Edison Investment Research Publishes Nevsun Resources
Edison writes about Nevsun Resources (NYSE: NSU), “In its third quarter financial results, Nevsun announced earnings 51.1% higher than in the previous quarter and 20.3% higher than our expectations, principally on account of the mining and processing of higher grade ore. In addition, the company was waiting on the settlement of sales of approximately 24,000oz of gold, worth c 7.6c per share (before associated costs) after deductions for tax and minority interests. At 89%, recoveries at the plant were 2% above planned levels (despite the onset of the rainy season in Eritrea).”
NSU closed yesterday at $5.40.
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