Horizon Gold (HRN) Q1 2027 TU earnings summary

Executive summary

• Exploration and resource drilling advanced across nine Gum Creek prospects; the project hosts 2.30Moz of gold resources across 37.97Mt at 1.89g/t Au.

• Deep drilling at Snook produced the program’s strongest intercept, with 44m at 5.08g/t Au, and extended mineralisation to ~230m below surface.

Financial highlights

• Cash at 30 September 2026 was A$16.945m, compared with A$24.045m at the prior quarter end.

• Net operating cash used was A$414k; net investing cash used was A$6.816m, including A$6.551m for capitalised exploration and evaluation.

• Financing activities generated A$130k net, including A$132k from equity issues and A$2k of transaction costs.

Outlook and guidance

• Further Snook drilling is planned ahead of an MRE update early in 2027; Kingfisher, Howards and Melbourne Bitter updates are also targeted for early 2027.

• The DFS forecasts a 2.4Mtpa facility, average annual production of 88koz over an initial 10-year mine life, peak annual output of 114koz in year two, and AISC of A$2,995/oz.

• Follow-up RC and diamond drilling is planned across all nine prospects; active programs include Kingfisher diamond drilling and Howards RC drilling before moving to Wyooda targets.