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NQ Minerals announces offtake agreement and prepayment funding for Hellyer project

The Australia-based exploration and mining company said the marketing and offtake agreements relate to the sale of all the lead and zinc concentrates to be produced from Hellyer project

NQ Minerals
NQ Minerals said the prepayment facility provides flexible pre-production funding to enable the completion of refurbishment of the Hellyer plant

NQ Minerals PLC (AQSE:NQMI) (OTCQB:NQMLF) has announced that its subsidiary Hellyer Gold Mines Pty Ltd has entered into two marketing and off-take agreements, combined with US$10mln secured prepayment facility agreement with Traxys Europe S.A.

The Australia based exploration and mining company said the marketing and offtake agreements relate to the sale of all the lead and zinc concentrates to be produced from NQ Minerals' wholly-owned Hellyer project located in Tasmania and cover the first five years of concentrate production.

READ: NQ Minerals says refurbishment of Hellyer Floatation plant continues to be on budget and on time for commissioning in August 2018

The firm said the agreements provide Hellyer access to Traxys's extensive global network and an experienced marketing and distribution team for base metal concentrates.

NQ Minerals said the prepayment facility, which is guaranteed by the company, provides flexible pre-production funding to enable the completion of refurbishment of the Hellyer plant and start-up working capital.

Brian Stockbridge, non-executive chairman of NQ Minerals, said: "This completes our start-up funding and creates a strong partnership with a leading global commodity trading organisation.”

He added: “Traxys provide us with commercial and logistic experience and expertise which complements our team as we progress towards a 2018 start of operations."

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Price: 7.3 GBX

AQSE:NQMI
Market: AQSE
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