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NQ Minerals plc

NQ Minerals Record Profits and Production for November at Hellyer Mine

NQ Minerals Plc (NEX: NQMI) (OTCQB: NQMLF), the base and precious metals producer from the Hellyer Gold Mine in Tasmania Australia, has today announced that November 2019 was an excellent month for production, with a provisional mine unaudited net profit before tax for November at a record A$2.44 million on revenues of A$5.64 million.

(Note: These numbers are with respect to the NQ’s Hellyer Gold Mines Pty Ltd only)

Hellyer Operations – Production Performance for November 2019

Mined tonnes:73,358 tonnes
  
Processed tonnes:73,532 tonnes
·     Lead grade %2.95%
·     Zinc Grade %2.08%
·     Gold Grade2.46 grams/tonne (“g/t”)
·     Silver Grade87 g/t
  
Lead Concentrates Produced2,780 tonnes
·     Lead Recovery %47.28%
·     Lead %36.93%
·     Gold grade5.18 g/t
·     Silver grade785 g/t
  
Zinc Concentrates Produced1,426 tonnes
·     Zinc Recovery %40.35%
·     Zinc Grade %43.25%
·     Silver grade191 g/t

David Lenigas, Chairman of NQ Minerals, commented:

“The Company is seeing excellent P&L and operational performance from its flagship Hellyer Mine in Tasmania. Work is continuing to improve lead and zinc recoveries and the prognosis for the full fourth quarter and into 2020 is looking strong.”

NQ Minerals is an Australian-based mining company which commenced production in Q4 2018 at its 100% owned flagship Hellyer Gold Mine in Tasmania. Hellyer has a published JORC compliant Mineral Resource estimated at 9.25 Mt which is host to Gold at 2.57 g/t Au for 764,300 oz Au, Silver at 92 g/t Ag for 27,360,300 oz Ag, Lead at 2.99% Pb for 276,600 tonnes and Zinc at 2.57% Zn for 217,400 tonnes. In addition to these resources, the Hellyer assets include a large mill facility and full supporting infrastructure, including a direct rail line to port. The Company anticipates strong cash-flow and profitability from Hellyer and has a portfolio of exciting exploration prospects.