San Diego, Feb. 8, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Nevsun Resources (USA) (NYSEAMEX:NSU) was announced over potential securities laws violations by certain officers and directors at Nevsun Resources in connection with potentially false and misleading statements in connection with its Bisha mine in Eritrea.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Nevsun Resources (USA) (AMEX:NSU) concerning whether a series of statements regarding Nevsun Resources business, its prospects and its operations were materially false and misleading at the time they were made.

Nevsun Resources (USA) reported that its quarterly Revenue in 2011 increased from $53.53million in the first quarter to $134.66million in the second quarter and $185million in the third quarter and that its quarterly Net Income in 2011 increased from $11.80million to $35.29million to $53.32million.

Shares of Nevsun Resources (USA) (Public, NYSEAMEX:NSU) rose from as low as $0.41 per share in October 2008 to as high as $7.53 per share in the end of December 2010. Shares of Nevsun Resources (USA) were able to stay above $5 per share for the most part of 2011.

However, on February 7, 2012, Nevsun Resources (USA) announced its 2012 outlook for planned gold production of 190,000 to 210,000 ounces from the Bisha mine in Eritrea.

Following the announcement multiple news sources reported that Nevsun Resources had cut its 2012 gold production guidance in half.

According to one article Nevsun Resources is matching what it mined in 2011 to what it had modeled in reserves a discrepancy began to emerge last year and that much of what Nevsun Resources had pegged as gold bearing ore turned out to be waste rock in the upper oxide zone at Bisha.

Shares of Nevsun Resources (USA) (Public, NYSEAMEX:NSU) fell from $6.65 on February 2, 2012 to $4.17 on February 8, 2012.