New Century Resources Ltd (ASX: NCZ) – a $640 million market cap mineral exploration company based in Western Australia – will restart its Century mine operations in August 2018 as part of plans to become a global top 10 producer of zinc.
In a North American investor presentation, New Century detailed its Century mine was on track for first production in August with a focus on site rehabilitation and the utilisation of existing infrastructure.
A feasibility study is underway to determine a possible mine life expansion at the site and further exploration potential, but the project restart is fully-funded and poised to take full advantage of the forecast for a 2% annual increase in global demand for zinc.
New Century base metal peers include Sandfire Resources NL (ASX: SFR) whose shares have dropped back today, down 1.8% to $9.52, despite printing a 52-week share price high on June 12 when its shares hit $9.91.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.