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As I was saying
I believe that this drop is an attempt to shake out retail .
Be well!
Unless there is truly something unexpectedly bad with timok economics announced, this is an unreal buying opp. I bought more this week .
Be well!
I guess. I bought a little at $2.10 before it dropped more. Value is there but the question is how long till it is realized.
T
Exactly. This will move nicely in time. I see two options: timok development or a takeover. I'm adding much more to an already healthy position and reinvesting the dividend while waiting.
Time required.
You already have 4% profit. Any time, look at TPRFF Gran, flat as a board for 6 months, then went up almost every day for the last month, about 70% rally.
Same could happen for NSU.
I just took a small 2,000 dollar position @ 2.1. Luckly time is on my side as I am not looking for immediate returns but, In your opinion, how long before we see any large jump and what would would be a reasonable pps when it does?
Agreed! This will require time. The new CEO recently took a $275,000 position - a month after taking over.
This will pay in a big way but time is required. Timok is a winner.
The problem is they have not put out good news, am sure there is some but since Aug bad news not a peep. Still have large position. In long run the super rich Timok mine will make this a winner. It would take off now if they just said something positive, like some drilling results.
There's been a lot of accumulation down here lately. This is so much untapped value in nevsun and once noticed, we're on green street!!!
Nice move today! Technical bounce or news leak?
Short term - your correct. Long term your entirely incorrect. My cost basis is 2.43 and I can easily afford to wait which was my plan to start.
No concerns at all here. Thanks for the comments though!
Just posting facts: NSU is a disaster ;)
I would have loaded, but had no available funds.
NSU!!
This is a steal at this level.
Anybody get anything under $2? I was a little tempted
Conf. Call shortly, Price bouncing.
That's what I see. It's not as bad as it looks plus they still have a large cash position
I wonder if the market is reacting negatively to the net loss of 70.2 mil? If so, that is just about equal to the write down, which should be just a paper loss with a tax benefit to boot. I think market is over reacting and a bounce back will come. JMO.
NSU!
Yep, I first cut was painful initially but if it didn't happen, we'd be dilutely in a bad way later.
Typical new CEO move... clean things up immediately essentially hanging the news on the Predecessor
Honestly I think that is a good idea. All cash should be reinvested into timok development
Yes Timok is the future. They don't want Bisha absorbing too much capex while they ramp up timok over the next 5 years. Mine life decrease at bisha is definitely a disappointment, but should be only short term pain for long term gain.
Yep, but they disclosed the Bisha news prior... timok is the future.
I see the dividend getting eliminated all together soon which is the best course anyway.
3 articles NSU,Silver,Gold
First up Silver looks very positive nearterm here https://seekingalpha.com/article/4083696-bubba-gump-silver-factory
2nd Gold moderately up https://seekingalpha.com/article/4083690-can-gold-fly-week-ahead
3rd and most important Article and comment after interview with upper management by investor in NSU 6-20-2017:
OK here is what found out on Copper circuit issue:
Talked with someone in upper management, appreciate him taking the time to talk with me.
1. They have not stockpiled copper concentrates that were not saleable as copper cons. They said that if they stored them or ran them through the copper circuit again oxidation would make them even worse, they sold them all as bulk cons and got only about 20% of copper value instead of normal 96%.
2. That issue is gone, since Feb they do have the copper circuit producing saleable copper cons. So financial results should improve a lot(me).
Total Reserves (Proven & Probable) Tonnes
(1000's) Copper % Zinc % Gold g/t Silver g/t
Primary 21,032 1.10 5.57 0.68 43.9
So based just on copper and zinc and the fact copper is about 2.2 times higher than zinc the copper should be 30% of revenue. And being they have been losing 76% of that revenue by my calcs they have been losing 22.8% of overall zinc/copper rev. The zinc circuit has always worked since they got into the primary ore. I am excluding gold and silver here FYI.
So JMHO we should expect about a 22.8% increase in overall revenue without an increase in expenses due to getting 96% of copper price instead of 20%. This is a BIG Deal, market has not priced this in yet.
