17 Feb 2017 09:28
Herencia Resources plc
("Herencia" or "the Company")Working Capital Update
The Company confirms that, following prudent cash management and an ongoing working understanding with creditors, it believes its working capital position remains satisfactory until approximately the end of February 2017.
The Directors are in discussions with its major shareholders to provide further funds to meet Herencia's working capital needs and to progress the development of the Picachos copper project. If these funds are not advanced, and if no further source of funds can be found, it is unlikely that the Company will be able to continue to trade.
Further updates will be provided in due course.
For further information please contact:
Graeme Sloan, Herencia Resources plc +61 8 9481 4204
Katy Mitchell, WH Ireland Limited (NOMAD) +44 161 832 2174
Jon Belliss, Beaufort Securities Limited (UK) +44 207 382 8300
References in this announcement to exploration results and potential have been approved for release by Mr Graeme Sloan (BAppSc Mining Engineering WASM) who has more than 20 years relevant experience in the field of activity concerned. Mr Sloan is a Member of the Australasian Institute of Mining and Metallurgy. Mr Sloan has consented to the inclusion of the material in the form and context in which it appears.
Further background details on the Company can be found at www.herenciaresources.com
**ENDS**