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In a Nutshell
Herencia are broke and couldn't pay the NOMAD who instigated winding up petition
LIND & DARIUS have come together, albeit it seems reasonable one of them wasn't forthcoming 6 months ago, to provide a further short term cash loan to Herencia, 2 months (likely 3-4 months in Herencias case) to keep the lights on, remember these two parties have now invested multi millions (it does seem to me they are chucking good money after bad) - now the monies have settled, formal resignation of the NOMAD & Joint Broker has happened, Herencia have to get a new NOMAD and further finance sorted in the next few months, fending off winding up petitions is likely very close to the final nail, they haven't done any work on site for nearly 2 years now and last update they were still in arrears on their options, without any financing it is extremely likely these are still well in arrears.
Anyone able to explain the latest RNS in simple terms to a dullard like me ?
Yes And it don't look good now Aaahhhhhh
I have been informed of the following.
Would this be the START of the END..........
Corporate Action – Herencia Resources – Delisting
Herencia Resources plc has announced that WH Ireland Limited has resigned as Nominated Adviser and Joint Broker to the Company with immediate effect.
Pursuant to Rule 1 of the AIM Rules for Companies, if a replacement Nominated Adviser is not appointed by 7am on Tuesday 27th August, admission of the Company`s shares to trading on AIM will be cancelled.
The Company`s shares remain suspended from trading on AIM at this present time.
I've got 3 of a kind if this delists..
Jeez MJFMSG...... you in this as well ..... we don't half pick em eh!! LoL ...
I know i could turn this around ; To making profit , But would not be allowed as i don't have all the letters and dots after my name G L A
Like many I suspect, I did have a few Bob in this year's ago but it's worth pennies now ... gave up on this a long time ago just became too stubborn & pointless to sell.... so WHI have resigned just another step to the inevitable in my opinion ... delisting ....maybe to asset match .....maybe to the wall ... no longer bothered to be honest....
is there anyone in this for a lot of money will be disappointed with the RNS
Never RNS'd the AGM, sure i looked originally few weeks ago on website and wasn't there but a circular is now there
The BOD have the ability to borrow up to £1.5m without shareholder approval, which is basically its market cap, the interesting point here is about 30% of the vote was against - which i assume can only be one of the major investors (LIND or DARIUS)
considering they are looking for finance, but we know at least one of the existing shareholders didn't agree to lend more, (hence the suspension) - it opens the way for a new investor to come on board (if they can find one)
still not had any drilling in 18 months, cash constraints and legally don't own Picachos and are behind in the structured payments, (unknown if any new agreements are in negotiation) - there is little left to save here
No idea. No context beyond "we had a meeting about stuff and agreed things". FFS.
Rns out but when r we trading again come on bods
I think its because its suspended and the information not been plugged in correctly to new website
What does that mean. Has it gone or is a blip. Odd but nothing would surprise me with this.
I think its 6 months Amtech
Doesn't the AGM need to be announced? - i can't see anything on website or RNS???
There is a GM of the Company on the 28th June so we will learn more then I suppose.
Morning DB, do you know if they have a time limit on suspension?
ZZZZZ still in hibernation here
It was always only a matter of time before these funders took to company DB.
I think a funding package would have been sorted by now if it was proceeding
Unfortunately I think this is lights out here
Thanks
MXO has potential but AJE isn't worth the Market Cap
I will wait and see what happens on the AJE field and other investment done by MXO if the Sheikh is really going to drive it forward, its going to be a long road there but i would be more positive there than here
MXO is just overvalued on pure speculation of having one (hopefully decent) large investor, it doesnt male an asset worth a few million worth £50million+ like some are spouting
Yes, re Herencia I'm resigned to the fact it's going the same way as my other mining ventures - was so optimistic at the outset.
I think your fair assessments and comments on MXO are sound and hopefully a reasonable longer term investment.
I don't think I'll be giving up the day job any time soon.
BW
MXO fair value on that RNS is circa £10m Market Cap in my honest opinion (5% of Revenue for an Asset that needs a lot of Development) - the producing element there is so small
thats based on the 2p resources published today
In regards to Herencia, its been a long watch - no drilling now for 18months, i would be prepared for this to go in the next few months, we already know that the purse is virtually empty and no update on any finance, not even the usual £100k support loan from Lind and Darius
Yeah mate. Still in MXO and thankfully averaged down over last 12/12 so actually done well with recent events. Watching with interest where it's going and next few days probably going to suggest which way it's heading. Low threshold for getting out but if the rampers are even half right could hang in a bit longer.Could do with a Sheikh showing interest in Herencia for a bit - heavily invested here and 80% odd loss.
Hi mate
Are you still in MXO - nice rise there but im not a fan of big rises just because of a Sheikh buying 30% at a real cheap price
Too many new people jumping in and will be well gone from there in the next few weeks
Still no change here in Herencia and no updates on website - just waiting for Funding which is in doubt judging from the last RNS