Tag Archives: Eritrea

Eritrea: Chalice Gold Listed in Toronto Stock Exchange

Gold trades above $1,300 per oz

Matthew Hill – 26November 2010

Perth-based Chalice Gold, exploring for gold in Eritrea, listed on the TSX on Friday, and chairperson Tim Goyder predicted its Zara project would have a capital payback period of “slightly over two years” at a $1 200/oz gold price.

According to a feasibility study, the Koka deposit at Zara would produce an average 104 000 oz/y with low cash operating costs of $338/oz and an initial mine life of seven years.

“With these robust economics, Chalice has, in cooperation with the Eritrean government, commenced the permitting process for the Koka project to facilitate the grant of a mining licence to enable development to commence during 2011,” Goyder told shareholders on Thursday at Chalice’s annual general meeting in Perth.    Continue reading Eritrea: Chalice Gold Listed in Toronto Stock Exchange

Frekalsi Debesay takes solo win in Rwanda

Eritrean Cyclist in Rwanda

The fifth stage of the Tour of Rwanda was won by Eritrean solo Frekalsi Abrha Debesay. At the line he had left a nineteen seconds ahead of his compatriot Dawit Araya. Which was in turn in a sprint with three South African rapper than Jason Bakke and Moroccan Abdelati Sadoun.

The decor of the fifth stage there was a lot of dirt roads. This caused many large differences. Standings leader Adrien Niyonshuti lost over two minutes on Abrha Debesay, but could still narrowly retained his leader’s jersey. He had eight seconds, Tesfai Teklit (Eritrea).