Horizon and Poseidon Merging to Fast-Track the Creation of a New WA Mid-Cap Gold Producer

Horizon Minerals Limited (ASX: HRZ) (Horizon) and Poseidon Nickel Limited (ASX: POS) (Poseidon) have entered into a scheme implementation deed (Scheme Implementation Deed) pursuant to which they have agreed to a merger to be conducted by way of Schemes of Arrangement under the Corporations Act 2001 (Cth) (Corporations Act), whereby Horizon will acquire 100% of the fully paid ordinary shares in Poseidon (Poseidon Shares) and 100% of the unlisted Poseidon options under the code POSAAB, subject to the satisfaction of various conditions.

In addition, Horizon has received firm commitments for a placement to raise $14 million to support the expanded business.

HIGHLIGHTS

Logical consolidation of complementary assets in the Western Australian Goldfields

The proposed transaction will consolidate Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts.
The combination provides a pathway for sustainable, long-term gold production and cashflow as an independent mid-cap producer. ^1,2,³

Substantial resource base and regional tenure

Combined JORC Mineral Resources of ~1.8Moz gold at an average grade of 1.84g/t Au and 422,700t nickel at an average grade of 1% Ni.
Combined tenure of 1,309km² in an attractive geological position in the WA Goldfields.
A strong pipeline of production sources, Mineral Resource growth opportunities, advanced brownfield exploration targets and greenfield exploration opportunities.^1,2,3

Aligned strategy of using Poseidon’s Black Swan infrastructure to fast-track gold production

Refurbishment of the front end of the Black Swan processing plant and conversion of the back end to facilitate gold production presents a significantly faster, lower capital pathway to gold production compared to building a new gold processing plant in the region.
Horizon’s 465koz Burbanks and 428koz Boorara gold deposits form the cornerstone assets in a project pipeline aiming to deliver a 5-year mine plan to fill the Black Swan processing plant.
Conversion of the Black Swan processing plant to a gold plant with throughput optionality will unlock latent value in Horizon’s portfolio and open up the region for toll milling and further consolidation.⁴

Shared focus and ambition to become the next mid-tier gold producer

Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion & recommissioning of the Black Swan processing plant.

Strategically positioned and permitted infrastructure

In addition to the combined entity’s Kalgoorlie-Coolgardie gold assets, Lake Johnston and Windarra present highly strategic assets that have the ability to deliver further shareholder value.
Situated in the southern Goldfields, the permitted Lake Johnston 1.5Mtpa processing plant and associated infrastructure presents an opportunity to develop a lithium processing hub in this emerging lithium province.
Located in Laverton, Windarra’s water resource and gold tailings present highly strategic assets

Potential for re-rating based on enhanced scale and market relevance

Enhanced trading liquidity and scale to drive increased market relevance, grow investor appeal and improved access to capital.
Lower combined corporate overheads to enable greater focus on asset investment.

OVERVIEW

Pursuant to the terms of the Scheme Implementation Deed:

each Poseidon shareholder will receive 0.1156 Horizon shares for every 1 Poseidon Share held (the Share Scheme);
each holder of Poseidon options (other than a POS Incentive Option⁵ – see below) (Poseidon Options) will receive 0.1156 new Horizon options for every 1 Poseidon Option held (the Option Scheme and, together with the Share Scheme, the Schemes); and
Poseidon, Horizon and each holder of POS Incentive Options will enter into a deed under which all of the relevant POS Incentive Options will be cancelled (or transferred to Horizon or its nominee) for cash consideration, with effect from the Implementation Date and conditional on the Scheme becoming effective (POS Incentive Option Deed). The POS Incentive Options are not subject to the Option Scheme.

The exchange ratio under the Share Scheme was based on a 40% premium to the 30-day volume weighted average price (VWAP) of $0.0042 per Poseidon share for the period up to 22 October 2024 that is $0.006. Based on the last trading price of Poseidon shares as at 22 October 2024, which was $0.006 and represents a 0% premium to the last traded price.

Following implementation of the Schemes, Horizon shareholders will own 69.8% of the Combined Group (defined below) while Poseidon shareholders will own the remaining 30.2%.

The Schemes are unanimously recommended by the POS Independent Board.⁶ Each member of the POS Independent Board intends to vote all Poseidon Shares they control in favour of the Share Scheme and all Poseidon Options they control in favour of the Option Scheme, subject to no Superior Proposal⁷ emerging and the Independent Expert concluding (and continuing to conclude) that the Schemes are in the best interests of Poseidon shareholders and holders of Poseidon Options, respectively.

Under the proposed transaction the combined group will have a global JORC Mineral Resource of ~1.8Moz of gold and ~422.7kt of nickel, as well as 1,309km² of attractive exploration tenure and two strategically located processing facilities in Black Swan and Lake Johnston.

The Black Swan processing plant has a 2.2Mtpa nickel sulphide concentrator and associated infrastructure and is ideally located as a central processing hub for Horizon’s gold projects as well as for regional toll treatment opportunities. The Black Swan concentrator will also unlock value for Horizon’s high-grade Nimbus silver, zinc and gold project which contains 20.2Moz of silver, 78koz gold and 104kt of zinc.

The proposed transaction brings together complementary assets. A Feasibility Study on the refurbishment and conversion of the Black Swan processing plant to gold production from Horizon’s large baseload and satellite gold deposits will be undertaken. The Feasibility Study is expected to be completed in the second half of 2025 with first gold production from Black Swan currently targeted for mid-2026.

The conversion of the Black Swan processing plant for gold processing would utilise the existing crushing and grinding circuit and likely involve the addition of a carbon in leach (CIL) circuit, elution plant and gold room. The Black Swan plant is currently on care and maintenance and will require some refurbishment. Horizon’s Feasibility Study will provide an up-to-date estimate of the cost of completing this work.

The combined group of Horizon and Poseidon (the Combined Group) will be pursuing its growth strategy from a position of greater market scale, underpinned by an estimated pro-forma cash and listed investments balance of ~$19 million (inclusive of the Placement) and lower consolidated cost base. Following implementation of the Schemes, Poseidon will be delisted from the ASX and become a subsidiary of Horizon, and the Combined Group will continue to trade as Horizon Minerals Ltd under the ticker ASX: HRZ.

Completion of the Schemes is targeted for late January / early February 2025. The Schemes remain subject to various customary closing conditions, including the approval of Poseidon shareholders, holders of Poseidon Options, and the Court, which are summarised below.

Commenting on the proposed merger, Horizon Managing Director Mr Grant Haywood said:

“We believe this proposed merger represents a unique opportunity to unlock the value of our significant gold resource in the WA Goldfields and leverage strategically located processing infrastructure.

This really is a logical consolidation of complementary assets, delivering a near term and cost- effective processing pathway and creates greater potential for both sets of shareholders to create value from the cashflow generation potential of a long project pipeline and wholly owned processing infrastructure.

Outside gold, the merged nickel and silver assets enhances the respective asset values of both parties and retains full exposure for the combined shareholder group to crystalise value in any future sustained price upturn for these commodities.”

Poseidon Nickel CEO Mr Brendan Shalders commented:

“The Schemes announced today are a pivotal step towards establishing a significant gold business and provides Poseidon shareholders and holders of Poseidon Options with an exciting opportunity to become part of an emerging gold producer at a time when the gold price is at all-time highs.

“There is strong alignment between Poseidon’s strategy and that of Horizon, which is one of the core pillars underpinning this regional consolidation. Together we have greater capability to deliver on longer term cashflow generation from cornerstone operations fitting for an emerging mid-tier gold producer.”

Click here for the Horizon & Poseidon Merger Presentation

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.

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HRZ:AU

Horizon Minerals Limited Chairmans Address - 2024 AGM

Perth, Australia (ABN Newswire) - Welcome to the 2024 Annual General Meeting of Horizon Minerals Limited (ASX:HRZ). Thank you for joining us today and for your ongoing support as shareholders. It is a privilege to address you as Chairman during what has been a pivotal year for our company.

Horizon made significant advances across resource development, business development and our production pipeline in the year. We achieved key milestones despite the challenges posed by volatile market conditions and change within our business, positioning us for strong future cashflows in what is a high gold price environment.

This past year we have worked tirelessly to secure two ore processing agreements, commenced two mining operations, completed the merger with Greenstone Resources Limited and are now into a proposed merger with Poseidon Nickel Limited.

The processing agreements with FMR Investments Pty Ltd (FMR) and Norton Goldfields Limited Pty Ltd (Norton) underpin our cashflows for the next 18 months and are in line with our strategy of generating cashflow from mining projects through low capital development using existing regional infrastructure and partners. We have sought and received government approvals and awarded contracts for mining at our Boorara and Phillips Find projects. At the same time, we have progressed further studies and approvals on other gold projects in our project pipeline to generate longer-term cashflow.

The merger with Greenstone brought in the Phillips Find project which we quickly turned on with joint venture partner BML Ventures Pty Ltd (BML). The Greenstone merger also brought the cornerstone Burbanks asset which we believe can underpin a larger development and gave us more critical mass in our resource base to look at owning our own plant and not be reliant on third party infrastructure. This is where the proposed merger with Poseidon is a natural pairing and if implemented would result in our in-ground assets being processed through the Poseidon Black Swan processing plant which we would propose to refurbish and repurpose as a gold plant.

As a publicly listed company on the ASX, we are acutely aware of our responsibilities to our shareholders and other stakeholders. Corporate governance remains a cornerstone of our business. This year, we strengthened our governance framework, ensuring alignment with ASX Corporate Governance Council Principles and Recommendations and began a process of Board renewal. We refreshed the Board, welcoming Grant Haywood as Managing Director and Warren Hallam as a Non-Executive Director. Also, I would like to pay our thanks to outgoing Non-Executive Directors Jon Price and Chris Hansen for their service and contribution to the Company.

Our Board undertook a thorough review of policies such as risk management, sustainability, and ESG practices, reinforcing our commitment to transparency and accountability. We also continue to uphold the highest ethical standards in our dealings, with robust systems in place to monitor compliance across our operations.

In the current economic and market environment, effective cost management is more important than ever. The Company successfully implemented measures to optimise our cost base while maintaining the ability to achieve operational excellence and business goals. At a Board level we reduced Directors from four to three, and our corporate compliment of personnel has not significantly increased even following the recent Greenstone merger.

Going forward, growth remains a key priority for Horizon. Looking ahead to next year and beyond, we plan to invest around $6 million in a planned 50,000m of exploration and resource drilling, focusing on strengthening our development pipeline and testing high-potential new targets. This includes drilling our cornerstone projects, including Burbanks and the greater Boorara area, to generate a targeted five year mine plan to supply the Black Swan processing facility that Horizon proposes to acquire and refurbish subject to successful completion of the proposed merger with Poseidon. Assuming a successful merger with Poseidon, we look forward to completing the processing and mining studies to transform the processing facility into a gold plant capable of generating strong cashflows and returns for all shareholders.

On behalf of the board, I would like to thank all of our loyal employees, contractors and business partners for their tireless efforts in what has been a very busy and productive time for Horizon. Finally, I would like to thank you, our fellow shareholders, for your continued support in what is a very exciting growth phase of the Company going forward.

Ashok Parekh
Non-executive Chairman

To view the 2024 AGM Presentation, please visit:
https://www.abnnewswire.net/lnk/117U3E8L

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

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Horizon Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide the September 2024 Quarterly Activities Report. Horizon is an exploration and gold production company within the Kalgoorlie and Coolgardie regions of Western Australia.

A key objective for the Company is on near term gold production and exploration upside within our large tenement package of 928km2. The Company holds numerous multi - commodity assets including 1.8Moz of gold resources, the Nimbus Silver Zinc project, 50% of the Mt Thirsty Nickel Cobalt Manganese project in Western Australia, and listed investments including Richmond Vanadium Technology (ASX:RVT) which holds the world class 1.8Bt Richmond vanadium project in northwest Queensland.

Subsequent to the end of the September quarter and at the time of reporting, the company announced a proposed merger with Poseidon Nickel Limited and a two tranche placement of $14M. The merged entity shall have in addition to the resource base above, 422kt of Ni metal in resource, the 2.2Mtpa Black Swan processing facility that is proposed to be refurbished and upgraded to include a CIL gold circuit, the 1.5Mtpa Lake Johnston processing facility and untested gold anomalies adjacent to Black Swan.

Activities during the quarter focussed on implementation of the strategy of near term cashflow from mining projects, with mining commencing in August at Boorara to treat 1.24Mt of ore at Norton Goldfields' Paddington processing plant and announcing a JV agreement with BML Ventures to mine the Phillips Find project and treat 200kt of ore via a Toll Milling Agreement with FMR at their Greenfields plant near Coolgardie. The Mining Proposal, being the last permit required to undertake mining, was granted during the quarter and mobilisation commenced.

Multiple studies continued during the quarter for Kalpini and Pennys Find which are still ongoing, and the Ore Reserve study for Boorara completed by AMC Consultants. Preproduction activities continued for the Cannon Underground Gold Project with dewatering due to be completed in the next quarter.

There was minimal emphasis on drilling during the quarter as resources and expenditure focussed on preproduction activities aimed at getting assets into production to generate near term cashflow for the Company. The Company did however receive the final re-assays from the Burbanks project, with results not identifying any new economic mineralisation, however will provide invaluable information in the future modelling and upgrading of the resource model.

The company sold the first tranche of its listed investments in Ora Banda Mining Limited, selling 1,063,094 shares for proceeds of $532,943.

During the quarter, experienced mining executive Mr Warren Hallam joined the Company as a non-executive director, and non-executive directors Mr Jon Price and Mr Chris Hansen resigned from the board. The board is not seeking a replacement member of the board at this time.

*To view the full report, please visit:
https://abnnewswire.net/lnk/285PWSKW

News Provided by ABN Newswire via QuoteMedia

Click here to view the Quarterly Cash Flow Report 30 September 2024

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Horizon Minerals Limited and Poseidon Merging to Create Mid Cap Producer

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) and Poseidon Nickel Limited (ASX:POS) have entered into a scheme implementation deed pursuant to which they have agreed to a merger to be conducted by way of Schemes of Arrangement under the Corporations Act 2001 (Cth) (Corporations Act), whereby Horizon will acquire 100% of the fully paid ordinary shares in Poseidon (Poseidon Shares) and 100% of the unlisted Poseidon options under the code POSAAB, subject to the satisfaction of various conditions.

In addition, Horizon has received firm commitments for a placement to raise $14 million to support the expanded business.

HIGHLIGHTS

Logical consolidation of complementary assets in the Western Australian Goldfields

- The proposed transaction will consolidate Horizon's large gold resource and Poseidon's Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts.

- The combination provides a pathway for sustainable, long-term gold production and cashflow as an independent mid-cap producer.

Substantial resource base and regional tenure

- Combined JORC Mineral Resources of ~1.8Moz gold at an average grade of 1.84g/t Au and 422,700t nickel at an average grade of 1% Ni.

- Combined tenure of 1,309km2 in an attractive geological position in the WA Goldfields.

- A strong pipeline of production sources, Mineral Resource growth opportunities, advanced brownfield exploration targets and greenfield exploration opportunities.

Aligned strategy of using Poseidon's Black Swan infrastructure to fast-track gold production

- Refurbishment of the front end of the Black Swan processing plant and conversion of the back end to facilitate gold production presents a significantly faster, lower capital pathway to gold production compared to building a new gold processing plant in the region.

- Horizon's 465koz Burbanks and 428koz Boorara gold deposits form the cornerstone assets in a project pipeline aiming to deliver a 5-year mine plan to fill the Black Swan processing plant.

To view the Merger Presentation, please visit:
https://www.abnnewswire.net/lnk/DPBJR05Q

- Conversion of the Black Swan processing plant to a gold plant with throughput optionality will unlock latent value in Horizon's portfolio and open up the region for toll milling and further consolidation.

Shared focus and ambition to become the next mid-tier gold producer

- Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion & recommissioning of the Black Swan processing plant.

Strategically positioned and permitted infrastructure

- In addition to the combined entity's Kalgoorlie-Coolgardie gold assets, Lake Johnston and Windarra present highly strategic assets that have the ability to deliver further shareholder value.

- Situated in the southern Goldfields, the permitted Lake Johnston 1.5Mtpa processing plant and associated infrastructure presents an opportunity to develop a lithium processing hub in this emerging lithium province.

- Located in Laverton, Windarra's water resource and gold tailings present highly strategic assets

Potential for re-rating based on enhanced scale and market relevance

- Enhanced trading liquidity and scale to drive increased market relevance, grow investor appeal and improved access to capital.

- Lower combined corporate overheads to enable greater focus on asset investment.

OVERVIEW

Pursuant to the terms of the Scheme Implementation Deed:

- each Poseidon shareholder will receive 0.1156 Horizon shares for every 1 Poseidon Share held (the Share Scheme);

- each holder of Poseidon options (other than a POS Incentive Option - see below) (Poseidon Options) will receive 0.1156 new Horizon options for every 1 Poseidon Option held (the Option Scheme and, together with the Share Scheme, the Schemes); and

- Poseidon, Horizon and each holder of POS Incentive Options will enter into a deed under which all of the relevant POS Incentive Options will be cancelled (or transferred to Horizon or its nominee) for cash consideration, with effect from the Implementation Date and conditional on the Scheme becoming effective (POS Incentive Option Deed). The POS Incentive Options are not subject to the Option Scheme.

The exchange ratio under the Share Scheme was based on a 40% premium to the 30-day volume weighted average price (VWAP) of $0.0042 per Poseidon share for the period up to 22 October 2024 that is $0.006. Based on the last trading price of Poseidon shares as at 22 October 2024, which was $0.006 and represents a 0% premium to the last traded price.

Following implementation of the Schemes, Horizon shareholders will own 69.8% of the Combined Group (defined below) while Poseidon shareholders will own the remaining 30.2%.

The Schemes are unanimously recommended by the POS Independent Board. Each member of the POS Independent Board intends to vote all Poseidon Shares they control in favour of the Share Scheme and all Poseidon Options they control in favour of the Option Scheme, subject to no Superior Proposal emerging and the Independent Expert concluding (and continuing to conclude) that the Schemes are in the best interests of Poseidon shareholders and holders of Poseidon Options, respectively.

Under the proposed transaction the combined group will have a global JORC Mineral Resource of ~1.8Moz of gold and ~422.7kt of nickel, as well as 1,309km2 of attractive exploration tenure and two strategically located processing facilities in Black Swan and Lake Johnston.

The Black Swan processing plant has a 2.2Mtpa nickel sulphide concentrator and associated infrastructure and is ideally located as a central processing hub for Horizon's gold projects as well as for regional toll treatment opportunities. The Black Swan concentrator will also unlock value for Horizon's high-grade Nimbus silver, zinc and gold project which contains 20.2Moz of silver, 78koz gold and 104kt of zinc.

The proposed transaction brings together complementary assets. A Feasibility Study on the refurbishment and conversion of the Black Swan processing plant to gold production from Horizon's large baseload and satellite gold deposits will be undertaken. The Feasibility Study is expected to be completed in the second half of 2025 with first gold production from Black Swan currently targeted for mid-2026.

The conversion of the Black Swan processing plant for gold processing would utilise the existing crushing and grinding circuit and likely involve the addition of a carbon in leach (CIL) circuit, elution plant and gold room. The Black Swan plant is currently on care and maintenance and will require some refurbishment. Horizon's Feasibility Study will provide an up-to-date estimate of the cost of completing this work.

The combined group of Horizon and Poseidon (the Combined Group) will be pursuing its growth strategy from a position of greater market scale, underpinned by an estimated pro-forma cash and listed investments balance of ~$19 million (inclusive of the Placement) and lower consolidated cost base. Following implementation of the Schemes, Poseidon will be delisted from the ASX and become a subsidiary of Horizon, and the Combined Group will continue to trade as Horizon Minerals Ltd under the ticker (ASX:HRZ).

Completion of the Schemes is targeted for late January / early February 2025. The Schemes remain subject to various customary closing conditions, including the approval of Poseidon shareholders, holders of Poseidon Options, and the Court, which are summarised below.

