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Town’s best to take to the stage in annual concert

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Horizon Minerals raises $16.1 million to accelerate its largest ever gold exploration program

Horizon Minerals Ltd (ASX:HRZ) will use $16 million raised in a heavily oversubscribed placement to complete its largest-ever exploration program in the prolific gold producing region around Kalgoorlie-Boulder in the heart of Western Australia's Goldfields.

The company is highly encouraged by the strong support for the placement after receiving commitments for 115 million shares at 14 cents per share with funds also to be allocated to long-term mine and mill development studies.

Proceeds from the placement and existing cash reserves will be used for the accelerated reserve conversion and resource growth exploration drilling program, which will begin in the current quarter.

“Growing mid-tier production business”[hhmc]
Managing director Jon Price said: “What a great time to be building a West Australian gold company.

“We are committed to growing a sustainable mid-tier gold production business in the heart of the WA Goldfields and the strong support shown for the company by numer..

Horizon Minerals Ltd (ASX:HRZ) will use $16 million raised in a heavily oversubscribed placement to complete its largest-ever exploration program in the prolific gold producing region around Kalgoorlie-Boulder in the heart of Western Australia's Goldfields.

The company is highly encouraged by the strong support for the placement after receiving commitments for 115 million shares at 14 cents per share with funds also to be allocated to long-term mine and mill development studies.

Proceeds from the placement and existing cash reserves will be used for the accelerated reserve conversion and resource growth exploration drilling program, which will begin in the current quarter.

"Growing mid-tier production business”


Managing director Jon Price said: “What a great time to be building a West Australian gold company.

“We are committed to growing a sustainable mid-tier gold production business in the heart of the WA Goldfields and the strong support shown for the company by numerous new, high-quality Australian and international institutions, in addition to our strong existing shareholder base is clear validation of this strategy.

“Upon completion of this capital raising Horizon will be fully funded to complete its largest-ever exploration program, focused on reserve conversion, resource growth and testing new discovery targets with over 70,000 metres of drilling in this prolific gold producing region.”

Overwhelming investor support


The company received overwhelming support from new and existing Australian and international institutional and sophisticated investors and is now set to undertake:

  • The completion of a large-scale 70,000-metre drilling program focused on reserve conversion, resource growth and testing a number of high-priority new discovery targets across the portfolio;
  • Completion of the consolidated feasibility study targeted for the June 2021 quarter;
  • Pursuing further regional consolidation opportunities within a 75-kilometre radius of a proposed standalone processing facility at the Boorara gold mine; and
  • Additional exploration activities across the companys extensive 850 square kilometre landholding.

New discovery drilling will also be conducted Read More – Source

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Australia

Great Boulder Resources extends Blue Poles gold discovery to 600 metres strike length

Great Boulder Resources Ltd (ASX:GBR) has received new assay results from aircore drilling at the Whiteheads Project near Kalgoorlie which have extended the discovery at Blue Poles prospect to more than 600 metres.

First-pass aircore (AC) drilling intersected gold over 600 metres of strike and over 70 metres in width at the southern end of the discovery and mineralisation remains open and untested along strike.

Blue Poles now extends over more than 600 metres on a north-south trend, coincident with a local magnetic high, with the drilling also confirming further end-of-hole mineralisation.

Blue Poles results[hhmc]
The program comprised a total of 69 holes for 3,121 metres of drill advance targeting the Blue Poles, Gindalbie, Whiteheads Dam and Lindsays South prospects.

New results from Blue Poles include:

16 metres at 0.50 g/t gold from 32 metres to end-of-hole (EOH), including 4 metres at 1.13 g/t; and
17 metres at 0.42 g/t from 32 metres to EOH.

To put the grades into context, ..

Great Boulder Resources Ltd (ASX:GBR) has received new assay results from aircore drilling at the Whiteheads Project near Kalgoorlie which have extended the discovery at Blue Poles prospect to more than 600 metres.

First-pass aircore (AC) drilling intersected gold over 600 metres of strike and over 70 metres in width at the southern end of the discovery and mineralisation remains open and untested along strike.

Blue Poles now extends over more than 600 metres on a north-south trend, coincident with a local magnetic high, with the drilling also confirming further end-of-hole mineralisation.

Blue Poles results


The program comprised a total of 69 holes for 3,121 metres of drill advance targeting the Blue Poles, Gindalbie, Whiteheads Dam and Lindsays South prospects.

