Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find (“Phillips Find”) and Boorara (“Boorara”) Gold Projects.
HIGHLIGHTS
Phillips Find
- Toll processing of the second stockpile of ore from the Phillips Find JV with BML (BML Ventures Pty Ltd) completed
- 18,676 dry tonnes of ore at 1.97g/t Au and 95.5% metallurgical recovery delivered 1,132.2oz sold at an average price of $5,140/oz, generating ~$5.8M in revenue to the Phillips Find JV
- First free cashflow distribution from the project achieved, generating ~$1.5M in net cashflow directly to Horizon
- An additional 87,000t of ore will be Toll Treated at the Greenfields Mill in August 2025, including 27,000t of ore from Boorara, to complete the Toll Milling Agreement with FMR
- The remaining 70,000t of ore from Phillips Find will be processed at Focus Minerals Limited’s Three Mile Hill processing plant in September/October 2025 to complete this first phase of mining at Phillips Find
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Find out more about Horizon Minerals at: HorizonMinerals.com.au