NQ Minerals Plc (AQSE:NQMI), the base and precious metals producer from its 100% owned flagship Hellyer Mine and the 100% owner of the Beaconsfield Gold Mine, both in Tasmania, Australia, has reported its First Quarter 2021 provisional and unaudited operating financial results and production results from NQ’s wholly owned subsidiary Hellyer Gold Mines Pty Ltd. These results do not factor in associated costs at the Plc level.
Provisional First Quarter 2021 Unaudited Financial Summary:
(Note: Results reported in Australian dollars (“A$”))
Mining and processing operations at Hellyer realised provisional First Quarter 2021 gross revenues of A$17.9m, operating profits from operations of A$9.7m and net income of A$4.8m for the period from 1 January 2021 to 31 March 2021.
A major capital works programme at Hellyer to construct the new circa A$15m Hellyer tailings storage facility (TSF2) was essentially completed by the end of the quarter. Worthy of note is that tailings from the Hellyer plant started flowing into TSF2 in the second week of this month and came in 17% under its original budget, which was an exceptional achievement from the site management teams.
Note: These unaudited results may vary post audit completion.
NQ Minerals’ Chairman, Mr David Lenigas, said:
“Hellyer achieved another strong financial performance for the first quarter this year. The completion of the new A$15 million Stage 1 TSF tailings dam was a major technical achievement on site and stands the project in good stead for the future.”