leadf
logo-loader
viewHorizonte Minerals PLC

Madalena Energy, Andes Energia and Horizonte Minerals next week

Next Thursday we would be delighted if you could join us in Mayfair for an update from three exciting resource stocks. 

Andes Energia (LON:AEN), Madalena Energy (LON:MVN) and Horizonte Minerals (LON:HZM, TSE:HZM) are joining us for a fascinating update into their latest developments.

speech_350_54fa2f523939d.jpg

Next Thursday we would be delighted if you could join us in Mayfair for an update from three exciting resource stocks. 

Andes Energia (LON:AEN), Madalena Energy (LON:MVN) and Horizonte Minerals (LON:HZM, TSE:HZM) are joining us for a fascinating update into their latest developments.

To ensure you don't miss out on the event on March 12, secure your place HERE.

An acquisition in Colombia, development work in Argentina’s Vaca Muerta shale play and upgrades on other assets have increased Andes Energia’s daily oil production to 3,300 barrels. 

Proven and probable reserves have also grown to an impressive 26mln barrels oil equivalent (boe) across a diverse portfolio of 120 wells in eight fields. 

At 1,800 barrels oil equivalent, Andes is now pumping more oil in Colombia than from its traditional Argentine base. It gets higher prices in Argentina, though, where crude recently has been selling at US$77 per barrel compared to US$47 in Colombia. It expects to get premium prices in Argentina for the foreseeable future due to the country’s regulated environment. 

A restructuring is currently underway in Colombia following the recent acquisition of a 51% stake in InterOil, with the synergy benefits also still to come through. Joining us to explain the story is president and CEO Alejandro Joytan.

Madalena Energy, meanwhile, aims to cash in on Argentina’s growing status as a shale oil address. 

Financier George Soros has joined several oil majors in backing projects in the country, while the company just revealed a 155% increase in proved plus probable reserves.

These 2P reserves are worth $199mln, but Madalena has 14 concessions across Argentina stretching over one million net acres of land in an area dominated by industry majors such as YPF, Chevron, Total and Exxon.

The latest reserve estimate also barely included any credit for its high impact, unconventional assets, which include the Lower Agrio shale or Mulichinco, and incorporated just 105 Mboe of Vaca Muerta reserves. 

Kevin Shaw, CEO, will join us to discuss.

Horizonte Minerals, which is developing Brazil's next major nickel mine, has targeted production by late 2017 early 2018 and the signs are looking good that this will coincide with an uplift in the metal price. 

Araguaia benefits from infrastructure in place including rail, water and power and has a current NI 43- 101 resource of 71.98million tonnes grading 1.33% of indicated nickel. A pre-feasibility study showed robust economics, with the project having a post-tax NPV of US$519mln and an IRR of 20%, with a capital cost of US$582mln, putting the project in the lowest quartile of the cost curve. Here to tell us more about the next steps for this exciting asset will be CEO Jeremy Martin.

The evening will end at 7pm with a complimentary bar and an assortment of hot & cold canapes, giving you the opportunity to speak with the directors and other investors.

Please join us at 5:45pm to allow for a prompt 6pm start. Each company has 20 minutes to give a short presentation and then 10 minutes Q&A. 

This will be followed by the 'Champagne Raffle' where four guests will win a bottle each. The event will be rounded off with a drinks reception with canapés.

Quick facts: Horizonte Minerals PLC

Price: 6.75 GBX

AIM:HZM
Market: AIM
Market Cap: £97.83 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

3 min read