Acquisition Remaining 50% of Penny's Find Project Completed
Perth, Aug 30, 2022 AEST (ABN Newswire) - Horizon Minerals Limited (
ASX:HRZ) is pleased to advise that the acquisition of the remaining 50% interest in the Penny's Find gold project which was announced on 20 December 2021 has now been completed. Horizon now owns 100% of the Penny's Find gold project and associated tenements.
The Completion had been delayed due to some legacy access and compensation agreements which needed to be brought up to date.
All conditions precedent including provision of signed transfers, all mining information and statutory consents and the payment of the consideration in cash and shares to Labyrinth Resources Limited has now been completed.
For more information on the acquisition, we refer you to the ASX announcement "Horizon moves to 100% ownership of the high-grade Penny's Find Gold Project dated 21 December 2021 on the Company's website.
About Horizon Minerals Limited
Horizon Minerals Limited (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.
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