Horizon Minerals Limited

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 received
  • Horizon to provide management oversight and technical services support with the contractor undertaking the works
  • All management, including the Site Senior Executive and Quarry Manager, and most technical roles have been filled
  • Mobilisation commencing, with pre-production works undertaken in the first half of August, and mining commencing and ramping up thereafter
  • Boorara is fully permitted with all statutory approvals in place for operations to commence
  • Binding 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 satisfied
  • Independent Ore Reserve estimate of 1.24Mt at 1.24 g/t Au for 45.8 koz recovered at 92.5% metallurgical recovery
  • Mining to occur over 14 months, with processing over 19 months with first gold pour expected in October 2024
  • Boorara cashflow estimated to be A$30M at a A$3,600/oz gold price

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 article includes content from Horizon Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

HRZ:AU
Horizon Minerals

Horizon Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Horizon Minerals

Horizon Minerals

Emerging stand-alone gold producer in Western Australia

Emerging stand-alone gold producer in Western Australia Keep Reading...
Notice of Annual General Meeting/Proxy Form

Notice of Annual General Meeting/Proxy Form

Horizon Minerals (HRZ:AU) has announced Notice of Annual General Meeting/Proxy FormDownload the PDF here. Keep Reading...
Quarterly Cash Flow Report 30 September 2025

Quarterly Cash Flow Report 30 September 2025

Horizon Minerals (HRZ:AU) has announced Quarterly Cash Flow Report 30 September 2025Download the PDF here. Keep Reading...
Quarterly Activities Report 30 September 2025

Quarterly Activities Report 30 September 2025

Horizon Minerals (HRZ:AU) has announced Quarterly Activities Report 30 September 2025Download the PDF here. Keep Reading...
Burbanks Drilling Returning Spectacular Grades

Burbanks Drilling Returning Spectacular Grades

Horizon Minerals (HRZ:AU) has announced Burbanks Drilling Returning Spectacular GradesDownload the PDF here. Keep Reading...
Pre Feasibility Study

Pre Feasibility Study

Horizon Minerals (HRZ:AU) has announced Pre Feasibility StudyDownload the PDF here. Keep Reading...
Adrian Day, gold bars.

Adrian Day: Gold Far from Top, Two Triggers for Next Price Move

Adrian Day, president of Adrian Day Asset Management, shares his thoughts on gold's price pullback, saying he currently sees no evidence of a top. "It's perfectly normal in middle of a bull market to have a significant correction. This really isn't even a correction yet, let's not forget that.... Keep Reading...
Rick Rule, mine site.

Rick Rule: Gold Strategy, Oil Stocks I Own, "Sure Money" in Uranium

Rick Rule, proprietor at Rule Investment Media, recently sold 25 percent of his junior gold stocks, redeploying the funds into physical gold, as well as Franco-Nevada (TSX:FNV,NYSE:FNV), Wheaton Precious Metals (TSX:WPM,NYSE:WPM) and Agnico Eagle Mines (TSX:AEM,NYSE:AEM). In addition to those... Keep Reading...
Brien Lundin, gold bars.

Brien Lundin: Gold, Silver Waiting for Next Leg, What's the Catalyst?

Brien Lundin, editor of Gold Newsletter and New Orleans Investment Conference host, shares his outlook for gold and silver as prices continue to consolidate. "At the end of this cycle, I've long predicted that we're going to get to a US$6,000 to US$8,000 (per ounce) price range, whenever that... Keep Reading...
Maritime Resources (TSXV:MAE)

Maritime Announces 2025 Annual General and Special Meeting Results

Maritime Resources Corp. (TSXV: MAE,OTC:MRTMD) ("Maritime" or the "Company") is pleased to announce that, at the annual general and special meeting (the "Company Meeting") of the holders of common shares (the "Common Shares") in the capital of the Company (the "Shareholders") and the holders of... Keep Reading...
Gold bars on a table in front of U.S. hundred dollar bills and stacked coins.

Word Gold Council: Investment Key Driver of Gold Demand in Q3 2025

Investor appetite for safe-haven assets resulted in a record quarter for gold demand in Q3 2025, according to the World Gold Council’s (WGC) latest report.The WGC published its Gold Demand Trends Q3 report on October 30, which clearly demonstrates that investor demand for gold is exploding as... Keep Reading...
Horizon Minerals

Horizon Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News