Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) said it made significant progress on preparation activities at its Araguaia ferronickel project in Brazil in the third quarter.
The pre-revenue company said the Araguaia operational readiness plan is well advanced with all key permits in place for construction to start.
Key environmental and social programmes are continuing in preparation for the construction phase at Araguaia, it said in its third-quarter results statement.
The loss before tax in the three months to the end of September was £2.76mln versus a £1.83mln loss in the same period of 2019.
The cash balance remained strong with cash and cash equivalents rising to £18.26mln from £10.94mln a year earlier.