Horizon Minerals Limited (ASX:HRZ) Annual Report 2023

Horizon Minerals Limited continued to advance and build up its core gold project portfolio in Western Australia through extensional and new discovery drilling for gold, and to leverage off its substantial landholding into other commodities, including NiCo, Ag-Zn, Cu and PGE’s.

In addition, the Company along with joint venture partners Richmond Vanadium Technology successfully transitioned the JV to a publicly listed company through a successful IPO and listed RVT on the ASX in December 2022, with Horizon shareholders receiving shares in RVT via an in-specie distribution, and Horizon maintaining a 9% shareholding in RVT.

The Company also acquired the remaining 50% interest in the Penny’s Find gold project from JV partner Labyrinth Resources Limited and now owns the project 100%. The Company also divested its Kangaroo Hills and Phoenix tenements to Greenstone Resources Limited for $300,000 in cash and shares.

Horizon also advanced its Cannon project by securing a US$5m loan from Nebari Partners to pay the deferred consideration for the project and to fund its development, with all necessary statutory approvals also secured for the project.