Heritage Gold...HGD

[Jess9]

Looking daily, especially after a period of stella performance as the expected pull back, in the lull that occurs as what was announced takes actual time to process/do etc, is a bit hard emotionally. But sit back from the share price now, and reflect where it could be taken when significant gold, cobolt and maybe now exciting new uranium resource is announced in the future.

Remeber HGD is in flux with board, and next senior management about to change and to my mind this new energy/focus is what was missing in the past, and required to value up this coys previously discounted assets and prosepcts!

This will occur, so don't let emotion rule, rather ensure decisions are rationally made, or you will have regrets.

Anyway, that my approach for what its worth.

[Jess9]

PS "lulls" can be great opportunities - when investments are confimed as "sure things" with hindsight!

[ScrappyO]

Talking about the minerals up north on 1ZB for anyone interested.

[etrader]

HERITAGE GOLD ENDORSES FINDINGS OF NEW BILLION DOLLAR
NORTHLAND MINING STUDY

Listed mining company Heritage Gold fully endorses Northland's new mineral
study which yesterday revealed the potential for $28 billion non-metallic and
$5.2 billion of metallic mineral deposits in the region.

Heritage Gold managing director Peter Atkinson says the study clearly
demonstrates the mineral potential of Northland. "Parts of the geological
environment in Northland are similar to the Waihi district where Heritage
Gold is currently exploring for gold."

"We are well aware of the potential in Northland for gold and base metals,
and the study released yesterday confirms this. The potential economic
benefits and employment opportunities that now present themselves to this
region are significant."

The study is the first of its type in New Zealand and could pave the way for
Councils in other regions to take similar valuation initiatives, Mr Atkinson
says.

(The study was conducted by Geological and Nuclear Science and the NZ
Institute of Economic Research, with the Foundation of Research Science and
Technology funding the assessment of Northland's mineral resources. It was
also supported by the Crown Minerals Group of the Ministry of Economic
Development and the Far North and Whangarei District Councils, with
Enterprise Northland facilitating the process.

Full copies of the study - the summary, the mineral assessment, the economic
impact assessment - are available at www.enterprisenorthland.co.nz)

[corran]

quote:Originally posted by etrader

HERITAGE GOLD ENDORSES FINDINGS OF NEW BILLION DOLLAR
NORTHLAND MINING STUDY

"Parts of the geological
environment in Northland are similar to the Waihi district where Heritage
Gold is currently exploring for gold."




Last time I looked Heritage already had a project up in Northland, Northland Minerals Limited, albeit in the early stages (applying for prospecting permits).

I'm surprised this didn't rate a mention .... well maybe surprised is the wrong word! disapointed would be a better choice.

[Jess9]

Agree, good it was said but the connection to HGD could have been articulated better, am I missing something? Is it not logical to have led that directly into... and HGD applied (and provide an update of where this is at etc)for a dirty great piece of Northland -which the report idicates has billion dollar potential!

[Woody51]

This is the point I made in my previous two posts, they seem to have no PR nous at all. How they could write this release and not talk up (or even mention) their holdings/interests/first starter advantage or whatever, in Northland, totally defies logic. Talk about opportunities lost. Even a dopey PR consultant could have tweaked that release in 5 minutes to get it on message. Sorry if I sound negative, but communications is my business, and I have to say I nearly fell out of my chair when I opened the release. Glad to come home and find others agree. Management really have to get their PR act together before the BIG announcements start flowing, or they will be lost in the static.

[BAPP]

Hi Woody51,

Totally agree with your comments and the 'lack of' PR and forward thinking communication has been my point also in recent posts.

Management is letting opportunities to heighten market awareness of HGD slip them by. (Obviously PR is not their expertise) however the expertise required can be easily acquired!

I'm going to be proactive and e-mail Peter with a few suggestions in this area and with a bit of luck he may consider them.(maybe it is worth a few other readers doing the same).

Cheers
BP:)

[Jess9]

Excellent, excellent idea BAP. It would be a such a waste if the current "technique" impacted on complete warrant conversion - it would make a few grand for PR support to ensure the right message gets clearly through when making these kind of announcements, seem ridiculously cheap!

[ScrappyO]

I agree these guys need a rocket up their **** .They have got 3 excellant opportunities, but aren't really selling them. Must be the kiwi attitude "she'll be right".

[etrader]

Bap have emailed Peter in recent weeks on multi questions/topics links etc and no reply, sent it to the office@heritagegold.co.nz but no responce.

As a holder of quite a few shares i guess i'm more disappointed that hgd have come out with lack lustra reports small info on drilling.

You just need to look at companies that can bring out a report and the light goes on big time, at least a 10% movement would be viable with a 30 billion dollar resource potential.

I think the sooner more people email/ph and get on there case the better. Maybe peter is not the right person to email, as after 20 years they are still just bringing out drilling reports with potential veins lower in the ground.

Considering selling down and getting involved in more progressive companies. I sometimes wonder if they want the s/p suppressed to allow to a takeover by themselves once the cobalt values and a few other things come more apparant.

[Jess9]

etrader, your comment is a perfect example for why the change I suggest is occuring presently, is so crucial for HGD to transition from penny dreadful to active explorer/startup producer, and one that delivers meaningful results and significant shareholder value!
Your call, but you may wish to give WG (i.e. new blood) a chance to focus HGD and deliver. Remember he now also has a stake in HGD.

[Jess9]

also wonder if a "surprise" northland permit granting/exciting new possibilities type announcment might pop out soon. This permit as been "in process" for some time now.

[Jess9]

finally - I think the share is at the end of its recent weakness, a nudge from the right source may be all it needs to push through 10c again :D

[ScrappyO]

Big Story in the Herald this morning on HGD and the prospects up North. The PR team must be working overtime.;)

Heritage supports Northland mineral survey
7:30AM Saturday June 02, 2007

Listed mining company Heritage Gold yesterday backed a new mineral study of Northland which revealed the potential for $33 billion in mineral deposits in the region.

The council-supported study, conducted by Geological and Nuclear Science and the NZ Institute of Economic Research, found there was potential for $28 billion of non-metallic and $5.2 billion of metallic deposits in Northland.

Heritage Gold managing director Peter Atkinson said the study was the first of its type in New Zealand.

[etrader]

Watch the shareprice go nuts on monday with that 10 line article.

Well done HGD

[whatsup]

E trader , I dont think so as that "news" is old and well known by the "players", that is one of the reasons that the share price has "lifted off " to where it is now, something "really " exciting has to happen for the s/price to move something that will surprise the market in a positive manor.

[Woody51]

Can anyone tell me when the Northland exploration licenses will be granted, if in fact they are. Researching back it seems the application for the two areas was made a few years ago. Seems a very long time, and especially given the much needed economic boost it could provide for the region - as outlined in the study the other day. Does Heritage have any other ongoing stuff in Northland?

[etrader]

quote:Originally posted by whatsup

E trader , I dont think so as that "news" is old and well known by the "players", that is one of the reasons that the share price has "lifted off " to where it is now, something "really " exciting has to happen for the s/price to move something that will surprise the market in a positive manor.


Meant in a light hearted way "whatsup"

Only the hint of Uranium set the stock alight for a few months even when the due dill period passed the stock appreciated by 10%.

Will watch and wait

[ScrappyO]

quote:Originally posted by etrader

Watch the shareprice go nuts on monday with that 10 line article.

Well done HGD


Queens Birthday Monday so i agree:D

[blackcap]

quote:Originally posted by ScrappyO


quote:Originally posted by etrader

Watch the shareprice go nuts on monday with that 10 line article.

Well done HGD


Queens Birthday Monday so i agree:D


It may in Australia though :)

[BAPP]

From what I can gather Heritage operates it Northland project through subsidiary Northland Minerals Limited (NML), and has lodged 3 prospecting permit applications in the Northland region. I believe the first applications were made last year.

The Hikurangi permit application area is prospective for epithermal gold-silver deposits, similar to those found in the Coromandel volcanic zone which hosts the Martha gold deposit. The area is prospective for porphyry copper deposits also.

The Tangihua application area has potential for gold-rich volcanogenic sulphide base metal deposits, which have been noted by previous explorers. Apparently no recent systematic exploration for major deposits has been undertaken in this area.

Heritage has also applied for an additional prospecting permit adjacent to the above Hikurangi permit PPA 39-317, which is also prospective for gold and silver.

Announcements suggest consolidation of the 3 prospecting programmes applications is being considered to improve the effectiveness of prospecting work and introduce economies of scale.

Heritage is planning airborne geophysics, geological mapping, geochemical sampling and computer-aided deposit modelling to delineate areas of mineralisation for detailed evaluation

Although the region has favourable geology and very significant exploration potential it has attracted very little modern exploration attention. This was highlighted in the new study.

So it looks like here is still a lot of work to be done before HGD will be taking advantage of the multi billion dollars worth of resources hidden in Northland, however it it is all positive for them assuming licences are granted.

Maybe this study is what has been needed to get 'things moving' for HGD in Northland.

Although I think it will take a lot more than this to get the share price moving upwards with any significance just yet!

Cheers
BP :)

[Jess9]

Thanks BAP, good summary.

Wonder whether we are being too hard on HGD and their last announcement. Maybe we will see a planned "part 2" early next week, following on and updating the permit situation and outlining their objectives for this new area and plans etc.

Northland permits (started 1-2 years ago) does show good forward thinking, as when finds (and if big) are made, small caps could well be elbowed out of the best/most prospective areas, there.

Due to no real mining to date, any significant Northland find could be massive. Imagine HGD using Waihi knowledge to apply for areas which may contain similiar levels of resource to past Waihi...think of another virgin world class Martha, offering the finder tens of millions of gold/silver oz, and perhaps all bagged by a minnow [:p] Millionares would be made over night, and Northland would be endorsing HGD!!

[BAPP]

Hi jess9,

I still think Heritage could do with some expert assistance on the PR front and I have contacted Peter with some suggestions.

There communication to shareholders and the markets has been 'ho-hum' for a long time and most of the releases have just been 'tinkered' copies of previous announcements which have past their 'best by date'

However with regards to the Northland study release I quess the only option may have been to endorse the findings and get some 'brownie' points while doing so. Obviously having the applications granted would be the number one priority!

Lets see what happens in the next week or two, but I would still encourage readers to forward any constructive suggestions to Peter. He needs to be aware of what shareholders think, but in proactive way. (remember we don't know what goes on behind the board room doors!)

Lets hope the process in Northland ( and Waihi, Broken Hill & Dunmarra for that matter!) is well underway so HGD has a head start on others!

Cheers
BP:)

PS: I would quess that Warwick Grigor may be able to give a 'bit of inspiration' on the PR side once he gets settled into his directorship duties also!

[Jess9]

"However with regards to the Northland study release I quess the only option may have been to endorse the findings and get some 'brownie' points while doing so. Obviously having the applications granted would be the number one priority!"

Hi BAP, my guess is that what you say above may well have influenced
what was said (or not said ; ) However that aside, hopefully the implication is that the study is a green light to likely and favourable granting of HGD's exploration permits.

On permits, also wonder if we may see the granting of the Dunmarra uranium exploration permit soon. From memory, and I think you may have mentioned this, it was indicated to take 3 to 6 months. If this was to be granted and the exploration programme kicked off (as funding is in place already etc) we could see renewed AUS interest, as noted earlier, as HGD will pop up again on the "uranium radar" and AUS investors wanting more would likely bite up chunks of HTM,to get additional exposure to this exciting Uranium prospect. Remember when this was announced, HGD/HTM had share turnover of almost 30 m in a few days, and HGD on NZX was propelled through 10c, touching 11 or 12!

[Woody51]

What would be excellent is if the permits were granted this week - you could really lever off that haaa.

BAB thanks for the Northland information. Got it saved for the right opportunity. As I said previously, I don't have a good handle on the gold side. I have looked back through announcements etc, but can't see any references to how many rigs are operating at the moment. Anyone know?

Instinctively your'd think the cobalt and uranium plays would drive any immediate interest in the stock, but the gold at Waihi does add to the diversification, and if it's 'highly prospective' - higher grades/ expanded resource - you'd think things would really be cranked up. I don't have any feel from the reports if things are cranked up or they are just plodding on. As someone said, there seems to be a lot of cut and pastes from previous announcements and no real drilling timelines.

The company should realise that there is 'internal' communication as well as 'external' communications - and keeping shareholders in the picture and contented is very important. They are not good at this either, I think.

Anyway, HTM is highly undervalued and potentially provides wonderful opportunities for all.

Off to do the Sunday kids rounds ... basketball ... more joy!

[Jess9]

Woody51. Re gold progress, HGD were going along relatively well considering $ constraints. They had Karangahake all laid out in logical phased work plans, which got us to the point of a solid JORC resource (HGD was heading up and trading between 10 - 12 c and gold price was alot lower then). Phase 4 was to "up" this resource to enable viable sustained production at Waihi... However, this is where it snagged, and investor favour was lost. For what ever reason focus on phase four completion was not maintained, there was alot of time spent on possible corporate action, for a Waihi asset spin-off and valuable time that should have been on phase four, wasted. Thats when HGD hit its lows of about 3c.

Since then, I think this has been acknowledged - evidenced from the significant changes announced earlier this year.

This is the main reason why I have repeated that the board/senior management change is necessary, to get different results. In my view the board needs to provide strong strategic focus and incentive to a motivated CEO who has demonstratable experience in taking a coy from explorer to producer. In my mind (and not taking away from the skills the HGD team do have) this has been a weakness.

With respect to the phased developement plan for Waihi, thats also why there is repeated discussion on this thread on JV or out right takeover for the Waihi assets (and possible a defensive reason for the failed spinoff). The right JV partner would get HGD into, and through phase four pronto. There was mining study done which I think supported this phased development (at Karanghake), if I can find this I will post also.

