Heritage Gold...HGD

[Paint it Black]

I've just re-read the last announcment without the excitment which I had the first few times.

HGD had claimed that "The final conditions for the permit are expected to be settled within a week."

To me that's saying that HGD will have met any requirements that CM had put on the potential permit, but not that the permit would be granted "within a week".

If my understanding of this is correct, then there's no need to worry, as we should have a MP in our hands by Christmas, which was stated at the AGM.

Others thoughts?

One would hope it doesn't take Crown Minerals another 6 week's to type it up if it is true all the conditions are now settled. I thought the directors were being deliberately cautious at the AGM by agreeing to Xmas. My recollection was they initially indicated sometime in November but then agreed before Xmas following an 'least before Xmas' comment from the floor.

It would be very helpful, however, to have some confirmation or otherwise that all the conditions have been settled and it is now purely administrative paperwork. I think we are owed this advice by HGD asap following their raising the expectation that the settlement is expected this week otherwise the SP will drift downwards on the premise no news is bad news.

[skeet]

I would still be happy with an announcement by Xmas, the recent 'extra' attention is just a plus!! (added HTM to the HGDIve already got) IMHO I think it will be closer to xmas rather than within the week based on there wording.

[Jess9]

Going fwd, the back drop for goldies is getting better and better. Anything with resource will do very well as gold oz is adding dollars day by day...http://uk.news.yahoo.com/18/20091106/tbs-gold-price-hits-record-after-sri-lan-5268574.html

Expect goldies to do a big push to catch up with the gold price...but when??

[chippy52]

If the options were to be in the money, how would someone go about converting them ? Does the share registry forward the paperwork or do individuals need to make contact with someone to make this happen ?

[clarky]

so hgd didn't announce the permit the week after quarterly report...and a few investors have got cold feet and are getting out. hopefully news will surface soon enough to push the shareprice up towards 10c to make us some nice profit.

[Oiler]

I would still be happy with an announcement by Xmas, the recent 'extra' attention is just a plus!! (added HTM to the HGDIve already got) IMHO I think it will be closer to xmas rather than within the week based on there wording.

Skeet
We will get an announcement before Xmas ;)

In the meantime as Jess9 says, the price of gold continues to edge up and this can only help the HGD cause.

If it pulls back a little more then I will be back to buy more :cool:

[Aotea]

Not long now people...HGD just agreeing to the conditions and then allow time for the ink to dry. I expect to see the grant this week!

[Turboman]

http://www.ft.com/cms/s/0/5232dc6c-5ad4-11de-8c14-00144feabdc0.html?nclick_check=1

Machines with Midas touch swap chocolate for gold bars
By James Wilson in Frankfurt and Javier Blas in London

Published: June 17 2009 03:00 | Last updated: June 17 2009 03:00

Long attracted to the safety of solid gold, Germans will soon be able to sate their appetite for the yellow metal as easily as buying a chocolate bar after plans were announced yesterday to install gold vending machines in airports and railway stations across the country.

The venture by the TG-Gold-Super-Markt company, based near Stuttgart, aims to build on soaring retail interest in gold purchases after the financial crisis has shaken confidence in a range of other investments.

"German investors have always preferred to hold a lot of personal wealth in gold, for historical reasons. They have twice lost everything," said Thomas Geissler, the owner of the company, who hopes to install "Gold to go" machines in 500 locations in German-speaking countries this year.

"Gold is a good thing to have in your pocket in uncertain times."

A vending machine piloted in Frankfurt Airport yesterday appeared to be a converted version of the dispensers typically used to sell snacks. For €30 airport shoppers could buy a 1g wafer of gold, with a larger 10g bar priced yesterday at €245 and gold coins also on sale.

When the FT bought the cheapest product it was dispensed in an oblong metal box labelled "My Golden Treasure", with a certificate of authenticity signed by Mr Geissler but no receipt and the wrong change. Mr Geissler said he hoped to have a more advanced prototype available this month.

Gold prices from the machines - about 30 per cent higher than market prices for the cheapest product - will be updated every few minutes.

A camera on the machine monitoring transactions for money laundering controls, Mr Geissler said.

Interest in gold has soared during the financial crisis and Germany was last year the "star performer" in retail physical investment in gold - coins and bars - according to GFMS, the London-based precious metals consultancy. Retail demand reached an estimated 108 tonnes in 2008, up from 36 tonnes in 2007 and 28 tonnes in 2006.

Jens Willenbockel, an investment banker who saw the machine while passing through the airport, said he believed there could be a market. "Because of the crisis there is a lot of awareness of gold," he said. "It is also a great gift for children - for them getting gold is like a fairytale."
Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.

[GR8DAY]

hi there Aotea....who knows?? personally it doesn't concern me when the announcement is released to the market. As things are now panning out (excuse the pun) beautifully now for HGD their timing couldnt be much better. If GP consolidates around current levels then HGD just becomes more and more viable even if it wasn't involved directly in the extraction process.....highly unlikely but possible. They (we) now own an identified resource worth....... well, GOLD!

[Tanger]

The only issue around timing (and this may be a moot point) is in relation to the options that expire on the 20th. If there is no announcement prior to the options expiring, then it is almost certain that they won't be exercised. If there is some positive news prior to expiry date, then who knows where the market will re-rate HGD to. An extra $4-$5m in the bank could be very useful depending on what other deals the directors are currently doing.

[Jess9]

Wow. Gold well through $1,100/oz now. Goldies lagging, must have a catch-up soon. Faster and higher depending on where gold heads from here.

[GR8DAY]

.....yes brilliant news for HGD and other goldies. I think we might just be witnessing the beginnings of something big for gold (anyone agree?). I suspect more governments around the globe will soon also be joining this rush for GOLD. History will repeat as we see the price pushed higher and higher through lack of supply and high demand. I'm picking $1500 plus (and have so for some time) in the not too distant future and have put my hard earned money where my mouth is......through Heritage Gold.....better than money in the bank me thinks.

[Aotea]

.....yes brilliant news for HGD and other goldies. I think we might just be witnessing the beginnings of something big for gold (anyone agree?). I suspect more governments around the globe will soon also be joining this rush for GOLD. History will repeat as we see the price pushed higher and higher through lack of supply and high demand. I'm picking $1500 plus (and have so for some time) in the not too distant future and have put my hard earned money where my mouth is......through Heritage Gold.....better than money in the bank me thinks.

For sure..we are definately in a bullish gold market..and $1,500 is very likely IMHO also. Its a good time to be holding some goldies...Just putting it out there that Electra on the ASX are a leading minor player if your looking for other goldies to jump into.

Am holding EKM.

[Tanger]

Just been having a bit more of a look at the Crown Minerals website. Heritage Gold currently have exploration permits over Talisman and Dominon Knoll (the area that is subject to the current mining permit application). Per the information on the website, these exploration permits expire on 17 Jan 2010 and 12 June 2011. Therefore, HGD will have to get the mining permit granted pre Christmas (or shortly thereafter) otherwise they are without any rights to the land. Some news must be just around the corner.

[Aotea]

Just been having a bit more of a look at the Crown Minerals website. Heritage Gold currently have exploration permits over Talisman and Dominon Knoll (the area that is subject to the current mining permit application). Per the information on the website, these exploration permits expire on 17 Jan 2010 and 12 June 2011. Therefore, HGD will have to get the mining permit granted pre Christmas (or shortly thereafter) otherwise they are without any rights to the land. Some news must be just around the corner.

Correct Tanger...There is little doubt the MP wil be granted prior to Xmas as note in the quarterly report, if not in November. HGD will be doing its best to inflate the SP to hit the options as that capital would be a great help to the kickoff...

[Ponda]

A couple of nice trades going through this morning.
IMO an announcement, when it comes will be between 12.15 and 12.30 nz time. Based on when other announcements have been released.
Maybe, just maybe, someone is getting themselves set for this morning?
Or maybe just wishful thinking :-)

[Aotea]

Im expecting any announcement to be around 12:30-12:45 also, that is, once the ASX market is open.

IMO the permit has been written and these conditions just being agreed to by by HGD to make the most of the situation esp for securing JV buy-in. No major rework will be required. Therefore, it will be sooner than later, and HGD wil be pushing for those options..

[whatsup]

Movement today on some semi reasonable volumn.whatsup-somethingsup!!

[GR8DAY]

..you've gotta bin in to win..... pleased & comfortable to still be holding my full quota of HGD.

[Chippie]

Interesting article on short selling
http://www.sharechat.co.nz/article/07ee19d7/short-sellers-emerge-as-cue-energy-returns-to-nzx.html

"Short sellers bet on a decline in a stock, borrowing the securities to sell in the expectation they can buy them back more cheaply later and pocket the difference. The total value of short sales slumped 61% on the NZSX to $4.33 million in October from a month earlier, while volumes shrank 19% to 2.99 million shares.

Gold miner Heritage Gold NZ Ltd. had the most shares short sold with 545,000, up from 25,000 a month earlier, making up 9.7% of the total shares traded in the company, while Contact Energy Ltd., the country’s largest listed power company, had the most value sold short at $997,000, or 2.2% of its total monthly value traded."

[seaosh]

Airport vending machines selling gold!??!?

Surely this is the signal to start dumping gold?

[Ponda]

Chippie,
I don't think that it is a bad thing having short sellers.
I believe that people use whatever instruments that they want to make money on the sharemarket, whether they go long or short is their choice.
For HGD to have short sales of 545,000 would be understandable enough. We hadn't had the quarterly report out so it would have been a fair 'bet' to suggest that we may not be getting the permit with all of the uncertainty around.
They may be dissappointed with that choice now if they are still holding.
545,000 is not a lot for a month as we had 746,400 sales in one day.
Oh, well, those are just my Ponderings

[Jess9]

Could also be costly if they need to buy/cover on further rerating (assuming good news soon etc). Any short covering would of course only add to the velocity of any further price rise.

[GR8DAY]

Airport vending machines selling gold!??!?

Surely this is the signal to start dumping gold?

....how do you figure that one Seaosh?......sounds like a further push upwards for the commodity if the idea found support!! And as for the short selling HGD gosh I think that's a staggering (yea right) $20ks worth!!!!.....wot a joke, not even worth a mention.

[elZorro]

I think today looked like a case in point: hard to fight the bigger Aussie market.

[Jess9]

: )

Goldies must pick up to reflect new resource values and likelihood of continued increases...but mr market is yet to note this.

[Jess9]

For instance HGD resource has added 25 - 30 million dollars of value based on a spot rate movement over the last month. Lets say 10% of this for IGV...2.5 to 3 m then that should be added to cap value (excluding re-rate for pending permit).

Now if HGD actually holds 500K-1m oz in Talisman (which is what management thinks can be jorc'd up)...

[Jess9]

to many what if's of course. 2010 HGD will need to prove it self of get taken out.

[GR8DAY]

......agree Jess9 and now holding even tighter to my HGD. I firmly believe there are "punters" (and short sellers!) who will be kicking themselves from here to Karangahake and back in the short to medium term for having sold out. Ive seen it happen so many times (even experienced it myself first hand)......things will SUDDENLY fall into place and Share Price will respond accordingly. One serious buyer could (in fact shud) take out all the sellers in one hit for not a lot of money. SUDDENLY HGD are trading at 10c plus and upwards from there.

[Glendoonie]

So, who's game?

[meesham]

I picked up a few more at 3.9c a couple of days ago, whether I took advantage of someone's impatience or they sold to a sucker I'm not sure, but hopefully HGD aren't going to keep us waiting for much longer.

[Tanger]

Yes, surely can't be long now. Trading in the options closes on the 17th, so not much time if you think they are going to take off. And even then, you still need to get all the paperwork to the relevant people before the 20th (which as I discovered a few years ago can take some time). Looks like the options won't be in the money unless there is some dramatic action tomorrow or very early next week. Maybe the new JV partner doesn't want another 35m shares issued ha ha.

[Ripeka]

Have held these shares for 3 years and silent watcher of this thread. Patience is wearing a tad thin I have to say and this latest round of "mining permit is due any day" hopefulness just increases the agony lol. SP has been close to 10c before so even if some action is in the offing, whos to say SP will hold at that level anyway. On paper it looks good and yet we wait and wait for some action. Company feels like it needs a bomb under its backside or SOMETHING. Are we all missing something here?? Am i the biggest sucker in share history? LOL Aargh!

[Ponda]

Thats the first part that we are waiting for. Lets get the second part.
GO HGD

[stone small green]

only one signature left.

