By Michael Curran (Beacon Securities Ltd.),
WE are initiating coverage of Sunridge Gold Corp. (SGC-V) with a BUY rating and a 12-month target price of $0.55/sh.
Sunridge’s Asmara Project looks to be a robust project capable of generating significant cash flows over a 17-year mine life. Annual production is forecast to average 65 million pounds (29Kt) of copper, 184 million pounds (83Kt) of zinc, 42Koz of gold and 1.0MMoz of silver per annum during the first 8 years of primary sulphide ore mining (Phase 2-3). Continue reading Sunridge Gold Poised to Become Eritrea’s Next Miner