Heritage Gold...HGD

[doon]

Thanks Doon. I thought it was a bit odd. When I searched Heritage options on Direct Broking I only got the two.

Haven't noticed you on this thread before strat- good to see some more interest in Heritage. You will find some good posters here, and in my opinion some very good upside potential in the not too distant future. The 08 opts may be a bit too 'touch & go' though, but the 09 ones would be a good punt (if you can find a seller) and the heads most definitely at current levels. I prefer HTM, not intending to sell any of mine!

[STRAT]

Haven't noticed you on this thread before strat- good to see some more interest in Heritage. You will find some good posters here, and in my opinion some very good upside potential in the not too distant future. The 08 opts may be a bit too 'touch & go' though, but the 09 ones would be a good punt (if you can find a seller) and the heads most definitely at current levels. I prefer HTM, not intending to sell any of mine!Actually Doon Ive hung around here before annoying the locals but you might have to go back to around page 50.

and you are spot on, there are some excellent people on this thread.

[BAPP]

Well it was good to have something interesting to read over the weekend.:)

As commented previously, the recently released Annual Report, Shareholder letter and Geophysical Survey announcement, all signal a positive outlook and indicate that the funds raised last year are now being put to 'good' use.

I was impressed by the informative Directors report and also by the slightly more ‘personal touch’ with the inclusion of a letter to shareholders from the Chairman, Mr Hill.;)

For me, this signalled that the company’s management does want to improve shareholders relations and that the current management team is focussed on building investor confidence and wealth.:D

There were several positive pieces of news announced all which have been already been highlighted by Jess9,... however I still came to the conclusion that it will ultimately be the results from the current drilling programmes at Waihi that will dictate the ‘real’ value (share price) of this asset.

With the ‘next lot’ of options expiring at the end of September (see page 18 of Annual report)...the onus must be on the company to provide the signal to the markets and shareholders that their assets are worth ‘substantially’ more than the current share price indicates.

I’m sure many ‘option’ holders (including myself) will be having to make serious evaluations over the next few months.:confused:

It would be very disappointing to see a potential $2.3 million dollars of working capital not eventuate due to the market undervaluing the assets of the company.

For instance:

“Drilling of the geophysical and geochemical anomalies at Waihi North has commenced. To date Heritage has invested $1.8 million in exploration on Waihi North and is currently spending $200,000 on drilling targets identified from these surveys.

Based on exploration results so far, Heritage plans to lodge an application for an appraisal extension on their Waihi North permit later this month.”

... but of course why would anyone ‘take up’ their options at the current share price!:rolleyes:


..... and as we already know these projects are capital ‘hungry’ and IMO there is no doubt the company will need to acquire more funds at some stage to maintain progress.:o

......unless, as Croesus suggests there is more happening then Trent can disclose at this stage.;)

The people at Newmont are not ‘silly’. :p They will let Trent and his team do all the ground work .. so to speak ...and if the new drilling programme signals good gold grades then ‘watch this space’.

Then the Question maybe as simple as this!

What would you do if your next door neighbour found gold in his backyard, but didn’t have the equipment and facilities to extract it ... yet you may have to ‘shut up’ shop because you were running out of gold reserves on your property?:rolleyes:

But then again, I don't think we should 'jump' into any conclusions... 2nd quessing can create misconceptions.

The next quarterly report is due out at the end of July and it will be interesting to see any reports prior to that time.

The management of HGD doesn't have time on their side if they want to assure option holders ‘take up’ their shares...

However at the same time the 'swing' might just be favouring HGD with regards to their ‘big brother’ neigbour and time may just be on their side on that one.

Fingers crossed for some positive drill results at Waihi North and forward progress on extracting ore/gold from the Talisman in the near future.

Interesting weeks ahead... good luck to all shareholders who have been waiting patiently.

Lets hope for a change of fortunes.

Cheers
BP:)

Disclosure: Hold plenty (see website) ...DYOR .... good to see Strat is still watching in the background too!

[doon]

For those interested who cannot find the letter from the Chairman Hill that BAP refers to (and Jess9) try this

http://www.asx.com.au/asxpdf/20080627/pdf/319vpwnxrf6mxf.pdf


It precedes the annual Report. The annual report from Direct Broking announcements HGD.NZX is 24 pages and misses out the first 2 pages, as does the link from the Heritage web site?
The DB link from HTM.ASX is 26 pages and includes it.
Knew I had read it somewhere, but drove me nuts trying to find it again :( I think this is correct, but wasted so much time trying to find it not going over things again to check this out. Worth reading so hope this helps others.

[croesus]

Thanks Doon. Interesting reading....certainly feeling a lot more hopefull.. regarding the management and the prospects for HGD in the last week....whilst not wishing to get carried away.. or put a hex on our prospects.. I will suggest that either when we start mining.. or enter a J.V. possibly some of us long suffering HGD holders may like to meet in Waihi... for a onground look.. and a couple of drinks... would be good to put a face to a few nom.de plumes.

I would definately be a starter.

Cheers Croesus.

[Woody51]

Stocknessmonster.com carries the chairman's letter under the ASX code HTM.

Trying to think of something insightful to say, but I think it has all been said. Let's hope the general market comes right this week, or it might not matter what the drilling turns up. It's a jungle out there ...

[Greenfield]

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10519021

[croesus]

Over 2 million traded today (AU/NZ)...........

[etrader]

Yes a good volume day for a small cap'd company equal highest volume today this year on nzx with a slightly higher sale price than previous highest volume.

The media reports are going to give wider awareness to new investors from info that has been published to investors previous however the latest ann are starting to hot up in my mind to the scale of where hgd will be 1 year from now. We're still a penny dreadfull that when it turns will finally bring home some gold for long suffering investors.

I do like Trents style.

[Jess9]

gold grinding higher in support ; )

[Jess9]

I wonder why the delay on the scoping study.

[croesus]

Hi Jess, have I missed some thing..? I did'nt know there was a delay?.....was it due last week.?

Cheers C.

[Jess9]

Hi Croesus, I was anticipating this about now... the following is an extract from the Quarterly to 31 March 2008:

"SCOPING STUDY ON TALISMAN PROJECT

On 18 March, Heritage announced its intention to undertake a Scoping Study as part of the process of evaluating the Talisman mine asset and commencing to move it forward as a development project. The company will engage a recognized, external mining specialist to provide advice and a critical appraisal of the study. It is anticipated the study will be completed by mid June."

Could be interesting to know why the delay, it may of course just be the usual hicups associated with this kind of thing. Better late than never, and August is nudging up against 08 option conversion ; ) Something dramatic around that time is all it would need.

[Jess9]

I wonder if 30 June selling kept pressure on buyers today, I guess we will see tomorrow and over the remainder of the week.

[Woody51]

Maybe tax loss selling in OZ, but interesting they were all being snapped up. Something's brewing here, no doubt about that. Not sure we can expect much in the way of announcements though until Trent is back from leave OS. Maybe Merrill Lynch are doing the buying?

[ScrappyO]

Hi Croesus, I was anticipating this about now... the following is an extract from the Quarterly to 31 March 2008:

"SCOPING STUDY ON TALISMAN PROJECT

On 18 March, Heritage announced its intention to undertake a Scoping Study as part of the process of evaluating the Talisman mine asset and commencing to move it forward as a development project. The company will engage a recognized, external mining specialist to provide advice and a critical appraisal of the study. It is anticipated the study will be completed by mid June."

Could be interesting to know why the delay, it may of course just be the usual hicups associated with this kind of thing. Better late than never, and August is nudging up against 08 option conversion ; ) Something dramatic around that time is all it would need.


I remember reading somewhere in the last report that it has been put back to august when we will find out?

[Jess9]

Maybe tax loss selling in OZ, but interesting they were all being snapped up. Something's brewing here, no doubt about that. Not sure we can expect much in the way of announcements though until Trent is back from leave OS. Maybe Merrill Lynch are doing the buying?

Hi Woody,

Looking at the changes between 9 June and 30 June 2008 I see that number 2 (per the 9 June List) - ML/Fortis has dropped its holding from 5.10 to 4.98% or by 350K (wonder if someone just over stepped the mark by accident?)

There is also a new top twenty holder at number 15 holding 0.98% (personal name - not a coy won't therefore post).

Be very interesting to see (post 30/6) if the recent seller or sellers at between 2.2 and 2.8c AUS - have now left the building. Without that pressure, the HTM/ASX price should spring back a little - even on no news ; )

[BAPP]

Hi Woody,

Looking at the changes between 9 June and 30 June 2008 I see that number 2 (per the 9 June List) - ML/Fortis has dropped its holding from 5.10 to 4.98% or by 350K (wonder if someone just over stepped the mark by accident?)

There is also a new top twenty holder at number 15 holding 0.98% (personal name - not a coy won't therefore post).

Be very interesting to see (post 30/6) if the recent seller or sellers at between 2.2 and 2.8c AUS - have now left the building. Without that pressure, the HTM/ASX price should spring back a little - even on no news ; )

Hi Jess9,

I would suggest that the top shareholders has remained 'reasonably' stable over last year or so and I would also suggest that many of the top 20 shareholders hold 'further' interest in the company(HGD) through other 'parties' which may just be outside the top tier .. or off the radar so to speak.

IMO we should focus on the 'facts' that come from the 'forthcoming' announcements.:D

Positive drill results over extensive areas and progress at the Talisman will provide the evidence for the markets and any other interested party... no matter what 'one or two' shareholders are up to.... and patient shareholders like us will be the beneficiaries. :)(I hope!)

Cheers
BP:)

Disc: Have increased my shareholding also ... and as always I recommend everyone DYOR

[Jess9]

Spot on BAP : )

[STRAT]

Ok, which one of you lot spent $76 today to get HRD to go against the grain of an abysmal winters day on the stock market? :D:D:D

[doon]

Ok, which one of you lot spent $76 today to get HRD to go against the grain of an abysmal winters day on the stock market? :D:D:D

Wasn't me strat, promise. With my brokerage fees would have cost me effective about 5c share so would only be a 10 bagger when it gets to 50c- Not interested in anything less than 10 bagger :)
Anyway I am only interested in HTM as cheaper over there, and we should be 1:1 by the time this current market turmoil sorts itself out and I am able to sell anything and get the funds back here!

[Oiler]

Wasn't me strat, promise. With my brokerage fees would have cost me effective about 5c share so would only be a 10 bagger when it gets to 50c- Not interested in anything less than 10 bagger :)
Anyway I am only interested in HTM as cheaper over there, and we should be 1:1 by the time this current market turmoil sorts itself out and I am able to sell anything and get the funds back here!

Strat.. I can assure you it wasnt me ;)

I have to admit though I am buying on the OZ market for the same reason as Doon.

In a sadistic sense I love this bear market. Buying opportunities coming up everywhere. :cool:

Oiler

[STRAT]

Strat.. I can assure you it wasnt me ;)

I have to admit though I am buying on the OZ market for the same reason as Doon.

In a sadistic sense I love this bear market. Buying opportunities coming up everywhere. :cool:

Oiler
Haha Oiler. I must confess to a rekindled interest in HGD for some strange reason :rolleyes: but Im keeping my bids on everything including HRD low to the point of being rude. I think we are in for a real beating over the next few months so I want my bargains to be bargains if you know what I mean.
It would be unfortunate for heritage to finally get their **** in a pile just as everything else turns to custard. I suspect when the Yanks finally fess up to being broke all manner of @#$% will hit the proverbial fan. Dont know how the ASX will fair until they finally separate from the US but that may come sooner than we all thought. I see CSG as a significant player in holding up the Aussie economy in the future and have bet a few bucks on it. Havent managed to get any HGD yet bidding Aussie prices on the NZX but am keen though not entirely confident they will get it together in a timely fashion.

Hi Doon, not you spending $76 either eh?
That elusive 10bagger. I want one of those too. Better lower your bids mate. The brokers will screw you with the exchange rate in both directions buying em on the ASX:D

[BAPP]

Ok, which one of you lot spent $76 today to get HRD to go against the grain of an abysmal winters day on the stock market? :D:D:D

Hi Strat,

I would suggest that this may be someone just 'rounding off' or 'finalising' a purchase which has not quite been completed over past few days.

Cheers
BP:)

PS:.. and no it wasn't me.:)

[BAPP]

Another media release for HGD in today's NBR, indicating the transition from explorer to producers is 'inching' closer. :D

The article indicates that Heritage has began 'limited' ore extraction from the Talisman mine, but has been unable to reach a deal with Newmont for processing.

hmm.. I wonder if Newmont's stance will change when the drilling results at Waihi North are announced?

No doubt we will be watching with interest!;)

Cheers
BP:)

[Oiler]

Another media release for HGD in today's NBR, indicating the transition from explorer to producers is 'inching' closer. :D

The article indicates that Heritage has began 'limited' ore extraction from the Talisman mine, but has been unable to reach a deal with Newmont for processing.

hmm.. I wonder if Newmont's stance will change when the drilling results at Waihi North are announced?

No doubt we will be watching with interest!;)

Cheers
BP:)

BAP

I am not surprised at Newmont's stand at this time. :rolleyes: I think in the end we will have the "last laugh"

My HGD/HTM portfolio continues to increase :D

Oiler

[BigBob]

Another media release for HGD in today's NBR, indicating the transition from explorer to producers is 'inching' closer. :D


Any chance of a link....??

Oh, and thank you for your contributions to this thread over the last few years... I have been DMOR, but you have often been the catalyst & I now hold a fair bit...

[BAPP]

Any chance of a link....??

Oh, and thank you for your contributions to this thread over the last few years... I have been DMOR, but you have often been the catalyst & I now hold a fair bit...

Hi BigBob,

I saw the article in print (NBR), so I'm sorry I don't have a web link. It was written by Hugh de Lacy and is on page 21 of today's issue.

The article in 'general terms' covered the announcement released last week with regards to the aeromagentic survey and drilling with the additional comments as above.

It also quoted that Director Peter Atkinson said it was too early to tell which tenement would be the first into production along with mentioning that HGD was pursuing other processing options for the Talisman ore.

IMO it's good to hear about the progress being made and lets hope our investment is getting closer to that 'pay day' we have patiently been waiting for.:)

... thanks for the 'feedback' .. I've been encouraged that our decision to purchase HGD/HTM shares will be justified in the medium to long term.

Cheers
BP:)

PS: Hi Oiler, I'm sure we will have the 'last laugh' and we will be having a few drinks to celebrate too!

[Woody51]

Peter Strachan, in the latest edition of Stockanalysis, has some interesting observations about Cobalt, and especially its use in batteries.

He notes over the past 20 months, the price of cobalt has risen from US$15 to US$50/lb and is currently trading at around US$46/ lb. He says developments in battery technology are likely to continue to include cobalt to some extent and that the betting is strong that cobalt will continue to play a major part in power storage and since supply is limited, the cobalt price is likely to remain above US$30/lb. According to Peter, most lithium-ion batteries for portable applications are cobalt-based and one of the main advantages of the cobalt-based battery is its high energy density. Long run-time makes this chemistry attractive for cell phones, laptops and cameras.

In relation to the strong Cobalt price, The Australian reported last December "that among Heritage's properties is a 33 per cent interest in Thackaringa, which lies 25km south of Silver City. It has been drilled extensively over the years and the new float is based on the expectation that there is 30 million pounds of cobalt there - that's about $1.5 billion worth at today's prices.

The other 66 per cent is held by a company called So Co, which is owned by well-known merchant banker Geoff Hill, now Hong Kong-based but also Heritage Gold's chairman. Both parties are vending their shares of Thackaringa into the float. Broken Hill Cobalt is now finalising a letter of intent with a Chinese smelter which would take all the concentrate, with credits for rutile and feldspar by-products. The IPO will be in the $5 million to $7 million region, and Heritage Gold shareholders will receive a priority allocation."

Cobalt is HOT and unless the Thackaringa stuff is is all just hogwash, you'd hope they'd get on with it pronto. Makes no sense to me.

[Jess9]

I can't wait to read through IPO material when they do decide to float. The projected financials would make interesting reading, especially to understand in what time frame the share value would appreciate (against what schedule of work, at what cost etc). At a very basic premise, just take 10% of in ground value and split through the various holdings. That shows me the of balance sheet value to HGD could be quite nice, one day ; )

[Jess9]

An IPO would also create a ready market for HGD to sell off a few of its BHCL shares - were it to need a little working capital in 2009/10. Just like an ATM - if BHCL is a goer by then!

[zacman]

I would imagine that HGD may soon start to become hungry for funds. $2.6 mil at end of may does not sound like a lot to me. They will thus be keen to have a high conversion of the Sept options. That is only going to happen if the shareprice is north of 10 cents.

