New Risk • Apr 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Share price has been highly volatile over the past 3 months (36% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$9.79m market cap, or US$7.24m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). New Risk • Mar 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$6.92m (US$5.11m) This is considered a major risk. Companies with a small market capitalization 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 Share price has been highly volatile over the past 3 months (26% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.92m market cap, or US$5.11m). Annonce • Feb 20
Horizonte Minerals Plc Announces Executive Changes Horizonte Minerals Plc announced that Maryse Bélanger, interim Chief Operating Officer of the Company will step down as COO effective 21 February 2024, following a period of handover to Graham Crew, who is appointed as new interim COO. Mr. Crew was Chief Technical Officer of La Mancha Resource Capital LLP ("La Mancha"), which advises La Mancha Resource Fund SCSp, one of the Company's major shareholders. Mr. Crew has been on a period of secondment to the Company in recent months having stepped down from his day-to-day executive role within La Mancha. He was previously a Non-executive Director at Golden Star Resources Limited before becoming Chief Operating Officer. He has extensive operational experience in Australia, Africa and Asia and was previously Operations Manager for La Mancha Resources Australia, including the development and construction and ramp up of the Mungari processing facility, prior to the divestment of those assets to Evolution Mining. He began his career with Western Mining Corporation at Olympic Dam and Leinster Nickel Operations. He holds a B.Eng (Mining Engineering) from the West Australian School of Mines, is a Member of the Australian institute of Corporate Directors and a Fellow of the Australasian Institute of Mining & Metallurgy. Annonce • Dec 28
Horizonte Minerals Plc announced that it expects to receive £20 million in funding Horizonte Minerals Plc announced a private placement of non-convertible senior secured loan for gross proceeds of $20 million on December 27, 2023. The transaction include the participation from returning lenders La Mancha Investments S.A R.L., Orion Mine Finance, OMF FundIII (Cr) Ltd. and Glencore International AG. The interest payment date is December 31, 2023. Annonce • Dec 19
Horizonte Minerals plc Announces Board Appointments Horizonte Minerals Plc announced the appointments of Paul Smith as Non-Executive Director and Chair of the Board of the Company and of Karim Nasr as an Executive Director of the Company. As previously announced on 27 November 2023, the Board proposed the appointment of Paul Smith as Non-Executive Director and Chair, succeeding Vincent Benoit who had agreed to act as interim Chair and who will now continue his role as a Non-Executive Director, in addition to theappointed Mr. Nasras an Executive Director. Mr. Smith and Mr. Nasr's appointments weresubject to receipt of the usual director certifications in accordance with the AIM Rules. The Company's Nominated Advisor, Peel Hunt, have now completed the due diligence processes, and Mr. Smith's and Mr. Nasr's appointmentshave been confirmed by the Board, effective immediately. Following this announcement, Horizonte's Board will be comprised of five members, of which the following three members are considered independent under the QCA Corporate Governance Code: Paul Smith, Gillian Davidson and John MacKenzie. Mr. Nasr has also been appointed as interim CEO to lead the financing and restructuring process for the Company and to work with the Board to appoint a new senior leadership team. In the process, Mr. Nasr temporarily stepped down from his day-to-day executive role within La Mancha Resource Capital LLP to devote himself to Horizonte, agreeing to a Conflict of Interest Protocol, a summary of which is set out below. Board Change • Dec 05
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Gillian Davidson is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Annonce • Oct 24
Horizonte Minerals plc Provides Updates on Construction HORIZONTE MINERALS provided Q3-2023 CON Construction progress continues to be made at Araguaia. Strong safety performance, no lost time injuries with close to 5.1 million hours worked. Rotary Kiln sections have been installed on the support piers. The furnace shell is complete with roof installation underway. All critical equipment packages have been contracted and are either on site or en route to site. As of 30 September, 138,000 tonnes of ore averaging 1.92% Ni has been stockpiled. Commissioning of the 126 km (230kV) power transmission line underway. USD429 million has been spent at Araguaia as of 30 September 2023. Reta Engenharia's detailed capital cost and schedule analysis is on-going, with