Australia's Horseshoe Metals jumps on getting mining approval

Horseshoe Metals

02/07/2025 05:54

** Shares of Horseshoe Metals HOR.AX up 14.3% at A$0.024

** Earlier in the day, stock rose as much as 42.9% to A$0.03, its highest level since early April 2023

** Minerals explorer receives mining approval for direct shipping ore at its Horseshoe Lights copper-gold project in Western Australia

** Says approval allows co to mobilise key work personnel to site in early July and enable early cash flow from sales of existing copper stockpiles

** Co to also raise A$851,000 ($559,362.30) through a share placement at an issue price of A$0.021, in line with its prev close

** Stock up 71.4% YTD

($1 = 1.5214 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com))