Pinned straw:
@Bear77 , I noticed the SP dropped a bit today after that announcement. Looking at the 'Next Steps' below:
Do you reckon that the 'construction could commence during 2026' was not as positive as people had expected?
I watched the RAAS interview with Grant Haywood and the vibe was much more bullish, with people lining up to use the mill etc.
Thoughts?
Yeah, that's a fair comment @tomsmithidg but on the flipside most goldies were down today with only 4 rising by more than 2% (GSM, OZM, KAU and PNR) but 20 up them ended the day with share prices that dropped by more than 2%.
So Horizon wasn't Robinson Crusoe - they had plenty of company.
Interesting that I hold 4 of the worst 6 in that list (TCG down to BGL) - but swings and roundabouts - my SMSF hit a new all time high yesterday - you can't win them all, not every day anyway. And 8 out of the 10 positions in my SMSF are all ASX300 gold producers, plus ARB and NWH. So I don't mind days like today when most other days are way more positive across the sector.
Sorry that's 19, not 20 that were down by more than 2% today coz I've managed to include GGP twice.
But, yeah, nah, the wording wasn't overly bullish in terms of the timeline, I would have preferred something stronger, but when you haven't made a FID on the project yet and it's still only at the PFS stage, you have to be careful with forward looking statements, so they probably said what they thought they could get away with. I think there's every chance they'll get into it at some stage in calendar 2026 but there are no guarantees.
But I think you've probably nailed why HRZ were one of the worst performers in the sector today @jcmleng.
The positives with HRZ are that they will have income from toll-treatment of their ore by other companies' gold mills plus further drilling results newsflow to keep us interested while they progress Black Swan towards being a producing gold mill at some point in FY27 or FY28 (my best guess FWIW).