Heron Resources (HRR) is an example of a (primarily) Zn explorer...

Heron Resources (HRR) is an example of a (primarily) Zn explorer with a large and clearly economic resource

It wasn’t able to secure debt finance to fund mine development and ultimately felt it had no choice but to dilute the register to oblivion (followed by a consol) to source the mullah it needed

Retail holders were washed out big time, although some of the existing institutions were coaxed into supporting the deal with sweeteners

The mgmt that struck the deal remain in their roles, doing their jobs and pulling in salaries etc. For those that saw their gigs as paid employment rather than an investment vehicle (ie with relatively small holdings or SP-linked remuneration) the outcome was not necessarily a bad one

I think this has all been mentioned in this forum before, but prob bears repeating as a cautionary tale