Australian exploration company, Horizon Minerals Limited (ASX: HRZ) announced significant strategic gold project-related endeavours in its three-months report card while it updated Mineral Resource Estimate for the Lilyvale vanadium project in North Queensland.
Mining advancing of schedule at the Boorara gold mine, expecting first gold production in July 2020 through third party milling at the adjacent Lakewood Mill. It would generate cash in the current high Australian gold price environment along with demonstrating the tonnage and grade uplift potential.
The open pit and underground potential are also confirmed through high-grade drill results from the Rose Hill gold project while resource modelling is underway.
The company subsequent to June-quarter divested Nanadie Well copper project for $1.5M in cash and shares to Cyprium Metals Ltd.
Cash on hand of $6 million and listed investments amount to $4.25 million. Meanwhile, the company is eyeing the completing of notable milestones for the September Quarter.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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