Oakmount and Partners Ltd. NQ Minerals update
Posted on 14th January 2020 at 13:06
NQ Minerals books just under A$54mln in revenue in its first year of operations.
NQ Minerals PLC (LON: NQMI) (OTCMKTS: NQMLF) generated A$15.5mln in revenue and gross profits of A$7.4mln during the fourth quarter of 2019.
In a statement, the NEX-listed firm said base and precious metals production from the flagship Hellyer mine amounted to 8,160 tonnes of lead concentrate and 4,904 tonnes of zinc concentrate, while full-year revenues amounted to just under A$54mln.
"2019 has been a transformational year for NQ Minerals,” said NQ’s chairman David Lenigas.
“Improvements at the operational level have translated into 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 were undertaken to secure the mineral deposits below Hellyer position us to create significant value in the near and long term,” he added.
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