Heritage Gold...HGD

[Paint it Black]

No news on my end, other than I'm accumulating at these bargin prices.

IMO, Heritage will have it's day again with the announcment naming a JV partner. We could be surprised by a JORC upgrade, or a mining approval prior which would also send the sp soaring. When it does go it'll jump from wherever it's sitting to 5c easily or higher in a day.

I wonder how many people out there will be racing to the buy button when one of the above announcments is made. I'm stockpiling my shares now (pun intended :lol:) because I'm not one of them that'll be looking at the fund balance in my call account to buy some, after they've already doubled or tripled their sp. :eek2:

The day the trading halt happens will have to be a (not) sicky day or two from work for this boy. :D

YK the mining permit's already in the bag - just need a resource consent and if need be a JV. I really hope management are pursuing the RC - once this is in place the JV partner will come running. At the last AGM they said it would take 12 months for an RC to be granted if non notified. I will be asking a few questions of management re it's progress at the next AGM in September. It would be ridiculous if management claim that a JV was needed first before they progressed this and in the interim all this time has been wasted.

[Ponda]

All gone quiet on the HGD front. Has anyone had any recent dealings with the company and know what they are doing? (if anything).

I drove through the gorge the other day and there was some major work being done on the old rail bridge that is south of the vehicle bridge.
I am not sure if it was some historical group refurbishing the bridge or Heritage doing structual work on it.
Apart from that, Tanger, not really able to add anything.
Yankiwi spoke to Heritage and maybe he has some insight as to if that particular bridge is part of Heritages plans.
Yankiwi, do you have any input re the above??

[Cannibal]

HTM - 13,478,920 just went through on a cross trade on the ASX this morning.

Volume seems to be picking up and tyeh share price...

[mr.needs]

I firmly believe Heritage is doing the hard yards behind the scene. Peter is one of the largest shareholders in the company so where are his riches going to come from? Transforming HGD from explorer to miner, or collecting a salary? I know which route I'd be taking. :lol:

Either way he still gets paid though doesn't he

[mistymountain]

Just a quick message to anyone wanting to buy into this very risky company.

The time to make a quick financial return is by making a share purchase towards the end of the year... maybe November early December. Without fail this is when the HGD mgmt whip up some market interest. By igniting a watching market you could make a 100 % return if not more.......However do not hold. Market reality sets back in and you will see a return to a SP of $0.025 or worse.

For Yankiwi: BAP has now left this thread. My advice is go back and read his optimistic posts which he did for quite a few years... years... My advice is please don't start laughing til the fat lady sings and please don't encourage naive investors to part with hard earned cash on a company like HGD which just hasn't delivered and looks like, mid 2010, on continuing the inability to reward loyal shareholders.

Cheers

[mistymountain]

Hi Steve, When I read this my thoughts were:

Why would high profile people such as Mr Grigor , the MD of Far East Capital and the new chairman Mr Hill be plugging for and fronting for HTM/HGD. They both have big reputations to keep intact. I have done a 'google search' on both and I suggest that they wouldn't jeopardise these reputations 'at any cost'.

IMO there must be some promising developments underway.

Cheers
BP:)

There you go Yankiwi... from 2007 when BAP was saying all sorts of stuff about SP heading past $0.15, Uranium and technical experts riding in like Knights in Shining Armour from those Misty Hills. Meanwhile 2010 rolls on.

[Cannibal]

Er - since when has it been illegal in New Zealand to express an opinion?

MM - I like your thoughts on the annual Xmas pumping by HGD/HTM. I ckecked and they have done it for 3 years in a row now. Well spotted.

"Pubic forum" - nice.

[BAPP]

Just to set the record straight...I still read this thread on a regular basis and I also remain a reasonably significant shareholder in HGD. Although I have 'sold off' a large portion of my holding... as I indicated I would in my posts last year.

In one of my last 'postings' I indicated I would not be a regular contributor to the thread unless there was some significant news to discuss and to my knowledge there has not been anything worth posting as most of what has been presented is a repeat of 'old news' and announcements.

I'am not about to start 'slagging' off other people because of their opinions and I have always indicated that HGD is a speculative share!

Like some others who have posted comments on this thread I have had the opportunity to visit the Talisman mine and Waihi permits with senior mining people and we can all see the potential. So we live in hope :)

Whether that potential is realised in the share price is another story...I just keep my fingers crossed that one day HGD will make some headway for those shareholders who have been holding for many years.

Good luck to you all and lets try and contribute to the thread in positive and constructive manner that enables people to make informed decisions.

Cheers
BP:)

[mistymountain]

Thanks for the research MM, which I’ll note is available to anyone with 15 minutes of Internet access, but I’m quite happy to stick with my personal more serious research.

I too had read through the entire HGD thread, prior to first investing in them and have noted that several years ago you have claimed to have an investment in HGD back then. I’m sorry if that investment didn’t work out for you at the time. I guess we all have investments, which don’t work out the way we think they will. On the other hand, HGD has worked out well for me on a couple of occasions previously. I’m again invested in them with more sense of security then my previous ventures.

With that said and on another note, defamation of character is a serious matter with legal implications. Yes you are entitled to your personal thoughts and beliefs on BAP’s or my character for that matter. Believe it or not, I have my personal thoughts about yours. But by posting these personal thoughts in a pubic forum it is in breach of the law.

Because of this, your last post has been reported to ST management.

I am deeply apologetic if my comments were taken to be a character defamation. They were certainly not intended to be a character attack at all. Far from it. I intended to wave the flag of caution to investors who may be out there who were like me a few years ago being affected by optimistic opinions. Many many apologies for my lack of clarity there.

Thank you BAP for those recent kind words and words of wisdom. You have taught me a lot about investing in NZ gold companies through your passion for HGD which I used to read with interest. Thank you.

I agree let's keep positive and celebrate the milestone developments that HGD create before their mining licence expires. But please, lets keep some realism too as I am one loyal shareholder who still is.

[Stumpynuts]

Does anyone else think that the 13,000,000 or so HTM shares traded on 16 Jun is a little out of left-field?
Inside knowledge maybe?

There were only 3 or 4 trades made that day, and of those trades one of them was for the 13 mill shares.

No volumes have been traded that high since the mining permit announcement made last year, see the chart
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=HTM


Maybe the 13 mill shares co-incided with the Chinese delegation that visited and manhandled Russell Norman.
Ahhhhhhh did anybody ever think to take that into account?!?!?

[Tanger]

Hi YanKiwi

From memory the large crossing on the 16th of June was actually for an amount of shares slightly in excess of the amount disclosed as being held by Fortis on 28 Feb (around 100k more I think). Therefore, I would guess that it was simply them transferring all of their holding from one vehicle to another vehicle. Guess we will have to wait for an update to the shareholder register that HGD posts on its website to see who is correct.

I guess the next opportunity for more information is going to be at the AGM. I would think that this is where shareholders need to put together some challenging questions to management to get more concrete plans on timeframes for RC approval and moving forward with some simple mining. It is all too easy at the moment for them to simply comment on the progress (or lack of it) of finding a JV partner. In this regard, I still check the Companies Office website everyday to see if a new company has been incorporated that maybe HGD and some other party might own jointly. Till we get something concrete, we just have to sit and wait.

[Tanger]

I still think the interesting piece of "news" for the week has to be the buyer for 5,000,000 shares at 1.6c AUS on the ASX. This would appear to be a new buyer looking to enter, and based on the shareholding list at 28 Feb, would take them straight into 11th place (if they don't already hold some). Someone willing to buy AUS$80k worth is in my mind a positive vote for the company. For some reason, I think the next month in the run up to the AGM could be interesting times.

[Oiler]

Just to set the record straight...I still read this thread on a regular basis and I also remain a reasonably significant shareholder in HGD. Although I have 'sold off' a large portion of my holding... as I indicated I would in my posts last year.

In one of my last 'postings' I indicated I would not be a regular contributor to the thread unless there was some significant news to discuss and to my knowledge there has not been anything worth posting as most of what has been presented is a repeat of 'old news' and announcements.

I'am not about to start 'slagging' off other people because of their opinions and I have always indicated that HGD is a speculative share!

Like some others who have posted comments on this thread I have had the opportunity to visit the Talisman mine and Waihi permits with senior mining people and we can all see the potential. So we live in hope :)

Whether that potential is realised in the share price is another story...I just keep my fingers crossed that one day HGD will make some headway for those shareholders who have been holding for many years.

Good luck to you all and lets try and contribute to the thread in positive and constructive manner that enables people to make informed decisions.

Cheers
BP:)

Good to to see you are still around BP. I figured you had decided to take a lower profile :D

I am with you on this one, why post if there is no new news.

We have been underground and seen the potential of the Talisman and the Waihi area and now need management to come up with the goods.

I hate to say this, but I suspect we will only get an update at the AGM, in spite of my badgering Peter to give us long term holders some news. :(

Hang in there Yankiwi.

Still hold a chunk of shares and waiting patiently. :t_up:

[Landyman]

IMHO, HGD is a decent investment for anyone currently looking to enter into "Goldies". At 2.6c, is at a relative low point in recent trading terms. The JV will see the share price jump, probably a spike to 5-6c (??), and then level out again at a slightly higher point (maybe 4c).
With 343million shares, there are a lot of investors who will double their money at anything close to 5c, so cant see it take off any higher, and cant see it staying at that level, unless the JV HGD negotiates is very much in their favour. Supply of shares will escalate, as the long termers look to put some profits in their pockets.
Both YanKiwi and Misty have valid points - HGD is a safe bet, as long as the gold is still in them hills!

[whatsup]

An Aust construction company I think Downer was yesterday awarded a $50 Mil contract to extend/develope the Martha Mine for its current owners.

[corporateraider]

Unconfirmed reports have it that HGD is poised to sign a joint venture with one of the world's most successful gold miners, Erin Nordegrin.

[JBmurc]

Unconfirmed reports have it that HGD is poised to sign a joint venture with one of the world's most successful gold miners, Erin Nordegrin.

Really sounds a little far-fetched to me which gold miner which report ? NEM?

[doon]

Unconfirmed reports have it that HGD is poised to sign a joint venture with one of the world's most successful gold miners, Erin Nordegrin.


Yeh right, and you can't even get the spelling right. Tiger's wife/ex is 'Elin'. If sharetrader don't suspend and ban you for this grossly inappropriate post, I will consider cancelling my membership- not interested in this type of rubbish. Anyone support me on this, or are you all interested in ****ers like so called 'corporateraider'.

[Cannibal]

Er - it's a joke...

Albeit with bad spelling...

Elin is indeed an excellent gold digger - with some justification - http://www.musicrooms.net/showbiz/7551-Tiger-And-Elins-Divorce-Turns-Nasty.html

Lighten up Doon.

[doon]

sorry, jbmerc obviously did not initially regard it as a joke, and he is a 'guru' with 2872 posts. If you want jokes, there are many sites on the internet to visit. This site I thought was for considered discussions on stock market matters. maybe you cannibal should crawl back into your hole rather than me 'lighten up'- :)

[corporateraider]

Doon
I enjoyed your erudite contribution. I think I understood the word that you seemed to have trouble spelling.

[corporateraider]

Doon
If you hadn't noticed from reading this thread many view the performance of this company as something of a joke. On that basis a flippant post on this thread does not seem out of order.
I apologise for my spelling of Elin and yours of jbmurc.

[elZorro]

You are all welcome to post something on the OGC thread..a few more opinions would be good.
While we're waiting for HGD to get going.

[doon]

Oh dear corporateraider, your 'great knowledge; learned or scholarly' use of the English language may impress some. However, a quick spell check to try and determine what you refer to with my post is negative. (Oh, I see now I misspelt a members name!) I have no wish to bore genuine HGD investors with this petty topic any more, so sorry, OVER AND OUT! No more posts on this topic. Incidentally, despite the current HGD/HTM share price, and the current state of the resource sector at present, and the dismal performance of Heritage since listing some 15, or 25 years ago?? (not sure which and can't be bothered researching), I am ever hopeful that Heritage will eventually be a profitable investment for me and other faithful investors. Have a good night, and best wishes with your corporate raids!

[GR8DAY]

oh dear God DOON loosen up and get a life m8.......good one Corporate, keep em coming!...........after all HGD is a bit of a joke now and Im a holder of sometime!!

[Landyman]

Welcome back GR8DAY, I was hoping you had decided to go work at Heritage and sort them out, hence why you had been MIA here.
Patience is a virtue.......HGD will do something one day.

[GR8DAY]

.....cheers Landy......bin lowing low watching, listening, laughing ( not to mention waiting). Still holding but disappointed the January announcement of a JV partner has still not eventuated...we live in hope I guess.

