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Erdene Resource Development CorporationTSX:ERD

Gold producer, with a project stated to be in Mongolia.

NoneMongolia — as stated on the recordings

producer gold NoneMongolia
Jan 2026 → Jun 2026Covered
7 of 10Topics on record
4Figures tracked over time
1 executiveNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 2 interviews with the company
Stage
Producer
Primary commodity
Gold
Jurisdiction
Mongolia
Latest appearance
09 Jun 2026
On record
2 interviews · 28 statements · 1 executive

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
six-year reserve
Management-stated Peter Akerley Jun 2026
Grade
near two gram deposit
Management-stated Peter Akerley Jun 2026
Money on hand
$28 million in cash at corporate level, close to 30 million in subsidiary
Stated capital need: 120 million dollars in 22 months
Management-stated Peter Akerley Jun 2026
What happens next
now in commercial production
Management-stated Peter Akerley Jun 2026
The main open question
The company carries $122–123 million in subsidiary debt against $58 million in total cash across both levels, requiring rapid debt paydown as the stated "main priority." The Zuun Mod PEA timing is stated but lacks a defined development…
Weighed from the statements below, not our opinion of the company.
Our reading

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

Capex $115 million120 million ● Higher 2 statements on record
13 Jan 2026
$115 million
“It was $115 million build and we built it in 22 months.”
09 Jun 2026
120 million dollars in 22 months
“were brought to bear on the building of Bayan Khundii for 120 million dollars in 22 months”
Capital needed 123 million122 million ≠ Different basis One statement qualifies the figure and the other does not (outstanding) 2 statements on record
13 Jan 2026
123 million in debt in the subsidiary
“So in the subsidiary there's uh 123 million in debt. So that's the 50 million that was the commercial loan. The uh what was up to 80 million from MMC but uh turned out to be 60 and then the interest o…”
09 Jun 2026
122 million in debt outstanding
“We have 122 million in debt outstanding and our main priority is to see that paid down”
Reserves ? Wording changed One statement carries no figure to compare 2 statements on record
13 Jan 2026
1860 gold
“we have a reserve that was defined at 1860 gold”
09 Jun 2026
six-year reserve
“what today is a six-year reserve extending significantly in terms of mine life based on the additional exploration and studies”
First production ? Wording changed No comparable date in one of the two statements 2 statements on record
13 Jan 2026
September, late Q3
“we just achieved first goal uh late Q3 last year”
09 Jun 2026
now in commercial production
“Bayan Khundii built and now in production, now in commercial production”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Erdene Resource Development Corporation's own claims across 2 interviews — most-covered theme first.

What outside voices pick up on

No independent commentary on record yet — so far the page carries only the company's own voice.

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says Erdene has achieved first commercial production at Bayan Khundii with 75,000+ oz gold annual output and 50% EBITDA margins, supported by a six-year reserve and $28 million corporate cash with no debt.

What it rests on
Evidence: 3 moments from 1 interview
Read the full case

Management says Erdene has achieved first commercial production at Bayan Khundii with 75,000+ oz gold annual output and 50% EBITDA margins, supported by a six-year reserve and $28 million corporate cash with no debt. The company controls three surface-exposed deposits including the Zuun Mod project (630 million pounds molybdenum) approaching a PEA this year, plus Altan Nar with half a million ounces of near-surface, near-2-gram polymetallic ore in southwestern Mongolia with emerging district upside.

▼ Bear case

The company carries $122–123 million in subsidiary debt against $58 million in total cash across both levels, requiring rapid debt paydown as the stated "main priority." The Zuun Mod PEA timing is stated but lacks a defined development…

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

The company carries $122–123 million in subsidiary debt against $58 million in total cash across both levels, requiring rapid debt paydown as the stated "main priority." The Zuun Mod PEA timing is stated but lacks a defined development timeline; the six-year reserve at Bayan Khundii is relatively short and dependent on exploration success. Mongolia jurisdiction risk is not addressed, and no independent validation of reserve estimates, operating costs, or market assumptions ($30/lb molly prices, capex execution) is on record.

◆ Watch next

PEA delivery for Zuun Mod this year; mid-July drill results from Teralgo; updated resources and mine-life extension on all projects by end of Q2; Darkorse mine development timeline and production ramp into late 2027.