The share price needs more than promises and "scoping studies" to climb that far in that timeframe. Thus the extraction from Talisman becomes vital.

I would expect a number of "developments " over the next 2 months to get that price moving.

zacman

[Jess9]

be interesting to see, I agree. As u say "real" and significant developement needs to be announced, and this of course just doesn't happen - it is the result of alot of ground work up to that point. We'll have to wait and see what emerges from what has been described as in progress in the annual report. Several here have expressed that the words are sounding like what we need, but have reserved final judgement till something is laid out on the table!

[BAPP]

I would imagine that HGD may soon start to become hungry for funds. $2.6 mil at end of may does not sound like a lot to me. They will thus be keen to have a high conversion of the Sept options. That is only going to happen if the shareprice is north of 10 cents.

The share price needs more than promises and "scoping studies" to climb that far in that timeframe. Thus the extraction from Talisman becomes vital.

I would expect a number of "developments " over the next 2 months to get that price moving.

zacman

Hi zacman,

I totally agree..

and I'm sure the management would be working towards a good 'take up' on the options so they can secure funds to progress mining the Talisman and continue drilling programmes at Waihi North.

IMO investors would take a very 'negative' view to HGD 'missing' this opportunity, especially after the warrants debacle last year. (investors and shareholders have long memories!)

.. I would suspect also that this may be one reason Newmont has not agreed terms to process and treat the ore extracted from Talisman. (waiting patiently in the background..IMO)

So lets hope Trent and the HGD management team are 'on top of their game'! Always thought the next 6 months would be an important period.

Cheers
BP:)

Disc: still accumulating!

[Oiler]

Hi zacman,

I totally agree..

and I'm sure the management would be working towards a good 'take up' on the options so they can secure funds to progress mining the Talisman and continue drilling programmes at Waihi North.

IMO investors would take a very 'negative' view to HGD 'missing' this opportunity, especially after the warrants debacle last year. (investors and shareholders have long memories!)

.. I would suspect also that this may be one reason Newmont has not agreed terms to process and treat the ore extracted from Talisman. (waiting patiently in the background..IMO)

So lets hope Trent and the HGD management team are 'on top of their game'! Always thought the next 6 months would be an important period.

Cheers
BP:)

Disc: still accumulating!

I am with you on this one BAP. I am sure our management team know what they have to do to get us and themselves in the money. :D

Trent has his "options on the line" so I have no doubt he will be working to see us all in the money.

Oiler

Disc. still buying, watch out BAP :eek:

[BAPP]

I am with you on this one BAP. I am sure our management team know what they have to do to get us and themselves in the money. :D

Trent has his "options on the line" so I have no doubt he will be working to see us all in the money.

Oiler

Disc. still buying, watch out BAP :eek:

Hi Oiler,

Good on ya! Maybe we could make a takeover bid!:D:D:D

... but if people want to keep selling at the current price, I'll keep buying while I have the funds ... for me it's a no brainer ... but then again I've never been 'adverse' to taking a calculated risk or too!;)

I'm confident Trent will be working hard to make things happen to create shareholder wealth and IMO he has done a lot of the ground work already.

Cheers
BP:)

[STRAT]

Could you two fellas stop buying up for a couple of days. I want to get a small parcel under 3.5c:D

[Woody51]

BAP, you must be down to the milk money mate.

[BAPP]

BAP, you must be down to the milk money mate.

Hi Woody51,

Yep, lucky my son is only charging me 10% interest on his pocket money.:D:D:D
... however the main problem will having to sell shares for some gas to get to work.. hmm....I'll help the environment by walking!:)

Just to change the subject slightly... isn't it strange how we complain about the price of petrol in NZ, yet milk is more expensive.(hmm):(

Back to HGD... looking forward to a change in fortunes!:)

Cheers
BP:)

[POSSUM THE CAT]

Bap I can buy 4 litres of milk for $5.00 where can I buy 4 litres of petrol for $5.00 we all would like to know the source or is a local teenager siphoning it out of local cars and selling it to you?

[BAPP]

Bap I can buy 4 litres of milk for $5.00 where can I buy 4 litres of petrol for $5.00 we all would like to know the source or is a local teenager siphoning it out of local cars and selling it to you?

Hi POSSUM THE CAT,

Buggar! Not only did I get get 'ripped off' with the petrol price but I paid too much for the milk also.;)

I suppose there is plenty of variables to consider, but in this particular instance it cost me $4.60 for 2 litres of milk and I was charged $2.26 per litre for the gas.

My point is that I live in the heart of dairy country with a dairy factory just down the road and with several dairy farms within a 5km radius.... the petrol well it probably starts from beneath some ocean bed or desert half a world away, is drilled for and transported to a refinery then processed refined and transported to various destination in the world etc....

Anyway back to HGD.. I hope too see some improvement in the share price soon so I can pay for the petrol and milk;)

Got the remainder of my quota today.. :D:D:D.. (all yours Strat)

Cheers
BP:)

[tim23]

Why do people buy on the NZX when they buy for discount on the ASX, makes no sense to me?

[Oiler]

Why do people buy on the NZX when they buy for discount on the ASX, makes no sense to me?

Tim
Why do people buy on the NZX :confused: Good question........ I dont know.

I am buying on both markets at the moment and I buy where the best value is. :D

Oiler

[tim23]

Well done because eventually if the value (if there is some) will level out and those buying on the ASX are the winners at the moment.

[tobo]

You pay 5% FIF tax on gains on (small) Aus shares.
While that is negligible on modest gains, a multi-bagger would mean it does actually cost5%.
Mind you difference between HGD and HTM sometimes is over 5%.

Tobo
HGD
No HTM, but considering it

[Jess9]

O/S market sentiment now. Need I say more?

Others on this board have identified that up trending commodity stocks are the golden ticket in "a bear". I think we have one which could be a best performer in HGD (for all the reasons discussed above). However, all stocks including great ones will take any battering from any negative sentiment flowing in - offshore. Keep a weather eye open.

[brettdale]

Im not ready to sell my very small holding yet.

[STRAT]

Hi POSSUM THE CAT,

Buggar! Not only did I get get 'ripped off' with the petrol price but I paid too much for the milk also.;)

I suppose there is plenty of variables to consider, but in this particular instance it cost me $4.60 for 2 litres of milk and I was charged $2.26 per litre for the gas.

My point is that I live in the heart of dairy country with a dairy factory just down the road and with several dairy farms within a 5km radius.... the petrol well it probably starts from beneath some ocean bed or desert half a world away, is drilled for and transported to a refinery then processed refined and transported to various destination in the world etc....

Anyway back to HGD.. I hope too see some improvement in the share price soon so I can pay for the petrol and milk;)

Got the remainder of my quota today.. :D:D:D.. (all yours Strat)

Cheers
BP:)Thanks BAP, My cheeky bid is still up.

About milk / gas.
The thing is I go a lot further on a gallon of milk than my car does on a gallon of gas and with the amount of coffee I drink Im probably a thirsty V8 compared to other humans :D

[Jess9]

Gold looking strong again - likely test 1K mark again soon. Especially on further USD weakness. Great for coy's with existing in ground resource (and likelyhood of adding more soon ; ). Medium term growth in goldies looks good.

[BAPP]

Thanks BAP, My cheeky bid is still up.
About milk / gas.
The thing is I go a lot further on a gallon of milk than my car does on a gallon of gas and with the amount of coffee I drink Im probably a thirsty V8 compared to other humans :D

Hi STRAT,
What sort of mileage have you done?:D:D:D
I don't run very well on milk, but like you coffee seems to 'do the trick'. ;)

I note that in a recent report by WG it seems to imply that some gold producers and explorers are undervalued and that the company's to watch are those that are in the transition from explorer to producer and with established resources.

HGD seems to be 'almost' in that category IMO... lets hope they can take the development of Talisman and Waihi a step further in the next few months.:)

Cheers
BP:)

PS: as always DYOR!

[ScrappyO]

Hi Woody,

Looking at the changes between 9 June and 30 June 2008 I see that number 2 (per the 9 June List) - ML/Fortis has dropped its holding from 5.10 to 4.98% or by 350K (wonder if someone just over stepped the mark by accident?)

There is also a new top twenty holder at number 15 holding 0.98% (personal name - not a coy won't therefore post).

Be very interesting to see (post 30/6) if the recent seller or sellers at between 2.2 and 2.8c AUS - have now left the building. Without that pressure, the HTM/ASX price should spring back a little - even on no news ; )

New shareholding info dated 17 july out.
http://www.heritagegold.co.nz/irShareholding.html
1/4 out soon....Hoping August will be a good one. Need those options excerised also.

[croesus]

Cobalt. Can anybody recommend some AU stocks...

Re Waihi....should we be getting some more drill results shortly. ???
Regards Croesus.

[BAPP]

Cobalt. Can anybody recommend some AU stocks...

Re Waihi....should we be getting some more drill results shortly. ???
Regards Croesus.

Hi Croesus,

Quarterly report should be out today or tomorrow, so hopefully there is some good news based around positive drilling at Waihi North and progress at Talisman. I wonder how the 'wet' weather is affecting progress?

With regards to cobalt producers my understanding is that most (if not all) of the cobalt produced out of Australia is as a 'by product' from copper-nickel mining.

This link should help: http://www.goldsheetlinks.com/cobalt.htm

and Havilah Resources which is close to BHCL may be worth a look at: http://www.havilah-resources.com.au/mutooroo.html

Cheers
BP:)

PS: also note that AGM is on Sept 26

[croesus]

Thanks BAP.

Note drilling results just out.

[BigBob]

Company Announcements

Heritage Gold NZ Limited - Announcements


HGD
30/07/2008
MINE

REL: 1448 HRS Heritage Gold NZ Limited

MINE: HGD: Heritage Gold Reports Preliminary Drilling Results at Rahu

29 June 2008

Limited Company Relations
New Zealand Stock Exchange
Level 2, NZX Centre
11 Cable Street
WELLINGTON

PAGES: 4

FOR PUBLIC RELEASE

Heritage Gold Reports Preliminary Drilling Results at Rahu

Heritage Gold has drilled two diamond core holes (for a total of 695.3
metres) on their Rahu tenement that lies north of the Company's Talisman
mine, at Karangahake.

Figure 1: Location Map Showing Heritage's Waihi Tenements

These diamond drill holes were positioned to drill test deeper targets
beneath holes drilled in 2007 that had shown encouraging gold results in high
level hydrothermal breccias.

Figure 2: Rahu Ridge (Foreground) Looking South
To Mt Karangahake (Background)

The first hole, RHDD-10, was located west of Rahu Ridge (shown in Figure 2
above) and designed to test for mineralization in a quartz vein feeder system
that is believed to occur at depth. Although encountering several weakly
anomalous zones, the hole passed through a major fault zone and did not
intersect the volcanic rock that would normally host mineralized quartz
veins.

The second hole, RHDD-11, was sited about 550 metres to the south of the
first, closer to the White Rocks area of Rahu Ridge where Heritage had
previously found anomalous gold values near the surface and indications of
higher gold grade at depth. The hole was designed to test about 70m below the
depth reached by the previous diamond drill hole in the area, RHDD-04.

This hole intersected 66 metres of consistently anomalous gold at an average
grade of 0.49 g/t gold, which is at the higher end of the values encountered
in RHDD-04.

These results indicate increasing grade within favourable host rocks with
depth, which supports Heritage's model for a deeper feeder zone of economic
mineralization.

However, owing to the extensive faulting at the location of the first hole
and failure to intersect potentially economic gold values, coupled with the
lower than expected values in the second hole, the Company has chosen to
temporarily suspend further drilling, pending an evaluation of the structural
geology of the area by an external specialist.

The Company is also critically reviewing and refining its mineralization
model.

TECHNICAL DETAILS

RHDD-10
This first hole was located west of Rahu Ridge and positioned to test the
depth extensions of gold mineralised breccias intersected in holes RHDD-02,
RHDD-03 and RHDD-08 in 2007. Refer to the previous results for these holes
shown in Table 1 below.

It is thought that these breccias will develop into gold mineralised feeder
veins to the breccias at depth.

Hole NZMG
Coords Bearing
(True) Dip Depth
(metre) Downhole Intersections
RHDD-02 2751837m E
6417667m N
115m RL 106 -60 127.55 36 -60m = 24m @ 0.93 g/t Au, 13.9 g/t Ag
incl.
37 - 45m = 8m @ 1.71 g/t Au, 29 g/t Ag;
37 - 39m = 2m @4.15 g/t Au, 33.5 g/t Ag;
52 - 53m = 1m @ 1.53 g/t Au, 2.4 g/t Ag;
and
83 - 85m = 2m @ 0.64 g/t Au
RHDD-03 2751730m E
6417480m N
163.0m RL 110 -45 119.9 32 - 89m = 57m @ 0.39 g/t Au, 3.3 g/t
Ag
incl.
33 -35m = 2m @ 2.05 g/t Au, 5.8 g/t Ag;
33 - 44m = 11m @ 0.88 g/t Au, 5.7 g/t Ag;
83 - 88m = 5m @ 0.72 g/t Au, 3.4 g/t Ag
RHDD-04 2751678m E
6417109m N
163.0m RL 110 -72 112.8 54 -84m = 30m @ 0.19 g/t Au, 1.3 g/t
Ag
incl.
66 - 68m = 2m @ 0.29 g/t Au, 5.5 g/t Ag;
79 - 84m = 5m @ 0.32 g/t Au, 1.3 g/t Ag
RHDD-08 2752130m E
6417977m N
155.0m RL 110 -45 310.0 59 - 93m =34m @ 0.45 g/t Au, 7.0 g/t
Ag
incl.
82 -91m = 9m @ 0.78 g/t Au, 4.6 g/t Ag;
86 - 88m = 2m @ 1.34 g/t Au, 6.6 g/t Ag;
103 - 106m = 3m @1.14 g/t Au

Table 1: Previous Proximal Drillhole Significant Intersections

Owing to logistical factors the hole was positioned approximately 100m south
of hole RHDDH-02 which had previously shown the strongest gold geochemistry,
(24m at 0.93 g/t Au and 13.9 g/t Ag; including: 8m at 1.71g/t Au and 29 g/t
Ag, and 2.0m at 4.15 g/t Au and 33.5 g/t Ag)

The hole targeted a vertical depth of approximately 200m beneath the gold
mineralization intersected in the earlier holes. It passed through
approximately 100m of unaltered andesite before intersecting a 12m wide fault
zone. It then transected a thick sequence of tuffaceous lake beds and
volcanic agglomerates that showed variable intensity of hydrothermal
alteration, brecciation and sulphide mineralization. Several zones of
anomalous gold mineralization were encountered.

The Company is reviewing the results of this hole as it appears that the
andesite rock targeted as the best host for mineralised quartz veins in the
Waihi Gold District and which normally lies beneath the lake bed sediments at
Rahu, has been displaced by faulting.

RHDD-11

This second hole, sited about 550m to the south of RHDD-10, was designed to
intersect the target about 170m below surface. From 65.7m the hole passed
through a 116.5m sequence of quartz veining, hydrothermal brecciation and
silicification.

This zone was generally gold anomalous and, from 99m down-hole, included 66m
that averaged 0.49 g/t Au. Within this zone there were several intervals of
higher gold values ranging from 0.71 g/t to 1.90 g/t Au as detailed in Table
2. The average gold values in this hole were at the higher end of the values
from RHDD-04 that tested the same zone approximately 70m above.

The key results of RHDD-10 and RHDD-11 are shown in Table 2 below.

Hole NZMG
Coords Bearing
(True) Dip Depth
(metre) Downhole Intersections
RHDD-10 2751573.49m E
6417644.93m N
115.58m RL
110 -62 449.5 218 -220m =2.0m @ 0.28g/t Au
251 - 256m = 5m @ 0.17g/t Au, 1.5g/t Ag
273-277.5m = 4.5m @0.19g/t Au, 2.1g/t Ag

RHDD-11 2751554.17m E
6417084.11m N
130.57m RL 90 -60 245.8 99-165 =66m @ 0.49g/t Au, 2.66g/t Ag
incl.
110-111 = 1.0m @ 1.9g/tAu, 2.0g/t Ag
114-121 = 7m @ 0.72g/t Au, 2.4g/t Ag
131-134 = 3m @ 0.85g/t Au, 3.6g/t Ag
137-139 = 2m @ 1.55g/t Au, 5.2g/t Ag
143-147.1= 4.1m @ 0.73g/t Au, 3.65g/t Ag
150-152 = 2m @ 0.81g/t Au, 2.2g/t Ag
159-161 = 2m @ 0.97g/t Au, 2.2g/t Ag

Table 2: Significant Drill Intersections on Current Drill Holes

Notes on Drilling and Sampling:
1. HQ triple tube sized diamond drill core used for the holes being
reported.
2. All drill core was geologically logged, and cut by diamond saw. Half
core samples, each approximately 1 metre in length, or as defined by the
geology within highly mineralized sections, were submitted to SGS
Laboratories in Waihi for analysis. Zones with no visible mineralisation were
submitted as 2 metre samples.
4. Gold was analysed by fire assay, using a 50g charge, and silver by
atomic absorption spectrophotometry (AAS).
5. A system of standards, duplicate samples and check assays was used to
confirm tenor and integrity of assay database.

