Horizon Gold DFS: Eyes 2028 production at Gum Creek

Horizon Gold's Gum Creek DFS shows A$1.3bn NPV and 50% IRR, targeting first gold in H2 2028.

• DFS economics: Gum Creek's DFS shows an NPV of ~A$1.3 billion and ~50% IRR at an assumed A$5,500/oz gold price, with AISC under A$3,000/oz.
• Production profile: Initial 10-year mine life averaging ~100,000 oz/year (higher in first five years) from a 2.4Mtpa CIL circuit, open-pit and free-milling ore first.

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