Investor Presentaiton
Araguaia Nickel Project - PFS Results
NPV8
IRR
Initial mine life
Capital Costs (Pre-Production)
Cash costs Cl
Net cash flow over LOM
Base Case
900ktpa
Single line*
US$519m
20%
25 years
US$582m
Larger Scale Option
2.7Mtpa
Twin line
US$ 1,204m
21%
22 years(¹)
US$1,436m
US$4.16/lb
(US$9,166/t)
Payback period (after taxation)
US$1,766m
4.4 years
US$4.25/lb(¹)
(US$9,380/t)(1)
US$3,470m
3.9 years
Targeted production per annum
Average Ni grade – years 1 to 10
Product grade quality
15,000tpa Ni in Fe-Ni
40,000tpa Ni in Fe-Ni
1.57% Ni(¹)
20% Fe-Ni(¹)
*Nickel price used for PFS calculations - US$19,000/t
*Base Case is Horizonte's preferred development route to maximise
financial returns whilst minimising technical and capital risks
1.76% Ni(¹)
20% Fe-Ni(¹)
HORIZONTE
MINERALS
Developing the next major nickel project in Brazil: AIM/TSX HZM
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