Company Overview
Directors
Advisors
Committees
Constitution
Admission Document
AIM Releases
Financial Reports
Shareholdings
Herencia Resources plc is a mineral exploration and development company listed on the Alternative Investment Market (‘AIM’) of the London Stock Exchange with a primary focus on identifying resource opportunities in South America.
The Company has the advanced Paguanta zinc-lead-silver-gold Project in northern Chile. Herencia aims to develop this existing asset as well as identify further projects to generate future value for the Company.
Paguanta Project - the company has earned a 70% interest in the project covering 39 sq kilometres in the world famous Chilean copper belt. The project encompasses both the 'Patricia' Zinc-Lead-Silver-Gold Resource and the 'La Rosa' porphyry-copper target.
Drilling was initially undertaken at Paguanta in December 2006 with assays confirming a significant, multi-veined mineralised zone. Eight out of ten holes drilled into the ‘Patricia’ target intersected mineralisation with four of these holes returning higher grade zinc, silver and lead assays. Highest individual grades of 15.75% Zn, 447pm Ag and 5.58% lead were returned (over 1m samples). Subsequent surface rock chip sampling has extended the zone of anomalous mineralisation to the east by approximately 300m with best results of 1515 and 1075 g/t Ag.
An extensive follow-up program comprising 5,339m of RC drilling was completed in June 2007 and was the basis for the companies maiden Inferered Mineral Resource statement being published in October 2007.
In September 2008 the company completed a 9,986m diamond and RC drilling program aimed at extending/upgrading the 'Patricia' resource and testing the 'La Rosa' porphyry-copper target.
In October 2008, the Company announced an upgraded Mineral Resources Estimate (Indicated and Inferred) of 3.15Mt at 3.9% Zn, 1.3% Pb and 74g/t Ag (at a 2% zinc cut-off). This Mineral Resource Estimate complies with recommendations in the Australian Code for Reporting of Mineral Resources and ore Reserves (2004) by the Joint Ore Reserves Committee (JORC) of the AusIMM.
In December 2008 the Company released the findings of a Scoping Study carried out by Golder Associates. The outcomes concluded the project was technically robust, with mineralisation open at depth and grades appearing to increase with depth. Significant gold mineralisation of up to 4.5g/t in drill intercepts and 1.5g/t in a 150kg bulk sample have also been achieved.
In September 2009 the Company announced that all 14 'exploitation' tenements (equivalent to mining tenements) had been granted for the project.
In October 2009 the Company succesfully raised GBP1.34 million and in Janaury 2010 announced that Major Drilling would undertake a 3,500m diamond drill program commencing in February 2010. The aim is to test the potential for depth and strike extensions to the known mineralsiation at Paguanta. Drilling should be completed in April/May and subject to results an update to the Mineral Resource Estimate could be published in mid-2010. Positive results from the drill program could lead to the Project moving into a Feasibility Study phase by 2H2010.
The project is strategically positioned in a stable political environment in good proximity to infrastructure, mining services, ports, transport, and water.
Michael Bohm
Managing Director
Michael Bohm is a mining engineer having extensive experience in operations management, evaluation and project development in Australia, Northern Europe, SE Asia and North America. Michael has over 20 year’s minerals industry experience predominantly in the gold, nickel and diamond sectors in both open pit and underground mining environments.
His corporate experience includes previous directorships at Sally Malay Mining Limited (now Panoramic Resources) in Australia (ASX) and Ashton Mining in Canada (TSE). He was also previously on the board of the Argyle Diamond Mines Joint Venture. He is currently a Non-executive Director of ASX/TSX-listed Perseus Mining Limited.
Mike's responsibilities incorporate oversight of all activies in relation to the companies operational activities and representation on JV and subsiduary company boards.
Hon John Moore AO
Non-Executive Chairman
The Hon John Moore AO holds a Bachelor of Commerce and Associate in Accountancy from the University of Queensland. John has had a distinguished career in Australian politics; he was the Minister for Defence, the Minister for Industry, Science & Tourism and Vice President of the Executive Council.
Prior to entering politics, John Moore was a stockbroker and member of the Brisbane Stock Exchange. He has served on the boards of many broking and banking related companies including Citinational Limited, Merrill Lynch (Aust) Pty Ltd and Grindlays (Aust) Pty Ltd. John is currently Chairman of ASX-listed Corvette Resources Limited.
In additional to his chairmanship, John's responsibilites at Herencia also include membership of the audit committee.
John Russell
Non-Executive Director
John Russell has over 30 years experience in Investment Banking. He was a member of the Australian Stock Exchange and a partner in Bain & Company. He has had 20 years experience in London and New York as head of Bain’s Branches in both cities. In 1992 Bain was acquired by Deutsche Bank AG and John continued as senior Director of Deutsche Bank Australia in Europe until the end of 1999.
Since retiring from Deutsche Bank John has been providing consulting services to smaller technology companies. John is Chairman of Henderson Far East Income Limited.
John's responsibilites also include Chairmanship of the audit committee.
Nominated Adviser and Broker
WH Ireland
11 St James’s Square
Manchester
M2 6WH
Auditors
UHY Hacker Young LLP
Chartered Accountants
Quadrant House
4 Thomas More Square
London E1W 1YW
Solicitors
Watson, Farley & Williams LLP
15 Appold Street
London EC2A 2HB
Cariola Diez Perez-Cotapos
Av. Andres Bello 2711, Piso 19
Las Condes, Santiago - Chile
Registrars
Capita Registrars
Northern House
Woodsome Park, Fenay Bridge, Hudderfield, HD8 0LA
Telephone +44 0871 664 0300
Principal Bankers
ANZ Bank
77 Georges Terrace
Perth WA 6000 Australia
Barclays Bank plc
7th Floor
United Kingdom House
180 Oxford Street
London W1D 1EA
The Board of Herencia Resources plc has established the following committee:
Audit Committee
The committee is made up of two Non-executive Directors - John Russell (Committee Chairman) and the Hon. John Moore AO. The Audit Committee is responsible for reviewing the Company's arrangements with its external auditors, including reviewing the independence and objectivity of the auditors.
The Committee also reviews the appropriateness and application of the Company's accounting policies, including any changes to financial reporting requirements. The Committee reviews the major financial announcements made by the Company including its interim and preliminary announcements and annual report and accounts.
CONSTITUTION
To view a PDF of Herencia Resources Plc Memorandum and Articles of Association,
please click here.
Herencia Resources plc was incorporated in the UK in 2005 and its main country of operation is Chile.
Click here to view AIM releases page
Click here to view Financial reports page
The Company has 860,932,470 shares on issue. There are no restrictions on the transfer of any of the shares on issue. As far as the Company is aware the percentage of issued shares not in the hands of the public is 12.79% comprising shares held by substantial shareholders (>10%) and directors.
Details of other significant shareholders (>3%) and other major shareholders can be viewed here
