douginil
6 years ago
Nevsun Announces Second Chinese Regulatory Approval for Zijin Offer
November 1, 2018
Vancouver, BC โ Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") today announced that it has been advised by Zijin Mining Group Co. Ltd. (SH:601899, SEHK:2899) ("Zijin") that Zijin has received the second of three required regulatory approvals from the People's Republic of China ("PRC") for Zijin's proposed friendly takeover bid of Nevsun (the "Offer").
The second PRC approval is from the Ministry of Commerce ("MOFCOM"). With the previously announced NDRC and today's MOFCOM approvals in hand, Zijin will submit, as soon as practicable, an application to the State Administration of Foreign Exchange ("SAFE") for the third and final PRC regulatory approval required as a condition of the Offer.
As previously disclosed, Zijin's Offer for Nevsun is all cash consideration of C$6.00 per Nevsun share representing a premium of 57% over Nevsun's unaffected closing price of C$3.82 on May 7, 2018, the day Lundin Mining Corporation ("Lundin") first publicly announced its intention to acquire Nevsun. In addition, the Zijin Offer is C$1.25 per Nevsun share, or 26%, more than the C$4.75 per share hostile take-over bid for Nevsun launched by Lundin on July 26, 2018.
The transaction is also subject to approval under the Investment Canada Act and customary closing conditions. The Zijin Offer is not subject to any financing conditions. Nevsun will continue to work with Zijin to complete the transaction and will keep shareholders updated as conditions of the Offer are met.
Read more at:
https://www.nevsun.com/news/2018/november1/
douginil
6 years ago
Nevsun Announces NDRC Regulatory Approval and Competition Act Clearance for Zijin Offer
October 24, 2018
Vancouver, BC โ Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") today announced that it has been advised by Zijin Mining Group Co. Ltd. (SH:601899, SEHK:2899) ("Zijin") that Zijin has received one of the three required regulatory approvals from the People's Republic of China ("PRC") and has received Canadian Competition Act clearance for Zijin's proposed friendly takeover bid of Nevsun (the "Offer").
The PRC approval received is from the PRC's National Development and Reform Commission ("NDRC"). The second PRC approval from the Ministry of Commerce ("MOFCOM") is still pending. Once these two PRC regulatory approvals are in hand, Zijin will submit, as soon as practicable, an application to the State Administration of Foreign Exchange ("SAFE") for the third and final PRC regulatory approval required as a condition of the Offer.
As previously disclosed, Zijin's Offer for Nevsun is all cash consideration of C$6.00 per Nevsun share representing a premium of 57% over Nevsun's unaffected closing price of C$3.82 on May 7, 2018, the day Lundin Mining Corporation ("Lundin") first publicly announced its intention to acquire Nevsun. In addition, the Zijin Offer is C$1.25 per Nevsun share, or 26%, more than the C$4.75 per share hostile take-over bid for Nevsun launched by Lundin on July 26, 2018.
Read more at:
https://www.nevsun.com/news/2018/october24/
douginil
6 years ago
Friendly All-Cash Agreement for Nevsun to be Acquired by Zijin Mining for US$1.41 billion
Consideration of C$6.00 per share represents 57% premium to unaffected Nevsun share price
Board of Directors unanimously recommends Nevsun shareholders ACCEPT the Offer
September 5, 2018
Vancouver, BC, / Fujian, China -- Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") and Zijin Mining Group Co. Ltd. (SH:601899, SEHK:2899) ("Zijin") today announced that the parties have entered into a definitive agreement pursuant to which Zijin will make a take-over bid to acquire all of the issued and outstanding shares of Nevsun for C$6.00 per share in cash (the "Offer"). The Offer is valued at C$1.86 billion (US$1.41 billion).
The cash consideration of C$6.00 per share represents a premium of 57% over Nevsun's unaffected closing price of C$3.82 on May 7, 2018, the day Lundin Mining Corporation ("Lundin") first publicly announced its intention to acquire Nevsun. In addition, the Offer is C$1.25 per Nevsun share, or 26%, more than the C$4.75 per share hostile take-over bid for Nevsun launched by Lundin on July 26, 2018. The Offer is not subject to any financing conditions.
