Tag Archives: exploration

TD Securities Raises Nevsun Resources to Buy

Nevsun 's share poised to go higher with news of such endorsement
Nevsun ‘s share poised to go higher with news of such endorsement

By Street Insider,

TD Securities upgraded Nevsun Resources (NYSE: NSU) from Hold to Buy with a price target of C$4.50 (from C$4.00).

Analyst Craig Hutchison has increased confidence the company will hit production guidance.

“Earlier this week, we had an opportunity to visit Nevsun’s Bisha project (60% ownership) in Eritrea,” said Hutchison.

“We came away from the tour with confidence that the company will meet its 2013 production guidance of 30–50mmlb and achieve commercial production of the copper plant by year-end.  Continue reading TD Securities Raises Nevsun Resources to Buy

Nevsun Will Declare Commercial Production Within Six Weeks

Nevsun seems to be ready for what should be an exciting 2014

By Seeking Alpha,

In this article, I’ll provide an update on Nevsun Resources (NSU) which is currently transforming itself from a low-cost gold producer into a mid-tier copper producer as its Bisha mine in Eritrea reaches the next development phase. I will give my view on the company’s Q3 financial results and its balance sheet and talk about the outlook for the company. This will result in my investment thesis at the end of this article. Continue reading Nevsun Will Declare Commercial Production Within Six Weeks

Sunridge Gold Boosts Size of Financing to $4 mln

A sStaged start-up from Debarwa supergene is what Sunridge planed to cut capex and get to the ore early

By Proactive Investors,

Sunridge Gold Corp. (CVE:SGC) (OTCQX:SGCNF) has boosted the size of its brokered private placement financing to $4 million from $3 million previously, with the proceeds to go towards the further development of its Asmara project in Eritrea.

The company, which is working to move its project to the production stage, will issue up to 21.05 million units at a price of 19 cents apiece, with Sunridge also granting the agent, Tempest Capital, an option to sell up to an additional 15 per cent of the number of units, or a maximum of 3.16 million units. Continue reading Sunridge Gold Boosts Size of Financing to $4 mln

Eritrea Hosts 4th Regional Mining Conference

Eritrea’s mining potential explained. By 2017, four new world class mining projects will be launched

By Shabait,

The 4th Asmara Mining Conference opened on October 1st here in the capital under the theme “Meeting the Challenges for Sustainable Mining” in the presence of government officials, country and mining company representatives, as well as service providers. Continue reading Eritrea Hosts 4th Regional Mining Conference

Does Eritrea have Petroleum Oil?

Eritrea is believed to own massive oil and gas reserves but the government doesn’t seem to be too interested in exploiting them—for now

By TesfaNews,

This week, a report released by the Oilprice.com Energy Intelligence unit claimed that Eritrea, a country located in one of the few unexplored places left in the world, has virtually sitted on a massive oil and gas reserve than any other country in the region.

The country’s potential in natural resources – especially gold and base metals – have been confirmed by a multitude of exploration and mining companies that are currently operating in the country.

But how much do we known about the existence of petroleum and natural gas, let alone the potential, in the country? Does Eritrea really have oil?  Continue reading Does Eritrea have Petroleum Oil?

Chalice Gold Mines receives two new exploration licences in Eritrea

More mining fields for Chalice

proactiveinvestors.com

Chalice Gold Mines (TSX:CXN)(ASX:CHN) announced Thursday that it has been granted two new major exploration licenses in Eritrea, covering 830 sq kilometres in the northern part of the country.

The new licences, Mogoraib North and Hurum, add to the company’s existing exploration tenure in the region as part of the Zara project. Chalice has set aside $1 million as an initial budget to explore the new prospective areas for the first 12 months.   Continue reading Chalice Gold Mines receives two new exploration licences in Eritrea