Herencia Resources Share Discussion Threads

[haydock] 01/12/2014 10:09

Pleased with the progress, that is the main story/hope for HER.

Must admit puzzled by the Guam drill releases, if they can only find such low levels of minerals, did they drill on the very edges of any modelled deposit ?

The levels declared do not have any indication of the type of prospects that must have attracted a whale like OZ to get involved.

We gain a lot of free work & must be able to add this to the original drill results, so what do we have there for the future ?

[corbine] 01/12/2014 09:51

Production at PIcasso 12 months from now? cashflow after all these years 12 months from now?
If that happens? you guys think hers mcap will still be down at these levels? obviously some hurdles to come and the funding question including how does herencia take the remaining % of title to picasso?
IS there a possibility it stays at that level and a deal worked with the other party? or should herencia get on with acquiring the remaining % for more longer term benefit with income stream? (assuming jorc/feaso/permits/fundies all come together)
Just asking, Corbs..

[friendzarin] 01/12/2014 09:35

Whoops.Thanks Steel.Will amend some of the verbage in the post accordingly.
Can only agree with thrgef that is disappointing.

[steelwatch] 01/12/2014 09:13

Frienz - Oz pulled out of Guam according to today's news :(

[friendzarin] 01/12/2014 09:03

"This is truly an exciting time for Herencia shareholders,"

Not perhaps Graeme's best use of language.Finding a pulse amongst Herencia's long term holders might be a start.

Anyone going on Wednesday.I went last year and reported back but can't make it this year.I would be interested if some information funding/dilution re progressing all projects and what if any future he envisages for Guam.He has consistently held a mantra of no shareholder dilution since he came on board and quite honestly he has not delivered on that front.

I think the tone in terms of questioning Graeme this year should be much firmer.I know he increased his personal investment but even if you just look at a continuation of his salary that only makes good financial sense from his point of view.

Good luck to all holders and lets hope 2015 finally brings in some sustained share price appreciation against the assets there to be exploited.

[thrgef] 01/12/2014 08:46

Dissapointing re Guam, looking forward to the silver grades!

[martyn9] 01/12/2014 08:21

I rest my case.

[liquid millionaire] 01/12/2014 07:45

01 December 2014

Herencia Resources plc

("Herencia" or "the Company")

Picachos Drilling Confirms High Grade

Copper Mineralisation

Stage II RC & DD program approximately 50% complete

Highlights

-- Initial assay results from the current drilling program have confirmed high copper grades and broad mineralisation widths continue at the Picachos Copper Project in Chile

-- Supports the high copper grades achieved in the previous drill program in mid-2014
-- Initial results include:
Reverse Circulation ("RC") Drilling

o Hole PP14031 22m at 1.50% copper from 74m including:
-- 11m at 2.34% copper from 76m

o Hole PP14031 18m at 1.59% copper from 110m including:
-- 12m at 2.07% copper from 110m

o Hole PP14032 22m at 1.23% copper from 138m including:
-- 9m at 2.22% copper from 144m

Diamond Drilling ("DD")

o Hole DD14001 12m at 1.04% copper from 86m including:
-- 6m at 1.45% copper from 92m

o Hole DD14001 17m at 1.12% copper from 102m including:
-- 6m at 1.84% copper from 113m

o Hole DD14001 28m at 2.04% copper from 142m including:
-- 23m at 2.32% copper from 147m

-- Results confirm Picachos has both near surface high grade copper mineralisation (as seen in the current active mine areas) and wide high grade at depth (23m at 2.32% Cu from 147m)

-- All results from the 40m Shaft zone area where open pit mining is currently targeted for commencement in 2H2015

Herencia Resources plc (AIM:HER), the Chile-focussed mineral exploration and development Company, is pleased to advise that the initial laboratory assay results from drilling at its advanced Picachos Copper Project ("Picachos" or the "Project") have returned extremely encouraging results from the first holes drilled.

The drill program is designed to provide information that will allow the preparation of a Mineral Resource Estimate in early-2015, which will underpin the completion of a Mine Feasibility Study in 1Q/2Q2015. These continuing high-grade results come from the 40m Shaft area that will potentially support open pit mining commencing in 2H2015.

The QA/QC process used to record the drilling results includes collecting and recording 10kg and 20kg one metre and two metre samples respectively, over the entire length of the drill hole with the one metre samples confined to the mineralised zones. The samples are visually logged by the onsite Company geologists for geology and mineralisation and hand-held XRF ("XRF") samples taken over the mineralised zones. The individual samples are then transported and submitted to an accredited analytical laboratory (ALS) for assaying.

