Tag Archives: Re-rating

Sunridge Gold Poised to Become Eritrea’s Next Miner

Much of the political risk of investing in Eritrea has been removed by the combination of Nevsun Resources' success and the involvement of the Government of Eritrea as a significant partner in any given project
Much of the political risk of investing in Eritrea has been removed by the combination of Nevsun Resources’ success and the involvement of the Government of Eritrea as a significant partner in any given project. Beacon Securities Ltd. consider Sunridge Gold as an attractive investment and a re-rating of the company would be held as soon as the major catalysts like permits and financing are secured

By Michael Curran (Beacon Securities Ltd.),

WE are initiating coverage of Sunridge Gold Corp. (SGC-V) with a BUY rating and a 12-month target price of $0.55/sh.

Sunridge’s Asmara Project looks to be a robust project capable of generating significant cash flows over a 17-year mine life. Annual production is forecast to average 65 million pounds (29Kt) of copper, 184 million pounds (83Kt) of zinc, 42Koz of gold and 1.0MMoz of silver per annum during the first 8 years of primary sulphide ore mining (Phase 2-3).  Continue reading Sunridge Gold Poised to Become Eritrea’s Next Miner