Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Editor's Pick

Board Approves Development of Boorara

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to announce that its Board has approved the Final Investment Decision for the development of the Boorara Gold Project.

HIGHLIGHTS

Boorara Mining Services and Surface Ore Haulage contracts awarded to Hampton Transport Services Pty Ltd (“Hampton”) on competitive terms, with no mining contractor payments until first gold pour sold and funds receivedHorizon to provide management oversight and technical services support with the contractor undertaking the worksAll management, including the Site Senior Executive and Quarry Manager, and most technical roles have been filledMobilisation commencing, with pre-production works undertaken in the first half of August, and mining commencing and ramping up thereafterBoorara is fully permitted with all statutory approvals in place for operations to commenceBinding Ore Sale Agreement executed with Paddington Gold Pty Ltd (“Paddington”), a wholly owned subsidiary of Norton Gold Fields Ltd, now unconditional, with all conditions precedent satisfiedIndependent Ore Reserve estimate of 1.24Mt at 1.24 g/t Au for 45.8 koz recovered at 92.5% metallurgical recoveryMining to occur over 14 months, with processing over 19 months with first gold pour expected in October 2024

Commenting on the development of Boorara, Managing Director and CEO Mr Grant Haywood said:1

“Mining at Boorara is a significant milestone for the Company and will make Horizon the newest gold producer in Australia. We take great pleasure in welcoming our new members of Horizon including our business partners Hampton Transport Services and the Norton Gold Fields team who will be processing Boorara ore at Paddington.

We are focussed on making Boorara a safe and efficient mining operation to create value through generating cash and the first step in sustainable gold production for Horizon. We are seeking to unlock the significant latent potential within our extensive portfolio of development assets which hosts a 1.8 million ounce Mineral Resource.

Following the resumption of production at Boorara, we aim to develop other projects in parallel to establish Horizon as a long-term, sustainable gold producer in a favourable gold price environment.”

Click here for the full ASX Release

This post appeared first on investingnews.com
Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com