Opinions

Rick Rule Erdene Resource Development ERD-T WATCH Mar 14, 2025

The fact that TECK.B is a shareholder speaks well for it, and he should pay attention to that. Explores and develops copper and gold in Mongolia.

Rick Rule

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BUY

They are active in several concessions in Mongolia. Any one of their projects could be a major mine. Should do well over the long term.

DON'T BUY

Unfortunately, it is in Mongolia and their parliament passed an excess profits tax which made it unattractive for investors.

TOP PICK

Small coal play. In pre-feasibility with feasibility study due in the next few weeks. Partnered with Xstrata (Cape Breton met coal property). Beneficial because of location where shipping costs will be cheaper. Also have a moly and copper play in Africa that is attractive Lots of cash and supported by NAV.

COMMENT

This now has a project in Mongolia which has epithermal veins, which he loves. When you do find them and they carry great grades, it can grow really fast. This has a 50 g/meter width quite prominent with something like 16% which gets him excited. Still very early stage.

DON'T BUY

Attracted to it, but doesn't own or recommend. He rates it a 5, which is neutral. Gold and copper in Mongolia. Data doesn't justify labeling findings as "massive" discoveries.

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Rick Rule Erdene Resource Development ERD-T WATCH Mar 14, 2025

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