Nevsun Resources - Nearer to Production

By Edison Investment Research, PRNE
Wednesday, July 14, 2010

Research Report From Edison Investment Research

LONDON, July 15, 2010 - Nevsun Resources has announced that its Bisha Au-Ag-Cu-Zn mine remains
on-track to enter production in early 2011. Construction is progressing well,
and Bisha should move into the commissioning stage early in the fourth
quarter this year. Commissioning will take 60 days, after which commercial
production should be achieved by end Q111. Procurement is now 95% complete,
and the company is confident its end June 2010 cash position of US$83m is
sufficient to meet the remaining requirements. Bisha should achieve
quarterly production of 100koz gold during its gold-rich mining phase,
at a cash cost of US$250/oz.

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This report analyses Nevsun Resources, which is developing the Bisha
Au-Ag-Cu-Zn volcanic massive sulphide deposit in western Eritrea. The company
expects production from the project in 2011. Nevsun is debt free.

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