Hellyer Mine Acquisition, Tasmania
NQ Minerals (NEX: NQMI, OTCQX: NQMLF) has completed the acquisition of 100% interest in the polymetallic Hellyer Mine in Tasmania. With over US$1 billion worth of contained gold, silver, zinc and lead at Hellyer, over US$350 million worth of existing mine infrastructure, and a net present value of approximately US$210 million, the Hellyer Mine is a flagship project for NQ Minerals.
The company aims to commence production by mid-2018, anticipating strong cash-flow and profitability from Hellyer. With a current 10-year Hellyer mine-life outlined, NQ Minerals plans to increase this as best possible to maximize shareholder value.
Drilling for large metal deposits in North Queensland; Mine development underway
NQ Minerals is also developing two exploration projects known as Ukalunda and Square Post, in North Queensland. These projects are both located in prospective mining districts that form part of the well-known Charters Towers Gold Province, where more than 20 million ounces of gold has been mined.
This is a region from which billions of dollars worth of metals have been produced, yet it remains vastly open for new discoveries and new mines to be developed. NQ Minerals is already outlining initial mine plans at the Sunbeam silver prospect at Ukalunda to provide additional cash flow to the company.
NQ Minerals has appointed a Nomad and are actively working with them and the legal and accounting advisers towards an application to list on AIM. NQ Minerals aims to increase its share liquidity and its ability to attract greater institutional and retail interest in the company’s shares to the benefit of its shareholders.
Hellyer project in Tasmania
Brian Stockbridge, chairman of NQ Minerals PLC, reviews their recent acquisition of the Hellyer gold mine
- Dr Michael Green, Growth Company & Resources analyst: SALOPIA – UKALUNDA
- NQ Minerals receives Mining Lease for Sunbeam Silver Mine
- Dr Michael Green, Growth Company & Resources analyst: SUNBEAM – UKALUNDA
- Conversion of Loan Notes
- NQ Minerals enters into a US$10 million funding agreement and Silver Purchase Agreement
- Dr Michael Green, Growth Company & Resources analyst: Highly cash generative tailings project is a sound foundation on which to build a substantial mining company
- Issue of Equity and Conversion of Loan Notes
- Correction: Equity Issue, Conversion of Loan Notes