[DEHAI] Bisha Mining Share company Signs Production Sales Contracts


New Message Reply About this list Date view Thread view Subject view Author view

From: hiruye tekle (htekle@hotmail.com)
Date: Fri Sep 18 2009 - 21:08:45 EDT


News
:
National News

      Last Updated: Sep 18th, 2009 - 10:37:12
     
    
    

    
     
      
       
        Bisha Mining Share company Signs Production Sales Contracts Metal Sales Contracts Secured for Copper Concentrates and Gold ore

        By Staff

        Sep 18, 2009, 10:34

       
       
      
     
     
     
Bisha Mining Share Company is very pleased to announce that it has
entered into metal sales contracts for its future gold ore and copper
concentrate production at the Bisha Mine in Eritrea. Pricing for all
metals will be fixed at spot rates at the time of delivery.

The gold will be refined in Switzerland and Canada by two major
international companies while the copper concentrate will be shipped to
major smelters in Europe and India.

Production is currently scheduled to commence during autumn of 2010.
Gold production within the first two years is estimated at
approximately 900,000 ounces of payable metal, followed by over
500,000,000 pounds of payable copper in years 3-5, plus an additional 1
billion pounds of payable zinc and 200,000,000 pounds of copper in
years 5-10.

As a result of high grade gold ore, the expected $200 per ounce cash
operating costs are expected to be much lower than industry averages
and should generate sufficient cash flow to quickly pay off project
debt, allow for expansion capital and provide significant returns to
the Government and shareholders ENAMCO and NEVSUN BMSC considers this
milestone as another vote of confidence in the Project and in the
country of Eritrea.

 

                
BECOME A SHARE HOLDER!!!!!!!!!!!

                                                _________________________________________________________________ Microsoft brings you a new way to search the web. Try Bing™ now http://www.bing.com?form=MFEHPG&publ=WLHMTAG&crea=TEXT_MFEHPG_Core_tagline_try bing_1x1
--_49db6e0b-782b-4e5d-8f22-661e8ff7322d_
Content-Type: text/html; charset="Windows-1252"
Content-Transfer-Encoding: quoted-printable

<html>
<head>
<style><!--
.hmmessage P
{
margin:0px;
padding:0px
}
body.hmmessage
{
font-size: 10pt;
font-family:Verdana
}
--></style>
</head>
<body class='hmmessage'>
<table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr><td><span class="header_breadcrumb"><a href="http://www.shabait.com/staging/publish/category_0017.html">News</a>
:
National News
</span></td>
      <td align="right"><span class="general_text">Last Updated: </span><span class="global_updated">Sep 18th, 2009 - 10:37:12</span></td>
     </tr>
    </tbody></table>
    <hr size="1"><br>
    
     <table width="100%" border="0" cellpadding="0" cellspacing="0">
      <tbody><tr>
       <td><span class="article_text">
        <span class="article_title">Bisha Mining Share company Signs Production Sales Contracts Metal Sales Contracts Secured for Copper Concentrates and Gold ore</span><br>
        By Staff<br>
        Sep 18, 2009, 10:34<br><br>
       </span>
       </td>
      </tr>
     </tbody></table>
     
     <span class="article_text">
Bisha Mining Share Company is very pleased to announce that it has
entered into metal sales contracts for its future gold ore and copper
concentrate production at the Bisha Mine in Eritrea. Pricing for all
metals will be fixed at spot rates at the time of delivery.<br>
The gold will be refined in Switzerland and Canada by two major
international companies while the copper concentrate will be shipped to
major smelters in Europe and India. <br>
Production is currently scheduled to commence during autumn of 2010.
Gold production within the first two years is estimated at
approximately 900,000 ounces of payable metal, followed by over
500,000,000 pounds of payable copper in years 3-5, plus an additional 1
billion pounds of payable zinc and 200,000,000 pounds of copper in
years 5-10.<br>
As a result of high grade gold ore, the expected $200 per ounce cash
operating costs are expected to be much lower than industry averages
and should generate sufficient cash flow to quickly pay off project
debt, allow for expansion capital and provide significant returns to
the Government and shareholders ENAMCO and NEVSUN BMSC considers this
milestone as another vote of confidence in the Project and in the
country of Eritrea. <br>
 <br>

     </span> <br>BECOME A SHARE HOLDER!!!!!!!!!!!<br><hr id="stopSpelling"><br><BR> <br /><hr />Microsoft brings you a new way to search the web. <a href='http://www.bing.com?form=MFEHPG&publ=WLHMTAG&crea=TEXT_MFEHPG_Core_tagline_try bing_1x1' target='_new'>Try Bing™ now</a></body>
</html>
--_49db6e0b-782b-4e5d-8f22-661e8ff7322d_--


New Message Reply About this list Date view Thread view Subject view Author view

webmaster
© Copyright DEHAI-Eritrea OnLine, 1993-2009
All rights reserved