Very Bad News AheadI can see the great nation of Eritrea taking 100% of the Bisha mine down the road. They are desperate for money from that mine and it's clearly not a priority at this time for Nevsun. Since Eritrea has a human rights record that's a bit worse than North Korea...anything is possible.
They may give Nevsun $1 for their 60% share and then turn around and sell Bisha to the Chinese if they promise to mine and develop FULL SPEED AHEAD.
Timok will obviously require a lot more money (hundreds of millions more) than what Reservoir was claiming. I have a price target of 98 cents on this stock. If you're bullish...don't you just wonder why Lundin has not moved in at these ridiculoulsy low prices to buy up Nevsun? It's still not worth it for them (obviously). What are they waiting for? The bigger lesson here is to stay the hell away from mining companies (too much can go wrong...and even when management does everything right...they can still lose money because it's a commodity business and the underlying commodity price determines profitability).