New results from Blue Poles include:

  • 16 metres at 0.50 g/t gold from 32 metres to end-of-hole (EOH), including 4 metres at 1.13 g/t; and
  • 17 metres at 0.42 g/t from 32 metres to EOH.

To put the grades into context, AC drilling is looking for gold anomalism from surface to the top of fresh rock and any anomalous gold at the end of the hole, which is the fresh rock interface, is positive as it represents primary gold below the supergene horizon.

“Extremely positive results”


Great Boulder managing director Andrew Paterson said: “Blue Poles is looking extremely positive at this early stage.

“To have gold grades above 400 parts per billion and up to 2 g/t over a 600 metres strike length is hugely exciting.

“And with the prospect broadening to over 70 metres wide at the western end of the last fence of holes, we dont yet know how big its going to be."

Open at both ends


The mineralised zone remains open along strike at both ends and also laterally to the west on the southern-most line with additional fences of AC drilling planned to confirm the total extent of this anomaly.

The smaller programs at Whiteheads Dam, Gindalbie and Lindsays South returned anomalous intersections, wiRead More – Source

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Australia

Southern Cannabis CEO expects rapid growth for Australias medicinal cannabis market

Southern Cannabis Holdings director and chief executive officer Tim Drury provided a positive outlook for the medicinal cannabis market in Australia during this week's Proactive medical cannabis virtual investor conference.

The companys market intelligence business FreshLeaf collects around a million data points from products, to pricing, to patients and expects Australias pharmaceutical market to be worth close to $2 billion, once fully addressed.

Drury said: “Were still rapidly growing, the growth rate in Australia right now is about close to 10% month-on-month.

“Having said that, less than 5% of the addressable market has been addressed at this point so theres a huge amount of upside.”

Revenues to double[hhmc]
In the next 6-12 months for Australia, FreshLeaf expects revenues to double but pricing spend per patient, which is currently at around $400 per month, to decline.

Drury said: “We think that over the next couple of years the revenue per patient will decline, as there..

Southern Cannabis Holdings director and chief executive officer Tim Drury provided a positive outlook for the medicinal cannabis market in Australia during this week's Proactive medical cannabis virtual investor conference.

The companys market intelligence business FreshLeaf collects around a million data points from products, to pricing, to patients and expects Australias pharmaceutical market to be worth close to $2 billion, once fully addressed.

Drury said: “Were still rapidly growing, the growth rate in Australia right now is about close to 10% month-on-month.

“Having said that, less than 5% of the addressable market has been addressed at this point so theres a huge amount of upside.”

Revenues to double


In the next 6-12 months for Australia, FreshLeaf expects revenues to double but pricing spend per patient, which is currently at around $400 per month, to decline.

Drury said: “We think that over the next couple of years the revenue per patient will decline, as theres quite heavy downward pressure from a pricing perspective at the moment on products, so we do expect that average spend will decline.

“However, the rate of growth is going to outpace that substantially.

“We think the revenues will probably double in that period.”

25,000 active patients


FreshLeaf anticipates that in about two years, the market will have tripled in terms of patient numbers and product volumes.

By the end of this year, there will be 25,000 active patients in the market who will consume more than 500 kilograms of cannabinoids.

Drury said: “That translates to close to $80 million of product revenues here in Australia this year.

“So if youre looking at any claims of market share or any sales numbers that come out of the listed companies, you can look at their sales this year and get a bit of an idea of what their market share might be based on this.”

The company expects that Australia will have 750,000 active patients in the market by the middle of 2022, and potentially around 100,000 by the end of that year.

The FreshLeaf Analytics Q3 Report will be available next month.

150 products legally available


As of last week, there are more than 150 products legally available in the Australian market for doctors to prescribe, up from 100 at the start of the year.

More than 95% of the products are imported and around 2,000 doctors (out of close to 100,000 registered doctors and practitioners) have prescribed them so far.

Drury said that most patients using medicinal cannabis (around 75%) have chronic or cancer-related pain.

He said: “The next largest segment is anxiety and stress, and that segment is rising quite substantially at the moment – given whats going on in the world.”

Over the counter CBD


FreshLeaf expects registered medicines (backed by random control trial data that is registered with the regulator) to enter the market in the near term.

The company also believes that CBD (one of the active ingredients in medicinal cannabis) is likely to become an over the counter drug which no longer requires a prescription from the doctor.

Drury said: “The government has announced their intention to do this and we expect that from around next year companies will be able to register their CBD products.

“We thRead More – Source

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