Horizon Minerals solidifies gold strategy with strong performance, project advancements

Horizon Minerals Limited (ASX:HRZ) held its annual general meeting on November 28, 2025, where all resolutions, including the adoption of the remuneration report and the re-election of directors Ashok Parekh and Robert Waugh, were carried by way of a poll. This comes as the company continues to execute its strategy of becoming an attractively priced West Australian gold developer with near-term growth, aiming for an aspirational target of ~100kozpa production.

The company is currently producing gold and generating cash flow from its Boorara and Phillips Find projects, with 15,401oz produced to date from Boorara generating ~$73.7m revenue, and 4,954oz from Phillips Find. A major focus is the pre-feasibility study for converting the Black Swan nickel processing plant to gold production, targeting first gold by early 2027. This plant boasts a capacity of up to 2.2Mtpa and an estimated replacement value of +$150m. Horizon also recently divested its non-core Lake Johnston asset for a total consideration of $35m in November 2025.

Horizon Minerals holds a 1.8Moz mineral resource estimate (29.62Mt @ 1.85g/t Au) and is undertaking a major drilling program to define and extend mineable ounces, supported by a budgeted ~50,000m of drilling in FY25/26. The company’s pipeline includes the high-grade Burbanks project, with a mineral resource upgrade planned for 2026, and the Nimbus silver-zinc deposit (20.2Moz Ag, 104kt Zn, 77koz Au), offering additional value and optionality.