# HRR - Heron Resources



## tarnor (11 April 2005)

*Heron HRR*

Any guesses where this is going to end up today? a lot of hype in the press, speculation that bhp is going for a full take over, nickel project..
 don't know much else about it.. missed buying on friday expect it to continue running hard today , might be some quick $$$. any thoughts


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## tarnor (11 April 2005)

*Re: heron HRR*

finished up near 30% with almost 10m turnover, closed a cent of its high, could break 1$ by the end of this week... 

missed this one unfortunately


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## Morgan (15 August 2006)

Anyone think HRR is worth placing on the radar given recent interest in Nickel?

Saw HRR discussed a year or so ago in an article of "resource companies to watch" (mentioned alongside PDN- then at $1.74).

Latest company open briefing has HRR spinning off gold and uranium assests to concentrate on Nickel.

Stock holdings by BHP and Inco. Steady accumulation by another.


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## mlennox (13 September 2006)

i'm pumping all my hard earned into this little ripper 10% owned by BHP 10% owned by Inco 25% owned by directors 165million shares on offer, JV with inco everything being paid for by INCO Heron takes a 40% cut of the profit i cannot say enough about this but im trying to buy up as much as i can before word gets out and this goes to 10bux! currently 66cents


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## Freeballinginawetsuit (17 October 2006)

Considering this one at the moment for tommorrow,charts are positive and fundamentally it has a bit of potential.

Anyone else considering HRR, ATM?.


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## Ranger (20 October 2006)

I have been holding HRR for a few months now with some nice gains. But it looks like the demand is starting to decrease.

Does anyone have any thoughts on where HRR might be going?


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## Ranger (2 November 2006)

I am glad that i held onto this one. So far today up 9.4%      

Does anyone have any inside news on HRR?


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## mmmmining (31 January 2007)

I finally have got some HRR. I chase this one all way up to over a dollar. I fell so stupid I should make my decision quick. But I am a lot more cautious when adding more resources stock given my extremely over-weight on energy and materials. 

HRR is a company has two huge deposits of Nickel, one of them JV with Inco, another its own.  

We are talking about over 3Mt contained nickel with in ground value at $120b!! A lot of company is luck enough to get 3Mt minerals at 1% . It is a prime target for any large producers. Inco and BHP are both on the share registry. 

Another company with a lot of resources is MLX, the merge between BTX and MTX, with close to 2Mt contained Nickel. They are all here in Aussie land, not like RMI, with over 1Mt nickel in PNG.


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## yachty7 (18 February 2007)

Bet you are pleased you jumped on board.  SP has gone from $.80 to $1.17 in last 3 weeks - a 46% rise.  Where are the headlines and where are the postings.  Nickel price hasn't moved much before and around that time, RBR (gold) has been spun off but its price remains at float price, so why the big increase and lack of commentry?  Any one got any ideas?


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## mmmmining (18 February 2007)

yachty7 said:
			
		

> Bet you are pleased you jumped on board.  SP has gone from $.80 to $1.17 in last 3 weeks - a 46% rise.  Where are the headlines and where are the postings.  Nickel price hasn't moved much before and around that time, RBR (gold) has been spun off but its price remains at float price, so why the big increase and lack of commentry?  Any one got any ideas?




HRR is not a targeted by day-trader. I guess a lot of people on the share registry are serious medium to long-term investors.

I always like to point it out the under-valued stocks after I have watched them, and sometimes purchased them. But I don't worry about lack of any interests from this forum at all. I would rather a stock without many day-traders involvement. (a few is OK).


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## CanOz (30 May 2007)

Why why why can't i short the ones that are so obvious?

Anyone else think that this is looking like a head and shoulders pattern?

Cheers,


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## CanOz (31 May 2007)

CanOz said:


> Why why why can't i short the ones that are so obvious?
> 
> Anyone else think that this is looking like a head and shoulders pattern?
> 
> Cheers,




Feel a bit silly thinking this was a short, check out the volume i missed

I must have thought it was the side of the chart! Now i'm thinking low risk entry!

Hmmm.