[Jess9]

2041

29 July 2004

Market Information Services Section
New Zealand Stock Exchange

Level 9
ASB Bank Tower
2 Hunter Street
WELLINGTON
BY EMAIL PAGES: 1 FOR PUBLIC RELEASE

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

The conceptual study was based on mining 150,000 tonnes of ore annually from underground operations to produce 50,000 oz of gold equivalent (gold+silver) per year, initially on a toll treatment basis.

The study found “no fatal flaws” in the mining concept, subject to Heritage identifying the gold (+silver) resource needed to support such an operation.

The initial capital cost indicated by TIP is approximately NZ$23.5M. Heritage would expect to fund the majority of this through an appropriate loan and/or by contracting the underground mining development and operations.

The indicative annual gross margin is approximately NZ$11.5 – 12.0M at a gold price of US$380/oz, based on the TIP study Heritage is now preparing for the Phase 2 underground sampling/drilling programme at Talisman. This is aimed at substantially increasing the existing (JORC Code compliant) indicated and inferred resource of 109,600 oz gold and 438,400 oz silver(as previously reported on 31 May 2004), by December 2004.

Mr. S Solomons and Dr B White of Tennent, Isokangas Pty Ltd ("TIP") confirm that the information contained in this Report, that is based on their report relating to the programme of work carried out by them on the Conceptual Mining Study at the Talisman Mine at Karangahake near Waihi, New Zealand, is correct and accurate. Mr Solomons and Dr White formally consent to the inclusion in this Report of the matters based on their information in the form and context in which it appears.


Sue Sangster
Company Secretary

[Woody51]

Thanks Jess for putting the pieces together for me. Appreciate it.

[Jess9]

There is also the full Eagle reseach report floating somewhere on the HGD website - made interesting reading sometime ago.

Also regarding the developement phases...this was the plan (again from HGD web site)

------
Current drilling and resource.

JORC gold Methods
Phase One 2004 109,600 ounces 438,400 oz Ag (6,500 oz Au equiv.)Underground channeling

Phase Two Q2/05 205,000 ounces Underground channeling, drilling

Phase Three Q4/06 4 – 600,000 ounces Underground channeling, drilling, metallurgical sampling


Hmmme stuck on stage 2, sorry stage 3 not 4, was were we should have been now...

[whatsup]

BAP < HGD doesnt lack PR the "market " ia driven long term by facts not PR ans so HGD doesnt want to blot its "copybook" by posting/releasing meaning less PR (which the market doesnt take any notice of)
Let the results do the talking no meaning less PR!!!

[Jess9]

Probably wrong to say "stuck", rather delayed. After all this is what the present drilling is all about. Be good to see them hit well into that range (or more) soon through.

[BAPP]

Hi whatsup,

You have no arguement from me regarding the use of 'meaningless' PR.

However there is a major difference between 'meaningless PR' and 'meaningful PR' and the meaningful type should not include news releases which are mostly copy and pasted items from previous announcements.

Maybe I should have changed my choice or terms by using 'good communication' rather than good PR.

Good PR/communication isn't necessarily just about putting a 'spin' on things, most importantly it is about the relay of good, up to date information to the intended audience.

For example if HGD had good PR/communications like I'm suggesting, there would probably be less quess work used and questions asked on this thread.

There would possibly be less HGD sceptics in the market, which in turn could lead to the share price being closer to it's real value rather than trading at a discount.(but who knows!)

Unfortnuately with publicily listed companies(and many others) the 'results can't do the talking' unless the directors let them-and how they do that is very important to all stakeholders.

Cheers
BP:)

[Jess9]

Whatsup. Also would like to add, as progress occurs over time and shareholders come and go, current announcements need to include good contextual information (like reference to the phased Talisman plan noted above) or else announcements relating to project areas do not provide "big picture" meaning, and the reader is left wondering "so what".

I sometimes wonder if Peter A. knows this background and project strategy so well (almost 30 years with the Coy and at the helm) that it seems repetitive and almost assumed knowledge to the wider market. However if such contextual information is left out each time, newer investors need to do alot more work to understand how each announcement fits into the overall strategic picture. So to me its about telling the project story, but I agree with both you and BAP, in that this disclosure should never be a tale : )

[Woody51]

What's the point in giving the impression - with a major project that a lot of people have backed with their $'s over the years - that you are just going through the motions. Beats me. After all, it is our company isn't it?

I don't think it's too much to ask how many rigs are operating and when we can expect further results. Everyone else releases that sort of info, why should Heritage be any different? I think impressions do count.

[Jess9]

Ticking up in AUS today, bo****s about equal. Still small volumes, compared to the fun of a few weeks ago. Lets have another nice "surprise" announcement!

[BAPP]

It would be good to see HGD taking advantage of this in a couple of years. Lets hope those licences are granted soon!

From the Sydney Morning Herald:
URANIUM spot prices could reach $US200 a pound within the next two years, buoyed by a shortfall in supply and increasing investment in the nuclear fuel by speculators, according to Macquarie Bank.

Price of gold & cobalt looks positive also!

Plenty of opportunities waiting to be exploited!

Cheers
BP:)

[STRAT]

Hi Jess and BAP. This thread was first brought to my attention by BAP on another site. Its been a while since I checked in here and as usual there is a wealth of info to read through. Your continued efforts are appreciated. But the SP continues to slowly but surely slide down. May I ask what is the time frame you have outlined in which you expect some action from these guys that will be reflected in the share price?

[BAPP]

Hi Strat,

Good to see you back!

Personally I look at HGD as a long term investment( around 3 years)and it will hopefully be a part of my retirement fund. (I would like to retire sooner rather than later though!)

However I also need to see some progress and for a share like HGD I always review my portfolio position on a 6 monthly basis. I had also set targets that I had hoped HGD would make throughout the 2007 & 2008 years.

With my first evaluation/review this month leading up to the warrant conversion, my share price target is 12-15 cents. I had been expecting a gold resource upgrade at Waihi by now, however there's enough potential and activity to keep me happy at this stage.

Like most shareholders, I would have preferred to see share price tracking upwards rather than sliding away as you have highlighted. If we get the anticipated upgrade I'm sure the price will be rerated above my target quickly.

My 2nd review for 2007 will be at the end of the year and I will be looking for some clear progress on the cobalt front @ Broken Hill. My share price target is 25-30 cents by this date.

Once the Uranium licences are granted who knows what will happen, but I will be looking for serious progress in activity and share price by this time next year. By that time I will have been a stakeholder for over two years and will be start to make serious decisons on the state of my shareholding.

I still believe we could see the share price climb to well over $1.00 next year if the known assets prove to have even half the resource levels suggested. I sometimes look at SMM charts to plot the type of upwards tend that could be achieved given positive results.

The potential is fantastic, but we still need positive facts and figures before the market will believe HGD is the real deal!

So still a bit of time to wait IMO.

Cheers
BP:)

[Woody51]

Hey BAP - you got an eye on that retirement thing too eh? Grigor in his last uranium thingo, said sooner, rather than later, re the uranium potential in the NT tenments. Don't know when we can expect any announcements re anything. Lot of "trust us" with this company. At leat they are not from the Government!

Buying very low and holding when the fundamentals say yes, is the way to go. I gotta a couple that might help the retirement and keep u interested in the meantime. Let me know if u are interested. Woody.

[Jess9]

Talking retirement...getting a few premature grey hairs watching the ASX close - down 13%(lucky for some ; ) on HTM

Agree though BAP, I think considering all discussed on this board, another six months should see the price at least double and possible hit 20c or more with the U permit/exploration later on.

Must stop watching those daily movements!!

[ScrappyO]

quote:Originally posted by Jess9
[Must stop watching those daily movements!!


..But we just can't help it :(...

[Jess9]

Ahh so true, at least today's price action was on low volume, and definitley not bad in relation to the wider market.

[STRAT]

Thanks for the warm welcome back and comprehensive reply BAP. Long-term plans are great but the money would be better off some where else at the moment IMO. All my U specs are under performing right now and I am expecting that to change short/medium term. If this turns out to be true and HGD get some good news out perhaps this will give them the support injection desperately needed at the moment.

[ScrappyO]

Heritage Gold NZ Limited
AGM
22/08
545 Parnell Road , Parnell, Auckland
11:00am

Have a bit of time to kill before the AGM.
Hopefully we wont have to wait till then for good news

[Woody51]

The licenses are due to be granted for the NT uranium, that would keep things bubbling.

Been going back over all the research I did before buying into Heritage, and I'm mentally back on track after digesting the recent weird company media releases.

We have ground entry into a very exciting stock that is going to keep us very entertained over the next six months - and very rich with a bit of luck. In faith, I will buy more if there are any ridiculous dips this month. Still holding cash for such a moment.

As Warwick Grigor so aptly put it: "A genuine exploration punt".

[jonny5]

intra-day roller coaster on $3k trading.

NZ is a very strange place indeed.

[BAPP]

Yes, it can truly be 'testing' watching the day to day fluctuations of any share(but especially HGD), however I believe woody51 has highlighted the correct strategy for 'testing' times.

Revise the research you did before buying into Heritage and then get yourself mentally back on track. Have belief in your initial reasoning to buy a stockholding in HGD and then keep to your original plan.

Unfortunately I'm not in a position to make any more share purchases as I have just recently paid up for my warrants, but I remain as confident as ever that this share will be re-rated upwards several times over the next 6 months or so and will help me fulfil my original plan.

I hope it brings wealth to all you other shareholders too(and especially to contributors of this thread).

..and every time you get nervous go and check out the charts for SMM, CDU and DYL and check how their fortunes changed from penny dreadful's in a very short period of time, while making many patient shareholders into millionaires.

IMO it's worth holding on for at least another 6 months! The potential is fantastic and before the end of the year (Yes preferably earlier!) we should know the outcome of both the Northland and Dunmarra permits and have more facts about the gold at Waihi and cobalt Broken Hill.

Keep smiling and 'stick' in there!

Cheers
BP:)

[Jess9]

The last announcement could have made this clearer, but apparently drilling for gold is still underway in Waihi, and core samples as extracted, are being analysised as quickly as possible...so, one could expect more results sooner rather than later.

[BAPP]

Hi Jess9,

I've had the same feedback and Peter seemed happy with the drilling progress and confident things were going to plan at Waihi.

Again lets hope we have some news sooner rather than later!

Cheers
BP:)

[Tok3n]

Speaking of Northland, I see RIO are sniffing there for Iron

Hopefully they (HGD) get some permits there

[etrader]

From my understanding it's just on the west coast of Auckland and Mokau so @ sea vs northland land based.

[BAPP]

Does anyone know anything about the ASX listed company Kentor Gold?

It seems they have also applied for permits to explore for uranium in the Dunmarra Basin using a similar funding basis as HGD.

Would be good to hear if there is more to this 'than meets the eye."

Have a good weekend all, if your a shareholder you need it this week.

But keep smiling cos' I think we will get our hard earn't rewards in the not too distant future!

Cheers
BP:):):)

[Woody51]

BAP, Kentor is an interesting one. As far as I can see, Kentor and Heritage are the only ones with uranium explorations tenements in the Dunmarra basin. And, as I alluded to in an earlier post, Warwick Grigor has an involvement with Kentor, both as a shareholder and through Monaro Mining in Kyrgyzstan. Kentor and Heritage both picked up their Dunmarra leases around the same time, maybe through the same connections? I dunno, but there has to be synergies there. Kentor have recently made management changes and look like they mean business.

Think tax loss selling in Oz is kicking into Heritage, which is a shame.
Looks like it's dead cold all over NZ, rug up!

[BAPP]

Hi Woody51,

Your right about it being dead cold on this side of the Tasman (especially on the soccer sideline!) The sun is out though and things are starting to warm up!

Now we just need something to start warming up shareholder confidence in HGD. There is definitely downward pressure on the share price so it would be good to see some news flowing through next week and before the warrant expiry date.

From what you're saying about Kentor Gold you would have to suspect some type of collaboration between the two company's at some stage. They seem to have a lot in common and although I know very little about Kentor, it seems they are at a similar business stage/phase to HGD and have also looked to 'new blood'.

Interesting to see Mr Grigor involved in both organisations, maybe this is a sign of things to come??.

Cheers
BP :)

[Woody51]

BAP, it's freezing here too mate, snow weather. Always turns it on for soccer day - only three trips across town this arvo!

[BAPP]

The investor info page on the HGD/HTM website has recently been updated.

Top 20 shareholders list has a few additions, noticeably Pacific Gold Resources, Nikam Investments, Gurravembi Investments, ANZ Nominees along with FNZ Custodians adding to their stakeholding.(good sign IMO).

Maybe a few more changes after the warrant conversion date. ( Maybe there will be a few readers of this thread who appear on the top 20 list once/if they convert their warrant? )

Cheers
BP:)

[Woody51]

BAP, I presume some of these came in from Oz with the latest placement. Who are FNZ? Tks.

[Jess9]

HGD board are apparently very aware of the upcoming warrant date, and have been for sometime. That said, I haven't yet seen announcements with content that would guarantee broad conversion at 6.3c (yet at least). I think if we are to get something significant, from the Board's forethought, it must come this week! Lets see HGD over 10c before conversion on something of substance and which generates alot of sustained interest. Something sweet and cobolt related could do the trick, and throw in a decent "U" announcement too for good measure!! Come on HGD you have over a mill riding on this...widen that gap or w/holders may simply choose to accumulate heads on dips, as current interest wanes - and before interest spikes again.

[Jess9]

That said, on depth and recent volume - 10c could be easily cracked, if they they can get the right announcement out on time i.e. this week...ooo bit of a nail biter then ; )

[croesus]

Jess and Bap......I hope I am wrong, but I don't think we will get any announcement.... whilst I will convert mine, probably many will not, I am coming to the conclusion Peter is not up to the job.

