Horizon Minerals (ASX: HRZ)

Announced the commencement of drilling at the high grade Burbanks project, located approximately 9km to the south of Coolgardie in the heart of the Western Australian Goldfields.

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Horizon Minerals Drilling Underway at Burbanks

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Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to announce the commencement of drilling at the high grade Burbanks project, located approximately 9km to the south of Coolgardie in the heart of the Western Australian Goldfields.

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HIGHLIGHTS

• Extensional and infill drilling has commenced at the high-grade Burbanks gold project, 9km south of Coolgardie in the Western Australian Goldfields
• Two phase RC and diamond drill programs for 30,000m planned:
o Phase 1 comprises ~15,000m of infill drilling to enhance resource continuity and
confidence with results expected in the September 2025 quarter
o Phase 2 comprises ~15,000m of extensional drilling, targeting along strike and down
dip of known high grade lodes
• Underground mining at Burbanks historically produced 324koz @ 22.7g/t Au
• The historical production is in addition to the existing JORC (2012) Mineral Resource of:
o 6.1Mt grading 2.4g/t Au for 466koz 1
• Infill and extension drilling in late 2023 intercepted significant mineralisation immediately down dip of historical high-grade intercepts with results including: 2
o 0.3m @ 45.40g/t Au from 428.1m (BBRC437D)
o 7.0m @ 5.51g/t Au from 130.0m (BBRC437D)
o 1.55m @ 20.43g/t Au from 301.0m (BBRC463D)
o 2.0m @ 11.79g/t Au from 425.0m (BBRC463D)
• Burbanks is expected to make a meaningful long-term contribution of high-grade ore feed to a refurbished Black Swan processing plant in the future
• The Black Swan PFS is scheduled for completion in the December quarter 2025

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 Managing Director and CEO Mr Grant Haywood commented,

“Past drilling at Burbanks has demonstrated the growth potential of this high-grade mineralised system both along strike and at depth.

 

“Our first phase of drilling will focus on transitioning more of the existing resource into the higher confidence JORC Indicated category to enable future conversion to an Ore Reserve and to progress this cornerstone asset towards being development ready.

 

“The second phase will then seek to deliver on the extensional potential seen in earlier drilling. 

“As part of our strategy to become a standalone gold producer, we’re undertaking a Pre-Feasibility Study to generate a five-year life of mine plan to feed our Black Swan processing facility, with Burbanks one of the key sources of high-grade mill feed for the plant.

 

“Refurbishment studies for Black Swan are being undertaken concurrently with the aim of first gold pour by the end of 2026.”

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To read the full news release please click HERE

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The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Horizon Minerals.

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Horizon Minerals (ASX: HRZ)

Announced it has received firm commitments for a two tranche placement of new shares to investors to raise ~A$30 million in cash before costs.

Proposed two-tranche Placement to local and offshore institutional and sophisticated
investors to issue a total of 697,674,418 fully paid ordinary shares at A$0.043 per share for A$30 million in cash before costs.

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Photo courtesy of Horizon Minerals

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Comment

This is very disappointing, and a glance at the chart above clearly illustrates why.

Why was I, as an existing investor, not invited to participate in this placing?

Effectively institutions are being let in on the cheap at the expense of existing shareholders, who have supported the company through to production, only to see the benefits of doing that transferred to new investors who are going to reap the benefit of our patience and support.

This is starting to become a recurring theme now, and once again the retail investor is being shafted by not having the opportunity to protect his position by buying at the same price as the institutions.

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HORIZON ANNOUNCE SUCCESSFUL A$30 MILLION TWO TRANCHE PLACEMENT TO FAST TRACK GROWTH STRATEGY

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to announce it has received firm commitments for a two tranche placement of new shares to investors to raise ~A$30 million in cash before costs (“Placement”).

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HIGHLIGHTS

• Proposed two-tranche Placement to local and offshore institutional and sophisticated
investors to issue a total of 697,674,418 fully paid ordinary shares at A$0.043 per share for A$30 million in cash before costs
• Placement introduces a number of new institutional investors to the register
• Funds raised will deliver a strong working capital position to support accelerated resource and exploration drilling and refurbishment studies for the Black Swan processing plant ahead of an expected uplift in cash generation from mining operations at Boorara and Phillips Find.

• Funds will be applied to:
o Resource extension and infill drilling at Burbanks which will commence in June 2025
o Accelerate resource extension and infill drilling at Crake and Coote
o Greenfields and brownfields drilling at a number of existing targets including Wilsons,
Kestrel, Phillips Find, Greater Boorara and Nimbus
o Engineering studies to support the refurbishment of the Black Swan processing plant
for gold production
o Working capital ahead of the processing of a significant stockpile of Boorara ore
o Potential debt retirement.

