Brief: Nevsun considers all options after Lundin hostile bid - CEO

Euro Sun Mining

27/07/2018 16:39

July 27 (Reuters) - 
    * NEVSUN RESOURCES LTD  NSU.TO  CEO SAYS COMPANY WAS
SURPRISED BY
LUNDIN MINING'S HOSTILE  LUN.TO  C$4.75 A SHARE CASH OFFER
    * NEVSUN HAD ENGAGED WITH EURO SUN MINING  ESM.TO , PARTNER
ON
LUNDIN'S PREVIOUS BID, OPENED ITS DATA ROOM - CEO PETER
KUKIELSKI 
    * NEVSUN NOT LOOKING AT STREAM FINANCING FOR ITS TIMOK
PROJECT IN
SERBIA - CHIEF FINANCIAL OFFICER RYAN MACWILLIAM
    * NEVSUN'S TIMOK FINANCING 4 LEGS: CURRENT CASH BALANCE OF
$125
MILLION, BISHA MINE CASH FLOWS, POTENTIAL STRATEGIC INVESTOR,
TRADITIONAL PROJECT FINANCE FACILITY - CFO
    * NEVSUN BOARD CONSIDERING "ALL OPTIONS TO MAXIMIZE VALUE"
TO
SHAREHOLDERS AS IT READIES RESPONSE TO LUNDIN BID IN NEXT 14
DAYS - CEO
    * NEVSUN SAYS "SEVERAL" POTENTIAL STRATEGIC PARTNERS IN
FINAL
STAGES OF DUE DILIGENCE - CFO
    * NEVSUN EXPECTS TO FUND 50-60 PERCENT OF TIMOK PROJECT
CAPITAL
FROM TRADITIONAL PROJECT FINANCE FACILITY, TALKS WITH BANKS,
EXPORT CREDIT AGENCIES CONTINUING - CFO
    * NEVSUN "CONSISTENTLY ENGAGED" WITH TIMOK LOWER ZONE
DEPOSIT JV
PARTNER FREEPORT-MCMORAN  FCX.N  ON NEXT STEPS - CEO 

Source text for Eikon:  ID: 
Further company coverage:  NSU.TO 

 (Reporting by Susan Taylor)
 ((susan.taylor1@thomsonreuters.com;))