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January 23, 2013
08:11 EDTNSUNevsun Resources sees producing 80K-90K oz gold at Bisha in 1H13
Nevsun Resources announced its 2013 outlook for planned gold and copper production from the Bisha mine in Eritrea. The Bisha mine is operated by Nevsun's 60% owned subsidiary Bisha Share Mining Company, or BMSC. Nevsun expects that BMSC will complete copper expansion project construction on time and on budget. As of now, approximately 80% of the forecasted project expenditures of $125M had been spent, ordered or arranged. On cessation of gold production in mid-2013, BMSC will commence copper concentrate production and optimization of the new facilities. During ramp up, BMSC plans to produce 60M-80M pounds of copper in concentrate in H2 2013 through processing nearly 900K tonnes of ore from Bisha Main pit averaging 5.2% copper feed grade. Based on the mine plan, the copper will be contained in 100K-120K tonnes of concentrate exceeding 30% copper grades. 2014 will be a full year of copper production and is expected to be in the order of 200M pounds of copper. As previously disclosed, BMSC will conclude gold production during the first half of 2013 as reserves will be depleted. Prior to conclusion BMSC plans to produce 80K-90K ounces of gold during the first half of 2013 through processing 800K tonnes of remaining oxide ores from Harena and Bisha Main pits at a combined 3.7 grams per tonne. Nevsun expects cash costs per gold ounce will increase significantly compared with the first half of 2012 as a result of lower feed grades, longer haul distances, more mined material and more drill and blast consumables. After the conclusion of gold production BMSC will de-commission and retain the carbon-in-leach plant so it can be put back into operation should Nevsun's regional exploration efforts yield more oxide deposits. Nevsun has expanded its exploration drilling program at the Northwest Zone as mineralization continues along strike to the northeast. The objective is to complete drilling and release an initial NI 43-101 resource in the second half of 2013. At the recently acquired Hambok deposit on the Mogoraib exploration license, Nevsun plans to commence drilling to confirm the historic resource, while updating the geological and resource models. Nevsun will also drill test already identified high priority targets on the Mogoraib exploration license and new targets on the Bisha mining license.
News For NSU From The Last 14 Days
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November 21, 2014
07:52 EDTNSUNevsun Resources denies allegations made in B.C. lawsuit
Nevsun Resources advises that a lawsuit has been filed against it in the B.C. Supreme Court by three individuals who claim to have once worked with a local sub-contractor at the Bisha Mine in Eritrea. The lawsuit makes human rights allegations against the company and its local sub-contractor. The company denies the allegations and will vigorously defend itself against this claim. Cliff Davis, Nevsun's CEO, said, "We are confident that the allegations are unfounded. Based on various company-led and third party audits, the Bisha Mine has adhered at all times to international standards of governance, workplace conditions, and health and safety. We are committed to ensuring that the Bisha Mine is managed in a safe and responsible manner that respects the interests of the local communities, workers, national governance, stakeholders, and the natural environment."
November 20, 2014
16:24 EDTNSUOn The Fly: Closing Wrap
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11:58 EDTNSUNevsun Resources has received expressions of interest on potential transaction
Nevsun Resources said it in a statement that the company "receives in the normal course of business enquiries regarding corporate mergers and acquisitions. Nevsun has recently received from various parties expressions of interest on a potential corporate transaction. We take these enquiries seriously however any discussions are at a preliminary stage and there is no certainty that any transaction will be completed. Management is not aware of a bid for the Company. Nevsun does not intend to comment further on potential corporate transactions unless and until it deems further disclosure is appropriate or required by applicable law."
10:23 EDTNSUNevsun Resources trading halted, pending news
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09:58 EDTNSUQKR near $1B takeover bid for Nevsun Resources, Bloomberg says
Negotiations are ongoing between mining fund QKR and Nevsun Resources and the fund is close to making a bid of about $1B for the Canadian miner, according to Bloomberg, citing people with knowledge of the matter. Shares of Nevsun trading in New York are up nearly 15% to $4.30 following the report. Reference Link
09:35 EDTNSUNevsun Resources may get nearly $1B bid from Qatar's QKR, Bloomberg says
November 13, 2014
07:56 EDTNSUNevsun Resources reports additional positive drilling results for Harena
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