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Highlights
- Horizon Minerals reveals updated mineral resource post-merger
- Combined portfolio now includes significant nickel, gold, silver, zinc, and cobalt resources
- Expansion efforts underway with exploration and strategic growth plans
Horizon Minerals (ASX:HRZ) has announced a significant update to its mineral resource base following the completion of its merger with Poseidon Nickel. The new resource figures reflect the combined strength of the two companies, positioning Horizon as a growing mid-cap gold and nickel producer in Western Australia’s highly productive goldfields region.
The merger, initially announced in October 2024, brings new assets under Horizon’s umbrella, notably the Black Swan, Lake Johnston, and Windarra nickel projects. With these additions, Horizon’s total resource now stands at an impressive 1.8 million ounces of gold, 20.2 million ounces of silver, 104,000 tonnes of zinc, 422,000 tonnes of nickel, and 7,800 tonnes of cobalt.
The expansion is underpinned by Horizon’s key gold projects, Boorara and Burbanks, which continue to serve as cornerstone assets. The integration of Poseidon Nickel’s (ASX:POS) infrastructure, particularly the Black Swan processing plant, provides Horizon with a strategic advantage. Plans are underway to refurbish this facility and adapt it for gold processing, setting the stage for future operational efficiencies.
Nickel, a critical element of the merged portfolio, has seen an encouraging price trajectory, rising 2.39% since the start of 2025. Currently priced at US$15,665 per tonne (approximately A$24,368), the robust demand outlook for nickel offers potential upside for Horizon’s newly acquired resources.
Horizon’s leadership remains focused on strengthening the company’s resource base further. Active drilling programs are scheduled to commence during the June 2025 quarter, aiming to expand gold resources both through organic growth and potential future mergers and acquisitions. This strategy aligns with Horizon’s vision to become a leading mid-tier producer.
Recent operational successes include the first gold pour from the Boorara and Phillips Find projects. The early-stage production efforts have already contributed around $12.85 million in revenue, further reinforcing Horizon’s momentum in the region.
With a market capitalisation of $128.4 million, Horizon Minerals continues to build a diversified portfolio capable of capitalising on commodity cycles. The company’s strategic growth initiatives, combined with its expanded resource base, place it firmly on the path of accelerated development within Australia’s resource-rich goldfields.
