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Herencia Resources

  • BY: Andrew Hore |
  • POSTED: 08/10/2010 |

Anglo Pacific has taken advantage of the recent share price strength to almost halve its holding in Herencia Resources.

Fully listed Anglo Pacific has reduced its stake from just over 103.8m shares to 57m shares, equivalent to 5.93% of the company. The most recent sale was before Herencia upgraded is underground mining inventory for Paguanta to 1.66m tonnes at 6.1% zinc, 2% lead, 154ppm silver and 0.26ppm gold. There was no previous gold grade. The tonnage has increased by one-third and all of the grades have increased as well.

The Herencia share price has more than doubled in the past month. At 1.48p a share, Herencia is valued at £14.4m.

Herencia managing director Michael Bohm has exercised options over 12.4m shares at 0.75p a share and kept them. He owns 1.92% of Herencia.

Herencia’s goal is to reach a five year mine life with 400,000 tonnes per annum of ore throughput.

Download the October edition of AIM Journal at http://www.hubinvest.com/AIMPDFOctober2010_13.pdf

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