leadf
logo-loader
viewHorizonte Minerals PLC

Horizonte Minerals' losses widen slightly ahead of Araguaia DFS

The company currently has no revenue and is preparing to kick-off work on the definitive feasibility study (DFS).

Nickel
Based in Para state, Araguaia is host to a proven and probable mineral reserve of just short of 25mln tonnes grading 1.77% nickel

Brazil-focused nickel mine developer Horizonte Minerals Plc (LON:HZM, CVE:HZM) reported a pre-tax loss of £493,978 for the third quarter of 2016.

The loss was marginally wider than the loss of £418,188 made in the same quarter of 2015. Horizonte's assets are in the development stage and are currently not producing any revenue.

The company ended the quarter with cash and cash equivalents of £1.18mln, down from £2.74mln a year earlier, but since the end of the reporting period has raised £9mln to fund a definitive feasibility study on its Araguaia nickel project via a well-supported placing of shares in the City of London.

Watch Horizonte Minerals boss Jeremy Martin spells out the major opportunity in nickel market

Quick facts: Horizonte Minerals PLC

Price: 6.85 GBX

AIM:HZM
Market: AIM
Market Cap: £99.28 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Horizonte Minerals PLC named herein, including the promotion by the Company of Horizonte Minerals PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: FTSE gains despite UK recession gloom

Headlines from the Proactive UK newsroom. The FTSE has opened up slightly higher despite news that Britain has slumped into recession - suffering its biggest decline on record between April and June, with the economy shrinking 20.4% compared with the first three months of the year - this...

on 12/8/20

2 min read