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Sedgman Progress Claim Received – Exceeds Guaranteed Maximum Contract Price by $49.9 million

Heron Resources Limited (“the Company”) advises that after the close of business on Friday 1 February 2019 it received a Progress Claim from Sedgman Pty Ltd (“Sedgman”), a wholly owned CIMIC Group Limited company, for additional costs of A$49.9M.  This claim amount is over and above the agreed A$109M Guaranteed Maximum Price EPC contract sum that forms the basis for the construction of the Woodlawn Project.  The Progress Claim is inclusive of the earlier Notice of Claim for A$11M received from Sedgman on 18 October 2018 (Quarterly Activities Report September 2018, announcement released 30 October 2018), which the Contract Superintendent has previously rejected.

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For further information regarding Heron Resources, please visit or contact:
Heron Resources
Mr Wayne Taylor
Managing Director and CEO
Tel: +61 2 9119 8111
Copyright © 2019 Heron Resources, All rights reserved.

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