Big Picture – A Deep Dive Examination of Horizonte Minerals PLC
Horizonte Minerals PLC Snapshot
Horizonte Minerals plc (“Horizonte” or “the Company”) is an AIM and TSX-listed nickel development company focussed in Brazil, which wholly owns the advanced Araguaia nickel laterite project (“Araguaia” or “the Project”) located to the south of the Carajas mineral district of northern Brazil. The Company is developing Araguaia into the next major nickel mine in Brazil, targeting production by 2021. Our second asset, Vermelho, is being advanced with the aim to supply nickel and cobalt to the EV battery market.
Horizonte has a strong shareholder structure including Teck, Canaccord Genuity, Richard Griffiths, Lombard Odier Asset Management (Europe) Limited, JP Morgan, City Financial and Glencore.
The Group is led by a management team, with extensive experience in both Brazil and the nickel sector.
Horizonte’s updated Pre-Feasibility Study demonstrates that its enlarged, 100% owned Araguaia Project is one of the largest and highest grade undeveloped nickel saprolite resources globally. It will generate US$1.3 billion in free cash flow over the life of the mine. Having combined Glencore’s adjacent nickel project with its own Araguaia project in a low-cost acquisition which completed in 2016, the new compelling economics highlight a post-tax NPV of US$328 million and IRR of 19% based on a long term nickel price of US$12,000/t. Click here to read further.
- Construction approved for up to US$1.2B build in 2005
- Full Feasibility study completed on the project, all engineering data acquired
- Over 152,000m of drilling completed
- Feasibility demonstrated a nameplate capacity of 46,000 t/a nickel and 2,500 t/a cobalt
- Mineral Resource: M&I 168Mt grading 1.01% Ni and 0.06% Co
- Potential for high grade saprolite resources - 18.1m grading 3.31% Ni
- Test work shows 96% Ni recovery and 95% Co recovery
- Located in the Carajas mining district with favourable infrastructure
Note: Totals may not add due to rounding. Mineral Resources are inclusive of Mineral Reserves. Vermelho Mineral resource estimate at 0.9% nickel equivalent cut-off (Source: Vermelho - HZM 2018 Mineral Resource Estimate).
|Shareholder||Number of shares||% of issued capital|
|Canaccord Genuity Group||150,600,000||10.5%|
Horizonte Minerals Plc
Rex House, 4-12 Regent Street, London, SW1Y 4RG
T: +44 (0)203 356 2901
Horizonte Minerals Plc UK office
Rex House, 4-12 Regent Street, London, SW1Y 4PE
T: +44 (0)203 356 2901
UK Public and Investor Relations
Tel: +44 (0) 207 920 3150