Horizon Gold (HRN) Trading Update summary
Event summary combining transcript, slides, and related documents.
Trading Update summary
12 Jun, 2025Project development and economic improvements
Ongoing work aims to enhance the Gum Creek Project's economics by optimizing mine scheduling to reduce pre-strip mining, dewatering costs, and sustaining capital expenditure.
The Gum Creek Gold Project is confirmed as a robust, stand-alone mining operation, supporting the move to a Feasibility Study.
Potential exists to extend mine life through underground mining and further drilling at 12 resource areas not included in the scoping study.
Revised mining schedules prioritize deposits with lower strip ratios, reducing initial capital outlay and water management costs.
Evaluation of grade cutoff options and processing throughput rates is underway, with updated geological models being prepared.
Financial and operational highlights
Scoping study base case at A$2,900/oz gold price projects 888,000oz production, A$574M pre-tax cashflow, A$318M pre-tax NPV8, 31.5% IRR, and a 3-year payback.
No mining development or production occurred during the quarter; $468,000 was spent on exploration and evaluation.
Cash at hand at quarter end was $219,000, with a $1,000,000 undrawn short-term loan facility available.
Estimated quarters of funding available is 2.0, combining cash and undrawn facility.
Payments to directors and related parties totaled $137,000 for the quarter.
Resource and tenement status
Gum Creek hosts a gold resource of 44.45Mt @ 1.50g/t Au for 2.14Moz, including 1.3Moz free milling resource.
The project covers 504km² of granted tenure, with 37 open pit and three underground gold mines.
All mining tenements remain 100% held by Horizon, with three exploration licenses surrendered during the quarter.
No farm-in or farm-out changes occurred during the quarter.
Ongoing work includes converting resource models to better reflect mineralization styles at key deposits.
Latest events from Horizon Gold
- Net loss of $121,000, major capital raised, and ongoing feasibility work at Gum Creek amid funding uncertainty.HRN
H1 202615 Mar 2026 - Gum Creek Gold Project targets a rapid, high-grade restart with major exploration and growth upside.HRN
RIU Explorers Conference 202617 Feb 2026 - Feasibility Study progresses on schedule with robust funding and promising gold exploration results.HRN
Q1 2026 TU19 Oct 2025 - Feasibility and exploration at Gum Creek advance amid higher gold prices and improved financials.HRN
H2 202528 Sep 2025 - High-grade gold intercepts and a $12M capital raise position the project for robust advancement.HRN
Q4 2025 TU27 Jul 2025 - 2.14Moz gold resource, strong economics, and major growth potential at Gum Creek.HRN
Investor Presentation21 Jul 2025 - Gum Creek scoping study shows strong economics as Horizon Gold improves loss and raises capital.HRN
H2 202412 Jun 2025 - Feasibility work and drilling advance at Gum Creek as funding and asset reviews continue.HRN
Trading Update12 Jun 2025 - Feasibility and resource drilling at Gum Creek advances, with strong cash reserves supporting growth.HRN
Trading Update12 Jun 2025