All operations at the Black Swan/Silver Swan mines ceased in February 2009 and it has remained on care and maintenance ever since. Following a Feasibility Study in 2018 Capital costs for the project were estimated at A$56.7 million. In 2020 Poseidon discovered the Golden Swan deposit. The company planned to incorporate this deposit into the restart of Black Swan and Silver Swan. Horizon Minerals Limited completed its acquisition of Poseidon Nickel Limited in February 2025, following their merger announcement in October 2024. Horizon now plans to repurpose the Black Swan facility for gold processing, moving away from its original nickel focus