Horizon Minerals (ASX:HRZ) Prepares To Raise New Funds

Horizon Minerals (HRZ) has entered a trading halt as the company awaits further details in regard to a capital raise.

Trading of HRZ shares will be paused until Friday, June 24, or until the company releases more news in regards to the funds it is looking to raise.

It is not yet known where the funds will be directed, but the company has a particular focus on gold mining in Western Australia.

In addition, its projects also cover silver, zinc, lead, and vanadium mineralisation.

Earlier this month, the company completed a restructure and demerger of its interest in the Richmond vanadium project in Queensland with its joint venture partner, Richmond Vandium Technology (RVT).

The joint venture partners are planning to launch an initial public offering (IPO) for the project to be listed as a separate public entity, in which HRZ would have a 25 per cent stake.

This ASX listing is planned to take place in September or October, with an IPO prospectus expected to be issued in August.

Shares in the company last traded at 10 cents each on June 21.

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