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Erdene Resource (TSX:ERD) Reports Q1 2025 Loss of $4.5M, Bayan Khundii Gold Project Nears Completion
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Highlights
Erdene Resource Development Corp. (TSX: ERD; MSE:ERDN) posted a net loss of $4.5 million for Q1 2025, a 68% increase from the $2.7 million loss reported in the same period last year. The rise was attributed to increased exploration and evaluation costs, incentive payments, and non-capitalized interest tied to financing arrangements.
The company reported a total of $96 million in expenditures at the Bayan Khundii Gold Project through the end of the quarter. As of March 31, 2025, the project had reached 92% completion. Key infrastructure components, including the process plant and support facilities, were roughly 87% finished, while the power supply infrastructure stood at 76%. Delays due to weather and logistics have been acknowledged, but Erdene indicated these remain within the scope of existing funding.
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