Improved tonnage throughput from the mining and processing operations at Hellyer realised provisional FY20 gross revenues of AUS$63.3 million, operating profits from operations of AUS$24 million and net income of AUS$22.7 million to 31 December 2020.
Worthy of note is the progress on the TSF2 construction with a 2020 yearly CAPEX spend of AUS$8.8 million representing 60.8% completion to 31 December 2020. Note: These unaudited results may vary post audit completion.
NQ Minerals’ Chairman, David Lenigas, said: “Hellyer’s strong financial performance last year was driven by increased tonnage and steadily improving commodity prices, and when we consider that the operations were only turned up from around 110 tph to 150 tph through the plant in the middle of the year and around 180 tph in December, these results were excellent.
“4Q20 was especially pleasing, with gross revenues of AUS$19.2 million, operating profits of AUS$9.4 million and net income of AUS$7.4 million. This performance was largely due to the Hellyer plant throughtput rates increasing to 180 tph when permissible, noticeably reducing unit operating costs into an overall stronger commodity price environment.”
