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→
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.
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.