Horizon Minerals (ASX: HRZ)
Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.
Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025.
.
.
.
| Horizon Minerals | ASX: HRZ | |
| Stage | Development, Production | |
| Metals | Gold, Nickel, Cobalt | |
| Market cap | A$80 million @ A$0.51 | |
| Location | Kalgoorlie, Western Australia | |
| Website | www.horizonminerals.com.au |
Comment
This $30 million deal paves the way for Horizon to pick up Poseidon’s 422,000-tonne contained nickel resource grading 1 per cent, 18,300t of copper, 7800t of cobalt and the mothballed Black Swan nickel processing plant, 40 kilometres east of Kalgoorlie, Western Australia.
Horizon says the processing plant alone would otherwise cost $150m to replace.
The company recently issued 213 million new shares at 4.5 cents a share in a placement to Golden Crane Holdings to raise A$9.625 million. These funds will go towards further project development, and, potentially, debt retirement.
Horizon plans to do its own gold processing – the main reason for this acquisition, and will need to spend some money refurbishing the front end of Poseidon’s plant and installing gold processing facilities at the back end to make it fit for use.
This is exactly the type of company I like to invest in, bringing in early cashflow and using the funds generated to create shareholder value by exploration, without further dilution.
——-
Horizon Minerals Poseidon Takeover Gets The Green Light
Schemes of Arrangement – Court Approval of Schemes
.
Horizon Minerals Limited (ASX: HRZ)
Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.
The Schemes will become legally effective following lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC).
Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025.
Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.
The Schemes will become legally effective following lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC).
Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025. Once this occurs, it is expected that Poseidon’s securities will be suspended from trading on the ASX at the close of
trading on 10 February 2025.
.
Subsequent important events and dates
Date of the Schemes and last day of trading of Poseidon Shares and Poseidon Listed Options on ASX – 10 February 2025.
.
.
To read the full news release please click HERE
..
The live gold price can be found HERE
.
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
Disclosure
At the time of writing the author holds shares in Horizon Minerals.
.