Tag Archives: AMSCo

Sunridge Gold On Track to Start Production In 2015 On the Asmara Project, Eritrea

All eyes on Suridge's Asmara Project. Progress with regard to negotiations with ENAMCO as well as mining permitting process are two factors Investors and lenders want to see before pouring money into the project
Lenders won’t repeat the Bisha mistake this time around with the Asmara Project. After the successful Shareholder Agreement with ENAMCO and the start of mining permit process, lenders are scrambling to finance the lucrative project that is on track to start production in 2015.

By Sunridge Gold,

SUNRIDGE GOLD Corp. (the “Company” or “Sunridge”) (SGC: TSX.V/SGCNF: OTCQX) is pleased to report that the recent signing of the shareholder agreement with the Eritrean National Mining Corporation (“ENAMCO”) has accelerated activities on the Asmara copper-zinc-gold project (the “Asmara Project“) so that subject to permitting and funding the Asmara Project is on track to commence production in 2015.

The Asmara Project is to be held and operated by the Asmara Mining Share Company (“AMSCo“) and will be owned 60% by Sunridge 40% by ENAMCO.  Continue reading Sunridge Gold On Track to Start Production In 2015 On the Asmara Project, Eritrea

Sunridge Gold Signs Shareholder’s Agreement With ENAMCO

The deal will bring Sunridge Gold US$11 mln in funding this year. The Asmara project is pegged to produce an average annual rate of 65 million pounds of copper, 184 million pounds of zinc, 42,000 ounces of gold and 1 million ounces of silver over the first eight years. All work is focused on bringing the project to production in 2015.

By Sunridge Gold,

SUNRIDGE Gold Corp. (the “Company” or “Sunridge”) (SGC: TSX.V/SGCNF: OTCQX) is pleased to announce that Sunridge and the Eritrean National Mining Corporation (“ENAMCO”) have executed a shareholders’ agreement (the “Shareholders’ Agreement”) to organize and operate the Asmara Mining Share Company (“AMSCo”) the operating entity which will own and operate the Asmara copper-zinc-gold mining project (the “Property”) in Eritrea.  Continue reading Sunridge Gold Signs Shareholder’s Agreement With ENAMCO