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An artist's impression of Heron's Woodlawn zinc-copper project south of Sydney.

Heron in $240m funding deals for Woodlawn

Aspiring miner Heron Resources has tapped investors for about $240 million and says it is now fully funded to develop its Woodlawn zinc-copper project in NSW.

Heron said today the funding package comprised a loan, equity and stream funding deal with Orion Mine Finance Group for $129 million, a subscription agreement with existing shareholder Greenstone Resources for $42 million, a similar agreement with new investor Castlelake for $33 million, and a further $37 million by way of a placement and share purchase plan.

All equity components of the funding deals were made at 7 cents a share, representing a 14 per cent discount to Heron’s 10-day volume-weighted average price.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/07/17

1 year TSR5 year TSR
99thEast Energy Resources76%-44%
396thOrion Minerals-6%-41%
452ndNewfield Resources-16%4%
585thCoal of Africa-38%-35%
676thHeron Resources-52%-11%
710 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

02/03/16
$32k Bought
06/01/16
$10k Bought
31/12/15
$4k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

121st↑Heron Resources$1.3m
140th↑Orion Minerals$745k
141st↑East Energy Resources$740k
143rd↑Newfield Resources$696k
144th↓Coal of Africa$694k
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Heron Resources

199thWayne Taylor$590k
373rdCharlie Kempson$377k
632ndSimon Smith$237k
Ranked by total remuneration from all listed WA companies

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