Nevsun Resources Earns $0.01 Per Share in Q3

Nevsun Resources (TSX:NSU) reported earnings of US$0.01 per share for the third quarter of 2015 despite a continued decline in copper prices.
As quoted in the press release, highlights from the quarter included:

• Earned $0.01 per share despite significant decline in copper prices
• Generated $127 million in cash year-to-date from operating activities
• Maintained strong working capital of $489 million, including $434 million of cash
• Produced 32.5 million pounds of copper
• Continued low C1 cash costs() of $1.56 per payable pound sold
• Paid quarterly dividend of $0.04 per share
• Continued zinc expansion project – on-time and on-budget
• Progressed significantly on the Bisha life of mine optimization study
• Announced additional positive drilling results confirming confidence in emerging Bisha VMS district

Nevsun CEO, Cliff Davis, stated:

Nevsun’s balance sheet remains strong and poised for growth despite weaker metal prices and lower production at Bisha. On a year-to-date basis, we have generated earnings and free cash flow to fund our zinc capital expansion and comfortably maintain our dividend.

Click here for the full press release.