[BAPP]

Hi Jess9/Woody51,

Sorry Woody51, I know very little about FNZ Custodians other than that they have investments in a lot of NZ & Aust based companies. (Maybe some other readers could enlighten us on this one.)

Jess9, I was given the impression that the warrant conversion was a major focus and discussion point at the directors last meeting.

You're right, there has been nothing forthcoming (to date) that would convince shareholders that converting their warrants @ 6.3 cents was a good deal.

To date, there has been very few warrants converted, although I suspect that the bulk will be handled as one transaction on the due date.

I find the combination of some new shareholders (Pacific Gold, ANZ Nominees etc.) along with the point that Woody51 noted about Warwick Grigor & Kentor Gold very interesting. (I often look for an underlying theme, when there is common shareholders and management changes within similar type operations).

In a recent news release HGD hinted they were looking for supportive funding arrangements if the warrant conversion was not successful taken up, so they are obviously preparing for this outcome.(maybe an announcement will not eventuate)

Anyway we will know within the next ten days which way this will go. A positive announcement early this week would definitely be beneficial to achieving full conversion and giving the market confidence that this company has real potential.

Fingers crossed for the next few days!.

BP:)

[Jess9]

Makes the Board's choice of next MD/CEO somewhat important me thinks, Peter will be a significant s/holder and want value increase too, especially with no salary, and only some fees based on contract work (as required).

[Jess9]

Hi BAP - while I understand their (HGD's) keenness for the money, it seems somewhat misguided to be scrurrying for an underwriter at this stage - when the focus should be on showing HGD's value to the market (leading in to this period).

Lets face it, the conversion date is of no surprise, if they were expecting to roll through it with full conversion - on no decent action/announcments etc, then we need further Board change. Lets see the new Board look after all holders' interests next week, i.e FPO, option and warrant holders. This presents them a wider opportunity to demonstrate they are looking after their holders interests.

Lets hope the new board pick up on this, and grab the reins quickly.

[Jess9]

Anyone got handy, a direct email address to Warwick Grigor?

[Woody51]

W. Grigor has just got back to OZ I believe from three weeks business overseas. My best guess re his email would be warwick@fareastcapital.com.au. Could be wrong.

[Woody51]

Actually, it's wgrigor@fareastcapital.com.au according to a research report I located on the web.

[Jess9]

Thanks Woody.

[whatsup]

Whats the absolutely latest that the warrants can be paid , as a aside youd think that there would be some sort of possitive ann made "this" week unless HGD will bomb,,,, unless its "under written" and hgd is keeping mum.

[Woody51]

Down five percent on the asx today and quite big volume relative.

[BAPP]

Hi whatsup,

Depending on the ability of your 'snail mail' I would suggest you will need to send the cheque by friday 22nd.

Your payment and warrant conversion form needs to be completed and returned to Link Market Services Limited for New Zealand residents or Williams & Hughes if you are an Australian resident by Wed 27th June. View this link: http://www.heritagegold.co.nz/PDF/ASX29May07.pdf

Good volume on ASX today as Woody51 has indicated. So still some interest at the right price, or are some traders simply taking a punt or is something about to surprise us and investors getting in now?

So many questions and no answers from the management just yet!

Cheers
BP:)

[tim23]

If you buy this stock on the NZ market you are overpaying by nearly 1c better to buy on the ASX works out a fraction over NZ.06c

[Woody51]

BAP, I suppose the good thing is that people were prepared to buy at a 5% discount - but the bad, plenty happy to bail out - and on the same day ... Maybe tax loss selling in OZ. Who knows. Will be watching closely tomorrow. One for the true believers, this one.

[Woody51]

By the way, when do you stop being a "junior member" on sharetrader? My 11 year old son thinks it's a hoot !

[Jess9]

Warwick Grigor seems to be a good choice (and a lucky one to get) for HGD. I think he will ensure a good CEO is sorted ASAP, and assist the Board to work with him to put things on track. I think he also has $$ invested, and more importantly, a reputation.

Good money to be made - but as said above, not for the feint hearted... right now at least ; )

[Woody51]

Jess, a terrific coup for Heritage. There's a lot of new investors who wouldn't be here (including me) if he hadn't shown the confidence in Heritage that he has. Not to mention the uranium adventure he organized.
We'll be right.

[croesus]

From a contrarian point ....this stock is a screaming buy...validated by warrant money pending, general uncertainty, weak shareprice, etc etc... will hold paying for warrants till the last 48 hours.... me thinks heads may revisit 3 to 4c ....

[BAPP]

Hi Jess9

Did you make contact with Warwick Grigor?

I believe his shareholding in HGD is through Gregorach Pty which is on the top 20 list.

IMO both Mr Grigor and Mr Hill the new Chairman, have signifcant reputations within Aussie financial markets. They would not risk this or the money unless there was a reasonable certainty of large rewards 'down the track'. Mr Hill is the main shareholder in HGD, ahead of Peter Atkinson.

Cheers
BP :)

[Woody51]

Further to your reference to Kentor, BAB. The company has just announced a placement by Far East Capital (Grigor) for more than $2.5 m. Oversubscribed by Grigor's clients. It looks as if it's principally to advance the Dunmarra Basin uranium project. Heritage tenements are close by. Warwick Grigor isn't short of backers.

Heritage slipped again today - another dip and I am back in the heads.

KENTOR GOLD PLACEMENT COMPLETED
Kentor Gold Ltd (ASX:KGL) is pleased to announce that firm commitments have been
received for A$2,600,000 from clients of Far East Capital Limited. The placement
comprised the issue of 20 million fully paid ordinary shares at A$0.13 each. The
placement was approved by shareholders at the AGM on 24 May, 2007.
Far East Capital is an independent Sydney-based private investment bank specialising in
the resources sector. Far East Capital has advised the Company that they have received
commitments well in excess of the 20 million shares and applicants have been scaled
back accordingly.
The funds raised will be used to support further exploration and drilling in key company
projects including:
• Uranium exploration in the Dunmarra basin in the Northern Territory. Kentor has a
55% stake in Dunmarra Uranium Limited and interest in 10 exploration licence
applications (ELA) in the basin, totalling an area of 5,474 km2.
• Commencement of drilling on the Savoyardy Gold Project located near the town
of Osh in The Kyrgyz Republic.
• Additional exploration and assessment of geo-thermal licences located in five
areas across the Kyrgyz Republic.

Etc ...

For further information contact:
Mr Simon Milroy
Managing Director

[Rik]

Has anyone noticed always late in the day very small parcel of shares being sold at discount. It has been hapening quite often lately. I'm only speculating but it looks to me like someone likes pulling the share price down!

[BAPP]

Hi Rik,

This happens to quite a few stocks, especially when a few people(traders especially) try to take advantage of a situation where the market/investors are undecided about what is about to happen and when management is not providing clear indication of the company's future direction/strategy. (sound familiar and of course it seems to have a bigger affect on penny dreadfuls!)

These 'traders' endeavour to play on people's emotions and as you can see it often works!.

Don't let emotion 'sway' you. Make sound judgements and 'weigh up' all the facts and do your own research. Then buy or sell based on what is the right decision for you!

Remember big risk, often = big rewards! (but don't put your house on it!)

Good to see you contributing to this thread!

Cheers
BP:)

[Rik]

Thanks for that BAP. I should stop checking the share price so often!

[Woody51]

BAP, you'd think the company would use a broking house for a week and massage the shares to ensure Warrant conversion. There's only a few cents in it and not big dollars. Maybe Rik is onto something. Perhaps someone is deliberately sucking out the nervy small holders and tax loss sellers, and will switch strategies later this week driving the price higher. This strategic trading stuff is not my caper, others on here may have a view on how such things work. Something doesn't seem right. You'd have to think if the Warrants aren't taken up for the sake of a few cents, then the company has blown it big time. I'm buying the conspiracy theory. It did finish up off the days low in OZ.

[Woody51]

Just occurred to me my suggestion is probably illegal. LOL.

[BAPP]

Hi Rik,

Depends on whether your in for the short term or medium to long term. For me, the short term is less than 6 months. Medium term is 1-2 years and long term is 3 years. (People will have their own thoughts or versions of this.)

I still look at the share price each day and believe me, my heart will 'miss a beat' when I see the price spiralling downwards or 'beat' with excitement when it's heading higher.

That's the emotional side, which lasts about 30 seconds - hopefully my brain 'kicks in' shortly after and makes the rational decisions. ( the ones I should act on!)

For me, HGD will hopefully be a part of my retirement fund so it was always going to be a medium to long term investment for me. (see a previous post from a week or so back)

I have no intention of 'getting side tracked' by the day to day fluctuations caused by people with different motives.(but that doesn't stop me looking!)

The underlying potential, known resources and permit applications have not changed in the past month. The top 20 shareholders still seems pretty stable and they hold almost half the shares, - so what has really changed?

We all anticipated a positive announcement leading up to the warrant conversion date, to date that has not happened. But there is still a week to go and a lot can happen in one week!

So now the only consideration is whether the company can raise the working capital to keep their exploration and drilling activities on track to realise this potential.

I don’t know the answer to that and of course many will ‘rightly say’ that the warrant conversion was an ideal chance to improve working capital. The company has already hinted they have considered alternatives. (so they are prepared?)

Remember also that the majority of warrants are held by a number of key shareholders, much the same as the head shares.

I talked to a lady at Link Market Services earlier and apparently they have been instructed to process the remaining warrants that are applied for, in one transaction on the due date. (HGD instructions one would assume!)

But as I said, all this only matters if your intention was to sell in the near future.

As I said in an earlier post , both Mr Grigor and Mr Hill, have significant reputations within the Australian financial markets. Would they both really want to risk their reputation and their their money unless they were reasonably certain of a positive outlook? ( They won’t be making any mileage from either while the share price is heading down!)

These guys have more at stake than most of us-unless you've mortgaged your house that is! I think the old saying goes: Never spend more on an investment than you can afford to lose.

IMO we'll be winners some day soon, I just hope it doesn't take another 18 months!

Keep smiling either way!
BP:):)

[U-rain-e-um]

Dont worry everyone. Heritage Gold would be a easy share to manipulate up or down. I hold and intend to buy more if the share price drops a little more. To put it into perspective only $6,339,484 in value have traded hands this year. So as BAP said hang in there and keep smiling[8D]
This is not advise just my opinion (DYOR)

[BAPP]

Hi Woody51,

I think there would be easier and cheaper ways! In most scenario's it is about who controls the largest % of shares!

The current movements are still on relatively small volume, so there is no need for anyone to worry just yet.(maybe a few traders would be worried-but who cares!)

Good time to buy head shares this week if you have the cash (IMO).

Also IMO the next quarterly report will be interesting if nothing happens beforehand!

Still smiling!

Cheers
BP:)

[Crypto Crude]

quote:BAP-The current movements are still on relatively small volume, so there is no need for anyone to worry just yet.

No need to be worried...what!, sp hit 11cents and now its 6.2cents...
you fellas shoulda listened to me when I said to get out shortly after it peaked...
and posters here told me that this time there was great news coming and that I read it all wrong...
ID be worried....
lata...
[8D]
.^sc

[BAPP]

Hi sc,

Thanks for your informed input, but I won't start worrying just yet!

Cheers
BP:)

PS: For me HGD is currently outperforming NZO! Timing is everything apparently!

[BAPP]

Hi Woody51,

Congratulations, you are now a member! Sorry I forgot to reply to your ?

Takes a long while to become a 'senior' member though!

Hope you will still be keeping us informed that long!

Cheers
BP:)

[Crypto Crude]

quote:BAP-
PS: For me HGD is currently outperforming NZO!

BAP
This aint a HGD vs NZO thing... its about HGD itself....
im rather happy with my nzood holdings infact...:)...
when you ride it for all its worth...thats when it comes back to bite you...

there is alot of hidden value in HGD, weather markets will see that or not in the near future is any ones guess...
lata...
[8D]
.^sc

[croesus]

Not a lot ofmarket interest this morning, would'nt be at all surprised if the inept management come out with glowing reports/surveys etc etc, in a cpl of weeks....

[Jess9]

The selection (and acceptance) of the next CEO in my view is critical to how well/quickly "hidden value" will be made apparent.

I'm quietly confident this could be in hand, but lets see who is found, and what their rep is.

Gold, Cobolt, and now Uranium - a lucrative mix if well managed, and all at a bargain basement entry price, right now at least ;)

[croesus]

So you agree Jess, the current CEO is out of his depth....HGD is certainly ripe for a takeover by the likes of Newmont, Rio, etc.... more worrying is that nobody has attempted to...maybe the resource(s) arn't all they are cracked up to be ?

[Jess9]

Croesus. I don't think they would get agreement from bigger shareholders at present - unless the price was very good, and unless HGD resource value is clear i.e. a big hit in the bag, such a price would not be offered.

I like the MD alot, but think to get to the next stage, HGD needs more focused operational direction, and drive. Lets see what happens...I think while summit obviously has the resource now, it also needed the leadership and focus to develope and bring out the value. HGD could be a Summit, as big resource is likely within HGD permit areas.

[croesus]

Yeah right,.. maybe I am being a bit harsh, but from memory HGD was formed in 1985 to acquire prospecting licences from P Atkinson, who hello turns out to be the current MD... thats 22 years...

[BigBob]

BAP or Jess9 - you guys seem to know this company pretty well...

Doing a bit of research into HGD, I came across the fact that a John R Mowbray is the top warrant holder - he, along with "Stuart Mowbray and Richard Oldham" and a John Mowbray own 8,834,265 warrants or approx 40%, which if converted would give them about 4% of the company.

John R Mowbray is the Mowbray in Mowbray Collectables (MOW) where he holds 44.62% (S M Mowbray and R F Oldham hold just over 3%). The highest profile holder of MOW is one R. A. Brierly (yes him!) with 6%.

