16 May 2019- Horizonte Minerals Plc,, the nickel development company focused in Brazil, announces it has today published its unaudited financial results for the three month period to 31 March 2019 and the Management Discussion and Analysis for the same period. Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil.
London, England- Horizonte Minerals Plc. is pleased to announce, following the company's AGM held in London on 9 May 2019, a presentation made at the event by CEO Jeremy Martin is now available on the company's website at www.horizonteminerals.com.. Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil.
London, England- Horizonte Minerals Plc. is pleased to announce the detailed voting results for the election of its Board of Directors, which took place at the Company's Annual General Meeting held on 9 May 2019. Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the...
Horizonte Minerals Plc, the nickel development company focused in Brazil, announces that its annual report and accounts for the year ended 31 December 2018, together with Management's Discussion and Analysis as at 31 December 2018 and Notice of Meeting and Management Information Circular were posted to shareholders on Wednesday and are available to...
Horizonte Minerals (HZM LN) 2.21p, mkt cap £32.6m –2018 results and project update Horizonte Minerals has reported an attributable loss of £5.0m for 2018 (2017 - £5.1m loss) as it progresses towards the development of its Araguaia ferronickel project in Brazil and advances the pre-feasibility study on the nearby Vermelho nickel cobalt project. The company reports a 31st December 2018 cash balance of £6.5m (31st December 2017 - £9.4m). The feasibility study for the Araguaia project, which is described as “construction ready, subject to financing” describes an initial production phase where approximately 900,000tpa of ore is treated in a Rotary Kiln Electric Furnace (RKEF) to produce approximately 14,500tpa of nickel contained in 52,000tpa of ferronickel. Capital investment of US$443m for the initial phase of the project is expected to generate an after tax NPV8% of US$401m and an IRR of 20.1% with cash costs equivalent to US$3.08/lb of contained nickel. The study includes the flexibility to double production to 29,000tpa of contained nickel by the addition of a second RKEF in the third year of the project. The additional capital expenditure of US$199.7m is to be funded from internally generated cash flow and enhances the after tax NPV8% to US$741m, increases the IRR to 23.1% and reduces the cash cost of production to US$3.00/lb. The construction licence for the project was awarded in January and advisors for the project financing have been appointed. Horizonte Minerals describes the award of the construction licence as a “major de-risking step for Araguaia, which is now fully permitted to commence construction, subject to financing. This is something the Company will prioritise in 2019, as well as working out how to optimise the structure for maximum shareholder value.” At Vermelho, which was acquired from Vale in January 2018, a pre-feasibility study is underway and is expected to be completed in mid-2019. The company points out that a “full Feasibility Study on Vermelho had been completed by Vale and it was scheduled for construction in 2006” which implies that the current pre-feasibility work will have a substantial body of historical technical data to draw on. Commenting on the nickel market, Horizonte Minerals’ Chairman, David Hall, explained that “Nickel like most metals experienced a lull both in price and market interest in the back end of 2018. However, Horizonte is well placed to benefit from the widely anticipated upwards trend in nickel demand from both the traditional stainless-steel markets as well as the new demand from Electric Vehicles (EVs).” Conclusion: The completion of the feasibility study and the award of the construction licence for Aragauia puts the financing of the US$443m project centre-stage. We look forward to further news on the progress of the funding of Aragauia and on the results of the pre-feasibility work at Vermelho later in the year.
Horizonte Minerals Plc (HZM.L) Announced, in its final results for the year ended 31 December 2018, that operating loss rose to £1.85 million from £1.45 million reported in the same period last year. The company’s loss before tax stood at £1.94 million compared to a loss of £1.67 million reported in the previous year. The basic loss per share stood at 0.136p compared to loss of 0.142p in the previous year. The company’s cash and cash equivalents stood at £6.53 million (2017: £9.40 million).
Horizonte Minerals Plc, the nickel development company focused in Brazil, announces its final results for the year ended 31 December 2018.. ·Base Case post-tax Net Present Value of US $401 million and Internal Rate of Return of 20.1% using. Using the consensus mid-term nickel price of US $16,800/ t, the post-tax NPV increases to US $740 million with an IRR of 28.1%;.
Podcast with Horizonte Minerals: CEO Jeremy Martin discusses the recently announced positive metallurgical results at Horizonte\'s Tier-1 Vermelho project; the advancing financing discussions for Araguaia (also Tier-1); and strong growth forecasts for the nickel market (in both Ferrochrome and Battery Nickel).
Horizonte Minerals (HZM LN) 2.07p, mkt cap £30.4m –Vermelho metallurgical test results Horizonte Minerals has released a summary of laboratory metallurgical testing of material from its Vermelho nickel cobalt project in Para state, Brazil. The results, “using a calcine charge of approximately 200 grams” of crushed and sized saprolite material from Vermelho “returned an average ferronickel grade of 31.8% nickel” and the company describes the product as “of high quality, being low in trace elements and meeting the commercial requirement of stainless-steel manufacturers”. This testing confirms “the suitability of the conventional Rotary Kiln Electric Furnace ("RKEF") for processing Vermelho saprolite ore.” Horizonte Minerals CEO, Jeremy Martin, commented that “We currently have a prefeasibility underway for the project and the data from this test work and the work being undertaken by SGS Lakefield, will be incorporated into the study with the objective of demonstrating a robust set of economics for the selected process route”. Mr. Martin went on to confirm that “we continue to advance the construction financing on the Araguaia Project . Against a backdrop of global growth in nickel consumption running at around 4 to 5% per year with stainless steel currently accounting for two thirds of demand.” Conclusion: Horizonte Minerals’ laboratory scale metallurgical testing shows the suitability of the saprolite material at Vermelho to produce commercial quality ferronickel using RKEF technology. The results are to be incorporated in pre-feasibility level work currently underway on the Vermelho project. As the project advances, we would expect more extensive testing of larger samples of material to build on this initial work to establish an appropriate flowsheet.
