Breakeven Date Change • May 20
Forecast breakeven date moved forward to 2026 The analyst covering Maritana Minerals previously expected the company to break even in 2027. New forecast suggests the company will make a profit of AU$35.7m in 2026. Breakeven Date Change • May 04
Forecast breakeven date moved forward to 2026 The analyst covering Maritana Minerals previously expected the company to break even in 2027. New forecast suggests the company will make a profit of AU$35.7m in 2026. New Risk • May 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 49% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 49% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (161% increase in shares outstanding). Breakeven Date Change • May 01
Forecast breakeven date pushed back to 2027 The analyst covering Maritana Minerals previously expected the company to break even in 2026. New forecast suggests losses will reduce by 81% to 2026. The company is expected to make a profit of AU$28.8m in 2027. Average annual earnings growth of 189% is required to achieve expected profit on schedule. Ankündigung • Mar 17
Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 4.651462 million. Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 4.651462 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,306,909
Price\Range: AUD 1.08 Ankündigung • Feb 02
Horizon Minerals Limited Announces Company Secretary Changes, Effective 2 February 2026 Horizon Minerals Limited has appointed Ms. Isabel Macchia as Company Secretary and Mr. Brendan Shalders as Joint Company Secretary, effective immediately. Ms. Macchia will have primary responsibility for the administration of the Company’s corporate governance, compliance and ASX listing obligations. She is a member of the Governance Institute of Australia and has previously served in company secretarial roles at Atlas Iron and Synergy. Mr. Shalders, who is also the Company’s Chief Financial Officer, will support Ms. Macchia in his role as Joint Company Secretary. Mr. Daniel Coletta will continue in his role as Company Secretary until his resignation takes effect on February 28, 2026, to facilitate an orderly transition. For the purposes of ASX Listing Rule 12.6 Mr. Daniel Coletta remains the person responsible for communications with the ASX until his resignation takes effect. Ankündigung • Sep 27
Horizon Minerals Limited, Annual General Meeting, Nov 28, 2025 Horizon Minerals Limited, Annual General Meeting, Nov 28, 2025. Ankündigung • Sep 04
Horizon Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million. Horizon Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: AUD 0.04
Transaction Features: Subsequent Direct Listing Board Change • Aug 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Warren Hallam was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • May 26
Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 27.580229 million. Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 27.580229 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 218,577,298
Price\Range: AUD 0.043
Discount Per Security: AUD 0.00258
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 422,823,368
Price\Range: AUD 0.043
Discount Per Security: AUD 0.00258
Transaction Features: Subsequent Direct Listing Ankündigung • May 12
Horizon Minerals Limited has filed a Follow-on Equity Offering in the amount of $1.307112 million. Horizon Minerals Limited has filed a Follow-on Equity Offering in the amount of $1.307112 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,900,000
Price\Range: $0.02568
Transaction Features: Subsequent Direct Listing Ankündigung • Feb 21
Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 9.625 million. Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 9.625 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 141,000,000
Price\Range: AUD 0.045
Discount Per Security: AUD 0.001125
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 72,888,888
Price\Range: AUD 0.045
Discount Per Security: AUD 0.001125
Transaction Features: Subsequent Direct Listing Board Change • Feb 04
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Warren Hallam was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Jan 10
Horizon Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 9.625 million. Horizon Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 9.625 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 213,888,888
Price\Range: AUD 0.045
Discount Per Security: AUD 0.001125
