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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 29/09/17

1 year TSR5 year TSR
thGalena Mining0%0%
62ndFlinders Mines162%-6%
526thGindalbie Metals-21%-44%
591stGeopacific Resources-34%-28%
711thHeron Resources-54%-14%
719 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

02/10/17
$15k Bought
07/09/17
$15k Bought
07/09/17
$30k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

223rd↓Heron Resources$140k
403rd-Flinders Mines$0
406th-Galena Mining$0
409th↓Geopacific Resources$0
410th↓Gindalbie Metals$0
489 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Heron Resources

196thWayne Taylor$590k
366thCharlie Kempson$377k
616thSimon Smith$237k
Ranked by total remuneration from all listed WA companies

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