Heron secures A$240m for Woodlawn project

June 30, 2017

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ASX- and TSX-listed Heron Resources has secured the full A$240-million funding package required for the construction and ramp-up of its Woodlawn zinc/copper project, in New South Wales.

The package comprises a loan, equity and stream funding package from subsidiaries of Orion Mine Finance Group for A$129-million, an equity subscription agreement with a subsidiary of existing shareholder Greenstone Resources and coinvestment parties for A$42-million and an equity subscription agreement from new cornerstone equity investor, Castlelake, for A$33-million, as well as the receipt of commitments from various sophisticated and professional investors to subscribe for fully paid ordinary shares in the company to raise about A$32-million.

Category: General