What it rests on
Evidence: 3 moments from 2 interviews
Read the full case

PEA delivery for Zuun Mod this year; mid-July drill results from Teralgo; updated resources and mine-life extension on all projects by end of Q2; Darkorse mine development timeline and production ramp into late 2027. Monitor debt reduction progress against the $122+ million liability and whether Bayan Khundii maintains 75,000+ oz production and 50% EBITDA margins assumed in guidance.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 8 statements

The deposit 6

Key takeaway. Management describes the deposit as having three 43-101 deposits exposed at surface, calling it a near two gram deposit (June 2026).

Read the full summary

The company reports resource figures of 630 million pounds of molybdenum and half a million ounces (June 2026), and a reserve size of six years (June 2026). An earlier statement from January 2026 gave a reserve figure of 1,860 gold.

What was actually said
exploration upside
three 43-101 deposits exposed at surface
“here we are with three 43-101 deposits exposed at surface”
Peter Akerley· 09 Jun 2026·
grade
near two gram deposit
“near surface half a million ounces near two gram deposit that is desperately in need of additional exploration”
Peter Akerley· 09 Jun 2026·
reserve size
six-year reserve
“what today is a six-year reserve extending significantly in terms of mine life based on the additional exploration and studies”
Peter Akerley· 09 Jun 2026·
Show the other 3 statements
resource size
half a million oz
“Altan Nar is already a half a million oz of near-surface mineralization high-grade polymetallic in nature”
Peter Akerley· 09 Jun 2026·
resource size
630 million pounds of molybdenum
“we're sitting on 630 million pounds of molybdenum and equal copper”
Peter Akerley· 09 Jun 2026·
reserve size
1860 gold
“we have a reserve that was defined at 1860 gold”
Peter Akerley· 13 Jan 2026·

Jurisdiction 2

Key takeaway. Management of Erdene Resource Development Corporation states that the company's project is located in Mongolia.

Read the full summary

This jurisdictional claim was repeated in both January 2026 and June 2026 statements from the company.

What was actually said
country
Mongolia
“our emerging Khundii Minerals District and the Altan mine that we have now established a Bayan Khundii gold mine in southwestern Mongolia”
Peter Akerley· 09 Jun 2026·
country
Mongolia
“to build out this new district in southwestern Mongolia”
Peter Akerley· 13 Jan 2026·

Economics 11 statements

Economics 7

Key takeaway. Management has outlined the project economics at different points in 2026.

Read the full summary

In January 2026 the company put capex at $115 million, while by June 2026 they referred to a capex of $120 million over 22 months. The June 2026 outlook assumes molybdenum prices at $30 a pound, with the company targeting a 20-to-25-million-pound-per-year moly producer generating close to C$100 million in revenue and an EBITDA margin close to 50%. Separately, management also cited production in excess of 75,000 oz per year, which appears to reference a different metal or a separate stream.

What was actually said
capex
120 million dollars in 22 months
“were brought to bear on the building of Bayan Khundii for 120 million dollars in 22 months”
Peter Akerley· 09 Jun 2026·
key assumption
20 to 25 million pound per year molly producer
“a 20 to 25 million pound per year molly producer with close to equivalent copper as a byproduct”
Peter Akerley· 09 Jun 2026·
operating cost
in excess of 75,000 oz per year production
“it provides significant cash flow from in excess of 75,000 oz per year production”
Peter Akerley· 09 Jun 2026·
Show the other 4 statements
operating cost
EBITDA close to 50%
“We're seeing EBITDA close to 50% based on where we are today”
Peter Akerley· 09 Jun 2026·
price assumption
molly prices at $30 a pound
“molly prices have been pretty stable at $30 a pound”
Peter Akerley· 09 Jun 2026·
revenue
close to 100 million Canadian of revenue
“we generated close to 100 million Canadian of revenue”
Peter Akerley· 09 Jun 2026·
capex
$115 million
“It was $115 million build and we built it in 22 months.”
Peter Akerley· 13 Jan 2026·

Financing 4

Key takeaway. Regarding financing, management reports the company held $28 million in cash at the corporate level and close to $30 million in a subsidiary as of June 2026, while $122 million in debt was outstanding at that time.

Read the full summary

In January 2026, the CEO cited $123 million in debt in the subsidiary and noted that an exploration budget of a few million was approved at the end of the prior year, with another $10 million budgeted for 2026.

