Nevsun, Sunridge stocks soar on hopes of restarting Eritrean...

Nevsun, Sunridge stocks soar on hopes of restarting Eritrean mining projects
1/5/05

VANCOUVER, Jan 05, 2005 (The Canadian Press via COMTEX) --
Shares in Nevsun Resources Ltd. and Sunridge Gold Corp. soared Wednesday after they disclosed that the government of Eritrea is willing to meet with executives to discuss a work halt on their projects ordered by the African country in September.

Shares in Nevsun (TSX:NSU) jumped 76 cents, or 35.5 per cent, to $2.90 Wednesday on the Toronto stock market. Sunridge Gold shares (TSXV:SGC) added 45 cents, or 67 per cent, to $1.12.

Nevsun, Sunridge and its joint venture partner, Sub-Sahara Resources NL, said the three mining companies have received letters from Eritrea's minister of energy and mines asking for a meeting in the near future.

According to Vancouver-based Nevsun, the letter commends the company's "patience and co-operative stance."