Company
CVE:SGC
Sunridge Gold Corp. (SGC-TSX-V) is an exploration and development company that completed a positive feasibility study for the high grade Debarwa copper, gold and zinc deposit on May 14, 2012 and a positive pre-feasibility study on all four deposits of the Asmara Project, Emba Derho, Adi Nefas, Debarwa and Gupo Gold on May 2, 2012 showing a Base Case NPV of $555 million and IRR of 27% (10% discount rate).
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“We are fortunate to have a tremendous level of support from our board of directors and it's exciting to be able to attract new investment to fuel our goal of making a new discovery in Red Lake," said Solstice Gold CEO Mike Timmins
The company's initial ten to 15 hole program, for 5,000 metres (m), was designed to test three main targets to an average depth of around 250m
"After a year of systematic technical work by our team, we are excited to reveal several well-developed drill targets which further demonstrate the potential of the property,” Solstice CEO Mike Timmins said
The new projects bring the company’s 100%-owned Lithium portfolio to 13 distinct assets
The gold exploration company said both data sets from New Frontier are in association with a major shear zone that suggests high potential for future gold discoveries
Sunridge Gold announces the delisting of its shares and warrants from the TSX Venture Exchange end of May 13
Sunridge Gold Corp will distribute around $88.7mln to its shareholders starting on May 18
Sunridge Gold Corp and Sichuan Road & Bridge Mining Investment Development Corp complete the purchase and sale of Sunridge's 60% interest in the Asmara Mining Share Company
Sunridge Gold Corp says completion of its sale of its 60% interest in the Asmara Mining Share Company to Sichuan Road & Bridge Mining Investment Development Corp. will take place on April 26, not April 25 as previously reported
The sale will now complete on 25 April, one week later than previously expected
Sunridge Gold says Sichuan Road & Bridge Mining Investment Development Corp expects to receive the final Chinese regulatory approvals for its purchase of Sunridge's 60% stake in Asmara Mining Share Company on April 18
Shares of Sunridge Gold rise after a Chinese regulator approves Sichuan Road & Bridge Mining Investment Development Corp's plans to buy the Canadian miner's 60% stake in Asmara Mining Share Company for $65mln cash
The shares currently trade at around 27 cents, and the company could be about to return not less than 35 cents a share to shareholders
The conditional approval paves the way for the company to dissolve and return surplus cash to shareholders
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A notable release this week came from tungsten explorer W Resources, which was granted development approval for its La Parrilla tunsgten mine
Sunridge's advisers and key shareholders told it to stop swimming against the tide
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A fairly busy week for miners with a milestone for Stratex International released yesterday. .
It prices the stake in the Asmara mine at a significant premium to Sunridge's market value
“We’ve been involved in Eritrea since 2003,” says Sunridge Gold’s (CVE:SGC) Greg Davis.