the updated estimate being assessed to meet the requirements of AACEI Class 1, improved from the estimate utilised in September 2022. Principal capital changes are linked to the following: Civil works: the development of engineering maturity and identification of new scopes to the project resulted in increases in civil quantities (concrete, rebar and formwork) and the corresponding rise in the installation costs. These changes relate to the water storage reservoir, the water abstraction pipeline, selected major equipment packages and equipment interfaces. More detailed information will be given once the final engineering study is complete by mid Fourth Quarter-2023. Project FINANCING ACTIVITIES. Araguaia line 2: FEASIBILITY Study EXPECTED in Fourth Quarter 2023. The results from the Feasibility Study on Araguaia Line 2 remain on track to be published in mid fourth quarter-2023. Forward-looking information includes, but is not limited to, the ability of the Company to complete a positive feasibility study regarding the second RKEF line at Araguaia on time, or at all, the success of exploration and mining activities; cost and timing for delivery of the equipment to be purchased, the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the realization of mineral resource and reserve estimates and achieving production in accordance with the Company's potential production profile or at all. Annonce • Oct 05
Horizonte Minerals Plc Provides Update on Araguaia Nickel Project Construction Horizonte Minerals Plc announces that it has made good progress in completing the final detailed engineering and construction design for Line 1 of its 100%-owned Araguaia Nickel Project ("Araguaia" or "the Project"). This work, along with a comprehensive cost review, has resulted in changes to the design and execution scope, which are expected to increase the overall capital expenditure requirement by at least 35% (of current capex budget) and delay first production to Q3-2024. Given the progress made to date with construction, the value of the Araguaia Line 1 Project and the upcoming delivery of the Feasibility Study on Araguaia Line 2, the Company continues to have strong support from its major partners. The Company is working on a plan with its various financial institutions together with the cornerstone shareholdersfor a financing solution to complete construction. Construction work on site continues to progress well with all key engineering drawings issued for construction. Ore stockpiling activities commenced last quarter, and ROM build-up is progressing to schedule. The rotary dryer is now in place, with all shells aligned for final welding. Construction of the 126km, 230kV transmission line is well advanced, with all pylons erected and 118km of conductor cable installed. Construction of the water storage reservoir is also well advanced, with the initial sections of the water abstraction pipeline positioned and foundations poured for the river abstraction pump station. To de-risk the operation, the final detailed engineering work has added additional scope items linked to the major equipment packages, made several enhanced design changes from the original engineering study (including changes to the water abstraction pipeline design and water storage reservoir), and has identified the requirement for additional civil works and quantities. Additionally, changes have been required with selected suppliers who have not been able to deliver to the project timeframe, which has added further cost pressures. Accordingly, the Company engaged Reta Engenharia to undertake an independent review of the remaining capital expenditure and schedule, incorporating the change in scope, material and quantity variations, increased project duration to first metal and associated costs, and additional working capital requirements. The Company has also undertaken a detailed review of the ramp up and operational costs. The Company expects to publish an update by mid Q4-2023 once this review is complete. The results from the Feasibility Study on Araguaia Line 2 remain on track to be published in Q4-2023. The combined production of Araguaia Line 1 and 2 is expected to be 29,000 tonnes per annum. New Risk • Oct 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$289m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-US$289m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (42% increase in shares outstanding). Price Target Changed • Oct 05
Price target decreased by 53% to CA$3.00 Down from CA$6.33, the current price target is an average from 4 analysts. New target price is 545% above last closing price of CA$0.47. Stock is down 68% over the past year. The company is forecast to post a net loss per share of US$0.055 next year compared to a net loss per share of US$0.026 last year. New Risk • Oct 02
