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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Horizon Minerals Limited    HRZ   AU0000053373

HORIZON MINERALS LIMITED

(HRZ)
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HORIZON MINERALS : DIVESTMENT OF ROYALTIES COMPLETED

04/08/2021 | 08:19am EDT

Horizon Minerals Limited (ASX: HRZ) ('Horizon' or 'the Company') is pleased to advise that the divestment of its interest in two gold royalties has been completed.

As announced to the ASX on 29 March 2021, the Company agreed to divest 100% interest in the royalties to Vox Royalty Corp. (TSX: VOX) ('Vox').

Under the Agreement, Vox will pay A$7 million in cash and shares on the following terms: A$4 million in cash upon completion and A$3 million in cash or Vox shares at Vox's election (priced on a 30-day VWAP basis) upon Vox receiving cumulative payments of A$750,000 from the transaction royalties.

All conditions precedent including third party documentation have now been completed and the A$4 million initial consideration payment received. Proceeds from the royalty divestments will add to existing cash reserves as the Company advances the consolidated Feasibility Study through to a development and financing decision in the second half of 2021.

Cash at bank now stands at A$13.2 million plus listed investments totalling approximately A$5.2 million

Contact:

Jon Price

Tel: +61 8 9386 9534

Email: jon.price@horizonminerals.com.au

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HORIZON MINERALS LIMITED 0.00% 0.11 End-of-day quote.0.00%
VOX ROYALTY CORP. -0.88% 2.25 End-of-day quote.-25.00%
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Financials
Sales 2020 - - -
Net income 2020 1,04 M 0,80 M 0,80 M
Net cash 2020 1,50 M 1,14 M 1,14 M
P/E ratio 2020 45,9x
Yield 2020 -
Capitalization 68,2 M 52,0 M 51,9 M
EV / Sales 2019 148x
EV / Sales 2020 -
Nbr of Employees -
Free-Float 73,7%
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Managers and Directors
NameTitle
Jonathan Paul Price Managing Director & Director
Julian Simon Maheson Tambyrajah Chief Financial Officer & Secretary
Ashok Aaron Parekh Non-Executive Chairman
Grant Haywood Chief Operating Officer
Peter Ross Bilbe Independent Non-Executive Director
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