Even as it presses ahead with talks with would-be buyers, Sunridge Gold is pushing ahead faster than ever on its gold project at Asmara in Eritrea.
The explorer, listed in London and headed by Michael Hopley, has submitted the summary of the Social and Environmental Impact Assessment (SEIA) report for the Project earlier last month, a necessary condition of applying for a mining license.
In the first quarter of this year, a number of mining engineering firms short-listed by Sunridge are to submit their bids for an EPCM (engineering procurement & construction management contract) to build the mine.
While it advances, Sunridge is in talks with the Eritrean National Mining Corp (ENAMCO) to establish a price for the latter’s 30% holding in the Asmara operation. It has also retained Micon International Ltd. to carry out due diligence on the project by the beginning of the year so as to submit the findings to potential financiers.
To oversee work carried out by the winner, the Canadian junior has hired Chris Attwood, former mine manager at the Bisha gold mine in the country.
Completed in May, Asmara’s feasibility study recommended that mining on four of the project’s six deposits, namely Emba Derho, Adi Nefas, Gupo Gold and Debarwa, should begin in 2015.
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