Horizonte Minerals Plc (HZM:AIM, HZM:TSX)
The company was awarded three new mineral exploration concession areas, adjacent to their 100% owned Araguaia nickel project. The concessions total 5,996 hectares which increases their land position to a total of 132,278 hectares. Horizonte will be undertaking a regional exploration programme to evaluate and advance these new areas as appropriate. These new areas could potentially increase their total nickel resources. The company plans to continue to expand their land position and consolidate prospective targets in the district.
CEO Jeremy Martin said, “The current focus is on a collection of base line environmental and social data for the Vale dos Sonhos deposit and development of environmental control plans to prepare Araguaia for the construction phase. We are pleased with the positive results from the PFS released earlier this month, demonstrating that Araguaia is cash flow positive at today’s nickel prices, which puts the project within a limited group of global assets that are considered viable in the current low price nickel environment. ”
The stock is trading up 3% on the news.