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Stock Market & Financial Investment News

News Breaks
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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December 17, 2014
07:54 EDTNSUNevsun Resources extends Harena with additional high grade drill results
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December 15, 2014
13:50 EDTNSUNevsun Resources increases dividend 14% to 4c
Nevsun Resources advises that its board of directors has declared a quarterly cash dividend of 4c per common share, an increase of 14% from prior quarters. The dividend is payable on January 15, 2015, to shareholders of record as of the close of business on December 31, 2014.
07:52 EDTNSUNevsun announces full power plant restoration at Bisha operations
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December 8, 2014
07:58 EDTNSUNevsun Resources provides update on power supply issues at Bisha mine
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December 4, 2014
10:08 EDTNSUOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Anglo American (AAUKY) downgraded to Underperform from Buy at BofA/Merrill... Archer Daniels (ADM) downgraded to Hold from Buy at Miller Tabak... AuRico Gold (AUQ) downgraded to Underweight from Equal Weight at Morgan Stanley... BHP Billiton (BHP) downgraded to Neutral from Buy at BofA/Merrill... BIND Therapeutics (BIND) downgraded at Credit Suisse... BRF S.A. (BRFS) downgraded to Neutral from Buy at Goldman... CIRCOR (CIR) downgraded to Hold from Buy at BB&T... DISH (DISH) downgraded to Underweight from Equal Weight at Barclays... Enerplus (ERF) downgraded to Sector Performer from Outperformer at CIBC... Gildan Activewear (GIL) downgraded to Hold from Buy at GMP Securities... Kindred Biosciences (KIN) downgraded to Hold from Buy at Craig-Hallum... Nevsun Resources (NSU) downgraded to Neutral from Buy at UBS... Public Storage (PSA) downgraded at KeyBanc... Rio Tinto (RIO) downgraded to Underperform from Buy at BofA/Merrill... SeaChange (SEAC) downgraded to Hold from Buy at Noble Financial... Thor Industries (THO) downgraded at BMO Capital... Tupperware Brands (TUP) downgraded to Underperform from Market Perform at BMO Capital... UTi Worldwide (UTIW) downgraded at Stifel... Vale (VALE) downgraded to Neutral from Buy at BofA/Merrill... Vermilion Energy (VET) downgraded to Sector Performer from Outperformer at CIBC... Wal-Mart (WMT) downgraded to Neutral from Buy at UBS.
06:22 EDTNSUNevsun Resources downgraded to Neutral from Buy at UBS
UBS downgraded Nevsun to Neutral based on valuation.

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