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.