[GR8DAY]

...make that "lying"............"lowing low" is a new technical term that I have yet to fully understand, even partially understand actually.

[Ponda]

...make that "lying"............"lowing low" is a new technical term that I have yet to fully understand, even partially understand actually.

Hey, GR8DAY,
Since we have the spelling police sniffing around (no offence to anyone, please) I think that you may have meant 'Laying low'
Lying low: would imply that you lie whilst you are low.:)

HGD is surely going slow at the moment. But every day that goes by is one day closer to ...... something.

There is a big split now between the bids and the asks. Needs someone to step up.

[whatsup]

Unconfirmed reports have it that HGD is poised to sign a joint venture with one of the world's most successful gold miners, Erin Nordegrin.

Great lateral thinking , pity the directors cant come up with something as eye catching as this "news" release!!!

[GR8DAY]

Hi Ponda........yes I do tend to "lie low" when I am low.......ie Prostrate (not to be confused or misspelled "prostate", that's yet another problem!) We have seen these depths before with HGD so nothing is new but "new" is what we need right now esp. with GP now heading south. I wish I cud get fired up again with HGD.......our directors sure know how to test their SHolders patience. I guess it will all come together eventually.

[Landyman]

HGD
15/07/2010
MEETING

REL: 1522 HRS Heritage Gold NZ Limited

MEETING: HGD: 2010 Annual Meeting and Closing Date Director Nominations

I elect GR8DAY and YanKiwi! Lets get some action here!!!

[STRAT]

Like sands through the hour glass so are the days of Heritage Gold :eek2:

[Tanger]

Another quarterly report is due out at the end of next week. I wonder what type of odds the TAB would give me for no new information (not very good, but I would love to be proved wrong!!).

[Balance]

Pass the word around - HGD directors seen in Sydney's Sing Kee supermarket talking with a few Asians. Eavesdropping informant suggest discussion was about the price of rock salt.

That qualifies as progress on their JV discussions so that will be included as 'Significant Progress' in their quarterly.

Enjoy!

[Doyle]

Hhmmm Balance:confused:. You seem to be able to find the guff us shareholders wish to know:eek2:. Are you a secret agent?,.....do you live on the streets of Sydney?,.. do you stroll around in a trenchcoat with dark shades and a black beanie looking to find the answers to the big questions everyone is asking?:confused:. Come on bud, spit it out,....are you in pursuit of the truth?,....or are you pulling the big fella and creaming everyone?:confused:

I think you may have failed to see the Irony in balances posts. Would tend to think not serious comments.

[STRAT]

I think you may have failed to see the Irony in balances posts. Would tend to think not serious comments.Hi Doyle. There can sometimes be only a fine line between Irony and Sarcasm but it is Balance so Im pretty sure it will be the later.:p

[Stumpynuts]

tick tock................................

[Tanger]

Quarterly update due this Friday. Given it is for the period to 30 June, not expecting much. Negotiations progressing, widening search etc etc. Come on HGD, give us some tangible news!!!

[Paint it Black]

Quarterly update due this Friday. Given it is for the period to 30 June, not expecting much. Negotiations progressing, widening search etc etc. Come on HGD, give us some tangible news!!!

If it is like that there will be some serious questioning of the Board's efforts and their fees at the next AGM.

[Tanger]

I'd like to think there will be some news (a little glimmer of hope), but am not expecting much until the AGM (late September from memory). That way they get to deflect any questions about directors fees with a little bit of good news.

[clarky]

for once some good news...about NSW. it is on all the news websites which is giving HGD good recognition!

also positive about appointing Campbell MacPherso, hopefully they can drum up some support.

[GR8DAY]

....whats the good news Clarky (about NSW) ?? Agree positive news re "new blood" acting for HGD........I think their own blood might have gone a bit stale!

[BigBob]

....whats the good news Clarky (about NSW) ?? Agree positive news re "new blood" acting for HGD........I think their own blood might have gone a bit stale!

From Stuff.co.nz:

http://www.stuff.co.nz/business/industries/3975932/Heritage-Gold-ready-to-mine-in-NSW

Heritage Gold will be part of a new float to mine cobalt at Pyrites Hill, Thackaringa, near Broken Hill in outback New South Wales, the ASX and NZX-listed Australasian mining company said today.

The resource belongs to Broken Hill Proprietary (BHPL) and is owned 33 percent by Heritage and 66 percent by global mining giant BHP Billiton, and is in the last stages of raising A$1 million in pre-IPO funding ahead of a separate listing for the cobalt prospect.

BHP was a late starter in the silver boom which began in the Barrier Ranges at Thackaringa in 1877.

In its operating report for the three months to June, released today, Heritage says "following on from previous exploration for Broken Hill-style mineralisation, BHPL is preparing for a rotary air blast (RAB) drilling programme of 4,375 metres to test extensions of surface base metal anomalies and sulphide gossans under shallow soil cover."

BHPL has identified several new Broken Hill-style base metal occurrences, as well as a near surface cobalt deposit. It also has uranium prospects at Dunmarra Basin in the Northern Territory.

The company has substantial New Zealand interests, including underground mines in the Coromandel, which are the subject of interest from Chinese investors at present.

Heritage has sought advice from Auckland private equity firm Campbell MacPherson to undertake a global search for suitable candidates, having provided further data to "Chinese groups interested in a joint venture and/or equity participation in the Project."

Campbell MacPherson is reviewing the Company's data to gain a fuller understanding of the Project prior to seeking expressions of interest.

Heritage also stands to gain from Resources Minister Gerry Brownlee's minor mining win, to undertake an aero-magnetic survey of Northland.

Heritage holds licences in parts of Northland where a recent study conducted by Geological and Nuclear Science and the NZ Institute of Economic Research revealed the potential for $28 billion non-metallic and $5.2 billion of metallic mineral deposits in the Northland region.

The aero-magnetic survey would be likely to help prove the resource.

The share most recently traded at 0.2 cents, and was at its highest at 0.6 cents in the last 12 months.

[clarky]

be interesting to see if there is any reaction in SP

[Tanger]

Not much interest so far today Clarky. I think the market will need a bit more clarity around the IPO and/or the progress with finding a JV partner before HGD starts to move in a positive direction. Fingers crossed for something this year.

[clarky]

a slow rise...once there is more information (positive information!) out there we should see an upward trend

[Odd Fellow]

Heritage appoints advisor for Talisman

Ross Louthean — 2 August 2010

An advisor has been appointed by Heritage Gold (NZ) Ltd to undertake a global search for a partner for the company’s Talisman gold project at Karangake near Waihi.
Auckland investment bank group Campbell MacPherson will undertake the quest and was reviewing company data. Heritage said this firm has considerable experience
in the mining sector and has completed a range of advisory assignments and independent reports covering mining projects both in New Zealand and offshore.
For more than a year Heritage has been looking for a partner to finance further exploration and development of Talisman where new ore positions have been located
in the old Talisman mine – a high grade epithermal gold-silver project.

In its June quarter report Heritage (ASX: HTM; NZX: HGD) said further data has been provided to Chinese groups interested in a joint venture or equity participation in the project.
Meanwhile research on the characterisation of the geochemical signature in the soil profile over both mineralised and non-mineralised parts of the Karangahake area was nearing completion.

This work is part of a co-funded Foundation for Research Science and Technology -- Heritage Gold MSc project through the Auckland University. The objectives were, firstly to establish the regional geochemical background values and, secondly to relate soil geochemistry to underlying hydrothermal alteration.
The results, Heritage said, will be important for maximising the value of soil sampling in further exploration.
At the nearby Rahu prospect, a structural geologist has been engaged to study the structural geometry of the gold mineralisation to assist interpretation of likely repetitions of ore shoots, within old workings and along strike. The study was expected to be completed by August 31 and results will be used to refine the geological model and guide subsequent drilling.
At the Golden Valley prospect in the Waihi district, geophysical anomalies were followed up with a low-level detection soil geochemical survey, using a technique developed by the University of Auckland.

[clarky]

positive news http://www.stuff.co.nz/business/industries/3987727/Heritage-planning-trans-Tasman-cobalt-float

Heritage Gold expects to float its cobalt mining project in outback New South Wales on both the New Zealand and Australian stock exchanges by December 31, Heritage executive director Peter Atkinson says.

Heritage owns 33 per cent of Broken Hill Proprietary Ltd (BHPL), developer of the Thackaringa cobalt deposits, with the remaining 66 per cent owned by an unlisted Australian company, SOCO.

BHPL was in the last stages of raising about A$1 million (NZ$1.25m) in seed capital for a float that was likely to be in the A$3.5m to A$6m range, Mr Atkinson said.

"We're looking at that [listing options] now, and we'll want to involve Heritage shareholders, so I would expect listings on both the NZX and ASX," he said.

Besides the cobalt resource found in the two mining licence areas owned by BHPL, encouraging findings existed in a separate, large exploration licence, which it was hoped would allow the firm to meet its desire to double the size of the known resource.BusinessDesk

[Tanger]

"we'll want to involve Heritage shareholders" in the BHPL listing. In order for that strategy to be successful Heritage might first want to find a JV partner for Talisman. I can't see a lot of Heritage shareholders putting their hands in their pockets again without the directors first showing some value for the main company.

[hling]

"we'll want to involve Heritage shareholders" in the BHPL listing. In order for that strategy to be successful Heritage might first want to find a JV partner for Talisman. I can't see a lot of Heritage shareholders putting their hands in their pockets again without the directors first showing some value for the main company.

Ye. you are right.

[Tanger]

The Heritage Gold website list of shareholders has been recently updated. Not too much movement in the top 20. A couple of shareholders appear to be accumulating, but nothing major stands out (and certainly no new Chinese looking shareholder). Looks like we will have to wait for the AGM for any more news.

[Landyman]

With Campbell MacPherson now onboard, any views as to how long this could take? If there is really anyone out there interested in HGD permit, surely the negotiations will be complete by end of this calender year???

[Coaster]

Sounds like allot of eggs in one basket,hope it all works out for you.

Cheers
Miner

Hi Miner,

Could you give me an email at coaster at paradise.net.nz. I've been trying to contact you unsuccessfully about a gold opportunity you might be interested in.

Regards
Coaster

[mistymountain]

Quite likely. Though Feb 09 was a time of over oversold equities across all sectors. OGC was at $0.20 now $3.55. BGR $0.60 now $1.30. PPL $0.70 now $2.30. The latter both payiing dividends.

Point is though the HGD went onto print mores shares at end of 2009 to keep solvent. Shares sold at $0.035 with a drop back to $0.027 now indicates a slide to $0.01? soon. Watch this company sink completely IF it is not rescued by another company. Fine line if the rescue fails to eventuate.

My gut feeling is that the IF will be a NZ company not Chinese.

Those shareholders who purchased 6 months ago have lost 30% in value on a downtrend that hasn't stopped.

One of my last posts said it wouldn't end until sub 2. I cannot see why that prediction won't eventuate in the next 3 months

Well I hate to say to all you rosetinted investors but quoted from today's NZ market.: Heritage Gold NZ Limited Ordinary Shares HGD 0.019 0 (0.00%)


I said $0.01? in 3 months; turned out to be 3 and a bit months. I'm very interested in what might be happening at this mine given POG is solid.

What has really happened since December ?? Things must be shakey if the market is downgrading HGD this much. Almost 50 % capital loss since the SPP. Surely management must need to answer some big questions...

[Paint it Black]

Well I hate to say to all you rosetinted investors but quoted from today's NZ market.: Heritage Gold NZ Limited Ordinary Shares HGD 0.019 0 (0.00%)


I said $0.01? in 3 months; turned out to be 3 and a bit months. I'm very interested in what might be happening at this mine given POG is solid.

What has really happened since December ?? Things must be shakey if the market is downgrading HGD this much. Almost 50 % capital loss since the SPP. Surely management must need to answer some big questions...

But there is a bid in at 2.1c - the decline is irrelevant MM with a minute turnover of say 100,000 ave/day since Jan this year against the total share holding of 350 million ie 0.03%/day. The sellers are often needing to do so to meet cash flow demands etc. The main issue is what the top 20 players are doing and this remains stable with 15 of the top 20 remaining now who were also on the list in Jan 2009. Even more importantly Geoffrey Hill and Peter Atkinson's interest in the company through their companies with So Co, Prophecy and PA's own holding intact.

However the AGM on the 23/9 is very important I believe for the directors to demonstrate they are making strong progress to quickly utilise the permit while the POG holds up and are not waiting for some nebulous JV partner to emerge. We will await the results of Campbell Macpherson's global search and it will hopefully be more substantive than 'we are reviewing the data to obtain a fuller understanding of the company etc' .

[mistymountain]

Thanks PIB ...wise words and I am waiting with interest too.

