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NCZ, NEW CENTURY RESOURCES LIMITED
blacksheep
post Posted: Dec 7 2018, 07:25 PM
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You would think NCZ would be a source for zinc concentrate - subject to meeting specification of course? Both operating in the same state/far north Qld
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$300 million zinc refinery expansion to increase production and jobs in north Queensland
ABC North Qld By Sofie Wainwright

QUOTE
Zinc production is set to increase in Australia with a multi-million-dollar investment to expand a north Queensland refinery.

Korea Zinc Company will spend $300 million on its Australian subsidiary, Sun Metals Corporation, which owns a zinc refinery just outside of Townsville.

The expansion is expected to increase the refinery's zinc production from around 225,000 tonnes per year to 270,000.

Sun Metals said work would begin immediately and was expected to be complete by the first half of 2021.

"As an organisation we've been working on this very hard for the last 18 months," Sun Metals' executive director Kathy Danaher said.

https://www.abc.net.au/news/2018-12-07/sun-...ansion/10594492
https://www.shortman.com.au/stock?q=ncz
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 22 2018, 09:02 PM
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In Reply To: blacksheep's post @ Nov 14 2018, 08:33 PM

NCZ gets a mentioned in this article
extrac
QUOTE
Metal Squeeze

The current LME squeeze marks a period of peak tightness for the zinc market, one that has been building for several years.

Fund money initially chased this story before the story-line switched to the new mine capacity being brought on line in reaction to higher prices.

However, just as the mine crunch has taken its time to play out, so too will the new supply surge.

Take the example of New Century Resources which is bringing the Century mine in Australia back into production.

The closure of Century in 2016 fired the starting gun on zinc’s rally from the $1,500 level. Century’s phoenix-like rebirth under the stewardship of New Century has been equally totemic of the shift in market narrative.

But New Century has only just completed its maiden shipment of zinc concentrates. Evidently, it will take time for Century to ramp up and longer still for that flow of raw material to make a significant impact on the refined metal section of the supply chain.


http://www.mining.com/web/zinc-market-ente...ness-andy-home/

and NCZ's off take customer, Nystar, here

Nyrstar's funding lifeline doesn't help State Government's $300 million problem
QUOTE
Funding boost a 'positive': Treasurer
State Treasurer Rob Lucas said the announcement of further funding for Nyrstar was "positive" but confirmed the details of the deal would be scrutinised by the State Government.

"Whilst this doesn't directly impact on the SA Government's $291.25 million guarantee it nevertheless will provide Nyrstar with additional time to conclude their previously announced capital structure review," Mr Lucas said.

"However, with respect to the security granted to Trafigura to support the new working capital facility, this is not prohibited by the state's financing documents.

"This is because it is a security granted by Nyrstar Hobart Pty Ltd and not Nyrstar Port Pirie Pty Ltd.

"However, any enforcement by Trafigura effecting a share sale of Nyrstar Port Pirie Pty Ltd would require the state's consent to avoid the acceleration of the debt related to the Nyrstar Port Pirie Pty Ltd perpetual securities."

read more - https://www.abc.net.au/news/2018-11-21/nyrs...rantee/10520204



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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 14 2018, 08:33 PM
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In Reply To: blacksheep's post @ Nov 14 2018, 10:51 AM

Nystar is cutting staff at Port Pirie also

Nyrstar to cut jobs at Port Pirie smelter amid concerns about the company's financial outlook
By Patrick Martin
Updated 16 minutes ago
QUOTE
Nyrstar will cut 120 jobs from its Port Pirie lead smelter next year, as concerns grow about the Belgian company's finances and ability to repay a nearly $300 million SA Government loan.

Key points:
Job cuts at Port Pirie lead smelter confirmed by Nyrstar
Reductions to come through natural attrition and not renewing contracts
Company's financial difficulties could affect State Government loan
Last week, the Australian Workers Union (AWU) went public with concerns 100 jobs were on the line at the smelter, which is one of the world's largest.

https://www.abc.net.au/news/2018-11-14/nyrs...melter/10498108




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 14 2018, 10:51 AM
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In Reply To: nipper's post @ Nov 14 2018, 10:27 AM

The Mercury - local paper - also carried the story - Huge debt, share price plunge sparks fears for future of Hobart zinc works The Mercury · 12 hours ago

Only a matter of time before they close that site, IMHO.