A table of significant assay results reported by the laboratory is shown in Appendix 1.

The current drill program is scheduled to conclude in December, with all assay results expected to be received by the end of December 2014.

Managing Director, Graeme Sloan, commented on the high-grade drill results achieved from the current drilling at the Picachos Project:

"These results provide further indication that Picachos is a high grade project amenable to low cost shallow open pit mining. Given what we have seen so far, our target start date for production in the second half of 2015 is certainly achievable.

In addition to the high grade copper values seen so far with the Stage II drilling, we have yet to receive the silver grades which are expected to add further to the revenue stream. The first of the silver assays are due shortly.

As previously advised, we have a number of copper mines operating in very close proximity to Picachos providing toll treatment options, we have a Feasibility Study kicking off in relation to open pit mining at Picachos, and we now have these great drill results which will go into the geology model and the Minerals Resource Estimate due in 1Q2015.

This is truly an exciting time for Herencia shareholders, Picachos looks to tick all the boxes for a quick entry into production and a strong cashflow from day one."

In relation to the Company's Guamanga Project, OZ Minerals have advised of their withdrawal from the joint venture. OZ Minerals drilled five deep diamond drill holes of approximate depth of 700m each (for a total meterage of 3,495m), which intersected copper mineralisation in three of the five holes - including 14m at 0.52% copper and 0.18g/t gold from 260m downhole. The results, whilst geologically informative, were not sufficient enough to warrant further deep drilling at this time. Herencia will now review the drill information provided by OZ Minerals and will likely seek a JV partner for the asset or an outright sale to allow management to concentrate on bringing the Picachos Project into production in 2015.

About the Picachos Project

The Picachos Project is located approximately 50km south east of the coastal city of La Serena, 8km west of both the existing Andacollo copper-gold project operated by Teck Resources and the mining town of Andacollo (population approximately 10,000 people), and 10km south of the privately owned Tambillos copper mine. The Project is very well positioned for infrastructure with existing high voltage power located approximately 3km east of the Project area and serviced by two all-weather access roads.

Small scale mining is currently being undertaken by private miners via small open pit and underground mining operations. Ore is being trucked to a Chilean government owned processing plant (ENAMI plant) where it is processed. This mining will continue up until such time as the Option to fully acquire Picachos is exercised (at Herencia's discretion) and is seen by the Company as an excellent mechanism to achieve geological and grade data across many zones of mineralisation.

A review of available data and Herencia's own geological and drilling programs have confirmed multiple zones of copper mineralisation with a combined strike length of over 8km contained within the Project area. In some areas the close relationship of these zones coupled with multiple occurrences of out-cropping wide zones of mineralisation, highlights the excellent potential for large scale open pit mining to take place at Picachos. Historic mining has focused mainly around the high grade structures, however in some areas the mantos have been mined up to 50m wide. Mineralisation generally commences from one to five metres below the surface and appears open at depth.

About Herencia

Herencia Resources plc, is an AIM quoted exploration and development company operating in Chile. In addition to the Picachos Copper Project, the Company has a Joint Venture with OZ Minerals at the Guamanga Project and it has its 70% owned Paguanta Project, a high grade silver-zinc-lead project located in northern Chile. The Company's corporate office is located in Perth and the main technical and management office is located in Santiago, Chile where it has been operating for over eight years.

For further information, please contact:

Graeme Sloan, Herencia Resources plc [phone]
Katy Mitchell, WH Ireland Limited [phone]
References in this announcement to exploration results and potential have been approved for release by Mr Graeme Sloan (BAppSc Mining Engineering WASM) and Mr Antonio Valverde (Bsc Geology Universidad Complutense de Madrid), who have more than 20 years relevant experience in the field of activity concerned. Mr Sloan is a Member of the Australasian Institute of Mining and Metallurgy. Mr Sloan and Mr Valverde have consented to the inclusion of the material in the form and context in which it appears.

Further background details on the Company can be found at www.herenciaresources.com

[turbotrader2] 01/12/2014 07:40

Waffle ?Lol

[martyn9] 01/12/2014 07:34

More waffle,red finish today!!

[stockready] 30/11/2014 01:14

correction:


but still will HAVE A OPPOSTIE EFFECT on share price

[stockready] 30/11/2014 01:09

Corb my good mate,

I have been reading the following statement from you in the other board and thought to also comment on it , you said:


corbine
26 Nov'14 - 13:58 - 8150 of 8164 0 0


i reckon the ozmin results could be a double edged sword? if they are good and big enough resource to proceed further then fine-but whats the cash call to herencia for next stage on guam?
.........................

