In the same category
Erdene Closes $1,000,000 Private Placement Financing, MIBG Completes Mongolian Investor Portion
Published : December 21, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   China | Coal | Copper | Diamond | Gold | Growth | London | Market | Molybdenum | Mongolia | Silver |

HALIFAX, NOVA SCOTIA--(Marketwire - Dec. 21, 2012) - Erdene Resource Development Corp. (News - Market indicators) ("Erdene" or "Company"), is pleased to announce that it has closed the private placement announced on December 12, 2012 that was limited to $1,000,000 and comprised of 5,882,353 Units priced at $0.17 per Unit. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder to purchase one common share of the Company at a price of $0.25 for a 24-month period.

All securities issued pursuant to the private placement are subject to a four month hold period. The Company paid cash commissions of $22,800 for the brokered portion of the financing, the majority of which was paid to Mongolian Investment Banking Group LLC ("MIBG") which secured subscriptions from Mongolian investors who participated in the financing.

Net proceeds of the Private Placement will be used to advance the Company's projects in Mongolia and for general working capital. Project expenditures will primarily be directed to the Company's 100% owned Altan Nar ('Golden Sun') gold-silver project in southwestern Mongolia. Altan Nar was discovered by Erdene geologists in late 2011 and is emerging as one of the more significant gold discoveries in Mongolia in recent years. Exploration work completed to date, including more than 8,200 metres of Diamond drilling, has confirmed multiple gold-silver zones over a 5 kilometre by 1.5 kilometre area with individual zones returning up to 29 metres of 4.3 g/t gold and 24.1 g/t silver. The 2012 program identified multiple targets that require scout and further delineation drilling throughout the property. 

For more details on the Altan Nar project and Erdene's other interests please visit Erdene's website at

About MIBG

Located in Ulaanbaatar, the Mongolian Investment Banking Group LLC ("MIBG") is a financial boutique, providing a select range of financial services and products designed specifically to generate value within the mining and resources sector of Mongolia. MIBG has trading rights on the Mongolian Stock Exchange and direct access to international exchanges including the Toronto Stock Exchange, Australian Stock Exchange, Honk Kong Stock Exchange, New York Stock Exchange, and the London Stock Exchange.

Qualified Person

J.C. (Chris) Cowan, P.Eng. (Ontario) is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. All samples have been assayed at SGS Laboratory in Ulaanbaatar, Mongolia. In addition to internal checks by SGS Laboratory, the Company incorporates a QA/QC sample protocol utilizing prepared standards, blanks and duplicates.

About Erdene

Erdene Resource Development Corp. is focussed on exploration and development in Asia, primarily Mongolia. Erdene has a very experienced technical and management team and has assembled a strong portfolio of gold, copper-gold, molybdenum-copper, and coal projects in Mongolia. These projects, and its in-country experience, provide the Company with a unique opportunity to participate in this period of unprecedented economic growth in Mongolia. This growth is fuelled by proximity to China and the discovery and development of a number of world-class mineral projects that are transforming the country into one of Asia's natural resource capitals.

After giving effect to this offering, Erdene has 53,785,300 issued and outstanding common shares, 59,102,977 fully diluted.

Forward-Looking Statements

Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Erdene does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.


Erdene Resource Development Corp.
Peter C. Akerley, President and CEO
Ken W. MacDonald
Vice President Business Strategy and CFO
(902) 423-6419
Data and Statistics for these countries : China | Mongolia | All
Gold and Silver Prices for these countries : China | Mongolia | All

Erdene Resource Development Corporation

ISIN : CA29480N2068
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Erdene is an exploration gold and copper company based in Canada.

Erdene holds various exploration projects in Canada and in Mongolia.

Its main exploration properties are DONKIN in Canada and DURVULJIN UUL, ERDENET and GALSHAR UUL in Mongolia.

Erdene is listed in Canada and in United States of America. Its market capitalisation is CA$ 61.8 millions as of today (US$ 46.8 millions, € 40.3 millions).

Its stock quote reached its highest recent level on July 06, 2007 at CA$ 2.05, and its lowest recent point on November 01, 2013 at CA$ 0.07.

