Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) has announced the results of an independent Bankable Feasibility Study for the 100%-owned, high-grade, open-pit Bayan Khundii Gold Project in southwest Mongolia. The Bayan Khundii Gold Project is measured and indicated resources of 521,000 ounces gold at an average grade of 3.16 g/t gold and has proven and probable reserves of 409,000 ounces gold at an average grade of 3.71 g/t gold.
The project duration will be around 8 years and during this period after-tax net present value /NPV 5%/ will reach USD 100 million and internal rate of return will be 42%, within estimation based on current gold value of US$1,800/o each margin will be respectively increasing to US$216 million and 77% IRR.
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