Nevsun Reports Strong Results at Bisha Project in Eritrea

Base Metals Investing

Nevsun Resources has reported its financial results for the three months ended March 31, 2018, highlighting strong operation performance at the Bisha copper-zinc mine in Eritrea.

Nevsun Resources (TSX:NSU) has reported its financial results for the three months ended March 31, 2018, highlighting strong operation performance at the Bisha copper-zinc mine in Eritrea.

As highlighted in the press release:

Q1 2018 Highlights

  • Produced 71.6 million pounds of zinc and 8.9 million pounds of copper at Bisha (Eritrea)

  • Sold 53.4 million pounds of payable zinc in concentrate and 7.8 million pounds of payable copper in concentrate

  • Costs below guidance with C1 cash costs of US$0.58 per payable pound of zinc sold on a by-product basis

  • Improved both zinc and copper recoveries at Bisha:

    • Zinc recovery improved by 8.5 percent to 81.1 percent

    • Copper recovery improved by 34.1 percent to 61.5 percent

  • Strong operating performance resulted in cash balance increasing from US$125 million to US$150 million during the quarter

  • Released the results of the Timok (Serbia) pre-feasibility study

  • Received the Timok exploration decline permit; all approvals now in place to begin construction in Q2 2018

  • Completed all drilling related to the US$20 million Timok Lower Zone work program which highlighted the deposit’s potentially significant scale and impressive grades; resource statement to be released in mid 2018

  • Discovered high sulfidation epithermal mineralization approximately 500 metres to the east of the Upper Zone

Click here to view the full Nevsun Resources (TSX:NSU) press release.

The Conversation (0)
×