What was actually said
capital needed
122 million in debt outstanding
“We have 122 million in debt outstanding and our main priority is to see that paid down”
Peter Akerley· 09 Jun 2026·
cash position
$28 million in cash at corporate level, close to 30 million in subsidiary
“the company at the corporate level has $28 million in cash, no debt. There's close to 30 million also in the subsidiary as of end of Q1”
Peter Akerley· 09 Jun 2026·
burn rate
exploration budget approved of a few million at the end of last year and another 10 million in 2026
“The expiration budget has been approved which was a few million at the end of last year and another 10 million in 2026.”
Peter Akerley· 13 Jan 2026·
Show the other 1 statement
capital needed
123 million in debt in the subsidiary
“So in the subsidiary there's uh 123 million in debt. So that's the 50 million that was the commercial loan. The uh what was up to 80 million from MMC but uh turned out to be 60 and then the interest on top of that.”
Peter Akerley· 13 Jan 2026·

Timeline 7 statements

Timeline 5

Key takeaway. Management has presented different timelines at different points.

Read the full summary

In January 2026, the company said construction would start 22 months before September and first production would occur in September (late Q3). By June 2026, management reported that the project is now in commercial production, with mid-July drill results due at Teralgo and a PEA for Zuun Mod due this year.

What was actually said
first production
now in commercial production
“Bayan Khundii built and now in production, now in commercial production”
Peter Akerley· 09 Jun 2026·
milestone
mid-July drill results at Teralgo
“Drill results should be available on that um sometime by mid-July”
Peter Akerley· 09 Jun 2026·
study due
PEA for Zuun Mod this year
“We have a a PEA that'll be delivered this year for Zoom Mod”
Peter Akerley· 09 Jun 2026·
Show the other 2 statements
construction start
22 months before September
“we built it in 22 months”
Peter Akerley· 13 Jan 2026·
first production
September, late Q3
“we just achieved first goal uh late Q3 last year”
Peter Akerley· 13 Jan 2026·

Catalysts 2

Key takeaway. Management said the next milestone is opening the Darkorse deposit, which is expected to deliver high grade material into late 2027.

Read the full summary

The company also reports that resources on all projects, along with updated reserves and a mine plan, are expected by the end of Q2.

What was actually said
next milestone
opening Darkorse to deliver high grade material into late 2027
“by the time we're at the end of 26 we pretty much have to be opening that up to begin to deliver it uh into late 27”
Peter Akerley· 13 Jan 2026·
upcoming result
resources on all projects and updated reserves and mine plan by end of Q2
“by the end of Q2 we will provide resources on all of our projects. So you'll have Gulahan, you'll have the expanded bay in Hyundai, you'll have Alton uh Nar and Darkwells all reported in a single uh report in that period. And then we'll have the updated reserves at a much higher gold price for buying Hyundai uh and a mine plan and schedule that and will be revised as we move into that period as well.”
Peter Akerley· 13 Jan 2026·

Corporate 2 statements

Share structure 2

Key takeaway. Management reports approximately 65 million shares outstanding as of June 2026, with insider Eric Sprott holding a roughly 23% stake in the company at that time.

What was actually said
insider stake
Eric Sprott at 23%
“Eric Sprott, a very important cornerstone investor here at 23%”
Peter Akerley· 09 Jun 2026·
shares outstanding
65 million shares outstanding
“We only have 65 million shares outstanding”
Peter Akerley· 09 Jun 2026·

Sources 2 interviews

Every interview 2

DateChannelInterviewStatements
09 Jun 2026 Crux Investor Erdene Resource Developments (TSX:ERD) - 'Undervalued?' Investment Series, with Peter Akerley 19
13 Jan 2026 Crux Investor Erdene Resource Development (TSX:ERD)- First Gold Flows as Multi-Mine District Strategy Unfolds 9

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

altan nar 2
gold 2
molybdenum 2
zuun mod 2
dark horse 1
erdene resource development 1
eric sprott 1
mongolian stock exchange 1

Questions people ask

What is Erdene Resource Development Corporation's project and where is it?

Erdene Resource Development Corporation is a producer gold company, with a project stated to be in Mongolia. Everything here is drawn from its executives' own interviews.

Which interviews mention Erdene Resource Development Corporation?

We track 2 interviews mentioning Erdene Resource Development Corporation, across 1 channel (Crux Investor).

What are investors saying about Erdene Resource Development Corporation?

No independent commentary is on record yet — so far the page carries only the company's own voice.

What do recent interviews with Erdene Resource Development Corporation cover?

The most-discussed topics on record are economics, the deposit, timeline, financing — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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