Erdene is a well financed 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 coal, molybdenum and construction aggregate projects, each of which are ideally positioned relative to markets in Asia and the U.S.
Erdene has used its extensive experience in the international exploration and mining sector to identify and secure unique, strategically located and under-valued assets. Erdene has been able to leverage a strategy that includes partnerships and other relationships, resulting in a company with a multitude of high impact opportunities but since it shares its financial burden with its partners, it has a relatively low risk profile. With its strong financial position, Erdene is well positioned to continue developing all of its major projects through to 2011.
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.
