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Gold/Mining/Energy : NEVSUN
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To: Bat Man who wrote (149)5/17/2000 9:16:00 AM
From: russwinter   of 205
 
They still had US3 million at end of 1999. Most of their cash has been spent on drilling and studies on Tabakato, which is now an advanced stage project. They should have a cash flow from the royalty of Kubi coming in. How much at present I'm not exactly sure.

As to why the stock would sell off below 40 cents after reporting wide intercepts of 1/2 ounce per ton material I haven't a clue. Keep in mind that Semafo's Segala project is just a few clicks away. The thinking has always been that Tabakato/Segala combined could be a major mining operation. Semafo and it's partner Managem (Morroco's largest conglomerate) have announced a $100 million West Africa acquistion program.

@ 40 cents, NSU market cap after subtracting cash is a mere US 3.6 million, so Tabakato alone sells for less than $2 an ounce for indicated and inferred material (and that's before the latest drilling round).
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