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FINANCE VIDEO: New Century Resources - Feasibility Study Highlights Exceptional Operating Margins

01.12.2017  |  ABN Newswire
Sydney - New Century Resources (ASX:NCZ) has released a positive feasibility study for its Century Zinc Mine in Queensland. Highlights of that study include the following.

- Average EBITDA - $449 million (US$1.25/lb zinc price).

- Annual zinc production -- 264,000 tpa zinc metal.

- Throughput - 15 Mtpa.

- Operating costs (C1) - US$0.38/lb payable.

- Operating costs (AISC) - US$0.50/lb payable.

- Start-up capital costs - AU$50 million.

- First production - 3Q18.

Analyst comment: this was an excellent achievement for New Century, considering that the acquisition of the Century Zinc Mine was completed less than 6 months ago. Most of what the study revealed has been released in previous company announcements so there are no major surprises, but we believe three main points are worth reiterating.

- Low operating costs - the project's forecast AISC is US$0.50/lb, compared to the current spot zinc price of US$1.43/lb, making the operation one of the lowest-cost zinc projects globally.

- Zinc production - forecast production is 264,000 tonnes of contained zinc metal per annum, making the operation the fifth largest globally in terms of production. We believe that this, combined with the low operating costs, means the company's EBITDA margin will be greater than A$500 million per annum (US$1.40/lb zinc price).

- Fully funded to production - given the significant existing infrastructure, capital costs are forecast at $50 million, with a maximum cash drawdown of $62 million (including working capital). Funds of more than $100 million are available (current cash, plus Sprott debt facility), which means the company is fully funded to production and covered for any over-runs.

With the feasibility study now complete New Century's hard work begins, with production targeted for 3Q18. We look forward to further updates on the project's development in the interim, and note also that the company is assessing the potential to mine and blend its hard-rock resources with tailings; this, we believe, could add significant long-term value to the company.

To view the video, please visit:

About New Century Resources Ltd:

New Century Resources Ltd., formerly Attila Resources Limited, is a mineral exploration company based in Subiaco, Western Australia. The Company is engaged in review and development of mineral exploration projects. The Company's operating segments include Australia and the United States of America. The Company is engaged in developing the Kodiak Coking Coal Project, which is located in the Cahaba coal basin in Alabama, the United States. The Kodiak Coking Coal Project covers over 11,700 acres and comprises approximately two properties known as Gurnee and Seymour located in Shelby and Bibb Counties (respectively) in Alabama, the United States.

About The Sophisticated Investor:

The Sophisticated Investor is a new equity investment tool which seeks to assist investors in becoming more informed in their investment decision making. We show and tell investors about a company in a series of short, informative videos. We possess specialist equity analyst skills and are complemented by video professionals. We conduct site visits and interview management, in a way most investors simply aren’t able to access. We promote long term value creation for investors by employing detailed financial analysis and intrinsic value calculations.

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Source: New Century Resources Ltd. / The Sophisticated Investor


Adam Kiley Director
TSI Capital Pty Ltd
M: +61-404-945-234

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