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Nevsun heeft koper, zink en veel cash

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402 Posts, Pagina: « 1 2 3 4 5 6 ... 8 9 10 11 12 13 14 15 16 17 18 19 20 21 » | Laatste
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seadoc
0
quote:

Jager63 schreef op 10 aug 2017 om 13:42:


[...]
Loop met een verrekijker op.


Die komt dan goed van pas in dit geval :-).

Maar zonder gekheid, als je een beetje geduld en tijd hebt kan er veel goedkomen.
Heb je een stoploss aan de onderkant staan?
seadoc
0
quote:

smith&jones schreef op 10 aug 2017 om 13:40:


[...]

Ah. Mbt eenmalige afschrijving: Overheen gelezen. Dan valt het mee idd.

S&J


Als ie nou eens goed dipt, dan waag ik misschien wel een kansje..
seadoc
0
Blijft zo rond de 2,70 cad. Ik houd me kruit nog even droog, misschien nog een aanvullende daling de komende dagen. Als ze Bisha aan een Chinees kunnen slijten, dan is Timok met de bijkomende cash echt een koopje.
[verwijderd]
0
quote:

seadoc schreef op 10 aug 2017 om 13:58:


[...]

Die komt dan goed van pas in dit geval :-).

Maar zonder gekheid, als je een beetje geduld en tijd hebt kan er veel goedkomen.
Heb je een stoploss aan de onderkant staan?

Vanmiddag gedaan.
smith&jones
0
quote:

seadoc schreef op 10 aug 2017 om 14:00:


[...]

Als ie nou eens goed dipt, dan waag ik misschien wel een kansje..


NSU wordt nu wel erg hard afgestraft. Van de 650M market cap is plm 170M cash.
Ze maken het zichzelf niet makkelijk met dat gedraaikont rond Bisha in de PB's.

S&J.
vegas
0
quote:

DeZwarteRidder schreef op 11 aug 2017 om 15:12:


[...]
Blijkbaar heb je ze op de verkeerde beurs gekocht....


NYSE MKT - Amex CA64156L1013. Verkeerd? ZR waarom?
DeZwarteRidder
0
quote:

vegas schreef op 11 aug 2017 om 15:17:


[...]NYSE MKT - Amex CA64156L1013. Verkeerd? ZR waarom?

Was een grapje, ik koop ze altijd in Canada.
vegas
0
quote:

DeZwarteRidder schreef op 11 aug 2017 om 15:19:


[...]
Was een grapje, ik koop ze altijd in Canada.


Kan ook natuurlijk. 2,2 Pre-Market nu. Vasthouden maar.
seadoc
0
quote:

smith&jones schreef op 11 aug 2017 om 15:07:


[...]

NSU wordt nu wel erg hard afgestraft. Van de 650M market cap is plm 170M cash.
Ze maken het zichzelf niet makkelijk met dat gedraaikont rond Bisha in de PB's.

S&J.


Ik heb een stink bid staan. Is nog niet gegaan. Als ie gaat is het m.i. een koopje en als ie niet gaat, soit, dan zit er ik ook niet mee.
[verwijderd]
0
quote:

DeZwarteRidder schreef op 11 aug 2017 om 15:19:


[...]
Was een grapje, ik koop ze altijd in Canada.

Is dat voordeliger wat de valuta betreft?
Bernard +
0
quote:

DeZwarteRidder schreef op 10 aug 2017 om 11:51:


[...]
Spreiding is en blijft noodzakelijk, alhoewel ik op de IEX behoorlijk veel personen tegenkom, die dat kennelijk niet doen.


Waarom moet ik nu toch opeens denken aan Tullow Oil. Stond op 330p. ZR in jubelstemming: kon zeker naar 500, als het geen 1000 was. Vandaag op 165p: min 50%.
Inzake NSU sabelt u kritische opmerkingen neer. Zakt de koers vervolgens met 20% op kwartaalcijfers, tja .... dan moet je natuurlijk spreiden. Wat een obligaat geroeptoeter!
Volgens mij bent u de omgekeerde BoA/Merryl Linch: zeggen zij verkopen, moet je als belegger kopen. Zegt u kopen, kan je blijkbaar beter verkopen. Heb dus vandaag maar mijn winst verzilverd op bitcoins, NexGen en Galapagos en een extra pluk Nevsun aangeschaft.

