For gold-miner Nevsun, fortunes swing again

Shareholders in Vancouver-based Nevsun Resources, more than 50% down since February, got some respite on Wednesday, when the Eritrea-focused gold miner raised its 2012 production guidance by around 25% to between 240 000 oz to 260 000 oz. The...

Ultrafiltration technology used at new water treatment plant

Ultrafiltration membrane technology will be used at a new water treatment plant for minerals exploration and development company African Minerals’ Tonkolili iron-ore mine, in Sierra Leone, West Africa, reports water treatment engineering company...

Prefeas gives Sunridge's Ertirea project $555m NPV

TSX-V- and ASX-quoted Sunridge Gold’s Asmara project in Eritrea has the potential to produce 25 900 t of copper and 61 800 t of zinc yearly, in addition to silver and gold, the company said on Wednesday, announcing the results of a...

Nevsun reports strong Q1 production

TSX-listed Nevsun Resources on Wednesday reported strong first-quarter production results with 82 000 oz of gold produced during the period ended March 31. The company said gold output from its Bisha mine, in Eritrea, was above expectations on...

Nevsun posts $78m profit for Dec quarter

Nevsun Resources, which owns the Bisha gold mine in Eritrea, made $78.3-million in net after-tax earnings in the last three months of 2011, about 12% lower than the previous quarter’s profit, as output and prices shrunk. The company produced...

Nevsun rises on share repurchase announcement

Apple Inc. wasn’t the only company looking to give shareholders a bite of its growing cash pile in the way of stock repurchases on Monday morning – Vancouver-based Nevsun made a similar move, though obviously on a much smaller scale. The TSX-...

Nevsun Q4 production slips 8% on prior quarter

Nevsun Resources, which mines gold in Eritrea, produced 101 000 oz in the last quarter of 2011 and 379 000 for the full year, the company said on Tuesday. The quarterly production was 8% lower than the figure for the previous three months.

Chalice puts Eritrea gold project on chopping block

TSX- and ASX-quoted Chalice Gold Mines said on Monday it signed a nonbinding agreement to sell its Zara project in Eritrea, the East African State that the UN slapped with further sanctions last week. The junior did not disclose the name of the...

Nevsun sees no direct impact from Eritrea sanctions

Gold miner Nevsun Resources on Tuesday said there would be no direct impact on its operations in Eritrea, following the United Nations Security Council (UNSC) tightening two-year-old sanctions against the State this week, following a UN-report...

Nevsun dishes out more dividends

Eritrea-focused gold miner Nevsun Resources on Monday boosted its semi-annual dividend 40% to $0.05 a share, as its cash pile from the Bisha mine continues to grow. The company, which in May announced its maiden dividend at $0.03 a share, said...

Company Announcement: High Grade Gold Intercepts at Zara Project

Additional high-grade mineralisation intersected at Koka South: New zone identified at Debra Konate

Company Announcement: Chalice takes key step towards gold production with signing of Eritrean Mining Agreement

Chalice Gold Mines Limited is pleased to announce that its 60 per cent-owned Eritrean joint venture company, Zara Mining Share Company, has executed a Mining Agreement with the Government of the State of Eritrea, paving the way for financing and...