Horizon has received firm commitments from investors for a two-tranche Placement of A$30 million at a price of A$0.043 per share (“Placement Price”).

The Placement Price represents a 12.2% discount to the last closing price of Horizon shares on 21 May 2025 and a 18% discount to the prior 10-trading day volume weighted average trading price.

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Commenting on the Placement, MD and CEO Mr Grant Haywood said:

“We are pleased with the support for the Placement and welcome a number of highly credentialed institutional and sophisticated investors to the register.

 

“On behalf of the Board, I would also like to thank our existing shareholders for their ongoing support.

 

“The Placement provides an important working capital buffer as we await the processing of a significant Boorara stockpile in the coming months.

 

“This will allow us to keep building the momentum at our mining operations while also accelerating resource and exploration drilling in conjunction with refurbishment studies at Black Swan.

 

“We look forward to putting investors’ funds to work.”

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To read the full news release please click HERE

..

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Horizon Minerals.

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Horizon Minerals (ASX: HRZ)

Provided an update on the development of the Phillips Find and Boorara Gold Projects.

Toll processing has occurred at both Phillip’s Find and Boorara, further percels are now being stacked.

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Photo courtesy of Horizon Minerals

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Horizon Metals banks $12.9 Million From First Ore

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find (“Phillips Find”) and Boorara (“Boorara”) Gold Projects.

The first ore parcel from Phillips Find consisted of 37,624 dry tonnes at 1.46g/t for 1,675.3oz at an average price of $4,728/oz, generating ~$7.9M. In addition, the First ore stockpile from Boorara was 50,604 dry tonnes at 0.791g/t for 1,163 oz sold at an average gold price of $4,256/oz, generating ~$4.951M.

HIGHLIGHTS

New Toll Treatment Agreement for processing Phillips Find ore
• Completion of processing of the first 37,000t of ore from the Phillips Find JV with BML
Ventures Pty Ltd (BML) under the 200,000t Toll Milling Agreement with FMR Investments Pty Ltd (FMR) to treat Horizon ore from February to June 2025 at the Greenfields Mill 1
• First ore parcel from Phillips Find consisted of 37,624 dry tonnes at 1.46g/t for 1,675.3oz at an average price of $4,728/oz, generating ~$7.9M to the Phillips Find JV
• An additional 80,000t of ore from Phillips Find will be processed at the Greenfields Mill in both April and June in addition to approximately 80,000t of ore to be processes from Boorara to complete the Toll Processing Agreement with FMR.
• A New Toll Milling Agreement executed to treat 70,000t of ore from Phillips Find in
September/October 2025 to be processed at Focus Minerals Limited’s (Focus) Three Mile Hill processing plant
• Grade control drilling completed at Phillips Find and has resulted in a revised schedule where the final 70,000t ore mined in the current campaign is treated at Three Mile Hill
Mining, haulage and processing progressing well at Boorara
• Proceeds received from the processing of the first 50,604t of Boorara ore under the Ore Sale Agreement with Norton Gold Fields’ Paddington Mill for the processing of total of 1.24Mt of Boorara ore 2
• First ore stockpile from Boorara was 50,604 dry tonnes at 0.791g/t for 1,163 oz sold at an average gold price of $4,256/oz, generating ~$4.951M in revenue
• The second ore parcel is currently being processed at Paddington with a third parcel is in the process of being hauled. More than 100,000t of high-grade ore is currently stockpiled on the Boorara ROM pad, allowing for the additional campaigns to be processed at the Greenfields Mill in April and June
• Boorara is now operating at steady state ore production

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Commenting on the mining progress, MD and CEO Mr Grant Haywood said:

“Following on from our first gold pour for Boorara in January, we have now built up significant ore stockpiles, with mining now in steady state operation and in a position for the continuous processing of ore and cashflow generation which will continue well into 2026.

 

“We are also pleased to secure a new toll treatment agreement with Focus Minerals which aligns with the revised mining schedule at Phillips Find and allows us to increase our overall gold production from Boorara.

 

“As gold production ramps up in the June quarter we expect to commence a steady cash build from our dual mining and haulage operations.”

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To read the full news release please click HERE

..

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Horizon Minerals.

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Mining Review 16th February 2025

Horizon Metals announced the processing of the first ore from the Phillips Find gold mine. Ora Banda Mining announced good drill results from their Riverina gold project.

The price of gold jumped but with Donald Trump and Vladimir Putin talking about peace, what will happen if the Ukraine war finishes?

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Calibre Mining – El Limon Mine, Nicaragua

City Investors Circle Mining Review 16th February 2025

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The price of gold jumped again, but with Donald Trump and Vladimir Putin talking about peace, what will happen if the Ukraine war finishes?

I fear any sign of a peace settlement will drive the price of gold downwards fairly quickly, and that would remove some of the gains made recently in the producing gold miners. 

