30th Nov 2016 16:05
LONDON (Alliance News) - Herencia Resources PLC was teetering on the edge of collapse on Wednesday after admitting it has still not found any funding to keep the business afloat, having recently warned it could only last until the November.
"The directors are in discussions with the company's major shareholders to provide further funds to meet its working capital needs and to progress the development of the Picachos copper project," said the company.
"Whilst the directors have every confidence that these funds will be made available there can be no guarantee that they will be advanced. If these additional funds are not advanced, it is unlikely that the company will be able to continue to trade," Herencia added.
Herencia shares were down 20% to 0.0180 pence per share on Wednesday.
By Joshua Warner; [email protected]; @JoshAlliance
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