2017 Annual Report
Perth, Sep 29, 2017 AEST (ABN Newswire) - Intermin Resources Limited (
ASX:IRC) has made significant progress during the year on a number of fronts including value accretive acquisitions, exploration success, the commencement of our first mine at Teal and the divestment or joint venture of non-core assets in line with the new strategic plan. Intermin had approximately $3M cash as at June 30, no debt and holdings in ASX listed Companies with a value of $1.2M.
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About Horizon Minerals Limited
Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
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