Herencia Resources Share Discussion Threads

[steeplejack] 01/3/2016 11:49

Done.Farewell folks.....it's been emotional!

[steeplejack] 01/3/2016 11:34

I don't think that GS wanted Lind to interfere in the NEXT deal.On the contrary,Lind and Shining (who clearly disagreed with strategy when they resigned a seat on the board)are putting a spoke in the wheel.I would be very surprised if Herencia isn't taken private and frankly as small shareholders,we're almost certain to get stuffed.An AIM listing costs around £100,000 a year,throw in salaries,even at a reduced level,and the cash burn here is such that the deal with NEXT is barely keeping the wolf from the door.To do anything with Paguanta requires a large fund raising in a hellish climate and the money simply won't be forthcoming.I reckon that the whole Chilean experience is likely to be mothballed.

[stockready] 29/2/2016 15:13

please someone in this company come here and explain to decent shareholder why this stupid dummy is still in charge and left free to do more DAMAGE

does BOD are not responsible to protect shareholders and their investment in this company?
if that is so, how on earth they could sit around the same table as this dummy (GS) and support what he has done (or doing right now)?

how on earth they ever can justify that?

shame on BOD
shame on GS
shame on Chairman of this company who have put a total blind eyes on this dummy


they are all eating from the same pot and therefore backing each other, but law will be after them soon, this is totally illegal to keep a MD who have achieved nothing but only damaging the company and its assets,

they are all responsible and answerable to shareholders and soon they should come up with answer

SPEAK OUT guys, don't let these cowboys to sell this company and its valuable assets cheap

GS should be kicked out

GLA

[stockready] 29/2/2016 11:24

I like to hear a letter like this from the chairman

CHAIRMAN'S LETTER


Dear Shareholder,


On behalf of the Board I am pleased to report the incompetent CEO/MD of HER has been forced to resign because of his continuous failure running this company and to generate values for decent shareholders and wasting people time and money and the valuable resources of this company.

He agreed to return 3 years of his salary back to the company as a gesture of his incompetent performance and also apologies to all shareholders for complete mess he created here and he hope returning his salary would be a little gesture to show regretful he is for delivery ZERO value here and bringing this company to complete destruction as a result of failure to make a use of valuable asset and secure the attractive finance when the company was in the position to do so. Not to mention a disaster deals such as those made to Lind further damaged this company beyond repair.

we wish GS well and good career path in the future but hopefully not in mining industry and we hope he learned from his past experience.

we will appoint a new MD soon; someone with the capability to go beyond just digging and generate cash flow from already proven asset, someone capable to attract finance and JV which will benefit the decent shareholders here, someone capable to lead, someone with the ability to raise the profile of HER and deliver a excellent PR.

I would like to thank all the shareholders for their patient and their continuous support and the board apologies for taking time to take action against this incompetent performance and we promise this will never happen again in the future.

We hope we can have a new start and deliver excellent value to our shareholders

chairman

this is what I would like to hear from BOD

[martyn9] 28/2/2016 10:22

Thinking on the same lines steep.

[nevik2] 28/2/2016 07:12

Sad for you all that stuck it out. I cut my losses some time ago but still suffered losses. GS has a lot to answer for here, complete lack of meaningful progress and list after list of pointless bs.

[papillon] 28/2/2016 01:14

I bought some of these back in early 2013 when the company spiked up to over 1p on good news (can't remember what it was). Luckily I had a stop loss in place which limited my losses.

I'm not surprised that this has sunk below 0.02p. It looked so promising at one time, but the low copper price and low metal prices in general meant it was always going to struggle to survive. It's not alone; most of these AIM natural resource explorers are fighting for survival.

[steeplejack] 27/2/2016 19:54

The risk is that Lind and Shining with the tacit support of Nyrstar effectively put the company into administration and take it private.Sloan gets sacked and the company is as good as mothballed until better times.It's not as if any mines are going to deteriorate during a suspension of activity,no minerals have ever been mined,it's just been a series of drilling results.I suspect that the largest shareholders suspect that the Next deal is no more than selling family silver to pay management salaries.I'm wondering whether to simply sell and get a contract note (makes it simpler and more convenient to log the loss with the Revenue)or hang in to bitter end.Probably opt for the former next week.

[mostyn] 27/2/2016 13:27

From the last RNS:

"The Directors have received notice that its two major shareholders have indicated they are not supportive of the proposed Next transaction in its current form, however negotiations with one of the shareholders to provide a short term facility to the Company is well advanced. "


I wonder what form of transaction the 2 major shareholders would support. Whatever happens, I very much doubt that their solution involves unduly considering the remaining shareholders of the company. The rejected deal gives us £3.6 million over time, leaving according to the directors plenty of other prospects still within the company. I would be much happier if someone came up with a deal for the whole company, to allow everyone to walk away. It's difficult to see the current management doing any better a second time round.

