Ann: Woodlawn Zinc-Copper Project Update, page-3

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Berger978456

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12/03/19

09:48

Post #: 37728892
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Originally posted by Gringo141: ↑

Project Development Schedule:At the start of March, Heron was advised by Sedgman that the anticipated date for first ore to be fed to the process plant will be delayed. After seeking clarification on the extent of the delay, the Company now expects the start to ore processing to commence early in the second quarter with first concentrates ready for shipment in May.
Managing Director Wayne Taylor said,“Heron has been very committed to delivering on dates at every milestone of the Woodlawn Project development. As announced on March 4 2019, feeding ore through the plant is the only remaining step in commissioning the project .........We are naturally disappointed by this delay to our development timeline....

Ok, so from what I can gather, all is advancing in the right direction, with just a bit of a delay.

It does however make me scratch my head as to the logic applied by Sedgman in their decision to repeatedly submit progress claims over and above the GMP. If they knew that the delivery timeframe was going to overrun i'd have expected that they'd have wanted to smooth rather than antagonise the relationship with the aim to reduce any chance of being hit with LD's, unless of course i'm missing something?

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No I think you're right. Sedgman have f**ked up big time. Forcing delays means HRR have a real claim against them I would imagine.

HRR Price at posting: 62.0¢ Sentiment: Buy Disclosure: Held
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