Horizon Gold DFS Confirms Pathway to First Gold at Gum Creek in 2028
Horizon Gold Ltd (ASX:HRN) has released a definitive feasibility study (DFS) for its 100%-owned Gum Creek Gold Project in Western Australia, targeting first production in the second half of 2028. The open-pit study outlines average annual production of 98,000 ounces of gold over the first five years, with 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, the project is forecast to generate A$1.85 billion in pre-tax free cash flow, with 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, with an all-in sustaining cost of A$2,995 per ounce and a 23-month payback period. The board has endorsed the DFS and approved progression into the execution phase, targeting a final investment decision in Q2 2027. Plant construction is expected to begin in Q4 2027, subject to financing and environmental approvals.
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