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 Canadian stocks, typically moving 20% 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 (20% average weekly change). Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$289m). Shareholders have been diluted in the past year (42% increase in shares outstanding). Annonce • Sep 12
Horizonte Minerals plc Announces Demise of David Hall, Co-Founder and Former Chairman Horizonte Minerals Plc announced the demise of David Hall, the Company's co-founder and former Chairman. The Board extends its deepest condolences to the Hall family and would like to thank David for his leadership and the integral part he played in the establishment, development, and growth of Horizonte Minerals. The company will carry on with his vision and honour his legacy. David began his career studying Geology at Trinity College Dublin and during his early career spent time in Africa, Europe and the Middle East. He went on to become AngloGold's South American Exploration Manager before establishing numerous junior exploration and development companies, including Horizonte Minerals. Annonce • Aug 25
Horizonte Minerals plc Appoints Fernando Marino as its Operations Director Horizonte Minerals Plc strengthen its management team with the appointment of Mr. Fernando Marino as its Operations Director for the Araguaia Nickel Project ("Araguaia" or "the Project"). Fernando has over 35 years of experience in the resources industry, with a strong track record of ramping up and operating mining operations in Brazil. He worked across a range of mining operations for Vale in Brazil, including as Director of Operations at Onça Puma, a ferronickel operation in Para state located approximately 250 km from Araguaia. During his time at Onça Puma, he managed the initial ramp-up phase and subsequently implemented improvements to the original furnace design in conjunction with Hatch (Araguaia's furnace vendor). Additionally, he led a comprehensive review of the operational, maintenance and safety procedures, resulting in a record annual production of 25,000 tonnes of nickel, without any lost-time accidents. Prior to joining Horizonte, Fernando was Executive Manager at Vale's Base Metals South Atlantic operations, and previously managed the Salobo copper mine and plant. Annonce • Aug 24
Horizonte Minerals plc Appoints Fernando Marino as Its Operations Director for the Araguaia Nickel Project Horizonte Minerals Plc announced the appointment of Mr. Fernando Marino as its Operations Director for the Araguaia Nickel Project ("Araguaia" or "the Project"). Fernando has over 35 years of experience in the resources industry, with a strong track record of ramping up and operating mining operations in Brazil. He worked across a range of mining operations for Vale in Brazil, including as Director of Operations at Onça Puma, a ferronickel operation in Para state located approximately 250 km from Araguaia. During his time at Onça Puma, he managed the initial ramp-up phase and subsequently implemented improvements to the original furnace design in conjunction with Hatch (Araguaia's furnace vendor). Additionally, he led a comprehensive review of the operational, maintenance and safety procedures, resulting in a record annual production of 25,000 tonnes of nickel, without any lost-time accidents. Prior to joining Horizonte, Fernando was Executive Manager at Vale's Base Metals South Atlantic operations, and previously managed the Salobo copper mine and plant. Annonce • Aug 03
Horizonte Minerals Plc Announces Second Quarter of 2023 Araguaia Construction Update Horizonte Minerals Plc reported that it is continuing to make good progress on the construction of its 100%-owned Araguaia Nickel Project Line 1 (the Project). The company is targeting first metal in first quarter of 2024. As of 30 June 2023, approximately 65% of the overall Araguaia Line 1 construction programme has been completed, physical site construction was 53% advanced with ore stockpiling having now commenced following the issuance of the mining permit during the quarter. Additionally, a major milestone in the quarter was the safe delivery to site of the rotary kiln, a key long lead item. The 11 steel sections will now be aligned and welded together before being lifted into place for final installation on the kiln piers. Off-site, construction of the 126km, 230kV transmission line is well advanced with over 90% of the pylons erected and 42 km of conductor cable installed. Construction of the water storage reservoir has commenced. As of 30 June 2023, a total of USD 329 million has been spent on the Araguaia construction out of the budgeted capital requirement of USD 537 million. As at quarter-end, the company had total liquidity and funding sources of USD 344 million. The FS for Horizonte's 100% owned Vermelho project in Brazil, is currently on-going and is expected to be published in 2024. Vermelho has a high-grade scalable resource with a long mine life. Given Vermelho's geological characteristics, the ore has the ability to be processed either through High-Pressure Acid Leach ("HPAL") or Rotary Kiln Electric furnace ("RKEF") technologies. As part of the study and driven by the evolving market dynamics, Horizonte is evaluating the optimal final nickel product that will supply the critical metals market. Breakeven Date Change • Jul 07
