The value of the gold projects has been increased during the time when the gold price climbs. According to Erdene Resource Development Corp. (ERD)’s preliminary feasibility study, the price of gold reflected to stand at USD 1,300 per ounce, but it has risen to USD 1,700 currently, the project’s value has almost doubled to USD 188 million. Additionally, ERD’s stock traded at CAD 0.23 on the Toronto Stock Exchange (TSX) on Friday. The company, which has received mining licenses for the Khundii gold project, is working to complete a detailed feasibility study by mid-2020. At the same time, some discussions related to financing gold companies have been revealed. Moreover, the Speaker of Parliament, Zandanshatar Gombojav highlighted that implementing the Gold 2 program and providing funding to gold companies will help increase foreign exchange reserves and ensure the stability of the tugrik.

Published Date:2020-05-13