Cheers,


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## vjindal (14 September 2007)

Massive jump in last 2 days - Has anyone got any idea why this increase ?? My guess is that they are about to finish Pre Feasibility Report


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## The Barbarian Investor (15 September 2007)

I was told to look at this one yesterday by a friend; now I'm wondering *why* and *how* i watched it hit around 22% from open today and still wound up 20% above open


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## vjindal (26 September 2007)

Guys, 
Any idea why the price is shooting everyday ..Closed at 1.245 and saw a big parcel being picked up seconds before the close


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## vjindal (1 November 2007)

Can someone please explain me why Heron Resouces has underperformed in last 6 months when all the NICKEL stocks have rallied strongly.


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## greenfs (1 November 2007)

vjindal said:


> Can someone please explain me why Heron Resouces has underperformed in last 6 months when all the NICKEL stocks have rallied strongly.




Not so my friend. The enclosed Commsec Chart comparison between HRR & AGM to me shows that the pretty much mirror each other.

If you are thinking Jubilee (JBM), you have to remember:

(i) Shareholders received full value via takeover
(ii) JBM contniued to make ann which substantially enhance known nickel reserves


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## vjindal (1 November 2007)

I appreciate your comment ..But more so, I am referring to Sally Mallay Mining, Intependance Group, Minara, Mincor etc etc...
It seems HERON has tremendous potential but doesn't seem to move at all.


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## vjindal (7 November 2007)

$1.09 now - Inco agreed to proceed with STEP 3 of their JV - All positive signals now !!!  Pre feasibility on Jump Jump should be finalised by the end of this year - Should move from here on.


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## wideboythin (30 November 2007)

I am loooking at buying into this stock and while a fart about decidiing its gone up 30c. whats driving it? Any one got any ideas?

Thanks in advance.

Lost Greenhorn!


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## alphman (30 November 2007)

wideboythin said:


> I am loooking at buying into this stock and while a fart about decidiing its gone up 30c. whats driving it? Any one got any ideas?
> 
> Thanks in advance.
> 
> Lost Greenhorn!




You and me both.  I was contemplating this one when it was trading just below $1.00 a few weeks ago.  

Both CVRD-Inco and BHP-B are on the top 20 shareholders list.  BHP-B recently invested $17m+ in HRR at $1.15 which was at a ~10% premium to the price at the time.  A few days later, CVRD-Inco followed suit with the same.  Looks to me like big guns are about to play ball.  With the recent placements, both companies now own approx. 15% of the company each.  Last week Fat Prophets recommended HRR as a BUY at $1.12.

Heron has two significant Nickel laterite projects in WA:
 - Jump Up Dam, which is 100% owned; and
 - Kargoorlie Nickel Project, where CVRD-Inco is earning 60%.

Total resources for both projects is a whopping 987mt @ 0.74% Ni.

A great story is about to unfold here, IMO.  Unfortunately, I'm watching on the sidelines.


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## Miner (15 December 2007)

Fat prophets recommended as BUY at 1.12 (high risk), Eureka report reports that it is a take over target even if CVRD and BHPB have equal stake.
Laterite Ni percentage wise is not very high however.
Currently traded at 1.25 sp. May be market speculation.
Any expert view on this share ?

REgards


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## derty (30 January 2008)

Jump Up Dam heap leach project has been canned for the interim, pre-feas identified significant increase in capital expenditure. Now estimated to be A$681.9 M and operating costs of A$6.39 per pound of production. The site is placed on care and maintenance. 

The resource estimation process identified that the distribution of ore types was more complex than initially planned though the continuation of mining in the trial pit should iron out some of these bugs. 

BHP has increased their share by 1%, the Inco JV for the Kalgoorlie Nickel Project is continuing, however you would imagine that with Jump Up Dam halted the near term outlook for the share price is not great. Possibly some good buying opportunities ahead, keeping in mind ALL Ni laterite exploration/resource plays are LONG term if you are thinking staying in the stock until production.


