Heritage Gold...HGD

[BAPP]

Hi Jonny 5,

Did you find the answer to your trivia question from yesterday? (answer at end of post)
---------------------------------------------------
[/quote]
BAP if I may be so brash, what field of work are you in?
---------------------------------------------------
On to more important things, I think HGD held up pretty well on both the NZX & ASX today considering some people will be concerned or confessed by yesterdays announcement.

As I said yesterday, it is always disappointing when a company doesn't give it's existing shareholders a chance to take part in discounted/bonus offers.

However in this instance I think there may be good reason, due to the heads of agreement regarding the Uranium licences and the need to make this happen quickly and successfully without having enough time to meet shareholders emotional concerns.

Which is more reason to suggest that the ‘U’ must be a go!. I tried to get some extra shares, and was politely told why it was not feasible and I was provided with sufficient reasons why HGD took this avenue to progress developments. Of course shareholders still have the ability to vote otherwise on APRIL 12TH.(You should have got your voting papers toady,otherwise be at the meeting)

It has no relevance whether the shares that have been issued through this placement have been 'sold off' already, as long as the Uranium exploration makes a significant difference to the progress of the company from now on. It seems to have already done so and just look at what happened to SMM over the last 18 months or so to see how this could continue if management can take the developements further.

There are always people who sell at different levels of profit/gain, some will be happy with a quick 10-20% while we have a few who will wait and be happy with the 30-50% gain and then there are others amongst us who will look for the 10-20 bagger.( Put me in this group and of course this is the very happy group!:):):))

The question is - are you comfortable with the amount of risk, -can you afford to wait, and do you believe the company can deliver on it’s unrealised potential of gold, cobalt and now possibly Uranium.

If the answer is yes, the hold on, keep up the research and carefully read any announcements and posts on this forum. (the research is the most important and as jess keeps telling us, phone Peter and Sue at Heritage to get extra info)

Cheers
BP:)

PS: For Jonny5 -The answer is : Software Development- Printing Industry - Systems & Business Consulting- not necessarily in that order!

[jonny5]

I did do a little research and came to a very different conclusion. Quite funny. Just one google and no digging made me believe you worked with http://www.adventureeducation.co.nz/

Software dev and systems consulting much more my area of interest and.. industry :)

[underground]

hmm maybe BAP does some freelance for the herald lol.

[BAPP]

Hi jonny5

Ha ha,-Way off, but very amusing!
Maybe you need to improve your research techniques and read some of the previous posts over the last week.

Must be your turn now?

Cheers
BP:)

[jonny5]

Amusing indeed, easily made mistake using google, surely you can see how I came to the conclusion!

A friend of mine does freelance for the herald, if you're looking into it hope you like 2 minutes noodles!

[BAPP]

Sorry underground,

Nothing to do with newspapers, I just help small business become medium size and so on, long with designing software and running a business! (

Would be interesting too hear what other posters do also, but lets not forget the HGD topic

Cheers
BP:)

[BAPP]

Hi jonny5,

Are you a Man City or Man United supporter? (Even if you don't like football/soccer)
My favourite spot in Manchester is Old Trafford.(football ground that is!)

Cheers
BP:)

[jonny5]

Alas I'm American at heart... We're clumsy with our feet. I myself am a business analyst / developer. Greater aspirations but im a youngun still

[BAPP]

Tough day at the office for HGD supporters!

The big question is can sellers hold on until the next decent announcement, which I suspect is still another two weeks away.( although you never know, we maybe surprised).

I think we will see the price drop away a little more (maybe a cent), before regaining any loses towards the end of next week when the speculators start to make a 'play' based on the Uranium deal.

Anyone going to the shareholders meeting on April 12th? (I hope to be there!)

Cheers
BP:)

[croesus]

I would bet a bottle of good quality Red none of those 20m shares have been sold, surely there would be a clause not enabling them to be disposed for at least 6 months probably a year
anytakers on my bet Etrader or Jess.
Say a Reserve Wynns or similar in the mid $20 range. Not sold and not allowed to be for at least 6 months.
cheers Croesus.

[Jess9]

Croesus, when I enquired about the placement they made no mention of such a condition. I was told the placement was made under listing rules with an AUS broker who easily made all placements. Unless the condition you mention is a stock exchange specific placement rule I don't think HGD could or would want to limit the placement in this way.

I won't take your bet, as when I gamble I like to know the game and all the rules : )

Is you comment a guess only, or have you looked up the ASX's placement rules?

BAP - not sure if we will see much of a fall. Noticed today bugger all through on small price drop. From my "charting books" FALLING PRICE ON FALLING VOLUME was a good sign. Lets see if the book was right and HGD is still a charging bull, that has just stopped for a quick breather!

[wsheridan]

this was always a high risk stock that has confirmed it's status.........farewell mein capitain'

[croesus]

Jess. No I hav'nt looked up the ASX rules.......
Would expect more information forthcoming before this shareholders meeting... thats just simple 101 marketing.
cheers .

[BAPP]

Hi Croesus/Jess

If you have a look at the explanatory notes which accompany the 'Notice of Meeting documents, you will see the individuals or organisations that received discounted shares. Compare this to the current top shareholder list and it will help with a few answers.

As at March 19th you will see some of the allottees from the Sept 06 issue have already sold there shares, although some remain on the list also. For example, I think Lighthouse Mortgages sold 6 million shares if you look back on my previous posts.

We have several of the allottees in the March issue on the list, for example Adam S Davey and Yatesbury. Some may not appear as they have not acquired enough shares to show up.

Cheers
BP:)

[etrader]

I am away on holiday so have not looked in much detail at the notice, but i guess if those holders have sold down a lot of there cheap holding into the market place, it will reduce some threat of dumping massive amounts at below market to liquidate there profit. so can only be good for shareholders, yes soft day yesterday has bounced back a little on light volume, this stock will drift up and down a little short term till solid reports some out.

[BAPP]

HGD up & holding on in NZ today and it looks like 'someone' my be subtly accumulating on the ASX also. What do you think?

Cheers
BP:)

[Jess9]

Looks like it is nudging higher already. See the warrants are selling at a 1/2 c discount to the last trade. Thats a gain/loss of $500 on 100k! If HGD's heads go much higher, underpinned by buyers, warrant sellers not closely following head price will be arbitraged. An efficent market in operation ; )

Lets see 15c next!!!

[BAPP]

It's building up towards an interesting few weeks for existing HGD shareholders.
Jess I think you maybe right about 15 cents being the next hurdle for the share price to surpass leading up to the decision on the Uranium exploration due around April 12th.

I would really like to see what the list of top 20 shareholders looks like just before the special shareholders meeting (ie" 8/4/07, just before we have our votes in.) I suspect that someone has been carefully increasing their stockholding recently and IMO they know a lot more about this Uranium licence than we do at the moment.

According to recent reports all the news should coincide over the month of April, so it could be the making or breaking of this share. (I've added another 100k to my stockholding over the past week so obviously I'm looking at a bright future for HGD).

Almost 20% of the company has changed hands over the past month and still most of the top shareholders are still there. That tells me there is still plenty of potential.

Roll on April and more exciting news.

Cheers
BP:)

[croesus]

I see Johnny Howard is now endorsing sale of Uranium to India....

[Jess9]

Hi BAP. My understanding is the Top 5 holders know that HGD should have been well over 10c, and this value was attributed to the gold permit areas in Waihi area. I think there is a strong feeling that big reserves are there, and the drilling is planned to confirm this. With gold price 100% greater than say three years ago, off setting some dilution in equity sense that time, I think larger holders will need a very nice incentive to move on.

[Jess9]

I'd be excited for gold shows of greater than 7 oz/t to depth, be nice to hit such areas so as to clearly define the resource increase target area(s) for next drilling set. Anyway current drilling must almost be complete, we wait and see.

[BAPP]

Hi Jess,

It's quite exciting to think that HGD has an established gold resource in Waihi with the potential to expand considerably, maybe even 3-4 times.

On the otherside of the Tasman a cobalt resource that is potentialy worth $millions and looking attractive due to demand from the China market and now possibly a Uranium exploration permit, which of course has reignited interest in the company recently.

If the top shareholders believe the underlying value of the company is far greater than 10 cents based on the Waihi resources, I wonder what value they will put on these additional resources.

When resource levels in all projects are confirmed the market will rerate the share price by 3-4 times current levels IMO. With the new interest created by the Uranium deal this may also be understated, so the level of incentive for the top shareholders to sell may well have jumped up to much higher levels now.

Time will tell, but it's looking more interesting every week as we close in on announcement time.

Cheers
BP :)

[Jess9]

hmmm, options (at the right price) may be a good going forward - 1.5 years to run, at 10c strike. IF HGD could move into Summit $ territory by then, they would look very cheap. But if HGD stay at 10-15c, or fall back below...

[johnofthex]

Who is the director that"s resigned?? And why? What effect will this have?

[BAPP]

Hi Johnofthex

The initial announcement was made ton the 9/03/07 a few days before the news of the Uranium exploration. Today's announcement is just confirmation of the Directors resignations taking affect today.

I think the market accepted the news as a good thing and IMO the changes to management may lift the company’s profile in the long term and probably have a bit to with the main shareholders wanting to progress some of the company’s Australian initiatives.

Remember also that the announcement indicates that long serving MD Peter Atkinson has also indicated his intention to resign when a replacement MD is found.

Hopefully a new MD will be found reasonably quickly and i suggest this will coincide withnthe news of furthering the Uranium exploration licence. You can also check back on previous posts over the past month to cover this discussion.

Cheers
BP :)

See copy of market announcement below.
---------------------------------------------------------------
HGD
09/03/2007
DIRECTOR

REL: 1702 HRS Heritage Gold NZ Limited

DIRECTOR: HGD: Heritage Gold Announces Planned Board & Executive Changes

Heritage Gold today announced today a number of planned executive and
directorship changes within the company.

Heritage Gold's managing director Peter Atkinson, who has been with the
company since its inception in 1985, has indicated his intention to resign
from his position when a new managing director is appointed, and will then
continue with the company as a non-executive director and consultant.

"My decision has been under consideration for some time now. Providing my
services as a consultant will give stability to the company when the new
managing director is appointed," Mr Atkinson says. "I look forward to
assisting in the advancement of Heritage Gold's strategy."

Founding independent director David Williams and director Ralph Stagg have
also advised their intention to resign.

Mr Atkinson says both Mr Williams and Mr Stagg have made significant
contributions to the Board and executive team during their tenure. "David has
been a director for 22 years and we have drawn heavily on his expertise
during that time. However, David's increasing legal practice and other
commitments are placing more pressure on his time."

"Ralph has provided us with excellent support for eight years including key
geological and strategic planning advice. He is involved in a new mining
company overseas and will not be able to devote the required amount of time
to Heritage Gold going forward."

In addition, Geoffrey Hill is to replace Murray McKee as Chairman, with
effect from today, and Mr McKee will assume the role of Deputy Chairman.

Mr Atkinson says the Board has decided not to spin off its gold exploration
activities into a separate company, as was announced at last year's annual
general meeting.

"A suitable person has not been found to manage the spin off company, so the
Board have decided Heritage Gold will remain the holding company for all its
exploration projects."

"Recent announcements made to our investors indicate that core (diamond)
drill holes west of Waihi are yielding positive results and more widespread
gold mineralisation has been identified than previously anticipated," Mr
Atkinson says. "These are encouraging signals for the future."

Mr Hill says Heritage is undertaking a global search for a managing director.
"We expect to fill the position within a matter of weeks."

"Meanwhile we have several new opportunities under active consideration as we
implement our strategy for Heritage."

For further information please contact:

Peter Atkinson
Managing Director
09 303 1893
021 630 463
-----------------------------------------------

[BAPP]

For anyone interested: http://www.stuff.co.nz/4011378a13.html

Cheers
BP:)

[johnofthex]

Thanks for that info BP. I have been kicking myself I wasn't in on the ground floor of AGS in Oz but maybe HGD might develop well in the future instead.

[STRAT]

Hi BAP, Do you know where Heritage plan to look for Uranium in general and specifically for where have they applied for a permit?

[BAPP]

Hi Strat,

The following link has the info regarding HGD's possible foray into Uranium exploration. http://www.heritagegold.co.nz/PDF/ASX_120307.pdf
or www.heritagegold.co.nz.

Check out the info relating to the gold resource targets that management have indiacted for the Karangahake area.

With the Special Shareholders Meeting to be held next week, I am anticipating an announcement soon which should clarify their licence agreement etc... It would make sense for the management to get all shareholders on side before the meeting!

Also one good point about exploration in the Northern Territory is that they are already Uranium 'friendly' in that region.

and this from the Austrailan news a few weeks ago: NB: last paragraph.

Heritage Gold NZ has been out of fashion also with investors here, its stock getting as low as 2.4c in December. Peter Atkinson has run the company out of Auckland for nearly 22 years and its story of gold exploration across the ditch has become somewhat stale. He is stepping down, which will allow a fresh pair of eyes to be brought to bear on where Heritage takes that gold story.

In the meantime, the share price was given a fillip this week by the acquisition of a uranium prospect in the Dunmarra Basin of the Northern Territory. The uranium there has been known about for 30 years. Back then, a contractor drilling water bores took along a geiger counter and found the drill cuttings gave off a good radioactive reading.

The Heritage deal was put together by Far East Capital's Warwick Grigor. He was approached by the private holder of the tenements and saw Heritage as a company much in need of rejuvenation (Grigor having put together its IPO when he was with County Natwest).

Cheers
BP:)

[steve fleming]

quote:Originally posted by BAP

The Heritage deal was put together by Far East Capital's Warwick Grigor. He was approached by the private holder of the tenements and saw Heritage as a company much in need of rejuvenation (Grigor having put together its IPO when he was with County Natwest).

Cheers
BP:)


Wow!...is that right BAP??

Grigor is a bit of a uranium guru....of all the possible companies out there, he chose HTM....

Its all starting to make some sense now...Far East Capital organised the placement late last year & put out the broker report on HTM after the announcement...so Grigor/Far East Capital are backing HTM big time.

[BAPP]

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:)

[Jess9]

At 1:59 pm on Wednesday Apr 04, 2007, (NZ Local Time) the following announcement was made:

MINE: HGD: Heritage Gold Reports Positive Drilling Results HGD
04/04/2007
MINE

REL: 1559 HRS Heritage Gold NZ Limited

MINE: HGD: Heritage Gold Reports Positive Drilling Results

Heritage Gold's drilling programme is progressing well with further gold mineralisation identified near Waihi, supporting earlier findings.

In February, Heritage Gold announced it had struck strong gold mineralisation with one of the two previously drilled holes encountering values of up to
4.15 grams per tonne.

Today's report outlines the results from the latest holes, 3 and 4. The company plans on drilling several more holes and the findings will be released as they are available.

Heritage Gold managing director Peter Atkinson says: "The holes have continued to confirm widespread gold mineralisation over a strike length of approximately 1000 metres so far."

Hole 3 identified gold grades of up to 2.05 grams per tonne at a hole depth of 33 to 35 metres, while Hole 4 found 0.32 grams per tonne at a hole depth of 79 to 84 metres. Mr Atkinson says the lower grades from Hole 4 represented an area where gold and silver appeared to have been leached from the mineralised host rock.

"Although these results are sub-economic they show that gold is consistently present in the hydrothermal breccia we are drilling. We are looking for feeder zones which may contain much higher gold grades," he says.

Mr Atkinson explains: "By further drilling below the present holes we can establish the geological and structural controls of the mineralisation with much greater confidence. This will enable us to target later holes more accurately."

Heritage will continue to drill about 50 metres below the original holes in search of richer veins. "The results to date are positive and show the hydrothermal system is well mineralised. Our objective is to find the veins where gold is most concentrated."

A full report of the drill tests is attached as an appendix to this announcement.

For further information please contact:

Peter Atkinson
Managing Director
Heritage Gold
09 303 1893
021 630 463

About Heritage Gold

Heritage listed on the NZX in 1986 and has a current market capitalisation of approximately $18 million. Heritage is also listed on the ASX and the National Stock Exchange of Australia (formerly Newcastle Stock Exchange).
The company has valuable gold assets in the Waihi district of New Zealand, where it is a major tenement holder. Heritage also owns 33% of Broken Hill Cobalt Ltd in Australia and has applied for permits to prospect for gold, silver, copper, and base metals in Northland, about 150km north of Auckland.
Heritage recently signed a binding Heads of Agreement (subject to due
diligence) in relation to an offer to enter a joint venture to explore for uranium in the Dunmarra Basin of the Northern Territory.




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[Jess9]

Rather surprised we did not see more interest in the share price,as above makes Waihi values stronger, guess its all about the U?

[STRAT]

quote:Originally posted by Jess9

Rather surprised we did not see more interest in the share price,as above makes Waihi values stronger, guess its all about the U?
Hi Jess, Correct me if Im wrong but thats a small amount of Gold per truckload of hillside which may have a lot to do with why they havent dug it up

[STRAT]

quote:Originally posted by BAP

Hi Strat,

The following link has the info regarding HGD's possible foray into Uranium exploration.
Cheers
BP:)
Thanks BAP, With the Australian Government Policy Changes that were expected at the end of the month regarding U mining now looking like they will do a turn around, maybe. The Northern Territory is a Good place to be looking I think.

[Jess9]

Hi STRAT, the current drilling is to find the best drill possitions, for the next round which I understand is aimed at upping the resource, therefore results to date look good.

[Jess9]

Strata - this in particular looks quietly exciting...
----------------------------------------------------------------
[u]We are looking for feeder zones which may contain much higher gold grades</u>," he says.

Mr Atkinson explains: "By further drilling below the present holes we can establish the geological and structural controls of the mineralisation with much greater confidence. This will enable us to target later holes more accurately."

Heritage will continue to drill about 50 metres below the original holes in search of richer veins. "The results to date are positive and show the hydrothermal system is well mineralised. Our objective is to find the veins where gold is most concentrated."
----------------------------------------------------------

I think this first programme was for 10 holes? So more results to come!

[Jess9]

and from the attached appendix...

"The features of the hydrothermal alteration system so far tested are consistent with it being at a high level in the epithermal system and widely mineralised. [u]Higher grade feeder veins are expected to occur below the breccia</u>."

[BAPP]

Hi Strat,

Jess makes some good points. HGD is barely halfway through their drilling programme, which is specifically designed to look for feeder zones which may contain higher levels of gold. I have spoken to Peter Atkinson recently and he seems very positive about the drilling program, although he does admit it is taking a bit longer than anticipated. The aim must be to find where the larger deposits of gold and silver are concentrated and confirm resource levels that can provide economical mining for a minimum of 5 years and IMO they are well on their way to doing so.

It should be an exciting week with the probable announcement on future Uranium exploration developments. I suspect the market is waiting to see the outcome of the due diligence before they make any further decisions on HGD. If the news is positive I expect the next step in HGD rerating by the market.

After reading the news article about Warwick Grigor, MD of Far East Capital promoting this venture I was very encouraged as noted previously.

