ASX Release – 20 November 2007
Heron Completes placement
Heron Resources Limited (ASX: HRR) is pleased to announce that agreement has been reached for the placement of 15,000,000 shares at $1.15 per share to a subsidiary of CVRD Inco Limited (CVRD Inco) to raise $17,250,000 (Placement Shares). Upon completion of issue of the Placement Shares, CVRD Inco’s shareholding in Heron will increase to 13.96%.
The proceeds of the placement will be used for completion of the current Jump-up Dam Trial Mining and Demonstration project, undertaking the Jump-up Dam definitive feasibility study, regional nickel sulphide and laterite exploration along with general working capital.
Heron’s Managing Director, Mr Mathew Longworth, said “The continuing support of major shareholders is appreciated, providing funding to undertake the extensive study programs required to make decisions on the Jump-up Dam project and conducting regional exploration within Heron’s significant landholding.”
N. Mathew Longworth
Managing Director, Heron Resources Limited
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Heron Resources Limited www.heronresources.com.au Perth Office Level 1, 37 Ord Street West Perth WA 6005 PO Box 1380 West Perth WA 6872 Phone: +61 8 9215 4444 Fax: +61 8 9215 4490 Kalgoorlie Office 21 Close Way Kalgoorlie WA 6430 PO Box 1280 Kalgoorlie WA 6433 Phone: +61 8 9091 9253 Fax: +61 8 9091 9256
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Heron Res. is a nickel and cobalt development stage company based in Australia.
Heron Res. holds various exploration projects in Australia.
Its main exploration properties are BIG FOUR HERON - GOONGARRIE, BIG FOUR - GOONGARRIE, SIBERIA NORTH, BULONG - MAIN, BULONG - EAST, HAMPTON (KNP PROJECT), BIG FOUR PLACER - GOONGARRIE, GOONGARRIE HILL - GOONGARRIE, GOONGARRIE SOUTH - GOONGARRIE, HIGHWAY - GOONGARRIE, SCOTIA - GOONGARRIE, JUMP-UP DAM, LAVERTON NICKEL and MT ZEPHYR in Australia.
Its stock quote reached its highest recent level on April 13, 2007 at 1.47, and its lowest recent point on April 03, 2020 at 0.02.
Heron Res. has 47 442 200 shares outstanding.