great news work commencing coming weeks , have to agree we dont want the pump and dump buyers this is long term for me especially after this morning news , i personly want to buy as many as i can to hold , i am glad for people who have held this share long term it now looks like your faith may be rewarded well done , some times patience pays
fantastic news, nice & easy does it , can but hope we dont see the pump n dump crews coming in, but as were are high on the volume traded board we may not avoid that. It is on the radar now, be interesting to see where this settles in a few weeks time with more news surely to come. GL all
Final statement sums it up really. Great news but a effing crying shame the mysteron is back with 4 mil aaaaarg!!!!
"This really is an exciting time for Herencia shareholders especially when you consider the Company now has a JV with a major Australian company at Guamanga; a completed Feasibility Study at Paguanta with plenty of upside; and our recently completed option agreement on Picachos, an advanced copper project that could host a significant copper resource and that could potentially be fast-tracked into full scale production".
This really is an exciting time for Herencia shareholders especially when you consider the Company now has a JV with a major Australian company at Guamanga; a completed Feasibility Study at Paguanta with plenty of upside; and our recently completed option agreement on Picachos, an advanced copper project that could host a significant copper resource and that could potentially be fast-tracked into full scale production".
· Leading Australian copper miner OZ Minerals advises its intention to commence work at Herencia's Guamanga Project following the completion of their due diligence work
· JV area to be expanded by OZ Minerals, with Herencia to be included in the larger area on similar JV terms
· OZ Minerals advises that it will seek to commence the Phase 1 site work program in late September
Herencia Resources plc (AIM:HER) is pleased to announce that a wholly owned subsidiary of Australia's OZ Minerals Ltd, OZ Exploration Chile Limitada, has advised that it wishes to commence Phase 1 work at Herencia's 100% owned Guamanga Project in Chile.
It is anticipated that detailed geophysical work will commence in the coming weeks.
OZ Minerals also advised Herencia that they believe a significantly larger project opportunity may exist at Guamanga and have commenced to acquire additional exploration leases to expand the overall Project footprint. OZ Minerals have advised Herencia that the general terms of the Agreement with Herencia, already in place, will apply to this expanded Project area.
The terms of the Agreement, as outlined in the RNS of 5 June 2013, are as follows:
§ Phase 1 - OZ Minerals will sole fund an initial US$3 million over 20 months to earn a 51% stake in the Guamanga Project
§ Phase 2 - OZ Minerals will sole fund an additional US$5 million over 24 months to increase their stake to 80%
§ Phase 3 - at the completion of Phase 2, Herencia can either remain at 20% (by co-contributing 20% of funds spent) or may opt for OZ Minerals to fund a further US$5M to increase the OZ Minerals equity to 90%
§ At the completion of Phase 3, Herencia can then elect to fund its share of project development costs or OZ Minerals, at their election, may consider the provision of providing debt funding to Herencia with the funding to be repaid to OZ Minerals from Herencia's share of profits
"I am particularly pleased to be partnering with a company of OZ Minerals' calibre and to work with them to advance the Guamanga Project in Chile.
This Agreement confirms that our asset base and local technical team in Chile continue to attract the attention and interest of global resource companies looking to invest in areas of enormous resource potential with low sovereign risk.
We are also greatly encouraged that OZ Minerals, one of Australia's leading copper producing companies, sees the potential to expand the footprint of our Guamanga Project and to expand the Agreement with Herencia to incorporate the extended Project area.
This really is an exciting time for Herencia shareholders especially when you consider the Company now has a JV with a
Too many want too much too soon, consider the quote from Kipling, "if you can wait, and not be tired of waiting" I can with the whole of my portfolio. Why invest if you are impatient having done the research.
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