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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: HZM
Latest Price: 15.13p  (0,00%)
52-week High: 27.75p
52-week Low: 8.13p
Market Cap: 42.30M
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Horizonte Minerals
www.horizonteminerals.com

Horizonte Minerals Plc. is focused on exploration and development of mineral projects in Brazil. It has a successful track record in partnering with major mining companies. The Group is led by a management team with over 50 years of combined experience in the South American exploration and mining industry.

Principal projects include the wholly-owned Araguaia nickel laterite project, located in the southern Carajas Mineral District in Brazil, acquired in August 2010 from Teck. Work is focussed on the delivery of a 100 million tonne resource with fast track to Feasibility Study stage. On the gold programme Horizonte operates in partnership with Anglo Gold Ashanti to generate new world class projects in both north and southern Brazil.

Full Horizonte Minerals profile here
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Horizonte Minerals says seeking to maximise value of Lontra Nickel Project in Brazil

29th May 2009, 7:48 am Horizonte Minerals says seeking to maximise value of Lontra Nickel Project in Brazil

Mineral exploration junior, Horizonte Minerals (AIM: HZM) reported plenty of noteworthy progress at its Annual General Meeting (AGM) held yesterday. At the meeting, Chairman David Hall stated that the South American focused company had made “considerable progress in advancing our portfolio of gold, silver, and base metal projects” in Brazil and Peru.


Since listing on AIM, Horizonte’s business model has been to acquire relatively early stage exploration projects with the intention of advancing the asset to a more developed status before either divesting or farming out to a larger mining company seeking more advanced assets with the intention of taking them through to development. Horizonte has already proved that it can do just that, after it announced last year that ASX and TSX listed Troy Resources (TRY) had optioned its Tangara Gold Project in Brazil.  


“Troy Resources is continuing to advance the Tangara gold project with exciting new results at the Rio Maria target. In order to exercise its option Troy must pay US$2 million and pay US$30/oz royalty on ounces produced, which is a significant return on our initial investment,” Hall reminded shareholders.


In 2009, Horizonte also entered into a 50/50 joint venture with Mineração e Siderugia Ltda to identify and advance other project. The company also signed an agreement with Barrick Gold (NYSE: ABX) to advance the Pararapa Gold-Silver Project in Peru.


Perhaps most interesting for stakeholders and shareholders in Horizonte Minerals, the company confirmed at the AGM that it was seeking to “maximise value” of its Lontra Nickel Laterite Project in Brazil, which benefits from close proximity to a number of nickel discoveries made by much larger mining groups, including Xstrata (LSE: XTA).

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