The uranium deal may be the opportunity for management to bring HGD/HTM into the limelight, however the gold, silver and cobalt resources still hold significant revenue potential and should not be underestimated.

The market has undervalued these resources for quite a while and hopefully with the new interest we will see this potential finally realised. Existing gold and silver resources (JORC compliant) already indicate the share price of the company should be significantly higher than the current 10c/share value it is trading at.

Looking forward to more positive news before the shareholders meeting next week! (might even sell the remainder of my SMM shares to top up on HGD in the next few days!) The Uranium exploration is in the Northern Territory, which is defintely a positive, especially with recent political indecision in Australia.

Cheers
BP:)

[Jess9]

well said BAP, did you post the link to that article?

[BAPP]

Hi jess,

Here's the link: http://www.theaustralian.news.com.au/story/0,20867,21395616-18261,00.html

Bit about Heritage is about halfway down page, (just after piece about Frontier.)

Gold, Silver, Uranaium and Cobalt prices all looking good for HGD.

Cheers
BP:)

[STRAT]

quote:Originally posted by BAP

Hi Strat,

Jess makes some good points. .
Cheers
BP:)
Agreed, Put a buy order in today at 9.7 but only managed to secure a portion of the order.:D

[Jess9]

You may get a few cheaper on ASX STRAT. The gap there is larger, and the price will likely bounce between a bit, until the U deal is sorted one way or another, or we get a lucky "early" hit with the exploratory drilling in progress! Just watch the xrate.

[Jess9]

STRAT. Also keep and eye on the warrants and options - depending on the head price they could provide a discounted entry into HGD, and allow you more leverage for the same money etc.

Just remember while the warrants are in the money now - the holder has the option to convert on or before the 27 June 2007, at 6.3c. So, in this case HGD warrants are the same as options etc.

The 2008 options have somewhat longer to run (1.5 years), but of course have a higher strike price at 10c NZ. The options may be a good punt (at the right price etc) if HGD has struck a new path and is heading into "Summit" territory.

Both warrants/options do however have a less liquid market (about 20m each - many held by top 5 holders etc. This risk is offset do some degree when the security is "in the money" (as it can be converted and the new head share sold on the HGD market etc).

Sorry if I state the obvious or what you already know to you, but it may be worth noting if not.

[STRAT]

quote:Originally posted by Jess9



Sorry if I state the obvious or what you already know to you, but it may be worth noting if not.
I had given warrents etc due consideration but please dont be sorry. There is no such thing as too much information and thanks Jess for your reply

[BAPP]

Hi Jess & Strat

The 2008 options look like they may be a worthwhile 'punt', especially if you are confident about the uranium deal progressing along with the gold resource increase at Waihi. (I'm confident on both counts!) Luckily managed to pick up some options @1.5cents a few months ago, so if we see HGD head down a similar path to SMM over the next 15 months I will be very happy.

I think we will all have a clearer idea of this outcome and the future outlook for HGD by the end of next week.

Meanwhile have a great Easter!

Cheers
BP :)

[Jess9]

Hardly any trades on Thursday - maybe most of "the market" went on holdiay a day early. Look forward to some positive action again this week, be great to see a strong close over 12c, especially after the U. deal is finalised. Fingers xed then this is all lining up.

[Jess9]

Also looking back over the preliminary announcement to date, quietly excited about current Rahu drilling. With gold mineralisation being so much wider than first expected (per drilling to date) I think it is simply a matter of time (and further targeted drilling) to hit those "rich feeder veins" (noted in announcements). Fingers x'd for some nice action arising from this permit area also then.

Also thinking, that timing for some Broken Hill (Cobolt) action must be near. With drilling planned in Q3 or Q4 this year, one assumes funds and structure etc (maybe IPO etc) must be on the cards shortly, to have in place for then etc. Be nice to get some hard news were this is at. IPO for broken hill would be another exciting announcement to move this share forward. Be sensible to time this before June, so as to also ensure warrants are taken up. Another $1.2m in cash towards, to prove up resources would be convenient, and the dosh well invested.

Anyway, some more golden eggs to look forward after the choc. bunny has departed this weekend :D

Happy holiday weekend all!!

[BAPP]

Hi Jess,

Interesting articles you may be interested in reading:
http://www.independentweekly.com.au/?article_id=10224152&PHPSESSID=f89a8d7ff0e8d37f356d6cbc05742cb0

and http://www.stockinterview.com/News/04072007/Uranium-Price-Over-Hundred.html

With the price of gold heading towards US$700 again, Silver heading upwards of US$15 and looking to take off, the price of Uranium flying past the US$100 per pound mark and Cobalt at around US$32 per pound, the time must be right for HGD management to establish resource levels in all existing permit areas and take the new Uranium initiative a step forward.

The following link is comments by Warwick Grigor regharding Uranium.
http://www.abc.net.au/tv/australiawide/stories/s1887626.htm

‘Warwick Grigor: We are at the start of what I believe is a 10 year boom. There's a lot of parallels with the uranium industry today and the gold industry in the 1980's and the uranium price well that could well get above a hundred dollar.

Uranium is a very common element. The place is riddled with uranium of low grade but you've got to get an economic concentration and you'll be lucky if 5 per cent of the companies out there get to that point.”

I quess the anticipated announcement next week may well be the first indication of management taking the company ahead and finally realising it's underlying potential.

Cheers
BP:)

[Jess9]

Thanks BAP. I understand the three mentioned are an exception to many others, but it shows where a coy is managed well and a bit lucky i.e. they hit a commercial deposit and are permited to lift it etc - 20 to 100 baggers are a possibility.

If HGD's U deal does proceed, what I like is that initial funds are in place to complete initial test drilling this year. This will provide ongoing interest, especially as Uranium exploration is in market favoured (and for good reasons as your links show). If things progress positively, just based on the Uranium project, we could see some very nice gains from the current 8-10c range. With even possible takeover for the Uranium permit if the area can "deliver the goods". Exciting times!!


The due diligence period is almost over, lets hope this initial stage provides the basis for some solid runs. The meeting is Thursday? Wonder if we can expect an announcement before?

[BAPP]

Hi Jess,

As you’re probably aware I’ve always been interested in the potential of the Broken Hill cobalt project. I really believe the company needs to push the drilling program ahead and confirm resource levels. I’m of the opinion that cobalt prices will continue to rise as demand increases, due to need for industry and technology globally and I also believe that broken hill is the the quickest way for HGD to create cash-flow to assist in the development the further of the Waihi gold resources and now possibly the Uranium initiative in Dunmarra Basin.

However if is the ‘Uranium’ that puts HGD back into consideration from a market perspective, that’s great.

I’ve been doing some research on the Dunmarra Basin and it seems that the area is relatively unexplored. Unfortunately I was unable to find the exact location of the tenement areas where the licences are being applied for, but from the NT mining and exploration documents that I browsed there seems to be ‘untapped’ potential in the area for many minerals.

The Dunmarra basin has has been overlooked which is sup rising due to it’s proximity to the McArthur Basin/Pine Creek areas which hosts many rich uranium ore bodies. The Dunmarra basin is about 300k south of the Mc Arthur Basin, Katherine and Pine Creek areas which all have large mineral exploration and mining operations in progress.

This link shows the general area of operations and the 2nd link provides a general report on mining and exploration in the NT.

http://www.aldershotresources.com/documents/GENALD003_NT_GeolFRegions.pdf

http://kakadu.nt.gov.au/pls/portal30/docs/FOLDER/DBIRD_NTGS/INFO_CENTRE/ATTACHMENTS/REPORT20_PRELIM.PDF

This report is rather long, but the important part relating to Dunmarra is:

“The Eromanga basin comprises fluvial, flood plain and lacustrine sediments deposited on the margin of shallow marine sediments that occur in the southeast of the Northern Territory and dominate further east. Thin, but widespread fluvial to marine Cretaceous sediments also occur within the Dunmarra Basin.”

In short the info I found indicates that over millions of years many different mineral layers may have drifted from the hills and ranges slightly north of Dunmarra, leaving widespread sediment deposits which hosts many rich uranium ore bodies. The erosion which has occurred is likely to have transported uranium in solution to the Dunmarra Basin.

With a bit more searching on google it seems that around 30 years ago some contract drillers were drilling water holes in the area and with hand held geiger counters recorded strong radioactivity at depths of 30-100 meters. The geologist that pegged the licences was also of this view that he can came up with intersections of 1000ppm. There are also reports of between 1000-1440ppm.

So while I’m definitely no expert in these matters it does seem that HGD has reason to be confident with this opportunity, however once agin drilling will only tell the true story.

Jess, lets hope this is the start of exciting things to come and we now see HGD management take advantage of all opportunities.

This week will no doubt provide some indication.

Cheers
BP:)

[rev]

Hello, relatively green investor here, so hope the questions aren't too basic.

Is there any advantage to buying Heritage (HTM) on the ASX as opposed to HGD here in NZ? When the good news appears, Is it possible the bigger market and trend for more trading in lower priced uranium hopefuls may mean that HTM could rise at a faster rate, and perhaps to a higher level than the HGD equivelant.

Cheers.

[Jess9]

Hi Rev. I think the ASX has more interest and volume in general, and this may grow with the growing AUS projects, however the NZX follows pretty quickly on price leads. Sometimes it is a little cheaper on one exchange than the other, pays to check if your are after more than a few. Also their are warrants and options. Warrants are on NZX only, and options trade on both exchanges.

Tickers (from memory) are:

HTM
HTMO

HGD
HGDCA
HGDOA

[Jess9]

Thanks very much BAP for that info. The chance for such high grades is mounthwatering - if that "sounds right" with regard to Uranium : )

[STRAT]

quote:Originally posted by rev

Hello, relatively green investor here, so hope the questions aren't too basic.

Is there any advantage to buying Heritage (HTM) on the ASX as opposed to HGD here in NZ? When the good news appears, Is it possible the bigger market and trend for more trading in lower priced uranium hopefuls may mean that HTM could rise at a faster rate, and perhaps to a higher level than the HGD equivelant.

Cheers.
Another thing to consider if you think you will be in medium to long term is that some are expecting the kiwi dollar to to take a bit of a dive so being on the ASX will further increase your profit if there is any and if this turns out to be so.

[Jess9]

Small pull back, but good support at 8c AUS. Should probably stop watching daily, and just check weekly - considering where HGD may head up to. It's to easy to get caught on the daily emotional roller coaster, and then make th wrong choice, during this time of change.

[rev]

Thanks for the reply Jess9 and Strat. I had purchased a wee bundle of HTM in January and picked HGD in the Share Investor Comp, they've both moved up nicely.

Cheers.

[BAPP]

HTM dropped off during morning trading on ASX, however there seemed to be renewed interest from 2.30pm (ASX time) with around million shares traded at 8 cents or above up to the end of day.

Maybe someone is anticipating good news tomorrow?

Jess, I can't help but keep watching every day, but it is essential to keep to one's plan and not get worrried about fluctuations caused by small trades, especially when we are leading up to important announcements.

Cheers
BP:)

[etrader]

I'm taking these dips as a buying op where nessasary to top up my portfolio, have increased my holding by another 100k recently and am holding on and not worrying about the odd movement up or down, i've been caught before where i jump to early when it's up 40% over a period to watch that stock that i bought on good fundamentals rise significantly after selling out.

Look foward to the meeting on thursday, are many sharetraders who hold attending.

have beeen away for a few weeks and had an occational glance over that time, has been holding well dispite no directive announcements apart from the waihi update which did not rev the market.

[Year of the Tiger]

quote:Originally posted by Jess9

It's to easy to get caught on the daily emotional roller coaster, and then make th wrong choice, during this time of change.


I know the feeling Jess. I bought some SMM (NZX) at 0.35 cents and panicked with the ups and downs and then sold at a tiny wee profit. Today they closed at $6.06.

Same with PDN (ASX). I bought at A$3.70 and lost my nerve and sold again for a tiny profit. Now they are A$10.70.

Now, when I bought HGD, I decided that I will ignore all the daily "ups and downs" and go with what my gut tells me. And that is that I have a good feel about this share and I refuse to get caught up in the drama and leave that for the drama queens. I'm sticking with this one. :)

Cheers
YOTT

[Snow Leopard]

quote:Originally posted by STRAT

...Another thing to consider if you think you will be in medium to long term is that some are expecting the kiwi dollar to to take a bit of a dive so being on the ASX will further increase your profit if there is any and if this turns out to be so.

I hope you do not mind if I suggest that this statement is rather misleading.
When a stock is listed on multiple exchanges then the 'local' price reflects the perceived value of the company in the local currency.

To give a purely theoretical example:
"The Company" is listed on two exchanges with an exchange rate of 1 A$ = 1 B$ and the shares generally trade at about the same dollar (local) amount on the two exchanges.
Then currency B goes into a bit of a decline and ends up with 1 A$ = 2 B$: you will find that the "The Company" will usually sell for twice as many B$ as it does A$. The share price 'compensates' for the change in exchange rate.

Although sometimes there is a benefit in buying a multiple listed share in a foreign currency usually you may as well buy on your local exchange.

regards
Paper Tiger

[U-rain-e-um]

Hi everyone,
I have been reading this forum with interest for the last year or so and applied for a account about 3 weeks ago. Thought it was lost in cyber space as only received it today. I think a name change would be in order. How about "HERITAGE BOLD" I can't attend the meeting on Thursday but I'm sure BAP and Jess will ask the right questions. I have a good feeling its going to be good news.

[Year of the Tiger]

quote:Originally posted by U-rain-e-um

Hi everyone,
I have been reading this forum with interest for the last year or so and applied for a account about 3 weeks ago.


Welcome to the forum U-rain-e-um.
I guess by now you already know whose opinions are worth taking some notice of, and whose are not worth the space they take up on your screen.
:D
It is a lot of fun learning the difference.

YOTT

[etrader]

http://www.theaustralian.news.com.au/story/0,20867,21537235-643,00.html

Support for U ban to be lifted in W/A, check out the movement in U in the last week a record since 1968

[johnofthex]

Just read that etrader and they are basically saying keep it in the ground until WE need it on the one hand or open it up and mine it now with the prices for "u" exploding. Then again Oz might be required to take nuclear waste. Always + and - I'll put my money on the money. The Ozzies won't be holding back much longer.

[etrader]

quote:Originally posted by johnofthex

Just read that etrader and they are basically saying keep it in the ground until WE need it on the one hand or open it up and mine it now with the prices for "u" exploding. Then again Oz might be required to take nuclear waste. Always + and - I'll put my money on the money. The Ozzies won't be holding back much longer.

think the stats say oz holds 24% of world wide Uranium, but is mining 40% of the current supply, might be mis quoting but the resource base they hold is huge, with the underlying resource growing at massive rates they would be foolish not to lift the ban.

In terms of the new MD initally 9th of march they stated they expected an announcement within weeks, one would wonder if it could be great timing tomorrow for:

*New MD
*Fresh capital confirmed
*Due diligence "passed"
*confirming Uranium joint venture with 3rd party
*Clear direction on Waihi holding.
------------------------------------

Disc: hold HGD

[STRAT]

quote:Originally posted by Paper Tiger


quote:Originally posted by STRAT

...Another thing to consider if you think you will be in medium to long term is that some are expecting the kiwi dollar to to take a bit of a dive so being on the ASX will further increase your profit if there is any and if this turns out to be so.

I hope you do not mind if I suggest that this statement is rather misleading.
When a stock is listed on multiple exchanges then the 'local' price reflects the perceived value of the company in the local currency.

To give a purely theoretical example:
"The Company" is listed on two exchanges with an exchange rate of 1 A$ = 1 B$ and the shares generally trade at about the same dollar (local) amount on the two exchanges.
Then currency B goes into a bit of a decline and ends up with 1 A$ = 2 B$: you will find that the "The Company" will usually sell for twice as many B$ as it does A$. The share price 'compensates' for the change in exchange rate.

Although sometimes there is a benefit in buying a multiple listed share in a foreign currency usually you may as well buy on your local exchange.

regards
Paper Tiger
Doh, Its not misleading its just plain wrong. Thanks for pointing it out PT. I should have said ¡°If you are of the opinion the Kiwi Dollar is in for a fall and it turns out to be so then investing on foreign exchanges will increase your returns. This excludes duel listed companies also listed on the NZX as PT points out. This of course makes the original post totally irrelevant. Sorry guys and girls. Worse still, I was sober when I wrote it too. PS PT, Im sure this isnt payback for something I said on the other side but I bet you were smiling when you wrote it

[Jess9]

I won't be attending the meeting tomorrow, anyone Auckland based and going, and care to post a few comments/thoughts after?

[etrader]

quote:Originally posted by Jess9

I won't be attending the meeting tomorrow, anyone Auckland based and going, and care to post a few comments/thoughts after?


will be there, will post my thoughts post meeting, it will come out public as soon as the meeting ends in terms of anything market sensitive, i see the 3 res passing as shareholders want action.

Oz has traded at a 10% discount vs the nzx most of the day on light volume.

[Jess9]

Thanks etrader, I tried to pick up a few (ASX) today, but missed out.

Also welcome to new posters!

[Jess9]

Also, just checked depth/sales, and there was some last minute interest in HTM on ASX, today. Seller depth looking much lighter than buyers and sellers spacing out in their positions. If news remains positive, we may well see some nice jumps, but lets get tomorrow sorted first.

While the U deal is very exciting and a real wild card, their is very good value in the known gold and cobolt projects - hope movement on these key value areas is clearly discussed tomorrow also.

[BAPP]

Hi Jess,

All going to plan I will be attending the meeting tomorrow.

IMO the passing of all 3 resolutions is inevitable and is imperative to get some progress made on all resource areas. However if given the opportunity my base comments/questions to the Directors will be:

That shareholders and the market need definite time lines for drilling programs and resource level upgrades in all areas.

Has any progress been made on finding a new MD and replacement Directors.

Assuming that due diligence on the Uranium initiative was successful, what is the foreseeable program to access the potential value. Also are any other parties involved in the venture and who are they. ( If the Uranium deal proceeds shareholders will not want to see a continuation of the slow progress that has been made on the other projects)

We need more clear information on the progress at the Thackaringa/Broken Hill cobalt project as there has been the same report issued by the company for the past two years with seemingly little confirmation of the resource levels and/or IPO progress.

(This is of concern when we are told the cobalt target levels for the project are around 30 million pounds. That could have a revenue value of $900,million and yet we have seen no real push by management to make something happen here)

If the Uranium deal proceeds shareholders will not want to see a continuation of the slow progress that has been made on the other projects. What is the

My only other comment will be with regards to my concern about the funding processes recently ‘employed’ and that I believe existing shareholders should and can be given opportunities to be involved in new share issues to some degree. (possibly in a similar scenario to last years rights issue).

Cheers
BP:)

PS: if you have any comments/questions let me know.

[Jess9]

Thanks BAP, above sounds good, I think management understand these concerns but it doesn't hurt to remind them (incl our new Chairman) this is critical stuff going forward, i.e. it will make or break HGD.

