2000 Annual Report - Heron Resources Limited

5.0 Continued
Financial Statements
NOTE 12. SHARE CAPITAL
Economic Entity
Parent Entity
2000 1999 2000 1999
$ $ $ $
Issued Capital
90,958,872 (1999 : 69,600,000) ordinary Shares 21,676,342 15,830,001 21,676,342 15,830,001
Less: Capital Raising Expenses (306,841) - (306,841) -
21,369,501 15,830,001 21,369,501 15,830,001
Movements in issued and paid up capital of the parent entity during the year are as follows:
2000
Number $
Balance at beginning of year 69,600,000 15,830,001
Issued during the year 10,440,000 3,132,000
Issued during the year 768,872 176,841
Issued during the year 10,150,000 2,537,500
Balance at end of year 90,958,872 21,676,342
On 17 September 1999 the Company entered into a Strategic Alliance Agreement with Centaur Mining & Exploration Limited.
The Alliance supports the planned Stage II expansion of the Cawse Nickel Project to a production level of more than 40,000
tonnes per annum of LME grade nickel. Pursuant to the Agreement the Company received $3,132,000 and granted Centaur
Mining & Exploration Limited an option, at no additional cost, to call for the issue of 10,440,000 Shares in the Company. On
28 September 1999 Centaur Mining & Exploration Limited called for the issue of the 10,440,000 Shares, which Shares have
since been issued.
768,872 Shares were issued to a nominee of Carmichael First Capital Pty Ltd pursuant to the terms of a capital raising
mandate as a negotiated success fee, which was crystallised with the Heron-Centaur Strategic Alliance.
Options
10,000,000 Options expiring on 30 June 2000 exercisable at 25 cents were exercised during June 2000. Shares were
allotted and issued to Optionholders on 13 July 2000.
150,000 Options expiring on 15 December 2001 exercisable at 25 cents were exercised during June 2000. Shares were
allotted and issued to the Optionholder on 13 July 2000.
As at 30 June 2000 there were a total of 1,690,000 Options on issue as follows:
Number Issued Expiry Date Exercise Price
125,000 28 August 2001 25 cents
150,000 01 September 2001 25 cents
350,000 15 December 2001 25 cents
65,000 05 March 2002 25 cents
200,000 19 December 2002 25 cents
200,000 19 December 2002 35 cents
200,000 19 December 2002 45 cents
200,000 19 December 2002 55 cents
200,000 19 December 2002 65 cents
Heron Resources NL Annual Report 2000
page 53