New century ressources, New zealand , has great half year results&looks forward to even better...

Discussion in 'Penny Stocks' started by Intern shIp, Jul 19, 2020.

  1. Intern shIp

    Intern shIp Member

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    New Century Resources (ASX:NCZ) increases zinc production by 22pc for June quarter
    Materials
    ASX:NCZ MCAP $195.7M
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    Managing Director, Patrick Walta (left)
    Source: North Queensland Register
    • New Century Resources (NCZ) has announced a 22 per cent increase in production from its Century Zinc Mine in Queensland this June quarter
    • In total, around 34,500 tonnes of zinc was produced from the mine
    • Along with the increased production result, the company also decreased costs by 17 per cent
    • This marks New Century's seventh consecutive quarter of delivering increasing production and decreased costs
    • Shares in the company closed 5.71 per cent in the green, at 18.5 cents each

    Base metal producer New Century Resources (NCZ) has announced a 22 per cent increase in production this quarter, from its Century Zinc Mine in Queensland.

    In total, the Century Zinc Mine produced around 34,500 tonnes of zinc in the June quarter.

    This marks New Century's seventh quarter in a row where it has delivered increased production, as well as decreasing costs.

    "Despite the COVID-19 pandemic, operations at Century continue to ramp up and have again delivered record production in the June quarter," said New Century Managing Director Patrick Walta.

    "We are pleased to declare commercial production at the operation, with the Century Mine now re-established as a top 10 zinc producer just 3 years since being shut down for closure," he added.

    Along with the 22 per cent increase, the company decreased costs by 17 per cent in the June quarter. Costs are now sitting at around US$0.79 (approximately A$1.13) per pound of a payable metal on an unreconciled basis.

    New Century has also announced transitioning from using contractor services to full owner-operator services on both its hydraulic mining and processing plant operations.

    Additionally, due diligence is continuing on the Goro Nickel & Cobalt Mine, as the company is looking to acquire it.

    Shares in New Century closed up 5.71 per cent today, trading for 18.5 cents each.
     
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  2. Intern shIp

    Intern shIp Member

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    Article from https://www.australianmining.com.au/news/zinc-price-rebound-anticipated-amid-unstable-market/


    Zinc price rebound anticipated amid unstable market
    July 6, 2020News Nickolas Zakharia
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    New Century Resources processes tailings at Century mine.

    Latest News
    Despite current volatility, zinc prices have been forecast to climb in the coming months as COVID-19’s strain on the market eases.

    New Century Resources today expressed confidence in the commodity while reporting record company production at the Century zinc mine in Queensland during the June 2020 quarter.

    The company, which has declared commercial production at Century, had a 22 per cent increase in zinc metal output to around 34,500 tonnes. It also achieved a 17 per cent decrease in direct costs to approximately US$0.79 ($1.13) per pound of payable metal.

    New Century managing director Patrick Walta noted positive conditions emerging for zinc miners, expecting a price rebound due to an increase in building projects across the globe to boost economies following COVID-19.

    “From a market perspective, despite the zinc price remaining near four-year lows, a strong decline in spot treatment charges in the quarter has improved conditions for zinc miners,” he said.

    “The company also sees potential for a price rebound due to additional metal demand from increased global infrastructure development linked to COVID-19 government stimulus.”

    Fitch Solutions forecast that zinc prices “will likely edge higher in the coming months” as the negative shock to global demand from the COVID-19 outbreak wanes.

    “As of June 22, three-month LME zinc had already recovered by 14.7 per cent from a March low of $US17,844/tonne and we expect a further rebound in the coming months,” Fitch Solutions said.

    However, Fitch lowered its 2020 zinc price forecast last week, down from an expected $US2550 ($3660) per tone to $US2100 per tonne.

    According to Fitch Solutions’ zinc report, it is expected that a long-term downtrend in zinc production will remain due to a market surplus.

    Zinc production is expected to increase by 2.1 per cent in 2020 with a 0.1 per cent consumption growth decrease.

    A total surplus of 71,000 tonnes of zinc is expected for 2020, compared to a deficit of 189,000 tonnes in 2019.

    “Prices will remain on a long-term downtrend as the market surplus that emerges in 2020 persists into the long term,” Fitch stated.

    “This structural decline will be driven by sluggish growth in global steel production, as galvanising steel is the primary use of zinc.”

    At the Century operation, Walta said New Century continued to ramp up production despite COVID-19 and had again delivered record output in the June quarter.

    “Century has now achieved seven consecutive quarters of increasing production and lowering costs, and the company remains focussed on continuing this trend,” he said.
     
  3. Intern shIp

    Intern shIp Member

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    https://ca.proactiveinvestors.com/c...ion-of-australian-silver-projects-931612.html

    A key player just bought a silver mine from the nearby area. This might be the cause for more competition. They're from British Columbia and specializing in the acquisition of mining properties. The stock was worth 40 cents in august and is up to 90 now.


