Horizonte Minerals plc / Index: AIM and TSX / Epic: HZM /
Sector: Mining
LONDON, Sept. 29, 2014
/CNW/ - Horizonte Minerals Plc, (AIM: HZM, TSX: HZM)
('Horizonte' or 'the Company') announces that today, Mr.
Jeremy Martin, the Chief Executive
Officer of the Company, purchased 50,000 ordinary shares of
1 pence each in the capital of the
Company ('Ordinary Shares') at a price of 4.6 pence per Ordinary Share and 180,000 Ordinary
Shares at an average price of CAD$0.085 per Ordinary Share. Subsequent to
this transaction Mr. Martin has a beneficial interest in 1,083,908
Ordinary Shares.
About Horizonte Minerals:
Horizonte Minerals Plc is an AIM and TSX-listed nickel
development company focused in Brazil, which wholly owns the advanced
Araguaia Project located to the south of the Carajas mineral
district of northern Brazil.
The Corporation is developing the Araguaia Project as the next
major nickel mine in Brazil, with
targeted production by 2017.
The Araguaia Project, which has excellent infrastructure in
place including rail, road, water and power, has a current Mineral
Resource estimate of 71.98Mt grading 1.33% Ni (Indicated) and
25.4Mt at 1.21% Ni (Inferred), prepared in accordance with National
Instrument 43-101 ("NI 43-101"). Included in the Mineral
Resources is a Probable Mineral Reserve base of 21.2Mt at 1.66% Ni
at a 0.95% Ni cut-off.
A Prefeasibility Study has been completed which underpins the
robust economics of developing a mine with a targeted 15,000tpa
nickel in ferro-nickel output with a 20% Fe-Ni product over a 25
year mine life utilising the proven pyrometallurgical process of
Rotary Kiln Electric Furnace technology. At these production rates,
the Araguaia Project has a post‐tax NPV of US$519 million at a discount rate of 8% and an
IRR of 20%, with a capital cost of US$582
million.
Horizonte has a strong shareholder structure, including Teck
Resources Limited (42.5%), Henderson Global Investors (15.1%) and
Anglo Pacific Group (9.2%).
The scientific and technical information contained in this news
release has been reviewed and approved by David Hall, BSc, MSc, Fellow SEG PGeo, Chairman
of Horizonte, a qualified person within the meaning of NI
43-101.
For further details on the Araguaia Project, please refer to the
technical report entitled "NI 43-101 Technical Report,
Prefeasibility Study (PFS) for the Araguaia Nickel Project, Pará
State, Brazil", dated March 25, 2014, which is available on the
Corporation's website at horizonteminerals.com and on SEDAR at
www.sedar.com.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
INFORMATION
Except for statements of historical fact
relating to the Corporation, certain information contained in this
news release constitutes "forward‐looking
information" under Canadian securities legislation.
Forward‐looking information includes, but is not
limited to, statements with respect to the standards under which
the Corporation will prepare its financial statements in the
future; the potential of the Corporation's current or future
property mineral projects; the success of exploration and mining
activities; cost and timing of future exploration, production and
development; the estimation of mineral resources and reserves and
the ability of the Corporation to achieve its goals in respect of
growing its mineral resources; and the realization of mineral
resource and reserve estimates. Generally,
forward‐looking information can be identified by the
use of forward‐looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward‐looking information is based on
the reasonable assumptions, estimates, analysis and opinions of
management made in light of its experience and its perception of
trends, current conditions and expected developments, as well as
other factors that management of the Corporation believes to be
relevant and reasonable in the circumstances at the date that such
statements are made, and are inherently subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Corporation to be materially different from those expressed or
implied by such forward‐looking information,
including but not limited to risks related to: exploration and
mining risks; competition from competitors with greater capital;
the Corporation's lack of experience with respect to
development‐stage mining operations; fluctuations in
metal prices; uninsured risks; environmental and other regulatory
requirements; exploration, mining and other licences; the
Corporation's future payment obligations; potential disputes with
respect to the Corporation's title to, and the area of, its mining
concessions; the Corporation's dependence on its ability to obtain
sufficient financing in the future; the Corporation's dependence on
its relationships with third parties; the Corporation's joint
ventures; the potential of currency fluctuations and political or
economic instability in countries in which the Corporation
operates; currency exchange fluctuations; the Corporation's ability
to manage its growth effectively; the trading market for the
ordinary shares of the Corporation; uncertainty with respect to the
Corporation's plans to continue to develop its operations and new
projects; the Corporation's dependence on key personnel; possible
conflicts of interest of directors and officers of the Corporation,
and various risks associated with the legal and regulatory
framework within which the Corporation operates.
Although management of the Corporation has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward‐looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
information. The Corporation does not undertake to update any
forward-looking information contained in this news release, except
in accordance with applicable securities laws.
SOURCE Horizonte Minerals plc