NQ Minerals plc (AQSE:NQMI) Chairman David Lenigas joins DirectorsTalk to discuss the acquisition of the Beaconsfield Gold Mine in Tasmania, Australia. David talks us through the highlights, explains what it means for the business and what else we can expect from the company over the coming months.
NQ Minerals is an expanding base and precious metals production and exploration company with its operations centered around its Hellyer Operations in Tasmania, Australia.
In 2015, the company listed in London based on a portfolio of historically proven gold and silver exploration assets in Northern Queensland. In 2017, the Company acquired the Hellyer Gold Mine in Tasmania and subsequent to proving a Reserve of over 8 million tonnes, commenced reprocessing of high grade tailings. During late 2018, the Company commenced production of lead, zinc and precious metal concentrates. Hellyer has now achieved commercial production, exceeding originally anticipated metallurgical performance and plans are in place for further expansion.
The Company is currently focussed on further exploration, mining and processing opportunities in Tasmania. These include the proposed development of a new nickel/cobalt mine and processing facility, that will enable further commercialisation of the residual material from the reprocessing of Hellyer-tailings. At the same time the Company is advancing the development of its Northern Queensland properties to bring these into commercial operation.
