HRZ - Horizon Minerals

[finicky]

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

 

[finicky]

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

HRZ Tenements in pink

Jon Price's bio and the rest too

 

[Miner]

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

 

[Miner]

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.

 

[noirua]

The Fund reduced exposure to West African resources early in the month with proceeds reinvested in to Sabina Gold, which has lagged the performance of the wider gold sector. In addition, the Fund participated in a placing by Australian gold developer Horizon Minerals.
Company Factsheet August 2020: Https://ncim.co.uk/wp/wp-content/uploads/2020/09/CQS-New-City-GPPM-August-2020.pdf

 

[finicky]

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

 

[finicky]

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

 

[finicky]

Placed a bid for another 50,000 @ 10c during the w/e.

Don't really expect to get it filled but maybe the big individual seller over October has a few million more to dump? That's Michael Ruane ex Intermin Resources director, now m.d of Reward Minerals I believe. Horizon Minerals was formed out of a merger of Intermin and MacPhersons Resources, hence how Ruane ended up with 10% (52 million shares) of HRZ. Now his holding down below substantial (<5%), maybe none.

Said this from higher when I bought at 11.5c but now I think the weekly chart is prospective for a low being formed. I'll go with a weekly 'tweezer bottom' off 10c and this downtrend being a correction of the preceding rally, amplified by a big individual seller.

The interview with HRZ m.d Jon Price is very recent and bears on improved tonnage and grade prospects at the Binduli prospect.

2 Year Weekly

 

[finicky]

Got a sitting bid for more of these hit today - 50,000 more @ 10c
The m.d responded with disciplined politeness to my email today - that was nice. I told him I held 50,000 shares and he should build a plant as a j.v with BC8 instead of on his own.

 

[Miner]

Got a sitting bid for more of these hit today - 50,000 more @ 10c
The m.d responded with disciplined politeness to my email today - that was nice. I told him I held 50,000 shares and he should build a plant as a j.v with BC8 instead of on his own.

@finicky - I do not hold Horizon yet. Regarding MD - Jon Price has been a real gentleman and easy to deal with. He also passed through several stages of career starting as a mill second hand back in 1993. But he developed and took challenges to rise . So even today he is a reasonable size entrepreneur over last 10 years or so, Jon is still a humble person.

 

[finicky]

@Miner yeah he seems nice, must be a trojan for hard work with these deals going on. I quite like the ceo of KWR as well, seems trustworthy and not up himself. You would probably know Jon Price is also on the board of KWR.

 

[Miner]

@Miner yeah he seems nice, must be a trojan for hard work with these deals going on. I quite like the ceo of KWR as well, seems trustworthy and not up himself. You would probably know Jon Price is also on the board of KWR.

@finicky thanks. No I was unaware of other board director ships of JP or KWR. Just looked into it . What a grade! Need to study more. I will be very biased with Jon. Pardon me folks, if I am seen as if ramping for Jon and his companies - the fact I am not and yet to hold either HRZ or KWR
Good luck.

 

[finicky]

Today - not bad, making some cash while doing drilling studies to understand the ore body and possibly extend and deepen the conceptual pit. Note the gold recovery at 95%. There's another lucrative campaign coming up in January.

Horizon Minerals (ASX:HRZ) has generated $3.6m in net cash flow from the third toll milling campaign of Boorara ore at the Lakewood gold processing facility near Kalgoorlie, Western Australia.
50,274 tonnes of ore grading 1.62 grams per tonne (g/t) gold from the Crown Jewel, Regal East and Regal West trial pits was processed at the mill to produce 2,491 ounces of the precious metal.
Gold recovery was calculated at 95 per cent, well above the modelled recovery of 91 per cent.
The final milling campaign is scheduled to begin in mid-January, comprising the remaining high-grade ore and a parcel of low-grade material to test grade allocation.

Managing director Jon Price says the trial mining has greatly improved the company’s understanding of the Boorara ore body and identified the potential to grow the deposit along strike to the south and north along with depth potential below the 180m open pit limit that is currently being evaluated.

