Erdene Reports Q3 2025 Results and Gold Production Milestone
Erdene Resource Development Corp. has announced its financial results for the third quarter of 2025, highlighting a significant achievement with the production of its first gold at the Bayan Khundii Gold Mine on September 14. This milestone marks a major step towards achieving full production capacity, which the company expects to reach by the end of 2025.
The company’s quarterly report, which covers the three months ending September 30, 2025, outlines key operational updates as well as financial performance. Erdene’s President and CEO, Peter Akerley, emphasized the importance of the first gold pour, noting that it comes a decade after the initial drill hole at Bayan Khundii. This rapid transition from exploration to production is highlighted as one of the fastest in recent mining history.
Operational Highlights and Future Plans
The Bayan Khundii Gold Mine is designed to process 650,000 tonnes of ore annually and is expected to produce approximately 85,000 ounces of gold per year. During the quarter, Erdene sold 342 ounces of gold and 96 ounces of silver at weighted average prices of US$3,805 per ounce of gold and US$44 per ounce of silver.
By the end of September, Erdene had mined 2.1 million tonnes of material, comprising 1.8 million tonnes of overburden and 133,000 tonnes of ore, with an average grade of 2.30 g/t Au and 1.27 g/t Ag. The company has initiated a drilling program of 9,300 metres aimed at expanding resources at the Bayan Khundii site and its surrounding areas, including the Dark Horse and Altan Arrow prospects.
Mr. Akerley also noted progress on the company’s other projects. On October 2, Erdene announced an updated independent mineral resource estimate for its Zuun Mod Molybdenum-Copper project, revealing a 22% increase in Measured and Indicated molybdenum resources, now totaling 333 million pounds. The copper resources also showed significant growth, with a 16% increase in Measured and Indicated resources to 384 million pounds.
Financial Performance and Strategic Developments
In terms of financial results, Erdene reported a net loss of $2,748,830 for the quarter, compared to a loss of $1,687,580 during the same period in 2024. The increase in losses is largely attributed to exploration and evaluation expenses, which rose to $579,333 from $215,903 in the prior year. These costs are primarily linked to the exploration activities associated with the recently optioned Tereg Uul property.
As part of its strategic growth plan, Erdene executed an option agreement on July 3, 2025, to acquire up to 80% of the Tereg Uul Copper-Gold porphyry prospect, located approximately 10 km southwest of the Oyu Tolgoi copper deposit, one of the largest globally.
In addition to its operational activities, Erdene has focused on community development, with approximately 35% of the workforce at Bayan Khundii being residents of Bayankhongor province. The company has also engaged local contractors for mine site services and environmental stewardship programs, demonstrating its commitment to local economic development.
Management will hold a conference call on November 5, 2025, at 10:00 AM Eastern Time, to discuss these results in greater detail and outline future business initiatives. Interested parties can access the call via Erdene’s website.
Erdene Resource Development Corp. remains focused on advancing its projects in Mongolia while continuing to build its position in the mining sector. The company is committed to delivering on its production goals while ensuring growth through exploration and community engagement.
