Horizonte Minerals (GB:HZM) has released an update.
Horizonte Minerals PLC has announced the extension of waiver agreements with senior lenders until 15th May 2024 as it explores potential restructuring options which may include financing at the subsidiary level, asset liquidation, or other recovery methods under Brazilian law. Unfortunately, shareholders are unlikely to see any value recovery. The company’s working capital is anticipated to last until the week ending 17th May 2024, with the future dependent on ongoing creditor negotiations and potential cost-saving measures.
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