Forecast to breakeven in 2024 The 4 analysts covering Horizonte Minerals expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$14.6m in 2024. Average annual earnings growth of 61% is required to achieve expected profit on schedule. Annonce • Jul 07
Horizonte Minerals plc Receives Mining Approval for Araguaia Horizonte Minerals plc announced that it has received its mining approval permit for its 100%-owned Araguaia Nickel Project in Brazil. The approval was issued by the Para State Secretariat for Environment and Sustainability ("SEMAS") and enables Horizonte to commence its mining activities, with initial work underway to establish ore stockpiles on the ROM pad ahead of the commissioning phase. The approval enables the Company to mine, stockpile, and categorise ore, optimising the consistency of the feedstock, a process required to mitigate risk during commissioning which is a key part of the mine-to-mill strategy. Over the course of the next six months, stockpiles will be established, with sufficient ore to feed the plant for the subsequent six months. The Pequizeiro Pit, located 750 metres from the plant site, will be the primary source of ore to Araguaia, supplying the first two years of the Project's mine life and contributing over 50% of the mine production for the first ten years. Annonce • Jun 30
Horizonte Minerals plc Announces Construction Milestone At Its 100%-Owned Araguaia Nickel Project in Brazil Horizonte Minerals Plc announced that a construction milestone has been achieved at its 100%-owned Araguaia Nickel Project in Brazil, following the successful delivery to site of the rotary kiln, a key long lead item. The rotary kiln is a key part of the process flow sheet at Araguaia. Its safe delivery to site is therefore an important milestone in the construction schedule given it is one of the key long lead packages. The FLSmidth supplied rotary kiln was designed and built according to the standards which will allow Araguaia to meet its low cost and low environmental impact targets. The 11 individual sections of the kiln will now be welded together over the course of the next month, before the sections are lifted into place on top of the kiln piers for final welding and alignment. Annonce • Jan 25
Horizonte Minerals plc Submits Environmental and Social Impact Assessment for Its Vermelho Nickel Cobalt Project Horizonte Minerals Plc announced that it has advanced the permitting process for its 100%-owned Vermelho Nickel Cobalt Project (‘Vermelho’ or ‘the Project’), located 160km from the Company's construction-stageAraguaia Nickel Project (‘Araguaia’),in parallel with ongoing work on the Feasibility Study which is expected to be published in first half of 2024. The Company has submitted the Environmental and Social Impact Assessment (‘EIA’) and the associated Relatório de Impacto Ambiental (‘RIMA’) with the Pará State Secretariat for Environment and Sustainability (‘SEMAS’) and it is targeting the approval of the EIA/RIMA and subsequent granting of a Preliminary Licence (‘LP’) in Mid-2024. The granting of the LP is the first in a three-stage environmental Licensing process to develop a mine in Brazil. Through the granting of the LP, SEMAS confirms that the Project is acceptable from an environmental and social perspective. Over the course of an 18-month period, Horizonte, in conjunction with Rambol Group (‘Rambol’) (a leading global environmental and social consultancy firm) together with Integratio (a leading Brazilian social consultancy firm) undertook the collection and analysis of the baseline social and environmental data specified by SEMAS, to document the current physical, biological and social settings at Vermelho. This process was enhanced through leveraging the extensive database of historical environmental and social data previously collected at Vermelho by Vale S. A (‘Vale’), the previous owner of the Project. Horizonte acquired Vermelho from Vale in 2017, after Vale had successfully attained an LP for the project and subsequently made a positive construction decision in 2005. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 3 analysts covering Horizonte Minerals expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$10.6m in 2025. Average annual earnings growth of 44% is required to achieve expected profit on schedule. Price Target Changed • Nov 16
Price target decreased to CA$6.17 Down from CA$8.13, the current price target is an average from 3 analysts. New target price is 311% above last closing price of CA$1.50. Stock is down 58% over the past year. The company posted a net loss per share of US$0.15 last year. Annonce • Oct 07
