Nevsun Resources Q3 Profit Falls

Mining Weekly reported that Nevsun Resources’ Q3 attributable earnings dropped by 17% year-over-year, mostly due to lower gold sales from its flagship Bisha mine.

As quoted in the market report:

The company also said a lower realised gold price of $1 681/oz added to its weaker performance. The lower third-quarter production resulted from a lower milled grade and from lower recoveries at 87% for the period. Nevsun said the comparatively lower milled grades and recoveries were expected, based on the ore type for the section of the pit that was processed.

To view the whole Mining Weekly report, click here.