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NQ Minerals PLC - Financing for Beaconsfield Gold Mine

RNS Number : 1873S
NQ Minerals PLC
07 July 2020
 

NQ Minerals Plc

NQ Announces Financing for Beaconsfield Gold Mine

 

London, United Kingdom - July 7, 2020 - NQ Minerals Plc (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY) ("NQ" or the "Company") announces that it has raised £917,485 (gross) at 6.5 pence per share for general working capital purposes and to accelerate the re-opening of the Beaconsfield Gold Mine in Tasmania, Australia

 

The Company acquired the Beaconsfield Gold Mine as announced on June 29, 2020.  The Company will issue 14,115,154 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 Exchange and admission is expected to occur on or around 11 July 2020 ("Admission").  Upon Admission, the Company will have 360,868,145 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 360,868,145 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 Exchange.

 

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. Regular updates on the progress of the Hellyer Gold Mine and Beaconsfield can be viewed on NQ's website at www.nqminerals.com.

 

For more 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/
 Gabrielle Cordeiro
Tel: +44 (0) 207 183 7407 (United Kingdom)

Corporate Broker
VSA Capital Limited
Andrew Monk/Maciek Szymanski
+ 44 (0) 203005 5000 (United Kingdom)

 

The Following section relates to NQ Minerals Plc's news releases distributed in the United States:

 

Cautionary Note to US Investors 

 

The United States Securities and Exchange Commission ("SEC") permits US Mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce.  Any estimates of mineral resources shown in this press release or on NQ Minerals PLC's website have been prepared in accordance with definition standards of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves produced by the Australasian Joint Ore Reserves Committee, which may differ from definition standards of the United States Securities and Exchange Commission ("SEC") Industry Guide 7. We may use certain terms which the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC.   

 

Cautionary Note Regarding Forward-Looking Statements


This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements based on current expectations, estimates, forecasts, and projections, including those related to our growth strategy, mineral estimates and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to exploration, development and/or extraction; our ability to obtain, perform under, and maintain financing and strategic agreements and relationships; our ability to attract, integrate, and retain key personnel; global demand for mineral resources; our need for substantial additional funds; government regulation; as well as other risks. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

 

 


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] or visit www.rns.com.
 
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