On Tuesday, Shares of Nevsun Resources Ltd. (NYSEMKT:NSU)lost-5.82% to $3.3716. The share price is trading in a range of 3.37 - 3.5185 (Price in Dollars). The stock exchanged hands with 297,348shares contrast to its average daily volume of 356,156 shares. Nevsun Resourcesis happy to declare that in connection with the projected combination agreement between Nevsun and Reservoir Minerals Inc., as declared on April 24, 2016, Reservoir has closed the right of first offer with Freeport International Holding (BVI) Inc. on the Timok Copper-Gold Project. Closing the ROFO consolidates 100% ownership of the Upper Zone with Reservoir. Reservoir became the operator on the Timok Project concurrent with the exercise of the ROFO. Closing the US$135 million ROFO is the first step in the formerly declared combination of Nevsun and Reservoir.
During the most recent trading day, the stock’s price shifted up50.26percent from its 52-week-low while18.71percentlower from its 52-week high. Nevsun has reached a secured loan arrangement with Reservoir to provide a further US$850,000 to Reservoir to fund the May 2016 operating expenses at the Timok Project. The indebtedness will be secured by a cash collateral agreement on customary lending terms. Nevsun will provide further updates on the 2016 work program at the Timok Copper Project after the key transaction meetings of operatorship with Freeport are accomplished later this month.
The share price of Nevsun Resources Ltd. (NYSEMKT:NSU) declined5.88percent for the year. YTD, the current share price of the stock is above33.70percent. The company holds earnings per share (EPS) of $0.11for the twelve months.
