Statement re. Suspension

RNS Number : 3940P

Horizonte Minerals PLC

15 July 2010

 



Horizonte Minerals plc / Index: AIM / Epic: HZM / Sector: Mining

15 July 2010

Horizonte Minerals plc ('Horizonte' or 'the Company')

Statement re Suspension

Further to press speculation this morning, the Directors of Horizonte Minerals plc, the AIM quoted exploration and development company focused on Brazil and Peru, announce that they are in advanced discussions in relation to an acquisition which would constitute a reverse takeover under the AIM Rules for Companies.  As a result, the shares in the Company have been suspended pending the publication of the admission document.

Further details will be released when appropriate.  

* * ENDS * *

For further information visit www.horizonteminerals.com or contact:

Jeremy Martin	Horizonte Minerals plc	Tel: [phone]
David Hall	Horizonte Minerals plc	Tel: [phone]
Richard Baty	Westhouse Securities Limited	Tel: [phone]
Martin Davison	Westhouse Securities Limited	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Felicity Edwards	St Brides Media & Finance Ltd	Tel: [phone]

Notes:

Horizonte Minerals plc is an AIM quoted exploration and development company with a portfolio of gold, silver and base metal projects in producing mineral districts in Brazil and Peru.  The Company is focused on creating value by generating and rapidly advancing new exploration projects to joint venture out to the major mining companies, providing mid-term cash flow which is then used to develop the business and pipeline projects.

Horizonte has four strategic partnerships: AngloGold Ashanti Limited, Troy Resources NL, LGA and Barrick Gold Corporation, which the Company is working together with to develop its multi commodity portfolio and explore further development opportunities in Brazil and Peru. 

Horizonte has a generative pipeline of early stage projects in development and has established a 50:50 joint venture company with LGA Mineração e Siderugia Ltda to finance the development of the Crixás, Goiás Velho, Carajás Norte, Lobo and the Araguari, and Itajobi pipeline projects, and identify and acquire suitable bolt-on mineral projects in Brazil.  Furthermore Horizonte has signed a US$5.3 million three year joint venture in September 2009 with AngloGold to focus on target generation and potential acquisitions of gold projects in Brazil.

Additionally, the Company has two primary projects situated in the Carajas Mineral Province of northern Brazil being advanced towards a resource definition; the 22,556 hectare Lontra nickel project situated in the Araguaia mobile belt and the Tangara gold, which the Company signed a US$2.8 million option agreement to advance the project with Troy Resources in December 2007.  Horizonte is also developing in tandem with Barrick Gold Corporation, the 2,147 hectare Pararapa gold property located in the Department of Arequipa, southern Peru.

 

END

 

 

SRSKKPDBFBKKPOD