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Nevsun Reports Strong Third Quarter 2012 Financial Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/08/12 -- Nevsun Resources Ltd. (TSX:NSU)(NYSE MKT:NSU) today reported financial and operating results for the third quarter ended September 30, 2012.

This release should be read in conjunction with Nevsun Resources Ltd.'s ("Nevsun" or the "Company") 2012 third quarter Management Discussion and Analysis ("MD&A"), which can be found at www.nevsun.com/investors/financials. Unless otherwise noted, with the exception of earnings per share and cash cost per ounce figures, all results are in thousands of US dollars.

Third quarter 2012 highlights


--  Mined 316,000 tonnes of ore at 5.21 g/t gold 
--  Produced 98,000 ounces of gold; 267,000 ounces in the nine months ended
    September 30, 2012 
--  Net income attributable to Nevsun shareholders was $44.2 million,
    representing earnings of $0.22 per share 
--  Cash costs of $307 per ounce of gold((1)) 

Outlook


--  Expects to exceed previously announced 2012 gold production target of
    280,000 - 300,000 ounces 
--  Oxide gold production expected to continue into Q2 2013 
--  Copper plant expansion on budget and on schedule with commissioning
    expected for mid-2013 
--  Mineral resource estimate for North West Zone deposit is expected to be
    released by mid-2013 
--  Expects to release its exploration plans for Mogoraib region in Q1 2013

Financial review

The Bisha copper plant expansion continues on schedule and on budget. The copper plant expansion is entirely funded by Bisha operating cash flows. As a result, Nevsun has not had to access debt or equity markets to fund the expansion and Nevsun's balance sheet remains clear of long-term debt obligations.

Revenues for the three months ended September 30, 2012 were $169,992, a decrease from the three months ended September 30, 2011 of $186,502, resulting from fewer gold ounces sold, with 96,700 ounces sold in the three months ended September 30, 2012 compared to 108,600 ounces sold in the same period in 2011 and from a lower realized gold price per ounce with $1,681 realized in Q3 2012, compared to $1,715 in Q3 2011. The lower Q3 2012 production resulted from the previously mentioned lower milled grade and from lower recoveries with 87% for Q3 2012 as compared with 89% for Q3 2011. The comparatively lower milled grades and recoveries were expected, based on the ore type for the section of the pit that was processed in Q3 2012. The Company had silver by-product sales of $7,442 and $1,125, respectively, for the three month periods ended September 30, 2012 and 2011.

Operating expenses for the three months ended September 30, 2012 of $29,196 (three months ended September 30, 2011 - $20,939) increased from the same period in the prior year mostly due to increases in fuel, mill consumables and labour costs and costs associated with an increased volume of waste removal. Royalties for the three month periods ended September 30, 2012, and 2011 were $8,154, and $9,276, respectively.

(1) Non-GAAP measure, refer to page 10 of the Q3 2012 MD&A

Net income attributable to Nevsun shareholders for the three months ended September 30, 2012 was $44,211, a decrease of $9,112 over the same period in the prior year due to lower revenues and higher costs, as explained above. Earnings per share attributable to Nevsun shareholders for the three months ended September 30, 2012 was $0.22, a decrease of $0.05 per share over the same period in 2011.

Gold cash costs per ounce sold for the three months ended September 30, 2012 were $307(2), which included $77 per ounce in silver by-product credits, while gold cash costs per ounce sold for the same period in 2011 were $267, which included $10 per ounce in silver by-product credits.

The Company's cash and cash equivalents at September 30, 2012, were $378,925, up from $347,582 as at December 31, 2011. The Company generated $79,632 and $102,911, respectively, from its operating activities for the three month periods ended September 30, 2012 and 2011. There were $30,037 of income taxes paid in Q3 2012 and $nil paid in the comparative period.

During the three months ended September 30, 2012, the Company used $44,857 (three months ended September 30, 2011 - used $44,722) in its financing activities. During Q3 2012, the Company received $5,731, and $369 in related interest, as partial payment on the sale of 30% of the Bisha Mine to the State-owned Eritrean National Mining Corporation. No such proceeds were received in Q3 2011.

Operations review

Milled grade increased from 6.58 grams per tonne ("g/t") in Q1 2012 to 7.40 g/t in Q3 2012 as a result of pockets of high grade acid domain ore that were encountered in the pit. The ore in these extremely high grade pockets has poor competency making it difficult to anticipate with exploration core drilling while also requiring sophisticated stockpile blending to facilitate successful processing and recovery of the precious metals. Average metallurgical recoveries for the nine months ended September 30, 2012 of 86% are lower than the 89% experienced in the comparative prior period as a result of the changing nature of the ore and was expected.

The Company's gold production for Q1, Q2, and Q3 2012 was 82,000, 87,000 and 98,000 ounces respectively. The total for the nine months ended September 30, 2012, of 267,000 was 4% lower than the 278,000 produced in the comparative prior period.

Ore mined was significantly higher in Q2 2012 at 500,000 tonnes, relative to Q1 and Q3 2012 at 349,000 and 316,000 tonnes respectively, as a result of stockpiling in Q2 to prepare for the rainy season that runs from mid-June to mid-September. Waste mined in Q3 2012 of 2,590,000 tonnes increased when compared to the 1,826,000 and 1,659,000 tonnes mined in Q1 and Q2, respectively.

The increase in the Q3 2012 waste tonnes mined and corresponding increase in strip ratio to 10.3 was in accordance with expectations. Copper phase pre-stripping was completed in Q2 2012 so costs related to copper phase waste tonnes are no longer deferred, adding to the strip ratio in Q3. In addition, strip ratio increased as a result of increased pit depth and the newly planned shallower pit walls due to updated geotechnical assessments, as noted in the August 31, 2012 Technical Report. Strip ratio levels similar to Q3 are expected to continue for the next 3 - 4 quarters, however a life of mine strip ratio of 6.6:1 is predicted in the August 31, 2012 Technical Report.

Reserves update

On September 7, 2012, the Company filed the Canadian National Instrument 43-101 Technical Report (the August 31, 2012 Technical Report) in support of previously announced increased mineral resources and mineral reserves estimates for Bisha. Expressed as contained metal, the copper reserves estimate increased 6% and the zinc reserves estimate increased 38% as of May 31, 2012, compared with the previous reserves estimate effective date January 1, 2011.

Exploration and development

Copper phase development:

The Company continued work on copper phase development activities during Q3 2012, expending $19,630 on the copper phase. Total capital for the copper phase expansion is expected to be approximately $125,000, including the copper plant, port facilities and concentrate shipping equipment. The Company is taking the same approach to eliminate price risk on construction that it was successfully able to accomplish during the build of the gold plant. As at September 30, 2012, $92,471 had been spent, ordered or arranged, thereby fixing nearly three quarters of the expected project costs. The copper flotation plant is targeted to be operational in mid-2013. SENET of South Africa is the engineering, procurement, and construction management contractor. Photos of the expansion can be found at www.nevsun.com/projects/photogallery/copperphase.

(2) Non-GAAP measure, refer to page 10 of the Q3 2012 MD&A

Harena:

In early July 2012, the State of Eritrea granted a mining license to Bisha Mining Share Company for the Harena deposit, located 9 km south of the Bisha plant. The Company started extracting Harena ore in October and processing it at the Bisha plant in November.

North West Zone:

The Company has planned a metallurgical and geotechnical drilling campaign for Q4 2012 with plans to prepare a resource estimate for the North West Zone by mid-2013.

Mogoraib:

On October 10, 2012 the Company closed the acquisition of the Mogoraib exploration license in Eritrea, which includes the Hambok copper and zinc deposit. Consideration for the acquisition was $5,000, plus an additional possible $7,500 upon commencement of commercial production from the licensed area.

While management does not believe Hambok is economic as a stand-alone deposit, the Company plans to undertake further exploration and, with the Bisha plant a short distance away, believes Hambok may become an extension for the Bisha base metal operations. The Company expects to announce its exploration plans for the region in Q1 2013.

If additional exploration is successful and base metals reserves are identified, then the Company may consider increasing the planned capacity of the zinc and copper plant when the Bisha plant transitions from copper to zinc in 2015 or 2016.

Conference call details

The Company will hold a conference call on Thursday, November 8, 2012 at 8:30AM Vancouver / 11:30AM Toronto, New York / 4:30 PM London, to discuss the quarterly results. Please call in at least five minutes prior to the conference call start time to ensure prompt access to the conference. Dial in details are as follows:


North America: 416-340-2219 / 1 866-226-1798                                
UK: 00800-9559-6849 (toll free)                                             
Other International: +1 416-340-2219                                        

The conference call will be available for replay until November 15, 2012 by calling +1 905-694-9451 / 1 800-408-3053 and entering passcode 7510681.

Forward Looking Statements

The above contains forward-looking statements regarding future gold production, future gold recoveries, gold production grades, future gold cash production costs, future copper phase expansion, timing of copper production, and future Mogoraib exploration programs. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimated", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. Information concerning the interpretation of drill results and mineral resource and reserve estimates also may be deemed to be forward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, the risks that (i) any of the assumptions in the historical resource estimates turn out to be incorrect, incomplete, or flawed in any respect; (ii) the methodologies and models used to prepare the resource and reserve estimates either underestimate or overestimate the resources or reserves due to hidden or unknown conditions, (iii) the mine operations are disrupted or suspended due to acts of god, internal conflicts in the country of Eritrea, or unforeseen government actions; (iv) the Company experiences the loss of key personnel; (v) the mine operations are adversely affected by other political or military, or terrorist activities; (vi) the Company becomes involved in any material disputes with any of its key business partners, lenders, suppliers or customers; (vii) the Company is subjected to any hostile takeover or other unsolicited attempts to acquire control of the Company; (viii) the Company is subject to any adverse ruling in any of the pending litigation to which it is a party; or (ix) the Company incurs unanticipated costs as a result of the transition from the oxide phase of the Bisha mining operations to the copper phase in 2013. Other risks are more fully described in the Company's most recent Management Discussion and Analysis, which is incorporated herein by reference. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future, except as required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

Please see the Company's Annual Information Form, 2011 annual Management Discussion and Analysis, and 2012 third quarter Management Discussion and Analysis for a more complete discussion of the risk factors associated with our business.

About Nevsun Resources Ltd.

Nevsun Resources Ltd. is a Vancouver-based mining company with an operating mine in Eritrea. Nevsun's 60%-owned Bisha Mine commenced gold production in February 2011 and is scheduled to transition to copper/gold production in 2013. Management expects the Bisha Mine will rank as one of the highest grade open pit base metal deposits in the world.

NEVSUN RESOURCES LTD.