3. The "transition" ore may persist to bottom we should not expect the ore to improve all that much. But being they are getting the zinc and copper out at full prices now, should be quite profitable. However it is not going to be as profitable as upper zone, the primary ore is not as rich.
4. There was a bunch of gold in upper supergene zone at Bisha, very rich in fact good enough to mine without the rich copper portion. The fellow concurred with me that it is hard to explain how that much gold got there from just the existing ore body. We both guessed it is likley a separate gold event put it there. Studies of this have come up with differing explanations, but raises possibility there will be gold alone and gold on top of copper/zinc deposits in Bisha area they have not found yet but are on lookout for.
5.VTEM http://bit.ly/2tKkhwZ The Company is planning to drill over 130,000 metres during 2017 across three countries. Approximately 90,000 metres will
be drilled in Serbia at the Timok Upper Zone, the Timok Lower Zone and Tilva, the latter two which are joint ventures with Freeport-McMoRan and Rio Tinto respectively.
Another 40,000 metres of exploration drilling is planned in Eritrea. Another critical activity to be completed in Eritrea during Q1 2017 is the completion of an airborne geophysical (VTEM) survey to identify shallow greenfield targets on the expanded Bisha exploration licenses.
And: http://bit.ly/2sMz6lr talks about this.
He said on VTEM Harena was a small target, yet ended up being a big deposit, approaching Bisha and "Hole HX-083, which is the deepest hole yet drilled at Harena, is relatively higher in copper than recent holes drilled above it and has an 11.0 metre interval grading 2.23% Cu, 4.92% Zn, 1.10 g/t Au, 79 g/t Ag including 2.6 metres grading 4.88% Cu, 7.79% Zn, 2.49 g/t Au, 201 g/t Ag. This suggests that the mineralizing system is strengthening and Borehole transient electromagnetic (BHEM) modeling indicates that the mineralization should continue down dip. Further drilling will determine if this is the case."
So bottom line is the chances are good there is another Bisha sized very rich supergene ore body on the property and maybe several as they have reported recently "A 6,386 line kilometre VTEM survey has been recently completed by helicopter over the Mogoraib River and Tabakin Exploration Licenses covering an area of 825 square kilometres. These licenses were acquired in mid-2016 and much of the area had never been covered by any geophysical survey. Preliminary results have highlighted many new anomalies that, by the nature of the survey, should be relatively shallow (i.e., less than 100 metre depth). Field evaluation is underway to determine the nature of the anomalies and over 11,000 metres of drilling has been allocated for the testing of targets."
My opinion is these shallow targets can be Bisha like rich supergene ore.
So Just my opinion Bisha district is worth about NSU's price or more ignoring Timok. The only real problem/mistake NSU has had (the copper circuit not working for 6 months or so), that has really hurt the stock. And that problem has been solved.
6. Timok is super rich as we all know. The BOR mine within miles can smelt the ore with virtually no transportation cost, big advantage. The BOR has 5,000 workers!! and gov basically subsidizes it now because they want mining jobs so bad, but its very marginal now after 90? years so if private would be shut down. The bottom line is Serbia is super pro mining, good for NSU. NSU is a solution to BOR being near end of life mining jobs wise for Serbia.
7. Timok is underexplored, they hope to find another upper zone nearby. As others here have pointed out just Timok alone is worth more than NSU price, I concur.
https://seekingalpha.com/article/4074662-nevsun-confusion-creates-value-opportunity
Feel free to use this info if someone wants to write an article.
Thanks. I am happy to have bought more there to lower my cost basis and increase my position size.
I still maintain that this a long term horizon hold
... I think you know this though
When this story really begins to unfold, watch out. This will move sharply!!!
Excellent call that was the bottom
Patience is all that's required here...
I think the conference call was pretty good. The only thing I'd like to see is slower cash burn but presumably the expected pick up in material output will help this aspect.
This is a steal at these prices but we'll need to wait into 2018 before we see the beginning of real appreciation.
VANCOUVER, April 27, 2017 /CNW/ - Nevsun Resources Ltd. (TSX:NSU)(NYSE MKT:NSU) (Nevsun or the Company) is pleased to report its financial and operating results for the three months ended March 31, 2017. Unless otherwise noted, with the exception of earnings per share and realized price and cost per pound figures, all financial results are in millions of US dollars.
