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Poseidon Nickel Limited ( (AU:POS) ) has provided an announcement.
Poseidon Nickel Limited and Horizon Minerals Limited have announced a proposed merger through schemes of arrangement, where Horizon Minerals will acquire all shares and options of Poseidon Nickel. This strategic move will involve a significant share placement by Horizon Minerals to Golden Crane Holdings to raise funds for project development and potential debt refinancing. The merger and financing arrangement are expected to strengthen the capital structure and financial position of the combined entity, with Poseidon shareholders holding a substantial share in the newly formed group.
More about Poseidon Nickel Limited
Poseidon Nickel Limited operates in the mining industry, focusing on the exploration and extraction of nickel resources. The company is involved in the development of mining projects and partnerships that enhance its market position in the metals and minerals sector.
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $10.44M
Find detailed analytics on POS stock on TipRanks’ Stock Analysis page.
