Sunridge Gold Raises Post-tax Net Present Value for Asmara

Sunridge Gold Corp. (TSXV:SGC,OTCQX:SGCNF) announced that the base case post-tax net present value for its Eritrea-based Asmara project has risen from $345 million to $428 million.

As quoted in the press release:

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.

Click here to read the full Sunridge Gold Corp. (TSXV:SGC,OTCQX:SGCNF) press release.