Tag Archives: AMSC

Sunridge Gold Sold its 60% Share in Eritrea Mine to China

Chinese State-owned company SRBM Acquired 60% share of Suridge Gold eritrea
DEAL. Chinese State-owned company SRBM Acquired 60% share of Suridge Gold’s Asmara Project at a premium price of US$65 million

By Sunridge Gold,

Sunridge Gold (SGC: TSX.V/SGCNF: OTCQX) has struck a US$65 million cash deal to sell its 60% interest in the Asmara Mining Share Company (AMSC), holder of the Asmara Project in Eritrea, to state-owned Sichuan Road & Bridge Mining Investment Development Corp. Ltd. (SRBM) for an upfront purchase price of US$65 million cash. Continue reading Sunridge Gold Sold its 60% Share in Eritrea Mine to China

Sunridge Gold Hails Key Mining Approvals in Eritrea

By Proactive Investors,

Michael Hopley, Chief executive of Sunridge Gold Corp (CVE:SGC), says he is delighted the firm’s partner has secured three key mining licences in Eritrea for its Asmara project. Asmara Mining (AMSC), a joint venture 60% owned by the Canadian group, has been awarded licences encompassing four advanced deposits – namely Emba Derho, Adi Nefas, Gupo Gold and Debarwa.

These areas were all incorporated into the feasibility study for Asmara, a proposed copper-zinc-gold mining operation. Continue reading Sunridge Gold Hails Key Mining Approvals in Eritrea

Sunridge Announces US$32 Million 2015 Budget for Asmara Project

The Asmara project, which has a three phase start-up plan, is focused on bringing the project to production in Q4 2015.

By Sunridge Gold,

SUNRIDGE Gold Corp. (the “Company” or “Sunridge”) (SGC: TSX.V/SGCNF: OTCQX) is pleased to provide a summary of the planned activities in 2015 for the Asmara Project, Eritrea.

The Asmara Project is owned and operated by the Asmara Mining Share Company (“AMSC”) which is owned 60% by Sunridge and 40% by Eritrean National Mining Corporation (“ENAMCO”).  AMSC expects to achieve several key milestones over 2015 to meet its goal of commencing mining operations in the fourth quarter of 2015. Continue reading Sunridge Announces US$32 Million 2015 Budget for Asmara Project

Eritrea and Sunridge Gold Forms a Joint Venture Company

MILESTONE ACHIEVED. Project JV formalized for the Asmara gold-copper-zinc project. Government participation in the JV virtually assures the award of mining licenses in the near future.

By Sunridge Gold,

SUNRIDGE Gold Corp. (the “Company” or “Sunridge”) (SGC: TSX.V/SGCNF: OTCQX) is pleased to announce that the Asmara Mining Share Company (“AMSC”) has recently been formed in Eritrea. AMSC is the operating entity which will own and operate the Asmara copper-zinc-gold mine in Eritrea.

The Asmara Project, equipment and all Eritrean employees are now being transferred from Sunridge Gold Eritrea to AMSC. Continue reading Eritrea and Sunridge Gold Forms a Joint Venture Company