Horizonte Minerals Plc Provides Progress Update on Araguaia Nickel Project Horizonte Minerals Plc provide a progress update for its 100% owned Araguaia Nickel Project. Following the ground breaking at Araguaia in May 2022, good progress has been achieved, with overall project progress of approximately 16% as at 30 September 2022, and site construction activities moving forward in accordance with the planned construction schedule. Early works including the municipal and state road improvements are nearing completion ahead of the wet season, ensuring safe and secure access to the site from the nearby township of approximately 46,000 people of Conceição do Araguaia. The 13.8 kV local power line to support site construction is being installed and planned to be energised in October. Companhia Paranaense de Construção S.A. ("Copa") were awarded the Earthworks and Civil engineering contract, currently approximately 41% and 4% advanced respectively, with work focused on the furnace and rotary kiln foundations. The bulk earthworks scope covering all key plant platforms is completed to the stage where concrete foundations are being installed, with initial focus on the crusher retaining wall and foundation, and the furnace foundation. Further, 45 piles have been installed for the kiln foundations to date and work has begun on the water storage reservoir. Main power line construction awarded to Remo Engineering, with two work fronts established and tower construction underway. All major and long-lead-time process plant equipment contracts have been awarded. The furnace base plate components supplied by Hatch arrived on site on 3rd October, with onsite assembly and erection expected to commence within the next two weeks, and FLSmidth is also well advanced with manufacturing of the rotary kiln. Further, the Company has secured all key equipment supply and technical support services for the balance of the Araguaia process flow sheet from leading global suppliers. Combined, these contract awards act as a significant de-risking event for the Project. Social programmes including SENAI vocational training continue, with 362 community members having already graduated or enrolled to provide a locally sourced workforce for the construction phase and the ongoing operation of Araguaia. As part of working towards the Company's objective of producing 29,000 tpa nickel at Araguaia an engineering study is planned for Line 2 with the objective of providing an AACE Class 3 cost estimate and to advance the basic engineering. The Horizonte project team have worked diligently to mitigate inflationary pressures on the Project budget to date which has included extensive efforts to optimise quantities through lean design and engineering, maximising competitive tension with Project suppliers and the successful deployment of a business improvement culture across the organisation, yielding material cost savings. Together, these efforts have allowed USD 375 million of capital commitments to be placed on budget as of the end of August 2022. However, notwithstanding the strong progress made to date and these cost mitigation initiatives, the Project continues to face cost pressures driven by global inflation, a robust construction and mining environment in Brazil and rising interest rates, amongst others. With a number of key local service contracts nearing award the Company now forecasts that the total project capital expenditure is expected to be USD 537 million, versus the USD 477 million originally budgeted in November 2021. Whilst the majority of this increase is driven by inflationary pressures the Company has also opted to invest in additional EP CM and owners team resources to further de-risk the Project schedule and seek to ensure delivery of first nickel in first quarter of 2024, in line with the original plan. Annonce • Oct 06
Horizonte Minerals Plc has completed a Follow-on Equity Offering in the amount of £70.5 million. Horizonte Minerals Plc has completed a Follow-on Equity Offering in the amount of £70.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 77,900,552
Price\Range: £0.905
Transaction Features: Regulation S; Subsequent Direct Listing Price Target Changed • Jul 29
Price target decreased to CA$8.13 Down from CA$9.00, the current price target is an average from 3 analysts. New target price is 367% above last closing price of CA$1.74. Stock is down 17% over the past year. The company is forecast to post a net loss per share of US$0.021 next year compared to a net loss per share of US$0.15 last year. Annonce • May 19
