Horizonte Minerals (GB:HZM) has released an update.
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Horizonte Minerals Plc is seeking to secure full funding for its Araguaia Nickel Project, with estimated costs between $567 million and $592 million, including construction, ramp-up, and contingencies. The company is in active discussions with financial stakeholders to restructure its existing $418 million debt and secure additional financing, but warns there is no guarantee for a favorable outcome for existing shareholders. Without a successful refinancing, the company may consider measures such as asset liquidation or formal administration.
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