Jeremy Martin, Director and CEO of Horizonte Minerals

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PROPOSED PLACING OF ORDINARY SHARES TO RAISE £9.0 MILLION TO FUND DEFINITIVE FEASIBILITY STUDY AT ARAGUAIA NICKEL PROJECT

In this interview, Share Talk spoke with Jeremy Martin, the Director and CEO of AIM-listed Horizonte Minerals (HZM). They have today announced a proposed placing of ordinary shares to raise £9 Million to fund the definitive feasibility study at their 100%-owned Araguaia Nickel Project in Brazil, which now includes the adjacent Glencore asset purchased in Q3. The combined Tier 1 Araguaia project is now being developed as one of the largest and highest grade nickel saprolite resources globally.

Jeremy goes into detail as to what this means with regards to the significant nature of the placing being at 2p.

PROPOSED PLACING OF ORDINARY SHARES TO RAISE £9.0 MILLION TO FUND DEFINITIVE FEASIBILITY STUDY AT ARAGUAIA NICKEL PROJECT

This is only a slight discount to its open market price and Jeremy explains that this is being backed by HZM’s cornerstone institutional investors, which include Teck Resources and Henderson. He also stated that once the placing is complete, shareholders would also see two new names of significance on the HZM roster.

Jeremy outlined the work programme for the definitive study and gave timeframes for the milestones ahead. The strength of the team they have put in place, the mining life and that the Araguaia Project is viable in the current pricing environment of $US10,500. However, with the company using a long-term average projected price for Nickel of $US12,000 per tonne, whereby HZM could derive a free cash flow of $1.26bn.

Jeremy adds that this project will be coming on stream when Nickel inventory demand is rising and supply is reducing. This leads to an emerging deficit of Nickel when demand for Nickel usage in all things stainless steel, railway lines, electric vehicles and power lines is growing across the board.

Listen now to gain further insight into Jeremy’s roadmap for Horizonte Minerals.

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