[Ponda]

And a share purchase plan to boot!!!
Fantastic!!!
Good luck to all holders and well done!!

Yes I am excited

[BAPP]

HGD
13/11/2009
ENTITLE

REL: 1521 HRS Heritage Gold NZ Limited

ENTITLE: HGD: Share Purchase Plan

13 November 2009

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

FOR PUBLIC RELEASE

Share Purchase Plan
Heritage Gold NZ Limited is pleased to announce that it is giving
shareholders the opportunity to participate in the company's capital raising
program in the form of a Share Purchase Programme (SPP).

The SPP will give shareholders resident in New Zealand or Australia (eligible
shareholders) on 18 November 2009 (the record date) the option of subscribing
for up to NZ$10,000, or Australian $8,000 worth of shares in lots of NZ$1,000
or Australian $800.

Heritage has decided that the SPP is not available to shareholders who are
resident in other countries so as to avoid breaching laws in the relevant
jurisdictions. Heritage, in making this decision, has taken into account the
small number of overseas shareholders not resident in New Zealand or
Australia.

The issue price will be announced on 19 November 2009 and will also be on the
Company's website www.heritagegold.co.nz
The issue price will be calculated by taking the volume weighted average
price of Heritage shares traded on the ASX over the 5 trading days prior to
the record date and discounting this price by a discount of 10%.

The New Zealand price will be calculated by converting the Australian price
using the Westpac bank exchange rate applicable at close of business on 18
November 2009.
Funds raised from the SPP will be utilised for future exploration and
development activities and for working capital.
The SPP documents will be mailed to shareholders on 19 November 2009.

The offer closes at 5pm New Zealand time on Thursday 10 December.

Sue Sangster
Company Secretary
HERITAGE GOLD NZ LIMITED

[skeet]

The best news I've heard in a long time.
I wonder what these "conditions" are and anyone got any ideas on the time frame on the signature?

[futurist]

The best news I've heard in a long time.
I wonder what these "conditions" are and anyone got any ideas on the time frame on the signature?

Just start to follow this thread recently and seems like in general people are quite bullish about HGD. Without the deep prior knowledge of this company as everybody else have, I wonder why the capital raising announcement is such good news? Isn't that similar to any right issues that should drive the SP down?

Also isn't this capital raising a predictable action from the company if the options are not going to be exercised?

Thanks :)

[meesham]

Buyers are slowly building on the NZX, but strangely there's been more movement with the SP on the ASX. I guess it's beer o'clock for a lot of Kiwis.

[Ponda]

Just start to follow this thread recently and seems like in general people are quite bullish about HGD. Without the deep prior knowledge of this company as everybody else have, I wonder why the capital raising announcement is such good news? Isn't that similar to any right issues that should drive the SP down?

Also isn't this capital raising a predictable action from the company if the options are not going to be exercised?

Thanks :)

Futurist,

I am happy on two fronts here.
1) That we have met the conditions for the permit and so are now only waiting for the sign off by the Minister, and
2) I feel that the issuing of a SPP suggests that the options may not be in the money (in reality that is not going to happen with only a couple of days to go). Having said that, HGD haven't given a price, only 10% discount to the average price prior to the SPP. By doing it that way there is no price that the market will have as an idea so as to keep the price around that figue. (hope that makes sense)

Those are just my Ponderings

[GR8DAY]

......gotta be the best news yet! they obviously wudnt be presenting this to the market without being totally confident of permits going thru as earlier indicated.....yea ha....BRILLIANT and timing cudnt be better re: firming GOLD PRICE.

[Tanger]

Good to see that the sellers are not coming down to meet the buyers on the NZX either. Based on info on the heritage gold website, there are approx 1,600 shareholders. Assuming a 50% take up of the SPP, that would raise $8m for the company (double what the rights were going to raise). Hmmm, maybe 50% take up is a bit rich then. But what the hell, they are doing something positive and this is a great step.

[miner]

So suck some more money out of you guys and dilute your shares is good news ?,hate to know what you think is bad,not to mention they still have to dig it up and process it,if they had a JV partner lined up with the $ to dig and process it why would they need this SPP,sounds like same old tricks.

LOTS of emotive I hope posts on this thread.

BUT BEST OF LUCK HOPE YOU ALL MAKE HEAPS OUT OF IT,time will tell.

Cheers
miner

[futurist]

Futurist,

I am happy on two fronts here.
1) That we have met the conditions for the permit and so are now only waiting for the sign off by the Minister, and
2) I feel that the issuing of a SPP suggests that the options may not be in the money (in reality that is not going to happen with only a couple of days to go). Having said that, HGD haven't given a price, only 10% discount to the average price prior to the SPP. By doing it that way there is no price that the market will have as an idea so as to keep the price around that figue. (hope that makes sense)

Those are just my Ponderings

Thanks Ponda :)

[whatsup]

Just start to follow this thread recently and seems like in general people are quite bullish about HGD. Without the deep prior knowledge of this company as everybody else have, I wonder why the capital raising announcement is such good news? Isn't that similar to any right issues that should drive the SP down?

Also isn't this capital raising a predictable action from the company if the options are not going to be exercised?

Thanks :)

I think that they are watching Tiger at the Aussie Open in Melbourne.

[Nevl]

Ok so buy 10000 shares and then hopefully get another 100000 thru the SPP getting a lower average entry price. I guess they are raising cash to develop the mine.

[Paint it Black]

Ok so buy 10000 shares and then hopefully get another 100000 thru the SPP getting a lower average entry price. I guess they are raising cash to develop the mine.

Exactly and it's great to see they are not going to sit around waiting for a JV partner to turn up. Go for it solo if need be and control your own destiny is the best way imo.

[Tanger]

So, if I read the SPP announcement correctly, then the record date is the 18th of November, and it is the average weighted shareprice (on the ASX) over the prior 5 working days, meaning that it will include today and yesterdays trades. Then need to see what happens between the price being set and 10 December. I would think this will keep the share price down until then though.

[ScrappyO]

So suck some more money out of you guys and dilute your shares is good news ?,hate to know what you think is bad,not to mention they still have to dig it up and process it,if they had a JV partner lined up with the $ to dig and process it why would they need this SPP,sounds like same old tricks.

LOTS of emotive I hope posts on this thread.

BUT BEST OF LUCK HOPE YOU ALL MAKE HEAPS OUT OF IT,time will tell.

Cheers
miner

A capital raising was inevitable. Yes they may have a jv to dig the gold out of the talisman but HGD still need capital for their other projects. Remember they are looking else where.
I see this as a perfect time for them to do this. We still need to find out what the money is going to be used for (it may not even be used for the Talisman Project). I see it as moving forward. Roll on next week.

[STRAT]

Exactly and it's great to see they are not going to sit around waiting for a JV partner to turn up. Go for it solo if need be and control your own destiny is the best way imo.Cant see these guys getting much done without a partner if 20 years of history
is anything to go by.
I would have thought with the permit in the bag so to speak that the potential partners waiting in the wings would have had their fountain pens at the ready.

The market is waiting on that going by todays action.

If there isnt a partner announced soon I can see it sliding back to around 2c

[JBmurc]

Cant see these guys getting much done without a partner if 20 years of history
is anything to go by.
I would have thought with the permit in the bag so to speak that the potential partners waiting in the wings would have had their fountain pens at the ready.

The market is waiting on that going by todays action.

If there isnt a partner announced soon I can see it sliding back to around 2c

Heritage Gold NZ Limited is pleased to announce that it is giving shareholders the opportunity to
participate in the company’s capital raising program in the form of a Share Purchase Programme
(SPP).
The SPP will give shareholders resident in New Zealand or Australia (eligible shareholders) on
18 November 2009 (the record date) the option of subscribing for up to NZ$10,000, or Australian
$8,000 worth of shares in lots of NZ$1,000 or Australian $800.

So if your a major holder you get no better rights in the raising or maybe it's more long the lines of we've got alot of spec small sub 10,000 value shareholders we'll raise the bunk of the money off them instead of hitting up the bigger holders who won't be so keen?(like the managerment. LOL)



Yeah I agree HGD maybe something on the NZX but comphared to some of the gold jnrs on the ASX like COV doesn't really look anything amazing short term -long term which it will be different story

• Grant of Mining Permit ??but first we need to raise cash so the HGD board can keep paying themselves wages
• Obtain resource consents
• Negotiate access with DOC
• Scope and commence mine development
• Continue resource definition drilling
• Ongoing surface exploration
• Commence production >>>2015? after massive dulation of current shareholders

[Paint it Black]

So, if I read the SPP announcement correctly, then the record date is the 18th of November, and it is the average weighted shareprice (on the ASX) over the prior 5 working days, meaning that it will include today and yesterdays trades. Then need to see what happens between the price being set and 10 December. I would think this will keep the share price down until then though.

As there has been very little volume over the past 2 days the average weighted price will depend a lot on the volume and momentum built up early next week. It's an intriguing equation with the 10% discount but limited to $10K on offer and with the subsequent dilution factor, which wont be known until 10 Dec. 4.0c to buy shares on Monday morning could look very cheap by Weds night and even cheaper on the 10 Dec especially with the Minister's signoff and hopefully the subsequent publicity? I agree with Tanger to certain degree that buyers with funds available will hang back especially on the Wednesday knowing they can get a 10% discount on the average over the 5 days.

[ScrappyO]

I can't understand those on this forum who think that a spp etc is such a negative thing. Their aren't many if any spec plays that don't need some sort of capital raising every few years. Even those that are producing an income still capital raise (CUE etc). Yes i would agree at the moment that it looks that major holders are not benefiting from the spp but the details have not yet been released so we can only speculate.

Also having money in the bank will make HGD more appealing.

[whatsup]

Now that HGD has a mining Licence how does one value this out fit, is it;;;


No of oz gold & silver in the ground, jorc etc X by current price less say 25% ( for volutivility ) divided by in ground value divided by number of shares on issue divided by 50%( opperating costs) divided by mine life divided by dividend payout ?

anything that Ive missed. Exchange rate etc.
,

[corporateraider]

I am a HGD holder and want the company to succeed but......

What is the current incentive to buy further shares at a miserable discount of 10%. A careful buyer can almost achieve such a discount by buying on the daily lows!

There have been no indications that this raising will move us any closer to production.

It does not inspire confidence that the company is not viewing a rights issue as appropriate. Maybe they have little confidence that it will be supported by the larger holders.

There is nothing about the SPP that will attract new shareholders to provide much needed capital. That is, what will potential investors see as driving the share price higher to cause a decision to invest. (An attached oiption may help)

As usual shareholders are working with an absence of information.

Either I am missing something, or there is a piece of information missing that will drive an uptake of this issue?

[ScrappyO]

Either I am missing something, or there is a piece of information missing that will drive an uptake of this issue?

I dont think your missing anything.

We just dont have all the facts.

[Paint it Black]

I can't understand those on this forum who think that a spp etc is such a negative thing. Their aren't many if any spec plays that don't need some sort of capital raising every few years. Even those that are producing an income still capital raise (CUE etc). Yes i would agree at the moment that it looks that major holders are not benefiting from the spp but the details have not yet been released so we can only speculate.

Also having money in the bank will make HGD more appealing.

Agree - having a permit but no cash in the bank to use it and to wait around for someone to work with, or optimistically perhaps to hope for a competitive bidding situation is not a good strategy. HGD now need to create multiple development options, including doing it with minimum outside assistance and building up their own team (advertise expression of interests among local contractors and consultants etc), to up the anti now with the potential partners who will begin to see their opportunity slipping away if they don't act - more funding is needed to do this which is exactly what HGD are now doing.

[BigBob]

Either I am missing something, or there is a piece of information missing that will drive an uptake of this issue?

I think it's the volutivility.... :)

[JBmurc]

Does anyone know have much money HGD have raised since they've been a listed explorer since 1987 it's bout time they get some production up n running

14 November 2008
The Executive Director
Australian Securities Exchange
Level 8 Exchange Plaza
2 The Esplanade
Perth, WA 6000
AUSTRALIA
PAGES: 1
FOR PUBLIC RELEASE
Heritage Gold Applies For Mining Permit at Talisman

[Aotea]

Agreed, there are a lot of hurdles to come, but I understand DoC has already signed off on this..

