Revenue Update on Nevsun Resources (USA)(NYSEMKT:NSU)

Nevsun Resources (USA)(NYSEMKT:NSU) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $79.20M. Analysts estimated a revenue of $40.00M. Earnings per share were $0.04. Analysts had estimated an EPS of $0.01.

Nevsun Resources (USA) (NSU) shares turned negative on Thursdays trading session with the shares closing down -0.06 points or -1.81% at a volume of 14,94,334. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.35. The peak price level was also seen at $3.35 while the days lowest was $3.25. Finally the shares closed at $3.25. The 52-week high of the shares is $3.8 while the 52-week low is $2.27. According to the latest information available, the market cap of the company is $974 M.

Nevsun Resources Ltd. (Nevsun) is engaged in the acquisition exploration development and operation of mineral property interests. The Company’s principal mining operation is the Bisha Mine and the Company’s principal mineral property is the Bisha property which is owned by Bisha Mining Share Company (BMSC). The Company’s wholly owned subsidiaries include Nevsun (Barbados) Holdings Ltd. Nevsun Africa (Barbados) Ltd. and Nevsun Resources (Eritrea) Ltd. The Company has 60% interest in BMSC. Bisha is a volcanogenic massive sulphide (VMS) deposit located 150 kilometers west of Asmara Eritrea East Africa. The Bisha mine hosts a gold copper and zinc deposit and the overall Bisha district includes satellite VMS deposits known as Harena Northwest and Hambok. The Bisha Main deposit is located within the Bisha Mining License and the Harena satellite deposit lies in a separate mining license 6 kilometers south. Bisha Main and Harena form 100% of the mineral reserves for Bisha.

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