Herencia Resources Share Discussion Threads

[corbine] 22/1/2015 12:52

so emed need circa further $150 million, have borrowed bridge finance $30 mill?
what other costs -to date-have been spent on emed to get this far? since emed took over the asset/license?
is the 150mill emed need just for first phase mining?
will emed need further monies to expand the mining?
if so , how much?

[corbine] 22/1/2015 12:48

stockers. paguanta can stay in ground for now, no point spending monies there at the moment. priority is to get income stream from most viable, cost effective asset-thats picasso- in time zinc/lead etc will? make paguanta viable to proceed further.
wait for capex on picasso and confirmed production date (if)
then u mite see what im talking about

[stockready] 22/1/2015 12:41

corrections:

question is WHY both...

[stockready] 22/1/2015 12:40

Corb my good saint mate

thank you sir,
question is what both paguanta and guam should be left unused, only zinc price?! I even think he could have done far better with those assets, remember the delays on feasibility study (6-8 months delays) , that was our opportunity to sell our o/t their GS sat relaxed, blamed everything and dragged it right to May with that 2 pages redicules info, do you remember that?

Corb my mate, regarding your questions below, do you read my posts here :-)? I answer most of these in depth for you mate just yesterday, please have a look.
I said how much it will cost, how much we need and where we are with the project! and it comes to production THIS YEAR! :-)


gl with your emed-
whens production start up there?
how much will it cost emed to build their mine?
how much will emed need?
how much debt do emed have?
just asking stockers.


regarding above please see my answers from yesterday and if still you have questions please do ask me, EMED will be the most talked about share of AIM in less than 6-8 months as we get closer to production.

IMHO

[chablard] 22/1/2015 12:40

Head against a brick wall comes to mind

[corbine] 22/1/2015 12:27

disagree stockers. i think there is a lot going on behind the scenes, as per rns, timeline is still on target, pre feaso etc is already being worked on, your missing the point re high grade/low capex, mineralised from surface and strike length possibles- there is a good chance 40m is linked to fleur de bosque. if so it opens the resource much further than the maiden jorc (2012) will provide.
whats gone on in the past cant be changed, its the future which matters now.
lind was poor as it turned out, shining was much better.
this will be the most important year for herencia. 4 years ago all they had was paguanta and guam on backburner. now they have a real chance of getting a very quick production route through picasso.
so far so good.
as i said wait for the jorc/feaso and other tickboxes.
gl with your emed-
whens production start up there?
how much will it cost emed to build their mine?
how much will emed need?
how much debt do emed have?
just asking stockers.
:-)

[stockready] 22/1/2015 12:17

we have to be honest with our self Corb, and sooner we all do that the better.

just wait for excuses which soon will be coming from GS, just wait 3 months..

[stockready] 22/1/2015 12:12

Corb, you know well despite my disagreement from the past 2 years, I sat here and gave this guy a chance, he ruined every single chance he had, not only he delivered no value, but also he damaged this company beyond the repair, from high 3p to 0.2p I have been there and seen how the damage done, and I know so well who is responsible for it.

he comes across very rude and arrogant to decent, loyal and painful investors by recently in several occasions suggesting in his stupid RNS's that investors that he has delivered some kind of exceptional results/value to people and we should all be very happy that this simple studies shows high grade copper, while for over 2 years he ruined the company completely... wow we should all be very grateful and happy !! why?


I am not going to sit quite and take these BS any more, I am sorry corb

he talks about cash flow while we have done no economical study/ or feasibility study to YET to understand the costs involve to even able to justify if this production will be at all commercially viable?????


so what I say is this, he should really hold his horses till he can give us some numbers, and find the financiers , cash flow means nothing if it is NOT PROFITABLE

does he really think people are stupid?

or what?

no one here is stupid!

GS needs to grow up and treat us like an educated investor who know so well his history and his poor performances, he is not even in the position to release at least 4 BS RNS's over the same subject, all could have been put in 2 RNS's, he done more damage.

Corb, I do care about people/investors here, they don't deserve to be threated like this?


I honestly have nothing against GS, but I am feed up with some of his rather unprofessional and sometimes stupid moves..

[stockready] 22/1/2015 11:43

Corbin

thanks mate,
yes I have seen the link and if you go towards the middle they confirm what I just commented that copper price simply can't go any further down, and they only direction is up from this point on,
as for EMED, to be honest that is the mine with nearly 14 years of proven copper extraction and this might easily extend to 20 years after asset upgrade, so short term copper price has no bearing on EMED at all, but sadly will effect HER as I don't believe they have enough copper in Picachos beyond 3-4 years if that, (at current depth)
so HER and GS should truly do something very quick and fast with those amazing silver/copper and find someone to invest in HER, and with the short term life span of Picachos I truly doubt anyone would be interested.