Question for you - is there any connection you know of between MOW and HGD or key HGD players and the Mowbrays? Do you know how the Mowbrays got their warrants (Only a Stuart M Mowbray appear on the top 20 for the heads)? Did they buy them on market recently?

With the Brierly connection - is there a connection to GPG? I assume that someone (e.g. GPG) could underwrite the warrants - if they did they might end up with close to 10%...

Anyway, just bit of speculation to brighten everyone's day...

Disc: hold heads and warrants

[croesus]

Big Bob you should be working for Investigate magazine..if only... I am fairly sure J Mowbray has owned his warrants from the outset..if so he would be sitting on a hefty loss as that would mean he has paid 2 instalments. I suspect the Mowbray/Brierly connection relates to stamps... thus a GPG involvement would be a bit left field...will be interesting how much money HGD pour down the toilet in underwriting fees re the Warrants...if I was underwriting them I would be after a hefty fee.

[BigBob]

hehehe croesus - I might be Ian W. for all you know... ;o)

Just a bit bored today - and I suppose I'm still waiting (hoping) for some kind of an announcement that would convince me to convert my warrants...!!

Anyway, I think you're right about hefty fees and my take on this is that the warrants will be underwritten... so yes, money down the toilet...!!

[etrader]

This is just a big balls up by hgd.

Management, be they new or now have had an op for around 1.5 million in cash plus the $700k they got earlier this year around the time the uranium info came out. But they've stuffed this one up options are worthless now and you'd be wasting your time buying them and probably loosing money owning them post conversion as the head shares are around the same price as the conversion rate.

I know we've been talking of upgrades in Waihi, we've waited 3 months with no more news on the uranium licence, from memory at the time they mentioned a few months to obtain the licence, but this could drag 6 to 12 months. Cobalt in general is doing well, no new info on it or a potential ipo.

The 3 main sectors they're in are all doing well on a global scale but the updates from hgd is poor at the moment.

When will a rocket go into the direction of management.

I still hold and will continue as i beleive Mr Hill and Grig have a large % invested in this co and will be owning for a reason.

[BAPP]

Still a few days to go before you need to make that final decision to convert your warrants, so don't be too critical just yet.

I think you'll see something come through before Tuesday, but whether it is convincing enough to make you send your cheque is another matter!

IMO it is worth the risk and I 'paid up' a few weeks ago. I still suspect the 'real' news will come out in the quarterly reports in July and October. (I've always had a long term view on this one, so I can wait).

Yep! Their timing isn't the greatest, but was anyone aware of the Uranium permits when the warrant date was set? Also the time for the permits to be granted after application was around 3-6 months-we are just over 3 months now!

Yes, I agree we should be 'better informed', but that doesn't change any of the research I have done and it doesn't change the potential of the resource, from my prespective. It just changes our emotions, because the share price is sliding. ( and it's tax time fr some, so that's a 'given".)

I decided this stock was worth purchasing over 12 months ago, well before any Uranium news and I still believe my research and 'gut feeling' will prove I have made the right choice. Firstly the gold, secondly the cobalt and now Uranium. Not many explorers have this underlying potential.

We all make our own choices, but make sure they are 'rational ones' rather than 'emotional' when it comes to shares!

For the company to ensure they have the working capital to continue with their projects it makes sense to have a 'back up' plan if required. If that involves organising an 'underwriter' which is still a relatively cheap option if it guarantees that activity will increase.(IMO)

Cheers
BP:)

[Rik]

I agree with what you are saying BAP. I think a little patience is needed with HGD. I'm positive the ones who hold in their will reap the benifits!

[croesus]

Bap...you say " relatively cheap option" for a underwriter to contract say $1million, what do you think the charge is ???

My opinion is that the management of this company has let its shareholders down, I concur with etrader the information flow is below par... and decision making is worse.. remember the Mid Earth debacle.. less then a year ago... 20 odd years after listing this company is struggling to get its shares over 6c.
what does management actually do to earn their fees ....

[BAPP]

Hi croesus,

From past history I would suggest that it would cost the company between 2.5 -5% on $1million. (Not much in the scheme of things)

I would also suggest that Far East Capital (Mr Grigor) will have this covered if required, just look back at the Rights Issue last year.

The 'Uranium deal' has been underway for a long time( 6 months before we heard about it) and HGD have the preferred Dunmarra permit areas. IMO Far East Capital clients will be kept in the loop so to speak. (note KGL recent announcement concerning a similar area)
I think HGD had the 'first pick' on the permit areas they wanted to apply for!

Just my opinion! But there will be more to this than 'meets the eye'!

Cheers
BP:)

[Jess9]

I was thinking timing is ripe for a cobolt deal. If an IPO/spinoff is announced - with decent value attching to each HGD share, this might create a last minute $ surge. But time is fast running out. Broken hill has been in IPO review for several quarters now, be nice for this to culminate in a well put together deal for HGD holders, and underpin good warrant uptake.

Also be nice if the U permit was granted, be interesting to see what effect that would have.

[ScrappyO]

If HGD keep going like they have in the past and present when news does finally break the SP might not hardly move. They need momentum. NZO is a great example of what not to do.

[BAPP]

With the Uranium news release in April, everyone got excited about the new prospects and potential for HGD (including myself).

I suspect that many of us thought this would be the fore runner to further positive news leading up to the warrant conversion date. However remember that with any permit applications most of the time is taken up waiting for submissions or objections from other parties.

This process generally takes several months (at least 3 months) of advertising, before the actual paperwork can be signed and sealed and that's after the time it takes to consider any submissions etc.. This will probably add another few months to the process.

At the special meeting on April 12th, we were advised by the directors that the process would take 3-6 months. (I quess we all hoped for 3, but 5-6 is more realistic)

IMO they will have their applications granted, because ‘Aussies’ love mining and they are 'conditioned' to their land being mined for resources. ( without starting another topic, isn’t that why they are so far ahead of NZ economically?)

Maybe this is one reason why consent for the Northland permits is taking so long.? NZer's are not usually so comfortable with mining and this has been very evident in the past!

During this submission/objection period I would think that HGD will be preparing their exploration programme for each of the 3 properties in the Dunmarra Basin and ensuring that drilling can commence immediately the approval is given.

If we follow a projected time line one would anticipate that application approval could almost be announced by the quarterly activity report in July. So this may provide us with the first answers regarding the future of the Dunmarra Basin.

If drilling commenced at Broken Hill as was also implied at the special meeting, then I would anticipate some news in the July quarterly report also. IMO good results there will definitely lead to a listing for this cobalt project.

So while there is definitely no immediate answers and there will be some disappointed shareholders/warrant holders at the moment,- I still look forward with confidence.

Shoot me down if you wish, but I'm hanging in there for a while yet!

Cheers
BP:)

[lager]

I am with you BAP. There is value in holding onto HGD shares.

[Woody51]

BAP, I am with you on this one. At the moment HTM is disappointing the traders. But if one is patient, buying low and holding is the way to go. Although the price suggests otherwise, this is not a Penny Dreadful, it has a JORC gold resource, cobalt and prospective uranium tenements. It also has highly respected and powerful Australian connections. For every tax loss seller there is a buyer. I still think it's a buy at these levels. Some risk, but very high reward.

[tim23]

But buy on the ASX still cheaper!

[etrader]

IT's about perception of what someone will pay.

It amazes me how as we've all discussed the jorc resources
hgd holds and other assets values the company at about $10 mill or so yet on the nzx PLS was valued at $250 million with no revenue and just a pipe dream.

It's about perception. !

[etrader]

Notice came through from hgd that 1.8 mill options have been converted less than 10% of them in total raising about 110kish, seems a joke with the cost of the issue and time that goes into it for prob less than 200k by close. Still don't see why people will convert when you can pick up the head shares cheaper now.

Hope the management learn from this and realize the market needed more info , better results and a positive direction from management.

I think they indicated they were looking at alternitive funding arrangements if the options were not taken up in a big way but did not indicate that they were been underwritten ?

[Hems]

Hi there

Just received a call from Heritage gold to see if i had received my letter to convert the warrants and if i had any comments to pass onto management. Did anybody else get one?

Put on the spot i didn't have much to say to management except to say that i was disappointed with the share price, but now i can think of a few more. Bugger!

Still undecided about converting as the head are cheaper to buy in OZ then to pay the reminder of the balance for the warrants.

Any suggestion greatly appreciated.:)

[ScrappyO]

[quote]Originally posted by Hems

Hi there

Just received a call from Heritage gold to see if i had received my letter to convert the warrants and if i had any comments to pass onto management. Did anybody else get one?



Crikey :) from Heritage crazy stuff[?]

[Hems]

Hi Scrappyo

That's what I thought.

Anyway there is an announcement for drilling at Waihi, but it is only showing on the HTM page and not HGD(NZ). I wonder why?

Link:http://research.iress.com.au/ids/pds.asp?uid=0B37422ECBFDB876117C3CF5F17C1338717800 008085E090F72AE340F1AB0000F4120000&dt=20070622&id=00732383&mp=5

Hems

[etrader]

Read the report released on asx.

Will be interesting to see what regular posters to this site view of this report, I'm at least glad there is something to read pre options been paid up.

I'm don't have an indepth understanding of Gold, but from what i could read on the surface it looks to be positive.

Could this report give a slight life to s/p to get over the level to make options worth converting. ?

[Jess9]

FOR PUBLIC RELEASE
HERITAGE GOLD REPORTS DRILLING RESULTS FROM THE WAIHI DISTRICT, NZ
Heritage Gold today announced the latest results from its Rahu drilling programme in the Coromandel, New Zealand. Results from holes 7 and 8 show encouraging gold grades in hydrothermal breccias.

Today’s results point towards gold mineralisation extending over a total strike length of approximately 1300 metres. Heritage Gold managing director Peter Atkinson says in Hole 8 a 34 metre wide zone of strong gold and silver mineralisation was intersected from 59 to 93 metres down-hole. “Hole 8 into the main geophysical anomaly was designed to pass about 100 metres under hole 2. However the mineralisation was encountered much shallower than anticipated.”

Mr Atkinson said Hole 8 demonstrated the continuity and substantial nature of the mineralised structure. Hole 7 targeted geophysical anomalies, to the east of the main anomaly, with no strong surface indications of gold. However, the hole intersected two zones of strong gold mineralization in hydrothermal breccias. “The results are encouraging and may indicate the existence of a new strongly gold mineralised structure at depth with economic potential. The results have certainly raised our expectations,” Mr Atkinson says.Higher grade feeder veins are expected to occur below the hydrothermal breccias.Mr Atkinson noted that the results from the latest holes confirm the company’s geological model of the mineralised system. “The gold grades in holes 7 and 8 indicate that gold is dispersed in the upper parts of an extensive epithermal system,” he says.

The next step is to look for feeder vein zones that may contain higher gold grades. “Heritage is continuing to drill below the previous holes to identify the geological structure, which means later holes can be targetted more accurately.”

Heritage Gold is drilling ahead 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
About Heritage Gold

-------------------
It looks like we will have to wait further for a resource upgrade, but it is coming and might be bigger that previously thought!!

[etrader]

Would be great to see a analysis of the report from BAP who has a very indepth understanding of the business.

Jess9 apart from the comment about no JORC upgrades what is your view on latest release.

[Woody51]

BAP doesn't seem to be around.

That announcement today is total tripe. I am now totally convinced this crowd have lost the plot. It's so dumb you'd really have to wonder why one would hold the shares.

A while back, I alerted HTM holders to another gold company PRU. Also currently drilling. They also put an announcement out today. Still in trading halt. Even discounting the astronomical grades, compare the difference between it and the pathetic (no grades) HTM notice, released on the same day! No guessing who you'd be rather be in ... And I am in!

http://sa.iguana2.com/cache/c188d0223a0dd0673e55d05203d7d286/ASX-PRU-366305.pdf

[ScrappyO]

You Can see why this company has taken 22yrs to get to where it is now.

[BAPP]

Hi,

Sorry I've not been near a computer for past 24hrs. (etrader you give me too much credit for understanding this company- I only do the research that is available to everyone!)

I've only just read the full report and I quess I'm lost for any inspiration and words.

Looks pretty much like a copy and paste from the previous drilling reports. Almost like someone felt obliged to make an announcement before the warrants date expired, but didn't have anything 'new' to report.

Did anyone else get the same phone call as Hem ?

Anyway I'm off to soccer at the moment, so will have another look afterwards and try and get a 'handle on it'.

Cheers
BP:)

[Jess9]

quote:Originally posted by Woody51



BAP doesn't seem to be around.

That announcement today is total tripe. I am now totally convinced this crowd have lost the plot. It's so dumb you'd really have to wonder why one would hold the shares.

A while back, I alerted HTM holders to another gold company PRU. Also currently drilling. They also put an announcement out today. Still in trading halt. Even discounting the astronomical grades, compare the difference between it and the pathetic (no grades) HTM notice, released on the same day! No guessing who you'd be rather be in ... And I am in!

http://sa.iguana2.com/cache/c188d0223a0dd0673e55d05203d7d286/ASX-PRU-366305.pdf



Woody51 - Looking at that PDF and comparing it to yesterdays HGD announcement is like comparing apples with oranges (IMO). PRU appears to be well advanced into their drill program and this is reflected in its announcement, whereas HGD is in its early stages.

I'm not disagreeing that in the past progress could have been faster. What is important now is that HGD gets from where it is now (at Waihi) to where PRU is, as quickly as possible. This is the challange for the new Board and CEO.

HGD's MD indiates that early drilling continuues to confirm the coy's structure model and indicates that an economic resouce is an increasing possibility. HGD could better communicate this process. I wonder if there is an expectation gap, as holders (after each) announcement seem to think a resource upgrade should have been announced. maybe HGD need to better convey the process/plan that is being underatken that is to deliver this?

To me the announcement is very positive, considering the objective of the program (to target fedder zones and confirm structure model). However, the next drill stages will be where the gold excitment is, depending on how significant "economic" actually is.

