| Nevsun (NSU) Shuts Down Processing Plant at Bisha Mine - Analyst Blog | |
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Nevsun Resources Ltd. NSU has announced that the processing plant at the Bisha Mine has been temporarily shut down due to a mechanical issue with the ball mill. The company believes that the closedown, which may take about two weeks to resolve, will not negatively affect its 2015 annual production guidance.
During the period of shutdown, the mine plans to catch up on waste mining and speed up other preventative maintenance that was scheduled for later in 2015. Nevsun also provided some operational update. The company stated that the mining rates have improved and that too ahead of schedule in both waste and ore mining. Until the temporary shutdown, copper production was ahead of plan. The mill processed more than 365,000 tons of ore with copper feed grades through the end of Feb 2015.
Further, the company updated that the Zinc Expansion project remains on track and so does commissioning for mid-2016. The company announced that civil work is nearing completion for most areas and steel work erection has commenced. Moreover, major equipment and long-lead time items have been ordered.
The company planned to speed up gearbox maintenance for the ball mill during its inspection as a crack was observed in output shaft bearing. The planned ball mill reline is scheduled for the second quarter of 2015.
Nevsun Resources currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the mining industry include NovaCopper Inc. NCQ, Coeur Mining, Inc. CDE and Energy Fuels Inc. UUUU. While NovaCopper sports a Zacks Rank #1 (Strong Buy), Coeur Mining and Energy Fuels hold a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NEVSUN RESOURCS (NSU): Free Stock Analysis Report COEUR MINING (CDE): Free Stock Analysis Report NOVACOPPER INC (NCQ): Get Free Report ENERGY FUELS (UUUU): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Nevsun Resources Ltd
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PRODUCER |
CODE : NSU |
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CUSIP : 64156L |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Nevsun Res. is a zinc and gold development stage company based in Canada. Nevsun Res. produces zinc, gold, copper and silver in Eritrea and in Ghana, develops gold in Mali, and holds various exploration projects in Mali. Its main assets in production are BISHA in Eritrea and KUBI in Ghana, its main asset in development is TABAKOTO in Mali and its main exploration properties are KENIEBA SUD and SEGALA / DAR SALAM in Mali. Nevsun Res. is listed in Canada and in United States of America. Its market capitalisation is US$ 1.3 billions as of today (€ 1.2 billions). Its stock quote reached its lowest recent point on December 18, 2001 at US$ 0.04, and its highest recent level on November 07, 2003 at US$ 8.18. Nevsun Res. has 301 869 984 shares outstanding. |