Erdene has 145 390 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
In the News and Medias of Erdene Resource Development Corporation
6/14/2018Erdene becomes first cross-listed firm on the Mongolian Stoc...
5/31/2018Mongolia listing boosts investors confidence in Erdene Resou...
5/10/2018Erdene soars as Altan Nar project in Mongolia proves larger ...
5/3/2018Mongolian Copper Corp considers international fight for Erde...
12/8/2017Mongolian Gov't can't nationalize Erdenet Copper Mine — cour...
Financings of Erdene Resource Development Corporation
6/4/2015Private Placement Oversubscribed, Closes First Tranche of $1...
5/21/2015Announces Private Placement
4/23/2013Closes Private Placement
12/21/2012Closes $1,000,000 Private Placement Financing, MIBG Complete...
12/21/2012Closes $1,000,000 Private Placement Financing, MIBG Complete...
12/12/2012Announces Private Placement
12/6/2011Completes Private Placement Financing
11/28/2011Closes $1,715,000 Financing Pursuant to Private Placement Th...
6/20/2008Closes $18.6 Million Private Placement
6/2/2008Announces $15 Million Private Placement
Financials of Erdene Resource Development Corporation
8/17/2009Reports 2009 Second Quarter Financial Results and Provides P...
5/19/2009Reports 2009 First Quarter Financial Results and Provides Pr...
5/15/2008Reports First Quarter Operating and Financial Results
Project news of Erdene Resource Development Corporation
11/18/2013Completes Trenching Program on the Altan Nar Gold-Silver Pro...
8/8/2012(Donkin)Finalizes Agreement to Separate Donkin Coal and Mongolian Mi...
7/26/2012(Donkin)Provides Donkin Export Coking Coal Project Update
7/3/2012Completes US$3.35 Million Sale of the Granite Hill Quarry Pr...
6/28/2012(Donkin)to Separate into Two Public Companies focused on Donkin Coal...
1/17/2012Granite Hill Quarry Commences Production: Erdene Receives Mi...
7/27/2011(Nomin)Drill Results Confirm Continuity of Copper-Gold-Silver Sulfi...
6/30/2011(Donkin)Receives Independent Technical Report on Donkin Export Cokin...
6/1/2011(Zuun Mod Molybdenum)Receives Mining License for the Zuun Mod Molybdenum-Copper P...
3/4/2011(Zuun Mod Molybdenum)Reports Additional Results from Mongolian Copper Discovery: ...
11/28/2008(Donkin Coal Project)Provides Update on Donkin Coal Project
Corporate news of Erdene Resource Development Corporation
7/5/2016Morien Announces Appointment of CFO
6/22/2016Erdene Continues to Intersect Near-Surface, High-Grade Gold ...
6/16/2016Erdene Provides Highlights of AGM
6/14/2016Erdene Extends Bayan Khundii Gold Mineralization at Depth; 2...
6/13/2016Erdene Announces Annual General Meeting Webcast
6/6/2016Erdene Closes Private Placement
5/30/2016Erdene Announces $500,000 Private Placement
5/24/2016Erdene Continues to Intersect Significant Gold Mineralizatio...
5/17/2016Erdene Names Dr. Anna Biolik and David Mosher as Nominees to...
5/9/2016Erdene Intersects 63 Metres of 5.3 g/t Gold at Bayan Khundii...
4/22/2016Erdene Provides Update on Trans Altai Alliance
4/21/2016Erdene Closes $2.5 Million Financing With Sandstorm Gold
4/8/2016Erdene Commences Drill Program at Bayan Khundii Gold Project
3/15/2016Erdene Provides Update on Bayan Khundii Gold Project and Rec...
2/16/2016Erdene Reports 99% Gold Recovery from its New High-Grade Bay...
1/5/2016Erdene Appoints Gold Mining Executive David Mosher as Strate...
12/14/2015Erdene Extends Bayan Khundii's Striker Zone Down Dip With 9....
12/9/2015IIROC Trade Resumption - ERD
12/9/2015Erdene Intersects Multiple High-Grade Gold-Bearing Structure...
12/9/2015IIROC Trading Halt - ERD
11/16/2015Erdene Provides Project Review and Quarterly Financial Resul...
11/10/2015Erdene Closes Private Placement
11/9/2015Erdene Commences Maiden Drill Program at Bayan Khundii Gold ...
11/3/2015Erdene Announces a Three Month Extension to Warrants
10/20/2015Erdene Announces Private Placement; Drilling to Commence on ...
10/15/2015RETRANSMISSION - Erdene Reports Multiple High-Grade Gold-Pol...
10/15/2015Erdene Reports Multiple High-Grade Gold-Polymetallic Interse...
10/5/2015IIROC Trade Resumption - ERD
10/5/2015Erdene Discovers Bonanza Grade Gold in Southwest Mongolia
10/5/2015IIROC Trading Halt - ERD
9/29/2015Erdene Drills 12 m of 5.3 g/t Gold Equivalent at Union North...
9/16/2015Metallurgical Testing at Erdene's Altan Nar Project Returns ...
7/15/2015Erdene and Tian Poh Amend Option Agreement; Drilling to Comm...
7/6/2015Erdene Appoints Layton Croft to the Board of Directors
6/12/2015Erdene Closes Second Tranche of Private Placement for Total ...
6/9/2015Erdene Provides Highlights of AGM and Project Updates
6/4/2015Erdene Private Placement Oversubscribed, Closes First Tranch...
5/21/2015Erdene Announces Private Placement
4/27/2015Erdene Closes Private Placement; Advances Strategic Alliance...
4/17/2015Erdene Announces Private Placement
4/1/2015Erdene Provides Year-End Financial Results and Project Revie...
4/1/2015Provides Year-End Financial Results and Project Review
4/1/2015IIROC Trade Resumption - ERD