Horizonte Minerals Plc (HZM.L) Announced, in its results for the vermelho nickel cobalt project, that it is possible to produce high grade, commercial specification ferronickel from the saprolite and transition ore at Vermelho. Further, the results confirmed the suitability of the proposed conventional Rotary Kiln Electric Furnace process selected for the company's Araguaia ferronickel project is also suitable for processing Vermelho ore.
RNS Number: 8109 S Horizonte Minerals PLC 14 March 2019 NEWS RELEASE. POSITIVE METALLURGICAL TESTWORK RESULTS FOR THE VERMELHO NICKEL COBALT PROJECT. Horizonte Minerals Plc, the nickel development company focussed in Brazil, is pleased to announce positive results from metallurgical and smelting test work on the Vermelho nickel cobalt project, located in...
RNS Number: 8133 R Horizonte Minerals PLC 05 March 2019 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Horizonte Minerals Plc,, the nickel development company focused in Brazil, notes the movement in its share price today and confirms that it is not aware of any corporate developments that support such movement. Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is developing the Araguaia project, as the...
Horizonte Minerals (HZM LN) 2.4p, mkt cap �35.2m –Araguaia project update and start of Vermelho pre-feasibility work Horizonte Minerals has provided a progress report for its Araguaia ferro nickel project in Brazil’s Para State where, following publication of the feasibility study in December 2018 it is now “Advancing project financing options”. Reiterating the principal conclusions of the feasibility work for the 28 year project comprising an initial production phase where approximately 900,000tpa of ore is treated in a Rotary Kiln Electric Furnace (RKEF) to produce approximately 14,500tpa of nickel contained in 52,000tpa of ferronickel, the study concluded that capital investment of US$443m for the initial phase of the project is expected too generate an after tax NPV8% of US$401m and an IRR of 20.1% with cash costs equivalent to US$3.08/lb of contained nickel and that doubling production for additional, internally funded expenditure of US$199.7m enhances the after tax NPV8% to US$741m, increases the IRR to 23.1% and reduces the cash cost of production to US$3.00/lb. Horizonte Minerals points to positive sentiment towards nickel prices where it identifies “positive fundamentals with midterm consensus pricing of US$16,792/tonne ('t') Ni for 2022” compared with the US$14,000/t price assumed in the feasibility study. The company also alludes to expectations the Brazilian economy is “set for growth in 2019 and 2020 with GDP set to increase 2.4% and 2.3% respectively” and points to Brazil having “tightened control over inflation rates, which have decreased from 8.8% in 2016 to 3.6% in 2018 … … taken a series of measures aimed to improve fiscal responsibility, reduced government spending and increased direct foreign investment”. The company also announces that it has started pre-feasibility level work on the Vermelho project which it acquired early in 2018 and which lies “in close proximity to Araguaia”. Although at this stage, the company is not indicating a timetable for completion of this work it says that there “are several phases of work currently underway at Vermelho, the first is to demonstrate upgrading the mixed hydroxide product (MHP) to nickel and cobalt sulphate suitable for use in the evolving EV battery market. The second phase will utilise the high grade saprolite material to produce ferronickel via the same RKEF flow sheet as developed at Araguaia.” The work at Vermelho also includes environmental and social base-line data collection, which is expected to be incorporated at the pre-feasibility study stage.
Horizonte Minerals Plc (HZM.L) Announced, in its shareholders update for Q1 2019, that Araguaia ferronickel project ('Araguaia') Feasibility Study ('FS') completed in Q4 2018 delivering robust economics and Further upside potential with Stage 2 expansion at Araguaia doubling annual nickel production as well as Construction Licence recently granted by the Brazilian Par� State Environmental Agency ('SEMAS'). Moreover, the company added that advancing project financing options for Araguaia and Vermelho nickel cobalt project ('Vermelho') Pre-Feasibility Study ('PFS') underway as well as Nickel showing positive fundamentals with midterm consensus pricing of US$16,792/tonne ('t') Ni for 2022 and Brazil economy set for growth in 2019 and 2020 with GDP set to increase 2.4% and 2.3% respectively
Horizonte Minerals Plc,, the nickel development company focused in Brazil, is pleased to provide the following update to shareholders from CEO, Jeremy Martin.. �Nickel showing positive fundamentals with midterm consensus pricing of US $16, 792/ tonne Ni for 2022; and. �Brazil economy set for growth in 2019 and 2020 with GDP set to increase 2.4% and 2.3% respectively..
Horizonte Minerals Plc, the nickel development company focused in Brazil, announces the award of options to certain key employees in Brazil.. The options have an exercise price of 4.8 pence per share in line with the 2018 share option award parameters and vest in three equal tranches at the 6, 12 and 18 month anniversary of grant.. Horizonte Minerals plc is an AIM...
Horizonte Minerals plc (“Horizonte” or “the Company”) is an AIM and TSX-listed nickel development company focussed in Brazil, which wholly owns the advanced Araguaia nickel laterite project (“Araguaia” or “the Project”) located to the south of the Carajas mineral district of northern Brazil. The Company is developing Araguaia into the next major nickel mine in Brazil, with targeted production by 2019. Horizonte has a strong shareholder structure including Teck Resources Limited, Henderson Global Investors and Glencore. The Group is led by a management team, with extensive experience in both Brazil and the nickel sector.
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