Priceless ….20 Dec 2023 01:47
What precisely is negative here and the market thinks it’s going down! Foolish idiots!!!!
Araguaia Project Update
Horizonte Minerals announces that discussions with the Company’s cornerstone shareholders on an interim financing package continue to progress. Discussions were initiated to provide sufficient liquidity for the Company to complete the required re-estimation and risk reduction work necessary to implement a full funding solution for its flagship Araguaia Nickel Project.
Highlights include:
Consolidated cash position of US$42m as of December 15th 2023 which is expected to last until the end of January 2024
Positive discussions remain ongoing between lenders and cornerstone shareholders with regard to commercial terms for an interim financing solution to extend this period
The Company and independent consultants continue to review the outstanding Project capital expenditure and schedule re-estimate, necessary to implement a full funding solution
Demobilization well advanced with two critical construction activities continuing to progress….