 | Nevsun Resources Ltd. - NSU.t operates the flagship Bisha Mine in Eritrea, East Africa. The Bisha deposit is a large, high-grade volcanogenic massive sulphide (VMS) producing Gold, Silver, Copper and Zinc. Total reserves are about 22mt giving an expected mine life into 2025. |  |
 
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Nevsun Resources Ltd. and Zijin Mining Group Co. Ltd. have entered into a definitive agreement pursuant to which Zijin will make a takeover bid to acquire all of the issued and outstanding shares of Nevsun for $6 per share in cash. The offer is valued at $1.86-billion ($1.41-billion (U.S.)). The cash consideration of $6 per share represents a premium of 57 per cent over Nevsun's unaffected closing price of $3.82 on May 7, 2018, the day Lundin Mining Corp. first publicly announced its intention to acquire Nevsun.
Lundin Mining Corp. intends to make a formal offer to acquire all of the issued and outstanding common shares of Nevsun Resources Ltd. for cash consideration of $4.75 (Canadian) per share. The offer price represents a significant premium of 82 per cent to the closing price of $2.61 (Canadian) on Feb. 6, 2018, the date of the first offer to Nevsun related to Lundin's interest in acquiring Timok. This is a 33-per-cent premium to the closing price of $3.58 (Canadian) per share on the Toronto Stock Exchange as of April 30, 2018, the date of Lundin Mining's previously announced prior proposal to Nevsun, and a 40-per-cent premium to the volume weighted average trading price of $3.35 (Canadian) per share on the TSX over the 20 trading days ended April 30, 2018. The offer price values Nevsun at an equity value of approximately $1.4-billion (Canadian) ($1.1-billion USD).
 
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