By Deborah Bacal
Proactive Investors
Sunridge Gold (CVE:SGC) is seen as a likely candidate for a doubling in share price from current levels, according to precious metals expert Brien Lundin’s Gold Newsletter.
“All in all, I see Sunridge as a very likely double from current levels as it is either bought out or goes into production over the next 18 months or so,” he wrote in the August edition. “With much greater potential upside, it’s an outstanding mix of lowered risk and near-term rewards and a buy.”
The company, which is advancing its Asmara project in Eritrea to production, has combined four advanced deposits under one feasibility study with the goal of staging production, with mining revenue from one stage helping to fund successive stages. As a result, the economics show some “fairly low capital costs to go into production,” Lundin said.