Inital buy at $.16, has drifted down to $.13 while zinc has gone from $.90 to $1.05 close this week.
Heron not going anywhere until equity portion of project finance raise is complete - that is what is holding the share price down.
Heron is now a strong "watch and monitor" until the financing package comes through. When it is announced it could be a "back up the truck" story if Zinc breaks through $1.10 barrier in next two weeks as it is the next-best-pure-zinc-play story to Trevali on either the TSX or ASX as an emerging producer. Trevali went from mid 0.60s to $1.04 this week for me! Hope others also bought.
Offtake will be vital to project finance package of course. They way the market works is LSE pricing is typically paid so Heron should be able to maintain zinc leverage upside. Heron is a small part of the global market and should not impact Wood Mackenzie's forecast of Zinc going to $USD 3800 tonne in next two years on supply deficit crunch. This is roughly equivalent to $USD 1.90 vs. current pricing of $1.05 on LSE.
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