Nevsun Resources (TSX:NSU) has reported its financial results for the three months ended March 31, 2018, highlighting strong operation performance at the Bisha copper-zinc mine in Eritrea.
As highlighted in the press release:
Q1 2018 Highlights
*| Produced 71.6 million pounds of zinc and 8.9 million pounds of copper at Bisha (Eritrea)
*| Sold 53.4 million pounds of payable zinc in concentrate and 7.8 million pounds of payable copper in concentrate
*| Costs below guidance with C1 cash costs of US$0.58 per payable pound of zinc sold on a by-product basis
*| Improved both zinc and copper recoveries at Bisha:
*| Zinc recovery improved by 8.5 percent to 81.1 percent
*| Copper recovery improved by 34.1 percent to 61.5 percent
*| Strong operating performance resulted in cash balance increasing from US$125 million to US$150 million during the quarter
*| Released the results of the Timok (Serbia) pre-feasibility study
*| Received the Timok exploration decline permit; all approvals now in place to begin construction in Q2 2018
*| Completed all drilling related to the US$20 million Timok Lower Zone work program which highlighted the deposit’s potentially significant scale and impressive grades; resource statement to be released in mid 2018
*| Discovered high sulfidation epithermal mineralization approximately 500 metres to the east of the Upper Zone