[Tanger]

The Companies Office website is showing a number of new shareholders in Broken Hill Prospecting Limited. Looks like both Heritage and So Co have reduced their holdings to 30% and 60% respectively with the other 10% held by new shareholders. Is this the additional funds they were seeking to get the listing off the ground?

[Balance]

Another cash raising coming up soon.

Get ready for the barrage of good news.

Heard the one about the Chinese wanting to make a takeover offer? Personal invitation from John Key himself no less - and ably supported by Kerry (Keep NZ Farms In NZ ownnership) Hoggard.

[Tanger]

Perhaps the Heritage Gold directors should be waiting outside the NZ Farmings Systems Uruguay headquarters and offering the company to one of the two unsuccessful bidders

[Balance]

Perhaps the Heritage Gold directors should be waiting outside the NZ Farmings Systems Uruguay headquarters and offering the company to one of the two unsuccessful bidders

But the Chinese are so keen on the company. It's a matter of time before they make a bid.

Wonder what happened to the JV Chinese they have been talking about for a year.

[shasta]

But the Chinese are so keen on the company. It's a matter of time before they make a bid.

Wonder what happened to the JV Chinese they have been talking about for a year.

Probably buying it from current gold producers!

[Balance]

Probably buying it from current gold producers!

Just whisper China interests and watch the punters line up with their cash for the directors to spend.

Chairman's address last year :

"In view of the significant commercial opportunity at Talisman we will continue our endeavours to seek a suitable large partner.
Chinese groups have expressed some interest and we are continuing dialogue with a number of overseas parties."

HGD directors and management must be laughing themselves silly as they count the cash. It's all so easy.

[Landyman]

Solid support, 2000 shares sold at 2.1 last week, now 2.2, really flying, 2.3, and closes 2.1. Awesome, Im turning into a HGD cynic

[GR8DAY]

....welcome to the club Landy!.......whats happened to our friend Yankiwi......has he seen the light also??

[Landyman]

Think he took his shovel to do some digging, seems that HGD dont have anyone to show round the mine, so totally unguarded, he may have hit pay dirt already

[mistymountain]

Those pigs keep flying...

[miner]

Think he took his shovel to do some digging, seems that HGD dont have anyone to show round the mine, so totally unguarded, he may have hit pay dirt already

Then all you need is a ball mill etc and a cyanide plant,sulphides are a b#stard.

[Odd Fellow]

Hi Gr8 & Landy.


.... Lately I've been finding myself accumulating NZO shares, black gold, Texas tea. :D and maybe a bit of coal someday too. :huh:



Hi,
NZO is really cheap at the moment and if you want to join in on the "Coal Rush" then now is the right time before the price is jumping up.

Cheers.

[GR8DAY]

Miner.......there wont be any cyanide etc around that beautiful river (Ohinemuri).........even as a shareholder I'll see to that!

[miner]

Hi GR8DAY was thinking more as in low sulphide ore you can get ok results just using mercury,but ore out of your hole needs cyanide,got some nice stuff out of there years ago (BEFORE HGD ),but not much you can do with it unless you make a cyanide plant,but then nothing is easy about gold.

River will be ok as be very surprised if there plant is on site,mainly as nowhere to put it.

Cheers
Miner

[GR8DAY]

.......it'll have to be a VERY Green mine to get any approvals in that location.........but that can be done of course these days.

[miner]

Google earth it if you haven't been up there,not enough room to set up a plant ?.

Cheers
Miner

[Landyman]

Murmurs? Heritage up in NZ and Aus?

[Landyman]

Hmmm, very interesting. Wish I had $12k myself to buy in deeper

[Tanger]

No one is jumping at the shares at 2.4c. I guess people are afraid that someone has information that the rest of us don't. Still no "new" company with Heritage Gold as a part owner off registered on the Companies Office. We wait and hope!!!

[Tanger]

More shares issued in Broken Hill on Thursday. Heritage took another 1m, but looks more to keep their percentage constant. I guess we have to wait until the AGM to get some more information on this, but looks like they are getting ready for the IPO. Question is whether this will actually return any $$ or value to Heritage.

[Landyman]

Hmmm, some support in the last week, up to 2.5 now. Could things be starting to bubble, suspect its day traders trying to make a buck from any rise after the AGM where the good word will be preached, and the delivery will.............well, lets wait and see.

[Tanger]

I wonder if they try to get some "good news" out pre the AGM to take the heat out of that meeting. They seem to be happy to take their directors fees with not too many results to show for them and I imagine the AGM will get quite interesting. The permit has a condition that mining must be started within 60 months. 10 months gone and nothing else out of the company except we are looking for a JV partner. 50 months to go!!!

[miner]

Rahu is also called" white rocks",there is a clue as to what may or may not be there as far as gold goes in that name.

[whatsup]

Am I detecting a bit of strength in the last couple of weeks for HGD?

We traded at a recent low of 1.9c not all that long ago.

I'm now seeing buy offers for 1.3 million shares at 2c or more, which is more than all shares currently offered at any valve. :D

It is however good to see the small buyers coming up to the offer price instead of seeing a few shares crossing at the bid price. :t_up:

Hmmm :rolleyes: .... with the AGM is less than 2 weeks away, is the the calm before the storm? I don't personally know but I figure they wont be releasing any bad news. :)


Lets hope so, or maybe its just pre AGM chatter and share build.

[hidad]

I would love to no what these guys really do all day long , by the looks of it nothing and with gold being the price it is today you would think they would want to get a move on. I have e-mailed them telling them i am more then happy to set my tent up next to theres and early each morning set out with my pick and shovel just to get things started. Come on what do they do all day and how do they sleep at night.

[Tanger]

Given all the activity on the Broken Hill share register, I suspect there will be some focus on the proposed IPO at the AGM in a couple of weeks. Would be nice to have a decent update on the mining permit and progress with everything else that needs to be obtained. Until some more concrete information comes out, I can't see the share price moving too much.

[elZorro]

Given all the activity on the Broken Hill share register, I suspect there will be some focus on the proposed IPO at the AGM in a couple of weeks. Would be nice to have a decent update on the mining permit and progress with everything else that needs to be obtained. Until some more concrete information comes out, I can't see the share price moving too much.

I had some HGD a while back, sorry I lost interest, and a bit of capital. Suggest you guys look at mining stocks that are producing - now is the time to make some moolah, not in a few years time. Having your money tied up here is like getting 0% at the bank. It's hard enough making a return on shares, this one is not a great bet.

[GR8DAY]

Elz , easy m8 Ive still got a few of these things myself.......cant you be positive and do your OGC thing on them for me??

[elZorro]

Elz , easy m8 Ive still got a few of these things myself.......cant you be positive and do your OGC thing on them for me??

Yes, it's easier to be a bit negative on a share (or is that more objective?) when you don't have any. Sorry about that.
But HGD sometimes looks bad against GEL, and both are light-years away from OGC for example, in the positives for shareholders. I'm sure you could take cash out of HGD, invest it elsewhere and return it long before anything startling happens. It's a huge investment to get a mine started. Why not start with someone already mining, the capital gear is paid off or commissioned, they know what they're doing, etc.
Plus if you do need to sell shares, there's a ready market any trading day.

[GR8DAY]

yes all true Elz but like any share we just dont know whats around the corner or about to be released to the market (therein lies the risk and the fun). Ive witnessed Gold Stocks go from 16c to $2.80 in the space of a year, but that was an explorer moving to producer and it took some time to get to that stage (of producing). I still think HGD will do it but Im not gonna hold my breath...........happy to hold onto what Ive got for now and live in hope.

[mistymountain]

Good on you EZ, wise words.

I was proven right with HGD hitting $0.01? in 2010. I also predicted a jump in HGD at end of each calendar year so purchases before December could reap short term gains. However HGD just too weak for me to have faith heading longer term into 2011... if only they could deliver some tangible returns

[Landyman]

Misty, whats your view on the SP if the JV gets announced? Guess this will depend heavily on what deal they can sign up.

[mistymountain]

SP would quickly head to $0.05 and then level at that support until the JV demonstrates progress towards mining. If this eventuates we may see a slow trend up to $0.10.

Obviously at some stage in the far distant future we might even see some spectacular capital growth however this relies on a very long list of if and buts and maybes.

Obviously a company to keep an eye on over the next 5 years BUT not one if you are expecting to get rich quick like some previous posters seem to think it could be.

Patience...

[Paint it Black]

Mind you doubling your money in a couple of weeks is not to be sneezed at if you think 5 cents is a possibility MM? Some interest is gaining momentum on both sides of the Tasman as we approach the AGM on the 23rd.

[Landyman]

Broken Hill announcement, as you have all raised, the HGD bosses rolling out the good news before the shareholders get to vote at the AGM

[BigBob]

Broken Hill announcement, as you have all raised, the HGD bosses rolling out the good news before the shareholders get to vote at the AGM

Ahh of course... I was wondering why they'd release a non-event about a review of 3 year old report....

[hling]

Ahh of course... I was wondering why they'd release a non-event about a review of 3 year old report....

IMHO the directors were busy drilling holes during these 3 years.

[BigBob]

IMHO the directors were busy drilling holes during these 3 years.

They might have been drilling holes, but I doubt they were busy....!!

[whatsup]

Going off today both Aussie and N Z , whatsup !!

[GR8DAY]

.......something going down? My gutometer working well again....just topped up with another 250000 at 2.7c. Maybe sentiment is about to turn as sometimes happens for no "apparent" reason? Maybe someones just put their calculator over the value of the gold resource now with GP at record levels.........gotta be some serious moola sitting there now?

[JBmurc]

Might be a good time to sell on any decent buying I'd be surprised if HGD go anywhere fast -cobalt? what about the Gold..... sometimes it's better to sell an buy a more pro-active explorer than live in hope that HGD day will come 20yrs+ yrs an waiting

[GR8DAY]

.......sometimes JB it's better to have both.......just in case??

[STRAT]

A lot of people complain about NZX reporting. Rambling documents that are difficult to read. Nice to see the NZX has made an effort in this department. They have decided its easier if you get to read it twice :D



