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Lenigas takes over chair at NQ Minerals

 NQ is in advanced talks to replace on more favourable terms all the debt raised to re-start operations at the Hellyer mine in Tasmania.

NQ Minerals PLC -
Hellyer's operations continue to improve,

Serial entrepreneur David Lenigas is to take over the chair at Australia-focused mining group NQ Minerals PLC (LON:NQMI).

The Aussie replaces Brian Stockbridge, who has retired from the board.

 NQ added it is also in advanced talks to replace on more favourable terms all the debt raised to re-start operations at the Hellyer mine in Tasmania.

Lenigas said Hellyer's operations continue to improve, with lead concentrate production of 2,331 tonnes and zinc concentrate production of 1,651 tonnes in October.

This was ahead of estimates and resulted in revenue for the month of A$5.25mln with an operating profit of A$1.6mln.

For the ten months to 31 October, the mine generated unaudited turnover of A$43.7mln with an operating profit of A$9.1mln.

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Price: 7.6 GBX

NEX:NQMI
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