Horizonte Minerals Regulatory News (HZM)

8 May 2006 07:01

Horizonte Minerals08 May 2006 Horizonte Minerals plc / HZM_LN/ Market: Joining AIM / Sector: Mining & Exploration Horizonte Minerals plc ('Horizonte' or 'the Group') First Day of Dealings on AIM For Brazil and Peru Focused Gold Explorer Having Raised £2.3 Million Overview • First day of dealings on AIM having raised £2.3 million through a Placing of 7,666,667 new Ordinary Shares at 30 pence per share • International mineral resources exploration group focused on the identification, appraisal and development of gold and base metal projects in Brazil and Peru • Management with considerable experience of working in Brazil and Peru • Three 100% owned core projects, Tangara, Falcao and El Aguila, demonstrate potential to host gold and silver-zinc systems • Pipeline of early stage gold and base metal exploration projects identified in Brazil • Objective to become a recognised supplier of quality exploration projects and a preferred exploration partner for Majors in the region • Focus on low cost, high reward phase of early stage exploration Horizonte CEO Jeremy Martin: "Participants in the mining industry are facing ashortage of early to late stage projects to develop their pipeline and replaceresources/reserves. Horizonte is focused on the low cost high reward phase ofthe exploration/mining business. The best way to increase the probability ofsuccess is to have suitably qualified and experienced geological management withappropriate local knowledge. Horizonte brings just such a team together." "We already have three core projects which are located within strategic miningprovinces with a history of exploration success. There is a significantopportunity, particularly in Brazil, where juniors can gain control of largedistrict scale targets in highly prospective areas. Previous low levels ofexploration investment in Brazil have created an imbalance in supply and demandwhich we aim to take advantage of. We also have a generative programme toincrease our asset base and provide a pipeline of quality exploration projects.With an established portfolio, a busy development programme and a healthypipeline of projects, Horizonte is well placed to exploit this opportunity." For further information visit: www.horizonteminerals.com Contacts Jeremy Martin/David Hall Horizonte Minerals plc Tel: 020 7495 5446 David Paxton Hichens Harrison Tel: 020 7588 5171 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 John Frain/Fergal Meegan Davy Tel: +353 1 679 6363 Introduction Horizonte Minerals plc, an international mineral resources exploration groupfocused on the identification, appraisal and development of gold and base metaldeposits in Brazil and Peru, began trading on AIM today. The Group raised £2.3million before expenses by way of a conditional placing of 7,666,667 newOrdinary Shares at 30 pence per share. The total number of shares in issue atAdmission will be 29,507,667, giving the Group a market capitalisation ofapproximately £8.85 million. The funds raised will be used to continue thedevelopment of the Group's existing portfolio, to add to this portfolio and tofinance the Group's corporate and other overheads. Davy is Nominated Adviserand Hichens, Harrison & Co. Plc is Broker to the Company. The Group is led by an experienced management team, with over 50 years ofcombined experience in mineral exploration in South America, particularly inBrazil, where it has assembled a portfolio of core and early stage wholly ownedgold and base metal exploration projects at various stages of development. The Group's primary focus is on the identification of gold and base metaldeposits in Brazil and on the appraisal and resource definition of thesedeposits by undertaking various exploration and development activities. Assumingsatisfactory results from such activities, the Group will seek to enter intopartnership/joint venture arrangements with mineral exploration and productionpartners, who will incur the investment required to further develop theseprojects while allowing Horizonte retain a long term economic and/or financialinterest in each such project. Horizonte currently has two core gold exploration projects in Brazil and onecore silver-zinc-lead project in Peru. The two core Brazilian gold projects,Tangara and Falcao, are located to the south of the highly prospective CarajasMineral Province. Each project covers an area of approximately 300 sq km and iscentred over a greenstone belt, with identified gold mineralisation fromexploration activities undertaken by previous owners and from garimpero mining.The Directors believe that the large land package, the aerial extent of themineralised system and the high density and magnitude of related gold anomalies(identified