DISCLOSURE: The information in this report that relates to exploration
results is based on information compiled Mr Murray Stevens. Mr Stevens is an
independent consulting geologist who is a corporate member of the AusIMM. Mr
Stevens has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2004
Edition of the "Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves". Mr Stevens consents to the inclusion in
this report of the matters based on his information in the form and context
in which it appears.

About Heritage Gold

Heritage Gold (NZ) Limited is a leading New Zealand, dual listed (NZSX: HGD,
ASX: HTM) minerals exploration company that has a portfolio of high quality
gold
, base metal and uranium tenements in Australia and New Zealand.

Heritage gold tenements in the southern Coromandel region of New Zealand
include the historic Talisman Mine which has produced over 1 million oz of
gold and 3 million oz of silver during its peak mining period.

Heritage owns 33 percent of Broken Hill Cobalt Ltd, a company that is looking
to develop a cobalt project at Thackaringa, New South Wales.

The company also holds exploration licences for uranium in Australia's
Northern Territory, historically a major uranium producing area and currently
the focus of extensive exploration.

To learn more about our company please explore our website at
www.heritagegold.co.nz

[STRAT]

Hi STRAT,
What sort of mileage have you done?:D:D:D
I don't run very well on milk, but like you coffee seems to 'do the trick'. ;)


Cheers
BP:)

PS: as always DYOR!Im in my 40's but very high milage:eek::D

Shame the drill results today werent more encouraging.

[kanejones]

Have held HGD for around a year now and have enjoyed followed this discussion.
Does anybody know if there any further drilling results expected? My hopes are pinned on Talisman. Trying to stay positive!

Kane Jones

[ScrappyO]

I think we had an idea from the the annual report that the results weren't going to be great.

" Upon Completion of the second hole the company decided to postpone the programme until they have advanced their knowledge of the structural geology of the area. "
(quoted annual report)

No surprises really for the faithful. Better Rahu results would have been nice thou.

What we really want to hear are the results from Waihi North, Talisman, BHCL listing and the Scoping study.

I doubt we will get any surprises from the Quarterly .

[BAPP]

Have held HGD for around a year now and have enjoyed followed this discussion.
Does anybody know if there any further drilling results expected? My hopes are pinned on Talisman. Trying to stay positive!

Kane Jones

Hi KaneJones,

IMO there's no need to worry about the Rahu drill results at this point in time. This outcome was initially released a month or so back and was indicated in the Annual Report. (see page 5 under Karangahake)

While these results do not seem overly promising I believe the main consideration by HGD is to conserve and direct funds towards drilling at Waihi North permit, which must surely take priority after the recent survey results. There is also the Talisman project to consider.

Again from page 5 of the Annual Report, it is highlighted that diamond drilling at Waihi North was planned for June. I would quess these results might be known towards the end of August. Maybe the quarterly report tomorrow will provide a few more hints to the time frames.

IMO a good set of drill results at Waihi North, showing significant gold intersections along with the study of the Talisman mine showing economic viability will provide a change of 'fortunes' for HGD shareholders.

Obviously time will tell ... but that time could realistically be in the next 2-3 months if these results are positive.

Again I hope the quarterly report will provide us with a lot more information regarding time frames.

Cheers
BP:)

[BAPP]

What we really want to hear are the results from Waihi North, Talisman, BHCL listing and the Scoping study.


Hi ScrappyO,

You're onto it!:D

Cheers
BP::)

[Woody51]

Weird release today. 2 holes two flops. What's the point. Why even bother.

[Jess9]

Maybe to confirm earlier announcement - post drilling and hole analysis? Also to meet x/change requirements? With this out the quarterly can discuss this further, if needed with no disclosure concerns. Shame about this drill set though. I was hoping for some good grades right now also that the "treasure map" was getting accurate. Sounds like were not quite there yet, bit more time yet needed. Market not very happy, especially with the Bear in the house. For that reason alone a smacking is a possibility right now. That said, I still see good value in HGD in the medium term. Re-iterating my previous post, timing is rather critical ATM. With overall market sentiment being what it is this must be kept in mind. Unfair, but reality - ay least in the present moment.

[BAPP]

Cobalt. Can anybody recommend some AU stocks...
Regards Croesus.

Hi Croesus,

Here's another company that's moving towards nickel-cobalt production..
http://www.daguilar.com.au/AusNiCo.html

ASX code is DGR.
Announcement regarding cobalt: http://www.asx.com.au/asxpdf/20080730/pdf/31bf4vwrr4lsqg.pdf

Cheers
BP:)

[whatsup]

The real reality is that HGD has to persevere its limited cash reserves as there is very little of it getting any more cash in this climate from its hard beaten share holders and so we will not see any in depth searching going on for some time to come, HGD doesnt have a very strong hand now, the question should be asked is how much cash does it have ATM.

[BAPP]

I quess the share price today tells a story ... but at least there is money in the bank to keep Talisman and Waihi North progressing.

Would like to know what is happening with the BHCL IPO..

Gotta keep smiling...:)

Cheers
BP:)


FOR PUBLIC RELEASE

Quarterly Activities Report to 30 June 2008

Heritage Gold is pleased to present this quarterly report for the period
ended 30 June 2008.

Highlights:

- Scoping Study for Talisman Mine commenced
- Results of geophysical surveys at Waihi reveal encouraging gold
targets
- Diamond core drilling of two holes completed at Rahu
- Diamond core drilling commenced at Waihi North

SCOPING STUDY ON TALISMAN PROJECT

On 18 March, Heritage announced its intention to undertake a Scoping Study as
part of the process of evaluating the Talisman mine asset and commencing to
move it forward as a development project. The company has engaged the
services of a number of specialist consultants to prepare the Scoping Study.
Gemmell Mining Engineers Pty Ltd., of Australia, will provide a critical
appraisal. It is expected that the study will be available by the end of
August.

WAIHI DISTRICT GOLD EXPLORATION

Waihi Gold Tenements (Heritage 100%)

The high-resolution aeromagnetic survey of the Waitete, Waihi North and
Golden Valley tenements undertaken in mid February has revealed several
significant de-magnetized zones or anomalies that are often associated with
areas of hydrothermal alteration and gold deposition.

The main magnetic anomaly associated with gold mineralisation at Newmont's
Martha mine extends north into the company's Waihi North tenement.

In addition, a major, 18 sq. km. demagnetized zone was revealed in the
southern part of the Golden Valley permit, immediately east of Newmont's
Favona underground mine. This anomaly is interpreted as hydrothermal
alteration beneath younger cover rocks and has a footprint that is similar in
size to the hydrothermal alteration zone that hosts the Martha and Favona
deposits.

In the area of Waihi North immediately adjacent to the Martha open pit
(designated as 'Martha North') there was good correlation between the results
of the ground-based electrical resistivity, soil geochemical and ground
magnetic surveys.

The combined survey results have highlighted a series of north-easterly
structural trends that are interpreted as being potentially mineralized
structures. Such structural lineaments in Martha North show a connection with
the Mataura magnetic anomaly to the north and the Martha Vein System to the
south.

Diamond core drilling of selected targets at Martha North, commenced on 16
June. Drilling of the first hole is well advanced and the location of a
second drill hole has been determined.

The company has lodged an application for extension of the Waihi North
permit.

For reference, the location of Heritage tenements around Waihi, is shown in
Figure 1 below.

Figure 1: Waihi and Karangahake Tenement Locations

Karangahake Gold Tenements (Heritage 100%)

Rahu Permit

Diamond core drilling in Rahu commenced in March and two holes have been
drilled, targetting one of three large geophysical anomalies that underlie
the Rahu Ridge.

The first hole, RHDD-10, was located west of Rahu Ridge and positioned to
test the extensions of gold mineralised breccias intersected in previous
holes. Although encountering several weakly anomalous zones, the hole passed
through a major fault zone and did not intersect any potentially economic,
mineralized quartz veins. The hole reached a depth of approximately 200
metres below the previous holes in the area.

The second hole, RHDD-11, was sited about 550 metres to the south of the
first hole and intersected 66 metres of consistently anomalous gold at an
average grade of 0.49 g/t, which is at the higher end of the values
encountered in hole RHDD-04, previously drilled in the area. This hole
targeted a depth of 70 metres beneath RHDD-04.

Figure 2: Diamond Drill Rig on Second Hole at Rahu (RHDD#11)

Both holes encountered zones of significant faulting. As a result, management
decided to postpone further drilling until they have advanced their knowledge
of the structural geology of the area.

The Company is also critically reviewing and refining its mineralization
model.

DUNMARRA BASIN URANIUM

Preparation for reconnaissance open-hole drilling of the Beetaloo exploration
licence was undertaken during May and June. A drilling contractor has been
selected and a specialist uranium field geologist engaged to supervise the
drilling. An initial four holes are planned to be drilled in July to provide
a preliminary assessment regarding the potential of the ground. These holes
will be drilled to a depth of about 100m to access potential uraniferous
zones beneath the water table.

Exploration management and requisite safety plans have been submitted to the
Department of Primary Industry of the Northern Territory and an advance
project team is currently on the ground.

BROKEN HILL COBALT LIMITED (Heritage 33%)

Broken Hill Cobalt Limited's exploration licence over the prospective area at
Thackaringa has been renewed for a further two years. Further sampling and
geological mapping of base metal gossans found by earlier exploration work is
planned. This will focus test drilling that is planned for the September
quarter.

Most of the gossans discovered to date have not been reported previously and
suggest excellent potential for Broken Hill style base metal deposits, with
some gold and tungsten.

CORPORATE AND FINANCE

At 30 June Heritage had a strong cash at bank position of $2,501,000.

Heritage continues to prudently manage its cash resources and exploration
expenditures as the company seeks to advance the value of its assets.

A Notice of Annual General Meeting will be circulated to shareholders by
early August. The company's Annual General Meeting is planned for the last
week in September.

[Oiler]

I quess the share price today tells a story ... but at least there is money in the bank to keep Talisman and Waihi North progressing.

Would like to know what is happening with the BHCL IPO..

Gotta keep smiling...:)

Cheers
BP:)


BP .. I am with you and agree management made the right decision. They need to be conservative with there cash management decisions and have taken the right decision to keep Talisman and Waihi North going........ that they have done :D:D

I just love these buying opportunties ;)

Time will tell but hey I am in for the long haul ........

Oiler

[Woody51]

The cobalt IPO has disappeared right off the map. No options saver there. Think the whole thing was make believe.

[ScrappyO]

The cobalt IPO has disappeared right off the map. No options saver there. Think the whole thing was make believe.

Yes it does seem to come and go. Also saying they are going to drill at Thackaringa seems to come and go. :confused:

I understand timing is not great at the moment but if HGD itself can get funding i'm sure BHCL shouldn't have any problems.

It's time to roll it out........................

[BAPP]

Hope BHCL/HGD don't take too much longer to get this prospect underway!

http://www.formcap.com/s/CobaltNews.asp

Cobalt Typifies The Bull Market
Publisher: minesite
Author: Rob Davies
Cobalt is one of those metals that everyone is familiar with in a vague sort of way. Most are dimly aware that is probably used in high technology applications, but would struggle to name a primary cobalt mine or producer. And as for so many speciality metals, the cobalt market is actually quite a small market. Metals consultancy CRU estimates that the total market in 2007 was for only 60,000 tonnes.

But that demand is surprisingly widespread. One third of consumption goes into what is deemed environmental applications, such as solar panels and fuel cells. A bit more, about 36 per cent, is used for industrial applications such as drill bits and ball bearings. Surprisingly turbine blades and jet engines only accounts for 22 per cent of cobalt use. The remaining nine per cent is consumed in the electronics industry in things such as hard drives, memory chips and cell phones. That is a pretty widespread range of uses in what can loosely be called technological applications. Beyond that, cobalt is being tested for use in products such as lithium ion batteries and hydrogen storage systems. If the world is going to continue increasing its use of technology then it is hard not to believe that cobalt has a big future ahead of it. That's why consumption of this metal is expected to rise to 75,000 tonnes by 2010 and to 100,000 tonnes by 2012. In mining terms those dates are not very far away.

So who will supply this metal? Formation Capital is building an integrated mine and processing facility in Idaho with a total contained cobalt resource of 13 million pounds or nearly 6,000 tonnes. Formation clearly hopes to be part of the equation. Right now supply comes from a variety of sources, mostly as by-product of nickel and copper mining, though there is one primary mine in Morocco and one in the US. Much will come out of the Congolese copperbelt, mostly as by-product.

But the Cobalt Development Institute, a not-for-profit industry body designed to promote cobalt, estimates that these various sources generated about 53,000 tonnes of refined cobalt in 2007. That leaves a pretty big gap between what is currently produced and what will be needed in two years time. Not only will be the demand for cobalt be rising sharply, but the demand for the highest level of purity, 99.999%, is forecast to rise even more rapidly. Only about 5,500 tonnes of out of total cobalt metal production of about 23,000 tonnes is suitable for critical superalloy applications. It's estimated that the industry needs to provide another 1,000 tonnes a year of high purity cobalt to match demand.

Only two companies today provide this high quality material, Vale and Xstrata, the new owners of the two Canadian nickel miners Inco and LionOre. More supply will be provided as by-products from new mines in places like the Democratic Republic of Congo. But there is substantial risk to these, especially in terms of timing. Although US$40 a pound might look expensive now, if these projections are right, then US$40 could look like a bargain in a few years time. There may be some speculation in some precious and base metals, but cobalt is so specialised that it would be difficult for traders to build up a large position in this metal. This fundamental situation suggests that, despite what some pundits are saying, the end of the commodity boom for this metal is not in sight just yet.

-END-

[Jess9]

...and on that basis, I don't mind any delay as the reward will be even greater.

As the cap markets have thrown a spanner, oh hell the whole tool box into the works -this little one may need another 12 months. Watching, but waiting.

[croesus]

Have purchased more, put them in my 2 to 3 year file......can not see anything happening till at least june 2009...............more likely june 2010

[BAPP]

Just a small point to consider... this reporting period ended June 30th.

Most of the 'pivotal' work being done started within that period and is currently still underway.

Results of the Talisman scoping study are due late August and I would suggest we would see the current drilling results from both Waihi North and Dunmarra around the same time or early September.

It had also been indicated earlier that the BHCL IPO would be reviewed in the latter half of the year, if there had been some 'stability' in the capital markets.

Remember the AGM is at the end of September.. just a day or two before the next options expire!

Cheers
BP:)

[whatsup]

Most if not all of the options are at this stage worthless so dont expect any "rabbits from hats"

[BAPP]

Most if not all of the options are at this stage worthless so dont expect any "rabbits from hats"

Hi whatsup,

Definitely no expectations regarding 'Sept' options... just pointing out that there is a 'bigger picture' underway.. and this may not have been immediately evident in the report yesterday.

IMO success at Waihi North and the Talisman will prove to be the 'turning' point for HGD.

Cheers
BP:)

[wk6332]

Most if not all of the options are at this stage worthless so dont expect any "rabbits from hats"

Hi whatsup, they are not worthless yet just sold 300T HGDOB@ 1c, and brought 100t shares @ 3c, I thought at 3 to 1 it would be best to play safe and buy someting with a bit longer life.
still hold a few OB and a truck full OA and slowly getting bulding a holding in the heads.

[whatsup]

Well done wk6332, great move just goes to show that there are deals to be done out there , hope that you didnt loose too much on the oiptions.

[doon]

Hi whatsup, they are not worthless yet just sold 300T HGDOB@ 1c, and brought 100t shares @ 3c, I thought at 3 to 1 it would be best to play safe and buy someting with a bit longer life.
still hold a few OB and a truck full OA and slowly getting bulding a holding in the heads.

