ASX-listed Heron Resources is facing a near A$50-million cost overrun at its Woodlawn base metals project, in New South Wales.
Heron on Monday reported that the company had received a A$49.9-million progress claim from contractor Sedgman, which was over and above the agreed upon A$109-million guaranteed maximum price engineering, procurement and construction (EPC) contract sum that formed the basis for the construction of the Woodlawn project.