Herencia Resources Share Discussion Threads

[letmepass] 15/4/2016 11:25

Watch this rebound this afternoon.. People always sell too early

[stockready] 15/4/2016 11:18

Things will not get better for us,

the company is in turmoil
Lind bought us cheap and they practically a big winners here, just by selling the lands and assets they will make millions and that is what they are going to do...we as shareholders will be left with NOTHING, ZILCH in fact.

it should be full investigation to the conduct of GS and that dodgy chairman

they sold us cheap guys,

[steelwatch] 15/4/2016 10:44

Board Changes

Loan Update

Further to the announcements of 5 April 2016 and 14 April 2016, the Company confirms that following receipt of the security documentation over the Company's assets, the Australian Special Opportunity Fund and Oriental Darius Co. Ltd have advanced to Herencia, US$100,000 (Part 1 of Tranche 1 of the Loan of up to US$500,000, the details of which are set out in the announcement dated 5 April 2016).

It is anticipated that a further US$100,000, being Part 2 of Tranche 1 of the Loan, will be drawn down shortly and a further announcement will be made at that time.

As previously stated, the directors believe that the funds from Part 1 of Tranche 1 will support the Company's working capital requirements for approximately a further week and the funds from Part 2 of Tranche 1 will support the Company's working capital requirements until end of April/early May 2016.

The directors are not aware of any reason why Part 2 of the Tranche 1 monies will not be drawn down but there can be no guarantee at this stage.

Further updates will be provided in due course.

Board Changes

The Company also announces today that Graeme Sloan, Chief Executive Officer of Herencia, has given notice of his intention to step down as a director of the Company. In order to ensure the Company's current plans are not interrupted Graeme has confirmed he will not leave the Company until 30 June 2016 in order that a suitable replacement can be found. It is agreed that Graeme may leave earlier if the handover to a new Chief Executive Officer is completed prior to 30 June 2016 and further announcements will be made at that time.

The Company confirms it has started a search for a replacement Chief Executive Officer and further confirms it intends to appoint Mark Bolton as a consultant to assist in the handover process and the identification of a potential replacement. Mark has more than 25 years' experience in the resources industry covering many commodities and jurisdictions for both junior companies and large multi-national mining houses.

Chairman, John Moore, said "Graeme has taken this step reluctantly but personal issues have forced him to consider his options. I want to thank Graeme for his leadership during a very difficult period for commodity prices and mining companies generally. Circumstances required Graeme to spend much more time in Chile than originally anticipated and the Company is grateful to him for the dedication he has shown in striving to deliver the best outcome for all stakeholders".

[rookieinvestor80] 15/4/2016 10:40

Cpap man you are as thick as you sound u muppet

[cpap man] 15/4/2016 10:09

The market likes the news out of HER and that is all that counts in my book!

[martyn9] 15/4/2016 09:59

GS will be waiting for his well earned golden handshake!!!! LOL.

[fenseal3] 15/4/2016 09:50

cpap they are spending over 300k a month, this is still not the done deal as yet, and why has sloan stood down now and not last week, all very odd.

[cpap man] 15/4/2016 09:45

HER moving ahead strongly now on the back of the funding news

[steeplejack] 15/4/2016 07:46

Whilst I no longer hold this stock,it's still very interesting to follow the company's struggle for survival.There's a little cameo of the desperate plight besetting the worldwide mining industry here.For example,banks in the US are reluctant to pull the plug on shale gas producers because they would be forced to crystallise losses.There is a widespread reluctance to "mark to market" as regards investment exposure to commodity production in general.Thus,Lind and Oriental are prepared to lend money to Herencia if only to disguise a pitiful investment and parry criticism from whoever they ultimately have to answer to.If you start selling swathes of stock for 0.01p,the company is,in reality,disappearing up its own backside!It's highly improbable that Herencia will actually generate earnings.If you buy this stock,you're banking that you'll make a few bob on asset sales.Lind and Oriental are banking on selling the whole shooting match when things improve a tad.The trouble is,salaries,listing costs have to be paid so will there be any money left at the end of the day.

[cpap man] 14/4/2016 15:06

Hey fenseal3 you just might have got it wrong with HER

Whilst steeplejack makes an interesting point the outcome could well be very different with HER

[letmepass] 14/4/2016 14:53

Good to see the volume picking up again

[letmepass] 14/4/2016 14:40

Just bought a few more but not showing, why do they do that?

[fenseal3] 14/4/2016 14:36

Something has leaked!!!

[letmepass] 14/4/2016 14:31

News coming, fill yer boots, 1p+

[fenseal3] 14/4/2016 14:21

There is that 1 share trade, you could not make it up!!

[fenseal3] 14/4/2016 13:52

This has gone from 0.02p to 0.08p then back to 0.03p in the blink of an eye, as always the ones in the know have had the nudge nudge wink on this again....are we seeing buys before the news!!

[fenseal3] 14/4/2016 13:46

I sold here but maybe i have got this wrong, seems like the buyers are coming back, interesting!!!!

[steeplejack] 11/4/2016 10:17

Shareholder InterestIf Oriental was to convert all its convertible interests in the Company, including those interests set out in this announcement then, in addition to its current shareholding it will hold 5,095,104,895 Ordinary Shares in the Company representing 36.25% of the total issued share capital in the Company. In addition, if Lind Partners was to convert all its convertible interests in the Company, including those interests set out in this announcement, then in addition to its current shareholding it will hold 5,420,146,101 Ordinary Shares representing 38.56% of the total issued share capital of the Company.So in reality,the company is 75% held by Oriental and Lind Partners should they decide to convert their interests.Herencia has been as good as taken private latterly at a price of only 0.01p!

[caledoniaman1] 10/4/2016 21:55

Yep, still locked in with the rusky mafia lol !!

[martyn9] 10/4/2016 10:58

Cal, i hope your well? still invested in our favourite UEN!! the problem is the government is as bent as AIM.