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Perth, Oct 5, 2017 AEST (ABN Newswire) - New Century Resources (ASX:NCZ) has released a number of strong announcements in the past couple of months relating to their Century Zinc Mine in Queensland.

Highlights include:

- Resource upgrade - 79Mt at 3% Zn, 12g/t Ag (100% measured);
- Metallurgical recoveries - zinc recoveries of up to 64%;

- Project ownership - 100% ownership (previously 70%);

- Re-start study - due 4Q17 ; and

- Historical South Block drilling - multiple broad high-grade intercepts identified as an extension of the Century ore body - 26.4m at 8.1% Zneq. & 21.6m at 9.9% Zneq.

Analyst comment: Since listing just over two months ago, New Century has been one of the best performing stocks on the ASX, as their share price has risen from $0.34/share (SP when TSI initiated coverage) to currently be trading at $1.20/share. This is not surprising given the strong and continuous news flow released by company, as well as the zinc price reaching decade long highs of more than US$3,300/t (US$1.50/lb).

Given these announcements we reviewed and updated a number of our key assumptions, including our throughput rate (12Mtpa - TSI), zinc recoveries (60% - TSI) and head grade (3%Zn - TSI) assumptions, which increases our forecasted production to 216,000tpa of zinc metal per annum. At this production rate the Century mine would become the sixth largest zinc operations globally (2016 annual production - SNL).

The information in this email should not be the only trigger for your investment decision. We strongly recommend you seek professional financial advice whenever making financial investment decisions.

Valuation: We have increased our valuation for New Century Resources $3.03/ share.

To view the video, please visit:
http://www.abnnewswire.net/press/en/90253/NCZ


About New Century Resources Ltd

New Century ResourcesNew Century Resources Limited, 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.

 



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The Sophisticated Investor

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Contact

Adam Kiley
Director
TSI Capital Pty Ltd
M: +61 404 945 234
adam.kiley@tsicapital.com.au
www.thesophisticatedinvestor.com.au


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