The new Gold Digger: HRZ

Metals and Mining Sector

The metals & mining sector is one of the primary sectors and a significant contributor to the Australian economy. It is the largest sector on the ASX with more than six hundred companies engaged in mineral exploration & production, and development.

Investment in gold stocks

Gold investments are the safest investments for investors in times of market instability. Investment in gold stocks can be made by buying stocks in gold miners, ETFs, or buying a physical product. Investments in the gold stocks can also add diversification to an investor’s portfolio and are more attractive for growth investors. A small increment in the gold prices can result in a huge gain for the investors.

On 16 January 2020, the S&P/ASX 300 Metals and Mining (Industry) index is trading at 4656.3 points, with a fall of 0.01 percent (as at AEDT 3:54 PM). At the same time, S&P/ASX 200 Index was trading at 7036 points, up by 0.6 per cent from its previous close.

Horizon Minerals Limited (ASX: HRZ)

Horizon Minerals Limited is a gold producer with a strong presence in Western Australia where it has multiple gold projects. The company has a highly experienced management team led by the non-executive chairman, Mr Peter Bilbe. Horizon has large tenement holdings in Western Australia that host more than one million ounces of gold in resources.

Horizon Resets Growth Strategy

On 07 January 2020, the company shared an update on its growth plan and summarized major production and resource growth objectives for 2020. Key highlights of the announcement are as follows:

  • Strategic plan being executed with an emphasis on cash generation from gold production in the near-term.
  • The main aim remains the same – build a long-term production profile revolving around the Boorara gold project
  • The grade control model will be optimised to create an initial mining inventory through three starter pits. The objective is to begin mining in the quarter ending June 2020 and toll milling in the quarter ending September 2020.
  • Availability of early cash flow and improved geological confidence will be driven by Boorara project development. Large scale development of the project will also be assessed
  • Horizon will continue evaluating consolidation prospects and look for additional value from other mineral projects and JVs.

The company’s Managing Director commented:

Horizon completes Tenement agreement with Northern Star Resources

On 20 December 2019, the company announced the completion of a tenement exchange agreement with Northern Star Resources. Under the agreement, Horizon agreed to divest its 100 per cent interest in the New Mexico, Anthill, White Flag, Blister Dam, and Kanowna North tenements and acquire 100 per cent interest in Northern Star’s Brilliant North, Rosehill, and Gunga West projects.

The company finished a detailed review of all projects to feed into the 2020 plans relating to exploration, mine development and resource growth. Horizon Minerals would conduct an independent and Internal review of the geological models for these projects.

Horizon Mineral Provides update on Crake Project

On 10 December 2019, the company announced an update on the Crake project located within the 100% owned Binduli gold project. The company made a total of 43 RC holes for 3,534m of resource drilling at Crake in 2019.

A few highlights from the results are as follows:

  • 3m @ 7.41g/t Au from 81m and 10m @ 1.78g/t Au from 102m (BRC19021)
  • 5m @ 4.91g/t Au from 36m and 9m @ 1.58g/t Au from 65m (BRC19025)
  • 3m @ 3.18g/t Au from 14m and 4m @ 2.47g/t Au from 55m (BRC19031)
  • 3m @ 1.28g/t Au from 10m, 1m @ 2.91g/t Au from 17m, 1m @ 2.13g/t Au from 25m, 1m @ 5.19g/t Au from 32m and 14m @ 1.75g/t Au from 44m (BRC19012)
  • 12m @ 1.65g/t Au from 32m (BRC19010)
  • 10m @ 1.46g/t Au from 77m (BRC19029)
  • 1m @ 3.00g/t Au from 57m and 7m @ 2.78g/t Au from 97m (BRC19027)
  • Internal mine optimisation has delivered a positive result and the d independent Mineral Resource estimate complied at 1.27Mt grading 1.81g/t Au for 74,000oz at a 1g/t Au lower grade cut-off 2.
  • Initial metallurgical test results showed that for the oxide and fresh composites, gold recoveries of 98.6% and 96.5% respectively.

Results of Annual General Meeting

On 29 November 2019, the company declared the results of the Annual General Meeting. Below are the resolutions passed during the AGM:

  • Resolution 1 - Adoption of Remuneration Report
  • Resolution 2 - Re-election of Director – Peter Bilbe
  • Resolution 3 - Approval of Employee Incentive Scheme
  • Resolution 4 - Approval of Additional Placement Capacity
  • Resolution 5 - Amendment to the Company’s Constitution

September Quarterly Activities Report

On 24 October 2019, the company announced the September Quarterly Activities Reports. Key highlights from the report are as follows:

  • The company continues to progress the potential acquisition of Focus’ 2.1Moz Coolgardie Gold Project.
  • The exclusivity period with Focus has been extended by the company to enable finalisation of required approvals and formal documentation.
  • The company has reached a pact with Northern Star Resources to swap tenure in Western Australia goldfields region.
  • Cash in hand of the company stood at $4.2 million.

December Activities

  • The documentation of the formal transaction and necessary approvals for the probable purchase of the Coolgardie gold project.
  • Mining studies on all core development projects is expected to be completed by June Quarter 2020.

Stock Performance

The stock of HRZ was trading at $0.105 on ASX on 16 January 2020 (at 03:03 PM AEDT), in line with its previous close. The company has approximately 427.98 million outstanding shares and a market cap of $44.94 million. HRZ’s 52 weeks low and high value are $0.079 and $0.165 respectively. The stock has generated a negative return of 4.55 per cent in the last six months.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK