Tag Archives: Debarwa

Sunridge Gold Plans Commercial Production at Debarwa by End of 2016

Sunridge Gold now move forward to production starting next year.
Another Canadian junior mining company is set to go for commercial production of gold and copper from its Debarwa deposit in Eritrea by end of next year.

By Alastair Ford | for Proactive Investors,

“We’ve been involved in Eritrea since 2003,” says Sunridge Gold’s (CVE:SGC) Greg Davis.

Indeed it was back in August of that year that the company first took an option on the Asmara and Debarwa copper-gold projects not far away from the Eritrean capital Asmara itself, right in the centre of the country.

But this was no shot in the dark taken by a company casting around for opportunity in the boom that was then gathering.

Rather, it was a calculated move by a group of people who were getting to know Eritrea pretty well via what was to eventually be the country’s great mining success story: Nevsun (TSX:NSU). Continue reading Sunridge Gold Plans Commercial Production at Debarwa by End of 2016

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

Sunridge Gold to Raise up to $3 mln for Asmara Project

The company is moving ever closer to production with the Vancouver-based exploration and development company very much focused on its flagship copper-zinc-gold-silver project in the eastern-African nation of Eritrea, making notable progress.

Sunridge Gold following in the foot steps of Nevsun

By  Ian Lyall,

Sunridge Gold Corp. (CVE:SGC) (OTCQX:SGCNF) has been steadfast in the advancement of its Asmara project in Eritrea, making progress on all fronts, with the latest development being a plan to raise up to $3 million in a private placement.  Continue reading Sunridge Gold to Raise up to $3 mln for Asmara Project

Sunridge Gold Update – Activity on the Asmara Project

Is Sunridge Gold the next Nevsun?

By Suridge Gold,

Sunridge Gold Corp. (the “Company”) (SGC:TSX.V/SGCNF:OTCQX) is pleased to provide an update of activities on the Asmara Project in Eritrea.

The Asmara Project feasibility study (the “Study”) was completed in May and demonstrated that the mining of four advanced deposits that make up the Asmara Project (Emba Derho, Adi Nefas, Gupo Gold and Debarwa) and processing of the ore near the large Emba Derho deposit is economically robust with a Net Present Value (“NPV”) of $692 million (using a 10% discount rate) and with an internal rate of return (“IRR”) of 34%.  Continue reading Sunridge Gold Update – Activity on the Asmara Project

Sunridge Gold Announces $837m NPV Feasibility Study for the Asmara Project

Sunridge Gold will commence initial production on the four deposits (Asmara Project) in mid-2015

By Sunridge Gold,

Sunridge Gold Corp. (SGC:TSX.V/SGCNF:OTCQX) is pleased to announce the completion and positive results of an independent feasibility study (the “Study“) by lead engineer SENET (Pty) Ltd. (“SENET”) for its Asmara Project in Eritrea.

The Study demonstrates that the mining of all four advanced deposits that make up the Asmara Project (Emba Derho, Adi Nefas, Gupo Gold and Debarwa) and processing of the ore near the large Emba Derho deposit is economically robust with a Net Present Value (“NPV”) of $837 million. The Study outlines a three-phase staged start-up mining plan which would initiate production almost one year earlier than was envisaged in the prefeasibility study. Continue reading Sunridge Gold Announces $837m NPV Feasibility Study for the Asmara Project

Eritrea to Buy 30% Interest of Sunridge’s Asmara Project

The Asmara Project that consists of four mineral deposits (Emba Derho, Debarwa, Adi Nefas and Gupo) will be the largest mine in Eritrea

Sunridge Gold, the next Nevsun, will soon reach to its final stage – production

By Sunridge Gold,

Sunridge Gold Corp. (the “Company” or “Sunridge”) (SGC:TSX.V/SGCNF:OTCQX) is pleased to announce that the Eritrean government through the Eritrean National Mining Corporation (“ENAMCO“) has informed the Company that ENAMCO intends to acquire a 30% paid participating interest in the Company’s Asmara Project in Eritrea.  Continue reading Eritrea to Buy 30% Interest of Sunridge’s Asmara Project