Nevsun Resources Ltd. (NSU) Secures $235M Bisha Purchase Arrangement, Strengthening Position in African Gold and Silver Production
Nevsun Resources, the rapidly growing mineral producer currently focused on aggressively expanding its resource base in and around its massive Bisha Mine Project in Eritrea, East Africa, reported finalization of arrangements with the State over purchase of 30% of the mine by Enamco (the Eritrean National Mining Corporation). President of NSU, Cliff Davis, commented on how excellent a partner Enamco has been in Bisha thus far, contributing significant financial and logistical support, ultimately culminating in this latest deal which has an agreed-upon price tag of $253M. The payment is slated to be settled via after tax cash flow from the…