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Horizon Minerals Sign Agreement with Northern Star Resources

Mining News - Published on Tue, 17 Sep 2019

Image Source: smallcaps.com.au
Horizon Minerals Limited announced that it has reached agreement with Northern Star Resources Limited to a tenement exchange in the WA Goldfields for nil cash consideration. The transaction would see Horizon divest its 100% interest in the Anthill, Blister Dam, New Mexico, White Flag and Kanowna North tenements and acquire 100% interest in Northern Star's Rosehill, Brilliant North and Gunga West projects in Coolgardie and the Golden Ridge, Balagundi, Abattoir and Mt Monger projects in Kalgoorlie.

Mr Jon Price MD of Horizo said that "This is a sensible transaction between Horizon and Northern Star that place assets within each company's areas of interest. For Horizon, it adds contiguous tenure to the Boorara Gold Project area in Kalgoorlie and additional strategic assets in Coolgardie including the Rose Hill - Brilliant North tenements which give us the ability to unlock the full value of the Coolgardie Gold Project as we continue to progress formal binding documentation and required approvals for the potential acquisition."

The tenement exchange agreement is expected to complete in the December Quarter 2019 and contains conditions precedent, warranties and representations and other clauses that are standard for transactions of this nature including provision of signed transfers, all mining information and any statutory consents required.

Source :

Posted By : Rabi Wangkhem on Tue, 17 Sep 2019
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