Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find Gold Project (“Phillips Find”).
HIGHLIGHTS
- Joint Venture (JV) Agreement executed with BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find
- All management, technical, operational and maintenance roles to be undertaken by BML with oversight by the Company
- Low financial risk JV structure with BML to fund all project costs, with net cashflow after the asset recovery and repayment of costs to be split 50/50 between Horizon and BML
- Mining Proposal submitted to the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) to develop Phillips Find lodged in early June 2024 with approval expected shortly
- The Mining Proposal is the last key approval required to develop Phillips Find