Horizon Minerals has announced that its wholly owned unit, Poseidon Nickel, has signed a binding heads of agreement (HoA) to sell the Lake Johnston project to Forrestania Resources. The deal values the 100%-owned asset at $22.93m in total consideration. The transaction is structured with $30m in cash and $5m in Forrestania fully paid ordinary shares, with completion subject to various conditions. Horizon managing director and CEO Grant Haywood said: “Lake Johnston was acquired through the ~$30m merger w ...