This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sunridge Gold Files Technical Report For Asmara North Preliminary Feasibility Study, Eritrea

Stocks in this article: SGC

Sunridge Gold Corp. (SGC:TSX.V/SGCNF:OTCQX) has today filed a National Instrument 43-101 compliant technical report regarding the preliminary feasibility study (the “Study”) for the zinc-gold-copper volcanogenic massive sulphide (VMS) deposits on the Company’s 100% owned Asmara Project, Eritrea as announced on May 2, 2012.

The Study concluded that operating all four deposits of the Asmara Project (Emba Derho, Adi Nefas, Gupo Gold and Debarwa) as an integrated operation with ore being processed at a single central mill is technically feasible and is the optimum economic situation and recommends that the project be advanced to a feasibility study.

Base Case Highlights:

  • Net Present Value (“NPV”) of $555 million at a 10% discount (pre-tax base case) (NPV @ 0% discount - $1,642 million)
  • Internal rate of return (IRR) - 27%
  • Payback - 3.5 years
  • Base Case metal prices used - US$3.28/lb copper, US$0.99/lb zinc, US$1,111/oz gold, US$21.00/oz silver
  • Initial capital cost estimate - $489 million including a contingency and owners costs
  • On site operating costs - $25.78 per tonne average through life of mine
  • Average annual metal production -
    • 56.9 million pounds (25,900 tonnes) of copper
    • 136.0 million pounds (61,800 tonnes) of zinc
    • 26,000 ounce of gold
    • 695,000 ounces of silver
  • Total metal production –
    • 804 million pounds (365,000 tonnes) of copper
    • 1.789 million pounds (812,000 tonnes) of zinc
    • 415,000 ounces of gold
    • 11 million ounces of silver
  • Life of Mine – 15.25 years

The report is titled “Asmara North Preliminary Feasibility Study” with an effective date of May 1, 2012.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,067.61 +37.40 0.21%
S&P 500 2,090.50 +8.62 0.41%
NASDAQ 4,799.8510 +26.3790 0.55%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs