| TSX Unit Symbol: ERD | ||
| Share Price: | 0.17 | |
| Change: | -0.01 | |
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As a result of the Kaoclay acquisition, Erdene now owns the Granite Hill aggregate project in Georgia, U.S. The Granite Hill project is being developed as a construction aggregate quarry primarily to serve the lucrative Florida market. The Granite Hill quarry is adjacent to rail and quarry design and permitting are currently underway. Ready Mix USA, LLC has been granted an exclusive right to mine, process, and sell aggregate from the Granite Hill property subject to a royalty payable to Erdene. Ready Mix USA is a large concrete company providing product to multiple markets in the Southeast U.S. Granite Hill has an estimated start-up production of one million tons of granite aggregate per year. The modular design of the processing plant provides for potential expansion to a capacity of four million tons per annum. Based on current production projections, the Granite Hill quarry would have a lifespan of more than 20 years.
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