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@racker Nevsun Chief Legal Officer Joseph Giuffre buys 18,500 $NSU shares at $3.51 Feb 27: SEDI:NSU in trades worth nearly $65,000.
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@Wannabeinvestor Bought some of this dog today. If they cannot sort out Bisha, how long until they will want to flip Timok?
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@martin @wannabeinvestor I see much greater value in Timok right now than Bisha. Nevsun paid about $0.5B for Timok during a copper bear market 8 months ago. Now that copper is more bouyant, I think Timok alone is worth mcuh of the market cap of Nevsun which is about $1B. Timok has good exploration upside and I can't see Nevsun flipping its best asset. I suspect Bisha problems will be solved, even if it takes some more capital investment. Bisha also has exploration upside. I don't currently hold $NSU, but would be tempted if the price got much lower.
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@racker NevSun $NSU #RickRule's top pick on BNN. Oversold, met problems will get resolved, Timok is Tier 1, the 1 year outlook is good, the 5 year outlook is fantastic... Well funded and generating free-cash.
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@teevee @racker, any idea of how much $NSU Rick Rule wants to unload?
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wannabeinvestor @Martin, that was my point. Timok is Tier 1. Unless $NSU can sort out production issues at Bisha they may be 'forced' to sell Timok at a great price and use the funds to bring their other Eritrean assets into production. Either way I think the recent sell-off has derisked $NSU SP sufficiently for me so I have been buying. Their stake in Timok alone is worth current EV.
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@racker The case for — and against — an ombudsperson to resolve mining disputes http://business.financialpost.com/business/the-case-for-and-against-an-ombudsperson-to-resolve-mining-disputes $GBU $NSU
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@Wannabeinvestor @racker, I think he's got a point re $NSU although not sure it's definitely $LUN. been bottom-fishing for $NSU shares here, it does look like one pays for Timok and gets the rest of the business for free
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SEDI_bot Nevsun Resources Ltd. $NSU just filed 2 reports. View full report: SEDI:NSU
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@FundamentalAnalysis @ocotilloredux do you think the company can sort out Bisha. I.e its a question of when not if....not concerned with time...and additionally will the company be able to extract gold from pyrrhite successfully re: Timok so that deposit economics work as expected? Thanks
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@ocotilloredux Not sure about the gold extraction. I thought they were shipping the pyrite sands to a third party for processing and have successfully done so already. I am not a metallurgist so I can't predict the outcome on the copper/zinc concentrates issue. Making no progress in Q4 is not a good sign. The bigger issue no one is talking about is that the mine is down to about 3-4 years of ore since they did not do the waste stripping for Phase 9. I imagine they will eventually commit to going underground here but only if they resolve the met. issues first. But the point is, site FCF will be very constrained due to the metallurgy and the eventual costs of building the underground portion. And I can't see the underground production rate being much above 1-1.2 MTPA which will only keep the mill half full.
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@racker PDAC 2017: Sprott’s Rick Rule likes prospect generators - The Northern Miner http://www.northernminer.com/news/pdac-2017-sprotts-rick-rule-likes-prospect-generators/1003784548 $EMX $RRI $NSU $IVN
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@Newton Tough situation for $NSU there. Makes me think of people who stayed in through Reservoir acquisition. I floated the idea of holding puts on NSU to some of these people last summer. https://www.m-x.ca/nego_cotes_en.php?symbol=NSU*
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SEDI_bot Nevsun Resources Ltd. $NSU just filed 2 reports. View full report: SEDI:NSU
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@Newton Some calls on $NSU might be interesting here.
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@soulMiner Does anyone on this board know what the heck is going on with Nevsun right now? I would have thought management would release some news either about Bisha or progress at Timok. They have done nothing to help the battered SP.
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@AldenTyrell @soulMiner Everyone on ceo.ca knew what was coming thanks to @ocotilloredux ;)
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@soulMiner @AldenTyrellI wasn't in the stock prior to divi cut. Did buy a small position on smash down on the basis that the assets they have are surely much more valuable than the current SP. Timok is a quality asset the likes of Lundin have tried hard to find and buy. I know there are metallurgical problems at Bisha although these may be solved. I just find it hard to believe that the SP can stay down here for too long with an asset like Timok.
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anonymous No offence to @ocotilloredux it is great to share information but the information that was provided was I think the same information that was publicly provided by a news release by NSU in mid-January. I do have a question that maybe someone can clear up. The metallurgy issue was known in the mid January operation update, that was followed by a few week period were NSU traded as high as $4.38cdn, and was consistently over $4. The only thing that I think changed in February was the dividend reduction. Does the recent drop make sense if it is only the dividend that was new information or am I missing something else that was new? From the analyst updates it seems they still like NSU at higher prices than it is trading at today.
