Gold Mine Generates US$51 Million in Just 3 Months as US$745 Million Copper-Molybdenum Project Emerges - Streetwise Reports

AI desk brief

Erdene reported US$51 million of Q3 gross revenue from gold and silver sales at Bayan Khundii in Mongolia, with 11,853 oz of gold and 3,046 oz of silver sold at average realized prices of US$4,315/oz and US$62/oz, respectively. The mine processed 164,000 tonnes at 96% gold recovery, and the joint venture repaid another US$20 million of debt, cutting outstanding debt to US$93 million.

The company also outlined a preliminary economic assessment for Zuun Mod, a 34-year molybdenum-copper project with base-case after-tax NPV of US$745.1 million and IRR of 16.1%, rising to US$1.98 billion NPV and 27.8% IRR at spot assumptions. Separately, the excerpt notes copper strength on better China data and Chile supply disruptions, while gold rebounded above US$4,170/oz as markets dialed back October Fed hike odds and sought safe-haven exposure amid equity weakness and lower yields.