Horizon Minerals Limited (Intermin Resources)
Horizon Minerals Limited (Intermin Resources)
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West Australian explorer Horizon Minerals has secured a processing solution for its prospective Rose Hill project on the outskirts of Coolgardie in the WA Goldfields through the sale of its nearby Gunga West deposit to FMR Investments.
Private resources investor/operator FMR will pay $A0.4M cash and make access available on commercial terms to its Greenfields toll mill in Coolgardie as consideration for the Gunga West package of mining leases and licences.
Horizon Minerals is targeting higher returns on investment by establishing a contract mining and toll milling model as it completes another deal aiming for the sequential underground development of its portfolio of gold projects in the West Australian Goldfields.
The proposed demerger and ASX listing of the 1.8Bt Richmond vanadium project in N Qld, Australia is expected to progress in the June qtr with work advancing on its BFS and the setting up of the new company’s board.
Richmond Vanadium Technology, the private company that owns 75% of the project, and 25% partner Horizon Minerals expect to complete the IPO in Sept-Oct.
West Australian miner Horizon Minerals is targeting a development decision in the June qtr leading to first gold in H1 2013 at its Cannon underground project after its PFS outlined 15,900oz production at AISC of $A1,873/oz over 16 months.
The study assesses a low-risk contract mining and third-party processing strategy for the underground development beneath the former Cannon openpit 30km SE of Kalgoorlie, taking advantage of its closeness to existing infrastructure.
Australian explorer Horizon Minerals and 75% JV partner Richmond Vanadium Technology plan to deliver details and timing in the June qtr of the planned IPO and listing of their 1.8Bt Richmond vanadium project in N Qld.
Horizon posted a maiden ore reserve of 2.25Mt contained V2O5 (459.2Mt @ 0.49%) for the advanced Lilyvale deposit plus an updated Richmond project PFS demonstrating a financially strong project.
West Australian explorer Horizon Minerals will seek new production and cash generation opportunities alongside large-scale exploration programs after completing the second toll milling campaign on low-grade stockpiles from its 100%-owned Boorara gold operation 10km E of Kalgoorlie.
The two programs at the Lakewood toll milling facility processed a total 98,121t ore at @ 0.93g/t from recent trial mining, delivering 2,638oz gold.
West Australian explorer Horizon Minerals continues to evaluate its openpit and underground projects and complete planning for large-scale exploration as it progresses a second toll milling campaign treating low-grade ore stockpiles from its 100%-owned Boorara gold operation 10km east of Kalgoorlie.
West Australian miner Horizon Minerals has moved quickly to reach sole ownership of Penny’s Find, the 42,000oz (250,000t @ 5.22g/t) gold resource 50km NE of Kalgoorlie, taking advantage of partner Labyrinth Resources’ desire to focus on its recently acquired gold projects in Canada’s Abitibi Greenstone Belt.
Explorer Horizon Minerals is moving to demerge and ASX list the Richmond-Julia Creek Vanadium Project J/V via a process deed with J/V partner RVT to progress project restructure, an IPO and ASX listing.
West Australian explorer Horizon Minerals has underlined the near-term development opportunity at its Cannon underground gold project near Kalgoorlie after a detailed review of geological, engineering and metallurgical data delivered a mineral resource of 232,000t @ 4.29g/t for 32,070oz.
Cannon, acquired last month as part of a $5M acquisition of the Bulong South, Glandore and Cowarna projects, includes an openpit development mined in 2017.