Transaction Features: Subsequent Direct Listing Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Warren Hallam was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Dec 03
Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 14 million. Horizon Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 14 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 155,729,127
Price\Range: AUD 0.045
Discount Per Security: AUD 0.0027
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 155,381,984
Price\Range: AUD 0.045
Discount Per Security: AUD 0.0027
Transaction Features: Subsequent Direct Listing Ankündigung • Oct 29
Horizon Minerals Limited, Annual General Meeting, Nov 29, 2024 Horizon Minerals Limited, Annual General Meeting, Nov 29, 2024. Location: a&o shearman, level 12, exchange tower, 2 the esplanade, perth wa 6000., perth Australia New Risk • Oct 03
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$7.2m free cash flow). Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$52.6m market cap, or US$36.1m). New Risk • Sep 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 60% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.3m free cash flow). Earnings have declined by 45% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Revenue is less than US$5m (AU$3.1m revenue, or US$2.1m). Market cap is less than US$100m (AU$53.7m market cap, or US$37.1m). New Risk • Sep 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.3m free cash flow). Earnings have declined by 45% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Revenue is less than US$5m (AU$3.1m revenue, or US$2.1m). Market cap is less than US$100m (AU$31.1m market cap, or US$21.4m). Ankündigung • Jun 19
Horizon Minerals Limited (ASX:HRZ) completed the acquisition of Greenstone Resources Limited (ASX:GSR). Horizon Minerals Limited (ASX:HRZ) agreed to acquire Greenstone Resources Limited (ASX:GSR) for AUD 13.3 million on February 13, 2024. Horizon Minerals Limited will issue 0.2868 shares for every one share of Greenstone. As of June 5, 2024, the transaction has been approved by Supreme Court of Western Australia. Argonaut Limited acted as financial advisor and Allen & Overy Australia acted as legal advisor for Horizon Minerals Limited. Steinepreis Paganin acted as legal advisor for Greenstone Resources Limited. BDO Corporate Finance (WA) Pty Ltd acted as financial advisor to Greenstone.Horizon Minerals Limited (ASX:HRZ) completed the acquisition of Greenstone Resources Limited (ASX:GSR) on June 18, 2024. Trading in Greenstone securities on the Australian Securities Exchange (ASX) was suspended from close of trading on June 6, 2024 and Greenstone will now apply to the ASX for the termination of official quotation and removal from the official list of the ASX, which is expected to take effect from close of business on June 18, 2024. Grant Haywood and Ashok Parekh have been appointed as new directors of Greenstone and Michael Edwards, Glenn Poole and James Croser have resigned as directors of Greenstone. Reported Earnings • Mar 13
First half 2024 earnings released: EPS: AU$0.002 (vs AU$0.003 in 1H 2023) First half 2024 results: EPS: AU$0.002 (down from AU$0.003 in 1H 2023). Net income: AU$1.41m (down 19% from 1H 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. New Risk • Feb 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 17% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$13m free cash flow). Earnings have declined by 63% per year over the past 5 years. Revenue is less than US$1m (AU$125k revenue, or US$81k). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (AU$29.4m market cap, or US$19.1m). Ankündigung • Feb 15
Horizon agreed to acquire Greenstone Resources Limited (ASX:GSR) Horizon Minerals Limited (ASX:HRZ) agreed to acquire Greenstone Resources Limited (ASX:GSR) for AUD 13.3 million on February 13, 2024. Ankündigung • Oct 06
Horizon Minerals Limited entered into a binding share sale agreement to acquire Two Bridgetown-Greenbushes Lithium Tenements from Charter Minerals Pty Ltd for AUD 0.227 million. Horizon Minerals Limited entered into a binding share sale agreement to acquire Two Bridgetown-Greenbushes Lithium Tenements from Charter Minerals Pty Ltd for AUD 0.227 million on October 5, 2023. The consideration consists of AUD 0.075 million in cash and 4 million ordinary Horizon Minerals Limited shares, to Charter shareholders. The two acquired projects are granted Exploration Licences (E70/5980, E70/5981) located 5km north and 10km southwest of Bridgetown respectively and cover a total area of 33km.
