Tag Archives: Production

Nevsun Reports Power Supply Issue at Bisha Mine

A recent power supply issues at the Bisha process plant temporarily halt production
A recent power supply issues at the Bisha processing plant temporarily halt production. However, mining operations continue since the company continues to truck and export stockpiled ore. Nevsun has already achieved annual production guidance and the plant interruption does not negatively impact its 2014 financial results.

By Nevsun Resources,

OVER the past week the Bisha process plant has had power supply issues with its third party power plant, causing a temporary halt in concentrate production.

Mining operations continue at full capacity and Bisha continues to truck and export stockpiled concentrates. Continue reading Nevsun Reports Power Supply Issue at Bisha Mine

Sunridge Gold Poised to Become Eritrea’s Next Miner

Much of the political risk of investing in Eritrea has been removed by the combination of Nevsun Resources’ success and the involvement of the Government of Eritrea as a significant partner in any given project. Beacon Securities Ltd. consider Sunridge Gold as an attractive investment and a re-rating of the company would be held as soon as the major catalysts like permits and financing are secured

By Michael Curran (Beacon Securities Ltd.),

WE are initiating coverage of Sunridge Gold Corp. (SGC-V) with a BUY rating and a 12-month target price of $0.55/sh.

Sunridge’s Asmara Project looks to be a robust project capable of generating significant cash flows over a 17-year mine life. Annual production is forecast to average 65 million pounds (29Kt) of copper, 184 million pounds (83Kt) of zinc, 42Koz of gold and 1.0MMoz of silver per annum during the first 8 years of primary sulphide ore mining (Phase 2-3).  Continue reading Sunridge Gold Poised to Become Eritrea’s Next Miner

Sunridge Gold On Track to Start Production In 2015 On the Asmara Project, Eritrea

Lenders won’t repeat the Bisha mistake this time around with the Asmara Project. After the successful Shareholder Agreement with ENAMCO and the start of mining permit process, lenders are scrambling to finance the lucrative project that is on track to start production in 2015.

By Sunridge Gold,

SUNRIDGE GOLD Corp. (the “Company” or “Sunridge”) (SGC: TSX.V/SGCNF: OTCQX) is pleased to report that the recent signing of the shareholder agreement with the Eritrean National Mining Corporation (“ENAMCO”) has accelerated activities on the Asmara copper-zinc-gold project (the “Asmara Project“) so that subject to permitting and funding the Asmara Project is on track to commence production in 2015.

The Asmara Project is to be held and operated by the Asmara Mining Share Company (“AMSCo“) and will be owned 60% by Sunridge 40% by ENAMCO.  Continue reading Sunridge Gold On Track to Start Production In 2015 On the Asmara Project, Eritrea

Nevsun Achieves Top End of 2013 Production Guidance

Copper Concentrate Export Operation in Massawa Port. Rotainer loading device in the foreground and grey Bisha concentrate containers in background.

By Nevsun,

Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (Nevsun or the Company) is pleased to announce strong production results of 48 million pounds of copper in the second half of 2013 with 36 million pounds produced in the fourth quarter ended December 31. Continue reading Nevsun Achieves Top End of 2013 Production Guidance