Horizonte Minerals Plc in Q3 entered into a royalty agreement with Orion Mine Finance

  • Nov 13, 2019 GMT
  • Team Kalkine
  • Horizonte Minerals Plc (HZM) has released its unaudited financial results for the three-month period to 30 September 2019.
  • During the reported period the company entered into a royalty agreement with Orion Mine Finance to provide $25 million upfront cash payment to advance Araguaia in exchange for a 2.25 per cent royalty.
  • The company also reported that in the Measured and Indicated category, the Serra do Tapa Mineral Resources has 70.3 million tonnes grading of 1.22 per cent nickel and at 0.9 per cent nickel cut off.
  • The Company's 100 per cent owned aggregate Mineral Resource inventory reported a 30 per cent increase in tonnage with the addition of the Serra do Tapa deposit.

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