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mannnan. Do you have your brass in here?
the big 21,360,000 sell today is obviously to do with last RNS - adding the other larger sells seems probable that it was VSA PARTNERS selling
See if an other sellers in background
Still no update on finance / future plans
1. £12,500 equates to 46,360,000 shares for VSA Partners in London, and
2. £27,231.6 (23,319,810 Chilean Pesos) equates to 100,860,000 shares for Promet101.
any drill campaign for the need of the £90K which appears by the burn rate to cover two months. Why is it important for these investors, to keep the lights on for two months? We must be near enough or long past, out of cash, so what's going on? Guesses on a postcard!
Not sure if anyone can be bothered with this share anymore but it does occur to me that funding of circa £90K received in Dec 2018 from existing lenders was due to keep the lights on until end of January 2019. However, and assuming the Broadband has not been turned off, there has been no news since.
What I find interesting is that this further £90K has been thrown in to keep HER afloat for a couple of months. Aside the potential for throwing good money after bad, I wonder why. And further wonder why the broker etc is happy to be paid for its services in shares at 0.27 and yet there seems no sign of them selling same.
Is HER finally going down, or is there something else going on? A buyer? (Gasp.....what!)
Mms. Hand are tight
Personally
Im done with AIM after I get some type of money back.
Peeps have a look at PSL, at half HER's price and 'new' BoD taking company to a cash shell.Massive potential from current levels if they back intom the right 'start-up'....super high risk at 0.00013p
Holding out HERe but patience is waning, gla
28-Jan-1910:02:030.0245428,571 is a buy which is mine
its a minimal number of shares in great scheme of things but it just asks questions why they aren't paying these with the funds raised
So, next a consolidation and your holding will be next to sweet FA.
Happy New Year - just looked in to see if anything positive happening. Nope - so I continue to hold as it's not worth selling
The longer the copper stays in the ground the closer we get to this....
https://en.wikipedia.org/wiki/Peak_copper
So are we all...take a look at EQT and TCG...fings are looking up, in recovery modes. This is not a good time of year for bombed out stocks, we need something substantial to get us off our BACKS and back on our KNEES where we belong, lol
frigging lol
sorry for her
What positive news could you see coming?
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
(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.
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
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
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
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.
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.
LIND are significant Shareholders in both
https://emperorenergy.com.au/wp-content/uploads/2018/02/Notice-of-change-of-interests-of-substantial-holder-ASOF-Feb-18.pdf
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)
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.