Horizon Minerals Limited (HRZ) – $86m Merger with Poseidon Nickel

Argonaut acted as Financial Advisor to Horizon Minerals Limited (ASX:HRZ) on its $86 million merger with Poseidon Nickel (ASX:POS) via a Scheme of Arrangement.

The transaction consolidates Horizon’s 1.8Moz Au Mineral Resource with Poseidon Nickel’s Black Swan processing infrastructure, providing a pathway to production and positioning Horizon as the next standalone WA gold producer. The merger received 93.39% shareholder approval, demonstrating strong support for the strategic rationale.

The acquisition was completed alongside a $14 million placement to support operational activities, drilling programs, and development studies. The enhanced asset base also strengthens Horizon’s ability to pursue further regional consolidation and leverage Black Swan’s infrastructure for broader development opportunities.

Argonaut Securities Pty Limited acted as Joint Lead Manager to the Placement announced in October 2024 and received fees commensurate with this service. Congratulations to Grant Haywood, Managing Director, and the entire Horizon team on this milestone.