Revenue doubled from Q4 and they are getting copper now, looks like good Q
First quarter 2017 highlights
Sold 66.5 million pounds of contained zinc in concentrate at C1 cash costs(1) of $0.89 per payable pound sold
Produced 3.3 million pounds of copper in concentrate and 51.9 million pounds of zinc in concentrate
Zinc recovery improved to 71.0% during Q1 2017 from 63.6% during Q4 2016
Announced a significant increase in resources at the Bisha Mine
Completed the geophysics survey at Bisha, generating promising new targets
Completed the planned infill drilling program for the Timok Upper Zone
Approved a new exploration program targeting additional high-grade mineralization at Timok
Ended period with working capital of $190 million, including $167 million of cash and cash equivalents
Declared quarterly dividend of $0.01 per share
"Timok remains the Company's number one priority to add shareholder value. We continue to achieve our key milestones including completion of infill drilling and progressing technical studies in support of the Timok project pre-feasibility study. We are on-track to commence decline development during 2017 and remain on-track to deliver the pre-feasibility study," stated Chief Executive Officer, Cliff Davis.
"We are making continued improvements at Bisha which is translating into improvements to our operating income quarter over quarter," stated Cliff Davis, "With copper sales expected during Q2 2017 and less bulk concentrate, we expect even further improvements for the remainder of 2017. We are also pleased with higher than planned quarterly zinc and copper production, which means the Company is on track to meet annual production guidance. We continue to make incremental progress on all key performance indicators."
Financial Review
Q1 2017
Q4 2016
Q3 2016
Q1 2016
Revenue (millions)
$
71.6
$
36.2
$
22.9
$
92.4
NAK wins big,NSU 2.59 Aftermarket? NSU up .10 in aftremkt, no news can see?
VANCOUVER , April 11, 2017 /PRNewswire/ - Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") announces that its 100%-owned US subsidiary Pebble Limited Partnership ("Pebble Partnership") has received notice of approval of a Miscellaneous Land Use Permit ("MLUP") from the Alaska Department of Natural Resources ("DNR") for its ongoing activities at the Pebble Project in southwest Alaska.
"The Alaska Department of Natural Resources and other state agencies have had an active oversight presence at the Pebble Project site for more than a decade, and have confirmed that Pebble is a well-managed exploration project," said Tom Collier, Pebble Partnership CEO. "We will continue our site operations in 2017 in full compliance with the State's permit conditions, and in a manner that protects the broader public interest in the lands and resources surrounding the Pebble property."
The Pebble Partnership is in the process of reviewing in detail the state land use permit received today. However, Collier confirmed Pebble will be advancing a program of work in Alaska in 2017 to prepare the project to initiate permitting under the Clean Water Act and National Environmental Policy Act.
Given the extensive work undertaken at the Pebble Project over the past decade or more, and anticipated future activity, the 2017 MLUP includes a requirement for a performance guaranty in the amount of $2 million related to any potential reclamation liability.
The Pebble Partnership maintains an operations base in Iliamna, Alaska with full-time staff responsible for care and maintenance of Pebble Project equipment, facilities and installations. Each year, Pebble staff undertake a program of inspections, and where necessary make repairs to ensure public safety and enhance reclamation, at the 1,300+ borehole sites on the property.
MoreCopper/Gold/Silver/Zinc VANCOUVER, April 4,- Nevsun Resources Ltd.(NSU) ("Nevsun" or the "Company") is pleased to announce new assay results from on-going drilling at Harena. These results include in-fill drilling of large gaps in the resource model, as well as new results from the testing of Harena at depth. Nevsun is also pleased to report that the 6,386 line kilometre VTEM (Versatile Time Domain Electromagnetic) airborne survey has been completed over an 825 square kilometre licensed area at Bisha.
