The company has announced delineation of a 277,000 oz gold Indicated & Inferred Mineral Resource. An in-house preliminary scoping study based on this resource has returned positive results and the Company plans to commence a Feasibility Study in early 2007. Management is also reviewing the potential to delineate porphyry-style mineralisation at depth.

 

Whilst EDM's primary focus is to progress the Nalesbitan Project through to mine feasibility, review of new projects will be undertaken both within and outside of the Republic of the Philippines, as highlighted by the acquisition of exploration tenements in Fiji prospective for gold and base metal mineralisation.

 

EDM is an Australian based company that listed on the Australian Stock Exchange ('ASX') on 25 October 2005 after raising A$4 million dollars (A$1 million in oversubscriptions). EDM has offices in both Sydney and Manila.