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min2664 Halifax junior mining company Erdene Resource Development Corp. has closed a $1.7-million private placement with #Mongolian investors, the proceeds of which will be used for exploration at its Mongolian properties. The company has been exploring for copper, gold and molybdenum since 2009 in southwestern Mongolia & will use the money to do more work on its Altan Nar gold project. The development of Mongolia's vast and untapped mineral wealth is creating vast growth in the region, and the IMF foresees Mongolia's GDP per capita to quadruple by 2018. As referenced by #Marc Faber, the potential "Saudi Arabia of Asia" has immense potential and only a tiny portion has been explored to date. Peter Akerley of Erdene Resource Development Corp. as well as numerous other miners with Mongolian projects will be presenting at the Asia Mining Congress in Singapore. To find out more about the Mongolia section of the event, visit our website. Source: http://thechronicleherald.ca/business/37483-erdene-raises-exploration-money-mongolia
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