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Heron will solely focus on its Woodlawn zinc-copper project in New South Wales.

Heron to spin-out gold, nickel assets

Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.

Heron plans to demerge its subsidiary, Ardea Resources, into a standalone ASX-listed company, which will fully own the Lewis Ponds gold-zinc project in NSW, and several gold and nickel projects located in the Goldfields.

The Goldfields projects include the Mt Zephyr prospects near Leonora, and the Bardoc Tectonic Zone prospects north of Kalgoorlie.

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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
62ndFlinders Mines162%-6%
340thEquatorial Resources3%-28%
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
402nd↓Equatorial Resources$0
403rd-Flinders Mines$0
407th↑Kalia$0
409th↓Geopacific Resources$0
489 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Heron Resources

196thWayne Taylor$590k
366thCharlie Kempson$377k
617thSimon Smith$237k
Ranked by total remuneration from all listed WA companies

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