By Robert Tyerman | Wednesday 5 August 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Out-of-favour Herencia Resources (HER) has signed a non-binding memorandum of understanding (MOU) with local Chilean mining group Erazzuriz to combine two copper projects in the north of the South American country. The proposals envisage creating a new company to process ore from Erazzuriz’s two underground mines at Tambillos in the same area and from Herencia’s proposed open-pit operation at nearby Picachos, which holds an estimated 10.7 million tonnes with 0.61% copper and silver at a modest 5.6 grammes per tonne, measured and indicated.
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