Horizon Minerals (ASX:HRZ) poured its first gold bar from the Boorara gold project in Western Australia under an ore sale agreement with Paddington Mill, according to a Wednesday Australian bourse filing.
The firm said the first stockpile of 56,654 wet metric tonnes at 0.8 grams per tonne of gold was accepted by Norton Gold Fields' Paddington Mill in early December 2024. Ongoing haulage has continued through to January.
It added that mining continues at Boorara pits two and four, building the next stockpile for haulage.
Chief Executive Grant Haywood said the company will seek to use this production pipeline to feed a refurbished Black Swan mill after completing its proposed merger with Poseidon Nickel (ASX:POS) with the cashflow it expects to generate from Boorara and other advanced projects.
Horizon Minerals' shares fell past 2% in recent Wednesday trade, while Poseidon Nickel's shares tumbled 20%.
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