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The Company received the 948,448 Vox common shares which were issued on 24 November 2023 in the name of Horizon Minerals Limited and held in escrow for 4 months.
Following the release from escrow the block of Vox shares were sold on market via the NASDAQ and TSX exchange for an average price of US$2.077 which has returned gross proceeds of A$$2,927,918 (US$1,913,101 @ 0.6534) before broker commission and US/Canada withholding tax for foreign source income (currently held in USD).
Horizon has again strengthened its balance sheet over the past year and now has a cash and investments position of $12.3 million which will support the Company objectives to move into production.
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.
Source:
Horizon Minerals Limited
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
