AIM Block Listing Six Monthly Return

RNS Number : 5196D

Horizonte Minerals PLC

31 March 2014

 



Horizonte Minerals plc / Index: AIM and TSX / Epic: HZM / Sector: Mining

NEWS RELEASE

31 March 2014

Horizonte Minerals AIM Block Listing Six Monthly Return

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SCHEDULE 6

AIM BLOCK ADMISSION SIX MONTHLY RETURN

a. Name of company

Horizonte Minerals plc

b. Name of scheme(s)

The Enterprise Management Incentive Scheme

The 2006 Scheme

c. Period of return:

From 30 September 2013 to 28 March 2014

d. Number and class of securities not issued under scheme

25,860,000 Ordinary Shares of 1 pence

e. Number of shares issued under scheme during period

Enterprise Management Incentive Scheme: nil

2006 Scheme: nil

f. Balance under scheme not yet issued / allotted at the end of this period

25,860,000 Ordinary Shares of 1 pence

870,000 options were cancelled during the period

g. Number and class of share(s) (amount of stock / debt securities) originally listed and the date of admission;

27,380,000 Ordinary Shares of 1 pence, block listed on 28 September 2011

Please confirm your total issued share capital as at the end of this period.

(If you hold any shares in Treasury state the figure separately);

401,139,497 Ordinary shares and Nil Treasury shares

h. Contact name and telephone number for queries;

Name

Jeffrey Karoly

Position

CFO Horizonte Minerals plc

Telephone

0207 763 7157

Date

31 March 2014

* * 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 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); and 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.

 

END

 

 

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