Stockopedia speaks to Jeremy Martin of nickel and gold explorer Horizonte Minerals

Tuesday, Nov 02 2010 by
Stockopedia speaks to Jeremy Martin of nickel and gold explorer Horizonte Minerals

For many junior mining companies, winning over the financial and technical support of a major industry player is the moment when the transition from exploration to production becomes a real prospect. For AIM listed Horizonte Minerals (LON:HZM) , securing the backing of two mining majors in the last year has transformed the company and offered up significant potential for a major nickel project and multiple gold opportunities in the Carajás region of Brazil.

Horizonte has been active in Brazil for four years under the leadership of CEO Jeremy Martin, chairman David Hall and operations director Nick Winer, all of whom have wide experience of working in the region. Like Hall’s other AIM listed mining interest Stratex International (LON:STI) , Horizonte set out to identify exploration targets and then bring in mining partners to drive them through to production. Earlier this year that strategy was rewarded with a major deal with Canadian giant Teck Resources (TSE: TCK), which swapped its Araguaia nickel operation for a 50% stake in Horizonte. The result, the companies hope, will be a 100m ton resource formed from Araguaia and Horizonte’s nearby Lontra nickel project, with grades comparable to other world class projects in Brazil. Drilling there is now under way.

If that wasn’t enough, Horizonte has also partnered with AngloGold Ashanti (NYSE: AU) on two joint venture gold projects in the country – at Santana and Falcao – with Horizonte taking the exploration lead with up to US$10m of AngloGold’s cash. It also operates a JV with Troy Resources (TSE: TRY) on another gold project at Tangara. With the price of gold continuing to surge and the price of nickel now rising from market lows, Jeremy Martin spoke to Stockopedia about the thinking behind Horizonte’s Brazilian endeavours and the prospects that lie in wait for the company and its investors.

Jeremy, can you tell us about Horizonte and the strategy you have been pursuing in Brazil?

Our business model hasn’t changed. We went out and we recognised the lack of discoveries coming through and that’s the same model that Stratex had in Turkey. The majors are looking for new projects, there needs to be new discoveries in the business to sustain that supply side of the business. Discovery rate is in decline,…

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Horizonte Minerals PLC is a United Kingdom-based nickel development company. The Company owns the advanced Araguaia nickel laterite project located to the south of the Carajas mineral district of northern Brazil. The Araguaia project area consists of approximately 20 exploration licenses totaling approximately 110,170 hectares. The Company has completed diamond drilling of approximately 45,420 meters. Its fourth phase program was designed to complete infill drilling on the grids on the Pequizeiro and Jacutinga deposits of the Araguaia nickel project. Its metallurgical test program includes a series of laboratory tests designed to establish the suitability of the ore for rotary kiln processing; smelting testing; work on agglomeration, and testing for rotary kiln operation and smelting conditions, including a range of physical and chemical laboratory tests. It has started an integrated pilot plant-testing program at Morro Azul RKEF pilot plant test work facility in Minas Gerais, Brazil. more »

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2 Comments on this Article show/hide all

StrollingMolby 9th Nov '10 1 of 2

Those with an interest in Horizonte Minerals (LON:HZM) may be interested to know that the company is scheduled to present at next Tuesday's Proactive Investors evening at The Chesterfield Hotel in Mayfair/Green Park (6-8pm)

I'd encourage you to book early though as Gulf Keystone Petroleum (LON:GKP) are also lined-up, as are two Canuck outfits Lydian International (TSX: LYD) and Andover Ventures Inc. (TSX-V: AOX).


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About Ben Hobson

Ben Hobson

Strategies Editor at Stockopedia. My goal is to help private investors learn and invest with confidence through the articles, ebooks and other resources we publish on site. I also occasionally bunk off to interview famous investors at expensive restaurants. I studied History at Aberystwyth University, trained as a journalist and covered business news and corporate finance before settling in as one of the first staff members at Stockopedia.  Away from Stockopedia I'm a mountain bike junkie. more »


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