Without a doubt the cheapest gold play on the market.
Market Cap: 27 Mill.Top 20 = 79.81% as of the last top 20 announcement on the website.
Infrastructure: Accommodation village, airstrip, tailings storage facilities, road networks and a 600ktpa plant.Total resource: 15.9 MT at a grade of 2.7 g/t AU for a 1.39M oz of gold.Two thirds of this resources is free milling.
Cash - 120k as of end of last quarterly report with a bridging loan of 800k approved by biggest shareholder Zeta until end of Sep 2020 (funding to be secured this quarter you would think).
Panoramic Resources - sold their remaining share holding in Horizon gold at .20c
New directors and appointed and a representative of major shareholder Zeta is appointed.Who are Zeta? They seem to be an investment vehicle, their biggest share holder is a fund that i believe is based out of the US with 3 billion under management (again check this yourself).New director has subsequently being buying stock on market (180k recently, check recent announcements).
My opinion on what is happening here: If you read the ASX announcements over the last 12-18 months it is clear to see that a jostle has been going on for control here with directors coming and going and this wonderful asset sitting idle..My guess is this...
A refurb of the plant is required and would cost around 50 mill. The asset hasn't been mined since 2005 when it was shut down to a low gold price, the fact that they even thought they could make money in the early 2000's mining gold there makes me think at current price this would be a cash cow. So back of the envelope calculations here..1.3 Mill oz, lets say it hypothetically costs then 2000 per ounce to produce (i have no reason or idea what it would be and i imagine as they produced in 2005 it would could be half of this).
This resource is completely unhedged, so at hypothetical AISC of 1200 (using the 1200 as this was the figure in the old PAN DFS study from 2016, source the old announcement yourself. AUD against an assumed spot of 2500 AUD the mining value of JUST the free milling ore would be approx 1.1 billion.
Do your own research and these are my opinions only that could be wrong
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HRN
horizon gold limited
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Without a doubt the cheapest gold play on the market.Market Cap:...
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Last
48.0¢ |
Change
-0.005(1.03%) |
Mkt cap ! $74.47M |
Open | High | Low | Value | Volume |
48.0¢ | 48.0¢ | 48.0¢ | $25.15K | 52.40K |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 10676 | 47.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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48.0¢ | 4207 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 10676 | 0.470 |
1 | 25000 | 0.465 |
1 | 25000 | 0.460 |
1 | 2500 | 0.430 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.480 | 4207 | 1 |
0.485 | 54939 | 1 |
0.500 | 43759 | 2 |
0.540 | 19375 | 1 |
0.575 | 100000 | 1 |
Last trade - 14.14pm 08/08/2025 (20 minute delay) ? |
HRN (ASX) Chart |