Interim Results HJ 1, 2021
Highlights for the Period
- Project financing of Araguaia NEARING COMLETITION, with credit approval process underway, following completion of due diligence by the International Lenders .
- Senior Debt Facility expected to benefit from significant Export Credit Agency Support .
- Cornerstone strategic investor and final offtake agreements well advanced and expected to be finalised shortly after credit approvals .
- Horizonte maintained a strong cash position of £22.2 million following completion of an £18 million equity fundraise in February 2021.
- Financing discussions remain on track. Credit committee approval for the senior debt facility expected in Q3 2021 as previously announced
- Vermelho progressing with Ramboll awarded Environmental and Social Impact Assessment contract .
Events post the Reporting Date
- Significant progress on key project execution preparation activities, including competitive tendering for supply of key processing equipment, electric furnace and project management (EPCM) services .
- Operational Readiness Plan well advanced, with ALL key permits in place for commencement of construction .
- Key environmental and social programmes continuing, in preparation for construction phase .
- Mobilisation of Head of Projects to Brazil and appointment of Engineering, Community, Health and Safety Managers continues the build out of the project execution team .
- Publication of 2020 Sustainability Report in accordance with Global Reporting Initiative.
http://horizonteminerals.com/uk/en/press-releases/2021/interim-results/
