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Nevsun Resources (NYSEMKT:NSU)’s huge Bisha project

Boston, MA 09/27/2013 (wallstreetpr) – In Thursday’s trading, Nevsun Resources (NYSEMKT:NSU) stock dropped by 0.91%. The opening price of the shares was $3.29 which climbed to an intraday high of $3.32 and dropped to a close of $3.25. Approximately 0.203 million shares were traded on Thursday and an average volume of 0.757 million shares was traded over a 30 day period. The 52- week low of the shares was $2.65 and the 52-week high was $4.98. The company has a market capitalization of 647.75 million.

Nevsun Resources (NYSEMKT:NSU) is a gold and base-metal mining and an exploration company. Via its subsidiaries, it is involved in acquiring, exploring, developing and producing mineral properties. As of 31 December 2011, its portfolio was made up of the
Bisha Property situated in Eritrea, in the North-East region of Africa.

The Bisha project

It has gold, silver and base-metal (zinc and copper) mineral-resources and mineral-reserves. This Property is situated 150 kms west of Asmara, which is 43 kms south-west of Akurdat, the regional town and 50 kms north of Barentu. The latter is Gash-Barka District‘s regional or Zone Administration Centre, in Eritrea, East-Africa. As of 31 December, 2011, Bisha Mining S.C owned Bisha. It held a 60% stake in the Company and 40% was held by the Eritrean National Mining Corporation In 2012 October NGEx Resources Inc. sold the Hambok copper zinc deposit to the Bisha Mining Share Company.

More about the Bisha project

Bisha is a massive, high-grade volcanogenic-massive-sulphide situated50km west of Asmara, Eritrea, East Africa. The gold and silver-oxides it contains at surface are underlain by zinc and copper massive sulphides. It benefits from strong support from the Government of Eritrea. It also has an advantageous-location with good port and road infrastructure. The Bisha Mine commenced construction in 2008 September and declared its commercial production in 2011 February at a 2Mtpa rate.

Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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