I just picked this paragraph to respond, and my reply is there is no double edged sword here but only double disaster rather.....why?
GS basically start promoting Picachos knowing so well Oz is walking away, and beg them to give him time to promote the BS stories for Picachos to fool people in order TO DIVER ATTENTION from the core of the problem and that is no big internationals would be involve here , we have no funds, no JV and no future....

GS is looking for some story here to stick, to fool, to make it believe, to buy time, but that has come too little too late IMHO..

Oz would never ever be involve in guam, they are not mad, the company is barely standing on its foot, and barely able to offer any future prospects weak managements, lost chances, lost share prices, LOST TIMES, and there is no way you would see Oz be involve with anything to do with HER I promise you that...

GS standing alone and no one is backing him, even his only media friend who basically wanted to hang up on him and didn't careless of what GS was saying....


sadly Corb the situation is much much much worse than I ever imagine it to turn up in my wildest dream and I was so naïve to keep believing in GS and his utter BS promises, while I still KEPT warning everyone and question his strategies..

I HAVE and always will be having loads of respect for you, and I like you a lot , but sadly GS have proved to me beyond reasonable doubt that he can't manage this project and I am not going sit here quite and listen to whatever BS he throw at us decent share holders and pretend everything is good..


some truly grim times ahead of us Corb, please acknowledge that to the rest of the board, they deserve to know the reality and lets not fool ourselves!!!


we all deserve better, and GC has ruined it for all the shareholders here....

next coming weeks this is what is going to happen:

next 10 days:Result of Picachos would be blown out of proportions and to try to make it look so good , but still will HAVE A OPPTIT EFFECT on share price, because market simply don't believe whatever GS spit out....


before Christmas or around: Oz will leave HER and GS will thanks them for their supports and loads of other usual BS he throw in his RNS ETC

January 2015 :we will keep drilling and more delays expected on picachos

March/April 2015 we will be informed that we never ever be able to deliver Picachos production in 2015 that is impossible... with no funds, no licence, no meaningful costs

around May 2015 I expect GS (if he still dare to stay in the job) to start bang about Guam and how fantastic those assets are and how he is going to turn it around....


next year this time HER will be bankrupted sadly and will go to liquidation


all of the above can change if GS resign and we have someone strong with good connection and knowledge in place within the next 30 days...


GS is truly losing it corb and I am worry about him, just listen to him in the last Media release and see how sad and desperate he come a cross, he simply LOST Oz and we soon know that in RNS BUT after he manage to dress up Picachos.....


really sad

I truly mean it...

GLA

[nevik2] 28/11/2014 14:40

"agreed-full focus on early cash flow from picasso is priority :-)"
Do you think in that case we would Turner corner? :-) sorry for that, just talking Pollocks. Still nothing toulouse it's only Monet. Ok I'll leave now.

[stockready] 28/11/2014 14:13

GS has only 20 days to turn this company around and with different news other than BS drilling results.......

can he do that?

I for one certainly hope so, but I doubt that too much......

if that doesn't happen, prepare yourself for worse!.....


we are all going down with GS and HER, if can't bring in some JV, FUNDS, here

simple as that....

GS, please make that call to Harry, still not too late...


GLA
I pray for miracle here!

[stockready] 28/11/2014 14:01

I say the faith of HER will be decided by this side of Christmas,
so we either push beyond 0.5p or we go under 0.2p and then to 0.1 levels..

GS calculation of buying times and delivering BS drilling results while he would try to think what he should do WOULDN'T work here no longer...

drilling and dilutions is all we received here with no commercial values being added because of failures, delays, and missed opportunities.......

so market had enough of this circus and so as decent loyal shareholders...

basically everyone abandon the ship including GS media friend which he just wanted to put the phone down and finish the BS he just transmitted ... of course he knows GS is OUT OF HIS DEPTH .......

It truly hurts me to say the above, but I tried to hold back for so many months only with gentle reminders but TIME IS UP now....

I like to know why no one interested to do JV, O/T here?? if the assets are so attractive....??

the answer is so simple, either the true assets doesn't have a profitable commercial values for people to get involve, OR GS don't have a knowledge , drive, expertise to attract the right finance here....

I say it is really combination of the above, but more like the second.

my message to GS:

please don't expose us to another line of BS yet again about drilling results!! IT WOULDN'T MAKE any impact here...
PLEASE resign and let someone else lead this company who is more capable to deliver value, I truly think you should go and sooner and more honourable terms is better... you have had MANY MANY CHANCES here, and you delivered NOTHING but DAMAGES...