GS soon be struggling IMHO and I give him 3 months to come up with his usual excuses, and believe me he will find one...
he knows delivery of open pit is truly impossible to achieve in 11 months, and time is ticking so fast and sadly can't see him adding any value here,

I repeat that none of the recent drillings and copper upgrade etc can really be considered as an achievement/credit for GS, that simply because you get together the right people to drill the right spot they will find the metal what GS has done there is nothing special at all considering the long delays,

He has add NO VALUE to share price and that is what I am gravely concern about, because he has done nothing in that front to date.

regarding the Lind, yes I agree with you that tough to achieve a finance but that doesn't mean to go ahead and sign in any crooks to milk out our investment here ! does it? and that is exactly what he done.
You are absolutely right that later he tried to put it right by kicking them out, which again showed and proved his initial grave mistake BUT BY THEN the damage was done Corb, it was too late.

I honestly can't disclose here what I truly know about Lind but believe me the stories are mind blowing and still GS got involved with these bunch of crooks, and they screwed us so silently which even to date we are paying a heavy price for it. WHO IS RESPONSIBLE for that grave mistake?

of course GS

we can't have these sort of amateurish mistake ever happen here again, and to me GS with over promising Picachos while he truly has nothing is a grave mistake and he will regret that.

now he has to deliver OPEN PIT by end of 2015 and Corb I honestly don't believe for a second he can achieve that this year or even next year... simply because he doesn't know how to sell this in the world of finance, poor connections, and poor understanding of project managements...and by that time he realise it is simply too late for all of us.

I am sorry but I rather be blunt and forward rather than keep saying everything will be fine at the back of NO EVIDANCE and POOR performances which all speaks for itself.

GS is honestly no longer the man to lead us to the path of success, he has failed us many times and he will exactly do that same with Picachos, even if he means well which I say he does but he doesn't know how to bring this to success, he already release 6 RNS's over the more or less same subject out of pure desperations, and mostly they say the same story and they mostly damaged the share price

he think by some magic picachos comes to production in 2015 , and I say sadly he is just dreaming....

Thank you Corb

GL

[steelwatch] 22/1/2015 08:56

Extract:

TMR: What are your forecasts for 2015 base metal prices?

JR: We follow copper, lead and zinc. Our forecast for copper is an average price of $2.74 per pound (2.74/lb), with $2.70/lb in Q1/15 and $2.60/lb in Q2/15. We expect little movement in lead, with a flat $1/lb price for the year. And for zinc, we expect $1.10/lb for the year, with the price rising as high as $1.30/lb in Q4/15.

TMR: Given how important copper is to economic expansion, could its recent price decline be a leading indicator of a global slowdown?

JR: I think the biggest issue is a slowdown in China. That country had stockpiled large amounts of copper but now appears to be selling back into the market, which is what's driving the price down. We think that world economic growth has lagged a bit and may continue to do so. We further believe that the strength of the U.S. dollar is more a reflection of the weakness of other currencies than it is of the strength of the U.S. economy.

TMR: Assuming for the sake of argument modest global economic growth, does this favor the so-called currency metals, gold and silver, over the industrial metals?

JR: For the most part, yes. Zinc should be the best performer this year, but after that, it should be pretty close between gold, silver and maybe uranium.

TMR: Is the world running out of zinc?

JR: A more accurate evaluation is that the zinc price has been so low for so long that we are running out of current supply. In 2012, the world zinc market was significantly oversupplied. The price fell to the $0.80/lb range, so there was no incentive for reinvestment. Since then, Glencore International Plc's (GLEN:LSE) Brunswick and Perseverance mines in Canada have shut down. And MMG Ltd.'s (1208:HKSE) Century zinc mine in Australia, the largest in the world at 4% of zinc supply, will be depleted this year.

The London Metal Exchange's zinc inventory has fallen from 1.2 million tons in 2012 to below 700,000 tons (700 Kt), which means a roughly 250 Kt/year shortage right now, even before the Century shutdown. So world zinc inventories could drop to dangerously low levels by the end of 2015 or early 2016.

TMR: When will new zinc projects come on line to make up the deficit?