QUOTE
Mr Midson echoed concerns about continued staffing reductions and a lack of investment in safety and maintenance, and said he raised the concerns with the general manager last week.

Nyrstar cutting jobs gradually

Nyrstar has indicated it plans to continue reducing the workforce at the Hobart smelter.

A company spokeswoman said gradual reductions were occurring in the Hobart workforce, and natural attrition and voluntary redundancy were the preferred reduction methods.

She pointed out that close to 50 per cent of the workforce was aged over 50.

"Great care is being taken to minimise the impact on employees, and a thorough consultation process is being undertaken before any changes are implemented," she said.

A government spokesman said if the smelter was to close, legacy environmental issues would be dealt with through a decommissioning and rehabilitation plan with the Environmental Protection Authority, but it is unclear whether the Government or Nyrstar would be responsible.

Nyrstar said it had invested in some alternative projects after deciding not to proceed with the loan guaranteed by the Tasmanian Government.

The company has operations in Europe, the USA, and Australia.


https://www.abc.net.au/news/2018-10-18/nyst...e-fall/10388344





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 14 2018, 10:27 AM
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In Reply To: blacksheep's post @ Nov 14 2018, 10:07 AM

The ageing Nyrstar refinery - formerly EZ - at Risdon, near Hobart, must be feeling the lack of reinvestment. From 3,000+ employees a few decades after, it's down to sub-500.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Nov 14 2018, 10:07 AM
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In Reply To: blacksheep's post @ Oct 25 2018, 08:39 PM

QUOTE
Posted Oct 25 2018, 09:39 PM - Nyrstar NV shares have plunged to record lows as falling zinc prices squeeze profit and drive worries about its huge pile of debt


Article in today's The Australian - Zinc cost and debt crippling Nystar - suggests ABN Amro analyst slashed his target for Nystar to just Euro 0.01 (1.6c) a share - valuing the company near worthless. The stock was trading @ more than E16.00 in 2015, E7.35 a year ago and since the ABN report has dropped to E0.63. Nystar could be pushed into a debt for equity swap with major s/h Trafigura and that could result in a "full wipe out" of Nystar's equity

Also mentions Nystar being an off take partner for NCZ



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Oct 31 2018, 03:03 PM
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EXECUTION OF $40M DEBT FACILITY WITH NATIONAL AUSTRALIA BANK
QUOTE
New Century Resources Limited (ASX:NCZ) is pleased to announce that it is has executed
documentation for the A$40 million senior secured debt and bank guarantee facility with National
Australia Bank (ASX:NAB) (the Debt Facility).

As part of the execution of all material Debt Facility documentation, MMG Limited (ASX:MMG) has
entered into a subordination and priority deed, with NAB taking a senior secured debt position.
Final key terms of the Debt Facility are summarised on page 3 of this announcement.

https://www.asx.com.au/asxpdf/20181031/pdf/...w3y3whmnvch.pdf

https://www.shortman.com.au/stock?q=ncz
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 25 2018, 08:39 PM
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In Reply To: blacksheep's post @ Feb 26 2018, 12:18 PM

Article re one of NCZ's customers - Nyrstar - doesn't sound positive

Trafigura's Bold Bet on Zinc-Maker Nyrstar Keeps Getting Uglier
By Andy Hoffman and Jack Farchy
October 25, 2018, 8:26 PM

QUOTE
Nyrstar NV shares have plunged to record lows as falling zinc prices squeeze profit and drive worries about its huge pile of debt. Nyrstar, which is scheduled to publish its third-quarter report next week, has 340 million euros of bonds ($388 million) maturing in September next year that analysts at ABN Amro Bank NV and ING Bank say the company may struggle to refinance.

https://www.bloomberg.com/news/articles/201...-getting-uglier

extract from pNCZ's ann re offtake agreement between the two
QUOTE
26 February 2018
Nyrstar NV (“Nyrstar”) (EBR:NYR) and New Century Resources Limited (“New Century”) (ASX:NCZ)
are pleased to announce the execution of a binding term sheet for a new 5.5 year offtake agreement
covering 600,000 dmt of zinc concentrate produced from the Century Zinc Mine in Australia.

