not good news for heron holders, page-21

Rockford.

Firstly take all your points on board!

Secondly i have a reasonable idea on the management, i have spoken to them on numerous occasions.

The end result will be the same, nickel will eventually be extracted from the ground, though i now doubt Heron will control the ground, it appears more likely that once the resources are proven up BHP will JV Jump Up Dam or takeover HRR. I guess they may wait may wait until the delivery of the pre feasibility study on KNP by Vale (CVRD)

So I will sit and wait for for that event.

I doubt HRR is capable of delivering on Jump Up Dam on their own, this is evident by the time wasted going the heap leach path when costs have impacted on a desirable return on investment.

I don't care what anyone says, management knew the costs well before it was revealed to us, hence the need to utilise BHP expertise and to HRR credit gaining the licensing arrangement to use BHP laterite technology.

I guess Atmospheric Option wasn't considered at the time because the knowledge wasnt there. So at least that issue has been solved.

reading up on atmsopheric leaching, the benfits are obvious, nickel extraction in days rather months (8 to 9 months).

having said that i did reduce my holdings this morning by 35%, 35000 shares. The rest remain as a hold.