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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (1183)	1/23/2004 1:26:19 AM
From: Andrew	Respond to of 29622

yes the chart is beat up, lost half its value and dropped below the 200 day MA today. Just recently they closed a $68 million financing with a 4 month hold @ 6.80 per unit. Thats some fairly serious money so I think this continues to be a good risk/reward scenario. Earth shaking stupendo news? Well I think the drill results are pretty decent BWTFDIK <G> I dont really like to tout small cap stuff myself, this is just the way I see it, besides I've owed it from .13 LOL. Several negatives have wieghed on this stock recently IMO. Embry mentioned that he didn't feel that China was a bad place for miners to do business and he thought Eritrea was a worse risk than China I read somewhere, the general correction in Gold shares and perhaps the association with certain humpy dump newsletters. Nevsun Resources Ltd NSU Shares issued 62,212,022 Dec 18 2003 close $ 6.50 Friday December 19 2003 News Release Dr. John Clarke reports NEVSUN RESOURCES LTD.: $68 MILLION PRIVATE PLACEMENT FINANCING COMPLETED Nevsun Resources has completed the private placement as announced in Stockwatch on Dec. 8, 2003, with Salman Partners Inc., Dundee Securities Corp. and Haywood Securities Inc., and including BMO Nesbitt Burns Inc., Canaccord Capital Corp. and Westwind Partners Inc. The underwriters exercised their option such that 10 million units were sold at a price of $6.80 per unit for gross proceeds of $68-million. Each unit consists of one common share and one-half of a common share purchase warrant, with each full warrant entitling the holder to purchase one common share of the company at an exercise price of $10 per common share for a period of five years from closing. The common shares and warrants will be subject to a four-month hold period that expires on April 20, 2004. The company paid the underwriters a commission of 5 per cent of the gross proceeds of the private placement. The net proceeds from the private placement will be used to advance the development of the Tabakoto and Segala gold projects located in Mali, for exploration on the Bisha property and other properties in the state of Eritrea and for general working capital. (c) Copyright 2004 Canjex Publishing Ltd. stockwatch.com