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Horizon Minerals Ltd ( (AU:HRZ) ) has issued an update.
Horizon Minerals Ltd has announced a proposed merger with Poseidon Nickel Limited and a $14 million placement to facilitate the processing of Horizon’s in-ground assets at Poseidon’s Black Swan processing plant, which will be refurbished and repurposed for gold production. The company reported the commencement of gold production activities at the Boorara and Phillips Find gold projects, with the first gold pour under an Ore Sale Agreement and the start of haulage to the Paddington Mill. A prefeasibility study for the Penny’s Find Underground Gold Project has been completed, projecting a free cash flow of $24 million. The merger is expected to enhance Horizon’s operations and market positioning, with significant implications for stakeholders as it aims to bolster its gold production capacity.
More about Horizon Minerals Ltd
Horizon Minerals Limited (ASX: HRZ) is an exploration and gold production company located in the Kalgoorlie and Coolgardie regions of Western Australia. The company focuses on near-term gold production and exploration across a significant tenement package of 928 km². In addition to its gold resources, Horizon holds various multi-commodity assets, including the Nimbus Silver Zinc project and a 50% stake in the Mt Thirsty Nickel Cobalt Manganese project, as well as investments in Richmond Vanadium Technology.
YTD Price Performance: 0%
Average Trading Volume: 20,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €43.31M
See more data about HRZ stock on TipRanks’ Stock Analysis page.
