Horizon Copper Moves Forward with Strategic Project Developments

Horizon Copper Moves Forward with Strategic Project Developments

Horizon Copper Corp. (TSXV: HCU) (OTCQX: HNCUF) is excited to provide comprehensive updates on its progress. The Company has a significant non-operating stake, amounting to 30%, in the Hod Maden copper-gold project. Additionally, Horizon holds a 24% equity interest in Entrée Resources Ltd., which gives it access to the Hugo North Extension and Heruga deposits at the Oyu Tolgoi copper mine.

Hod Maden Pre-Construction Investment Plans

The operator, SSR Mining Inc., is making considerable strides towards initiating early-works construction at Hod Maden, with an estimated capital expenditure reaching between $60 and $100 million in the coming year. This investment focuses on crucial aspects necessary for the project’s development, such as roadways and tunneling, leading to a formal investment decision. The Company is optimistic about the expected progress on this project, aiming for production by 2028.

Funding Strategies for Development

Horizon Copper plans to finance its share, which is projected to be approximately 30% of the development costs, through a mix of available cash on hand, operational cash flow, and an undrawn revolving credit facility that allows for borrowing up to $30 million, plus an additional $20 million accordion option. This structured approach aims to enhance fiscal sustainability while propelling development initiatives forward.

Impressive Exploration Activities at Hugo North and Heruga

Recent results from Entrée Resources indicate promising outcomes from drilling at both the Hugo North Extension and the western edge of the Heruga deposit. Results collected over the last couple of years confirm the exceptional quality of the mineralization within this region, further solidifying its status as a world-class copper-gold project. Continual updates from Entrée showcase significant analytical results that highlight the potential growth and extraction capabilities of these assets.

Highlights from Recent Drilling

Noteworthy results from the drilling at the Hugo North Extension reveal multiple high-grade intersections of copper and gold, indicating the potential for substantial resource accumulation. Particularly, several underground drill holes showcased impressive grades, confirming the mineralization’s consistency and projection. Examples include drill hole UGD 578 and UGD 807C, which exhibit extraordinary copper and gold results. Such findings reinforce Horizon Copper's strategic direction and shareholder confidence in the company’s collaborative efforts with Entrée Resources.

Market-Making Engagement and Strategic Growth

To buttress its market presence, Horizon Copper has engaged ICP Securities Inc. to assist with market-making services. This collaboration, based on their advanced algorithm, aims to enhance liquidity and stabilize share performance in the fluctuating market environment. This partnership illustrates Horizon's commitment to maintaining robust market dynamics while diligently managing its investments.

Amendments to Financial Agreements

In addition to market strategies, Horizon has re-negotiated some terms associated with its promissory notes with Sandstorm. The updated agreements will extend certain options, allowing the Company greater flexibility in managing its finances as development progresses on the Hod Maden project. This proactive financial strategy underlines Horizon’s ongoing commitment to balancing growth prospects with sustainable capital management.

About Horizon Copper

Horizon Copper stands as a leading player in the copper industry, primarily focusing on its premium asset portfolio. Key holdings include a 1.66% net profit interest in the Antamina copper mine, substantial exposure to the Oyu Tolgoi mine, and the 30% stake in the Hod Maden copper-gold project. The Company is steadfast in its intention to expand its asset portfolio with a concentrated focus on copper-centric projects.

Frequently Asked Questions

What are the main projects Horizon Copper is involved in?

Horizon Copper is primarily focused on the Hod Maden copper-gold project and the Hugo North Extension and Heruga deposits at the Oyu Tolgoi mine.

How is Horizon Copper funding its project developments?

The Company plans to finance its development costs using a combination of cash reserves, operating cash flow, and a credit facility.

What recent drilling results have been reported by Entrée Resources?

Analytical results have shown high-grade copper and gold intersections, indicating a world-class mineralization potential at Hugo North and Heruga.

What is the significance of ICP Securities for Horizon Copper?

ICP Securities provides market-making services that enhance liquidity and maintain a stable market presence for Horizon Copper's shares.

How does Horizon Copper handle its financial agreements?

Horizon actively renegotiates financial terms to afford greater flexibility for managing its investments and project developments.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

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