Well wk6332, only time will tell if selling your Nov 09 opts was a good idea? However, very pleased your purchase of HTM.ASX at 2.3 lifted my portfolio value nicely for the week on closing prices. (Presume that was your purchase?) It's only on paper of course as I'm in for a while here, but nice to see a reversal of trend :) Reckon if you could have quit your HGDOA at 1c you would have been more pleased.
Good luck to all faithful here, confident we may be in for some good news soon, maybe even before the OA opts expire and the AGM ? Fingers crossed.

[wk6332]

Well wk6332, only time will tell if selling your Nov 09 opts was a good idea? However, very pleased your purchase of HTM.ASX at 2.3 lifted my portfolio value nicely for the week on closing prices. (Presume that was your purchase?) It's only on paper of course as I'm in for a while here, but nice to see a reversal of trend :) Reckon if you could have quit your HGDOA at 1c you would have been more pleased.
Good luck to all faithful here, confident we may be in for some good news soon, maybe even before the OA opts expire and the AGM ? Fingers crossed.

Hi Doon, well I hope that it was a bad idea. I worked out that the share price would have to be in excess of about 12cAU to be worse off. So here is hoping that I did the wrong Thing, 12++ will do me.
Yes that was my buy of HTM @ 2.3au or 3nz, now just have to convert them to HGD to have my holding all in one place.
still hopefull that My HGDOA will be in the money befor they die but I would sell them all for 1c monday if I could.
I also made a 54% drop on the HGDOB for you too if you hold.

[tobo]

.......my buy of HTM @ 2.3au or 3nz, now just have to convert them to HGD to have my holding all in one place.
.........

WK, what do you mean by 'convert' them - what is your intended method?

Tobo.

[wk6332]

WK, what do you mean by 'convert' them - what is your intended method?

Tobo.

Tobo,
tack them off the aussie exchange and bring them home to the nz exchange, it just a little bit of paper work. ( so I have been told )

[POSSUM THE CAT]

Tobo & wk6332 depends on wether your shares are issuer or broker sponsored. If issuer sponsored usually very simple if broker sponsored a very hefty fee is usually involved. If broker sponsored usually cheaper to sell on ASX and buy on NZX

[doon]

Tobo,
tack them off the aussie exchange and bring them home to the nz exchange, it just a little bit of paper work. ( so I have been told )

Why bother changing them at all?

[tim23]

Arbitrage usually with this stock they are cheaper on the ASX when you do the conversion; however don't think you can do it with HTM/HGD?

[whatsup]

Up today could be a good sign coming off the recent lows!!!!!!!!!!!

[Woody51]

Just a bad dream Whatsup.

[whatsup]

sad sooooooooooooooo sad

[Jess9]

I see that alot of other small and not so small cap goldies have been taking a hell of a beating of late. HGD has been caught with the rest. Some would suggest there is a little more to come, across the board . The big black bear is still on the rampage : (

That said, when the tide does turn as it will there will certainly be bargains around for the brave.

[brettdale]

Not much being traded, why is it so slow? Things look good for a while, what is the gold price doing? I know it fell a lot the last couple of weeks.

[mibo]

Not much being traded, why is it so slow? Things look good for a while, what is the gold price doing? I know it fell a lot the last couple of weeks.

Gold has come off it's recent high and trending down at the moment although still well above what it was 12 months ago. Currently $823. The drop in oil price and the strengthening markets will be a factor. Money is starting to flow back into stocks. This could all change if McDunk is right...:o

http://www.kitco.com/LFgif/au0365nyb.gif

[BAPP]

For anyone interested ... here are some links offering some 'insight'-interesting reading (IMO) about gold and the price of gold.

http://www.theaureport.com

http://www.galmarley.com

http://www.swissamerica.com

Cheers
BP:)

[mistymountain]

What an overblown company this one has turned out to be! Hovering around 3 cents per share. Same as years ago despite all the hot air and pigs flying around this thread. Every single time someone says something good is going to happen nothing does! Talk about crying wolf...

[STRAT]

Hi STRAT,
What sort of mileage have you done?:D:D:D
I don't run very well on milk, but like you coffee seems to 'do the trick'. ;)

I note that in a recent report by WG it seems to imply that some gold producers and explorers are undervalued and that the company's to watch are those that are in the transition from explorer to producer and with established resources.

HGD seems to be 'almost' in that category IMO... lets hope they can take the development of Talisman and Waihi a step further in the next few months.:)

Cheers
BP:)

PS: as always DYOR!Hi Bap,
Still havent bought any and have pulled my bid for now. Still watching every day looking for a bottom:rolleyes:

Hi Oiler,
are you still keen on this baby? She sure does move slow

[mistymountain]

You guys have got to be joking!!

"Moving slow" must be euphemism of going inexorably backwards.

Your "bottom" (today now 2 cents something) can't get much lower!

Cheaper to go and get some more rosetinted glasses...

[Oiler]

Hi Bap,
Still havent bought any and have pulled my bid for now. Still watching every day looking for a bottom:rolleyes:

Hi Oiler,
are you still keen on this baby? She sure does move slow

STRAT
I am still keen on this baby :) You might ask "why" ........... I am not a trader.

My shares tend to be medium to long term buys and I usually back the jockey and make my decisions based on fundamentals and have mostly stuck to this philosophy.

I am hoping the AGM late Sept. will through some light on where we are going.

Oiler

Used todays dip, to mop up. Some might say.........dahhh :eek:

[BAPP]

STRAT
I am still keen on this baby :) You might ask "why" ........... I am not a trader.

My shares tend to be medium to long term buys and I usually back the jockey and make my decisions based on fundamentals and have mostly stuck to this philosophy.

I am hoping the AGM late Sept. will through some light on where we are going.

Oiler

Used todays dip, to mop up. Some might say.........dahhh :eek:



... so that would make at least two of us!

Our time will come..

Cheers
BP:)

PS: Worth reading IMO: http://www.theaureport.com/pub/na/1540

[KentBrockman]

You guys have got to be joking!!

"Moving slow" must be euphemism of going inexorably backwards.

Your "bottom" (today now 2 cents something) can't get much lower!

Cheaper to go and get some more rosetinted glasses...

LOL.

HGD is a hilarious thread on Sharetrader.

I return here every know and then just to read and have a chuckle.
I love the enthusiasm with which Jess, BAP, and others discuss every
new low as an opportunity to 'buy more' (and this for many many
months on end).

Talk about delusion....

Another favourite is when they discuss the ups and downs of the gold
price, as if that had anything to do with the fortunes of HGD. (which has
never produced anything, and by the way things are going, never will)

Very, very amusing :)

p.s.: this all is not to say that I am not deluding myself either: I am still
holding onto ADY :(

[mistymountain]

Thank goodness someone has posted something that makes cents...

[brettdale]

LOL.

HGD is a hilarious thread on Sharetrader.

I return here every know and then just to read and have a chuckle.
I love the enthusiasm with which Jess, BAP, and others discuss every
new low as an opportunity to 'buy more' (and this for many many
months on end).

Talk about delusion....

Another favourite is when they discuss the ups and downs of the gold
price, as if that had anything to do with the fortunes of HGD. (which has
never produced anything, and by the way things are going, never will)

Very, very amusing :)

p.s.: this all is not to say that I am not deluding myself either: I am still
holding onto ADY :(


Have they found anything at all?, and how long have they been around?

[BAPP]

Oh dear... How sad....Never mind

.. and good bye!:rolleyes:

[ScrappyO]

LOL.

HGD is a hilarious thread on Sharetrader.

I return here every know and then just to read and have a chuckle.
I love the enthusiasm with which Jess, BAP, and others discuss every
new low as an opportunity to 'buy more' (and this for many many
months on end).

Talk about delusion....

Another favourite is when they discuss the ups and downs of the gold
price, as if that had anything to do with the fortunes of HGD. (which has
never produced anything, and by the way things are going, never will)

Very, very amusing :)

p.s.: this all is not to say that I am not deluding myself either: I am still
holding onto ADY :(

As you said in your last sentence we all have our shares that are not performing but we still are in because we believe that things will turn around. Why bother posting on this thread when you dont hold, and give those who have contributed to this thread crap.

[croesus]

Yeah I agree with Scrappy....piss off.. become a Scoutmaster.. or join a Masonic Lodge... as a holder of HGD I am quite happy to wallow in the slough of my own investing ineptitude... but I don't need some jumped up boring little git.. who does'nt hold shares.. patronising me....

[mibo]

Yeah I agree with Scrappy....piss off.. become a Scoutmaster.. or join a Masonic Lodge... as a holder of HGD I am quite happy to wallow in the slough of my own investing ineptitude... but I don't need some jumped up boring little git.. who does'nt hold shares.. patronising me....

I agree. I have picked up a couple of parcels in the last week to add to my holding. Mining stocks around the world have been taking a beating.

Lets keep this thread informative and constructive.

Whatever the future for this share, I am happy with my decision to hold for the long term.

There is an old saying that goes 'All will be revealed in time...'

[KentBrockman]

I agree. I have picked up a couple of parcels in the last week to add to my holding. Mining stocks around the world have been taking a beating.

Lets keep this thread informative and constructive.

Whatever the future for this share, I am happy with my decision to hold for the long term.

There is an old saying that goes 'All will be revealed in time...'

No worries folks. Just thought some reality (as I see it) couldn't hurt for a change.

Keep it up.

I'll keep checking back here periodically ;)

[STRAT]

LOL.

HGD is a hilarious thread on Sharetrader.

I return here every know and then just to read and have a chuckle.
I love the enthusiasm with which Jess, BAP, and others discuss every
new low as an opportunity to 'buy more' (and this for many many
months on end).

Talk about delusion....

Another favourite is when they discuss the ups and downs of the gold
price, as if that had anything to do with the fortunes of HGD. (which has
never produced anything, and by the way things are going, never will)

Very, very amusing :)

p.s.: this all is not to say that I am not deluding myself either: I am still
holding onto ADY :(
Hi Kent,
I too have made comments about how long HGD has been around seemingly doing nout but today if I was going to throw some cash at a share, any share, I have to say HGD would be a lot closer to the top of the list than ADY.

and the ADY story, not amusing at all;)

[Jess9]

Hi STRAT. I guess we should be waiting for a confirmed uptrend on any stock in the present market - before adding to resource positions.

Goldie's seem to have been hit harder than oilers to date. Gold dropped below $800 today, another short term negative.

On a gold oz $ to market cap HGD still looks good - especially if they can double resource cheaply. There is also that elusive cobolt 1/3 share. More on this in September would be good.

[brettdale]

Gold has seem to be dropping like what seems forever, just ride it out.

[STRAT]

Hi STRAT. I guess we should be waiting for a confirmed uptrend on any stock in the present market - before adding to resource positions.

Goldie's seem to have been hit harder than oilers to date. Gold dropped below $800 today, another short term negative.

On a gold oz $ to market cap HGD still looks good - especially if they can double resource cheaply. There is also that elusive cobolt 1/3 share. More on this in September would be good.Hi Jess, Thats pretty much what I have been doing for the last month or two. The market will have more impact on the SP than the companies prospects short term IMO. Would rather pay 4 or 5c on the way up than 3c on the way down.

[brettdale]

Heck, it seems it just wont stop dropping, I thought it would have reached its low point by now.

[mistymountain]

The sinking share price of this company mirrors what gold does when you pan for it.

Given 2 cents was where it was before someone said Uranium I think the market now says this is a fair price....

[Tanger]

The company has just mailed out option conversion letters in relation to the options converting on or before 30 September. Given the price is NZ$0.10 there would have to be a significant movement in price between now and then to get anywhere near the conversion price. September will have to be full of "news" for the company to get the extra cash in.

[etrader]

Not meaning to sound negative.


But HGD have no chance of raising 20% of their option monies given that the options were set some time ago without researching the period they were set I guess .10c seemed fine back then. I guess management will have to review their cash situation with around 2.4 mill on hand they could issues shares to a major company in exchance for a farm in agreement, we've all bantered around the j.v situation which we talked of nearly 14 months ago but nothing has happened.

Looks like .02c is going to happen before .04c comes.

If it goes sub .01c then i'm back in the buying mode.

DYOR

[mistymountain]

Just like a mine shaft this stock heads down. Now approaching the flat 2 cent.

But will there be light at the end of this tunnel??

Did those optimistic posts failed to recognise reality? Or are we seeing an investing public thowing away a fantastic opportunity...

Time will tell....


Last time it went this low was late 2006 before the mighty U word caused leap from 2 c to 12 c.

I sense the current market needs tangible results not hot air to bring this stock back to double digit levels.

[brettdale]

Any announcement coming up?

[Jess9]

Hi BAP. Could be wrong, but I get the feeling there is a bit of quiet accumulation going on since about March, trend still however looks to be heading South through. Keeping a close watch for any signals of change in this.

If the 1st tier goldies perk-up from now, the juniors will follow - a wave or two later. Gold staying over $800 will surely help that.

[BAPP]

Hi BAP. Could be wrong, but I get the feeling there is a bit of quiet accumulation going on since about March, trend still however looks to be heading South through. Keeping a close watch for any signals of change in this.
If the 1st tier goldies perk-up from now, the juniors will follow - a wave or two later. Gold staying over $800 will surely help that.

Hi Jess9,

If I was in Newmont's position I would be 'covering my Waihi base' by indirectly accumulating HGD shares at the current low prices. (They could acquire a major stake for less than 3-6 months of their exploration budget at the moment:rolleyes:)

IMO it's a simple 'supply and demand' scenario.

Overall global gold production is on the decline due to the lack of existing, established gold resource while at the same time the demand for gold is increasing. At some stage something has to give and the price of gold will take off again, this could take 3 months or 3 years- time will tell.

When it does happens (fairly soon 3-6 months IMO) mid-top tier gold miners will start showing greater interest in the 'juniors' that have JORC compliant reserves... and in Australiasia there are only a handful of 'juniors' in this position, HGD being one of them.

At this point in time many investors see junior explorers as far too risky/speculative, however the key to any 'junior' achieving success is JORC compliant reserves and establishing the economic viability for mining those reserves. This information when positive reduces the investors risk and attracts other 'players".

With the Talisman Scoping study and Waihi North drill results expected soon, I suggest we will have a 'clearer' indication of HGD 'position' in the upcoming month.:)

You may find the following link interesting.
http://www.theaureport.com/cs/user/print/na/1570

Cheers
BP:)

PS: and to all the 'knockers' of this thread who read this.. if you decide to post something, at least show you've actually done some homework first, rather than criticism
without any basis. Most contributors to this thread have been sincere enough to provide some insight into their research, they don't deserve ridicule from people who can't
substantiate their comments or thought process.

[Year of the Tiger]

PS: and to all the 'knockers' of this thread who read this.. if you decide to post something, at least show you've actually done some homework first, rather than criticism
without any basis. Most contributors to this thread have been sincere enough to provide some insight into their research, they don't deserve ridicule from people who can't
substantiate their comments or thought process.

Thanks for this little ps BAP.
I very much enjoy the posts on this thread from you, Oiler, Jess etc etc. I feel I know very little to be of any value to other posters as far a information is concerned, but I do feel I get good value from those who do have knowledge and who have done so much more research than I could ever hope to do.
I have held for some time and still do hold a small amount of shares in HGD and do get fed up with the knockers who come on here and like to take potshots at genuine posters.
So from me, just a thank you for continuing to support the thread.

YOTT

[Sumnerned]

My situation and opinions are identical to YOTT's. Indeed, without you guys I'd have probably lost heart.

[brettdale]

Hi Jess9,

If I was in Newmont's position I would be 'covering my Waihi base' by indirectly accumulating HGD shares at the current low prices. (They could acquire a major stake for less than 3-6 months of their exploration budget at the moment:rolleyes:)

IMO it's a simple 'supply and demand' scenario.

Overall global gold production is on the decline due to the lack of existing, established gold resource while at the same time the demand for gold is increasing. At some stage something has to give and the price of gold will take off again, this could take 3 months or 3 years- time will tell.

When it does happens (fairly soon 3-6 months IMO) mid-top tier gold miners will start showing greater interest in the 'juniors' that have JORC compliant reserves... and in Australiasia there are only a handful of 'juniors' in this position, HGD being one of them.

At this point in time many investors see junior explorers as far too risky/speculative, however the key to any 'junior' achieving success is JORC compliant reserves and establishing the economic viability for mining those reserves. This information when positive reduces the investors risk and attracts other 'players".

With the Talisman Scoping study and Waihi North drill results expected soon, I suggest we will have a 'clearer' indication of HGD 'position' in the upcoming month.:)

You may find the following link interesting.
http://www.theaureport.com/cs/user/print/na/1570

Cheers
BP:)

PS: and to all the 'knockers' of this thread who read this.. if you decide to post something, at least show you've actually done some homework first, rather than criticism
without any basis. Most contributors to this thread have been sincere enough to provide some insight into their research, they don't deserve ridicule from people who can't
substantiate their comments or thought process.

Very good post, cleared up a lot of things.

[BAPP]

I quess most 'junior' explorers are in a similar situation at the moment.

The one's with cash in the bank and an established resource may just come out 'shining'? IMO HGD is in this category... for now:)

The following extract from The Australian tells the story of the 'plight of the juniors' at the moment'!
-------------------------------------------------------------------------
Over coffee last week, the MD of an explorer proving up a very substantial mineral resource worried aloud about the chances of an opportunistic takeover. His share price had fallen to such an extent, he said, that some cashed-up buyer could pick up that resource for a comparative song.

If the price was just sweet enough, it could tempt even some of the more supportive shareholders to cash out. Almost everyone is spooked at the moment even though the fundamentals of the metals markets are not looking all that bad.

When everyone else is selling, the smarties will see it as a time to buy.
-------------------------------------------------------------------------------
The link to the full article is: http://www.theaustralian.news.com.au/story/0,25197,24233596-18261,00.html

Cheers
BP:)

[BAPP]

Extract from:http://www.theaureport.com/

If you're currently holding a stake in a 'junior' explorer this article is worth a read.

Cheers
BP:)

Extract:
Hang in There: Frank Barbera on Why Precious Metals May Power to New All-Time Highs in 2009
Source: The Gold Report 08/26/2008
Veteran money manager Frank Barbera tells The Gold Report why he believes gold, despite the current "major correction low," is headed back up. He says many juniors are incredibly undervalued, and discusses what could power the precious metals to new all-time highs in 2009. Barbera is currently the editor of The Gold Stock Technician (GST) Newsletter, which uses technical indicators to analyze precious metals and mining stocks, as well as oil and the overall market.

[brettdale]

Thankyou for posting this.

[underground]

all my free carried HGD shares are getting killed... i feel sorry for you blokes that are actually out of pocket on this one.. rough tide ahead... i was up a couple of grand on my HGD only months back. it would be fair to say that i got raped in the current market sentiment.

[brettdale]

This has to be a long termer, but I don't feel confident to buy more.

[BAPP]

This has to be a long termer, but I don't feel confident to buy more.

Hi brettdale,

Agreed.. it is better just to hold at the moment, without further speculation.

I think it was Strat who summed it up nicely by commenting that it would be better to pay 4 or 5c on the way up... than 2-3c on the way down.

I've suggested for a few months that September and this 3rd & 4th quarter would be an important time for HGD, with the Talisman Scoping Study, Waihi and Dunmarra drilling all 'part of the mix'.

Lets hope the final results are worth the wait.. and there is some light at the end of the tunnel for the faithful.

Cheers
BP:)

[brettdale]

Hi brettdale,

Agreed.. it is better just to hold at the moment, without further speculation.

I think it was Strat who summed it up nicely by commenting that it would be better to pay 4 or 5c on the way up... than 2-3c on the way down.

I've suggested for a few months that September and this 3rd & 4th quarter would be an important time for HGD, with the Talisman Scoping Study, Waihi and Dunmarra drilling all 'part of the mix'.

Lets hope the final results are worth the wait.. and there is some light at the end of the tunnel for the faithful.

Cheers
BP:)

September is a big month, a lot of stocks are going to have announcements that could see the future of the companies go up or down.

[Tanger]

I hope they aren't waiting until the AGM before releasing all of the information that is going to make the 30 September options in the money. Does anyone know if we should be expecting any drilling results or other information to be released before the AGM?

[Tanger]

Got to love resolution 2 for the Annual meeting. They want approval to increase directors fees from $50,000 to $96,000 in a twelve month period in which the share price went from around 6c to 2c. I would have thought a better option would be to give them some out of the money options and incentivise them to get the share price moving north again. I don't think the company should be increasing any spending limits at the moment, especially on directors fees.

[skeet]

Got to love resolution 2 for the Annual meeting. They want approval to increase directors fees from $50,000 to $96,000 in a twelve month period in which the share price went from around 6c to 2c. I would have thought a better option would be to give them some out of the money options and incentivise them to get the share price moving north again. I don't think the company should be increasing any spending limits at the moment, especially on directors fees.

Saw that there aswell, I dont know enough about how much directors get paid but an increase that big for a company that is recent time hasnt preformed on the sharemarket doesnt make sense to me.

Look forward to any annoucements this month! :)

[brettdale]

Got to love resolution 2 for the Annual meeting. They want approval to increase directors fees from $50,000 to $96,000 in a twelve month period in which the share price went from around 6c to 2c. I would have thought a better option would be to give them some out of the money options and incentivise them to get the share price moving north again. I don't think the company should be increasing any spending limits at the moment, especially on directors fees.

WTF?????????

[BAPP]

Just make sure you tick the 'right' - 'middle' box on your voting form then and get it in the post... or better still 'voice' you concern at the AGM!

Cheers
BP:)

[whatsup]

When do the reports go in the post

[Tanger]

Just sent it in now BAP. I've still got my fingers crossed that there will be some good news before the AGM.

[Tanger]

Anyone know the reason for the relatively large trade this morning on the NZX? Shares bought for 3c, substantially higher than price on the ASX (well at least at the moment before it opens). No news released that I can find.

Any ideas?

[doon]

Anyone know the reason for the relatively large trade this morning on the NZX? Shares bought for 3c, substantially higher than price on the ASX (well at least at the moment before it opens). No news released that I can find.

Any ideas?

No ideas here, but I like the trend- may it continue esp on ASX! (The depth seems to be improving as we speak before open:) )

[STRAT]

No ideas here, but I like the trend- may it continue esp on ASX! (The depth seems to be improving as we speak before open:) )Some one is keen all of a sudden :eek:

[Tanger]

Big depth now in Oz just before opening. Maybe reaction to NZ market, or the same investor. Someone is obviously keen. I love these "perfect" markets. I'll look back in a couple of days and see if this was a signal.

[STRAT]

Big depth now in Oz just before opening. Maybe reaction to NZ market, or the same investor. Someone is obviously keen. I love these "perfect" markets. I'll look back in a couple of days and see if this was a signal.If HGD announces anything in the immediate future it would be a clear sign of insider info and down right unfair on you guys IMO. Time will tell as always

[Jess9]

I would agree. I've been watching/holding HGD for some time. I've commented in the past IMO there seems to be a bit of accumulation every week or two in the last wee while However, there has also been ongoing pressure down - from AUS investors (just look at the Chart!) this flows through to NZX on what looks like a little bit of arbitrage. Therefore a break over about 2.5 AUS (ASX!) and on high volume would be a BUY signal in my book. Until then its still in a down trend, for now at least.

[chippy52]

This is certainly an interesting stock to follow. Although the price has been softening the OBV has been doing the exact opposite with distinct uptrend. Im getting itchy fingers.

[Jess9]

ASX goldies down 5% plus and HGD up 20-25%. Someone hit a buy instead of a sell ; )

Sept was always expected to be the month of news (progress report on alot of recent work). Maybe a positive pre-feas. study? Maybe some good grades finally hit? As Strat says time will tell.

If HGD does rack up a few extra 100K oz in 2009 then it will be very cheap compared to similar coys on the ASX. SILVER might also be a a nice extra if projected price increases fire. Can't remember but HGD has a JORC silver resource currently.

I'll have to take another look at that OBV. At least the down trend has been reducing, getting almost flat now.

[doon]

ASX goldies down 5% plus and HGD up 20-25%. Someone hit a buy instead of a sell ; )

I'll have to take another look at that OBV. At least the down trend has been reducing, getting almost flat now.

Sorry jess, but I have to be a little cynical about your observations. If the trend continues much further I'll have to pay someone to buy my shares! Frankly I think tech analysis means squat all in these times!
My chart records go back 16years approx- believe it or not ASX HTM were once (AUD$)45.6c Jan 1994. In this period they have only ever closed below 1.9c twice, and that was yesterday & today at 1.8c, so hope your 'trend' has finally reached the bottom. Over the last 18mth period while the whole market has been in some turmoil so to speak, HTM has dropped from its high close of AU9.6c to low of AU1.8c, a much larger drop than most other junior & spec resource stock I have been following. And this is after changes in management & corporate direction, which were intended to rejuvenate this company. There have been many indications of good news around the next corner, but not sure just when we are going to get to the bend in the road. I am sure there are many other slightly or heavily disillusioned followers here waiting with fingers crossed for the good news to be revealed to us all, sooner rather than later I hope:(

[Jess9]

Hi Doon. A bit of cynicism is very healthy in this current market. I would expect the sector to pick-up in 2009 on a rising gold price. That should in theory filter down to the juniors. But that is just background sector action. You are right in that HGD has to deliver, if not then at worst - face further punishment, or best languish on. One observation. Were it to happen, 2c to 10c is now a five bagger...I guess any one wanting exposure to junior gold plays must decide whether HGD offers far greater reward than a host of other gold juniors (all of whom have taken a heck of a beating over the last wee while). Alternatively wait for the market to lead the way, then simply follow.

[doon]

Well jess, 1.8c to 8c is also a 5 bagger so better still. However now I would be looking at a 10 bagger plus from these levels. I was hoping for a sector pick up in 2008, now seems I have to hope for one in 2009. Rising gold price is not a given now, depends who you listen to- bulls say anything from US$2000-US$5000 to bears back to US$500- all are supposedly pro investors & tech specialists, but one thing is guaranteed, one of them will be right with their predictions:) Go the bulls, and fingers crossed for some good news from Heritage- can't make the AGM but look forward to something positive.
On a positive note, some other Aus gld explorers have announced great results recently and their SP has taken a drop!

[moimoi]

Sorry jess, but I have to be a little cynical about your observations. If the trend continues much further I'll have to pay someone to buy my shares! Frankly I think tech analysis means squat all in these times!
My chart records go back 16years approx- believe it or not ASX HTM were once (AUD$)45.6c Jan 1994. In this period they have only ever closed below 1.9c twice, and that was yesterday & today at 1.8c, so hope your 'trend' has finally reached the bottom. Over the last 18mth period while the whole market has been in some turmoil so to speak, HTM has dropped from its high close of AU9.6c to low of AU1.8c, a much larger drop than most other junior & spec resource stock I have been following. And this is after changes in management & corporate direction, which were intended to rejuvenate this company. There have been many indications of good news around the next corner, but not sure just when we are going to get to the bend in the road. I am sure there are many other slightly or heavily disillusioned followers here waiting with fingers crossed for the good news to be revealed to us all, sooner rather than later I hope:(

The most illuminating post i've read on this stock in 2 years of following this thread.

Gold at a $1000 earlier this year wasn't enough to provide prospects for this stock. Neither a joint venture, nor a significant shareholder, nor in fact anything of note. It will be more of the same in 2009.

vote against ALL resolutions at the upcoming AGM.

[doon]

Hi stat, I can't see your chart clearly and can't enlarge, but looks like it goes back to 2003? Would look alot more impressive if you can show from 1992 and show the 46c climb and drop! Sorry I can't reproduce here my incredible charts version.

[STRAT]

Hi stat, I can't see your chart clearly and can't enlarge, but looks like it goes back to 2003? Would look alot more impressive if you can show from 1992 and show the 46c climb and drop! Sorry I can't reproduce here my incredible charts version.Hi Doon, Going back that far is no problem. Getting the chart to upload at full size is proving more difficult. If and once I figure out how I will repost back dated to 1992 :o

[Jess9]

ex http://www.heritagegold.co.nz/projTalisman.html

The underground drilling programme in 2005 delineated a JORC resource of 205,000 oz gold at a grade of 6.9g/t and 800,000 oz silver at a grade of 27 g/t

[Jess9]

200K gold vs 800K silver. Maybe HGD's future is in upping its silver resource also!

[Jess9]

Gold price down about $18. Oil down. DOW back in the dog box. In the face of this, interesting to see what level of support there is today for HGD.

Hi Croesus, any thoughts on coy activity which might tie into POSSIBLY recent HGD accumulation?

[croesus]

Hi Jess.
I suspect someone has either had a sniff of the drilling results, or is taking a punt that they will be positive, tried to get some HTM yesterday at 1.8 but missed out.

Would expect some good news in the offing... otherwise asking for more Directors fees is incredibly brazen IMHO.

cheers, Croesus.

[Jess9]

Yes. I was thinking the same. Higher fees is positive as it will be for more time and activity from the top (you would expect this if they are ramping up). Also note they ask to apportion as seen fit. I guess it allows those doing the work to be paid for it, sounds fair to me.

[Jess9]

Results would need to be exceptional to make an impact on the share price. I've seen others issue good looking hits and see price drop in line with over all sector movement (on the day). The key is of course to isolate a 1 mill + resource to partner up with Newmont.

[BAPP]

Yes. I was thinking the same. Higher fees is positive as it will be for more time and activity from the top (you would expect this if they are ramping up). Also note they ask to apportion as seen fit. I guess it allows those doing the work to be paid for it, sounds fair to me.

Hi Jess9,

I'm not sure that higher fees would automatically correlate to more time and activity from the top. IMO the near 'doubling' of Directors fees is ridiculous based on current company and market circumstances.

I have no issue with increases based on improved company performance, but anyone would be 'hard pressed' to convince shareholders that the increase in Directors fees last year has equated to improved performance or wealth.

So how will shareholders benefit from a further increase in fees this year?

Let the Directors indicate to shareholders what they are doing or have done to deserve such a large increase!

IMO this money would be better spent on establishing new resource levels, ie: drilling,.. and cash in the bank will be very important over the next year.

As Croesus has pointed out and I agree... 'asking for more Directors fees is incredibly brazen'... at this point in time.

Cheers
BP:)

[Jess9]

I guess I look at it as a "chicken or the egg" scenario here.

[BAPP]

I guess I look at it as a "chicken or the egg" scenario here.

Hi Jess9,

Yes and I remember voting in favour of an increase last year on the same basis.

As I indicated .. I have no problem with an increase based on performance, or even an increase in-line with average annual increases, but IMO an increase which almost doubles the existing fees is an insult to shareholders, based on the current performance of the company.

Cheers
BP:)

[STRAT]

Hi Jess9,

I'm not sure that higher fees would automatically correlate to more time and activity from the top. IMO the near 'doubling' of Directors fees is ridiculous based on current company and market circumstances.

I have no issue with increases based on improved company performance, but anyone would be 'hard pressed' to convince shareholders that the increase in Directors fees last year has equated to improved performance or wealth.

So how will shareholders benefit from a further increase in fees this year?

Let the Directors indicate to shareholders what they are doing or have done to deserve such a large increase!

IMO this money would be better spent on establishing new resource levels, ie: drilling,.. and cash in the bank will be very important over the next year.

As Croesus has pointed out and I agree... 'asking for more Directors fees is incredibly brazen'... at this point in time.

Cheers
BP:)
Hi yall,
I assume yall will get to vote on this?

Many company directors look upon Share Holders as a tool at best and a nuisance at worst.
Its important to remind them who they work for come voting time.
I have often abstained from voting in companies I hold under the premise that I am small time and a short term holder but now I always vote.
If its pisses yall off, Vote against. Every vote counts.

[shasta]

Hi yall,
I assume yall will get to vote on this?

Many company directors look upon Share Holders as a tool at best and a nuisance at worst.
Its important to remind them who they work for come voting time.
I have often abstained from voting in companies I hold under the premise that I am small time and a short term holder but now I always vote.
If its pisses yall off, Vote against. Every vote counts.

Too right STRAT, & to illustrate an example of shareholder power...

At last years AGM for Uran, there were enough hands present to vote against the Chairman receiving "free options", & whilst he eventually got them on a 2nd recount, this was highly embarassing & sent a strong message.

I've always had it in for greedy Boards/Management that don't align their interests with shareholders, with little or no performance criteria.

The new IFRS rules do mean that options have to be expensed, so they can't hide this away from there annual reports anymore.

FPA & FPH are classic examples of greedy Boards receiving "excessive" options.

Strats right, demand accountability & every disapproving vote cast sends a message.

A well managed company would take these "criticisms" onboard!

[Jess9]

Ex Kitco.com.au

SPOT MARKET IS OPEN
closes in 1 hr. 56 mins.
Sep 17, 2008 15:11 NY Time
Bid/Ask 863.20 - 865.40
Low/High 777.10 - 868.40
Change +85.50 +10.99%
30daychg +64.50 +8.08%
1yearchg +148.50 +20.78%


$85 dollar per oz increase.