. Ankündigung • Sep 27
Horizon Minerals Limited, Annual General Meeting, Nov 20, 2023 Horizon Minerals Limited, Annual General Meeting, Nov 20, 2023, at 14:00 W. Australia Standard Time. Reported Earnings • Sep 19
Full year 2023 earnings released: AU$0.002 loss per share (vs AU$0.049 loss in FY 2022) Full year 2023 results: AU$0.002 loss per share (improved from AU$0.049 loss in FY 2022). Net loss: AU$1.01m (loss narrowed 96% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. New Risk • Sep 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 74% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (12% increase in shares outstanding). Revenue is less than US$5m (AU$3.0m revenue, or US$1.9m). Market cap is less than US$100m (AU$25.1m market cap, or US$16.0m). Ankündigung • Jul 17
FMR Investments Pty Ltd completed the acquisition of Gunga West gold project in Western Australian goldfields from Horizon Minerals Limited (ASX:HRZ). FMR Investments Pty Ltd agreed to acquire Gunga West gold project in Western Australian goldfields from Horizon Minerals Limited (ASX:HRZ) for AUD 0.4 million on June 17, 2022. Under the Agreement, FMR will pay AUD 0.4 million in cash on the following terms: Deposit of AUD 100,000 in cash, AUD 300,000 in cash on completion and access to FMR’s Greenfields toll mill in Coolgardie on commercial terms for ore treatment of 200,000 tonnes commencing in 2023. Completion is expected in the next four weeks and subject to standard conditions precedent for a transaction of this nature including due diligence, Ministerial consent, any third-party assignments and provision of mining information.FMR Investments Pty Ltd completed the acquisition of Gunga West gold project in Western Australian goldfields from Horizon Minerals Limited (ASX:HRZ) on July 17, 2023. The AUD 0.3 million cash payment received from FMR Investments. All conditions precedent including provision of signed transfers, all mining information and statutory consents have now been completed. New Risk • Jul 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 74% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (14% increase in shares outstanding). Revenue is less than US$5m (AU$3.0m revenue, or US$2.0m). Market cap is less than US$100m (AU$27.9m market cap, or US$19.0m). Reported Earnings • Mar 10
First half 2023 earnings released: EPS: AU$0.003 (vs AU$0.007 in 1H 2022) First half 2023 results: EPS: AU$0.003 (down from AU$0.007 in 1H 2022). Net income: AU$1.75m (down 53% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Ankündigung • Feb 17
Horizon Minerals Limited Announces Assay Results from Drilling Conducted by Metalhawk Limited from the 100% Owned Cannon and Golden Ridge Project Areas Horizon Minerals Limited announced assay results from drilling conducted by Metalhawk Limited from the 100% owned Cannon and Golden Ridge project areas located near Kalgoorlie-Boulder in the heart of the Western Australian goldfields. In 2022 Metalhawk completed a regional 123 hole, Air Core program about 25 km southeast of Kalgoorlie, close to the Golden Ridge and Cannon Projects. The drilling focussed on discovering new nickel mineralisation where Metalhawk have the Ni rights over a number of Horizon tenements in this area. In addition to the nickel suite of elements, Metalhawk Limited routinely assayed 5m composite samples for a multi-element package that included Ce, La. This data was made available to Horizon Minerals. Subsequently 8 holes with anomalous levels of Ce and La, were then selected for resampling as single meter intervals and tested for the complete Rare Earth Element (REE) suite, in addition to Sc, Y and La. The Cannon deposit occurs within Horizon's Bulong South gold project located 30km east-southeast of Kalgoorlie in the Eastern Goldfields region of Western Australia, on granted mining lease M25/333. The geology comprises a thickly interbedded sequence of ultramafics, high Mg basalts and shales with felsic porphyry and lamprophyric intrusive dykes. Gold is typically found in quartz veins in the basalt. The Cannon deposit was discovered by Southern Gold Limited in 2008 following up geochemical anomalies testing for strike extensions of the George's Reward mineralisation immediately north of the Bulong South deposit. The George's Reward prospect was initially held by Northern Mining Limited and comprised an Inferred Mineral Resource of approximately 23,000 ounces when purchased