The term sheet for offtake includes a variable tonnage allocation to Nyrstar of 250,000 dmt of zinc
concentrate for the first 3.5 years, rising to 350,000 dmt for the final two years of the offtake agreement. This
represents approximately 15% and 35% respectively of the scheduled production.
New Century remains on
track for its first zinc concentrate production in Q3 2018. Terms of the offtake remain confidential but are
highly attractive to both parties.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 3 2018, 11:05 AM
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In Reply To: blacksheep's post @ Oct 2 2018, 09:03 PM

Patersons put out a research note yesterday - a couple of extracts.

QUOTE
CONCENTRATING ON SILENCING THE CRITICS
Concentrate is now in the shed, with c $27m in pre-sales and
production received, and first shipment remaining on track for
the end of this month. NCZ has beaten even the most optimistic
supporter’s expectations on the speed of its ramp up today, the
only key milestones we await are the zinc recovery rates and
validation of concentrate specs by a third party.
Add to this a
much needed lift in the zinc price, and NCZ presents outstanding
value at current levels.


QUOTE
First concentrate shipments to China by the month end. MV Wunma
is due for imminent arrival back in Karumba in readiness for the first
shipment. We note that the offtake partners actually pay for product
when in the concentrate shed in Karumba, not when shipped
.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 2 2018, 09:03 PM
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According to this article extract
New Century zinc concs offtake delivery delayed to Dec; first output sold to China – sources
Published
Archie Hunter
Julian Luk
October 01, 2018
12:07 GMT
London

QUOTE
New Century zinc concs offtake delivery delayed to Dec; first output sold to China – sources
The first shipments of zinc concentrates from the Century Mine restart to offtake partners have been delayed until December due to overly high lead content, three sources with direct knowledge of the matter told Fastmarkets MB.

The project, which officially opened last month, generated 7,100 tonnes of zinc concentrates out of tailing reprocessing in September, according to a regulatory filing on Monday October 1. The site was once the world’s largest primary zinc mine. Fastmarkets MB understands the initial zinc concentrates produced by New Century have not met the specifications agreed for long-term offtake agreements between the company and partners Nyrstar, MRI, Mercuria, Transamine and Concord Resources. “The lead is very high so they can’t allocate it into their normal contracts [with offtake partners,” one source with knowledge of the dealings said. Accordingly, initial production at the tailings reprocessing facility has been sold on the spot market directly to Chinese smelter buyers. A total 20,000 tonnes of “commission grade” concentrates produced in September...

https://www.metalbulletin.com/Article/38356...inasources.html

Highlights from Yesterday's ann
QUOTE
CENTURY MONTHLY DEVELOPMENT UPDATE – SEPTEMBER 2018
• Revenue of $27.2M from zinc concentrate sales generated in September via:
o A$9.8M from production of 7,000t of zinc concentrate to date
o A$17.4M from the forward sale of 13,000t of October production
First concentrate shipment direct to China scheduled for the end of October 2018
• Hydraulic mining and processing plant performance ramp up tracking to schedule
• Successful operational restart of the slurry pipeline and port facility
• MV Wunma due for imminent arrival back in Karumba in readiness for first shipment
• $40M debt facility with National Australia Bank nearing completion


QUOTE
The Company has experienced strong demand for the ‘commissioning concentrate’ currently being
produced as part of the load commissioning process, as evidenced by the forward sale of 20,000t
of production, with demand for further commissioning grade product if made available.

Treatment charges for the forward sale are more attractive than most existing offtake contracts, including an
immaterial impurity penalty associated with silica and no penalties for any other elements




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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