- Horizonte Minerals said a pre-feasibility study had confirmed its Vermelho mine had the potential to be a significant low-cost supplier of nickel.

Assuming a flat nickel price of US$16,400 per tonne for the 38-year mine life for Vermelho, the study estimated the mine could generate total cash flows after taxation of US$7.3bn, a return of 26%.

With the pre-feasibility study now completed, the priority now was to 'identify partners, secure funding and advance the project by undertaking a full feasibility study on Vermelho.'

At 9:21am: [LON:HZM] Horizonte Minerals PLC share price was +0.15p at 4.45p

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