Sunridge Gold completes $10-million private placement, Lundin Mining keeps its stake sgc.v, lun.to, czx.v, tnr.v, ngq.to, bnp, rio, fcx, tck, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to,

"We believe that Lukas Lundin will have to make his move and show that now - with cash flow from Tenke Fungurume and further expansion of production in DRC - he can build value in Lundin Mining itself. Realisation of the facts, described above, by the market could bring the share price north of CAD10.0 (we will not be surprised to see a target price of this magnitude with company's book value at around CAD5.2 now and E/P at CAD 0.13 in Q2 2010). Lukas will be again in a very favorable position after these very tough few years for the company. He can and should use his currency - shares in the company above CAD10.0 to buy another companies with sizable projects at still undervalued valuations among juniors. He should definitely, in our opinion, to study well opportunities for acquisition in CIBC report. His another company - NGeX Resources is a part of that M&A list with its properties in Argentina, Chile, Africa and Canada is moving up nicely in price these days as well. TNR Gold has a few J/V projects with NGeX Resources in Argentina. Lukas Lundin was buying recently NGeX Resources in the market."

Sunridge Gold completes $10-million private placement

2010-10-26 18:15 ET - News Release

Mr. Michael Hopley reports

SUNRIDGE GOLD RAISES $10 MILLION

Sunridge Gold Corp. has issued 20 million common shares and 10 million common share purchase warrants to raise gross proceeds of $10-million pursuant to a non-brokered private placement previously announced in Stockwatch on Sept. 24, 2010.

The company is pleased to acknowledge the continued support and participation of Lundin Mining Corp. in this private placement, as Lundin exercised its pre-emptive rights and acquired 2,255,728 units.

Each warrant entitles the holder thereof to purchase one common share in the capital of the company at a price of 75 cents until Oct. 26, 2012.

The common shares issued, and any common shares issued pursuant to the exercise of warrants prior to Feb. 27, 2011, are restricted from trading until Feb. 27, 2011.

The company paid finders' fees to persons who introduced it to private placement investors, consisting of $422,800 cash, 467,800 common shares and 158,900 warrants.

The proceeds of the financing will be used to finance the company's work programs at the Asmara project in Eritrea, exploration work at the Besakoa project in Madagascar and for general corporate purposes. Work programs at the Asmara project in Eritrea will include a full feasibility study for the Debarwa high-grade copper-gold deposit, a prefeasibility study for the combined Emba Derho, Adi Nefas, Gupo and Debarwa deposits, and drill programs at the Gupo and Medrizien gold projects."

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Gold and Copper in Africa: Sunridge Gold restarts exploration drilling at Asmara SGC.v, NGQ.to, TNR.v, GRC.to, PG.to, GG, NEM, ABX, NG.to, BVA.v, BVG.v, MXR.v, GBN.v, AMM.to, BTT.v, LAQ.v, GDX, HUI, XAU

"First Gold will make new all-time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double-game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. Markets will be volatile by all means and political tensions will be driving this Gold Bull as well."

"Sunridge Gold is on the move today with a big volume. Company has announced non brokered financing: with this kind of action we can expect either results from drilling or somebody serious will take the significant position in the company - will it be Antofagasta Minerals S.A., confirming the value of it is previous investment or somebody else will come into picture?"

Sunridge Gold restarts exploration drilling at Asmara

2010-10-06 13:58 ET - News Release

Mr. Michael Hopley reports

SUNRIDGE GOLD RESTARTS EXPLORATION DRILLING AND MOBILIZES A SECOND DRILL TO THE ASMARA PROJECT, ERITREA

Sunridge Gold Corp. has commenced a new exploration drilling program on the exploration areas of the Asmara project, Eritrea. This program consists of at least 3,000 metres of diamond drilling and is targeting areas that have the potential for large new discoveries. In addition, Sunridge has mobilized a reverse circulation drill rig to Eritrea in order to commence a 4,000-metre drill program at the Gupo gold deposit and a 1,000-metre program at the new Medrizien gold target within the next four to five weeks.

Sunridge Gold joint venture drilling program

The new joint venture drilling program is operated by Sunridge and financed by Antofagasta Minerals, and is focused on drilling new targets with the potential for significant new discoveries. Drilling will target the following areas:

Adi Watot:

This is a large area measuring approximately 1,200 metres long and 400 to 500 metres wide, where Sunridge and Antofagasta geologists have identified swarms of quartz veinlets in an area that has elevated copper geochemical values.

Adi Kubulo:

The geology of this area is similar to Adi Watot, although somewhat smaller, measuring about 400 metres long and approximately 200 metres wide.

