Result of AGM

RNS Number : 9761V

Horizonte Minerals PLC

21 April 2016

 

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

NEWS RELEASE

21 April 2016              

HORIZONTE MINERALS - RESULT OF ANNUAL GENERAL MEETING

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21 April 2016 - Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the nickel development company focused in Brazil, held its Annual General Meeting ('AGM') today and all resolutions were passed.

At the AGM CEO Jeremy Martin made the following statement, "The past few months have been transformational for Horizonte.  The downturn in the mining sector, although frustrating in terms of metal prices, enabled us to make a game-changing and low cost acquisition of Glencore's Araguaia Project (GAP) which is adjacent to our 100% owned Araguaia Nickel Project in Brazil.  The combination of these two projects creates a Tier 1 nickel saprolite project in terms of size and grade globally.

"Prior to our acquisition of GAP and throughout 2015 we undertook a significant amount of work on the ground including the completion of an infill resource drilling programme.  The collection of a 240 tonne bulk sample of representative ore which was treated in a full scale metallurgical pilot plant campaign confirming that Araguaia can produce high grade commercial ferronickel by the proven Rotary Kiln Electric Furnace (RKEF) process.  All of this technical data is currently being combined into a new Pre-Feasibility Study (PFS) to include the GAP project.  This work will show the updated resources, capex and project economics which we are anticipating will demonstrate that the enlarged Araguaia project has the potential to be one of the lower cost projects in the market.  Another significant upcoming milestone which we expect to run in parallel with the new PFS is the award of the Environmental Preliminary Licence (LP) for Araguaia which is a major de-risking step and the most important hurdle towards the grant of our full mining licence.

"Analysts from a number of top banks including Morgan Stanley, Credit Suisse and Salman Partners have highlighted nickel as a good performer in 2016 into 2017 and we believe we are well aligned with Araguaia's development timeline to benefit from this position. 

"The Company has a strong group of cornerstone shareholders led by Teck and a Tier 1 nickel project in terms of size and grade.  These factors combined with favourable nickel market fundamentals over the next three years provide a highly compelling backdrop for Horizonte and we are proud to provide our investors exposure to one of the world's next major nickel projects."

In accordance with section 11.3 of Canadian National Instrument 51-102, the results of the voting at the meeting were as follows:

Item Voted Upon	Voting Result
Ordinary Resolutions
1. To receive and adopt the Directors' Report and Accounts for the year ended 31 December 2015, together with the Auditors Report thereon as per the Corporation's Management Information Circular dated 15th March 2016	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 31 Votes against (including proxies): 1 Proxies received for: 461,927,204 (97%) Proxies received against: 13,232,900 (3%)
2. To re-elect David Hall as a director of the Company for the period between the date of this meeting and the date of the next Annual General Meeting	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 28 Votes against (including proxies): 4 Proxies received for: 454,012,264 (96%) Proxies received against: 21,194,840 (4%)
3. To re-elect Mr Jeremy Martin as a director of the Company for the period between the date of this meeting and the date of the next Annual General Meeting	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 30 Votes against (including proxies): 1 Proxies received for: 475,201,104 (99%) Proxies received against: 6,000,000 (1%)
4. To re-elect Mr Owen Bavinton as a director of the Company for the period between the date of this meeting and the date of the next Annual General Meeting	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 28 Votes against (including proxies): 4 Proxies received for: 454,012,264 (96%) Proxies received against: 21,194,840 (4%)
5. To re-elect Mr William Fisher as a director of the Company for the period between the date of this meeting and the date of the next Annual General Meeting	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 28 Votes against (including proxies): 4 Proxies received for: 454,012,264 (96%) Proxies received against: 21,194,840 (4%)
6. To re-elect Mr Allan Walker as a director of the Company for the period between the date of this meeting and the date of the next Annual General Meeting	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 28 Votes against (including proxies): 4 Proxies received for: 454,012,264 (96%) Proxies received against: 21,194,840 (4%)
7. To re-elect Mr Alexander Christopher as a director of the Company for the period between the date of this meeting and the date of the next Annual General Meeting	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 29 Votes against (including proxies): 2 Proxies received for: 475,106,104 (99%) Proxies received against: 6,095,000 (1%)
8. To appoint PKF Littlejohn LLP as auditors of the Company for the ensuing year and to authorise the Directors to fix their remuneration	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 30 Votes against (including proxies): 1 Proxies received for: 475,201,104 (99%) Proxies received against: 6,000,000 (1%)
9. To authorise the Directors to allot relevant securities	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 30 Votes against (including proxies): 3 Proxies received for: 467,340,164 (98%) Proxies received against: 7,866,940 (2%)
10. To amend Clause 4.1 to delete Clause 5.1 of the rules of the 2006 Option Scheme	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 28 Votes against (including proxies): 3 Proxies received for: 475,103,604 (99%) Proxies received against: 6,097,500 (1%)
Special Resolutions
11. To authorise the Directors to allot relevant securities dissapplying pre-emption rights	The resolution was approved by shareholders on a show of hands. Votes for (including proxies): 27 Votes against (including proxies): 5 Proxies received for: 454,010,178 (96%) Proxies received against: 21,196,926 (4%)

**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 Scott Christopher Raggett James Thompson	finnCap Ltd (Corporate Broking) finnCap Ltd (Corporate Finance) finnCap Ltd (Corporate Finance)	Tel: [phone] Tel: [phone] Tel: [phone]
Lottie Brocklehurst Elisabeth Cowell	St Brides Partners Ltd (PR) St Brides Partners Ltd (PR)	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 Carajàs mineral district of northern Brazil. 

The Company is developing Araguaia as the next major nickel mine in Brazil.

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

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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