3/31/2015Reports Initial Resource Estimate for Altan Nar Gold-Polymet...
3/31/2015Erdene Reports Initial Resource Estimate for Altan Nar Gold-...
3/31/2015IIROC Trading Halt - ERD
2/12/2015IIROC Trade Resumption - ERD
2/12/2015Erdene Enters Agreement with Tian Poh Resources Ltd to Excha...
2/12/2015IIROC Trading Halt - ERD
2/9/2015IIROC Trade Resumption - ERD
2/9/2015Erdene Intersects Multiple High Grade Gold-Polymetallic Zone...
2/9/2015IIROC Trading Halt - ERD
1/12/2015Intersects 51 m of 2.5 g/t Gold Equivalent at Altan Nar Incl...
1/12/2015Erdene Intersects 51 m of 2.5 g/t Gold Equivalent at Altan N...
12/18/2014CWN Mining Acquisition Corporation Announces Private Placeme...
11/14/2014November 14, 2014 Erdene Secures Financing and Commences Res...
11/14/2014Erdene Secures Financing and Commences Resource Drilling on ...
10/7/2014IIROC Trade Resumption - ERD
10/6/2014Erdene Announces Private Placement; Altan Nar Gold-Polymetal...
10/6/2014IIROC Trading Halt - ERD
10/2/2014Erdene Provides Altan Nar Exploration Update
8/25/2014Erdene Provides Exploration and Corporate Update : Commences...
6/19/2014Erdene Provides Highlights of AGM and Project Updates
6/3/2014IIROC Trade Resumption - ERD
6/2/2014Erdene Intersects High Grade Gold and Base Metal Zone at Alt...
6/2/2014IIROC Trading Halt - ERD
1/23/2014Altan Nar Trenching Intersects Multiple High Grade Gold and ...
10/18/2013Announces Private Placement Altan Nar Gold Project - Explora...
10/18/2013Announces Private Placement : Altan Nar Gold Project-Explora...
10/7/2013Commences Exploration Program at Altan Nar Gold Project
7/2/2013Provides Highlights of AGM and Project Update
6/27/2013Reports Encouraging Metallurgical Results for Altan Nar Gold...
4/11/2013Establishes Strategic Alliance in Mongolia
4/3/2013Provides Year-End Financial Results and Project Review
11/27/2012Drill Program Confirms Gold Mineralized Trend at Altan Nar: ...
11/9/2012and Morien Announce Completion of Plan of Arrangement and Co...
11/2/2012and APM Receive Final Court Approval for Plan of Arrangement...
10/26/2012and APM Shareholders Vote in Favor of Plan of Arrangement
10/9/2012Commences Drill Program on the Altan Nar Gold Project
10/2/2012Proposing Division into Two Public Companies
8/22/2012Provides Update on Mongolian Metals Projects
8/13/2012Morien Resources Corp. Selected as Proposed New Name and Joh...
5/30/2012Drilling Continues to Expand Altan Nar Gold Discovery
5/22/2012Announces Sale of its Land and Royalty Interest at the Grani...
5/17/2012Provides Project Updates and First Quarter Financial Results
4/26/2012(Donkin)Schedules Conference Call to Provide Update on Donkin Coal P...
3/29/2012Provides Project Updates and Reports Year End Financial Resu...
3/5/2012Announces Drilling Program for Altan Nar Gold-Silver Project
1/26/2012Confirms Continued Widespread Gold Mineralization at Altan N...
10/12/2011Drilling Confirms Significant Epithermal Gold Mineralization...
9/7/2011Announces Significant New Gold Discovery in Southwest Mongol...
8/15/2011Provides Project Updates and Second Quarter Financial Result...
7/6/2011(Nomin)Initial Drill Results Confirm Copper-Gold Sulfide Zone at Er...
6/21/20112010 Annual General Meeting-June 23, 2011
6/15/2011Provides Project Updates and First Quarter Financial Results
4/12/2011Provides Project Updates and Reports Year End Financial Resu...
2/17/2011Zuun Mod Results Continue to Enhance Potential of Copper and...
2/28/2009Concludes Reverse Takeover of Beta Minerals Inc.
9/15/2008Xstrata Coal Canada Increases Ownership in Erdene
5/29/2008Erdene Name Change Approved at Annual and Special Meeting
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.425
06/18 16:58 -0.040
Prev close Open
0.460 0.455
Low High
0.415 0.455
Year l/h YTD var.
0.320 -  0.590 -27.97%
52 week l/h 52 week var.
0.320 -  1.09 -64.58%
Volume 1 month var.
119,300 28.79%
24hGold TrendPower© : 21
Explores for Coal
Interactive chart Add to compare
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 5.94-0.67%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.56+0.56%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.60+0.14%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.16-3.13%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.43-2.27%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 2.14-1.38%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 2.60-4.76%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.19+2.70%Trend Power :
Closes Bridge Loan Financing
CA$ 1.96+0.51%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 4.95+0.61%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.23-0.12%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+9.09%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.26+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 0.50-3.85%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.12-13.79%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 41.10+2.11%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.12+0.00%Trend Power :