NQ Minerals and its engineering consultant teams have commence an extensive due diligence programme on Beaconsfield as part of the acquisition agreement. NQ will be working with its consultants and relevant Government Departments in Tasmania to assess and ascertain what is required to re-open Beaconsfield as soon as possible.
- One of the Richest Gold Mines in Australia 1.8 million ounces of Gold Produced
- Permits in place
- Early Cash Flow Plans
Acquiring an established gold processing plant for a fraction of the cost to build and permit a new one, not to mention the typical lead time associated with permitting a new facility in Tasmania, is an exciting opportunity which provides our shareholders with exposure to the potential near term re-opening of a high-grade gold operation in Tasmania. Recent notable successes in re-assessing new potential around historic high-grade gold mining centres has seen significant value add for investors at projects like Fosterville in Victoria and Bellevue in Western Australia. In this regard, we believe that Beaconsfield offers a genuine opportunity for the Company to develop a high-quality gold asset.
Futhermore, the opportunity to bring Beaconsfield back into operation reinforces and builds on NQ’s existing activities, commitment to, and strategy in Tasmania. This project will leverage off the skills and experience developed during the successful fast track recommissioning and operation of the Hellyer Gold Mine and complement the development of the Barnes Hill nickel and cobalt mining and processing project. In particular the close location of the Barnes Hill project to Beaconsfield will enable shared capital and operating costs reducing the implementation timelines and costs for both opportunities.
Beaconsfield Gold Mine Purchase
- 7.0m at 21.7 g/t gold (hole F91 at ~1220m depth)
- 11.0m at 15.4 g/t gold (hole F88 at ~1235m depth)
- 24.3m at 8.8 g/t gold (hole J17 at ~1240m depth)
- 6.6m at 11.3 g/t gold (hole J14 at ~1255m depth)
- 2.5m at 32.4 g/t gold (hole J10 at ~1355m depth)
- Plant has proven track record (>90% gold recovery).
- Fully permitted tailings dam.
- Experienced local workforce.
- Early cash flow from plant recommissioning plans with retreatment of surface stockpiles.
- 593 hectares of mining lease covering the famous Tasmanian Reef, open pit potential, new reef discovery potential and infrastructure.
- A new mine access decline is the key to re-opening Beaconsfield and providing for long-term low-cost operations for many years.
- Tasmania Reef drilled to 300m below mine depth. Still Open.
Beaconsfield Gold Processing Plant
- Only permitted gold processing plant in North Tasmania.
- Processing capacity 350,000 tpa.
- Comprises crusher, Ball Mill, Gravity Gold Circuits, Flotation, Bacterial Oxidation, Cyanide Leaching, Cyanide Detoxification.
- Process plant can treat both free milling and refractory material.
- Fully permitted.
- Replacement value today of over $80 million.