Horizonte Minerals Plc, (AIM: HZM) has entered into a royalty agreement with Orion Mine Finance, the largest of the mining finance groups in the marketplace, to provide funding to advance its Araguaia ferro-nickel Project. As per the agreement the company will provide an upfront cash payment of US$25 million in exchange for a 2.25% royalty on the Araguaia Project. The royalty only covers the first 426,429 tonnes of embedded nickel within the final product which happens to be ferronickel.
On 29th August 2019, at the time of writing, GMT 08:13 AM, HZM shares were trading at GBX 5.00, up by 1.62 points or 48.15% against the previous day closing price.
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