Award of Options

RNS Number : 6589G

Horizonte Minerals PLC

09 May 2014

 



NEWS RELEASE

9 May 2014

AWARD OF OPTIONS

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Horizonte Minerals Plc, (AIM:HZM, TSX:HZM) ('Horizonte' or 'the Company'), the AIM and TSX quoted exploration and development company focused in Brazil, has on the basis of the recommendation of its Remuneration Committee and in accordance with the rules of the Company's 2006 Option Scheme and Enterprise Management Incentive Scheme, awarded 14,450,000 options ('the Awarded Options') to directors and senior management The Awarded Options include the following amounts to a director of the Company:

Executive Director          - Jeremy Martin	3,000,000
Non Executive Director - Owen Bavinton	1,000,000
Non Executive Director -  William Fisher	1,000,000
Non Executive Director -  David Hall	1,000,000
Non Executive Director - Allan Walker	1,000,000

All of the Awarded Options have an exercise price of 7.25p. One third of the options are exercisable from November 8^th 2014, one third from May 8^th 2015 and one third from November 8^th 2015. The total number of options outstanding is 39,960,000 which represents 9.96% of current issued share capital of 401,139,497 ordinary shares.

The block listing for ordinary shares of 1p each for the outstanding options already exists.  These shares will be allotted and issued in due course upon the exercise of options pursuant to the Company's share option schemes. These shares will rank pari passu with the existing issued ordinary shares of the Company.

**ENDS**

For further information visit www.horizonteminerals.com or contact:

Jeremy Martin	Horizonte Minerals plc	Tel: [phone]
David Hall	Horizonte Minerals plc	Tel: [phone]
Joanna Weaving Matthew Robinson Ben Thompson	finnCap Ltd (Corporate Broking) finnCap Ltd (Corporate Finance) finnCap Ltd (Corporate Finance)	Tel: [phone] Tel: [phone] Tel: [phone]
Felicity Edwards Lottie Brocklehurst	St Brides Media & Finance Ltd (PR) St Brides Media & Finance Ltd	Tel: [phone] Tel: [phone]

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 Carajas mineral district of northern Brazil. 

The Company is developing Araguaia as the next major nickel mine in Brazil, with potential production by 2017. 

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); included in Resources is a Probable Reserve base of 21.2Mt at 1.66%Ni at a 0.95% nickel cut-off.

A Pre-Feasibility 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 project has a NPV of US$519m at a and an IRR of 20%, with a capital cost of US$582m which puts this project in the lowest quartile of the cost curve.

Horizonte is well funded and has a strong shareholder structure including Teck Resources Limited 42.5%, Henderson Global Investors 15.1%, Anglo Pacific Group 9.2%.

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.

 

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