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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 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
492 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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