RESERVOIR MINERALS INC V.RMC

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Nevsun Dismisses Baseless Criticisms

[thorgb1]

psj567 wrote: Red Flags:

1. Nevsun has no proven capability in underground mining;
2. Nevsun's only asset is in one of the least stable mining jurisdictions in the world;
3. Nevsun's consolidated financial statements filed on SEDAR show it is carrying as assets a $38,825,000 loan  and a $5,365,000 loan to the Eritean government, which according to the accompanying Note to the Financial Statements, appears to be several years old. Question: is the Eritrean government ever going to pay these loans back and why hasn't it paid them back yet? In other words, where has the approximate $44 million gone? This suggests, at a minimum, the instabiltiy of Nevsun's 40% minority partner in Bisha, the Eritrean government. At worse, it potentially represents something far more ominous.

RMC shareholders beware. Nevsun is acquiring RMC/Timok on the cheap and offers RMC shareholders very little in the way of proven underground mining capability. Its dealings/ relationship with the Eritrean government, based on its consolidated financial statements, raises additional questions.