Discovering & developing world class ore bodies

With 100% ownership of one of the world’s largest undeveloped nickel laterites, excellent exploration projects, low overheads and $37.5M cash and $3.5M in listed equity, Heron represents enormous medium to long‐term value.

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Excellent exploration portfolio

Heron continues to add to its 100% owned exploration portfolio, through targeted Copper-Gold tenement applications in premium exploration belts in Australia- Lachlan Fold Belt NSW and Cloncurry NW Queensland, and well funded exploration at Nickel-Copper-PGM sulphide projects and Gold projects in WA.

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Business Development

The Heron team have a strong track record in sustained shareholder value creation. Heron holds over $41 million in cash and listed equity investments, largely due to divestment of former exploration projects and are in a strong position to take advantage of opportunities as they arise, in particular merger and acquisition to fast track production.

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Track Record

Heron has had 16 years of sustained Shareholder value creation, and through divestment of former exploration projects, has resulted in its current strong cash position of $37.5M.

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Innovation

Heron entered into an exclusive arrangement with Simulus to co-fund the development of its reagent recovery technology. The aim is to pursue development of this promising technology with a particular focus on realising the considerable value which is locked up within the KNP and to move quickly and relatively inexpensively to substantiate the potential savings in KNP capital and operating expenditure with the aim of facilitating an earlier development of the Kalgoorlie Nickel Project.

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Feature

Heron and TriAusMIN

On 10 March 2014, the Boards of Heron Resources Limited (Heron) (ASX:HRR) and TriAusMin Limited (TriAusMin) (ASX:TRO, TSX:TOR) announced that they have entered into an agreement to combine the two companies by means of a Scheme of Arrangement between TriAusMin and its shareholders.

TriAusMin Directors unanimously recommended that TriAusMin shareholders vote in favour of the Transaction, in the absence of a Superior Proposal and subject to an Independent Expert concluding that the Transaction is in the best interests of TriAusMin shareholders.

The strategic focus of the company will be on advancing the Woodlawn Underground Project (WUP) toward a production decision, enhancing the value of the Woodlawn Tailings Retreatment Project (WRP), and on completing a bankable feasibility study (BFS) involving a combined WRP+ WUP development program.

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Kalgoorlie Nickel Project

Heron's first ever lease application in the KNP, Goongarrie South, 7 January 1998

The total combined nickel laterite resource base of the Kalgoorlie Nickel Project (KNP) is updated to an estimate of 795.6 million tonnes grading approximately 0.70% nickel and 0.048% cobalt (approximately 5.6 million tonnes of contained nickel metal, 0.38 million tonnes of contained cobalt metal) (see announcement 21 Oct 2013)

These resources form the basis of ongoing metallurgical and mining studies, including the Simulus and Direct Nickel research projects, which aim to significantly reduce the capital and operating cost of processing KNP nickel laterite mineralisation. To this end Heron entered an exclusive partnership with Simulus December 13.

Potential to produce 37,000 tpa nickel in intermediate product over a 35 year mine life.

Kalgoorlie Nickel Project

Reports

2013 Annual Report

In 2013 with a strong cash position the company is not constrained when opportunities arise.

At $0.16 per Share cash + shares asset value, the company is in a robust proposition together with the high quality exploration assets added to their Kalgoorlie Nickel Project, 100% ownership, which is one of the world’s largest undeveloped nickel laterites, with >$100 billion in-ground metal value.

For full details of Heron's work during the 2013 year please see link below:

Report