Horizon Minerals Limited: Annual Report 2023
In addition, the Company along with joint venture partners Richmond Vanadium Technology (ASX:RVT) successfully transitioned the JV to a publicly listed company through a successful IPO and listed RVT on the ASX in December 2022, with Horizon shareholders receiving shares in RVT via an in-specie distribution, and Horizon maintaining a 9% shareholding in RVT.
The Company also acquired the remaining 50% interest in the Penny's Find gold project from JV partner Labyrinth Resources Ltd. (ASX:LRL) and now owns the project 100%. The Company also divested its Kangaroo Hills and Phoenix tenements to Greenstone Resources Limited (ASX:GSR) for $300,000 in cash and shares.
Horizon also advanced its Cannon project by securing a US$5m loan from Nebari Partners to pay the deferred consideration for the project and to fund its development, with all necessary statutory approvals also secured for the project.
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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.
Horizon Minerals Ltd.
Grant Haywood Chief Executive Officer T: +61 8 9386 9534 E: email@example.com Michael Vaughan Media Relations - Fivemark Partners T: +61 422 602 720 E: firstname.lastname@example.org