HGD 16/09/2010 16/09/2010 12:47 GENERAL GENERAL REL: 1247 HRS Heritage Gold NZ Limited REL: 1247 HRS Heritage Gold NZ Limited GENERAL: HGD: Report re Broken Hill Prospecting Ltd Mineral Resources GENERAL: HGD: Report re Broken Hill Prospecting Ltd Mineral Resources 16 September 2010 16 September 2010 Limited Company Relations Limited Company Relations New Zealand Stock Exchange New Zealand Stock Exchange Level 2, NZX Centre Level 2, NZX Centre 11 Cable Street 11 Cable Street WELLINGTON WELLINGTON 2 pages 2 pages FOR PUBLIC RELEASE FOR PUBLIC RELEASE REPORT TO ASX AND NZSX RE BROKEN HILL PROSPECTING LTD MINERAL RESOURCES REPORT TO ASX AND NZSX RE BROKEN HILL PROSPECTING LTD MINERAL RESOURCES Heritage Gold has recently reviewed a Competent Persons' Report on the Heritage Gold has recently reviewed a Competent Persons' Report on the mineral assets of Broken Hill Prospecting Ltd, in which it has a 33% mineral assets of Broken Hill Prospecting Ltd, in which it has a 33% interest. interest. The report, by Snowden Mining Industry Consultants Pty Ltd (Snowden), is The report, by Snowden Mining Industry Consultants Pty Ltd (Snowden), is dated 29 October 2007. dated 29 October 2007. The Snowden report was prepared in accordance with the Valmin and JORC codes The Snowden report was prepared in accordance with the Valmin and JORC codes as at that date, and in part, states: as at that date, and in part, states: "Mineral Resource Estimates "Mineral Resource Estimates A potential resource estimate was prepared for the Pyrite Hill project in A potential resource estimate was prepared for the Pyrite Hill project in 1981, prior to the advent of the Australasian Code for Reporting of 1981, prior to the advent of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 1989). An Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 1989). An approximate estimation of the resource at Big Hill was carried out in 1998. approximate estimation of the resource at Big Hill was carried out in 1998. BHCL (now BHPL) has since reported these historic estimates as Inferred BHCL (now BHPL) has since reported these historic estimates as Inferred Mineral Resources. Snowden has reviewed the Mineral Resource estimates with Mineral Resources. Snowden has reviewed the Mineral Resource estimates with respect to the guidelines of the JORC Code 2004, and considers that the respect to the guidelines of the JORC Code 2004, and considers that the Inferred Resource classification is appropriate. Whilst more sophisticated Inferred Resource classification is appropriate. Whilst more sophisticated statistical methods exist the estimation methodology and the resultant global statistical methods exist the estimation methodology and the resultant global resource estimates are appropriate considering the available data....." resource estimates are appropriate considering the available data....." "Currently reported Inferred Mineral Resources at Pyrite Hill and Big Hill "Currently reported Inferred Mineral Resources at Pyrite Hill and Big Hill include: include: Inferred Mineral Resources Inferred Mineral Resources Project Cut-off (lb/t Co) Mt lb/t Co Project Cut-off (lb/t Co) Mt lb/t Co Pyrite Hill 1.1 10.6 2.2 Pyrite Hill 1.1 10.6 2.2 Big Hill 1.1 4.4 2.0 Big Hill 1.1 4.4 2.0 In Snowden's opinion the resource estimates and attributed confidence In Snowden's opinion the resource estimates and attributed confidence classifications for the Pyrite Hill and Big Hill deposits, which have been classifications for the Pyrite Hill and Big Hill deposits, which have been reported in accordance with the JORC Code 2004, are reasonable, given the reported in accordance with the JORC Code 2004, are reasonable, given the available data." available data." Heritage Gold believes there is considerable potential to discover extensions Heritage Gold believes there is considerable potential to discover extensions of these deposits and new cobalt occurrences (such as that encountered in of these deposits and new cobalt occurrences (such as that encountered in more recent 2008-09 drilling at Pyrite Hill South) and this is endorsed by more recent 2008-09 drilling at Pyrite Hill South) and this is endorsed by the Snowden report, which states: the Snowden report, which states: "In Snowden's opinion the Broken Hill projects remain prospective for the "In Snowden's opinion the Broken Hill projects remain prospective for the discovery of additional low-grade stratiform cobaltiferous pyrite deposits discovery of additional low-grade stratiform cobaltiferous pyrite deposits located along strike of the defined resources at Pyrite Hill and Big Hill." located along strike of the defined resources at Pyrite Hill and Big Hill." About Heritage Gold About Heritage Gold Heritage Gold (NZ) Limited is a leading New Zealand, dual listed (NZSX: HGD, Heritage Gold (NZ) Limited is a leading New Zealand, dual listed (NZSX: HGD, ASX: HTM) minerals exploration company with over 1600 Australasian ASX: HTM) minerals exploration company with over 1600 Australasian shareholders and a portfolio of high quality mineral prospects in both shareholders and a portfolio of high quality mineral prospects in both countries. countries. Its gold tenements in the Coromandel region of New Zealand include the Its gold tenements in the Coromandel region of New Zealand include the historic Talisman Mine at Karangahake which has a JORC resource of 205,000 oz historic Talisman Mine at Karangahake which has a JORC resource of 205,000 oz gold and 800,000 oz silver. The mine produced over 1 million oz gold and 3 gold and 800,000 oz silver. The mine produced over 1 million oz gold and 3 million oz silver during its peak mining period. million oz silver during its peak mining period. Heritage Gold owns 33% of Broken Hill Prospecting Limited (BHPL), which is Heritage Gold owns 33% of Broken Hill Prospecting Limited (BHPL), which is planning to develop a cobalt project at Thackaringa, about 20 km southwest of planning to develop a cobalt project at Thackaringa, about 20 km southwest of Broken Hill in New South Wales. BHPL has identified several new Broken Broken Hill in New South Wales. BHPL has identified several new Broken Hill-style base metal occurrences, as well as a near-surface cobalt deposit. Hill-style base metal occurrences, as well as a near-surface cobalt deposit. Competent Person's Statement Competent Person's Statement The information in this report that relates to mineral resources is based on The information in this report that relates to mineral resources is based on information compiled by Mr Alex Trueman, who is a Member of The Australasian information compiled by Mr Alex Trueman, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Trueman has consented to this report Institute of Mining and Metallurgy. Mr Trueman has consented to this report as an independent consultant. Mr Trueman has sufficient experience which is as an independent consultant. Mr Trueman has sufficient experience which is relevant to the style of mineralisation and type of deposit under relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent 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 Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Trueman of Exploration Results, Mineral Resources and Ore Reserves". Mr Trueman consents to the inclusion in this report of the matters based on his consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. information in the form and context in which it appears. End CA:00199803 For:HGD Type:GENERAL Time:2010-09-16:12:48:10 End CA:00199803 For:HGD Type:GENERAL Time:2010-09-20 07:31:23

[Tanger]

Definitely something to do with the cobolt in Australia I think. The NZ Compaies Office website has listed new shares being issued in Broken Hill (another 1,200,000 to 5 new shareholders). Wouldn't surprise me if they have taken some shares in HGD/HTM as well. Roll on the AGM this week where we will hopefully get a bit more information (other than a 3 year old report which they have finally read!!).

[STRAT]

Well Strat, some of us investors still have the use of both eyes. :p ;)Thats a round about way of calling me an old pirate :eek2:

You goin to the meeting?

Try not to get cobwebs on your jacket :p

[GR8DAY]

.......yea good one Strat, thought it was my 2x glasses playing up again. Mind you there cud be a hidden message in there somewhere.......coded for the shortsighted and one-eyed across the ditch??

[elZorro]

Here's a post JB found (http://www.kitco.com/ind/schwensen/sep172010.html), have a read. It's a lot easier getting information from a company that is actually mining. Have a look at the website for a company of interest: if there's no easy-to-get-at "Reserves and Resources" table with some sensible figures, then alarm bells should be clanging. By investing in the likes of GEL and HGD (and I tried both), we are hoping to be experts in picking from hundreds of gold explorers, only some of whom turn out to be miners. Sure, I know HGD has a mine, but they have no equipment.

[Odd Fellow]

Hier is a report in a easy way to read,
no glases needed :)

Cheers


Heritage Gold assesses review of NSW asset
Ross Louthean — 20 September 2010



Durable North Island gold explorer Heritage Gold (NZ) Ltd recently reviewed a competent persons’ report on the mineral assets of Broken Hill Prospecting Ltd at Thackaringa, in which it has a 33% interest.

The report, by Snowden Mining Industry Consultants was dated late October three years ago.

Heritage said this week that after the review it considered there is considerable potential to discover extensions of these deposits and new cobalt occurrences such as that encountered in more recent 2008-09 drilling at Pyrite Hill South at Thackaringa, 20 kilometres south west of Broken Hill in New South Wales.

This view, Heritage said, is endorsed by the Snowden report which said: “In Snowden’s opinion the Broken Hill projects remain prospective for the discovery of additional low-grade stratiform cobaltiferous pyrite deposits located along strike of the defined resources at Pyrite Hill and Big Hill.”

Back in 1981 a potential resource estimate was prepared for the Pyrite Hill project prior to the advent of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 1989). An approximate estimation of the resource at Big Hill was carried out in 1998.

Broken Hill Prospecting has since reported these historic estimates as inferred mineral resources.

Heritage said currently reported inferred resources include at Pyrite Hill 10.6 million tonnes grading 2.2% lb/tonne cobalt and at Big Hill 4.4 Mt @ 2% lb/t Co. The cut off grade for both deposits was 1.1% lb/t Co.

[kanejones]

Who is going to the meeting today?

[Oiler]

Who is going to the meeting today?

I am about to jump on a plane in a few minutes and head to the meeting. Thats if we dont get blown off course :eek2:

[GR8DAY]

....can anyone and everyone who is attending please give an unbiased report to Sharetrader on their return..cheers. Please also pay particular attention to the "goodies" on the table (esp the savories).......this cud well give us our best indication as to wether things are looking up or otherwise. Better still take note if any left-overs are returned to the baker or distributed among the directors afterwards.......that'll be a sure sign we are about to start producing gold in the near future. Just my thoughts.

[Cannibal]

HGD

23/09/2010 11:25

ADDRESS



REL: 1125 HRS Heritage Gold NZ Limited


ADDRESS: HGD: 2010 AGM Chairman's Address


2010 ANNUAL MEETING

CHAIRMAN'S ADDRESS


For Heritage, one of the most important company making events occurred in

December last year when we were granted a mining permit by the New Zealand

government. It was a long time coming, but it does transform your company

from being a simple explorer.



There also has been a very important and positive change in attitude both by

the New Zealand government and also by global groups about the prospectivity

of New Zealand, particularly for precious metals. The possibility of a

resource rent tax and continuing political uncertainty over who is running

their country has also engendered interest from across the Tasman.


Gold last week reached a historical high of US $1270 an ounce.
Craigs Investment Partners' September newsletter forecasts the gold price will be US

$1337 at the end of 2010 and US $1425 at the end of 2011. There is even

speculation that the price may reach US $2000 an ounce in the future.



In New Zealand dollar terms, gold increased in value over the last 12 months
by roughly 23.2% or NZ $330 an ounce (see chart below). Silver
over the same period increased from NZ $20.00 to NZ $28.50 an ounce. This
will have a significant impact on the economics of developing our gold and
silver resources.

Our current objective is to delineate approximately 500,000 resource/reserve
ounces of gold, which should enable us to complete a bankable feasibility
study and justify the capital cost of establishing a new operation at the Talisman. Having said that, the current gold price has
significantly improved the underlying fundamentals and value of this important New Zealand
resource. It is worth remembering that over 1,000,000 ounces has already been produced historically from this rich mining area.

During the year management has been focusing on putting in place the necessary processes and approvals which are required in New
Zealand to undertake mining. These include gaining access approval and identifying the resource consents needed under the Resource Management Act.


We have also been updating an earlier scoping study and have appointed Auckland investment bankers Campbell MacPherson to assist us to
find a suitable joint venture partner.


We see getting Talisman into production as our primary focus in New Zealand.

In addition, we will continue our exploration efforts as set out more fully in the annual report.
BROKEN HILL PROSPECTING LIMITED

Another area where we have been busy is at our 28% owned Broken Hill base
metal project at Thackaringa, which we manage. The discovery in 2009 of Broken Hill-style mineralisation on our licence has
significantly increased the prospectivity and potential of our investment. You will have seen our recent announcement, which included confirmation of the
JORC-compliant inferred cobalt resource at Thackaringa which further exploration should increase.

We have agreed with the Board of Broken Hill Prospecting Limited (BHPL) to list the company. As a prelude to this BHPL raised
approximately A$800,000 last month in pre-IPO funding to allow for the cost of bringing the company to market and also to expand our current exploration program
aimed at delineating further Broken Hill-style silver lead zinc mineralisation and cobalt resources.

Interestingly, BHPL is a New Zealand incorporated company and, as we foreshadowed last year, shareholders of Heritage Gold will be
offered priority entitlement in the forthcoming new issue for Broken Hill Prospecting Limited.
Application will be made to list BHPL on the New Zealand as well as the Australian stock exchange.

We will be writing to you shortly with further details, however at this stage we envisage raising approximately A $5 million through the
issue of 25 million A $0.20 shares with attaching options. Both myself and Peter Atkinson will remain directors of BHPL.

Listing of BHPL will add significantly to the value of Heritage Gold's investment and raising capital specifically for Broken Hill
Prospecting's needs will reduce the joint venture demand for funds.

We expect to issue a prospectus in October and raise funds for listing in November.

Peter Atkinson will update you on Heritage and its investment in Broken Hill Prospecting.
During the year, as a result of the relative lack of interest by international investors in New Zealand gold projects, the board
took the view that we should be expanding our horizons. We decided to look for possible large-scale high grade epithermal gold targets in which,
together with our consultants, we have significant expertise.

We have identified New Guinea, both Indonesian New Guinea and Papua New Guinea, as having potential for large-scale high value gold
exploration targets. The company is currently looking at two projects which we believe could be very attractive and would add value and market
interest in Heritage Gold's shares. We hope to be in a position to make a further announcement once our negotiations are complete.

Small public companies such as Heritage suffer from a lack of market interest as we are mostly below the radar of professional investors.
Nevertheless, the significant value in our underlying assets is recognised by major mineral groups and, it is to be hoped, as we develop them, by the local
markets.

Finally, I would like to thank our Managing Director for his efforts on behalf of the company and our shareholders for their
wholehearted support of our capital raising last December. We remain in a sound financial position with funds of approximately NZ $1.5 million.

Westpac Bank Gold Price NZ$ from Q3 2008 to Q3 2010

Geoffrey G Hill

Chairman

23 September 2010

End CA:00200116 For:HGD Type:ADDRESS Time:2010-09-23 11:25:58

[Landyman]

Oh no, they have given up talking about a JV partner now. In C3-P0's words........"we're doomed".

[Odd Fellow]

Heritage used to own 33% in Broken Hill,
now in the latest report it is only 28%,
wounder what is going on.

Cheers

[KS]

Heritage used to own 33% in Broken Hill,
now in the latest report it is only 28%,
wounder what is going on.

