Horizon Minerals (ASX:HRZ) has announced its independent ore reserve for Boorara, flagging 49.5Koz of gold production over a 14mth LOM.
The company expects the project to fetch just short of $20M.
All permits are in place, haulage contracts are “well advanced” and an ore sales agreement – binding – has been inked, the company highlighted on Friday.
The current September quarter will likely see a development decision.
Our contract negotiations are well advanced and are the final key milestone outstanding in relation to bringing this asset into production,” Horizon CEAO Grant Haywood said.
“Horizon has strong optionality within its large resource book of projects, which we aim to develop in conjunction, and following, development of Boorara to be a sustainable gold producer and generate more cash in this strong gold price environmental for the foreseeable future.”
HRZ last traded at 3.6cps.