1st Jun 2016 16:10
LONDON (Alliance News) - Herencia Resources PLC, a Chile-focused minerals explorer, on Wednesday said it has enough working capital to last until next week, having previously guided it had enough to last until approximately the end of May, thanks to "prudent cash management".
"There can be no guarantee that the company will be able to trade after" next week, Herencia Resources said.
"The company also confirmed it is in discussions in respect of the advancement of a small, short term loan from its significant shareholders. There can be no guarantee that the loan will be advanced at this stage, and further updates will be provided in due course," Herencia said.
Herencia also said that negotiations with Golden Rim Resources Ltd for the sale of Herencia's 70% interest in Paguanta, announced in May, are progressing well. "There can be no guarantee that this transaction will complete and further updates will be provided in due course," the company said.
Shares in Herencia closed up 0.6% at 0.0352 pence Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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