Thanks for your reply. After the current study is completed (I doubt very much that it will be before) Heron will have to make some major announcements to take it to the next level. To buy in at the current price (which has been in 26 -30 odd range since September 2004) is not as big a risk as many others. At least Heron have a huge proven high grade resource. I also believe that Heron shareholders will once again soon benefit from another spin off.
The major shareholder is no fool and is determined to see this venture operating. A pipe dream? well maybe, but I very much doubt that they have been pushing ahead at great expense just for the sake of it and still debt free.
It must also be remembered that the largest Chinese nickel producer thought it worth a special visit by six of its staff to Heron about 3 years ago when Heron's resource was about one third of its current resource. China cannot be discounted as still being interested particularly in view of the major increase of the current high grade resource.
Think about this, Heron could have concentrated on its resource 3 years ago but they chose to continue increasing that resource to the gigantic proportions that it is today. Why would that be???
They have tied up control of the whole region. Now that's an interesting strategy.
As far as I am aware Heron are currently running a little behind schedule.
Interesting times ahead and of that I feel certain.
Good luck Stoss!
HRR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
