New Century Announce $40 Million Placement, Completing Century Mine Restart

New Century (ASX:NCZ) have announced that a fully underwritten AU$40 million placement has been made, allowing the Century zinc mine in northwest Queensland to restart operations.

With the placement the company projects zinc concentrate production will commence in Q3 2018, on schedule according to the restart feasibility study, and in line with restart costs.

As highlighted in the press release:

Placement provides New Century with maximum flexibility, allowing for:

• acceleration of phase 2 ramp up to 15million tonnes per year;
• progression of exploration program and expansion study work; and
• implementation of a potential zinc price and exchange rate hedging facility.

New Century is well positioned for the near term evolution from mine developer to a globally significant zinc producer

Click here to view the full New Century Resources Limited (ASX:NCZ) press release.