Tag Archives: Asmara project

Sunridge Gold Now Good to Go at its Asmara VMS Project in Eritrea

Michael Hopley Sunridge Gold now move forward to production next year
Sunridge Gold now move forward to production starting next year.

By Kevin Michael Grace | The Gold Report

It’s been a very active decade filled with milestones for Sunridge Gold, and now following the September signing of a comprehensive permitting agreement with its partner, the government of Eritrea, the Canadian junior is set to begin production in 2016. In this interview with The Gold Report, President and CEO Michael Hopley discusses the riches of his company’s copper, gold, zinc and silver deposits and looks forward to becoming as successful as Nevsun has been. Continue reading Sunridge Gold Now Good to Go at its Asmara VMS Project in Eritrea

Sunridge Gold’s Milestone Could Completely Re-rate the Stock

The Eritrean Ministry of Mines is expected to issue a Mining Permit in the middle of the year. That is what the market is eagerly awaiting to help re-rating the share values of Sunridge Gold to the better. (Picture shows the underground workings at Debarwa copper-gold deposit)

By 24hgold,

SUNRIDGE Gold (SGC-V, SGCNF-OTCQX) is a successful explorer orphaned by the market but that could soon change. The company is working in Eritrea. Sunridge made several discoveries on its Asmara project and has advanced them to feasibility level.

The feasibility numbers look great. Asmara has a Net Present Value of US$692 million pre-tax (US $428 million post-tax) and an IRR of 34% pre-tax (27% post-tax) using a 10% discount rate. Sunridge owns a 60% interest in the project. That equates to a post-tax NPV of US$257 million attributable to SGC shareholders against a current market valuation of US$25 million.  Continue reading Sunridge Gold’s Milestone Could Completely Re-rate the Stock

Sunridge is “a Buy” If Mining Permit Attained in Q2

The Asmara project, which has a three phase start-up plan outlined beginning with high grade copper and gold, is pegged to produce an average annual rate of 65 million pounds of copper, 184 million pounds of zinc, 42,000 ounces of gold and 1 million ounces of silver over the first eight years. All work is focused on bringing the project to production in 2015.

By Proactive Investors,

SUNRIDGE Gold (CVE:SGC) had its buy rating reiterated by Eric Coffin of HRA Advisories after a long awaited update on the company’s project in Eritrea and plans for 2015 last week.

The junior gold company said it will be focused this year on the first stage of its multi-staged production plan for its Asmara joint venture, namely the high grade supergene copper material that can be shipped directly to the smelter, known as the DSO operations. Continue reading Sunridge is “a Buy” If Mining Permit Attained in Q2

2015 Will be Crucial for Sunridge Gold in Eritrea

“We only need US$30m to finance our Phase 1A operation… not many people can say this: Cash now … production this year” – Micheal Hopley, CEO of Sunridge Gold

By James Fraser,

SUNRIDGE Gold (SGC:TSXV) is looking to follow in the foot steps of Nevsun Resources (NSU:TSX) and become the next Canadian listed miner in Eritrea, Africa. A feasibility study has been completed on four advanced stage projects that shows strong economics of a $692 million NPV (10% discount rate) and 34% IRR.

We were lucky enough to catch up with Micheal Hopley, CEO of Sunrdige Gold for a couple minutes at the recent Vancouver Resource Investment Conference.

A busy year is in the plans as permits, a debt financing, and production are all on the agenda for this small company in 2015. Continue reading 2015 Will be Crucial for Sunridge Gold 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’s Economic Growth Improved in Q3 2014

Eritrea’s Macro-Economic stability continues to gain momentum. According to the World Bank global growth forecast, Eritrean economy will show a growth by 3.0%, 4.0%, and 4.3% for the period between 2015 – 2017.

By East Africa Quarterly Bulletin,

THE East Africa Quarterly Bulletin, which monitors socio-economic developments across the continent, has been released by country economists and country program officers of the African Development Bank Group’s (AfDB) East Africa Regional Resource Center (EARC), Nairobi, Kenya.

According to the report, Economic growth in Eritrea improved during the third quarter (Q3) of 2014, supported by increased production in the mining sector and continued development of the Asmara mining project, which is expected to produce copper, zinc, gold and silver by mid-2015. Continue reading Eritrea’s Economic Growth Improved in Q3 2014