November 5, 2018 |
Horizonte Minerals said it has hired Endeavour Financial to arrange financing for the Araguaia nickel mining project in Brazil.
Horizonte released the results of the Araguaia feasibility study on October 29, saying the mine would generate cash flows of $1.57bn after taxes over 28 years, good for returns above 20% on the initial project costs of $443m.
Shares in Horizonte rose 9.58% on Friday to close at £2.65 ($3.41) on the London stock exchange.
Endeavour previously advised Canada's Lundin Gold
Nickel miner hires Endeavour to arrange financing for the Araguaia project in Brazil