Base Metals

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.

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