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Herencia Share Chat (HER)



Share Price: 0.0275Bid: 0.025Ask: 0.03Change: 0.00 (0.00%)No Movement on Herencia
Spread: 0.005Spread as %: 20.00%Open: 0.0275High: 0.0275Low: 0.0275Yesterday’s Close: 0.0275


Share Discussion for Herencia


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applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
Noos-sooN......?
Wed 11:52
Any positive news and this will treble bag minimum...it always does. AND, we'll still be under a tenth of a penny? You'll be amazed how fast this moves up and possibly down again. Hopefully, we could hold above 0.0045p till next news, GLA
 
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: Posted by Akramms
Tue 20:19
(extract from previous post)

Other cost-cutting measures recently include reducing significantly the salary of the company's Chilean country manager. Dumbrell takes no salary himself and will be paid in shares instead.

Herencia also now has an electronic, cloud-based accounts system, meaning Dumbrell can keep tabs on things worldwide.

"I got involved in late May and we did a clean-up of all suppliers," Dumbrell said.

"In London, we identified who we should and shouldn't be working with. We changed our auditors recently, who are going to make sure we don't have the problems we've had. This company had problems 18 months ago just getting filings done on time."

On the ground in Chile, work is outsourced. Drilling is done by Canada's Major Drilling International, while laboratory work is carried out by geochemistry services company ALS.

Looking ahead, the focus for Herencia will be on securing a new project as well as progressing those already held in Chile.
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: Posted by Akramms
Tue 16:00
Alliance News

The company has had some problems over the past year or two, with shares being suspended from trading in London more than once due to a failure to publish accounts on time.

Dumbrell became chief executive in mid-August, and has since embarked on a clean-up of operations. He had originally joined Herencia in May.

This work included appointing a public relations partner, having not had one before, as well as a new joint broker, VSA Capital, in October alongside WH Ireland, which also acts as its nominated advisor.

Herencia likewise changed auditor, with Dumbrell saying the previous firm "did not understand the space", including not speaking Spanish, the language of Chile.

Other cost-cutting measures recently include reducing significantly the salary of the company's Chilean country manager. Dumbrell takes no salary himself and will be paid in shares instead.

Herencia also now has an electronic, cloud-based accounts system, meaning Dumbrell can keep tabs on things worldwide.

"I got involved in late May and we did a clean-up of all suppliers," Dumbrell said.

"In London, we identified who we should and shouldn't be working with. We changed our auditors recently, who are going to make sure we don't have the problems we've had. This company had problems 18 months ago just getting filings done on time."

On the ground in Chile, work is outsourced. Drilling is done by Canada's Major Drilling International, while laboratory work is carried out by geochemistry services company ALS.

Looking ahead, the focus for Herencia will be on securing a new project as well as progressing those already held in Chile.

It hopes to spend, Dumbrell said, around USD500,000 on drilling at Pastizal and Picachos to take these projects to a JORC-compliant estimate.

"In recent weeks we've been working behind the scenes very hard and until we get something signed I can't make any noise," he continued.

"We are talking to people as we speak, and if this comes together there will be a lot of newsflow, and what we believe is very good news for the company".

Dumbrell is confident Herencia can "bring something good in, and get on something that is really going to change the company".

"It comes down to now just getting the right project and kicking a few goals," he added. "This is a reset year for the company. Clear the decks, work out where we should be, and we think 2019 will be an exciting year for us."

Herencia's shares were down 9.1% on Wednesday afternoon at a price of 0.025 pence each. The stock is up 25% in the past month but still down 67% in the year to date.

By George Collard; georgecollard@alliancenews.com
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
Posted by Akramms
Tue 15:58
Herencia Resources Hunting For "World-Class" New Project
LONDON (Alliance News) - Herencia Resources is confident of the acquisition of a new "world class" project in South America, with an announcement potentially within the coming weeks.

Speaking to Alliance News at the Mines & Money conference in London this week, Chief Executive Carl Dumbrell said: "We are clearly saying we are looking for a new project. Now we are not doing that for negative reasons, the way we see it is we've got a great company here that is well backed by two really good shareholders.

"We can take it [Herencia] from a company with a handful of junior projects into a company possibly with a world-class project. We've started our search, and it's pretty much been South America, and copper and gold."

Herencia's current operations are exploration projects in Chile: Guamanga, La Serena, Pastizal, and Picachos.

Dumbrell said the company likes two of the current projects, Pastizal and Picachos, "an awful lot".

However, on Guamanga and La Serena, he commented: "The other two we like but I don't believe they are game changers.

"I just don't think it's the best deployment of our capital. Too much work, too early stage: I can't see the bang for buck."

Guamanga and La Serena are likely to be sold if Herencia can secure a new project elsewhere in South America.