Cliff T. Davis, President & Chief Executive Officer


Summarized financial and operating results  
----------------------------------------------------------------------------
Financial results:                                                          
In US $000s (except per share and per ounce data):                          
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                              Nine months   
                                                                 ended      
                                                             September 30,  
                                                          ------------------
                                 Q3 2012  Q2 2012  Q1 2012     2012  2011(1)
----------------------------------------------------------------------------
Revenues                        $169,992 $147,713 $149,390 $467,095 $376,902
Operating income                 125,482  109,671  110,628  345,781  288,529
Net income attributable to                                                  
 Nevsun shareholders              44,211   39,568   41,238  125,017  100,412
Earnings per share attributable                                             
 to Nevsun shareholders             0.22     0.19     0.21     0.62     0.51
Total assets                    $855,433 $813,352 $747,148 $855,433 $700,769
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Gold production and sales statistics(2):                                    
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                            Nine months     
                                                               ended        
                                                           September 30,    
                         Q3 2012    Q2 2012    Q1 2012       2012       2011
----------------------------------------------------------------------------
Tonnes milled            465,000    465,000    430,000  1,360,000  1,351,000
Milled gold grade                                                           
 (g/t)(5)                   7.40       6.93       6.58       6.98       7.30
Recovery, % of gold          87%        85%        86%        86%        89%
Gold in dore, ounces                                                        
 produced                 98,000     87,000     82,000    267,000    278,000
Gold ounces sold          96,700     87,500     83,100    267,300    270,100
Gold price realized                                                         
 per ounce            $    1,681 $    1,599 $    1,712 $    1,664 $    1,605
Cash cost per ounce                                                         
 sold(3)              $      307 $      253 $      277 $      280 $      287
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Mining statistics:                                                          
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                           Nine months      
                                                              ended         
                                                          September 30,     
                                                    ------------------------
                     Q3 2012     Q2 2012     Q1 2012        2012        2011
----------------------------------------------------------------------------
Ore mined,                                                                  
 tonnes              316,000     500,000     349,000   1,165,000   1,230,000
Mined gold                                                                  
 grade, g/t(5)          5.21        6.04        4.71        5.42        7.70
Waste mined,                                                                
 tonnes(4)         2,590,000   1,659,000   1,826,000   6,075,000   5,732,000
Strip ratio                                                                 
 (using BCMs)                                                               
 (6)                    10.3         4.0         6.2         6.3         6.6
Copper phase                                                                
 prestrip,                                                                  
 tonnes                    -     481,000     739,000   1,220,000           -
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1) The 2011 revenues, operating income, net income attributable to Nevsun  
 shareholders and earnings per share attributable to Nevsun shareholders    
 contain results from February 22, 2011 to March 31, 2011 and February 22,  
 2011 to September 30, 2011 only.                                           
(2) The 2011 gold production and sales statistics include results from the  
 pre-operating period, January 1 - February 21, 2011. For accounting        
 purposes, sales from ounces produced prior to February 22, 2011 were       
 considered pre-production and capitalized to property, plant and equipment.
(3) Cash operating cost per ounce sold includes royalties and is a non-GAAP 
 measure; see pg 10 of the MD&A for more information.                       
(4) All waste tonnes mined reflect updated rock density estimates.
(5) The milled grade is consistently higher than the mined grade. This
demonstrates the difficulty in estimating and testing mined grade as a
result of the very high grade pockets of oxide and supergene transitional
ore, as described on pg 5 and 6 of the MD&A.
(6) The increase in the Q3 2012 strip ratio to 10.3 was in accordance with
expectations. Copper phase pre-stripping was completed in Q2 2012 so copper
phase waste tonnes are no longer deferred, adding to the strip ratio in Q3.
In addition, strip ratio increased as a result of increased pit depth and
the newly planned shallower pit walls due to updated geotechnical
assessments, as noted in the August 31, 2012 Technical Report. Strip ratio
levels similar to Q3 are expected to continue for the next 3 - 4 quarters,
however a life of mine strip ratio of 6.6:1 is predicted in the August 31,
2012 Technical Report. 
                                                                            
Condensed Consolidated Interim Statements of Comprehensive Income           
Unaudited                                                                   
(Expressed in thousands of United States dollars)    
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                                Three months ended         Nine months ended
                                     September 30,             September 30,
                                 2012         2011         2012         2011
----------------------------------------------------------------------------
Commercial operations                                                       
 commenced February 22,                                                     
 2011:                                                                      
Revenues                 $    169,992 $    186,502 $    467,095 $    376,902
Cost of sales                                                               
 Operating expenses          (29,196)     (20,939)     (75,202)     (51,965)
 Royalties                    (8,154)      (9,276)     (22,934)     (18,762)
 Depreciation and                                                           
  depletion                   (7,160)      (9,343)     (23,178)     (17,646)
----------------------------------------------------------------------------
Operating income (1)          125,482      146,944      345,781      288,529
                                                                            
Administrative                (3,220)      (3,730)      (5,116)     (11,046)
Finance income                    899        2,445        3,104        2,481
Finance costs                   (153)        (595)        (459)      (1,987)
----------------------------------------------------------------------------
Income before taxes           123,008      145,064      343,310      277,977
                                                                            
Income taxes                 (47,372)     (55,864)    (132,046)    (106,279)
----------------------------------------------------------------------------
Net income                     75,636       89,200      211,264      171,698
                                                                            
