Horizon Minerals’ campaign to lay claim to Poseidon Nickel is almost complete, which will see the company rebrand as ‘Horizon 2.0’.
The Supreme Court of Western Australia approved the acquisition late last week, paving the way for Horizon to take control of Poseidon by February 19.
The merged entity will consolidate 1.8 million ounces of gold, launching Horizon as WA’s newest gold producer.
Poseidon’s current chief executive officer Brendan Shalders will remain on board as a consultant for at least three months post-merger as the new company takes steps to increase production across its operations.
Production is soon set to commence at Horizon’s Phillips Find mine in WA, with the company aiming for consistent gold production over the next 12 months.
Horizon has plans to fund studies at Poseidon’s Black Swan, which exploration and growth at the tops of its priorities list in the form of refurbishment and a gold circuit expansion and conversion study.
As its name suggests, Poseidon has largely been a nickel sulphide exploration and development company with three projects in the Goldfields region of WA.
The projects collectively claim a resource base of around 420,000 tonnes of nickel and 180,000 ounces of gold.
Black Swan is Poseidon’s most well-known project, which is a historical site that initially produced from 1997–2008.
Poseidon has been progressing a restart at Black Swan for some time, declaring in November 2024 that it was showing promise for extensive gold mineralisation.
Horizon has said only five per cent of drill assays have been tested for gold despite multiple gold nuggets being found.
The Black Swan processing facility is central to Horizon’s takeover plans, which will process over 2.2 million tonnes of ore per year once operational.
Horizon recently poured first gold from its Boorara gold project, located just 10km from the Kalgoorlie Super Pit, as well as the Burbanks deposit 9km south east of Coolgardie.
Together, Horizon and Poseidon will cover 1309km2 of strategic WA landholding, with Horizon 2.0 aiming for first gold production at Black Swan by the end of 2026.