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@ocotilloredux anonymous- The Feb. 23rd guidance states that they expect the bad metallurgy to be with them throughout 2017. This forced the analysts to adjust their models.
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@soulMiner Thanks @ocotilloredux. Whats your opinion in taking a position in the latter half of the year. Provided the metallurgy is resolved at Bisha and the pre-feasability study on the UZ in Timok (due in Sept/Oct) is positive, I would have thought there is very good value in the SP at these levels?
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@ocotilloredux I would have to look at market cap in relation to Timok capex, output and timing. Also, we need some indication on how they plan to extend the mine life at Bisha and show improvement on metallurgy. So the ball is in their court to provide answers to all those questions before I look at them again.
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@newswire Nevsun Delivers Substantial Resource Growth at Bisha from 2016 Drilling @newswire/nevsun-delivers-substantial-resource-growth-at-bisha $NSU $NSU $NSU $NSU
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@Newton Thanks @ocotilloredux
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@Excelsior #RickRule Pre #PDAC 2017 #Mining Stocks on #BNN Market Call MARCH 3, 2017 Rick Rule covers a great deal of ground in this BNN #Video interview (from a few weeks back) on some of the more popular mining companies: $IVN Ivanhoe, $ANF Anfield Gold, $KL Kirkland Lake, $CGP Cornerstone Capital & $SOLG.L SolGold, $PVG Pretium Resources, $NAK $NDM Northern Dynasty, the XAU Index, $DDC Dominion Diamond, Reservoir minerals/ $NSU Nevsun, $HL Hecla Mining, $PAAS Pan American Silver, the #Silver market fundamentals, $CDB Cordoba, $SLW Silver Wheaton, $BGM Barkerville Goldmine, $VIT Victoria Gold, $DPM Dundee Precious Metals, $LUC Lucara Diamond, investing in #Gold bullion, Off balancesheet liabilities and #debt of the US Government, $TV Trevali Mining, $NXE Nexgen Energy, $ALS Altius Minerals, $BTG B2Gold http://www.pennyminingstocks.com/rick-rule-pre-pdac-2017-mining-stocks-bnn-market-call/
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@ocotilloredux A bit of the "dirty laundry" that I did not mention in my module on Africa nor in any posts above is that when Nevsun does commit to going underground at Bisha and the satellite deposits is the high potential for sulphide dust explosions underground. Ore that oxidizes quickly due to the pyrite and/or pyrrhotite is highly susceptible to this problem. Similar to coal dust explosions where CO is produced, sulphide dust explosions creates sulphur dioxide. I'll pass the following document on to Nevsun management if and when they do make the commitment to go underground .... http://www.dmp.wa.gov.au/Documents/Safety/MSH_G_SafeManagementOfUGCombustibleSulphideDust.pdf I was involved in the writing of that document with Dr. Roger Enright in Australia because we had a fatality at the Geco Mine during my time there and we had similar issues with orebody #7 at the Hilton Mine in Mt. Isa. Clearing the mine of workers before blasting and allowing the air to clear is the right answer but this is not obvious to new underground mines.
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@ocotilloredux The Elura (Endeavour) mine in NSW used to have some huge dust explosions that would actually rain down hematite dust on the cars in the parking lot coming from all the ventilation raises and shaft. Toyota Landcruisers underground would be blown 75 m down the tunnel. One of the base metal underground mining's dirty secrets.
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@ocotilloredux (At Geco, we had permission from the Ministry of Labour, to keep three diamond drillers underground during blasting since they were over a mile away from the productio nmining, but the explosion was so huge it backed up the entire mines airflow. The young helper that panicked ran when smelling the sulphur dioxide and dropped dead a few paces later, the two older drillers knew enough to open the compressed air line fully and throw their "oilers" (rain clothes) over the line and breathe this air until the mine rescue crew got to them. You now know why we tend to retire early from this business, too many events like this over the years. Nevertheless, the Chief Mine Engineer was charged with manslaughter.)
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@newswire Nevsun Announces Q1 2017 Financial Results Release Date @newswire/nevsun-announces-q1-2017-financial-results-release $NSU $NSU
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@newswire Nevsun Extends Harena 150 Metres Beyond Current Resource and Identifies New Regional Targets from VTEM Survey @newswire/nevsun-extends-harena-150-metres-beyond-current-resource $NSU $NSU
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@PSJ NSU takeover likely a done deal with business terms agreed to and lawyers just drafting fine print. Lundin.
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@soulMiner @PSJ . Where did u read that?
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@drezinho Encouraging extension of polymet, zinc-heavy zone. "The new drilling demonstrates that the already sizeable Harena resource extends 150 metres beyond its currently modelled limits, further enhancing the potential for underground mining. We are particularly encouraged by the increasing copper content which indicates the mineralizing system is strengthening." $NSU Between takeover rumors, positive drilling news and a highly oversold SP (Lundin short?) this has become an intriguing spec.
