Horizon Minerals Issues Over 274 Million Shares in Strategic Capital Raise

Horizon Minerals Ltd ( (AU:HRZ) ) has issued an update.

Horizon Minerals Ltd has announced the issuance of 274,851,051 fully paid ordinary shares at an issue price of $0.043 each, as part of a two-tranche placement. This move, conducted under ASX Listing Rules 7.1 and 7.1A, signifies the company’s efforts to raise capital without disclosure to investors under Part 6D.2 of the Corporations Act. The issuance aligns with the company’s compliance with relevant provisions of the Corporations Act, indicating a strategic step in its financial operations. This development could potentially impact the company’s market positioning by enhancing its financial base, thereby influencing stakeholders’ perspectives.

The most recent analyst rating on (AU:HRZ) stock is a Buy with a A$0.12 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 a company operating in the mining industry, primarily focused on the exploration and development of mineral resources. The company is listed on the Australian Securities Exchange under the ticker HRZ.

Average Trading Volume: 6,347,873

Technical Sentiment Signal: Sell

Current Market Cap: A$105.2M

Learn more about HRZ stock on TipRanks’ Stock Analysis page.