From my recollection Joe Gutnick attempted the takeover of Heron to ensure future feedstock for Cawse and I believe also for a Cawse "extended" but of course this never eventuated. If POS are on the chase for Cawse which it has been mentioned is the case, I haven't researched exactly what POS have in the way of a long term resource, although I believe their grades are good and I don't know what the trucking distances are between the POS resources and Cawse.
As for Bulong, it is interesting to note that the origial litigation over Bulong was between Lion (the previous owners of Cawse) and Heron and when Norlisk took over Lion and gained Cawse in the process, they have continued to fight in the courts for Heron's Bulong tenements.
The court battle like most has been a long process and a final ruling cannot be too far off. I believe Heron paid for the Bulong tenements in good faith and it is very possible that POS would also want Bulong.
As to "the dispute over Bulong holding the key to some future deal with Heron", you could well be correct and the current litigation could be what is holding up any final decision by Norilsk with POS over Cawse. Norilk most probably has some form of obligation on it over the Bulong plant, which it now owns as a result of taking over Lion.
You are probably right that it would make some sort of sense in teaming up Cawse and the KNP down the track but distances could be a problem.
HRR Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
