Herencia Resources plc is a multi-commodity development company listed on the Alternative Investment Market (ĎAIMí) of the London Stock Exchange with a primary focus on developing its Paguanta Project in northern Chile.
Herencia Resources Price and Volume
Previous Close: 0.83p* (real time prices at ADVFN) Previous Range:0.81 - 0.835* Previous Volume:2327799 shares (down on average)* Trading:above the 50 day M.A. (0.8052) & below the 200 day M.A. (1.1613)*
The Hon. John Moore AO - £25,000
Michael Bohm - £11,397
John Russell - £22,880
Greg McMillan - zero
Graeme Sloan was appointed Managing Director on 1 July 2012 and his fees/basic salary amount of £148,118 represents base salary together with annual leave entitlement (no bonus was paid during the year). Michael Bohms executive fees/basic salary amount of £117,875 represents the period 1 January 2012 to 1 July 2012 following his step down from Managing Director to Non-Executive Director. Both Graeme Sloan and Michael Bohm's salary are paid in Australian dollars and converted to GBP£'s for the purposes of these accounts. The share based payments are non-cash payment, it is a 'calculated' fair value for share options granted during the year (refer note 21 to the financial statements).
So... GS isn't getting as much as MB was and the NEDs salaries have been reduced... so the Total has been reduced by £156,298 from 2011 to 2012.
Baseline Environmental Studies are mostly complete and a final environmental impact statement will be submitted by June 2013
􀁸 We are supported by shareholders who we believe understand both the base metals industry and the Chilean operating environment.
Herencia's goals for 2013 are to:
􀁸 Complete the Patricia Feasibility Study;
􀁸 Look to expand the Patricia Mineral Resource Estimate;
􀁸 Lodge permitting applications;
􀁸 Evaluate and develop a strategy surrounding the Guamanga copper-gold project; and
􀁸 Continue to seek new project opportunities in Chile. By OditMoras
) the allotment of equity securities in connection with an issue in favour of shareholders where the equity securities
respectively attributable to the interests of all such shareholders are proportionate (or as nearly as may be
practicable) to the respective number of Ordinary Shares in the capital of the Company held by them on the record
date for such allotment, but subject to such exclusions or other arrangements as the directors may deem necessary
or expedient in relation to fractional entitlements or legal or practical problems under the laws of, or the
requirements of, any recognised regulatory body or any stock exchange, in any territory
Is this a rights issue? By ash6666
I seem to remember deliveries were always on time and on budget for drilling, results, etc.
The reason the BFS was delayed was because of the re assessment of the shallow cores for potential open pit and the extension work at Patricia. The decision was unanimous and was always going to lead to delays. It was the first big decision led by GS. But what will deliver is a far more robust BFS, and its only days away. A lot of people, me included were getting excited about the silver potential but unfortunately the pos has been smashed recently and this doesn't help.
I predict more emphasis on Zinc this time... Funny that!
I think the market is not responding partly because HER management, unfortunately, have failed to deliver the feaso to their own timelines on at least 3 previous occasions. The failed expectation caused by the the last delay, being still in shorter term memory, I'm guessing, is keeping many on the side-lines, at least until they see the RNS. However there was no mention of delay in the last RNS, although the environmental stuff is not out until June of course. Also the last funding event before a possible news-driven price hike seems odd unless this was prearranged.
I have also been here over 3 years and although I am waiting for production before selling, it would be nice to see HER achieve a new baseline price well up from this sub-1p of recent times and nearer the 1.5 - 3p range where many long term holders, me included, can happily wait for production in profit rather than in loss. By jobo123
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think we might get the feaso rns this friday- before close- gives us 3 days to digest before markets open on tuesday? then further news tuesday, more feaso, then friday more news with a drill programme and timeline on permits?
musing of course- corbs:-)
is that being retired you tend to forget when they come along- not the same sense of excitement eh?
Audrey i suspect everyones idea of fair value will de different for different reasons? how theyve judged value in ground, accuratley or not, how much larger resource can be? what the upsides are? more proving up before first production from open pit, upside potentials, with the right partner, swot analysis what risks are close what threats, what % confidence factors to attach to threats eia? permitting? indigenous? water supplies? world affairs-demand of the poly bag we have, metal prices in future- how good is aim at presenting our share base? how good is our nomad? value for money?
p.r. how good an where is it? whats nyrstars intentions long term? whats codeloc up to? bhp down the road? how much do they know? do we really have apolymetalic elephant under paguanta? or not, how much mileage is in our guamanga targets- what if a pcd is under there? could guam suddenly prove bigger than patricia (in hinsight) going back to pag will la rosa give a pcd under 200 metres? our mcap is currently? 14.4 million
patricas possibly got over $500 million worth under there and maybe multiples of that under paguanta as a whole. guams value we can not assess yet or la serena as they are unrealised.
aim is also muddy so our fair value? we are where we are :-)
no comment-corbs musing:-)
it gets complicated (unneccessarily so) and the muddiness between nominee and certificated holdings- I dont even get an email, tho im registered. My large holdings are hidden in one of the nominee lists- not my choice. nothing i can do about it. its something some analysts are trying to bring to aims attention-it needs amending.(ia gree it does)
its like the second matter on the her link- notice of agm. i would have thought it needed an rns to bring up to date mention to wider audience and the agenda. not required. apparently it will be in amongst the finals youve been browsing through. (i didnt see it first time)
can you spot it?
finally some good news re agm , Mike Bohm is again up for reelection as a neddy- for those that thoughthe had nowt to do with herencia since he stepped down, think again. hes still actively involved. as well as being a top 20 shareholder with his wife charmaine lobo having holdings within the lists. :-)
less than 7 days for feasibility study-preferably not in spanish or chinese (for some reason chileans also speak german and croatian)