Tag Archives: Mining Permit

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

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