Erdene Advances Ramp-Up at Bayan Khundii Gold Mine as Cash Flow and Exploration Build District Potential

Erdene Resources ( (TSE:ERD) ) has shared an update.

Erdene reported that its Bayan Khundii Gold Mine in Mongolia is progressing through ramp-up, with the mill averaging 77% of its 1,950 tonne-per-day design capacity in the fourth quarter of 2025 and reaching nameplate throughput for much of December. During the quarter, the mine processed 144,845 tonnes of ore grading about 2.0 g/t gold, generated approximately US$31 million in gross revenue from the sale of 7,434 ounces of gold and 2,634 ounces of silver, and achieved gold recoveries at or above feasibility-study assumptions. Management emphasized that the start-up phase is providing a cash-flowing platform to support further development across the Khundii Minerals District, with a focus in early 2026 on improving grade control to reach targeted head grades and on advancing exploration at the nearby Dark Horse and Altan Arrow prospects, where recent drilling and metallurgical studies could underpin future resource additions and low-cost mine expansions.

The most recent analyst rating on (TSE:ERD) stock is a Hold with a C$9.50 price target. To see the full list of analyst forecasts on Erdene Resources stock, see the TSE:ERD Stock Forecast page.

Spark’s Take on TSE:ERD Stock

According to Spark, TipRanks’ AI Analyst, TSE:ERD is a Neutral.

The score is held back primarily by weak financial performance: no revenue, widening losses, and continued negative operating/free cash flow despite a low-leverage balance sheet. Technicals provide a meaningful offset with price above key moving averages and positive MACD/RSI momentum. Valuation remains a risk signal because the negative P/E reflects ongoing losses and there is no dividend yield support.

To see Spark’s full report on TSE:ERD stock, click here.

More about Erdene Resources

Erdene Resource Development Corp. is a gold-focused mining and exploration company developing the Bayan Khundii Gold Mine within the Khundii Minerals District in Mongolia, in partnership with Mongolian Mining Corporation. The company’s primary activities center on gold production from the Bayan Khundii operation and exploration of nearby oxide gold and silver prospects, with the goal of building a district-scale, low-cost gold operation in one of Asia’s emerging mineral regions.

Average Trading Volume: 137,565

Technical Sentiment Signal: Buy

Current Market Cap: C$567.4M

Learn more about ERD stock on TipRanks’ Stock Analysis page.