Horizon Minerals Signs sale agreement with RVT ahead of Richmond IPO
- Horizon Minerals (HRZ) executes a sale and purchase agreement with RVT ahead of the spin-out of the Richmond vanadium project in Queensland
- The sale of Horizon’s 25 per cent stake in the project consolidates ownership under a dedicated vehicle, RVT, which will then be listed on the ASX
- Completion of the sale is expected to occur in the current quarter, with RVT anticipated to finalise its listing in September or October
- The arrangement was initially put forward in November last year, with a view to devoting the necessary “technical, human and financial resources that the project deserves”
- Shares in Horizon Minerals are down 3.7 per cent to $0.13 as of 1:09 pm AEST