in river sediments, surface soils and rocks), indicate the potentialfor multiple discoveries. The Group's core silver-zinc-lead project is locatedin the historic mining district of Cerro de Pasco in Central Peru. The Directorsbelieve that early trial mining and limited drilling on this project, undertakenby its previous owners, demonstrates the potential for high-grade discoveries onthis project. In addition, the Group has a portfolio of early stage exploration projects,which are located in strategic mining districts in Brazil. The Group intends toacquire exploration rights over additional prospective terrain to supplement andenhance its existing exploration project portfolio. This process is importantfor the continuing development of the Group and its asset base. Horizonte is executing the Placing and Admission so as to develop further itsexisting core exploration projects in Brazil and Peru and to determine thecharacteristics and magnitude of their potential mineral resources, to continuethe development of the Group's existing portfolio of early stage explorationprojects in Brazil and Peru and to add to this portfolio and to finance theGroup's corporate and other overheads. Directors and Senior Management Directors David J. Hall (aged 47), BA (Hons), MSc, Non-Executive Chairman - 24 yearsexperience in the exploration sector and has worked on and assessed explorationprojects and mines in over 40 countries. Positions David has held includeconsultant geologist for Minorco South America, exploration manager forAngloGold South America and operations director of Minmet plc. He is alsofounder and Chairman of Stratex International Plc, an AIM traded company withexploration assets in Turkey in which Teck Cominco Limited is an equityshareholder. Jeremy J. Martin (aged 29), MSc, ASCM, Director and Chief Executive Officer -worked in South America for Inca Pacific Resources Inc. and in Central Americaand Europe for Minmet plc, where he was responsible for grassroots regionalmetalliferous exploration programmes through to resources definition and minedevelopment. He has been involved in the formation of two AIM traded companiesand has completed a number of high value mineral project transactions. Nicholas R. Winer (aged 46), BSc, Director and Chief Operation Officer - over 20years of experience in gold, base metals and diamond exploration in SouthAmerica, Africa and Australia. He was exploration manager for AngloGold doBrasil Ltda, prior to which he spent 18 years with the exploration division ofBHP Limited, now BHP Billiton Limited. Allan M. Walker (aged 46), MA, Non-Executive Director - 22 years experience ininvestment banking, primarily in energy, project finance and private equity,particularly in emerging markets. Previous positions include head of energyfinance in London for Standard Bank Plc; director in global energy and projectfinance group of Credit Suisse First Boston in London; and head of the energygroup at CSFB Garantia in Sao Paulo, Brazil. Senior Management Ian C. Anthony (aged 41) BSc (Hons), ACA, Chief Financial Officer - a qualifiedchartered accountant, Ian's career in investment banking spans from ParibasCapital Markets to Bankers Trust and most recently Deutsche Bank where he was adirector of balance sheet management in the treasury department. He now runs hisown consultancy, IA Consultants Limited and is director of two privateinvestment companies. Titus Haggan (aged 31) PhD, Exploration Manager (Brazil) - considerableexperience in the exploration sector in Central and South America having workedon and assessed exploration projects in the Caribbean, Brazil, Peru, Argentinaand Chile. Antonio Valerio da Silva (aged 63), BSc, Director of HM Brazil - Antonio is aBrazilian geologist with over 35 years of minerals industry experience. Heworked for five years in the Brazilian Mines Department, followed by 11 yearsworking for consulting companies on projects in the Amazon. He has acted as aconsultant to local mining companies and was founder of Mineracao Vale dos ReisLtda. Further Information Further information on the Company and the securities subject to Admission arecontained in an admission document dated 2 May 2006 (the "Admission Document").Terms defined in the Admission Document have the same meaning in thisannouncement. Copies of this document will be available free of charge to thepublic during normal business hours on any day (Saturdays, Sundays and publicholidays excepted) at the offices of Matheson Ormsby Prentice Solicitors,Pinnacle House, 23-26 St Dunstan's Hill, London EC3R 8HN, United Kingdom fromthe date of this document until at least one month after Admission. * * ENDS * * This information is provided by RNS The company news service from the London Stock Exchange