Nevsun’s Q2 Copper Production Totals 47.4 Million Pounds

Nevsun Resources Ltd. (TSX:NSU,NYSEMKT:NSU) announced its financial and operating results for the three and six months ended June 30, 2014. During Q2 it produced 47.4 million pounds of copper and sold 51.5 million pounds of copper.

Other highlights include:

• Achieved C1 cash costs of $1.05 per pound with strong earnings and cash flows
• Working capital approaching $500 million
• Announced successful drilling results from Bisha regional exploration
• Paid peer leading annualized dividend of $0.14 per share

Cliff Davis, president and CEO of Nevsun, commented:

As expected, Bisha accelerated both production and sales of copper concentrate during Q2 2014 with 87.1 million pounds of production year-to-date, including a record monthly production in June 2014 of 17.8 million pounds. This additional truck capacity allowed us to sell 51.5 million pounds during Q2 2014, a 51% increase versus the prior quarter.

We ended Q2 with an even stronger balance sheet with working capital approaching $0.5 billion. Our strong balance sheet allows us to comfortably maintain our quarterly dividend and continue to build up capital for future acquisitions or mergers.

We are excited to see some early success in our 2014 exploration program and have expanded the budget. We will be providing more updates throughout 2014 as we further evaluate the potential of the Bisha VMS belt.

Click here to read the full Nevsun Resources Ltd. (TSX:NSU,NYSEMKT:NSU) press release.