Horizonte Minerals plc Announces Breaking Ground At the Araguaia Nickel Project Horizonte Minerals Plc announced that the Company has officially commenced construction and broken ground at its Araguaia Nickel Project. A ground breaking ceremony was held on 18 May 2022. This key milestone marks the transition of the Project from development to the construction phase. This Tier 1 project has a 24-month construction timeframe with Stage 1 (first line) target production of 14,500 tpa of nickel. Araguaia will be a large high-grade, scalable, low-cost producer, with a long mine life and will be a low-carbon source of ferronickel. The Company has awarded the majority of the key long-lead equipment contracts, including the award of the furnace, earthworks contract, the EPCM contract and has now broken ground. A significant amount of progress has been made in the four months since Project approval, focussed around early works and site preparation ahead of the main mobilisation of the earthwork's contractor, basic and detailed engineering and the tender and award of a number of key process equipment packages. Annonce • May 05
Horizonte Minerals PLC Appoints Philipa Varris as Head of Sustainability Horizonte Minerals Plc announced the appointment of Philipa Varris as Head of Sustainability with immediate effect. Philipa joins the Company's growing senior management team in London, working closely with the Araguaia and Vermelho project teams in Brazil. Price Target Changed • Apr 27
Price target decreased to CA$0.52 Down from CA$0.57, the current price target is an average from 3 analysts. New target price is 297% above last closing price of CA$0.13. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of UK£0 next year compared to a net loss per share of UK£0.0057 last year. Recent Insider Transactions • Apr 10
Independent Non-Executive Director recently bought CA$65k worth of stock On the 6th of April, Allan Walker bought around 566k shares on-market at roughly CA$0.11 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Annonce • Apr 01
Horizonte Minerals Plc announced that it has received $65 million in funding from La Mancha Investments S.A R.L. On March 31, 2022, Horizonte Minerals Plc closed the transaction. Annonce • Jul 15
Horizonte Minerals plc Provides Araguaia Nickel Project Operational Update Horizonte Minerals Plc provided an operational update for the Araguaia Nickel Project ("Araguaia" or "the Project"). Highlights: Significant progress on key project execution preparation activities, including competitive tendering for supply of key processing equipment, electric furnace and project management (EPCM) services; Operational Readiness Plan well advanced with all key permits in place for commencement of construction; Financing discussions remain on track. Credit committee approval for the senior debt facility expected in Third Quarter 2021 as previously announced; Key environmental and social programmes continuing in preparation for construction phase; Mobilisation of Head of Projects to Brazil and appointment of Engineering, Community, Health and Safety Managers continues the build out of the project execution team. Project Execution Readiness: Based on the optimised scope and execution plan that was generated by the Value Engineering work (see announcement 4 December 2020), the past six months have focused on final preparations for project execution. The objectives of this project readiness process has been to: Define the final process equipment specification and suppliers that will be used by the Project, particularly the electric furnace and rotary kiln; Identify and partner with the best-placed Engineering, Procurement and Construction Management (EPCM) contractor to deliver the Project; Update and detail the Project Execution Plan to reflect these inputs; and Optimise the Operational Readiness Plan. Key outcomes of the work include: Prioritising procurement of linked process equipment as 'process island packages' where possible, to reduce interface risk; Contract negotiations being well advanced with all key vendors following the completion of a detailed and rigorous assessment process of all technical and commercial proposals received and subsequent proposal optimisation process; Competitive tenders completed and significant progress made on the following key packages: Process equipment including crushers, conveyors, electrical, dryer, kiln, dust collection and refinery; Electric furnace and calcine transfer system; Overland powerline and main electrical infrastructure EPC; and Construction contracts, including bulk earthworks, temporary construction infrastructure and services, and civil works; Updated market proposals for key opex inputs; and Capital expenditure and operational expenditure remain in line with the Value Engineering work. Horizonte's environmental and social workstreams are critical to social licence to operate. As part of the financing due diligence phase and in preparation for the construction of the Project, the sustainability team has further de-risked Araguaia by completing a number of management plans to ensure Araguaia remains compliant with Equator Principles (IV) and IFC Performance Standards with input by consulting groups ERM and Kienbaum. The Company has permitted all infrastructure components of Araguaia, including the award of construction licences for the transmission line and the water pipeline in early 2021. A full suite of social and environmental control plans were developed as part of Araguaia's Brazilian environmental construction licences, and a number of programmes have commenced prior to construction. Some examples of work commenced include the resettlement action plan, social communication programme, safety improvements for school communities located along the PA-449 highway, and the Local Development Agenda programme. Annonce • Mar 11
