Horizon Gold Limited (ASX: HRN) has unveiled a Renounceable Entitlement Issue, offering one new share for every five shares held at AU$0.30 per share, aiming to raise approximately AU$7.5 million. Major shareholder Zeta Resources Limited and Horizon's Directors plan to subscribe fully, contributing about AU$5.7 million to the Issue.
The raised funds will be utilized for various purposes, including financing the Gum Creek Gold Project's scoping study, funding additional resource drilling scheduled to commence in Q4 CY2023, repaying debts, and supporting general working capital requirements. The Gum Creek Gold Project, wholly owned by Horizon, spans 663 square kilometers along the Gum Creek greenstone belt north of Sandstone, Western Australia. The Project holds significant potential for expanding its current 2.14Moz gold resource base through ongoing exploration efforts and a free milling open pit scoping study.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
