Nevsun Announces Q3 Financial Results

Base Metals Investing

Q3 was also the quarter when Nevsun announced a friendly all-cash agreement for Nevsun to be acquired by Zijin Mining for US$1.41 billion.

Nevsun Resources (TSX:NSU,NYSE AMERICAN:NSU) has released its financial results for the three and nine months ended September 30, 2018, including a Timok project update and a Bisha mine update.

As highlighted int he press release:

Strong quarterly production of 69.6 million pounds of zinc and 10.2 million pounds of copper.
Revised full year 2018 zinc guidance upwards to 245 to 265 million pounds from 210 to 240 million pounds.
Revised full year 2018 by-product copper guidance upwards to 33 to 38 million pounds from 25 to 30 million pounds.
C1 cash costs in middle of guidance at US$0.71 per payable pound of zinc sold on a by-product basis.
Revenue adversely impacted by lower zinc and copper prices.
Advanced both the Timok Upper Zone Project and the Bisha Mine open pit extension.
Announced friendly all-cash agreement for Nevsun to be acquired by Zijin Mining for US$1.41 billion.

Click here to read the full Nevsun Resources (TSX:NSU,NYSE AMERICAN:NSU) press release.