Heron completes draw-down of US$16M Silver Stream prepayment
12 March 2018 - 4:01AM
Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the
“Company”) is pleased to announce it has completed the
draw-down of the US$16M silver stream prepayment from Orion Mine
Finance. The silver stream prepayment, as announced to the market
on 30 June 2017, represents a key component of the overall A$240M
project finance package for the development of the Company’s
Woodlawn Zinc-Copper Project.
Heron’s Managing Director, Wayne Taylor,
commented:
“The draw-down of the US$16M silver stream
prepayment is a significant milestone for the Woodlawn project
finance and was subject to the completion of specific conditions
precedent, all of which have been satisfied. The prepayment is
being drawn-down in accordance with the project timeline with the
funds to be utilised for Woodlawn plant construction activities.
The project is advancing to schedule and once in production will
position the Company to capitalise on favourable conditions in the
physical zinc market.”
About Heron Resources
Limited:
Heron’s primary focus is the development of its
100% owned, high grade Woodlawn Zinc-Copper Project located 250km
southwest of Sydney, New South Wales, Australia. In addition,
the Company holds a significant high quality, gold and base metal
tenement holding regional to the Woodlawn Project.
For further information visit www.heronresources.com.au or contact:
Australia:
Mr. Wayne Taylor
Managing Director and Chief Executive Officer
Tel: +61 2 9119 8111 or +61 8 6500 9200
Email: heron@heronresources.com.au
Jon Snowball
FTI Consulting
+61 2 8298 6100
jon.snowball@fticonsulting.com
Canada:
Tel: +1 647-862-1157 (Toronto)
Follow us on Twitter @Heron_Resources