Other comprehensive                                                         
 income:                                                                    
 Unrealized loss on                                                         
  available-for-sale                                                        
  investment, net of tax            -         (40)            -        (166)
----------------------------------------------------------------------------
Comprehensive income     $     75,636 $     89,160 $    211,264 $    171,532
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Income for the period                                                       
 attributable to:                                                           
  Nevsun shareholders          44,211       53,323      125,017      100,412
  Non-controlling                                                           
   interest                    31,425       35,877       86,247       71,286
----------------------------------------------------------------------------
                         $     75,636 $     89,200 $    211,264 $    171,698
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Comprehensive income for                                                    
 the period attributable                                                    
 to:                                                                        
 Nevsun shareholders           44,211       53,283      125,017      100,246
 Non-controlling                                                            
  interest                     31,425       35,877       86,247       71,286
----------------------------------------------------------------------------
                         $     75,636 $     89,160 $    211,264 $    171,532
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Earnings per share                                                          
 attributable to Nevsun                                                     
 shareholders:                                                              
 Basic                   $       0.22 $       0.27 $       0.62 $       0.51
 Diluted                 $       0.22 $       0.27 $       0.61 $       0.50
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1) Operating income for the comparative periods is from July 1 to September
30, 2011 and February 22 to September 30, 2011.                          
                                                                            
                                                                            
Condensed Consolidated Interim Statements of Cash Flows                     
Unaudited                                                                   
(Expressed in thousands of United States dollars) 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                  Three months ended       Nine months ended
                                       September 30,           September 30,
                                    2012        2011        2012        2011
----------------------------------------------------------------------------
Cash provided by (used                                                      
 in):                                                                       
Operating:                                                                  
Income for the period      $      75,636 $    89,200 $   211,264 $   171,698
Items not involving the                                                     
 use of cash:                                                               
 Accretion on reclamation                                                   
  liability                          153         153         459         356
 Depreciation and                                                           
  depletion                        7,165       9,343      23,182      17,646
 Income taxes                     47,372      55,864     132,046     106,279
 Share-based payments and                                                   
  stock appreciation                                                        
  rights                           1,219       2,493         751       7,730
 Interest income on due                                                     
  from non-controlling                                                      
  interest                         (816)     (2,414)     (2,929)     (2,414)
 Interest expense on                                                        
  advances from non-                                                        
  controlling interest                 -         406           -       1,495
Changes in non-cash                                                         
 operating capital:                                                         
 Accounts receivable and                                                    
  prepaids                      (16,308)    (44,440)    (33,796)    (45,456)
 Inventories                     (4,002)     (5,367)    (10,963)    (13,402)
 Accounts payable and                                                       
  accrued liabilities              (750)     (2,327)     (3,625)     (1,756)
 Income taxes paid              (30,037)           -   (169,586)           -
----------------------------------------------------------------------------
                                                                            
Net cash provided by (used                                                  
 in) operating activities         79,632     102,911     146,803     242,176
Investing:                                                                  
 Proceeds on sale of pre-                                                   
  production gold sales                -           -           -      48,613
 Expenditures on property,                                                  
  plant and equipment -                                                     
  gold phase                     (2,415)     (8,559)     (9,210)    (35,096)
 Expenditures on property,                                                  
  plant and equipment -                                                     
  copper phase                  (19,630)     (8,711)    (46,294)    (12,608)
 Expenditures on                                                            
  exploration and                                                           
  evaluation                     (2,600)     (1,680)     (4,850)     (4,565)
 Changes in non-cash                                                        
  working capital related                                                   
  to investing activities          (555)           -     (1,696)           -
----------------------------------------------------------------------------
                                                                            
