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Anglo Pacific Group plc signs a Memorandum of Understanding with Horizonte Minerals plc for an option to acquire a royalty on t

^{Published on 2010-07-27 08:50:30 - Market Wire}
 

 - Maturity date - six years from the date of signature of legally binding documentation. - Call terms - can be exercised by Anglo Pacific following notice given by Horizonte upon delivery of a JORC or NI 43-101 compliant pre-feasibility study on the Araguaia Project that confirms the project's economic viability. - Exercise period - the earlier of 120 days from receipt of the pre- feasibility study, or the maturity date. - Exercise payment - US$13 million from Anglo Pacific to Horizonte, less the US$500,000 as noted above. 

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