Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Company’) the nickel company focused on Brazil, announces its unaudited financial results for the three month period to 31 March 2021 and the Management Discussion and Analysis for the same period. Both of the aforementioned documents have been posted on the Company’s website www.horizonteminerals.com and are also on SEDAR at www.sedar.com.

Highlights for the Period

Successful completion of a £18 million fundraise with predominately new institutions resulting in a strengthened cash balance of £26 million.
Multiple components of the Araguaia project finance package reaching final stages.
Appointment of BMO Capital Market Limited as joint broker.
Appointment of Michael Drake as Head of Projects.
Award of power line licence to cover the full power requirement of the Araguaia project at nameplate capacity.
Continued support provided to local communities in response to the ongoing Covid-19 pandemic.
Post Period Events

Contract for the Environmental and Social Impact Assessment for the Vermelho project awarded to Ramboll.

Horizonte Minerals plc

Unaudited Amended Condensed Consolidated Interim Financial Statements for the three months ended 31 March 2021

Condensed Consolidated Statement of Comprehensive Income
3 months ended 31 March
2021 2020
Unaudited Unaudited Amended(note 2)

Notes £ £
Administrative expenses (820,802) (674,458)
Change in fair value of special warrant liability 11 (303,001) -
Gain/(loss) on foreign exchange 184,584 941,446
Loss from operations (939,219) 266,988
Net finance costs 5 (15,257) (308,510)
Loss before taxation (954,476) (41,522)
Taxation - - -
Loss for the year from continuing operations (954,476) (41,522)
Other comprehensive income Items that may be reclassified subsequently to profit or loss

Currency translation differences on translating foreign operations
(4,104,615) (6,609,872)
Other comprehensive income for the period, net of taks (4,104,615) (6,609,872)

Total comprehensive income for the period
attributable to equity holders of the Company (5,059,091) (6,651,394)
Earnings per share from continuing operations attributable to the equity holders of the Company

Basic & Diluted earnings per share (pence per share) (0.063) (0.003)

see & read more on

https://horizonteminerals.com/uk/en/press-releases/2021/q1-financial-results/