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

- September 7th, 2017

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 … Continued

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

Zinc Prices Have Hit a Decade High


See why zinc prices might rally in 2018 in our free report


Leave a Reply

Your email address will not be published. Required fields are marked *