Nevsun management will host a conference call and webcast today (September 5, 2018) at 7:00am in Vancouver, 10:00am in Toronto/New York, 3:00pm in London to discuss the Offer from Zijin. Please call in at least five minutes prior to the conference call start time to ensure prompt access to the conference. Dial in details are as follows:
North America (toll free): 1 888-231-8191
UK (toll free): 0-800051-7107
Other International: +1 647-427-7450
The conference call will be available for replay by phone until September 12, 2018 by calling 1 888-859-2056 / 416-849-0833 and entering passcode 1553148 #.
Webcast
A live audio webcast of the conference call will be available on the Company's website http://www.nevsun.com or by clicking here.
Read more at:
https://www.nevsun.com/news/2018/september5/
douginil
6 years ago
August 9, 2018
Nevsun's Board of Directors Rejects Lundin Mining's Hostile Bid; Offer Does Not Recognize the Value of Nevsun's Assets; Company to Proceed with Full Strategic Review
Nevsun's Board recommends that shareholders REJECT the Hostile Bid and DO NOT TENDER YOUR SHARES
Vancouver, BC, -- Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") today announced that its Board of Directors, after careful consideration and receipt of the recommendation of a special committee of its independent directors (the "Special Committee"), and after consultation with its financial and legal advisors, has rejected the hostile offer by Lundin Mining Corporation ("Lundin"), to acquire all of the outstanding shares of Nevsun for C$4.75 per share in cash (the "Hostile Bid"). The Board unanimously recommends that Nevsun shareholders REJECT the Hostile Bid and not tender their shares. In the Board's view the Hostile Bid:
Fails to recognize the fundamental and strategic value of Nevsun's unique portfolio of producing and development assets, underpinned by the world-class Timok Project
Provides an inadequate premium for control, lower than precedent transactions
Is lower in value than previous transactions proposed by Lundin to Nevsun
Is lower in value than other alternatives which are expected to emerge
Read more at:
https://www.nevsun.com/news/2018/august9/
douginil
6 years ago
Nevsun Releases 2017 Corporate Social Responsibility Report
July 5, 2018
Vancouver, BC โ Nevsun Resources Ltd. (TSX: NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") announces the release of its 2017 Corporate Social Responsibility (CSR) Report titled "Core Growth". This is Nevsun's seventh CSR Report, reflecting the Company's continued commitment to transparency and accountability in our sustainability objectives and aligning with our vision to maximize long-term community benefits and shareholder value in the sustainable development of mineral resources.
At our Bisha copper-zinc mine, we made significant advances on environmental management, worker rights and community development projects in 2017. At our Timok Upper Zone (Cukaru Peki) project in Bor, Serbia, we have continued to develop CSR programs that align with our business objectives and address the needs of local communities. This includes developing a comprehensive land acquisition and resettlement program that meets Serbian legal requirements and complies with the International Finance Corporation (IFC) Environmental, Health and Safety Guidelines for Mining. We are creating local jobs, making community investments, and enhancing our contractor and procurement policies as important steps toward establishing ourselves as a valued community presence.
Read more at:
https://www.nevsun.com/news/2018/july5/
To view our 2017 Corporate Social Responsibility Report, please visit http://www.nevsun.com/responsibility/reporting/.
douginil
6 years ago
Nevsun Extends Mine Life at Bisha Zinc-Copper Mine
VANCOUVER, June 14, 2018 - Nevsun Resources Ltd. (TSX: NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") announced today that, together with its Eritrean partner ENAMCO, Nevsun has approved an extension to the Bisha zinc-copper mine in Eritrea, self-funded by existing cash flows from Bisha. The open-pit extension adds 3.3 million tonnes of high-grade ore to the mill and extends operations through the full year 2022, resulting in additional payable production of 470 million pounds of zinc and 52 millions pounds of copper over this time frame. In addition to incremental production and revenue, the extension provides time for Bisha to advance assessment of the Asheli and Harena underground deposits and to consider further open-pit extensions.
Read more at:
https://www.nevsun.com/news/2018/june14/
douginil
6 years ago
Nevsun Advances Timok Upper Zone Copper-Gold Project with Release of Robust PFS
March 28, 2018
Vancouver, BC โ Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN: NSU) (Nevsun or the Company) today announced the results of a pre-feasibility study ("PFS") for the Timok Upper Zone copper-gold project in Serbia ("Timok Project" or "Project"), one of the world's best development stage copper projects. All economic values within this release are in US dollars unless indicated otherwise.
Nevsun CEO Peter Kukielski commented, "The PFS confirms the extraordinary value of our wholly-owned Timok Upper Zone project. This is a high-grade, high return, fully executable copper project in a supportive jurisdiction. The PFS is an important advance over our October 2017 Preliminary Economic Assessment and further de-risks the Project by improving confidence in the engineering details, metallurgical understanding, timeline to production and capital assumptions.
Read more at:
http://www.nevsun.com/news/2018/march28/
douginil
6 years ago
Nevsun Reports Further Exceptional Drill Results from the Lower Zone Copper-Gold Porphyry at Timok - Initial Resource Expected by Mid-2018
Vancouver, BC โ Nevsun Resources Ltd. (TSX:NSU) (NYSE American:NSU) ("Nevsun" or the "Company") is pleased to announce new assay results from the recently completed $20 million exploration drill program of the Lower Zone at the Timok copper-gold project ("Timok Project") in Serbia.
Highlights
- 1.00% Cu and 0.20g/t Au (1.14% Cu equivalent) over 556.8 meters starting at 1,310 meters in TC170177
Including 1.45% Cu, 0.32g/t Au (1.67% Cu equivalent) over 177.0 meters
- 0.91% Cu and 0.18g/t Au (1.04% Cu equivalent) over 558.0 meters starting at 1,366 meters in TC170187
Including 1.00% Cu, 0.19g/t Au (1.13% Cu equivalent) over 309 meters
- 0.97% Cu and 0.14g/t Au (1.07% Cu equivalent) over 390.0 meters starting at 1,106 meters in TC170181
Including 1.35% Cu, 0.22g/t Au (1.50% Cu equivalent) over 117 meters; and also
- 1.06% Cu and 0.21g/t Au (1.21% Cu equivalent) over 312.0 meters starting at 1,583 meters in TC170181
Including 1.47% Cu, 0.32g/t Au (1.69% Cu equivalent) over 165 meters
- 1.32% Cu and 0.17g/t Au (1.44% Cu equivalent) over 174.0 meters starting at 1,411 meters in TC170185
Including 1.87% Cu, 0.23g/t Au (2.03% Cu equivalent) over 108 meters
Cu equivalent calculated as 1g/t Au = 0.7% Cu
Intersections estimated to be approximately 50-95% of true width
Read more at:
http://www.nevsun.com/news/2018/march26/
geodan
7 years ago
VANCOUVER , Jan. 10, 2018 /PRNewswire/ - Nevsun Resources Ltd.(NSU) ("Nevsun" or the "Company") is pleased to report its 2017 fourth quarter and full year production results (100% basis) for the Bisha Mine in Eritrea for the year ending December 31, 2017.
Bisha Full Year 2017 Operating Highlights
Produced 207.8 million pounds of zinc in zinc concentrate, at the top end of its guidance of 190-210 million pounds
Produced 18.0 million pounds of copper in copper concentrate, below guidance of 20-30 million pounds
Produced 55.1 million pounds of zinc in Q4 2017 as zinc recoveries continued to improve in H2 2017 from H1 2017
Moved a record 5.3 million tonnes of material in Q4 2017
Peter Kukielski , Nevsun CEO, commented, "We continued to see positive results from our primary ore metallurgy improvement program in the second half of 2017 with zinc recoveries now consistently around 70%. A specialist contractor was brought in to oversee heavy mining equipment maintenance, which resulted in improved equipment availability and allowed Bisha to move a record amount of waste in Q4. This completed the necessary catch up on stripping of the Bisha pit to allow the mine to access and process 100% fresh primary ore in 2018."
Mr. Kukielski continued, "We look forward to providing the market with our 2018 outlook for both Bisha and Timok later this month."