Herencia Resources (Herencia) is an early stage AIM quoted mineral exploration and development company and hence is not without risk. It is focused on the Paguanta project in Chile which comprises three projects in one, Patricia, Doris and La Rosa. It is also earning in a 51% controlling interest in the Guamanga copper-gold project in northern Chile under the terms of a May 2011 agreement. It has been able to demonstrate ongoing progress in 2011 and since April 2010 Nyrstar has been a major shareholder and has a seat on the company's board. On 10 November 2011, Herencia announced it had raised £2.36m in a placing at 2p a share. The proceeds will be used for the Guamanga and Paguanta projects plus working capital. Nyrstar is maintaining its 10.15% holding and Megeve Investments, a leading Chilean family investment fund has increased its stake. It is expected that trading in the new shares will commence on 17 November 2011.