Result of AGM

RNS Number : 8399A

Horizonte Minerals PLC

26 March 2013

 



HORIZONTE MINERALS PLC

NEWS RELEASE

26 MARCH 2013

HORIZONTE MINERALS - RESULT OF ANNUAL GENERAL MEETING

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26 March 2013 - Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company')the exploration and development company focused in Brazil held its Annual General Meeting ('AGM') yesterday and all resolutions were passed.

CEO Jeremy Martin made the following statement:

"This last year has been one of substantial progress for Horizonte.  A number of milestones have been delivered at our 100%-owned Araguaia Nickel Project ('Araguaia' or 'the Project'), located south of the Carajas mining district in northern Brazil, where the Company is aiming to develop the next major nickel project in the region. The completion of the Preliminary Economic Assessment ('PEA') highlighted robust economics for two nickel processing routes and we are on track to complete an environmental baseline study ahead of the delivery of our Pre-Feasibility Study by end-2013.

"In terms of processing options for the nickel project, the preferred option is the tried and tested Rotary Kiln Electric Furnace Process ('RKEF') to produce ferronickel.  With 15 RKEF operations currently worldwide, two of which are located close to Araguaia, this process is the most suitable for the Araguaia ore type. 

"Infill drilling is also on-going at the Jacutinga, Vila Oito West, Vila Oito, Vila Oito East, Oito and Pequizeiro West targets at Araguaia with the aim of converting  the  current resources on these targets to the Indicated category.  Recent results from this 7,000m drill programme show continued high nickel grades with good vertical thickness over the main target zones.  In tandem we are in the process of awarding contracts for the Pre Feasibility Study.

"To date, we have delivered all milestones on time and on budget and the year ahead promises to be an exciting time for Horizonte.  Investors will have exposure to a well funded company with a de-risked, nickel development project in terms of, processing, resource and size as the Company moves towards delivery of the Pre Feasibility."

The above information has been reviewed and verified by Mr. David J. Hall, EuroGeol for the purposes of the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in June 2009 and Qualified Person under National Instrument 43-101.

* * 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	finnCap Ltd (Corporate Broking) finnCap Ltd (Corporate Finance)	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 exploration and development company focused in Brazil developing the 100% owned advanced Araguaia nickel project located to the south of the Carajas mineral district of northern Brazil.  The project currently has an estimated mineral resource of 39.3Mt grading 1.39% Ni (Indicated) and 60.9Mt at 1.22% Ni (Inferred) at a 0.95% nickel cut-off.

The Company has completed a Preliminary Economic Assessment at Araguaia which illustrates robust economics based on low strip ratio with good infrastructure.  It is Horizonte's intention to complete a Pre Feasibility at Araguaia to further prove the economics of the project.

In addition it has support from its major shareholder, Teck Resources.  The Company is well funded to accelerate the development of its core project.

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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