Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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its not over yet! But investors will not see a return any time soon IMO.
Herencia Resources on Tuesday said it will be looking to relist on the London Stock Exchange, despite having been removed.
Herencia shares have been suspended from trading since February 25.
"The company is continuing to develop its portfolio and will seek a relisting on the London Stock Exchange as a new applicant as soon as possible. A delisting is not a new obstacle, given the company will undertake to produce an admission document for the relisting as a new applicant on the LSE, engaging in a regulatory process which is essentially the same as is required for a reverse takeover," said Herencia.
"There can be no guarantee either or both proposed transactions will complete in order to achieve this. The company will update shareholders as and when it is appropriate to do so."
The plan would be to review current copper assets in Chile, and look for other copper or gold acquisitions in South America. Herencia would be recapitalised, and a new nomad would be hired ahead of a capital raise post-relisting.
ATB fellow investors
It’s doom thanks for nothing Herencia I will be looking for the bod names and never
invest with them again
Tuesday is do or die day. Or shares are cancelled on AIM.
Accounts
Crap - not to be unexpected
Guess they’ll last until the end of the month then.
Thanks Dan - a lot of this goes well over my head (I'll stick to the day job ;-) )
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.