Board Change • May 21
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 Peter Venn 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. Announcement • Apr 03
Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 10.178418 million. Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 10.178418 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,246,810
Price\Range: AUD 1.2
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,235,205
Price\Range: AUD 1.2
Discount Per Security: AUD 0.072
Transaction Features: Rights Offering Board Change • Dec 30
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. 1 highly experienced director. 1 independent director (3 non-independent directors). Independent Non-Executive Director Peter Venn 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. Announcement • Oct 03
Horizon Gold Limited, Annual General Meeting, Nov 20, 2025 Horizon Gold Limited, Annual General Meeting, Nov 20, 2025. Announcement • Sep 01
Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 6.952274 million. Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 6.952274 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,400,670
Price\Range: AUD 0.48
Discount Per Security: AUD 0.0288
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,083,234
Price\Range: AUD 0.48
Transaction Features: Rights Offering Announcement • Jul 29
Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 4.9536 million. Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 4.9536 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,320,000
Price\Range: AUD 0.48
Discount Per Security: AUD 0.0288
Transaction Features: Subsequent Direct Listing Announcement • Mar 26
Horizon Gold Limited Announces Transition of Peter Sullivan as Executive Chairman Horizon Gold Limited announced that Peter Sullivan, currently serving as Non-executive Chairman, will transition to the role of Executive Chairman with immediate effect. This move is aimed at strengthening the executive capabilities of the Company with a focus on corporate development as the Company advances through the Gum Creek Feasibility Study. Announcement • Nov 14
Patronus Resources Limited (ASX:PTN) completed the acquisition of 8.42% stake in Alto Metals Limited (ASX:AME). Patronus Resources Limited (ASX:PTN) acquired 8.42% stake in Alto Metals Limited (ASX:AME) on November 14, 2024.
Patronus Resources Limited (ASX:PTN) completed the acquisition of 8.42% stake in Alto Metals Limited (ASX:AME) on November 14, 2024. Recent Insider Transactions • Nov 08
Non-Executive Chairman recently bought €479k worth of stock On the 1st of November, Peter Sullivan bought around 2m shares on-market at roughly €0.24 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. Announcement • Oct 03
Horizon Gold Limited, Annual General Meeting, Nov 21, 2024 Horizon Gold Limited, Annual General Meeting, Nov 21, 2024. Reported Earnings • Sep 21
Full year 2024 earnings released: AU$0.012 loss per share (vs AU$0.017 loss in FY 2023) Full year 2024 results: AU$0.012 loss per share (improved from AU$0.017 loss in FY 2023). Net loss: AU$1.71m (loss narrowed 20% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. New Risk • Sep 19
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m (AU$62k revenue, or US$42k). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€30.1m market cap, or US$33.6m). Announcement • Sep 11
Horizon Gold Limited ORDINARY FULLY PAID to Be Deleted from OTC Equity Horizon Gold Limited ORDINARY FULLY PAID (Australia) will be deleted from OTC Equity effective September 10, 2024, due to Inactive Security. Announcement • Aug 21
Horizon Gold Limited Announces Resignation of Dugald Morrison as Non-Executive Director Horizon Gold Limited announced that effective now that Mr. Dugald Morrison has resigned as a Non-executive Director of the Company to focus on other executive commitments. Date that director ceased to be director 20 August 2024. Reported Earnings • Mar 11
First half 2024 earnings released: AU$0.009 loss per share (vs AU$0.005 loss in 1H 2023) First half 2024 results: AU$0.009 loss per share (further deteriorated from AU$0.005 loss in 1H 2023). Net loss: AU$1.12m (loss widened 65% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. New Risk • Mar 06
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: -AU$2.5m 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 (-AU$2.5m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Revenue is less than US$1m (AU$62k revenue, or US$40k). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€21.3m market cap, or US$23.1m). New Risk • Nov 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor 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 Share price has been highly volatile over the past 3 months (15% average weekly change). Revenue is less than US$1m (AU$135k revenue, or US$88k). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€25.1m market cap, or US$27.3m). Announcement • Nov 14
Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 5.897485 million. Horizon Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 5.897485 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 19,658,282
Price\Range: AUD 0.3
Discount Per Security: AUD 0.003
Transaction Features: Rights Offering Announcement • Oct 05
Horizon Gold Limited, Annual General Meeting, Nov 23, 2023 Horizon Gold Limited, Annual General Meeting, Nov 23, 2023, at 09:30 W. Australia Standard Time. Reported Earnings • Sep 20
Full year 2023 earnings released: AU$0.017 loss per share (vs AU$0.005 loss in FY 2022) Full year 2023 results: AU$0.017 loss per share (further deteriorated from AU$0.005 loss in FY 2022). Net loss: AU$2.14m (loss widened 340% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. New Risk • Aug 23
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 German stocks, typically moving 6.6% 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$6.3m free cash flow). Revenue is less than US$1m (AU$150k revenue, or US$97k). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Market cap is less than US$100m (€23.1m market cap, or US$25.1m). Reported Earnings • Mar 14
First half 2023 earnings released: AU$0.005 loss per share (vs AU$0.008 loss in 1H 2022) First half 2023 results: AU$0.005 loss per share (improved from AU$0.008 loss in 1H 2022). Net loss: AU$679.0k (loss narrowed 17% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Board Change • Nov 17
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Peter Venn is the most experienced director on the board, commencing their role in 2016. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Sep 16
Full year 2022 earnings released: AU$0.005 loss per share (vs AU$0.012 loss in FY 2021) Full year 2022 results: AU$0.005 loss per share (improved from AU$0.012 loss in FY 2021). Net loss: AU$487.0k (loss narrowed 55% from FY 2021). Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Peter Smith is the most experienced director on the board, commencing their role in 2016. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Mar 10
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.008 loss per share (down from AU$0.004 loss in 1H 2021). Net loss: AU$819.0k (loss widened 142% from 1H 2021). Revenue was in line with analyst estimates. Reported Earnings • Sep 24
Full year 2021 earnings released: AU$0.012 loss per share (vs AU$0.06 profit in FY 2020) Full year 2021 results: Net loss: AU$1.07m (down 123% from profit in FY 2020). Reported Earnings • Mar 11
First half 2021 earnings released: AU$0.004 loss per share (vs AU$0.015 loss in 1H 2020) First half 2021 results: Net loss: AU$339.0k (loss narrowed 70% from 1H 2020). Is New 90 Day High Low • Jan 06
New 90-day high: €0.31 The company is up 13% from its price of €0.28 on 08 October 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 44% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: €0.30 The company is up 5.0% from its price of €0.28 on 18 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 15% over the same period. 