JR: If the price of zinc spikes, there could be a three to five year delay before the world can get zinc mines permitted and built. China has massive zinc reserves that aren't currently being produced, and a laxer regulatory regime than the rest of the world. But even if it brought some of its shuttered mines back on line and began construction of new ones, we'd still be looking at six months to get the former producing and a year or two for the latter.

[corbine] 21/1/2015 16:31

stockers-u may wanna watch this carefully and absorb this guys opinion

[corbine] 21/1/2015 16:21

both picasso and emed at mercy of copper price-global situ/china eurozone etc etc

[stockready] 21/1/2015 15:20

corbin

my good mate, thank you sir

the current cause of delays are two folds in EMED:

1. permits : both Restoration permits (RP) and mine permits (MP)
2. finance package of around $150million STILL require (this could be less) to bring this mine to full production and upgrade the infrastructure etc...

Trafigura and other big two provided a bridge loan of $30 million to EMED in December 2014, to carry on with the development plan while the finance being negotiated/sorted, so that means no stopping the project and everything is going FORWARDS according to plan for reopening of RT by Q4 of 2015 (THIS YEAR...) same time as HER production :-)


I have loads of field info that both above mentioned permits are coming shortly and most likely together, there is absolutely no issue with the permits and slight delay is more due to Christmas period and lack of man power in Junta(local authority of Andalucía) but that is now being resolved and permits are progressing well.

Trafigura involvement with EMED should say it all that how much they wanted Rio Tinto as that fits their business model so well, and they can input loads of expertise for nothing to bring this mine to production very quickly. (they currently own nearly 20% of the company)

I truly believe that the current level in EMED is absolute bargain, and I believe it wouldn't stay under 5p for long, truly so fortunate for new comers, some people like me dreamt about such a entry level for years, but I can't add more as I am fully loaded here and my exit level is now changed to 30p which I am sure will be achieved in less than 18 months IMHO I wait for that.


COPPER price can ONLY go up from this point and all good good news for both HER and EMED, but EMED is in the brink of being a huge producer very soon while sadly can't say the same for HER...

ON POSITIVE note, if you interested in EMED it is truly a magic time to join and buy some IMHO, DYOR

GL corb my good mate
:-)

[corbine] 21/1/2015 11:32

Yes stockers-you have the right to an opinion same as us all. we just agree to disagree,
good luck with emed by the way.
can i ask what the delays are there? in your opinion?
thanks

[stockready] 21/1/2015 11:05

CORB

My very good mate,

many thanks for your inputs and analysis, I agree with Chab that you are saint and I love you! :-)
it doesn't matter what you say, you never upset me and I know you perhaps have the best knowledge of this mine...

however there are areas that we are still disagree, and areas we can agree, and that is fine,

I will respond to you fully in the coming days,

many thanks for your post

[chablard] 20/1/2015 14:26

And on and on like a bad smell in a kid's classroom. You should really get help. Suggest you go see Harry mate. Emed 18p by Christmas. You are just as welcome there as you are here.

[stockready] 20/1/2015 13:51

valentine,
thanks for your comments, sadly you are still not making sense to me, !!!
nor I understand who you are talking about?
we have no one famous here to defame them, GS is just a employee of HER paid by us as a shareholder, is at the back of our money being diluted to the nuts that he is still in the job, and I believe he owe that to us decent shareholder.

This company indeed finished under GS back in October as I accurately predicted and if you truly think GS is going to pull his magic out of the hat to bring this company back to above 1p then you are just dreaming, even with open pit he wouldn't make that happen as the cash burn and loan would be massive by the time we achieve that...
these are kind of talks that GS always avoid to explain how he would make this process profitable ....and what he expect the impact to be on the share price ?


this is the end game....

GAMVE IS OVER....

time is to find a new CEO....

[valentine] 20/1/2015 13:10

As of March last year there is a defamation law applicable to bb's.. I believe this is what is being used. I am just informing another poster here who is also a holder of the other share..finished now.

I like Herencia btw and will get some again once I am out of the woods

[stockready] 20/1/2015 12:44

only in March 2014 HER share price was at 0.5p at that point I had some hope of recovering if GS was moving fast with Picachos, but he didn't and look what was the share price end of October and after (yes a miserable 0.25p and under)

it is truly a miracle we are holding at 0.2p because we have NOTHING and soon be given more o/t if we are lucky to find someone who is willing to invest in this failing company!

who would that be?

[stockready] 20/1/2015 12:31

Corb

You said last year if funding wasn't sorted by October 2014. Her was finished. U keep repeating it. Hadn't happened yet had it stockers.