Your thoughts?

[etrader]

maybe they're reading these posts and seeing investors disappointment in info from the company so they've posted this hoping for a few more options.

At the extra ordinary meeting in early april they indicated that they've been approached in the past by jv partners, still no info on this.

Would we expect once people converted options a partial dumping of these on the open market, remember quite a few options had been paid up in the past so people might be sittting on paper losses and dump ?

[Jess9]

etrader, why would coverters "dump" when this would realise a loss? Especially as the current price reflects the uncertainty around progress, the warrant conversion, but not HGD's underlying assest value and future potential value.

[etrader]

quote:Originally posted by Jess9

etrader, why would coverters "dump" when this would realise a loss? Especially as the current price reflects the uncertainty around progress, the warrant conversion, but not HGD's underlying assest value and future potential value.

[etrader]

quote:Originally posted by Jess9

etrader, why would coverters "dump" when this would realise a loss? Especially as the current price reflects the uncertainty around progress, the warrant conversion, but not HGD's underlying assest value and future potential value.


I was just meaning the some option holders might have converted quite a while back, and now well in a supressed market, prob did not think about that post very well hadn't had any coffee at that stage of the day :)

[Woody51]

Jess, I read it at the end of a long day and that reflected in my tone, sorry. Guess the point I am making is that the announcements made no sense to me. I don't know if it's positive or negative - one gets no direction at all. The fact that others read it as a negative report - and others as a positive - demonstrates the dilemma.

It's like the announcement you had to have when you didn't have an announcement. Take your point re PRU. But now and in the past, there was never any doubt with them about where things were at and where they were going. It's as if the Heritage people have no news sense.

Anyway, I've decided to put the shares in the bottom draw and see what unfolds - and from now on I'll take whatever they serve up unemotionally haaa. Cheers.

[croesus]

I concur with Woody....... they have no clues....this co is drifting...

[BAPP]

Hi

On a number of occasions we have discussed HGD’s inability to communicate to the market, to provide detail and/ or a satisfactory overview of progress.

This is very evident when you read the ‘posts’ that have been written since yesterday’s announcement. We have uncertainty and it is ‘left up’ to each reader to make an interpretation. (generally we have a different one!)

The announcement is too ‘vague’ for any shareholder, who does not have any specific exploration or mining experience (that’s me). Yet a geologist may 'crasp' it’s significance quite easily.(that’s Mr Atkinson)

As I indicated in my 'quick' post this morning, my initial impression was that this announcement was 'rushed or pushed' through.

Possibly due to market expectations as we had all been anticipating a ‘special’ bit of news to support the share price and to encourage the warrant holders to convert their shares.

Remember the company never promised any ‘special’ news leading up to the warrants. We anticipated it and began to expect it!

As I said earlier, our expectations were high due to the Uranium announcement. The warrant conversion date was set several years ago, so it was always unlikely that the two events would coincide to the benefit of stakeholders or warrant holders. (This may be a different story all together, next september)

This announcement was just a drilling progress report and nothing more!

Keep in mind that this part of the drilling process is to establish where the main feeder veins are located. Then to establish the most economical 'pathway' for further drilling and for planning economical recovery. ( Jess9 has reiterated this on several occasions)

With only 8 test holes drilled this is at very early stages. However to assist our interpretation of progress there should have been an indicative time given for further drilling results with a time line for when new resource levels would likely be confirmed.

(I remember back in May last year that the company indicated they would confirm gold resource levels at Waihi in the first quarter of 2007 leading up to the MEM IPO)

Well that time has definitely passed us by and that’s part of the reason HGD continues to have sceptics.- Neither event happened and more uncertainty!

The only signals to give me confidence from the announcement was Mr Atkinson saying, “the results have certainly raised our expectations” and “HGD is drilling ahead”.

It would be nice if they began to realise some of the shareholders expectations, I hear you say! Yes, believe me, I would like to see the share price doubling and tripling, but that won’t happen until resource levels are confirmed for all projects.

With only 10% of the warrants converted the additional problem HGD now 'face' will the additional funding/working capital required to push ahead with drilling within a time frame that meets market expectations.

I suspect from reports that they have this funding covered, but it's definitely not a satisfactory way to 'win over' shareholders.

It’s all seems simple ‘stuff’ really, but I still believe in the potential of the company and the fact that it now has some influential people at the helm, which should eventually pay ‘dividends’, one hopes.

It’s the presentation and the slow progress that’s at fault by management, however that does not chance the fact their is underlying value and potential.

I just look at the gold projects at Waihi. The exploration permits almost completely surround both the Martha and Favona mines. (That's why there has been talks of JV's)

Not only do they have permits for Karangahake, but also Golden Valley and Waihi North.

The company is testing mineralised targets just north of the Martha mine which suggest there maybe extensions and parallel vein structures. Also at Golden Valley which surrounds the Favona mine they have encountered similar mineralised systems.

The Martha and Favona mines owned by Newmont have provided millions of ounces of gold. So we know the is gold there, the question is the amount

[Woody51]

Haa, length no worries BAP. Very informative, learned some new things. Thanks for taking the time to sooth some nerves ...

The market's going to take a walloping Monday what ever happens ...

[BAPP]

Hi Woody51,

"The market's going to take a walloping Monday what ever happens ..."

Doesn't that just mean that some opportunities are 'cheaper' to acquire?

Cheers
BP:)

[Woody51]

Yes to does BAP. It will be interesting to see how much the Oz market dances to the Wall Street tune. Once there was a time when Wall Street sneezed, we got a cold. More recently, it's often a sniffle.

Depending on how the market does pan out (i.e it goes real bad and I lose my nerve) I have two stocks to buy this week, hopefully on weakness, one a top up the other new. I will then consider adding to my currently modest Heritage Holding if the price comes back further.
If it does a + runner, so be it.

My big 'buzz tomorrow will be with PRU when they are out of the trading halt. Will be very interesting to see what the market makes of those amazing AU intersections, on top of what's been previously announced, and what's promised.

The Eureka Report, which is very well regarded here, has a very interesting article on the resources boom, and suggests the possibility that demand will just keep on and on - sort of the new reality.

It could be that astronomical amounts of money are still to be made on quality mining stocks - and there are plenty around that the hugely undervalued. They see the OX as one.

Anyway, one step at a time. Dreaming of vast riches and early retirement is one way I get through freezing winter Sunday nights! Cheers.

[Jess9]

Hi Woody51, I was also going to say well done on PRU in my last post. Those intersections sounded great. Lets hope HGD also hit those sorts of concentrations when "feeder veins" are located. Have a great $ week!

[Woody51]

Jess, wouldn't that be great - wished I'd been able to buy PRU tho in the truckloads at 5 cents haaa.

[STRAT]

HGD
25/06/2007
MINE

REL: 0842 HRS Heritage Gold NZ Limited

MINE: HGD: Heritage Gold Reports Drilling Results from Waihi District

Heritage Gold today announced the latest results from its Rahu drilling
programme in the Coromandel, New Zealand.

Results from holes 7 and 8 show encouraging gold grades in hydrothermal
breccias. Today's results point towards gold mineralisation extending over a
total strike length of approximately 1300 metres.

Heritage Gold managing director Peter Atkinson says in Hole 8 a 34 metre wide
zone of strong gold and silver mineralisation was intersected from 59 to 93
metres down-hole. "Hole 8 into the main geophysical anomaly was designed to
pass about 100 metres under hole 2. However the mineralisation was
encountered much shallower than anticipated."

Mr Atkinson said Hole 8 demonstrated the continuity and substantial nature of
the mineralised structure.

Hole 7 targeted geophysical anomalies, to the east of the main anomaly, with
no strong surface indications of gold. However, the hole intersected two
zones of strong gold mineralization in hydrothermal breccias. "The results
are encouraging and may indicate the existence of a new strongly gold
mineralised structure at depth with economic potential. The results have
certainly raised our expectations," Mr Atkinson says.

Higher grade feeder veins are expected to occur below the hydrothermal
breccias.

Mr Atkinson noted that the results from the latest holes confirm the
company's geological model of the mineralised system. "The gold grades in
holes 7 and 8 indicate that gold is dispersed in the upper parts of an
extensive epithermal system," he says.

The next step is to look for feeder vein zones that may contain higher gold
grades. "Heritage is continuing to drill below the previous holes to identify
the geological structure, which means later holes can be targetted more
accurately."

Heritage Gold is drilling ahead 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

About Heritage Gold

Heritage listed on the NZX in 1986 and has a current market capitalisation of
approximately $14 million. Heritage is also listed on the ASX and the
National Stock Exchange of Australia. 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 several permits to prospect for gold, silver, copper, and base metals in
Northland, about 150km north of Auckland, New Zealand. Heritage has entered
into a joint venture to explore for uranium in the Dunmarra Basin of the
Northern Territory.
End CA:00149583 For:HGD Type:MINE Time:2007-06-25:08:42:43

[ScrappyO]

Heritage Gold says results encouraging
9:45AM Monday June 25, 2007

Heritage Gold said today that the latest results from its drilling programme in the Coromandel are encouraging.

The company has been drilling in the Rahu Ridge area west of Waihi. The latest holes drilled, Hole Seven and Hole Eight, showed encouraging gold grades and suggested that gold mineralisation extended for 1300m.

"The results are encouraging and may indicate the existence of a new strongly gold mineralised structure at depth with economic potential. The results have certainly raised our expectations," managing director Peter Atkinson said.

He said Hole Eight revealed a 34m wide zone of strong gold and silver mineralisation between 59m and 93m down the hole.

The mineralisation was shallower than anticipated.

Hole Seven tested geophysical anomalies to the east and found no strong surface indications of gold but intersected two zones of strong gold mineralisation in hydrothermal breccias.

Mr Atkinson said the results confirm the company's model of the area.

"The gold grades in Holes Seven and Eight indicate that gold is dispersed in the upper parts of an extensive epithermal system," he said.

The next step is to look for feeder vein zones that may contain higher gold grades.

Heritage is continuing to drill below the previous holes.

The company, which listed on the NZX in 1986, is also listed on the ASX.

- NZPA

Doubling up here but good to see Heritage Gold in the Herald

[underground]

i still believe in the heritage story, but had to hedge my bets as im still a student and needed the cash

i sold into strength, halved my holding - and am now free carried into the stock.

i know it reduces my leverage but my previous exposure didnt suit my risk profile considering the opportunity cost was too high.

i personally think that a substantial re-rating will be dependant on either an increased JORC gold resource or a uranium development.

this company seems to only have the resources to do one thing at a time and they seem to be placing emphasis on evaluating their existing gold projects.. this requires multiple assays sent to labs and long lead times. so i dont see much leverage to be gained in the short run.

however long run prospects still look bright and im still in to win.

BAP: good on you for sticking your neck out there. but i hope you have a thoroughly balanced stock portfolio.

i dont have much faith in peter and i get the feeling he wants to cash out. Broken Hill looks very prospective but it seems like its not a real priority for the firm in the short run.

my two cents worth

[tim23]

On the Pike River forum Big Bob is trying to tell me that its cheaper/better to convert a warrant and pay NZ6.3c than to buy shares on the ASX @ 5.1c (or approx NZ5.8c). Can someone point out the logic in that?

[BigBob]

tim23 - on Friday the close on the NZX was 6.6 cents (not 6.5c as I said in my e-mail)... I'm intending to convert a few 100k of warrants at the price of 6.3c... that is less than 6.6c + brokerage...
Currently I could get them at A5.3c on ASX - probably close to NZ6.3c if you include brokerage... but I have no intention of buying HTM.... over and out..!

[croesus]

Announcement re Uranium, but not sure what it means

[tim23]

Good for you but you must have a very expensive broker!

[whatsup]

Tim its a volumn thing if you convert the warrants that you hold you are assured of the volumn if you dont you could finish up chasing the volumn/ price of the heads!!!

[BAPP]

HGD
25/06/2007
JOINTV

REL: 1654 HRS Heritage Gold NZ Limited

JOINTV: HGD: Tenement Applications and Warrant Conversion

Uranium Areas Proposed for Grant

Heritage Gold is pleased to announce that proposals for grant of the three
exploration licence applications in the Dunmarra Basin joint venture (JV) in
the Northern Territory have been received.

In March 2007, Heritage Gold announced its intention to explore for uranium
in the Dunmarra Basis. The joint venture areas cover approximately 1,250
square kilometres.

Heritage has the right to earn a 50% interest in the property by the
expenditure of A$2.0 million over three years and may increase its equity to
75% by spending a further A$2.0 million within an additional two years, if
the other JV party decides not to contribute.

Heritage Gold managing director Peter Atkinson says: "The applications have
now been advertised to seek any objections, a process that will take
approximately three months".

The JV partners are finalising a r
econnaissance exploration programme, with
sampling of radiometric anomalies, due to commence in July.

There are three uranium bearing areas known along the edge of the Dunmarra
Basin. They are the Pine Creek Inlier, Tennant Creek Block, and McArthur
Basin.

"These have good source potential for uranium that may have been eroded and
re-deposited in sandstone, siltstone and shale beds in the basin", Mr
Atkinson says.

Base Metals & Gold Application

Heritage Gold has expanded its exploration initiative in the Northland region
of New Zealand. The company has applied for the Waikare prospecting permit,
which adjoins its Hikurangi prospecting permit application, and is about
160km north of Auckland.

The new application surrounds the Puhipuhi epithermal gold prospect and
contains several identified gold, silver and antimony prospects in favourable
geological settings.

"A newly completed study of the mineral resource potential of Northland by a
consortium of District Councils in Northland
and its regional economic
development group, along with a study of its potential economic benefits, has
added impetus to our decision to expand our interests in Northland", Mr
Atkinson says.

Heritage Gold has selected areas with potential to host epithermal gold -
silver, porphyry copper - gold, and volcanogenic massive sulphide base metal
deposits.

