Track Record

On sell-side, 16 years of sustained Shareholder value creation, whilst advancing the KNP.

1996
Heron listed on the ASX raising $8M, portfolio of gold and nickel sulphide targets
1998
Large high-grade nickel laterite discoveries at Goongarrie South
1999
Takeover bid from Centaur – rejected by Heron Shareholders
2002
Spun out Avoca Resources, 1 for 5 in specie distribution ($0.67 per HRR at AVO merger)
2003
Spun out Pioneer Nickel Limited
2005
JV with Vale Inco, then BHP responded by buying out Heron’s second largest Shareholder
2006
Spun out Rubicon Resources Ltd and Epsilon Energy Ltd (later re-named Azimuth)
Back-door listing of iron-ore assets through Polaris Metals Ltd
Nickel laterite discoveries at Jump up Dam, implemented Heap Leach PFS
2007
Last major capital raisings at $1.15 per share (to BHP and Vale Inco)
2009
Polaris Metals taken over by Mineral Resources, netting Heron $38M
Option on A1 Gold Mine, commence gold mine decline development
2010
KNP gold tenements sold to Metaliko Resources Ltd netting $2M cash and shares
2011
Acquisition of Lachlan copper-gold tenements in NSW, now exploration focus
2012
A1 Gold Mine sold, A1 Consolidated Ltd lists with Heron holding $8.0M investment
2013
The Company’s 100%-owned tenement portfolio in NSW continued to grow, resulting in some 3,700km² in the Lachlan Fold Belt being under application or granted.
Exploration in Western Australia returned significant gold results, and "Nova-Style" nickel-copper target identified at Bedonia in the Albany Fraser Mobile Belt.
KNP Mineral Resource update 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). Metallurgical testwork through the period returning favourable results.
2014
Merger with TriAusMin completed August 2014, to acquire the Woodlawn Zinc-Copper Project:
  • Woodlawn Underground Project Mineral Resource 10.1 million tonnes at 10.1% zinc, 1.8% copper, 4.0% lead, 0.55g/t gold and 85g/t silver.
  • Woodlawn Retreatment Project Ore Reserves 11.3 million tonnes at 2.2% zinc, 0.5% copper, 1.3% lead, 0.28g/t gold and 31g/t silver, BFS completed.
  • Drilling commenced for Kate Lens resource estimation, metallurgical testing and geotechnical analysis, outstanding results including 12.3 metres at 20.0% zinc, 2.1% copper, 6.1% lead, 0.8g/t gold and 53g/t silver.
  • Geotechnical drilling commenced for decline path, metallurgical testing of first scheduled production ore, geotechnical analysis of planned production areas, leading towards TSX Preliminary Economic Assessment March 2015.
Kalgoorlie Nickel Project
  • Bench-scale testwork completed for atmospheric sulphuric acid leaching and reagent recycling, providing inputs for 20Ktpa nickel production scoping study, A$660 million capex and US$4.27 per pound C1 cost, capital intensity US$13.82 per pound compared to >US$40 for conventional HPAL plant, “step-change” for KNP economics.
  • Partner search current, including funding Demonstration Plant to test the flow-sheet.
2015
Major inroads into advancing the newly acquired and key project, the Woodlawn Zinc-Copper Project.
After finalisation of the merger with TriAusMin the seamless integration of the two businesses was completed.
Successful completion of the Woodlawn Preliminary Economic Assessment (PEA) that delivered a compelling business case for project development.
Commencement of a fully funded Feasibility Study (FS) for Woodlawn, due for completion in the second quarter calendar 2016.
Strong cash position (A$28.1M, 31 August 2015) that has been supported by the attraction of Greenstone Resources LP as a cornerstone investor.
Heron Confirmed 10Mt (M+I) of High Grade Tailings at 6.2% ZnEq within Revised JORC 2012 Mineral Resource Estimate.
Well positioned to take advantage of the strong medium term commodity market fundamentals for zinc and copper.
Exceptional drilling results received from the Woodlawn Project in the Phase I (PEA) and follow-up Phase II (FS) drilling programs, underpinning a new high grade underground resource.
2016
Heron delivers Woodlawn Project Feasibility Study.
Heron commenced drilling of Northern Extension Targets at Woodlawn.
Completion of A$6.8M placement to Greenstone Resources, becoming Heron’s largest shareholder.
Commenced Spin-off of non-Woodlawn assets into Ardea Resources.
Targeting an in-specie distribution of Ardea shares to Heron shareholders.
2017
Ardea Resources Limited IPO closes with $A5.1M raised, Spin-off conditions satisfied. Inspecie shares issued.
Ardea (ARL) commences trading on ASX 9 Feb 2017.