by Westgold Limited in 2015. The Golden Ridge area is largely associated with the north-south trending, sub vertical quartz- feldspar porphyry located between ultramafic, shales and cherts to the west and an ultramafic (talc- carbonate) sequences to the east. Gold mineralisation is similar to Boorara and observed in flat lying vein arrays and thicker, steeper dipping, contact style lodes. Drillhole resampling was undertaken on the 8 anomalous air core holes and specific composite intervals showing the highest Ce and La grades. The single splits were submitted to Intertek for aqua regia (partial) digest and multi-element assaying including the REE suite. More complete (full digest) work is planned during the metallurgical test work phase. Metalhawk completed 4 air core lines south of Cannon, three lines were barren but one line in particular returned significant amounts of saprolitic hosted REE enrichment. The mineralisation was about 30m deep, flat lying and laterally extensive. There is very little other REE data around this area, further work would focus on testing the REE thickness and grade potential to the north and south. The bulk of the Metalhawk drilling was directed to the Snake Hill area, 2km east of Golden Ridge where there appears to be linear zone of scandium enrichment in the regolith. Central to this, BVA065 recorded a maximum single meter scandium assay of 445 g/t from 32m. Scandium is often found as a weathering product from ultramafic rocks. These ultramafic rocks are common around the Golden Ridge area also and would likely be prospective for hosting scandium enrichment. Horizon's focus remains on obtaining all the permitting and approvals necessary to bring the high grade Cannon underground gold mine into production later this year. A preliminary review of REE's in general has identified that one of the main issues of developing a low grade clay hosted REE is the cost of extraction and concentrate recovery. If this cost can be achieved efficiently, the project economics would be enhanced. Horizon will submit drill samples for metallurgical testing, including beneficiation and processing pathways (e.g. "ammonium sulphate process"). Should the results be encouraging, a scoping study based on a conceptual resource model for both the REE and scandium will be undertaken. Ankündigung • Jan 21
An Unknown buyer acquired 13.16% stake in Kingwest Resources Limited (ASX:KWR) AUD 1.3 million. An Unknown buyer acquired 13.16% stake in Kingwest Resources Limited (ASX:KWR) for AUD 1.3 million on Jan 19, 2023.
An Unknown buyer completed the acquisition of 13.16% stake in Kingwest Resources Limited (ASX:KWR) on Jan 19, 2023. Board Change • Nov 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Peter Bilbe was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 29
Full year 2022 earnings released: AU$0.049 loss per share (vs AU$0.004 profit in FY 2021) Full year 2022 results: AU$0.049 loss per share (down from AU$0.004 profit in FY 2021). Net loss: AU$28.0m (down AU$30.5m from profit in FY 2021). Production and reserves: Gold Proved and probable reserves (ore): 0.135 Mt Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Peter Bilbe was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 10
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0.007 (up from AU$0.004 in 1H 2021). Revenue: AU$2.34m (down 83% from 1H 2021). Net income: AU$3.75m (up 85% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 08
First half 2021 earnings released: EPS AU$0.004 (vs AU$0.006 in 1H 2020) The company reported a decent first half result with improved revenues, although earnings and profit margins were weaker. First half 2021 results: Revenue: AU$14.1m (up AU$14.1m from 1H 2020). Net income: AU$2.03m (down 18% from 1H 2020). Profit margin: 14% (down from 568,038% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 74% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Oct 06
Insider recently sold AU$454k worth of stock On the 5th of October, Michael Ruane sold around 7m shares on-market at roughly AU$0.063 per share. In the last 3 months, they made an even bigger sale worth AU$2.0m. Insiders have been net sellers, collectively disposing of AU$2.3m more than they bought in the last 12 months. Ankündigung • Aug 22
Horizon Minerals Limited announced that it has received AUD 2 million in funding On March 23, 2020, Horizon Minerals Limited (ASX:HRZ) closed the transaction. 