[croesus]

Its not easy being a contrarian...........but have been adding to my HTM holding.

[brettdale]

Hopefullt since Gold shot up today, so will the shareprice!

[croesus]

HGD and HTM both up (on small volume)......BAP do you expect any news soon... they are currently 2 things in my book... a classic contrarian play.....or a investment disaster.. time will tell..... ( Disc... but I am still buying)

[BAPP]

HGD and HTM both up (on small volume)......BAP do you expect any news soon... they are currently 2 things in my book... a classic contrarian play.....or a investment disaster.. time will tell..... ( Disc... but I am still buying)

Hi Croesus,

Yes I do expect some news relatively soon, however just when I cannot say for sure. I would quess just prior to the AGM would be convenient for management.:rolleyes:

The Talisman scoping study must be nearing completion and also some initial drill results from both Waihi North and Dunmarra cannot be too far away either.:)

IMO we will not see any significant increase or value from the HGD share price until we get a clear indication from management on whether the Talisman mine is an economical venture and/or serious discussions are being held with a JV partner. IMO the drill results from Waihi North would be crucial to any possible JV discussions also.:)

The price of gold esculating today is very exciting for exploration company's that are getting closer to becoming producers but at this stage we remain unsure about HGD's potential on this front.:confused:

If we are a step closer to production at Talisman then I'm quietly confident our patience will be rewarded. :D However in this market nothing can be taken for 'granted'.

IMO one thing is for sure ... HGD will need to make some some significant announcements to the markets if they are to create any wealth for shareholders in the next 12 months.:rolleyes:

As you rightly indicate... time will tell!

Fingers crossed the Talisman mine is a 'goer', drilling at Waihi North highlights significant JORC compliant resource potential and the price of gold keeps climbing!:D

Cheers
BP:)

[doon]

Unfortunately there is obviously alot of 'forced' selling going on at present, along with mass hysteria. HTMOA on ASX 160,556 at .03, for just $482, on opts with 14mths to go is a good example with this stock. Opts are always a punt, but to bail out with 14 mths to go with small cash out indicates forced sale. I'm hurting but don't need $500 that bad (yet!) The buyer sitting with the balance of the 500k order will no doubt be pleased with the partial purchase. We've all got to remember, for every sale there has been a willing buyer, so still plenty of optimism in the market, just at what level is undecided.
One thing is for sure, the markets WILL turn eventually, when is anyones guess now. And everyone is guessing at present. Will be lots of overnight millionaires when this market turns for those with any funds left to invest.
Maybe today was Capitulation Day, maybe tomorrow? Won't know till we have the benefit of hindsight.
With gold on the way up again, look forward to some positive results soon from HGD :)

[Jess9]

Gold heading North again will certainly make JV more attractive especially if the large anomalies in Waihi North are shown more to contain a new and commercial grade reserve.

If gold heads towards over 1K and steams on for 2K, excitement in the sector should ignite quick, prompting merger/deals. If so, just hope we don't get taken out too cheap. After where the prices have been even 5c sounds high. My price target of 20c seems a long way off...!! But spec coys certainly CAN do crazy things.

Wonder where the production pilot idea got to? Even a few 000's oz would bring good amount of cash in to fund more drilling. September was to be the month for some news.

[ScrappyO]

Wonder where the production pilot idea got to? Even a few 000's oz would bring good amount of cash in to fund more drilling. September was to be the month for some news.

Hopefully we get some good info from the AGM.

Waihi North results
Extraction of ore from talisman
Treatment of ore from talisman
Financial models of talisman
Scoping study
Colbalt IPO
Uranium Drilling
Base Metals Northland Progress
Joint Ventures..........

Fingers crossed.

[brettdale]

I would be happy with a result that is just positive, it doesn't have to blow me away.

[Jess9]

I think this week's ending marks the turn.

[brettdale]

I think this week's ending marks the turn.

We live in hope, next week will be steady, I think.

[BAPP]

These links may be of interest to those of you 'investing' in junior explorers/producers.

http://www.goldworld.com/articles/invest-precious-metals/314

http://www.theaureport.com/pub/na/1643

I'm hopeful that HGD may just be a step closer to the junior 'producer' category once we see the Talisman study released.

Cheers
BP:)

[Jess9]

Odd looking trade today, ASX and NZX. Moderate size too.

[croesus]

Suspect it is someone taking a punt on good news being announced at Fridays AGM.
cheers Croesus.
P.S Anybody planning to attend ?

[Jess9]

but the movement between xchanges at the same time?

[croesus]

good point.. had'nt noticed that.

[brettdale]

Theres an AGM on Friday???

Anyone going?

[BAPP]

Suspect it is someone taking a punt on good news being announced at Fridays AGM.
cheers Croesus.
P.S Anybody planning to attend ?

Hi Croesus,

Yes, I'll be there.

Will post in my report coverage asap for those interested.

Hope anyone else who attends make themselves known.

Cheers
BP:)

[Jess9]

Been all very quite on the news front to date. Expected more. Nothing to say yet? Or will we get a bundle today!

BAP - I'm not attending AGM, but am still very interested in any future site visit.

[BigBob]

Been all very quite on the news front to date. Expected more. Nothing to say yet? Or will we get a bundle today!

BAP - I'm not attending AGM, but am still very interested in any future site visit.

I would love to be proved wrong, but my prediction is that there will be absolutely nothing new coming out of today's meeting..... a bit of a progress update with no real progress and a few carrots for us all to hang in there... but overall, nothing to hang your hat on...

[croesus]

Hi Bap, I will not be attending.. but thanks for your offer to post on your views etc on the AGM.

Re Site visit... I would definately be keen... but not till mid Nov, (or later) as I am going overseas next week for 5 weeks.

Cheers Croesus

[Tanger]

Just had a quick flick through the shareholders presentation for the AGM. Not that useful. Didn't appear to be anything new that hasn't already been signalled. Hopefully there will be a bit more useful information from the AGM.

[doon]

MD resignation? This is interesting, and a surprise. Anyone have any comments about this?

[doon]

Re: AGM. The presentation released of the AGM says nothing. No Chaimans address etc. Lack of info published for s/h's unable to attend is concerning. Can anyone who attended the AGM post some comments? Assume by lack of comments tonite you are all still drowning your what-evers in Auckland at some salubrious bar near the AGM venue- used to haunt some great bars in nearby Parnell in a previous life:) Would have liked to be there, but a little far away at present. Is the MD resignation/termination positive/negative? Thanks.

[Jess9]

Market reaction was nil - Friday. Most uncertain. Long shot, but wonder if a JV arrangement incl management etc at Waihi is on the cards. Be nice to know more. May need to phone on Monday.

[BAPP]

Have just started compiling my overview of the meeting, will get it posted within the next hour.

Cheers
BP:)

[BAPP]

The AGM was opened with a ‘quick’ welcome and introduction of the current board by Chairman Geoff Hill. The entire board of Directors were in attendance this year.:rolleyes:

There would have been around 15-20 shareholders present along with other company represenative’s and lawyers.

Mr Hill gave an overview of the past 12 months, noting both positive and negative aspects of the year.(from the management's prospective that is!)

Along with aspects of the global economic issues which affected the company’s intended BHCL IPO, possibly what seems to be the biggest immediate negative is the surprise notification of Trent Lash’s resignation, that takes place at the end of March 2009.:confused:

Questioned later in the meeting about his resignation, Trent indicated ‘personal’ reasons and an new opportunity ‘beckoning’ as the decision for his departure.

From the incept of the meeting it was evident that Geoff Hill was pushing forward the ‘defence’ for an increase in Directors fees by repeatedly reassuring shareholders about how hard the Directors had worked through the year and by continually reiterating how a lot of their work was behind the scenes and thankless.

His introduction covered previously released announcements and didn’t provide any insights into the future. He assured the shareholders that the company was currently in a cash position that would assure current projects and permit areas could be maintained for about 18 months.

He then handed over to Trent Lash who gave a presentation which included some visual slides about the progress or 'lack of it' in some cases made on individual projects. Apparently the presentation has been loaded on the website.

At this early stage it was already evident that the meeting was going to be rather repetitive with most of the points covered were ‘old news’.

Firstly Trent provided an overview of the Tenement areas and the aeromagnetic and radiometric surveys in Waihi.

In this coverage I would suggest the positives came from the results from the air and ground survey’s in Waihi North and Golden valley. As previously reported these show large anomalies similar to Martha pit.(see page 4 of the slide presentation)

It was also ‘clear’ that the Talisman project is the key asset for the company.

While there was no ‘new ground’ covered the one pleasing aspect was the confidence shown by Trent and the management that the entire Talisman permit area would have an estimated or inferred resource level of approximately 3 million oz of gold. The indication was that this would be high grade and commercially mine able.

The negatives were the lack of commercial grade results from the Rahu drilling programme which had been ‘halted’ indefinitely while they evaluate the geological structure of the area further.

The presentation then covered the Northland Tenements and that ground based -reconnaissance surveying were getting underway.

Trent then moved onto the Australian tenements , firstly he covered the Dunmarra Uranium programme were 4 holes at Beetaloo Station EL 25921 had been drilled. This was one of the 3 permit areas to be drilled and while not providing encouraging signs at this stage, they were still awaiting the assay results and geological reports.

He then covered the Thackaringa Cobalt project and again provided information that was already publicly available, although he did add that drilling was about to recommence and that along with cobalt the ground survey’s had provided good prospects for Copper,lead and Zinc.

There was no indication on when the IPO would reviewed.(another negative IMO)

Following Trent’s presentation to shareholders the resolutions were voted upon and all passed with relative ease.(once again no surprises there!:rolleyes:)

The Directors were all re-appointed without question.

There was some questions raised with regards to the increase in directors fees and some difficult questions presented by one or two shareholders, however the ‘numbers’ always seemed to be in favour of the increase.

The justification given by Directors was based around the old adage, that you will ‘only get monkeys’ if you ‘pay peanuts’ and that all the Directors bought speciality knowledge and experience to the board that would cost a lot more if contracted out to consultants.

The number of Directors on the board was also questioned, but the need for experience on the board rather than using consultants was again the reasoning behind the number of Directors.

Once the resolutions were passed, the meeting moved to general business and a Q&A session.

The questions mainly revolved around progressing the Talisman mine which was seen as the key asset and the most immediate way for the company to progress.

It was indicated that the Talisman would need a JV partner and /or approximately $15 million of cash to establish a small commercial mine, processing and treatment plant.

While the scoping study was near completion it would not provide any significant news for shareholders and it was primarily a ‘blueprint’ for management or potential JV partners to establish economic feasibility.

In the question session, Mr Hill and Lash indicated that serious discussion were underway with four potential ‘off shore’ JV partners and one in particular was showing strong interest. There was some indication that a result of the discussion could be known in 3-6 months but there were no promises. (nothing new here!)

It was also indicated that a JV relationship between HGD and Newmont seemed unlikely at this stage.

It was commented by management that it was difficult to get good JV partners interested in NZ explorers due to our location and environmental history of the industry. This of course could also be easily 'countered' by the fact that Newmont has operated in Waihi, one of the most successful mines in the world.

Mr Hill also suggested that assuming the price of gold stayed at current levels or continued to increase then the opportunity for a JV would more encouraging.

There projected ROI on gold extracted from the Talisman was considered very good (excellent)with gold prices above US$800/oz. Operating costs of around US$150/oz were indicated by Trent.

After about 75 minutes the meeting was closed by Mr Hill.

IMO it seemed evident that the main avenue for progress for HGD at Talisman and Waihi is by way of joint venture with a mid tier producer.

To be honest I would have to suggest there were no ‘highlights’, as there was nothing new announced.

I was concerned that there was no evidence of a ‘vision’ or ‘targets’ for 2009 and I left the meeting feeling there were more questions than were
answers.

I didn’t hear anything that would give investors confidence to invest in this junior explorer unless a JV partner is established.

I would also suggest the cash position of the company will be a issue this time next year. About the the time the next lot of options expire.

I've endeavored to give a balanced overview of the meeting and would be interested to hear the opinion of other shareholders who attended. If I 'missed' anything hopefully they can add to this post.

Cheers
BP:)

[kanejones]

Thanks BAP, an excellent overview.

[Sumnerned]

Thanks BAP. A bit disappointing overall, as venture capital is in such short supply at present.

[KS]

Thank you BAP for your AGM report.

[STRAT]

Thanks for that BAP.
I contemplated going along but as I dont hold right now it didnt manage to get to the top of my priority list and of course you cant always get in if you are not on the register. Mind you Heritage still send me stuff even though Ive been out since last year. I guess they dont update their share holders posting register all that often.

It must be a huge disappointment that Trent is leaving. Who will wipe away the cobwebs laying over the old team now?

[shasta]

Thanks for that BAP.
I contemplated going along but as I dont hold right now it didnt manage to get to the top of my priority list and of course you cant always get in if you are not on the register. Mind you Heritage still send me stuff even though Ive been out since last year. I guess they dont update their share holders posting register all that often.

It must be a huge disappointment that Trent is leaving. Who will wipe away the cobwebs laying over the old team now?

BAP

Good of you to post the overview, just thinking out loud here, but...

Has there ever been any discussion/links with OGC (OceanaGold)

They are ontrack to produce around 260,000 - 275,000/oz this year from there NZ operations (Reefton & Macraes), & looking to expand into the Phillipines.

As they are experiencing problems getting funding for the massive Didipio Copper-Gold project, i've often wondered whether they would look at NZ opportunities eg, HGD.

I held HGD a long time ago, & was interested in OGC.

I can see a potential tie up here, & am interested if there has ever been any rumours/discussions held?

Cheers

[ScrappyO]

Thanks for that Overview BAP.

I feel we have almost come full circle and HGD will continue as it always has.





It must be a huge disappointment that Trent is leaving. Who will wipe away the cobwebs laying over the old team now?

Yes to me this is a concern. I voted against Geoff and Peter's re-appointment purely because i feel they have been around to long and done nothing. Geoff with the BHCL listing which has been in the pipe line for about 5yrs and Peter because of the slow progress at Waihi.

[BAPP]

BAP

Good of you to post the overview, just thinking out loud here, but...

Has there ever been any discussion/links with OGC (OceanaGold)

They are ontrack to produce around 260,000 - 275,000/oz this year from there NZ operations (Reefton & Macraes), & looking to expand into the Phillipines.

As they are experiencing problems getting funding for the massive Didipio Copper-Gold project, i've often wondered whether they would look at NZ opportunities eg, HGD.

I held HGD a long time ago, & was interested in OGC.

I can see a potential tie up here, & am interested if there has ever been any rumours/discussions held?

Cheers

Hi Shasta,

No, there was no discussion or mention of OGC. It was implied that the interested parties were 'off shore' producers and that no company in NZ was 'holding their hands up' to assist with the treatment of ore from the Talisman.

I have often wondered about the possibility myself, however IMO the underlying factor is that the company's with processing and treatment plants in NZ seem to be waiting for HGD to 'run out of funds' and 'fall over'.

This will then provide them with an opportunity to acquire the permits titles and associated survey records etc.. 'cheaply' from the government.

This puts HGD's management in the difficult position of having to balance funds between progressing with drilling programmes and their discovery and permit obligation to the 'crown'.

I think 2009 will have a tough year if they are unable to secure a JV partner.
Raising additional capital will not be easy unless there is some 'light at the end of the tunnel'.

Cheers
BP:)

[Oiler]

Have just started compiling my overview of the meeting, will get it posted within the next hour.

Cheers
BP:)

Hi BAP

You certainly did compile a report. I didn't see you taking notes during the meeting, or was it a hidden tape recorder. :D

It certainly appears that the Talisman is the company maker. I suspect that Trent wants to leave his mark on the company before he goes next March and Talisman looks like his best option. Maybe he will see his options in the money by then ;) He certainly had a smile in his "voice" when he talked about Talisman.

We just wait a few more months for the good news.:confused:

Cheers

Oiler

[Jess9]

Well done BAP. Thanks from me also, appreciated.

Quick question: What was said about the work to firm up the Waihi North Anomalies?

[BAPP]

Hi BAP

You certainly did compile a report. I didn't see you taking notes during the meeting, or was it a hidden tape recorder. :D

It certainly appears that the Talisman is the company maker. I suspect that Trent wants to leave his mark on the company before he goes next March and Talisman looks like his best option. Maybe he will see his options in the money by then ;) He certainly had a smile in his "voice" when he talked about Talisman.

We just wait a few more months for the good news.:confused:

Cheers

Oiler

Hi Oiler,

Normally I do take 'bullet point' notes (pretty standard in my job), however this time I relied on memory, so I hope I didn't miss anything. (no tape recording:))

While I think I covered most of the meeting, please add anything you think I missed.

