Horizonte Minerals (GB:HZM) has released an update.
Horizonte Minerals has announced its inability to secure full funding for its Araguaia Nickel Project, leading to the exploration of alternative options, including asset liquidation, which is unlikely to benefit shareholders. Despite the project’s strong fundamentals, the current nickel market has deterred investors, prompting the company to consider alternative scenarios to satisfy creditors. With a cash balance of US$16.2 million, the company is still seeking potential restructuring solutions.
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