"Commenting on the financing Herencia Chairman, Mr Peter Reeve said, “ Herencia is very pleased for the ongoing support of its key shareholders and their commitment to the Herencia story through all the companies recent restructuring. This commitment is testament to the strength of the core resources story within Herencia which centres around the very strong potential of its lightly explored copper tenements”."
"On 27-Apr-2017 secured funding by way of a placement of US$1,230,517 from the issue of 2,121,137,042 new ordinary shares at 0.045 pence."
My main concern is that Herancia has been in a major downward pressure since 2011!
The words ‘potential’ and ‘recent restructuring’ in the announcement is also a slight concern, as I will also assume that it will take some time for this restructuring to complete and there are always uncertainties with ‘potentials’. But that’s the risk that one takes.
There have been various volume spikes since Apr-2016 at these bottom prices however with downward price actions indicating the downward pressure.
So, could these shares be a bargain?
Perhaps ... but from a trendfollower perspective a big fat NO however she might turning around from the dip.
… Let’s keep an eye on HER shall we? Sorry for the pun but it just had to be done! :)
Box 1: 0.09 - 0.16
Box 2: 0.05 – 0.09
Box 3: 0.01 – 0.05