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## traydor (23 February 2008)

Hi derty, just wondering were you heard they had trouble with the rescorce estimation. i do have a fair amount invested in this stock and i try to get as much information as possible. i read it this way.. the canning of jump up dam as a reason to increase the project using atmospheric leaching as this type of operation can produce up to 60,000 t a year versus heap leach 10,000t, because they have found more nickle the Yerilla District
at Jump-up Dam South, Boyce Creek, Aubils and Pianto Road. i just wonder if they realize thats you might as well build a bigger operation if you are going to fork out a heap of money (economy of scale sort of thing )...anyway any feed back will be welcome thanks traydor


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## traydor (25 February 2008)

Hi all I was wondering what anyone thinks of the prospects of heron being taken over as Ian Buchohorn is the major share holder, and if it did what would it be worth ...thanks


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## derty (25 February 2008)

A takeover is probably a very real prospect somewhere down the line, especially given that BHPB have increased their holding from 8.7% in June 07 to 14.7% at the moment and Inco have gone from 8.5% to 13.9% over the same period. Neither is letting the other get too far ahead and if and when the time came you would imagine it would be hotly contested. I am not totally sure of the mechanics of a take over but I think you need 90% to make the takeover and with IB, BHPB and Inco all having over 11% they have blocking stakes. IB is renowned for screwing down the best deal, so he wont be letting it go cheaply considering he has built HRR from the ground up.

Some one who knows the mechanics of takeovers would be able to let us know what the implications for a takeover are with respect to the current holdings.

traydor, I was chatting with a resource geo a while ago and they mentioned that  the distribution of the different ore types was more complicated than was originally envisaged. Complication can be managed as long as it is understood. It is good they have identified it now, much better than assuming a nice homogeneous ore only to find out during mining that there are large parts of it that cannot be processed. 

HRR have a huge resource, though as i said before the lead time on these type of projects is long and very expensive. As far as I understand the cost of the acid is what killed the Jump Up Dam heap leach. At Murrin they have a heap going but that is only economic due to the existing infrastructure present. As you said traydor, if you are going to spend $600M to make 10kt Ni/year  you may as well spend $2000M to make 60kt Ni/year.


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## stix1771 (20 March 2008)

Announcement out today, re-affirms (for holders) the potential resource HRR has on it's tennamants, lets not forget whilst the Heap Leach testing has been put into care and maintenance in favour of the Atmospheric option - trial mining is continuing to be stock piled confirming the company's drilling results and grades.

_Off HRR topic, but also note that MLM has signed an off-take agreement with BHP and a technical relationship (similar to HRR's recent agrrement with BHP)_


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## traydor (31 March 2008)

stix1771 said:


> Announcement out today, re-affirms (for holders) the potential resource HRR has on it's tennamants, lets not forget whilst the Heap Leach testing has been put into care and maintenance in favour of the Atmospheric option - trial mining is continuing to be stock piled confirming the company's drilling results and grades.
> 
> _Off HRR topic, but also note that MLM has signed an off-take agreement with BHP and a technical relationship (similar to HRR's recent agrrement with BHP)_




hi sticks, i was looking at the drilling results they posted and they are well above 1% grading i was wondering why when they say the total rescorce is 80 million tonnes at  .80% nickle i think they are finding more as when they were digging the costigan they had garnite which was holding 30% nickle in some parts anyway thanks for the post mate


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## traydor (23 May 2008)

hi all there was some good news on the leach results for heron i dont think the stopping of jump up dam was a bad idea after all....proof of a competent management team....thanks glenn


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## stix1771 (4 August 2008)

This is an interesting website: http://www.directnickel.com/index.htm

Makes specific reference to Heron, but not sure how authentic the site is. Anyone know?


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## traydor (7 August 2008)

stix1771 said:


> This is an interesting website: http://www.directnickel.com/index.htm
> 
> Makes specific reference to Heron, but not sure how authentic the site is. Anyone know?




hi stix that was an interesting article mate i,m just wondereing what all these major nickle producers think of this process ive never heared of them at all...if it was feasible you would think that they would be falling over there feet to get there technology thanks traydor