Warrants Underwriting

The Company has not secured underwriting for conversion of the warrants that
expire at 5pm (New Zealand time) on 27 June 2007.

For further information please contact:

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

[tim23]

Whatsup - there seems plenty of volume on the ASX between 5c and 5.3c over 400k today - unless you are talking millions and I got the impression it was a couple of hundred thousand so do the maths!

[BAPP]

I would suggest the following segments are the key points to 'digest' from the above announcement made this afternoon:

I would be interested to hear your thoughts!

Cheers
BP .:)

Uranium Areas Proposed for Grant

Heritage Gold managing director Peter Atkinson says: "The applications have now been advertised to seek any objections, a process that will take approximately three months".

The JV partners are finalising a reconnaissance exploration programme, with sampling of radiometric anomalies, due to commence in July.

There are three uranium bearing areas known along the edge of the Dunmarra Basin. They are the Pine Creek Inlier, Tennant Creek Block, and McArthur Basin.

Base Metals & Gold Application

Heritage Gold has expanded its exploration initiative in the Northland region of New Zealand. The company has applied for the Waikare prospecting permit, which adjoins its Hikurangi prospecting permit application, and is about 160km north of Auckland.

Warrants Underwriting

The Company has not secured underwriting for conversion of the warrants that expire at 5pm (New Zealand time) on 27 June 2007

[etrader]

On the face of that release it's proabably the best release since the original uranium release.

It's a positive ann on two fronts one they're pushing forward in northland which is been encouraged, i think from memory they're one of the earliest entrants into that region.

Secondly we can be prepared to wait 3 months to see if there are objections to there application.

Has not made any difference in oz as they're still open but a little more volume than recent.

[Jess9]

ASX down though, wonder if there will be a spark tomorrow. After all The U was mentioned and is progressing :)

[ScrappyO]

quote:Originally posted by Jess9

ASX down though, wonder if there will be a spark tomorrow. After all The U was mentioned and is progressing :)


Still 3 Months to wait for full confirmation on Uranium Exploration.
So IMO if we dont see any ann regarding cobalt or a bit more hard evidence on the gold resources things will stay as.

Three more months.

Bottom draw im thinking, for a while yet anyway.

[BAPP]

It's good to see HGD 'starting' to be more forthcoming and proactive with news and announcements that provide some future outlook. (maybe Peter has been reading this thread)

I'd really like to see some news on the Broken Hill cobalt project, but at least yesterday's announcement and today's Herald article are a start.

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10447902

Long term investment with huge rewards at the end IMO

Cheers
BP:)

[moimoi]

interestingly i got a phonecall last night from some young filly as to whether i was going to convert my warrants...when i suggested that one would have to be utterly mad to do so...she politely replied "well i can pass your comments onto senior management if you wish"

don't waste your breath honey!!.

The 1st page of this thread should hold very interesting reading for the vocal types who have recently bought in.

It is an abject lesson in the dead end nature of this company. (your discussing the same "possibilities/potential" that were being discussed in 04)

cheers
Moi.

[Paddie]

Agree Moi,

Holders really should be looking at what it has cost them in lost opportunities, while they have been holding this share.

To keep saying "in a few months" has there heads in the sand.

Cut losses and put your money into something going somewhere now.

Paddie

[Rik]

quote:
Cut losses and put your money into something going somewhere now.

HGD are going somewhere now, their direction is very clear!

HGD is definately not a share that will be doubling any time soon but as a med-long term investment the returns will be hard to beat!

Anouncements are all positive, the patient shareholders will be the winners on the day.

Rik

[rev]

quote:[i]Originally posted by Rik

HGD is definately not a share that will be doubling any time soon but as a med-long term investment the returns will be hard to beat!

Rik



Well it almost tripled from my dabble at ~3.8c in early Jan this year, fallen back even quicker...mildly exciting all the same.

[Paddie]

quote:Originally posted by Rik


quote:
Cut losses and put your money into something going somewhere now.

HGD are going somewhere now, their direction is very clear!

HGD is definately not a share that will be doubling any time soon but as a med-long term investment the returns will be hard to beat!

Anouncements are all positive, the patient shareholders will be the winners on the day.

Rik



Rik,

If they are going somewhere now, "why are they a share that will not be doubling soon"

Paddie

[corran]

quote:Originally posted by Paddie



Holders really should be looking at what it has cost them in lost opportunities, while they have been holding this share.



hasn't cost me too much at all..... accumulated towards the end of last year and start of this year at average cost of 4c. Sold half at about 9c. It's been slipping since then but even so am sitting on an OK paper profit.

HGD has been disapointing recently but I have respect for some of the board and am very bullish on the outlook for gold, cobalt & uranium so, for me, HGD is a something I'm prepared to hang on to as a speculative punt.

[BAPP]

Without trying to change the subject too much, I'd just like to congratulate Woody51 on his purchase(pick) of Perseus Mining. Hope you're celebrating tonight! (how many millions was that Woody51-?haha)

Woody correct me if I'm wrong, but from memory 18 months ago, PRU's share price was around 10-12 cents when they had just started their exploration and test drills.

Now $1.15 - 18 months later- not too bad.

Would be about the same time I purchased my first parcel of SMM shares. I was always annoyed with myself for not going with my 'gut' feeling and buying in at 10 cents also.
(there's nothing like hindsight, but if you want the big rewards you have to take big risks-
I know, risk management is a big part of my everyday job!)

Back to HGD, I think there will be more news to come over the next 3 months, but remember only risk as much as you can afford to lose.

6.8 cents today, who knows what the price will be in 6/12 or 18 months time?

Cheers
BP:)

PS: I think the saying goes:- some people will remark that the glass is 'half empty' while others would also suggest it is 'half full'! Seems to be the same when we talk about HGD!

[Rik]

[quote] If they are going somewhere now, "why are they a share that will not be doubling soon" [quote]

I wish it were that easy but not everything happens overnight.

Rik

[Woody51]

Thanks BAP. Yeah it's good to see them zoom up and back again haaa. Got in the ops at 50c - so doubled my money thus far. Holding these. Don't have bucket loads. My favourite stock has also been doing a big runner, so it's been a great week so far. Not always this good haaa. HTM (HGD) were quite active on the ASX today and closed up 0.03c. The buyers are meeting the sellers. Hmmm, interesting.

Notice it was colder in most NZ cities than here today - and boy is it cold here. Keep warm team ...

[BAPP]

Hi Woody51,

A positive announcement regarding Broken Hill might be just enough to get some market confidence while we have a 3 month wait for the Uranium Licence in Dunmarra Basin to be granted. (which IMO should be a foregone conclusion).

If you check out the licences that have been applied for and granted in the NT it would be hard to understand HGD's application not being accepted. IMO, HGD have 3 prime areas and it seems from the recent announcement that the exploration program has already been planned, well in advance.

While I say this I am surprised that HGD have not applied for more permits over a larger area.(maybe that's why Peter is the geologist!)

Yes, it is interesting to see the buyers meeting the sellers on the ASX today. It will also be interesting to see how the rest of the week 'pans out'.

To be honest it is not a worry for me, as I've said before, I'm in for the longer term. Have a plan and 'stick' to it.(IMO)

Talk to you soon!

Cheers
BP:)

[whatsup]

Price inching up ,timing perfect for those wanting guidence on the warrants pay up that has its last day today 3.00pm

[croesus]

No its 5pm. acc no for Link is 06 0837 0151 900 04 and fax the Notification Form
cheers. C.

[etrader]

One of the highest levels of volume in 3 months, not huge by any scale but at least more being traded.

[Rik]

quote:Originally posted by etrader

One of the highest levels of volume in 3 months, not huge by any scale but at least more being traded.


Its good to see!
Let see if it keeps up tomorow.

[etrader]

Annual report just released for 31st march 07.

note in the pdf on page 6 "work is currently underway on the parameters for a stock exchange listing for "BHCL" which is the first time in 2 or so years they've indicated this to the market, some years back there was a possibility of this happening.

But although brief it's good to see this located in the report as BAP has mentioned before the potential value for HGD based on earlier reports x the current value of cobalt - the extraction cost could give a hidden upside to HGD, Yes we'll be patient on news of that, would be good to see HGD holders given an allocation in an ipo and slighly dilute the value of head hgd vs free allocation in BHCL.

[whatsup]

Etrader what does BHCL stand for, how would s/holders put pressure on the directors of HGD to give inspecies issue to s/holders?

[etrader]

quote:Originally posted by whatsup

Etrader what does BHCL stand for, how would s/holders put pressure on the directors of HGD to give inspecies issue to s/holders?


Broken Hill Cobalt Limited which is 33% owned by hgd and 66% by Mr Hill our Chairman of hgd, this has been on the cards before but due to a deal where conditions were'nt meet it never happened.

No info apart from that quick line in the report is available, but that could be raised at the annual meeting in august.

[Rik]

Has anyone else noticed small parcells of shares being sold in the afternoon discount? I so often see it when I check on HGD using findata.

Or am I going crazy?

www.findata.co.nz/Markets/Quote.aspx?e=NZX&s=HGD

[Rik]

That must be only $100 worth of shares sold, usualy I see them sold below maket value!

[jonny5]

By god you've caught me. My hostile takeover attempt is foiled.

Odd indeed. Anyone shed some light?

[BAPP]

For those who haven't yet received their copy.

http://www.heritagegold.co.nz/PDF/AnRep2007.pdf

Interesting reading on a few pages! etrader has alerted us to one point regarding BHCL, but I think pages 3 through to 7 provide some confidence for the future.

Cheers
BP:)

PS:check out page 15 & 16 also with shareholding info and directors interests.

[corran]

quote:Originally posted by BAP



PS:check out page 15 & 16 also with shareholding info and directors interests.


Hi BAP,

I'm curious as to why Warwick Grigor is not listed in the 'Director's Information' table on page 15. As far as I know he received 3,000,000 options when he joined the HGD board.

Perhaps he doesn't need to disclose as he's an independent director?

Congratulations on breaking into the top ten of shareholders ! :)

[BAPP]

Hi corran,

Remember this Annual report is for the period up to March 2007.

Warwick Grigor became a director in April.

Also it is likely his shares will be listed under Gregorach Pty or possibly another holding co.

Cheers
BP:)

[corran]

quote:Originally posted by BAP



Remember this Annual report is for the period up to March 2007.




ah, of course... thanks. Silly mistake - guess you make those when you've got a 2 week old baby and aren't sleeping much :-)

[BAPP]

Hi corran,

Unfortunately children seem to have that affect on parents even when they are teenagers.( It's just a different reason you get 'sleepless' nights at that age.) Good luck!

Cheers
BP:)

PS: I don't expect to be in the top 10 once we see who has coverted their warrants.:)

[etrader]

Bap do u know how long it will be before they ann how many shares got converted, from last count 1.8 mill shares had been converted i think out of a total of 20 mill

[Rik]

Does any one know what volumes of shares were traded at the end of today, the one at 6.5cents & one at 6.4 ?

[BAPP]

Hi etrader,

Don't know if you 'caught up' with this at the end of the day.

Cheers
BP :)

PS: Rik, HGD trades on NZX today were (70k/6.4c) & (50K/6.5c)

REL: 1715 HRS Heritage Gold NZ Limited

ALLOT: HGD: Heritage Gold Converts Final Warrants

Heritage Gold is pleased to announce that a further 3,563,129 warrants have
been converted to ordinary fully paid shares, following a payment by
investors of NZ6.3 cents per warrant for a total of NZ$224,477.13.

This follows last week's announcement that 1,804,859 warrants ($113,706) were
converted to ordinary shares on 22 June 2007.

The remaining 16,858,608 warrants on issue that investors could have
converted to fully paid shares expired at 5pm New Zealand time on Wednesday
27 June 2007.

Heritage Gold managing director Peter Atkinson says Heritage Gold investors
were first issued the warrants in June 2002. "In order to maintain their
investment, each warrant holder paid a further NZ1 cent per warrant in June
2003 resulting in 22,662,680 of the original 36,726,287 warrants remaining on
issue. 436,084 warrants were subsequently converted in the period between
June 2003 and 22 June 2007".

Heritage Gold now has 213,552,905 fully paid ordinary shares on issue.

For further information please contact:

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

[Jess9]

quote:Originally posted by Rik

Does any one know what volumes of shares were traded at the end of today, the one at 6.5cents & one at 6.4 ?




I think it was a xtrade of 50k and then one on market at 70K toward day end.

[Jess9]

Looking over the annual report, in particular Broken Hill Cobolt Limited. I wonder if "work is currently underway to establish parameters for a xchange listing of BHCL" means we might see some sort of share/rights distribution (to holders) of HGD's 1/3 interest.

A supporting BHCL IPO would also be very well timed. There is significant interest in all resource IPO's now, even more so where the IPO already has a resource to develope and sell! This could provide an excelent AUS $ value per share for BCHL. This might provide a very pleasant surprise for HGD holders, as the value of BHCL is not currently reflected in the current share price - due to lack of knowledge. This could well be about to change i.e. via the process required for a listing/IPO - and in particular, shortly after stated by a on market share price for BCHL shares!

It is now less than 3 months for the Uranium permits to most likely be granted. What have other U explorers done on granting of permits? One would at least expect re-kindled interest as this unfolds - as more announcements start to pump out, which focus on U plans and action. And of co**** later following drill results, which could also provide anticipitation spikes - which traders will love as interest is pushed to extremes!

Finally, I think the focus on JV signup for Waihi in the second half of 2007 is quietly exciting. The preference to partner with a known producer is spot on. While it will advance developement (on several levels) considerable, it will also provide some needed "credibility" for this particular project area . I'm thinking the key to getting better terms (for HGD holders) will be how well the board can leverage a deal of HGD's intellectual property of the permit areas and in particular its structural model of the located anomolies. If this can demonstrate significant resource and where etc. Then we may get a very good deal. Remember I think it was said that the drilling to date has continued to confirm the model - be nice to know if this is modeling another Martha pit!! Newmont would be crazy to let it go to another coy - considering synegies from their existing presence in Waihi.