Succes, Bernard
seadoc
1
Ridder als contra indicator, mwah dat is misschien ook wat overdreven. Ik denk dat hij best een goed rendement heeft en ik zie ook hele mooie ideeën van hem voorbijkomen.
Alleen jammer dat hij het doordachte commentaar van een specialist als Smith zo neersabelt :-(. Had hij een hoop geld mee kunnen besparen...
DeZwarteRidder
0
quote:

seadoc schreef op 12 aug 2017 om 10:47:


www.miningfeeds.com/2017/08/11/nevsun...

Nevsun reports Q2/2017 loss, writes-down Bisha, delays Timok study
Aug 11, 2017 | Posted by: Nicholas LePan

On Wednesday, Aug. 8, Nevsun Resources Ltd. (T:NSU) reported a loss of $0.15 earnings per share (EPS) for the second quarter of 2017 (all amounts are in U.S. dollars). Revenues were down quarter on quarter (8%) on a decline in realized zinc prices (11%) and zinc concentrate sales (35%), but benefited from copper sales (7.7 million lbs). EPS was impacted by a $70 million, write-down of long term stockpiles and mobile equipment, reflecting a revised mine plan at Bisha from 8 to 4 years. Cash increased to $171 million from $169M in the first quarter of 2017, primarily the result of positive operating cash of $13 million, reduced taxes and a working capital release of $9 million. Zinc production was down by 17% to 43 million lbs on lower throughput, grades and recoveries, and zinc and cash costs were up 1% to $0.92/lb. However, copper production, though minor (5.7 million lbs), was up 36% for the quarter, maintaining cash costs of $1.59/lb.

Management revised production guidance to 190-210 million lbs of zinc, down from 200-230m lbs, while its outlook for copper improved with a guidance of 20-30 million lbs of copper, up from 10-20 million lbs. Revised production guidance reflects the fact that Bisha no longer produces bulk zinc concentrate. In order to improve metal recovery and material movement, the company approved an additional $24 million in capital for Bisha. A larger capital investment would have been required to maintain a longer mine life and could not have been funded by the internal cash flow from Bisha. The Bisha operation now has a reserve mine life to mid-2021, down from approximately eight years at the last reserve estimate.

The company’s main focus is to bring the Timok project into production by 2021. In 2017, the company has spent $14 million on the Upper Zone and has recently started a 10,000-metre drill program to search for additional high grade zones. Milestones achieved to date in 2017 include the completion of all planned infill drilling (30,000 metres) and the advancement of key technical mining, metallurgical and environmental studies. The company noted that it will begin a decline development to reach the ore body, rather than a shaft, in the fourth quarter of 2017.

The company delayed the preliminary feasibility study to the first quarter of 2018 and plans to deliver an update preliminary economic assessment in October, 2017. After the delivery of a feasibility study on either the Upper Zone or the Lower Zone, Freeport McMoran (US:FCX) will increase its ownership in the Lower Zone to 54% and Nevsun will own 100% of the Upper Zone and the remaining 46% of the upper zone.

The negative news has sent the shares in the company down to a year low of $2.67 (CDN), from $3.39 before the second quarter financials were released on Wednesday. These are levels that have not been seen since 2010, and a far cry from its peaks in the seven dollar range back in 2010 when Bisha was moving to production and copper was cresting at $4.50/lb.
DeZwarteRidder
0
Nevsun Resources: short-term outlook questionable, long-term outlook positive

Aug. 11, 2017 8:10 AM ET|71 comments| About: Nevsun Resources Ltd. (NSU)
Peter Arendas
Long only, commodities, research analyst

(1,367 followers)
Summary

The life of the Bisha mine was cut to 4 years.

The Timok PFS was delayed by 2 quarters.

There were some negative changes in the production and cost guidance.

Nevsun's share price has collapsed.

Despite the bad news, the long term potential is still huge.

