Horizon becomes Maritana as Black Swan strategy gathers pace

Australian Mining

Horizon Minerals Limited has officially changed its name to Maritana Minerals Limited, following shareholder approval at an extraordinary general meeting on April 7.

The rebrand also includes a change to the company’s Australian Securities Exchange (ASX) ticker from HRZ to MRT, effective from April 13, while its Australian Business Number, registered office, and principal place of business remain unchanged.

The transition marks a key step in the company’s evolution as it advances toward becoming a standalone gold producer in Western Australia’s Goldfields.

Maritana has recently strengthened its financial position, raising $175 million through an institutional placement and a further $10 million via a share purchase plan to support development of its Black Swan processing hub near Kalgoorlie.

The Black Swan project is central to the company’s growth strategy, with plans to refurbish the existing processing infrastructure into a gold production hub capable of treating ore from multiple nearby deposits. Studies have outlined a potential throughput of up to 2.2 million tonnes per annum, underpinning a production profile of around 100,000 ounces per year.

Maritana has already begun positioning feed sources for the hub, including stockpiled ore from its Boorara project, while ongoing mining campaigns such as Phillips Find have contributed additional cash flow and operational momentum.

Managing director and chief executive officer Grant Haywood previously said the capital raise and operational progress have placed the company in a strong position to unlock value from its broader portfolio and capitalise on constrained processing capacity in the Kalgoorlie region.

“We are delighted with the support for this transformational placement and welcome a number of new, highly credentialled Australian and offshore institutional investors to the register,” he said.

“The capital raising represents an important juncture for the company as we are now positioned to fund the development of the Black Swan processing hub and create a strategically valuable regional gold processing facility to create value for shareholders from our 1.9-million-ounce resource.”

With funding secured and early works progressing, the company is targeting construction activities through 2026 and commissioning of the Black Swan plant by mid-2027.

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