Horizon Minerals Reports Strong Progress Across Gold Development Projects

Horizon Minerals Limited (ASX: HRZ) continues to build momentum across the Phillips Find and Boorara gold developments, highlighting consistent project execution and improving near-term revenue visibility. At Phillips Find, the company has now run three processing campaigns, treating 98,945 tonnes of ore at an average grade of 1.65g/t to produce 4,954 ounces of gold. The initial mining stage is approaching completion, with output exceeding the original mine plan. In response, Horizon has secured a binding Toll Milling Agreement covering 120,000 tonnes of higher-grade ore, with processing slated for the December 2025 quarter and distributions expected in January 2026.

Progress at Boorara also remains solid, with mining operations delivering sizeable ore stockpiles. However, haulage to the Paddington Mill has temporarily slowed as Norton Gold Fields allocates capacity to its own ore, shifting some anticipated cash inflows to the March and June 2026 quarters. Haulage rates are forecast to normalise to contractual levels by early December. The company reported estimated unaudited cash holdings of AU$33.2 million and expects an additional AU$25.7 million from Boorara ore processing, alongside approximately AU$30.0 million from the proposed divestment of the Lake Johnston asset.

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