Curated News
By: NewsRamp Editorial Staff
May 06, 2024

Horizon Minerals Resumes Gold Production with New Ore Deal

TLDR

Horizon Minerals secures ore sale agreement, leveraging high gold prices for significant cashflow.
Horizon will manage mining, transportation, and receive payments for 1.4 million tonnes of ore processing at Paddington's mill.
The agreement aids Horizon's path to sustained gold production, contributing to economic growth in Western Australia.
Horizon's deal with Paddington Gold Pty Ltd marks a significant step towards resuming gold production at Boorara Gold Project.

Impact - Why it Matters

The news is important for investors and stakeholders as it signifies Horizon Minerals' strategic move to resume gold production and leverage the high gold price for significant cashflow. This development also indicates the company's efforts to expand production capabilities through a merger with Greenstone Resources, while also finalizing key contracts for mining and milling. For the local community in Western Australia, this news represents potential economic growth and employment opportunities as mining activities resume.

Summary

Horizon Minerals Ltd CEO Grant Haywood discusses a binding ore sale agreement with Paddington Gold Pty Ltd for the processing of 1.4 million tonnes of ore from Horizon’s Boorara Gold Project. The agreement will provide significant cashflow and aid the company’s path to sustained gold production, as well as preparing for further near-term production and progressing a merger with Greenstone Resources to expand production capabilities. The company is also finalizing a toll milling contract with FMR Investments for the Cannon Gold Project and completing the reserve estimate for Boorara.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Horizon Minerals Resumes Gold Production with New Ore Deal

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