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Horizonte Minerals Receives US$25 Million Royalty Funding
Oct. 22, 2019 12:39PM PST
Base Metals Investing Horizonte Minerals announced the completion of the US$25 million royalty transaction with Orion Mine Finance.
Horizonte Minerals (AIM:HZM,TSX:HZM) announced the completion of the US$25 million royalty transaction with Orion Mine Finance announced on 29 August 2019, and the subsequent drawdown of the funds.
As quoted from the press release:
Orion has provided the upfront cash payment of US$25 million in exchange for a 2.25% royalty on Araguaia. This capital will provide funding to advance pre-construction work streams for Araguaia.