Horizon Minerals Ltd (AU:HRZ) has released an update.
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Horizon Minerals Ltd has confirmed the financial viability of the Boorara project, with a JORC-compliant Ore Reserve indicating a 14-month mine life and expected production of 49.5 thousand ounces of gold, yielding a free cash flow of $19.9 million. The company is nearing a development decision with all necessary permits in place, contracts for mining and haulage progressing, and a binding Ore Sale Agreement executed with Paddington Gold Pty Ltd. This development is set to strengthen Horizon’s cash flows and is part of its broader strategy to become a sustainable gold producer.
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