HRR 1.82% 5.6¢ heron resources limited

bulong nickel project - for arhidas

  1. 5,147 Posts.
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    Hi Arhidas,
    It has been a while since we last posted to each other.

    I don't know if you are aware that The Bulong laterite nickel project - east of Kalgoorlie appear to be teetering on the brink after receivers were appointed to assess the troubled operation on behalf of creditors and has been placed in voluntary administration.
    Bulong is 49.9% owned by Barclay's Bank, 46.1% by a syndicate of bondholders, and 5% by Preston Resources.
    One of the reasons is the uncertainty of the supply and cost of sulphuric acid needed in the processing together with the stronger Australian Dollar - which apparently takes $1 million off Bulong's bottom line for every 1 cent appreciation.

    I noticed that Heron's response to Bulong is that it will be watching developments with interest.

    Yet another possible scenario for Heron.
    You will also be aware that Heron has added to its prospect areas 10-40km north along strike from Goongarrie to take in the the key "Goongarrie-Goethite" style of resource that Heron believes is the best grade and quality laterite resource in the eastern Goldfields.

    Still patient!! and you?

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