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Horizon Minerals Ltd ( (AU:HRZ) ) just unveiled an announcement.
Horizon Minerals has completed a placement of 50,891,510 fully paid ordinary shares at $1.08 each to local and offshore institutional and sophisticated investors, executed under ASX Listing Rules 7.1 and 7.1A. The company confirmed the shares were issued without a prospectus under the Corporations Act disclosure exemptions, while stating it remains compliant with financial reporting and continuous disclosure obligations and has no excluded information relevant to investors.
The company also reiterated its intention to proceed with a share purchase plan for eligible investors without a disclosure document, relying on ASIC relief for such capital raisings. The placement and planned share purchase plan together signal an effort to strengthen Horizon Minerals’ balance sheet and broaden its investor base, potentially providing additional funding flexibility for future operational and strategic initiatives.
The most recent analyst rating on (AU:HRZ) stock is a Sell with a A$1.00 price target. To see the full list of analyst forecasts on Horizon Minerals Ltd stock, see the AU:HRZ Stock Forecast page.
More about Horizon Minerals Ltd
Horizon Minerals Ltd is an Australian resources company listed on the ASX, focusing on the exploration and development of mineral assets. The company targets local and offshore investors to support its growth plans in the mining sector and related project development activities.
Average Trading Volume: 922,577
Technical Sentiment Signal: Buy
Current Market Cap: A$253.8M
See more data about HRZ stock on TipRanks’ Stock Analysis page.