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 dividends. Continue reading Nevsun Resources and its Heaps of Cash→