If time permits, and not covered during the session etc, the only other question may be around whether or not renewed interest is being shown by producing local players (Normandy?) towards rapid development via JV, or possible full permit transfer etc.

[Chippie]

Hi BAP
I fully support the following comments. Any progress there would be great.
Cheers
"My only other comment will be with regards to my concern about the funding processes recently ‘employed’ and that I believe existing shareholders should and can be given opportunities to be involved in new share issues to some degree. (possibly in a similar scenario to last years rights issue)."

[BAPP]

Good point-thanks Jess

JV partners in all resource areas needs to be clarified.

On a slightly different subject I'd like to congratulate all thsoe SMM shareholders out there. Well done if you've held on for the past year or so. (Hope you have a good parcel Strat!)

I hope HGD does as well in the future, especially as I sold the last of my SMM shares last week to top up with HGD.

Just shows you can do very well by investing for medium to long term. Hopefully HGD's time is getting closer!

Cheers
BP:)

[etrader]

quote:Originally posted by Jess9

Also, just checked depth/sales, and there was some last minute interest in HTM on ASX, today. Seller depth looking much lighter than buyers and sellers spacing out in their positions. If news remains positive, we may well see some nice jumps, but lets get tomorrow sorted first.

While the U deal is very exciting and a real wild card, their is very good value in the known gold and cobolt projects - hope movement on these key value areas is clearly discussed tomorrow also.


Where possible i hope people ask the hard questions and challenge where needed, as shareholders we all have a right be it large or small to voice our ideas. I have requested info in recent times on underlying value as previously posted but they have only replied with the certified resources, which is quite easy to assess. But you're right the cobalt is rarely talked about and most of us find it hard to find more info on this field, i've googled it and there is minimum info on their partner or about the field.

The main focus as known is
*Uranium is it a go or not
*MD who is he/she and what is their history, is there package
linked to performance in some way.
*what influence does Peter have now he's stepped down from MD but stays on as consultant and non exec director.
*where is Waihi heading and is there a partner looking and buying in or J/V.

Anyway will post tomorrow afternoon with format.

[Jess9]

Hi etrader, sounds like a few voices here, will be attending - good. Support each other during question opportunities, and pursue the harder questions. With the "changing of the guard", it will be good for the board and managament to feel some pressure to perform, we all support HGD and believe the permits etc do contain some significant resource levels, but it is now time to focus on our key value areas, and present these in a timely manner to the market. Prices for our resources are sky high and only going up, their is market support for miners (especially with a U focus) so now is the time! Go HGD!!

[jonny5]

Hmm, a bit bummed that I won't be able to make it to put some faces to names. All good though. You'd just think me a juvenile anyhow ;) Those of you who aren't under the proverbial gun at work this week give us your thoughts / opinions. Look forward to it

J5

[whatsup]

Any comments re the co announcement ?
Looks good from a going forward point of view!!

[Jess9]

Looks good. A close over 12c would show strong support by the market, interesting to see if ASX will power this up today, lets see some good volumes through on strong rising prices again! The ingredients are all there!!

Looking fwd to some meeting comments.

[etrader]

Went to the meeting today, info was released at the same time as the meeting.

They did a brief presentation on the gold and drilling, a brief overview on Uranium and the 3 Res were passed as expected.

No news on a new MD or progress on finding one either.

Was a very standard meeting with nothing extra from the stock exchange report.

[Year of the Tiger]

I'm a fairly recent invester in HGD so I went to the meeting for a look. (Considering I work only 100 metres up the road I thought I should go).

About 20 or so people there all up (Incl HGD team). From a newby's perspective, I did gain a bit of knowledge about their Gold and Uranium endeavours and it was also good to put a few faces to the "people".

I sensed that the speakers were quite economical with their comments but I guess there is always an issue (NZX & ASX) with making announcements of any significance at meetings.

Although everything seemed to be kept very low key, my own gut feeling is one of quiet confidence.

YOTT

[whatsup]

What the h@ll is happening ,price heading south why after the egm dont the punters believe any more?

[whatsup]

How much does it cost to make the HGDCA warrants fully paid shares and what is the last date to pay up?

[Hems]

Hi Whatsup

To convert the warrants you need to pay an additional 6.3cents for each warrant. Last day to convert warrants is 27 June 2007.

Hope this helps.

Hems:)

[whatsup]

Thanks Hems ,I note that this is your first posting ,hope that your future postings are of a more interesting nature than this proceedual reply
ps hope your not with HGD!

[Hems]

Hi Whatsup

No I do not have anything to do with HGD(except small a shareholder). I have been reading all the replies for sometime with interest and then decided i would like to join myself. Unfortunately it took a while to get my logon.

Here's to some happy times with HGD.

Hems:)

[STRAT]

quote:Originally posted by whatsup

What the h@ll is happening ,price heading south why after the egm dont the punters believe any more?
Someone let 100k go at around 9.5 but this is not indicative of the days trading. Steady at around 10.4 wich is pretty good considering nothing too exciting came from the meeting

[whatsup]

What does OXST mean along side thr HMT trade in Aust late today?

[Jess9]

Hi BAP - any chance to air those questions, or was the meeting on rails?

[BAPP]

Hi Jess9,

The meeting flowed pretty much as the HGD Directors wanted it to go and to be honest there were no real difficult questions presented to them by any shareholders. I think there may have been around 15-18 shareholders present, looking at who signed in?

The 3 resolutions were passed with relative ease.(no surprises)

During the meeting the partcipating management were rather reserved about the future prospects, but they were confident in their ability to progress all projects.

Geoff Hill, Murray Stevens and Peter Atkinson, did adequately answer most questions that were asked by shareholders and I did get the opportunity to 'pose' some questions either during the meeting or personally in discussions with Peter afterwards.

Their answer to the concern regarding the funding processes employed was put down to timing issues involved with going to existing shareholders especially with the limited capital that was required to initiate the Uranium deal at this point.(not sure I agree)

To date they have not had any success in finding a new MD to replace Mr Atkinson. I got the impression that they had another Director in 'mind' to fill the shoes of one who just resigned, however that was not confirmed.

Drilling at Broken Hill is likely to be underway by the end of June and it was good to clarify that one of the main shareholders of HGD - Southern Cobalt, is entirely owned by Mr Hill as I always suspected. i feel this is a real positive as he is likely to drive for progress when it is to his own advantage.

After talking with Peter I am very confident of my previous assessments of this cobalt project and the resource targets, so I'm looking forward to progress reports on Broken Hill.

The Uranium deal was clarified and while it is definitely an exciting prospect it is in very early stages. They did confirm the likely hood that they would look for joint venture partners once the resource levels were identified and the suggestion was they would follow a similar path to SMM if economical mining levels were identified. (Remember though, they are still in application stage)

I must admit I was very pleased that the research I posted in the last week, I was on the mark with regards to both the cobalt and uranium projects. (It's amazing what you can find on google!)

Jess, as you have already indicated the JV partners have been looking at the Waihi permits, and the Directors are firm on what they believe the value of this area is to HGD shareholders. To date the offers made have not met their valuations. It was indicated to me 'unofficially' that other potential suitor(s) are looking, (other than Newmont that is) and one particular company has been a regular visitor this year.

To summarise I was reasonably happy with the outcome and the answers. While not providing 'concrete' evidence of HGD being the next SMM, they gave me some confidence that the value of my shareholding is likely to improve.

I wrote down notes throughout the meeting and afterwards, so if I notice anything else of possible interest amongst my scribble I will let you know!

Also it was good to meet a couple of other HGD forum 'posters'.

Cheers
BP:)

PS: Whatsup-from memory OXST means Overseas Exchange Share Transaction, in other words the shares were purchased via NZ. If anyone wants to correct me on that, please do!

[Jess9]

Well done BAP.

This "Waihi interest" should continue to grow linked to the steady increase in the gold price, and with HGD's drilling work. If drilling hits commercial feeder veins sooner rather than later I wouldn't be surprised if we saw both bidders emerge with offers.

Newmont seem to like script offers, they grabbed Ottergold (other 1/3 of Martha)that way. Anyway, lets locate those rich veins first, then see what happens.

PS ASX trading volume was good but was almost fixed at 8.5c with no depth changing much, seems odd, bit like it was a pre-agreed price point, but I guess just vagaries of the market?

[BAPP]

Hi Jess,

Looking through my notes I also 'jotted' down that HGD has investigated possible sales of cobalt and uranium to China. This must be a real possibility with Mr Hill's Asian connections and of course China is the most logical purchaser of such resources over the next few years.

The following comment is purely speculation on my part, but I feel that HGD & Southern Cobalt will provide JORC compliant cobalt levels at the Thackaringa project and establish sales contracts with a Chinese consortium just prior to an IPO of the project at the end of 2007. The target resource level at Thackaringa is 33 million pounds and with the current sale price being just above US$30 they have a possible $US billion of revenue.
( Again this is purely speculation on my part!) but that is what I would be trying to do if I was Mr Hill.

On the gold front, remember HGD also has permits in Northland which covers a huge area.

Put all this together and it is pretty good stuff for a junior explorer and not many other juniors have established resource levels ( JORC compliant) of 205Koz gold to support the underlying value of other assets!

Cheers
BP:)

[STRAT]

Thanks for your reflections on the meeting BP

[johnofthex]

I agree. Good coverage. Thanks for the work done.

[BAPP]

News release today:

Heritage Gold NZ Ltd has today issued 3,000,000 Options to Warwick Grigor, a
director of Far East Capital Ltd ("FEC") in consideration of the introduction
by FEC to Heritage Gold of the opportunity to enter into the joint venture
outlined in our public release on 12 March 2007.

In conjunction with the issue of Options, Heritage Gold has invited Warwick Grigor to become a director of Heritage Gold.

This must be good for the the future of the company.

Cheers
BP :):):)

[etrader]

They also in conjunction with that have issued the 2.5 mill shares for the first half of the uranium payment to the vendor, giving a total to date of 5.5 mill shares for the broker on introduction and the vendor.

Another Uranium company in N.T floated today up 200% over issue.

This stuff is hot hot hot

[Jess9]

Hi BAP

"Heritage Gold has invited Warwick Grigor to become a
director of Heritage Gold"...

...really hope he says yes, based on comments to date on this guy on this forum.

I think his acceptance is likely, based on your comments, BAP, and as those options may provide him with a significant reward for ensuring HGD keep kicking up higher, it may be in his own interest. No good if they fall below 3.5c again. He may also know a good MD/CEO candidate. Hope the board are trying to head hunt from an existing successful ex startup outfit, that would make sense to me. Perhaps a few phone calls to the Summit camp ;) "Hey how about doing it again - $150k plus a option pack you can buy an island and retire on - when HGD is $1+"

Steve F., did you mention this guy as a AUS Uranium Guru?? What are your thoughts for him on our board, would he likely add significant value? If he accepts, hope he also can apply his skills to Gold and Cobolt! Or should that be Cobolt and gold - BAP.

[Jess9]

Did a quick google on WG tonight, reading several articles, I think if he says yes, it would be very big thumbs up for HGD, and this would be reflected in the share price as he brings his skills, influence and contacts to move and shake little old HGD. Lets hope he is happy to hop on board then ; )

Need that new name soon then, bugger - that would have been a good final question for yesterday, BAP!

[BAPP]

Hi Jess9

I asked Peter that exact question and I also suggested they shoul consider something along the lines of 'Heritage Resources'. The feedback was positive and I believe this change could be seen in the future, however the drilling programs and resource levels would likely take priority IMO.

As I indicated yesterday I am now fairly confident in my research and previous posts, which include mention of Warwick Grigor. He has a great resume when it comes to exploration and mining in Australia, so I'm sure he would be an asset to the board if he accepts. Both Mr Hill & Mr Grigor working together could really push this company forward.

Things are happening and that's just what this company needs.

Cheers
BP:)

[BAPP]

quote:Originally posted by BAP

Hi Jess9

I asked Peter that exact question and I also suggested they should consider something along the lines of 'Heritage Resources'. The feedback was positive and I believe this change could be seen in the future, however the drilling programs and resource level confirmation would likely take priority IMO.

As I indicated yesterday I am now confident in my research and previous posts, which include mention of Warwick Grigor. He has a great resume when it comes to exploration and mining in Australia, so I'm sure he would be an asset to the board if he accepts. Both Mr Hill & Mr Grigor working together could really push this company forward.

Things are happening and that's just what this company needs. The combination of 3 resources that are f'lying high' price wise must be an incentive for shareholders and employees.

Jess, I think a good MD/CEO is probably worth NZ$250k + incentives as long as it is based on performance levels being achieved within predetermined time lines.

Cheers
BP:)


Whoops! pressed wrong icon-never mind you'll get what I mean

[steve fleming]

quote:Originally posted by Jess9



Steve F., did you mention this guy as a AUS Uranium Guru?? What are your thoughts for him on our board, would he likely add significant value? If he accepts, hope he also can apply his skills to Gold and Cobolt! Or should that be Cobolt and gold - BAP.


Hi Jess,

As BAP pointed out, Grigor's contacts/network and experience will be invaluable to the board. He is a deal maker, so expect more Dunmarra Basin type announcements to follow his appointment.

Grigor has a pretty loyal following amongst quite a few investors, who would likely follow him to HGD, adding support/strength to the sp.

Last but not least, he will add some much needed mining credibility to the board, and assist in raising the profile/exposure of HGD, which can only be a good thing.

So yes, he will be a real asset!

Cheers

[BAPP]

Hi Jess/Steve,

Lets hope Mr Grigor accepts the Directorship! I'm sure this will be very positive for the company in all respects.

For anyone who hasn't read the paper today the following link my be of interest;
http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10434210

Also here's a link to find a little bit about Mr Grigor's background:
http://www.fareastcapital.com.au/aboutus.asp

As Jess has pointed out a 'google search' of Warwick Grigor will enlighten you further about his credentials and what impact his involvement could have for Heritage.

It's all good news.

Cheers
BP:)

[ScrappyO]

Its about time we saw Heritage Gold in the paper.

[tobo]

http://www.theaustralian.news.com.au/story/0,20867,21515082-5001942,00.html
"ONE hundred and thirty-seven - and counting. That's the number of companies listed on the Australian Securities Exchange that have some exposure to uranium.
"...how is that investor meant to distinguish between the good, the average and the ridiculous?
"...Warwick Grigor wears several hats. He sits on the boards of Monaro Mining and Peninsula Minerals and he analyses the companies through his Far East Capital investment business. He says the biggest trap for new players is being impressed by a company announcing it has "radiometric anomalies".
(There is more, so you might want to read whole article)

Picking up on a few points, Grigor has been paid for his arranging the U deal with options. A couple of ways to interpret this:
He may see these options as very speculative in value (ie. might end up worth very little, or could be a very great deal) and happy to take decent quantity instead of smaller cash fee.
By this I mean his acceptance of the options doesn't necessarily mean he thinks HGD is at the top of the heap of the 137 companies. Obviously it doesn't prove he is not a beleiver either ...just inconclusive.
And it could be he just recognises the value in the Gold and Copper.

But getting onto the board, ahh, that would really show he's behind HGD. And he seems to be one of the U experts ATM, but also does have background in gold etc, so, as SF says, could assist in raising the profile/exposure of HGD... which will support sp increase.

Does increased sp make it easier to raise more cash in future? Remember GH said that us existing holders would get a chance soon with a Share Purchase Plan. I'd quite like more shares for 3c but will we have to pay 10?

[etrader]

Does increased sp make it easier to raise more cash in future? Remember GH said that us existing holders would get a chance soon with a Share Purchase Plan. I'd quite like more shares for 3c but will we have to pay 10?


[/quote]

When a s/p is high it's cheaper for the company to do a script offer to purchase assets, a company could have a mining licence to U in oz with a fair value of $2mill say it's easier to issue shares to the holder when the s/p is higher.

Not sure on the fundamentals of it been easier to raise cash when s/p is high, but it would be only fair to ask existing shareholder to have a pro rata issue at a fair price which they did indicate was a possibility but they would come to us when large amounts of cash are required, in the last issue of 20 mill that was a small amount to get funding for U.

Articles in the age and herald, stack up very well and it gives me confidence if Warick comes on board now that he has a vested interest in the options of the company, researching about him he does have vast experience so can only be positive for hgd.

[Jess9]

Pure speculation all, but...wonder of Warwick Grigor (WG) may also be part of a deal to get the cobolt project going next. WG seems to have deal making skills and Geoff Hill (new Chairman) appears to hold the other 2/3 broken Hill Cobolt (per BAP - was this correct BAP?) - these two individuals may have a great cobolt deal cooking right now. That would be a nice next (and soon) announcement for HGD and would keep interest high (and possible make it roar again). Something along these lines may make sense, to ensure all warrants are taken up by end of june.

Lets see HGD at 15c + soon!!

[Jess9]

also, wonder how long it will take for the U exploration permit to be issued? When this is (hopefully) granted - we may get another small surge of interest, as project risk is somewhat reduced, and more certainty of activities (i.e more chance of a commercial U strike, or creation of a valuable permit that others may want!) occurs etc.

Quarterly will also be out soon - should flesh out and wrap up progress details issued to date etc.

Above will also keep interest/focus on our fav. minnow - while it grows ; )

[BAPP]

Hi Jess,

As I indicated in my post regarding the outcome of the meeting- Mr Hill indicated that he owns Southern Cobalt and Southern Cobalt owns 66% of the Thackaringa project/Broken Hill cobalt project with HGD holding the remainder. Southern Cobalt also owns 10% of HGD, which in turn obviously makes Mr Hill a very influential person with regards to the future of HGD.

As I commented in a previous post, I feel that HGD & Southern Cobalt will provide JORC compliant cobalt levels at the Thackaringa project within the next 6-9 months and establish sales contracts with a Chinese consortium just prior to an IPO of the project at the end of 2007.

The target resource level at Thackaringa is 33 million pounds and with the current sale price being just above US$30 they have a possible $US billion of revenue. (You can also research this area on google and I suggest you check some reports from Rio Tinto regarding the area in the late 90's)

Jess, going back to your question regarding the the Uranium permit application. The management covered this at the meeting and the permit may take between 3-6 months to be granted and then drilling will take 12 months or so to confirm any deposits which can be economically mined.

So as I indicated in my report the Uranium project is in it's very early stages, however the ground work has been done and the management seem very positive at this stage. If Mr Grigor does join the board of Directors we will get a 'real' indication of just how confident they are.

Fot the HGD management the priority should be to keep the current momentum going throughout 2007.

Cheers
BP:)

[Jess9]

Thanks BAP. See spot gold up 10/oz today, now 685 USD. Nice, 1000 mark is slowing being reeled in ; )

[Jess9]

Hi BAP, was Peter able to give ballpark figures for offers for Waihi permits, to date? Wonder if they were offensivly cheap, or in the realm of "opening starters"... for continued negotations

Do you know if their remains any interest for JV (as opposed to cash purchase of permits)? JV could leap start production, as obviously all the processing gear and digging equipment and skills are down the road, maybe a good way to get th 205oz out and sold. Make some good cash for further drilling and adding resource. Also remember toll treatment was discussed sometime back as well.all food for thought.