[ScrappyO]

Does anyone know have much money HGD have raised since they've been a listed explorer since 1987 it's bout time they get some production up n running

14 November 2008
The Executive Director
Australian Securities Exchange
Level 8 Exchange Plaza
2 The Esplanade
Perth, WA 6000
AUSTRALIA
PAGES: 1
FOR PUBLIC RELEASE
Heritage Gold Applies For Mining Permit at Talisman

This might help with money raised but you would have to work it out.
page 4 has a break down in issues of security over time.
http://www.heritagegold.co.nz/reportArchive/ASX%20Appendix%205b%20300909.pdf

[Doyle]

Quite scary when you see the number of share issues laid out like that. So the initial IPO was at 25cents. Results like that hardly inspire confidence and from the looks of things the bank account is nearly bare. Still who knows good times might be just round the corner.

Discl: Recently purchased some HGD and am prepared for a wild ride.

[Jess9]

If you hold nil and like the look of this, make sense to by a handful prior to record to get an option to buy 10K at a lower rate if they spike prior to 10 Dec. XRO case in point ; )

[Woody51]

BAP, where are you mate?

Can someone explain to me why they didn't hold back notification of the SPP in expectation of a lift in the share price following the permit announcement? Reckon there's more to all this than meets the eye.

[GR8DAY]

yes I suspect this will just be the beginning of positive announcements for HGD. 15 years of history is now well and truly behind us and a new and exciting future ahead. As i suggested earlier on, positive things will now start to unfold for HGD.....almost like starting with a fresh slate but with most of the hard work having been done. The SPP is positive with very little dilution taking place. The money is ours to progress the co. forward......this is the nature of mining.......spend money to make money (hopefully).On of the richest veins in the southern hemisphere is about to be re-worked with modern technology and I hope environmental respect. In light of all this there should be a should be a slow (i hope) and steady revaluing upwards of the Share Price.

[ScrappyO]

Another guess at SPP is they are not looking for a lot of money and are wanting all shareholders to benefit. They might only need 1.6mill to keep things going which would only be nz$1000 dollars for each shareholder?....that much say at 4c would only be 40million shares. Not a massive dilution. roll on next week.

[ScrappyO]

BAP, where are you mate?

.

Yes keeping quiet for someone who holds a few million. You haven't sold BAP :eek:

[ScrappyO]

Quite scary when you see the number of share issues laid out like that. So the initial IPO was at 25cents. Results like that hardly inspire confidence and from the looks of things the bank account is nearly bare. Still who knows good times might be just round the corner.

Discl: Recently purchased some HGD and am prepared for a wild ride.

Not really for a company that has been around 25yrs ( 1985 listing?)...maybe on the fact that its taken this long, but thats nz for you.

[JBmurc]

Not really for a company that has been around 25yrs ( 1985 listing?)...maybe on the fact that its taken this long, but thats nz for you.

A quick add up on investors funds burnt up by HGD management in the 25yrs rough count-$23,000,000NZD ongoing-well least management have be making something over the last 25yrs any hardcore original 25c HGD holders on here?
The one good thing is if HGD do at some time this decade acutally start to make a dollar that same managerment will reap massive bonuses an as they have been given millions of free shares over the 25yrs...
Still alls not bad they only have 287mill shares outstanding at this stage,an as we have seen buyers willing to buy in help the ongoing funding of HGD

Another Q did HGD 25yrs ago raise the funds to explore the same tenament as they have today?

[Oiler]

Yes keeping quiet for someone who holds a few million. You haven't sold BAP :eek:

BAP is still around ;) and I doubt that he will have sold.

For what it is worth I still hold my 1.8m and will be taking up the SPP. Many of my buys were done on the falling market over the last 12 months and now have an average of 3.13cents.

When the mining permit application was lodged a year ago we all thought the process would take "up to 6 months" :eek::eek: Twelve months has tried many HGD holders. Some would say we were crazy to hang onto a company going down the gurgler........... I guess the next week or so will tell.

Looking for the JV announcement and maybe an overseas acquisition.

This can only be the beginning of bigger things to come for HGD.

[BAPP]

BAP, where are you mate?

Can someone explain to me why they didn't hold back notification of the SPP in expectation of a lift in the share price following the permit announcement? Reckon there's more to all this than meets the eye.

Hi Woody51,

I'm still around.... but I have reduced my holding in HGD. (Still hold a couple of million.) Have not been impressed by recent events and the SPP indicates to me that any discussion with potential JV partners has not progressed much in 18 months.

Once again there is no key management person at the helm... no one dedicated to driving this company forward.

The company needs cash and we all understand that, but of course the November options are not likely to be converted and that is about the third time in recent history that a cash raising strategy has been wasted.

Will hold the remainder for long term and will watch with interest over the next month or so.

Cheers
BP:)

[Paint it Black]

Hi Woody51,

I'm still around.... but I have reduced my holding in HGD. (Still hold a couple of million.) Have not been impressed by recent events and the SPP indicates to me that any discussion with potential JV partners has not progressed much in 18 months.

Once again there is no key management person at the helm... no one dedicated to driving this company forward.

The company needs cash and we all understand that, but of course the November options are not likely to be converted and that is about the third time in recent history that a cash raising strategy has been wasted.

Will hold the remainder for long term and will watch with interest over the next month or so.

Cheers
BP:)

I'd suggest the main reason why the options didn't come off this time was the time taken by Crown Minerals to process the permit - the delay has cost HGD shareholders alot of money. Hopefully the resource consent can be processed far more efficiently and not get bogged down waiting for one signature or whatever for the greater good of NZ.

[Jess9]

Hi BAP. I've lost a pile in the past from 'lost cap raising opportunities' while waiting for development. One thing, let go of past angst, keep an open mind where this may be going now. IF there is to be a payoff soon, may as well be part of it. One thing I've learned is to not anticipate the market but follow clear market signals (in either direction). Lets see where this one runs from here.

Re cap raising, this one seems very fair. In past there have been private placements at large market discounts. Everyone get the choice this way. There may even be further placements at the same price (and no one can claim unfair!) Would however like to see some more detail on Talisman staged development.

[Jess9]

Gold closed on 1,118.50. 1,200 soon.

[Balance]

Gold closed on 1,118.50. 1,200 soon.

Make it $2500 and HGD will still tap shareholders for capital, promising gold and delivering dirt.

Mining permit, talk of numerous discussions with potential JV partners and they still tap shareholders for cash??????

[Jess9]

Make it $2500 and HGD will still tap shareholders for capital, promising gold and delivering dirt.

Mining permit, talk of numerous discussions with potential JV partners and they still tap shareholders for cash??????

Gold at $2,500 and a mining permit (for a 1M oz resource) = takeover territory : )

[JBmurc]

Gold at $2,500 and a mining permit (for a 1M oz resource) = takeover territory : )

Think thats about the most likely chance for HGD to make a profit in the next 5yrs going off their past 25yr history

[Stumpynuts]

I'm having good vibes with the mining application being given the all clear. Call me either extremely optimistic/narrow minded/gullible if you want to. The final decision with HGD's mining application now lies solely in the hands of Gerry Brownlee, the Economic Minister.
For those that haven't digged a little deeper, Crown Minerals is a subsidiary of the Ministry of Economic Development - of which Gerry Brownlee is in charge.
I thought the following links would hopefully make for some interesting reading/speculation/thought.

http://www.beehive.govt.nz/speech/opening+address+australasian+institute+mining+and+ metallurgy+2009

http://tvnz.co.nz/sunday-news/sunday-october-4-mineral-fever-3039553/video


In the presentation he makes to Aus Mining Institute it basically outlines how successful current projects such as Newmont's Waihi project has been and how mining and conservation of land can work together. Also if you can read between the lines you can sense that he desires to make amendments to legislation. IMO I reckon he will or at least he will begin to unstitch legislation.....?!?!?

On the Sunday program on Oct 4th, Gerry Brownlee again makes it blatantly obvious that he desires to dig in (no pun intended) to NZ's untapped mineral wealth. There was also and interview with one geologist (I think?) who were formerly opposed to the idea of mining in NZ, but have now had a change of heart and developed a sense of curiosity to see whats actually sitting under our feet first.

Hmmmm yeah, so to reiterate - Gerry Brownlee has the final say, Gerry Brownlee wants to mine in NZ, Gerry Brownlee needs to do some Zumba...

Stay Gold everybody!
Gerry Brownlee........ Zumba!......

[Crypto Crude]

LOL Zumba...
yeah, im sure he would enjoy that...:D
10c 20c 30c 40c 50c...
as long as this progresses, and we reduce risk at every stage, then we are going to get a good pay day for holding...
yep, 2.5k gold at One million of the baddest Ounces, and we are seriously going to get paid off...
:D
.^sc

[Stumpynuts]

LOL Zumba...
yeah, im sure he would enjoy that...:D^sc


Imagine how sexy he could be........ LOL!!!

[Aotea]

Obtaining Brownlies signature is a mere formality..I can assure you all, that he is pro-mining and we can be thankful the Nats are in power. Had Labour and the Greens been in, things may be differnt.
I also understand DoC has already signed off, much like the West Coast coal mines and the powelliphanta snails. They are directed from central government to approve, and sell their green souls for it...

Brownlies signature is the least of HGD's problems...

[jonu]

I'm happy to be corrected but I don't see how the spp rules out the options as most seem to be assuming. The spp price is set on 19th november, so I'm guessing the company is having a bet each way. If the options kick in they pick up a cash injection via 2 methods, if they don't they still have 1 method.

Discl; hold HGD but no options

[Paint it Black]

I'm happy to be corrected but I don't see how the spp rules out the options as most seem to be assuming. The spp price is set on 19th november, so I'm guessing the company is having a bet each way. If the options kick in they pick up a cash injection via 2 methods, if they don't they still have 1 method.

Discl; hold HGD but no options

I agree the options are still alive but there will need to be a spectacular SP rise this week to get over NZ10c to make them worthwhile uplifting by 5pm this Friday (ie cheque in the post Thursday). Highly unlikely though especially with the SPP having a 10% discount and based on a weighted average likely to dampen down any rapid SP rise.

[GR8DAY]

.......& there cud be a spectacular rise if no-one sold and took the long term view....simple science really.......no sellers and the price goes up!!

[Stumpynuts]

.......& there cud be a spectacular rise if no-one sold and took the long term view....simple science really.......no sellers and the price goes up!!


Long term view ----> Gerry Brownlee + Zumba

[whatsup]

Where will this close today and by the end of the week ( options time ? )

[Tanger]

It will be an interesting week. Still no real "external" press coverage for HGD though. My view is that for the price to move signifcantly this week there needs to be a bit of media coverage to get new holders in. Why would existing holders try to push the price up this week when they are already eligable to buy more shares at a 10% discount under the SPP. I still think the options are a long way off, but would love to be proved wrong.

[whatsup]

It will be an interesting week. Still no real "external" press coverage for HGD though. My view is that for the price to move signifcantly this week there needs to be a bit of media coverage to get new holders in. Why would existing holders try to push the price up this week when they are already eligable to buy more shares at a 10% discount under the SPP. I still think the options are a long way off, but would love to be proved wrong.

Ta...., the 10 % SPP is not a company maker, some investors wouldnt write out a cheque for a 10% discount,too much volatility.!!!

[JBmurc]

Ta...., the 10 % SPP is not a company maker, some investors wouldnt write out a cheque for a 10% discount,too much volatility.!!!

yeah the volume isn't great either I wouldn't buy a big stake in a cash hungry explorer than has the past history of HGD I really hope I'm wrong for the sharetraders involved an HGD can get a decent J.V partner or takeover..

[Jess9]

DB say you had to buy shares on Friday to get SPP.

[Stumpynuts]

I read somewhere earlier that someone was speculating that HGD was having meetings or discussions with what seemed to be possible potential asian JV Partners?

Did I read that here in this MB?!?!?

[jonu]

Remember the spp price is set on the ASX and already will have Thu/Fri trading prices factored in

[skeet]

Long term view ----> Gerry Brownlee + Zumba

http://img515.imageshack.us/img515/6964/gerry.jpg

:D

[GR8DAY]

stumpynuts.....I believe there is already a substantial Asian holder on the register....been there fairly long term. I cud be wrong and someone else might be able to clarify.....not sure either if they are a possible JV partner, I guess it's a possibility. Personally I believe the obvious JV partner is sitting right on their doorstep in the form of Newmont Mining (Martha Mine)....makes economic sense for both parties??

[skeet]

Small note on HGD, no note of the permit though. I guess that would follow once its signed off?
http://business.scoop.co.nz/2009/11/16/stocks-to-watch-heritage-gold-kathmandu-tpw/

[Jess9]

Gold surging on upwards again $1,125 now (high today of 1,128).

