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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Aug 10 2011 - 16:55:59 EDT
Sunridge appoints financial advisory firm for Asmara development options
Wednesday, August 10, 2011 by
<http://www.proactiveinvestors.com.au/about_us> Deborah Sterescu
Sunridge Gold Corp. (
<http://www.proactiveinvestors.com.au/companies/news/18505/companies/sponsor
s_landing/650/sunridge-gold--0650.html> CVE:SGC) said Tuesday that it has
enlisted finacial advisory services with respect to the company's debt
financing requirements for the development of its Asmara project in Eritrea.
The mineral explorer said that the feasibility study at its Debarwa
copper-gold-zince deposit is now past the half way point of completion, and
the pre-feasibility study at its Asmara North project is also well advanced,
leaving it a critical point where it must make "some fundamental decisions"
about how these projects should progress towards mining.
Endeavour Financial International will advise Sunridge on different
development options at this stage, having previously provided assistance to
Nevsun Resources on the Bisha precious and base metal deposit, which is now
in production just west of Asmara.
Once Sunridge receives the approval of the TSX Venture Exchange, it said it
will issue Endeavour 1.0 million share purchase warrants, alongside monthly
payments, milestone fees, and a success fee on the closing of any debt
financing.
Aside from Asmara, Sunridge, with $16 million of available cash, also has
exploration properties in Madagascar.
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