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Horizon Gold Ltd

www: horizongold.com.au   email: info@horizongold.com.au
Category: Junior: Late Stage Developer
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Symbol Data

Symbol Currency
ASX:HRN AUD

Description

Horizon Gold Ltd are a gold focused junior, late stage development company with one mine in development in Australia. They have approximately 1.35Moz. of gold in the reserves and resources category of which 0.85Moz. are in the measured and indicated category. They have a market capitalisation of ~A$9.85M which is a fall of roughly 46% over the last seven months. As of 09/12/2019 they have no debt and ~A$1.1M cash. They have 77M shares outstanding and trade on the Australian Stock Exchange.

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General Details

Financial 09/12/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $18.17M $9.85M 09/12/2019 $-8.31M
Total Assets: $12.39M $11.04M 09/12/2019 $-1.35M
Total Liabilities: $0.69M $0.61M 09/12/2019 $-0.07M
Current Assets: $1.38M $1.23M 09/12/2019 $-0.15M
Current Liabilities: $0.69M $0.61M 09/12/2019 $-0.07M
Total Debt: $0.00M $0.00M 09/12/2019 $0.00M
Cash: $1.24M $1.10M 09/12/2019 $-0.13M
Enterprise Value: $16.93M $8.75M 04/12/1970 $-8.18M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 09/12/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 09/12/2019 0.00%
Misc 09/12/2019
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 76,531,000 76,531,000 09/12/2019 0
Shares (FD): 76,531,000 76,531,000 09/12/2019 0
Insider Ownership: n/a 70% 01/25/2020 70%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2021 09/12/2019 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
0		 09/12/2019 0
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
0		 09/12/2019 0
Initial CapEx (Outstanding): n/a n/a 09/12/2019 n/a
Funding Option: n/a n/a 09/12/2019 n/a
Documentation: none PFS 01/25/2020 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 09/12/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 09/12/2019 0.00M
Measured & Indicated: 0.85M 0.85M 09/12/2019 0.00M
Inferred: 0.50M 0.50M 09/12/2019 0.00M
Reserves & Resources: 1.35M 1.35M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/12/2019 0.00M
Measured & Indicated: 0.61M 0.61M 09/12/2019 0.00M
Inferred: 0.23M 0.23M 09/12/2019 0.00M
Reserves & Resources: 0.84M 0.84M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 09/12/2019 $0.00
Extra Operating Cost: n/a n/a 09/12/2019 $0.00
Average Grade: 2.00 g/t 2.00 g/t 09/12/2019 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 01/25/2020 0.00%
F
U
T
U
R
E		 Proven & Probable: 0.80M 0.80M 09/12/2019 0.00M
Annual Production: 50,000oz. 50,000oz. 09/12/2019 0oz.
Cash Cost: $800 $800 09/12/2019 $0
Extra Operating Cost: $400 $400 09/12/2019 $0
SILVER 09/12/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 09/12/2019 0.00M
Measured & Indicated: n/a n/a 09/12/2019 0.00M
Inferred: n/a n/a 09/12/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/12/2019 0.00M
Measured & Indicated: n/a n/a 09/12/2019 0.00M
Inferred: n/a n/a 09/12/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 09/12/2019 $0.00
Extra Operating Cost: n/a n/a 09/12/2019 $0.00
Average Grade: n/a n/a 09/12/2019 n/a
Recovery Rate: n/a n/a 09/12/2019 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 09/12/2019 0.00M
Annual Production: n/a n/a 09/12/2019 n/a
Cash Cost: n/a n/a 09/12/2019 n/a
Extra Operating Cost: n/a n/a 09/12/2019 n/a

Property

Last Analysis Data  (09/12/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Australia, Australia Gum Creek 100% (guess) 72,000 Open Pit show
OP: 400,000 oz at 7 gpt
OP: 400,000 oz at 1 gpt
UG: 500,000 oz at 7 gpt

Past producing mine.

Updating feasibility study.

Large property: 48 targets.
Total Land Package Size (ha): 72,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development Australia, Australia Gum Creek 100% (guess) 72,000 Open Pit show
OP: 400,000 oz at 7 gpt
OP: 400,000 oz at 1 gpt
UG: 500,000 oz at 7 gpt

Past producing mine.

Updating feasibility study.

Large property: 48 targets.
Total Land Package Size (ha): 72,000  

Profitability (by resource)

Proven &
Probable		 09/12/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD Mkt. Cap / Gold Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Silver Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
Measured &
Indicated		 09/12/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.85M 0.85M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 26.53M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.61M 0.61M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 19.10M
Maximum Profit (Gold): $127.71M $162.45M n/a $34.74M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $127.71M $162.45M n/a $34.74M
Max Profit / Current MCap: 7.030 16.487 n/a 9.457
Max Profit Per Share (Gold): $1.67 $2.12 n/a $0.45
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.67 $2.12 n/a $0.45
Total Free Profit Per Share: $1.32 $1.91 n/a $0.59
FD Mkt. Cap / Gold Eq.: $29.68 $16.10 n/a $-13.58
FD Mkt. Cap / Silver Eq.: $0.36 $0.14 n/a $-0.22
FD Mkt. Cap / Per Metal
as % Spot Price:		 1.98% 1.02% n/a -0.96%

Reserves &
Resources		 09/12/2019
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.35M 1.35M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 42.13M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 0.84M 0.84M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 26.12M
Maximum Profit (Gold): $174.66M $222.17M n/a $47.52M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $174.66M $222.17M n/a $47.52M
Max Profit / Current MCap: 9.614 22.548 n/a 12.934
Max Profit Per Share (Gold): $2.28 $2.90 n/a $0.62
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.28 $2.90 n/a $0.62
Total Free Profit Per Share: $1.94 $2.69 n/a $0.76
FD Mkt. Cap / Gold Eq.: $21.70 $11.77 n/a $-9.93
FD Mkt. Cap / Silver Eq.: $0.26 $0.10 n/a $-0.16
FD Mkt. Cap / Per Metal
as % Spot Price:		 1.45% 0.75% n/a -0.70%

Future Valuation (Cash Flow & Totals)

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