OR

bring on JV, FUNDS, LICENCES, PLANS, COSTS, EXPERTIES, and then tell us we are going to production in 2015 without the above you have NOTHING MATE....ZILCH ZERO BUT only false hope.......

[corbine] 28/11/2014 13:01

agreed-full focus on early cash flow from picasso is priority :-)

[stockready] 28/11/2014 12:19

time is ticking so fast....
and the next RNS better be a good one....

sadly if GS thought with lengthy drilling he can buy times, he got that so wrong this time...

this side of the year he needs to come up with company changer news or HER goes below under and will sink

I know he doesn't have this news, and I know he ran out of options...
but rather being honest why he come up with another BIG claims of Picachos production next year while he has NOTHING.....

THAT WOULD do a massive damage to share price when the time comes, and this guy doesn't have a clue...

I truly beg him to not release more asset upgrade news regarding picachos, if doesn't have another BIG news (like funding, licence..etc) included in that RNS.......

He is mad thinking he can keep going by just drilling with no production plans, ....


Truly sad..

[thrgef] 28/11/2014 12:11

Forget Guam its a distraction and something for the future. We need Picachos pending drill results to be high grade and sufficient to enable us to book a resource and obtain mine capital funding.

If we don't manage this I struggle to see how we can attract further funding for more drilling.

[chablard] 28/11/2014 10:56

If Oz stay and mine Guam we will have a powerful JV partner to kick on with production there. If they don't we will have the tenements and drill info given back to us, but your right we will not have the cash to do anything with it for quite a while (if we want to).
The game changer for HER is not Guam but Pic,Picasso or Picashos (whatever you want to call it) Graeme is working towards near term budget copper mining here. Shall open pit with the ore being shipped out to contract refiners neighboring the mine. So much less monies needed for start up. He will still need, at my guess, about $15mil for final tenement purchase ($8mil+)and monies for open pit extraction (diggers,truck etc).
So Oz stays - great; but the sooner we get our own production going on Picashos the better. Q4 2015 with a fair wind.
Drill results due very soon from Pic.

GL

[nevik2] 28/11/2014 10:15

So if it comes back to us, where does it leave Herencia? Will we not be back in a position of needing finance in a difficult market? Which will mean the terms are going to be unfavourable.
If Oz say thanks but no thanks, the share price will take a huge hit and there isn't much left to hit, easy pickings for any on the sidelines watching and waiting. Someone else might get the benefit of Herencia's and Oz hard work at a bargain price.
I just hope Oz are staying.

[stockready] 27/11/2014 12:35

is the current share price is doing us a justice? some people (including GS) may asked!

as much as I hate to admit this sad realities, the answer is of course it is!

we have no productions, Lind keeps screwing and manipulating the share price and the company, no funds, no nothing but wonderful assets under the grounds which would cost MILLIONS of $$$$$ to dig out, and not to mention MD (our GS) who has brought no value here but damages after damages, then you come and tell me why we should be above 1p??? on what basis exactly?

people have been ridden on false hope here for YEARSSSSSSSSSSS, and now suddenly the penny of reality is dropping!

I hope that penny also drops for GS who ruined this company with time wasting for years... loads of missed opportunity which could have turn this company around, no to mention the disaster Lind deal!!

let not embarrass our self more, by letting him continue this circus.....

[stockready] 27/11/2014 11:31

He honestly better no release those RNS's if he doesn't have a game changer news, he always do MORE DAMAGE,

specially with his commentary BS on the news while share price still sinking!!!

how dare he is to talk about the success, while he has done NOTHING to turn this company around???????????? NO VALUE to decent loyal shareholders for years?

and you telling me to shut up?

why?

you shut up if you are so blind not to see the above, people like you are truly danger to other decent shareholders, specially new pi's...


lets talk about the realities here, !!!

[stockready] 27/11/2014 11:26

turbo!

you are seriously in denial! (yes for the past 2 years)

wake up to reality and OPEN your eyes!
which one of these should I pick on: (all of them?)

media embaressment which I was first who picked it up and brought to everyone's attention, Lind deal which I warned at the time, wasted years of time (and money) in Paguanta development with so unrealistic goals (just like Picachos) which again I warned about, more drilling for assets upgrade with NO HOPE of proper funding or JV, NO PRODUCTION, no nothing but loads of BS RNS's to fool the market !! guess what, market no longer buys GS BS, so the next RNS better to be some game changer rather than usual upgrade BS..


GL

[corbine] 26/11/2014 23:07

thanks chabbers