Erdene Resource Development Corp reveals positive Feasibility update on Byan Khundii Project

About this update from Erdene Resource Development Corporation

[{"type":"text","content":"Erdene Resource Development Corp reveals positive Feasibility update on Byan Khundii Project\n \n \n (NewsDirect)\n \n \n \n \n Erdene Resource\nDevelopment Corp (TSX:ERD, OTC:ERDCF) CEO Peter Akerley joined Steve\nDarling from Proactive to share news the company has announced the\nresults of an updated independent Feasibility Study for the open-pit\nBayan Khundii Gold Project in southwest Mongolia.\n \n \n Akerley telling\nProactive the numbers have been much improved including after-tax Net\nPresent Value of 170 million (NPV5%) and 35.3% Internal Rate of\nReturn, increasing to US$196 million and 38.95% IRR, respectively, at\nthe current gold price of US$1,900/oz.\n \n \n Life of Mine Earnings Before Interest, Taxes\nand Depreciation of US$451 million, increasing to US$495 million at a\nUS$1,900/oz gold price. Total recovered gold of 476,000 ounces, a 25%\nincrease compared to the 2020 Feasibility Study from an average gold\nrecovery rate of 93%.\n \n \n Measured and Indicated Resources of 674,700 ounces of gold at\nan average grade of 2.6 g/t gold, and 319,000 ounces of silver at an\naverage grade of 1.38 g/t silver. The company also sees room for\ngrowth with adjacent high-grade resources and recent discoveries\nprovide a high probability for expansion.\n \n \n The company, with its strategic alliance with\nMMC, Mongolia’s largest independent miner, is moving towards\nproduction. Early construction works are underway with the first gold\nand cash flow expected in 2025.\n \n \n \n Contact\nDetails\n \n \n \n Proactive Investors\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2247,"tagName":"div"}]

More updates from Erdene Resource Development Corporation