Then on a board level, we have the addition of Warwick Grigor. He has a noteworthy rep. and both a direct and related (through is investor recommendations for HGD) financial interest in HGD doing well, going forward. Linked to this, a new CEO shortly to be formally announced, which could provide a powerful (board/management) "action" combination.

Summarised in terms of share price then, and IMO - I see 15 to 20c per share of value within next 6 to 12 months. After which we will need to reassess whether HGD/BCHL etc is going to jump to the next level or sit. Now that's a decision I don't mind pondering ; )

Happy weekend all.

[whatsup]

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

[ScrappyO]

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

[BAPP]

Hi Jess9,

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

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

Cheers
BP:)

[Jess9]

Opened up 19% on ASX, on 205K.

[etrader]

quote:Originally posted by Jess9

Opened up 19% on ASX, on 205K.


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

[Rik]

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

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

[stephens.pc]

25000 at 12:38pm

[Jess9]

quote:Originally posted by whatsup

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


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

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

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

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

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

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

Anyway, thats my thoughts.

[BAPP]

Nicely summed up jess9.

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

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

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

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

Cheers
BP:)

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

[whatsup]

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

[whatsup]

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

[Woody51]

I don't think funding is an issue at the moment - plenty of heavy hitters came on board from Oz in the last placement and don't think a modest raising would be a problem again, if it was required.

What I'll be interested in is (1) the experience of the MD and (2) if he/she takes a chunk of their remmuneration in 2 year incentive options. That would be a great sign.

I really think it's a case now of " if you like the product load up". At these prices - and with an ounce of luck - these are the stocks that can make you rich.

[BAPP]

IMO both Mr Hill & Mr Grigor have the 'know how' and a network of associates that would easily provide access to funding if required. A good MD/CEO will be well aware of this right from the start.

The important factor is the employment terms that are agreed upon. There must be incentives that entice the selected candidate to develop these prospects further and ultimately create shareholder wealth.

If he/she does their job properly they will have no problem finding funding and the market will follow.

Maybe a geologist is not the best person to grow the company further and I think management realises this point. (I think Peter realises this also and has acknowledged that the company needs some 'new blood', so to speak)

Cheers
BP:)

[Jess9]

Hi Whatsup. I see your point, but such a situation would benefit no one. At the end of the day the new Board wants progress, and will work to facilitate success.

There is no question that there will be real operational challanges to taking HGD forward, however, this is part in parcel of the role (of MD/CEO). I think the right appointment is crucial to HGD's growth going forward. I also think that having a new board, and in particular, involvement of Warwick Grigor in this selection process, is likely to result in the right choice being made. Lets see what unfolds...

BAP - hoping to hear of a CEO/MD placement before the Quarterly, however, more detail through that report would be welcomed also. Lets hope an announcement occurs soon, as there is work to be done, and shareholder wealth to be realised!

[Jess9]

quote:Originally posted by Woody51


I don't think funding is an issue at the moment - plenty of heavy hitters came on board from Oz in the last placement and don't think a modest raising would be a problem again, if it was required.

What I'll be interested in is (1) the experience of the MD and (2) if he/she takes a chunk of their remmuneration in 2 year incentive options. That would be a great sign.

I really think it's a case now of " if you like the product load up". At these prices - and with an ounce of luck - these are the stocks that can make you rich.


Spot on Woody51 ; )

[steve fleming]

Heritage gets a mention in the business gossip section of the SMH:)


http://www.smh.com.au/news/cbd/director-was-lonely-as-a-cloud/2007/07/01/1183228960008.html?page=2

Sangster in company

Socialite Lady (Susan) Renouf has popped up in all sorts of places before - but company secretary of a Kiwi gold explorer?

Before becoming Lady Renouf in the '80s when she married the late Kiwi tycoon Sir Frank, the Toorak resident and grand dame divorcee was known as Susan Sangster after her union with racing tycoon Robert Sangster.

So we were rightly shocked when Susan Sangster recently popped up on a disclosure notice for Heritage Gold.

But it turns out Susan Lee Sangster is a "respectably married mother of several children" who lives in Auckland and is not linked in any way with Lady Renouf. "I followed the other Sangster's exploits with interest [but] although I am an Australian ... I never made the connection," Heritage's chief miner, Peter Atkinson admitted. "[Mrs Sangster] is a good honest Kiwi."

But he joked he would consider hiring Lady Renouf as a fine covergirl for a Heritage Gold annual report.

[Jess9]

ASX looks interesting, bids just higher than sells on NZX this morning. AUS confidence growing quicker than NZ? Funny, NZX is usually more optimistic.

[whatsup]

Be very interesting to see if the s/hs who didnt frunt up to the warrants try to buy under priced at the Kiwi of .063, so far very small trades when compared to the shortfall of warrants ,could be (wishfull thinking) a short squeeze here!!

[BAPP]

Share price is basically back to where it was this time last year, (not a great sign) and unfortunately it looks like heading further south unless we get some news to 'sway' the current market sentiment.

I'll be looking for some indication of the 'outlook' and who the new MD will be, in the next quarterly report due out this month

For anyone who believes the company has potential this must be a great time to buy.(The big question is, how long are you prepared to wait!)

If you think the company can realise the potential of their main resources then the current price will look attractive.(IMO)

If resource upgrades are confirmed as economically viable, on any one(or all) of their projects, you could well be pleased with your decision to buy. (However you will probably need a bit of time, patience and luck to reap the rewards I'm looking for.)

If you don't have either and are looking for a quick return, don't even think about HGD.

For the long term investment it won’t matter whether you ‘got in’ at 5 cents or 10 cents
if you can afford to hold for 6-12 months you will hopefully be repaid many times over IMO.

Cheers
BP:)

[Rik]

BAP,

I always seem to feel positive after reading your posts!

[BAPP]

Thanks Rik,

We all know there are no guarantee in the investment business, so I 'Just try to tell it like it should be told.' (My research, my opinion, my 'gut' feeling) It's never let me down before!

I hope all 'us' faithful HGD shareholders make a fortune some day.(in the not to distant future that is!).

Cheers
BP :)

[Jess9]

Ticking up on ASX. last trade at 6.7c (in NZ dollars - or cents : )

[BAPP]

This may interest a few readers who have asked about processing costs and the resource levels required for economic viability.

http://www.sharechat.co.nz/news/scnews/article.php/46ce11e6

IMO the following paragraphs are of particular interest:
---------------------------------------------------------------
The mine was expected to produce about 50,000 ounces of gold in 2007 at a cash cost of $US406 ($NZ525) per ounce then 82,000 ounces in 2008 at a cash cost of $US252 per ounce, OceanaGold said yesterday.

Based on current reserves, the Reefton project was expected to recover about 455,000 ounces of gold over seven years."
--------------------------------------------------------------------
While I'm sure there will always be different circumstances and scenarios for any project this probably gives us a broad indication of where HGD needs to be. Depending on your viewpoint you could also say that they are 'halfway' there at Waihi!

Good to see a nice 'bounce' in the share price on the ASX today.

It looked like 'someone' decided they needed to be in,- today! It will be interesting to see if the price can continue to hold up over the next few weeks, as there seems to be a ‘bit’ of support at current levels.

Cheers
BP:)

[corporateraider]

BAP

At $8.8k traded it was not one of the world's biggest punters getting in!

[BAPP]

Hi corporateraider,

You're right on that one, but at least there was a trade on 'that side' of the Tasman.
(I quess it's not the start of takeover bid-haha)

Cheers
BP:)

[Rik]

Wow $120 traded today!!!

[etrader]

quote:Originally posted by Rik

Wow $120 traded today!!!

Make that $3k now Wow nearly a 300% increase in volume since first trade with stock up 8%

[Rik]

Yes a very good ending to the day!

[BAPP]

6.5 cents today-are we in for a break out?[}:)]

The top 20 shareholder list has been updated on the HGD website, not much change from memory but 2 or 3 additions. (all from the warrant conversion I suspect)

http://www.heritagegold.co.nz/text/invest_info.html

Patience is a virtue!

Cheers
BP:)

[STRAT]

quote:Originally posted by BAP


if you can afford to hold for 6-12 months you will hopefully be repaid many times over IMO.

Cheers
BP:)
Hi BAP, Where do you expect Heritage to be In 6 months. I am quietly confident they will be not far from where they are now [V]

[etrader]

First time for a while we've seen sellers above .07c with only one small seller under that, hoping for current holders that the volume of people wanting to dump at buy prices drys up a little and we see small incrimental moves up to early .07c range.

One has to be patient and wait[|)]

[BAPP]

Hi Strat,

I wish I had a crystal ball!

You could be right and HGD may not be any further ‘a head’ in 6 months time.
(however, you could just as easily be wrong!)

I have to admit that I was disappointed that the Directors didn’t manage to keep some ‘momentum going’ with their news and activities after the Uranium announcement back in April.

However that said, I am ‘reasonably’ confident that there will be progress in their 3 main exploration areas (Broken Hill, Karangahake and Dunmarra) by the end of 2007.

As for time frames and share price!

Well I hope to be encouraged by a 'much' improved share price by the end of the 2007 and 'very' happy and semi retired by the end of 2008.

The underlying potential, the known resources and permit applications have not changed since the Uranium announcement, so for me it’s a matter of being patient and not getting ‘side tracked’ at this stage.

The main shareholders held their shares through the ‘spike’ in share price, so that indicates(to me anyway!) that they see further potential and 'a lot more' value to realised.

Both Mr Grigor and Mr Hill, have significant reputations and why would they risk their reputations and their money unless they were certain of a positive outcome?

Again, I believe that the potential is ‘huge’ and if we get some ‘real evidence’ of resource levels and an ‘IPO’ at Broken Hill Cobalt along with a ‘JV’ at Karangahake to coincide with the Dunmarra permits being granted we should be looking at a bright future and a share price that could well climb towards the $1.00 mark or even higher.(IMO)

Of course, at present there are no ‘factual’ signs of this actually happening anytime soon and many sceptics will tell us they’ve heard this before.

Well that’s the risk I (and others) have to take!

The HGD management has presented these initiatives and ideas(IPO & JV) in the latest report and the introduction of a new MD may be just the ‘tonic’ the company needs to progress these further.

There may even be a few indicators in the quarterly report and leading up to the AGM.

Cheers
BP:):):)

[whatsup]

It looks as though that all the warrant holders who didnt subscribe ( and that is 2/3 of them )to the warrants are now out of the money in NZ so that if they wish to now have some more HGE they will now have to chase the head share price & could eventually pay alot more that the .063 per share than they were last week!

[croesus]

Won't have to chase to hard ....selling for 6,2c..........

[whatsup]

On very very slim volumn , some of the warrant holders had entitlements to millions of shares/warrants.

[croesus]

Yes thats true........and no doubt feeling a bit pissed of, at how they were hung out to dry by management.......

[whatsup]

The management could only publish the facts, little as they were , creditibility is every thing , spin and BS is seen for what it is--crap, ones reputation is everything especially on the sporting board (mining)

[etrader]

SSH enquiry in, sounds a bit of a mystery firm wonder why hgd wanted to know more about them.

[STRAT]

LOL. Best of luck anyone trying to track these guys down

[STRAT]

HGD
11/07/2007
SSH

REL: 1704 HRS Heritage Gold NZ Limited

SSH: HGD: Substantial Shareholder information

Heritage Gold (NZX:HGD) advises that, at the request of NZX under Listing
Rule 10.9 and pursuant to HGD's powers under the Securities Markets Act 1988,
HGD wrote to Bestfield
Company ("Bestfield"), a party that has previously advised the market that it
is a substantial shareholder in HGD. HGD requested certain information from
Bestfield in order to assist HGD in ascertaining who is, or may be, a
substantial shareholder in HGD.

HGD requested,
and Bestfield has provided, the following information:
- Copy of its Certificate of Incorporation.

Bestfield provided: Copy Certificate of Incorporation, confirming that
Bestfield was incorporated in Liberia 21 April 1986. Bestfield has advised
that such incorporation is current and remains valid.

- Address of its principal office or principal place of business since 9
October 2003.
Bestfield advised: Principal place of business 9 October 2003 to 18 February
2004
12/F, China Merchants Tower
Shun Tak Centre
168-200 Connaught Road Central
Hong Kong

Current principal place of business:
23rd Floor, Tung Hip Commercial Building
244 Des Voeux Road Central
Hong Kong

- Location of the current registered office of Bestfield.
Bestfield advised: 80 Broad Street, Monrovia, Liberia.
REGISTERED (HEAD) OFFICE
541 Parnell Road, Parnell, Auckland, New Zealand
Phone: (+64 9) 303-1893 o Fax: (+64 9) 303-1612
Email: office@heritagegold.co.nz
Incorporated in New Zealand ABN 009 474 702

- All shareholders and other beneficial owners since 9 October 2003.

Bestfield advised: The following details of Shareholders
Date; Name of Shareholder; Address; No. of Shares
9 October; 2003; Fanlau Limited Sea Meadow House, Blackburne
Highway, Road Town, Tortola, British Virgin Islands; 100 shares
(shares transferred on 7 February 2007)
Current; Leadership Investments Limited; 46 Micoud Street, P O Box 1209,
Castries, St. Lucia, West Indies; 100 shares

- All directors during the period since 9 October 2003.

Bestfield advised: The following details of Directors
Date; Name of Director; Address
9 October; 2003;Chapway Ltd Sea; Meadow House, Blackburne Highway, Road Town,
Tortola, British Virgin Islands (resigned on 8 February 2007)

Current; Leadership Investments Limited; 46 Micoud Street, P O Box 1209,
Castries, St. Lucia, West Indies (appointed on 8 February 2007)

For further information please contact:
Peter Atkinson
Managing Director
Heritage Gold

[whatsup]

Bestfield I think owns approx 5% of the co.

