Horizon Minerals has kicked off mining activities at its Phillips Find gold project outside Kalgoorlie in Western Australia. Pre-strip mining operations are underway at the joint venture with first gold ore expected to be mined from the Newhaven and Newminster open pits at the project by next month.
Horizon Minerals’ push to become a sustainable mid-cap gold producer in the Goldfields is gaining momentum, following news it had filed documents to merge with Poseidon Nickel.
Horizon Minerals is set to take over Poseidon Nickel and its mothballed mining plant with a $30m all-scrip deal that will give Horizon a neat opportunity to commercialise its myriad of gold deposits scattered around Kalgoorlie. Horizon is offering 0.1156 of its shares for each Poseidon share and aims to raise a minimum of $14 million via a two-tranche placement at 4.5c per share to bolster its balance sheet.
Horizon Minerals has secured the green light to start gold mining at Phillips Find in WA, less than a week after mining the first ore from its Boorara mine that also sits in the State's Goldfields region.
Horizon Minerals expects a booming gold price to help it generate $30 million over the next year and a half, after entering production at its Boorara goldmine near Kalgoorlie.
Horizon Minerals says it expects to rake in $30 million in free cash flow from its Boorara gold project, 15km east of Kalgoorlie-Boulder in Western Australia's Goldfields region. After giving Boorara the green light just two months ago, the company has wasted little time getting its shovels into the ground for the project that is set to produce 49,500 ounces of gold.
Horizon Minerals has signed a significant new joint venture deal aimed at developing and mining two open pits at its Phillips Find gold project in Western Australia's Goldfields region in a bid to cash in on record high prices for the precious yellow metal. The deal with BML Ventures is underpinned by a plan to produce 15,000 ounces of gold from the site.
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Horizon Minerals has kicked off mining activities at its recently-approved Boorara gold development operation that sits adjacent to Northern Star's massive Super Pit mine in the regional WA city of Kalgoorlie. Management last month gave approval for the mining of four open pits containing 1.24 million tonnes of ore grading 1.24g/t gold for 49,500 ounces and says it has already kicked the plan into action.
Higher silver and zinc prices have led Horizon Minerals to dust off the mothballed Nimbus project that sits adjacent to its flagship Boorara gold operation, some 17km from Kalgoorlie in WA's Eastern Goldfields region. The company has set a big exploration target to chase in a drilling campaign planned for next year as it looks to ramp up its resources for an upcoming feasibility study.
Horizon Minerals is wasting no time getting the diggers to work at its Phillips Find gold project near Coolgardie in WA following a recent merger with Greenstone Resources. A joint venture agreement has been finalised with BML Ventures to mine 200,000 of ore, which will be toll treated at the nearby Greenfields Mill during the next 11 months to produce almost 15,000 ounces of gold.
Horizon Minerals says it will bank $30m within 19 months after making a final investment decision to toll mine 45,800 ounces from its Boorara project on the doorstep of Kalgoorlie's revered Super-Pit. The company will truck its ore 35kms north to the Paddington mill near the historic town of Broad Arrow. Open pit mining will begin in September.
Horizon Minerals has established a hefty gold-silver resource after completing a merger with Greenstone Resources, covering the new entity's entire holdings in Western Australia's Goldfields region. The company says it now boasts a resource inventory of 1.8 million ounces of gold and 20 million ounces of silver and is now poised to generate accelerated cash flow from multiple gold deposits near Kalgoorlie.
Horizon Minerals has inked a toll milling agreement with FMR Investments to process 200,000 tonnes of gold ore from its Cannon underground mine at the Greenfields Mill near Coolgardie in Western Australia. The binding agreement comes alive in December, with Horizon arranging contract mining and the 67km haulage of ore to Greenfields by road. Milling is expected to take up to eight months to complete.
Shares in Horizon Minerals rose to their highest price since May last year on Monday afternoon, following news that the company had signed a toll milling agreement with FRM Investments.
Shares in Horizon Minerals rose by 26 per cent on Monday morning, after the junior announced it had entered into a binding ore sale agreement with Paddington Gold, a wholly-owned subsidiary of Norton Gold Fields.
Horizon Minerals is on the path to generating its first cash flows from mining its Boorara gold deposit in WA after entering an ore sale agreement with Paddington Gold for the treatment of 1.4 million tonnes of ore at the Paddington mill. The agreement will start in the next quarter and run for 22 months, with the mill sitting about 56km by road from Boorara.
Horizon Minerals has tipped $2.93 million into its till after selling a share package it received from Vox Royalty late last year following a royalties divestment deal relating to gold projects in WA's Goldfields region. Horizon also collected an initial $4 million when the agreement was struck and Vox later decided to complete the deal via the share package instead of a further cash consideration.
