Tag Archives: Copper Production in Eritrea

Nevsun Resources and its Heaps of Cash

Nevsun Reports Strong Third Quarter 2012 Financial Results
Nevsun’s $400m in cash and zero debt balance sheet is the envy of many companies in the industry

By The Northern Miner,

Last year marked the second year of production at Nevsun Resources (NSU-T, NSU-N) 60%-owned Bisha mine in Eritrea and already its balance sheet is the envy of many companies in the industry.

Nevsun ended 2012 with US$396 million in cash and no debt after posting record revenues of  US$566 million and cash costs of US$312 per oz. gold sold, inclusive of royalties. Cash flow from operations at Bisha reached US$194 million and the company handed out US$20 million in dividendsContinue reading Nevsun Resources and its Heaps of Cash

2132Kg of Gold Worth $131m Produced in the First-Quarter: Nevsun

This year, Nevsun expects a total production of 200,000 oz of gold worth $320m (@$1,600/oz)

By Stephan Bogner,

Yesterday the 5-cent “eligible dividend” paying Nevsun Resources Ltd. (TSX/AMEX: NSU) published production results of the first quarter 2012 from its Bisha Mine in Eritrea, East Africa.

In the first 3 months of 2012, a total of 82,000 ounces were mined and sold representing $131 million (at a gold price of $1,600). Continue reading 2132Kg of Gold Worth $131m Produced in the First-Quarter: Nevsun