[steeplejack] 27/2/2016 11:00

AIM is a unregulated casino.The NOMAD system isn't fit for purpose.I really don't feel that the NOMADs do more than go along with all that their companies propose.Last year,both Quindell and Globo,the high fliers of 2014,fell to earth.It is barely believeable that brokers missed all the warning signs.Bearing in mind that I don't think the NOMAD system works,I reckon there is little alternative but to tighten the listing requirements for AIM companies.It wasn't until Quindell attempted to gain a full LSE listing and Globo started entering the auspices of the SEC with a NASDAQ listing,that the whole fraudulent pack of cards came tumbling down.AIM as currently constituted simply wouldn't exist in the USA and studies by US universities have identified the AIM as unacceptably,poorly regulated bag of worms.You can't rely on the FCA to weed the AIM garden,just don't allow the seedier plants to grow in the first place with tighter listing requirements.

[steeplejack] 27/2/2016 00:18

Well,there are always contrarians and the likes of Lind are little more than pawn-brokers that bet that the endebted will struggle on to pay their dues.Ordinarliy that is a surprisingly good bet providing good returns on the proverbial council estate but on this occasion,it looks like the
good ol'Australian Special (let's lend a hand cobbler) fund have been kicked hard in the nuts.It happens.

Sadly,gentlemen,I think we can presume that we're well and truly kippered.Lost the lot.I've known as bad,I lost as much in GEC/Marconi when they went belly up after the tech crash in 2001,so we all know it's not just an AIM thing.

Thing is,that experiences like this make all investors more wary and overly regulated banks increasingly risk averse.I have some tulip bulbs for sale chaps,roll up!

[philgyuk] 26/2/2016 18:25

I always wondered why this company just went on drilling and drilling and sending samples for analysis without taking matters further. Bizarre action but time uncovers the truth.

[leedskier] 26/2/2016 14:38

I read that the French CEO of the London Stock Exchange is to retire following the merger with the German Stock Exchange and that it's CEO will head the new combined Company.Perhaps there may be changes in the way Aim is managed by the LSE.One change, which would stop the value destruction seen here (and elsewhere), would be for the LSE to create a panel of independent directors and for it to require Aim companies to appoint a director from the list. These directors could have a statutory duty to protect private investors and have a power of veto over Board decisions which in their opinion were not in the best interests of private investors.

[babycheeky] 26/2/2016 14:33

Oh dear stocky you do know how to pick them LOL

[steelwatch] 26/2/2016 14:00

The Company confirms today that it has received a $50,000 loan from Lind Partners, a substantial shareholder of the Company (the "Loan").

The Loan is interest free and repayable after 6 months and, subject to shareholder approval, will be convertible into ordinary shares at GBP0.0001. The directors believe that this will give the Company sufficient funds to continue trading until 7 March 2016. The directors intend that this time will be spent negotiating with Next and Herencia's substantial shareholders to agree a way forward for the Company. In addition, Lind Partners have indicated that they would be prepared to put in a further loan up to $200,000 by 7 March 2016, subject to further negotiations. At this stage there can be no guarantee that any furthers loan will be made or that the Company will be able to continue trading after 7 March 2016. Further announcements will be made in due course.

[valentine] 26/2/2016 13:26

23rd march the turn of a coin and 40% return?/sold out what seems like ages ago now

At a loss.

[martyn9] 26/2/2016 13:02

GS clear your desk FFS and sod off back to OZ.

[stockready] 25/2/2016 12:20

Martyn

Yes I agree

also let me remind everyone of the dodgy practice going on here,

when Oz told GS to FO and they pull out of the HER future projects, GS had a duty to release those data provided by OZ on drillings and exploration, but this nutter dummy did none of that! why? why we don't know the reason for Oz pull out? and why GS has not released those data?

is that data not a public knowledge ?

yes they put this crazy clown in charge to do what he likes but he is not ever going to succeed to pass NEXT deal through


something really fishy going on behind the scene and even people like CORBIN who trusted this nutter for long started to feel it


those who invested here sadly have no chance of recovering their money under the management of this crazy nutter


so when it comes to March voting, please make sure you are there and make your voice heard, I was going to go to tomorrow's meeting but can't make the March one as I am abroad,

GLA

[stockready] 25/2/2016 11:57

BASICALLY the big boys told this nutter to FO and get your act together
the NEXT deal to fill this guy (and other BOD) pockets WILL NOT HAPPEN AT THE CURRENT FORM

BIG BIG set back to this crazy lunatic who is destroying this company all over again.

NEXT deal is a bad deal and I said it on the first day like when I said LIND deal is bad for us, and guess what the big shareholders concluded the same

now this clown need to go and change the deal,

or he should resign completely and FO to Australia

GLA

[babycheeky] 25/2/2016 11:54

Oh dear stocky you do know how to buy some old dogs LOL