VANCOUVER – Nevsun Resources Ltd. (TSX:NSU) reported Monday a third-quarter profit of US$ 89.2 million, reversing a year-ago loss of $ 1.3 million when the gold miner had yet to record any revenue from production.
Revenues came in at $ 185 million on production of 108,600 ounces of gold at an average realized price per ounce sold of $ 1,715.
Nevsun, which operates the Bisha Mine in Eritrea, said its earnings amounted to 27 cents per share. In the second quarter, net income was $ 60.6 million on $ 134.7 million in revenue.
The Bisha mine began commercial production in late February.
Local news from metronews.ca/vancouver
About The Reporter
