nickel prices fire up global rivalries, page-14

Hi Stoss,

Don't know where you have got your figures from.
Go to Heron's last quarterly (which was released Monday last) and there you will find (amongst other good news) the following highlights.

* The Kalgoorlie Project (KNP) has achieved a significant milestone. Inco Limited, the worlds second largest nickel producer, has agreed with Heron to form a joint venture to evaluate and, subject to feasibility studies, develop the KNP.

* Inco has the right to sole fund evaluation programs to the completion of a Bankable Feasibility Study, to earn 25% in the KNP tenements. Minimum estimated expenditure subject to successful technical programs, is US$68 million.

* Inco may commit to project construction including securing of project finance to earn 60% in the KNP Tenements.

* Inco will have a right to 100% of Heron's off-take rights on commercial terms.

* Heron's contribution to project funding prior to KNP becoming cash - flow positive WILL BE CAPPED at 4.5%
of total capital expenditure. Inco will provide loan funding for the remainder of Heron's equity funding obligations.

I don't know if you understand fully how good this deal is for Heron and I know that you were emailing the company direct??


If you haven't received a response then change the subject heading and keep sending with a request for a read receipt. They have been flat out....as one would expect.

Sally.