Highlights
Intersected 18.4 metres of 1.65% Cu, 4.03% Zn, 0.82g/t Au, 55g/t Ag extending the deposit by 150 metres
Borehole electromagnetic surveys suggest further down plunge extensions likely
Additional new drilling results include:
57.4 metres of 0.37% Cu, 7.08% Zn, 0.17g/t Au, 9g/t Ag
44.5 metres of 0.49% Cu, 6.51% Zn, 0.43g/t Au, 29g/t Ag
40.5 metres of 0.76% Cu, 4.82% Zn, 0.18g/t Au, 18g/t Ag
84.0 metres of 0.80% Cu, 4.72% Zn, 0.27g/t Au, 15g/t Ag
Preliminary VTEM survey results highlight numerous new untested shallow drill targets
Cliff Davis, Nevsun CEO, commented, "The new drilling demonstrates that the already sizeable Harena resource extends 150 metres beyond its currently modelled limits, further enhancing the potential for underground mining. We are particularly encouraged by the increasing copper content which indicates the mineralizing system is strengthening." Mr. Davis went on to say, "The recently completed airborne survey over the Mogoraib River and Tabakin Exploration Licenses that were acquired in 2016 has highlighted a significant number of new shallow drill targets. Evaluation of the highest priority anomalies is currently underway but the full suite of targets will take years to pursue. As we have always stated, Bisha is evolving into a large VMS district with exploration still in its infancy."
Harena
Harena is located 10 kilometres south of the Bisha processing plant and drilling continues to expand the deposit at depth. Some of the results reported in today's update are part of an in-fill program designed to upgrade the mineral resource and tighten the drill spacing at Harena to 100 metre centres, while others are from an on-going program focused on expanding the deposit. A drill-hole plan map, longitudinal section and representative cross section through Harena can be found in Figures 1, 2 and 3.
Hole HX-083, which is the deepest hole yet drilled at Harena, is relatively higher in copper than recent holes drilled above it and has an 11.0 metre interval grading 2.23% Cu, 4.92% Zn, 1.10 g/t Au, 79 g/t Ag including 2.6 metres grading 4.88% Cu, 7.79% Zn, 2.49 g/t Au, 201 g/t Ag. This suggests that the mineralizing system is strengthening and Borehole transient electromagnetic (BHEM) modeling indicates that the mineralization should continue down dip. Further drilling will determine if this is the case.
The mineralization at Harena displays a well-defined base metal and host rock alteration zonation pattern consisting of a sphalerite and pyrite, zinc-rich upper portion and a lower chalcopyrite and pyrite, copper-rich basal section. The copper-rich basal area is focussed along the northeastern edge of the deposit and is commonly underlain by a thick zone of highly altered felsic volcanics indicative of the high temperature focus point of the mineralizing system. The zinc-rich upper portion tends to be displaced to the southwest and has much less alteration associated with the volcanic rocks below it, indicating that it is somewhat distal from the active mineralizing centre.
BHEM surveys are routinely completed in all holes drilled at Harena. The results of these surveys are typically interpreted and modeled as plates of various conductivities in three dimensional space. These models, along with the geology and alteration patterns, have been instrumental in guiding the drilling at Harena. Chalcopyrite is the main conductive mineral and the borehole survey results preferentially focus our efforts toward copper enriched mineralization. Sphalerite is not conductive, but is associated with pyrite, which is less conductive than chalcopyrite giving weaker anomalies. A longitudinal section with the interpreted borehole plate models derived from hole HX-083 is shown in Figure 4.
The highly predictable nature of the geology at Harena, coupled with the borehole geophysical modeling, has allowed us to aggressively step out with our drill pattern. This will ultimately enable us to quickly define the full geometry of Harena.
VTEM Survey
A 6,386 line kilometre VTEM survey has been recently completed by helicopter over the Mogoraib River and Tabakin Exploration Licenses covering an area of 825 square kilometres. These licenses were acquired in mid-2016 and much of the area had never been covered by any geophysical survey. Preliminary results have highlighted many new anomalies that, by the nature of the survey, should be relatively shallow (i.e., less than 100 metre depth). Field evaluation is underway to determine the nature of the anomalies and over 11,000 metres of drilling has been allocated for the testing of targets.
Taylor from SA. Gotcha. Brain fart.
T
Taylor? And, yes that was a typo. Should have said "and" profits. Metanor just announced an investment by Kirkland Lake into Metanor. Not sure how many shares are out now. Trillion, quadrillion? Who knows.
T
T, As of now Taylor and I are talking over NSU, he is looking at it. He agrees Metanor is poorly run BTW.
Timok is good location.
On Gran is very profitable, was that a typo by you? Metanor BTW is a graveyard for capital, yep crazy anyone believes in them.
If all of Gran was converted still wonderful investment at a billion shares, its great value either way.
Thanks for article. Decided to follow him. He mentioned a couple low price gold stocks I want to look into.
NSU still confounds me, but I m starting to think it has more to do with location than underlying assets. From reading posts it seems like they never got the valuation they deserved. And, TPRFF looks to have millions of shares offered so I am waiting on that one. Method had a post explaining that is the black cloud over us there. With people converting and wanting to sell, there are a ton of shares waiting to find a home. That turd Metanor actually is getting attention. Amazing. San Colombia has way more production no profits yet it languishes while the fools at Metanor did a Pp and people are excited. Nuts.
T
T Great Gold Price article, compelling that we are about due a big breakout https://seekingalpha.com/article/4058385-gold-zooming?v=1491235980&comments=show
Yes Gran has the best ratios out there for any gold miner, and excellent operations now for 2 years.
NSU is acting like bottom is over. Copper down quite a bit today, yet NSU up.
BWMG is hard to buy, been trying to add a little as can do so and stay under 5% now that shares have increased. Much less available that 1-2 months ago.
Hope your right. BWMG has been acting very nicely. Impatient sellers hit strong bids and then bids move up and wait. No reason to get aggressive until numbers come out. TPRRF is another head scratcher like NSU. Never moves. Must have so many converted deb shares overhanging the market we won't move till they get eaten. Luckily the sellers aren't smart and asking for a more reasonable price.
T
yes, find a billion pounds of copper and not noticed. But NSU has been performing better lately, JMHO the bottom is in.
News for 'NSU' - (DJ Nevsun Resources Price Target Cut to $4.25/Share From $4.50 by BMO Capital)
News for 'NSU' - (DJ Nevsun Resources Raised to Outperform From Market Perform by BMO Capital)
Funny how they recommend buying but lower target by a quarter.
Unbelievable. This has to make you scratch your head like Claude a couple years back. How long can market inefficiency last?
T
Folks that is ANOTHER Billion Pounds of Copper Equiv on top of what they had in 2016!
A billion here a billion there, pretty soon it adds up to a lot of copper
Increased Bisha district Inferred resources by over 100% to 31 million
tonnes containing 667 million pounds copper, 3.3 billion pounds zinc, 780
thousand ounces gold, and 30 million ounces silver
* Measured and Indicated resources of 38 million tonnes containing 869 million
pounds copper, 3.5 billion pounds zinc, 710 thousand ounces gold and 41
million ounces silver
Ignore the main stuff, the copper and Zinc, 710 thousand ounces gold and 41
million ounces silver.
That is $890,000,000 gold by product and $717,000,000 silver by product. $1.6 Billion extra by products as frosting on the cake for a company with $700 million total market cap AND that is just their 2nd best mine!
Nevsun Delivers Substantial Resource Growth at Bisha from 2016 Drilling
PR Newswire
VANCOUVER, March 23, 2017
VANCOUVER, March 23, 2017 /PRNewswire/ - Nevsun Resources Ltd.
(http://www.nevsun.com/investors/) (TSX: NSU) (NYSE MKT: NSU) ("Nevsun" or the
"Company") is pleased to announce the updated mineral resource estimates
effective December 31, 2016, for the Bisha, Harena and Asheli deposits in
Eritrea. These updated resources form the first part of the annual year end
mineral resource and mineral reserve statement for 2016. The updated mineral
reserve estimate, currently in-progress, should be released in late May or
early June 2017.
