16 November 2001
Heron Bids for Slice of Stuart Shelf
Perth-based Heron Resources Ltd has announced that its wholly-owned subsidiary, Avoca Resources Limited has lodged five Exploration Licence applications covering 8,336 kms-squared located in the southern Stuart Shelf region of South Australia.
Herron said in an announcement to the ASX that the regulations of the South Australian Office of Minerals and Energy Resources, at this stage prohibited comment on the likely outcome of the applications in the event of competing applications.
The Stuart Shelf occurs on the eastern margin of the Gawler Craton, bounded by the Torrens Hinge Zone in the east. The province is characterised by the occurrence of copper-gold mineralisation associated with haematitic breccias related to Proterozoic felsic volcaniclastics and high level granitoids.
Regional mineralised centres from NW to SE include the Mt Woods Inlier hosting the Minotaur Resources Limited Prominent Hill copper-gold discovery), Olympic Dam, and Mount Gunson.
The Avoca tenement applications cover magnetic targets associated with inferred haematic breccia and high level granitoid geological settings.
Heron scrip was trading at 20.5¢ on November 16, 2001.
To download article see www.minebox.com
15 February 2001
Share Placement
The Directors of Heron Resources ("the company") are pleased to announce it has mandated DJ Carmichael Pty Limited, a participating organisation of the Australian Stock Exchange Limited, to arrange a Placement, pursuant to section 708 of the Corporations Law of 10,000,000 ordinary fully paid shares at a price of 28 cents each to raise $2,800,000 before expenses.
DJ Carmichael Pty Limited is entitled to recieve the fee of 5% of the funds raised from the placement.
The Company intends to use the funds raised from the placement to assist in funding pre-mine drilling at Goongarie South, additional resource drilling elsewhere at Goongarie (Cawse Stage II BFS requirements), new exploration drilling of the Laverton nickel laterite projects, and working capital. Following the Placement and payment of placement expenses, the Company's total cash position will be approximately $4.6 million.
The issue of ordinary shares represents 10% of the Company's existing issued capital and will not require shareholder approval. The new ordinary shares will rank equally with other ordinary shares on issue and will participate fully in any dividends announced after the date of allotment.
Ian Buchhorn
Managing Director
31 January 2001
Heron moves on Laterite Production Opportunities for Goongarrie
Discussions Underway with WMC for Possible Supply to Kwinana
Kalgoorlie-based lateritic nickel group, Heron Resources Limited, has moved closer to securing some exciting production opportunities to monetise its nickel laterite deposits, including preliminary discussions to supply a nickel hydroxide product to WMC Limited's Kwinana Nickel Refinery.
The WMC discussions highlight a significant new opportunity for Heron to supply an intermediate laterite product with a refinery such as Kwinana acting as the 'back-end' to the process.
The Kwinana refinery currently produces 60,000 tonnes a year of nickel, but could boost its capacity in future as high as 100,000 tonnes, with some of its additional feed potentially sourced from alternative sources, such as the laterite deposits.
Another similar opportunity exists through a previously negotiated arrangement for Heron to contribute ore to a jointly-owned processing plant based on Keith Kilkenny Province ore outside of Heron's strategic alliance with the Cawse Nickel Project.
Heron's Managing Director, Mr Ian Buchhorn, said the Company's Goongarrie resource was attracting wide industry interest as a premium nickel laterite resource, with further drilling during the December Quarter upgrading 74% of the resource to Indicated category.
Total Inferred and Indicated resources for the project stand at 180 million tonnes at 1.05% nickel and 0.08% cobalt.
These developments are of significance to Heron Resources (see December 2000 Quarterly Report)
24 January 2001
Tim Treadgold - Reuters, also reports on WMC Ltd talks to sell refining services to the Australian outback's emerging lateritic nickel miners. In his article he reports Seamus French (General Manager of Kwinana Nickel Refinery), as confirming preliminary discussions had been held with Heron Resources, about using Kwinana as the "back end" of its proposed mine developed.
22 January 2001
WMC - Laterite treatment option a possibility at Kwinana
In an article by Stephen Bell, it outlined that WMC has indicated long term plans to produce up to 30% of its output from laterite sources. It has been reported that WMC envisage doing this as a "back end" plant for hire to emerging laterite players. Laterite hopefuls see the possible slashing of up-front costs of their projects by treating product through the WMC Kwinana Nickel refinery.
For more information see www.miningnews.net