With regards to Jess9's question about the Waihi North anomalies, I do not remember any 'direct' discussion about this, however my understanding is that while they're behind schedule due to the bad weather conditions encountered through July the drilling at Waihi North is now underway.

Again 'from memory' the only comment about this part of programme was based around the the 'hardness' of the ore being drilled through and how the contractors were 'wearing out' there diamond drills rapidly. Apparently from a geological viewpoint this is a good sign.:)

While I suggest Trent's resignation is definitely a disappointment I would also suggest that the 'signal' from management (including Trent) was that a JV scenario was the desired outcome for the Waihi Tenements, specifically Talisman. If this was the 'likely' outcome then I would also suggest that Trent would 'possibly' relinquish his position as MD anyway.

Thinking ahead a JV partner at Waihi would probably want one of their 'own' people heading this project should they be injecting funds.

The indication from Mr Hill was that JV discussions would take 3-6 months. Trent's resignation date would see him involved in the company for this period.

Cheers
BP:)

[Jess9]

I guess the plan currently is then to drill Waihi North, prove up a "Martha size" lode and use this to get a great deal from the most valiant suitor (as I assume there would be a number - depending on the size of any strike). Lets hope then that the aero-mag is spot on accurate!

[mistymountain]

Thanks for that AGM report.

A timely update.

I wonder if given the doubling of the directors fees we'll get better value from our company?? One would expect postive progress if rewards like this are being handed out.

A sceptic would just say they're running funds down before winding the company up.

Time will tell

[BAPP]

I guess the plan currently is then to drill Waihi North, prove up a "Martha size" lode and use this to get a great deal from the most valiant suitor (as I assume there would be a number - depending on the size of any strike). Lets hope then that the aero-mag is spot on accurate!

Hi Jess9,

IMO any negotiations regarding a JV partner for the Talisman will see a deal combining the entire Waihi tenements and the probability of a deal being achieved will improve if the price of gold remains steady or increases over the next 6 months.

The aeromagnetic/radiometric survey slide presented shows huge anomalies at both Waihi North and Golden Valley. (see slide 4 of AGM presentation)

The encouraging sign is that the area of the anomalies is a comparable size to the Martha pit at Waihi North, but better still Golden Valley shows an area several times larger.

From previous announcements I believe drilling at Golden Valley will commence in 2009.

Cheers
BP:)

[doon]

Thanks for all your comments BAP. I was hoping for something more positive from the meeting. More patience required obviously, so into the bottom drawer they go along with a few others! They will be worth something one of these days.

[croesus]

Thanks BAP............I concur with Doon.

Will shortly be away from the Internet and phones for 5 weeks.....so will look up this thread with interest sometime in Nov.
cheers C.

[BAPP]

Hi Jess9 & MistyMountain

One point to remember is that while drilling is underway at Waihi North the permit lease needs to be renewed with the 'crown'. The company has recently applied for an extension on this permit according to their previous announcements.

IMO the increase in directors fees will not provide any 'greater' value for the existing shareholders. However as most of the directors have a significant shareholding in HGD it would surely be their interests to progress the company anyway they can... a JV agreement for the Talisman, Rahu and Waihi seems the most logical and 'likely' step forward.

Cheers
BP:)

[Crypto Crude]

BAP,
thanks for your insight on the AGM...
:cool:
.^sc

[temuk]

Nice report BAP.

This is an exert from the statment to stock exchange last Friday.

"Heritage Gold announces the resignation of Trent Lash as Managing Director.
Endeavour Group is terminating its management contract with the Company. "

Who is Endeavour Group?
Is it merely Trents company ?

[Oiler]

Nice report BAP.

This is an exert from the statment to stock exchange last Friday.

"Heritage Gold announces the resignation of Trent Lash as Managing Director.
Endeavour Group is terminating its management contract with the Company. "

Who is Endeavour Group?
Is it merely Trents company ?

Yes you are right. Endeavour Group is Trents company.

Oiler

[ScrappyO]

This was in The Australian...


BGF Equities' analyst Warwick Grigor charts about 140 companies on a daily basis and each Friday sends out a summary of price movements. Get this: just 4 per cent of the stocks are in uptrend and 72 per cent are in downtrend (the others flat-lining). Those on the uptrend include Cougar Energy (CXY), an underground coal gasification play, as is Linc Energy (LNC), which hit a new high of $5.25 on Thursday. Also interesting is that BGF's list is a junior version of the S&P/ASX indices; you watch to see who drops out and who comes in each time they're revised. Last week, Grigor dropped Adelaide Resources (ADN), Caspian Oil & Gas (CIG), Heritage Gold NZ (HTM), and Saracen Mineral Holdings (SAR) mainly because they've temporarily come off the boil. On the boil and now on the watchlist is Mithril Resources (MTH), due to its nickel discovery in the Northern Territory.


Were they ever on the boil..


http://www.theaustralian.news.com.au/story/0,25197,24415193-18261,00.html


Disc Hold

[BAPP]

Interesting to see Directors fee increase mentioned in the paper.

http://www.stuff.co.nz/4715541a13.html

Cheers
BP:)

[tobo]

of particular interest to me is that during this past week the sp did not drop radically outside it's recent trading range in spite of the Trent news and the general global turmoil.

Other (Australian) resource specs have all pretty much declined, a few fallen headfirst down a mineshaft!

ToBo

[underground]

this is gone on long enough.. this company just keeps going around in circles.

i believe we as shareholders need to excercise our power.

if enough of us banded together we could threaten HGD with a derivative action under section 165 of the Companies Act.

meaning that we as minority shareholders will have a say and maybe even representation on the board

[Jess9]

Nice to see gold over $900 again. HGD been holding quite well, either that or all the others are running downhill quicker. Interesting times.

[brettdale]

this is gone on long enough.. this company just keeps going around in circles.

i believe we as shareholders need to excercise our power.

if enough of us banded together we could threaten HGD with a derivative action under section 165 of the Companies Act.

meaning that we as minority shareholders will have a say and maybe even representation on the board

With the apathy of some shareholders, I dont think that would work.

[BAPP]

this is gone on long enough.. this company just keeps going around in circles.

i believe we as shareholders need to excercise our power.

if enough of us banded together we could threaten HGD with a derivative action under section 165 of the Companies Act.

meaning that we as minority shareholders will have a say and maybe even representation on the board

Hi underground,

Could you clarify how you perceive the management of HGD have neglected their responsibilities with regards to this act. I have 'pasted' the relevant details below and unless I'm missing something believe the management covered the provision.

Cheers
BP:)

165. Statutory meeting and statutory report of company

(1) Every company limited by shares, and every company limited by guarantee and having a share capital, shall, within a period of not less than one month nor more than six months from the date which is the company is entitled to commence business, hold a general meeting of the members of the company, which shall be called "the statutory meeting".

(2) The Board of directors shall, at least twenty-one days before the day on which the meeting is held, forward a report (in this Act referred to as "the statutory report") to every member of the company:

Provided that if the statutory report is forwarded later than is required above, it shall, notwithstanding that fact, be deemed to have been duly forwarded if it is so agreed to by all the members entitled to attend and vote at the meeting.

(3) The statutory report shall set out-

(a) the total number of shares allotted, distinguishing shares allotted as fully or partly paid-up otherwise than in cash, and stating in the case of shares partly paid-up, the extent to which they are so paid-up, and in either case, the consideration for which they have been allotted;

(b) The total amount of cash received by the company in respect of all the shares allotted, distinguished as aforesaid;

(c) an abstract of the receipts of the company and of the payments made thereout, upto a date within seven days of the date of the report, exhibiting under distinctive headings the receipts of the company from shares and debentures and other sources, the payments made thereout, and particulars concerning the balance remaining in hand, and an account or estimate of the preliminary expenses of the company, showing separately any commission or discount paid or to be paid on the issue or sale of shares or debentures;

(d) The names, addresses and occupations of the directors of the company and of its auditors; and also, if there be any, of its 1[***] manager, and secretary; and the changes, if any, which have occurred in such names, addresses and occupations since the date of the incorporation of the company;

(e) the particulars of the any contract which, or the modification or the proposed modification of which, is to be submitted to the meeting for its approval, together in the latter case with the particulars of the modification or proposed modification;

(f) the extent, if any, to which each underwriting contract, if any, has not been carried out, and the reasons therefor;

2[(g) the arrears, if any, due on calls from every director and from the manager; and]

3[(h) the particulars of any commission or brokerage paid or to be paid in connection with the issue or sale of shares or debentures to any director or to the manager].

(4) The statutory report shall be certified as correct by not less than two directors of the company one of whom shall be a managing director, where there is one.

After the statutory report has been certified as aforesaid, the auditors of the company shall, in so far as the report relates to the shares allotted by the company, the cash received in respect of such shares and the receipts and payments of the company 4[***] certify it as correct.

(5) The Board shall cause a copy of the statutory report certified as is required by this section to be delivered to the Registrar for registration forthwith, after copies thereof have been sent to the members of the company.

(6) The Board shall cause a list showing the names, addresses and occupations of the members of the company, and the number of shares held by them respectively, to be produced at the commencement of the statutory meeting, and to remain open and accessible to any member of the company during the continuance of the meeting.

(7) The members of the company present at the meeting shall be at liberty to discuss any matter relating to the formation of the company or arising out of the statutory report, whether previous notice has been given or not; but no resolution may be passed of which notice has not been given in accordance with the provisions of this Act.

(8) The meeting may adjourn from time to time, and at any adjourned meeting, any resolution of which notice has been given in accordance with the provisions of this Act, whether before or after the former meeting, may be passed; and the adjourned meeting shall have the same powers as an original meeting.

(9) If default is made in complying with the provisions of this section, every director or other officer of the company who is in default shall be punishable with fine which may extend to 5[five thousand rupees].

(10) This section shall not apply to a private company.

[doon]

With the apathy of some shareholders, I dont think that would work.

I don't think there is any 'apathy' as such with s/h'ers at present. With the global problems right now, I believe all companies must conserve any cash they have, and try and hold out and keep solvent during these turbulent times. Once the global shake-out completes, and this should be soon, the companies left standing with real assets will show great returns. Here is hoping Heritage can withstand these times, and come out worth something- their gold assets should be valued higher than many other junior explorers during turbuent times. Now is the time you have to put your faith in the current directors to nurse this company through the next few weeks, or months? The CEO departure could be a positive sign here, there are several Directors with very good credentials to push this comany along going forward. Maybe the Dirs's realised after 12 months or so, Trent Lash was not coming up with the results. There was obviously no progress with any potential Newmont JV, in fact quite the contrary which I find very disappointing and worrisome- Heritage have confirmed gold resource on Newmonts back yard and Newmont are running out of resource? Maybe Lash/Newmont didn't connect? Everyone should be keeping their fingers crossed, tightly, and keep positive here. I've got quite a large investment here which is looking very sick at present!

[underground]

Hi underground,

Could you clarify how you perceive the management of HGD have neglected their responsibilities with regards to this act. I have 'pasted' the relevant details below and unless I'm missing something believe the management covered the provision.

Cheers
BP:)



the mere fact that section 9 in your version refers to "rupees" should have alerted you to the fact that you may have the wrong literature. =)

the real section is as follows [ retrieved from www.legislation.govt.nz (http://www.legislation.govt.nz) ]

i hope the following makes more sense to you =)
165 Derivative actions


(1) Subject to subsection (3) (http://legislation.govt.nz/act/public/1993/0105/latest/link.aspx?search=ts_act_companies+act+1993&id=DLM320825#DLM320825) of this section, the Court may, on the application of a shareholder or director of a company, grant leave to that shareholder or director to—

(a) Bring proceedings in the name and on behalf of the company or any related company; or


(b) Intervene in proceedings to which the company or any related company is a party for the purpose of continuing, defending, or discontinuing the proceedings on behalf of the company or related company, as the case may be.

(2) Without limiting subsection (1) (http://legislation.govt.nz/act/public/1993/0105/latest/link.aspx?search=ts_act_companies+act+1993&id=DLM320825#DLM320825) of this section, in determining whether to grant leave under that subsection, the Court shall have regard to—

(a) The likelihood of the proceedings succeeding:


(b) The costs of the proceedings in relation to the relief likely to be obtained:


(c) Any action already taken by the company or related company to obtain relief:


(d) The interests of the company or related company in the proceedings being commenced, continued, defended, or discontinued, as the case may be.

(3) Leave to bring proceedings or intervene in proceedings may be granted under subsection (1) (http://legislation.govt.nz/act/public/1993/0105/latest/link.aspx?search=ts_act_companies+act+1993&id=DLM320825#DLM320825) of this section, only if the Court is satisfied that either—

(a) The company or related company does not intend to bring, diligently continue or defend, or discontinue the proceedings, as the case may be; or


(b) It is in the interests of the company or related company that the conduct of the proceedings should not be left to the directors or to the determination of the shareholders as a whole.

(4) Notice of the application must be served on the company or related company.

(5) The company or related company—

(a) May appear and be heard; and


(b) Must inform the Court, whether or not it intends to bring, continue, defend, or discontinue the proceedings, as the case may be.

(6) Except as provided in this section, a shareholder is not entitled to bring or intervene in any proceedings in the name of, or on behalf of, a company or a related company

[BAPP]

the mere fact that section 9 in your version refers to "rupees" should have alerted you to the fact that you may have the wrong literature. =)

the real section is as follows [ retrieved from www.legislation.govt.nz (http://www.legislation.govt.nz) ]

i hope the following makes more sense to you =)
165 Derivative actions

[/LIST]


Hi underground,

Good point and definitely my mistake. I should have read through and 'paid more' attention ...

'Mine' was a simple question. I needed to know whether there was some validity in your suggestion.

The tone in your reply tells me all I need to know!

BP:rolleyes:

[Jess9]

Money supply increasing massively from US and Europe. Some are saying this will flow into resource stocks. Should be good in next few months to lubricate a JV deal with easier access to funding etc. HGD just need to be able to point with certainty to a 1m+ resource to cement a GOOD deal. Fingers x'd, if this comes together over the next few months HGD will finally be a money maker. Still, alot of ifs still. However, some depth/confidence building again on NZX, hopefully on resource development work. I don't mind a little "leakage" if the news is to be good.

[BAPP]

Money supply increasing massively from US and Europe. Some are saying this will flow into resource stocks. Should be good in next few months to lubricate a JV deal with easier access to funding etc. HGD just need to be able to point with certainty to a 1m+ resource to cement a GOOD deal. Fingers x'd, if this comes together over the next few months HGD will finally be a money maker. Still, alot of ifs still. However, some depth/confidence building again on NZX, hopefully on resource development work. I don't mind a little "leakage" if the news is to be good.

Hi Jess9,

At the AGM, Geoff Hill insisted that finding a JV partner with significant production capabilities for Waihi was a priority.

While there was an indication that we could expect a 3 month timeframe I also understand that talks are progressing.

I would suggest that the price of gold makes HGD look quite attractive given that management is inferring resource levels of closer to 3million oz at Talisman/Rahu. I was also surprised to hear that they are forecasting operating expenses to be as low as us$150/oz, there could be some 'tidy' profits made once a mine was established.

Cheers
BP:)

[Jess9]

$150 US an OZ!! I look forward to the pre-feas. study detail. If that is accurate cash costs, it would make HGD a VERY VERY cheap producer, great margins at today's price. $150/oz would be a great draw card to JV partner especially if the resource levels prove up quickly.

Were Au $ to get legs in the next we while, as I expect it might, early retirement (or at least a nice long holiday) is again back the cards! Especially needed, after the last few wild weeks, market wise : ) What a speccie.

[shasta]

$150 US an OZ!! I look forward to the pre-feas. study detail. If that is accurate cash costs, it would make HGD a VERY VERY cheap producer, great margins at today's price. $150/oz would be a great draw card to JV partner especially if the resource levels prove up quickly.

Were Au $ to get legs in the next we while, as I expect it might, early retirement (or at least a nice long holiday) is again back the cards! Especially needed, after the last few wild weeks, market wise : ) What a speccie.

BAP

Given most larger established ASX Gold producers are struggling to keep direct cash costs below $US500/oz (& in some cases higher), is there any report available to confirm the $US150/oz claim?

Reasons why i ask are that...

