Horizonte Minerals Plc: Interim Financial Results for the Six Months Ended 30 June 2020

LONDON, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Horizonte Minerals Plc,A (AIM: HZM; TSX: HZM) (the "Company" or a??Horizontea??), the nickel development company focused on developing its ferro-nickel project in Brazil (a??Araguaiaa?? or a??the Projecta??), announces it has today published its unaudited financial results for the six month period to 30 June 2020 and the Management Discussion and Analysis for the same period. Both of the aforementioned documents have been posted on the Companya??s website and are also available on SEDAR at for the Period

Horizonte maintained a strong cash position of A?15.6m following completion of the US$25 million royalty transaction with Orion Mine Finance in Q4 2019;

Well funded to advance Araguaia towards being construction ready;

Project financing process currently running to schedule with no negative effects on the process observed as a result of the Covid-19 pandemic, although a delay to the process may occur should a further period of a??lock-downa?? be implemented;

Work on Araguaia continued to advance the level of engineering from feasibility stage level through to being implementation ready;

Ms Sepanta Dorri was appointed to the board as the nominee Director for Teck Resources ("Teck") replacing Alex Christopher who stepped down due to other commitments;

All employees and relevant stakeholders continue to follow strict health and safety policies specifically tailored to Covid-19. Remote working, where practicable, remains in place with all major workstreams continuing as planned;

The Group donated 300 food parcels during April & May to the municipalities of ConceiA§A?o do Araguaia, Floresta do Araguaia and Xinguara, in light of the socio-economic impact caused by Covid-19; and

Nickel market fundamentals remain robust, with analyst consensus price of $16,133/t at the time Araguaia is forecast to commence production, driven by growth in the EV battery sector and steady growth in the stainless steel market.

Events post the Reporting Date

A syndicate of five international financial institutions mandated for a US$325 million senior debt facility to part fund the development of Araguaia;

BNP Paribas, ING Capital LLC, Mizuho Bank, Ltd., Natixis, New York Branch, andA SociA©tA© GA©nA©rale will act as the Mandated Lead Arrangers;

Closing of the facility, targeted for end of the calendar year 2020, remains subject to completion of due diligence, final credit approvals and execution of definitive facility documentation; and

Peel Hunt LLP appointed as nominated adviser and sole broker to the Company.

Horizonte Minerals plcCondensed Consolidated Interim Financial Statements for the six months ended 30 June 2020
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