Heron completes Woodlawn draw-down

ASX-listed metals developer Heron Resources has completed the draw-down of a $16-million silver stream prepayment from Orion Mine Finance, to help fund the development of the Woodlawn zinc/copper project, in New South Wales. The silver stream prepayment forms part of a A$240-million project finance package, which also includes an equity subscription agreement with a subsidiary of existing shareholder Greenstone Resources and coinvestment parties for A$42-million and an equity subscription agreement from new cornerstone equity investor, Castlelake, for A$33-million.