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HRZ - Horizon Minerals

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HRZ @ 11c

568M fpos
24m unlisted options ex 12c and 16c
= 592m shares diluted
= 100m shares approximately @ 66c if hypothetically consolidated 6:1

Not too bad considering they have about $17m cash and $6m investments, plus they are making a bit from campaign trial mining which has been toll treated at 1.23g/t and 95% recovery. Third campaign milling in November.
He says they have 850 sq kms around Kalgoorlie which puts them ahead of BC8 holding 756 sq kms. Got 4 rigs drilling.

Looks like some of the recent placement participants @14c could be bailing at a small capital loss rather than hang around? Common behaviour according to Tony Locantro. Support level @13c has not held with increasing negative volume.

BC8 market cap $88m
HRZ market cap $65m
Not Held, tempted

 
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Put in a bid for 50,000 of these today. I figure that this downtrend has probably been naturally corrective of the prior rally (62% retracement approx) and there's a reasonable chance it might have seen the bottom. The more so since it has thrown a positive, high volume daily candle. High volume hammer candle on the weekly. I'd rather not miss out on a taste if it does kick on.

Influencing the decision also is the bio of the M.D who has done this before. He developed the Eastern Gold Field assets of the Phoenix Gold company only to have the company acquired in 2015 during low gold prices by Evolution Gold. That has another facet of significance I think, because Evolution owns tenements to the immediate west of Kalgoorlie. Also, Evolution won Phoenix in a bidding contest against Zijiin and Zijiin has tenements to the North of Kalgoorlie. The most likely acquirer though would seem to be Northern Star which could make a snack of HRZ since the Boorara project of HRZ abuts NST'S Kalgoorlie tenements.

Will scrawl some more about the 1.1m oz resource of the Boorara project later some time; suffice now to say I believe it will have the goods to justify a standalone plant in 2022 if there's not a scramble by predators to take over HRZ and next door neighbour BC8 first. If I were a high powered chair or m.d of a new top 10 global company, NST, (I find this easy to imagine, even if you don't) I'd be fantasizing about gobbling up both HRZ and BC8 and building one rational plant to service both projects or alternatively warehousing their reserves to feed the Kanowna Belle mill later on. It would further imprint that NST is king of Kalgoorlie.

Daily
big - 2020-10-10T170204.138.gif


HRZ Tenements in pink
Screenshot_20200708-142206_Drive.jpg

Jon Price's bio and the rest too
Screenshot_20201010-204015_Drive.jpg
 
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HRZ @ 11c

568M fpos
24m unlisted options ex 12c and 16c
= 592m shares diluted
= 100m shares approximately @ 66c if hypothetically consolidated 6:1

Not too bad considering they have about $17m cash and $6m investments, plus they are making a bit from campaign trial mining which has been toll treated at 1.23g/t and 95% recovery. Third campaign milling in November.
He says they have 850 sq kms around Kalgoorlie which puts them ahead of BC8 holding 756 sq kms. Got 4 rigs drilling.

Looks like some of the recent placement participants @14c could be bailing at a small capital loss rather than hang around? Common behaviour according to Tony Locantro. Support level @13c has not held with increasing negative volume.

BC8 market cap $88m
HRZ market cap $65m
Not Held, tempted

Jon is a great guy
 
Joined
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Posts
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Put in a bid for 50,000 of these today. I figure that this downtrend has probably been naturally corrective of the prior rally (62% retracement approx) and there's a reasonable chance it might have seen the bottom. The more so since it has thrown a positive, high volume daily candle. High volume hammer candle on the weekly. I'd rather not miss out on a taste if it does kick on.

Influencing the decision also is the bio of the M.D who has done this before. He developed the Eastern Gold Field assets of the Phoenix Gold company only to have the company acquired in 2015 during low gold prices by Evolution Gold. That has another facet of significance I think, because Evolution owns tenements to the immediate west of Kalgoorlie. Also, Evolution won Phoenix in a bidding contest against Zijiin and Zijiin has tenements to the North of Kalgoorlie. The most likely acquirer though would seem to be Northern Star which could make a snack of HRZ since the Boorara project of HRZ abuts NST'S Kalgoorlie tenements.

Will scrawl some more about the 1.1m oz resource of the Boorara project later some time; suffice now to say I believe it will have the goods to justify a standalone plant in 2022 if there's not a scramble by predators to take over HRZ and next door neighbour BC8 first. If I were a high powered chair or m.d of a new top 10 global company, NST, (I find this easy to imagine, even if you don't) I'd be fantasizing about gobbling up both HRZ and BC8 and building one rational plant to service both projects or alternatively warehousing their reserves to feed the Kanowna Belle mill later on. It would further imprint that NST is king of Kalgoorlie.

Daily
View attachment 112901

HRZ Tenements in pink
View attachment 112902
Jon Price's bio and the rest too
View attachment 112903
Your caveat is very nice :) . Maybe you show how many times you saw the crashes and which ones when you showed interest :) :) . I think it is otherwise.
 
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Got my 50,000 bid @ 11.5c filled this morning.
Open to adding if the recent 10.0c low doesn't hold.

HZR stitched on another tenement today. This one doesn't sound as exciting as their three other high grade satellite deposits but there could be more to be found around and under the main pit and surrounding historical shafts and trenches. It still has a live mining lease and is only 50 kms trucking distance from the main Boorara site.

Kalpini offers potential to grow production and mine life at Boorara as part of the consolidated Feasibility Study

HIGHLIGHTS

 Binding Tenement Sale Agreement executed with private consortium NBT Metals Pty Ltd for the acquisition of the Kalpini gold project in the Western Australian goldfields for a total cash consideration of $2.75 million funded from existing cash reserves

 Agreement subject to standard conditions precedent for a transaction of this nature including Ministerial consent, any third party assignments and provision of mining information with Settlement expected in the current quarter

 Kalpini is located 50km north east of the Company’s 100% owned Boorara gold project and comprises the Gambia, Camelia and Atlas deposits covering 585 hectares on granted mining lease M27/485

 Historic JORC 2004 Mineral Resource (before depletion) currently under review by Horizon of 4.6Mt grading 1.7g/t Au for 255,600oz
 
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Just some more on Horizon Minerals following publication of their diggers and dealers preso.

Half their mineral resource is at Boorara and grades at only 0.97g/t Au, however trial mining significantly overshot this grade. The ore was easy to process and 95% of the gold was recovered.

The production plan will be to mix in higher grade ore, in excess of average 2.0g/t Au, from three satellite open pits which account for the other half of the overall resource and are only 20-45 kms away from the proposed mill site

Boorara Gold Project
Mineral Resource of 507,000oz grading 0.97g/t Au
Trial mining positive reconciliation is suggestive of grade and tonnage uplift

Teal Deposit
Located 20km north west of Boorara
• Mineral Resource of 289,000oz grading 2.1g/t Au

Rose Hill Deposit
45km from Boorara
• Mineral Resource of 95koz grading 2.5g/t Au

Binduli Deposit
20km from Boorara
• Mineral Resource of 74koz grading 1.8g/t Au

Screenshot_20201018-160601_Drive.jpg


Screenshot_20201018-162334_Drive.jpg
 

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