Cheers

In announcements of 16 Sep and 20 Sep:
'Heritage Gold owns 33% of Broken Hill Prospecting Limited (BHPL)'

23 Sep Chairman's Address:
'Another area where we have been busy is at our 28% owned Broken Hill base metal project at Thackaringa, which we manage.'

Do we (Heritage) still own 33% of BHPL?
Does BHPL share the Thakaringa prospect with anyone else?

[GR8DAY]

...I suspect the other 5% has been forfeited to the banks as a penalty for the slow progress in trying to decide what to do with our assets over the past decade or so.......at current GPs we shud be pulling that gold resource out of the ground and selling it onto the Spot Market like there's no-tomorrow!!

[BigBob]

In announcements of 16 Sep and 20 Sep:
'Heritage Gold owns 33% of Broken Hill Prospecting Limited (BHPL)'

23 Sep Chairman's Address:
'Another area where we have been busy is at our 28% owned Broken Hill base metal project at Thackaringa, which we manage.'

Do we (Heritage) still own 33% of BHPL?
Does BHPL share the Thakaringa prospect with anyone else?

According to the presentation: "After seed capital share issue Heritage retains 28% equity (value ~NZ$3M after IPO)"

[KS]

thank you BB

[Landyman]

Does any AGM attendees have information other than the official line, Im expecting there were some hard questions asked of the board, though Im also expecting there responses to be relatively vague. THere wasnt a gold coin donation at the door by chance - start of capital raising?

[Paint it Black]

Does any AGM attendees have information other than the official line, Im expecting there were some hard questions asked of the board, though Im also expecting there responses to be relatively vague. THere wasnt a gold coin donation at the door by chance - start of capital raising?

I think the AGM was much as we expected - no big announcements. Thackeringa was presented very positively by Peter A and Geoff H and yes a capital raising is on its way soon for this. There were a good number of questions all politely but firmly put. The idea of going it alone without the JV to start getting some of the gold out was discussed and not completely dismissed by the board - they are continuing to discuss all options in the next day or so. Peter A said that the cost to recover an oz was around $900 NZ which compared very favourably with the $1700/oz to sell. I think he mentioned a cost of around $4-5 million to start doing this by ourselves. Geoff H and Peter A stated their desire to get the project moving asap and I believe them. Warwick Grigor was also in attendance and was reelected so this to me was another good sign strategies and decisions are being made. Peter A reiterated that the resource consent consultations are running smoothly but that they would wait until a JV (if that is the way forward) before they lodged. In summary it was a good turn out - a positive presentation and plenty of questions.

[JBmurc]

so overall shareholders get ready to front up with some extra funds for a move on the gold assets

sorry mate bit rough.........fixed up now

[GR8DAY]

JB what are you on m8 (no offense).....but cud you put that in Engleeeesh please?

[Landyman]

SOmeone got warm fuzzies from yesterdays AGM, kicking off thet day at 3.1, nice

[Ponda]

SOmeone got warm fuzzies from yesterdays AGM, kicking off thet day at 3.1, nice

Some nice orders foloowing up behind it at 3 cents and HTM;ASX is also looking for a good start.
I think that there was some nice warm fuzzies from yesterday. Long may it continue, I say

[Oiler]

I think the AGM was much as we expected - no big announcements. Thackeringa was presented very positively by Peter A and Geoff H and yes a capital raising is on its way soon for this. There were a good number of questions all politely but firmly put. The idea of going it alone without the JV to start getting some of the gold out was discussed and not completely dismissed by the board - they are continuing to discuss all options in the next day or so. Peter A said that the cost to recover an oz was around $900 NZ which compared very favourably with the $1700/oz to sell. I think he mentioned a cost of around $4-5 million to start doing this by ourselves. Geoff H and Peter A stated their desire to get the project moving asap and I believe them. Warwick Grigor was also in attendance and was reelected so this to me was another good sign strategies and decisions are being made. Peter A reiterated that the resource consent consultations are running smoothly but that they would wait until a JV (if that is the way forward) before they lodged. In summary it was a good turn out - a positive presentation and plenty of questions.

Well said P.I.B and thank you for pushing with all your questions. :t_up:
I was watching closely there body language as you put your questions and I dont think at any point did they squirm, which to me indicated that the board had considered every option.

They seem very well informed and understand the RMA.

Certainly things are moving, not as fast as would all like but I do see progress.

Warwick Grigor stayed for this meeting which was a plus even though he didnt say anything (he is the quiet type by nature) but I noted he was reviewing the BH Cobalt documents while the meeting was in progress.

[tobo]

From the meeting presentation: Peter Atkinson will update you on Heritage and its investment in Broken Hill Prospecting.
During the year, as a result of the relative lack of interest by international investors in New Zealand gold projects, the board took the view that we should be expanding our horizons. We decided to look for possible large-scale high grade epithermal gold targets in which, together with our consultants, we have significant expertise.

We have identified New Guinea, both Indonesian New Guinea and Papua New Guinea, as having potential for large-scale high value gold exploration targets. The company is currently looking at two projects which we believe could be very attractive and would add value and market interest in Heritage Gold's shares. We hope to be in a position to make a further announcement once our negotiations are complete.

Small public companies such as Heritage suffer from a lack of market interest as we are mostly below the radar of professional investors.
Nevertheless, the significant value in our underlying assets is recognised by major mineral groups and, it is to be hoped, as we develop them, by the local
markets.

It seems to me that management is investigating every and any circuitous route to getting Talisman into production without having to go it alone with the capital costs:
1) Isolate BHPL - not sure of all the implications, but HGD won't HAVE keep contributing funding if it doesn't want to, and could even sell its shares. (Could be a wealth creator, or could be two cash drains instead of one.) And means HGD becomes a one-mine company (ignoring northland for a moment).
2) Focus on-ground work on Talisman : delineate 500,000oz resource and prepare BFS (Do we have a time frame, people?)
3) keep looking for a JV (no leads yet, and may not happen with current company structure)
4) add a completely new project, in another country (New Guinea)

It feels to me that just when we shake free from BHPL so we can focus on action at Talisman, we embark on another venture that could potentially dsitract attention.
Another perspective is that management see our fortunes not is digging gold, but in re-ratings of the shareprice through restructuring the business. (Management have turned down low-ball offers in the past, so I think they see time as not a big issue as long as they eventually find the right lock to put they gold key into.)

So I have some questions.
a) What do we think the time frame will be to delineate 500,000oz resource and prepare BFS (Not how long it usually takes by companies that release a dozen testbores at a time, but how long with it take for HGD). [Not a slanging match. Realistic estimate.]

b) What do you think of going into New Guinea

[Paint it Black]

From the meeting presentation: Peter Atkinson will update you on Heritage and its investment in Broken Hill Prospecting.
During the year, as a result of the relative lack of interest by international investors in New Zealand gold projects, the board took the view that we should be expanding our horizons. We decided to look for possible large-scale high grade epithermal gold targets in which, together with our consultants, we have significant expertise.

We have identified New Guinea, both Indonesian New Guinea and Papua New Guinea, as having potential for large-scale high value gold exploration targets. The company is currently looking at two projects which we believe could be very attractive and would add value and market interest in Heritage Gold's shares. We hope to be in a position to make a further announcement once our negotiations are complete.

Small public companies such as Heritage suffer from a lack of market interest as we are mostly below the radar of professional investors.
Nevertheless, the significant value in our underlying assets is recognised by major mineral groups and, it is to be hoped, as we develop them, by the local
markets.

It seems to me that management is investigating every and any circuitous route to getting Talisman into production without having to go it alone with the capital costs:
1) Isolate BHPL - not sure of all the implications, but HGD won't HAVE keep contributing funding if it doesn't want to, and could even sell its shares. (Could be a wealth creator, or could be two cash drains instead of one.) And means HGD becomes a one-mine company (ignoring northland for a moment).
2) Focus on-ground work on Talisman : delineate 500,000oz resource and prepare BFS (Do we have a time frame, people?)
3) keep looking for a JV (no leads yet, and may not happen with current company structure)
4) add a completely new project, in another country (New Guinea)

It feels to me that just when we shake free from BHPL so we can focus on action at Talisman, we embark on another venture that could potentially dsitract attention.
Another perspective is that management see our fortunes not is digging gold, but in re-ratings of the shareprice through restructuring the business. (Management have turned down low-ball offers in the past, so I think they see time as not a big issue as long as they eventually find the right lock to put they gold key into.)

So I have some questions.
a) What do we think the time frame will be to delineate 500,000oz resource and prepare BFS (Not how long it usually takes by companies that release a dozen testbores at a time, but how long with it take for HGD). [Not a slanging match. Realistic estimate.]

b) What do you think of going into New Guinea

Two good questions Tobo

My penny's worth is:

a) Geoff H I believe said drilling starts before this Xmas. To prove the resource is unclear however. The important thing to me is that a strategy is in place to do this which will put the pressure on JV suitors who will know the joining fee may rapidly climb as the core samples come to the surface.
b) I'd rather we got runs on the board at Talisman and Thackaringa. PNG could be a wild goose chase which we could well come a cropper on. Having worked up there for 3 years in the early 90's PNG was already crawling with international mining companies with not a high percentage succeeding. Having a local partner (not an equity partner however the meeting was told) is essential but with the life spans of the government being short the ongoing allegiance of any partner may prove expensive.

[clarky]

Listed Kiwi mining exploration company Heritage Gold has not discounted wealthy suitors from the east to help in its search for gold.

Heritage on Friday confirmed an initial public offer in November of one of its investments.

It is also seeking a joint venture partner to finally commercialise one of its promising gold mines.

Heritage said Broken Hill Prospecting, in which it has a 33 per cent shareholding, would issue a prospectus next month and look to raise funds for a dual listing on the NZX and ASX in November.

As a prelude to the IPO, Broken Hill Prospecting raised about A$800,000 last month.

Heritage chairman Geoff Hill said the cash would help bring the company to market and also expand the current exploration programme in Australia near Broken Hill in New South Wales.

It hopes to raise A$5m through the issue of 25m A$0.20 shares with attaching options.

Mr Hill, based in Hong Kong, told shareholders at the annual meeting there was significant interest in China in resources including gold.

"And New Zealand, because it's got a free trade agreement with China. It is one of the favoured areas as far as the authorities are concerned," he said.

"There is significant interest in New Zealand's resource base – agricultural, timber and mining – and we have had two or three Chinese groups come and talk to us."

Pressed on why a Chinese backer had not yet been secured, Mr Hill said China, as a one-party state, made all decisions at the top.

"It takes anything up to 15-18 months for them to get their processes together to get a deal done.

"It does take time and it is a bureaucratic process but there is significant interest and we're already seeing some of that.

"We just have to be patient.

Heritage's share price is currently at 2.8 cents from a high of 6c this year.

Mr Hill said while the Chinese were the world's largest gold producers, they were also the largest consumers of it. Consumption was driven by the growing middle class.

"The Chinese government 15 months ago said to all the major state-owned corporations, effectively, `go out, use your overseas profits and reserves you've earned and invest them in long-term strategic resources around the globe, including gold but also iron ore and coal'."

He is on the board of an Australian mining company that has a Chinese partner.

"They've got $500m to spend this year on investment and new acquisitions and they've got a war chest of a couple of billion dollars over the next three years."

[Tanger]

The one big thing they kept on reiterating at the AGM was that the share price was being held back by a lack of visibility around the company. I think they made it quite clear that there would be a few announcements between now and Christmas in relation to the companies activities, most notably, the Broken Hill IPO, and the potential new venture in New Guinea. Re the gold projects, my take on the AGM was that they were no closer to securing a Chinese investor, therefore the investment bank had been retained to push the net out further afield. They realised that if they could prove the resource up to 500,000 oz then this would be more appealing, but also acknowledged that to do that would cost money, and therefore, it wasn't something that was immediately on the radar.

Also of interest was the fact that they were doing a lot of work behind the scenes in relation to the consents needed to push forward with the mining. However, there was also an acknowledgement that it wasn't likely that they would apply for these consents until a JV partner was secured. Therefore, it appears unlikely that they would go down the route of undertaking a small scale mining operation by themselves. From memory, there was a figure mentioned of $48m in order to get the mining up and running on the scale they have previously been looking at (approx 50,000 oz per year ramping up to 100,000 oz).

All in all, the meeting did seem positive, and Geoff did acknowledge that unlocking shareholder value was top of the list of priorities for the company. On that basis, I suspect the following year could be a bit of a rollercoaster for shareholders as the share price moves up on good news and then drifts back after the initial excitment.

[whatsup]

Someones buying today ---goodie !!

[clarky]

its flying high today!

[Odd Fellow]

Pssst.... don't scare them off...

[whatsup]

Someones buying today ---goodie !!