[BAPP]

This might help!
http://www.heritagegold.co.nz/text/invest_info.html

Bestfield must have crept over the 5% threshold for notification to NZX.?

NB: They hold around 1.4 milion options also.

Cheers
BP:)

[STRAT]

The paper trail goes all over the world. Whats more the ASX ann is different to the NZX one as the Parnel address in the middle of the NZX announcement is not on the ASX ann and is the address of Heritage not the said shareholder

[whatsup]

If only it was a enquiry about a shareholder that owner 50% of the shares.

[Woody51]

The question is, would you buy a used car off them?

[BAPP]

A couple of the top shareholders in HGD seem to 'pop up' together as major shareholders in other exploration and mining company's.

I believe Mr Hill is a Director of HFT Nominees and PCP Securities and both have common stakeholding with Bestfields and Pacific Gold Resources from memory. ( I posted this connection a couple of months back)

Mr Hill is based in Hong Kong, so IMO it wouldn't be surprising if there was a connection. He does have a lot of connections in the Asian financial 'scene'. Check out his Directorships listed in the Annual Report.

I thought this was an interesting article from The Australian:
http://www.theaustralian.news.com.au/story/0,20867,22053163-643,00.html

Cheers
BP:)

[ScrappyO]

It looks like the directors are getting their other interests into HGD and to get as much exposer as possible.

Looks like a good thing

Could be an interesting meeting next month.

[Yme]

Hi all,

i originaly became interested in HTM after reading the U report by Grigor and then found this thread discussing in ground resource of 30 bill+ and the cobalt

i'm still learning FA and have spent a few years learning TA,,so i need to thank you all and the long term posters for this thread.

$30 bill + with around 210 mill shares + cobalt + U = a very undervalued company at 5c [8]

the chart is looking to complete the secodary reaction at the mo,,,the primary went too fast over a short period of time pointing towards a much longer period of time in the secondary.

price has been supported in this area of the 61.8% return and also 1.618 of the primary time component,so i think the secondary is completing and the bulls should to start another rally soon.

when i knew even less than what i know now i was told about CMR having a big resource(abt 50% of HTM's) in ground at 20-30c the mistake i made with that investment was reducing my holding in the rally to 5 bucks +

i won't be making the same mistake here,,,i now understand this is quite clearly a buying time and not even close to a selling time,

top 20 holding over 50% script of heads and larger again in oppy's
seems to me the only thing left is the waiting and then buying more[^]
you won't see me in the top 20 though but i'm still happy at my level

i've collected both heads and oppy's,,,oppy's should come into the money very fast for mine so i've been happy paying out of the money for them,,, now waiting for the ebb n flow to start buying again,,,espesh when the primary high is taken out;)

BAP,,,surely this one is a buy all the way up to $1[?],,,,and thanks to Jess9 and many other posters here in this thread which i check more often than the sp.

i don't mind the lack of PR ,,,infact i hope they stay quiet and start the PR generator up much higher in sp[8D][8D][8D]

warm regards
Yme
[^][^][^]

[BAPP]

Good to see you joining the discussion Yme!

The following link should provide readers with an overview of the background of Mr Geoff Hill the 'chairman' and 'largest shareholder' in HGD.

http://www.pittcapitalpartners.com.au/index.html

I recommend you look at all the page links!

Cheers
BP:)

[Hems]

If Heritage Gold are not going to list on the nzx, what does that mean for NZ share holders? Sorry for asking if it is a silly question.

Hems:)

[U-rain-e-um]

quote:Originally posted by Hems

If Heritage Gold are not going to list on the nzx, what does that mean for NZ share holders? Sorry for asking if it is a silly question.

Hems:)


Hi Hems,
Dont panic. Its one of the Auzzie stock exchanges(NSX). Good move I say at least they will save money. Id say it would cost a fair wack P.A. No need to be on three exchanges

[etrader]

BAP:

Below are what are deemed common shareholders with Peter and Geoff Hill, Mr hill controling So Co Ltd and related to PCP, Peter with his private holding and controling most of Prophecy mining, it means these two on the board hold around 20% of the firm.

My Question is do they not know who "bestfield" are or are they just trying to clarify details about bestfield.

Would appreciate your view or other investors to see if there is a link with bestfield and the current board.

So Co Ltd 20,000,000 9.37
Peter R Atkinson 10,901,950 5.11
PCP Securities Ltd 5,590,100 2.62
Prophecy Mining Ltd 5,300,000 2.48

[Hems]

Thanks u-rain-e-um

[BAPP]

Hi Hems,

Heritage are delisting from the National Stock Exchange in Australia. This is to save on compliance costs etc.. and is a good move by the company.

Hi etrader,

Sorry I didn't find anything of interest regarding Bestfield.

IMO the general announcement yesterday was to clarify details about Bestfield HQ, however it may be worthwhile contacting HGD for clarification.

It was probably a simple matter of HGD providing updated details to meet NZX regulations with Bestfield being a "significant"(5%) shareholder.

As I noted there has been common shareholdings by Bestfield and other HGD (top 10) shareholders in the past. (a quick google search can confirm this), so I would be surprised if management was unaware of them.

Adding to your shareholding list, I also believe that Mr Hill is a Director of another company(s) with interests in HGD.

HFT Nominees Ltd which holds approx 6 million shares.

Also I assume PCP stands for Pitt Capital Partners-see my previous post for links, so does anyone want to have quess at HFT ?

Cheers
BP:)

[croesus]

Have purchased more Heads today..... have heard some Chinese whispers emanating from Sydney........should be some news for the market by Thur 19th. probably about 11am our time.
cheers Croesus

fair warning !! whilst I have put my hand up this morning and last week, I am not for a moment suggesting anybody else buys shares, do your own research and then you have no one to ***** about, if you don't buy and the price surges. or the opposite.

[etrader]

quote:Originally posted by croesus


Have purchased more Heads today..... have heard some Chinese whispers emanating from Sydney........should be some news for the market by Thur 19th. probably about 11am our time.
cheers Croesus

fair warning !! whilst I have put my hand up this morning and last week, I am not for a moment suggesting anybody else buys shares, do your own research and then you have no one to ***** about, if you don't buy and the price surges. or the opposite.


Good to see you've put your faith behind and bought, hope it comes and delivers you a profit, yes always the odd rumour, if you're on the mark you have better info than i hold.

[BAPP]

Hi croesus

Good buying in my opinion and I like the look of the 2008 options!

Personally I think the next few weeks could be interesting, but I think the quarterly reports should provide any 'real' leads. There are plenty of possibilities 'a foot' as highlighted in previous posts!

Jess9 what are your thoughts on the possible outlook?

Cheers
BP:)

[Woody51]

Problem with the options on the ASX, BAP, is no one is selling. Can't get any heads either under .054 - I know, I have been waiting.

[BAPP]

Hi woody51,

Theres only one answer too that (your ?)-buy head shares- and lots of them (If you believe in your gut feeling-take the risk!)

Question for croesus? Rumours - do you have any more info?

IMO the quarterly reports will provide the 'lead'. You should make your decision from the info provided! Just over two weeks to wait IMO.

Look at previous posts and look at the timing.

New samples from Karangahake will be at the lab for testing, drill testing at BHCL will be underway and progress is underway at Dunmarra as per the last announcement.

The quarterly announcement should be interesting!
What have the consultants at BHCL come up with?

Cheers
BP :):):)

[croesus]

Hi Bap

I know a little, but if I let on I may well drop my source in the ****.
suffice to say I will be buying more HGD this coming week, before the announcement.
On another tack.. have you thought about buying a few WIDWAs... one of my spec favourites.
cheers Croesus

[Jess9]

Hi Croesus. Your recent posts were expecting HGD to hit 4c again. You have had a change in heart. Good to see you back supporting though.

Re your rumour, I wouldn't be surprised on some action soon - after all we were expecting it - pre 27 June. Would your rumour relate to BHCL? I was counting on something on that to support the conversion - well such is life. We move on. That said, while HGD timing could have been better, I still think the projects underway will be money spinners, going forward. BAP, on that score - if you can wait and then hold through temptation I think your holding level will ensure an early retirement is an option for you.

I'm still keen on this one. Lets see were she is in 6 months! (6.2c - now)

[croesus]

Hi Jess
Yes my opinion has changed after a call from Australia last week, but with all due respect I would prefer to not comment further.
I may end up with egg on my face if the announcement is not lodged by 11am NZ time nxt Thur.
remember.... I suggest you all do your own research, and only spend what you can afford..

[Jess9]

Forget the egg, even if after that date (as HGD can be a bit slow)if progress/announcement is 'exciting', it will be nice to begin some ongoing appreciation - after the earlier false start. We wait and watch.

[BAPP]

Hi croesus,

I think most of the HGD supporters on this thread have been anticipating an announcement anytime soon, so IMO there's little chance of you ending up with 'egg on your face', however the timing of the announcement may be interesting.

I would be surprised if any news would be released in advance to the NZ market.?
(I would have thought 11.am Aust time would be more likely time for an annoncement to be made?)

Like Jess9 I have been anticipating some news regarding BHCL and I had been given the impression that we should get some positive detail in this months quarterly announcement. (If we get some news earlier all the better!)

On the other hand are we ’ off track’ thinking of BHCL? Could some mining company be going to make a take-over bid or ‘make a play’ for the Waihi gold resource? This idea has been suggested on more than one occasion and there is plenty of ‘activity’ in the merger & acquisition arena at present!

jess9 I will be holding all right! I decided to acquire a few more head shares last week which gives me a nice rounded total to sell off in ‘smaller parcels’ when the time is right.

As I always say, have a plan a stick to it! Assuming my share price targets are meet the first parcel should return my original capital outlay, which in turn will be reinvested into a new shareholding. (this is the same process I used for SMM).

croesus I purchased a few 100k of WID about 8 months back after reading the thread and following your lead. I don’t want to be over exposed in mining at this stage, but I will be considering WIDWA in the near future. (The investment in WID has been worthwhile, so thanks for the ‘pointer’ )

Well it looks to be an exciting week and month ahead. Lets hope the HGD faithful finally get some reward for their patience. (retirement would be a nice option to ‘ponder’!)

Cheers
BP:):):)

PS: One would expect to get some detail about the new MD in the next few weeks also.

[BAPP]

Hi croesus,

I understand if you are unable to comment further, but I wondered if you could indicate if the rumour was specific to a 'prospect area' (ie: BHCL) or to the company entity?

Also without wanting to change the subject away from HGD too much, I notice that the WID thread has been quiet for a while! Do you know of anything happening there?

Regards
BP:)

[croesus]

Hi Bap,
Whilst I would like to be more specific, in fairness to my source I can not, ( I have probably let on too much as it is)

re WID until ASN (WIDS largest investment) gets sign of on the Nickel mine in Vietnam from the P.M.O the S/P will likely remain static.
cheers Croesus

[BAPP]

Hi croesus,

I understand.(but thought I'd ask on the 'off chance'!)

Which ever way it goes it does help build some excitement for the week though!

I'd like to think that some progress is being made at BHCL and management is about deliver on the IPO listing scenario that has been implied for a few years.

This would be a nice lead up to the granting of Uranium licences at the Dunmarra Basin.

Also I understand that 'new' samples from Karangahake are at the lab being tested, so there's still plenty to keep us hopeful of 'bigger and better returns'.

Whatever happens it will probably add 'a bit of spice' to this thread in the next month or so.;)

Cheers
BP:)

[Yme]

BAP,,
as i stated i'm still learning FA and wondering if you have an idea when we could be hearing more about the 33billion in ground resource going into production [?][?][?]

Woody51,,,sorry for constantly propping the 5.4c mark:D i missed the 5.5 seller :( as i spent the last week in the Alpine region of Victoria

Croesus,,,thanks heads up my TA is also suggesting more buying,,i've got an incomplete order at 5.4 to send forward in a kamikazi plane and looking for another buy down here at these levels [:p][:p][:p]

regards
Yme

[BAPP]

[quote]Originally posted by Yme

BAP,,
as i stated i'm still learning FA and wondering if you have an idea when we could be hearing more about the 33billion in ground resource going into production [?][?][?]
__________________________________________________ ___________________________________
Hi Yme,
I'm assuming you mean the estimated '33million pounds' of cobalt that could be lying within the Thackaringa project area? Which HGD manages and owns 33%!

If that's the case.., at the special meeting in April management indicated test drilling would start around June/July. In the recent Annual report they also indicated that consultants were reviewing the project for it's economic viabilty and work was currently underway to evalaute a stock exchange listing for the project.

As for production time frames , your quess would be as good as mine!

As I indicated in my previous post today, I am hoping for further news on Broken Hill Cobalt 'on or before' the end of the month when the quarterly report is due out.

IMO if this 'takes off' you won't care whether you purchased at 5.4cents or 6 cents!
You'll just wish you had acquired more! However always remember, never invest more than you can afford to lose!

Cheers
BP:)

[Yme]

Hi BAP,
thanks quick reply ,,,and noted comments on cobalt poundage,,,mind really boggling now[:0]

i read that "Northland" may hold a $33 billion dollar reserve [?]

Yme

[BAPP]

Sorry Yme,

I thought you were talking about the Thackaringa Cobalt project @ Broken Hill in NSW.

While HGD has applied for permits over extensive areas of Northland, they have not been granted. (as far as I'm aware).

Assuming the licences are granted HGD will have 'control' of a huge portion of the Northland mineral reserves that were highlighted in the recent study and announcement.

However with regards to production in the area I would suspect that could be a few years away yet.

Again there may be more detail in the next few months, but I would suspect that the gold at Karangahake, cobalt at Broken Hill and the uranium at Dunmarra Basin will keep management busy in the short term.

Cheers
BP :)