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Erdene is a diversified resource development company focused on creating value through the identification, acquisition and advancement of strategically located projects that host commodities with strong market fundamentals.
The company is currently advancing gold, copper and molybdenum projects, each of which are ideally positioned relative to markets in Asia and the U.S.
Since completing our initial public offering in 2004, our goal has been to identify and select projects that host high growth commodities and advance them to the production stage. Initially listed on the TSX Venture exchange under the trading symbol ERD, Erdene listed on the Toronto Stock Exchange in 2005 (TSX:ERD).
Erdene acquired its first mineral exploration licenses in Mongolia in 2002 and in early 2005 added an extensive exploration license portfolio by acquiring Mohammed Al Fayed’s Gallant Mineral Mongolia Limited. This portfolio included the Zuun Mod molybdenum project as well as other base metal, precious metal and energy projects.
In 2006, Erdene entered into an Alliance Agreement with Xstrata Coal Canada to develop coal projects in Mongolia. Under the Alliance Agreement Xstrata is fully funding Erdene’s coal exploration program with the right to elect to fund any individual coal project through to completion of a feasibility study to earn a 75% interest in any projects.
In 2006, Erdene expanded its resource base by acquiring Kaoclay Resources which held three North American based projects. These included an interest in the Donkin Coal project in Cape Breton, Nova Scotia; extensive primary kaolin assets in Georgia, U.S.; and the Granite Hill construction aggregate project in Central Georgia.
In 2009, Erdene acquired roughly 400,000 hectares of exploration licenses in southwest Mongolia to evaluate metals and coal opportunities.
In late 2012, Erdene separated into two publically traded companies. The Company’s Mongolian metals exploration projects remained within Erdene under the same trading symbol (TSX:ERD), while its North American projects (consisting primarily of its 25% interest in the Donkin Coal Project), became the major asset of Morien Resources Corp. (TSX-V:MOX). The company separation was initiated in order to enhance the ability of each of the two companies to pursue their independent corporate objectives and strategies.