Following the Company’s announcement on Friday 28 March 2014, Golden Cross is pleased to confirm receipt late that afternoon into its bank account of $1,879,853 from Heron Resources Limited. The Company will today allot 375,970,579 fully paid ordinary shares at $0.005 per share to Heron.
Ian Buchhorn is thus elected a director of Golden Cross with effect from today’s date by reason of the vote by shareholders at the extraordinary general meeting last Thursday.
“We are very pleased to have a geologist of the calibre of Ian Buchhorn join the board,” says Golden Cross chairman Steve Gemell, “and look forward to HQ Mining and Heron’s joint support of our exploration programs. The presence of two well-financed and active companies as significant shareholders should work very much to GCR ‘s advantage, particularly as both HQ Mining and Heron have expressed commitment to advancing our flagship Copper Hill project.”
Ian Buchhorn, managing director of Heron Resources, says “I am most heartened by the strong GCR shareholder support for the planned drilling at Copper Hill. I have held Copper Hill at the very top of my Australian porphyry copper-gold targets since I first worked there in 1982, so I am most excited about the upcoming deep drilling program.
“I must compliment Golden Cross Resources, and the team originally put together by David Timms, which has built the resource to 493kt of copper and 1.33Moz of gold in ground. With the Heron capital injection, we will see what is happening at depth, and determine whether some Northparkes or Cadia-Ridgeway-style geology exists below the currently defined resource.
“I am excited about the team, the challenges and rewards, and the momentum which is now building at Golden Cross.” An Appendix 3B follows. The Company will shortly publish a current list of the top 20 shareholders of Golden Cross.