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Horizon Minerals Ltd ( (AU:HRZ) ) has issued an announcement.
Horizon Minerals’ December quarter was dominated by progress on its Black Swan Processing Hub, with refurbishment studies upgraded from 1.5Mt per annum to 2.2Mt to leverage existing plant capacity and support a regional hub-and-spoke production model. Operationally, Horizon safely completed open pit mining at its Boorara and Phillips Find projects, generating about $23.3 million in revenue from Boorara gold sales and delivering ore from Phillips Find to a third-party mill, while maintaining around 14,300 ounces of unsold stockpiled gold and closing the period with $37.5 million in cash. High-grade drilling results at Burbanks, including ultra high-grade intercepts, reinforced the project’s potential as a future feed source for Black Swan, while the completion of the Gordons Dam acquisition, the sale agreement for the Lake Johnston asset for a mix of cash and shares, and a new land use agreement with the Marlinyu Ghoorlie Native Title group collectively strengthened Horizon’s asset base, balance sheet and social licence as it advances toward mid-tier scale production in the Kalgoorlie–Coolgardie region.
The most recent analyst rating on (AU:HRZ) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
More about Horizon Minerals Ltd
Horizon Minerals Limited is an Australian gold-focused miner and explorer with a large 1,000km² tenement package in the Kalgoorlie and Coolgardie regions of Western Australia. The company holds 1.8 million ounces of gold resources and the 20.2 million ounce silver-zinc Nimbus project, and is pursuing a strategy to become a standalone, high-margin gold producer centred on the proposed Black Swan Processing Hub and a regional hub-and-spoke model.
Average Trading Volume: 988,468
Technical Sentiment Signal: Buy
Current Market Cap: A$277.4M
Find detailed analytics on HRZ stock on TipRanks’ Stock Analysis page.