Horizon Minerals Secures A$30 Million to Accelerate Growth Strategy

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

Horizon Minerals Limited has successfully secured commitments for a two-tranche placement, raising approximately A$30 million to expedite its growth strategy. This funding will bolster the company’s working capital, enabling accelerated resource and exploration drilling, as well as refurbishment studies for the Black Swan processing plant. The placement introduces new institutional investors and supports ongoing mining operations at Boorara and Phillips Find, with potential implications for increased cash generation and debt retirement.

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 Limited is a company in the mining industry, focusing on gold production and exploration. The company is engaged in resource and exploration drilling, with a market focus on expanding its mining operations and refurbishing processing plants.

YTD Price Performance: 22.50%

Average Trading Volume: 6,047,946

Technical Sentiment Signal: Sell

Current Market Cap: A$107.4M

For an in-depth examination of HRZ stock, go to TipRanks’ Stock Analysis page.