Heron Successfully Completes A$141 Million Equity Funding Package for Development of its Woodlawn Zinc-Copper Project

Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the “Company”) is pleased to announce the successful completion of its A$141 million1 Equity Funding as part of the full A$240 million total Woodlawn development funding package announced to the ASX & TSX on Friday, 30 June 2017.

As quoted in the press release:

Highlights

  • Woodlawn is fully funded through construction and ramp-up

  • Global mining and private equity cornerstone investors Greenstone, Orion and Castlelake, on behalf of funds it manages, secure strategic shareholdings

  • Institutional placement heavily oversubscribed and supported by a number of high quality existing and new institutional investors

  • Full A$5 million raised from the Share Purchase Plan through take-up by existing shareholders and placement of shortfall

  • Progressing the remaining conditions precedent for the US$60 million senior debt facility and US$16 million silver prepayment facility

  • Orion’s Peter Rozenauers and Castlelake’s Ricardo De Armas to be welcomed to the Board as Non-executive Directors

  • Heron on track for first production targeted late 2018 / early 2019

 

Click here for the full text release

Get the Latest Zinc Investing Stock Information

Get the latest information about companies associated with Zinc Investing delivered directly to your inbox.

Zinc

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply