Horizon Minerals

Investor Insight

With operating cash flow, owned infrastructure and a defined development pipeline, Horizon Minerals is rapidly transitioning into a standalone producer, positioned for sustained production growth and resource expansion.

Overview

Horizon Minerals (ASX:HRZ,OTC:HRZMF) is an emerging gold producer and developer advancing a portfolio of high‑quality assets across Western Australia’s prolific goldfields. Following the transformational Poseidon Nickel merger and the Gordons acquisition, the company now holds a total mineral resource of 34.32 Mt @ 1.7 g/t gold for 1.88 Moz of gold.

At the heart of Horizon’s strategy is the 2.2 Mtpa Black Swan processing facility, which is being refurbished and converted into a gold carbon‑in‑leach (CIL) plant. Once operational, this infrastructure will provide centralized processing capacity to support sustained standalone production from multiple internal deposits, with first production targeted for late 2026.

Existing production at Boorara and Phillips Find continues to generate operating revenue through ore sales and toll milling agreements. Extensive drilling programs and ongoing technical studies are designed to grow resources, de‑risk development pathways and enhance long‑term production potential across Horizon’s 1,386 sq km Western Australian landholding.

Company Highlights

• Emerging Standalone Producer: Total gold mineral resource of 34.32 Mt @ 1.7 g/t gold for 1.88 Moz from a diversified portfolio of gold deposits.
• Black Swan Processing Facility: 2.2 Mtpa concentrator acquired via merger with Poseidon Nickel, being repurposed to a gold CIL circuit targeting first standalone production in late 2026.
• Strategic Asset Growth: Acquisition of the Gordons Project (77 sq km) adding 20,000 oz Au at Gordons Dam and significant regional exploration potential.
• Near‑Term Cash Flow: Gold production and revenue from Boorara and Phillips Find under ore sale and toll milling agreements during 2025 and into 2026.
• Focused Drilling Campaign: Multi‑project drilling underway to grow and reclassify resources and support future mine plans.
• Extensive Landholding: 1,386 sq  km of tenure across high‑productivity gold belts in Western Australia following the Poseidon and Gordons acquisitions.

Key Projects

Boorara Gold Project

A production hub located 15 km east of Kalgoorlie-Boulder, Boorara is a cornerstone asset delivering near‑term cash flow. It hosts a Mineral Resource of ~9.79 Mt @ 1.27 g/t gold for ~398 koz (after depletion) and has generated consistent gold sales under an ore sale agreement. 

Mining commenced in 2024, with significant ore tonnes mined and sold in 2025, contributing meaningful revenue and supporting ongoing development planning. The project’s established infrastructure and haulage access reduce capital requirements and support future resource growth.

Phillips Find Gold Project

Approximately 45 km northwest of Coolgardie, this high‑grade satellite deposit has delivered production via a toll milling arrangement. Its remaining Mineral Resource of ~598 kt @ 2.36 g/t gold for ~45 koz (post‑depletion) highlights strong grade potential. 

Operationally, mining and toll milling have generated gold sales through 2025 and 2026, with mining partners managing development risk and cost. The project continues to contribute to Horizon’s near‑term cash position.

Burbanks Gold Project

Situated near Coolgardie, Burbanks is a high‑grade growth asset with a long production history and significant resource inventory. Ongoing resource definition drilling offers material upside and is expected to serve as a major feed source for future centralized processing.

Burbanks’ resource contributes substantially to Horizon’s overall gold inventory and remains a priority for expansion drilling and integration into longer‑term mine plans.

Gordons Project

Acquired in August 2025, this 77 sq km tenure near the Black Swan hub includes the Gordons Dam deposit with ~20 koz gold and multiple untested prospects. 

The project strengthens regional consolidation and provides both immediate mineral inventory and exploration targets poised for rapid follow‑up drilling.

Black Swan Processing Facility

The 2.2 Mtpa processing plant is a cornerstone strategic asset that will support Horizon’s transition to integrated standalone gold production. Once converted to a gold CIL circuit, the facility is expected to deliver centralized processing for internal ore sources and potentially third‑party material, contributing to production scale and margin improvement.

Other Projects

Cannon Underground Project

A fully permitted underground development opportunity with completed technical studies. Cannon’s high‑grade profile and established approvals position it as a future contributor to Horizon’s production pipeline.

Penny’s Find

This high‑grade satellite deposit contains ~0.43 Mt @ 4.57 g/t gold for ~63 koz and has completed pre‑feasibility analysis. It is well-positioned for selective mining and feed into nearby processing facilities, offering development optionality.

Nimbus Silver‑Zinc Project

A large polymetallic deposit with 12.1 Mt @ 52 g/t silver, 0.2 g/t gold, 0.9 percent zinc (20.2 Moz silver, 77 koz gold, 104 kt zinc) and a defined high‑grade core. This asset provides diversification and potential for a separate concentrate production pathway.

Management Team

Ashok Parekh – Non-executive Chairman

Ashok Parekh is a Chartered Accountant with over 40 years’ experience advising and leading mining companies, particularly in the Western Australia goldfields, and has played a central role in structuring mining transactions and listings. He has held leadership positions including executive chairman of A1 Consolidated Gold and is widely respected for his corporate, governance and operational expertise across gold project development. 

Warren Hallam - Non-executive Director

Warren Hallam is a metallurgist and mineral economist with extensive operational, managerial and executive experience across base metals and gold projects in Australia. He has held senior roles including managing director at Metals X, Millennium Minerals and Capricorn Metals and brings deep technical and business expertise to the board.

Rob (Robert) Waugh — Non‑executive Director

Rob Waugh has more than 35 years’ experience in exploration and resource development, having held senior exploration roles at WMC, BHP and led Musgrave Minerals through a successful acquisition. He has been part of multiple major discovery teams and currently serves on the boards of other resource companies, bringing strong discovery and development credentials.Grant Haywood – Managing Director and Chief Executive Officer

Grant Haywood — Managing Director and CEO

Grant Haywood is a mining engineer with over 30 years’ experience in underground and open‑cut mining operations, including leadership roles from feasibility through production. He holds advanced mining qualifications and has managed complex projects across the WA goldfields for both junior and multinational companies.

Brendan Shalders — CFO and Joint Company Secretary

Brendan Shalders is a mining executive with over 20 years’ experience in strategy, corporate finance, risk management and business development. Prior to joining Horizon, he was CFO of Endurance Mining and CEO of Poseidon Nickel, and played a key role in the merger that brought Poseidon’s assets into the Horizon portfolio.

Isabel Macchia — Company Secretary

Isabel Macchia is an experienced company secretary and governance professional with roles across mining, utilities and legal sectors. She is a member of the Governance Institute of Australia and brings deep expertise in compliance and corporate governance. 

Daniel Coletta — Company Secretary

Daniel Coletta is a Chartered Secretary with extensive experience providing secretarial, corporate governance and advisory services to both ASX‑listed and unlisted companies. He is a Member of the Governance Institute of Australia and Chartered Accountants Australia & New Zealand.

Stephen Guy — Chief Geologist

Stephen Guy is a geologist with over 25 years’ experience spanning exploration, production and project start‑ups in Australia across gold, copper, nickel and other commodities. He has worked with leading mining companies and across diverse geological settings, bringing strong technical leadership to Horizon’s discovery and resource teams. 

Adrianna Skok‑Muir — Group Mining Engineer

Adrianna Skok‑Muir has over 25 years’ experience in mining engineering and project delivery, including feasibility studies and operational planning for open pit and underground mines. She has held senior technical and leadership roles with major industry groups and brings strategic engineering expertise to the company. 

Christian Price — GM Corporate Development