The tale of Eritrea’s first major miner, Nevsun, which has had mixed fortunes this year and gold explorer, Andiamo Exploration, whose chairman has been a long time believer in the country’s mineral potential.
Eritrea’s substantial mineral deposits are largely unexplored
Two interesting presentations today at a Mining Journal Investor Seminar in London – one from an already operating, dividend-paying, miner in Eritrea with a remarkably good earnings profile and the other from a very early stage explorer looking for gold and VMS (Volcanic Massive Sulphide) copper-gold orebodies along the same trend.
The first of these will be obvious to anyone who follows activity in this remarkably prospective part of north-eastern Africa as it operates the only significant mine in the country Continue reading →
In that year, the Company recorded $548 million in revenues for the year on sales of 369,900 ounces of gold for an average realized price $1,620 per ounce. With 379,000ounces produced, gold production averaged approximately 1,000 ounces per day with an average cash cost per ounce sold of $295. Continue reading →
VANCOUVER, BC –Nevsun Resources Ltd.(TSX:NSU)(NYSE Amex:NSU)(the “Company“) announces the initiation of a common share repurchase program using the normal course issuer bid facility under Toronto Stock Exchange (“TSX”) rules.
Nevsun has received approval from the TSX to purchase up to 4,009,408common shares of the Company, representing approximately 2% of the 200,470,415 common shares issued Continue reading →
Nevsun Resources Ltd. (TSX /AMEX :NSU) will be exhibiting at this year’s Prospectors & Developers Association of Canada’s (PDAC). The annual convention is to be held on March 4 and 5, 2012 at the Metro Toronto Convention Centre.
Nevsun Resources was hand selected by PDAC for its production success at Bisha and offered the opportunity to present at the Corporate Presentation Forum for Investors. Scott Trebilcock will be presenting on behalf of Nevsun on Monday, March 5 at 2:00pm in Room 803AB. Continue reading →
Sunridge Gold (CVE:SGC) Wednesday announced a new independent resource estimate for the Adi Nefas zinc-gold-copper volcanogenic-massive-sulphide (VMS) deposit at its 100 percent-owned Asmara project in Eritrea.
The company said that indicated resources in the primary zone are 1.8 million tonnes averaging 10.05% zinc, 3.31 grams per tonne (g/t) gold, 1.78% copper and 115 g/t silver.
Total contained metals in the indicated categories at Adi Nefas were estimated as 408.0 million pounds of zinc, 72.2 million pounds of copper, 196,000 ounces of gold and 6.81 million ounces of silver. Continue reading →