[Paint it Black]

Gold surging on upwards again $1,125 now (high today of 1,128).

Anything at 4c or under has to be a good buy at present - it's frustrating that Glass Earth Gold has picked up the Herald headlines today and in the weekend while nothing on HGD which has at least (or a 99% tick away) got a mining permit.

[Stumpynuts]

http://img515.imageshack.us/img515/6964/gerry.jpg

:D


Uggghhhhh!!!
That sent shivers down my spine!
Almost as bad as Richard Simmons...




Agreed - current shareprices are a bargain if current gold price trends continue, and if HGD does get the all clear for MP

[GR8DAY]

"AT THE PROBABLE STROKE OF A PEN HERITAGE GOLD'S INTRINSIC VALUE WILL BE MULTIPLIED BY A FACTOR OF WHOLE NUMBERS"......(to quote FOTC.........."think,think about it")

[Jess9]

Wow gold surging again now 1142/oz. Juniors must rally with soon : )

[elZorro]

Anything at 4c or under has to be a good buy at present - it's frustrating that Glass Earth Gold has picked up the Herald headlines today and in the weekend while nothing on HGD which has at least (or a 99% tick away) got a mining permit.

Hi PiB: maybe you need to have a bet each way :) Glass Earth doesn't do that much in the way of press releases looking from this side of the fence, but I do have a lot of trouble finding anything from HGD. Shareholders should chase this up, seems to work.

Anyway, HGD holders have nothing to worry about at the moment: at least a 100% return on investment in just the last month or so, if they topped up. Pity I got my timing wrong..still holding some HGD though.

[Paint it Black]

Hi PiB: maybe you need to have a bet each way :) Glass Earth doesn't do that much in the way of press releases looking from this side of the fence, but I do have a lot of trouble finding anything from HGD. Shareholders should chase this up, seems to work.

Anyway, HGD holders have nothing to worry about at the moment: at least a 100% return on investment in just the last month or so, if they topped up. Pity I got my timing wrong..still holding some HGD though.

No I'll stick with HGD with the MP in the back pocket and will keep topping up. I just wish HGD would get their PR moving - the approval of the MP is potentially huge for the Waihi region and good news exposure to bring in some new shareholders is what HGD needs right now.

[Cannibal]

The market agrees with you - GEL down 6% today on the back of good publicity and POG going through the roof...

[Crispy]

No I'll stick with HGD with the MP in the back pocket and will keep topping up. I just wish HGD would get their PR moving - the approval of the MP is potentially huge for the Waihi region and good news exposure to bring in some new shareholders is what HGD needs right now.

I think they will get the PR moving after the price for the SPP has been determined. When this pushes the SP up more of the current shareholders will be likely to participate in the SPP and HGD will raise more money.

[elZorro]

The market agrees with you - GEL down 6% today on the back of good publicity and POG going through the roof...

Hi Cannibal, you forget we have TSX comparisons here, NZ still showing them the lead most days. At present the MCAP for GEL and HGD are level pegging..

but if I was a betting person (and I am), the expected return from GEL's multitude of prospects and EPs, MPAs, Muirs, Rise&Shine, Ophir, Newmont JV etc..would stack up easily. Tell you what, lets look again at the MCAPs in a week or two when GEL has finished their batch of press releases they've promised...;)

[lager]

Well, with GOLD price above US$1K, HGD has not really shown to have move much. I agree they need more publicity but better sooner than later.
IMHO, HGD need to catch the wave why it is strong.

[blackcap]

Well, with GOLD price above US$1K, HGD has not really shown to have move much. I agree they need more publicity but better sooner than later.
IMHO, HGD need to catch the wave why it is strong.

Why the fascination with publicity. Id rather invest in a company that did the hard yards behind the scenes and aimed for a shareholder return, than a coy that spouts hot air....

[Stumpynuts]

Why the fascination with publicity. Id rather invest in a company that did the hard yards behind the scenes and aimed for a shareholder return, than a coy that spouts hot air....



Couldn't agree more!
It's the *'work hard, play hard'* mentality that should be utilised, and one which I believe should be utilised a lot more.

[GR8DAY]

.yes personally Im very happy with the way the directors are quietly forging ahead with things......not just hot air but finally a bit of action. Im sure the SP will play catch up soon.....every day of increasing GPrices and HGD just becomes worth that much more on paper. If the SP hangs around for too long at these low levels it will soon (if not already) catch the eye of one of the big players. We now own a resource much sort after around the globe.

[Ekrub]

Well the directors are certainly not forging ahead with keeping their website up to date.
Perhaps some of the ten grand they'll be asking of me could be used to tweak that up a bit, I mean, look at this from what they write about Talisman!

"During 2007/2008 Heritage plans to embark on a comprehensive underground exploration drilling and metallurgical sampling programme......etc....etc"

[Paint it Black]

Well the directors are certainly not forging ahead with keeping their website up to date.
Perhaps some of the ten grand they'll be asking of me could be used to tweak that up a bit, I mean, look at this from what they write about Talisman!

"During 2007/2008 Heritage plans to embark on a comprehensive underground exploration drilling and metallurgical sampling programme......etc....etc"

Yes not very encouraging to someone new to company with $10K available weighing up where to invest in the market. The big opportunity is obviously when Gerry signs off and its all official. Hopefully a spectacular press release is already prepared to go with the SPP offer. With the SPP offer heading towards 3.6c unless something dramatic happens tomorrow the SP is likely now to linger around this amount until 10 Dec unless some of the bigger players come in to improve their position.

[Paint it Black]

Yes not very encouraging to someone new to company with $10K available weighing up where to invest in the market. The big opportunity is obviously when Gerry signs off and its all official. Hopefully a spectacular press release is already prepared to go with the SPP offer. With the SPP offer heading towards 3.6c unless something dramatic happens tomorrow the SP is likely now to linger around this amount until 10 Dec unless some of the bigger players come in to improve their position.
With no momentum generated this week the SPP will be set very low which is disappointing. No doubt with the low turnover existing shareholders thought why buy now if I can get 10% knocked off and keep my options open and money in the bank until the 10 Dec. The SP will now also fall to the SPP price and will only lift when existing shareholders want to invest more than $10K in HGD or new shareholders can be attracted to buy in by putting the company's position on the radar. I trust the directors have Gerry's ph no!

[Landyman]

Oh dear PIB, I brought in last week at 4.2 cents, hell buddy, not the feedback I want to hear, honest though:(, give it time buddy, someone got some happy thoughts:)

Hopefully wont drop to the SPP, even if it does, might be enough news in print to get things moving. PGC prime example, dropped somewhere close to the rights issue, then has accelerated. Shame the HGD funds arent of the same magnitude.

Key for me is when HGD come out talking about getting the stuff out of the ground. Timeframes and a visible strategy should do wonders - I hope.

[Paint it Black]

Hopefully wont drop to the SPP, even if it does, might be enough news in print to get things moving. PGC prime example, dropped somewhere close to the rights issue, then has accelerated. Shame the HGD funds arent of the same magnitude.

Key for me is when HGD come out talking about getting the stuff out of the ground. Timeframes and a visible strategy should do wonders - I hope.

Won't people sell if above the SPP in order to buy back at an assured profit?

Hopefully it's a short term situation though as you say like PGC. Agree with you in the longer term its the strategy of getting it out of the ground and efficiently handling the RC application - hopefully they get or have already on board a serious Resource Consent planner to facilitate this in the quickest possible time.

[GR8DAY]

Hi croesus, have you been following HGD for awhile? I was looking at some 2004 public releases and noted the following that maybe of particular interest now (in light with gold being alot higher than $380USD)...

------------------------------------------
29 July 2004
Market Information Services Section
New Zealand Stock Exchange
Level 9
ASB Bank Tower
2 Hunter Street
WELLINGTON
BY EMAIL PAGES: 1
FOR PUBLIC RELEASE

Tennent, Isokangas Pty Ltd (“TIP”), consulting mining engineers, has reported to Heritage on a conceptual mining study at the Talisman mine at Karangahake near Waihi, New Zealand.

The conceptual study was based on mining 150,000 tonnes of ore annually from underground operations to produce 50,000 oz of gold equivalent (gold+silver) per year, initially on a toll treatment basis. The study found “no fatal flaws” in the mining concept, subject to Heritage identifying the gold (+silver) resource needed to support such an operation.

The initial capital cost indicated by TIP is approximately NZ$23.5M.

Heritage would expect to fund the majority of this through an appropriate loan and/or by contracting the underground mining development and operations.

The indicative annual gross margin is approximately NZ$11.5 – 12.0M at a gold price of US$380/oz, based on the TIP study.
--------------------------------------------------

I might crack the above through a spreadsheet to rough model the impact (of current gold price) on above projected earnings and possible share price, I'll post if worthy of discussion ; )

JESS.....hope you dont mind me quoting you! Compare the returns now at almost $1150 an ounce!! Three times the returns now and Share Price about half??!!! Heritage has a bank vault worth tens of millions now. Dont tell anyone else but Im buying. 1c either way is a joke.

[Cannibal]

REL: 1145 HRS Heritage Gold NZ Limited
GENERAL: HGD: Heritage Gold SPP - Disclosure Doc & Issue Price
19 November 2009
NZX Limited
FOR PUBLIC RELEASE
Share Purchase Plan - Disclosure Document and Issue Price
The Share Purchase Plan (SPP) is being mailed to shareholders today and is
attached.
Heritage Gold NZ Limited (HGD) advises the issue price for shares under its
SPP is Australian 2.8 cents and New Zealand 3.5 cents.

Current ASX price is 2.8 cents - NZX is 3.8 cents...

[Balance]

JESS.....hope you dont mind me quoting you! Compare the returns now at almost $1150 an ounce!! Three times the returns now and Share Price about half??!!! Heritage has a bank vault worth tens of millions now. Dont tell anyone else but Im buying. 1c either way is a joke.

And the directors and insiders are so confident that they are scooping up any shares available?

What a joke.

[Jess9]

Its a punt balance at this stage. There is alot of information out there, alot repeated on this thread depending how far you read back. Coy with these kind of permits can multi bag quickly. BAP made a good point in that to achieve this it often also needs a great leader.

[ScrappyO]

Am i correct that the maximum number of shares that will be issued is 86,310,990 thru the spp? .

[elZorro]

Looks like a sensible approach, Yankiwi. You'll have some spare cash you could use on more GEL if any sign of a cheap price :)
But that's quite a dilution on the HGD share, if all are purchased. Already factored in I trust.

Regards.

[Balance]

Its a punt balance at this stage. There is alot of information out there, alot repeated on this thread depending how far you read back. Coy with these kind of permits can multi bag quickly. BAP made a good point in that to achieve this it often also needs a great leader.

Watching miners over the years - sp rockets and insiders buy like frenzied piranhas if there's real potential.

Here, insiders have done zippo. And directors are rubbing their hands with glee at getting more money into the kitty to travel first class between NZ, Australia and HK.

[Jess9]

thanks Balance. A fair point to also consider, and watch for.

[STRAT]

This part of the announcement seems paramount to me


Joint venture discussions for the development of the Karangahake project (including Talisman) are not being rushed as we are keen to find a strong, compatible technical and financial partner. We are currently in discussions with potential Chinese partners and look forward to updating shareholders in the New Year as more information becomes available.

[Paint it Black]

Am i correct that the maximum number of shares that will be issued is 86,310,990 thru the spp? .

Yes that's my understanding reading the Appendix 7 document. It is strange this number was declared prior to the SPP value being known as I would have thought the total number of shares would be the number of shareholders x $10K / the SPP price. I take it then that should there be a large take up of the plan some scaling back from the $10K limit for NZers will occur.

[miner]

Its a punt balance at this stage. There is alot of information out there, alot repeated on this thread depending how far you read back. Coy with these kind of permits can multi bag quickly. BAP made a good point in that to achieve this it often also needs a great leader.

As apposed to one that leads shareholders down the garden path ?.

Cheers
Miner

[whatsup]

One has to remember ---- taken from the 2009 annual report.

JORC Resource--Gold 205,000 oz @ US $1150 /oz approx.
Silver 800,000 oz @US $18.50/oz approx.
Identified potential between 827,000 oz and 3,300,000 oz of Gold.
" " " 2,470,000 oz and 9,880,000 oz Silver.


This resource has to have some value to some one apart from the current share holders either as a JV partner, as a take over opportunity or as a toll sharing miner.

