NEVSUN Resources recently announced a new Volcanogenic Massive Sulphide (VMS) discovery 20 kilometres to the southwest of its operating Bisha Mine in Eritrea.
We already knew the Bisha project was a VMS project and all VMS-projects occur in one large deposit (in this case the Bisha mine) but also contain several smaller satellite deposits as a cluster around the main deposit. Since 2012, Nevsun Resources has been focusing on effectively finding those satellite deposits. Continue reading Nevsun and its Zinc Processing Plant in Eritrea (Update-III)→
NEVSUN Resources Ltd. (TSX: NSU) (NYSE MKT: NSU) is pleased to provide an update on the Bisha zinc expansion project which will average over 100,000 tonnes (225 million pounds) of zinc and 24,000 tonnes (55 million pounds) of copper per year for 10 years after start up in mid-2016.
NEVSUN Resources Ltd. (TSX:NSU) (NYSE MKT: NSU) (Nevsun or the Company) today reports that the Bisha processing plant successfully restarted on March 26 after completion of both the ball mill and the tailings thickener repairs.
NEVSUN Resource (NYSEMKT:NSU) is operator of the Bisha mine. It is one of the highest grade open pit copper mines in the world. The Bisha mine is located in Eritrea.
Due to its high grade, it has one of the lowest operating cash cost in the entire industry. In fact, the mine produces 196 million pounds of copper at a cash cost of only $1.05. Based on the current price of $2.8, it is possible to calculate a profit margin of almost 63%. Clearly, Nevsun will continue to stay largely profitable even if the copper price continue its downtrend.
With this incredible margin, the company has a trailing twelve months earnings per share of $0.47. It is important to mention that the firm pays a dividend of $0.16 per year. It represents an annual yield of 4.4%. Continue reading Why I Bought Nevsun Resources→