Horizon Gold Advances Gum Creek Toward Development Following Strong June Quarter DFS
Horizon Gold Ltd has advanced its 100%-owned Gum Creek Gold Project toward development after completing a definitive feasibility study (DFS) in the June quarter. The DFS outlines a potential 10-year operation producing up to 880,000 ounces of gold with first production expected by mid-2028. Based on an A$5,500 per ounce gold price assumption, the project is projected to generate significant pre-tax free cash flow and net present value. The DFS outlines a capital expenditure budget of A$350 million for mine development, including construction of a 2.4-million-tonne-per-annum processing plant. The company also reported strong exploration results from multiple prospects at Gum Creek, with high-grade gold intercepts extending mineralization and supporting further resource growth potential. Horizon Gold is now progressing detailed engineering work ahead of expected project approvals by mid-2027, aiming for a final investment decision in the second quarter. The company remains focused on securing financing options to support construction, which could begin as early as late 2027.
Topics: definitive feasibility study (DFS) gold mining Gum Creek Gold Project