Jr. Daily: Nevsun continues deal-hunt, Tahoe's final pre-commercial quarter
& more
Author: Kip Keen
Posted: Friday , 14 Mar 2014
HALIFAX, NS (MINEWEB) - In a conference call yesterday *Nevsun
Resources' *(TSX;
NYSE:NSU) Cliff Davis reiterated that the company - which has working
capital of around $420 million - continued to look at deals. He noted dual
"risks" of Nevsun's cash position; that it made it a target for takeover
and that it made possible for unwise acquisitions. So, on the latter point,
Davis noted Nevsun had yet to pull the trigger on an acquisition and that
it would only do so on an asset that was a good fit, the other side of the
coin to said risk. To watch for in coming months in terms of major capital
outlays for Nevsun is an update on the cost to build a zinc circuit at
Bisha. Conceivably it could fund it from coming cashflow - Nevsun expects
to produce about 200 million pounds copper this year - leaving it
substantial deal-making cash.
Setting the stage for commercial production, now ongoing since January 1,
2014,* Tahoe Resources* (TSX:THO; NYSE: TAHO) outlinedQ4 2013 results from
the Escobal<
http://www.marketwired.com/press-release/tahoe-reports-2013-results-tsx-tho-1888699.htm>
silver
mine in Guatemala. To the end of December in the fourth quarter Tahoe
milled 159,200 _at_ 483 g/t silver, which was "slightly better" than expected,
it said. It outlined 262,000 tonnes mill feed fully developed at year end
and five years worth with primary development. Tahoe produced 2 million
ounces silver in concentrate during the quarter and this year aims to
produce between 18 to 21 million ounces silver.
In a resource update, *McEwen Mining* (TSX; NYSE: MUX) noted that gold and
silver reserves at its 49-percent owned San Jose mine in Argentina
increased both increased by 12
percent<
http://finance.yahoo.com/news/mcewen-mining-announces-updated-estimate-203000859.html>,
thereby more than replacing production. Proven and probable reserves are
1.8 million tonnes _at_ 7.03 g/t Au and 515 g/t Ag.
Source:
http://www.mineweb.com/mineweb/content/en/mineweb-exploration?oid=232975&sn=Detail
Received on Sun Mar 16 2014 - 13:02:19 EDT