Horizon Minerals Limited (ASX:HRZ) (Horizon Minerals or the Company) is pleased to provide an update on the successful raising of capital to support the development of its 100% owned Black Swan Processing Hub (BSPH or the Project), located near Kalgoorlie in the Goldfields region of Western Australia.
HIGHLIGHTS
- Firm commitments received to raise A$175 million (before costs) via a two tranche underwritten placement (with the second tranche subject to shareholder approval) to tier one institutional, high net worth investors and supportive existing shareholders
- Share purchase plan (SPP) offer to eligble shareholders targeted to raise up to an additional A$10m
- Funds raised to be applied to the BSPH refurbishment and gold processing conversion, site infrastructure, open pit & underground pre-production, exploration & geology, pre-production operating costs, contingency, working capital and offer costs.
Grant Haywood, Managing Director said “We are delighted with the support for this transformational Placement and welcome a number of new, highly credentialled Australian and offshore institutional investors to the register. The quality of funds introduced during the capital raising cements our view of the underlying fundamental value creation opportunity outlined in the Black Swan Processing Hub Studies announced this week.
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Learn more about Horizon Minerals at www.horizonminerals.com.au