Horizonte Minerals PLC Announces Interim Results
13.08.2021 | Accesswire
INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021LONDON, August 13, 2021 - Horizonte Minerals Plc, (AIM:HZM)(TSX:HZM) (the 'Company' or 'Horizonte'), the nickel development company focused on developing its ferro-nickel project in Brazil ('Araguaia' or 'the Project'), announces it has today published its unaudited financial results for the six month period to 30 June 2021 and the Management Discussion and Analysis for the same period. Both of the aforementioned documents have been posted on the Company's website www.horizonteminerals.com and are also available on SEDAR at www.sedar.com.
Highlights for the Period
- Project financing of Araguaia nearing completion with credit approval process underway following completion of due diligence by the International Lenders.
- Senior Debt Facility expected to benefit from significant Export Credit Agency Support.
- Cornerstone strategic investor and final offtake agreements well advanced and expected to be finalised shortly after credit approvals.
- Horizonte maintained a strong cash position of £22.2 million following completion of an £18 million equity fundraise in February 2021.
- Financing discussions remain on track. Credit committee approval for the senior debt facility expected in Q3 2021 as previously announced
- Vermelho progressing with Ramboll awarded Environmental and Social Impact Assessment contract.
Events post the Reporting Date
- Significant progress on key project execution preparation activities, including competitive tendering for supply of key processing equipment, electric furnace and project management (EPCM) services.
- Operational Readiness Plan well advanced with all key permits in place for commencement of construction.
- Key environmental and social programmes continuing in preparation for construction phase.
- Mobilisation of Head of Projects to Brazil and appointment of Engineering, Community, Health and Safety Managers continues the build out of the project execution team.
- Publication of 2020 Sustainability Report in accordance with Global Reporting Initiative.
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SOURCE: Horizonte Minerals Plc