PERTH (miningweekly.com) – Base metals junior Heron Resources has received a further extension to the standstill agreement with senior debt provider Orion Mine Finance (OMF) to determine a forward path for its Woodlawn project, in New South Wales.
Heron in March suspended operations at Woodlawn amid travel restrictions imposed by the federal and state governments in response to the Covid-19 pandemic, triggering a default event under the loan agreement with OMF.
OMF extended a waiver of this default event until April 23, and again until May 15.
Heron on Friday reported that the company has now been given until June 26 to work with its key stakeholders to determine a path forward for the Woodlawn project.
In the meantime, the project will remain under care and maintenance, with all assets being maintained by the remaining site personnel to a level that will support an efficient restart of operations.