ASX 200 Explorer Horizon Minerals Bolsters Capital for Drilling and Gold Expansion

3 min read | May 26, 2025 03:04 PM AEST | By Team Kalkine Media

ASX 200 Explorer Horizon Minerals Bolsters Capital for Drilling and Gold Expansion — Image source: shutterstock

Two-Tranche Placement to Support Growth

The company is executing a two-tranche share placement plan, managed and bookrun by Petra Capital. The issuance will result in a substantial number of new shares, priced at a discount to the previous market closing rate. The first tranche is expected to be settled in late May, while the second tranche will proceed following shareholder approval, anticipated to conclude in July.

This placement is set to provide Horizon with a stronger financial foundation to support ongoing and upcoming operational activities. The proceeds will be directed toward key exploration and refurbishment efforts.

Expanding Exploration Across Key Projects

Funds raised through the placement will be used to commence a resource extension and infill drilling program at the Burbanks project. Drilling is scheduled to begin in June, supporting Horizon’s exploration strategy focused on high-priority targets within its Western Australian holdings.

In addition to Burbanks, Horizon will continue exploration drilling at Crake and Coote. The company is also planning to drill at multiple greenfields and brownfields locations including Wilsons, Kestrel, Phillips Find, Greater Boorara, and Nimbus. These projects form part of Horizon’s broader regional strategy to expand its gold footprint.

Black Swan Refurbishment Advancing

Another key use of capital will be the refurbishment of the Black Swan processing plant. GR Engineering Services (ASX:GNG) has been engaged to carry out the refurbishment works aimed at advancing gold production capacity at the site. This initiative is aligned with Horizon’s long-term development goals and is intended to support increased throughput once processing of existing stockpiles begins.

The refurbishment of Black Swan, coupled with intensified drilling efforts, positions the company to further develop its operational capabilities while maintaining a forward-focused development strategy.

Market Capitalisation and Strategic Focus

With a growing asset base and enhanced capital backing, Horizon Minerals maintains a focus on its Western Australia gold operations. The company’s projects are located in mineral-rich regions, and the additional capital is expected to support exploration and development activities across multiple sites.

Horizon Minerals remains dedicated to progressing its mining and exploration operations within the ASX 200 resources sector, underpinned by a capital strategy tailored to support ongoing project development.

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