Winners were few and far between Friday, but punters couldn't resist Nevsun Resources stock after low-cost high-grade Eritrea mine delivered on all counts.
Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to announce the revised reserve estimate for its Bisha mine in Eritrea.
The revised estimate has increased the total proven and probable reserves to 28.3 million tonnes from the previously reported 20.1 million tonnes (2006 feasibility study). The net impact of higher throughputs and lower cut-off grade has resulted in an extended mine life of 13 years, while increasing previously reported robust cash flow.
Skire, a leading provider of capital program, facilities and project portfolio management software, notes that Nevsun Resources (gold and base metal resources) has completed its deployment of Skire UnifierTM for use in its $250 million Bisha project in Eritrea. Unifier will provide comprehensive cost, document and schedule management capabilities, as well as advanced reporting, for [...]
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