Up 23% on this day!, goodie !!

[GR8DAY]

.......gotta say the steady rise over the last week or so has been impressive.....not sure what it's all about but trending nicely back to where it was a year or so ago. I guess that in-ground resource must be worth a considerable fortune now and perhaps the possibility of a JV surfacing is now just a whole lot more likey?? Anyway, still happy to hold for the long term.

[mistymountain]

I am watching with interest to see how the SP performs through the rest of 2010.

It would be really great if for loyal investors if HGD could beat history and sustain an uptend right through 2010/2011.

However, history would say that traders will have a field day with significant capital gain over the short term while the buy and holders will be fustrated.

A capital gain of 23% is impressive but this is off a tiny SP and remember a 15 % falll will see the SP back to square one.

[GR8DAY]

.....all true MM....but every share has its day (or year). Who wud have believed OGC sat at 22c for how long......purely on poor sentiment.......now look at the price. If sentiment for HGD turns positive (as might be happening now) ....the SP cud well firm up over coming weeks and months. If they can confirm a resource of 500,000 oz Au (as they are hoping for) then things shud take off from there........................IF??

[whatsup]

I am watching with interest to see how the SP performs through the rest of 2010.

It would be really great if for loyal investors if HGD could beat history and sustain an uptend right through 2010/2011.

However, history would say that traders will have a field day with significant capital gain over the short term while the buy and holders will be fustrated.

A capital gain of 23% is impressive but this is off a tiny SP and remember a 15 % falll will see the SP back to square one.


Thanks M M please let me live in gaga land until that happens, dont spoil my dream party!!

[whatsup]

Thanks M M please let me live in gaga land until that happens, dont spoil my dream party!!


.04 today goodie!

[whatsup]

.04 today goodie!




OPPS got ahead of myself BUY== .038.
SELL==.04

Darn!!

[Paint it Black]

OPPS got ahead of myself BUY== .038.
SELL==.04

Darn!!

Looks like HTM has woken up as well!

[mistymountain]

History does repeat... SP Heading back to $0.03.

My advice if wanting to become a new HGD investor is to wait and watch. At the first inkling of significant market interest buy up large. Take the 30% capital gain then sell fast. The SP will drift back once more for another buying op a few months later. Do not buy and hold. (unlike OGC).

My thinking is November for the next spike and subsequent fall through Dec / jan.

Good luck!

[Tanger]

I think they said at the AGM that the BHP prospectus was to be issued in October with the IPO to be undertaken in November. Based on this, I would assume the share price will hold at its current levels until the prospectus is out, and then go on a little run upwards. Based on past form, I'd expect there to be a bit of other "good" news to be released either around or just before the capital raising. Perhaps some more news on the New Guinea operations.

But after that, you might be right MM. It will continue to do this until either they find their JV partner or prove the resource levels up to 500,000 oz.

[GR8DAY]

MM.....you cud be right, you cud be wrong? Im wondering if perhaps a new "maturity" is creeping into the SP (Shareholders)......I still hold and like many dont see any great need to sell at the moment. With the GP sooooo high now and looks to be well supported now above $1200poz (today $1340), combined with the prospects of A a JV partner closer than ever and the Broken Hill listing on the horizon then things maybe, just maybe, be on the UP?

[Logen Ninefingers]

What do HG share-holders get out of the Broken Hill listing?

[Tanger]

They mentioned at the AGM that HGD shareholders will be given a right to take up shares in the IPO (not sure if at a discount or if through options etc). Hopefully further details when the prospectus comes out later this month.

[blackcap]

Looks like the wind has been taken out of its sails already.... anyones guess when 2.5 cents is back on the cards?

[mistymountain]

Looks like the wind has been taken out of its sails already.... anyones guess when 2.5 cents is back on the cards?

Just before the next SP ramp when the Company announces some positive news. This will be the time to buy. Watch. Wait. Pounce. Then sell after the 30% - 50% gain before you loose the profit.

[blackcap]

seriously under the cosh today... not many buyers left. Could be time to buy a few soon. Picking between 1.9 and 2.3 cents as a good starting point :)

[Landyman]

Gold at record highs, if only someone could prove the good stuff is there, SP, 4, 5, 6, 7 cents?

[clarky]

i can vouch for it...

[Landyman]

clarky, can you stop stealing it then. Leave some for HGD (who dont seem to care whether its there or not)

[Tanger]

So, they are going ahead with the BHPL IPO. It even has its own website. Lets hope they can generate sufficient interest.

[chippy52]

According to thier website the offer will close this month . Seems a bit tight timewise seen as the docs aren't out yet .

http://www.bhpl.biz/inner.asp?pcat2=investinginbhpl&pcat=IPOinformation&cat=Offerstatistics

[Landyman]

MM crystal ball seems to be working still, the drift back to 2c is almost complete. Be a great day when HGD can prove everyone wrong!

[GR8DAY]

It'll happen m8......just keep accumulating and one day you'll wake up with a smile on your face.

[BigBob]

Well it doesn't help that you can't actually download the prospectus for Broken Hill from the http://www.bhpl.biz website. The "I agree" button http://www.bhpl.biz after the terms is greyed out and can't be clicked... I suppose that if anyone was really interested they would have let the company know... :o)

[Paint it Black]

I contacted Geoff Hill and he expects the prospectus to be live in approximately a week to 10 days. Sue Sangster can help in Auckland.

[Tanger]

The prospectus is available. Interesting to note that the offer is not underwritten (there seemed to be some confusion at the HGD AGM as to whether or not is was underwritten). 162 page document, so will take a bit of time to digest.

[BigBob]

The prospectus is available. Interesting to note that the offer is not underwritten (there seemed to be some confusion at the HGD AGM as to whether or not is was underwritten). 162 page document, so will take a bit of time to digest.

Have digested some of it now - no underwriting, priority entitlement for HGD shareholders on the register on October 14 (so no mad rush on HGD shares to get those entitlements :o) ), the minimum subscription is for A$2m and if they don't get it within 3 months they may cancel the listing and return funds, they have the right to oversubscribe by A$2m too by the way, one option for every two shares, expiry is 3 years after listing, exercise price A20c...

So..... Who's in...?

I think I might give it a miss...!! There should be some cheap options available on market when (or should that be if) they list....

[kanejones]

Very quiet of late. What did people think of the latest report? The final sentence could be of interest:

"The company is currently reviewing a project which we believe could be very attractive and would add value to Heritage Gold's shares"

[blackcap]

How often have we heard this before? :)

[brettdale]

early 2007, mid 2007, late 2007,early 2008, mid 2008, late 2008,early 2009, mid 2009, late 2009,early 2010, mid 2010, late 2010.

and so on and so on

[hidad]

This company moves far to slow , i mean you get people with alot of get up and drive in them but they dont seem to have one. Gold at all time high and HGD going nowhere fast.

[Landyman]

HGD's strongest point is that they are consistent, though as a shareholder I would prefer they changed their ways to consistent overperformance rather than under

[blackcap]

Its easy money though.... buy at between 1.8-2 cents... sell at 3.5. Repeats itself every year ;)

[kanejones]

Looking a bit sick on the Australian market...

[Tanger]

A bit of a lift recently (on no new information). Gold price just keeps on rising, so hopefully someone will want to JV soon.

It will also be interesting to see how successful the Broken Hill IPO is. As an HGD shareholder, I have't received anything through from the company about the priority allocation (perhaps it isn't needed).

[whatsup]

Lift in both markets today along with the chairmans offer letter, whoes takinh up how many ?

[blackcap]

Lift in both markets today along with the chairmans offer letter, whoes takinh up how many ?

At 20 cents will take some up... not a big allocation but some just to keep the hand in so to speak. Free options always worth something with plenty of time left.... :)

[blackcap]

thats a bit rich, just had a quick perusal of the prospectus... costs of 930,000 to raise 5 million... seems bizarre..

and after more perusal, seems all other shares were issued at 10 cents. Not for me after all....

[hidad]

Who else out there got a phone call from Broken Hill ltd wanting to know if you are going to take these shares and options up. Does anyone think this could be a good deal.

[JBmurc]

well hasn't the tune for HGD changed with yet again another raising I took my profit an ran without looking back before the last one and have no plan to re-enter till HGD take correct steps to actually look to Mine Gold not just talk up pospective areas of ownership 20yrs+ of talking the talk an getting paid for it by shareholders very sad

[blackcap]

I got a phone call too... rather pleasant chap and told him exactly why I would be passing on this allocation as well... he seemed to understand :)

[Tanger]

Interesting extract from an article in the Herald today (I think reported in the ODT oringinally). Sure hope there is some action coming up in the North Island soon as well!!!

"Several of the almost 300 delegates, who asked not be named, reeled off the names of three private Australian companies "looking very seriously" at coming to the South Island next year for gold, and also talk of a large Chinese company preparing to announce a southern foray in coming weeks.

Some gold seekers are expected to raise equity, with one considering a listing.

A foray by Australians is not inconceivable as their resource sector is well into recovery mode and New Zealand offers a tighter range of prospects, with many areas offering well documented historical data through Crown Minerals."

[Landyman]

FAIL!

"Broken Hill Prospecting Limited has agreed to extend the closing date from 6
December 2010 to 20 December 2010"

[Landyman]

First attempt I'd say probably.....

...or is there some "bigger & better" news to follow soon???

Gold price is bigger and better.......

[Cannibal]

First attempt I'd say probably.....

...or is there some "bigger & better" news to follow soon???

Someone does not think so - down 20% today...

[Landyman]

Time to buy......

Looks like someone needed cash by the weekend....2.1

[clarky]

RAB Drilling at Himalaya North & Pyramid Hill, EL 6622

16 December 2010

RE: ANNOUNCEMENT BY HERITAGE GOLD NZ LIMITED (ASX: HTM, NZSX: HGD)

FOR IMMEDIATE RELEASE

RAB DRILLING AT HIMALAYA NORTH AND PYRAMID HILL, EL 6622 THACKARINGA PROJECT NEAR BROKEN HILL NSW
Highlights
- Strongly anomalous copper and base metal results from RAB samples

- Lode bearing rocks identified over 500 metre length at each prospect

- Continuity of extended target zones confirmed

- Lode bearing rocks indicated outside the areas drilled
A follow-up close spaced Rotary Air Blast (RAB) drilling program on EL 6622 has been completed at the Himalaya North and Pyramid Hill prospects for a total of 3130 metres (m) from 954 holes, with an average depth of 3.3 m.
The follow-up program was designed to geochemically and geologically refine the near surface footprint of these highly prospective Broken Hill Type (BHT) mineralised lodes, which were originally outlined by detailed geological mapping and gossan sampling, combined with wider spaced RAB drilling.

Refer to pdf attachment for map of Thackaringa Base Metals Project – EL6622 near Broken Hill, NSW.

Himalaya North Prospect
Follow up RAB drilling to the south and infill drilling to the north of the Himalaya North prospect has been completed. Samples were analysed by the AMDEL Laboratory in Adelaide and detailed geological logging of the drill chips has been completed.
The data collectively indicate very positive results.
- The persistent lode rock bearing target zone has now been extended to over 500 m in strike length and may extend for up to 1000 m, providing a larger target area for deeper drilling.
- Additional lodes have been mapped further to the north, suggesting a third zone of interest outside the areas currently drilled.
- Surface gossan sampling of the lodes has previously yielded highly anomalous geochemical values.
Assay results are summarised below in Table 1 and indicate a level of anomalism that is very encouraging.
Table 1
Copper (ppm) Lead (ppm) Zinc (ppm) Manganese (ppm)
Minimum 1 10 11 140
Maximum 2200 6000 2400 30300
Moderately Anomalous* 330 500 620 6270
Highly Anomalous** 540 810 920 10100

* Moderately anomalous > 91% of samples
** Highly anomalous > 97% of samples
A shallow reverse circulation (RC) drilling program of 6 angled holes, each about 100 m in length, has been designed to test the main target zone. Drilling will commence in early 2011.
Pyramid Hill Prospect
RAB drilling has now been completed over the entire target zone which has a length of at least 500 m. Samples were analysed by the AMDEL Laboratory in Adelaide and detailed geological logging of the drill chips has been completed.
Assay results are summarised in Table 2 below and are most encouraging.
Table 2
Copper (ppm) Lead (ppm) Zinc (ppm) Manganese (ppm)
Minimum 3 10 14 125
Maximum 4300 140 415 5900
Moderately Anomalous* 450 50 150 1170
Highly Anomalous** 770 60 210 1670

* Moderately anomalous > 91% of samples
** Highly anomalous > 97% of samples
Positive results include:
- Further continuity established for the tightly folded lodes, with higher copper values reported from under shallow soil cover.
- Strong geochemical anomalism in RAB samples supports earlier gossan sampling which gave strongly anomalous geochemical values.
A shallow RC drilling program of 6 angled holes, each about 100 m in length, has been designed to test the main target zone. Drilling will commence in early 2011.

