Herencia Resources begins 'reinvigoration' of board

Herencia Resources confirmed on Thursday that it has commenced a process of restructuring, which will involve the appointment of two new Directors over the next week to oversee Herencia's reestablishment as “a viable junior exploration and development company”.

As part of that restructure and subject to final negotiation between the parties, the AIM-traded firm advices that Peter Reeve will join the board as a non executive director.

It said a further announcement will be made in due course when the appointment is finalised.

Reeve has been involved in the resources industry for approximately 30 years, the board said, and as a professional metallurgist has held positions with Rio Tinto, Shell-Billiton and Newcrest Mining.

“The directors believe that, having served as CEO in various companies, he possesses the broad corporate skill base to assist Herencia's next challenging phase of development,” Herencia said in a statement.