Horizonte Minerals reports good start to Araguaia mine construction
CEO Jeremy Martin also highlighted market forecasts for "continued exponential growth in demand" for nickel
Company
LON:HZM
Horizonte Minerals PLC is an AIM and TSX-listed nickel development company focused in Brazil. The company is developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.
294 stories · page 2 of 15
CEO Jeremy Martin also highlighted market forecasts for "continued exponential growth in demand" for nickel
“The appointment of Gillian and Vincent is the first phase of the board's evolution to better reflect our new shareholder register"
"Araguaia will be delivered according to an EPCM strategy, in partnership with AFRY," CEO Jeremy Martin highlighted
The senior debt facility will fund the building of the Araguaia nickel mine
Last November, Horizonte announced it had initiated a US$633mln package to fully fund the construction of Araguaia
Horizonte added it is also finalising contracts for Engineering, Procurement and Construction Management (EPC)
Archive
Tirupati Graphite (LON:TGR) 78p Mkt Cap £77m – Vatomina reaches commercial production Tirupati Graphite report the attainment of commercial production at their Vatomina graphite project in Madagascar. The mine and process plant has capacity
"Horizonte is well placed to capitalise on the significant emerging nickel market deficit," said chief executive Jeremy Martin
Horizonte has just completed raising the equity component of the capital required for construction at Araguaia
Yesterday, the company said it had initiated a US$633mln finance package for Araguaia
The net proceeds of the proposed funding package will be used towards the construction of the Araguaia, as well as for general working capital purposes
The P&L is not especially relevant for a pre-revenue company. The important thing is, the cash balance remains healthy
“With very few new nickel projects with these credentials at construction phase we believe today's news is a pivotal point in Horizonte's story"
The second tranche of the senior debt facility is expected to be provided by a syndicate of international financial institutions
Archive
It was another busy week for London's junior mining sector...
The cash position stood at £22.2mln at the half-year stage
The company is developing the Araguaia project as the next major ferronickel mine in Brazil and aims to supply nickel to the EV battery market
The company is at an advanced stage in negotiations to get most of the required funding, the analyst said
Due diligence has been completed by five international banks
Multiple components of the Araguaia finance package are now reaching the final stages, the company highlighted