Last C$0.19 CAD
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Volume 46.0K
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sunridge gold corp (SGC) Snapshot

Open
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Previous Close
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52 Week High
02/14/14 - C$0.31
52 Week Low
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Market Cap
39.9M
Average Volume 10 Days
234.7K
EPS TTM
C$-0.04
Shares Outstanding
209.9M
EX-Date
--
P/E TM
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Dividend
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Current Stock Chart for SUNRIDGE GOLD CORP (SGC)

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sunridge gold corp (SGC) Details

Sunridge Gold Corp. focuses on the acquisition, exploration, discovery, and development of base and precious metal deposits in East Africa. It holds a 100% interest in the Asmara copper-zinc-gold-silver project covering 111 square kilometers located in Eritrea. The company is headquartered in Vancouver, Canada.

sunridge gold corp (SGC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$250.0K
Corporate Secretary and Director
Total Annual Compensation: --
Vice President of Business Development
Total Annual Compensation: C$160.0K
Vice President of Project Development
Total Annual Compensation: C$230.0K
Exploration Manager
Total Annual Compensation: C$220.0K
Compensation as of Fiscal Year 2013.

sunridge gold corp (SGC) Key Developments

Sunridge Gold Corp. and Eritrean National Mining Corporation Announce on Track to Start Production in 2015 on the Asmara Project, Eritrea

Sunridge Gold Corp. reported that the recent signing of the shareholder agreement with the Eritrean National Mining Corporation has accelerated activities on the Asmara copper-zinc-gold project so that subject to permitting and funding the Asmara Project is on track to commence production in 2015. The Asmara Project is to be held and operated by the Asmara Mining Share Company and will be owned 60% by Sunridge 40% by ENAMCO. The mining plan in the Asmara Project feasibility study completed in 2013 outlined a 3 phase start up designed to reduce initial capital costs. In Phase 1A, the high-grade copper will be mined from the Debarwa deposit by open-pit methods, crushed and loaded into containers and transported 120 km to the port facility at Massawa for shipping and sale to a smelter. This DSO zone contains 116,000 tonnes of high-grade material with an average grade of 15.6% copper, 2.96 g/t gold, and 76.8 g/t silver. In order to access the DSO zone, which is found about 30 meters from surface, the enriched gold oxide cap at surface will be mined and this material along with the similar gold cap from Emba Derho will make up Phase 1B which is the open-pit mining of the gold caps from both deposits with recovery of the gold by heap-leaching methods. Providing that the mining license is issued by the government to AMSCo as expected in late 2014 or early 2015, and funding is in place, and then Phase 1 production is on track to start in the fourth quarter of 2015.

Sunridge Gold Corp. Reports Updated Values from the Financial Model for the Asmara Project Feasibility Study

Sunridge Gold Corp. reported that it has received updated values from the financial model for the Asmara Project Feasibility Study (the "Study") which increased the Base Case post-tax net present value ("NPV") from $345 million to $428 million. The increased numbers are based on the Company receiving clarity on the tax laws of Eritrea, specifically the application of historic expenditures and depreciation in the financial model. The pre-tax value of $692 million for the Study remains unchanged. The results of the Study were initially reported on May 28, 2013 and amended on August 21, 2013. 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 pre-tax NPV (using a 10% discount rate) of $692 million and a post-tax NPV (10% discount rate) now at $428 million. The new post-tax number is a significant increase of $83 million from the original post-tax NPV (10%) of $345 million. The following outlines the Base Case Highlights from the Study. NPV of $692 million at a 10% discount (pre-tax). NPV of $428 million at a 10% discount (post-tax). Internal rate of return (IRR) -- pre-tax 34%, post-tax 27%. Base Case metal prices used - $3.25/lb copper, $1.00/lb zinc, $1,400/oz gold, $25.00/oz silver. An amended Asmara Feasibility Technical Report which incorporates the updated application of Eritrean tax laws is being completed by lead engineering company SENET with support from Snowden Mining Industry Consultants Inc. on resource estimation, mine design, mine planning and economic modeling in addition to work by Knight Piésold Ltd. on water and waste management design. Blue Coast Metallurgy Ltd. directed metallurgical test-work.

Sunridge Gold Corp. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended February 28, 2014

Sunridge Gold Corp. reported unaudited earnings results for the second quarter and six months ended February 28, 2014. For the quarter, the company reported total revenues were CAD 1,192,174 against CAD 3,564,714 a year ago. Interest income was CAD 4,656 against CAD 19,697 for the same period a year ago. Loss per share, basic and diluted was CAD 0.01 against CAD 0.02 a year ago. For the six months ended, the company reported interest income of CAD 10,379 against CAD 33,444 for the same period a year ago. Basic and diluted loss per common share CAD 0.02 against CAD 0.04 a year ago. Net loss was CAD 3,160,068 against CAD 6,313,008 a year ago. Cash used in operating activities was CAD 10,225,460 against CAD 7,771,137 a year ago.

 

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