Erdene Resource Development Corp (TSX:ERD, OTC:ERDCF) made significant progress in the first quarter of 2024 with the development of its Bayan Khundii gold project in Mongolia in collaboration with the Mongolian Mining Corporation (MMC). Erdene CEO Peter Akerley announced that construction was 15% complete by the end of the quarter, proceeding on schedule and within budget. The project is expected to produce its first gold in the second quarter of 2025, positioning Bayan Khundii as one of the highest-grade open-pit gold mines globally. Akerley emphasized that this project would become Mongolia’s largest primary gold producer, boosting the mining sector’s contribution to the national economy and creating long-term value for Erdene shareholders. Additionally, Erdene launched its 2024 exploration program during the quarter to expand mineralization in the Khundii Minerals District, focusing on the Dark Horse, Ulaan, and Zuun Mod gold and copper targets.
Source and Credit: proactiveinvestors.com
