Copper and zinc haven’t really been popular in the market lately, but I was still curious about how Nevsun Resources (NYSEMKT:NSU) was doing, as this copper producer in Eritrea is converting itself to be a zinc producer from next year on.
Nevsun was the Partnership’s featured investment in January 2015. The company remains one of the lowest risk base metal plays available, despite the painful share performance over the trailing 6 months. I met with management in mid-November and remain very positive on this story. We have lowered our average cost per share from $3.55 USD to $3.07 USD since I last wrote about the name.
Over the past 6 months, the company has reported the following milestones of note: (1) positive cash flow in Q3 despite the plunging copper price, (2) continued distribution of NSU’s $0.04 quarterly dividend, and (3) the best results at Harena to date. Continue reading Nevsun Resources (January 2016 Update)→
Nevsun Resources Ltd. (TSX:NSU / NYSE MKT:NSU) is pleased to advise that the Bisha Mine zinc expansion project (the “Project”) is on schedule and well under budget. The Project is on-track for ore commissioning in mid-Q2 2016 (May – June) and commercial production later in 2016. Continue reading Nevsun: Bisha Zinc Project 90% Complete→