Horizonte Minerals Company Profile

Horizonte Minerals

HORIZONTE MINERALS IS A FOCUSED NICKEL DEVELOPMENT COMPANY POSITIONED FOR GROWTH. OUR PEOPLE AND OUR STAKEHOLDERS ARE AT THE HEART OF OUR BUSINESS.
Company Exposure

Nickel/Cobalt

Company Listing

Horizonte Minerals

Stock Code

AIM:HZM / TSX:HZM

Company Overview



Horizonte Minerals plc is listed both on AIM and on the TSX in Canada. Through exploration and acquisition of assets from some of the world’s largest miners, the Company has been able to consolidate a major district in Brazil’s Pará state, growing its nickel resources by 425% (Measured & Indicated) in just five years. These resources are divided over two projects, namely: (1) the advanced Araguaia ferronickel project, which is expected to produce a Feasibility Study (FS) in 2018, and (2) the recently acquired Vermelho nickel – cobalt project, poised to take advantage of the exciting electric vehicle (EV) revolution currently underway in the global automotive sector.

Investment Highlights

Nickel market fundamentals aligned with Company growth strategy

 

Asset Quality

Owns 100% of two high grade and advanced nickel projects – creating large, scalable and flexible resource base with consolidation of a nickel district

 

Near Term Producer

FS due mid 2018. Roadmap to production with Araguaia scheduled to commence in 2021

 

Vale S.A. Expenditure at Vermelho

Vermelho acquired from Vale S.A. for US&8m after US$200m of estimated previous expenditure on the asset

 

Contained Resources

Total (M&I) of 2.59Mt contained Ni (5,700Mlbs @ US$5/Ib) and 114Kt Co (252Mlbs @ US$30/Ib)

 

Cash flow

Over the LOM, Araguaia is estimated to generate US$1.3bn of free cash (PFS economics)

 

Current Market Cap

~$94m, values Araguaia <US$0.02/lb. Ni in the ground

 

Nickel Market

Demand outstripping supply: Growing nickel deficits with 2018 predicted as third consecutive year of deficit – over 150,000 tonnes nickel

Live Financials

Price: p4.53
Shares Outstanding: 1.17B
Market Capital: £53.00M
Year High: p5.20
Year Low: p2.27
Latest Announcements

Share Price Performance

Team

David Hall – Chairman
Jeremy Martin – CEO and Director
Owen Bavinton – Non-Exec. Director
Alex Christopher  – Non-Exec. Director
William Fisher – Non-Exec. Director
Allan Walker – Non-Exec. Director

Major Shareholders

Teck Resources – 14.7%
Canaccord Genuity Group – 10.5%
JP Morgan – 8.2%
City Financial – 7.6%
Lombard Odier – 7.5%
Richard Griffiths – 6.7%
Glencore – 5.2%

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Projects Overview


Araguaia
  • Tier 1 nickel asset in terms of size and grade
  • Over 50,000 tonnes ferronickel containing 14,500 tonnes nickel per annum, planned production start Q1 2021

 

Vermelho
  • Recently acquired nickel-cobalt project
  • Previously Vale S.A. owned
  • (Ni/Co hydroxide & high-grade saprolite) potential for >20,000tpa nickel

ARAGUAIA – North and South

Robust economics of Araguaia highlighted by Pre Feasibility Study

Araguaia mine plan:
  • Shallow open pit mining will be used for the exploitation of nickel laterite
  • Production will come from eight open pits, 3 – 5 being open at any given time, with a targeted 0.9mt per annum of ore to a processing and smelter facility
  • A 30 year schedule is envisaged with 2 years pre-commercial production and 13 month ramp up
  • Nickel grade in the first ten years is approximately 1.9%

 

Process flowsheet
  • Widely used and proven RKEF (Rotary Kiln – Electric Furnace)
  • A successful pilot conducted in 2015 produced ferronickel from the Araguaia deposit

Vermelho

  • Construction approved by Vale S.A. for up to US$1.2B build in 2005
  • Full FS completed on the project, all engineering data acquired
  • Over 152,000m of drilling completed
  • Vale S.A. FS showed a nameplate capacity of 46,000 tpa nickel and 2,500 tpa cobalt
  • Historic Mineral Resource: M&I 245Mt grading 0.81% Ni
  • Potential for high grade saprolite resources – 18.1m grading 3.31% Ni
  • Test work shows 96% Ni recovery and 95% Co recovery
  • Located in the Carajás mining district with favourable infrastructure

“The recently acquired Vermelho nickel-cobalt project is one of the largest nickel–cobalt deposits globally and has a high-grade scalable resource that has undergone a full feasibility study and a subsequent development decision by Vale S.A.”

CEO – Jeremy Martin

Contact Details

WEBSITE: www.horizonteminerals.com

EMAIL: j.martin@horizonteminerals.com

PHONE: +44 207 763 7157

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