Company News: Nevsun Resources
Updated: 10 May 2012
Nevsun operates the high-grade, low cost Bisha Mine in Eritrea. Bisha generated strong free cash flow from oxide gold production of over 1,000 ounce /day in 2011. The company has over $300 million in cash with no debt or hedges. Bisha receives continuous support from the Eritrean government, a 40% owner of the mine. Over the current 12+ year life, Bisha will mine high-grade gold oxides, followed by high-grade copper sulphides and finally high-grade polymetallic zinc/copper from a conventional open pit. Nevsun expects to report a growth in reserves from significant infill drilling of inferred and satellite mineralization in mid-2012.
Business Category Exploration; Mining
Regions of Operation North Africa
Exchange Ticker NSU
Financial Information
Stock Feed
Exchanges listed on TSX, NYSE Amex
Share Holders
Market Cap 1 Billion
Shares Issued
Suite 800
- 1075 West Georgia Street
- Vancouver
- BC V6E 3C9
- Canada
Most Recent Company News
- Investor Seminars: Africa Day - 11 May 2012 12:32pm
Why Africa is a favourable investment destination Read more... - Nevsun faces Bisha class action - 05 Apr 2012 1:38pm
Nevsun Resources Ltd is the latest gold producer to face litigation from shareholders after a US class-action lawsuit was filed in relation to the company’s Bisha mine in Eritrea Read more... - Nevsun COO - 18 Nov 2011 1:16pm
Nevsun Resources Ltd has appointed Frazer Bourchier to its senior management team as chief operating officer Read more... - Northeast Africa: Revolution - 02 Sep 2011 10:37am
Since the start of the Arab uprising eight months ago, the political and economic architecture of northeast Africa is slowly changing Read more... - Nevsun agrees Bisha price with Eritrean government - 26 Aug 2011 11:30am
Eritrian National Mining Corp (ENAMCO) will pay US$253.5 million for a 30% interest in the Bisha polymetallic mine owned by Nevsun Resources Ltd. Read more... - Nevsun and government agree on Bisha price - 23 Aug 2011 6:50pm
The Eritrian National Mining Corporation (Enamco) will pay US$253.5 million for a 30% interest in the Bisha polymetallic mine owned by Nevsun Resources Ltd. Read more... - Higher metals prices boost Bisha reserves - 01 Apr 2011 11:51am
Higher metals price estimates have boosted reserves by 40% at the Bisha gold and base-metals mine in Eritrea. Read more... - Harena assays - 04 Mar 2011 12:16pm
Nevsun Resources Ltd, drilling the Harena satellite deposit near its Bisha polymetallic property in Eritrea, has confirmed the presence of a high-grade oxide gold cap Read more... - First gold at Bisha - 07 Jan 2011 11:34am
The Bisha precious and base metals project in Eritrea poured its first gold during late December, eight years after discovery. Read more... - Bisha pours first gold - 05 Jan 2011 11:43am
The Bisha precious and base metals project in Eritrea has started production. Read more...
25 Nov 2011
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