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Horizon Minerals (ASX:HRZ) has been transporting its first ore to the mill as it ramps up to becoming a gold producer in Western Australia.
The ore is from the Phillips Find project, 45 kilometres northwest of Coolgardie. More than 800,000 Bank Cubic Metres have been mined from the Newminster and Newhaven open pits there.
The ore is being hauled by road train to the Greenfields mill, with the processing of the first 40,000-tonne ore to begin next week; it will take about a fortnight.
Horizon MD and CEO Grant Haywood said he was pleased with the progress.
“We are very pleased to be transporting our first ore from Phillips Find for treatment at the Greenfields mill,” Mr Haywood said.
“This marks another significant milestone in our journey to become a significant gold producer and demonstrates the team’s commitment to executing our strategy on schedule.
“We are now fully manned up and the team has been making good progress. We look forward to the next phase as we advance towards first gold production from Phillips Find and continue generating value for our shareholders in this high gold price environment.”
Horizon has a joint venture with mining specialists BML Ventures Pty Ltd to develop and mine the open pits. BML will cover management, technical, operational and maintenance, under the oversight of Horizon Minerals.
BML will fund the costs, with net cash flow generated beyond that split 50/50.
HZR shares will open at around 5.6cps on Wednesday morning.
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