NQ Minerals reports its FY20 provisional unaudited financial results from Hellyer

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 northern Tasmania, Australia, has reported its 2020 Full Year 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 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.

Worthy of note is the progress on the TSF2 construction with a 2020 yearly capex spend of A$8.8m representing 60.8% completion to 31 December 2020. Note: These unaudited results may vary post audit completion.

NQ Minerals’ Chairman, Mr David Lenigas, said:

“Hellyer’s strong financial performance last year was driven by increased tonnage and steadily improving commodity prices, and when we consider that the operations were only turned up from around 110 tonnes per hour (“tph”) to 150 tph through the plant in the middle of the year and around 180 tph in December, these results were excellent.

“The last quarter (Q4) of 2020 was especially pleasing, with gross revenues of A$19.2m, operating profits of A$9.4m and net income of A$7.4m. This performance was largely due to the Hellyer plant throughtput rates increasing to 180 tph when permissible, noticeably reducing unit operating costs into an overall stronger commodity price environment.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    Twitter
    LinkedIn
    NQ Minerals Plc

    More articles like this

    NQ Minerals Plc

    NQ Minerals now dual listed on the Frankfurt Stock Exchange

    NQ Minerals Plc (AQSE:NQMI), the green mining company with significant mining operations in Tasmania Australia, is pleased to announce the Company’s ordinary shares are now dual listed on the Frankfurt Stock Exchange (“FSE”). Trading commenced today

    NQ Minerals Plc

    NQ Minerals a very active year for news and growth (Interview)

    NQ Minerals plc (AQSE:NQMI) Executive Chairman David Lenigas joins DirectorsTalk to discuss the 2020 year-end operations update. David talks us through the highlights, expands on production rates that are better than originally forecast, tells us more about

    NQ Minerals Plc

    NQ Minerals sign a $55 million loan facility with ING Bank

    NQ Minerals Plc (AQSE:NQMI) has announced that its subsidiary Hellyer Gold Mines Pty Ltd and ING Bank N.V. have signed a US$55 million loan facility. The Company’s intention with respect to this facility was previously announced

    NQ Minerals Plc

    NQ Minerals raises £337,000 in equity raise

    NQ Minerals Plc (AQSE:NQMI), the base and precious metals producer from its Hellyer Gold Mine in Tasmania Australia, has announced that it has raised £337,000 (gross) at 7p per share from a UK based Institutional investor and a

    NQ Minerals Plc

    NQ Minerals see big jump in revenues and gross profits (Interview)

    NQ Minerals plc (AQSE:NQMI, OTCQB:NQMLF, US ADR OTCQB:NQMIY) Executive Chairman David Lenigas joins DirectorsTalk to discuss production results and unaudited financial results for its wholly owned Hellyer Gold Mines Pty Ltd. David talks us through the highlights,