Horizonte Minerals Plc announced that it has received £6.604508 million in funding On March 9, 2021, Horizonte Minerals Plc (AIM:HZM) closed the transaction. The company issued 88,060,100 Special Warrants for gross proceeds of £6,604,508. The Special Warrants are subject to a hold period under Canadian securities laws until July 10, 2021. The Offering has been conditionally approved by the TSX and remains subject to final acceptance by the TSX. Annonce • Mar 09
Horizonte Minerals Plc, Annual General Meeting, May 17, 2021 Horizonte Minerals Plc, Annual General Meeting, May 17, 2021. Annonce • Mar 01
Horizonte Minerals plc Appoints Michael Drake as Head of Projects Horizonte Minerals Plc announced the appointment of Michael Drake as Head of Projects. In his role as Head of Projects, Michael’s primary responsibility will be overseeing the development of Horizonte’s two 100% owned projects, the Araguaia ferro-nickel project (“Araguaia”) and the Vermelho nickel-cobalt project (“Vermelho”). Work is currently focussed on starting construction at Araguaia subject to closing project finance, while Vermelho is being progressed through to feasibility study and permitting. Michael will be based out of the company’s Brazilian headquarters in Belo Horizonte, where he will work closely with the Company’s in-country team. Annonce • Feb 26
Horizonte Minerals Awarded the Construction Licence Package for the Development of the Power Line for Its 100% Owned Araguaia Ferronickel Project Horizonte Minerals Plc announced that it has been awarded the construction licence package for the development of the power line for its 100% owned Araguaia Ferronickel Project. The approved package includes the preliminary licence (Licença Prévia), the construction licence, and the related fauna and flora licences. These were granted by the Pará State Environmental Agency, Secretaria de Meio Ambiente e Sustentabilidade (‘SEMAS’). This licence package permits the implementation of a 120km, 230KV power line, and respective substation. The power line will connect Araguaia to the national power grid and will cover the full power requirement for the Project at nameplate capacity. Annonce • Feb 20
Horizonte Minerals Plc has completed a Follow-on Equity Offering in the amount of £12.203876 million. Horizonte Minerals Plc has completed a Follow-on Equity Offering in the amount of £12.203876 million.
Security Name: Ordinary shares
Security Type: Common Stock
Securities Offered: 162,718,353
Price\Range: £0.075 Annonce • Dec 05
Horizonte Minerals Plc Provides Operational Update for the Araguaia Nickel Project Horizonte Minerals Plc announced to provide an operational update for the Araguaia Nickel Project as the Project moves towards construction. For the past eight months, the Araguaia project team, working alongside a number of leading global engineering groups, have been focused on advancing the level of engineering from feasibility stage to becoming implementation ready. The value engineering work is now complete, resulting in a number of positive outcomes. The objectives of the value engineering process have been to: Improve the level of engineering definition; Develop and execute the procurement strategy (linked with Export Credit Agency (“ECA”) finance and associated vendors); Establish a detailed Project Execution Plan; Initiate Engineering, Procurement and Construction Management (“EPCM”) vendor selection; and Develop an Operational Readiness Plan. Feasibility Study design philosophy and process flow sheet remain mostly unchanged, but with the addition of a number of improvements to enhance operational performance; Key equipment packages optimized and final negotiations underway for long-lead items; Level of engineering definition has been significantly advanced to allow fast track to start of implementation; Improved furnace and refinery technologies selected along with furnace control systems to improve reliability, productivity and ensure the right on site support during construction and ramp up; Updated market proposals for key opex inputs including power, logistics, labour and plant consumables; and Capex and opex remain in line with Feasibility Study values following comprehensive review. 