[BAPP]

Hi Jess,

The discussion with Peter was very general and there were no figures/values mentioned.
Obviously Peter can not say much in these situations due to the sensitivity of such information.

However I did get the impression that Newmont had not wanted to pay a reasonable/fair price for the assets and had tried to use HGD's low share price as leverage at the time.

As I noted previously, it seemed that Peter was adamant that he and the Directors would not negotiate with anyone who was not willing to pay fair value for the gold asset.( good on them, especially with the price of gold on a steady increase.)

Peter also mentioned that other companies had approached HGD recently and one particular company had made several return visits this year. ( So my interruption was that discussions were in very early stages, but the interesting point made was that the other companies had approached HGD.)

IMO we will see further drilling progress made at Karangahake with positive results that will in turn put pressure on interested parties to get serious about their involvement in the project whether it be by a JV or outright purchase.

(Please remember this is purely my opinion and readers should be aware that I have a significant interest in the company). But if you do the research I’m sure you will come up with the same equation as I have.

I believe the next few months will be even more significant if the POG can break through the US$685-$720 barriers. This will be the next resistance point and if that resistance is broken easily, then IMO US$800 may get tested this year.

Jess, as I noted on Thursday I have 'jotted' down heaps of notes regarding the meeting, so if you have any other questions I will try to reply in an honest manner.

Just like your question about a name change, I had to go back to my notes, because even though I had mentioned it to Peter it wasn’t a high priority for me. (the only reason I asked was because it had been mentioned on this forum)

Of course a name change makes sense with the company now exploring for three different resources, in two different countries.

Cheers
BP:)

[Jess9]

Big bites at 8.4 AUS (total 1m ish) - wonder if someone taking a punt that Warwick Grigor will accept HGD board offer, and we will see a continued short term price increase/spike. Go on WG, accept ; )

[BAPP]

Hi Jess,

Your right, it does look like someone is backing Warwick Grigor to accept the directorship offer at HGD. (Lets hope he does!) I assume we should know fairly soon.

I also wonder if any companies that may be looking at HGD's Waihi gold propspects will have to seriously decide their intentions soon as the price of gold looking rather bullish. With this in mind I would suspect the longer they leave it, the higher the value expectations will be by shareholders.

Cheers
BP:)

[ScrappyO]

Maybe some of those SMM shareholders might want a piece of the HGD Pie.

[etrader]

quote:Originally posted by ScrappyO

Maybe some of those SMM shareholders might want a piece of the HGD Pie.

Yes a possibility of funds moving this way.

If a large mining company was wanting to buy or jv on waihi would it not be cheaper to take over the whole company split off the remaining assets in a small ipo and secure the whole thing in one hit.

Obviously to shareholders advantage is we have current chairman and founders high on the list of ssh this would help to reduce that chance of an easy take over, thus creating a pent up demand on the offer, this is only an outsider chance but assessing the value of resources been substancially higher than the total listed value of hgd, an ipo of cobalt and U combined would be taken up easy.

[lager]

quote:Originally posted by ScrappyO

Maybe some of those SMM shareholders might want a piece of the HGD Pie.


I am sure SMM holders is looking at HGD.
Let's hope we get 'U' fast like SMM.
My prediction is that HGD will also follow in SMM path with 'U' as the target approached.

[Jess9]

Interesting comments all. $84K into HGD on ASX open in one bite, maybe a purchaser also adding to an existing position, looks like another sign of support/strength going forward. Of interest, were they placed to sell or buy, or just flicked through? Anyone notice?

This is going to be an exciting little share for 2007! Just wait till the U and cobolt drilling commences towards 3rd/4th quarter, and gold drills to keep interest up in between, maybe a few surprise announcements, and then their is each metals price heading on up!

This one may pay off the house yet - give it 12 months from now. Lets see 50c plus. Count downs on...

[Jess9]

Not sure if posted already, but the focus/profile on U is rising...

Heritage Gold NZ Ltd StoryRSS
--------------------------------------------------------------------------------

Heritage hopes for shift on uranium
Email this storyPrint this story 5:00AM Friday April 13, 2007
By Christine Nikiel


Uranium prices are rising because of plans to increase the number of nuclear power plants around the world.
Listed gold explorer Heritage Gold is going ahead with a uranium exploration venture in Australia despite the country's long-standing ban on new uranium mines.

The dual-listed company is banking on pressure from rising global demands for "clean" energy to force a policy change by the time it finds uranium. Uranium prices are rising because of plans to build nearly 200 nuclear power plants around the world in the next 10 to 15 years.

On last week's spot market, uranium was US$113 ($155) a pound up from around US$7 a pound in 2004.

Australia's "three-mines policy", put in place by the Labour Party, has deterred investors and limited uranium production there. Uranium mining and processing is also banned in the Labour states of Western Australia and Queensland but they have indicated a willingness to relax restrictions.

Heritage Gold's selected area is in the Northern Territory where one of the country's three uranium mines is operating. The other two are in South Australia.


Advertisement
AdvertisementOutgoing managing director Peter Atkinson said it would be better to explore where a mine was in operation. "And everyone knows we won't find it tomorrow so there's time."

Due diligence concluded the venture, with an Australian syndicate, showed potential. Located in the Dunmarra Basin, the area "appears to be a significant but overlooked geological environment that could host valuable uranium resources".

Atkinson resigned last month but will stay on until a replacement has been found.

The company will continue exploring for gold here.

In its agreement with the Australian syndicate, Heritage Gold will issue 2.5 million fully paid ordinary shares to the vendors immediately after due diligence and another 2.5 million fully paid ordinary shares when the exploration licences are granted.

A further 20 million shares will be offered at a price of A3.5c to "sophisticated and professional" investors.

Heritage Gold shares closed at 10.5c on the NZX yesterday.

[BAPP]

HGD
18/04/2007
DIRECTOR

REL: 1711 HRS Heritage Gold NZ Limited

DIRECTOR: HGD: New Director Appointed

Heritage Gold is pleased to announce that Mr Warwick Grigor has accepted the
Board's invitation to become an Independent Director of Heritage Gold,
effective Thursday 19 April 2007.

Mr Grigor specialises in research-based mining company financing and
corporate advisory services through Far East Capital Limited (FEC), which he
founded in 1991. Prior to forming FEC, Mr Grigor gained extensive experience
as a senior mining analyst and research partner with several Sydney stock
broking firms.

Mr Grigor is a graduate of the Australian National University where he
completed degrees in law and economics.

Managing director Peter Atkinson says: "We are delighted to have secured
Warwick Grigor's services as an independent director, and look forward to his
input to the board."

Heritage Gold is actively pursuing alternative mining opportunities to gold
including cobalt and, most recently, uranium.

"Warwick's experience and knowledge of the gold sector as well as other
minerals will be invaluable in advancing Heritage Gold's development."

Mr Grigor was an initial investor in Heritage Gold when it floated on the New
Zealand Stock Exchange in 1986. He assisted the Company to secure its IPO
funding and overseas shareholder base, and subsequent listing on the ASX.

For further information please contact:
Peter Atkinson
Managing Director
09 303 1893
021 630 463

[U-rain-e-um]

This announcement hasnt hit the ASB website yet. Thanks for that BAP.
How do you think the market will react?

[COLIN]

Seems to be just a big yawn for traders on the ASX.
I'm starting to get a bit depressed about my recent (misguided?) decision to get into this outfit - fortunately in only a small way.

[etrader]

Interesting why they released this at market close when asx is still open for another hour, how come they did not report at market open. Yes seems like asx saw no interest in that, just another board member. Light volume, has slowed down on nzx of late and price just softening off a little as nothing more of substance.

[Jess9]

Great news, and very exciting!!! Having WG on the board supports HGD's potential discussed to date and this appointment should be like dropping a fire cracker into an old folks lounge ; )

This guy appears to be a mover and shaker, just what our new Chairman needs to take HGD up to the next level!!

Of possible interest...

from a quick Google I noted the following:

--------------------------------------
Insider Profiles - Warwick Grigor


OFFICIAL APPOINTMENTS

FIRST AUSTRALIAN RESOURCES
Non-Executive Director
FAR.AX
(share price has remained flat in last 12 months)

PENINSULA MINERALS
Executive Director
PEN.AX
(this share has gone from 2c to 10c in last 12 months - and remains in a nice uptrend)

TIANSHAN GOLDFIELDS
Non Executive Chairman
TGF.AX
(this share has gone from 30c to 48c in last 12 months - and remains in a nice uptrend)

Interests in MRX.AX, which has gone $1 - 2.50 in last 12 months, and remains in nice up trend.

3/4 is not a bad batting rate! Now lets now make that 4/5. :D

[Jess9]

Correction, make that MRO.AX not MRX[:I]

[Jess9]

Also noted kitco gold over 690USD/oz and I like the sound if this (from the after close announcement)

Managing director Peter Atkinson says: “We are delighted to have secured Warwick Grigor’s servicesas an independent director, and look forward to his input to the board.”

Heritage Gold is actively pursuing alternative mining opportunities to gold including cobalt and, most recently, uranium.

“Warwick’s experience and knowledge of the gold sector as well as other minerals will be invaluable in advancing Heritage Gold’s development.”

Cheers equity holders! Put the bubbly on ice for later this year ; )

[rev]

Don't cut yourself too deeply Colin, I think there's been good gains from my late entry in early January - a dabble on both exchanges, no complaints here.

WG is another solid foundation point for Heritage.

[Jess9]

Hi Colin. Todays volume was just holding pattern, small bounces between between the boerses. Small waves lapping up and down only - the tide is still rolling in for HGD. Note the volume dropped away as price decreased below 8c AUS. Also remember 1m went through yesterday in a block at 8.4c AUS. Looks like who ever got them also got their punt right. Be interested to see if we get more ASX immediate interest in light of todays late announcement.

[tobo]

mmm, 2 hours open in NZ first, and this (NZ) forum has more traffic than, for example, Hotcopper on HTM. Perhaps there will be an indication on NZX. Last trades on both exchanges were down, and agree about the waves lapping and big block yesturday. Will watch tomorrow am. (Must confess, I do like to see confirmation on ASX of NZ morning activity)

[etrader]

Balance of the 20 mill were issued today so hgd has a stock pile to get things moving, not much interest in shares since the annoucement yesterday of W.G.

[Jess9]

Guess we will need a new announcement of substance to kick things up, shouldn't be too far away, as you say there are $ to do the work, and we know the areas to apply them to. WG is likely also not starting cold, and seems to have had his hand in action prior to his nomination and board acceptance, therefore maybe more is coming shortly.

Time will tell, watching for the next announcment, and quarterly.

[Jess9]

See ASX down near 1% as well today, HTM holding OK with respect to this.

[Jess9]

Slow ho hum week, but with respect to price and volume this was positive, i.e. only a small retracement on small volume, and note there were less being sold as price slipped - total slip of 10% for week?

This 10% slip, placed in context of significant rises over the last 3 months (i.e. 3 c to 10c) is not bad, and in fact much better than the normal overshoot pullback that could be expected.

The trading pattern indicates to me the market is content with HGD's change in direction and (at last) rev in pace, and is content to wait for recent iniatives to unfold..and this to be reflected in more fevered share price action! :D

Gold still over 690USD at week end! Positive for HGD's value of current in ground reserves, and for raising and peaking JV interest in likley further potential of a "big find" in our Waihi permits.

Anyone know what cobolt price is? If this is staying near or over $30 Broken hill etc, will be very "hot", later this year for HGD.

The issue of the U exploration permit, and then (pre-funded) uranium drilling will be a wild card to the share price towards year end. Be nice to get a commercial hit, and a Summit result!! However this is a wild card, but even the chance will likely spur the share price, during U drilling.

All the above stacks up at a very bright future for past faithful holders, going forward. HGD's time has come in 2007, and WG's appointment is the start of fresh and motivated people joining to make the above happen!! Lets see HGD finish in the top 3 of the sharetrader competion for 2007!!

Happy weekend all!

[BAPP]

Hi Jess,

Cobalt is at US$31.50 per pound for April supply contracts.

Here are a couple of links I use for sourcing metals prices:
http://cobalt.bhpbilliton.com/
http://www.kitco.com/charts/livegold.html
http://www.uxc.com/review/uxc_Prices.aspx

If you follow the cobalt link through to recent sales(at top of page), you will see that the price of cobalt has doubled in the last 6 months. I have read reports suggesting that it is likely to double again in the next year and that demand will increase by around 15% per year for the next 10 years or so.

The next few months would seem to be an ideal time for HGD to take advantage of the huge resource potential at Broken Hill! The indication given by Mr Hill at the shareholders meeting was that a drilling program at Broken Hill is planned for June/July.

Cheers
BP:)

[Jess9]

BAP , from memory (as they have been chipping away at the cobolt project since early 2000) and I think from comments you have made here, management have identified the commercial grade deposit and have limited drill results indicating deposit was "open to depth". Or is this overstating results to date?

$60 US would sure bring in some cash. Let the cobolt drilling commence!!

[Jess9]

I always thought broken hill would be a nice little surprise, tucked into HGD as it is, almost hidden in the financial accounts etc. With some positive action from the new board (maybe WG to assist GH etc) this "little surprise" maybe much bigger than I originally thought - and if so a very nice bonus!

Gold, cobolt and maybe uranium - HGD has a finger in three big and lucrative pies :D

[whatsup]

HGD ,slipping ever so slowwwwwwwwwwwwwwwly day by day ,I guess that there will be continued weakness until there is something earth shattering to announce apart from the change of direction that has taken place so far,
.12 cents seems a long way off from here!!!

[jonny5]

.12 cents? Here's hoping not. Others thoughts? light slippage due to disinterest or something more sinister. Considering another buy in if the opportunity arises

J5

[STRAT]

Boardroom Radio http://www.brr.co.nz/partner/smallcaps/event/HGDNZ/60154/19744

[etrader]

All very quite on the HGD front from investors. Obviously the info investors were waiting on re: board members/uranium and funding have been announced, and i guess the uranium was priced into the stock when the it first came to light. So has drifted back on light volume, will be waiting on more concrete info to follow.

[BAPP]

IMO the present trading patterns were to be expected after the initial excitement and share price ‘spike’ due to the Uranium announcement. (You can't expect good news every day-can you?)

The Karangahake drilling progress and directorship announcements added little to this news at the time, however in my opinion the next 3-4 months will be the most important period since the company first listed and both of these items will play there part in the success of the company.

In the next few weeks we should have detailed results from the Karangahake gold drilling program and we should also have an indication of the cobalt drilling situation at the Thackaringa project.

In both instances the introduction of Warwick Grigor to the board of directors should play a significant part in in the success of furthering the progress of both initiatives.

The target resource levels for Karangahake area is 5 million oz of gold and for Broken Hill project 30 million pound of cobalt!

It is now critical that the directors step up the momentum with these projects and show the markets that HGD is more than just a ‘penny dreadful’ stock and that these target levels are realistic.

Towards the end of last year it was announced that planning was underway for a drilling programme to further test the extensions of the cobalt mineralisation that had been identified at Broken Hill.

“The drilling will be completed by the third quarter of 2007.” according to the announcements by Peter Atkinson.

This was also confirmed by the HGD chairman and majority shareholder in the Thackaringa project Mr Geoff Hill at the special shareholders meeting on April 12th 2007.

It was also outlined in the prospectus dated 25 October 2006 that funds raised from the pro rata rights issue were intended to be used for further exploration of the company’s current exploration targets, to advance the spin-off of its New Zealand gold properties, to progress the Thackaringa cobalt project, and for working capital.

The funds were obviously not required for the ‘spin off’ of the gold prospects, so I see no reason for there to be any ‘hold ups’ with the cobalt drilling program.

it was also announced last year that the company was planning a public fund-raising in conjunction with another company operating in the Broken Hill region.

As I have indicated previously and one of the main reasons for my purchase of HGD shares is that I felt that HGD & Southern Cobalt will provide JORC compliant cobalt levels at the Thackaringa project and establish sales contracts with a Chinese consortium just prior to an IPO of the project at the end of 2007.

The target resource level at Thackaringa is 33 million pounds and with the current sale price being just above US$31 they have a possible $US billion of revenue. The demand for cobalt will continue to increase and without many new mines expected to come on-line in the next 3 years, the price will likely increase. ( some suggestions are that demand will increase by 15% per annum for the next 10 years at least!)

It’s my understanding that the costs of mining and processing cobalt are relatively low in comparison to many other resources and I have read reports suggesting that it costs as little as US$3.00 per pound to mine and process ready for sale.

For these reasons I anticipate a significant pay out to shareholders if this proceeds to plan. (this is my opinion, but please do your own research!).

Next week we should see results from the Karangakahe drilling to hopefully maintain or escalate interest. A ‘hint’ of an interested party in a JV or buy-out would really trigger some interest and this should be followed by the first results from Broken HIll a month or so later.

As I said, the next 3-4 months will tell us the real story of where HGD is heading. (I'm confident I have picked another SMM, so what do you reckon?)

Cheers
BP:)

[U-rain-e-um]

Well said BAP.
With new faces on the board and from what I can find out on the internet the right guys for the job, the next 3-4 months will be interesting. With only 200 million or so shares on issue we really only need to see one of these projects (Uranium,Gold,Cobolt)come through. I think these guys will steer HGD from a explorer into a miner. I'm in.

[croesus]

Agree also with your view BAP, I don't have any great expectation re the U. but am looking forward to the nxt report on drilling out of Waihi, and keen to see more go forward on the Cobalt.
If this share does as quarter as well as SMM. that would do me.
cheers Croesus.

[BAPP]

In my previous post I forgot to mention the additional cash that should be available for drilling programs/projects in the next month.

Assuming everyone takes up their options at 6.3c the company should have another $1.3 million to push forward the above mentioned gold & cobalt projects along with being able to keep the Uranium initiative on track.

It seems all very timely to me! (What do you think Jess?)

Cheers
BP:)

[U-rain-e-um]

Renewed interest on HTM
Some good news on the Horizan?

[Jess9]

quote:Originally posted by BAP

In my previous post I forgot to mention the additional cash that should be available for drilling programs/projects in the next month.

Assuming everyone takes up their options at 6.3c the company should have another $1.3 million to push forward the above mentioned gold & cobalt projects along with being able to keep the Uranium initiative on track.

It seems all very timely to me! (What do you think Jess?)

Cheers
BP:)


I think if the board are on their toes, then they will have action and announcments timed into the conversion to ensure interest is maintained and price supported. Be sensible, to ensure full conversion.

See a buyer sitting in the (ASX) market for 1m shares just over 7.1c AUS - $71k AUS in one block, and this was not touched all day. The investor may be "testing the water", and likely therefore sees much more value (as we do BAP) in HTM going forward. Wonder if there is any connection to the 1m purchase a week or two ago at 8.4c AUS?

Maybe more exciting announcments are not far away, with all this considered. Lets see 12c broken on volume next!!

