NQ Minerals Plc (AQSE: NQMI, OTCQB: NQMLF, OTCQB:NQMIY), the base and precious metals producer from its Hellyer Gold Mine in Tasmania Australia, has announced that it has raised £274,805 (gross) at 7 pence per share from a UK based Institutional investor and a group of private investors for general working capital purposes and the Company will issue 3,925,789 new ordinary shares under this equity issue.
Admission and Settlement
Application has been made for the Placing Shares to be admitted to trading on the Aquis Exchange and admission is expected to occur on or around 21 September 2020. Upon Admission, the Company will have 381,120,917 ordinary shares of 0.1p each on issue, each carrying the right to one vote. There are no shares held in treasury.
The total voting rights in the Company will therefore be 381,120,917 and shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules. The placing is conditional upon the terms of a placing agreement and the shares being admitted to trading on the Aquis Exchange.
About NQ Minerals
NQ Minerals PLC is listed on the London’s Aquis Stock Exchange (AQSE) under the ticker NQMI and has it’s 1:100 ADR traded on the US OTC QB under the ticker NQMIY, and its ordinary shares are dual traded on the US OTC QB under the ticker NQMLF.
NQ Minerals operations are in Australia. NQ commenced base metal and precious metal production in 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 is also planning to reopen the historic high-grade Beaconsfield Gold Mine in Tasmania, which has a JORC (2012) compliant Mineral Resource Estimate of 1.454 Mt at 10.3 g/t Au for 483,000 ounces of gold.