The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The United States Securities and Exchange Commission ( SEC ) permits US Mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Any estimates of mineral resources shown in this press release or on NQ Minerals PLC s website have been prepared in accordance with definition standards of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves produced by the Australasian Joint Ore Reserves Committee, which may differ from definition standards of the United States Securities and
NQ Minerals Reports Hellyer Mine s 2020 Provisional Unaudited Financial Results: A$63 3 million - 2020 FY Gross Revenues A$24 0 million - 2020 FY Operating Profit A$22 7m theusnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theusnews.com Daily Mail and Mail on Sunday newspapers.
(2)
LONDON, UK / ACCESSWIRE / January 14, 2021 / London listed NQ Minerals Plc (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY), ( NQ or the Company ) the base and precious metals producer from its 100% owned flagship Hellyer Mine ( Hellyer ) and the 100% owner of the Beaconsfield Gold Mine, both in northern Tasmania, Australia, is pleased to report its 2020 Full Year ( FY ) provisional and unaudited operating financial results and production results from NQ s wholly owned subsidiary Hellyer Gold Mines Pty Ltd ( Hellyer ). These results do not factor in associated costs at the Plc level.
Provisional 2020 Full Year Unaudited Financial Summary:
(Note: Results reported in Australian dollars ( A$ ))
Improved tonnage throughput from the mining and processing operations at Hellyer realised provisional 2020 FY gross revenues of A$63.3m, operating profits from operations of A$24.0m and net income of A$22.7m to 31 December 2020.
Advertisement
NQ Minerals Plc, a base and precious metals producer from its 100% owned flagship Hellyer Mine and the 100% owner of the Beaconsfield Gold Mine, both in northern Tasmania, Australia, has announced its 2020 year-end operations update from the company’s 100% owned Hellyer Mine to the 31 December and an update on its Beaconsfield Gold Mine.
NQ Minerals’ Chairman, David Lenigas, said: “2020 was a highly successful and pivotal year for the company, having seen our flagship Hellyer operations finally achieve production rates better than originally forecast from the original mine start-up plan. Hellyer’s year end performance, and the revenue boosts associated with production rates of around 1.4 million tpy, were instrumental in securing a major US$55 million debt refinancing package for Hellyer. Efforts to improve Hellyer’s output will continue through 2021 and work there will move towards evaluating the potential of re-opening the underground operations. At our Be