Net cash provided by (used                                                  
 in) investing activities       (25,200)    (18,950)    (62,050)     (3,656)
Financing:                                                                  
 Dividends paid to Nevsun                                                   
  shareholders                   (9,976)     (5,935)    (19,989)     (5,935)
 Dividends paid to non-                                                     
  controlling interest          (38,000)           -    (64,000)           -
 Receipt of purchase price                                                  
  settlement from non-                                                      
  controlling interest             5,731           -      34,223           -
 Interest received on due                                                   
  from non-controlling                                                      
  interest                           369           -       1,773           -
 Principal and interest                                                     
  paid on loan from non-                                                    
  controlling interest                 -           -           -     (4,103)
 Repayment of advances                                                      
  from non-controlling                                                      
  interest                             -    (41,000)           -    (58,000)
 Issuance of common                                                         
  shares, net of issue                                                      
  costs                              160       2,213         855       6,035
 Repurchase and                                                             
  cancellation of common                                                    
  shares                         (3,141)           -     (6,272)           -
----------------------------------------------------------------------------
                                                                            
Net cash used in financing                                                  
 activities                     (44,857)    (44,722)    (53,410)    (62,003)
----------------------------------------------------------------------------
Increase in cash and cash                                                   
 equivalents                       9,575      39,239      31,343     176,517
Cash and cash equivalents,                                                  
 beginning of period             369,350     187,423     347,582      50,145
----------------------------------------------------------------------------
Cash and cash equivalents,                                                  
 end of period             $     378,925 $   226,662 $   378,925 $   226,662
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Non-cash investing and                                                      
 financing transactions:                                                    
 Reclassification of                                                        
  share-based payments                                                      
  reserve to share capital                                                  
  upon exercise of options            49         880         280       2,255
 Depreciation capitalized                                                   
  to property, plant and                                                    
  equipment                            -           -           -         397
 Share-based payments                                                       
  capitalized to property,                                                  
  plant and equipment                  -           -           -         276
 Closure and reclamation                                                    
  increase in property,                                                     
  plant and equipment                  -           -           -       1,074
 Interest capitalized to                                                    
  property, plant and                                                       
  equipment                            -           -           -         693
 Stock appreciation rights                                                  
  liability settled with                                                    
  common shares                        -       8,451           -       8,451
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Condensed Consolidated Interim Balance Sheets                               
Unaudited                                                                   
(Expressed in thousands of United States dollars)                           
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                September 30,   December 31,
                                                         2012           2011
----------------------------------------------------------------------------
                                                                            
Assets                                                                      
                                                                            
Current assets                                                              
 Cash and cash equivalents                     $      378,925 $      347,582
 Accounts receivable and prepaids                      54,285         20,490
 Inventories                                           43,839         32,099
 Due from non-controlling interest                          -         11,137
 ---------------------------------------------------------------------------
                                                      477,049        411,308
                                                                            
Non-current assets                                                          
 Due from non-controlling interest                     62,382         84,312
 Property, plant and equipment                        316,002        279,606
 ---------------------------------------------------------------------------
                                                      378,384        363,918
----------------------------------------------------------------------------
Total assets                                   $      855,433 $      775,226
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Liabilities and equity                                                      
                                                                            
Current liabilities                                                         
 Accounts payable and accrued liabilities      $       18,618 $       24,651
 Dividends payable                                          -         10,013
 Income taxes payable                                  67,067        103,670
 ---------------------------------------------------------------------------
                                                       85,685        138,334
                                                                            
Non-current liabilities                                                     
 Deferred income taxes                                 15,249         16,187
 Provision for closure and reclamation                 13,692         13,233
 ---------------------------------------------------------------------------
                                                       28,941         29,420
----------------------------------------------------------------------------
Total liabilities                                     114,626        167,754
----------------------------------------------------------------------------
                                                                            
Equity                                                                      
 Share capital                                        404,168        409,305
 Share-based payments reserve                          12,920         11,736
 Retained earnings                                    191,424         76,383
                                              ------------------------------
 Equity attributable to Nevsun shareholders           608,512        497,424
                                                                            
 Non-controlling interest                             132,295        110,048
----------------------------------------------------------------------------
Total equity                                          740,807        607,472
----------------------------------------------------------------------------
Total liabilities and equity                   $      855,433 $      775,226
----------------------------------------------------------------------------
----------------------------------------------------------------------------

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What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, discussed key challenges and solutions to powering a ride sharing and/or multimodal model in the age ...