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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.

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