Herencia Resources Share Discussion Threads

[petersmith6] 02/5/2017 12:13

Ye of little faith.. it's gonna be messy..but up is up

[miahkaysor] 02/5/2017 12:01

In with 6.5mil!

[pwhite73] 01/5/2017 15:57

RNS 27/04/2017 - "The Directors believe these funds will be sufficient to satisfy the Company's working capital requirements for the foreseeable future and these funds will be used to repay creditors, to advance the Company's remaining assets (as set out above) and for working capital purposes."

That statement last week is almost identical word for word to the one issued on the 28/07/2016. See my post at 10:56.

What might be happening is that they will be using the placing funds to settle the CLNs with Lind and Darius. That may be why the conversions haven't taken place and why they ran out of money so soon after the sale of Paguanta last year. If it is the case then I expect them to be tapping the markets for funds again within the next 8 - 12 weeks.

Keep away.

[philgyuk] 01/5/2017 13:12

PWhite73 - I can't comment on the double holding entry error, although I did think it a bit of a coincidence they would both hold exactly the same number of shares. I reported the information available to me.

The facts you highlight make the situation look pretty dire for PIs if major shareholders do convert and sell out.

There is also the possibility that, due to the lack of liquidity you mentioned, the major shareholders will give the new Board a chance to progress HER to make something of the mineral resources it has.

I presume the potential threat of dumping the placed shares will hold the price down apart from those brief jumps we have seen on any good news. It will certainly be interesting to see how this saga develops.

[pwhite73] 01/5/2017 11:03

.......and as if all that wasn't enough.

RNS - 16/10/2016 Herencia Secures up to US$200,000 Funding

Shareholder Interest

If 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 6,773,426,573 Ordinary Shares in the Company representing 38.76% 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 7,175,491,784 Ordinary Shares representing 41.06% of the total issued share capital of the Company"

That's 80% of the company between them and all this before the 27/04/2017 $1.2M 0.045P placing.

WALK AWAY FROM HERENCIA IT IS A TYPICAL WORTHLESS JAM TOMORROW AIM STOCK.

[pwhite73] 01/5/2017 10:56

petersmith6

Below is the statement regarding the sale of Paguanta.

RNS 28/07/2016 - "The Directors believe these funds will be sufficient to satisfy the Company's working capital requirements for the foreseeable future and these funds will be used to repay creditors, to advance the Company's remaining assets and for working capital purposes."

Having told shareholders the funds from the sale of Paguanta was sufficient to pay creditors and meet work capital for the foreseeable future seven weeks later this announcement was made.

RNS 16/09/2016 - "......the Company has opted to improve its balance sheet and in conjunction with interested parties has used the recent funds from the sale of its 70% ownership of the Paguanta Project to Golden Rim Resources to repay the majority of its creditors. This places substantial constraints on the Company's current working capital position, and whilst there are funding discussions with other interested parties there can be no guarantee that further funding will be provided."

What happened to the $2.3 million in the space of seven weeks. What is the more interesting is that as part of the deal GRM was to spend a further $2.1m to settle all creditors associated with Paguanta.

RNS 28/07/2016 - "As previously announced (-see announcement dated 10 May 2016), the total consideration for the sale of the Paguanta Project is US$2.3 million, with GMR agreeing to pay up to an additional US$2.1 million (approximately GBP1.5 million) towards various contingent liabilities."

[pwhite73] 01/5/2017 10:39

Philgyuk

ASOF and Lind do not hold 525,041,206 each. There is only the one holding which is held by ASOF. That is a double entry error on your stockbroker's website.

[petersmith6] 30/4/2017 21:15

Dig hole sell the over spill for constriction..mine the goodies..then sell the hole .Oh the last hole i sold made me 2 million and 5 % of the prophet on the land fill that people payed to dump.

[philgyuk] 30/4/2017 12:17

PWhite73 - Australian Special Opportunity Fund and Lind Partners may be the same but the company's website only lists the former with 525,041,206 shares and doesn't list the same number of shares held by Lind. They have the options to exercise their rights but will they or hold for better times - there are a number of possible options here.

