REG - Horizonte Minerals - Filing in Canada of Financial Statements <Origin Href="QuoteRef">HZM.L</Origin>

Horizonte MineralsAnnouncement

06/09/2014 20:26

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RNS Number : 0982N
Horizonte Minerals PLC
23 July 2014 
 
NEWS RELEASE 
 
HORIZONTE ANNOUNCES FILING IN CANADA OF FINANCIAL STATEMENTS 
 
TORONTO, ONTARIO, July 23, 2014 - Horizonte Minerals Plc (TSX:HZM, AIM:HZM)
(the "Corporation") announces that it has today filed in Canada its audited
annual consolidated financial statements for the year ended December 31, 2013,
and its unaudited interim condensed consolidated financial statements for the
three months ended March 31, 2014 prepared in accordance with Canadian
reporting requirements. 
 
The filing is required by regulatory authorities in Canada so that that the
financial statements filed in Canada are prepared in accordance with
"International Financial Reporting Standards" and "International Standards on
Auditing", rather than "International Financial Reporting Standards as adopted
by the European Union" and "International Standards on Auditing (UK and
Ireland)", respectively required for reporting on the London Stock Exchange. 
 
In either case the Corporation's primary statements - comprising the
Consolidated Statement of Comprehensive Income, Consolidated Statement of
Financial Position, Consolidated Statement of Changes in Shareholders Equity
and Consolidated Statement of Cashflows - are unchanged. 
 
The Corporation's consolidated financial statements will continue to be
prepared in accordance with "International Financial Reporting Standards as
adopted by the European Union" and audited in accordance with "International
Standards on Auditing (UK and Ireland)" as applicable for reporting on the
London Stock Exchange, and also in accordance with "International Financial
Reporting Standards as adopted by Canada" and audited in accordance with
"International Standards on Auditing (Canada)". 
 
The financial statements are available on SEDAR. 
 
**ENDS** 
 
For further information visit www.horizonteminerals.com or contact: 
 
 Jeremy Martin                                   Horizonte Minerals plc                                                                         Tel: +44 (0) 20 7763 7157                                                    
 David Hall                                      Horizonte Minerals plc                                                                         Tel: +44 (0) 20 7763 7157                                                    
 Joanna Weaving Matthew RobinsonScott Mathieson  finnCap Ltd (Corporate Broking)finnCap Ltd (Corporate Finance)finnCap Ltd (Corporate Finance)  Tel: +44 (0) 20 7220 0500Tel: +44 (0) 20 7220 0500Tel: +44 (0) 20 7220 0500  
 Felicity Edwards Lottie Brocklehurst            St Brides Media & Finance Ltd (PR)St Brides Media & Finance Ltd                                Tel: +44 (0) 20 7236 1177Tel: +44 (0) 20 7236 1177                           
 
 
About Horizonte Minerals: 
 
Horizonte Minerals Plc is an AIM and TSX-listed nickel development company
focused in Brazil, which wholly owns the advanced Araguaia Project located to
the south of the Carajas mineral district of northern Brazil. 
 
The Corporation is developing the Araguaia Project as the next major nickel
mine in Brazil, with targeted production by 2017. 
 
The Araguaia Project, which has excellent infrastructure in place including
rail, road, water and power, has a current Mineral Resource estimate of
71.98Mt grading 1.33% Ni (Indicated) and 25.4Mt at 1.21% Ni (Inferred),
prepared in accordance with National Instrument 43-101 ("NI 43-101"). Included
in the Mineral Resources is a Probable Mineral Reserve base of 21.2Mt at 1.66%
Ni at a 0.95% Ni cut-off. 
 
A Prefeasibility Study has been completed which underpins the robust economics
of developing a mine with a targeted 15,000tpa nickel in ferro-nickel output
with a 20% Fe-Ni product over a 25 year mine life utilising the proven
pyrometallurgical process of Rotary Kiln Electric Furnace technology. At these
production rates, the Araguaia Project has a post-tax NPV of US$519 million at
a discount rate of 8% and an IRR of 20%, with a capital cost of US$582
million. 
 
Horizonte has a strong shareholder structure, including Teck Resources Limited
(42.5%), Henderson Global Investors (15.1%) and Anglo Pacific Group (9.2%). 
 
The scientific and technical information contained in this news release has
been reviewed and approved by David Hall, BSc, MSc, Fellow SEG PGeo, Chairman
of Horizonte, a qualified person within the meaning of NI 43-101. 
 
For further details on the Araguaia Project, please refer to the technical
report entitled "NI 43-101 Technical Report, Prefeasibility Study (PFS) for
the Araguaia Nickel Project, Pará State, Brazil", dated March 25, 2014, which
is available on the Corporation's website at horizonteminerals.com and on
SEDAR at www.sedar.com. 
 
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION 
 
Except for statements of historical fact relating to the Corporation, certain
information contained in this news release constitutes "forward-looking
information" under Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with respect to the
standards under which the Corporation will prepare its financial statements in
the future; the potential of the Corporation's current or future property
mineral projects; the success of exploration and mining activities; cost and
timing of future exploration, production and development; the estimation of
mineral resources and reserves and the ability of the Corporation to achieve
its goals in respect of growing its mineral resources; and the realization of
mineral resource and reserve estimates. Generally, forward-looking information
can be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or "will
be taken", "occur" or "be achieved". Forward-looking information is based on
the reasonable assumptions, estimates, analysis and opinions of management
made in light of its experience and its perception of trends, current
conditions and expected developments, as well as other factors that management
of the Corporation believes to be relevant and reasonable in the circumstances
at the date that such statements are made, and are inherently subject to known
and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Corporation to
be materially different from those expressed or implied by such
forward-looking information, including but not limited to risks related to:
exploration and mining risks; competition from competitors with greater
capital; the Corporation's lack of experience with respect to
development-stage mining operations; fluctuations in metal prices; uninsured
risks; environmental and other regulatory requirements; exploration, mining
and other licences; the Corporation's future payment obligations; potential
disputes with respect to the Corporation's title to, and the area of, its
mining concessions; the Corporation's dependence on its ability to obtain
sufficient financing in the future; the Corporation's dependence on its
relationships with third parties; the Corporation's joint ventures; the
potential of currency fluctuations and political or economic instability in
countries in which the Corporation operates; currency exchange fluctuations;
the Corporation's ability to manage its growth effectively; the trading market
for the ordinary shares of the Corporation; uncertainty with respect to the
Corporation's plans to continue to develop its operations and new projects;
the Corporation's dependence on key personnel; possible conflicts of interest
of directors and officers of the Corporation, and various risks associated
with the legal and regulatory framework within which the Corporation
operates. 
 
Although management of the Corporation has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Corporation does not undertake to update any
forward-looking information contained in this news release, except in
accordance with applicable securities laws. 
 
This information is provided by RNS
The company news service from the London Stock Exchange