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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.

Share Price

Beaconsfield Gold Mine Acquisition

  • 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.

Tier One Jurisdiction

  • 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.

Reserves & Resources

© 2020 by China Mining Club

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