COMPETENT PERSON STATEMENT:
The information in this report that relates to exploration results is based on information compiled by Mr. Wolfgang Rudolf Leyh MScApp; MScQual; BScApp. Mr Leyh is an independent consulting geologist who is a corporate member of the AusIMM. Mr Leyh has sufficient experience which is relevant to the style of mineralization 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 Leyh consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.


Peter Atkinson
Executive Director
Heritage Gold NZ Limited


About Heritage Gold

Heritage Gold (NZ) Limited is a leading New Zealand, dual listed (NZSX: HGD, ASX: HTM) minerals exploration company with over 1600 Australasian shareholders and a portfolio of high quality mineral prospects in both countries.

Heritage Gold owns 29.78% of Broken Hill Prospecting Limited (BHPL), which is planning to develop a cobalt project at Thackaringa, about 20 km southwest of Broken Hill in New South Wales. BHPL has identified several new Broken Hill-style base metal occurrences, as well as a near-surface cobalt deposit.

BHPL has recently registered a prospectus for its IPO and is seeking listing on the ASX and NZSX.

[hling]

RAB Drilling at Himalaya North & Pyramid Hill, EL 6622

16 December 2010

RE: ANNOUNCEMENT BY HERITAGE GOLD NZ LIMITED (ASX: HTM, NZSX: HGD)

FOR IMMEDIATE RELEASE

RAB DRILLING AT HIMALAYA NORTH AND PYRAMID HILL, EL 6622 THACKARINGA PROJECT NEAR BROKEN HILL NSW
Highlights
- Strongly anomalous copper and base metal results from RAB samples
.......

Another way to suck shareholders.

[GRIFFIN]

Just like this time last year when some fronted with 10 grand with expectations of HGD doing some thing this year. Yea Right. The directors have a good Christmas though.

[hidad]

Im with you Griffin , how long can they keep going on like this, its been going on for years. What do they really use our money for , to give the directors a good life style?

[mistymountain]

Just like this time last year when some fronted with 10 grand with expectations of HGD doing some thing this year. Yea Right. The directors have a good Christmas though.

Agree 100 %. HGD will do the same next year before Christmas too!

[Landyman]

I wonder how many more times the will extend the closing date. Maybe Gerry Brownlee could force all on benefit to start digging holes in the ground.

No HGD Christmas present this year, maybe next?

[BigBob]

You guys are far to harsh on HGD....

They are really, really busy!

They have already developed a "comprehensive list of target companies" for forming a joint venture for Talisman according to the recent half-yearly. It must have been extremely hard too because it's taken them 12 months to do that. But truth be told they didn't do it on their own, they had help from an investment bank. Truly formidable progress....!! At this rate, they might even have a shortlist by the time the resource consent expires in four years...

[GRIFFIN]

So well put B.B,The name of this company confuses me though, Heritage certainly fits well because they have been around for years on the exchange doing zip but the bit that sure as hell does not fit is the Gold part of the name. Can any one out there explain to me why gold is connected to this outfit. At the moment i am bombarded with emails,letters phone calls about some wee play they want to mess around with in Aussie and its not gold.

[Tanger]

I wouldn't mind knowing how much HGD is spending "promoting" the IPO of BHPL. I seem to be getting mail from HGD weekly at the moment. Given So Co is the major shareholder in BHPL, and also the largest shareholder in HGD, it seems they just sit back and let the rest of the HGD shareholders fund everything. Why would HGD shareholders want to take up their "priority entitlement" (not sure this is a particularly apt name), when it seems they are struggling to get investors, and HGD shareholders already have an exposure via HGD's shareholding. Until we start to get some concrete evidence that the HGD directors are putting their own money into this, I won't be giving them a cent. And that goes for future capital raisings by HGD as well.

[BigBob]

Until we start to get some concrete evidence that the HGD directors are putting their own money into this, I won't be giving them a cent. And that goes for future capital raisings by HGD as well.

Hear, hear! They are only trying to raise about $5mill - you would think that some of the "high nett worth individuals" or "experienced investors" involved with both companies could stump up enough cash to underwrite the IPO, which in turn might just get us mere mortals interested too....

[blackcap]

I still think its a bit on the nose asking us plebs to stump up 20 cents per share while the other insto and experienced investors got them at 10 cents.... can HGD explain this one?

[mistymountain]

I still think its a bit on the nose asking us plebs to stump up 20 cents per share while the other insto and experienced investors got them at 10 cents.... can HGD explain this one?

I'm not HGD but from their track record it's so that mum and dad investors will suffer a 40 % capital loss following the capital raising.

Look at the HGD special share release from 12 months ago: sold to loyal investors at $0.035 now valued at $0.024.

[Landyman]

Best wishes to the loyal HGD shareholders, maybe 2011 will be the year.

[Paint it Black]

The best way for the HGD directors to attract finance for Thackaringa is to give us some positive news at Talisman. We have heard nothing yet from the investment bankers and the drilling campaign to delineate to the 500,000 oz which is disappointing after the stated desire of Geoff H and Peter A at the last AGM to get things moving there. My worry is if I invest in Thackaringa the SP will similarly wilt away as it has with HGD. Give me some feedback next week from the bankers and I'll think about Thackaringa - surely they are back from their holidays next week!

[GRIFFIN]

So true Paint it Black my thoughts are they are using Thackaringa as a smoke screen for their inability to advance with the core NZ business.
A lot of share holders have invested in this company with the expectation of some strong advancement in the NZ sector but sadly it is just not taking place.
You are so right why would anyone front with the cash for Thackaringa when they have not delivered with what HGD has in NZ stagnant at this time.




is no further ahead than years ago

[Ponda]

Sorry guys, this is a serious question but NOT related to HGD:
I seem to remember some time ago reading about a poster that has an interest in a gold mine and that they were selling it??
Does anyone know who it was? And if its you can you PM me I have a couple of questions. I'm going to be away from my computer for a few hours but I'll check later.
Sorry for intruding on the rivoting action with Heritage

[Landyman]

How many months have they got left before the permit expires, and what was the detail round "need to be mining before it expires"? I wonder what HGD consider the definition of mining is - maybe just thinking about it is enough. Im going back to watching my paint dry, its happening more quickly than the HGD JV partner!!

[STRAT]

Geez fellas. This one really is a shocker. I hope yall live long enough to get something out of it.
Id be checking the age of the Directors. If they are younger than you. Forget it.

[STRAT]

the last one was roughly from the start of the thread. This ones as far back as I can get.

[mr.needs]

the last one was roughly from the start of the thread. This ones as far back as I can get.

Forgive my ignorance on the history of the company, I haven't been around that long. But what exactly were HGD doing through the 90s? Was it something entirely different to today? Or has it taken 20 odd years to gain a permit to mine?

[Aotea]

Hi Ponda,

That could have been me, I once held HGD, and I recently sold my claim. Will be setting up two new ones in Tasman over the next 12 months, both with juicy gold...


Sorry guys, this is a serious question but NOT related to HGD:
I seem to remember some time ago reading about a poster that has an interest in a gold mine and that they were selling it??
Does anyone know who it was? And if its you can you PM me I have a couple of questions. I'm going to be away from my computer for a few hours but I'll check later.
Sorry for intruding on the rivoting action with Heritage

[STRAT]

Forgive my ignorance on the history of the company, I haven't been around that long. But what exactly were HGD doing through the 90s? Was it something entirely different to today? Or has it taken 20 odd years to gain a permit to mine?Hi Mr Needs.
How you doin?
I cant answer that question Im sorry other than to say depreciating the value of stock holders positions.

[Ponda]

Thanks for that Aotea. I was curious about a couple of things but no worries.

The ASX likes the Ann today - up nearly 40% on low volume. Now we can se why we had a big buying spree a couple of days ago on the NZX.
Interesting to note that the Aussies deemed it to be price sensitive and yet we just chucked it into the market.
Maybe if we had called it price sensitive we might have had more interest.

[Landyman]

Maybe if HGD made more/any announcements about whats happening in our own backyard, HGD would be higher than where they are today. Aussies tend to release news even if someone opens the door in the CEO's office and call it price sensitive. NZ, nada - in the case of HGD, that might be the truth though, how many coffees they have sipped isnt price sensitive.

What are the drilling/test updates?
How close are tehy to proving the potential resource?
How many potential partners are there and where they currently based?

Maybe a receiver could do a better job!

[hling]

......

Maybe a receiver could do a better job!

Yap. Totally agreed.

[hidad]

What are the Directors Salaries? They are living from Capital Raising to Capital Raising. Dig some Gold boys, or move aside for someone that will.

[Landyman]

Please say that there is some insider trading and the uplift to 2.7 is more than a blip.....

[BigBob]

Please say that there is some insider trading and the uplift to 2.7 is more than a blip.....

My guess is that it is in anticipation of HGD finally getting its IPO of BHPL off the ground. The closing date for applications is Monday 31st, so with no new extension announced, presumably it's finally going to list...

[Stumpynuts]

Please say that there is some insider trading and the uplift to 2.7 is more than a blip.....

Giggidy giggidy giggidy (a.k.a - Quagmire)

[Tanger]

Presumably there is another quarterly update tomorrow as well. These things must be getting pretty easy to write. "ongoing discussions with JV partners, looking at other options in the Pacific, BHPL capital raising". Essentially, no change to the status quo.

[Stumpynuts]

Presumably there is another quarterly update tomorrow as well. These things must be getting pretty easy to write. "ongoing discussions with JV partners, looking at other options in the Pacific, BHPL capital raising". Essentially, no change to the status quo.

Giggidy giggidy.
Chumps change

[JBmurc]

What are the Directors Salaries? They are living from Capital Raising to Capital Raising. Dig some Gold boys, or move aside for someone that will.

Not while shareholders keep giving them their money think the current BHPL idea would be the nail in HGD coffin 20yrs+ of trying to get a gold mine operational to what they have now pretty sad really...

[moimoi]

correct JB...as i said about 250 pages ago..just an outfit to support a bit of scratching about with a teaspoon on the weekends for the long standing director. They should rename it from heritage gold to weekend prospector.

The most recent annual report states nothing new from the 2001 annual report that i'm keeping for posterity.

Ohh, and for the unitiated they were blathering on about the BHPL listing back then...

In a word...woeful.

[Landyman]

TALISMAN

The Company's corporate advisors, Campbell MacPherson, have indicated that
the search process for a suitable joint venture (JV) partner is progressing
well, with considerable interest shown to date, and approaches to other
prospective JV partners ongoing.


If you are paying CM to find a JV, they would have done it by now. HGD, woeful - sell your Talisman interest and bank some cash!!

[Tanger]

Has anyone heard whether they got enough subscriptions to list Broken Hill Prospecting?

[BigBob]

Has anyone heard whether they got enough subscriptions to list Broken Hill Prospecting?

The company probably forgot that the offer closed yesterday...

[KS]

Broken Hill's board confident of reaching float target
TIM HUNTER
Last updated 05:00 25/01/2011

Directors of New Zealand's first 2011 float – the only one confirmed so far – are confident of achieving their A$3 million ($3.9m) minimum target this month, after twice extending the offer to keep the deal alive.

Broken Hill Prospecting, a mining firm aiming to explore cobalt and mineral resources near Broken Hill in western New South Wales, launched its trans-Tasman prospectus last November, just days before Pike River coalmine's devastating explosion.

Broken Hill director Geoff Hill said the disaster had a significant effect on the New Zealand sharemarket, "but a much more significant effect on anything to do with mining". In the first weeks of December, nothing was happening.

An initial extension of the offer to December 20 had to be pushed out again to January 31, Mr Hill said, "because we miscalculated the desire of the Australian investor public to go on holiday about December 15". With Christmas gone, interest was picking up.

"We got a million and a half in the tin, and we've got commitments of a minimum of A$3m and hopefully A$4m and a bit," he said.

"I'm a cynic – until the money hits the tin, I don't believe it.

"But I'm comfortable we've got A$3m, and will get close to A$5m."

Broken Hill is a New Zealand-registered company, 57 per cent-owned by interests associated with Mr Hill through his private family firm SoCo. A further 28 per cent is owned by NZX-listed mining minnow Heritage Gold, of which Mr Hill is chairman.