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## traydor (8 August 2008)

here you go stix what do you think of this ?IF JULIAN Malnic's latest venture lives up to his expectations he will have made an indelible impression on the mining industry not just once, but twice. His first breakthrough was with Nautilus Minerals Inc, which he set up in 1997 and is now well on the way to the commercial mining of high-grade ore from the sea bed. 
Nautilus shows so much promise that Anglo American plc, Barrick Gold Corp, Teck Cominco Ltd and Russian steel billionaire Alisher Usmanov, have paid millions of dollars for ringside seats at the undersea action. Mr Malnic has stepped away from Nautilus to focus on another innovative company, Direct Nickel Pty Ltd. He set this up with Russell Debney, a long time associate and a lawyer who has also been involved with Nautilus since the early days – and is still a director. Direct Nickel has a metallurgical process that Mr Malnic says will produce nickel from laterite ore at a cost lower than nickel produced from many sulphide deposits. He says both capital and operating costs will be lower. The socalled Direct Nickel (DNi) process could solve the global nickel shortage he insists, and “will challenge all other nickel processes”.

Mr Malnic’s claim is being met with some scepticism because it’s not so long ago that similar suggestions were being made about the High Pressure Acid Leach process (HPAL) to treat Australia’s nickel laterite ores. HPAL proved extremely difficult and expensive to bring into commercial production. He says: “Sceptics are my friends. That’s why we get independent studies to verify and cut risk. You can’t just walk in and say ‘I have something new and believe me it works.’ You have to persuade and offer quality science to the people you are trying to influence.” 
And Aker Kvaerner of Toronto has already completed a pre-feasibility study for the DNi process. Mr Malnic says his association with Nautilus, another highly innovative venture, helps open doors and dampen scepticism about DNi. Mr Malnic can thank one of those inevitable troughs in the industry’s economic cycle for his crack at the Nautilus opportunity.

A geologist by training, he had turned to resource journalism to earn a living. In March 1993, while editor of The Miner, an Australian monthly, he interviewed Ray Binns, a geologist who had been trying, unsuccessfully, to persuade the Australian government to let him expand his work exploring the sea bed. Dr Binns was employed by the Commonwealth Scientific and Industrial Research Organisation (CSIRO), searching for Black Smokers. These are chimney-like structures formed when mineral-rich, magma-heated fluid shoots up through the earth’s crust and is then quickly cooled by sea water. The first rocks Dr Binns recovered from an extinct smoker 1,600 m deep off the southern tip of Papua New Guinea, contained 20% copper, several percent zinc and 10 parts per million of gold. 

Dr Binns thought a way could surely be found to mine such high-grade material. But Australian officials were interested in his work only as a way of providing a guide for finding landbased mineral deposits. Mr Malnic listened to Dr Binns’ story and made a note of the location of the smoker. After lengthy research into law and technology – which convinced him that mineral rich deposits formed mainly in deep water – in 1995 he posted exploration licence claims to the Papua New Guinea government – which in Decenber 1997 awarded him its first-ever underwater exploration claims. These very areas contain the Solwara projects in PNG’s Bismarck Sea which Nautilus hopes to start mining in 2010. But Mr Malnic met as much resistance to the idea of undersea mining as Dr Binns before him. It was pointed out that in the 1970s about US$700 million had been spent in an attempt to mine manganese from deep below the sea’s surface – but these ultra-deep deposits didn’t offer high enough metal grades to be commercial. 

In response, Mr Malnic argued that technology had raced ahead since the 1970s – the oil industry, for example, now had remotely-operated vehicles able to view, dig and drill material at depths down to 3,000 m below surface. 

New Partners
Mr Malnic owned 100% of Nautilus until 1997 when he was able to convince two seasoned industry people to join the board – Mr Debney and Geoff Loudon, who, among other things, was founder and chairman of Niugini Mining, discoverer of the Lihir gold deposit in PNG. Mr Loudon is still Nautilus’ chairman.

