Horseshoe Metals (ASX:HOR)Capital Structure:Ordinary Shares 70.7...

Horseshoe Metals (ASX:HOR)

Capital Structure:

Ordinary Shares 70.7 M

Options (20c exp 30/06/13) 6.1 M

Options (35c exp 25/05/13) 3.3 M

Options (45c exp 25/05/14) 3.3 M

Options (60c 25/05/15) 3.3 M
Current Market Cap: $14M approx

52 Week High/Low: $0.41 - $0.14

Cash at Bank (30/6/12) $2.5 M

Major Shareholders:

Investmet Limited 14.1%

Azure Capital Limited 7.1%

Current Resource Estimates:

91,000t Cu

37,400 oz Au

Current Activities & Upcoming Newsflow.

September 2012 – re-commence drilling at Kumarina

By end of 2012 - 4000 metres of Diamond & RC drilling to be completed at Horseshoe Lights

Early 2013 – updated mineral resource estimate at Horseshoe Lights

Preliminary Feasibility Study on Horseshoe Lights to be conducted after resource update

As more encouraging drilling results come in from Horseshoe Lights, HOR is shaping up to be an explorer worthy of consideration for a slightly longer term investment. Determining the economic feasibility of the Horseshoe Lights project will be a major step forward and, if successful, will enable management to go to the market for further capital to bring the mine back into production.

Kumarina remains as the blue sky project and with drilling to re-commence in September, we should be in for an exciting 6 months.