Ok regarding the statement above, Corb please be realistic and not be in denial ! it is always healthy to be realistic and talk about facts...

of course HER is finished, what do you want to see to believe it? the share price of 0.1p and under...

just look back and see what was the share price only 6-8 months ago and where it is now? then reflect on my comments that you quoted and see how much damage these dilutions have done to this company! yes HER under GS finished in October and what you see now is purely a denial of a man who doesn't want to accept the defeat, and want to run this circus for another 6 months to come up with the final excuses before he resigns and go.

GS is qualified , so as many others who could have done a far better job than he has done so far.

drilling and finding copper/zinc IS NOT A CREDIT to GS , anyone can do that, but turning those assets to VALUE is where the difference is, and he failed in that front so miserably


I really don't care about GS, but I care about decent shareholders including you and many others who are still believe GS is doing something special here after seeing him failed for over the past 3 years at least! JUST reflect on share price, and tell me if over 450% drop in share price in less than 2 years can ONLY be blamed on global downturn? please Corb, lets be honest with ourselves and please answer this point and also Lind disaster deal,

what would be the explanations?

please help me understand GS achievement in the past 2 years which turned to VALUE for investors here?

and I ask this so politely help me to understand what is so special being achieved here that me and many market analyst expert in this area failing to see and understand?

many thanks Corb

[corbine] 20/1/2015 12:14

Stockers. Don't be so rude. Valentine was just telling you there is an ongoing case re posting defamation. Slander. On bboard s. he didn't say this board.
For what it's worth. Everyone is entitled to an opinion but a lot of what you say about gs is xtrmly rude if not worse.
I disagree with much of what u accuse gs with. You appear to lay all the blame at his feet.
You don't take into account. World affairs. Global turndown. Etc etc.
and what makes you? It me ? A mining expert.
Gs is sufficiently qualified and able to get herencia to production.
You said last year if funding wasn't sorted by October 2014. Her was finished. U keep repeating it. Hadn't happened yet had it stockers.
Apols for spelling. Using phone.
Reread valentines message. He was referring to another case.
Corbs.

[stockready] 20/1/2015 12:11

Corbin

my very good mate
how are you?
good to see you...

I hope appointment goes well for you, for sure you can't blame china slow down as a reason for HER failure , !! not relevant, china slow down is in the past 6 months HER failure goes over at least 2 years of ineffective managements and failure after failure to take any of the high profile projects here and turn them to solid production/investment/value etc

GS has done nothing to promote the value here, he just drilled and drilled and drilled and after producing the results and feasibility study he find NO INVESTORS then he came up with excuses for zinc price, move to different project and he would do the exact same thing with Picachos, you be so naïve to even think he can deliver open pit this year, which he has produced no signs he would understand what would be involved and who pays for all of this?

You know better than anyone how patients many decent investors have been here for years, they put their head down and let GS get on with the job, he had my short supports as well and I gave him loads of chances, my questions since 2 years ago were all correctly being asked and now looking back you see I was so right to question those areas...

GS is sadly a bad news for this company, he had his chances and he failed...
dilution after dilutions with absolutely no cash flow for over 5 years, no wonder the share price is at such a disastrous level...how low should it go for people to start asking some of the fundamental questions which I raised for over 2 years?

GS should go, and that is the only time we standing a chance to turn this company around....

I am really sorry to be blunt about it but if I don't no one seems to really care to speak out the truth....

regarding Oz, yes they were after a big meat I agree but that was a unique opportunity to get them involve in other projects like Picachos...

how about Lind? why don't we talk about those crooks which truly diluted this company and benefited a huge deal out of that stupid contract which GS signed, the moment it came out I opposed to it, do you remember that? CAN YOU PLEASE COMMENT about Lind deal! please, how about that stupid deal ?


these are the damages beyond repairs, basically GS has no idea how to take this company a step up and please don't tell me it takes time, he had loads of chances and he failed.

he failed at the time when the copper, zinc, silver price was at highest and he could have attracted many big internationals to invest in o/t and future of many project which already HER had many confirmed drilling results and proven feasibility studies, he failed because this guy is so relax !! he is not fit to run this company, and sadly as much as he might mean so well we want a strong MD not a relax guy who is just want to keep going with drillings and drillings to keep his job!!

none of these results means anything if he can't bring this to productions, the recent results of Picachos is even under question for me, I like to know more details the depth of 184m is really not a surface and adds to the costs of production, GS truly doesn't have a clue, and I am truly sad to say that.


I hope all goes well for you Corb, and hope to hear more of your useful comments here

many thanks for taking time to share that with me and this thread

GL