[Cannibal]

HGD
20/11/2009
GENERAL

REL: 1314 HRS Heritage Gold NZ Limited

GENERAL: HGD: Northland Prospecting Permits

20 November 2009

Limited Company Relations
New Zealand Stock Exchange
Level 2, NZX Centre
11 Cable Street
Wellington
FOR PUBLIC RELEASE
Northland Prospecting Permits
Heritage Gold is pleased to announce encouraging sampling results from its three prospecting permits in Northland, (Tangihua PP 39-318, Hikurangi PP 39-317 and Waikaire PP 39-346).

Northland Minerals Ltd, a subsidiary of Heritage Gold, is exploring principally for two known styles of mineralisation in its Northland permits. These include epithermal precious metal deposits similar to those at Karangahake in the Waihi Gold District, Coromandel and volcanogenic base metal-gold deposits, which are interpreted to be ancient analogues of the currently forming undersea black-smoker deposits observed off the east coast of New Zealand.

The Company has applied to Crown Minerals to extend the permits to enable
completion of a regional airborne geophysical survey in conjunction with
local councils and other explorers.

Tangihua (PP 39-318) and Hikurangi (PP 39-317) permits

Highly anomalous gold (Au), silver (Ag) and copper (Cu) results were returned
from sampling around areas of known mineralisation on both the Tangihua and
Hikurangi permits.

These permits cover extensive Tangihua Complex rocks which form part of the
Cretaceous-aged Northland Allocthon. The Tangihua Complex represents ancient
seafloor volcanic rocks and sediments that were thrust-faulted over the much
older greywacke rocks of the region. Small volcanogenic copper-gold deposits
are known to occur throughout this rock mass. Larger analogues of these are
the focus of Northland Minerals' exploration.

One of the keys to discovering a major new volcanogenic copper-gold deposit
is to understand the characteristics of known deposits and use these for
exploration targeting.

With the application of modern exploration methods such as aeromagnetics,
low-level detection soil geochemistry and electromagnetic techniques, the
Company believes a major new volcanogenic copper-gold discovery is possible.

Table 1 presents results from the recent sampling programme. The high values
need to be put into context. The mullock and float samples were selected for
their obvious mineralisation and are not necessarily representative of the
entire mineralised body. The channel samples were of rock exposed at the
surface and were taken to be more representative of the mineralisation
currently exposed.

At this stage it is premature to speculate on the dimensions of the
mineralisation, which have traditionally been regarded as small.

Waikaire (PP 39-346) permit

The Waikaire permit hosts predominantly epithermal Au-Ag mineralisation.

Sampling and prospecting work by Northland Minerals examined an area of the
Waikaire River valley, where previous explorers had located evidence of
epithermal mineralisation.

The sampling and mapping programme located a number of mineralised quartz
vein structures outcropping in streams and on ridges that had not been
previously documented.

Sample results showed gold values ranging from 0.02g/t Au to 0.31g/t Au, and
silver ranged from 0.1g/t to 7.5g/t. While gold and silver values were only
moderately elevated, arsenic (As) and antimony (Sb) were locally strongly
anomalous (peak highs of 0.28% As and 118ppm Sb). These vein structures share
similarities with the Coromandel gold deposits.

Permit Au g/t Ag g/t Cu % Sample Type
Tangihua 21.68 48.6 47.41 Mullock sample
Tangihua 17.2 28.2 11.41 Mullock sample
Tangihua 0.18 0.6 2.49 Channel Sample (1m)
Tangihua 0.06 0.5 2.87 Channel Sample (1m)
Tangihua 0.04 0.4 7.30 Channel Sample (0.30m)
Tangihua 0.04 0.4 5.18 Channel Sample (0.25m)
Tangihua 0.02 0.5 3.03 Channel Sample (0.40m)
Tangihua 0.02 0.3 2.90 Channel Sample (0.25m)
Hikurangi 0.17 2.5 7.94 Float Sample
Hikurangi 0.08 1.6 1.61 Channel Sample (1m)
Hikurangi 0.04 0.8 1.41 Channel Sample (1m)
Hikurangi 0.03 0.8 0.63 Channel Sample (1m)
Hikurangi 0.02 0.8 1.24 Channel Sample (1m)
Hikurangi 0.02 0.8 0.37 Channel Sample (1m)
Hikurangi 0.02 0.2 0.31 Channel Sample (1m)
Hikurangi 0.02 1.6 2.65 Channel Sample (1m)
Hikurangi 0.02 0.5 1.28 Channel Sample (1m)
Hikurangi 0.02 0.5 0.47 Channel Sample (1m)
Hikurangi 0.02 0.7 0.02 Chip Sample
Hikurangi 0.02 0.3 0.01 Float Sample

Table 1: Geochemical sampling results from Tangihua and Hikurangi Prospecting
Permits

Note: Assay Methods and Detection Limits (SGS Laboratory, Waihi)

All gold assays were analysed by Fire Assay with an AAS finish except for the 21.68 g/t value which was analysed via aqua regia digest with an ICP-MS finish, due to its high Cu content. AAS has a lower detection limit of 0.02 g/t Au and ICP-MS has a detection limit of 0.05 g/t Au.

Silver was analysed via aqua regia digest with an ICP-MS finish. The lower
detection limit is 0.1 g/t Ag.

Copper was analysed via aqua regia digest with an ICP-MS finish. The lower
detection limit is 2 ppm Cu (0.0002%). SGS laboratory cannot certify the
accuracy of Cu values greater than 5000 ppm (0.5 %).

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.

[Crispy]

Yes that's my understanding reading the Appendix 7 document. It is strange this number was declared prior to the SPP value being known as I would have thought the total number of shares would be the number of shareholders x $10K / the SPP price. I take it then that should there be a large take up of the plan some scaling back from the $10K limit for NZers will occur.

The number of shares being issued 86.3M divided by the total number of shares on issue according to the NZX website of 287.7M gives 0.299.

There may be a regulation which only allows them to issue a max of 30% of the shares on issue through a SPP.

This would explain how they got the number of shares they were issuing before the SPP price was determined. They just calculated 30% of the total shares they had on offer.

[Cannibal]

Heritage Gold NZ Limited (HGD) advises the issue price for shares under its SPP is Australian 2.8 cents and New Zealand 3.5 cents.

Current prices are 2.8 and 3.5 cents...

[Paint it Black]

Heritage Gold NZ Limited (HGD) advises the issue price for shares under its SPP is Australian 2.8 cents and New Zealand 3.5 cents.

Current prices are 2.8 and 3.5 cents...

Yep that's what market forces do. Hopefully they won't stay at the SPP level for long and we start getting new players involved. The Northland news is encouraging!

[Paint it Black]

The number of shares being issued 86.3M divided by the total number of shares on issue according to the NZX website of 287.7M gives 0.299.

There may be a regulation which only allows them to issue a max of 30% of the shares on issue through a SPP.

This would explain how they got the number of shares they were issuing before the SPP price was determined. They just calculated 30% of the total shares they had on offer.

Sounds like a very plausible reason - cheers.

[steve fleming]

Permit Au g/t Ag g/t Cu % Sample Type
Tangihua 21.68 48.6 47.41 Mullock sample



47% copper is pretty crazy...even if it is just a soil sample.

HGD needs to get some follow up drills done up there pretty quickly.

Though, things take so long with HGD it will probably be a couple of years before they drill it.

If HGD had actually undertaken some decent drilling on Talisman (rather than just a couple of holes) over the past few years, and increased their Au resource from 200k oz (which really is not that big) to something in excess of 500k, they would be in a far far better position to negotiate a JV

[GR8DAY]

....yep all predictable stuff PIBlack. Also as indicated in an earlier contribution I think we shud now see a more regular release of positive info' for HGD shareholders to lap up and hopefully go towards firming up a lagging SP. So far so good.....been a great couple of weeks with more to come I suspect.

[ScrappyO]

47% copper is pretty crazy...even if it is just a soil sample.

HGD needs to get some follow up drills done up there pretty quickly.

Though, things take so long with HGD it will probably be a couple of years before they drill it.

If HGD had actually undertaken some decent drilling on Talisman (rather than just a couple of holes) over the past few years, and increased their Au resource from 200k oz (which really is not that big) to something in excess of 500k, they would be in a far far better position to negotiate a JV

Agree steve,
I know they had issues at one stage with access and getting a drill in. I would have liked to have seen an increase in the JORC resource. 2005 comes to mind when they first received the 200k estimate.

[blackcap]

glad I sold some at 5 cents. Will buy back at 3..... :)

Still too many gamblers toying with this stock methinks

[Woody51]

I still stupidly hold all my shares in HGD, at a big loss. This company is a heart-breaker.

They are the worst company I have ever supported. Over promise, never deliver. Lazy, rudderless, appalling public relations, a seeming plaything for larger holders.

The way they undersold the mining approval and immediately announced the SSP typifies HGD. They just weren't interested in kicking up the price.

I challenge you all. Why would one be investing in HGD now when you could put that money into another small hopeful, such as BCN? They have just put out another shareholder update - so easy research.

There is light years between the way the BCN's of this world operate - and consider their shareholders - and HGD.

I won't be contributing anymore money to HGD; too many terrific opportunities in the gold sector elsewhere.

There's no doubt a few on here that have made money on HGD trading the margins, but when committed supporters like BAP have substantially sold down their holdings, there's a deep message.

And why do I talk down a stock I hold? Because they don't deserve any better. And why don't I bail? Well, I have hung on for so long they are rusted to draw bottom. Recently hope revived, but nothing that has transpired in the last few weeks gives me any confidence that the corner has been turned. Pending a miracle, the end of a tortured relationship is nigh.

[GR8DAY]

..you shud be happy then Woody. Sorry to hear you've lost money on this one......but then again if you've still got script rusted to the drawer there must still be hope (for you).....I still believe you'll be prooved wrong. With GP at historic highs the CEO cud get out there with a shovel and be making us money! Im hanging in there with more confidence than ever.......maybe just bad timing for some of you who got in on the ground floor? ( I have been waiting for a few years also) Hopefully upwards from here.

[ScrappyO]

Being a long term shareholder i am still surprised that they did a spp. Having free options would surely still have been the way to go.
I will only be taking up my entitlement if the sp is considerably higher then what it is now.
I don't want to add anymore shares until we get a timetable of where hgd is going.

Also any one have any views on whether they think the sp will move on the permit being granted. I'm going to say i think we have seen the movement. :(

[steve fleming]

I still stupidly hold all my shares in HGD, at a big loss. This company is a heart-breaker.

They are the worst company I have ever supported. Over promise, never deliver. Lazy, rudderless, appalling public relations, a seeming plaything for larger holders.

The way they undersold the mining approval and immediately announced the SSP typifies HGD. They just weren't interested in kicking up the price.

I challenge you all. Why would one be investing in HGD now when you could put that money into another small hopeful, such as BCN? They have just put out another shareholder update - so easy research.

There is light years between the way the BCN's of this world operate - and consider their shareholders - and HGD.


It is really tough being a junior explorer.

You are forever having to raise capital; drilling is expensive and slow going; your share price is at the mercy of traders, the market is very unforgiving, and your average shareholder generally lacks a meaningful understanding of what is happening and is frustrated.

BCN really is'nt that much better than HGD. BCN have spent 3 years drilling Barlee, yet still don't have a JORC; their recent rights issue at 2.2c p*ssed off a lot of shareholders; their major shareholder has been selling, and there was the absolute debacle in relation to their Kyrgyzstan project.

However, compared to HGD, at least BCN are actually doing something though.

The fact HGD haven't increased their resource over the last 4 years, and made the most of the gold price increase, is really bizarre.

[JBmurc]

Being a long term shareholder i am still surprised that they did a spp. Having free options would surely still have been the way to go.
I will only be taking up my entitlement if the sp is considerably higher then what it is now.
I don't want to add anymore shares until we get a timetable of where hgd is going.

Also any one have any views on whether they think the sp will move on the permit being granted. I'm going to say i think we have seen the movement. :(

yeah I think there'll be alot thinking the same with a large amount of small investors with their 2k-6k holdings not to keen on forking out 10k to go into a high risk explorer

I'll be happy to sit on the sidelines on HGD could well be sold down to the 2c range again without much fuss as it's volume traded is very small a pure spec

[Paint it Black]

Being a long term shareholder i am still surprised that they did a spp. Having free options would surely still have been the way to go.
I will only be taking up my entitlement if the sp is considerably higher then what it is now.
I don't want to add anymore shares until we get a timetable of where hgd is going.

