Erdene talks Bayan Khundii mine ramp-up

Executive Summary

• Erdene Resource Development Corp. provided a Q4 2025 operational update for the Bayan Khundii gold mine, reporting gross revenues of $31 million from the sale of 7,434 ounces of gold and 2,634 ounces of silver.
• The mine achieved nameplate mill throughput for much of December 2025, operating at 77% of its 1,950-tonne-per-day design capacity on average for the quarter, with gold recoveries meeting or exceeding the 93% feasibility study forecast.
• Exploration drilling totaling 5,433 meters was completed at the Dark Horse and Altan Arrow prospects, with results expected in Q1 2026, while the company targets delivering the head grade defined in the feasibility study during Q1 2026.

Key Details

• Production & Sales (Q4 2025):
  • Sold 7,434 ounces of gold at an average price of $4,153/oz.
  • Sold 2,634 ounces of silver at an average price of $53/oz.
  • Generated $31 million (US) in gross project revenues.
• Operational Metrics:
  • Processed 144,845 tonnes of ore.
  • Average daily throughput: 1,508 tonnes per day (tpd).
  • Capacity utilization: Averaged 77% of the 1,950 tpd design capacity; reached nameplate capacity for much of December 2025.
  • Ore grade: Averaged 2.0 grams per tonne gold.
  • Gold recovery: Consistent with or superior to the forecast average of 93%.
• Exploration & Development:
  • Completed 5,433 metres of drilling at the Dark Horse and Altan Arrow gold prospects.
  • Metallurgical studies are underway to determine amenability for heap leach processing.
  • Results from exploration drilling expected in Q1 2026.
• Future Guidance & Projections:
  • Feasibility study projects 650,000 tonnes per annum processing and ~85,000 ounces of gold production annually at full capacity.
  • Company targets delivering the head grade defined in the feasibility study during Q1 2026.
  • Guidance updates expected after the initial start-up phase completes in Q2 2026.

Notable Quotes

• "We are very pleased with progress during the initial months of operations at the Bayan Khundii gold mine. Following the first gold pour in mid-September, the team has worked to optimize operations in the processing facility, which is performing in line with expectations. The plant is now regularly achieving nameplate throughput and delivering recoveries equal or superior to those projected in the most recent feasibility study." — Peter Akerley, President and CEO
• "The start-up of the Bayan Khundii gold mine is a major milestone for the company and our stakeholders. The mine provides an operating platform and will generate cash-flow to support development of other projects in the Khundii minerals district (KMD), one of the most exciting new mineral regions in Asia." — Peter Akerley, President and CEO