back to $0.50 again, page-15

re: back to $0.50 again/sal Hi Metalhead,
Going on the past record by Heron, Avoca was the first IPO and Heron holders were given approx 1 for 8 and first option to top up prior to the IPO. (with Avoca's current price it is a real bonus.)
Pioneer then followed approx 12 months later on roughly the same basis.

I have no idea which will be the next but it looks as if things are advancing with Echelon/Ochre.....Iorn Ore.
Heron will pass on all its Iron Ore to Echelon and in return will receive approx 25 mill shares which are very likely to come back to shareholders. The last time I looked Echelon were trading at .35 cents. It appears that Heron will hold the shares for 9 months before issueing to shareholders.
The Balladonia and Regent Resources IPO's have been on the go for quite a long time but It appears that the HRR annual report and the latest activities report give a clear indication that the IPO's are advancing now.

As far as the Sulphide J/V is concerned it appears that HRR are putting the finishing touches in deciding exactly which tenements are included.
As Phillip has mentioned in his post earlier today, Heron seem to have much scope to work outside the j/v agreement/s.
This is something that many may have overlooked.

Cheers,
Sally