[Jess9]

Cautious support building on ASX "buy depth", wonder if more drilling results are not far off? Make a good end to Friday, if something nice was announced!

[etrader]

Jess: I notice the buyer of 1 mill shares at 7.1c on asx has gone, wonder if they were looking for a hopeful buy or might know something more than the general market.

[Jess9]

Etrader. I think in terms of trends the market is always right, so recent (in the last 4 months or so) price and volume increases for HTM (HGD) stepping back from weekly flux etc, show good things are indeed happening. While announcements formally break news, to be realistic indications of direction etc often slip into market from the actual activites occuring (ripples in a pond etc)and where this is not done intentionaly or overtly, I guess that is part in parcel of the system. Therefore continued support, and in volume as you discuss notably on the ASX, may well indicate things are on track, or new things stiring. Both, indeed likely with WG's deal making skills newly acquired.

1m buy bid - Assuming no outright "game playing", is a good size buy bid, and sitting in the market (untouched at 7.1 c AUS) further supports growing confidence in the coy, i.e. it indicates that existing holders percieve fair value to be genuinley higher, and as this expectation filters through, should lead to further and possible quick price increases, as larger potential investors begin to see they may miss out on large blocks at good prices if they wait further, and want in on relatively quick profits from the next "hot" stock.

Quarterly Report is a bit late, maybe lots of new stuff to flesh out content is slowing the writers down, as opposed to copy/paste "continuing this" and "advancing that" comments ; )

Lets see more solid news and solid volume trading, next over 12c!!!

[etrader]

So good news on the Uranium front all round with labor overturning the ban 205/190. This will further add to support where hgd has chosen N.T a Uranium favored teritory, with WA and Qld the two areas one would want to keep out of for now. Do not see this reflecting in a spike as they are only applying for a licence which was expected to take several months. However it's another positive step for HGD.

[BAPP]

I think your right etrader!

This news will have little affect on HTM/HGD until their licence is granted. The licence will take a few more months to be processed and then it will be another year or so before resource levels are identified. we will probably witness price 'hikes' assuming each stage is reached and results are positive.

The interesting news should be tomorrow with the expected release of the quarterly report.

One could anticipate some good news soon if management wants to encourage investors to take up their option conversion at the end of June. With the 8 hole drilling program at Karangahake being close to completion I expect we should get more results plus a a report on the next stage that will clarify JORC resource levels. Also I would hope to find out exact details of the company's intentions at Broken Hill.

The management should be able to create some forward momentum with these projects and I believe it would be perfect timing to confirm resource levels and list Thackaringa on the ASX, while bringing in a JV partner at Waihi.

Both these steps could ultimately solve the existing problem of finding a replacement MD also! (but one step at a time!)

Cheers
BP:)

[Jess9]

From memory, only 4 holes released so far, so maybe the most prospective have been saved for last. Striking a feeder vein would be a great result (knock on wood etc), especially if as you say BAP, a JV deal is a possibility. An announcment for fast tracking the production from such a deal would be like a adrenilin shot into the heart, for HGD, and send a few shareholders hearts into flutter as well ; )

Also (like you) my guess is that it is highly possible a cobolt deal could be announced shortly. This one is been cooking slowly for some time know, but with the board changes - deals are hopefully falling into place. Let's have some more fun $$! : )

[BAPP]

Jess, I quessing that announcements will need to be fairly positive/convincing to ensure that option holders take up the conversion @ 6.3 cents per share. The share price has now stagnated after the excitement of the Uranium initiative and so something new is need to get shareholders to convert.

With this in mind and looking back at my notes from the shareholders meeting I did note that the management seemed confident about the drilling that was taking place at the time.

These results have not been released and at the time it was indicated that the next stage would be finished in a few weeks. As mentioned previously Mr Hill also indicated drilling at Broken Hill was planned for June. Looking at this scenario I would endeavouring to 'fast track' this drilling to encourage investors, especially those sceptics amongst us that the new management team is stepping up developments and driving HGD ahead.

Broken Hill must of course be of specific interest to Mr Hill being the major(66%)shareholder in the project.

I think this could be very exciting over the next month and IMO the share price could easily double by June if my thoughts are on the right track.

Cheers
BP:)

[Jess9]

Wonder if the 1m buyer picked up some shares on Friday in smaller chunks, or is looking to enter or top up over the next week or two, perhaps it is the start of new investors (supporters for WG's appointment etc) feeling more confident and starting to come on board early, before action fires up later this year.

ASX and NZX seller depth could indicate a positive change in confidence, and possible small share price move higher this week,if so can it roll over the last high? Watching with interest.

[BAPP]

I'm also wondering if a JV partner at Waihi could provide the opportunity for Peter Atkinson to be released from his MD duties. Then we could possibly see a new MD being based in Australia and focusing on Broken Hill and the Dunmarra Uranium project.

Northland could still hold huge potential and this should not be overlooked. I hope some of the additional funds are used to make progress there also. Peter wants to stay on as a consultant so he may still intend to lead the search to establish further permit areas for exploration.

He seemed very adamant that the management would not be 'selling off' the Waihi resource unless they received an offer that met the shareholders expectations. With the price of gold looking positive this could also become a possibility as the drilling program progresses and resource levels are confirmed.

IMO any interest from a JV party will come from an overseas company, so this may increase the interest on the ASX and provide HTm with further exposure.

Any thoughts!

Cheers
BP:)

[etrader]

Uranium: HGD/HTM has announced around 1200 sq km of uranium application tenaments, IMO they should start to accumulate more tenaments through various means, share placements, capital notes and jv's, this is a hot market and the prospect going forward is very positive with the ban been overturned by labour, and National now on the same bandwagon as a political stunt as the election is very close, HGD should only buy in N.T and S.A IMO as they are safe areas.

Gold: If a J.V partner buys into Waihi, looking at the total cap of hgd it would be easier to buy the whole business and carve it up but if that is not an option and management feel there is a large untapped value in the business then a large capital imput could support a j.v where hgd has large money to take the JOCR into production to capitalise on the gold market underlying.

Cobalt: As we've stated Cobalt has put on good value in recent times and the market ahead is looking very positive based on what it's used for, but management were very low key on this asset. It would be hoped that it will become a significant part of HGD and shareholders benefit in any potential float via pre allocated options in the IPO.

Management: With the huge demand for M.D in a booming resource market finding a M.D looks a hard task, initally as indicated they were expecting to have one within weeks, this is well and truely over now and no news, so one hopes when they do find one it's to the right degree.

Capital: HGD should start to get a good bank balance to justify their three commitments ahead of them so we can turn hgd into a mini smm, as reported HGD and SMM were very similar penny dreadfulls one obviously has leap ahead thanks for the forsite the other one has
some good resources but needs a very clear way to get them into production and produce cashflow in the future.

http://africa.reuters.com/wire/news/usnSYD111077.html
More reason why N.T is a good area to prospect.

http://www.australianmap.net/map/stuff/map5.swf
above is a map of where the uranium deposits are in oz, use the up arrow to make the map bigger.

[Jess9]

a little more support growing on NZX on open, interesting to see what the Aussie's think later today, hopefully in full support : )

[jonny5]

A question for all HGD investors:

Any of you have moral hangups of investment in Uranium knowing what becomes of Uranium-238?

Easily dismissed as it's "there" and not here, and if we don't do it somebody else will.

Just curious on others thoughts.

J5

[jonny5]

Furthermore for those of you unaware of the destructive capabilities of this byproduct please take a look at

http://en.wikipedia.org/wiki/Depleted_uranium

Essentially it's a miniature nuclear bomb. Comes complete with radioactivity and congenital birth defects.

J5

[Jess9]

Nice to see NZX providing the correct cue for ASX so far, ASX grinding higher on volume (over 1m traded).

J5, hadn't looked at all at the implications you raise, one assumes such issues will be resolved as the need and demand for power increases, and by end users. We still need to find commercial quantities of the stuff - within this exciting prospect area. I guess one step at a time?

[rev]

J5, no hangups at all from me.

And, (I know sentences shouldn't be started with an 'And') I don't lose any sleep over shampoo that's been tested on animals either.

Cheers.

[jonny5]

I've only recently become aware of the damage being done world-wide with this material.

I'll take a few steps back to explain the situation, feel free to call me a treehugging hippie but this issue in my mind is unignorable. The use of depleted Uranium as a weapon is a gimme for the US/Canada/Britain being so much denser than steel that it cuts through like butter (google for some photos, it will amaze). For years it was stored in high security warehouses with no obvious application. This once useless by-product now worth millions and a weapon in both Iraq wars, used by my fellow countrymen and in Kosovo by NATO. The density of the material is responsible for an immense explosion when a "hard" (steel etc) target is hit, creating radioactive Uranium dust for the masses. This material causes children to be born without eyes etc, and has a half-life (halving of radioactivity) of 5.4 Billion years. A documentary I've recently seen tells of a small Kosovo town wherein following numerous tank battles, within 5 years a third of the population (1/3 of ~5000) died from leukemia or other cancers.


Animals are here for me to eat. Humans are not.

[etrader]

last qtr just release what do investors think ?

Wonder if the slight pick up on volume and price is slightly due to the uranium events unfolding in oz

[STRAT]

HGD
30/04/2007
QUARTER

REL: 1605 HRS Heritage Gold NZ Limited

QUARTER: HGD: Fourth Quarter Activities Report

Heritage Gold releases Quarterly Report to 31 March 2007

Heritage Gold is pleased to present to shareholders its quarterly report for
the three months to 31 March 2007.

During the quarter Heritage Gold undertook transactions to diversify its
minerals portfolio and establish a solid platform for growth. The most
significant was the announcement to enter into a joint venture for a uranium
prospect in the Northern Territory, Australia.

The joint venture project in the Dunmarra Basin comprises three exploration
licence applications for an area totalling approximately 1,250 square
kilometres. "One recent development that we were very pleased to hear was the
Australian Government's consideration of existing controls on uranium mining,
processing and exporting. This may be a positive signal to investors,"
Heritage Gold managing director Peter Atkinson says.

Following extensive due diligence on Dunmarra Basin, consultants' engaged by
Heritage Gold revealed that "considerable potential existed for the discovery
of economic deposits in this part of the Northern Territory".

As part of its strategy to expand its interests to include uranium in
Australia, Heritage Gold arranged a placement of 20,000,000 shares at A3.5
cents, raising A$700,000. This capital raising was managed by Montagu
Stockbrokers in Perth, Western Australia.

There were several Board changes during the quarter. Mr Ralph Stagg,
Non-Executive Director, and Mr David Williams, founding Independent Director,
indicated their intention to stand down as directors. They subsequently
resigned their positions with effect from the Company's balance date, 31
March 2007.

Mr Geoffrey Hill assumed the role of Chairman from Mr Murray McKee, who took
up the position of Deputy Chairman.

After the end of the quarter Mr Warwick Grigor was appointed an Independent
Director of the Company.

Mr Atkinson also announced his intention to step down as managing director,
as soon as his replacement has been identified. Mr Atkinson will then become
a Non-Executive Director and consultant to the company. "The Board is
reviewing several candidates for the managing director position and we look
forward to giving investors an update as soon as possible," Chairman Geoffrey
Hill says.

The Company's gold, base metals and cobalt projects are progressing well. The
first 4 holes in the Rahu Ridge drilling programme near Waihi, New Zealand
yielded positive results. Results of the programme will indicate whether a
further gold resource is likely to be defined.

The Thackaringa Cobalt Project in New South Wales, Australia is currently in
the final stages of planning for a drilling programme to test extensions of
the known mineralisation.

Further details of each project can be found below.

For further information please contact:

Peter Atkinson
Managing Director
09 303 1893
021 630 463

DUNMARRA URANIUM PROSPECT (Northern Territory, Australia)

Heritage Gold signed a Binding Heads of Agreement (subject due diligence) for
an offer to enter a joint venture to explore for uranium in the Dunmarra
Basin, Northern Territory. The property consists of three exploration licence
applications totalling approximately 1,250 square kilometres.

Based on the positive findings by the Company's consultants it was agreed to
proceed with the Dunmarra uranium exploration initiative. Heritage Gold paid
A$10,000 to the licence applicant and issued 2,500,000 fully paid ordinary
shares in Heritage as part consideration. Heritage will issue a further
2,500,000 fully paid ordinary shares on granting of the licences.

Heritage may earn up to 50% interest in the tenements by the expenditure of
A$2M over

[Year of the Tiger]

quote:Originally posted by jonny5

Furthermore for those of you unaware of the destructive capabilities of this byproduct please take a look at

http://en.wikipedia.org/wiki/Depleted_uranium

Essentially it's a miniature nuclear bomb. Comes complete with radioactivity and congenital birth defects.

J5


jonny5, I'm sure you feel quite strongly about this issue but I feel there are better places to express your views. Perhaps you should look at the ASX forum and post on the U3O8 Uranium thread.

YOTT

[Jess9]

Only looked quickly over Quarterly so far, however two things noted, one that the Chairman is reviewing people for MD role, that sounds good, especially if new board members have had a hand in the selection or recruitment etc, and not alot more said about the Cobolt, except to support earlier indications of drilling targeted to start shortly (good news) - that said its what it doesn't say, as the quarterly must focus on summarising events (announced etc) I wonder if this indicates a rush of new info to come, we may get several cobolt annoncements soon, e.g. drilling started, funding/IPO arrangement communicated. That would certainly maintain the pace!!

[BAPP]

Well it was definitely one of the better 'quarters' for HGD and it's shareholders and I feel confident the momentum will continue.

I was pleased to read the following in the report: -'Planning is being finalised for a drilling programme to test extensions of the known mineralisation in the current quarter.

In addition, the Company's consultants have been assessing previous
metallurgical testwork to determine which processing options warrant further
investigation to achieve potential economic viability of the proposed
project.'

It looks like progress at Broken Hill is taking place about now!

Good stuff and along with the cobalt I suspect we will see more announcements over the month confirming drilling progress at Waihi and maybe a new MD.

Pleased I got in early!

Cheers
BP:):)

PS: jonny5, I understand your concerns, but can I suggest you post them on the 'off market' discussion forum. You may get a broader range of acknowledgements there.

[Jess9]

Hi BAP - yip Broken Hill is looking more likely to provide excitment, and soon! Some good drill grades into cobolt should provide the next flick in HGD share price, with a little luck before June, ensuring full warrent take up, and more cash for projects.

Also liked the report stating focus going forward on company growth i.e. share price appreciation! Good Directors have big stakes in this too, alignment and mutual benefit to holders etc, maybe a few more pleasant surprises later in the year, who knows!!

[Jess9]

Bit of afternoon selling into depth on ASX, pattern looked a little odd, wonder if a ruse by a larger player (maybe wanting more) flicking a few down and trying to flush out bigger sell parcels at lower sell bids. Or maybe just someone having to jump...or maybe just too much wine :D

Good night all!

[ScrappyO]

oh..its the wine.
I wondered why you seem excited all the time.:)

[BAPP]

Hi ScrappyO, (whoops must be the wine!)

It's good to see more people wanting to add a voice to this forum, but it would be better to see some constructive input. The regulars to this forum know that I, for one, hold quite a few shares in HGD and I suspect that I'm making a whole lot more money than you are, so if the wine tells a different story let us know your knowledge and experience is far greater than just the grape version!

I quite like a Chardonnay 3-4 years old and with 'oaky' overtures!
(Will go and take one out of the cellar right now!)

Cheers
BP :)

I'm quietly confident that Mr Hill and Mr Grigor will be able to find a replacement MD.(maybe that should be your first challenge ScrappyO!)

[etrader]

http://www.smh.com.au/news/business/uranium-now-hottest-in-resources/2007/05/01/1177788142735.html

More weight to the fact that HGD are moving into Uranium. Those investors who were early off the mark will thank their living star they got in early, the question is how long do people want to ride it for, just look at SMM when people made 100% and sold for .10c.

[ScrappyO]

[quote]Originally posted by BAP


I quite like a Chardonnay 3-4 years old and with 'oaky' overtures!
(Will go and take one out of the cellar right now!)

Cheers
BP :)

Bap could you use the off market discussions to talk about wines and not on this forum. Cheers Mate:)

I do have a couple of Questions.
Does anyone have any sort of idea how much they should get from the waihi operations.
Also does anybody know anything about Warwick Grigor and his dealings with the chinese. I did read an interview on him about a year ago that he was in talks with the chinese about finding a suitable company for mining in Australia. And that they were looking for an established mining business.Can anybody elaborate or is this just b***ocks.

Cheers
ScrappyO

disc hold hgd but not as much as BAP

[BAPP]

Hi ScrappyO,

Hopefully the following might assist in partially answering your questions (and no more talk of wine!)

Gold & Silver at Waihi is confirmed (JORC compliant) 205K oz gold @ US$650 per oz /800koz silver @ US$12. Although a big percentage (40-50%) of silver resource would be lost during the processing of gold, so really around 500koz silver with revenue potential

My understanding is that the cost of production is approximately US$350 per oz of gold and HGD would need to confirm resource levels of over 500K oz to support economical production. This would equate to a mine production life of around 10 years @ 50k gold production per annum.

HGD’s resource target for Karangahake is 1 million oz gold. (see www.heritagegold.co.nz)

The company also has gold and exploration permits which cover a large area of Northland.

The estimated resource level for the Thackaringa project is 33 million pounds of cobalt. Cobalt is selling at just over US$30 and I believe it costs less than US$4 per pound to process. Apparently the drilling program is about to commence and we could have results by the end of this quarter.

Broken Hill area is well known for it’s extensive resources. It was reported last year that the company was seeking funding to further progress developments at Thackaringa and that they had held discussions with a Chinese consortium who could be interested in buying cobalt on a contractual basis.

Warwick Grigor is the MD of Far East Capital and if you search his name on google you can find quite alot about his background. It seems he is recognised as a gold, uranium and metals 'guru' in Australia and he consults/directs other successful mining/exploration company's. From memory I think it was reported that he had organised a JV between a junior explorer with Chinese partner providing funding. I suppose that is what Far East Capital do!

While this does not give you a value of the Waihi resource I hope it shows why I am quite excited about the prospects. HGD is a speculative share, but I think it is worth the risk at this stage. IMO the share price is currently undervalued and should be trading at around 18-20 cents based on current information. If resource upgrades are confirmed then we could double/treble that again.

Cheers
BP :)

[BAPP]

Following up on my last post, some additional thoughts!

In 2004, consulting mining engineers (Tennent, Isokangas Pty Ltd) provided a report to HGD on a conceptual mining study at Karangahake.

The study was based on a an underground operation producing 50,000 oz of gold per annum. I think the study was based on a 10 year production life span, therefore requiring confirmation of 500,000 oz of gold with any silver being an added bonus.

They found no problems with the mining concept, based on HGD being able to identify the above gold resource levels required to support a mine.

At present HGD have established JORC compliant levels of 205,000 oz of gold.

The capital cost indicated at the time was around NZ$23.5M. Off course this will have also increased since the study, however the price of gold has continued to track upwards also and looks like continuing this trend in the medium to long term.

