viewHorizonte Minerals PLC

Horizonte Minerals says financing process for Araguaia nickel project as yet unaffected by coronavirus pandemic

Horizonte has been steadily working up Araguaia for some years now

Horizonte Minerals PLC -

Horizonte Minerals PLC (LON:HZM)(TSE:HZM) said it closed out the quarter ending March 31, 2020 with £17mln in the bank, with the money in part to be used to make the Aragauia nickel project in Brazil construction ready.

The group said the project financing process for the project is currently running to schedule and has not been hindered by the coronavirus pandemic.

The company added that it remains focused on the safety of all employees and stakeholders and has implemented strict health and safety policies specifically tailored to the coronavirus.

Meanwhile, it said, nickel market fundamentals remain strong with analyst consensus prices of US$16,150 per tonne for the time Araguaia is forecast to commence production.

Work on Araguaia is focused around advancing the level of engineering from feasibility stage level through to being implementation-ready.

The company also said it is donating 300 food parcels during April and May to the municipalities of Conceiço do Araguaia, Floresta do Araguaia and Xinguara, in light of the socio-economic impact caused by the coronavirus.

Quick facts: Horizonte Minerals PLC

Price: 6.75 GBX

Market: AIM
Market Cap: £97.83 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Horizonte Minerals PLC named herein, including the promotion by the Company of Horizonte Minerals PLC in any Content on the Site, the Company...


Market Report: FTSE gains despite UK recession gloom

Headlines from the Proactive UK newsroom. The FTSE has opened up slightly higher despite news that Britain has slumped into recession - suffering its biggest decline on record between April and June, with the economy shrinking 20.4% compared with the first three months of the year - this...

on 12/8/20

2 min read