- Horizonte Mineralsis proposing to raise £9.0 million, before expenses, through a conditional placing of 450,000,000 ordinary shares at 2p apiece.

The net proceeds will be used to fund the preparation of a definitive feasibility study for the company's 100% owned Araguaia nickel project in Brazil and for general working capital purposes. The placing is conditional upon, among other things, shareholder approval.

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