Commenting on the proposed merger, Horizon Managing Director Mr Grant Haywood said:

"We believe this proposed merger represents a unique opportunity to unlock the value of our significant gold resource in the WA Goldfields and leverage strategically located processing infrastructure.

This really is a logical consolidation of complementary assets, delivering a near term and cost-effective processing pathway and creates greater potential for both sets of shareholders to create value from the cashflow generation potential of a long project pipeline and wholly owned processing infrastructure.

Outside gold, the merged nickel and silver assets enhances the respective asset values of both parties and retains full exposure for the combined shareholder group to crystalise value in any future sustained price upturn for these commodities."

Poseidon Nickel CEO Mr Brendan Shalders commented:

"The Schemes announced today are a pivotal step towards establishing a significant gold business and provides Poseidon shareholders and holders of Poseidon Options with an exciting opportunity to become part of an emerging gold producer at a time when the gold price is at all-time highs.

"There is strong alignment between Poseidon's strategy and that of Horizon, which is one of the core pillars underpinning this regional consolidation. Together we have greater capability to deliver on longer term cashflow generation from cornerstone operations fitting for an emerging mid-tier gold producer."

To view the Merger Presentation, please visit:
https://www.abnnewswire.net/lnk/62XHIX4J

News Provided by ABN Newswire via QuoteMedia

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Gold pan holding pieces of gold from creek placer deposit, with words '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Omineca Jumps 67 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.87 percent on the week to close at 586.88 on Friday (December 20). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 2.6 percent decrease to hit 24,599.48, and the CSE Composite Index (CSE:CSECOMP) was down just 0.12 percent to reach 130.58.

Statistics Canada released November’s consumer price index (CPI) data on Tuesday (December 17). The data showed that inflation in Canada continued to cool, posting a 1.9 percent year-over-year increase, down from the 2 percent recorded in October.

The agency said the decrease was partly due to a 0.4 percent decrease in gasoline prices and consumers taking advantage of lower prices during Black Friday sales.

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Newmont Files Early Warning Report

Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (together with its affiliates, " Newmont " or the " Company ") announced today that Newmont Canada FN Holdings ULC (the " Vendor "), a wholly-owned subsidiary of Newmont, sold 9,500,000 common shares of Star Diamond Corporation (" Star Diamond ") held by the Vendor by way of a private placement transaction for an aggregate purchase price of $190,000.00, being $0.02 per share (the " Transaction ").

Pursuant to the Transaction, the Vendor sold 9,500,000 common shares of Star Diamond (" Star Diamond Shares "), representing approximately 1.54% of the issued and outstanding Star Diamond Shares as of the date of the Transaction. Accordingly, the disposition of the Vendor's Star Diamond Shares represents a decrease in Newmont's ownership from approximately 11.45% to 9.92% of the issued and outstanding Star Diamond Shares.

News Provided by Business Wire via QuoteMedia

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Gold letters spelling "Fed" in front of a pile of gold dollar coins and US flag.

Gold, Silver and Bitcoin Prices Fall as Fed Caps Off Year with Rate Cut

The US Federal Reserve announced an interest rate cut of 25 basis points on Wednesday (December 18), reducing its target range to 4.25 to 4.5 percent in its third reduction of the year.

Policymakers also signaled that only two rate cuts are expected in 2025 versus the four originally forecast.

In comments after the Fed's meeting, Chair Jerome Powell emphasized that the Fed will remain cautious next year, focusing on labor market strength and further progress in curbing inflation.

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Westgold Shares Scoping Study for Expansion of Fortnum Gold Operation

Westgold Resources (ASX:WGX,TSX:WGX,OTCQX:WGXRF) has completed a scoping study that evaluates an expansion of its Fortnum gold operation in Western Australia, the company said on Tuesday (December 17).

The study forms part of the company’s portfolio review, and shows a potential 10 year, fully integrated mine plan.

It outlines life-of-mine production of 713,000 to 871,000 ounces of gold, and covers Fortnum's Starlight, Nathan’s and Yarlarweelor open pits, as well as the existing Starlight underground operation.

