Heron rests Woodlawn hopes on A$91m funding

Base metals hopeful Heron Resources has unveiled a A$91-million funding package to allow for the commissioning of its Woodlawn copper/zinc project, mitigating the financial impacts of a seven month delay in construction.

The funding package will consist of a A$35-million non-renounceable entitlement offer of new shares, priced at 20c a share, and a $35-million convertible note provided by Castlelake, Greenstone Resources and Orion Mine Finance Group.