Highlights
* Increased Harena Inferred resources by nearly 130% to 25 million tonnes
grading 0.93% copper, 4.76% zinc, 0.8 g/t gold and 31 g/t silver
* Harena remains open with further drilling ongoing in 2017
* Maiden Inferred resource for Asheli totalling 2.4 million tonnes grading
1.86% copper, 8.59% zinc, 0.4 g/t gold, and 30 g/t silver
* Additional targets immediately along strike of Asheli presently being
evaluated
* Increased Bisha district Inferred resources by over 100% to 31 million
tonnes containing 667 million pounds copper, 3.3 billion pounds zinc, 780
thousand ounces gold, and 30 million ounces silver
* Measured and Indicated resources of 38 million tonnes containing 869 million
pounds copper, 3.5 billion pounds zinc, 710 thousand ounces gold and 41
million ounces silver
Cliff Davis, Nevsun CEO, commented, "Our 2016 regional exploration program
built on 2015 successes adding over 1.1 billion copper equivalent pounds of
inferred resources. Harena, in particular, continues to increase in size and
has growing underground mining potential to extend the mine life at Bisha.
Our exploration drilling was also successful in defining a new massive
sulphide resource at Asheli, further highlighting the prospectivity of the
Bisha District to host additional resources."
Mr. Davis went on to say, "Nevsun, alongside our Eritrean partner, ENAMCO,
continues to invest in regional exploration at Bisha with the ongoing
objective to significantly increase the mine life of our operation."
Tables 1.1 to 1.7 containing the complete mineral resource estimates for each
deposit are appended at the end of this release. Copper equivalent is
calculated by dividing contained zinc by 2.5 and adding to contained copper.
For the Timok project in Serbia, resources are the same as previously
disclosed in the 2016 Preliminary Economic Assessment and will be updated when
the Upper Zone project pre-feasibility study is published in September 2017.
Harena
In 2016, 6,080 metres of new drilling was completed at Harena continuing to
extend the deposit to depth where it remains open. The inferred resource at
Harena grew to over 25 million tonnes from 11 million tonnes the year earlier,
for an additional 162 million pounds of copper, 1,668 million pounds of zinc,
280 thousand ounces of gold and 10.2 million ounces of silver. New
metallurgical testing found the expected recovery for zinc to be 85%, an
improvement on the previous recoveries of 72% after testing with a more
representative set of material. Drilling continues at Harena in an effort to
expand the deposit to depth.
Asheli
Asheli was discovered in June 2015 by Bisha as part of the Regional
Exploration Program. In 2016, 12,918 metres of drilling was completed in 28
holes resulting in the definition of a new inferred resource of 2.4 million
tonnes containing 98 million pounds of copper and 455 million pounds of
zinc. Importantly, Asheli's average grade of 1.9% copper and 8.6% zinc is
higher than either Harena or Bisha's primary sulphide grade. Drilling
continues in the Asheli area following up on encouraging mineralization
recently discovered 200 metres north of the main deposit.
Bisha
At Bisha, 11,770 metres of drilling in 21 holes was completed in 2016 testing
the deposit below the proposed ultimate pit. This work has determined the down
dip extent of the deposit. Considerable additional diamond drill core and
reverse circulation drilling for production and metallurgical test work was
also completed which has improved our understanding of the zonation,
composition and recovery of the various ore types. Measured and Indicated
resources including stockpiles at Bisha now stand at 23.4 million tonnes
containing 529 million pounds of copper, 2,836 million pounds of zinc, 560
thousand ounces of gold and 34 million ounces of silver, a small decrease
mostly due to mining depletion.
Qualified Persons Statement
All mineral resource estimates in this report have been prepared by the
Qualified Persons described below in accordance with Canadian National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")
and the Canadian Institute of Mining, Metallurgy and Petroleum's
Classification System (CIM Definition Standards for Mineral Resources and
Mineral Reserves 2010).
The information in this press release that relates to mineral resources was
prepared by Phil Jankowski, a Qualified Person as defined by NI 43-101. Mr.
Jankowski has reviewed and approved the technical contents of this press
release for his relevant sections.
Peter Manojlovic, P.Geo., and Frazer Bourchier, P.Eng., are Nevsun's
designated Qualified Persons and have reviewed and approved the contents of
this press release.
