2014 Press Releases-Nevsun Update on Bisha Operations
December 8, 2014
<
http://www.nevsun.com/investors/> Nevsun Resources Ltd. (TSX:NSU / NYSE
MKT:NSU) (Nevsun or the Company) reports an update on operations at the
Bisha Mine in Eritrea. Over the past week the Bisha process plant has had
power supply issues with its third party power plant, causing a temporary
halt in concentrate production. Mining operations continue at full capacity
and Bisha continues to truck and export stockpiled concentrates. The Company
has already achieved its annual production guidance and the plant
interruption does not have a negative impact on the Company's 2014 financial
results as we will draw down and sell from stockpiled concentrate
inventories.
Bisha's diesel power plant is provided by Aggreko Power Systems. Recently,
Aggreko replaced nine of the 27 generators as part of scheduled maintenance
of the plant. The fix of the power interruption was initially thought to be
a short-term issue however the power facility has been unable to reliably
restart and Aggreko has mobilized to the Bisha site appropriate resources
and technical personnel to assess and correct the problem in a timely
manner. Nevsun will provide an update on when the plant is expected back
online.
Forward Looking Statements
The above contains forward-looking statements or forward-looking information
within the meaning of the United States Private Securities Litigation Reform
Act of 1995, and applicable Canadian securities laws. Forward-looking
statements are frequently, but not always, identified by words such as
"expects," "anticipates," "believes," "intends," "estimated," "potential,"
"possible" and similar expressions, or statements that events, conditions or
results "will," "may," "could" or "should" occur or be achieved.
Forward-looking statements are statements concerning the Company's current
beliefs, plans and expectations about the future including but not limited
to commercial production, future production of copper and related cash flows
and are inherently uncertain. The actual achievements of the Company or
other future events or conditions may differ materially from those reflected
in the forward-looking statements due to a variety of risks, uncertainties
and other factors, including, without limitation, the risks that: (i) any of
the assumptions in the historical resource estimates turn out to be
incorrect, incomplete, or flawed in any respect; (ii) the methodologies and
models used to prepare the resource and reserve estimates either
underestimate or overestimate the resources or reserves due to hidden or
unknown conditions, (iii) exploration activities or the mine operations are
disrupted or suspended due to acts of god, internal conflicts in the country
of Eritrea, unforeseen government actions or other events; (iv) the Company
experiences the loss of key personnel; (v) the Company's operations or
exploration activities are adversely affected by other political or
military, or terrorist activities; (vi) the Company becomes involved in any
material disputes with any of its key business partners, suppliers or
customers; (vii) the Company is subjected to any hostile takeover or other
unsolicited attempts to acquire control of the Company; (viii) the Company
is subject to any adverse ruling in any of the pending litigation to which
it is a party; (ix) the Company incurs unanticipated power interruptions or
failures due to electrical circuit failures or inadequate fuel quality
required to effectively operate power generators for the plant or otherwise
or costs or required repairs to the copper floatation plant; or (x) are
associated with the speculative nature of exploration activities, periodic
interruptions to exploration, failure of drilling, processing and mining
equipment, the interpretation of drill results and the estimation of mineral
resources and reserves, changes to exploration and project plans and
parameters and other risks are more fully described in the Company's
Management Discussion and Analysis for the fiscal year ended December 31,
2013, which is incorporated herein by reference. The Company's
forward-looking statements are based on the beliefs, expectations and
opinions of management on the date the statements are made and the Company
assumes no obligation to update such forward-looking statements in the
future, except as required by law. For the reasons set forth above,
investors should not place undue reliance on the Company's forward-looking
statements.
Please see the Company's Annual Information Form for the fiscal year ended
December 31, 2013, and the Company's Management Discussion and Analysis for
the year ended December 31, 2013, for a more complete discussion of the risk
factors associated with our business.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is a Vancouver-based mining company with an operating
mine in Eritrea. Nevsun's 60%-owned Bisha Mine commenced commercial copper
concentrate production in December 2013 and ranks as one of the highest
grade open pit copper mines in the world. Nevsun has a strong balance sheet
and future cash flows to grow shareholder value through exploration at Bisha
and acquisition of additional mining assets.
NEVSUN RESOURCES LTD.
Cliff T. Davis
President & Chief Executive Officer
For further information, contact:
Kin Communications
Tel: 604 684 6730
Toll free 1 866 684 6730
Email: <mailto:NSU_at_kincommunications.com> nsu_at_kincommunications.com
Website: <
http://www.nevsun.com/> www.nevsun.com
Received on Mon Dec 08 2014 - 16:08:16 EST