Proactiveinvestors Australia Horizonte Minerals PLC https://www.proactiveinvestors.com.au Proactiveinvestors Australia Horizonte Minerals PLC RSS feed en Sun, 21 Jul 2019 11:13:41 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190719070002_14155431/ Fri, 19 Jul 2019 16:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190719070002_14155431/ <![CDATA[RNS press release - Power Utilisation Permit Awarded for Araguaia ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190708070005_14139178/ Mon, 08 Jul 2019 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190708070005_14139178/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190604090554_14097596/ Tue, 04 Jun 2019 18:05:54 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190604090554_14097596/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190604090034_14097589/ Tue, 04 Jun 2019 18:00:34 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190604090034_14097589/ <![CDATA[RNS press release - High Purity Cobalt & Nickel Sulphate From Vermelho ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190604070006_14097033/ Tue, 04 Jun 2019 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190604070006_14097033/ <![CDATA[RNS press release - Quarterly Report ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190516070004_14075824/ Thu, 16 May 2019 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190516070004_14075824/ <![CDATA[RNS press release - Agm Presentation Available Online ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190513070008_14070714/ Mon, 13 May 2019 16:00:08 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190513070008_14070714/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190509161300_14068753/ Fri, 10 May 2019 01:13:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190509161300_14068753/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190411070004_14036815/ Thu, 11 Apr 2019 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190411070004_14036815/ <![CDATA[RNS press release - Final Results for year ended 31 December 2018 ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190329070003_14020399/ Fri, 29 Mar 2019 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190329070003_14020399/ <![CDATA[RNS press release - Positive Metallurgical Testwork For Vermelho ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190314070012_14001533/ Thu, 14 Mar 2019 18:00:12 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190314070012_14001533/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190305070029_13989880/ Tue, 05 Mar 2019 18:00:29 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190305070029_13989880/ <![CDATA[RNS press release - Share Price Movement ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190301153614_13987838/ Sat, 02 Mar 2019 02:36:14 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190301153614_13987838/ <![CDATA[RNS press release - Q1 2019 Shareholder Update ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190221070002_13976417/ Thu, 21 Feb 2019 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190221070002_13976417/ <![CDATA[RNS press release - Grant of Options for Brazilian Team ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190212070004_13965621/ Tue, 12 Feb 2019 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190212070004_13965621/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190205140035_13959079/ Wed, 06 Feb 2019 01:00:35 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190205140035_13959079/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190131070003_13952632/ Thu, 31 Jan 2019 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190131070003_13952632/ <![CDATA[RNS press release - Issue of Equity to Glencore ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190123070003_13943322/ Wed, 23 Jan 2019 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190123070003_13943322/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190114090540_13933386/ Mon, 14 Jan 2019 20:05:40 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190114090540_13933386/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190114090039_13933380/ Mon, 14 Jan 2019 20:00:39 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190114090039_13933380/ <![CDATA[RNS press release - Construction Licence Awarded for Araguaia Project ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190114070004_13932713/ Mon, 14 Jan 2019 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20190114070004_13932713/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181221070003_13912378/ Fri, 21 Dec 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181221070003_13912378/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181219121341_13909833/ Wed, 19 Dec 2018 23:13:41 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181219121341_13909833/ <![CDATA[RNS press release - Araguaia Ni 43-101 FS Filed and Stage 2 Expansion ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181212070121_13900248/ Wed, 12 Dec 2018 18:01:21 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181212070121_13900248/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181203070009_13888020/ Mon, 03 Dec 2018 18:00:09 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181203070009_13888020/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181130070004_13886139/ Fri, 30 Nov 2018 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181130070004_13886139/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181120070023_13872757/ Tue, 20 Nov 2018 18:00:23 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181120070023_13872757/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181119070006_13871033/ Mon, 19 Nov 2018 18:00:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181119070006_13871033/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181116110600_13870186/ Fri, 16 Nov 2018 22:06:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181116110600_13870186/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181116070004_13869341/ Fri, 16 Nov 2018 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181116070004_13869341/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181115070013_13867620/ Thu, 15 Nov 2018 18:00:13 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181115070013_13867620/ <![CDATA[RNS press release - Quarterly Report ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181112070003_13862500/ Mon, 12 Nov 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181112070003_13862500/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181105070006_13854149/ Mon, 05 Nov 2018 18:00:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181105070006_13854149/ <![CDATA[RNS press release - Appointment of Endeavour Financial ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181031070007_13848554/ Wed, 31 Oct 2018 18:00:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181031070007_13848554/ <![CDATA[RNS press release - Araguaia Nickel Project Feasibility Study ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181029070004_13845043/ Mon, 29 Oct 2018 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181029070004_13845043/ <![CDATA[RNS press release - Feasibility Study Announcement Date ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181025090002_13842193/ Thu, 25 Oct 2018 19:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181025090002_13842193/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181022170001_13837968/ Tue, 23 Oct 2018 03:00:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181022170001_13837968/ <![CDATA[RNS press release - Vermelho Operational Update ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181010070004_13822537/ Wed, 10 Oct 2018 17:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20181010070004_13822537/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180912123233_13788354/ Wed, 12 Sep 2018 21:32:33 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180912123233_13788354/ <![CDATA[RNS press release - Director/PDMR Dealing ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180820070005_13760550/ Mon, 20 Aug 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180820070005_13760550/ <![CDATA[RNS press release - Q3 2018 Araguaia Operational Update ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180816070003_13757223/ Thu, 16 Aug 2018 16:00:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180816070003_13757223/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180731070023_13736882/ Tue, 31 Jul 2018 16:00:23 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180731070023_13736882/ <![CDATA[News - Horizonte expects to complete its bankable feasibility study for Araguaia in the third quarter ]]> https://www.proactiveinvestors.com.au/companies/news/199587/horizonte-expects-to-complete-its-bankable-feasibility-study-for-araguaia-in-the-third-quarter-199587.html It’s no accident that the Araguaia nickel project is moving closer to a production decision at the very time that nickel prices are starting to rise. The project’s owner, Horizonte Minerals Plc (LON:HZM)(TSE:HZM) is run by experienced mining company directors who know a thing or two about markets and commodities prices.