The share price of Nevsun Resources (NSU) declined by more than 20% early after the market opened on Thursday, as the company announced several negative news items. This time, the negative news was related not only to the Bisha mine that has issues with its recoveries since the start-up of mining of the primary ore. The company has also announced that the Timok pre-feasibility study (PFS) will be delayed by 2 quarters.

According to Peter Kukielski, the new CEO of Nevsun Resources:

To ensure we properly evaluate optimization opportunities and increase the level of front end engineering at Timok, we will now complete the Preliminary Feasibility Study ("PFS") in Q1 2018. We will provide the market with an interim update via an updated Preliminary Economic Assessment ("PEA") in October 2017.
This news is a huge surprise, as the results of the PFS were expected to be released next month. According to the CEO:

We have started introducing more of a project management focus on the project now as opposed to the prior focus which was more definition of the ore body. So we are putting a team into place that is able now to focus on the project management aspects of the project as opposed to the early stage economic assessments. We have put a project controls manager into place.
It is hard to tell whether the delay is a good or a bad signal. Right now, I see three most probable explanations:

The company has identified some major issues that will damage the economics of the project by pushing the CAPEX or AISC higher, or by pushing the production volumes lower. The PFS was postponed in order to buy some more time for finding a solution.
The company has identified some opportunities to improve the economics of the project, but it will take more time, as some parts of the PFS must be changed. The aim of the updated PEA is to mitigate the damages caused by the PFS delay.
There were no major issues or opportunities identified. The management decided to prepare the PFS more precisely so that it can be used as a guide during the early phases of mine development that is expected to start in Q4.
The situation should get a little clearer in October after the updated PEA is released. For now, the management claims that the Timok mine decline development should start in Q4 and that the production is still scheduled for 2021, as the additional time spent on the PFS should lead to shortening of the time needed to complete the FS.

Other negative news is related to the Bisha mine. Only last month, Nevsun reported some improvements in the Bisha operations. However, the things are still worse than expected and the company had to revise its 2017 production guidance. The zinc production guidance was lowered from 200-230,000 lb to 190-210,000 lb or by 7%, while the copper production guidance was risen from 10-20,000 lb to 20-30 million lb or by 66%. The zinc cash cost guidance remained unchanged at $0.7-0.9 but the copper cash cost guidance has worsened notably. It was revised from $0.9-1.1 to $1.55-1.75.

What is even worse, Nevsun has also revised the Bisha mine reserves and mining plan. The management has decided to mine a smaller pit at Bisha. It should lead to some CAPEX cost savings, however, the mine life has decreased by 50%, from 8 years to 4 years. It indicates that the management is not sure whether the metallurgical issues at the Bisha mine can be fully solved. As a result, they decided to cut the capital expenditures, as the saved resources should be more efficiently used at Timok. However, it is possible to speculate, that if the issues are solved sufficiently, or if the copper and zinc prices increase notably, the mine plan could be revised again. Moreover, according to the conference call, the management believes that some of the resources close to the Bisha mine facilities could be converted into reserves and extracted.

The actual Q2 financial results were a little lost in the flood of negative news. Nevsun recorded revenues of $66.1 million, which is 7.7% less than in Q1 2017. The net loss climbed to $70.2 million, compared to net income of $2.9 million recorded in Q1. The loss was caused by a $70 million non-cash write-down of long term stockpiles and mobile equipment. Without this item, Nevsun would record net earnings of $0.2 million. The company ended Q2 with cash & cash equivalents worth $171 million and no debt.

On Thursday, shortly after the markets opened, the share price declined by more than $0.6, hitting a new 7-year low at $2. Shares of the copper-zinc miner are down by more than 30% year-to-date. The market value of the company declined to $640 million and the enterprise value to $470 million. Although the news was disappointing and several important questions have arisen, the company became even more undervalued. The world-class Timok Upper Zone deposit is worth more than the current enterprise value, not to talk about the Timok Lower Zone, the exploration potential in Serbia, the exploration potential in Eritrea and the Bisha mine alone. The series of negative news has damaged the share price notably over the last quarters. However, the potential is still huge and although it may take some time, it will get realized. Although my investment in Nevsun Resources is deep in red numbers, I have no intention to sell my shares. Quite the contrary, I will consider adding to my position, should the share price dip below $2.

Disclosure: I am/we are long NSU.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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