- Write by:
-
Friday, August 14, 2020 - 2:13:50 PM
-
598 Visit
-
Print
Mining News Pro - Heron Resources is exploring various options for its Woodlawn zinc-copper project in New South Wales, including refinancing, joint ventures and divestment.
The company suspended operations at Woodlawn in March as it worked through a strategic process to get the best value out of the operation.
Woodlawn will remain on care and maintenance until Heron and its shareholders agree on a solution.
Heron believes that there is still “significant inherent value” in Woodlawn and that the suspension of operations is the right decision.
“It has been a challenging time for Heron since taking the difficult but right decision to suspend operations at Woodlawn in March,” Heron chief executive Tim Dobson said.
“It is pleasing that Heron’s key stakeholders have agreed to provide a clear runway and financial support to execute the strategic process over the next 12 months.”
Throughout the strategic process, Heron is also completing studies and engineering programs to optimise technical issues identified during Woodlawn’s ramp-up period last year.
The studies will include optimising the mine design and scheduling, flotation circuit operation and water usage and balancing.
To support the strategic process, Heron’s major shareholder Castlelake has agreed to provide Hero with a loan of $3.5 million.
This, with the existing cash reserves, will provide Heron with sufficient working capital to get through the strategic process.
Short Link:
https://www.miningnews.ir/En/News/583641
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Copper output in Chile, the world’s largest producer of the metal, edged down in March, data from copper commission ...
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple ...
Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant ...
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs ...
No comments have been posted yet ...