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Nevsun Shares Fall Sharply After Government Halt to Mine

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Online Stock Market Trading By Peter Shout

Retail sales, for example, fell sharply in October, but this primarily reflected the impact of lower gasoline sales and underlying spending was firm.

Stock Investing Course The African country of Eritrea ordered Nevsun Resources Ltd. and its two other Vancouver-based partners, Sanu Resources Ltd. and Sunridge Gold Corp to halt work at their mine.

A bit later the picture was a bit darker for the JPY as industrial production fell sharply from 0.7% 0.6%.

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I now live in Wittenoom and have read all the Government and scientific reports which show that there is minimal risk to humans in the town now that the mine has ceased operations. This beautiful place needs now to be cleaned up by responsible Governments so that future generations can enjoy this piece of paradise. But Governments are dancing to mining companies tunes who want to mine this region, so Garrett time you vocalised the truth and conservation is what is needed here not blind ignorance and lies.

Stock Investing Game Sept 8, 2004 (AXcess News/SP) Vancouver BC - The African country of Eritrea ordered Nevsun Resources Ltd. (TSX: NSU) and its two other Vancouver-based partners, Sanu Resources Ltd. (TSXV: SNU) and Sunridge Gold Corp (TSXV: SGC) to halt work at their mine.

In other news, term rate futures were strongly higher yesterday as the cash federal funds rate dropped below the Federal Reserve' dated yields for U.S government debt fell sharply.

Journal Prime Rate Street Wall Shares of Nevsun fell 46% on the news to close at C$1.83, down 32 cents for the day and the third-most actively traded stock on the Toronto Stock Exchange Tuesday. Over 4.67 million shares traded hands.On Friday Nevsun said that the government of Eritrea had directed that they "halt all mineral prospecting and exploration work and related activities in Eritrea" until further notice. The companies said Tuesday they have complied with the government request and have asked for clarification on the reasons behind the work stoppage directive.

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Stock Market News Its partners in the mine, Sunridge and Sanu faired as bad as Nevsun in market trading Tuesday.Sunridge's stock fell C$1.05 to end the session at 85 cents while Sanu's shares were off 40 cents to end the day at 75 cents.

Stock Investing Basics Nevsun owns 90% of the Bisha high-grade gold and copper discovery in Eritrea.

Stock Investing Software Eritrea, a small country in northeast Africa bordered by Sudan, Ethiopia and Djibouti. Eritrea has been at war with Ethiopia for 50 years.Advertisement

Stock Market Trading Two Sanu directors, Michael Winn and Demetrius Pohl, are now in Asmara, the capital of Eritrea, to help resolve the issue with the work stoppage.

Stock Investing For Dummy Canaccord Capital Corporation's Steven Butler released an update to his coverage on Nevsun, saying that his recommendation of the stock would be "under review". Butler said that tensions between the African countries flared after a hijacked Libyan plane bound for Eritrea landed in Sudan.

Stock Market Crash "There is a long history of border conflict between Eritrea and Ethiopia, and cells of Al Qaeda are know to exist in neighbouring Sudan, Somalia and Ethiopia," said Butler.

Stock Investing Tip Source: Source Press

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