Tag Archives: Eritrea Mining

(VIDEO) Nevsun’s Transition to a Significant Zinc Producer

By CEO.ca,

Scott Trebilcock, Chief Development Officer, Nevsun Resources speaks at the Subscriber Investment Summit in Toronto on March 5, 2016. Nevsun is a copper and zinc producer in Eritrea with a history of exploration success and disciplined growth. Continue reading (VIDEO) Nevsun’s Transition to a Significant Zinc Producer

Colluli Potash Project to Cost US $289m

Very robust potash project. Danakali has released a very strong DFS for its large potash (SOP) project in Eritrea.

By Fraser Beattie,

A definitive feasibility study on potash explorer Danakali’s Colluli project in Eritrea has found a 30 per cent reduction in development costs to $US 298 million.

Danakali, which owns the Colluli project in a 50:50 joint venture with the Eritrean National Mining Corporation, said phase one development costs had been reduced by 30 per cent, with the project expected to produce about 425,000 tonnes per annum of sulphate of potash (SOP) when commissioned at the end of 2018.

Phase two of the project is expected to begin after six years of production and boost the project’s output to 850,000t/year of SOP at an additional cost of $US 175 million.

Colluli, which has an expected 200-year mine life, has a net present value of $US860 million based on an SOP price of $US 572 per tonne.  Continue reading Colluli Potash Project to Cost US $289m

Sunridge Gold Hails Key Mining Approvals in Eritrea

By Proactive Investors,

Michael Hopley, Chief executive of Sunridge Gold Corp (CVE:SGC), says he is delighted the firm’s partner has secured three key mining licences in Eritrea for its Asmara project. Asmara Mining (AMSC), a joint venture 60% owned by the Canadian group, has been awarded licences encompassing four advanced deposits – namely Emba Derho, Adi Nefas, Gupo Gold and Debarwa.

These areas were all incorporated into the feasibility study for Asmara, a proposed copper-zinc-gold mining operation. Continue reading Sunridge Gold Hails Key Mining Approvals in Eritrea

Nevsun and its Zinc Processing Plant in Eritrea (Update-III)

By TesfaNews,

NEVSUN Resources recently announced a new Volcanogenic Massive Sulphide (VMS) discovery 20 kilometres to the southwest of its operating Bisha Mine in Eritrea.

We already knew the Bisha project was a VMS project and all VMS-projects occur in one large deposit (in this case the Bisha mine) but also contain several smaller satellite deposits as a cluster around the main deposit. Since 2012, Nevsun Resources has been focusing on effectively finding those satellite deposits.  Continue reading Nevsun and its Zinc Processing Plant in Eritrea (Update-III)

South Boulder Mines Raises $1.8M for Colluli Potash

By Proactive Investors,

The next move to place the shortfall of $1.5 million worth of shares ensures that South Boulder Mines is well funded to deliver a high quality definitive feasibility study (DFS) for Colluli later in 2015. Already, the 1.1 billion tonnes maiden ore reserve dwarfs many planned and current large scale potash operations in the world.

SOUTH Boulder Mines (ASX:STB) is well positioned to complete the Definitive Feasibility Study for its Colluli potash project in Eritrea with shareholders applying for $1.8 million worth of shares under its rights offer priced at $0.25.

The subscription for 7,336,337 shares represents a strong take-up of 54.7% of the 13,400,167 shares on offer, in challenging capital markets.  Continue reading South Boulder Mines Raises $1.8M for Colluli Potash

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