Horizon Minerals Updates JustStocks Video On Its Phillips Find and Boorara Gold Projects
Summary Of Video Interview
The company has completed processing the first 37,624 dry tonnes of ore from the Phillips Find joint venture (JV) with BML Ventures Pty Ltd at FMR Investments Pty Ltd’s Greenfields Mill.
This ore, grading 1.46g/t, yielded 1,675.3 ounces of gold sold at an average price of $4,728/oz, generating approximately $7.9 million for the JV.
Under a 200,000-tonne toll milling agreement with FMR, an additional 80,000 tonnes from Phillips Find and 80,000 tonnes from Boorara will be processed at Greenfields Mill in April and June 2025.
Horizon has also signed a new toll milling agreement with Focus Minerals Limited to process 70,000 tonnes of Phillips Find ore at the Three Mile Hill plant in September and October 2025.
This follows grade control drilling at Phillips Find, which prompted a revised mining schedule.
The company expects this arrangement to boost overall gold production alongside Boorara’s output.
At Boorara, mining, haulage, and processing are advancing smoothly.
The first 50,604 dry tonnes of ore, grading 0.791g/t, were processed under an ore sale agreement with Norton Gold Fields’ Paddington Mill, producing 1,163 ounces sold at $4,256/oz for $4.951 million in revenue.
A second parcel is currently being processed, and a third is being hauled.
Over 100,000 tonnes of high-grade ore are stockpiled at Boorara, supporting additional processing campaigns at Greenfields Mill in April and June.
Boorara has reached steady-state ore production.
Managing Director and CEO Grant Haywood highlighted the progress, noting that significant ore stockpiles and continuous processing will drive cash flow into 2026.
HRZ Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
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