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NQ says Hellyer mine hits record quarterly production, designated “essential” by Tasmanian government

Hellyer has generated A$58mln in gross revenues since restarting in 2018

NQ Minerals PLC -

NQ Minerals PLC (LON:NQMI) produced 8,127 tonnes of lead and 4,609 tonnes of zinc from its Hellyer Gold Mine in Tasmania during the quarter ending March 31, 2020, and the mine has been designated “essential” by the Tasmanian government and is still operating during the current coronavirus pandemic.

It also produced 1,081 ounces of gold and 230,441 ounces of silver as payable precious metal credits in the lead and zinc concentrate streams.

The Aquis-listed company also started programmes to increase plant throughput during the quarter, with a systematic increase in the average production rate from 110 tonnes per hour to 122 tonnes per hour implemented by the end of the quarter. Further production rate increases are planned during the second quarter.

Hellyer has now produced 37,098 tonnes of lead concentrates and 27,192 tonnes of zinc concentrates since the mine started operations in September 2018, and has generated approximately A$58mln in gross revenues from start-up to the end of the fourth quarter of 2019.

"Operations at NQ's Hellyer operations have performed extremely well this quarter, especially considering the current global COVID-19 pandemic,” said chairman David Lenigas in a statement. 

“COVID-19 represents an unprecedented challenge for people, governments and businesses worldwide. The Tasmanian government responded quickly to the virus. Fortuitously, Hellyer is currently regarded by the Tasmanian government as an essential business during this critical period.”

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Price: 9.25 GBX

NEX:NQMI
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