Mr Malnic recalls that, because there was limited money available: “I did research, I worked with other researchers, sailed on the ships with the researchers and staked new areas in PNG, Fiji and Tonga.” In 2002, Mr Malnic brought in David Heydon, another geologist-turnedentrepreneur, to be Nautilus’ chief executive. Mr Malnic says of Mr Heydon: “He has achieved what I hoped he would achieve [with Nautilus].” Having brought together the key people to take Nautilus forward, Mr Malnic left the company in April last year when it listed in Toronto. He has sold some of his original stake – partly to help set up Direct Nickel, but also because his family home in Sydney was burnt to the ground in January this year, “a harrowing experience,” he says. But he still owns about 3% of Nautilus, shares currently worth about C$14.5 million. Mr Malnic, now aged 51, was born in Sydney. After graduating, he deliberately steered clear of starting a long-term career with one of the major mining groups – “I have always been unimpressed by the attitude of big companies.” He preferred “to survive drilling escapades in wild country,” drilling mainly for gold in Fiji as well as the Torres Straits and the Great Dividing Range in Australia. For a time, he ran his own consultancy and in the mid-1980s staked a big magnetite deposit near Munduberra which he sold “not for a fortune but enough to buy me a house”. The deal also “established in my mind that enterprise was the place for me”. 

Reform in the spotlight 
In 1996, he gained attention in his home town by drafting a paper suggesting how the Australian Institute of Mining and Metallurgy should be reformed. “So many people had been complaining about the Institute that I decided to do something about it.” He first showed his work to The Australian newspaper instead of the Institute. The headline said ‘Institute Gets Dinosaur Warning’ and consequently “that made me the most unpopular man on Earth”. He says that at that time there was a demand among Australia’s mining professionals for more debate about cultural and current affairs but the archaic AusIMM outlook and constitution could not cope with this. So Mr Malnic set up the Sydney Mining Club where industry people could meet every month to hear speakers on a wide range of issues. 

He says: “We have a unique ‘come once and be a member for life’ philosophy, recognising that mining industry people belong together no matter what.” Following the success in Sydney, where Mr Malnic is chairman, he assisted in the creation of the present Melbourne and Brisbane Mining Clubs. And two years after he wrote his ‘Blueprint for Reform of the AusIMM’, the Institute made the first changes to its constitution in 102 years. Mr Malnic’s involvement with Direct Nickel started when a metallurgist contact put him in touch with an industrial chemist in the US who had been working on the technology for some time – the DNi Process has been 15 years in development to the present pilot plant stage. It is claimed that DNi is an environmentally friendly, hydrometallurgical process for treating nickel bearing laterite ores at a moderate temperature and atmospheric pressure.

Mr Malnic claims the economics are “far superior” to those of HPAL, the Caron Process and ferro-nickel smelting. A 5,000 t/y DNi plant, using readily available equipment, would cost US$150-170 million, and US$350-400 million for a 20,000 t/y lant. Mr Malnic says: “I can hardly believe I have an opportunity of this magnitude following an opportunity as big as Nautilus.”

Julian Malnic / Direct Nickel - original Mining Journal article (pdf)


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## traydor (12 September 2008)

just wondering what anyone thinks of the latest hrr release ......i think the atmospheric option was definatly worth the wait and its seems alot easier on the equipmet as well less heat and pressure anyway thanks


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## traydor (12 September 2008)

just wondering what anyone thinks of the latest hrr release ......i think the atmospheric option was definatly worth the wait and its seems alot easier on the equipmet as well less heat and pressure anyway thanks


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## Garpal Gumnut (12 September 2008)

traydor said:


> just wondering what anyone thinks of the latest hrr release ......i think the atmospheric option was definatly worth the wait and its seems alot easier on the equipmet as well less heat and pressure anyway thanks




I am a chartist, so know nothing about releases etc.

It has a nice bottoming pattern. If it recovers to go up over 45c, it may be worth a punt.

gg


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## traydor (13 September 2008)

Garpal Gumnut said:


> I am a chartist, so know nothing about releases etc.
> 
> It has a nice bottoming pattern. If it recovers to go up over 45c, it may be worth a punt.
> 
> gg




hi garpul thanks for the reply, i brought some more at 35c and yep it does seem to be holding its the best price i have paid in 2 years i could have waited until now but anyway live and learn thanks for the chart


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## stix1771 (10 December 2008)

January and Vale's decison on Stage 3 is all that is keeping me interested..........................


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## ricee007 (3 May 2009)

Howdi Everyone, first time poster.... 3 week lurker...

Anyone able to offer some foresight into HRR?

