Former Horizon MD Price departs

Ashok Parekh-chaired Horizon Minerals has announced the departure of Jon Price from its board.

Mr Price, who joined the gold aspirant in January 2016, served as the company’s managing director until June 2023. He tendered his resignation in order to pursue other business commitments. 

Throughout his tenure, Mr Price helped Horizon – which has a market cap of $51.45 million, attain considerable growth.

In October 2022, it also benefited from the sale of its Kangaroo Hill and Phoenix gold projects to Greenstone Resources for a consideration package of $300,000.

Joining Horizon’s board is Warren Hallam, who previously worked as managing director at Capricorn Metals, Metals X and Millenium Metals, and has more than 35 years of operational and management experience across several commodities.

“We are delighted to welcome Warren to the board of Horizon as we transition the company from an explorer to producer,” Mr Parekh said.

“We look forward to his guidance during this exciting growth phase.

“On behalf of the board and broader Horizon team, I would also like to acknowledge and thank Jon for his significant contribution to the company over many years and wish him well in his future endeavours.”

Last week, the junior officially began activities at its flagship Boorara gold project, located around 17km from Kalgoorlie, on the back of its board backing a final investment decision at the site on July 29.

It also provided an update regarding its Nimbus silver-zinc project, which runs adjacent to Boorara.

With the silver ($42.59/ounce) and zinc prices ($4234.35/tonne) both rising, Horizon said it would undertake a program of work at Nimbus, which has already been approved by the Department of Energy, Mines, Industry, Regulation and Safety – with the site’s exploration target likely to be drilled during the first half of 2025.

The company said funding would be directed to test the target once cashflows at its Boorara and Phillips Find projects were in full swing.

Earlier this year, Grant Haywood-led Horizon also completed its merger with Greenstone Resources, after telling the market in February it had reached an agreement to acquire the fellow Western Australia-based junior.

Horizon shares last changed hands at 4.6 cents, as of 12.17pm WST.