    Walcott Resources closes acquisition of Australian silver projects
    The acquisition provides the Canadian company with two highly prospective silver projects in New South Wales and Queensland.

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    Both n ew projects are in silver producing regions
    Walcott Resources Ltd (CNSX:WAL) (OTCMKTS:WALRF) (FRA:WR2) has closed the acquisition of 60% 1256714 B.C. Ltd, which has a 100% interest in two Australian projects - Tyr Silver Project in New South Wales and Century South Silver-Zinc Project in Queensland.

    This acquisition will provide Walcott with an interest in the two highly prospective silver projects at a time of highly encouraging silver market fundamentals.
    A share exchange agreement was entered into between the parties in August with the target company owning 100% of the two projects, subject to a 2% net smelter royalty (NSR).

    Tyr Silver Project
    Tyr Silver Project in northern New South Wales covers around 300 square kilometres area and has two historic silver mines - Burra and Torny - with potential for high-grade silver zinc-lead-tin mineralisation.

    The Tyr project comprises minimal use, hilly pastoral land, mostly cleared and lightly forested.

    This tenement was granted in March 2018 and is due for renewal in March 2024.

    Tyr delivers upside potential with mineral occurrences apparent along a northwest trend, which is part of a large-scale system that includes historic silver mines.

    Century South Silver-Zinc Project
    Century South Silver-Zinc Project, in the Mt Isa Basin of northwest Queensland, is under-explored but in a highly prospective region and along strike from one of the world's largest silver-zinc mines.

    The project is around 8 kilometres southeast of the New Century Zinc Mine and covers an area of around 250 square kilometres comprising hilly and open savannah country.

    The tenement was granted in October 2018 and is due for renewal in October 2023.

    According to the company, both the projects are near established mining infrastructure and with transport access to port.

    Transaction details
    In line with terms of the definitive agreement, Walcott acquired 60% of the outstanding shares of the target company in consideration for issuing 15 million common shares of the company at C$0.305 cents a share.

    Walcott also issued 675,000 common shares to arm's length third party finders in connection with the transaction at the same price per share.

    These shares are subject to a four-month and one day hold period under the applicable securities laws.

    Walcott clarifies that this is an arms-length transaction and there will be no change in the management or the board of directors.

    The company
    Walcott is a British Columbia-based company involved in the acquisition and exploration of mineral properties.

    The company holds an option to acquire a 100% interest, subject to a 1.5% NSR, in the Cobalt Hill Copper-Gold-Cobalt Project, consisting of eight mineral claims and covering about 1,727 hectares in the Trail Creek Mining Division in Canada.
     
  4. Intern shIp

    Intern shIp Member

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    And they are upping the ante as prices are on the rise :D

    New Century drives up zinc production as prices rise
    October 21, 2020News Salomae Haselgrove
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    Overview of existing reserves and resources at the Century zinc mine. Image: New Century Resources

    Latest News
    New Century Resources plans to boost zinc production performance at the Century mine in Queensland by 40 per cent.

    The company is aiming to achieve consistent production performances of up to 12 million tonnes a year at 50–54 per cent recovery, which is up to a 40 per cent increase from the September quarterly average of around 10 million tonnes a year at 45 per cent recovery.

    New Century managing director Patrick Walta said New Century would continue its focus on increasing metal production while lowering unit costs to drive growth in the December quarter and beyond.

    “Macro-economic conditions for the industry continue to improve, providing strong tailwinds for New Century, with the zinc price rising above $US1.13 ($1.60) per pound for the first time since the onset of COVID-19,” Walta said.

    “In addition, spot treatment charges have plummeted to $US110 per tonne, their lowest level since Century (zinc mine) operations restarted.”

    The Century mine, which was shut three years ago for closure and has since been re-established as a top 10 global zinc producer, has experienced strong post-COVID-19 demand from China.

    Walta said there was still further opportunity to come yet from improved zinc market conditions.

    “The company sees opportunity for further improvement in the zinc price, with demand/consumption set to return in countries other than China as a result of infrastructure-focussed stimulus packages in response to the COVID-19 economic downturn,” he said.

    New Century’s technical services team continued optimisation studies over its South Block, Silver King and East Fault Block deposits, with strong in-situ mine plans, metal production profiles and projected operation costs.

    Once these studies are complete, the company will make a decision to mine in 2021, integrating the mineral resources of these deposits into its current life-of-mine production profile, providing the opportunity for an extended Century mine life.

    During the September quarter, New Century also prepared for the upcoming wet season in north Queensland, introducing various new water pumping initiatives to ensure minimal downtime.

    https://www.australianmining.com.au/news/new-century-drives-up-zinc-production-as-prices-rise/
     

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