The principal continuing activities of Horizon Minerals Limited (ASX:HRZ) and its controlled entity during the period consisted of exploration and evaluation of gold projects across the portfolio with trial mining and toll processing on the Boorara Gold Project.
The company continued acquisition growth including the purchase of the Penny’s Find gold mine and the Cannon Gold Project.
Divestment of Janet Ivy royalty with Norton Goldfields and Lehman’s Gold joint venture with Northern Star Resources (previously Saracen Mineral Holdings).
Further work on the consolidated Feasibility Study for the Boorara Gold Project and a strategic review of the Nimbus zinc-silver project including an offtake process.
The consolidated entity made an after tax profit of $3,746,605 (December 2020:$2,028,782) for the half year.
About Horizon Minerals Limited
Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia’s richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE’s, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
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