I am an investor rather than a trader, but if such a move happens I may be tempted to reduce some of my holdings in my ISA (As there’s no CGT issue), and look to re-invest at a lower level in the same companies.

It’s going to be tough call, and valuations may fall faster than we would like if such a scenario arises, but it’s one I’m looking at.

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Horizon Metals announced the processing of the first ore from the Phillips Find gold mine. They are one of three companies moving into production that I have recently invested in due to their policy of early stage mining to self fund ongoing exploration, thus avoiding dilution.

Ora Banda Mining announced good drill results from their Riverina gold project. The share price has just reached A$1, four times my original purchase price less than a year ago. How I wish I could repeat that sort of decision more often!

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  Ora Banda Announced Successful Drilling at Riverina

  Horizon Minerals Processes First Ore at Phillips Find

  Lefroy Exploration executed Agreement to mine the Lucky Strike gold deposit

  Capricorn Metals Acquired Mummaloo to Expand Mt Gibson Tenure

  Calibre Mining Expanded Mineralization to Surface at Frank

  Horizon Minerals Poseidon Takeover Gets The Green Light

  Mining Review 9th February 2025

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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non-deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Horizon Minerals (ASX: HRZ)

Provided an update on the development of the Phillips Find Gold Project.

Phillips Find Joint Venture (JV) Agreement in place with mining specialists BML Ventures Pty Limited to develop and mine two open pits.

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Comment

Good news to see Horizon commencing with their first ore at Phillips Find, their second gold production operation, with Boorara already haveing commenced production in January 2025.

 

Gold prices are around A$1,000 per punce higher than Horizon previously calculated, a nice bonus as production starts.

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Horizon Minerals – PHILLIPS FIND – PROCESSING OF FIRST ORE

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Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find Gold Project (“Phillips Find”).

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HIGHLIGHTS

• Phillips Find Joint Venture (JV) Agreement in place with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits.
• All management, technical, operational and maintenance roles is being undertaken by BML with oversight by the Company
• Low financial risk JV structure with BML funding all project costs, with net cashflow after asset recovery and repayment of costs to be split 50/50 between Horizon and BML
• Mine plan involves cutbacks to two existing open pits, Newhaven and Newminster
• Mining well advanced, with over 800,000 BCM (Bank Cubic Metres) mined to date in both the Newminster and Newhaven open pits
• Existing 200,000t Toll Milling Agreement executed with FMR Investments Pty Ltd (FMR) in May 2024 to be utilised for the Phillips Find JV ore.
• First ore from Phillips Find is being hauled to the Greenfields mill, with processing of the first 40,000t ore parcel due to commence next week for a period of approximately two weeks.

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 Managing Director and CEO Mr Grant Haywood Commented

“We are very pleased to be transporting our first ore from Phillips Find for treatment at the Greenfields mill.

 

“This marks another significant milestone in our journey to become a significant gold producer and demonstrates the team’s commitment to executing our strategy on schedule.

“We are now fully manned up and the team has been making good progress. We look forward to the next phase as we advance towards first gold production from Phillips Find and continue generating value for our shareholders in this high gold price environment.”

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To read the full news release please click HERE

..

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Horizon Minerals.

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Horizon Minerals (ASX: HRZ)

Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.

Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025.

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Comment

This $30 million deal paves the way for Horizon to pick up Poseidon’s 422,000-tonne contained nickel resource grading 1 per cent, 18,300t of copper, 7800t of cobalt and the mothballed Black Swan nickel processing plant, 40 kilometres east of Kalgoorlie, Western Australia.

 

Horizon says the processing plant alone would otherwise cost $150m to replace.

 

The company recently issued 213 million new shares at 4.5 cents a share in a placement to Golden Crane Holdings to raise A$9.625 million. These funds will go towards further project development, and, potentially, debt retirement.

 

Horizon plans to do its own gold processing – the main reason for this acquisition, and will need to spend some money refurbishing the front end of Poseidon’s plant and installing gold processing facilities at the back end to make it fit for use.

 

This is exactly the type of company I like to invest in, bringing in early cashflow and using the funds generated to create shareholder value by exploration, without further dilution.

 

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Horizon Minerals Poseidon Takeover Gets The Green Light

Schemes of Arrangement – Court Approval of Schemes

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Horizon Minerals Limited (ASX: HRZ) 

Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.

The Schemes will become legally effective following lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC).

Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025.

Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.

The Schemes will become legally effective following lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC).

Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025. Once this occurs, it is expected that Poseidon’s securities will be suspended from trading on the ASX at the close of
trading on 10 February 2025.

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Subsequent important events and dates

Date of the Schemes and last day of trading of Poseidon Shares and Poseidon Listed Options on ASX – 10 February 2025.

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To read the full news release please click HERE

..

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Horizon Minerals.

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