Also any one have any views on whether they think the sp will move on the permit being granted. I'm going to say i think we have seen the movement. :(

Hi Scrappy - I'll say it will move quickly up to 4.7c if Gerry finds his pen on Monday and they get a decent press release into NZ and Australian papers. The larger institutions only react to certainities. The longer it takes for the signoff however the lower this number will drift. I'm also factoring in the encouraging Northland announcement which nobody has yet commented on in any depth. Isn't this good news?

[corporateraider]

Hi Scrappy - I'll say it will move quickly up to 4.7c if Gerry finds his pen on Monday and they get a decent press release into NZ and Australian papers. The larger institutions only react to certainities. The longer it takes for the signoff however the lower this number will drift. I'm also factoring in the encouraging Northland announcement which nobody has yet commented on in any depth. Isn't this good news?

I suggest that they will need to get it on all the TV channels, the major papers and the Greymouth Times to have any chance of moving it!

And that's not the answer to moving it for more than a couple of days. Everyone strongly suspects that the sign off will happen and so it is built into the current share price one suspects.

[BAPP]

..you shud be happy then Woody. Sorry to hear you've lost money on this one......but then again if you've still got script rusted to the drawer there must still be hope (for you).....I still believe you'll be prooved wrong. With GP at historic highs the CEO cud get out there with a shovel and be making us money! Im hanging in there with more confidence than ever.......maybe just bad timing for some of you who got in on the ground floor? ( I have been waiting for a few years also) Hopefully upwards from here.


Hi GR8DAY,

Unfortunately there is no CEO officially employed by HGD at this point in time, but even if there was (and he was willing to dig)the main requirement once the permit is officially granted, is a processing plant to extract the gold from the ore. (Newmont have one close by:)

It doesn't matter how much ore they dig out the Talisman .. it is worthless unless it can be processed and that is why HDG ultimately need a JV partner or lots more capital to build their own. Sure you can stock pile it.. but you are paying for extraction without any return.

The permit at Talisman gives HGD leverage to ensure that they control this asset for the next 25 years. This may ultimately result in Newmont reconsidering their options at Waihi or it may entice another mid-tier producer.... but what ever happens it will take at least another 6-12 months of negotiations in which time HGD will need the cash to maintain their other exploration permits in the Waihi area and in Northland.

Remember if HGD can not provide valid evidence of discovery within each exploration area they could potentially loss their right to continue exploration of that area.

As the company 'burns' around $250k per quarter, they need the funds as drilling and other associated costs can add up quickly... hence the current share issue.

Some food for thought.

Cheers
BP:)

PS: Nice to see Woody51 posting again.. good on ya mate:)

[Woody51]

Steve Fleming

Steve, new management team in at BCN and they're very experienced operators. They'd be the first to agree they could have done the SSP better. All the script is now placed.

All things being equal, they'll be producing and flowing cash long before HGD puts all the (not inconsiderable) pegs in place; if they ever do. Best little gold punt going around IMO.

Hi BAP. Agree with all your sentiments. HGD's recently expressed desire to explore opportunities overseas, really made me laugh. Their forays into Australia on the trail of uranium and cobalt were lamentable. And in NZ they've basically done nothing on the ground for years.

They may have a grand plan that we're not privy to, but their track record would suggest that's highly unlikely. It's OK talking the talk, but walking the walk is quite a different thing.

Another Gin anyone?

[Balance]

Steve Fleming

Steve, new management team in at BCN and they're very experienced operators. They'd be the first to agree they could have done the SSP better. All the script is now placed.

All things being equal, they'll be producing and flowing cash long before HGD puts all the (not inconsiderable) pegs in place; if they ever do. Best little gold punt going around IMO.

Hi BAP. Agree with all your sentiments. HGD's recently expressed desire to explore opportunities overseas, really made me laugh. Their forays into Australia on the trail of uranium and cobalt were lamentable. And in NZ they've basically done nothing on the ground for years.

They may have a grand plan that we're not privy to, but their track record would suggest that's highly unlikely. It's OK talking the talk, but walking the walk is quite a different thing.

Another Gin anyone?

Be careful - you are wrecking the dreams of many a gold bug here!

When the directors start buying shares or putting their money into HGD, I will.

Til then, first class travel to Sydney and HK, anyone?

[GR8DAY]

......maybe that's the first director surfacing today Balance ....chasing half mill@3.5.....he aint getting mine but Im sure there's a shortsighted punter out there who will supply them and then live to regret it (in my opinion). I believe the processing issue is already sorted with Newmont.......pretty obvious isnt it if you know the lie of the land (literally and metaphorically speaking). I think things are going to fall into place now far sooner than some are thinking. See if Im right??

[Balance]

......maybe that's the first director surfacing today Balance ....chasing half mill@3.5.....he aint getting mine but Im sure there's a shortsighted punter out there who will supply them and then live to regret it (in my opinion). I believe the processing issue is already sorted with Newmont.......pretty obvious isnt it if you know the lie of the land (literally and metaphorically speaking). I think things are going to fall into place now far sooner than some are thinking. See if Im right??

Wow! all $15,000 worth!

Things have been falling in place for the directors for a long time.

First class tickets, anyone?

[miner]

So pretty obviously you would know where newmont is going to put the new road in to get the ore to there plant,not to mention what there going to do with the mega tons of overburden then Gr8day ???.

Cheers
Miner

[miner]

Good try but it's already destined to become a lake.

Cheers
miner

[GR8DAY]

.......yep buts that's when they finally pull outa there bro

[miner]

?????

Cheers
miner

[GR8DAY]

......and oh great guru miner, didnt see your other funny post. Dont you know the place is laced already with under ground tunnels.....so the roading is in place already, not a problem. Na Im only kidding bro...actually they're gonna helicopter it across the fence. Newmont has access to some ginormous choppers.......they use them primarly for ferrying fat directors from AGM to AGM. LOL

[Crypto Crude]

many negative posts recently...
well, HGD came up from 2cents just recently...
and now its around 4cents...

Yes this is a hate stock...
so naturally alot more tree shaking will happen...
a stock that is on path in what is looking like the best path Heritage has been on in decades...
I hold for talisman...
the stocks up 100% in the last while...
what more do you haters want???
:cool:
.^sc

[miner]

......and oh great guru miner, didnt see your other funny post. Dont you know the place is laced already with under ground tunnels.....so the roading is in place already, not a problem. Na Im only kidding bro...actually they're gonna helicopter it across the fence. Newmont has access to some ginormous choppers.......they use them primarly for ferrying fat directors from AGM to AGM. LOL

Ta Gr8day that post just confirms what I thought,as in you have gold fever and are in the land of hope,for other people that don't have the fever,part of the deal for the Martha mine was to turn it into a lake for the town when they have dug all the goodies out,and even if they wanted to fill it with talisman overburden there is no way in heaven or hell they would be able to truck it there anyway.

Stop and have a think about where the mine is and the logistics of doing anything with it due to the geography of the area (side of a mountain in a gorge),so rather than try and be smart Gr8day have a think about that little problem,like when someone said they will have a plant at the mine,LOVE to know where ???,Love to know where your imaginary tunnels are also Gr8day ???.

Again tho BEST OF LUCK AND HOPE YOU ALL MAKE A KILLING.

P.S shrewdy NOTHING to do with hate just don't have the fever like some on here.

[JBmurc]

many negative posts recently...
well, HGD came up from 2cents just recently...
and now its around 4cents...

Yes this is a hate stock...
so naturally alot more tree shaking will happen...
a stock that is on path in what is looking like the best path Heritage has been on in decades...
I hold for talisman...
the stocks up 100% in the last while...
what more do you haters want???
:cool:
.^sc


-volume ,I haven't keep a record of HGD HTM total volume from the 2c to 4c rise but it wasn't much which as we know means it also can fall just as fast..I hope for your sake SC it all turns out right an HGD does what I don't believe it will produce gold within the next 4yrs..PEN will be producing 3m lbs of U308 before then

personal I'd rather here both negatives an postives on shares I hold because it gives me more balance view of the pro or cons of holding one over another I'm in this trade to make money not fall in love with a company dosn't matter how much money it has made me I'll sell the lot without a second thought if I feel it's taking the wrong direction or the fundenmentals have changed

there's what 1400+ companies on the ASX

[GR8DAY]

...U sound like your'e actually running a fever mate......bin a burnt have we??!! Take heart dear guru miner it's only money mate, there's a hell of a lot of worse things out there that cud happened.......IT CUD HAVE HAPPENED TO ME!!!!
Do you really think Heritage is now gonna be stumped cos no-one thought about where they're actually gonna process the ore??.......come on miner surely you can do better than that. Talisman runs straight up into the hills that is only a stones throw from Martha mine. The crap land around there is good for nothing else than carting truck loads of gold laced ore to Martha's processing plant.....easy. Newmont will build the road and supply the trucks. Obvious too.

[miner]

Bit hard to get burnt if you have never held HGD,(trade FX these days anyway),and never said anyone would be stumped just that it isn't as clear cut as you and other "holders" like to make out.

But then for some attack is often the best form of defence .

Cheers
Miner

[Paint it Black]

Bit hard to get burnt if you have never held HGD,(trade FX these days anyway),and never said anyone would be stumped just that it isn't as clear cut as you and other "holders" like to make out.

But then for some attack is often the best form of defence .

Cheers
Miner

Not just holding but buying especially at the SPP level. The RC and maybe the JV (but this is not essential) are the next priorities. At the AGM they suggested the RC could proceed along a non notified route which would take a year off the process (ie 12 months not 24 months for approval)- evidently DOC are already happy with what is proposed. It would be very interesting to know these details but if DOC are happy then it follows the extraction methodology has already been decided and discussed with them.

My minor concern is the possible JV tie up with Chinese interests - there is still a huge cultural difference between NZ/Aust and China and negotiations could be very tortuous. Wouldn't it be great to do all this 'in house' so that the rewards stay in NZ?

[GR8DAY]

......very insightful then minor oops I mean Miner for one who has never held the stock. With such knowledge I too hope to be a "guru" one day when I grow up. Accumulate.

[elZorro]

My humble suggestion is to also have a look at OGC, went up 4% or more yesterday, will probably do so again today, these guys have gold and plenty of it -right now - selling it.

And for some 'safer spec' excitement, could you go past GEL imho?

[miner]

......very insightful then minor oops I mean Miner for one who has never held the stock. With such knowledge I too hope to be a "guru" one day when I grow up. Accumulate.

Put your toys back in your cot and get over it Gr8day as not everyone is going to agree with your rosy picture of HGD,interesting concept that you have to own the share to know anything about it,may not be such a good idea to have so many eggs in one basket ?,cool down and remember that I hope all HGD holders make HEAPS out of it.

Anyway leave you to it for now,GOOD LUCK.

Cheers
Miner

[Balance]

Put your toys back in your cot and get over it Gr8day as not everyone is going to agree with your rosy picture of HGD,interesting concept that you have to own the share to know anything about it,may not be such a good idea to have so many eggs in one basket ?,cool down and remember that I hope all HGD holders make HEAPS out of it.

Anyway leave you to it for now,GOOD LUCK.

Cheers
Miner

Leave him be, miner.

The world needs generation after generation of those-who-know-better to 'teach' old timers how money is made.

As in the Tui ad "Yeah Right".

[GR8DAY]

......chill out old boys (probably younger than me) and enjoy the ride. Lifes a just a hoot....hope you both make some serious buks along the way also!!

[Year of the Tiger]

......chill out old boys (probably younger than me) and enjoy the ride. Lifes a just a hoot....hope you both make some serious buks along the way also!!

Now, stop that arguing you boys or it's off to the naughty step!!!!!!!!!

YOTT

[GR8DAY]

.....sorry YOTT. Im just a naughty boy playing with my "wind-up" toys.......promise not to do it again Miss. (or Mista)

[stone small green]

Just let the truth speak for themselves.

Ssg

[Jess9]

Great to see ya'll made up ; )

Agree with above...facts remain unchanged (from the emotional ride)HGD is a small cap of $7M, 205K resource, 1M oz gold target potential, mining permit essentially granted and with gold heading into 1,200 / oz soon !!

Compare price to RNG - a broadly similar stock BUT with a JV partner (Chinese) on board, earning 50% interest for cap dev spend, AND note its market cap... today of $64M.

Also as Shrewdy notes, 100% gain from only a few weeks back : ) No stock goes straight up, watch the trend.

