
Horizon Gold DFS maps pathway to first gold at Gum Creek in 2028
Proactive Investors - Finance
Published: Jul 22, 2026, 06:40 PM GMT+9
Sentiment Analysis
Horizon Gold Ltd ( ASX:HRN, OTC:HZGLF ) has confirmed a financially robust development pathway for its 100%-owned Gum Creek Gold P roject in Western Australia, with a definitive feasibility study targeting first production in the second half of 2028. The open-pit study outlines average production of 98,000 ounces of gold per annum during the first five years and total recovered production of 880,000 ounces across an initial 10-year mine life. Based on a gold price of A$5,500 per ounce, Gum Creek is forecast to generate A$1.85 billion in pre-tax free cash flow, a pre-tax net present value of A$1.31 billion and an internal rate of return of 53.1%. Pre-production capital is estimated at A$350 million, including mine development, a new processing plant, supporting infrastructure and contingency. The project has an estimated all-in sustaining cost of A$2,995 per ounce and a 23-month payback period from first production.
Horizon’s board has endorsed the DFS and approved Gum Creek’s progression into the execution phase, targeting a final investment decision in the second quarter of 2027. Planned work includes completing the approvals pathway, progressing detailed engineering, engaging engineering, procurement and construction contractors, appointing key members of the owner’s team and advancing major equipment and supply tenders. Plant construction is expected to begin in the fourth quarter of 2027, subject to finan...
Source: Proactive Investors - Finance
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