Tag Archives: Gold Mining

Nevsun Post $54m in Revenue for Second Quarter

Nevsun paid more than $56 million in income tax
Nevsun paid more than $56 million in income tax

By Nevsun,

Nevsun Resources Ltd. (TSX:NSU / NYSE Amex:NSU) is pleased to report its financial and operating results for the second quarter of 2013. Unless otherwise noted, with the exception of earnings per share and cash cost per ounce figures, all results are in thousands of US dollars.

This release should be read in conjunction with Nevsun Resources Ltd.’s (Nevsun or the Company) condensed consolidated interim financial statements for the six months ended June 30, 2013, and associated Management Discussion and Analysis (MD&A), which are available on the Company’s website , on SEDAR and on EDGAR . Continue reading Nevsun Post $54m in Revenue for Second Quarter

Nevsun Resources and its Heaps of Cash

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

Nevsun Expands on 2013 Exploration Plans at Bisha

What started as Bisha mine, Nevsun now expands and owns the Harena and Mogoraib copper-gold Deposits which soon to begin production.

By Nevsun,

Nevsun Resources Ltd. (TSX:NSU / NYSE MKT:NSU) today provides details on 2013 exploration plans on Eritrean properties.

Cliff Davis, Nevsun CEO commented, “A fresh review of the exploration potential for our mining and exploration licenses has been completed recently. This has highlighted a large number of high quality untested targets both in the immediate Bisha Mine area and on our surrounding properties. We have formulated a strategy to assess this excellent potential and will begin testing these targets immediately. These are exciting prospects.”  Continue reading Nevsun Expands on 2013 Exploration Plans at Bisha

Eritrea’s Pragmatic Approach made Mining Industry a Reality: Haywood Analyst

“The Eritrean government recognized early on that it had to work with foreign investment to make a mining industry a reality”

Strong fundamentals underpin the copper price going into 2013.”
(Photo: Primary Copper Float Cell Installations at Bisha Mine – Eritrea)

By The Gold Report,

Here’s an excerpt of an interview with Haywood Analyst Stefan Ioannou published in the Gold Report (TGR) about the development of the mining industry in Eritrea.  Continue reading Eritrea’s Pragmatic Approach made Mining Industry a Reality: Haywood Analyst

Sunridge Gold moves as “Rapidly” as it can towards Production

By Stock Tube,

Michael Hopley, President and CEO of Sunridge Gold (CVE:SGC) explains that the company, with money in the bank for the feasibility study, has a lot of copper and precious metals on the project and now hopes to be in production earlier than initially indicated. Michael also says that investors should look to exploration results next year.

Continue reading Sunridge Gold moves as “Rapidly” as it can towards Production

Nevsun Quaretrly Profit Rose 12%; Harena Mining to Begin August

Vancouver-based Nevsun expects to produce 280,000 to 300,000 gold ounces for the year as it mines higher grades of ore at its flagship Bisha mine in Eritrea.

Tricky ore that led Nevsun to diminish golden expectations in upper oxides now lifts them back up

By Reuters,

Canadian miner Nevsun Resources Ltd’s quarterly profit rose 12 percent as it realized higher prices for gold sold, and the company raised its gold production forecast for the year.

Nevsun’s second-quarter net income attributable to shareholders rose to $39.6 million, or 19 cents per share, from $35.3 million, or 18 cents per share, a year earlier.

Revenue increased nearly 9 percent to $147.7 million. Continue reading Nevsun Quaretrly Profit Rose 12%; Harena Mining to Begin August