Horizon Gold Secures AU$30 million to Fast-Track Gum Creek Development
Horizon Gold Limited (ASX: HRN) has unveiled a AU$30 million equity raising to accelerate exploration and advance its fully owned Gum Creek Gold Project in Western Australia toward production. The funding comprises a AU$20 million placement to institutional and sophisticated investors at AU$1.20 per share, complemented by a 1-for-20 non-renounceable entitlement offer aiming to raise about AU$10.2 million. Major shareholders and directors have indicated strong participation in the entitlement component.
The capital will largely support an expanded 80,000 metre drilling campaign, lifting rig numbers to four and targeting both underground high-grade extensions and shallow oxide prospects beyond the current mine plan. Additional funds will complete the feasibility study, progress permitting, and strengthen working capital. Gum Creek hosts a Mineral Resource of 37.97 million tonnes at 1.89 grams per tonne gold for 2.30 million ounces, with significant scope for further expansion. An updated resource estimate is anticipated in the second half of 2026, positioning the company for a Final Investment Decision.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Horizon Gold Secures AU$30 million to Fast-Track Gum Creek Development
Horizon Gold Limited (ASX: HRN) has unveiled a AU$30 million equity raising to accelerate exploration and advance its fully owned Gum Creek Gold Project in Western Australia toward production. The funding comprises a AU$20 million placement to institutional and sophisticated investors at AU$1.20 per share, complemented by a 1-for-20 non-renounceable entitlement offer aiming to raise about AU$10.2 million. Major shareholders and directors have indicated strong participation in the entitlement component.
The capital will largely support an expanded 80,000 metre drilling campaign, lifting rig numbers to four and targeting both underground high-grade extensions and shallow oxide prospects beyond the current mine plan. Additional funds will complete the feasibility study, progress permitting, and strengthen working capital. Gum Creek hosts a Mineral Resource of 37.97 million tonnes at 1.89 grams per tonne gold for 2.30 million ounces, with significant scope for further expansion. An updated resource estimate is anticipated in the second half of 2026, positioning the company for a Final Investment Decision.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au