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    nickel investing

    Horizonte Minerals Releases Araguaia Update

    Scott Tibballs
    Aug. 16, 2018 09:16AM PST
    Base Metals Investing

    Horizonte said final results of a feasibility study are being prepared and expected to be announced to the market in October 2018.

    Nickel development company Horizonte Minerals (LSE/TSX:HZM) has released an update on its operations covering its flagship Araguaia nickel project in Brazil.

    Horizonte CEO Jeremy Martin said:

    There has been a considerable amount of work involved in the optimization of the plant layout and design where we have been able to successfully reduce the overall plant footprint, close-couple the equipment packages leading to a reduction in the overall material quantities (cut and fill material, concrete and steelwork).

    As highlighted in the press release:

    • Final results of the Araguaia 43-101 feasibility study are being prepared and expected to be announced to the market in October 2018;
    • Optimization around the plant layout, engineering design and process flow sheet now complete and resulting in considerable opportunities;
    • Plant design has been modified to accommodate the potential expansion of a second Rotary Kiln Electric Furnace (‘RKEF’) process line in the future after the first line is fully commissioned, providing flexibility to double the output of the operation;
    • Final Araguaia capex estimate is currently being prepared for internal review;
    • Water permit has been obtained for full-scale operation at Araguaia;
    • Brazil’s environment agency (SEMAS) visited Araguaia in late July 2018, a key part of construction licence approval process; and,
    • Company cash position of £8.9 million as at 30 June 2018.

    Click here to read the full Horizonte Minerals (LSE/TSX:HZM) press release.

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