Horizon Minerals to resume gold production with new ore deal [Video]

Horizon Minerals Ltd (ASX:HRZ) CEO Grant Haywood sits down with Jonathan Jackson in the Proactivestudio to discuss a binding ore sale agreement with Paddington Gold Pty Ltd, a subsidiary of Norton Gold Fields Ltd, for the processing of 1.4 million tonnes of ore from Horizon’s Boorara Gold Project. This ore will be treated at Paddington’s 3.8 million tonnes per annum capacity mill, approximately 56 kilometres from Boorara in Western Australia. The agreement covers a processing period of 22 months starting in the September 2024 quarter. Under the terms of the agreement, Horizon will manage mining and transportation of the ore to Paddington’s mill. Payments will be made to Horizon within five days of ore delivery, amounting to 50% of gross revenue after deductions for estimated processing costs and royalties. The final revenue will be adjusted based on ore grade, moisture, and recovery rates after complete processing. Haywood, highlighted the deal as an opportunity to …