Erdene outlines 687 million dollar Mongolia molybdenum build

Erdene Resource Development has published a preliminary economic assessment for its wholly owned Zuun Mod molybdenum copper project in southwestern Mongolia, putting the build cost at 687 million dollars and the after tax net present value at 745 million dollars at an 8 percent discount rate. The proposed open pit would produce an average of 19.8 million pounds of molybdenum and 27.9 million pounds of copper a year over 34 years, with payback in the sixth production year. The assessment is preliminary: inferred resources account for about 74 percent of the proposed plant feed, and the study does not establish reserves.