Tag Archives: Nevsu Resources

Nevsun Takeover Battle Heating Up

Nevsun takeover battle is heating up
Spurred on by the developments in Eritrea and at its flagship Timok Project in Serbia, Nevsun’s takeover battle is heating up that will likely culminate in a sale by year-end. (Photo: Martin Zimmermann)

BY MATT GEIGER | SEEKING ALPHA

Nevsun (NYSEMKT:NSU) has been a standout performer in what has been a disappointing year for the mining industry. This was long overdue for a company that has lagged its base metal peers for much of the past three years. Continue reading Nevsun Takeover Battle Heating Up

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