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An update from Poseidon Nickel Limited ( (AU:POS) ) is now available.
Poseidon Nickel Limited announced a proposed merger with Horizon Minerals Limited, with a Scheme Implementation Deed that outlines Horizon’s acquisition of Poseidon’s shares and options. The merger aims to leverage Poseidon’s assets and potentially convert the Black Swan plant for gold processing, promising a lower cost pathway to gold production. Additional soil sampling at the Black Swan and Lake Johnston sites has revealed promising gold, copper-gold, and lithium anomalies, which may enhance the company’s mineral prospects. The company has secured a loan facility with Horizon to support the merger process, highlighting its strategic focus on expanding its resource base and maximizing shareholder value.
More about Poseidon Nickel Limited
Poseidon Nickel Limited is a company in the mining industry, primarily focused on nickel, gold, and other mineral explorations. The company holds strategic assets such as Lake Johnston and Windarra, and has entered into agreements for developing gold and nickel tailings projects.
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $11.85M
For detailed information about POS stock, go to TipRanks’ Stock Analysis page.
