Tag Archives: Mogoraib Deposit

Nevsun Reports $170m in Revenue after Selling 2,700Kg of Gold in the 3Q 2012

In the last three months that ended September 30, 2012, Nevsun pays the Eritrean government $30,037,000 as income tax and $8,154,000 for Royalty. The government pays back $5,731,000 as partial payment for its 30% share in the Bisha Mine 

Nevsun Reports Strong Third Quarter 2012 Financial Results
Nevsun Reports Strong Third Quarter 2012 Financial Results

By Nevsun,

Nevsun Resources Ltd.(TSX:NSU / NYSE MKT:NSU) today reported financial and operating results for the third quarter ended September 30, 2012.

This release should be read in conjunction with Nevsun Resources Ltd.’s (“Nevsun” or the “Company”) 2012 third quarter Management Discussion and Analysis (“MD&A”), which can be found at www.nevsun.com/investors/financials.  Continue reading Nevsun Reports $170m in Revenue after Selling 2,700Kg of Gold in the 3Q 2012

Chalice Sold Zara Gold Project to SFECO and ENAMCO for US$114M

Net cash balance of $82 million after tax with a focus on acquiring new projects

Chalice Gold turned Red after selling its lucrative Zara Gold Deposit in Eritrea to China

By Chalice Gold Mines,

Chalice Gold Mines Limited (ASX: CHN/TSX: CXN) is pleased to announce that it has today completed the sale of the Zara Gold Project in Eritrea to China SFECO Group for US$78 million plus a deferred payment of US$2 million upon commencement of commercial production at the Koka Gold Mine.

In addition, the Eritrean National Mining Corporation (“ENAMCO”) has settled the remaining balance of US$29 million for its acquisition of a 30 per cent interest in the Zara Project Continue reading Chalice Sold Zara Gold Project to SFECO and ENAMCO for US$114M

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

NGEx Sells Hambok Project in Eritrea to Bisha Mining Share Company

Money from sell of its Mogoraib Exploration license will enable NGEx Resources to develop its remaining deposit in Kerkebet

By Nevsun,

Nevsun Resources Ltd. (TSX: NSU / NYSE MKT: NSU) (“Nevsun”) is pleased to announce that the Bisha Mining Share Company (“Bisha”), a 60% owned subsidiary of Nevsun, has entered into an agreement (the “Agreement”) to acquire the Mogoraib exploration license (the “Property”) in Eritrea.  Continue reading NGEx Sells Hambok Project in Eritrea to Bisha Mining Share Company