11th Sep 2007 07:00
Mineral Securities Limited11 September 2007 ASX / RNS ANNOUNCEMENT INCREASED SHAREHOLDING IN HERENCIA RESOURCES PLC 11 September 2007 Mineral Securities Limited ("Minsec", ASX and AIM ticker: MXX) is pleased toannounce that the performance conditions for the issue to it of 50 millionshares in Herencia Resources plc ("Herencia", AIM: HER) have been satisfied. The issue of the performance shares, for nil consideration, forms part of theconsideration payable to Minsec for the sale of exploration interests toHerencia in 2005. Upon the issue of the shares, Minsec's shareholding increasesby 47 million shares (i.e. net of third party obligations of 3 million shares)to a total of 199.7 million shares, representing 46.0% of Herencia's expandedcapital. Herencia announced last week the successful completion of a 5,900 metre drillingprogramme its flagship Paguanta zinc-lead-silver property in northern Chile.Herencia has a 50% interest in the Paguanta project and can increase thisinterest to 70% through meeting a gross expenditure commitment of US$2.0million. Herencia now aims to commence work aimed at quantifying a resource atPaguanta and to further consider the open pit mining potential of the project.Further information on Herencia can be found at its website,www.herenciaresources.com. Minsec Chief Executive Officer, Keith Liddell, commented: "It is pleasing tohave increased our equity position in Herencia at a time when its Paguantaproject is reporting very encouraging results from its exploration programme." For further information contact: Mr Keith Liddell, Chief Executive Officer +44 20 7152 6230 (UK) +61 89221 7466 (Australia) Martin Eales, RBC Capital Markets +44 20 7029 7881 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Herencia Resources