The latest reporte kept pushing how if Vale declined to continue, then HRR would seek another partner.... it almost made it seem like they expected Vale to decline to continue... which scares me.

BUT, *IF* Vale continues....
HRR has one of the best deposits in the world, with one of the lowest costs of production in the world...

IIRC, Break-Even is around US$8.20 per pound... with variable costs of around $4.50, (but then fixed costs, etc). Am I imagining things, is this old news, or?

Nickel is about $5/pound..... but, can only really go up.

Anyone have an opinion on HRR?
Or if Vale will continue the project?
Are there still rumours of BHP putting up a take-over bid?
Anyone else think $10 is still achievable in 3 years time?
Anyone accumulating?
Anyone got thoughts on short, medium, long term prospects?
Anyone think there is a risk of administartion?
Or the effect on shareprice if Vale continues / doesn't continue?
Anything?

To me, this is a fairly high risk, lowly research, fairly illiquid stock...

Does this mean that the market hasn't necessarily fairly priced it (due to it being high risk, int his environment...... *AND* because there isn't as many analysts researching it)... and because of the liquidity preference theory?

I've held since they were last at $0.57 (or thereabouts) (and on the way down), so I clearly bought in at the wrong time. But, I did buy in expecting to hold for 3 years (1-2 years ago).... the GFC has just seemingly set back that 3 years by a year or so....

Cheers,
Rhys


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## ricee007 (11 May 2009)

Well well well..

Nickel price / pound has jumped from around US$4 to over $6!

The variable costs are around $4.42 for HRR's main mine...

Look at the graphs available at 
http://www.metalprices.com/FreeSite/metals/nickelalloy/nickelalloy.asp

Especially the one year nickel price graph...


I envision a jump in SP following, due to the increase in nickel price.


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## ricee007 (21 May 2009)

Oh how wrong I was...

HRR announced a very bad announcment today.

i can't bare to look at Commsec, but last I saw was -17%.

Vale withdrew from the PFS.


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## ricee007 (30 May 2009)

Very, very nice announcment for HRR... and the market responded accordingly.

I see so many buying opportunites; but I just don't have spare cash at the moment. Sigh.


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## ricee007 (2 August 2009)

And I would just like to point out that Nickel is currently above US$8 a pound... (and there is a just released Quaterly Activities / Cash Flow Report)....


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## ricee007 (26 October 2009)

lol at how far we have come since august first. Currently at 29.5cents. I don't know exactly, but i would imagine this is around 50% higher... volumes also picking up. I guess people are hearing of hrr. Consistently around 8 times more buyers than sellers....


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## Gringotts Bank (9 February 2011)

Someone should take over this company.  Nothing happening, plenty of cash.


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## Gringotts Bank (2 March 2011)

Ah good, the takeover is happening.   (jk)

Market likes the divestment I guess.


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## ricee007 (8 December 2013)

Goodness gracious me. Share price is still languishing.

At least, this time, I topped up (think it was at 14c, but don't quote me).

I believe the company is ridiculously undervalued... but, there is still a risk that shareprice won't be valued appropriately until the medium term.


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## frugal.rock (11 February 2020)

So SKY, a farm in for Heron went up yesterday on news of 2 good drill holes results. Up 250% at one stage, settled on around 120% up.
No symbiotic movement for heron yet. Probably need a few more ducks lining up, like the price of zinc needs to go up.
Will be back to keeping an eye on Heron.
F.Rock


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## Trav. (30 April 2020)

May Tipping Comp Entry

I see that there has a been a bit of action in April and I am hoping for a bit more in May  with COVID-19 issues setting down a bit

Trending up and some big volume spikes. Operations suspended due to COVID-19 in late March so interesting action during this period.


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## System (31 May 2022)

On May 27th, 2022, Heron Resources Limited (HRR) was removed from the ASX's Official List at the request of the Company and in accordance with Listing Rule 17.11, following completion of the deed of company arrangement as outlined in the announcement cross released onto HRR’s platform by Develop Global Limited dated 20 May 2022 titled _"Completion of Woodlawn purchase paves way for Develop to implement exploration strategy"_.


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