Horizonte Minerals Plc (LON:HZM) ended its latest quarter with cash of £4mln as two more major steps at its Araguaia nickel project development in Brazil were completed.
Last week, the mine plan for the 28-year operation was submitted after approval of the final exploration reports.
READ: Horizonte submits formal plan for Araguaia to Brazil's Mining Agency
Horizonte also filed its application for a mine construction licence in October, which included social and environmental mitigation and monitoring plans.
READ: Horizonte Minerals files construction licence for Araguaia nickel mine
The AIM and Canada–listed group has scheduled full completion of the feasibility study for Araguaia by the first quarter of 2018.
Losses were £308,000 in the three months to September.