Since IPO

The recent solitary post on Horizon prompted me to put this together to see if there are other quiet holders out there with these views

I've added in the movement to the current A$ gold price from the IPO. The 2016 IPO was at 40c. Also note the terrible timing ... production stopped just before the A$ gold price took off. Mining that was unprofitable then .....?

Plus Discovery Upside Since Then

The Butcherbird Shear is mentioned precisely zero times in the Prospectus. It turns out the shear is linked to the Swan Premium lode, but Horizon only realised the larger mineralised shear was a thing after further drilling and reinterpretation of the data. The Butcherbird Shear now has a free milling exploration target of 270,000oz to 800,000oz. All new since IPO.

The open pittable resources are up modest amounts, Swan to 216koz @ 7.0g/t Au (plus the pit would open access to more of the Bluebird Shear) and Swift 195koz @ 7.2g/t Au

Our refractory gold may have long term value. The company has basically ignored it since IPO which suits me. It has great value if gold hits crazy prices in the crisis.

We have had drilling planned to turn inferred into indicated for a while (too long), 10,000m costed at $1m and approved by the regulator. The in ground value would jump, the scoping study $ figures can be released. I feel a small independent junior would have already raised and be heading towards toll treatment, but circumstances are different here. The big player is drawing back full ownership and I feel a higher current share price and toll treating are not on Zeta's mind. I suspect that the insider excitement is about full profit from owner mining the high grade open pits profitably, which as a bonus then opens up easier access to the potential of the Bluebird Shear.My guess is we will do a big raise to refurbish the plant and mine ourselves. ""there is significant infrastructure on site, including; an accommodation village, 600,000 tonne per annum CIL processing facility (requires refurbishment), airstrip, haul roads and tailings storage facilities. The Swan North and Swift deposits are located adjacent to this infrastructure on granted Mining Lease M57/634."

Should that happen, my plan is to add on the same terms a Zeta. To balance that, Horizon is effectively a subsidiary of Zeta and my concern was they would shaft minority holders. That concern was reduced after the recent purchases by insiders, who will only be doing so because they envisage those holdings prospering.

Very low volume and not for traders. Good luck to all holders.