Horizon Minerals Ltd (AU:HRZ) has released an update.
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Horizon Minerals Ltd has completed a prefeasibility study for its Pennys Find Gold Project, revealing a financially viable underground mining operation capable of producing 33.5koz of gold over 23 months. With a projected free cash flow of $24 million at a gold price of A$3,600/oz and all necessary permits in place, the project is set to capitalize on the strong gold market. Pennys Find, along with other Horizon projects, offers promising development opportunities in Western Australia’s goldfields.
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