Horizon Minerals Limited (ASX:HRZ) Announces Strategic Acquisitions and Production Milestones
Strategic Acquisitions and Production Milestones
Horizon Minerals Limited has acquired Poseidon’s Black Swan processing plant, enhancing its future processing capabilities. The company achieved its first gold pour at the Boorara Gold Project, with gold production set to commence next at Phillips Find.
Operational Achievements
Horizon is pursuing a low-risk, low-capital approach to gold production through toll milling and ore sales. Cash inflows from the newly started gold operations have augmented the company’s robust cash balance, ensuring it is well-funded to execute Black Swan studies and its exploration growth strategy. Current agreements allow for consistent gold production over the next twelve months, aligning the production ramp with record gold prices above A$4,000 per ounce.
Financial Performance
The company raised approximately A$21 million through unconditional and conditional placements, strengthening its financial position. With a market capitalization of approximately A$75.4 million and a cash balance of A$9.6 million, Horizon maintains a strong balance sheet to support its strategic initiatives.
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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