Funds from the Placement will be used to advance the proposed high-grade Cannon underground mine scheduled for development in H2 CY2023. 1 The mine is now fully permitted with final mining contract / JV negotiations underway and a milling allocation in place at
Drilling will also commence at Penny's Find in the
In addition, the Company will continue the resource growth and new discovery gold exploration program across core assets including
Commenting on the successful capital raising, Horizon Managing Director Mr
"At a time of record A$ gold prices, our focus is now on advancing the high-grade Cannon underground mine into production in the second half of 2023. The mine is now fully permitted and we look forward to updating you further in coming weeks. Accelerating the drilling at the Penny's Find gold mine will enable updated resource modelling and reserve studies to be completed to have the mine ready for development in sequence."
"We thank our existing shareholders for their continued support and welcome several new Australian and international shareholders to the register. We now look forward to providing increased news flow on mining developments, drilling results and updated resources and reserves in coming months."
Details of the Placement
The Placement consists of approximately 74.1 million new fully paid ordinary shares to be issued at a price of
The Issue Price of
- 4.4% discount to the last trading price of
- 0.0% discount to the 10-day VWAP of
New shares issued under the Placement will rank equally with existing ordinary shares on issue.
For more information on the Company, we refer you to the presentation entitled "Growth Strategy Investor Presentation
About
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
Contact:
Managing Director
T: +61 8 9386 9534
E: jon.price@horizonminerals.com.au
Media Relations -
T: +61 422 602 720
E: michael.vaughan@fivemark.com.au
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