|Bid||4.45 x 2900|
|Ask||4.46 x 40700|
|Day's Range||4.45 - 4.47|
|52 Week Range||1.98 - 4.49|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.25|
The Nevsun directors' circular, among other things, includes a unanimous recommendation from the Nevsun Board of Directors that Nevsun shareholders should tender their shares to the Zijin Offer. The filing and mailing of the Zijin take-over bid circular formally commences the take-over bid and sets an expiry date for the bid of December 28, 2018 unless the Offer is accelerated, extended, or withdrawn. The cash consideration of C$6.00 per share represents a premium of 57% over Nevsun's unaffected closing price of C$3.82 on May 7, 2018, the day Lundin Mining Corporation ("Lundin") first publicly announced its intention to acquire Nevsun.
Lundin made five informal proposals and took a C$1.4 billion bid made directly to shareholders in July, all of which were rejected as inadequate by Nevsun. Lundin, whose bid expires on Nov. 9, said on Thursday that it does not plan to amend any of the terms in its offer. Nevsun is recommending that shareholders accept Zijin's C$6.00 per share cash offer on Wednesday, 26 percent above Lundin's C$4.75 a share cash bid.
Canada's Nevsun Resources Ltd has agreed to a buyout bid worth C$1.86 billion ($1.41 billion) from China's Zijin Mining Group Co, the companies said on Wednesday, in a deal trumping Lundin Mining Corp's earlier hostile offer. Zijin, which also has ventures with Canada's Barrick Gold and Ivanhoe Mines, said it plans to rapidly develop Nevsun's high-grade Timok copper project in Serbia and extend the life of an Eritrean copper and zinc mine. On Friday, Zijin emerged as the top bidder for a 63 percent stake in Serbian's RTB Bor copper complex, near the Timok deposit, after pledging a $1.26 billion investment in the operation.
NEW YORK, Aug. 29, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Cree, ...
Lundin took its all-cash offer of C$4.75 per share directly to Nevsun shareholders on July 26, after its five previous proposals were rejected by the company. Nevsun previously said, Lundin's offer undervalues the miner's Bisha mine in Eritrea and the Timok project and had cited a recent prefeasibility study, which valued the Serbian copper project at $1.82 billion.
Nevsun's Board recommends that shareholders REJECT the Hostile Bid and DO NOT TENDER YOUR SHARES VANCOUVER , Aug. 9, 2018 /CNW/ - Nevsun Resources Ltd . (TSX: NSU) (NYSE AMERICAN: NSU) ("Nevsun" ...
VANCOUVER, Aug. 7, 2018 /CNW/ - Nevsun Resources Ltd. (TSX:NSU.TO - News) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") today announced that it has filed the National Instrument 43-101 Technical Report – Timok Copper-Gold Project, Serbia: Upper Zone Prefeasibility Study and Resource Estimate for the Lower Zone and is available for review under the Company's profile on SEDAR at www.sedar.com, on EDGAR at www.sec.gov and on the Company's website at www.nevsun.com. The Timok Lower Zone deposit, a joint venture with Freeport-McMoRan Exploration Corporation ("Freeport"), is a porphyry copper deposit with inferred mineral resources of approximately 1.7 billion tonnes, grading 0.86% copper and 0.18g/t gold containing 31.5 billion pounds of copper and 9.6 million ounces of gold, at a cutoff grade of 0.38% copper equivalent. The Timok Lower Zone ranks high among undeveloped world porphyry copper deposits in terms of size and grade and benchmarks well against planned and operating block cave mines (see Nevsun's news release dated June 26, 2018).
LONDON, UK / ACCESSWIRE / July 30, 2018/ If you want a free Stock Review on WRD sign up now at www.wallstequities.com/registration. On Friday, July 27, 2018, US markets saw broad based losses with all sectors finishing the trading sessions in red.
NEW YORK, NY / ACCESSWIRE / July 27, 2018 / Nevsun Resources Ltd. (NYSE MKT: NSU ) will be discussing their earnings results in their Q2 Earnings Call to be held on July 27, 2018 at 11:00 AM Eastern Time. ...
VANCOUVER , July 26, 2018 /CNW/ - Nevsun Resources Ltd . (TSX:NSU) (NYSE AMERICAN:NSU) ("Nevsun" or "the Company") is pleased to report its financial results for the three and six months ...
Lundin Mining Corp (Toronto:LUN.TO - News) launched a hostile C$1.4 billion ($1.1 billion) takeover bid for fellow Canadian miner Nevsun Resources Ltd (Toronto:NSU.TO - News) on Thursday, saying it had failed to convince Nevsun's board to strike a friendly deal over the past nine months. In a direct pitch to Nevsun shareholders for its C$4.75 a share offer, cash-rich Lundin said in a circular it became apparent over time that Nevsun management was unlikely to agree to a transaction, despite multiple attempts to address its concerns. "Each time we presented a proposal, the goal post changed," said outgoing Lundin CEO Paul Conibear on a conference call Thursday.
Nevsun shareholders are advised to take no action until the Board of Directors has made a formal recommendation to shareholders. The Offer will remain open for a minimum of 105 days, allowing Nevsun shareholders until November 9, 2018 to respond. The Offer follows an announcement by Lundin on July 16, 2018 of its intention to make an offer for Nevsun.
TORONTO, July 26, 2018 (GLOBE NEWSWIRE) -- (LUN.TO) (Nasdaq Stockholm:LUMI) Lundin Mining Corporation (“Lundin Mining” or the “Company”) announced today that it has formally commenced the offer (the “Offer”) to acquire all of the issued and outstanding common shares (“Nevsun Shares”) of Nevsun Resources Ltd. (“Nevsun”) (NSU.TO) (NSU.TO). The notice and advertisement of the Offer appear in the July 26, 2018 editions of the Globe & Mail and Le Devoir, and the Offer and take-over bid circular (the “Offer and Circular”) and related documents will be filed with the Canadian securities regulators on SEDAR under Nevsun’s profile at www.sedar.com and with the United States Securities and Exchange Commission at www.sec.gov. Under the terms of the offer, Nevsun shareholders will receive C$4.75 in cash for each Nevsun Share tendered to the Offer.
Nevsun's shares soared 14.2 percent on the Toronto Stock Exchange to C$4.80, above Lundin's per share offer of C$4.75. "This latest announcement from Lundin continues to ignore the fundamental value of Nevsun and its assets," Nevsun's Chief Executive Officer Peter Kukielski said in a statement. Lundin's new all-cash bid is about C$100 million lower than the cash-and-stock offer made in May, in partnership with Euro Sun Mining Inc (Toronto:ESM.TO - News).
Nevsun advises shareholders that no formal offer has yet been made, and recommends that shareholders take no action in response to Lundin's announcement. Said Peter Kukielski, Nevsun's President & Chief Executive Officer: "This latest announcement from Lundin continues to ignore the fundamental value of Nevsun and its assets.
Lundin offered C$4.75 per share, a premium of 12.8 percent to Nevsun's closing price of C$4.21 on Monday. Cash-rich Lundin has been eyeing Nevsun's large high-grade Timok copper project in Serbia and its Bisha copper and zinc mine in Eritrea, in a partnership with Euro Sun Mining Inc. Together the two companies proposed to buy Nevsun outright in May for C$1.5 billion, but were rejected by the company saying the price was too low and the deal had a "problematic structure".
VANCOUVER , July 5, 2018 /CNW/ - Nevsun Resources Ltd. (TSX: NSU) (NYSE AMERICAN: NSU) ("Nevsun" or the "Company") announces the release of its 2017 Corporate Social Responsibility ...