“It’s the old adage,” says chief executive Jeremy Martin. “You put the story together and build it out at the bottom end of the price curve.”

Then by the time it comes to financing, the market’s already on the turn, and big-name investors are sharply on the lookout for opportunities.

READ: Horizonte Minerals completes aero survey for powerline to Araguaia project

Horizonte Minerals, broadly speaking, fits this pattern to a tee. There was a time when nickel traded up as high as US$50,000 per tonne, however Horizonte came to Brazil after that, discovering the Araguaia project eight years ago, when the nickel market was well and truly off its earlier highs and major players were leaving the space altogether.

After a few years of working up Araguaia as a standalone project, Horizonte was able to acquire a large, complementary asset to the north that had been owned by Glencore.

“We acquired it for US$8mln at the bottom of the nickel market the project had over US$70mln of investment,” says Martin, matter-of-factly.

Considering that Araguaia North is likely to comprise one half of the largest new saprolite project the world has seen for many years, that’s not bad going.

But Horizonte didn’t stop there.

Two world-class nickel projects

At the end of last year, the company acquired the Vermelho project from Vale S.A., adding to its assets in Para state. Brazil’s national mining champion. Vale S.A. had acquired a comparable asset at Goro when it took over Inco in 2006, and since Goro was already in development, that was where the focus went. But it had already spent approximately US$200mln developing Vermelho, and that value-add now accrues to Horizonte, all for a total cost of US$8mln, US$2mln paid up front, the balance on production.

It means that Horizonte now has two world-class nickel projects in development in Brazil, at a time when the nickel price is really starting to move.

“Both are highly scalable,” says Martin. “One will supply ferronickel for the stainless steel market, and one will supply class 1 nickel for the battery market.”

With these assets boasting a combined resource base of over 250mln tonnes, Martin’s stated aspiration for Horizonte that it become the “leading nickel company on Aim and the TSX,” doesn’t look far off becoming reality.

There are one or two other contenders, including Royal Nickel (TSE:RNX), but after five-to-eight years of little or no investment in the nickel space, it seems unlikely that any new challengers are going to emerge.

Which, of course, is propitious for Horizonte.

Solid demand

“Demand is robust,” says Martin. “Stainless is growing at five-to-eight per cent per year. And with batteries for electric vehicles there is significant future potential to add 20-30% to current nickel demand.”

Of course, if newcomers able to meet that new demand are thin on the ground, those that are in place are likely to reap a handsome reward: it’s that old adage.

The plan is to develop Araguaia first, to produce ferro-nickel pellets grading 30% nickel and sell direct to stainless producers  or trading houses as part of an off-take arrangement. The precise economics of this potential operation will be made much clearer when Horizonte reveals the results of an ongoing bankable feasibility study in the third quarter.

At that point it will be time to start putting together a financing package that Martin says will likely comprise a standard combination of equity, debt and off-take agreement.

And once up and running, Araguaia could provide significant funding for the development of Vermelho, for which an economic study is due out later this year.

But Martin is conscious that as a junior Horizonte ought not to take on too much.

“A Horizonte-owned and operated nickel mine at Araguaia is a very real possibility,” he says. “It would be a very cash-generative vehicle with the potential to pay significant dividends. And it could fund the development of Vermelho.”

Horizonte will consider a partner for its second project. After all, Araguaia will be one of the largest saprolite projects currently under development. For a company that’s worth just over £60mln at the moment, that’s quite an undertaking. But Martin is clear enough that Horizonte has the will and the know-how to make it happen.

