Tag Archives: DSO

Sunridge Gold Expects Mining Operations to Start this Year

"... much of [Sunridge Gold] management's recent attention has been on the permitting process for the development of the Asmara Project ..." - President and CEO, Michael Hopley
“… much of [Sunridge Gold] management’s recent attention has been on the permitting process for the development of the Asmara Project …” – President and CEO, Michael Hopley
By Proactive Investors,

SUNRIDGE GOLD (CVE:SGC) (OTCQX:SGCNF) after starting field work in 2014 is advancing its joint venture Asmara project in Eritrea, expecting to acquire a mining license for the property, eyeing mining operations to start in the fourth quarter of this year.

Sunridge said that it would obtain the mining license within the first half of 2015 after receiving favorable feedback from the Ministry of Energy and Mines (MEM), which mandated a review of the Feasibility Study and the Social and Environmental Impact Assessment (SEIA) last January.  Continue reading Sunridge Gold Expects Mining Operations to Start this Year

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

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