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SEDI_bot Nevsun Resources Ltd. $NSU just filed 1 reports. View full report: SEDI:NSU
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@ocotilloredux @theGalvanizer My experience over the years means I listen to absolutely nothing BMO has to say. They are some of the worst, conflicted analysts going. I even recall going to an analysts dinner in Saskatoon where the BMO sell side analyst did not realize I was taking the piss out of him for some of his calls while the Jarislowsky Fraser buy side analyst was pissing himself laughing since he was smart enough to catch on. I have all the time in the world for TD's Greg Barnes though.
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@DJS Thanks so much for the heads up, @ocotilloredux! I owned $NSU until mid-last year when I sold it for a good profit to redeploy the proceeds into opportunities with more upside. I was thinking hard about getting back in given its recent drop and just would never have suspected that they had not been able to make any Cu concentrate last quarter. Plus, all seemed normal with Brent Cook and Gwen Preston continuing to recommend $NSU. As you said, I would have thought that this would have been identified by a decent analyst out there, and at a minimum would constitute a "fatal flaw" of the type Brent keeps reminding us that he is the best at finding... To me, this is the latest confirmation that the quality of information available on CEO.ca is better than the best newsletters and analysts out there combined!
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@ocotilloredux @DJS If they can't get their act together at Bisha, the auditors may be after them shortly to take a writedown.
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@greg @ocotilloredux;@DJS; I was fortunate that my broker gave me a heads up to sell 2 weeks ago for the exact reasons discussed about the zinc con. Thanks for bringing it up, hope your posts help others.
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SEDI_bot Nevsun Resources Ltd. $NSU just filed 1 reports. View full report: SEDI:NSU
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SEDI_bot Nevsun Resources Ltd. $NSU just filed 1 reports. View full report: SEDI:NSU
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@Goldfinger Lots of mining companies report quarterly earnings next week, including Newmont Mining $NEM on Tuesday, Hudbay Minerals $HBM and Iamgold $IAG on Wednesday, Eldorado Gold $ELD and Nevsun Resources $NSU on Thurdsay, among many others. $gold
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@MiningBookGuy Metal Riches of the Western Tethyan Belt http://www.pdac.ca/convention/programming/presentation-reception-rooms/sessions/presentation-reception-rooms/metal-riches-of-the-western-tethyan-belt #events #PDAC #PDAC2017 #PDAC17 Sunday, March 5, 2017 8:00 AM - 12:00 PM With the advent of modern exploration in Eastern Europe, Turkey and the former Soviet Union over the past two decades, the western Tethys has emerged as a province remarkably endowed with copper and gold, as well as lithium, borates, and nickel. Major discoveries have occurred in outcropping traditionally unrecognized deposit types and new districts, as well as in concealed, blind and sub-cropping but atypical deposits within long-recognized districts. This session will focus on the western segment of the #TethyanBelt, bringing together companies active in the region and country representatives to discuss the metal wealth of the region and respective business climates. The session is hosted by Euromax Resources Ltd., COO Pat Forward, with an opening talk on the regional metallogeny provided by Mac Canby, Vice President, Eurasia and Africa exploration at Freeport-McMoRan Exploration Corporation. Participating companies include Dundee Precious Metals Inc., Euromax Resources Ltd., Mariana Resources Ltd., Mundoro Capital Inc., Nevsun Resources Ltd. $EOX $FCX $DPM $MARL $MARL.L $MUN $NSU #Tethyan #WesternTethyan #TethyanBelt #EasternEurope #Serbia #Bulgaria #Romania #Macedonia #Greece #Turkey #mbgtrends #index
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from #tethyan,
@newswire Nevsun Announces 2016 Results; Provides 2017 Outlook and Redeploys $120 Million to Fund Timok @newswire/nevsun-announces-2016-results-provides-2017-outlook $NSU $NSU
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@RocketRed 2017-02-23 19:13 $NSU News Release Nevsun earns $31.1M (U.S.) in 2016, lowers dividend
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wannabeinvestor @Ocotilloredux, you were spot on re $NSU. I'd like buy a big chunk of this just because of Timok, but I'd like it to sell off to levels where it opened this AM.
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@TheGalvanizer Canaccord Morning Coffee – Mon. Feb. 27, 2017 – #TSX #MARIJUANA #BUFFETT $AIF $ALS $CFW $CRZ $FFH $I $NAL $NSU http://ow.ly/JCXc309nNjj
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@newswire Nevsun Reports Further High and Ultra-High-Grade Upper Zone Drill Results at Timok @newswire/nevsun-reports-further-high-and-ultra-high-grade-upper $NSU $NSU Drilling continues to confirm continuity and the high-grade nature of the Upper Zone
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@newswire Nevsun Reports Further High and Ultra-High-Grade Upper Zone Drill Results at Timok @newswire/nevsun-reports-further-high-and-ultra-high-grade-upper-b5258 $NSU $NSU $NSU
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@ocotilloredux I found a few minutes today to go through the latest $nsu financials for 2016. They did not break out Q4 in the tables but if you subtract the results to Q3 from the annual results, the company had a net loss of $11M in Q4 before taxes. There was one very brief paragraph spelling out a bit of this but not the full story. I was a bit disgusted actually going through the MD and A and financials since the transparency for Q4 was very poor. They destroyed a bit of goodwill with that reporting. I guess this explains the management and board changes recently. #zinc ~zinc
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@ocotilloredux I found a few minutes today to go through the latest $nsu financials for 2016. They did not break out Q4 in the tables but if you subtract the results to Q3 from the annual results, the company had a net loss of $11M in Q4 before taxes. There was one very brief paragraph spelling out a bit of this but not the full story. I was a bit disgusted actually going through the MD and A and financials since the transparency for Q4 was very poor. They destroyed a bit of goodwill with that reporting. I guess this explains the management and board changes recently. #zinc ~zinc
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from @ocotilloredux,
SEDI_bot Nevsun Resources Ltd. $NSU just filed 1 reports. View full report: SEDI:NSU
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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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from #lun,
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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