1. I'd be extremely keen to invest into HGD on that basis

2. It is a dead set takeover target with those reserves (JORC?).

3. I believe next year will see new highs for both Gold & silver

[doon]

US$150 oz? Newmont 2007 report states their Aus/NZ production costs at US$590oz. http://www.newmont.com/en/investor/releases/media/newmont/2007_Annual_Report.pdf
Doc page 38, report page 25.
Also interesting from http://www.marthamine.co.nz/
Exploration
Newmont Waihi Gold’s exploration and geological investigations continue. The company invests around $9M a year on exploration near-mine and in the region.
Puts Heritage current market cap $6,041,770 (@2.1) and cash NZ$2.5m end June Q08 and est cash outflow for exploration Sept Q08 $500k ($2m annually?) into perspective.
Also, Talisman scoping study was due for completion August- no word yet?
Patiently (just) waiting for some positive news from Heritage, haven't given up yet, but have some serious concerns here, especially with the apparent total disinterest from Newmont- must be a good reason they have no interest? They could t/o Heritage for less than their annual exploration costs at Waihi at current m/c!

[Jess9]

If $150 USD were to be correct (i.e. confirmed by a pre-feas study) I wonder if this could mean management are currently inferring some very high ore grades in concentrated areas. Wild speculation... but if it were so (proven-up by drill results), it may even scare THAT dam bear! From HGD at least. Anyway, back to the mundane for now ; )

[BAPP]

BAP

Given most larger established ASX Gold producers are struggling to keep direct cash costs below $US500/oz (& in some cases higher), is there any report available to confirm the $US150/oz claim?

Reasons why i ask are that...

1. I'd be extremely keen to invest into HGD on that basis

2. It is a dead set takeover target with those reserves (JORC?).

3. I believe next year will see new highs for both Gold & silver

Hi shasta,

I am unaware of any reports which can qualify my comments, however I can say these figures, both the estimated resource level and operating costs, were indicated to shareholders by management at the AGM.

To be honest this figure seems extremely low given standard costs benchmarks across the industry, so maybe other AGM attendees could comment in case I have misinterpreted the discussion.. I did note both points in my AGM notes, but could have got it wrong.

Also there was no indication to what costs were being allocated as 'operational' or to what stage of production this included, but it was openly discussed and committed that the margins looked extremely attractive.

Geoff Hill also made specific comments about the high grade ore prospects and Trent openly commented that management believed the mine-able potential resource level would be close to 3 million oz.

He also commented that the Talisman Scoping study was unlikely to be reported in any detail, as it would be used as a blueprint for future considerations that were to be decided by the board. This suggests to me that it is primarily a tool to entice a JV partner with mining capabilities at this stage.

IMO a JV at the Talisman/Rahu area must proceed within the next 3-6 if HGD is to have any long term future. The big question (for me anyway) will be whether they can secure a package that improves shareholder wealth and can generate some additional funds for further exploration at the same time.

I think it is also critical that they retain the Waihi North permit which is undergoing a renewal application. I wouldn't be surprised to see some news towards the end of November.

Cheers
BP:)

[shasta]

Hi shasta,

I am unaware of any reports which can qualify my comments, however I can say these figures, both the estimated resource level and operating costs, were indicated to shareholders by management at the AGM.

To be honest this figure seems extremely low given standard costs benchmarks across the industry, so maybe other AGM attendees could comment in case I have misinterpreted the discussion.. I did note both points in my AGM notes, but could have got it wrong.

Also there was no indication to what costs were being allocated as 'operational' or to what stage of production this included, but it was openly discussed and committed that the margins looked extremely attractive.

Geoff Hill also made specific comments about the high grade ore prospects and Trent openly commented that management believed the mine-able potential resource level would be close to 3 million oz.

He also commented that the Talisman Scoping study was unlikely to be reported in any detail, as it would be used as a blueprint for future considerations that were to be decided by the board. This suggests to me that it is primarily a tool to entice a JV partner with mining capabilities at this stage.

IMO a JV at the Talisman/Rahu area must proceed within the next 3-6 if HGD is to have any long term future. The big question (for me anyway) will be whether they can secure a package that improves shareholder wealth and can generate some additional funds for further exploration at the same time.

I think it is also critical that they retain the Waihi North permit which is undergoing a renewal application. I wouldn't be surprised to see some news towards the end of November.

Cheers
BP:)

Appreciate your comments, & like Jess mentioned if HGD do have very high grades at Talisman then perhaps the costs will be low.

Am watching from the sidelines with interest ;)

[whatsup]

Has any reason been given why Trent resigns next year/ is he covering his butt incase the drilling/exploration efforts are a dud?

[kanejones]

Are there any announcements/results etc due?

I'm still living in hope!

[BAPP]

Are there any announcements/results etc due?

I'm still living in hope!

Hi kanejones,

I think you can expect a quarterly report at the end of the week, although I wouldn't anticipate any exciting news just yet.

The securing of a JV partner at Talisman/Rahu may happen sooner rather than later if Mr Hill's comments at the AGM are any comfort, but if his timeframe is anywhere near accurate we still have a few months to wait.

I understand that there is a few mining company's showing interest at the moment, so there maybe some 'light at the end of the tunnel'.

I think there are still a few of us who are hopeful!;)

Cheers
BP:)

[whatsup]

Ann out any update doesnt look too exciting to me, whatsup BAP!!!!!!!!!!!!!!

[BAPP]

Ann out any update doesnt look too exciting to me, whatsup BAP!!!!!!!!!!!!!!

Hi whatsup,

Agreed, there is nothing exciting to consider at present, however I did suggest this announcement wouldn't tell us much.

Obviously the final confirmation of the uranium exploration being a 'dead duck' was a disappointment, but this was indicated at the AGM and there is still a lot of work to be done at Waihi North and in particular Golden Valley.

IMO the entire success of HGD (if there is to be any) hinges around a JV partnership being established at the Talisman. The resource levels and economics look viable for an economic mining operation.

We maybe on the count down?

It's tough holding any shares at the moment, but s**t you have to really tough (or ...) if you own shares in HGD.:)

Gotta keep smiling!

Cheers
BP:)

[whatsup]

Ann out today BAP please explain?

[BAPP]

Ann out today BAP please explain?

Hi whatsup,

IMO the Scoping study results will give HGD some leverage in any discussions with JV partners. It seems clear that the Talisman is a major asset and they need to get it into production asap.

I would suggest that the levels of gold & silver resource indicated in the study and by Trent at the AGM would interest several mid size mining companies. (and it wouldn't surprise me if there were some already 'lining up' to find out more)

For me the following paragraph extracts were the important parts of yesterday's announcement.

Cheers
BP:)

During September, Heritage Gold completed a Scoping Study of its Talisman Mine project. A Critical Appraisal was undertaken by Gemell Mining Engineers Pty Ltd., of Australia, and recommendations from this appraisal are being incorporated in the study.

The Scoping Study, in addition to the previously announced resources of 204,000 oz gold, 797,000 oz silver, targets geological potential ranging between 827,000 oz gold and 2.47 million oz silver to 3.3 million ounces gold and 9.88 million oz silver.

A number of mining extraction and treatment options were assessed. The study was based on progressively developing the project to a sustainable annual production of 50,000 oz gold p.a. over three years, with an upside objective of up to 100,000 oz gold.

The company will use the Scoping Study as a basis for discussions with prospective Talisman Project joint venture partners and to map the development of a Feasibility Study.

At 30 September Heritage Gold had cash at bank position of $1,627,000. The company is actively seeking joint venture partners for its Karangahake Gold Project, which includes the historic Talisman mine and adjoining exploration tenements of Dominion Knoll and Rahu.

[JBmurc]

Got me a HGD holding av .017 hopefully this is at is't lows might have to pick Peter's brain on HGD am certainly confindent on the future gold price

[Jess9]

Hi JBmurc - good to have you on the thread, be interested to hear your thoughts post your chat with Peter - if you are happy to discuss.

If the scoping study is about right, then holders should do very well if/when a JV arrangement is reached. The risk now and in the current market is that one wont. I hold a bunch of 09 options and may get a few more heads if the price gets a little more tempting. The risk premium has increased in the present market to my mind - reflected in HGD's price below 2c.

[Jess9]

Got me a HGD holding av .017 hopefully this is at is't lows might have to pick Peter's brain on HGD am certainly confindent on the future gold price

JBmurc is the above silver target BAP notes relatively significant?

I've always followed HGD for the gold story. But the above target sounds interesting, especially if the silver price heads North with gold.

[BAPP]

JBmurc is the above silver target BAP notes relatively significant?

I've always followed HGD for the gold story. But the above target sounds interesting, especially if the silver price heads North with gold.

Hi Jess9,

Maybe the other interesting question is...

Who may want a piece of this asset... and how much is it worth to them to get a piece of the action?

2-3 million oz gold plus 9 million oz of silver converted to $$$ should be very enticing to some existing producers, especially if the costs of production are reasonably low.

Cheers
BP:)

[Jess9]

Time for the Directors to prove their calibre then. A good result would be more than a feather in their collective cap ; )

[Jess9]

Was Oceania Gold ruled out entirely? Their Macraes mine must be on its last legs. A move to Waihi for staff plus assets any possibility??

[BAPP]

Was Oceania Gold ruled out entirely? Their Macraes mine must be on its last legs. A move to Waihi for staff plus assets any possibility??

Hi Jess9,

It has been inferred that the interested parties are off-shore companies. I hope management wouldn't rule out anyone that was showing genuine interest.

Lets hope the directors show the shareholders that they deserve their increase in fees.:)

Good to see they still had $1.6 million in the bank at the end of the quarter. This should see them through the next 12 months just.:rolleyes:

They'll need to make sure the share price is exceeding 12-15 cents by Oct/Nov 2009, to ensure investors take up the 35 million options on offer and provide funding for a few more years.;)

Cheers
BP:)

[Jess9]

Thanks BAP. 2009 looks to be a coy maker or breaker. I expect a little more pressure downwards in the gold sector as a whole, until the gold price turns solidly. Till then, HGD may follow a little further. My guess is still early 2009 for a sustained turn in the gold price. When gold heads back through and sustains 1K+/oz, deal making will be a lot easier. Lets hope they keep that leverage in mind with any negotiations and conditions. The bottom line will improve very dramatically with gold at 1K+ per oz and Silver $20+. Also, extra $ from a significantly lower (and still falling kiwi) vs USD!! If the coy is an os player, I guess the kiwi is looking cheap too.

[Jess9]

Hi Jess9,

They'll need to make sure the share price is exceeding 12-15 cents by Oct/Nov 2009, to ensure investors take up the 35 million options on offer and provide funding for a few more years.;)

Cheers
BP:)

I'd be more than happy to pay up if the heads are that or more : )

[BigBob]

Thanks BAP. 2009 looks to be a coy maker or breaker.

2008 was supposed to be the company maker or breaker.... and if that is indeed still true, the company has truly been broken....!!

[Jess9]

I'll give them a pass for 2008, total financial market meltdown n all ; )

[JBmurc]

JBmurc is the above silver target BAP notes relatively significant?

I've always followed HGD for the gold story. But the above target sounds interesting, especially if the silver price heads North with gold.

Well at the current maketcap of only $4m AUD and the fact Silver & gold are getting set to make their next major BULL RUN -HGD could do very well if they can show the market proven resources at the higher level of their current est.
At this stage I know very little about HGD will be studying closer soon

[KentBrockman]

2008 was supposed to be the company maker or breaker.... .!!

For this company, the company maker is *always* the current year. E.g.: Last year it was 2007, now it is 2008, next year it will be 2009, and so forth.

It works every year :)

[skeet]

.013 today :( I guess everyone has lost faith in the company!

[tobo]

.013 today :( I guess everyone has lost faith in the company!

lots of other minows are going down and down and down too.

All a question of Heritage having enough cash to prove up resources (and more cash or JV to do BFS)

ToBo. Holding LT.

[brettdale]

No use selling now, I'm guessing their will be further drops, while some people want cash for Xmas.

[ScrappyO]

Wonder if these guys had a look at HGD permits.....Long Shot.


Romanian Visitors

A delegation of fifteen Romanian visitors spent three days in Waihi last week to carry out an assessment of mining operations within a community. The group was made up of twelve men who sit on the Rosia Montana Council and three representatives from Gabriel Resources, a mining company working on the permitting process for the Rosia Montana gold mining project in the mountainous region of western Romania.
Rosia Montana has been a mining town for around 2000 years - from the time of Caesar to the communist rule of Ceaucescu. Previous mining operations have left a very poor environmental legacy in the impoverished region. Gabriel Resources has the means to clean up the damage and demonstrate modern responsible mining practices.




http://www.marthamine.co.nz/29_10_08.htm

[ScrappyO]

Wonder if these guys had a look at HGD permits.....Long Shot.


Romanian Visitors

A delegation of fifteen Romanian visitors spent three days in Waihi last week to carry out an assessment of mining operations within a community. The group was made up of twelve men who sit on the Rosia Montana Council and three representatives from Gabriel Resources, a mining company working on the permitting process for the Rosia Montana gold mining project in the mountainous region of western Romania.
Rosia Montana has been a mining town for around 2000 years - from the time of Caesar to the communist rule of Ceaucescu. Previous mining operations have left a very poor environmental legacy in the impoverished region. Gabriel Resources has the means to clean up the damage and demonstrate modern responsible mining practices.




http://www.marthamine.co.nz/29_10_08.htm

Had a quick look at their website...They seem to have a few problems :eek:
Can that one.

[BAPP]

Heritage Gold Applies For Mining Permit at Talisman

Heritage Gold announced today it has applied for a mining permit on its Talisman and Dominion Knoll exploration permits at Karangahake, near Waihi.

Karangahake, about 12 kilometres west of the township of Waihi and Newmont’s Martha open pit, is a rich gold district that includes the historic Talisman Mine which produced over 4 million oz of bullion and is the second largest gold producer in the region.

“Our Scoping Study identified the mining potential of the area and provided a blueprint for developing the Talisman Mine to a commercial operation, so the application for a mining permit is timely”, Trent Lash, Chief Executive Officer said today.

“The company has evaluated various mining and treatment options, prepared a development plan starting from small scale mining and building to a significant operation over five years and completed an economic analysis of the project. The project economics look very favourable but are subject to the usual financial qualifications and are obviously impacted by the price of gold.

This application for a mining permit over our Talisman and Dominion Knoll tenements is a significant advance in lifting Heritage beyond being purely a junior explorer and I am delighted to have been associated with moving the company to this point”, said Lash.

Heritage Gold has embarked on a process of consultation with government agencies, the local community and Iwi (Maori groups) that have an interest in Mt Karangahake as a site of cultural significance.

The mining permit application was lodged with the Ministry of Economic Development, Crown Minerals Department today and it is expected that the review process and granting of the permit could take up to six months.
:)

[ScrappyO]

Heritage Gold Applies For Mining Permit at Talisman

Heritage Gold announced today it has applied for a mining permit on its Talisman and Dominion Knoll exploration permits at Karangahake, near Waihi.

Karangahake, about 12 kilometres west of the township of Waihi and Newmont’s Martha open pit, is a rich gold district that includes the historic Talisman Mine which produced over 4 million oz of bullion and is the second largest gold producer in the region.

“Our Scoping Study identified the mining potential of the area and provided a blueprint for developing the Talisman Mine to a commercial operation, so the application for a mining permit is timely”, Trent Lash, Chief Executive Officer said today.

“The company has evaluated various mining and treatment options, prepared a development plan starting from small scale mining and building to a significant operation over five years and completed an economic analysis of the project. The project economics look very favourable but are subject to the usual financial qualifications and are obviously impacted by the price of gold.

This application for a mining permit over our Talisman and Dominion Knoll tenements is a significant advance in lifting Heritage beyond being purely a junior explorer and I am delighted to have been associated with moving the company to this point”, said Lash.

Heritage Gold has embarked on a process of consultation with government agencies, the local community and Iwi (Maori groups) that have an interest in Mt Karangahake as a site of cultural significance.

The mining permit application was lodged with the Ministry of Economic Development, Crown Minerals Department today and it is expected that the review process and granting of the permit could take up to six months.
:)

Does anyone know if there will be any opposition to the mining permits being issued..Glad the greens dont have much say in government.
cheers
S

[Oiler]

Does anyone know if there will be any opposition to the mining permits being issued..Glad the greens dont have much say in government.
cheers
S

Scrappy

There will always be "opposition to mining" of any sort, however I suspect management have chosen there mining and processing plant options with all this in mind and gone for the path of least resistance. :D

I see the application for a mining permit as a big step forward for the company and look for great results from the Mystery vein.

This is the sort of news that we have been waiting for and am sure there is more to come ;)

Oiler

[croesus]

Few gone thru this morning........would be interesting to know more of what is planned.. if the application is granted..... any thoughts BAP ?

disc..... purchased more today.

cheers Croesus.