[pwhite73] 30/4/2017 08:44

Philgyuk

Your stockbroker's figures are taken from the company's May 2016 website. The Australian Special Opportunity Fund and Lind Partners are one and the same. The nominee account holders are not on the company's website because they are not significant shareholders and neither is R B Rowan.

It is a wise decision to wait and see how things pan out. Between Lind and Darius they have about 20m billion shares than can be exercised as prices between 0.02 - 0.05p.

petersmith6 - "over 3 years however I'm expecting substantial growth from our hole in the ground"

Replace the word 'ground' with 'pocket and you'll be closer to what is likely to happen.

[petersmith6] 29/4/2017 15:23

I know 3 of the above quit well so I'm glad to see them hold..short term there will be chaos..over 3 years however I'm expecting substantial growth from our hole in the ground

[philgyuk] 29/4/2017 13:45

PWhite73 - thanks for the additional information. The information I have about shareholders comes from my stockbroker site and lists the following names and shareholdings with valuations at yesterday's share price:

The Australian Special Opportunity Fund 525,041,206 £367,529
The Lind Partners ("Lind") 525,041,200 £367,529
Shining Capital Management 400,000,000 £280,000
Oriental Darius Co. Ltd. 200,000,000 £140,000
Nyrstar International BV 194,099,737 £135,870
HSDL Nominees Limited 148,454,335 £103,918
TD Water House Nominees (Europe) 135,820,839 £95,075
Barclayshare Nominees Limited 112,389,045 £78,672
R B Rowan 59,867,530 £41,907

The HER website is obviously out of date because it doesn't mention Lind at all.

I certainly wont be buying anything until I see how this all pans out. Obviously, everyone has to do their own research and thanks for the warnings.

[pwhite73] 29/4/2017 09:18

Philgyuk - "PS The current major shareholders hold 2 billion of the 4 billion shares currently available."

The last time I checked the major shareholders page of the website had not been updated since May 2016. You have absolutely no idea who is holding what. What we do know is that in October 2016 $200k was raised via a conversion loan. The CLN allows Lind and Darius to convert 13 billion shares at 0.02p which is less than half of the latest placing price and twice as many shares.

The shares haven't been converted yet not because they are long term holders but simply because they haven't been able to. The lack of progress in Chile has resulted in low trading volumes meaning there is not enough liquidity to dump the shares.

With the new board in place and an intention to reinvigorate Chile lots more RNS announcements will be made which will generate new interest in the company.

This interest will attract new investors willing to get their hands on stock at 0.06p 0.05p 0.04p 0.03p and 0.02p.

If you are buying or holding above these prices you will lose money. Do you see how they closed the bid yesterday at 0.06p. This is so that nobody but the placees can sell into profit.

HERENCIA RESOURCES IS AN AIM DOG.

[thrgef] 28/4/2017 19:19

The same investors will take the shares and they will hold them for the long term. Lind and their Aussie mates

[philgyuk] 28/4/2017 17:52

PS The current major shareholders hold 2 billion of the 4 billion shares currently available. It will interesting to see who has taken on the new 2 billion. I would also like to see some Directors buying too.

[philgyuk] 28/4/2017 17:19

PWhite73 - I take your points and you predicted the placing price very closely. I'll keep on watching this and maybe dip in at some very low prices as the picture unfolds.

[petersmith6] 28/4/2017 15:52

New money came in to make serious profit. They have a new team and money. So 5 bags is relatively easy

[ny boy] 28/4/2017 15:18

Weak being flushed out, new visionary investors taking over, buying the lows, now we have new cash and a base level around .5p, not going bust, so great opportunities to get the open mining "jewel in the crown" producing.

[letmepass] 28/4/2017 08:34

Try PSL before the herd arrive

[ny boy] 28/4/2017 08:28

Ok tks, no nothing about it, will take a look.

Lots of buys this morning, confidence returning, not going bust now, so less risky dyor as usual

[ny boy] 28/4/2017 08:22

Steeplejack..what's the code for Mariana?

Looking for 0.1+ here over the short term

[letmepass] 28/4/2017 08:08

You mean. 8

[ny boy] 28/4/2017 08:07

Onwards & upwards, ignore the noise.