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wannabeinvestor @PSJ, any proof to go with that statement?
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@drezinho @wannabeinvestor I don't think we're going to get proof. However, @PSJ 's call on the $RMC / $NSU acquisition was timely. https://ceo.ca/@psj
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@drezinho Some 7 hours before it was posted by Reuters and PRN.
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wannabeinvestor @drezinho, thanks. wow. so let's wait to see if this time @PSJ is correct.
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@soulMiner Scott Trebilcock's presentation for Nevsun at the European Gold Forum on April 4th 2017 http://www.europeangoldforum.org/egf17/company-webcast/NSU:CN/
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@Excelsior $EMX Eurasian Minerals could have a potential #Copper candidate in the works under their umbrella on their JV with IG Copper LLC as an example: "Malmyzh is a grassroots discovery that has rapidly developed into a world-class district-scale exploration project." http://www.eurasianminerals.com/s/strategic-investments.asp?ReportID=669933 ....Not to mention that they also have exposure to the Timok complex in Serbia from when they partnered with $RMC before $NSU took them over. Serbian Royalty Properties http://www.eurasianminerals.com/s/serbia.asp?ReportID=620563 _____________________________________________ #ProspectGenerator #Royalties #MIF January 2017: $EMX Eurasian Minerals Inc   - #CorporatePresentation  #Video https://www.youtube.com/watch?v=0-qN6su2mHc+ >> I also am curious about a few of the #Zinc projects in Eurasian portfolio (even though they are more known for #Gold and #Copper projects): * Gumsberg - Sweden  "EMX's 2016 reconnaissance diamond drilling targeted both exhalative-type lead-zinc-silver mineralization and replacement style zinc-lead mineralization developed in skarn and altered volcanic rocks." http://www.eurasianminerals.com/s/sweden.asp?ReportID=620449 * Balya - Turkey  "...drill programs have resulted in 190 core holes totaling more than 34,000 meters. This drilling has expanded the lead-zinc-silver mineralization in the Hastanetepe zone, and confirmed the continuity and tenor of the mineralization with in-fill holes at 25 to 50 meter spacing." http://www.eurasianminerals.com/s/turkey.asp?ReportID=619890   * Hardshell Skarn - Arizona "The Hardshell Skarn Project is located approximately 75 kilometers southeast of Tucson, Arizona within the Patagonia Mountains and adjacent to $AZ Arizona Mining's advancing Hermosa project (Zinc/Silver/Lead). The Project is comprised of 16 unpatented federal lode mining claims totaling approximately 279 acres and lies between the Sunnyside porphyry copper system (Regal Resources Inc.) to the west, the Hermosa project (AZ Minerals) to the east, and the historic Trench mine to the north." http://www.eurasianminerals.com/s/arizona-porphyries.asp?ReportID=744640
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SEDI_bot Nevsun Resources Ltd. $NSU just filed 22 reports. View full report: SEDI:NSU
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anonymous Lundin has completed their sale and now has $1.136B in cash available to buy Nevsun. Both companies have conference calls scheduled for next week to announce earnings and any other updates. If Nevsun is willing to sell, and Lundin wants to buy, the next seven days seem to be ideal timing.
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@newswire Nevsun Completes Timok Upper Zone Infill Drilling and Provides Project Update @newswire/nevsun-completes-timok-upper-zone-infill-drilling-and $NSU $NSU #news/mining
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@Wannabeinvestor So $LUN is cashed up now. When will they jump at $NSU?
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@fl @wannabeinvestor Thought about that but $lun just finished eliminating their geopolitical risk. Where do you guys figure Serbia falls on that scale? Better than DRC no doubt. Have to imagine they wouldn't be overly interested in Eritrea but that is a minor part of $nsu at this point.
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@Wannabeinvestor I don't think Serbia is any worse than Portugal as a jurisdiction in which to do business. The Lundins also have a Zn asset in Poland, so they should have a pretty good idea about doing business in the CEE.
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@kipkeen Got some details on $NSU plans to look for more copper/gold in Serbia today from Nevsun's Scott Trebilcock. Brief here, http://www.snl.com/web/client?auth=inherit#news/article?id=40393133&cdid=A-40393133-12851, but more details in interview (audio) https://drive.google.com/file/d/0B95jk2_3SNH_OEVXSXp4eW80cUE/view?usp=sharing will be interesting to see them apply their geophys method on the properties and see if it bears more fruit.
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@ChrisCringle FYI you first link was broken @kipkeen
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@newswire S&P Dow Jones Indices Announces Changes to the S&P/TSX Canadian Indices @newswire/sp-dow-jones-indices-announces-changes-to-the-sptsx-4d2c8 $NSU #news/mining
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