Horizon rakes in $3.6m from gold mining at Boorara - Stockhead

Horizon Minerals has collected net cash flow of $3.6m from the third toll treatment campaign of gold ore from its Boorara project.

stockhead.com.au

 

[finicky]

Got bored and added another 50,000 HRZ @ 10c today
While the weekly chart looks quite risky, with nothing to justify a buy, the daily chart (below) looks a hope: some unusual candles being thrown and 10c is roughly a 62% retracement of the rally from the the March low to the August high, haha. Theres also some decent support of 10c going back in the chart and not shown here.
Cashed up explorer ($20m cash and investments), making a bit of money campaign mining, with over 1 million ozs of gold resource and engaged in a 70,000 metres drilling campaign close to Kalgoorlie.
A point of interest not mentioned before is that HRZ is a 13% holder in Kingwest Resources (KWR)

Daily

 

[finicky]

I get the feeling that HRZ might be close to the turn here if the gold price chimes in. Have a look at the recent 5 day spate of gravestone dojis. Something strange going on. The daily indicators are showing mild positive divergence to price. The depth has grown buying support @ 0.10 and now has some bids @ .105
I put in a bid for 50,000 more @ .10 but don't expect it to be filled if the gold price holds up.

I don't think I mentioned that HRZ owns a couple of extraneous hard assets:

• A passive jv with Richmond Vanadium Technology (RVT earning 50%)
• Owns 100% of the Nimbus silver project within its Kalgoorlie tenements.

Not forgetting around $20m cash, already campaign mining at Boorara and 13% of Kingwest Resources.

$57m market cap, not bad for a +1 million oz resource next to Kal

 

[Trav.]

Owns 100% of the Nimbus silver project within its Kalgoorlie tenements.

A little bit of track but I was actually at Nimbus when they first commissioned it, I was marking up drawings back in the hotel in Boulder and wiring the panels the next day. Not much engineering and QC went on then.

My first time building a plant from second hand crusher / mill / tanks etc, let alone never having worked before on a silver mine before

This is similar to what we had back then (of course second hand) for the silver recovery

Merrill Crowe Plants

We manufacture Merrill-Crowe Plants for the recovery of gold and silver from cyanide solutions. A Merrill Crowe process lets you easily precipitate gold & silver previously dissolved by cyanide using zinc dust. Two primary Merrill-Crowe Plant sizes are manufactured, a 10 gallon per minute plant...

www.911metallurgist.com

Current view from google maps but it hasn't changed to much.

 

[finicky]

Pop above 4 month resistance today on improved volume. They just put a presentation out but nothing new in it, so could be a mild case of the Reddit effect - as mentioned above they do have the moth-balled Nimbus silver project.

Daily

 

[finicky]

Bid in for more HRZ @ 0.105

Feb 16 Proactive Investor webinair with HRZ's Jon Price presenting at 43m mark
Anticipating an exciting 50,000 drilling campaign over cal 2021 with more discovery drilling in the mix alongside the resource conversion. Mentions drilliing right up to Kanowna Belle mine (NST) and a few kms east of the Super Pit (NST) - is there a message there? I'm half expecting NST to take us out. Says 70% of their drill samples for the 20,000 metre campaign done before Xmas are still at the lab so strong newsflow expected. Expects enough resource upgrade to allow a development decision in the Sept Quarter leading to production in latter half of cal 2022.

 

[finicky]

More .. bought more HRZ, 50,000 more @ 0.10

I just reckon there could be an artificial supply of these shares, the source being the 115 million shares placement back in August 2020. Those shares were placed @ 0.14 and maybe the placees just aren't hanging around. Also don't know whether that ex director, M Ruane, has finished off-loading yet.



6 months Daily

 

[Miner]

I visited HRZ website and did not notice earlier that Ashok Parket, the past (?) owner of few famous hotels and chartered accountant firm in Kalgoorlie also promoter of McPherson(MCP if I am not wrong) is the chairman of HRZ.
Could Jon and Ashok being old Kal mates, are joining hands-on MCP and HRZ in the middle term?