2012 Press Releases- Nevsun Declares Semi-Annual Dividend of US$0.05 Per
Share and Resignation of Director
November 15, 2012
<
http://www.nevsun.com/> Nevsun Resources Ltd. (TSX:NSU / NYSE MKT: NSU /
the "Company") is pleased to advise that its Board of Directors has declared
a semi-annual cash dividend of US$0.05 per common share (US$0.10 per common
share annually). The dividend is payable on January 15, 2013 to
shareholders of record as of the close of business on December 31, 2012.
The Company first established a dividend policy in May 2011, soon after
achieving commercial production from its Bisha mining operation in Eritrea.
This is the fourth dividend payment under the Company's progressive dividend
policy.
"The dividend policy confirms our focus on generating cash flow from
operations. Nevsun has a strong balance sheet and is very well positioned
to grow and provide a long-term dividend return to shareholders", said Cliff
Davis, CEO.
This dividend qualifies as an 'eligible dividend' for Canadian income tax
purposes.
Resignation of Director
The Company also advises that Anthony Ferguson has resigned from the Board
of Directors to concentrate his efforts on other business interests. The
Nevsun Board thanks Mr. Ferguson for his contributions and wishes him well
in his endeavors.
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 gold production in
February 2011 and is scheduled to transition to copper/gold production in
2013. Management expects the Bisha Mine will rank as one of the highest
grade open pit base metal deposits in the world.
Forward Looking Statements: The above contains forward-looking statements
regarding future cash flow, the growth potential of the company and future
dividend payments. 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
about the future and are inherently uncertain, and 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, those
described in the Management Discussion and Analysis of the Company. 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. For the reasons set forth above, investors should not place
undue reliance on forward-looking statements.
Cliff T. Davis
President & Chief Executive Officer
For further information, please 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 Thu Nov 15 2012 - 21:32:16 EST
