- The feasibility study on Horizonte Minerals' Araguaia nickel project in Brazil is progressing on schedule and is over 60% complete.

Chief executive Jeremy Martin said the study remained on schedule to be completed on budget around the end of the year with targeted publishing in early 2018. He said: "The next major milestone and de-risking step for the Project will be the award of the installation licence, which allows construction to start.

"We are now in a position to submit all the documentation for the installation licence to the environmental agency in Q3 2017 with a view to the award of the licence in Q1 2018.

"There has been a steady increase in the nickel price over the last eight weeks with prices now over US$11,000 per tonne, this aligned with our project milestones over the next 12 months should see increased interest in the Company as we advance the project through to the construction stage."

At 8:49am: [LON:HZM] Horizonte Minerals PLC share price was 0p at 2.73p

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