Great call on OGC (comment made on previous page). Gains from mid's will flow to juniors next.

[corran]

No stock goes straight up, watch the trend.


I've watched (and held) HGD for a few years now and have seen a number of occasions where the price has gone straight up and then resumed it's down trend.

There was no real basis for the previous spikes and, aside from the increase in the price of gold, not much basis for this last spike. There's positive talk about the permit but from what I've read there's no positive news on a JV, no new resource, no new inspirational CEO.

This last spike has come at a perfect time to enable the coffers to be filled through the SPP, but unless we get some tangible progress soon the volume will peter out and we'll be back around 2c.

I would love to see some real, consistent progress and I'm keeping some cash ready to buy in if this happens, however I'm not holding my breath.

[STRAT]

2.5c for HTM is quite a sticking point.

Will be interesting to see if this previous line of resistance will become support.
Long term it is still in a down trend that has lasted over 15 years

[Jess9]

Hi Strat. Totally agree 2.5c AUD is the support mark (and on ASX). Weakness has always been on that side in the past.

[GR8DAY]

.......perhaps that's bcos we havnt had any decent and positive news for about 15 yrs? I notice also that there was often resistance at around the 10 &12c mark in the past....possibly also on lack of the positives like we are "hearing" now. Has anyone out there got a million or two for sale at 2.5c? If so please phone me with your offer.....gotta confess I never realized HGD has been as high as 45c......current price times 12. No wonder there's a few anti-HGDrs out there......ouch!!

[Paint it Black]

Hi Strat. Totally agree 2.5c AUD is the support mark (and on ASX). Weakness has always been on that side in the past.

Agree they have plenty of other mining companies to invest in. HTM won't move until the permit is signed off and it hits their radar screens. IMO it's now becoming very crucial this happens quickly otherwise the SPP will become a waste of time. I trust the directors are chasing this up with Gerry before he heads off on vacation?

[kanejones]

Topped up recently and have been waiting in anticipation for the permit news. When does Gerry go on holiday?

Cheers.

[Ponda]

Kanejones,

I just sent a cheeky email to try and find out.
If he responds I will let you know.

[kanejones]

Hi Ponda.

Dad always told me "if you never ask, you will never find out".

I look forward to his reply.

[GR8DAY]

......he's a politician......permanent holiday! Get a real job Gerry. Good on you KJ for topping up......another clever believer..........I will VERY surprised if we EVER have the chance of buying again around these levels. Im liking the idea of 45-50c now.....I think that will be my new target price.......you've just gotta be positive in these difficult economic times. OMG look at OGC!!!

[STRAT]

Hi Strat. Totally agree 2.5c AUD is the support mark (and on ASX). Weakness has always been on that side in the past.
Hi Jess,
If you mean weakness is more prevalent on the ASX I might have to disagree. Ignoring daily noise they are pretty much on par.

Green is HTM and blue is HGD
HGD is a yahoo download ( its crap ) with better data Im pretty sure they would be even closer

[GR8DAY]

......pretty picture Strat. Id be dropping the pik right there m8......Im sure I can see terakihi at the 4.5c mark......but I cud be wrong, they might be snapper. If you keep heading in the same direction (chances are) you will climb out of that trough and fowl ground fairly quickly. Before you know it you'll be back on level sand (less snags there also).....the 45-50 cent mark is always gud fishing around these parts. Timing (of the tides) is very important also. At least you just got a bite. Tight lines m8!

[Jess9]

Well caught ; )

[Aotea]

Kanejones,

I just sent a cheeky email to try and find out.
If he responds I will let you know.

Word on the street from the beehive is that Crown Minerals has delegated authority to sign this off and that no application has gone to Gerry for approval. Im told it doesnt even need to go to him??
I think someone needs to ring Crown Minerals or sue Sangster at HGD to fnd out what the story is.....

[Balance]

Gold goes to another record price and HGD sp heads south.

When the directors and management buy, I will buy.

Meanwhile, keep sending them your money. First class tickets to HK, anyone?

Why HK, you ask?

If you don't know, you should not even be in HGD!

[STRAT]

......pretty picture Strat. Id be dropping the pik right there m8......Im sure I can see terakihi at the 4.5c mark......but I cud be wrong, they might be snapper. If you keep heading in the same direction (chances are) you will climb out of that trough and fowl ground fairly quickly. Before you know it you'll be back on level sand (less snags there also).....the 45-50 cent mark is always gud fishing around these parts. Timing (of the tides) is very important also. At least you just got a bite. Tight lines m8!I know yall are hoping for a .............

[STRAT]

So I truely hope it aint just a Snapper and an old..............

[Aotea]

Love your work Strat...I will settle for the first option!

[GR8DAY]

.....yea nice piece of art work Strat.....gr8 skills m8. 1st option please.

[Crypto Crude]

Balance,
your waiting on management to buy...
LOL...

The big gun has been buying (upside umop), what more do you want?
:cool:
.^sc

[Crispy]

Nice one Strat. We know that after the permit is signed off they will have access to a whole mine of the good stuff. It is just a matter of them being able to get it out of the ground profitably.

[stone small green]

I want to ask...why hk

still curious about where would the "buyer/buyers" come from even if the permit is signed.

[Paint it Black]

Word on the street from the beehive is that Crown Minerals has delegated authority to sign this off and that no application has gone to Gerry for approval. Im told it doesnt even need to go to him??
I think someone needs to ring Crown Minerals or sue Sangster at HGD to fnd out what the story is.....

I'll try and find out where it's at tomorrow - it will be interesting to see whether I can get anything definite from a govt department!

[Aotea]

I'll try and find out where it's at tomorrow - it will be interesting to see whether I can get anything definite from a govt department!

Hi PIB, likewise. I have emailed Sue Sangster at HGD and also Matt Brown at Crown Minerals- head of the permitting team. He is working on an application of mine and is a really good appraochable guy. In fact they all seem to be at CM. I emailed the PA for Gerry, Natalie and another bloke rung me at work. We exchanged a few emails including the HGD announcement about awaiting the Ministers signoff. He said he understood that CM had delegated authority, which is what I thought. He said that Gerry had not recd any paperwork on HGD re a MP signoff...
Would be keen to see what you can dig up...cheers

[corporateraider]

Aotea,
This is incredible -surely this is information that the company should have provided to the market.
I thought that the company had turned the corner with the announcement of the mining permit. I still suspect that they have, only they are going back from whence they came.

[Aotea]

Aotea,
This is incredible -surely this is information that the company should have provided to the market.
I thought that the company had turned the corner with the announcement of the mining permit. I still suspect that they have, only they are going back from whence they came.

Agreed. I can only tell you what I know. I expect to hear from Sue at HGD by email tomorrow, and Matt Brown at CM. I have the emails from Gerry's officer staffer who has told me this, and I can make two assumptions. He is either correct or not. That said, he did say the minister has no paperwork on HGD. He sounded surprised and rung me at work to dicuss as he sounded confused. Tomorrow will shed light on the subject Im sure. Have tried to ring CM several times but go directly to the permitting managers answerphone. There is a real potential the wires are crossed somewhere by others, but Im only passing on what I have been told and have email evidence indicating that. That said, I dont want to state the bloke from MED's name in the event it was a balls-up and he is a mere underling who has it all wrong. Matt and Sues responces tomorrow should clairify...Personally, I doubt that HGD management would spin something so significant, with an obvious papertrail or inappropriate....

[Paint it Black]

Agreed. I can only tell you what I know. I expect to hear from Sue at HGD by email tomorrow, and Matt Brown at CM. I have the emails from Gerry's officer staffer who has told me this, and I can make two assumptions. He is either correct or not. That said, he did say the minister has no paperwork on HGD. He sounded surprised and rung me at work to dicuss as he sounded confused. Tomorrow will shed light on the subject Im sure. Have tried to ring CM several times but go directly to the permitting managers answerphone. There is a real potential the wires are crossed somewhere by others, but Im only passing on what I have been told and have email evidence indicating that. That said, I dont want to state the bloke from MED's name in the event it was a balls-up and he is a mere underling who has it all wrong. Matt and Sues responces tomorrow should clairify...Personally, I doubt that HGD management would spin something so significant, with an obvious papertrail or inappropriate....

Excellent work Aotea - here we have been waiting for Gerry's sign off and either it's lost somewhere between CM and his desk or sitting on someone else's desk at CM. I'm afraid even now it doesn't make HGD's management look very good. It's been almost a fortnight now since the announcement and one would have hoped HGD would have been onto Gerry's PA 10 days ago asking about progress rather than you discussing with a surprised and confused staffer who knows nothing about it. It makes you wonder how HGD is managing the JV negotiation. Anyway I'll see if I can get anywhere tomorrow as well. Cheers .

[GR8DAY]

......didnt they indicate sometime January as the sign-off date? Meantime our gold resource is growing by multiples now on a daily basis (hows 300% in a couple of years) as GP goes thru the roof......but I believe this cud just be the early stages of bigger things to come... "GOLD FEVER" HAS NOW REPLACED SWINE FLU AS THE CURRENT GLOBAL "PAN"DEMIC.......

[Paint it Black]

......didnt they indicate sometime January as the sign-off date? Meantime our gold resource is growing by multiples now on a daily basis (hows 300% in a couple of years) as GP goes thru the roof......but I believe this cud just be the early stages of bigger things to come... "GOLD FEVER" HAS NOW REPLACED SWINE FLU AS THE CURRENT GLOBAL "PAN"DEMIC.......

I've just had a good conversation with the geologist on the project from Crown Minerals. He told me the signoff is with the Group Manager of Crown Minerals who has the delegated authority to GRANT unless he decides a briefing is necessary with Gerry. He said that a programme of work to carry out the mining has been generally agreed between HGD and Crown Minerals. He believed the MP should be granted by next Friday which would involve a simple keying of GRANTED by the Group Manager on their web page to replace SUBMITTED. HGD would receive a letter after this confirming it. I expressed to him the importance of obtaining the MP well before the 10/12/09 but its now out of his hands. Maybe I'll try the Group Manager on Monday? Anything from your side Aotea?

[meesham]

PIB and Aotea, you've been showing more initiative than HGD management, it's appreciated.

[Aotea]

Nothing tangible to report sorry folks...The Group Manager Matt Brown was away. No word from Sue at HGD though. Its becoming clear that the announce was horsesh*t though I can only assume..they should be a little more informed as to the process in my mind...my mining company will be run better if anyone wants to invest in a winner??? :)

[Aotea]

Morning folks...just been speaking to a certain top bloke at Crown Minerals. Have got to say they are very pragmatic and good blokes to deal with. He has said that the annoncement from HGD is fair and correct, as it isnt the Minister to sign off, but someone under his delagted authority, for him. He said that the MP application is being treated under priority and I expect it to be addressed late this week....

SP is 3.3..cheap as I reckon!

[Ponda]

Aotea,
Thanks for all the effort you are going to in order to let us SH's know something.
I just have to be a little bit more patient, but when we are sooo close after such a long time it gets a tad nerve wracking.

Thanks again, Aotea.

[ScrappyO]

Morning folks...just been speaking to a certain top bloke at Crown Minerals. Have got to say they are very pragmatic and good blokes to deal with. He has said that the annoncement from HGD is fair and correct, as it isnt the Minister to sign off, but someone under his delagted authority, for him. He said that the MP application is being treated under priority and I expect it to be addressed late this week....

SP is 3.3..cheap as I reckon!

Thanks Aotea.

...and yes sp is cheap especially when there is a known jorc resource worth us$240,260,000 in gold and us$14,640,000 in silver at todays prices.

[Tanger]

It is crucial for the company to get the share price back up, as they need cash in from the SPP. That now means they need new shareholders to start buying into the company to push the price back up, as existing shareholders are unlikely to be buying at the moment.

The next 10 days are kind of critical to the company I would have thought.

[Balance]

Thanks Aotea.

...and yes sp is cheap especially when there is a known jorc resource worth us$240,260,000 in gold and us$14,640,000 in silver at todays prices.

Yes indeed. There zillions to be made, right?

When the directors actually start using some of their own money, HGD will be worth looking at. Long term players and investors in the mining industry know what to watch out for.

[Ponda]

Maybe you can help me with this one, Balance.
Isn't there a law under some enactment (and crikey, we have enough of them in NZ) that goes along the lines that 'no Director is able to purchase shares in the company within two weeks of a price sensitive announcement'?
I honestly don't know where I read that but I am sure that I did.
I have tried to do the Google thing but have been unable to find anything.
If that is the case then the Directors aren't allowed to buy as we must be within a 'potential' two week window at any point of time with a few potential announcements due out.