The report indicated an annual gross margin of approximately NZ$12 million was achievable based on a gold price of around NZ$600/oz.

The price of gold is now around NZ$900/oz, so in today’s terms a gross margin of NZ$16 million may be closer to the mark.

The real value of Karangahake will become evident when HGD management confirms resource levels are in excess of 500,000 oz gold. (or another way to look at it is, - they are almost halfway!)

I believe the company is approaching the final stages of their test drilling at Karangahake.

A simialr scenario present itself with the Thackaringa project. Drilling is in it’s final planning stages and is likely to commence in this quarter.

From the recent quarterly announcement:
(In addition, the Company's consultants have been assessing previous
metallurgical testwork to determine which processing options warrant further investigation to achieve potential economic viability of the proposed project.)

Confirmed cobalt resource levels are the necessary ingredient to highlight the value of this project also.

IMO, when these target resource levels are identified, Mr Grigor's experience and background will play a major part in the future direction of HGD and creating shareholder value.

Cheers
BP :)

[etrader]

BAP: Myself and other investors i'm sure appreciate your indepth knowledge of HGD/HTM so thank you for your updates on the stock.

Have looked at similar figures and the residual profit on a 10 year mining basis looks great, i feel that is where they want to leverage of with a j.v partner to get the capital in return for a holding in Waihi, I'm sure both a potential partner can see that long term value and that's why they're not going to let a holding to cheap to benefit all shareholders. Obviously any uranium value is not going to be seen for 18 months mininum. Cobalt if what we understand so far comes to light latter this year it could offer a substancial boost to the companies value.

[BAPP]

Thanks etrader, (I try to do my homework!)

Good HGD article in todays NBR. Maybe a hint of things to come!
(If so, we're on the right track!)

Cheers
BP:)

[etrader]

Bap: You'll notice on the heritage website they've updated top 20 again as of 30th april, don't have a copy of old list but new names making it into the top 10 so companies/individuals have been buying.

Also see in the 100k plus holders and overall increase in the amount of holders at those levels plus an overall movement in holders of the head shares, this is all positive that there is an increasing awareness of holders.

[etrader]

quote:Originally posted by BAP

Thanks etrader, (I try to do my homework!)

Good HGD article in todays NBR. Maybe a hint of things to come!
(If so, we're on the right track!)

Cheers
BP:)

Do You have a link via the web or could you post that on the web at all tried to access that on their site.

Cherz

[Yme]

hi all,
can someone please tell me the strike price of HTMO on the asx please [?][?][?]

cheers
Yme

[Yme]

[:I]sorry i found it ,,,10c NZ

cheers
Yme

[Jess9]

Hi YME,

Also, HGDCA (warrants and NZX only) have a strike of 6.3c NZ but only about 7 weeks remaining.

[tobo]

BAP, thanks for your valuation summary, especially estimated value p.s. of 18-20c.
I have tried to assign a value many times and get wildy different answers depending on mood and assumptions. (Some detailed spreadsheets).

I now have made this summary... and it reveals 20c!.

JORC resource is only 205,000oz. This is insufficient for an economic mine, and the least resource that would be mined is, say, 650,000oz resource.
Other evidence anticipates far more (HGD target 3.250-4.750Moz) so we can be pretty confident about the 650,000oz being achieved.
650,000oz gold (US$650 less US$350 production), plus 480,000lb silver(JORC less 40% wasted) (US$14 less half for production$) = US$198m, say $200m.
3Moz cobalt x 33% JV (US$30 less US$5 production) = US$25m.
Deduct, say, US$10m for 5 years exporation and another $15m for 10 years admin/overheads (pure guesses) = $200m, or $1 per share. That's NZ$1.20 less tax = 80-90c
80c per share is only gazumped if there is insufficient resource to mine at all. Even if 50/50 probablity, and then take off half for DCF, that's 20c per share.
Increased resource over 650,000 is a bonus. And you get your Northland gold money for nothing… and your U for free".

Disc: HGD,PDN(prev SMM),LYC

[U-rain-e-um]

Hi Tobo,
I would put the value higher than that on the fact that you are basing it on todays prices. Lets just look into the future say 2009/2010 when say gold is $1000USD, Uranium $200+USD, and Cobalt $50+USD. Work out the value on that one.

This might be of interest to all Heritage Gold Holders:

As demand rises for cobalt among aerospace and gas-to-liquid industries, Credit Suisse Group raised its price forecast for cobalt by 67%.

According to reports, cobalt will average $25 a pound this year but could rise to $40 by the end of 2007, Credit Suisse said. The bank said it expects “new demand from emerging markets, such as China and India, where the launch of low-cost airlines in air travel and mobile phone usage are set to multiply among an expanding middle class.”

The metal is an ingredient in high-temperature alloys used in jet engines. Cobalt is also used in catalysts that help to turn gas into liquid fuel, and in rechargeable batteries.

[BAPP]

Hi Tobo,

Remember the target resource level for the cobalt project is 33 million pounds of cobalt.
At the current market value of US$31.5 per pound that would value this cobalt resource at $billions, not millions.

My estimated valuation of 20c is based on current confirmed resource levels if the company was to sell of the Waihi resource as is, which is the type of suggestion inferred in friday's NBR article

IMO the long term outlook for HGD is far greater and I would suggest that if the gold & cobalt resources are confirmed at 650k oz and 33m lbs cobalt then your HGD shares will start following a similar pricing path to your SMM/PDN shares.

Of course time will tell and everything hinges around resource upgrade confirmation. Once we have resource confoirmation the market perception of HGD will change overnight and the value of the company will follow.

As you rightly comment on 'top of this' there is the Dunmarra Uranium exploration which will be pushed along in 2008 assuming licences are granted and there's also the Northland gold & copper permits.

Cheers
BP:)

[etrader]

BAP was just wondering if you had a link to the nbr article or could post the relevant info on this site if you had it on hand.

Cherz

[BAPP]

Hi etrader,

I was unable to find any web links to the NBR article, however the following is the base article from friday's NBR written by Hugh de Lacy.

I have left out the a paragraph that relates to SMM and PDN

Cheer
BP:)
--------------------------------------------------------------------------
Heritage has uranium Summit in its sights

Will the former gold specialist end up a takeover target?

It’ll be a few years yet before Heritage Gold can emulate fellow New Zealand explorer Summit Resources and become the overnight uranium darling of the Australasian stock exchange.

Heritage managing director Peter Atkinson said it would be “a nice thought” if the former gold specialist ended up a takeover target on the strength of its three pending uranium exploration permits in Northern Territory’s Dunmarra Basin.

Summit, which also started out as gold explorer in New Zealand, became a joint venture partner in a uranium prospect near Mt Isa in Queensland in the 1990s, and in February became the target of a hostile takeover bid by Australian uranium miner Paladin Resources.

“It’s too early to say if the same thing might happen to Heritage,” Mr Atkinson said.
“Summit had those [uranium holdings] when they left New Zealand in 1997-98, and they’ve spent a lot of time working on them.

“In the intervening period the climate for uranium has improved substantially.”
Uranium has shot up in value from $US7 ($NZ10.14) a pound to more than $US85 ($NZ123) as global warming fears boost global demand for more nuclear power stations, with around 200 due to start construction this year.

Australia holds about a third of the planet’s known uranium reserves, but much of it has been locked up by state and federal politicians pandering to anti-nuclear sentiments.
With nuclear-generated power now seen as a major means of reducing greenhouse gas emissions, Australian politicians have shifted ground to encourage new uranium mining.

Though not to the same degree as Summit, Heritage has already seen the effects of its uranium diversification on its share price, which has more than doubled since the Dunmarra Basin position was announced in early March.

Heritage shares are selling for about 9.5c in New Zealand and about 8Ac in Australia, compared with 4c and 3.5Ac respectively before the announcement.

Heritage has a binding heads of agreement to enter a joint venture exploring for uranium in three areas totalling 1250 square kilometres.

It has paid $A10,000 and issued 2.5 million ordinary shares to the licence applicant, and will issue a further 2.5 million shares when the licences are granted.

Thereafter Heritage can earn up to a 50% interest in the tenements by spending $A2 million over the next three years. Beyond that a further $A2 million expenditure will see its stake rise to 75%.

As well as the uranium prospects, Heritage is running a 1500m diamond core drilling hunt for gold in the Rahu, Talisman and Dominion Knoll tenements near Waihi in the western Bay of Plenty, and is also hunting for copper and gold in Northland.

Its other main property is its 33% ownership of an exploration and two mining licences at the Thackeringa cobalt project in New South Wales, where it is planning a drilling programme to test extensions of the known mineralisation.

End
------------------------------------------------------------------------

[Jess9]

Shame more wasn't said of the cobolt deposit, we know thats there now and drilling this month is to see how much further the "open to depth" goes.

Cobolt could be a "Summit" maker, if cobolt price increases carry on up - as some believe.

Maybe HGD will be a t/o target precipitated for full control of this resource - if extensions prove up

[etrader]

BAP "the fountain of knowledge"

Looking at the latest top 20 holders, as i don't have a list of the previous group, do you note any entries of some importance or just a slight movement in existing with a few exits and a few new ones.

Cobalt: Who are the main players in the oz/global market who could see cobalt as prime value for takeover, if this resource that's already estimated, shows a large extention then a t/o could be very viable, where they can carve off or float off the existing none core assets to a ipo.

Uranium: Has been heating up in a few smaller listed stocks, once the dust settles from smm/pdn and areva there is likely to be more consolidation in the small capped co's who have large tenaments but little capital.

Options: Note that around 20 mill of options come up next months so hgd will boost the balance up for more expantion.

Has anyone research or asked what their 1/4 cash burn rate is to keep hgd on track with the programmes they have underway.

Well we as current shareholders who are going to sit in for quite a period of time hope that the many articles of research and general views proves to be worth it long term, I guess there are still a couple of key announcements we're waiting on with update ? and M.D. I guess there is a chance if no m.d is found that one of the recent board members could be offered that job.

[BAPP]

Hi etrader/Tobo/jess and any others willing to read

A good web site to find info on gold and gold mining is: www.barrick.com

Go to investor links and check out the ‘Investors Fact Sheets’ and ‘About Gold’ links.

There is some good ‘rule of thumb" info to be found as you look at their $ values.(I often use these as a guide to my research)

IMO resource level confirmation of 500k oz gold will be enough to support a mining operation for HGD at Waihi. They have the location, some of the infrastructure and the price of gold on their side-plus the hint of a JV partner or buyer!

You are right, there is no significant change in the top 20 shareholders, but as you highlight there is an increase in the number of holders with 100k parcels and also the number of overall shareholders has increased by over 200. (good stuff)

We have Clodene Pty Ltd, Relativity Trading Pty Ltd, Beirne Trading Pty Ltd and Slipline Pty ltd all dropping off the list, however we have the addition of Eastern Porphry( for obvious ‘Uranium” reasons) and the inclusion of Gurravembi Investments Pty Ltd and Inswinger Holdings.(probably for the same reasons!) I think that Gregorach is a vehicle for Mr Grigor and has been a shareholder for a while.

I also notice that Adam Davey has increased his holding, while both Patrick Elliott and myself have decreased are holdings slightly.( In my case I needed the funds to to be able to convert my warrants next month, so I’ll be back up again by the end of June!)

With regards to cobalt I believe that bhpbilliton are one of the main suppliers and that cobalt is sold on a contract basis using an ‘open sales system’ which was a introduced a few years ago. The April contract price has dropped marginally($1 per pound), however the medium to long term outlook is very positive due to supply and demand. - see:

http://www.goldeditor.com/articledisplay.php?id=1598. and
www.formcap.com/s/CobaltNews.asp
www.mineralsuk.com/britmin/cobalt_23apr04.pdf

Note that cobalt is expected to rise. Earlier this month, Credit Suisse said the metal could spike to $40 per lb or more as demand grows. (demand is growing, just do a google search on the application cobalt is used for-quite amazing really!)

I also notice that most of the cobalt currently comes from Nickel producing mines, I wonder if the reverse could occur?

A target resource of 33 million pounds x US$40 per pound (with willing buyers), less a $5 per pound production cost, less some overheads & expenses. (wow!) Lets hope HGD gets moving on this quickly! (no wonder Mr Hill owns 66% of Thackaringa!)

Cheers
BP:)

PS: another link is http://cobalt.bhpbilliton.com/ which shows cobalt prices. Also take a look under related links to the Cobalt Development Institute for cobalt info!

[tobo]

Thanks BAP for links. Plenty of info for research. Years ago when did commerce degree I was horrified at the degree to which detail is removed from management accounts to create published accounts. It's hard enough running a company when you have access to all the detail of what things will specifically cost for the project in hand, and detail of forecasts breakdown, sensitivity analysis and what-ifs. There was no internet and all you had was the newspaper and occaisional published accounts. I was not into investing at that time, and now have long since got out of the accountancy/invesment banking industry.
Having recently taken up direct investing I am enjoying being able to understand and analyse industries and businesses based on sources on the www.

BTW, I notice 22% of cobalt use (2005) was for batteries, (incl (Nickel metal-hydride) and there is an anticipation of increased demand coming (among other things) from hydrid/electric cars.
The folks keen on Rare Earths (Lanthanides) are betting their dollar generally on the move away from Ni-Cd (Ni Cadmium) to NiMH (Nickel metal-hydride) batteries for safety reasons (EU banned use of cadmium, and in particular on talk of 2 million hybrid cars in 2010.

so all thinking the same way: more demand... increased prices. Fits nicely with my view that going into the future we will see a world where living with all the mod cons will be an expensive affair. Lots of people with the money to continue to afford the nice things made from dwindling resources made with increasingly expensive (green) energy. An extension of the idea that some people happily pay $5 for a teeshirt at the warehouse, others want the nice fabric that you get at Smith & Caugheys.

So Mr Grigor doubled his (our) money watching his cobalt go from $15 to $30 and now starting the wheels in motion to collect as it threatens to keep on increasing. (He hasn't seemed in particular haste about this, and I think it might be that he's seeing increasing prices into the future... almost a feeling of the slower the better. Similar to the lack of haste in signing up other Waihi partners, only here it is because of the resource potential.

Oh, picked up a few more yesturday to 9c.
Cheers

[etrader]

report out today from Oz written by none other than Far Eastern our own Mr Grigor. Interesting then why Grigor is backing HGD/HTM not a mentin in the report of htm/hgd, and no disclosures of interest. He obviously sees some potential in hgd to have back in the tenaments into this firm put his name on the board. Still no news on M.D

Bap have a read of the latest release from GME on asx that came out 14/5 which has a release re: cobalt/nickle. I wonder when you read this mix, could this indicate when a cobalt discovery is made that viable nickle is there ?

Uranium hopefuls must act to maximise prices
14th May 2007, 9:00 WST

The race is on for uranium companies such as Deep Yellow and Marathon Resources to develop their projects within the next three years to cash in on the booming uranium market, according to a Far East Capital report to be released today.

After comparing the potential profitability of emerging yellowcake producers based on standard industry economics, Far East Capital uranium analyst Warwick Grigor said there was fundamental value in emerging producers but companies needed to fast-track projects if they were to maximise the peak of the price cycle.

The spot price for the radioactive ore has climbed nearly 180 per cent in the past 12 months to a record closing price of $US120 a pound last week, while Nymex December uranium futures are trading at $US153.90/lb.

“Overwhelmingly the conclusion is that the economics are real and companies should be pushing ahead full steam to develop their projects,” Mr Grigor said.

“The biggest winners on our table and in the stockmarket are those lowgrade companies that we had been dismissive of two years ago. Since then the uranium price has quadrupled, catapulting these companies into enviable positions.”

He estimates that if all 19 Australian potential uranium producers were to reach production it would increase uranium supply by 17,000 tonnes a year, or up to 30 per cent over the next five years. If combined with increasing global supply, this could drag the uranium price back below $US100/lb.

“This means that the highly leveraged, low-grade companies will need to be up and running as early as possible to maximise the peak of the uranium price cycle, sometime between today and three years time,” he said.

One of the hurdles will be the high capital costs of up to $300 million to develop many of the low-grade projects.

The report suggests that this could be a significant issue for Acclaim, Bannerman, Deep Yellow, Toro and Uranex, while better-placed companies include Contact, Energy Metals, Monaro and Uranium King.

Mr Grigor warned many of the floats now hitting the market were opportunistic plays and that it would be difficult for even potential producers to negotiate their way through regulatory and compliance issues in the three-year time frame. “The ones in the USA are probably the most likely to go ahead because of the greater reliability of the data and the historical information ... but those mines are unlikely to big ones,” he said.

Mr Grigor said he was constantly being asked if the uranium sector was “another dotcom boom” and the unreserved answer was no because it was possible to run fundamental analysis.

“You can estimate rates of production, you have a market price for the product and you can reasonably estimate capital and operating costs,” he said. “This is a bull market based on hard factual economics, not fantasies and what-ifs. The conclusion is that at these uranium prices there are enormous cash flows that can be made.”

Mr Grigor said there were still a number of unknowns in trying to determine the numbers for some companies.

The main assumptions used in the absence of official numbers included capital expenditure per tonne of capacity of $85 and a spot price of $US113/lb.

[BAPP]

Hi etrader,

From what I have read it seems that most of the worlds cobalt supply is currently sourced from Nickel mining operations. Up to now the cobalt has been seen as a 'bit of bonus for these Nickel producers. However as you point out with GME Resources, cobalt is now proving to be a major consideration due to the increase in price and increased global demand.

I have no idea whether the reverse applies with regards to the Thackaringa project possibly being a viable source of nickel along with cobalt. It would be great to think so and I would suggest that there's every possibility given the resource history of the Broken Hill area.(I'm sure Geoff Hill and Peter Atkinson will be ensuring they analyse drilling samples carefully and cover all possibilities.)

As you know I’m looking forward to some progress being made at Thackaringa so it would be great to see a feasibility study similar to GME’s to support an IPO later in the year or early 2008. (That would be a nice lead up to the 'U' test drilling at Dunmarra Basin.)

We do know that we should be getting some news with regards to drilling progress at Karangahake within the next week or so.

More positive news could be expected leading up the the warrant conversion date which is now only 6 weeks away and I’m sure management will be very conscious of the timing.

IMO the success of this could be a major factor in the future of HGD as they expand their exploration targets as noted above.

Cheers
BP :)

[BAPP]

Hi etrader,

This link my be of interest with regards to your last post:
http://www.thecdi.com/cdi/images/documents/facts/Cobalt_Facts-Supply_and_Demand.pdf

It seems that most nickel producing mines produce cobalt.

Lets hope HGD get their drilling program at Thackaringa underway quickly so they can take advantage of the high metal prices.

Cheers
BP:)

[Jess9]

Bit of interest on the ASX today, and when ASX was in a down mode too. Wonder if the recent lack of interest is drawing to a close, and maybe more action is in the wind.

