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

The acquisition 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 transaction received 93.39% shareholder approval, reflecting 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.

We congratulate Grant Haywood, Managing Director, and the entire Horizon team on this milestone.