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Tue, 26 Jun 2018 12:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199587/horizonte-expects-to-complete-its-bankable-feasibility-study-for-araguaia-in-the-third-quarter-199587.html
<![CDATA[RNS press release - Aero Survey for Powerline to Araguaia Completed ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180621070004_13687827/ Thu, 21 Jun 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180621070004_13687827/ <![CDATA[Media files - Horizonte Minerals says completing aero survey for power line to Araguaia is ‘another big milestone’ ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9642/horizonte-minerals-says-completing-aero-survey-for-power-line-to-araguaia-is-another-big-milestone-9642.html Thu, 21 Jun 2018 09:58:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9642/horizonte-minerals-says-completing-aero-survey-for-power-line-to-araguaia-is-another-big-milestone-9642.html <![CDATA[News - Horizonte Minerals completes aero survey for powerline to Araguaia project ]]> https://www.proactiveinvestors.com.au/companies/news/199296/horizonte-minerals-completes-aero-survey-for-powerline-to-araguaia-project-199296.html Horizonte Minerals Plc (LON:HZM, TSE:HZM) has announced that it has completed the aero survey for the powerline and awarded contracts for the Araguaia ferronickel project to leading Brazilian consultants.

The AIM-listed nickel development company said SM&A Servicos Electricos is responsible for the design engineering of the 230kV transmission line providing electricity for all operations required for the life of the mine.

WATCH: Horizonte Minerals says completing aero survey for power line to Araguaia is ‘another big milestone’

The company added that Brandt Meio Ambiente will prepare the installation environmental permits and Geoid Laser Mapping will conduct the topographic aerial laser survey of the powerline route and detailed positioning of pylon locations.

Jeremy Martin, CEO of Horizonte, said: “We announced earlier this year that we had secured the water abstraction permit for Araguaia's full-scale ferronickel operation and now we're advancing the energy infrastructure with the awards of contracts to experienced Brazilian powerline consultants.”

He added: “The 230kV transmission line is a significant part of the Araguaia project, so it's an exciting time for the company to see this milestone progress, bringing us closer to the build-phase of the Araguaia project.”

 

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Thu, 21 Jun 2018 08:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199296/horizonte-minerals-completes-aero-survey-for-powerline-to-araguaia-project-199296.html
<![CDATA[RNS press release - Appointment of Nominated Adviser ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180608070006_13671915/ Fri, 08 Jun 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180608070006_13671915/ <![CDATA[RNS press release - Award of Options ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180601070007_13662747/ Fri, 01 Jun 2018 16:00:07 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180601070007_13662747/ <![CDATA[News - Horizonte Minerals has one of the largest undeveloped nickel saprolite projects in the world ]]> https://www.proactiveinvestors.com.au/companies/news/197930/horizonte-minerals-has-one-of-the-largest-undeveloped-nickel-saprolite-projects-in-the-world-197930.html It’s quite some statement, but Horizonte Minerals PLC (LON:HZM), currently capitalized at around £60mln, is sitting on one of the largest potential new nickel projects in the world.

The combination of the Araguaia nickel project and the recently-acquired Vermelho project, both in Brazil, makes for a compelling proposition. Between them, resources at the two assets amount to over three million tonnes of contained nickel, with significant cobalt potential at Vermelho too.

Araguaia pre-feasibility study shows attractive economics

Horizonte’s recently updated pre-feasibility study demonstrates that Araguaia will generate US$1.3bn in free cash flow over the life of the mine. Having integrated Glencore’s adjacent nickel project in a low-cost acquisition in 2016, the new economics show a post-tax net present value of US$328mln and an internal rate of return of 19%, based on a long-term nickel price of US$12,000 per tonne. At that nickel price, the project is capable of generating over US$1bn in free cash over the 28 year life of mine.

However, using a consensus medium-term price of US$14,000 per tonne, the NPV increases to US$581mln with an IRR of 26.4%. The current price is over US$14,800 per tonne, so there’s already significant upside on the current numbers.

Feasibility study underway

As it stands, the plan is for Araguaia to produce around 14,500 tonnes of nickel per year. A feasibility to firm up the pre-feasibility numbers is now underway, due for completion shortly, which will set the scene for future project funding and construction. This will involve infill drilling over the trial mining site, trial mining to convert probable reserve to proven reserve, and the advancement of off-take discussions.

Good regional infrastructure will aid development

Araguaia is located on the eastern margin of the State of Pará, north-eastern Brazil, to the north of the town of Conceição do Araguaia, south of the main Carajás mining district.

The project has good regional infrastructure including a network of Federal highways and roads, with access to low tariff hydro-electric power. The Carajás mining district, situated approximately 200 km northwest of the Project, is host to a number of major iron and copper mines operated by mining major Vale SA.

Strong institutional support

Several major institutions and mining companies already recognise the potential of Horizonte’s nickel portfolio. Key among the share register are Teck Resources Limited, Lombard Odier Asset Management, JP Morgan, Hargreave Hale and Glencore.

Funded into 2020

Horizonte raised £9.2mln in conjunction with its acquisition of Vermelho from Glencore. In  financials for the quarter ended March 2018, the company estimated that this would be enough to last for 24 months.

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Wed, 30 May 2018 13:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197930/horizonte-minerals-has-one-of-the-largest-undeveloped-nickel-saprolite-projects-in-the-world-197930.html
<![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180515155203_13642275/ Wed, 16 May 2018 00:52:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/444/LSE20180515155203_13642275/