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Recent News
  • New! Share purchase agreement executed to sell Sunridge Gold's 60% interest in the Asmara Mining Share Company, holder of the Asmara Project, to Sichuan Road & Bridge Mining Investment Development Corp. Ltd. for US$65 M, November 6, 2015
  • Feasibility Study on the Asmara Project [base metal & gold] completed May 2013 demonstrating very strong economics; NPV (10%) = $692 million, IRR = 34%
  • Feasibility Study outlined a robust mining plan with a 3 phase staged start-up with Phase 1 production beginning in 2016
  • Phase 1A Direct Shipment Ore (DSO) initial capital costs estimated to be only $30M
  • Full production to be achieved in 3 years -- first 8 years average annual production:
    • 65 million lbs. (29,000 t) Copper
    • 42,000 oz Gold
    • 184 million lbs. (83,000 t) Zinc
    • 1 million oz Silver
  • Project has government participation from the Eritrean National Mining Corporation ("ENAMCO"); Sunridge has now received the first $5 million of $18.33 million (for 30% purchase of the project)
  • ENAMCO is now funding the next $6 million on the Asmara Project and is then responsible for 33.33% of all development costs going forward
  • Pipeline deposits, Adi Rassi and Kodado, now 5th and 6th resources on the Asmara Project -- significant exploration potential
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