Heron to list gold and nickel assets separately to focus on Woodlawn
JOHANNESBURG (miningweekly.com) – The proposed listing of Heron Resources’ wholly-owned subsidiary, Ardea Resources, will see the company restructure its non-Woodlawn asset portfolio in New South Wales and Western Australia, with a focus on gold and nickel.
Ardea’s development focus will be on the 6.62-million tonnes at 1.5 g/t Lewis Ponds gold/zinc project in central New South Wales, where it has an “aggressive” drilling and metallurgical programme planned, while its exploration focus will fall on Mount Zephyr and the Bardoc tectonic zone gold project in Western Australia.
Meanwhile, Heron will now solely focus and fast track the development of the Woodlawn zinc/copper project, aimed at starting production in 2018. A recently completed $11-million prefeasibility study shows underground mineral reserves of 2.8-million tons, with steady state production of 40 000 t/y of zinc and 10 000 t/y of copper over its nine-year mine life.
“The commissioning of Woodlawn is best expedited with the non-Woodlawn assets in a separate vehicle, which will allow them to be valued and advanced through a more focused offering.
“We understand that different investors in Heron have preferences for different asset exposure and with the Ardea spin-out, we can clearly separate the Woodlawn production opportunity while seeking to drive superior value for shareholders,” Heron MD Wayne Taylor said in a statement on Wednesday.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...
VISIT SHOWROOM
ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
