Sunridge Gold Corp. (the “Company” or “Sunridge”) (TSX.V: SGC/ OTCQX: SGCNF) is pleased to announce that Sichuan Road & Bridge Mining Investment Development Corp. Ltd. (“SRBM”) and the Company have completed the purchase and sale of Sunridge’s 60% interest in the Asmara Mining Share Company (“AMSC”) on April 26, 2016.
The stocks of Nevsun Resources (TSE:NSU) and Sunridge Gold Corp (CVE:SGC) were huge yesterday, March 22, 2016 as their stocks showed an increase by 2.51% or $0.11 hitting $4.5 per share for Nevsun and an increase by 1.72% or $0.005, hitting $0.295 per share for Sunridge Gold.
Sunridge Gold (SGC: TSX.V/SGCNF: OTCQX) has struck a US$65 million cash deal to sell its 60% interest in the Asmara Mining Share Company (AMSC), holder of the Asmara Project in Eritrea, to state-owned Sichuan Road & Bridge Mining Investment Development Corp. Ltd. (SRBM) for an upfront purchase price of US$65 million cash. Continue reading Sunridge Gold Sold its 60% Share in Eritrea Mine to China→
“We’ve been involved in Eritrea since 2003,” says Sunridge Gold’s (CVE:SGC) Greg Davis.
Indeed it was back in August of that year that the company first took an option on the Asmara and Debarwa copper-gold projects not far away from the Eritrean capital Asmara itself, right in the centre of the country.
But this was no shot in the dark taken by a company casting around for opportunity in the boom that was then gathering.
Sunridge Gold Corp. is pleased to announce that the Eritrean Ministry of Energy and Mines has awarded three mining licenses to the Asmara Mining Share Company (AMSC), a joint-venture company of which Sunridge owns 60% and the Eritrean National Mining Corporation owns 40%.
It’s been a very active decade filled with milestones for Sunridge Gold, and now following the September signing of a comprehensive permitting agreement with its partner, the government of Eritrea, the Canadian junior is set to begin production in 2016. In this interview with The Gold Report, President and CEO Michael Hopley discusses the riches of his company’s copper, gold, zinc and silver deposits and looks forward to becoming as successful as Nevsun has been. Continue reading Sunridge Gold Now Good to Go at its Asmara VMS Project in Eritrea→
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→