Tag Archives: bisha

Nevsun Rejects Lundin Takeover, Seeks Alternative Buyer

Nevsun recommends shareholders reject hostile Lundin Takeover
Nevsun recommends shareholders reject hostile $1.4-billion takeover attempt by Lundin Mining. Nevsun CEO Peter Kukielski says companies in China, Japan and elsewhere are among “several” potential white knights interested in buying the miner. (Photo: Taylor Weidman/Bloomberg)


Nevsun Resources Ltd. says companies in China, Japan, and Western countries are among potential white knights that have expressed interest in buying the miner as it seeks to ward off a hostile takeover by Lundin Mining Corp. Continue reading Nevsun Rejects Lundin Takeover, Seeks Alternative Buyer

Can Uncertainty Over Sovereign Risk Create a Buying Opportunity for Nevsun Resources?

“Eritrea is a mysterious economic zone but companies operating in the country are simply overlooked by the market. Almost all reports on sovereign risk label it a “no go.” But what we found out is that idea is a bit exaggerated. That is why frontier markets like Nevsun are there to take full advantage of the growth” – Nicholas Bhandari, Head of Quantitative Research at Equities.com

By Joel Anderson | Equities.com,

The Equities.com research team looked into Nevsun Resources (NSU) with its most recent research report. The Canadian resource company, which is active in Eritrea, presented an intriguing challenge in terms of valuation, so we talked with Nicholas Bhandari, Head of Quantitative Research at Equities.com, about the approach they took in digging into this mining company.

You can download the entire research report in the research section at Equities.com.

EQ: So with Nevsun Resources, you’ve delved into new territory a bit in trying to assess the risk associated with operating a mine in a country with uncertain political and economic futures. How did you approach this challenge, as your other reports to this point haven’t included this sort of risk?  Continue reading Can Uncertainty Over Sovereign Risk Create a Buying Opportunity for Nevsun Resources?

Nevsun Discovers New Massive Sulphide Deposit at Bisha

Nevsun discovered a massive VMS deposit in Asheli, an area that lies on the Mogoraib exploration license, 20km southwest of Bisha mine. Nevsun first bought the Mogoribe license including the copper-zinc Hambok deposit from Sanu Resources in 2012 at only US$5 million. According to the deal, Nevsun will add another US$7.5 million to Sanu Resources upon achieving commercial production from the Property.

By Nevsun,

NEVSUN Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (Nevsun or the Company) is pleased to announce assay results from a new massive sulphide discovery at the grassroots Asheli prospect on the Mogoraib River Exploration License located 20 kilometers southwest of the Bisha processing plant.

The Asheli drilling is part of the 2015 Bisha regional exploration program which builds on the highly successful 2014 program.  Continue reading Nevsun Discovers New Massive Sulphide Deposit at Bisha

Eritrea Waves the Mining Flag

Eritrea becomes one of the most attractive mining jurisdiction

By Proactive Investors,

ERITREA has become an increasingly attractive address for mining investment since its independence 24 years ago with its attractive investment regime attracting 17 companies from China, Russia, UK and Australia.

These include South Boulder Mines (ASX:STB), Nevsun Resources (AMEX:NSU), Sunridge Gold Corporation (TSX: SGC) and China’s SFECO.

Eritrea has a long history of mining starting with colonisation period when Italy had established mining industry at Karora, Debarewa, and Augaro.

It has a stable government with an educated and disciplined work force while benefitting from its location along the Red Sea, which offers access to export markets. Continue reading Eritrea Waves the Mining Flag

Nevsun Receives Strong Support from Shareholders at 2015 AGM

A VOTE OF CONFIDENCE. At a time when the market is getting awful and good news is greeted with selling, Nevsun is simply doing out of the ordinary from its Bisha and Harena mines in Eritrea. For the three months that ended on March 31, 2015 for instance, the company reported $37 million in Operating cash flow by producing 38 million pounds of copper.

By Nevsun Resources,

NEVSUN Resources Ltd. (TSX:NSU / NYSE MKT:NSU) (the “Company” or “Nevsun”) is pleased to announce the results of voting at its annual general and special meeting of shareholders which was held on May 4, 2015, in Vancouver, British Columbia (the “Meeting”).

A total of 76.15% of outstanding shares were voted at the Meeting which showed a high participation of shareholders and evidenced strong support for the election of its nominees as directors, for Nevsun’s approach to executive compensation, for continuation of its stock option plan and approval of unallocated options issuable pursuant to the stock option plan.

Election of Directors

The six nominees for director listed in Nevsun’s management proxy circular were elected as set out in the following table:


Votes For


R. Stuart Angus



Ian R. Ashby



Clifford T. Davis



Robert J. Gayton



Gary E. German



Gerard E. Munera



Say on Pay Advisory Vote

Nevsun’s approach to executive compensation (say on pay) was accepted by a 95.43% majority of the votes cast at the Meeting and shows its shareholders are confident in Nevsun’s approach to executive compensation.  The Company also received valuable input from shareholders as part of the process. The primary objective of the Company’s compensation program, including the executive compensation program, is to attract and retain qualified employees that fit in with the Nevsun corporate culture in order to achieve its corporate objectives and increase shareholder value and to promote greater alignment of interests between its executive officers and shareholders.

Stock Option Plan

The stock option plan of the Company (the “Plan”) was ratified and approved and all unallocated options issuable pursuant to the Plan were approved for granting pursuant to the Plan until May 4, 2018 by a 95.29% majority of the votes cast.

Appointment of Auditors

KPMG LLP was appointed as auditors of the Company and the directors of the Company were authorized to fix the remuneration of the auditors by a 96.49% majority of the votes cast.

About Nevsun Resources Ltd.

Nevsun Resources Ltd. is a Vancouver-based mining company with an operating mine in Eritrea.  Nevsun’s 60%-owned Bisha Mine ranks as one of the highest grade open pit copper mines in the world. Nevsun has a strong balance sheet and future cash flows to grow shareholder value through exploration at Bisha and acquisition of additional mining assets.

Nevsun Provides Update on its $92m Zinc Expansion Project

By Nevsun Resources,

NEVSUN Resources Ltd. (TSX: NSU) (NYSE MKT: NSU) is pleased to provide an update on the Bisha zinc expansion project which will average over 100,000 tonnes (225 million pounds) of zinc and 24,000 tonnes (55 million pounds) of copper per year for 10 years after start up in mid-2016.

The zinc expansion project adds zinc flotation capacity to the Bisha processing plant. This zinc flotation plant floats zinc concentrate after existing copper flotation, enabling the production of two products: zinc and copper concentrate as required to process primary ores.  Continue reading Nevsun Provides Update on its $92m Zinc Expansion Project