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Nevsun Resources Ltd.
Summary
| Project: | Timok | |
|---|---|---|
| Deposit: | Upper Zone | |
| Location: | Serbia | |
| Commodities: | Copper-Gold-Arsenic | |
| Date: | 10/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 26-10-2017: Nevsun Resources Ltd. announces a PEA report for its Upper Zone deposit at the Timok project. Updated PEA, NPV (8%) $1.5B, IRR 50% after tax. Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT: NSU) (Nevsun or the Company) today announced the results | |
| Resources: | (Resource, M+I): 28.7Mt @ 3.7% Cu, 2.4g/t Au, 0.2% As at project | |
| CP/QP: | [Resources]: Martin Pittuck (SRK Consulting (UK) Ltd.) | |
| ABSTRACT: | Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT: NSU) (Nevsun or the Company) today announced the results of the updated Preliminary Economic Assessment (“PEA”) for the high grade Timok Upper Zone project in Serbia (“Timok Project” or “Project”), one of the world’s best undeveloped copper projects. All economic values are in 2017 US dollars unless indicated otherwise. Nevsun CEO Peter Kukielski commented, “The PEA demonstrates the extremely compelling economics of the Timok Upper Zone project. Nevsun is in a unique position in the industry with a 100% ownership of a high grade, high return copper project in a well-established mining jurisdiction.” Mr. Kukielski continued, “For now, we remain focused on further defining the project capital cost and execution plan through robust front-end engineering. Additional detailed design and metallurgical test work is ongoing ahead of the pre-feasibility study and we now plan to break ground on the exploration decline in Q1 2018. We are working with the Serbian government on permitting with the objective to start production in 2021.” CFO, Ryan MacWilliam continued, “Nevsun’s strong balance sheet with $151 million in cash, no debt, Bisha cash flow and strong front-end cash flow from Timok, puts the Company in a strong position to finance the project build.” | |
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