Nevsun Resources Provides 2015 Guidance

Nevsun Resources (TSX:NSU) reported its 2015 objectives, including copper production and capital allocation guidance for the company. Nevsun also reported coming in at the top end of its production guidance for 2014.

As quoted in the press release:

BMSC expects to produce between 160 and 175 million pounds of copper in concentrate in 2015 through processing of approximately 2,300,000 tonnes of ore from Bisha Main pit averaging about 3.9 percent copper feed grade. We expect our C1 cash cost for 2015 will be $1.20 to $1.40 per payable pound sold. Our budget assumptions include diesel fuel prices of $1.13 per litre and by-product revenues based on $1,100 per ounce of gold and $15 per ounce of silver, however we now expect there is opportunity to improve on these assumptions.

Nevsun CEO, Cliff Davis, said:

Following a very strong 2014 year from both an operating and financial perspective, Nevsun is looking forward to another year of exceptional production with strong free cash flow and earnings from Bisha in 2015. For organic growth, we plan to aggressively explore the Bisha VMS district to again further expand our resources and reserves. In addition and in parallel, we are actively evaluating potential merger or acquisition opportunities to grow and diversify Nevsun cash flow.

Click here to read the Nevsun Resources (TSX:NSU) press release