Horizon Minerals Limited: Vox Royalty $3M Payment Update
Perth, Australia - Horizon Minerals Ltd. (ASX:HRZ) ("Horizon" or "the Company") wish to provide further information on the deferred payment of $3 million in cash or shares from Vox Royalty Corp. ("Vox").We can now update the market that Vox has advised their option and intention to issue shares instead of cash for the deferred payment.
Further that the shares once issued are subject to a four month escrow period and that the shares will be issued within 10 days of Vox receiving cumulative payments of A$750,000 from the transaction royalties.
At the time of reporting Vox had as yet not received the royalty payment, however, this is still within the terms of the agreement.
About Horizon Minerals Limited:
Horizon Minerals Ltd. (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
Source:
Horizon Minerals Ltd.
Contact:
Grant Haywood Chief Executive Officer T: +61 8 9386 9534 E: grant.haywood@horizonminerals.com.au Michael Vaughan Media Relations - Fivemark Partners T: +61 422 602 720 E: michael.vaughan@fivemark.com.au