The Conversation (0)
Nevsun Resources Ltd. (TSX:NSU,NYSEMKT:NSU) released an update on two of its 2016 objectives: the Bisha zinc expansion project and precious metals stockpiles monetization.
Nevsun Resources Ltd. (TSX:NSU,NYSEMKT:NSU) released an update on two of its 2016 objectives: the Bisha zinc expansion project and precious metals stockpiles monetization.
As quoted in the press release:
Zinc Expansion Project Highlights
- Nearly one million man hours with zero lost time incidents
- Construction remains on-schedule and well under budget
- Cold commissioning now underway and progressing well
- Hot (ore) commissioning delayed one month due to additional supergene copper processing
- Zinc concentrate marketing attracting significant interest
- Forecasting top end of supergene production guidance
Precious Metal Stockpile Sales Highlights
- Strong buyer demand generating better than plan commercial terms of sale
- Low marine shipping rates helping drive lower than expected selling costs
- Approximately 20,000 tonnes shipped in Q1 with ongoing shipments expected through 2016
Cliff Davis, CEO of Nevsun, commented:
With the zinc plant nearly complete, strong demand for products and increasing gold, silver and copper prices since December 31, 2015, we expect higher than budgeted cash flows throughout 2016. The recent precious metal stockpile sales confirm the marketability of the material at more favourable commercial terms than originally expected. In addition, with the likely prioritization of shipping the precious metal stockpile material, I am not expecting the first sale of zinc concentrate until late Q3 or early Q4 2016.
Click here to read the full Nevsun Resources Ltd. (TSX:NSU,NYSEMKT:NSU) press release.