NQ Minerals (NEX:NQMI), the base and precious metals producer from its flagship Hellyer Gold Mine in Tasmania Australia, has today announced its Fourth Quarter provisional and unaudited operating financial results and production results from NQ’s 100% owned subsidiary Hellyer Gold Mines Pty Ltd.
Provisional Q4 and 2019 Full Year unaudited financial Summary:
Improved operating conditions and metallurgical recoveries at Hellyer realised unaudited Q4 2019 gross revenues of A$15.5m (A$14.7m – Q3 2019) and gross profits from operations of A$7.4m (vs A$6.2m – Q3 2019) and operating profits of A$4.8m (A$3.9m – Q3 2019). These results do not factor in associated costs at the Plc level.
The results of operations have shown consistent and significant improvements on a quarter over quarter basis through 2019. This positive trend in operating results is illustrated as follows:
Table 1: Hellyer Gold Mine Pty Operating Results (In AUD)
| *Financial Results – 2019 | Q4 | Q3 | Q2 | Q1 | Full Year |
| Gross Revenues | $15.5m | $14.7m | $13.7m | $10.0m | $53.9m |
| Gross Profits | $7.4m | $6.2m | $5.3m | $2.4m | $21.3m |
| Operating Profit | $4.8m | $3.9m | $2.4m | $1.1m | $12.2m |
*Unaudited Financial Results, results may vary post audit completion. Hellyer Gold Mines Pty Ltd (“HGM”) operating results do not include royalty and financing costs incurred in NQ Minerals PLC and HGM.
Hellyer Mine Production Summary:
Fourth Quarter (“Q4”) production therefore also resulted in a record with 8,160 tonnes of lead concentrate and 4,904 tonnes of zinc concentrate production. Refer to Table 2.
Table 2: Hellyer Operations – Production Performance for Q4 2019.
| Reconciled Production | Q4 | Q3 | Q2 | Q1 | Full Year |
| Lead Concentrate (tonnes) | 8,160 | 6,656 | 5,452 | 4,712 | 24,980 |
| Zinc Concentrate (tonnes) | 4,904 | 3,310 | 4,416 | 3,015 | 15,646 |
| Pyrite Concentrate (tonnes) | 20,881 | 10,109 | 28,375 | 18,488 | 77,853 |
Note: Majority of Hellyer’s revenue (typically around 70%) is attributable to lead concentrates.
David Lenigas, Chairman of NQ Minerals, commented:
“2019 has been a transformational year for NQ Minerals. Improvements at the operational level have translated in to increased operating profits at Hellyer on a quarter over quarter basis. Since announcing commercial production in January of 2019, we have consistently delivered improvements to our operational results. The combination of improved financial results and strategic initiatives undertaken to secure the mineral deposits below Hellyer position us to create significant value in the near and long term.
