Poseidon Nickel Limited (AU:POS) has released an update.
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Poseidon Nickel Limited is set to merge with Horizon Minerals Limited, offering its shareholders exposure to gold production amidst record gold prices. This strategic move comes as the company seeks a path forward in light of challenging nickel market conditions and aims to convert its Black Swan plant to a gold processing facility. The merger positions Horizon to become a new mid-cap gold producer, while Poseidon shareholders benefit from potential future resource growth.
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