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Agnico Eagle Commences Friendly All-Cash Offer to Acquire O3 Mining

All cash offer of $1.67 per share representing a 58% premium to O3 Mining's closing price on December 11, 2024
Offer unanimously recommended by Board and Special Committee of O3 Mining and supported by shareholders representing 39% of outstanding shares of O3 Mining
Shareholders should tender by 11:59 p.m. (EST) on January 23, 2025 to take advantage of the significant offer

(All amounts expressed in Canadian dollars unless otherwise noted)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (" Agnico Eagle ") and O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (" O3 Mining ") are pleased to jointly announce that Agnico Eagle, through a wholly-owned subsidiary, has commenced its offer to acquire all of the issued and outstanding common shares of O3 Mining (the " Common Shares ") not already owned, directly or indirectly, by Agnico Eagle for $1.67 in cash per Common Share, pursuant to a friendly, board-supported take-over bid (the " Offer ") by delivering the Offer and take-over bid circular to O3 Mining shareholders. The directors' circular of O3 Mining is being delivered to O3 Mining shareholders concurrently with the take-over bid circular of Agnico Eagle.

News Provided by Canada Newswire via QuoteMedia

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Franco-Nevada Announces $500 Million Precious Metals Stream with Sibanye-Stillwater

(in U.S. dollars unless otherwise noted)

Franco-Nevada Corporation (" Franco- Nevada " or the " Company ") (TSX: FNV) (NYSE: FNV) is pleased to announce that its wholly-owned subsidiary, Franco-Nevada ( Barbados ) Corporation (" FNB "), has entered into a precious metals stream (the " Stream ") with reference to specific production from Sibanye-Stillwater Limited's (" Sibanye-Stillwater ") Marikana, Rustenburg and Kroondal mining operations (the " Stream Area ") located on the Western Limb of the Bushveld Complex in South Africa . The Stream is primarily comprised of a gold component for the life of mine (" LOM ") and a platinum component for approximately 25 years supporting a more stable gold equivalent ounce (" GEO ") delivery profile to FNB over this period.

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	______________________________________
	¹ Assuming current projections of 4E PGM production based on Reserves and Replacement Projects at consensus commodity prices
	² Combined costs (excluding by-products) following the Marikana K4 mine ramp-up
	³ Attributable M&I Resource of 1.0 Bt at 4.3 g/t 4E PGM grade for 142 Moz 4E PGM (182 Moz 4E PGM on a 100% basis) and attributable Inferred Resources of 227.5 Mt at 4.6 g/t 4E PGM grade for 33.7 Moz 4E PGM (41.7 Moz on a 100% basis) as at December 31, 2023. Attributable Reserves of 231 Mt at 3.6 g/t 4E PGM grade for 26.5 Moz 4E PGM (33.9 Moz 4E PGM on a 100% basis) as at December 31, 2023. M&I Resources are inclusive of Reserves.
	⁴ Based on 2023 production per Sibanye-Stillwater's public disclosure and total 2023 supply per Johnson Matthey PGM market report (May 2024)
	⁵ Assuming current projections of 4E PGM production based on Reserves and Replacement Projects currently being studied by Sibanye-Stillwater
	⁶ The ongoing payments are subject to reduction in certain circumstances
	⁷ The development and timing of these replacement projects is subject to achieving positive commercial and economic outcomes from the feasibility studies underway.

Horizon and Poseidon Merging to Fast-Track the Creation of a New WA Mid-Cap Gold Producer

Horizon Minerals Investor Kit

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Investor Insight

Overview

Company Highlights

Key Projects

Boorara Gold Project

Phillips Find Gold Project

Nimbus Silver-Zinc Project

Burbanks Gold Project

Cannon Underground Project

Penny’s Find

Rose Hill

Kalgoorlie Regional

Coolgardie Regional

Management Team

Ashok Parekh – Non-executive Chairman

Warren Hallam - Non-executive Director

Grant Haywood – Managing Director and Chief Executive Officer

Julian Tambyrajah – Chief Financial Officer & Company Secretary

Stephen Guy – Chief Geologist

Brendan Shalders - Chief Executive Officer (Poseidon)

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