Horseshoe Metals: Raises $2m for WA copper-gold project

Horseshoe Metals Raises $2m for WA copper-gold project

• Horseshoe Metals (HOR) is set to raise $2 million to support exploration plans at its Horseshoe Lights project in Western Australia
• The $2 million placement comprises 80 million shares to be issued at 2.5 cents — a 21.9 per cent discount to HOR’s last closing price on February 1
• The company will put the funds towards drilling, testwork and ongoing reviews at its flagship copper-gold project and is currently waiting on assays from recent drilling
• The company believes there is “considerable exploration upside” at Horseshoe Lights, which previously produced around 316,000 ounces of gold and 55,000 tonnes of copper metal
• HorseshoeMetals shares are down 9.38 per cent to trade at 2.9 cents at 1:16 pm AEDT