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Herencia Resources

  • BY: Andrew Hore |
  • POSTED: 20/10/2008 |

Herencia Resources has increased its total mineral resource at its Paguanta project in Chile.

Herencia has a 70% stake in Paguanta which has a total mineral resource of 3.15m tonnes. The contained metal includes 124,000 tonnes of zinc, 41,000 tonnes of lead and 7.5m ounces of silver. A scoping study has been started.

Herencia has £960,000 in cash and it is trying to conserve that cash by cutting non-essential expenses. A scoping study will cost £40,000 but there will be no more significant capital spending before the end of this year.

At 0.48p a share, Herencia is valued at £2.89m. 

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