This is what the company stated to me about 12 months ago-
’Boorara is the key focus and will provide a great source of cashflow to Horizon through our ore purchase agreement with Paddington, and we are finalising the ore reserve, mining and ore haulage contracts and engagement of management and technical staff to support the operations – this is our main focus in the near term until these tasks are done. On the debt, Boorara should make significant cashflows to service the debt, and set the business up to fund additional mining and drilling going forward. A back stop in the rare case that we need it, is our listed investments, particularly our RVT and OBM shares would clear the debt when those shares are out of escrow (RVT out of escrow in Dec 24 and last tranche of OBM in Jan 25) with the debt due in May 25.’
HRZ Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
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