trending Market Intelligence /marketintelligence/en/news-insights/trending/utxw0MvYN3fmW45ehWB-tg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Erdene secures C$8M funding for Khundii gold project in Mongolia

COVID19 Mining Impacts Mining Projects With At Risk Production

Mining Insights Newsletter June 2020

A Decade of Underperformance for Gold Discoveries

State of the Market: Mining Q1-2020


Erdene secures C$8M funding for Khundii gold project in Mongolia

Erdene Resource Development Corp. secured an C$8 million financing package led by the European Bank for Reconstruction and Development to develop the Khundii gold project in Mongolia.

The funds will be used to support a feasibility study and a front-end engineering design, for exploration and acquisitions to add resources, and for general working capital.

The company said Oct. 15 that it also entered into a definitive agreement with the bank for a US$5.0 million convertible loan that has an interest rate of 10% per annum and will mature in 36 months.

The loan, which has a conversion price of 20 Canadian cents per share, can be prepaid 24 months from the date of the initial advance, delivery of a National Instrument 43-101-compliant bankable feasibility study, or a change of control of Erdene, whichever happens first.

In addition, Erdene plans to raise C$1.6 million through a private placement of 8 million units at 20 cents apiece. Each unit will consist of one share and one-half of a warrant exercisable at 30 cents apiece for two years. Closing is expected by Oct. 25.

A December 2018 preliminary economic assessment on the project generated a posttax net present value, discounted at 5%, of US$99 million, a 56% internal rate of return and a two-year payback period.