Junior miner Horizon Minerals posted a $1.40 million profit during the first half of the 2024 financial year, which was down 19.4 per cent from $1.74 million during the prior corresponding period.
WA gold hopeful Horizon Minerals has reached a deal to acquire fellow explorer Greenstone Resources to consolidate the two companies' assets in the Goldfields.
Horizon Minerals has moved to build further on its mission to become a mid-tier gold producer in Western Australia's renowned Goldfields region through a proposed merger with Greenstone Resources. The merger would create a combined entity with a significant landholding containing 1.8 million ounces of gold near a toll treatment mill in the historic WA town of Coolgardie.
Joint venture (JV) partners Horizon Minerals and Dundas Minerals have hit high-grade gold from an initial drilling program at their Windanya gold project after the two companies recently completed an option agreement.
Horizon Minerals has bumped up its resource estimate for the company's 100 per cent-owned Penny's Find gold mine project 50km north-east of Kalgoorlie by nearly 50 per cent to 63,000 ounces. The latest estimate is based on a compilation of all drilling results below the 260m relative level and a lower cut-off grade of 1.5g/t gold, yielding a total resource estimate of 429,000 tonnes at a grade of 4.57g/t gold.
Horizon Minerals has extended deep gold mineralisation under its Penny West mine in Western Australia's Goldfields region and it will be just one of several targets dripping with the yellow metal that the company will further explore next year. Management has also proven two distinct gold mineralisation styles at Kanowna South and intersected supergene gold up to 10g/t at Binduli.
Horizon Minerals has revealed details about its pathway to gold production and a longer-term project pipeline relating to four of the company's extensive suite of projects, mostly within about 35kms of Kalgoorlie. The details provide a snapshot on the company's ramp-up work, including bringing on the underground operations at Cannon and Penny's Find and its open-pit developments at Kalpini and Boorara.
Horizon Minerals has set off on a lithium hunt through its gold-bearing Western Australian tenements after generating new exploration targets in the Goldfields and near the world-renowned Greenbushes project in the State's South West region. The company says it has been encouraged by its results to date, but more work is now planned as it looks to broaden its operations.
Horizon Minerals will retain financial exposure to 62 tenements within its Kalgoorlie project area despite entering into a binding asset sale agreement for the ground with Northern Star Resources. According to the deal, Northern Star will pay Horizon $3.1 million in cash, in addition to receiving discovery payments of $20 per ounce for any JORC-compliant mineral resource at the sites – capped at 2 million ounces.
Horizon Minerals has managed to get its foot on two lithium prospect areas with exquisite proximity to Greenbushes – the biggest hard-rock lithium mine in the world. The company says it paid just $225,000 in cash and shares to a private operator to get within about 10km of and along strike from Greenbushes, which has long been revered as the best lithium mine in the world.
ASX-listed Horizon Minerals has its eyes on a maiden resource for its Pinner prospect near Kalgoorlie after revealing positive results from an infill drilling program at its Greater Boorara-Cannon gold project. The company completed 26 holes of both air-core (AC) and reverse-circulation (RC) drilling through 1259m across its Pinder and Monument prospects to support its assessment of small-scale open-cut mining.
Horizon Minerals has moved to monetise its non-core assets after entering into a binding option and sale deed with Dundas Minerals for the former's Baden Powell/Scotia and Windanya gold projects near Kalgoorlie. The option covers all mineral rights in 16 prospecting licenses, two mining leases and one mining lease application, across 3230 hectares about 45km north of Kalgoorlie.
Horizon Minerals has revealed fresh mineral resource estimates for its Golden Ridge North and Monument gold prospects in Western Australia's Goldfields region, to take its total resource to 23.22 million tonnes at 1.69 grams per tonne gold for 1.26 million ounces. Management says further drilling is now underway at its Monument prospect, while both deposits will soon be the subject of scoping studies.
Horizon Minerals has launched a new drill campaign in a bid to expand the footprint of its Cannon gold project near Kalgoorlie from a single planned underground operation to a mining hub with potential open-pit mines. The Cannon deposit hosts a mineable ore reserve of 135,000 tonnes at 4.1g/t gold for 17,680 ounces and forms part of the company's 1.15-million-ounce Kalgoorlie-Boulder gold resource.
Horizon Minerals has secured a second tranche of funding of US$3 million (AU$4.36 million) to continue the development of its Cannon underground gold project in Western Australia's Goldfields region. Management says it has also received the government approvals needed to kick off underground development, including an approved mining proposal and mine closure plan from the Department of Mining, Industry Regulation and Safety.
