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.
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.
At the recentSubscriber Investment Summit in Vancouver, Sunridge Gold CEO Michael Hopley discussed the progress of the company’s Asmara project to a sold-out room, recently closing an oversubscribed financing of $5.75 million to fund further development.
Talks with potential debt lenders have also begun and an environmental assessment is due for completion this month.
Michael Hopley, President and CEO of Sunridge Gold (CVE:SGC) explains that the company, with money in the bank for the feasibility study, has a lot of copper and precious metals on the project and now hopes to be in production earlier than initially indicated. Michael also says that investors should look to exploration results next year.
Peter Grandich, Financial Adviser and Market Analyst is the founder of Grandich.com and Grandich Publications, LLC. He is also editor of The Grandich Letter which was first published in 1984. His commentary on the mining and metals markets have been read by tens of thousands of subscribers and relied upon by major financial media around the world.
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→