2015 Will be Crucial for Sunridge Gold in Eritrea

Development News Video
"We only need US$30m to finance our Phase 1A operation... not many people can say this: Cash now … production this year" -  Micheal Hopley, CEO of Sunridge Gold
“We only need US$30m to finance our Phase 1A operation… not many people can say this: Cash now … production this year” – Micheal Hopley, CEO of Sunridge Gold

By James Fraser,

SUNRIDGE Gold (SGC:TSXV) is looking to follow in the foot steps of Nevsun Resources (NSU:TSX) and become the next Canadian listed miner in Eritrea, Africa. A feasibility study has been completed on four advanced stage projects that shows strong economics of a $692 million NPV (10% discount rate) and 34% IRR.

We were lucky enough to catch up with Micheal Hopley, CEO of Sunrdige Gold for a couple minutes at the recent Vancouver Resource Investment Conference.

A busy year is in the plans as permits, a debt financing, and production are all on the agenda for this small company in 2015.

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ALSO READ : Sunridge Announces US$32 Million 2015 Budget for Asmara Project
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The following is a transcript of the above video.

Michael Hopley, President and CEO, Sunridge Gold, Cambridge House transcript:

Well I think Sunridge has over come a lot of challenges in the last couple years, particularly raising money of course is the big one.

I think most of our challenges for 2015 are more like milestones I would say.

Acquiring our mining license in Eritrea which is the next big milestone. It is not really a  challenges for us as it is a  process the government has created for themselves and they have to finish that.

Financing our Phase 1 operation which is pretty small it is only a $30 M CAPEX for Phase 1. I do not think that is going to be a huge challenge as we have already had advanced stage negotiations. I think we will overcome that challenge.

Third challenge and probably the most difficult one I think is getting that through to investors. Markets have been awful and good news has been created with selling.

The biggest challenge I think is communication to shareholders or potential shareholders. I don’t think we have any novel ideas to get the message out to shareholders but we do stand out. We have money we are not looking for money other than debt for our project. We have plenty of cash to see us through all of this year and probably the next. Secondly, we will be in production this year and not many people can say that. Cash now… production this year.