Heron To Raise $91 Million For Woodlawn Project

Heron Resources has secured $91 million in funding which it will use to progress the Woodlawn zinc-copper project in New South Wales.

Funds will be mainly allocated towards underground mining working capital at the site ($28 million) and processing, concentrate and site services working capital ($24 million).

It will also allow commissioning of the project to be completed and to see it through to positive cash flow operations.

Heron chairman Stephen Dennis said Woodlawn remained economically and technically sound despite working capital requirements being impacted by construction delays and early stage commissioning issues.