Nevsun Generates $149.4m in Q1 2012; Production Forecast Raises by 25%

Tricky ore that led Nevsun to diminish golden expectations in upper oxides now lifts them back up

By Carrie White,

Vancouver-based Nevsun Resources (TSE:NSU)(AMEX:NSU) said Wednesday it posted strong first quarter results, and raised its gold production forecast for 2012 to 260,000 ounces.

Shares rose nearly five percent on the back of the news, trading at $3.39 early Wednesday morning.

The gold and base metal explorer/developer is currently focused on advancing its high grade gold, copper and zinc Bisha Project in Eritrea. Continue reading

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Eritrea’s Great Gold Potential – and Copper and Silver and Zinc!

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

By  Lawrence Williams,

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

2132Kg of Gold Worth $131m Produced in the First-Quarter: Nevsun

This year, Nevsun expects a total production of 200,000 oz of gold worth $320m (@$1,600/oz)

By Stephan Bogner,

Yesterday the 5-cent “eligible dividend” paying Nevsun Resources Ltd. (TSX/AMEX: NSU) published production results of the first quarter 2012 from its Bisha Mine in Eritrea, East Africa.

In the first 3 months of 2012, a total of 82,000 ounces were mined and sold representing $131 million (at a gold price of $1,600). Continue reading

Nevsun Announced Financial and Operating Results for 2011

Nevsun generates a net, after-tax income of $250 million in 2011 alone

By Nevsun,

Nevsun Resources Ltd.  (TSX:NSU / NYSE Amex:NSU) is pleased to report its financial and operating results for 2011.

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 379,000 ounces produced, gold production averaged approximately 1,000 ounces per day with an average cash cost per ounce sold of $295Continue reading

Nevsun Announces Share Repurchase Program

Nevsun will buy back up to 4 million shares worth C$14 million

By Nevsun Resources,

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 4,009,408 common shares of the Company, representing approximately 2% of the 200,470,415 common shares issued Continue reading

Nevsun Resources to Exhibit at PDAC 2012

Nevsun to present at PDAC2012 - An International Convention, Trade Show & Investors Exchange - Mining Investment Show

By CapitalEritrea,

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 Announces New Higher Grade Resource for the Adi Nefas Deposit

The main advantage for Adi Nefas deposit is its close proximity (6 km) to the 70 million tonne Emba Derho VMS deposit

By Proactive Investor,

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 silverContinue reading