https://www.engineeringnews.co.za

Heron spin-off proceeds

11th November 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The spin-off of ASX-listed Heron Resources, Ardea Resources, has lodged a prospectus with the Australian Securities and Investment Commission for a proposed initial public offering (IPO) of up to 30-million shares at an issue price of 20c each.

The IPO will include a priority offer to existing Heron shareholders, and is expected to raise some A$6-million before costs.

The prospectus also includes an offer by Heron for the sale of up to 5.4-million shares under a sale facility.

Heron in August announced plans to spin-out its gold/nickel assets, as the company restructured its non-Woodlawn assets in New South Wales and Western Australia.

Ardea’s development focus will be the Lewis Ponds gold/zinc project in central New South Wales, and its exploration focus will be the Mt Zephyr and the Bardoc Tectonic Zone gold projects in the Eastern Goldfields of Western Australia.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.079 0.223s - 140pq - 2rq
Subscribe Now