The initial public offer is 25m Broken Hill shares at A20c each to raise A$5m, with the company to be listed on the Australian and New Zealand stock exchanges. About half the money is earmarked for an exploration programme in the firm's licence areas at Thakaringa, 30km west of the town of Broken Hill, whose rich silver, lead and zinc resources helped build local mining company Broken Hill Proprietary into the giant now known as BHP Billiton. The hope of similar mineralisations at Thakaringa was the big attraction for Broken Hill Prospecting, Mr Hill said. "We wouldn't have floated it just on the cobalt," he said.

"It's the Broken Hill style mineralisation that gives people the bang for their buck." Ores like those at the original Broken Hill could be worth between $300 and $1100 a tonne, Mr Hill said.

"We've got three potentially commercial outcrops of Broken Hill-style mineralisation, but we've got another 11 to look at which we haven't done too much work on."
Ad Feedback

- BusinessDay.co.nz


DISC: I did not take any BHPL shares.

[Paint it Black]

Has anyone heard whether they got enough subscriptions to list Broken Hill Prospecting?

The allotments are expected on the 7/2/11 dispatch on the 10/2/11 and listing mid February according to Geoff Hill's letter so we will know soon.

[mistymountain]

Hopefully for HGD this works out but I'm just feeling a bit dubious that market will respond positively.

[BigBob]

Heritage Gold is pleased to announce that the initial public offering of base
metal explorer Broken Hill Prospecting Ltd (ASX code BPL; NZSX code BPL) has
successfully raised $4.5 million.
As a result of the capital raising, BPL is expected to list on the New
Zealand and Australian stock exchanges on 15 February. Heritage Gold will
maintain a 21.7 per cent interest in the company after the share issue.

Heritage Gold chief executive Peter Atkinson said, "The Australian and New
Zealand stock exchange listings are being undertaken to accelerate and expand
development of BPL's cobalt and base metal tenements at Thackaringa, near the
mining centre of Broken Hill in New South Wales."

At Pyrite Hill and Big Hill the total inferred cobalt mineral resources have
been estimated at 15 million tonnes with a combined average grade of over 2.1
pounds per tonne (lb/t). The deposits remain open along strike and at depth.

Atkinson says he is pleased with the outcome of the IPO, which was launched
just days before the Pike River Coal disaster in New Zealand, leading to an
extension of the capital raising to 31 January 2011.

He noted that BPL's recent exploration, managed by Heritage Gold,
"encountered strongly anomalous copper, lead and zinc values in lode bearing
rocks over 500 metre strike lengths at Pyramid Hill and Himalaya North base
metal prospects".

A 12-hole follow-up drilling program to test the mineralisation to 100 metres
depth has been partially completed, however very heavy rain in the district
in the last few days has caused drilling to be postponed. "Initial results
are now expected in early March", he said.

Broken Hill hosts the richest silver-lead-zinc ore body of its type globally,
which has been mined continuously for over 120 years, producing around 200
million tonnes of high grade ore, valued at more than $80 billion.

The next generation of miners and explorers is discovering new mineralisation
in nearby areas, using innovative exploration techniques.

[JBmurc]

Wow amazing that anything Heritage Gold was involved with raised 4.5mill for exploration

[mistymountain]

Hopefully for HGD this works out but I'm just feeling a bit dubious that market will respond positively.

Worked out ... and the market did respond with an 8% drop on the news...

[mistymountain]

Worked out ... and the market did respond with an 8% drop on the news...

and another 8% drop today...

[Kees]

BPL listing tomorrow ????

[KS]

BPL listing tomorrow ????

"As a result of the capital raising, BPL is expected to list on the New Zealand and Australian stock exchanges on 15 February."

[Kees]

Thanks bit early be interesting

[mistymountain]

Strange trading today; up close to 30% on 3 trades totalling approx $800.

[Ponda]

Strange trading today; up close to 30% on 3 trades totalling approx $800.

This one is all over the place. But there is definately a trading range for those so inclined.
It is interesting to see how the IPO news is released: I saw on Teletext that it was a failure (or word similar) does that not influence Mums and Dads who will then sell out?
Anyways see what happens. I just want K Gorge to get a rocket under it and for us to see som action

[whatsup]

This one is all over the place. But there is definately a trading range for those so inclined.
It is interesting to see how the IPO news is released: I saw on Teletext that it was a failure (or word similar) does that not influence Mums and Dads who will then sell out?
Anyways see what happens. I just want K Gorge to get a rocket under it and for us to see som action

Ponda, I "heard" that the issue was of "good " interesr to Aussie mining investors, thats where the interest/direction will come from not N Zers.

[KS]

14/02/2011 16:03

GENERAL: HGD: Broken Hill Prospecting Listing on ASX and NZSX

ANNOUNCEMENT BY HERITAGE GOLD NZ LIMITED (ASX: HTM, NZSX: HGD)

Broken Hill Prospecting Listing on ASX and NZSX

Listing of Broken Hill Prospecting Limited ("BPL") is now expected on the ASX
11:30 EST Thursday 17 February 2011 and BPL has applied to move the NZSX
listing to the same date.

Peter Atkinson
Executive Director
Heritage Gold NZ Ltd


NZX had scheduled listing for 15 February:
Broken Hill Prospecting (BPL, BPLOA and BPLOB) commence trading on the NZSX market.

[Tanger]

Gold broke through US$1,400. Now would be a great time to announce a JV partner and work getting under way on getting some of that shinny stuff out of the ground!!! (caveat, it assumes they have some of the shinny stuff in the ground).

[BigBob]

Gold broke through US$1,400. Now would be a great time to announce a JV partner and work getting under way on getting some of that shinny stuff out of the ground!!! (caveat, it assumes they have some of the shinny stuff in the ground).

Their JORC compliant resources are 205,000 ounces of gold and 800,000 ounces of silver - at today's prices that's worth US$300 million and change... you'd think that someone would be interested in digging it out...

[blackcap]

That may be Big Bob but how much does that add to the bottom line? HGD have 300Million shares issued and change....

[BigBob]

That may be Big Bob but how much does that add to the bottom line? HGD have 300Million shares issued and change....

Well if it cost them $290 million to get it out, the profit would be over twice their market cap... imagine if it only cost $200 million or maybe even $100 million.... oh, and suppose they found some more while digging... :o)

[Tanger]

I'm with you BigBob. Surely somebody must be interested!!! OGC said they were looking for more resources, Newmont must be in the market, and not to mention the Chinese. I hope HGD isn't paying any retainers to that investment bank.

[Landyman]

And another month nears a close, gold prices still high, HGD announcements still a long way off.......Anyone got any good news out there?

[Tanger]

Nothing big in terms of news, but the new top 10 shareholders list was put on the Companies Office website recently. Only thing of note was Hamish Brown accumulating more shares in the year. Fingers crossed for him and other HGD shareholders that some news (anything!!!) comes out soon. I guess we have another quarterley update at the end of April, but I think these are getting pretty easy to guess these days.

20285714 Shares SO CO LIMITED
C/-lachlan Partners, Level 18, 201 Kent Street, Sydney Nsw 2000, Australia ,

--------------------------------------------------------------------------------

17171717 Shares Hamish Edward Elliot BROWN
8 Mahoe Avenue, Remuera, Auckland 1050 , New Zealand

--------------------------------------------------------------------------------

14829920 Shares ABN Amro Clearing Sydney Nominees Pty Ltd (Custodian A/C)
Level 8, 50 Bridge Street, Sydney Nsw, New South Wales, 2000 , Australia

--------------------------------------------------------------------------------

10901950 Shares Peter Robert ATKINSON
541 Parnell Road, Parnell, Auckland 1052 , New Zealand

--------------------------------------------------------------------------------

9700000 Shares BESTFIELD COMPANY
T3/f Tung Hip Commercial Building, 244 Des Voeux Road, Central Hong Kong ,

--------------------------------------------------------------------------------

7230085 Shares HFT NOMINEES LTD
Level 2, 160 Pitt St Mall, Sydney Nsw 2000, Australia ,

--------------------------------------------------------------------------------

6388685 Shares INTERNATIONAL PACIFIC CAPITAL
Level 2, 160 Pitt St Mall, Sydney Nsw 2000, Australia ,

--------------------------------------------------------------------------------

6307030 Shares Basil Courtney MCGIRR
15 Bell Street, Wanganui 4500 , New Zealand

--------------------------------------------------------------------------------

6000000 Shares Peter William HALL
100 The Booms Avenue, Thames , New Zealand

--------------------------------------------------------------------------------

5300000 Shares PROPHECY MINING LTD
541 Parnell Road, Parnell, Auckland 1052 ,

[BigBob]

If HGD announced something today would anyone actually believe them...? Wouldn't it be considered the ultimate April Fools' Day joke....??

[Landyman]

The joke is already on us (investors) with the directors probably sunning themselves in Fiji wondering how much longer they can string HGD out for. If they have someone doing the dirty work (finding the JV partner) I just wonder what they really do....they certainly dont seem interested that the price of gold is so high.
That said I wouldnt mind picking up some at 2.1

[Landyman]

What does Warwick Grigor know that we dont? I really wish when HGD announced things they would put a reason - ill health, family commitments.....knows that HGD are rudderless. Share price cant go too much lower can it?

[GR8DAY]

......he probably just cant face another shareholders meeting! SP........hmmmm? Amazing isnt it with GP at all-time highs.......whats the resource worth now??

[clarky]

the resource is worth nothing whilst its in the ground...

[tobo]

Given his fingers in many other pies in Aus/Asia, it is reasonable to understand he might have decided either
1) This is not his main focus and he does not see the need to stay as a director of what is a minor investment of his
or
2) Compared to his other investments, this is not going as well, and he has bigger fish to fry.

The thing would be to watch for him holding or selling his shares.
Even so, I worry that if he had lost interest, he is so wealthy that he might let his investment sit there even though he does not see it skyrocketing, a bit like I might (irrationally) leave in a small investment on the once-in-a-blue-moon chance that it might (eventually) skyrocket.

Lets see if he sells

[Tanger]

I don't know why they want to replace him. Save the $28k. Not sure what the rest of them are doing either. One of them is described as having expertise in investment banking. I would have thought he should be looking for a JV partner??

I would still like to know how much Heritage Gold has spent on the BPL listing (all of those mail outs etc). Not sure why they should be paying anything, when the other majority shareholder (So Co) just went along for the ride.

[GR8DAY]

....disagree Clarky. The resource is now worth an effing fortune to someone with the knowledge , machinery, finances and balls to get in out of the ground............none of which HGD have obviously got otherwise they would have done it by now instead of just talking about it. No wonder board members are resigning now!!

[BigBob]

....disagree Clarky. The resource is now worth an effing fortune to someone with the knowledge , machinery, finances and balls to get in out of the ground............none of which HGD have obviously got otherwise they would have done it by now instead of just talking about it. No wonder board members are resigning now!!

I totally agree GR8DAY, but the sad thing is that they are not even talking about it anymore....

[clarky]

oh dont get me wrong GR8DAY - i know we are sitting on a fortune, but that seems to be the strategy...sit and wait

i was merely pointing out that it isn't worth anything to the shareholders as the shareprice isn't going to move up whilst we are making no progress. Its been nearly 1.5 years since the permit came through - yet we are still sitting on the fortune, not getting it out and making the fortune (for the shareholders who have been waiting patiently).

[Landyman]

Wasnt there talk of them "proving thier resource" a while back, and that they were going to do some work for a change?

[clarky]

it would be very helpful for both shareholders and potential JV partners to get that information. but as it is friday the HGD office will be off taking a 3 day weekend no doubt

[Landyman]

Great news, 4th day of record highs for gold....perfect time to announce the JV partner with reassesed values of resource!!!

[elZorro]

Great news, 4th day of record highs for gold....perfect time to announce the JV partner with reassesed values of resource!!!

Hi Landyman, guess you'd have to look at the size of the resource in NZ and compare it to other mines in operation. It doesn't sound like it's too appealing to outsiders. Newmont may be the best bet to supply local equipment and labour, although even Glass Earth have their options with Newmont there. Have you hedged your bets with OGC? This one could do a runner this quarter.

[Tanger]

It just seems like such a no brainer that there must be someone out there that wants to JV on this one. Given the price of the shares at present, it wouldn't take a lot of capital outlay to get a decent chunk of the company if they wanted to go down an alternative route.

[Landyman]

Maybe we, the shareholders are the ones with no brains. In the words of C-3PO..."we're doomed"

[clarky]

we must be due the quarterly activities report next week... this will be easy for HGD as they can copy and paste most of the last report as not much has changed in 3 months... JV still no closer

[Tanger]

No doubt they will go on about the BPL listing as being the major success for the period. The share price for that outfit has managed to go from around 26c (Aus 20c) to 18c (albeit there have only been a handful (if that) of trades on the NZX in relation to this stock. HGD itself has done nothing, so it will be more along the lines of the fact they are speaking with potential JV partners blah blah blah...