Horizonte Minerals PLC Announces Q3 Financial Results

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Overig advies 11/11/2022 12:28
LONDON, UK / ACCESSWIRE / November 11, 2022 / Horizonte Minerals Plc ("Horizonte" or the "Company") (AIM:HZM)(TSX:HZM), the nickel company developing two Tier 1 assets in Brazil, announces it has today published its unaudited financial results for the three months to 30 September 2022 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 available on SEDAR at www.sedar.com.

Highlights for the period:

A number of key construction contracts including industrial civil works and main power line awarded for Araguaia;
Critical path items advancing in line with the schedule, including furnace shell arrival on site and furnace concrete block foundations set;
Araguaia Nickel Project approved as a Strategic Minerals Project by the Brazilian Government;
Feasibility Study Contract Awarded to Wood plc for Vermelho Nickel-Cobalt Project;
No lost time injuries recorded to date, with over 482,000 hours worked; and
Maintained a strong cash position of US$131 million at 30 September 2022, prior to any debt draw down and completion of recently announced fund raise.
Post period highlights

Closing of US$80 million fundraise for the construction of the Araguaia nickel project ("Araguaia" or the "Project");
Contracts totalling in excess of US$400 million awarded to-date at Araguaia, with all key equipment supply and technical support services for the balance of the Araguaia process flow sheet secured;
Electro-mechanical contract awarded to MIP Engenharia & Milplan Engenharia; and
Araguaia construction running in line with project execution schedule.

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