Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) announced the closing of the repurchase of a 1% net smelter return royalty from Sandstorm Gold Limited on its Khundii Gold Project in southwest Mongolia on April 12, 2019 for C$1.2 million. “Completing this repurchase is accretive for shareholders as the present value of royalty payments implied by the Preliminary Economic Assessment are well in excess of the purchase price. With the exploration potential of the Khundii Gold Project license areas, which we are continuing to evaluate as part of our ongoing 2019 exploration program, the benefits of repurchasing could prove even greater” said Peter Akerley, Erdene’s President and CEO.
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