The listing also makes Erdene the only precious metals exploration and development company currently registered on the exchange.
Erdene Resource Mining News
The Halifax, Nova Scotia-based miner also said it had launched an offering of common shares to Mongolian residents, as well as a concurrent non-brokered private placement, which in combination are expected to raise up to $4.4 million.
Indicated and inferred gold equivalent resources increased by whooping 208% and 172% respectively, when compared to the project’s maiden mineral resource estimate of 2015.
Mongolia’s renewed efforts to attract foreign investment it’s bearing its first fruits.
While the company had other projects in the country, the Bayan Khundii gold project went from greenfield prospect to being its main asset in roughly nine months.
Bayan Khundii project went from greenfield prospect to being Erdene’s flagship asset in roughly nine months.
Canada’s Erdene Resource is one of the very few miners to have never encountered issues in the East Asian nation.
The company's Bayan Khundii project went from greenfield prospect to the company’s flagship asset in roughly nine months.
Erdene is pleased to report high-grade gold intersections from the Company's recently completed, maiden drill program at its wholly-owned Bayan Khundii gold project in southwest Mongolia.
The company, which owns a gold project in Mongolia, is optimistic about the country's stance towards foreign mining investment over the coming years.