Heron Resources - Aegis Junior Resources Review, June 2008 Quarterly Review
"HRR is moving ahead on two fronts to become a top-10 low-cost Ni producer."
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Heron Resources - A world-class position in nickel, May 2008
"Despite a recent setback with respect to one of its emerging nickel laterite projects in Western Australia, the Heron Resources story has never looked better from our point of view. Work is continuing on both its wholly-owned Yerilla project and its Kalgoorlie Nickel Project in conjunction with CVRD. Laterite developments are set to contribute a much larger share of worldwide nickel production as the operational issues that plagued developments almost a decade ago have now been resolved. Heron boasts major stakes in two of the best new emerging projects."
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Heron Resources - Aegis Junior Resources Review, March 2008 Quarterly Review
"HRR is moving ahead on two fronts to become a top-10 low-cost Ni producer."
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Heron Resources - Aegis Junior Resources Review, December 2007 Quarterly Review
"The Kalgoorlie Nickel project is a potentially world-class nickel laterite project."
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Heron Resources - Aegis Junior Resources Review, September 2007 Quarterly Review
"the KNP project … is a potential company-maker for HRR."
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Heron Resources - BHP and CVRD boost their stakes, November 2007
"Heron Resources remains extremely busy on the project appraisal front in Western Australia, with work continuing on both its wholly-owned Jump-Up Dam nickel project and its Kalgoorlie Nickel Project joint venture with CVRD. … With interests in two emerging nickel projects and the dynamic tension provided by the world's two biggest mining houses, we maintain our firm view that Heron Resources is an unique opportunity with little apparent downside."
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Heron Resources, December 2006
"Heron Resources represents a relatively low risk emerging nickel company with very attractive upside and minimal downside."
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Heron Resources - World-class nickel exposure, November 2006
"With the price of nickel at record highs, we thought it timely to introduce our Members to Heron Resources, a focused and emerging nickel producer. Heron is currently involved in a joint venture on its Kalgoorlie Nickel Project with one of the world's biggest nickel producers, Inco of Canada. The venture is examining the commerciality of developing Australia's largest undeveloped laterite nickel deposit. BHP Billiton is also on the Heron share register, highlighting how attractive the KNP project is. … The Kalgoorlie Nickel project represents Australia's largest undeveloped nickel resource."
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Heron Resources - February 2006
"Among nickel laterites the Kalgoorlie Nickel Project offers a rare combination of size, amenability to pressure acid leaching, political security, and environmental stability. A recent technical discovery relating to the KNP's main ore type could mean that high average grade can be added to the list of the KNP's attributes; effectively fulfilling the major mining company wish list for new nickel projects. … Few if any other nickel projects around the world appear capable of diverting capital from the KNP."
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Heron Resources - April 2005
"Heron's perseverance in compiling the Kalgoorlie Nickel Project has been vindicated – by two of the world's leading nickel producers. … Inco and BHP Billiton have concluded separate deals seeking exposure to Heron's Kalgoorlie Nickel Project. … For the first time in over a decade some smart capital has targeted the nickel laterites of the Goldfields region in Western Australia."
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Heron Resources - September 2004
"Heron has assembled a portfolio of nickel laterite resources within the Kalgoorlie Nickel Project in Western Australia, with the intention of developing a high pressure acid leach project to produce 50,000 annual tonnes of nickel. Heron's resources of 862 million tonnes at 0.74% nickel and 0.05% cobalt are dominated by silica-oxide type laterites, which is the largest resource of its kind. Recent technical advances in screen upgrading silica-oxide ore types have major implications for the Kalgoorlie Nickel Project, suggesting that a leach feed grade of greater than 1.5% nickel may be achievable at a lower mining cut-off grade than previously assumed. Should extensive resource drilling and screening tests confirm the early indications; the two main requirements for nickel laterite project viability will be satisfied."
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Heron Resources - Huntleys' Smaller Companies Guide #305, December 2002
"The Goongarie nickel laterite project continues to be an excellent option on both the nickel price and the future of the Cawse laterite processing plant. … The company and a Chinese group have been evaluating the prospects for a stand-alone development based on HRR's nickel laterite resources…"
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Heron Resources - Huntleys' Smaller Companies Guide #287, April 2002
Most of Western Australia's nickel laterite industry remains mired in debt, but just as it out-performed its competitors in attaining full-production, the Cawse plant is ahead of the pack in finding a new owner following the failure of its previous owner, Centaur Mining.
Finnish group, OMG, acquired Cawse last year just as the nickel price plumbed its lows. While it may have been easier for investors if HRR had beaten OMG to the punch, the parlous state of the nickel price probably prevented Heron from making as aggressive a bid as it would have liked.
There are many ways to skin a cat, however, and given OMG's position as a trader and processor rather than a miner and resource developer, Heron may still be in the race for a piece of Cawse.
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Control of Heron needed for Acquirer of Cawse, May 2001
Analyst Opinion - The granting of Mining Leases at Heron Resources Ltd's (HRR) Goongarrie Project and notification of termination of the Strategic Alliance Agreement ("SAA") with Centaur Mining & Exploration NL (CTR) should be viewed as being positive for HRR. We believe that these two developments provide potential acquirers' of CTR's Cawse Nickel Operation with the comfort that HRR is able to deal on its high grade Goongarrie resource.
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Heron Resources - Huntleys' Smaller Companies Guide #262, March 2001
"…We continue to suggest this stock as an interesting speculative buy. We believe the right deal could multiply HRR's current stock price…"
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Heron Resources - Huntleys' Smaller Companies Guide #260, Feb 2001
"…Theres a lot to be said for keeping one's powder dry. HRR has watched other nickel laterite juniors rush into production, and just as quickly rush toward insolvency, while it has concentrated on building its resource base and waiting for the right deal…"
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Takeover Target? August 2000
- Heron Resources NL (HRR) owns substantial lateritic nickel/cobalt deposits in close proximity to Centaur Mining & Exploration Ltd's (CTR) lateritic nickel/cobalt plant at Cawse near Kalgoorlie.
- HRR has a Strategic Alliance with CTR to provide ore to the Cawse plant.
- CTR is currently undertaking a feasibility study into expanding the plant (Cawse Stage II) and could find it difficult to finance Stage II without 100% ownership of HRR's ore deposits.
HRR's immediate strategy has been to continue to upgrade and expand its resource base. In its latest quarterly report HRR announced its global resource base increased by some 200+% to over 400 million tonnes. Based on this increase and the strategic nature of the deposits, we have upgraded our valuation of HRR to around 75¢ per share.
In our opinion HRR's deposits are now of a sufficient size to force a re-think of the location for the Cawse II plant. HRR's resource base elevates it to "key player" status in a future regional rationalisation of the Eastern Goldfields nickel laterite industry.
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