Whiterow reported in mid-2021 that production from NQ’s Hellyer mine continues to generate significant revenue and income NQ Minerals to kick off exploration at 'one of Australia's richest lead-zinc mines in history'. NQ Minerals PLC is an Australian mining company focused on the environmental rehabilitation of former precious metal mining operations and the extraction of minerals required in clean energy delivery as well as gold.
The Hellyer mine in Tasmania, 100%-owned by NQ Minerals PLC, generated revenue of A$19.8mln from production of base and precious metals during the second quarter to June 2021. Operating profits rang in at A$11mln and net income was A$5.7mln. These results exclude costs at the PLC level, as cash generated by Hellyer is currently held at the Hellyer subsidiary level as agreed under financing agreements with bankers. During the quarter Hellyer produced 8,774 dry metric tonnes of lead concentrate, 4,410 dry metric tonnes of zinc concentrate, 1,096 ounces of gold and 242,798 ounces of silver.
NQ Minerals PLC is to restructure its balance sheet and is in advanced refinancing negotiations with major financial institutions. In December 2020, the company restructured a debt related to the Hellyer mine in Australia with a US$55mln package.
NQ Minerals PLC said mining and trucking operations at its Beaconsfield gold mine in Tasmania, Australia, are progressing well. The company, which is planning to extract more than 100,000 tonnes of 3 grammes a tonne contaminated soil from the Beaconsfield wetlands as part of the environmental rehabilitation of the land, said 22,290 tonnes of material had so far been trucked to stockpiles in the processing plant area.
NQ Minerals' new chairman David Lenigas spoke to Proactive London about plans to start exploration work at the Hellyer mine in Tasmania. After a 10-year hiatus he says the company can re-start exploration with the benefit of more advanced geophysical techniques. NQ is currently producing lead and zinc concentrates (with significant gold and silver credits) by reclaiming the Hellyer mine tailings generated from the former mining operations and processing them through the Hellyer concentrator plant at the rate of over 1.2 million tonnes per annum.
The company holds advanced exploration projects in North Queensland in Australia; but the key focus for investors should be their recent acquisition of the Hellyer Tailings project in Tasmania, Australia, which has the potential to see the company be strongly cash generative in 2018. For details, see (more).
[Full Disclosure: NQ Minerals PLC is a client of I2M Consulting, LLC in Houston, Texas. I2M conducted the early independent screening of the Hellyer Mine Tailings Recovery project and strongly encouraged further funding and development of the project.]
Managed & Built by I2M Consulting, LLC | © 2010-
