logo-loader
viewNQ Minerals PLC

NQ Minerals PLC - Equity Issue

RNS Number : 1864P
NQ Minerals PLC
08 June 2020
 

For Immediate Release

 

8 June 2020

 

NQ Minerals Plc

(the "Company" or "NQ")

 

Equity Issue

 

London listed NQ Minerals Plc (AQSE: NQMI) (OTCQB: NQMLF), the base and precious metals producer from its Hellyer Gold Mine ("Hellyer") in Tasmania Australia, announces that it has raised £118,743 (gross) at 7.5 pence per share from a UK based Institutional investor and a group of private investors for general working capital purposes and the Company will issue 1,583,241 new ordinary shares ("Placing Shares") under this equity issue.

 

Admission and Settlement

 

Application has been made for the Placing Shares to be admitted to trading on the Aquis Stock Exchange and admission is expected to occur on or around 12 June 2020 ("Admission"). Upon Admission, the Company will have 346,752,991 ordinary shares of 0.1p each on issue, each carrying the right to one vote. There are no shares held in treasury.

 

The total voting rights in the Company will therefore be 346,752,991 and shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules. The placing is conditional upon the terms of a placing agreement and the shares being admitted to trading on the Aquis Stock Exchange.

 

-END-

About NQ Minerals

 

NQ Minerals is an Australian-based mining company which commenced base metal and precious metal production in 2018 at its 100% owned flagship Hellyer Gold Mine in Tasmania. Hellyer has a published JORC compliant Mineral Resource estimated at 9.25 Mt which is host to Gold at 2.57 g/t Au for 764,300 oz Au, Silver at 92 g/t Ag for 27,360,300 oz Ag, Lead at 2.99% Pb for 276,600 tonnes and Zinc at 2.57% Zn for 217,400 tonnes. In addition to these resources, the Hellyer assets include a large mill facility and full supporting infrastructure, including a direct rail line to port. The Company is also planning to re-open the historic high-grade Beaconsfield Gold Mine in Tasmania, which has a JORC 2012 compliant Mineral Resource Estimate of 1.454 Mt at 10.3 g/t Au for 483,000 ounces of gold. The Company regularly updates the market on Hellyer's operational and financial performance, and these updates can be views on NQ's website at www.nqminerals.com.

 

Competent Person's Statement

 

The information in this report that relates to the Hellyer Gold Mine is based on information compiled by Roger Jackson, an Executive Director of the Company, who is a 20+ year Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a Member of Australian Institute of Company Directors. Mr. Jackson has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of  Exploration results, Mineral Resources and Ore Reserves". Mr. Jackson consents to the inclusion of the data contained in relevant resource reports used for this announcement as well as the matters, form and context in which the relevant data appears.

 

For further information, please contact:

 

NQ Minerals plc:

David Lenigas, Chairman

[email protected]

 

Colin Sutherland, Chief Financial Officer
[email protected]

Tel: +1 416 452 2166 (North America)

 

Media Enquiries:

IFC Advisory Limited

Graham Herring/Tim Metcalfe

[email protected]

Tel: +44 (0) 203 934 6630 (United Kingdom)

 

Corporate Adviser:

First Sentinel Corporate Finance Limited

Brian Stockbridge / Liza Vasilyeva

Tel: +44 (0) 207 183 7407 (United Kingdom)

 

Corporate Broker:

VSA Capital Limited

Andrew Monk/Maciek Szymanski

Tel:+ 44 (0) 203 005 5000 (United Kingdom)

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected]m or visit www.rns.com.
 
END
 
 
NEXEAFKXEESEEAA

Quick facts: NQ Minerals PLC

Price: 7.3

Market: AQSE
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

NQ Minerals chairman welcomes record production at Hellyer in July

NQ Minerals PLC's (AQSE:NQMI) chairman David Lenigas caught up with Proactive London's Andrew Scott after revealing they produced record levels of metals concentrate from its Hellyer Gold Mine in Tasmania in Australia during July. The new plant at Hellyer delivered throughput of 106,365 tonnes...

1 week, 4 days ago