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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Horseshoe Metals To Finalise Rights Issue Details 0 comments
    Jun 20, 2013 9:22 PM

    Horseshoe Metals (ASX: HOR) will soon finalise a timetable for its previously announced one-for-five non-renounceable rights issue to raise up to $1.17 million.

    Proceeds from this rights issue and a share placement to raise $700,000 will be used for follow-up exploration at the Horseshoe Lights and Kumarina Projects in Western Australia, which will include geophysical survey work and drilling.

    Horseshoe plans to issue up to 16.76 million shares priced at $0.07 each under the rights issue, which is currently not underwritten though negotiations are ongoing with a number of parties/major shareholders about possible participation as sub-underwriters.

    Earlier in the month the Horseshoe Lights Project delivered a 40% increase in the high grade copper resource, and now hosts a resource of 12.85 million tonnes at 1.00% copper, and 0.1g/t gold for 128,600 tonnes of contained copper and 36,000 gold ounces.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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