Adi Watot -- Adi Kubulo corridor:

This target is a corridor between the Adi Watot and Adi Kubulo targets that measures about 3,500 metres long by approximately 400 to 500 metres wide and in which mapping has shown continuity of quartz veinlets in an area with elevated copper values.

Adi Rassi:

Drilling will test a possible northern extension of Adi Rassi that is associated with structurally controlled malachite showings. Assay results, from the previous drilling program showed long intervals of copper and gold mineralization, for example drill hole AR-002D, which had 84 metres with an average grade of 1.32 g/t gold and 0.84 per cent copper; the results indicate that a potentially large new copper and gold zone has been discovered at Adi Rassi. Geological mapping and sampling show that alteration associated with copper mineralization is visible over a zone that measures about 80 metres wide along a strike length of approximately 500 metres. Copper and gold mineralization at Adi Rassi is associated with quartz veins and breccia zones along a major shear zone that trends northeast for over three kilometres and dips steeply to the west.

Adi Lamza:

Surface and previous drill hole information from this prospect has identified a large area of phyllitic alteration which will be drill tested.

Adi Tsenaf:

This large area of quartz-vein stockwork measuring over 300 metres long will be drill tested.

First results from this new joint venture drilling program are expected to be received in November and will be announced on receipt.

Sunridge Gold drill program

The recently mobilized reverse circulation drill rig is expected to commence drilling at Sunridge's 100-per-cent-owned Gupo gold and Medrizien gold areas within the next four to five weeks, and will consist of 4,000 metres at Gupo and 1,000 metres at Medrizien.

Gupo gold project

The objective of the program is to upgrade the existing gold resource at Gupo, currently 189,000 ounces contained in 1,965,000 tonnes at an average grade of 2.99 g/t gold, from an inferred to an indicated category and to possibly increase the size of the resource. The gold resources at Gupo are considered to be a potential source of open-pit feed for any future mining operations at the northern projects area of the Asmara project (Emba Derho, Adi Nefas and Gupo).

Medrizien gold prospect

The objective of the Medrizien drill program is to make a new gold discovery on the Asmara project. A gold discovery and development of a resource could provide future feed to any mining operations in the northern area of the Asmara project. A total of 57 rock samples were taken from the surface showing of mineralized quartz veins and altered halo of volcanic rocks. The results showed 10 samples with assays over one g/t gold with the highest assay being 74.7 g/t gold. In addition, eight rock samples taken from the old underground workings range from 0.14 g/t up to a value of 319 g/t gold. The gold mineralization in the Medrizien gold prospect occurs in a stockwork of quartz veins associated with pyrite and chalcopyrite within a surrounding halo of sheared volcanic rocks with sericite and pyrite. This zone varies in width from a few metres up to 25 metres over a 3.5-kilometre strike length.

We seek Safe Harbor."

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Gold and Copper in Africa: Sunridge Gold is on the move with volume today GRC.to, PG.to, GG, ABX, TNR.v, BTT.v, GBN.v, ASM.v, SGC.v, NGQ.v, EPZ.v, CZX.v, ALK.ax, NEM, AUY, FCX

 

    Sunridge Gold is on the move today with a big volume. Company has announced non brokered financing: with this kind of action we can expect either results from drilling or somebody serious will take the significant position in the company - will it be  Antofagasta Minerals S.A., confirming the value of it is previous investment or somebody else will come into picture?

"Sunridge Gold Corp. (SGC-TSX-V) is a junior company that has successfully defined four independently estimated 43-101 mineral deposits on the Asmara Project, Eritrea in East Africa. A positive scoping study on the large Emba Derho copper-zinc-gold deposit was completed in June 2009.

The four deposits have total indicated 43-101-resources containing:

•1.28 billion pounds. of copper,

•2.5 billion pounds of zinc,

•1.05 million ounces of gold, and

•31.2 million ounces of silver

Sunridge recently entered into a strategic partnership with Antofagasta Minerals S.A. whereby Antofagasta has agreed to fund US $10,000,000.in exploration work on areas of the Asmara Project and has become the Company's largest shareholder through a US $5.0 million private placement.

Management: Sunridge is managed by an experienced team with a successful track record of discovery and development of precious and base metals projects with companies such as Bema Gold and Nevsun Resources."

 
 

   "Sunridge Gold is on the move today, it is our second rocket after Almaden Minerals in the last couple of weeks, something is boiling on in this one..."

 

  Sunridge Gold arranges $10-million private placement

2010-09-24 14:12 ET - News Release

Mr. Michael Hopley reports

Sunridgecens per unit. The company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the units for any reason. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of 75 cents for a period of two years from closing the private placement. The private placement and any modifications to it are subject to compliance with applicable securities laws and to receipt of regulatory approval. The company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.

The proceeds of the financing will be used to finance the company's work programs at the Asmara project in Eritrea and for general corporate purposes."

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