Vox Shares Sold $2.93M Gross Proceeds
Perth, April 29, 2024 AEST (ABN Newswire) - Horizon Minerals Limited (
ASX:HRZ) is pleased to advise further information on the Company's listed investments of 948,448 shares from Vox Royalty Corp. ("Vox").
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.
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