LONDON, July 12, 2018 /PRNewswire/ -- NQ Minerals Plc (NEX:
NQMI; OTCQB: NQMLF) the "Company" or "NQ Minerals", an Australia based exploration and mining
company, is pleased to announce that its wholly-owned subsidiary, Hellyer Gold Mines Pty Ltd ("Hellyer"), has entered into two
marketing and off-take agreements, combined with a US$10,000,000 secured prepayment facility
agreement with Traxys Europe S.A.
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 5 years of concentrate
production. The agreements provide Hellyer access to Traxys's extensive global network and an experienced marketing and
distribution team for base metal concentrates.
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.
A full report on the status of Hellyer refurbishment activities can be found on the Company's website – www.nqminerals.com.
Commenting, 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. Traxys provide us with
commercial and logistic experience and expertise which complements our team as we progress towards a 2018 start of
operations."
About NQ Minerals and Hellyer
NQ Minerals Plc is an Australian based mining and exploration company focused on near-to-cash discoveries and acquisitions in
fiscally robust jurisdictions.
The Hellyer Project is based on the retreatment of tailings from previously mined VMS deposits in North West Tasmania. These tailings host a JORC compliant Reserve of 8.05Mt @ 2.57 g/t gold, 93 g/t silver,
3.05% lead and 2.55% zinc. The fully permitted retreatment project involves refurbishment of the existing site facilities in
order to extract and reprocess the full resource into lead, zinc and precious metal concentrates at very low operating cost.
NQ Minerals acquired Hellyer in May 2017 and following engineering, project planning and
fundraising activities commenced full time refurbishment of the dredging and processing plant in January
2018.
In addition to the Hellyer Project, NQ Minerals is developing the Ukalunda and Square Post properties in Northern Queensland.
About Traxys
Traxys S.A. provides distribution and financing solutions for base metals and concentrates, materials for steel mills and
foundries, minor and alloying metals, industrial minerals and chemicals, energy, and rare earths. The company, which is based in
Luxembourg, has locations in Belo Horizonte, Brazil;
Lima, Peru; Mexico City, Mexico; New
York, New York; Dusseldorf, Germany; Istanbul, Turkey;
Madrid, Spain; Moscow, Russian
Federation; Paris, France; Beijing and Shanghai, China; Hong Kong; New Delhi,
India; and Johannesburg, South Africa.
www.traxys.com
View original content:http://www.prnewswire.com/news-releases/nq-minerals-plc-offtake-agreement-and-prepayment-funding-for-the-hellyer-project-300680469.html
SOURCE NQ Minerals Plc