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First concentrate produced and delivered from Hellyer project

Published by , Editor
Global Mining Review,

NQ Minerals Plc, a London listed company with Australia-based exploration and mining assets, has successfully produced from its Hellyer polymetallic operation in Tasmania, Australia its first lead, gold and silver concentrate lot, and delivered it to Traxys Europe SA under a standing offtake arrangement signed in August 2018.

Payment from Traxys has been promptly received, which inaugurates the first operational cash flow generated by Hellyer operation since it started its production in September 2018.

The full detailed report can be viewed on the company’s website.

Commenting, Brian Stockbridge, Non-Executive Chairman of NQ Minerals said: “We are pleased to receive our first payment for the first shipment of concentrate from our Hellyer project in Tasmania Australia. This now represents the start of positive cash flow at Hellyer for at least the next 10 years. Again, we are very proud of the management and team at Hellyer, and the efforts made to move the low risk and low cash cost project into production. The cash flow will certainly provide many opportunities for Hellyer over the next 10 years.”

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Australian mining news