NQ Minerals

Diversified London / US listed producer with 5 sites across Tasmania and Queensland

(NEX:NQMI | OTCQB:NQMLF)

Overview

Flagship project is the Hellyer Gold Mine in Tasmania acquired in 2017, a low-cost tailings retreatment operation producing a lead and a zinc concentrate with gold and silver credits along with a pyrite concentrate.
Commissioned in late 2018, the initial tailings operation has a ten year life although there is potential to keep the mill operating via an underground restart and other regional exploration.
2019 commissioning phase achieved 820kt throughput resulting in 25kt of lead concentrate, 15.6kt lead concentrate and 77.8kt pyrite concentrate. Achieved asset level operating profit of A$12.2m for the year on revenue of A$53.9m.
Recently announced a 44% increase in throughput capacity to 1.3mntpa.
US$60m refinancing process underway.

Acquired 100% of the Beaconsfield Gold Mine, Tasmania in Feb 2020 for A$2m which includes the 350ktpa processing plant.
In April 2020 an upgraded resource report was published demonstrating 1,454kt grading 10.3g/t for 483koz Au. There is an additional 67koz potential in Tailings Dam #1 and exploration upside from surface and at depth.
Underway with permitting process and engineering studies to expedite a restart of mining and production. Construction of a new decline and upgrade of the mining fleet is required along with a refurbishment of the plant on C&M.

Historic mining region means strong infrastructure and availability of skilled labour.
Road, rail and port infrastructure available and in close proximity.
Synergies from network of brownfield Tasmanian facilities.
Stable regulatory framework for mining and supportive local community.