Horizon Minerals (ASX:HRZ) is progressing its strategy to become a mid-tier gold producer by awarding GR Engineering Services (ASX:GNG) with an engineering studies work program. The goal is to refurbish and repurpose the Black Swan processing plant, acquired through a merger with Poseidon Nickel, for gold production. The Black Swan infrastructure, located in the Kalgoorlie-Coolgardie districts of Western Australia, is a key asset in Horizon’s plan to reach an annual production of 100,000 ounces of gold.
The engineering studies, overseen by Horizon’s project manager Dirk Richards, will provide capital and operating cost estimates with an accuracy exceeding 20%. CEO Grant Haywood emphasized GR Engineering’s competence in delivering a high-quality study for the Black Swan refurbishment. GR Engineering Services brings extensive experience in gold processing plants within the Western Australian goldfields. Horizon Minerals, with a market capitalization of $111.29 million, views the Black Swan plant as critical to enhancing its future processing capabilities and achieving its production targets.
