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Horizonte Minerals : New AIM listing

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South American explorer targets AIM // Horizonte Minerals (HZM.L) : daily chart

30/03/2006

 

Horizonte Minerals, with advanced mining projects in Brazil and Peru, is seeking at least £2.5 million on AIM.

 

Geologist and mining entrepreneur David Hall is chairman of Horizonte, which he says wants to identify potentially major mining projects and farm them out to big mining groups. At present, the company has three principal projects, two of which were previously held by the Minmet group, where Hall is a director and whose disposal programme he led.

 

Horizonte has 100 per cent of the 300 sq km Tangara gold project in north-east Brazil, where local artisan miners have found high-grade veins with 24 grammes of gold per tonne of ore. Previously, sulphide outcrops there have yielded ten to 20 grammes a tonne.

 

Some 50kms away is Falcao, formerly held by mining giant BHP, where Jeremy Martin, Horizonte's chief executive, reckons there is potential for a bulk tonnage operation. El Aguila in the mineral-rich Cerro de Pasco district of Peru was acquired by Minmet in 2002 from Apex Silver and earlier sampling has shown some impressive silver grades of up to 50 oz a tonne.

 

Minmet and Brazilian group MVR will each have 15 per cent of Horizonte after its flotation, which is being handled by broker Hichens Harrison. The company has already raised £100,000 privately at 10p and is now looking for a minimum of £2.5 million at between 25p to 25p, valuing Horizonte at £8 to £10 million.

 

Hall boasts the company is only interested in projects with the potential for two million oz of gold each or the equivalent in other metals. It has speculative appeal as long as current sector sentiment persists.

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Yes, I am in.

 

Some from the pre-IPO financing from last year,

and some from the current placing at 30P

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I bought thru my broker, Hichens, who is the broker for the IPO.

 

It starts trading next week

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I bought thru my broker, Hichens, who is the broker for the IPO.

 

It starts trading next week

 

I will look into this aswell but how would i buy from these people, and typically how much do they expect as a minimum order (I am sure i have very little money compared to most on here)....

 

Indi...

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They (Hichens) have done a Q&A on GEI.

 

I think they like to see a minimum transaction of about Pds5,000,

but can go below that for people who like to participate in mining placements

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Minesite has done an article on Horizonte... // chart : 5days : 34.5p

 

Horizonte Minerals Deserves A Successful Debut On AIM As Its Plans And Portfolio Make Sense.

 

This week on the AIM market kicked off with a successful debut for Horizonte Minerals which started trading at 35p on reasonable volume against 30p at which £2.3 million had been raised by a private placement. In this case also itg is worth pointing out that RAB Capital has not built up a significant position through pre-IPO fundings, so there is no potential overhang in the market which investors will find encouraging. David Hall, the chairman, knows all about such problems as he is also involved in a company called Stratex International which listed at the beginning of this year. Stratex has quite a lot going for it, but Minews made no comment in case investors interpreted it as a recommendation and then found the share price was bombed by a seller.

 

CONtinues: http://www.minesite.com/storyFull5.php?storySeq=3498

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JUST HAD A PM... from someone saying:

 

He bought both Horizonte and Hidefield, and is now "unhappy" that he did.

 

NOW, I find this attitude just a little curious. What did he expect??

 

Personally, I bought both in the recent placements (HIF at 8.5p), and Horizonte (at 30p).

I am very pleased with what I am seeing. There has been a sharp selloff in Gold mining stocks, and these two are holding rather well at profitable levels. The should be good candidates from upward action if and when gold resumes its upward course, or either company can report favoravle drilling news or other corporate progress.

 

All I can conclude is that the unhappy holder either:

 

+ Bought sloppily, paying too much over the placement price- unfortunately this is all to easy in the AIM market with its wide bid/offer spreads, or

 

+ He expected an immediate rocket ship move in the stocks, and they are not that type of company, at least not until they have some news to report, or

 

+ He bought, thinking gold would continue to rocket upwards- which is unrealistic

 

Frankly, this correction is healthy for the market. It was drawing in too much speculative "hot money", and now the hot money may be leaving. Maybe their exit will push some stocks down to bargain levels. Such is the way of markets, and newcomers will need to learn this lesson

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More info on HZM from Pro-Active

 

EXCERPT:

 

Tangara:

where CVRD had conducted unsystematic exploration including limited drilling, Horizonte have defined a +50 ppb gold in soil anomaly, containing two major trends, which extends for over 5km and varies from 600m to 800m in width. Grades in soil range from +0.25g/t to 2.4g/t gold and rock sampling has returned values of up to 15 g/t Au, in an area where there are many garimpeiro workings. There are four distinct target areas on this property, although Horizonte are focusing on just one of them at the moment.

 

Falcao:

the main area of interest is an open 6km long anomalous gold/copper and zinc/silver/gold zone. A widespaced RC drilling campaign by BHP returned a best intersection of 6 metres at 7 g/t Au from 3m depth, plus a number of other highly anomalous intersections. Horizonte has signed a letter of intent to purchase a geological database, which includes exploration data on the project, from BHP Billiton SA.

 

El Aguila:

Of the ex-Minmet properties, the key licence is the El Aguila silver and base metals project in the Cerro de Pasco mining district 4,400 ft above sea level in Peru. Work here commenced in 2001 with systematic sampling and mapping leading to an exploratory 6-hole drill campaign in the Pacos Hill area at the end of 2002.

 

 

@: http://www.proactiveinvestors.co.uk/articles/article.asp?HZM

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