nevsun.com,
Nevsun Resources Ltd. (TSX:NSU / NYSE Amex:NSU) is pleased to announce strong production results of 93,000 ounces of gold for the quarter ending June 30, 2011.
- 93,000 ounces produced in second quarter (Q2)
- 168,000 ounces produced year to date
- Cash balance $US 186 million
Year-to-date the Bisha mine in Eritrea has produced 168,000 ounces of gold, including 41,000 ounces during the commissioning phase early this year. Cash increased to US$186 million at June 30, 2011.
|
Q1 2011 |
Q2 2011 |
YTD 2011 |
|
| Tonnes milled |
461,000 |
444,000 |
905,000 |
| Recovery, % of gold |
88% |
89% |
89% |
| Gold ounces produced |
75,000 |
93,000 |
168,000 |
| Gold price realized per ounce sold |
US$1,405 |
US$1,510 |
US$1,485 |
The Bisha mine continues to operate in excess of plan for mill gold recovery and the rate of gold production during Q2 was approximately 1,000 ounces per day. The rainy season in Eritrea at the Bisha site, which began in June and should end in September, has had no material impact on operations to date. The Company started civil works in June in preparation for construction of the second phase copper plant.
Nevsun plans to release its full Q2 results on August 10, 2011 with a conference call following on August 11th.