Dumbrell continued: "We are South American, hunting for copper and gold. We like Chile, but we won't limit our search there.

"We see South America opening up more than ever, it's a friendly place to do business, so why would we not? There are still parts that are more difficult than others, but we are doing a search across the continent."

"We've come across a couple of good targets," he added, "and we're doing some due diligence specifically on one. We would hope to be public in a few weeks."

On the funding side of things, Herencia in September said it had enough cash until the end of October, but Dumbrell this week said the company is fine financially.

The company hopes to go to the market at some point, with management participating in any equity raise, but Dumbrell did say that macro-economic issues such as Brexit mean it is not the right time.

"The market here is pretty tight at the moment, so it is not the right time to do a deal," he said.

"I would like to do a deal, but when I do it will be a proper capital raise. We are talking to parties here but at the moment it is not just right, and sadly for us, it's Brexit."

Herencia is backed by two "friendly" major shareholders, Dumbrell noted: Lind Partners in New York and Oriental Darius in Hong Kong.

Lind is backed by the John Hancock, the son of Australian mining magnate Gina Rinehart, and Dumbrell described them as "true expert junior resource investors".

Oriental, he added, is backed by a "very wealthy" family in Hong Kong.
The company has had some problems over the past year or two, with shares being suspended from tradi
DanBrown83
Posts: 3,639
Opinion:No Opinion
Price:0.0275
RE: Really ?
Fri 15:10
i was thinking he may be employed as a Director of Herencia as a request from Lind??
As Apple said - probably get the purse string tightened until they decide on what to do next
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: Really ?
Fri 12:21
Pazza..i totally agree and was mystified. He'll be paid in shares as CFO. I just wonder why he is bothering with HER? He could be just trying to unravel their financial cash burn to put HER on a better financial footing, they are actively trying to cut back on expenditure. But what is his real purpose?

https://www.investegate.co.uk/herencia-resources--her-/rns/appointment-of-director/201805301235127066P/

Carl is Managing Director and Company Secretary of Emperor Energy Limited (ASX:EMP). Carl has been a partner of accounting firms in Sydney and London for over 20 years, specialising in taxation and assurance services.

Carl is a Chartered Accountant (Australian, England & Wales), Justice of the Peace (NSW), Registered Tax Agent, Registered Company Auditor, Registered SMSF Auditor, Member of the Australian Institute of Company Directors and a Fellow of the Taxation Institute of Australia. He has Bachelor's degree in Commerce and Master's degree in Taxation Law.

Carl is being appointed to the board, by shareholders of London based Herencia Resources Plc as a NED (AIM: HER), a company with copper projects in Chile.
pazza777
Posts: 2
Opinion:No Opinion
Price:0.0275
RE: Really ?
Fri 06:00
Applegarth - interesting theory on EMP doing a deal with HER. But EMP is off shore gas in Australia and HER of Copper in Chile.? that would be a first in London.

And, yes DanBrown. Lind is a shareholder in both, but is a significant shareholder in both so do not see the relevance. When existing shareholders have to keep putting there hand in there pockets just to keep the company paying its bills with no drilling its not a good thing. And key here is NO Drilling and NO drill program announced, my geography is a little hazy but it is not winter in South America at the moment. WE will not be on our backs, we are more likely to be deeper in the ground than actuall drill holes.
DanBrown83
Posts: 3,639
Opinion:No Opinion
Price:0.0275
RE: Really ?
6 Dec '18
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: Really ?
6 Dec '18
Pazza, i agree but i think Carl as CFO is here for a specific reason. Possibly to unravel the cash burn. But why? Could it be that EMP are looking at coming to HER with some kind of a deal involving restructuring our assets with a view to sell off assets and seek new ones with a JV...don't hit me with a shovel Dan but it IS about time now for HER to do something none of us expect and make fundamental changes? Strange and unexpected things do happen with AIM stocks.

Soon, i believe we'll be off our BACKS and back on our KNEES, where we always were?
(being facetious, lol)
pazza777
Posts: 2
Opinion:No Opinion
Price:0.0275
Really ?
6 Dec '18
I cannot understand this company- CEO for Herencia is also CEO of Emperor energy. Given we lambast other companies for having Non Executives with too many jobs, here we have No UK directors, a chairman running there own mining company in Australia and a CEO with Two CEO jobs and other directorships. Want ya drive laying with tarmac gov.
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
Carl Dumbrell - Emperor Engy
5 Dec '18
if anyone is interested.......interview, but nothing on HER

