Nevsun Resources (NYSE Amex: NSU) Secures Sales Contracts

Nevsun Resources Ltd. (NYSE Amex:NSU) (TSX:NSU) recently announced that its Bisha Project has entered into metal sales contracts for its future gold and copper production at the Bisha Mine in Eritrea, Africa. Pricing for all metals will be fixed at spot rates at the time of delivery.

Get Rich Penny Stocks is a leading financial publication that is pleased to alert investors of stocks on the move.

Sign Up for our Free Stock Newsletter

The Bisha Mine is expected to begin production in the fall of 2010, with a projected 10 year mine life. Bisha's gold will be refined in Switzerland and Canada by two major international companies while the copper concentrate will be shipped to major smelters in Europe and India. Metal production within the first two years is estimated at approximately 900,000 ounces of payable gold, followed by over 500,000,000 pounds of payable copper in years 3-5, plus in years 5-10 an additional 1 billion pounds of payable zinc and 200,000,000 pounds of copper. As a result of very high grade gold ore, the expected $200 per ounce operating costs are much lower than industry averages and accordingly the mine will generate significant cash flow for the Company and the Government of Eritrea. The resulting cash flow should enable Nevsun to quickly pay off project debt, allow for mine expansion and provide significant returns to shareholders.

Nevsun considers the metal sales contracts as a milestone and as another vote of confidence in the Project and the country of Eritrea. The Eritrean Government has been very supportive of the Bisha economic development and has been a strong partner, both financially and logistically. Nevsun has hired Kin Communications to provide corporate communications and investor relations services. Kin is located in Vancouver and will be in continuous contact with Nevsun's management, shareholders and media to further communicate the corporate objectives of Nevsun Resources Ltd.

Sign up for the Free GetRichPennyStocks Newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.

About Us

GetRichPennyStocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that could be on the brink of a breakout. To feature a company on our web site please contact us at the email listed below.