Tag Archives: Asmara Mining Share Company

Sunridge Closes Transaction with China’s SRBM

Michael-Hopley-Sunridge
After completing payment of US$71 million in cash to Sunridge Gold, Chinese investor group ‘Sichuan Road & Bridge Mining Investment Development Corp. Ltd.’ or “SRBM” becomes the majority 60% interest owner of the Asmara Mining Share Company (“AMSC”).

By Sunridge Gold,

Sunridge Gold Corp. (the “Company” or “Sunridge”) (TSX.V: SGC/ OTCQX: SGCNF) is pleased to announce that Sichuan Road & Bridge Mining Investment Development Corp. Ltd. (“SRBM”) and the Company have completed the purchase and sale of Sunridge’s 60% interest in the Asmara Mining Share Company (“AMSC”) on April 26, 2016.

Sunridge has confirmed payments aggregating US$68.6 million have been received or are in transit: Continue reading Sunridge Closes Transaction with China’s SRBM

Eritrea Awards Three Mining Licenses to Sunridge Gold’s Asmara Project

The wait is over. Sunridge received the mining licenses for its Asmara project. Chinese LiuGong agreed to deliver some of the heavy duty machineries required to commence commercial production in Q3 2016 (i.e. between July – September 2016 )

By Sunridge Gold,

Sunridge Gold Corp. is pleased to announce that the Eritrean Ministry of Energy and Mines has awarded three mining licenses to the Asmara Mining Share Company (AMSC), a joint-venture company of which Sunridge owns 60% and the Eritrean National Mining Corporation owns 40%.

These licenses cover a total area of 19.3 square km and cover the four advanced projects (Emba Derho, Adi Nefas, Gupo Gold and Debarwa) on the Asmara copper-zinc-gold project that were included in a feasibility study completed by Sunridge in May 2013. Continue reading Eritrea Awards Three Mining Licenses to Sunridge Gold’s Asmara Project