Just my Ponderings and would love clarification

[Balance]

There are windows in which directors can buy shares. There are restrictive periods during which directors cannot buy shares.

There is nothing to stop the directors buying HGD (as far as I can assess the situation) now that all pertinent announcements have been made.

Hi, some cheap shares available at 3.4c. Lower than spp sp of 3.5c.

[Landyman]

There are windows in which directors can buy shares. There are restrictive periods during which directors cannot buy shares.

There is nothing to stop the directors buying HGD (as far as I can assess the situation) now that all pertinent announcements have been made.

Hi, some cheap shares available at 3.4c. Lower than spp sp of 3.5c.

Im hoping (and thats probably about all it is), that the directors are in a period of not being able to trade with a possible JV negotiation near finalisation.

Really will take some media attention to get new buyers in and SP up. If stays below 3.5, then HGD could be up the creek soon.

[ScrappyO]

Yes indeed. There zillions to be made, right?

When the directors actually start using some of their own money, HGD will be worth looking at. Long term players and investors in the mining industry know what to watch out for.

I agree with you about the directors not buying...but even they new that they might not get a mining permit for the talisman. But with that nearly in the bag and a jv in the pipe line, things might change. Not even the best companies out there do directors buy their own company shares. They always end up getting them free thru their remuneration.

[ScrappyO]

There is nothing to stop the directors buying HGD (as far as I can assess the situation) now that all pertinent announcements have been made.



They haven't got the mining permit yet.

[Aotea]

They haven't got the mining permit yet.

I will put a pint on it that the permit is announced either Friday afternoon or Monday...

[Glendoonie]

...just been speaking to a certain top bloke at Crown Minerals. Have got to say they are very pragmatic and good blokes to deal with. He said that the MP application is being treated under priority and I expect it to be addressed late this week....
I except the top bloke at Crown Minerals is indeed good and
pragmatic, but to say the MP application is being treated under priority and expected to be addressed late this week is giving the Ministy of Economic Development way more credit than they deaerve. I have worked for the MED and been privvy to many of their SNAFUs.

I wouldn't hold my breath for any announcement from them.

[Ponda]

Thanks for that Balance.
There is a few good comments out there at the moment, i.e. JV could be waiting on MP and therefore could be in the two week window. We just don't know what has been going on behind the scenes.
Buyers are starting to build again.
POG bouncing all over the place.

All exciting stuff.

[GR8DAY]

......yes POG bouncing a little but if it consolidates in the current range of say 1050 to 1200 we have a nice little earner on our hands! Fingers crossed.......t's getting crossed shortly too, me hopes.

[Paint it Black]

I will put a pint on it that the permit is announced either Friday afternoon or Monday...

I think your pint is pretty safe Aotea from what I heard from the project geologist (initials EH) on Friday. It seems you are getting the same story from someone different is that right? I hope it's Friday not Monday though so it can hit the weekend papers before SPP buyers need to get their cheques in the post for the Thursday cutoff.

[stone small green]

for some reason, I've always thought it's going to be on Thursday.

Prefer to wait and see.

[Aotea]

I think your pint is pretty safe Aotea from what I heard from the project geologist (initials EH) on Friday. It seems you are getting the same story from someone different is that right? I hope it's Friday not Monday though so it can hit the weekend papers before SPP buyers need to get their cheques in the post for the Thursday cutoff.

Not EH, but someone who should have a good idea of whats going on there...

[Cannibal]

Novice question here...

Why are people buying at 3.7 cents on the NZX when they can buy at 2.5 on the ASX?

[stone small green]

2.5c is in aussie dollar.

[Ayrton]

at current rate A 2.5c is only around 3.2 NZ c though

[GR8DAY]

.......sounds like a bargain then on both sides of the ditch!!

[Paint it Black]

at current rate A 2.5c is only around 3.2 NZ c though

Well spotted - grab it fast!

[Landyman]

2.5c is in aussie dollar.

Which at 0.8 would make 3.1??

[whatsup]

Which at 0.8 would make 3.1??

Always has been at that pricing, Aussie punters never have paid the full N Z price and dont expect a catch up in price unless there is a take over which IMHO will be doubtful---- holder on both exchanges.

[blackcap]

Novice question here...

Why are people buying at 3.7 cents on the NZX when they can buy at 2.5 on the ASX?

Buy on Australian exchange and have the shares transferred to NZ... Sell in NZ and hey bingo a profit. Can be done with large amounts and can be quite profitable.... If you know what you are doing :)

[Paint it Black]

Buy on Australian exchange and have the shares transferred to NZ... Sell in NZ and hey bingo a profit. Can be done with large amounts and can be quite profitable.... If you know what you are doing :)

Status is now at recommended - moved from submitted.

[ScrappyO]

Status is now at recommended - moved from submitted.

http://data.crownminerals.govt.nz/PermitWebMaps/StaticReport.aspx?application=51326

Talk about dragging it out.....Wish they would just issue it... :D

[GR8DAY]

......champagne's in the fridge&almost on ice.

[Tanger]

So I guess what the permit will provide is some media that will hopefully generate interest in the company. By having the SPP out there, my guess is that they don't have a JV partner and therefore will be trying to go it alone, or at least prov up a bigger JORC resource. It seems the permit is now a "when" as opposed to an "if", so will be interesting to see if the share price moves much upon issue. Fingers crossed, as it will be crucial to getting a good uptake for the SPP.

[Paint it Black]

So I guess what the permit will provide is some media that will hopefully generate interest in the company. By having the SPP out there, my guess is that they don't have a JV partner and therefore will be trying to go it alone, or at least prov up a bigger JORC resource. It seems the permit is now a "when" as opposed to an "if", so will be interesting to see if the share price moves much upon issue. Fingers crossed, as it will be crucial to getting a good uptake for the SPP.

Yip - talk about split second timing if it comes off. We need it in the papers during the weekend to enable an SP rise on Monday to convince shareholders to happily part with $10K on Tuesday. Then we get a CEO, an RC (non notified hopefully) while accelerating the JV negotiations and then start mining.

[stone small green]

i'm just suspect where the buyers come from, coz all of us are in.

is the media really that effective?

[GR8DAY]

.......might just happen PIB. Things are falling into place as prophesied!........now just let me check my crystal balls for SP come this time next week..........ah, oh dear, bugger and blast........ bought the cheap model, only goes up to 12!! Better go look for the check book.

[Aotea]

.......might just happen PIB. Things are falling into place as prophesied!........now just let me check my crystal balls for SP come this time next week..........ah, oh dear, bugger and blast........ bought the cheap model, only goes up to 12!! Better go look for the check book.

I'd settle for 12!
Also, I would be happy to help them obtain RC as well. non-notified would be possible given I understand DoC approval has already been obtained. The RMA Amandment Act has certainly made it easier to get things like this through a lot easier...Personally, Im not worried about the consenting phase, assuming the maoris can be satisfied. A chunk of cash usually fixes that though!

[Paint it Black]

I'd settle for 12!
Also, I would be happy to help them obtain RC as well. non-notified would be possible given I understand DoC approval has already been obtained. The RMA Amandment Act has certainly made it easier to get things like this through a lot easier...Personally, Im not worried about the consenting phase, assuming the maoris can be satisfied. A chunk of cash usually fixes that though!

Or a few bars of gold. It's going to be good for everyone in the area - let's make it happen through an NZ company.

[Aotea]

Sounds like a dilema to me...ever heard the saying "go for gold..?"

[whatsup]

[QUOTE=Yankiwi;284240]I wish at this point I had the full 10K to invest in HGD.

On the other hand reallity is saying I'll be emptying the money box and searching for any other funds I can come up with before early next week to buy all I can in the SPP. With a bit of luck I'll be able to take up about 1/2 of my allotment.

I may have visit a few ATM's (after having a few beers for courage :rolleyes:) with my pair of credit cards in an attempt to increase my purchasing power :eek:

I think both NZO & GEL are about to take off, so I can't quite justify selling them off. Maybe I should sell my TEL, but I will be receiving my DRP shares this Friday which would leave me sitting with only a very small handful that wouldn't be worth selling after broker fees.

What to do, what to do? :confused:


Yank If you are able to take the cheque into the HGD office and tell Sue what the story is she im sure she will delay presenting it so that you can take advantage of the SPP, if you cant go in your self phone her and Im sure that they will help out, good luck you deserve all the luck in being a share holder.
~

[GR8DAY]

......Ive been asleep and woken to find the GP continuing in one direction. I cud be wrong (occasionally happens) but Im reading yet another new high has been reached @ $1214!! Is this correct?
Can someone do their sums and tell us what OUR resource is now worth??

Im liking this "go to sleep and wake up richer" thing.....got a feeling it's gonna keep going for a long time yet.

[GR8DAY]

ps....Yankiwi m8 just go buy the damn HGD shares bro......your'e gonna have a fun ride no matter what happens.......I will bet you anything you like HGD will outperform Tel(yawn) by a country mile over the next 6-12mnths.

[Aotea]

ps....Yankiwi m8 just go buy the damn HGD shares bro......your'e gonna have a fun ride no matter what happens.......I will bet you anything you like HGD will outperform Tel(yawn) by a country mile over the next 6-12mnths.

I agree GR8DAY and I have to say, I love your enthusiasm....!!

top notch!!

[miner]

Hope it all goes to plan for you guys as sounds like some of you have the house on it.

Cheers
Miner

[GR8DAY]

...cheers Aotea m8. That lagging SP is starting to get to me tho. Even allowing for the small question mark still hanging over us, the SP shud surely be tracking the huge GP gains of the last month or so. Add to that the SPP capital raising (even at only a 50% take-up) and we have a recipe for success which isnt being reflected(yet) in the SP. I wonder what it's gonna take??

[GR8DAY]

.........that's the spirit Yankiwi! have some fun and enjoy the ride m8.

[stone small green]

....gr8day always make me laugh. in a good way.

still in the same team!
ssg

[Landyman]

....gr8day always make me laugh. in a good way.

still in the same team!
ssg

If some new buyers come onboard, we'll all be laughing.

[Ponda]

In regards to the SPP, is anyone aware as to whether this is a 'first in, first serve' offer or if it is to be a 'scaleback'
I would have thought that with a limit set on how many shares there are that it would be a 'first in, first serve'

Also, has anyone recieved any documentation yet. I thought I had but seem to have lost it. Bugger.

[delboy]

Documents came about a week back. The only limit was the maximum amount you can purchase....you may have to get onto finding your ones, need to be in by 5pm on the 10th. Now back to looking under the couch cushions....gotta be some more loose change around here somewhere!

[Ponda]

Thanks for that,

I'm under the couch trying to find my forms

[stone small green]

I'm actually keen to see gold price back to the 1980 level.

2300d. :)

[GR8DAY]

.......and I rekon it'll get there faster than we think SSG.

[Paint it Black]

In regards to the SPP, is anyone aware as to whether this is a 'first in, first serve' offer or if it is to be a 'scaleback'
I would have thought that with a limit set on how many shares there are that it would be a 'first in, first serve'

Also, has anyone recieved any documentation yet. I thought I had but seem to have lost it. Bugger.

Ponda - you can find some feedback on this on #3442. My read is that the total number of shares to be sold is 86,310,000. There were 1613 shareholders in the last annual report. Assuming every shareholder picks up their $10K entitlement at 3.5c there will need to be 460,857,000 new shares issued which is more than 5 times the number available. Therefore some scale back may be required. I'm not sure how the scaleback would be done though - it is often a simple prorata and not related to the timing but DYOR.

[meesham]

Ponda - you can find some feedback on this on #3442. My read is that the total number of shares to be sold is 86,310,000. There were 1613 shareholders in the last annual report. Assuming every shareholder picks up their $10K entitlement at 3.5c there will need to be 460,857,000 new shares issued which is more than 5 times the number available. Therefore some scale back may be required. I'm not sure how the scaleback would be done though - it is often a simple prorata and not related to the timing but DYOR.

I've just re-read the offer document, under "How many shares will I receive?" it states in the second paragraph that it'll be scaled back on a pro-rata basis.

Unfortunately I'm not going to take part, my next provisional tax installment is due next month and the tax man might get a bit annoyed if I buy more shares instead of pay him :)

[delboy]

Opps sorry for the mis info. I didnt read my pack properly....sorry I must remember to slow down and read all the info next time. Thanks for that meesham.