Horizonte Minerals (GB:HZM) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Horizonte Minerals PLC faces financial distress, unable to fully finance its Araguaia Nickel Project and has resolved to enter administration, appointing Geoff Rowley and Chad Griffin as administrators. The company’s shares have been suspended from trading on AIM and TSX, and they are consulting on a restructuring plan to preserve value for creditors. Peel Hunt LLP has also resigned as the company’s Nominated Adviser, which may lead to the cancellation of the company’s shares on AIM if a replacement is not found within a month.
For further insights into GB:HZM stock, check out TipRanks’ Stock Analysis page.