Think I bought some initial HER.TO around $.15 and has just drifted down to $.10 over 6 months as everyone waits for the PP to build the mine.
They have an EPC agreement inked and the zinc/copper/other concentrate offtake inked so it is only a matter of days until the project finance agreement is announced as these all occur in tandem. The latest news are linked from here:
I may have talked to them at the Vancouver Conference (I remember hearing 70:30 debt/equity for financing). Per page 8 of their PDAC presentation they have a peak cash requirement of AUD$ 163M. They had AUD$ 16M @ Dec-31. Assuming they keep the current cash balance as a buffer at 70:30 they'll have to raise 30% or $AUD 50M. Market hasn't been buying for months waiting for the PP and of-course dilution. Australians do funny things with penny stocks though mate so I'm waiting for the announcement.
This is the best near-term investable zinc mine in the world in the highest quartile of grade and lowest quartile of cash costs. It should do well after project financing is inked. I would buy more then.
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