Highlights
Kalgoorlie Nickel Project
Vale Inco elected to proceed to Step 3 of its earn-in to a 60% interest in the Kalgoorlie Nickel Project (KNP) which encompasses the delivery of a pre-feasibility study. Heron is pleased with the progress Vale Inco has made on the project and Heron is looking forward to bringing this world class asset to fruition with Vale.
Yerilla Project
The Heron development team worked extremely hard in the second half of the reporting period to deliver a positive Scoping Study for its 100% owned Yerilla Project. At a planned production rate in excess of 20,000 tonnes of intermediate nickel product the project is an internationally significant project.
Langey Crossing
The Company has acquired a 100% interest in an advanced phosphate exploration project some 60km from the port of Derby. The Company is working towards obtaining all approvals necessary to commence drilling and looks forward to early results from its initial drilling campaign.
Acquisitions
The Company has developed a strategy for the acquisition of a near term production asset with the appointment of Mr David von Perger to a newly created role of Business Development Manager. Mr von Perger will focus on identification and evaluation of assets capable of acquisition by Heron that are already in production or have the capacity to be in production in the near term.
Exploration
The Heron Exploration Team completed the resource definition of the Yerilla Project plus identification of potential water and calcrete resources in the Yerilla district. In addition, a number of new projects were developed to a drill ready stage, including: Marloo Dam (nickel), Rocky Gully (nickel), Langey Crossing (phosphate) and Gordon Downs (copper). A number of noncore projects have been farmed-out during the year to third parties including: Kanowna South (gold) and Balladonia (mineral sands). Heron continues to manage and develop an extensive tenement portfolio in Western Australia through which several grass-roots projects are being nurtured through to a drill-ready stage.
Corporate
Entry into the Technology and Product Supply Agreement with BHP Billiton in January 2008 allowed Heron to access patented Atmospheric Leach Technology which was a strong contributor to the positive Yerilla Scoping Study.
- Download full 2008 Annual Report (PDF, 1.9 MB)
