In September, the Hellyer project moved into the commissioning phase; the mining and exploration company successfully commenced tails dredging and pumping slurry from the main tailings dam to the Hellyer Mill, as well as commissioning of the base metal flotation circuit at the mill.

The fist concentrate has now been delivered to Traxys Europe under a standing offtake arrangement signed in August 2018.

According NQ Minerals, payment from Traxys has been promptly received, which inaugurates the first operational cash flow generated by Hellyer operation since it started its production in September.

Brian Stockbridge, non-executive chairman of NQ Minerals, said: "We are pleased to receive our first payment for the first shipment of concentrate from our Hellyer project in Tasmania, Australia.

"This now represents the start of positive cash flow at Hellyer for at least the next 10 years. Again, we are very proud of the management and team at Hellyer, and the efforts made to move the low-risk and low cash cost project into production. The cash flow will certainly provide many opportunities for Hellyer over the next ten years."