Nickel developer Horizonte’s financing efforts fail

London- and Toronto-listed Horizonte Minerals has failed to secure financing for its Araguaia nickel project, in Brazil, and is compelled to explore other options that may put shareholder value at risk. The alternative scenarios will focus on protecting the interest of secured creditors and include raising financing at the subsidiary level, a sale of the project while in care and maintenance, the liquidation of the assets, or other options available under Brazilian laws.