> https://goo.gl/UY11KK <
DanBrown83
Posts: 3,639
Opinion:No Opinion
Price:0.0275
RE: Watching with interest
5 Dec '18
Carl came across quite well in that article last week
Obviously him / LIND / Darius are all getting on well
Still a major cash call required for new funds but it would seem LIND and Darius are going to remain as the funders for the right project - doubt we will here anything until next year since they have provided funds to manage on until then.
What deal are you hoping for?
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: Watching with interest
4 Dec '18
I think he means Carl Dumbrell, head of finance, been here since May. Hope to hear soon of news of a possible new project, and as Carl said it could be elsewhere in S. America. Maybe Equador or Peru ?
cipro
Posts: 1,402
Opinion:No Opinion
Price:0.0275
RE: Watching with interest
4 Dec '18
Opps wrong BB
DanBrown83
Posts: 3,639
Opinion:No Opinion
Price:0.035
RE: Watching with interest
4 Dec '18
What new Director??
Another delay in capital raising - that will be over a year since the company actually even put a spade in the ground
Again the Conversion Price is dependent on the next capital raise so will have to wait until February for anything meaningful
cipro
Posts: 1,402
Opinion:No Opinion
Price:0.0275
RE: Watching with interest
4 Dec '18
Rns out another director so he will need feeding let’s hope
He gives us a good return for value
Nonbeliever
Posts: 138
Opinion:No Opinion
Price:0.0275
Watching with interest
4 Dec '18
Well, having given up on this long long ago (I need 1.5p to 2p to break even) I will watch with interest. To be honest 0.5p will make me happy but I guess that is a long way off but I will watch and wait.

Here's hoping.
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: 5year high 0.575
3 Dec '18
Trading view = 0.03 - 0.0076 (33.33%)
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
5year high 0.575
3 Dec '18
Mar 2014 at just over half a penny. That's 22 x higher than today's price!

Strong buys - BUYS technical indicators
https://uk.investing.com/equities/herencia-resources

BUY - moving averages- technicals
https://uk.tradingview.com/symbols/LSE-HER/
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
just thinking....
3 Dec '18
kempey you say you have over a million from years ago and they are worth next to nothing now. Well, 'years ago' means you paid almost 10-20 x what they are now. So, buying them today would cost only re cash?pa250-300 quid for a million. An attractive high risk punt for those specialising in bombed out recovery plays , methinks. imo

Not meant to be a recommendation to buy...just if you are willing to risk a bit of bottom drawer silly money?
kempey
Posts: 1,501
Opinion:No Opinion
Price:0.0275
RE: Back in.......
3 Dec '18
Apple...your right I should have traded it but I guess I just forgot about it as I was doing well elsewhere. It's difficult to tell sometimes. I bought a few million of FRR when they were at rock bottom and looked liked going bust..pure speculation and then... what a turn around!!! so have continued to buy more each month. I would like to think HER would do the same but I doubt it. probably will write the money off against profit on FRR when I eventually sell which won't be for a year or two given the potential. I guess we all have our hopeless performers!!
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: Back in.......
3 Dec '18
unless we get back to 0.6p + or if further dire news befalls us
---------------------------------
i mean 6 x 100ths of a penny not 6 x tenths (ie around 140%). But any decent rise would be nice. I'm doing the same with VAST...got in very low. Most of my Isa stocks are for the LT, so i need to either trade the risky ones or top-slice the others to keep money coming in for other opportunities

Dan spot on....I think the last time i bought 750 quids worth was when i first began back in 1987...the company was 'dodgy' run Control Securities...got 2k return before the went skint...lol
applegarth
Posts: 15,680
Opinion:No Opinion
Price:0.0275
RE: Back in.......
3 Dec '18
Kempey, surprised you still held, i have always traded HER never really held for long due to the original problems and huge dilution. I used some surplus cash in my ISA just to hold for an uptick on possible new prospects and investor speculation. I agre0.6e , this is highly risky...so one can assume i really only invested for old times sake. I won't consider selling unless we get back to 0.6p + or if further dire news befalls us. Never really thought i'd buy 3m of these for only £750. Last time, i bought 3m, it cost over 5 grand...so fag money down the drain or money in the bank....a pure chance? good luck
DanBrown83
Posts: 3,639
Opinion:No Opinion
Price:0.0275
RE: Back in.......
3 Dec '18
probably a small punt
while i think with the current number of shares and future shares taking in further placings and CLN's already in place, Herencia has been one of them shares that can spike quite quickly (a lot of the time on nothing more than a few hundred quids worth of trades) so if the timing is right there maybe money to be made, hes only put £750 in, for Apple thats like 1 minutes salary.
kempey
Posts: 1,501
Opinion:No Opinion
Price:0.0275
RE: Back in.......
3 Dec '18
Apple...why are you back in. I have over a million of these from years ago and had written them off as they are worth next to nothing now. I'm intrigued by what you see that I am not seeing.




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