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Epic & Msn data
Epic HZM
Time: 16:30:14
Mid Price: 8.38
Change Today: 0.00
Change % Today: 0.00
Fifty Two Week High: 12.75
Fifty Two Week Low: 4.38
Market Capital: 4.94
Period & price data
Period Price
Now: 8.38
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: General Mining - Gold
Epic: HZM
News: Latest news
Web Site: Horizonte Minerals
Other Articles: 17-12-200909-12-200930-11-2009

Horizonte Minerals

Horizonte Minerals Plc is an international mineral resources exploration group focused on the discovery, appraisal and development of gold and base metal deposits in Brazil and Peru.  Horizonte has recognised that the previous low levels of exploration investment in Brasil has resulted in a shortage of quality early stage mineral exploration projects. The objective is to exploit these opportunities as a focused Exploration & Development company, and to become a recognised supplier of quality exploration projects with potential for major economic discoveries, in South America.

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Friday, May 29, 2009

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

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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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