[Woody51]

Hi all, this is my first post here. Thanks to BAP in particular for providing such excellent recent background on Heritage. I'm a Kiwi who has been settled in Australia for years.

I have kept an occasional eye on Heritage, but it seemed to me that it was a company that had lost it's way. - and at a time of unprecedented interest in exploration stocks. I'm one of those 'Aussies' that entered the stock following the appointment of Warwick Grigor.

I am not sure enough Kiwi's realise what a coup it is getting Warwick on board. His oft stated philosophy is "the shareholder comes first" and I urge people who haven't done so to visit the website of his 'baby' Monaro Mining where he discusses his approach. I do not know him, but know people who do and they say he is a man of principle. That augers well for Heritage.

I understand that Warwick assited Heritage's IPO way back and perhaps there is some retained loyality. Whatever, it is impossible not to believe there is a plan afoot for Heritage that probably extends beyond the new uranium leases.

Heritage needs energising and Warwick and Geoffrey Hill have the experience, contacts and skills to do this. Hill's CV is awesome and in the last few years Warwick Grigor has made a lot of people very rich.

I haven't got a clue what's planned. However, a little research on Google points to some interesting synergies.

Geoff Hill and a former Otago Uni boy, Ray Soper both sit on the Board of Huntley Investments in Sydney. Ray is involved in a senior level with Platsearch. Platsearch, of course, has ground adjacent Heritage's cobalt play near Broken Hill. Platsearch is a very busy explorer which farms out and threatens one day - with its JV partners - to find an elephant. I think back in 2005 Platsearch was going to JV with Broken Hill Cobalt at Hollis Tank, but it fell over when BHC couldn't get an IPO up.

Ray Soper is also involved with Paradigm, which has just had a big jump in its share price and is a bit of a current darling of the Aussie chat rooms.

Equally interesting is that Wolfgang Leyh did the geological scope on Heritage's new uranium tenements. Wolfgang is listed on Platsearch's executive list and I think he was going to be a 20% JV party to the failed Hollis Tank arrangement.

All very interesting. You'd have to think Thakaringa is where the immediate action's going to be, and where their is big buck to be made. But how this all comes together is anyone's guess.

Rest assured, however, the cob webs are going to be well and truly dusted off Heritage, Warwick Grigor hasn't teamed up with Geoff Hill because he likes the occassional coffee in Parnell.

I'm holding heads and oppies and at 7.2 cents and given Heritage's modest market capitalisation, they have got to be a great punt. And Heritage hasn't yet made it onto the radars of the traders and others who frequent Hotcopper, Sharescene and the other Aussie chat sites.

For me also, it's sort of heart warming again holding a Kiwi stock.

[Jess9]

Good post Woody51!

You raise some very interesting, an new threads, to this story.

HGD is a wonderful asset play, especially with the resource boom on, and now multi-bagger price increases are more assured, as you allude to above, the missing ingredient (drive and ability to realise Peter A's vision)has been secured by the recent board level changes. This was key, as it introduces a significant change/break from past ...constraints.

The next year or two should make the patient holder very well off.

PS bought a few more on recent weakness, and happy to wait for the returns.

[COLIN]

quote:Originally posted by Jess9

Hi Croesus, I got the following from Sue Sangster...

-----------------------------------------------------------------
Warrant conversion price is 6.3c to convert each warrant to a FPS.

Please send your payment and a letter requesting conversion and including shareholder details to:


Link Market Services

138 Tancred Street

Ashburton
--------------------------------------------------------------------
Sue says she will instruct Link to batch all requests and process on the Friday of each week from now on, conversion seems relatively easy and quick - assuming current FPS up trend continues!

J9


Might as well stick it out with this spec investment, now, and convert my warrants. Presumably one still follows the above drill, to do that?

[etrader]

I think as the regular HGD posters will acknowledge, HGD does have as previously outlined some great assets underlying, the question is how long will they be explorers of their assets, and at what stage does the right JV party come along to take there exploration to mining, that's the $80 million dollar question, we've done the JORC figures and it does not take a rocket scientist to value their minerals. With Cobalt/Gold/Uranium at high levels based over historical figures, one know's why they've invested, like BAP myself and Jess and others, I think we have considerable sums riding on this investment, I did as others have, study into the above and relise once the general market sees change from board level right down to p/l's, the market will correct up to meet this value.

My general consensis to stimulate the company would be.

*Appoint a stong GM. "trying to currently find"
*Increase in Waihi JORC to a viable mining level.
*JV with Newmount or similar on Waihi for a considerable sum.
*Change the companies trading name to reflect their current business model.
*Regular updates on the 3 divisions.
*Stong public info relating to a potential IPO of Cobalt in oz.
*Picking up more tenaments and getting current licence to explore converted into actual tenaments approved "this process is happening.


With the above key factors I feel like other investors that we could get HGD out of the penny dreadful level and start becoming the next Baby SMM.

Info on WG company

http://www.fareastcapital.com.au/default.asp

[Jess9]

Hi Colin. Just looking at a recent statement...note Link's address is Level 12, 120 Albert Street, PO Box 91976, AUCKLAND 1030.

Two offices? Or have they moved since Sue stated the Ashburton Address?

I'll email Link and confirm whcih address is right/or most appropriate etc.


quote:Originally posted by COLIN


quote:Originally posted by Jess9

Hi Croesus, I got the following from Sue Sangster...

-----------------------------------------------------------------
Warrant conversion price is 6.3c to convert each warrant to a FPS.

Please send your payment and a letter requesting conversion and including shareholder details to:


Link Market Services

138 Tancred Street

Ashburton
--------------------------------------------------------------------
Sue says she will instruct Link to batch all requests and process on the Friday of each week from now on, conversion seems relatively easy and quick - assuming current FPS up trend continues!

J9


Might as well stick it out with this spec investment, now, and convert my warrants. Presumably one still follows the above drill, to do that?

[BAPP]

Hi Woody51,

Great stuff!

Totally agree with your comment ..."Rest assured, however, the cob webs are going to be well and truly dusted off Heritage, Warwick Grigor hasn't teamed up with Geoff Hill because he likes the occasional coffee in Parnell".

These guys have the background, experience and network to realise the underlying potential of HGD and all it's assets.

Iam sure they will be formulating a plan to increase the momentum of all their projects areas over the remainder of 2007 and ensuring that shareholder wealth is increased.(one thing is for certain.. it's in their interest to do so!)

IMO the next step must be to encourage investor/shareholders to convert their warrants and then to get drill sampling underway at Thackaringa.

If the drilling at Karangahake provides further positive results I suspect we may even see some interest by way a potential buyout of this resource by an off shore party.

Cheers
BP:)

[BAPP]

Hi etrader,

The points you make are all very valid for shareholders and I suspect they may well be on the agenda for the next board meeting.

from your post:
__________________________________________________ _

*Appoint a stong GM. "trying to currently find"
*Increase in Waihi JORC to a viable mining level.
*JV with Newmount or similar on Waihi for a considerable sum.
*Change the companies trading name to reflect their current business model.
*Regular updates on the 3 divisions.
*Stong public info relating to a potential IPO of Cobalt in oz.
*Picking up more tenaments and getting current licence to explore converted into actual
tenaments approved "this process is happening.
__________________________________________________ __

I talked with Peter through the week and his feedback gave me some confidence that most of these points/issues are being currently addressed by management.

Again he was careful about not giving any market sensitive information away!(bugger) but he did infer that the company was closer to finding his replacement and that the process was currently being handled by an HR company.

He seemed enthusiastic about the drilling progress at Karangahake and he indicated the Directors were very aware that the warrant conversion date is less than 6 weeks away.

I also got the impression that Thackaringa was now becoming more of a priority with the current cobalt prices.

IMO, while this is no doubt a 'waiting game' ( and some shareholders have been waiting a long time!) I for one believe that HGD has the potential to become the next SMM over the next year or two. The management team has been 'fine tuned' with Mr Hill and Mr Grigor on board and they will be a lot more active than we have seen previously.

As you rightly comment some of us(me included) have a lot a stake, but anyone investing in a speculative share like HGD must be prepared for ups & downs in share price, potential loses, but when it all goes well there is some huge gains to be made.

Just look at the share price increases of the likes of SMM, GME and CDU (to name a few explorers) over the past year or so.

Fingers crossed that HGD is about to do the same!

Cheers
BP :)

[Woody51]

Etrader, in his Uranium Sector Analysis on 21 March 2007, Warwick Grigor made mention of Heritage and its new uranium tenements, I suspect in print for the first time.

He briefly noted noted the company had diversified and in a table described the location (NT) as "ideal". He rated the quality "good" and the value "good".

This bloke tells it as he sees it and has a big 'slow' on the lot of uranium hopefuls. So a good start in my book and would serve as a radar alert for his followers.

BAP, thanks for the update from your discussion with Peter. The informed and constructive posts on this forum make it very clear to management that HTM shareholders (and especially long-termer's such as yourself) have high expectations of them. I am sure they are aware of this.

I was sort of hoping the Sydney connection might source a gun MD. With the exploration boom, of course, good experienced people are hard to find, a point that is often raised over here. Maybe one can be lured by selling the NZ "lifestyle"?

Finally, on the matter of gold, as you know there are a host of Australian explorers drilling flat tack, both at home and in places exotic. One that's extremely interesting and really shaping up IMO, is PRU. Boy, are they busy.

Cheers.

[etrader]

What's to stop Mr Hill taking on the MD role.

His experience and direct holding via a 65% share in Broken hill could bring a wealth of experience to the board. Hmm Just a thought.

Have invested for medium term in this stock, i've found you can't look at daily or even weekly paper gains/losses with to much interest. But buy in on your own research, even though the market might not recognize the full value to date, I would like to feel that posters here were at the beginning of the race north when we're looking at .005c gains/losses, where the general public come in well latter once the media start getting to grip with what a company is doing, followed by spectacular gains for people that were there from the inception.

[Woody51]

Etrader, if/when Warwick Grigor drops the HTM story into one of his his Far East Capital client bulletins, it will run alright. And Geoff Hill is connected big time. HTM just have to get a package together that's credible to the market, which I am sure they will in time.

Further to my first post, I noted Ray Soper and his roles with Paradigm and Platsearch and his connection with Geoff Hill. Warwick Grigor's firm underwrote the recent Paradigm rights issue. Maybe I am off the mark, but I figure Heritage won't be wanting for friends should it ever require them.

Just some cold Sunday ramblings.

[Jess9]

Woody 51 wrote "if/when Warwick Grigor drops the HTM story into one of his his Far East Capital client bulletins" hmmme...wonder if this will feature leading up to 27 June, to ensure full uptake. Just need a good final essay or two from Karangahake, and/or early drill results on Broken Hill, or even U license to be granted, to provide the appropriate fat to chew ; )

[BAPP]

Hi etrader,

I would suggest that the MD's role would be too 'hands on' for Mr Hill to be able to dedicate his time to the role.

I would hope that they are looking on both sides of the Tasman or even further afield to find a replacement for Peter and the Directors need to be generous with their remuneration package, especially with regards to performance based bonuses.

I suspect Mr Hill and Mr Grigor will play a major part in the final decision and have probably nominated some likely candidates for the position already.

I think Jess is right...we now need some news to indicate good progress results at Karangahake followed up by test results at Broken Hill to entice warrant conversion and create further momentum.

We all seem to agree that we have to be in for the medium to long term on this one if we want to make serious money, so my advice to any other shareholders reading this thread is, don’t get caught up in the day to day fluctuations at the moment. Accumulate on the dips and be patient over the next few months! HGD’s time is coming and it should be worth the wait.

However I'm no expert and I always recommend you do your own research. The internet and google especially, is a wonderful tool for today's investors.

Cheers
BP:)

[etrader]

Probably an old link to many investors but this provides a good overview from WG.

http://www.fareastcapital.com.au/imagesDB/research/FECUraniumRelease20March07b(1).pdf

This pdf has HGD featured on pages 1/3/7/20 showing a grass roots explorer.

I wonder if there is another report to be uploaded again soon on their site.

[Jess9]

This one of you guys (Indoman)? Cut follows from his post on Sharescene.com...seems like a well informed chap : )

Anyway HTM in top ten picks over there now!

---------------------------------------
Just posted this on the "next stock under 10 cents to go places" thread. Thought I might as well drop my two bobs worth in here. I hold.

Heritage Gold (HTM). Warwick Grigor's just become an independent director. New uranium properties in the NT, cobalt near Broken Hill and Jorc resource gold in New Zealand. Heaps of upside in this one with new Chairman Geoffrey Hill and Mr Grigor to provide expertise and direction. Heads 7.2 cents and options around 3.5 cents. And low market cap.
------------------------------------------

[BAPP]

Following is a link to the Far East Capital review of Uranium sector with comments regarding Heritage(HTM) on pages 7/20/21:
www.uraniumanalyst.com/images/UraniumReview24March07.pdf

I recommend you read the entire newsletter as it gives a good overview of many other stocks and the uranium sector outlook.

Cheers
BP:)

PS: I think this maybe the review that woody51 noted in an earlier post

[BAPP]

Interesting article on the gold front from the Australian News.

The basis of the article indicates that Gold Fields chief executive Ian Cockerill told delegates at the Paydirt gold conference in Perth today that the gold price was trending upwards, noting the supply-demand equation would underpin future growth and he believed we are firmly entrenched in a a bull market for gold.

The remainder of the article can be read at: http://www.theaustralian.news.com.au/story/0,20867,21768077-643,00.html

A positive outlook for those company's with confirmed gold resource, including HGD.

Cheers
BP:)

[Woody51]

Thinking that it would be nice to get some positive news soonish to negate any tax loss selling - as well as to get warrants up. Bargain time coming up for those with cash looking for neglected stocks that still have a big future.

[BAPP]

Hi Woody51,

The last few days have been tough if your a shareholder watching the share price slip away. However as I said earlier you have to forget about the short term fluctuations. Pay back for the patient shareholders won't be far away IMO and I also suspect there maybe a 'nice' surprise enticement to ensure holders convert their warrants in June.

I'm still confident there will be at least some positive news and a good 'spike' in the share price within the next few weeks.(fingers crossed anyway!)

Cheers
BP:)

[Woody51]

BAP, your optimism is infectious. Happy to sit and wait, have a couple of others to keep me occupied in the meantime.

[Jess9]

Agree, whats another 12 months if by then HGD has doubled, tripled, quadrupled or more, as known resources are proved up and the big U drilling starts!

[ScrappyO]

I got in at .06 and have been tempted a few times to buy more. But i will wait for more news.
The problem i see is if it wasn't for the mention of the U, i still think the price would still be at .04-.05 But as we know this did put HGD on the map and looking at the other prospects of HGD it is quite exciting.
I'm in for the long haul.

[BAPP]

Hi Jess9/Woody51,

If you have a 'gut feeling' that the share price of a company could jump from 8 cents to over a $1.50 in 12-18 months then waiting is easy.

I've used my previous gains from one or two shares to buy another and so on and in each case I've waited a similar length of time and in each case it's been worth it. (SMM for example)

IMO buy in the 'dips' if you can, because Mr Grigor & Mr Hill are directing HGD for a reason!

Cheers
BP:)

PS: Have a look at some of the names of the holders who have warrant and options!

[Woody51]

BAP and team (guess we are a team cos we are on our lonesome on here and in Aust), I am not a trader and quite happy to sit and hold these long term, as long as the company performs to the best of its ability. Often read the trader versus holder debate. Amazing how many traders write that they'd wished (after doing all the research) they'd just gone to the wine bar every day and waited rather than traded. (A wine bar in Parnell, no doubt). Lived in Parnell for a year in the late 70s when I was younger and slightly less frisky. Had a good time ... then went to Wellington, and it was all down hill. Not like the 'new' Wellington then, believe me.

[croesus]

Bap agree with you and Jess and others..... have been steadily accumulating... for the long haul.

[BAPP]

Hi all,

Just so everyone knows that I'm putting my money where my mouth is, I have also increased my holding in the last month, however mainly with warrants and options.

I'm in a good position with an average price of 5c, however I have had plenty of opportunity to sell a few 100K a take some profits, but I'm still holding due to my long term confidence in the company. (Why sell @ 10 cents if a $1.50 is the target?)

Just to add a slice of intrigue, would any of you guy's/girls have any thoughts on a take-over scenario in the next 6 months?

Food for thought!

Cheers
BP:):):)

[etrader]

T/O

Yes have floated the idea on here before, we have a couple of good sized shareholders at the top that can block a takeover, so that would help put a premium in the stock for T/O. A Major company only has to discover for example the Waihi value and look at the overall co at $20ish mill work out selling the uranium and cobalt and work out their carve up cost. Delist and restructure the assets into their "presume" existing minining op and they will get the synergies they require to warrant a T/O. Luckly i don't see that on the horizon so we should over the next year see a drive north in the S/P
so current holders make a significant gain first before any T/O premium is added in.

But yes one scenerio BAP for sure.

I still like their 3 pronged approach and i'm sticking with that.

[Woody51]

I think a friendly script-based merger would be more the go ...

[croesus]

MY view is buying now is worth a punt, Messrs Grigor and Hill will have positive news before the Warrants run out of time.......will buy more today if the price suits.

[jonny5]

You after more warrants?

J5

[croesus]

Yes.

[tobo]

Re: T/O ideas -
Value to me includes the potential resource combined with what Messers Hill & Grigor will do. That's quite a high value, compared with how a T/O offer might be calculated. So I hope there is not a T/O that "takes me out".
Other arrangements could be good, as long as I get to stay in for the ride.

[tobo]

etrader,
I too like the "3 pronged approach".
It seems that people tend to just value one of them and ignore the other two as a free bonus.
Eg. the Uranium folks value the whole company in relation to other Grass roots U explorers (emphasis on location and management). Or when looking at Gold we consider relevant issues like economic mine size.
Of course people try to take into account all the prongs, but usually there is a focus or expertise on one of them. An example of the irrational market.
I mean, does anyone bother actually assigning a "cents per share" value to the two northland permits?

[etrader]

It would be good at the next annual meeting to break down the companies more on a unit value. I've requested this to the company before the extra ordinary meeting but everything was set in concrete for the meeting.

I still believe to date investors on both sides of the Tasman are sitting and watching, very light volume going through with a gradual slipage in the stock price with occational rises on small volume. Noted today on the nzx the buy volume is getting larger but no driven demand to raise the stock price, this coming from the fact we have no definitive direction from the board yet to hgd future direction.

[Woody51]

People, is there any reason Heritage wouldn't go it alone at Waihi? Lot of talk here about JV's and takeovers etc. Notice in a recent report Warwick Grigor described the gold project near Waihi as strongly prospective.

I just don't have a good handle on the gold side. Seems to me Heritage, comparatively, don't do a lot of drilling nor very quickly. I may be quite wrong on this.

Also, while noting it's very much grassroots, Warwick Grigor remains very positive about the speculative potential of the NT uranium play.

Haven't yet been able to find any mention by him of the cobalt project. Hoping the company will surprise us!

