Just had a look at the document:
75% ASX-listed (HRZ).
25% Richmond Vanadium Technology Pty Ltd – a private unlisted company.
In September 2017, Horizon entered into a joint venture agreement with
Richmond Vanadium Technology (RVT) over the Richmond–Julia Creek
Vanadium Project. Under the joint venture, RVT has earned a 25% interest
in the project which can be increased to 75% by funding A$5m expenditure
and completing a pre-feasibility study on the project within three years to
September 2021.
RVT completed a pre-feasibility study in May 2020.
It would be interesting to see the details in the contract, are the commitments just for the PFS by September 2021? if so its done. But if there are added commitments which are not made by September 2021, do RVT still get 75%?
Huge Silver Exposure, page-63
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