NEVSUN Message Board - Msg: 12164747

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Gold/Mining/Energy : NEVSUN

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To: tomi who wrote ()	12/2/1999 9:10:00 AM
From: russwinter	Read Replies (1) of 205

What else is there for NSU to do? Their Kubi project (Ghana) is set up as a royalty collector ($15 an oz plus 20% of uplift over $325), and Tabakoto in Mali with 1,877,000 indicated and inferred ounce is at an advanced stage. The plan is a high grade operation with $200 cash and capital cost. NSU at 50 cents CDN has a mkt cap of 8.3 million (US) minus $3.8 million US cash= $4.5 net mkt cap. So if we analyze just Tabakoto alone, the exploration side of this equation is capitalized at $2 1/2 an ounce. I don't think so. Should be much higher for this deposit. It's time to maximize shareholder value. One likely purchaser is the new Semafo/Managem partnership (the later is the mining subsidiary of Morocco's largest conglomerate). They have publicly announced an aggressive acquisition program of up to $100 million, targeting West Africa. At these prices, that buys a lot in this neck of the woods. In quick order they have already picked up the Segala project immediately adjacent to Tabakota, and the Samira Hill project also in Mali. Nevsun has got to be in their sights.

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