http://cyberadal.com/2013/05/16/837-million-net-present-value-feasibility-study-for-the-asmaraeritrea-project-the-wall-street/
http://cyberadal.com/
VANCOUVER, British Columbia–(BUSINESS WIRE)–May 16, 2013– Sunridge Gold
Corp. (SGC:TSX.V/SGCNF:OTCQX) is pleased to announce the completion and
positive results of an independent feasibility study (the “Study”) by lead
engineer SENET (Pty) Ltd. (“SENET”) for its Asmara Project in Eritrea. The
Study demonstrates that the mining of all four advanced deposits that make
up the Asmara Project (Emba Derho, Adi Nefas, Gupo Gold and Debarwa) and
processing of the ore near the large Emba Derho deposit is economically
robust with a Net Present Value (“NPV”) of $837 million. The Study outlines
a three-phase staged start-up mining plan which would initiate production
almost one year earlier than was envisaged in the prefeasibility study.
This earlier cash-flow, combined with capital cost reductions, reduces the
initial capital requirements to be financed by over $130 million.
Ibrahim Suliman
Received on Thu May 16 2013 - 22:15:56 EDT
