The Hellyer project in Tasmania now offers significant ongoing cash flow as the company works on its two exploration projects, Ukalunda and Square Post in North Queensland, Australia.
Revenue for 2018 totalled £3.25mln, compared to zero revenues the year before.
It is still early days for the company, however, and as might be expected for an outfit at this stage of its development, it is currently loss-making.
The loss on ordinary activities before taxation widened to £25.6mln from £17.2mln the year before.
The company ended 2018 with net debt of £39.0mln, which had deepened to £41.7mln at the end of May.
“The current environment poses ongoing challenges with respect to fundraising for junior mining companies; however, I am optimistic about the company's prospects going forward, and look forward to achieving our long term goals,” said NQ’s chairman, Brian Stockbridge.
April 2019 Record Production and Sales Results https://t.co/wVXGR7VGzu— NQ Minerals PLC (@NQ_Minerals) May 8, 2019