A Quality Assurance/Quality Control program was part of the sampling program
for the Bisha work. Certified reference material (standards), duplicates and
blank samples are systematically inserted into the flow of drill samples and
results analyzed on a batch by batch basis. This program includes a chain of
custody whereby diamond drill core samples are initially crushed and
sub-sampled at the Bisha Mine sample preparation facility and pulverized and
analyzed by Genalysis in Perth, Australia. Multi-element analysis is completed
using ICP-AES methods; gold is analyzed by fire assay with AAS finish. Reverse
circulation drill samples are processed at the Bisha Mine on-site laboratory,
which is a member of the SGS group. Multi-element analysis is completed using
ICP-OES methods with gold also analyzed by fire assay.
Cautionary Notes to Investors - Resource Estimates
In accordance with applicable Canadian securities regulatory requirements, all
mineral resource estimates of the Company disclosed or incorporated by
reference in this news release have been prepared in accordance with Canadian
National Instrument 43-101 - Standards of Disclosure for Mineral Projects,
classified in accordance with Canadian Institute of Mining Metallurgy and
Petroleum's "CIM Standards on Mineral Resources and Reserves Definitions and
Guidelines" (the "CIM Guidelines"). The definitions of mineral reserves and
mineral resources are set out in our disclosure of our mineral reserve and
mineral resource estimates in our Annual Information Form.
The Company uses the terms "mineral resources", "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources". While those
terms are recognized by Canadian securities regulatory authorities, they are
not recognized by the United States Securities and Exchange Commission (the
"SEC") and the SEC does not permit U.S. companies to disclose resources in
their filings with the SEC.
Pursuant to the CIM Guidelines, mineral resources have a higher degree of
uncertainty than mineral reserves as to their existence as well as their
economic and legal feasibility. Inferred mineral resources, when compared with
measured or indicated mineral resources, have the least certainty as to their
existence, and it cannot be assumed that all or any part of an inferred
mineral resource will be upgraded to an indicated or measured mineral resource
as a result of continued exploration. Pursuant to NI 43-101, inferred mineral
resources may not form the basis of any economic analysis, including any
feasibility study. Accordingly, readers are cautioned not to assume that all
or any part of a mineral resource exists, will ever be converted into a
mineral reserve, or is or will ever be economically or legally mineable or
recovered.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. (http://www.nevsun.com/investors/) is the 100% owner of
the high-grade copper-gold Timok Upper Zone in Serbia and 60% owner of the
high-grade copper-zinc Bisha Mine in Eritrea. Nevsun is well positioned with a
strong debt-free balance sheet to grow shareholder value through advancing the
Timok project to production.
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Nevsun Ships Zinc 1st Time, 9-7-2016! This will greatly boost revenue for NSU
Shipped the first zinc concentrate product from the Bisha mine in Eritrea. The ten thousand tonne lot was loaded at the Port of Massawa and sailed on September 7, 2016. The concentrate was sold on the spot market, attracting multiple offers and highly competitive treatment charges.
The Bisha mine completed the zinc flotation plant expansion earlier in 2016 on-time and under-budget. The plant allows Bisha to produce separate copper and zinc concentrates simultaneously from processing primary ore from the Bisha open pit mine.
Cliff Davis , Nevsun CEO commented, "We are pleased to have a high quality zinc product coming to market in an environment of rising zinc prices. Bisha is the only significant new zinc concentrate coming to market in 2016 and we are being aggressively courted for offtake by various customers. We would like to congratulate our partner, the State of Eritrea, for adding another export product to the economy and thank them for their support."
Nevsun is scheduled to load additional shipments in the coming weeks and is ramping up to commercial production which is forecast for Q4 2016.
About Nevsun Resources Ltd.(NSU)
Nevsun Resources Ltd. (NSU) is the 60% owner of the high grade Bisha Mine in Eritrea. Bisha has nine years of reserve life, generating revenue from both copper and zinc concentrates containing gold and silver by-products. Nevsun has a strong balance sheet, no debt and pays a peer leading quarterly dividend. Nevsun is well positioned to grow shareholder value through exploration at Bisha and the newly acquired Serbian assets that include the high-grade copper-gold Timok Project.
http://www.nevsun.com/investors/presentation/2016-07-29-NSU-Corp-presentation-FINAL.pdf
http://www.nevsun.com/
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