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    copper investing

    Nevsun Announces Q3 Financial Results

    Scott Tibballs
    Oct. 26, 2018 08:30AM PST
    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.

    zijin miningcopper investingnevsun resources
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