webmaster
© Copyright DEHAI-Eritrea OnLine, 1993-2011
All rights reserved
From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed May 18 2011 - 19:27:39 EDT
Nevsun Declares Inaugural Semi-Annual Dividend
May 18, 2011
<http://www.nevsun.com/> Nevsun Resources Ltd. (
<http://www.nevsun.com/investors/quotes/> TSX:NSU / NYSE Amex:NSU) is
pleased to announce that the Company's Board of Directors has approved a
semi-annual cash dividend of US$0.03 cents per common share (US$0.06 per
common share annually). The dividend is payable on July 15, 2011 to
shareholders of record as of the start of business on June 30, 2011.
"The successful startup of the high grade, low cost Bisha mine is the start
of significant cash flow for the Company. We are focused on significant
internal reserve expansion at Bisha, as we strive to double our reserves
this year, while also reviewing additional opportunities for Nevsun." said
Cliff Davis, Chief Executive Officer. "With $103 million cash at quarter end
and significant ongoing cash flow, Nevsun is well positioned to fund this
growth and provide a dividend return to our shareholders."
This dividend qualifies as an 'eligible dividend' for Canadian income tax
purposes.
Forward Looking Statements: The above contains forward-looking statements
regarding future dividend payments, resource/reserve potential at Bisha and
ongoing cash flow. 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, other than required by law. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements.
NEVSUN RESOURCES LTD.
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:ir@kincommunications.com> ir@kincommunications.com
Website: <http://www.nevsun.com/> www.nevsun.com
----[This List to be used for Eritrea Related News Only]----