I have cashed up in the last few days, taken profits from a few specs I have been holding for quite a while, and sold out of a couple of stocks that have just been hanging - and with no news on the horizon.

I feel a negative market vibe, and the few stocks I sold would not fare particularly well in a correction - should one come. Neither would Heritage of course, but have decided that would be a big buying opportunity.

Anyway, I am now in a position to add to my Heritage stake at the right moment. I am increasingly confident of its potential and at these prices I can accumulate some biggish numbers (for me) relativly cheaply.

Lets face it, if Range Resources can deliver for its tormented shareholders, by comparison, Heritage's task should be a breeze.

[etrader]

Woody from the way i see it Hgd have been prospecting for 20 yrs' plus at Waihi in this time they've accumulated JORC resources of 205000 oz og gold and 800,000 oz of silver, this been about 40% of the way to making a viable gold op to recover, the reason the talk of a JV is from what i see simply the amount of capital required to mine, going with an exisiting mine company who is located near hgd resources it will give economies of scale. HGD would have to do a massive option/capital raising or issue of new shares to a new investors, from memory i think there was talk of $300 mill i might be miles off the mark, but that could be the cost to set up a mine and recover that over a long period.

I think when we saw the stock appreciate in price by 100% this was simply on the signing of a 10k due dill period, they've since settled issuing stock to both far eastern been WG and stock to the holder of the tenemant, HGD have chosen right going into N.T where it uranium friendly compaired to qld, i have not heard any issues or info about native land access to their tenaments so i presume that was sorted prior to entering into agreement. Remember it's still a fairly small area been 1200 sq km, compaired to other stocks i hold of around 50k sq km, so i guess the advantage is they can hone in on a localised area and if it's highly prospective they should prove good results from that.

[johnofthex]

Woody I think the "bad vibs" you are talking about hinge from the expectation of the Chinese Bubble about to burst. But on the other hand it isn't sneaking up on us as it did back in Feb when there was a 9% correction and that must be a plus. The US is frantically trying to dampen down the issue before it starts and so are the Chinese now by the looks:
http://eng.zgjrw.com/News/2007521/English/819180225400.html

[Woody51]

Thanks for that etrader. Grigor was the leading gold analysist for years over here, in fact Australia's first specialist gold analysist. I'm sure he and Hill will sort something. Happy with the "strongly prospective" observation, all the same.

Notice Kentor Gold has joined Heritage's uranium chase in the Dunmarra Basin, NT. Let's hope the geologist's have got it right, if they have, whoosh. I don't think it will be too long before we know. See Grigor holds shares in Kentor, who have been involved in gold exploration in the Kyrgyz Republic. That's where Grigor's Monaro Mining has very promising uranium tenements. It's an interesting place. A real sleeper there is NMR, it's very tightly held and tiny market cap.

John, I have never picked corrections, got more chance of getting today's Melbourne Quaddie. I'm still 90% in the market, just happy to free up some cash. Think we are in somewhat uncharted territory however, but I think we'll see continued strength in resources, and particularly uranium. Uranium is not dot.com, that's for sure. Just my instinctual view. Thanks for the feedback.

[BAPP]

Todays announcement:

Cheers
BP

HGD
29/05/2007
S/HOLDER

REL: 1625 HRS Heritage Gold NZ Limited

S/HOLDER: HGD: Letter to Warrant Holders

Heritage Gold has mailed the attached letter to Warrant Holders today
regarding warrant expiry

28 May 2007

Dear Warrant Holder

You are the currently registered as the holder of Heritage Gold NZ Limited
(HGD) warrants, issued in accordance with the terms of the offer
documentation dated 15 May 2002 (the Offer Documents).

You may be aware from recent announcements by HGD through NZSX, ASX and NSX
that the final date for the conversion of warrants into HGD ordinary shares
is Wednesday 27 June 2007 (the Expiry Date).

The purpose of this letter is to remind you that your outstanding warrants
may be paid for in full on or before 5pm (local time, New Zealand) on the
Expiry Date, by payment of NZ6.3 cents per warrant.

This is an exciting time for Heritage Gold which has recently announced a
number of updates to shareholders, including its decision to proceed with an
investment in a uranium prospect in the Dunmarra Basin in the Northern
Territory, Australia. This new exploration, coupled with our investments in a
cobalt project near Broken Hill in New South Wales and gold projects near
Waihi, New Zealand are part of the Company's strategy to diversify its
exploration holdings in Australasia.

Funds received from the conversion of warrants will be applied to these
projects and for working capital.

Heritage shares prices over the last three months on the New Zealand market
ranged between NZ3.6 and 10.9 cents. On the Australian market they ranged
from A3.2 to 9.3 cents. As at 25 May 2007 the shares were priced at NZ8 cents
and A6.8 cents.

The Board recommends that you convert your warrants into shares to ensure
your entitlement does not lapse, and thanks you for your support.

Payment can be made by cheque and sent to Heritage Gold's share registrar,
Link Market Services Limited, PO Box 284, Ashburton, New Zealand. New Zealand
cheques are to be made payable to "Heritage Gold NZ Limited Warrant Offer"
and crossed "Not
Transferable".

Australian residents wishing to pay in Australian dollars are requested to
contact Heritage Gold's Company Secretary (see contact details below) for
confirmation of the exchange rate (Westpac bank TT rate) applicable on the
day. Australian cheques should be made payable to "Heritage Gold NZ Limited
Warrant
Offer" and mailed to Williams & Hughes, 1st Floor, 25 Richardson Street, West
Perth, WA 6005.

Enquiries regarding the calculation of the amount due to convert warrants
into fully paid shares should be made to the Company Secretary, Heritage Gold
NZ Ltd, see contact details below.

In the event that you do not pay the final amount to convert a warrant held
by you by 5pm (local time, New Zealand) on the Expiry Date, that warrant will
lapse immediately after 5pm on the Expiry Date. In that event, you will not
be entitled to a refund of any sums paid to HGD in respect of any instalments
of the price for that warrant.

Upon conversion of a warrant, the resultant HGD ordinary share will rank
equally in all respects with the existing ordinary shares of HGD.

To facilitate conversion of any or all of your warrants, HGD has prepared and
enclosed a pro forma Warrant Conversion Form, which may completed by you and
returned to Link Market Services Limited (for New Zealand residents) or
Williams & Hughes (Australian
residents), together with your cheque in payment of the relevant conversion
amount in the appropriate currency (for payments in Australian dollars please
contact Heritage Gold's Company Secretary, details below).

The company is considering the possibility of securing underwriting, or
equivalent arrangements, in relation to final conversion or lapse of the
warrants and will advise
progress in due course.

Yours faithfu

[corran]

quote:Originally posted by BAP





REL: 1625 HRS Heritage Gold NZ Limited

S/HOLDER: HGD: Letter to Warrant Holders


thanks for posting this announcement BAP... I've been lurking on this thread for a while and thought it was time to start posting :)

Although I was encouraged by the change in management and the diversification into uranium, I've been disapointed by the lack of announcements by HGD recently. I've been waiting for an update on the new MD, possible gold resource upgrade, some news on the plans for Broken Hill Cobalt, and more announcements on the Uranium plans. So far nothing.

I've held a few HGD shares for a while - sold off some a month or two back and am considering selling more as the price continues to drift down. So far I've held off as I am confident that Messers Grigor & Hill have something up their sleeve they are going to announce before the warrants expire.

But I'm becomming a bit disillusioned with HGD. The company 'seems' to me to have a lot of potential, especially with the diversification into cobalt and uranium. But, especially where gold and cobalt are concerned, it's disapointing the company hasn't been able to convert this potential into actual JORC resources (other than the 205 gold and 800 silver).

Although having said that I'm a novice investor when it comes to valuing junior explorers so am still learning a lot (including learning a lot from this forum) and trying to ascertain a current and potential future market value for HGD is an ongoing exercise for me (and one which I'm enjoying).

Hopefully the next few weeks will see some fruitful announcements being made and our patience rewarded.


Cheers,

Corran

[BAPP]

Hi Corran,

Good one for adding your 'voice' to this thread.

I think the important part of the letter to warrant holders is the last paragraph.

'The company is considering the possibility of securing underwriting, or
equivalent arrangements, in relation to final conversion or lapse of the
warrants and will advise progress in due course.'

IMO, news & activity will increase leading up to the warrant expiry date. (but there's never any certainty of these things!)

Hopefully patience will pay off!

Cheers
BP:)

[Jess9]

Good spotting BAP.

[BAPP]

HGD
30/05/2007
MINE

REL: 1550 HRS Heritage Gold NZ Limited

MINE: HGD: Heritage Gold Reports Further Drilling Results

Heritage Gold is pleased to announce the latest results from its Waihi
drilling programme in the Coromandel.

Heritage Gold managing director Peter Atkinson says the results from holes 5
and 6 demonstrate gold is consistently present in the hydrothermal breccias
that Heritage is drilling. Furthermore, the results to date indicate that
gold mineralisation extends over a total strike length of approximately 1300
metres.

Mr Atkinson noted that the results from the latest holes confirm the
company's geological model of the mineralised system, identified from surface
exploration and earlier shallow drilling. The gold grades present in holes 5
and 6 indicate that gold is dispersed in the upper parts of an extensive
epithermal system. These results increase the level of confidence the company
would have when targeting the next series of holes.

Mr Atkinson says the next step is to look for feeder vein zones that may
contain higher gold grades. "Hole 5 located several wide zones of strong gold
mineralisation in quartz veins and breccias, while Hole 6 intersected further
gold mineralisation in hydrothermal breccia. Each of these zones may grade
into higher grade feeder veins at depth."

"By drilling below the previous holes we are able to establish the geological
structure with much greater confidence. Later holes can be drilled more
accurately in order for a resource to be identified." Mr Atkinson says higher
grade feeder veins are expected to occur below the hydrothermal breccias.

Heritage Gold plans to drill several more holes and the findings will be
released as they become available.

A full report of the drill results is attached to this announcement.

For further information please contact:

Peter Atkinson
Managing Director
Heritage Gold
+64 9 303 1893
+64 21 630 463

[BAPP]

As I said:

There's never any guarantees, lets hope there's something more too come over the next few weeks! Patience is a virtue-apparently!

Interesting to note a little extra emphasis on Broken Hill with regards to ASX announcements.

Cheers
BP:):)

[Woody51]

I wonder if they could have made this announcement any more drab. Did the drilling meet expectations etc? Who knows. I listened to Peter Atkinson on Board Room Radio the other day, hardly a sell job either. Would be nice to see a little bit of enthusiasm exhibited.

[Jess9]

To me this is good news, look at the range over which mineralisation occurs, and at this stage forget the low grade hole results.

This drill round's objective was to locate the most likely sites for hitting rich feeder veins (which have to be there based on the confirmed wide and deep ranging mineralisation - only guessed and inferred previously).

All lights are therefore go for the next drill round which will have a main objective of locating commercial quantities of gold to substantially increase gold resouce levels. If the preliminary results had been poor, this next stage would not have been announced.

Any hovering JV partner must be thinking very hard right now. The longer they wait the more they will likely pay as HGD gains further momentum - on more than one level, perhaps even snares others interest. Exciting times shortly ahead!

[BAPP]

Hi Jess9,

All good points and I tend to agree with your overview, however I would also suggest that the management should be providing positive 'vibes' to the market leading up to such an important time for the company.

Through poor PR, they have now just increased the number of sceptics and many investors will be losing patience with management. (which is not what we need to boost the share price.)

Many investors are watching the new directors(Mr Hill & Grigor) to see what difference they can make to HGD and I don't think they will be given a lot of time by the market to show the underlying potential of the existing assets.

Lets hope there is more(some) really positive news to come over the next few weeks!

Lets watch and read carefully!

Cheers
BP :)

[Woody51]

Thanks Jess for that. Pity Peter couldn't have made similar points. BAP is right, this is a very competitive market for investor $. I am not suggesting for a moment that things should be 'beaten up', just put in some perspective - even if it means reiterating the strategy. Got to say again, this was very much a 'going through the motions' report and that's a great pity. Problem is, I fear it would even have occured to them as such.

Read the latest PRU announcements if you want an example of a gold company that knows how to satisfy an investor's curiosity.

BAP, Grigor is overseas I read, doing road shows to promote Monaro.

Maybe one can be in too much of a hurry. As they say, good things come to those that wait - and I am prepared to do that, given the upside.

[Jess9]

A quote from this drill programmes objective:

"The present programme will indicate whether a further gold resource is likely to be defined at Rahu Ridge by this and subsequent drilling programmes"

With the conclusion of this programme, the announcement states:

"Mr Atkinson says higher grade feeder veins are expected to occur below the hydrothermal breccias.Heritage Gold plans to drill several more holes and the findings will be released as they become available."

Therefore it is implied that rich veins are there, and are being targeted presently for the next drill programme which is intended to locate high gold grades for a significant resource upgrade to allow future mining.

I conclude we may bag an elephant yet $$ ; )

[ScrappyO]

HGD
31/05/2007
FLLYR

REL: 0846 HRS Heritage Gold NZ Limited

FLLYR: HGD: Full Year Results

Issuer Name: Heritage Gold New Zealand Ltd
Reporting Period: One year to 31 March 2007
Previous Reporting Period: One year to 31 March 2006

Results for Announcement to the Market: Amount ($) Percentage Change

Revenue from ordinary activities $35,140 - 86%
Profit/(loss) from ordinary activities after tax attributable to members of
the listed issuer ($807,230) - 69%
Net profit/(loss) attributable to members of the listed issuer ($807,230) -
69%

News Release

Listed exploration company Heritage Gold recorded a $807,000 loss for the
year to 31 March 2007, compared with a $2.6 million loss in the previous
corresponding period.

The change from last year can be attributed to the write-off of approximately
$2.4 million from the Onemana
project in 2006.

Heritage Gold managing director Peter Atkinson says: "Exploration expenditure
for the current year is strong and reflects the expansion of our mineral
interests."

Shareholder investment during the year was $1.8 million compared to $1.1
million in the previous financial year.

The purpose of the funding was for advancing exploration of Heritage Gold's
current projects, investigation of the uranium proposal, and for working
capital.

This year's expenditure included an exploration write-off of an additional
$200,418 for the Onemana project and exploration expenditure of $750,818 was
capitalised.

Mr Atkinson says Heritage Gold's income is predominantly derived from
interest earned on investments. "Income results for the period are consistent
with the previous period, after an adjustment for a one-off revenue item in
the previous year."

Earnings/(loss) per share for the year to 31 March 2007 improved from
(0.0224) to (0.0051) cents per share.

During the year Heritage expanded both its mineral targets and areas of
interest. "Exploration work undertaken this year focused on the company's
gold and cobalt projects," Mr Atkinson says. "In addition, the company has
recently entered into an agreement to earn 50% equity in a Northern Territory
uranium prospect."

Mr Atkinson says the current level of exploration activity is expected to
continue into the 2008 financial year.

Karangahake Project (100%)

Heritage's three exploration permits lie about 15 kilometres (km) west of
Waihi within a prominent hydrothermal alteration system covering 16 square
km. Mineralised veins, which have been mined at Talisman in the southern part
of the area, have been traced along strike for 4km, based on surface outcrop,
strong soil and rock geochemical anomalies, and geophysical signatures.
Drilling commenced in early 2007.

At the Talisman mine a JORC compliant resource of 205,000 ounces (oz) gold
and 800,000oz silver has been
estimated. The mine has recorded production of 1Moz of gold and 3Moz of
silver.

Other Gold Projects (100%)

Heritage has two other major gold projects in the district, within a 10 km
radius of Newmont's Waihi treatment
plant.

Waihi North extends from the boundary of the Martha open pit mine and north
for 10 km to the southern boundary of the Golden Cross mine. The permit
covers the northern part of the Waihi hydrothermal alteration system that
hosts the Martha gold deposit and the Favona deposit.

In the Waihi North permit, several alteration systems have been identified by
exploration using mapping, geophysics, and geochemical techniques.

At Golden Valley, along the eastern boundary of Newmont's Martha and Favona
mines near the Waihi treatment plant, Heritage has a 50 square kilometre area
that contains major structures and geophysical anomalies, similar to those
associated with the Martha and Favona gold deposits. Work on the Golden
Valley
permit has given encouraging results and further surveys are scheduled, along
with drilling in 2007.

Drilling commenced on the Rahu project in the last quarter and is continuing

[whatsup]

Dissappointing no trades today, whatsup , I guess that we will have to wait til closer to the warrant date before any action happens!!!.

[BAPP]

I was interested to read last part of the following statement. __________________________________________________ _______________________

Thackaringa Cobalt Project, New South Wales (33%)

Heritage has an interest in cobalt through its 33% equity in Broken Hill
Cobalt Ltd, which holds the Thackaringa cobalt project.

Broken Hill Cobalt Ltd (BHCL) has completed several phases of metallurgical
test work to examine options for future processing of the mineralisation.
Market surveys have been undertaken for cobalt and by-product minerals in the
deposits, which have been test drilled to 100 metres below surface.

This year a drilling programme is being undertaken to test extensions of the
known mineralisation. In addition, the Company's consultant's have been
assessing metallurgical test work to determine which processing options
warrant further investigation to achieve potential economic viability of the
proposed project.

BHCL plans to explore in 2007 for additional cobalt resources to underpin
potential development.
__________________________________________________ _________________________

Maybe worth following up, especially given the history of the Broken Hill area!

Cheers
BP:)

[BAPP]

Wonder if management is taking notice of the market reaction at the moment (especially on ASX)?

Definite signs of disappointment to date and it would be a 'bugger' to see the share price slip back further.

Hope we will all be smiling by the end of June.

Cheers
BP:)

[Woody51]

BAP, seems to me they are not giving the market anything to react to. On face value, the communication effort this week was dreadful. Don't even seem to have a key message through the various announcements - pretty basic PR stuff.

Maybe they're just marking time until the ducks are lined up - and given all the changes etc, that would be fair enough. But the fact that you can have days where no shares at all are turned over in an exploration boom, says something.

My HTM's are in the bottom draw. Haven't added to them this week. Will do so only when they show signs of life on decent volume. Not sure how many shares are held in OZ, but they could be ripe for a tax loss sell down. I am sure management is aware of all this.

Still have a positive vibe about HTM though - and comfortable holding, even if they do a June dipper. The uranium action will be particularly interesting later in the year and HTM offers so much leverage to any success.

BAP I am encouraged by your quiet confidence and I am sure others are too. Thing do go around and one day there will be plenty of backslapping I am sure, when HTM brings home the bacon.

[corran]

Northland may have $33 billion mineral potential

main article in National Business Review online this morning.

Surely very encouraging news for HGD shareholders !!

Here's the first part of the article: "
A new study has found the Northland region may have untapped mineral resources worth billions of dollars.

The study says $33 billion worth of mineral deposits are potentially present in the region."

The URL is: http://www.nbr.co.nz/

[BAPP]

Thanks for that corran.

Agreed this should be encouraging for HGD shareholders, as long as management turns the potential into reality!

We need some forward thinking from management.

Cheers
BP:)