Wednesday
Nov 19th
| Nevsun clears financial roadblock to mining in Eritrea |
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| Written by Administrator | |
| Tuesday, 30 October 2007 | |
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Nevsun Resources [AMEX:NSU; TSX:NSU] announced it has reached a financial deal with the Eritrean government for its Bisha gold mine, getting one step closer to obtaining a mining licence.
According to the deal, Eritrea will buy 30% of Bisha in addition to its 10% free carried interest, bringing its stake to 40% total. If the deal is approved by Nevsun shareholders, the company will then be able to apply for a mining licence.
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| Last Updated ( Tuesday, 30 October 2007 ) |
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