LONDON, April 21, 2016 /CNW/ - Horizonte Minerals Plc,
(AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the nickel
development company focused in Brazil, held its Annual General Meeting
('AGM') today and all resolutions were passed.
At the AGM CEO Jeremy Martin
made the following statement, "The past few months have been
transformational for Horizonte. The downturn in the mining
sector, although frustrating in terms of metal prices, enabled us
to make a game-changing and low cost acquisition of Glencore's
Araguaia Project (GAP) which is adjacent to our 100% owned Araguaia
Nickel Project in Brazil. The combination of these two
projects creates a Tier 1 nickel saprolite project in terms of size
and grade globally.
"Prior to our acquisition of GAP and throughout 2015 we
undertook a significant amount of work on the ground including the
completion of an infill resource drilling programme. The
collection of a 240 tonne bulk sample of representative ore which
was treated in a full scale metallurgical pilot plant campaign
confirming that Araguaia can produce high grade commercial
ferronickel by the proven Rotary Kiln Electric Furnace (RKEF)
process. All of this technical data is currently being
combined into a new Pre-Feasibility Study (PFS) to include the GAP
project. This work will show the updated resources, capex and
project economics which we are anticipating will demonstrate that
the enlarged Araguaia project has the potential to be one of the
lower cost projects in the market. Another significant
upcoming milestone which we expect to run in parallel with the new
PFS is the award of the Environmental Preliminary Licence (LP) for
Araguaia which is a major de-risking step and the most important
hurdle towards the grant of our full mining licence.
"Analysts from a number of top banks including Morgan Stanley,
Credit Suisse and Salman Partners have highlighted nickel as a good
performer in 2016 into 2017 and we believe we are well aligned with
Araguaia's development timeline to benefit from this
position.
"The Company has a strong group of cornerstone shareholders led
by Teck and a Tier 1 nickel project in terms of size and grade.
These factors combined with favourable nickel market
fundamentals over the next three years provide a highly compelling
backdrop for Horizonte and we are proud to provide our investors
exposure to one of the world's next major nickel projects."
In accordance with section 11.3 of Canadian National Instrument
51-102, the results of the voting at the meeting were as
follows:
|
Item Voted
Upon
|
Voting
Result
|
|
Ordinary
Resolutions
|
|
|
1. To receive and
adopt the Directors' Report and
Accounts for the year ended 31 December 2015,
together with the Auditors Report thereon as per
the Corporation's Management Information
Circular dated 15th March 2016
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 31
Votes against
(including proxies): 1
Proxies received for:
461,927,204 (97%)
Proxies received
against: 13,232,900 (3%)
|
|
2. to re-elect David
Hall as a director of the
Company for the period between the date of this
meeting and the date of the next Annual General
Meeting
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 28
Votes against
(including proxies): 4
Proxies received for:
454,012,264 (96%)
Proxies received
against: 21,194,840 (4%)
|
|
3. To re-elect Mr
Jeremy Martin as a director of
the Company for the period between the date of
this meeting and the date of the next Annual
General Meeting
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 30
Votes against
(including proxies): 1
Proxies received for:
475,201,104 (99%)
Proxies received
against: 6,000,000 (1%)
|
|
4. To re-elect Mr
Owen Bavinton as a director of
the Company for the period between the date of
this meeting and the date of the next Annual
General Meeting
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 28
Votes against
(including proxies): 4
Proxies received for:
454,012,264 (96%)
Proxies received
against: 21,194,840 (4%)
|
|
5. To re-elect Mr
William Fisher as a director of
the Company for the period between the date of
this meeting and the date of the next Annual
General Meeting
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 28
Votes against
(including proxies): 4
Proxies received for:
454,012,264 (96%)
Proxies received
against: 21,194,840 (4%)
|
|
6. To re-elect Mr
Allan Walker as a director of
the Company for the period between the date
of this meeting and the date of the next Annual
General Meeting
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 28
Votes against
(including proxies): 4
Proxies received for:
454,012,264 (96%)
Proxies received
against: 21,194,840 (4%)
|
|
7. To re-elect Mr
Alexander Christopher as a
director of the Company for the period between
the date of this meeting and the date of the next
Annual General Meeting
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 29
Votes against
(including proxies): 2
Proxies received for:
475,106,104 (99%)
Proxies received
against: 6,095,000 (1%)
|
|
8. To appoint PKF
Littlejohn LLP as auditors of
the Company for the ensuing year and to
authorise the Directors to fix their remuneration
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 30
Votes against
(including proxies): 1
Proxies received for:
475,201,104 (99%)
Proxies received
against: 6,000,000 (1%)
|
|
9. To authorise the
Directors to allot relevant
securities
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 30
Votes against
(including proxies): 3
Proxies received for:
467,340,164 (98%)
Proxies received
against: 7,866,940 (2%)
|
|
10. To amend Clause
4.1 to delete Clause 5.1
of the rules of the 2006 Option Scheme
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 28
Votes against
(including proxies): 3
Proxies received for:
475,103,604 (99%)
Proxies received
against: 6,097,500 (1%)
|
|
Special
Resolutions
|
|
|
11. To authorise the
Directors to allot relevant
securities dissapplying pre-emption rights
|
The resolution was
approved by shareholders on a
show of hands.
Votes for (including
proxies): 27
Votes against
(including proxies): 5
Proxies received for:
454,010,178 (96%)
Proxies received
against: 21,196,926 (4%)
|
**ENDS**
About Horizonte Minerals:
Horizonte Minerals plc is an
AIM and TSX-listed nickel development company focused in
Brazil, which wholly owns the
advanced Araguaia nickel laterite project located to the south of
the Carajàs mineral district of northern Brazil.
The Company is developing Araguaia as the next major nickel mine
in Brazil.
The Project, which has excellent infrastructure in place
including rail, road, water and power, has a current NI 43-101
compliant Mineral Resource of 71.98Mt grading 1.33% Ni (Indicated)
and 25.4Mt at 1.21% Ni (Inferred) at a 0.95% nickel cut-off;
included in Resources is a Probable Reserve base of 21.2Mt at
1.66%Ni.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
INFORMATION
Except for statements of historical fact
relating to the Company, certain information contained in this
press release constitutes "forward-looking information" under
Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the
potential of the Company'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
Company 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 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 Company 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 Company'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 Company's future
payment obligations; potential disputes with respect to the
Company's title to, and the area of, its mining concessions; the
Company's dependence on its ability to obtain sufficient financing
in the future; the Company's dependence on its relationships with
third parties; the Company's joint ventures; the potential of
currency fluctuations and political or economic instability in
countries in which the Company operates; currency exchange
fluctuations; the Company's ability to manage its growth
effectively; the trading market for the ordinary shares of the
Company; uncertainty with respect to the Company's plans to
continue to develop its operations and new projects; the Company's
dependence on key personnel; possible conflicts of interest of
directors and officers of the Company, and various risks associated
with the legal and regulatory framework within which the Company
operates.
Although management of the Company 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.
SOURCE Horizonte Minerals plc