Extension of Exclusivity Deed
Perth, Oct 9, 2019 AEST (ABN Newswire) - As announced to the ASX on 11 February 2019, Horizon Minerals Limited (ASX:HRZ) (Horizon) is a party to an Exclusivity Deed with Focus Minerals Limited (ASX:FML) (Focus) relating to the potential acquisition by Horizon of Focus' Coolgardie Gold Project (including the Three Mile Hill processing plant).
Horizon and Focus have agreed to extend the exclusivity period under the Exclusivity Deed until 18 October 2019. The terms of the Exclusivity Deed otherwise remain the same in all material respects as those previously announced by Horizon to the ASX on 11 February 2019, 2 July 2019 and 6 September 2019.
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.