Heritage Gold...HGD

[ScrappyO]

IMO they were maybe hoping that the Uranium Exploration license application might hold up the Share Price but they were a couple of months short.Company has great potential but Investors just dont want to part with their money until HGD has something concrete in place that will assure them a return. 22yrs is a long time to wait if you are a foundation shareholder.

[BAPP]

Hi Jess9,

Good overview. Looks like someone in Aussie may agree with your sentiments also.

IMO we will have a one or two answers in the quarterly report.
(including new MD/CEO)

Cheers
BP

[Jess9]

Opened up 19% on ASX, on 205K.

[etrader]

quote:Originally posted by Jess9

Opened up 19% on ASX, on 205K.

HGD now trading higher on the asx in relation to the nzx, or to put to put it the other way hgd trading at a discount on the nzx, yes only smallish volume but have not seen the asx trade higher for a while.

[Rik]

Anyone want to buy any Heritage Gold shares for 9.3cetns? haha .I'm down 33% and for some reason I'm still positive things will turn around, there is no real reason for the share price to keep falling or is there somthing I don't know?

Does anyone one know the volumes of the shares traded at 5.9 cents?

[stephens.pc]

25000 at 12:38pm

[Jess9]

quote:Originally posted by whatsup

Jess. Yeh but what you havent spoken about is the fact that the warrant conversion was massively under subscribed ( dont think that too many of the executives fronted up $ wise) which is in its self very very interesting indicating lack of confidence in the company as a whole and its 3 imediate prospects. This is one reason that I think that no chief ex hasnt been appointed ,if I was a contender for the position the first thying that I would need to see is ,as they say " SHOW ME THE MONEY" from the warrant conversion, as a s/h the one major question that needs to be asked is what is the fall back position?

Hi Whatsup. My understanding is the warrant money would of been put to good use, but would only have been added to working capital, it was not project critical or specificly required.

Until the last few months it was not even likely any conversion would occur, on this basis, the 200K or so received unexpected and I guess bolster existing project funding. In respect of this, I think that;

+ the Uranium exploration programme is already funded from the share placements made as part of the uranium joint venture deal,

+ BHCL (the cobolt project) is likely to be funded through its own process - one assumes mostly IPO with possible some debt funding, depending on how far away a BFS could be.

+ Waihi share placements were made late last year for the drilling programme currently underway. The Annual Report indicates further exploration/developement could involve JV, which indicates to me that part of any deal would be for the joining entity to contribute significantly to and for this - in return for an ownership interest.

Therefore, for a junior explorer, HGD presently appears to have adequate funding. Ig HGD hits something big (from the above work) seeking funding will not be any concern ; )

Anyway, thats my thoughts.

[BAPP]

Nicely summed up jess9.

Also I'd just like to add that if you read the credentials of all the Directors, (especially Mr Hill and Mr Grigor) they are all reputable business people and have too much to lose by not at least trying to take HGD to another level.

The company seems to enough working capital to maintain drilling programmes and as you rightly indicate further funding will be easy to find if the main projects progress as we hope.

Sorry whatsup, I don't believe any MD/CEO worth 'his/her' money would ask the above mentioned question. There are many more important factors( "than show me the money from the warrant conversion') to consider when taking on this type of role.

As I said earlier, "IMO a MD/CEO will be appointed in the next month or so". We have an AGM in August which will be the prime time to announce an appointment.

Cheers
BP

PS: Hi Rik, I understand how you feel. A month or so ago I was over 120% up and today I'm only 20% up. That's a big 'paper' loss. But as I always say, have a plan and stick to it and go with your 'gut' feeling. Do your research, then ask yourself what has changed!

[whatsup]

Good comments Jess& Bap but my point in saying "show me the money" is that if I were a ceo

[whatsup]

Good comments Jess & Bap but my point in saying "show me the money" is that if I were a ceo/md who was to be employed by a company especially a miner and my compentence was to be judged in the future by my results then I would want to make sure that any company that I worked for had enough resources/funding in place so as to carry out the tasks necessary and not do a half assed job because the funding was not available in the first place.