This Day On The Street
Continue to site
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

Sunridge Gold Submits SEIA Report To Government For The Asmara Project

Sunridge Gold Corp. (the “Company” or “Sunridge”) (SGC:TSX.V/SGCNF:OTCQX) is pleased to announce that the summary of the Social and Environmental Impact Assessment (SEIA) report for the Company’s Asmara Project located in Eritrea has been submitted to the Ministry of Energy and Mines. This begins the permitting process for application of the mining license for the Asmara Project which is expected to take nine to twelve months. In addition, other related documents such as the full SEIA appendices and the draft Social and Environmental Management Plan (SEMP) will be submitted to the Ministry in January and February 2014, respectively. The SEIA document was prepared by the international consulting firm Knight Piésold Ltd. with input from a variety of international and national environmental and social specialist companies as well as Sunridge social and environmental staff.

The Company is also pleased to announce the employment of Mr. Chris Attwood, Operations Manager for the Asmara Project. Mr. Attwood is a mining engineer with over 10 years of experience the last 2 of which was as Mine Manager at the Bisha Mine, Eritrea. He will manage the mine operational activities as the project advances into construction and operations.

The Asmara Project feasibility study (the “Study”) was completed May 2013 and demonstrated that the mining of four of the six deposits that make up the Asmara Project (Emba Derho, Adi Nefas, Gupo Gold and Debarwa) and processing of the ore at a central location near the large Emba Derho deposit is economically robust with a net present value of $692 million (using a 10% discount rate) and with an internal rate of return of 34%. The Study outlines a three-phase start-up mining operation which would initiate production in 2015 starting with high-grade copper and gold direct shipping ore production from the Debarwa deposit and heap-leaching of near surface gold, followed by supergene copper production, then zinc and copper at a full production rate of 4 million tonnes per year.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs