Heritage Gold...HGD [Archive] - Page 7

Woody51

19-08-2007, 01:31 AM

Newmont Waihi Gold, subsidiary of Newmont Mining Corporation, has three years ahead of it with the Martha open cut and it currently it has four years mining life ahead on the Favona underground mine, also at Waihi.

But the future of this operation -- suffering from the same problems of retaining a competent workforce and containing material and equipment costs - will depend on exploration success.

In today's keynote presentations at the New Zealand Minerals Conference today the General Manager for Newmont Waihi Gold, Glen Grindlay said Newmont has a global exploration budget of $US175-180 million and was spending $NZ10 M ($US7.3 M) in NZ, mainly in the Waihi district. Newmont inherited the mid tier gold mining operation at Waihi on New Zealand's North Island when it took over Australia's Normandy Mining Ltd and while it has put the NZ gold mine on the auction block at least once it decided to press on and, in doing so, became the country's biggest spender on mineral exploration. The will to stay on is still there, but exploration success will be critical in the next year or so

The real target, Grindlay said, was to find another Martha mine - the historic underground operation that resumed as an open cut in the 1980s.

He said said that major challenges for the company were the ability to hold a skilled workforce and the long lead times for the supply of machinery and equipment.

He launched his presentation by asking: "How many skilled underground mining staff does it take to change a light bulb? Only one, but first you have to find one that isn't working in Australia or thinking about heading that way soon."

He said that five years ago the ratio at a NZ hard rock mine was 80:20 skilled to new workers and trainees, but that ratio today was totally reversed.

Lead time for delivery of key mining equipment included 90 weeks for a ball mill, 130 weeks for a SAG mill, 110 weeks for gear sets and 75 weeks for a large synchronous motor. A large ore haulage truck could take 140 weeks to arrive and then it probably would not have any tyres.

Grindlay cited a visit to Waihi by comedian Billy Connolly who told the story of a Waihi local, Bones Radford. Bones started at the Martha mine aged 14 and after 50 years he finished with the others when the mine closed in 1952. Connolly said that at his farewell Bones' only comment was: "You ungrateful bastards. If I had known the job was only going to be temporary I would never have come here."

Grindlay said: "Today we need more staff life Bones and more mines like Martha."

BAPP

19-08-2007, 11:10 AM

Out of interest

Why is HGD so heavily discussed (apart from being one of the few NZ miners) e.g. do they have decent projects coming up etc?

Hi Tok3n,

I think the simple answer to your question is that there is a group of contributors and shareholders who are 'bullish' about HGD's prospects in the medium to long term.

HGD has 205K oz of gold + 800k oz silver(JORC compliant)at Waihi and their permit areas almost completely surround that of Newmont. (see the last post by Woody51.)

Actually my understanding is that the Martha pit mine is almost ready for closure now and that Newmont is already having to concentrate on Favona.

If you study the permit areas around Waihi, I think you will quickly understand the potential for HGD and why a JV with Newmont seems logical.

This will eventually come down to $$$, and how much Newmont is willing to pay for the extended permit areas and resource owned by HGD. Any upgrade in resource levels by HGD will put pressure back onto Newmont's management to make some decision about their future in the area.

We also have a JV at Thackaringa with the Broken Hill Cobalt which is managed and 33% owned by HGD. Cobalt is a valuable resource and is in huge demand world wide. The unconfirmed resource levels at the Thackaringa project is 33 million pounds(lbs). The current price of cobalt is US$25 per pound.

Along with this, there are permits pending at Dunmarra Basin for Uranium exploration which should be granted within in the next month or so and there are extensive mineral exploration permit applications in Northland also pending. A recent study study indicated that the mineral resource in Northland could be worth in access of $30billion.

So for some of us, HGD holds a lot of interest and the outlook/hope of large rewards to come.

Cheers
BP:)

PS: I recommend you do your own research. I hold quite a few HGD shares!

BAPP

20-08-2007, 08:29 PM

It was good to see a bit of 'upside' with HGD/HTM share price today, even if the trading volume on the ASX was bit sporadic. (Woody51 must of been spending his winnings from the weekend! ;))

Lets hope this trend can continue as we head towards the AGM and some important announcements with regards to the Uranium permits and the new MD.

Cheers
BP:)

Woody51

20-08-2007, 08:37 PM

BAPP

20-08-2007, 09:11 PM

No, I can assure you it wasn't me haaa. Missed on Universal Queen in the last leg at Melb, for a good result waaa.

My paper losses are looking very sad on HGD - let's hope we do get some enduring news to carry us into the future ...

Hi Woody51,

Must be croesus buying up then!:)

I still prefer a 'paper' loss on shares compared to a 'hard cash' loss on the horses! (they're always a bit of fun though after a hard week on the markets;)!)

I'm 'betting' (speculating that is!) on some good news starting towards the end of the week and continuing through September as long as we don't witness too much more volatility in the global markets.(which of course is the big ? at the moment:confused:)

Cheers
BP:)

PS: An interesting scenario would be to have more than one 'party' interested in a JV at Waihi. Now that would put 'pressure' on Newmont! I 'bet' their exploration budget for Waihi would suddenly increase!

croesus

20-08-2007, 09:41 PM

Not me BAP, did'nt buy any shares at all today. Not sure if today was a "deceased feline rebound..".. lets see how the big markets go tonite.........
cheers Croesus

BAPP

20-08-2007, 09:54 PM

Not me BAP, did'nt buy any shares at all today. Not sure if today was a "deceased feline rebound..".. lets see how the big markets go tonite.........
cheers Croesus

Hi Croesus,

Just a tongue in cheek comment!:)

However my comment about having more than one interested JV partner at Waihi isn't! :)

IMO management 'should' be working hard to negotiate with other interested parties outside of NZ. Time will tell and maybe you already have an insight into this scenario?;)

Cheers
BP:)

croesus

20-08-2007, 10:16 PM

BAPP

20-08-2007, 10:41 PM

Hi BAP, whilst I have a insight (supplied by a Aussie mate) .... it seems stalled... possibly put in the same box as MId Earth, new executive, etc etc...I don't know what it is with this company but they move so slowly.........
Lets see what the AGM brings

A JV at Waihi is what we are after..........

Hi Croesus,

I think it is about value(perceived or otherwise!) For instance Newmont play hard ball, because they believe they have the 'power' over a junior explorer just as HGD. :p

However at the end of the day it comes down to 'productivity vs capital' investment. IMO a resource upgrade by HGD is on the 'books' and this will 'pose' a big question for the likes of Newmont. Do we make an offer based on the average share price over the past year or do we make an offer based on the resource levels and potential resource of the permit areas.

When potential JV partners understand this concept, both groups will start to make money!;) Shareholders will have to be patient in the meantime!:)but the $$$ will roll in.IMO

Cheers
BP

BAPP

23-08-2007, 06:25 PM

Here are my questions for the AGM.

If anyone would like to comment or add to them please do!

Cheers
BP:):)
__________________________________________________
When will new gold & silver resource levels be confirmed at the Waihi permit areas?

There has been the inference over several years that HGD is positioning itself to ‘partner’ with another company to further develop the Waihi permit area to mining stage. (ie: a JV with Newmont)

Is the company ‘actively’ seeking a JV partner at waihi or in any other permit area?

If so what are the parameters of any deal that the directors would agree to? (ie: 50/50 venture etc..)

Without a JV partner will the company have access to enough working capital for further exploration in the area?

When will drilling at Broken HIll commence and what is the projected timeline for an IPO and resource levels to be identified?

Based on previous announcements regarding BHCL it was indicated that ‘private funding’ is being ‘sourced’ to progress this development.

Will there be preferential benefits to HGD shareholders once an IPO is undertaken and will HGD continue to manage this project once the company is listed?

When will the Dunmarra Basin Uranium exploration licences be granted and how long will it be before drilling and sampling takes place?

Again what is the timeline before Uranium resource levels can be confirmed? With Kentor Gold also seeking licences in the Dunmarra area is there any likely hood of a JV pending here also?

With regards to increasing Directors fees there is no doubt that the company needs to retain experienced people and the current fees paid are relatively low.

However based on the need to retain working capital for further exploration, wouldn’t it be prudent to offer directors ‘share options’ based on any improved performance(increased share price) by the company?

Over several years the company has relied on supportive shareholders to provide funding for projects, unfortunately a few months ago an opportunity to raise further working capital by way of the warrant conversion was lost.

Do the Directors have any comments to make regarding this issue,especially taking into account there are still other option on issue next year?

Currently the company website and market news releases to shareholders are lacking in the ability to provide information regarding a clear strategy and business outlook for the different projects that have been undertaken. The website is out of date and does not recognise or highlight some of current projects such as Broken Hill or Dunmarra Basin.

Will the company be addressing the way they communicate to shareholders in the near future and can we expect an improvement in communications?

Now that the company has expanded into exploration for a range of metals and minerals, is there any discussion regarding a name change?
For instance Heritage Resources International, would signify that the company has extended it’s exploration and in more than one country.

__________________________________________________ _

STRAT

23-08-2007, 06:51 PM

BAPP

23-08-2007, 07:10 PM

Excellent list BAP. Do you consider it a good idea to forward your questions to the company in advance? Assuming Directors want to answer questions in an accurate and honest way it is easier for them to do so with a little prep if they know the questions that will be fired at them before they are johnny on the spot and they have then little or no excuse for not giving a stait answer.
--------------------------------------------------------------------
Hi Strat,

Yes! Peter has these questions already and he is well aware of my thoughts!

Cheers
BP:)

STRAT

23-08-2007, 07:33 PM

--------------------------------------------------------------------
Hi Strat,

Yes! Peter has these questions already and he is well aware of my thoughts!

Cheers
BP:)I cant make the AGM but will be looking forward to checking in here after.
The last time I went to an AGM I had the fortune of meeting others from a share site thread on/about that company but missed out on meeting others because we didnt make a point of planing it in advance. I suggest all on this thread who are going make a point of getting together at a meeting point in advance, that is of course if yall want to meet. It can be fun :D

Oiler

23-08-2007, 07:49 PM

I cant make the AGM but will be looking forward to checking in here after.
The last time I went to an AGM I had the fortune of meeting others from a share site thread on/about that company but missed out on meeting others because we didnt make a point of planing it in advance. I suggest all on this thread who are going make a point of getting together at a meeting point in advance, that is of course if yall want to meet. It can be fun :D

BAP I have to agree, you have a great list of questions.. I will be attending the AGM.

I am a newbie to HGD and see great upside for this stock and have averaged in at around 4.5 cents..so all good

Anyone want to meet ahead of the meeting ? I am a starter, even if only to meet fellow ST threaders !

Jess9

25-08-2007, 05:33 PM

Hi BAP. The responses to your questions should provide some 'meat' to chew over on this this thread.

My key concern is around the flow of information out from HGD, and improvement thereof. If not already underscored, maybe this could be hammered home at the AGM.

As a shareholder, I want to understand what HGD's goals are, and the steps it plans to take to achive them. I want to have indicative time frames for step completion and these be reported against, as info. is available and this summarised each quarter to provide context, in relation to the 'big picture' and . In this way, I think all shareholders will better understand where we are heading and how quickly we are traveling. As HGD begins to develope its projects it must improve in this area.

Linked to the above, I also support intelligent use of option incentives for Board, key management and possible staff incentives.

More later, dinner calls (or at least the wife is screaming ; )

Woody51

25-08-2007, 06:42 PM

Jess, my thoughts too. The business plan, objectives etc, that is what is sadly missing now in their communications with shareholders. W. Grigor says time and time again that information flow is one of the keys to creating shareholder interest. HTM (HGD) have got to get that right too.

Jess9

25-08-2007, 09:59 PM

Tok3n

25-08-2007, 10:18 PM

I hope HGD doesn't become the gold version of NZO.

Where it takes 20 years to get anywhere, especially when it looks like gold prices are on a verge of a breakout.

Maybe one day, HGD and NZO will merge to become the NZ equivalent of BHP :)

Jess9

25-08-2007, 10:42 PM

Maybe Radford is looking for his next (MD) role!! In the past he was closely linked with Ottergold (who held a 1/3 interest in the Martha mine)...who knows

Another thought, if the kiwi $ carries on down in the next few years, USD exposure can only be good for HGD, paying costs in NZD (with USD converted revenues).

BAPP

26-08-2007, 08:56 AM

Hi Woody. This is just so important to adding massive shareholder value. I think if HGD can clearly articulate key objectives and clears steps it not only informs the shareholder, but more importantly demonstrates they know exactly how and by when such real value will be brought out.

HGD has lots of potential but limited resources (not resource;). However, this need not be a problem - if the Board and MD stay focused on achieveing key value adding objectives. HGD have awesome permit areas now - with high probability for a "martha" load resource (this would be world class!!). Its now time however to be clear about what the next steps are in order to 'reel this in'. The critical change has started, with Board and next MD change. Lets see if they can deliver. IMO much will depend on the quality of the next MD...more to discuss on that soon I guess.
--------------------------------------------------------------------------------

Strategy, timelines and key objectives for permit areas will definitely be on my agenda at the AGM. Peter and the other Directors should be well 'primed' for answering our questions.:rolleyes:

I'm still hoping to see an announcement regarding the new MD before the AGM. (But again uncertainity prevails!:()

Lets hope they have strategies and objectives that will realise the full potential of all their permit areas and create wealth for all shareholders!

Isn't that why we become shareholders - to see our our 'wealth' improve!:D

Cheers
BP:)

Jess9

26-08-2007, 10:00 AM

I see BHP are spending up $1.2 b USD to expand its resources this year. The other biggies will surely be along the same lines. Be interesting to see if in the next 12 months we get a spate of takeovers - to obtain control over new reserves, or access to highly prospective permit areas. As HGD has significant (and already permitted i.e. less lead in time) acerage in Waihi this combinition could certainly assist our little coy grow bigger quickly : )

whatsup

28-08-2007, 05:05 PM

Surprise,surprise , VERY LIGHT VOLUMN today ahead of tomorrows AGM , would have thaught that if there was something substantial to happen at the agm tomorrow that there would be a slight runup of both volumn/price but no which indicates to me that nothing of a real interest will be announced , sad very sad ;;;; but I wait with interest on the show case AGM!

JackSprat

29-08-2007, 09:56 AM

Good luck everyone for the AGM today. I was looking forward to the markets staying positive a little bit longer so that the gain yesterday would continue but a big plummet last night means any good news maybe clouded (in the short term). Then again, who knows. Gold is always positive. :)

croesus

29-08-2007, 10:02 AM

Best of luck at the meeting BAP, Hope you get some straight answers....and not waffle and handwringing........
Looking forward to when you post your summary of how it went.
Regards Croesus

BAPP

29-08-2007, 06:12 PM

Sitting at airport, will try and get a report posted tonight or in the morning.

Here's the links for starters: http://www.heritagegold.co.nz/text/announce.html

http://www.heritagegold.co.nz/PDF/AGM_pres_07.pdf

All go at BHCL! and new MD almost on board!

Cheers
BP:)

tobo

29-08-2007, 10:12 PM

Highlights and snippets:
New CEO introduced. Delay was that they had 4 to pick from.
Thakaringa Cobalt IS moving. Spin off by Dec 07, Aus (with shareholder participation) to raise $7m to advance exploration and move to development (already talking to chinese consortium who might develop)
Waihi gold resource definition progressing. Reiterated that discussions with Newmont have in the past occured (JV/TO/whatever, also idea of toll use of plant) but not lead to agreement as Newmont pitching pricing too low. Determination to continue to define resource with possible end game of development with (or without?) JV (depending on how things pan out).
Northland gold - Large tenements. Not priority...but not forgotten either.
Uranium Expl license applications - Must wait till end of Sept to see if there are public submissions (normal process in Aus). Don't know if there will be any. If none, quick progression to grant licenses, if submissions, must be addressed with unknown timeline until content of submissions is known.
General sense of quiet confidence - steady progress has been made in several areas. I can see effort gradually coming together and will reach a point where value starts to accelerate!

JackSprat

30-08-2007, 10:25 AM

Thanks Tobo,
That looks pretty damn good to me. Positive aqction on all fronts; gold, uranium and cobalt- pity there wsn't a chunk of lithium in there. Never mind I'm holding on to HGD. And BAP you're expectation looks to be going to work out. SP $1 within the year!

croesus

30-08-2007, 10:29 AM

Seems Promising........Interested in BAPs thoughts.
Cheers Croesus

BAPP

30-08-2007, 10:49 AM

After trying to decipher my own scribble I have to say the meeting was a pretty quiet affair!:)

There would have been approximately 20 shareholders present and the meeting was ‘controlled’ by the chairman Mr Hill.;)

The resolutions were passed with relative ease.(no surprises there!)
and there were no real difficult questions presented by any shareholders.

Other than Mr Geoff Hill, the other directors present were Mr Peter Atkinson and Mr McKee. Sitting alongside the Directors was the ‘probable’ incoming CEO Mr Trent Lash. Unfortunately he had not signed the ‘dotted line’ at the time of the meeting (hmm..)

One of the company’s consultants Murray Stevens provided a power point presentation covering the permit areas, specifically those based in NZ.

While his presentation was rather bland, he provided some confidence in the gold resource levels at Waihi and was ‘ very upbeat’ about the ability to find higher yields at depth. He also made special not of the ‘Mystery’ vein which was showing good results.:D

Peter took the reins after Murray had finished his presentation and in general he adequately covered most of the questions that were posted and gave a satisfactory overview of the outlook for the company.

Shareholders did get the opportunity to 'pose' some questions although not ‘too many’ put there hands up and Mr Hill did ensure this part of the meeting was kept brief...:rolleyes:

The highlight of the meeting had to be the confirmation of plans to list Broken Hill Cobalt Ltd on the ASX in December 2007:D:D:D

Their objective is to raise up to $7 million dollars to progress production at Pyrite Hill which is part of the BHCL permit area and to advance further exploration targets in the area.

In summary BHCL has completed resource evaluation, mineralogical and metallurgical studies, and cobalt extraction test work and the indications are that Pyrite Hill is ready to progress to production with a minimum 10 year production life.

There is also the potential to extract and process other minerals
resources in adjacent zones, including Co, Au, Pb-Zn-Ag prospects which have been ‘earmarked’ for further exploration

BHCL is currently in discussions with major Chinese consortium(s) interested in developing the resource based on favourable contractual supply agreements. (unofficially they wanted to buy the entire resource outright!)

There was also an indication that HGD shareholders would receive preferential opportunities, however they did not elaborate at this stage.:)

With regards to the Waihi exploration and mapping will continue with the objective to clarify exact resource location, so the company has the option to push ahead with a stand a lone production facility if no suitors come to the fore.

The permit areas almost completely surround that of Newmont and the obvious conclusion is at some stage a JV with Newmont will take place. However in past discussion Newmont has been treating HGD as a junior and wanting ‘far too much while offering too little’.

From my prospective this seems a game of ‘cat and mouse’ at the moment and in the longer term I think HGD will gain the ‘upper hand’ in Waihi for the simple reason, Newmont will eventually need to acquire more resource to feed their existing production capacity and they have no where to go in the area.

After talking to Mr Hill about this matter, he seems confident about their strategy and he indicated the Directors only want parity on any JV arrangement. To date the offers made have not met their valuations, however it was also indicated that other potential suitor(s) are looking!

Apparently the main focus for the incoming CEO will be to market the Waihi resource and I think this permit area is very saleable.

The Uranium Exploration applications are still waiting to ‘see out’ the public submissions process. The company should know the outcome by September 2007.

If there is ‘no public submissions’ the licenses should be granted quickly and the company has already has a testing programme planned. During this period they have been able to do some test work and have established the best locations to progress once they have final approval.

(There is still the possibility of submissions and these will extend the process of approval as the company will have to address the concerns lodged.) IMO this is unlikely to be a problem.

There was little information regarding the Northland permit areas other than in the presentation Murray Stevens. Again he was very positive about the extent of the prospects in the area, but this is a very large and long term venture and I would suggest it will be a few years before they really focus on this area.

The main strategic points to come from the meeting were that the Directors aim to grow the search for land holdings and commodity resources.

The intention is to advance the main permit areas by way of JV’s or stand alone operations and further effort will be made to improve and expand existing assets.

Throughout the meeting and in the ‘tea & cakes’ discussion afterwards the participating management impressed with their confidence regarding future prospects

To summarise I was happy with the outcome and the general answers, however ‘actions speak louder than words’ and we should be looking for real evidence of progress between now and the end of the year.

It will be immensely important for the management to successfully progress the uranium exploration in October and follow up with a successful listing of Broken Hill in December.

The most disappointing aspect of the meeting was that they had not yet agreed to final terms with the incoming CEO and that while he was in attendance they didn’t provide shareholders with any detail of his background, once again they let themselves down with the information process.:rolleyes: (of course I did approach him directly about his background)

Overall promising outcome, but more information required.

Rating 6.5/10 ;)

Cheers
BP:):)

whatsup

30-08-2007, 11:05 AM

BAP, Thank you for the informative update.

croesus

30-08-2007, 11:06 AM

Thanks BAP. Lets hope they push the Cobalt along.

Excellant summary.. 8.5/10

STRAT

30-08-2007, 11:11 AM

(of course I did approach him directly about his background)

Cheers
BP:):)Thankyou Bap.:D Nice summary but you left out the reply you got to the question above :confused: Come on, spill the beans :D

Oiler

30-08-2007, 12:45 PM

Excellent summary of the meeting BAP. I also came away from the meeting feeling a lot more comfortable about where the company is heading and hearing about some of there plans.

I will let BAP answer Strats question regarding the new CEO but I will say after also talking to the guy.... he is a young, ambitious, entrepenurial and well educated guy.

The expectations were that they could sign an employment contract last night or this morning.

He appears to be what this company needs to get it to the next level.....production.

STRAT

30-08-2007, 12:50 PM

he is a young, ambitious, entrepenurial and well educated guy.
. Young???. That alone has to be a step in the right direction :D:D

JackSprat

30-08-2007, 01:12 PM

Thanks BAP, a lot of work and a balanced review. If you google Trent Lash there's a couple come up in NZ. Maybe one of those.

BAPP

30-08-2007, 02:34 PM

Thankyou Bap.:D Nice summary but you left out the reply you got to the question above :confused: Come on, spill the beans :D

Hi Strat,

I thought it might be prudent to see whether the two parties actually agree to terms before making too much comment, however Oiler2 has summed it nicely with his post.

Apparently Trent is an Otago boy, and has acquired a Canadian accent over recent years!- hey we won't hold that against him if he can get the share price moving upwards!:D

He has worked with some resonably high profile company's and he has an established mine engineering and financial background.

He is well educated, confident and seems entrepenurial and he may even be a little younger than me!;)

From the discussions at the end of the AGM it seemed like confirmation would be soon, if not today, so lets just wait and see!

Cheers
BP:)

STRAT

30-08-2007, 03:00 PM

Thanks BAP

BAPP

30-08-2007, 06:07 PM

Overall promising outcome, but more information required.
Rating 6.5/10 ;)
Cheers
BP:):)[/QUOTE]

I was just going over my notes again and I also scribbled down that, Mr Grigor will have a major influence on the success of the BHCL IPO.

The company needs to target Australian 'brokers and investment houses' to give this IPO the 'push ahead' and the credibility it needs. This is where the expertise of Mr Hill & Grigor will pay 'dividends' for HGD shareholders.(IMO)

The BHCL listing could be an exciting opportunity if it is managed correctly.
Of course we still need to see what the benefits for HGD shareholders will be, but I'm confident of a positive outcome.

So lets hope the increased Directors fees to Mr Grigor are incentive enough!:D

Cheers
BP:)

PS: My 6.5 rating may have been a bit harsh also, maybe 7 would have been a fairer grade!;)

Oiler

30-08-2007, 06:35 PM

So lets hope the increased Directors fees to Mr Grigor are incentive enough!:D

Cheers
BP:)

PS: My 6.5 rating may have been a bit harsh also, maybe 7 would have been a fairer grade!;)[/quote]

Yes lets hope the increased directors fees are incentive enough to keep there interest. :o I believe in "pay peanuts, get monkeys" but let me qualify that by saying that HGD directors have done a great job.
I have to think that sooner or later there has to be a much more attractive compensation package for the executives and directors of the company given what the future developments hopefully are.

We need to incentivise management......... the company doesn't have spare cash so lets look at "performance options"

Once the new MD/CEO is on board I think we will start to see some action. :D

BP I think your 6.5 was a little harsh !

Woody51

31-08-2007, 12:38 AM

Rolling up at an AGM with a candidate for MD who still hasn't signed on the dotted line has to be one of the more bazaar PR exercises in the HTM bag of tricks. Let's hope he's good and he signs. Thought the cobalt stuff was worthy of a media release out of the AGM to try and pick up investor interest. It's a strange beast this one, very strange.

jonny5

31-08-2007, 08:48 AM

Woody I agree but think that if they'd skirted the issue or stated "yes we have one in the works" it might have been the final straw for some.

BAPP

31-08-2007, 09:22 AM

[QUOTE=Woody51;162765]Rolling up at an AGM with a candidate for MD who still hasn't signed on the dotted line has to be one of the more bazaar PR exercises in the HTM bag of tricks. Let's hope he's good and he signs.

Hi Woody,

Yes, it was rather unconventional and unfortunately I believe the Directors now have themselves in a 'precarious' position!:o

This could almost turn out to be a repeat of what happened with Paul Granney the CEO for the 'proposed & dumped' MEM listing.:( Mr Lash may almost have the board by the 'short & curlies' so to speak!;) Lets hope not!

However IMO the important factor to come from the AGM is the listing for BHCL. We don't need a new CEO to progress this venture or the Dunmarra uranium licences for that matter, we have Mr Grigor & Hill, who I would suggest will do most of the 'donkey' work to progress these initiatives in any situation. see my previous post and remember that Mr Hill is currently the number one shareholder!

Yes, ultimately we need to see the new CEO 'signed up' under agreeable terms, however it won't be the 'end of the world' if this doesn't happen just yet! :)

As I said in my AGM post I believe the focus for an incoming CEO will be to ensure the sale/marketability of the Waihi resources. A satisfactory outcome there is still reasonably dependant on improved resource upgrades IMO!

Cheers
BP:)

Woody51

01-09-2007, 01:37 AM

I have just come in from a big night (wine) out. But quite honestly, I really think we are too soft on this crowd.

I have come to the conclusion, they are either devious or incompetent.

I really can't believe they got away it at the AGM. What's new?

A whole lot of maybes re the cobalt stuff. And in the end, HTM (HGD) shareholders could be totally diddled anyway. That's if anything ever eventuates.

Re the gold drilling. Either they believe in it or they don't. If they do, then why haven't they got every crew available out there, drilling flat chat?

We don't even know if they are drilling, or whatever!

Forget the uranium, you can bet some greenie will object to the underground water table or something. And if Rudd (Labor) gets in, well every hurdle will be thrown up re Uranium mining you can imagine.

If they really think the gold can deliver, then stop playing bluff and prove up the resource - flat chat.

The PR and the website remain a disgrace. I can't believe Warwick Grigor has got caught up with HTM. All of their communications is so contrary to his stated philosophy re shareholder democracy.

I'm sorry, BAP, Jess etc, but when you read this forum over the last 18 months or so, my take out is - - - well meaning shareholders offering every excuse for a management that has constantly let them down. And in the time of a resources boom.

ScrappyO

01-09-2007, 08:34 AM

HGD have been saying for the last 3-4yrs that they have been looking at listing BHCL.If HGD shareholders do get Entitlements they should IMO receive Bonus shares if they take these entitlements up. Once again we wait and see.

BAPP

01-09-2007, 10:22 AM

Hi Woody,

Why not send an e-mail to Peter Atkinson and Warwick Grigor reiterating your concerns and frustration made your last post! (just leave the bit out about a night out ;)

As I noted in my AGM coverage, the shareholders present (I include myself) did let the Directors 'off the hook' to some degree, however Peter was fairly thorough with his explanations and coverage of the projects and the strategy for Waihi.

You are 100% correct about the company PR and website and maybe some additional shareholder criticsm on this issue may get some action.:rolleyes:

IMO Warwick Grigor would not have 'backed' this company if he didn't see any potential, but he is the only person that can clarify his reasoning on that.

Actions speak louder than words and the directors must now see through their plans for this year.

I have confidence in the outlook for the company, due to the research I have done, the fact that the main permit areas have known/proven resource levels and the credentials of the Directors and shareholders.

Woody, I recommend you phone (or e-mail) Peter & Warwick directly to get their feedback and possibly some reassurance.

Cheers
BP:)

mibo

01-09-2007, 03:52 PM

Yep, I think the website could do with a professional lift. The current one looks pretty basic and very dated.

'Perception is reality'

etrader

01-09-2007, 11:43 PM

i could not make it to agm but obviously did not miss much, just another boring meeting with regular geological speak it sounds and a few "possibly" this and "possibly" that happening, yip 21 years latter and they have a website that reveals a $2000 start up company that's totally outdated, reflects a part of what they do etc.

I've mentioned as well as others on many occations and nothing is done. I've sunk quite a few $ into hgd and i wonder why most of the time, my view has changed from march this year i'm sorry to say. How much longer ? i think i could seek better op's elsewhere.

Might hang in there a little longer

BAPP

02-09-2007, 09:29 AM

Oiler

02-09-2007, 05:41 PM

Hi etrader,

I don't know what other AGM attendees thought of the meeting, but it wasn't that bad. There were several positives and I came out of the meeting reasonably happy.

Cheers
BP:)

Hi Etrader,
I was there also and came away quite happy, especially after having met the new CEO. My only disappointment now is that there has been no official announcement as to his appointment .
I am increasing my holdings quite significantly as a result of the AGM discussions. ;)

croesus

02-09-2007, 08:23 PM

Your on to it Woody, will be considerable egg on HGD managements face,... if this guy doe'snt sign........ all a bit amateur night in my opinion.

BAPP

02-09-2007, 10:09 PM

Your on to it Woody, will be considerable egg on HGD managements face,... if this guy doe'snt sign........ all a bit amateur night in my opinion.

Hi Croesus,

There will no doubt be 'some egg on face' for the HGD management if Trent Lash does not sign an agreement to become the new CEO. As I noted previously the directors are now in 'precarious' position.

However IMO it is still more important that the directors ensure they have the 'right' person for the job and that all terms are agreed on the basis of 'delivery' and the 'meeting' of shareholder expectations.

Ultimately we want Trent Lash and the HGD directors to agree to terms, however IMO it is better to have 'egg on your face' if he is not the person for the job and is not 'willing' and 'able' to meet the terms and an agreed remuneration package.

Personally I feel we are jumping to conclusions even discussing this possibilty just yet, but of course thats what this company sometimes leaves you doing by its lack of communication!:rolleyes:

The priority for the company must be to progress the uranium initiatives and the Broken Hill Cobalt IPO as they have indicated they will. If they don't meet their self imposed time frames they will have much 'more than just egg on their faces'. They(the directors) will have millions of shares that could suddenly lose much of their value.

This time around I don't think they will let these opportunities slip by!
I hope not anyway, although I'm sure you will have your own insight into the outcome!

Cheers
BP:)

BAPP

04-09-2007, 11:54 AM

From HGD management’s viewpoint it must be very encouraging to see both gold & cobalt prices pushing upwards at the moment.

With gold teetering on a new ‘bull run’ (US$670+/oz) and the demand for cobalt(US$27/lb) increasing steadily what better time for the company to focus on the the Broken Hill Cobalt IPO and a JV at Waihi.

The two links below are well worth a read if you have the time and are interested in the outlook for cobalt and Broken Hill Cobalt Ltd.

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

The above 'Cobalt New's link is fairly lengthy so I have copied a couple of extracts from the August News releases that help tell the story of why 'IMO' the BHCL listing has great potential.

Cheers
BP:)
-----------------------------------------
Extracts:
There is another metal, which at the moment is a critical material, one without which the current designs of lithium-ion technology batteries cannot be built: cobalt. I'll explain why this is so in another moment. As it happens cobalt is also critical in the current technology for manufacturing nickel metal hydride batteries, which are as universally used today as they have been since 1999 in all production hybrid-powered vehicles made by Toyota, GM and the other large OEM auto makers.

One bullish trader, meanwhile, had this to say: "Currently the summer holidays have clouded the fundamentals - but in the next few weeks as customers return from vacation - they will need to obtain metal to fill their glowing furnaces. The next chapter in cobalt is going to be very interesting. I don't think the fundamentals have ever been this strong before.

China produces very little cobalt; Japan and Korea produce none. Yet the three of them use together twice as much cobalt as the U.S. Not only that, but China was getting most of the cobalt ore from the DRC for smelting and refining. Now that will be done in the DRC, but China still needs material, more so now than ever.

jonny5

04-09-2007, 12:12 PM

still no update on CEO. Bodes ill if you ask me.

More PR shortcomings

Woody51

04-09-2007, 08:17 PM

I'm am quite sober tonight, the forum will no doubt be pleased to hear! Not really smart, talking down your own stock! But this company is "so" exasperating.

Both options and head shares down on the ASX today on more than average volume.

With no news on the CE - or anything else that's encouraging being reported by the company - you have to expect that the shares would slide. And similarly, there's no incentive to 'confidently' average down. There's not a lot of interest in the small explorers at present - people being very choosy in the post sub-prime climate.

We needed a lift around the AGM and because it didn't come we are looking 'very penny dreadful'. Let's hope this is the bottom!

I am still very disappointed the company did not see the obvious merit in putting out a media release about the cobalt IPO. Most punters just wouldn't be aware of it, nor the confidence being expressed re Chinese interest.

Maybe I will write one and post it on here. If management read this forum, and like it, they can have it for free!

I think our families will be wheeling us all in from the psyche ward for our get-together if HTM finally delivers ... At this stage AU 0.7c would be looking like a reason to celebrate!

Jess9

05-09-2007, 10:00 PM

Gold ticking up again - hit 690USD briefly yesterday.

On Broken Hill Cobolt Ltd...I wonder if HGD holders will get 'free' shares in this. I think the term 'capital appreciation' was used in a recent announcement. This of co**** may mean HGD holds what it can and waters down to paying new entrants. This might work nicely, especially if they lock down a new cornerstone investor - as they have indicated. If the latter occurs, is it worth getting a few extra shares/rights etc if the opportunity arises? Lets see the detail. I guess this is the reason for the delay to any formal announcement/detail. Be nice to finally value BHCL based on a fair value i.e. share price/market value (its currently recorded at bugger all in the accounts). Even if it comes in at a few cents it should support HGD's price quite well, and grow as the cobolt mine developes to cashflow etc.

Things have been quiet, but with a JV, uranium permits, and cobolt spinoff all within 12 months (HGD = NZO time) things are still looking good in my view. HGD also has less than 220m? shares on issue, while higher than a few years ago this is less than alot of other juniors. This means more $ for shareholders when we do realise some real value.

Golden dreams all! (...sounds better than glowing ones : )

BAPP

05-09-2007, 10:35 PM

Hi Jess9,

The cobalt price looks strong also with it hitting US$28.00 again.
Here is another extract that provides positive news for the future of cobalt.

I just hope HGD management can take advantage of this opportunity before it is too late.

More tomorrow, but since the news below was announced, the cobalt price has increased another 10%.

Cheers
BP:)

London 28 August 2007 12:18, BHP Billiton has booked cobalt sales amounting to more than 40 tonnes at prices as high as $25.60 per lb, marking what some observers think could be a turning point for the blue metal.

Cobalt prices had slid through the summer to their seven-month lows but BHP's sale last week as low as $24.20 could represent the bottom of the market, they said.

Enquiries increased substantially last week after BHP announced its cheapest sale since January 22, and the sales booked on Monday could represent a welcome return of optimism.

"The bottom of the market is here," a trader who bought two of the lots BHP sold on Monday told MB. "Cobalt's on the return."

BHP has sold to a number of parties --- at $24.50, $24.70, $25 and $25.60 --- and is now offering at $26.50.

"It's a high-grade push at the moment," said the trader, adding focus will soon shift to the low-grade market.

Norilsk Nickel booked 15 tonnes at an average of $23.61 per lb last week, but is likely to achieve higher prices this week, he said.

"As of yesterday they were still offering at $24 and if we don't take them out, someone else will," he said.

The flurry of activity coincides with a tender by superalloys producer Cannon Muskegon for more than 100 tonnes of cobalt for delivery next year.

Other consumers are also in the market for fixed price deals for 2008 as the summer doldrums draw to a close.

Traders could be buying metal from BHP to cover future demand and are likely to be betting prices will continue to rise, another dealer said.

"This could be the match" that ignites the market, he said.

croesus

06-09-2007, 06:34 AM

BAPP

06-09-2007, 08:09 AM

Thats all good BAP, but these guys remind me of the A/Bs at successive World Cups...they almost get there then they choke.

But Sarcasm aside... it is all very promising...Cobalt and Gold Price..... re AGM have you phoned Peter re the signing or not of Trent Lash ?? that should have been resolved by now.

No more word on the deal I speculated on a cpl of months back.

cheers C.

Hi Croesus,

I've had 'no word' on Trent Lash to date. Will be on the phone again today!

Things are looking very positive for cobalt at the moment as per extract below. HGD/BHCL management have to take advantage of their position quickly and I think the time is right now!

Lets hope they can get the BHCL IPO moving soon, with some specified detail to the markets and media!

There is plenty of Chinese interest in all Australian resources at the moment and they need a 'guaranteed supply chain' for cobalt just as much as many of the other commodities!

Cheers
BP:)

LONDON (Reuters) - Credit Suisse has opened a market in hi-tech metal cobalt to investors seeking a commodity contract that won't be buffeted by turbulence in other financial markets, the bank said on Tuesday.

Cobalt, a metal mined in Africa, Russia, Cuba and Australia, and used in batteries and aircraft engines, is not traded on an exchange, so until now the only way to invest in it has been to buy the metal and store it -- often not an option for hedge funds. But the new financially-settled contract launched in August by Credit Suisse makes it possible to buy cobalt without ever taking delivery of the metal, the bank told Reuters in an interview.

"It works likes other commodity contracts. For example, if you buy Dec 07 cobalt today at a fixed price of $24.80 and come December, the average for the month prices out at $30.00, then you net receive $5.20. It is purely cash settled," said Lorcan Cleary, Vice President in the commodities group at the bank.

Since cobalt is not traded on any of the world's metal exchanges, the contract is priced on data published by industry journal Metal Bulletin.

"We have taken the proactive step of providing access to a market in the absence of an exchange," Cleary said.

A cobalt contract makes sense now because speculators are looking for new products in which to invest after several years of pumping money into commodities.

While exchange-traded commodities such as copper and gold fell victim to the recent global financial turmoil that began with the collapse in the sub-prime mortgage sector in the United States, off-exchange metal cobalt is detached from shockwaves in other markets.

"One of the attractions of the 'new' commodity markets, such as cobalt, is that they avoid the short-term correlation that the more commonly financially-traded commodity markets are currently seeing," said Kamal Naqvi, Head of Hedge Fund Coverage in the Commodities group at Credit Suisse.

"Clients are seeing such markets as cobalt and coal as purer commodity plays." Among commodities, cobalt's fundamentals are especially attractive, Credit Suisse believes.

The bank has forecast that cobalt prices could spike to $40 per lb by the end of this year. High-grade cobalt now trades around $27 per lb, up 50 percent since September 2006 on strong industrial demand and tight supply.

"We expect the cobalt market to remain in deficit until the end of 2008, as supply struggles to keep up with strong demand," the bank said in a research report earlier this year.

The fact that around half the world's cobalt reserves are in the Democratic Republic of Congo, which has a history of extreme instability, is a key risk to supply.

"Going forward, the cobalt market could be further squeezed by supply disruptions, such as rising cost, declining ore grades, potential labour strikes, a lack of infrastructure support and political unrest in the DRC," the report said.

GLENCORE ALLIANCE

Credit Suisse can access a ready source of the metal thanks to its alliance with Glencore.

Through its shareholding in mining firm Xstrata and deals with other producers, this Swiss-based commodities trader has sales rights to a large chunk of the world's cobalt.

"The challenge for new commodity products is creating and maintaining liquidity. Through our trading alliance with Glencore, Credit Suisse is the only bank that is able to consistently source such liquidity in many of these markets," Naqvi said.

"We have plans to further extend the list of tradable commodity products going forward."

Among other commodities traded by Glencore are coal, and steelmaking additive vanadium, which along with cobalt is one of a group of substances collectively known as "minor metals".

Credit Suisse's move into cobalt comes at a time when several commodities trading firms are trying to break into minor metals, attracted by an outlook of rising demand and higher prices.

The global trend towards greater use of high-tech products such as laptop computers, flat screen televisions and catalytic converters, all of which contain minor metals, will raise the cost of these metals, merchants believe.

Jess9

06-09-2007, 10:23 AM

I think cobolt is in a up trend - if so, "HGD time" may even favour patient holders. Be nice if the cobolt trend spiked and stablised like uranium : )

Oiler

06-09-2007, 01:54 PM

BAPP

06-09-2007, 02:51 PM

Croesus.....re the signing or not of Trent Lash??

I believe with Heritage being a dual listed company on both the ASX and NZX there are different compliance/legal requirements that must be met before making any CEO announcements public.

Being a NZ domociled company, management will be more familiar with the NZX requirements rather than the ASX, hence the suggestion they expected to make the announcement to the market sometime early this week.

Trent Lash is on board :D It can only be the ASX requirements that are holding up the announcement.

Hi Oiler2,

Sounds like you're on to it... we should get confirmation fairly soon even 'given' the differing regulations!

Keep your eye on the cobalt over the next few months! Good things too come I think!;)

Cheers
BP:)

STRAT

07-09-2007, 11:35 AM

Keep your eye on the cobalt over the next few months! Good things too come I think!;)

Cheers
BP:)This is the most exciting aspect for me so I hope you are right BAP. Cobalt is one of the main components of Lithium batterys and we all know where that is heading in terms of the automotive industry.

STRAT

07-09-2007, 11:38 AM

LONDON, Reuters, by Daniel Magnowski (05 Sep 2007)

Credit Suisse has opened a market in hi-tech metal cobalt to investors seeking a commodity contract that won't be buffeted by turbulence in other financial markets, the bank said on Tuesday.

Cobalt, a metal mined in Africa, Russia, Cuba and Australia, and used in batteries and aircraft engines, is not traded on an exchange, so until now the only way to invest in it has been to buy the metal and store it -- often not an option for hedge funds. But the new financially-settled contract launched in August by Credit Suisse makes it possible to buy cobalt without ever taking delivery of the metal, the bank told Reuters in an interview.

"It works likes other commodity contracts. For example, if you buy Dec 07 cobalt today at a fixed price of $24.80 and come December, the average for the month prices out at $30.00, then you net receive $5.20. It is purely cash settled," said Lorcan Cleary, Vice President in the commodities group at the bank.

Since cobalt is not traded on any of the world's metal exchanges, the contract is priced on data published by industry journal Metal Bulletin.

"We have taken the proactive step of providing access to a market in the absence of an exchange," Cleary said.

A cobalt contract makes sense now because speculators are looking for new products in which to invest after several years of pumping money into commodities.

While exchange-traded commodities such as copper and gold fell victim to the recent global financial turmoil that began with the collapse in the sub-prime mortgage sector in the United States, off-exchange metal cobalt is detached from shockwaves in other markets.

"One of the attractions of the 'new' commodity markets, such as cobalt, is that they avoid the short-term correlation that the more commonly financially-traded commodity markets are currently seeing," said Kamal Naqvi, Head of Hedge Fund Coverage in the Commodities group at Credit Suisse.

"Clients are seeing such markets as cobalt and coal as purer commodity plays." Among commodities, cobalt's fundamentals are especially attractive, Credit Suisse believes.

The bank has forecast that cobalt prices could spike to $40 per lb by the end of this year. High-grade cobalt now trades around $27 per lb, up 50 percent since September 2006 on strong industrial demand and tight supply.

"We expect the cobalt market to remain in deficit until the end of 2008, as supply struggles to keep up with strong demand," the bank said in a research report earlier this year.

The fact that around half the world's cobalt reserves are in the Democratic Republic of Congo, which has a history of extreme instability, is a key risk to supply.

"Going forward, the cobalt market could be further squeezed by supply disruptions, such as rising cost, declining ore grades, potential labour strikes, a lack of infrastructure support and political unrest in the DRC," the report said.

GLENCORE ALLIANCE

Credit Suisse can access a ready source of the metal thanks to its alliance with Glencore.

Through its shareholding in mining firm Xstrata and deals with other producers, this Swiss-based commodities trader has sales rights to a large chunk of the world's cobalt.

"The challenge for new commodity products is creating and maintaining liquidity. Through our trading alliance with Glencore, Credit Suisse is the only bank that is able to consistently source such liquidity in many of these markets," Naqvi said.

"We have plans to further extend the list of tradable commodity products going forward."

Among other commodities traded by Glencore are coal, and steelmaking additive vanadium, which along with cobalt

http://www.mineweb.net/mineweb/view/mineweb/en/page36?oid=26615&sn=Detail

Jess9

07-09-2007, 01:02 PM

STRAT

07-09-2007, 01:19 PM

HGD 07/09/2007 OFFICE REL: 1312 HRS Heritage Gold NZ Limited OFFICE: HGD: Appointment & Notification of Allotment KEY APPOINTMENT BY HERITAGE GOLD Heritage Gold NZ Limited has today entered into a management contract with Endeavour Group Limited ("EGL"). Under that management contract, Trent Lash (a shareholder and director of EGL) will provide management services to Heritage Gold akin to those of a CEO. Heritage Gold is pleased to announce the appointment of Trent Lash as the company's new chief executive officer. Heritage Gold has been searching for a replacement since Peter Atkinson announced his intention to step down earlier this year. Mr. Atkinson will continue to act as a consultant for the company and remain a director of Heritage Gold. Trent has 15 years direct and indirect experience in underground and open pit mining for a range of mineral resource companies in Australia, Canada and South America. This included experience with the gold industry of Western Australia. Trent has a Bachelor of Applied Science in Mining (Hons) degree from University of Otago, and is a qualified civil engineer (University of Auckland). He has a strong track record of developing business strategies in the resource related sector. Heritage Gold chairman Geoffrey Hill says: "Trent's expertise in mining and geology will be of significant value to the company." Trent's previous roles include CEO positions in mid-sized public and private companies, and as divisional manager for large multinational organisations with a market capitalisation of up to $200 million. Trent says he is delighted to be joining Heritage Gold when it is entering a new phase, particularly with its gold mining projects near Waihi and its Australian-based projects in cobalt and uranium. "The gold mining industry is at an exciting stage of its development, making this the perfect opportunity to take on this role," he says. "Heritage Gold has a great deal of potential, in particular its ability to crystallize the value of its existing asset base and advancing the Waihi properties." The management contract is effective for three years from 1 September 2007 to 31 August 2010. The base payment is incremented annually in the second and third years by 7.5% and 7% respectively and an annual 10% performance bonus for achieving material advances in the Company or significant milestones is included. To incentivise performance under the management contract, Heritage Gold has today issued 8,000,000 Options to EGL. The Options are in three series: the first series being exercisable between years 1 and 4 after the date of issue, at 9 cents per option; the second series being exercisable between years 2 and 5 after the date of issue, at 12 cents per option; and the third series being exercisable between years 3 and 6 after the date of issue, at 16 cents per option. Termination fees apply if the Company or the Contractor terminates the management contract. Depending on the circumstances, the termination fee is a nine month payment for termination within the first twelve months and after twelve months the termination fee is three to six months payment. In announcing the new appointment, Mr. Hill took the opportunity to thank outgoing managing director Mr. Atkinson for his long serving contribution to the company. "Peter has been with Heritage Gold since it floated in 1986 and has been instrumental in guiding the company through from its formative years. We look forward to continuing to work with Peter in his capacity as a consultant to ensure a smooth transition for Trent."

BAPP

07-09-2007, 01:22 PM

Strat - as background that sounds great. Something to consider if holders have the choice to hold sell or accumulate spinoff shares (assuming this/or similiar occurs). Holding BHCL directly of course would give 100% exposure to cobolt (vs 33% or less after listing through HGD shares).

Hmmm...BCHL listing could be quite exciting, depending on the quantity and quality of the resource. BAP, any informal views on this, as of now?

Hi Strat & Jess9

Here’s some ‘food for thought’ or at least a compelling story for HGD management to ‘pitch’ to investors.

Research clearly indicates a new upward trend in the price of cobalt based mainly on supply difficulties globally.

A positive aspect for Broken Hill Cobalt Ltd and HGD is that China and several other Asian countries produce no or very limited amounts of cobalt.

They are reliant on importing the material to ensure their continued expansion and to keep production facilities functioning. At present they are sourcing a lot of their cobalt from countries that are politically unstable.

With recent supply uncertainty in the Congo the timing could be perfect for BHCL to progress a listing and further stimulate discussion with Asian interests.

The Chinese Premier and many other Asian dignitaries are currently in Australia and are visiting and meeting with*business leaders. Their search is on!

Asian based consortiums are investing heavily in mineral resource projects that will continue to ‘drive’ their homeland production facilities for decades to come.

Any mention of Asian ‘interest’ in a project is a ‘price driver’ and HGD and BHCL must seize the opportunity now.

We already know that there has been ‘positive’ discussions with Asian consortiums that are interested in acquiring cobalt concentrate. So any initiative at Broken Hill should be ‘off ' to a good start if they can secure a suitable product sale agreement.

From the AGM it was indicated that consultants have been contracted and are dedicating their time to developing the BHCL project and at the presentation it was indicated*that Pyrite Hill resource had a minimum production life of ten years.

Getting their ‘timing’ right is no doubt important, however there must now be an opportunity for the directors to create some awareness in the markets and media relating to the global outlook for cobalt .

The markets in general know very little about the uses for cobalt and it’s value. This could be a great opportunity for HGD and BHCL to create some awareness both through the media, to sophisticated investors and brokers.

For instance cobalt is critical component for much of our current technology, lithium-ion batteries, hybrid-powered vehicles, tyres, the medical and aerospace industries, are just a few of the areas that are very reliant on the constant ‘uninterrupted’ supply.

With the market price of cobalt sitting at US$28.80 at present and expected to climb to US$40 in the foreseeable future, what a great ‘pitch’ to be able to put to the investment markets, brokers and the media!

For HGD & BHCL shareholders we now just need some 'action' to make this all become reality!:D

IMO the 'processes' are all beginning to come together!;)

Cheers
BP:)

PS: IMO Mr Hill & Grigor will have very important 'roles to play' in the success of BHCL.

STRAT

07-09-2007, 01:29 PM

Lets hope the new part time CEO can light a fire under HRD mangement and get them out of their rocking chairs eh? :D:rolleyes:

BAPP

07-09-2007, 02:07 PM

Lets hope the new part time CEO can light a fire under HRD mangement and get them out of their rocking chairs eh? :D:rolleyes:

Hi Strat,

IMO, the incoming CEO will be focussing on the marketability/saleability of the gold resource at Waihi, rather than BHCL.

The development of BHCL will be 'driven' from Sydney, hence my comment regarding Mr Hill & Grigor.

BHCL is to be listed on the ASX and these two Directors have plenty of 'clout on that side of the Tasman.

I would suspect the first step before preparing a prospectus etc...will be to introduce some initial ‘backing’ finance sourced from sophisticated investors in Australia. Possibly sources already well known to both parties I quess?

Cheers
BP:)

PS: JUST RELEASED

OFFICE: HGD: Appointment & Notification of Allotment

KEY APPOINTMENT BY HERITAGE GOLD

Heritage Gold NZ Limited has today entered into a management contract with
Endeavour Group Limited ("EGL"). Under that management contract, Trent Lash
(a shareholder and director of EGL) will provide management services to
Heritage Gold akin to those of a CEO.

Heritage Gold is pleased to announce the appointment of Trent Lash as the
company's new chief executive officer.

Heritage Gold has been searching for a replacement since Peter Atkinson
announced his intention to step down earlier this year. Mr. Atkinson will
continue to act as a consultant for the company and remain a director of
Heritage Gold.

Trent has 15 years direct and indirect experience in underground and open pit
mining for a range of mineral resource companies in Australia, Canada and
South America. This included experience with the gold industry of Western
Australia.

Trent has a Bachelor of Applied Science in Mining (Hons) degree from
University of Otago, and is a qualified civil engineer (University of
Auckland). He has a strong track record of developing business strategies in
the resource related sector.

Heritage Gold chairman Geoffrey Hill says: "Trent's expertise in mining and
geology will be of significant value to the company."

Trent's previous roles include CEO positions in mid-sized public and private
companies, and as divisional manager for large multinational organisations
with a market capitalisation of up to $200 million.

Trent says he is delighted to be joining Heritage Gold when it is entering a
new phase, particularly with its gold mining projects near Waihi and its
Australian-based projects in cobalt and uranium.

"The gold mining industry is at an exciting stage of its development, making
this the perfect opportunity to take on this role," he says. "Heritage Gold
has a great deal of potential, in particular its ability to crystallize the
value of its existing asset base and advancing the Waihi properties."

The management contract is effective for three years from 1 September 2007 to
31 August 2010. The base payment is incremented annually in the second and
third years by 7.5% and 7% respectively and an annual 10% performance bonus
for achieving material advances in the Company or significant milestones is
included.

To incentivise performance under the management contract, Heritage Gold has
today issued 8,000,000 Options to EGL. The Options are in three series: the
first series being exercisable between years 1 and 4 after the date of issue,
at 9 cents per option; the second series being exercisable between years 2
and 5 after the date of issue, at 12 cents per option; and the third series
being exercisable between years 3 and 6 after the date of issue, at 16 cents
per option.

Termination fees apply if the Company or the Contractor terminates the
management contract. Depending on the circumstances, the termination fee is
a nine month payment for termination within the first twelve months and after
twelve months the termination fee is three to six months payment.

In announcing the new appointment, Mr. Hill took the opportunity to thank
outgoing managing director Mr. Atkinson for his long serving contribution to
the company. "Peter has been with Heritage Gold since it floated in 1986 and
has been instrumental in guiding the company through from its formative
years. We look forward to continuing to work with Peter in his capacity as a
consultant to ensure a smooth transition for Trent."

For further information please contact:

Peter Atkinson M: 021 630 463

Trent Lash M: 021 424 989

Woody51

07-09-2007, 02:48 PM

Good to see some movement at the station finally. Good luck to Mr Lash and all.

BAPP

07-09-2007, 02:54 PM

Good to see some movement at the station finally. Good luck to Mr Lash and all.

Hi Woody,

Maybe we should invite Mr Lash to contribute to this thread! Although I quess we may be a long way down the priority list!:o

Nothing like a few incentives for a keen young man though!(ha ha);)

Cheers
BP:)

Woody51

07-09-2007, 05:04 PM

Yes BAP - it's good he's giving it a lash.

You knew I was going to drop that line sometime!

I really am pathetic!

mccollr

07-09-2007, 07:27 PM

Good News and a great idea. He may get to know what the shareholders are thinking.:D

Oiler

07-09-2007, 07:43 PM

Good News and a great idea. He may get to know what the shareholders are thinking.:D

mccollr

I am sure he knows what we shareholders are thinking. He knows what he has to do to make the shareholders happy. :D

He is the man for the job, we all just need to give him a chance to prove himself.

Lets stay positive for HGD ;)

STRAT

07-09-2007, 09:23 PM

Lets stay positive for HGD ;)Hi Oiler, As much as it seems Heritage needs a rocket under em and young blood might be just what the doctor ordered its hard not to be positive with posts from BAP and Jess keeping morale up:D. If they loose heart all is lost lol:eek:

PS I enjoyed meeting you at the Share Trader Auckland gathering and regret leaving early but was truely not a well pup that night. Looking forward to a decent yarn with ya at the next one. If any other posters here are north of the bombays you should seriously consider going to the next one too.
A more friendly or charming gent than Oiler you will not find :cool:

Jess9

07-09-2007, 11:20 PM

That CEO announcement looks like a good starter. On the face of it, he appears to have the right experience and from comments made here the necessary energy and motivation to transform HGD. The option/equity incentive should make it worth his while to get HGD at least into the 20's in the short to med term. We know the value is there, our new CEO just needs to be focused on how best to bring it out. If he suceeds in this, early 20's of course maybe far to low, especially if we also hit a commercial uranium deposit next year, or the cobolt extends alot further than originally thought (wouldn't that be nice)!! HGD's days in the sun are getting closer. Things are indeed coming together. However, one step at a time for now, let the man settle in ; )

Welcome aboard Trent!

Oiler

08-09-2007, 12:33 PM

Hi Oiler, As much as it seems Heritage needs a rocket under em and young blood might be just what the doctor ordered its hard not to be positive with posts from BAP and Jess keeping morale up:D. If they loose heart all is lost lol:eek:

PS I enjoyed meeting you at the Share Trader Auckland gathering and regret leaving early but was truely not a well pup that night. Looking forward to a decent yarn with ya at the next one. If any other posters here are north of the bombays you should seriously consider going to the next one too.
A more friendly or charming gent than Oiler you will not find :cool:

:o:o:o thanks for those kind words Strat.

Strat we do need to chew that fat at the next meeting. From Chicago down the Mississippi to New Orleans, great music. We may even find some time to talk about share trading :D

off to the Wellington meeting this afternoon.

will miss the other 2 Amigos SC & Serpie.

Jess9

08-09-2007, 01:48 PM

Gold closed over $700 US : )

croesus

10-09-2007, 01:03 PM

Picked up some HTMs today.........will put them in the bottom drawer.

Jess9

10-09-2007, 08:04 PM

Well done Croesus, being patient paid off. I see there is still good depth building on ASX, a positive in the current overall market.

Jess9

10-09-2007, 08:06 PM

Gold USD $705 today - at least our NTA is rising ; )

BAPP

10-09-2007, 09:24 PM

Picked up some HTMs today.........will put them in the bottom drawer.

Good buying Croesus, at this price I might try to 'pick up' a few more myself.

All the signs (gold & cobalt price) are turning in HGD's favour at the moment, so I was a 'little' surprised to see the share price drop today? :confused:

With the positive resource prices, a new CEO, combined with news about the uranium permits just a couple of weeks away, I would have suggested an increase in share price was about to happen! (hmm!) You just never know-do you!

I'm sure the gold & cobalt prices will keep heading up for a long while yet and tomorrow is another day!:rolleyes:

Cheers
BP:)

BAPP

15-09-2007, 09:16 AM

With Gold and Cobalt prices looking positive, maybe we will see the HGD management starting to take advantage of their resources at some stage soon?

The 'buyer' volume looks strong on both the NZX & ASX, we just need some good news to push their 'bidding' price upwards.

Maybe the granting of the uranium licences at Dunmarra Basin may ‘set up’ another surge upwards in the next few weeks?

i understand that if the licenece applications are successful, drilling will start fairly quickly afterwards, possibly by November.

Cheers
BP:)

More uses for Cobalt -
Platinum Falls as Daihatsu Develops Fuel Cell Without Platinum
Publisher: Bloomberg
Author: Marianne Stigset
Sept. 14 (Bloomberg) -- Platinum fell in London after Daihatsu Motor Co. said it developed a new fuel cell that doesn't use the precious metal, prompting speculation demand may decline from carmakers, the biggest consumers.

Daihatsu, Japan's largest minicar maker, today said it is seeking to replace platinum with cobalt and nickel. A typical fuel cell for a car uses 200 grams, or more than six ounces, of platinum, the company said.

The announcement ''triggered some reactionary selling,'' said Rory McVeigh, a senior platinum trader at Commerzbank AG in Luxembourg. Still, ''I can't see myself driving a fuel-cell car for another 20 years.''

Platinum for immediate delivery fell $7, or 0.5 percent, to $1,289 an ounce as of 11:14 a.m. in London. Carmakers used about 4.2 million ounces of the metal last year in autocatalysts, equal to 62 percent of total demand, according to London-based metals trader Johnson Matthey Plc.

Palladium, also used by carmakers, slid $2.25, or 0.7 percent, to $330.50 an ounce.

To contact the reporter on this story: Marianne Stigset in London at mstigset@bloomberg.net

-END-

Jess9

15-09-2007, 09:08 PM

Demand for cobolt seems assured, which will underpin the price. Thanks BAP.

The other part of the share price increase equation is for HGD to quantify a nice big resource there. A 10 year mine sounds like a nice start (at Broken Hill). This I guess means that the the identified resource is at least large enough to be commercial, but the big question is how commercial? I would like a good steer on this ASAP, or at least an indication of what is planned and by when to provide some robust estimates.

One would assume that this is all part of the IPO package...this should be very interesting reading.

While eating those sausage rolls at the AGM and shmoozing, did anyone get an impression of the likely resource size at broken hill or scale of work in progress there?

Croesus, one might assume you think it makes holding HGD worthwhile - simply for its cobolt exposure/prospectivity? Would such a thought be correct?

Back to gold. I see it is nicely through the US$700 barrier. The run today on a UK finance co, can only push gold higher. Wonder how possible US 1000 is? At that level, I'd volunteer my own spade and weekends to help HGD find the stuff at Waihi quicker !

croesus

15-09-2007, 09:47 PM

BAPP

16-09-2007, 08:59 AM

Hi Jess and Bap and co,
I have a Jekyll and Hyde relationship with HGD, at times I curse at managements lack of nouse..their pathetic communication skills... lack of go forward... but I realise this will eventually work in my favour....enabling me to buy shares cheaply.....but.... it is still speculative... and probably only worthy maybe 1% or so of my investment funds...

If the Cobalt is there we may be sitting on a huge assett, as with the gold at Waihi... but odds on Peter and co will yet again F*&% it up.... will HGD shareholders get a benefit via the cobalt float... wouldn't count on it... will we give Waihi away for a few muskets and blankets.. probably....one only has to look at the pigs **** of a job they did with HGDCA warrents....

so yeah... to paraphrase "The Clash" should I stay or Should I go " f#$#% if I know. but for now I am staying
cheers Croesus

ps... WIDWA are in my view the best buy on the NZ market, and no, I am not saying why.. DYOR.

Hi Croesus,

I think the new CEO Trent Lash is in the position to 'breathe' some new life into HGD. It may take him a week or two to get the 'lay of the land' so to speak, but he seems pretty enthusiastic about the company’s potential the role he is undertaking.

I think we will start to notice his presence in the next few weeks as he starts to implement the strategies and directives coming from Mr Hill and Grigor. (I understand that Mr Grigor was very keen for some ‘new blood’ to be introduced into the company.)

The timing is ideal for Trent to create some momentum with the outcome for the uranium licence applications a matter of weeks away and the BHCL IPO in it's planning stages. I believe that drilling is taking place at Thackaringa and consultants are working through 'paperwork' for the listing.

IMO HGD need to move away from the 'sole' strategy of partnering with Newmont at Waihi. They need to 'go for gold' and establish resource levels that will support a stand alone production facility.

If they could 'double' the existing resource levels that would also improve the marketability of the entire project and bring in alternative suitors to Newmont. (several bidders would be better than one!)

It will be interesting to see whether Trent can convince the investment and broking community to take another look at HGD after years of slow progress.

There maybe some interesting weeks ahead IMO!;)

Cheers
BP:)

Jess9

16-09-2007, 11:37 AM

"If they could 'double' the existing resource levels that would also improve the marketability of the entire project and bring in alternative suitors to Newmont. (several bidders would be better than one!)" - BAP

BAP, this would be very sensible as it would put HGD in control of wealth creation, from Waihi.

HGD is relatively small, I hope Trent has that special "CEO" skill of understanding the global strategy as well as quickly being able to take a macro view to make it happen. What I measn is not getting lost in the unimportant detail. To be able to zoom down and focus coy effort on only the most key things (that matter and will add value) to make the strategy reality. This skill when used always generates strong results, and is what this coy needs to change in a positve way.

In the past I have felt that Peter has tried to do to much at the same time - with the result of spreading efforts too thin. In doing a little bit of everything, I feel what results is alot of nothing - from a shareholder value perspective.

Lets see if Trent and the Board's new strategy/energy can indeed change this. We should re-assess where HGD is in 12 months based on this key change to th constitution of HGD manerment/Directorship. Fingers crossed that hindsight will show that this is the tipping point and with a little luck we will be in multi-bagger territory by then!

Jess9

17-09-2007, 07:54 PM

Jess9

17-09-2007, 08:18 PM

Gold still over US 700

BAPP

17-09-2007, 09:32 PM

Ticking up in AUS today. Wonder if the heavy seller(s) over the last wee while have 'left the building'. If so, after a little more sitting it maybe time to head higher again. Considering recent market jitters buyer support remains quite strong, especially on the ASX.

Hi Jess9,

There is definitely some good signs, however we need that all important communication from the company.

There has been 'little' news released about the CEO appointment or the BHCL IPO. This is not good and only leads to second quessing and creates more sceptics.

I'm sure Trent is busy 'learning the ropes' so to speak, so lets hope he can get some information flowing through soon.

The outcome of the uranium applications is just a few weeks away also, so along with BHCL there is plenty of opportunity for him to create some renewed interest and momentum for the company.

Cheers
BP:)

Woody51

18-09-2007, 12:46 AM

Jess, BAP, I still wonder what's happening on the gold front. Gold is one sector that is still attracting money - after the recent market jitters. The Waihi JORC resource - and the promise of of an upgrade - is still the jewel in the Heritage crown, as far as I can see. Sure, Broken Hill MAY deliver a good return on our 33% interest - and the uranium play is a BIG unknown. But, without that gold, this company would have very little to show for years of work. If anything, it's the Waihi resource -and its promise - that's still underpinning the company.

For six months we have been teased about on-going work at Waihi - never any mention of rigs or anything on the ground, just technical talk about investigations of possible new rich veins etc.

I hope we will get some clarification on this soon. If the company really thinks the resource can be substantially expanded, then they should be out on the job, drilling their butts off like other gold miners. I find the current situation re Waihi quite bewildering, to be frank.

Trent has a few things to sort through, there's no doubt about that. But at Waihi and Broken Hill we do, at least, seem to have marketable resources. Many other small miners, with capitalisations much greater than Heritage, are still drilling and hoping.

All that's required is a hard nosed, professional and energetic approach to the project development and more contemporary and transparent communication with shareholders and investors.

The next three to six months will be most interesting. We'll have movement at the station on at least two of our three 'fronts'.

It is clear from recent communications with his clients, that Warwick Grigor is well aware of the inertia that had beset Heritage. The fact that he took on the directorship in these circumstances, is indicative of a guy who doesn't shirk a challenge. And as I have said previously, Warwick is a straight shooter, who respects shareholders and their interests.

Trent has some good operators to support him and I will be observing with excited interest, how the 'new' Heritage evolves.

Jess9

18-09-2007, 08:11 AM

Bang on Woody. Trent (and Warwick) also have the right financial incentives to be well compensated with share appreciation...we therfore wait (some more) and see. However, this time key ingredients have changed. So we might get a very different outcome to that of the past. Here's to action, results and significant share appreciation going forward then!

Greenfield

19-09-2007, 08:24 AM

US fed res cuts rates .5%, gold going to go ballistic, HTM need to pull finger and make hay while the sun shines.

theve had 21 yrs to relax, nows the time

STRAT

19-09-2007, 09:49 AM

US fed res cuts rates .5%, gold going to go ballistic, HTM need to pull finger and make hay while the sun shines.

I would have thought the opposite. Gold and Gold companies are usually a safe haven in hard times, arent they?:confused:

Greenfield

19-09-2007, 11:07 AM

something interestingto listen to.
http://www.bloomberg.com/news/av/

listen to marc faber, saying a US rate cut would be suicidal, i have alot of respect for this guy. alot of his predictions are spot on.

http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vCoNtU.D0pcE.asf

STRAT

19-09-2007, 12:17 PM

Hi Greenfield, I would have thought the opposite. Gold and Gold companies are usually a safe haven in hard times, arent they?:confused:Of course if the US dollar takes a fall gold will do well. Will be interesting to see how new found market optimism due to the FED cut of 0.5% v's falling US dollar balances out short term for gold stocks in NZ and Aussie

Greenfield

23-09-2007, 02:07 PM

Might be old news, but i was reading today that Newmont signed a JV(back in Feb) with GEL to explore areas west of the HTM region(Hauraki). They have a magnetic survey of the whole area done a while ago and are picking targets to drill. I wonder if there aerial magnetic survey would have covered htm's permit ares. Anyone know more?

They must think the region has potential. There JV gives them 60% by spending 1.5M.

Looking forward to the next update from HTM.

doon

23-09-2007, 10:55 PM

BAPP

24-09-2007, 10:08 AM

This thread has gone very quiet- looks like alot of people have given up on HTM/HGD.
I'm sitting on 200k, bgt some more recently, but starting to wonder if it is all worthwhile? Time for some action if all this gold resource is actually OK, gold is very strong at present so why isn't management doing something about getting it to market & turning it into $$. And not sure how valuable just 30% of the Cobalt interest is worth?

Hi Doon,

I don't think there is a lot that can be said at the moment.. that hasn't already been 'posted' several times before.

Over the next month or so it will be interesting to see how the new CEO Trent Lash 'positions' the company with regards to strategy and progressing the current projects.

IMO it has been disappointing that HGD hasn't already taken the first steps to create some additional 'market & media' awareness about Trent and his appointment to the CEO role.

The outcome of Uranium licence applications at Dunmarra should be known in the next few weeks and this could be the first stage of some resurgence.

I quess we are all 'left' a little unsure about the real value of HGD's gold & cobalt projects and until the company releases updated resource levels for both projects we can only speculate. (there lies the big ?)

However, IMO even if the resource level outcome for each project is half of what the projected estimates indicate the company has the potential to generate significant revenues and wealth creation.

Cheers
BP:)

Jess9

24-09-2007, 12:54 PM

Still holding and happy to do so, as I believe positive change is happening. There is a bit of a market standoff at present. Good buyer levels are there but willing to wait for sellers to come down. When this changes we will see a quick rise from where we are now. From a low base this could be profitable

BAPP

25-09-2007, 04:23 PM

With the anticipated announcement regarding the uranium exploration licences at Dunmarra Basin supposedly a few weeks away, it has been interesting to also monitor the share price of Kentor Gold.

KGL also applied for exploration licences at Dunmarra around the same time as Heritage and used similar 'reasoning' and strategy as HGD to secure funding for the tenement areas they propose to drill.

KGL share price has steadily climbed from 12 cents to 20 cents over the month. (some lucky shareholders!:))

Maybe HGD management could learn a bit by following their strategy?;)

I think it is about time we (shareholders) had some information from Trent about his vision and strategy for the company, along with what 'actions' are being taken to develop the projects already underway.(BHCL & Waihi specifically)

While Trent obviously needs some time to settle in to his new role, it has been disappointing that he has not communicated to the markets and media at all!:mad:

I was hoping HGD might 'change' their approach to presenting information under new management!:rolleyes:

Cheers
BP

ScrappyO

25-09-2007, 06:47 PM

KGL also applied for exploration licences at Dunmarra around the same time as Heritage and used similar 'reasoning' and strategy as HGD to secure funding for the tenement areas they propose to drill.

KGL share price has steadily climbed from 12 cents to 20 cents over the month. (some lucky shareholders!:))
Cheers
BP

Yeh BAP it's disappointing to see HGD under performing while others shoot up...Maybe it will be HGD soon.....Xmas is coming.

Woody51

26-09-2007, 12:29 AM

There's a lot coming up. Think we should give Trent and the new Board time to plot the best way forward. I'm sure they want to get it right, and let's face it, so do we.

Woody51

26-09-2007, 12:35 AM

BAPP

26-09-2007, 08:21 AM

BAP, think you'll find the geothermal play in Kyrgyzstan that's driving Kentor at the moment. Find I now hold three stocks exploring in Kyrgyzstan - what is it with that place? Still have to use the spell check!

Hi Woody,

I'm sure you're right regarding the geothermal ventures, however my point was more about KGL having a strategy that was 'paying off' and Heritage having a strategy that is ...??:rolleyes:

The two company's seem to have several similarities. They are 'grass root' explorers with gold and uranium prospects, yet one (KGL) seems to be developing steadily and the other (HGD) as gone backwards.

Give the management more time! How long does it take to provide shareholders and the media with some detail on the appointment of a new CEO and his visions?

It would take me about 2 hours to put together a press release and a letter to shareholders and brokers introducing Trent and providing some of his 'visions' for the company. We know very little about the new leader!:confused:

If Trent is working/planning the future strategy’s for HGD, he should have already told the shareholders exactly that!

I notice that KGL have recently released details about their geothermal and gold projects. In comparison, what has HGD told it's shareholders and the 'media' about the proposed BHCL IPO and furthermore what is the 'outlook' for Waihi after the 'successful' drilling results?

Actions speak louder than words, but it would be nice to know that there is 'actually' some action taking place.:rolleyes:

Patience is a virtue and we do need to give Trent and Warwick Grigor some time to make their 'mark', however management must not let opportunities 'slip by.'

Lets see what they come up with over the next few weeks!;)

Cheers
BP:)

PS: this is worth reading: http://www.theaustralian.news.com.au/story/0,25197,22467877-12265,00.html

croesus

26-09-2007, 09:15 AM

Hi Bap

Well put, can you email your last post to Trent. ?

regards Croesus

mibo

26-09-2007, 09:20 AM

Hi Bap
Well put, can you email your last post to Trent. ?
regards Croesus

Or better still, invite Trent to join ST so he can have direct communication with many shareholders at once...:rolleyes:

Oiler

26-09-2007, 09:46 AM

Or better still, invite Trent to join ST so he can have direct communication with many shareholders at once...:rolleyes:

mibo

Peter does read this thread so I wouldnt be surprised if Trent also takes a peek at what we ST posters have to say, given that collectively we have a significant vested interest in what goes on.

I am expecting we will see action before Xmas 2007 regarding BHCL and an update on Waihi prospects ;)

BAPP

26-09-2007, 10:33 AM

mibo

Peter does read this thread so I wouldnt be surprised if Trent also takes a peek at what we ST posters have to say, given that collectively we have a significant vested interest in what goes on.

I am expecting we will see action before Xmas 2007 regarding BHCL and an update on Waihi prospects ;)

Hi oiler2/croesus/mibo

I also expect some 'action' to be forthcoming in the next few months.. there has to be some!:rolleyes:

The time has also come for this management to 'stop' the ambiguity and second quessing by shareholders, by being forthcoming and concise about their plans and outlook for projects.

As you are aware I have a significant interest in HGD and I am very proactive with my comments and suggestions to the management. I am also aware that Peter & co probably have a 'peek' at this thread from time to time.

If you read the link on my previous post, I think the news article 'sums' it up nicely!

Within the next 3-6 months the new management must 'make the most' of their present opportunities, otherwise they may just 'miss the boat' IMO.

Cheers
BP:)

BAPP

26-09-2007, 08:21 PM

Just one more reason for HGD to make progress with the BHCL IPO this year!.

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

Cheers
BP:)

Jess9

26-09-2007, 08:45 PM

Thanks BAP. A pity HGD doesn't hold more than 1/3 interest. However, a piece of pie is better than none at all. The next question is how big is this cobolt pie : )

lager

27-09-2007, 12:51 PM

As I mention a few months back.
HGD need a new name so that the perception that Heritage is only involve in Gold didn't help the share price.

mibo

27-09-2007, 01:28 PM

As I mention a few months back.
HGD need a new name so that the perception that Heritage is only involve in Gold didn't help the share price.

How about HERITAGE MINERALS LTD

lager

27-09-2007, 01:44 PM

How about HERITAGE MINERALS LTD
Maybe a more royal name like Heritage Resource Holding (HRH) aka His Royal Highness.

croesus

27-09-2007, 02:41 PM

Maybe the H is short for "Hopeless"

whatsup

27-09-2007, 05:13 PM

HGD ann see!

etrader

27-09-2007, 05:25 PM

I have to say that is the best ann the hgd has made for ages. I hope that this comes to fruition.

Jess9

27-09-2007, 07:21 PM

To hear HGD articulate its shareholder concerns and a promise to sort them with such poignancy just brings a tear to my eye…good start team HGD, and don't worry we are watching ; )

ScrappyO

27-09-2007, 07:38 PM

HGD
27/09/2007
OFFICE

REL: 1701 HRS Heritage Gold NZ Limited

OFFICE: HGD: Trent Lash Appointed Executive Director

Heritage Gold NZ Limited is pleased to announce that chief executive Trent
Lash has today been appointed as managing director of the company.

Heritage Gold chairman Geoffrey Hill says: "I am delighted to announce
Trent's appointment as managing director of Heritage Gold. It is our
intention over the next two years to upgrade our existing prospects, develop
new opportunities and build a company that rewards its shareholders through
steady, sustained uplift in value."

Trent has an extensive background in the resources sector having built two
resource-related companies from the ground up. Over the past 15 years he has
been instrumental in transforming and restructuring companies for venture
capital and private equity groups in both Canada and New Zealand.

Trent says: "It is my intention over the next twelve months to improve the
marketability and commercial objectives of the company and realise the
underlying asset value of the company. Heritage plans to develop its existing
Coromandel gold prospects at Waihi, realize the value in its cobalt resource
at Broken Hill, Australia and validate the prospectivity of its Northern
Territory uranium interests."

"In the next twelve months we plan to undertake underground drilling of the
Talisman Mine project to bring it to a stage that would either engender
interest in joint venture development of the mine or provide us with a
platform to crystallize its value for our shareholders." The historic
Talisman Mine produced more than 1 million ounces of gold and 3 million
ounces of silver prior to its closure in 1992.

"We have set our sights firmly on developing our Broken Hill cobalt prospect
and expect to make an announcement as consultants reports become available in
the next few months," Trent says.

Heritage is currently in discussion with a number of parties interested in
securing cobalt concentrates. The spot price of cobalt has risen recently to
US$30 per pound, up from about US$20 per pound a year ago.

"We understand that we must change the market perception of the company by
developing well-conceived corporate strategies and executing on them. My
suggestion is to 'watch this space''.

Heritage Gold will provide further information to shareholders once the
overall strategic business plan has been finalised.

For further information please contact:

Trent Lash M: 021 424 898
Chief Executive Officer
Heritage Gold

ScrappyO

27-09-2007, 07:41 PM

"We have set our sights firmly on developing our Broken Hill cobalt prospect
and expect to make an announcement as consultants reports become available in
the next few months," Trent says.

December IPO might be cutting it a bit fine..Overall very happy with that ann..the new boy knows how to write an ann. Feel a lot better for holding hgd shares.

ScrappyO

27-09-2007, 08:12 PM

"We understand that we must change the market perception of the company by
developing well-conceived corporate strategies and executing on them. My
suggestion is to 'watch this space''.

BRAVO....

tobo

27-09-2007, 09:07 PM

HGD
(from ann)......we plan to undertake underground drilling of the
Talisman Mine project ...

underground drilling. Does that mean from inside the mineshafts? :confused:

Jess9

27-09-2007, 09:36 PM

Hi tobo. I have had this at the back of my mind also. At one stage HGD seemed to be preparing this mine for production, but then this focus lapsed.

From memory there were some very good ore grades located down there. I have wondered if some of those were in the 20g/t range (and I think the higher grades may have been) the likelihood of more along those veins etc seems likely.

This may be over simplistic, but to me this (Talisman) is therefore our best place to start. Adding to our existing resouce there while bringing the mine to permitted production capabily status etc seems like a likely way to spend some manoy to make alot more.

This approach at a gut level again seems rather sensible, considering HGD $ and HR restraints (which constrain any small cap/junior explorer). If Talisman can generate significant value, one way or another some funds from this can be used to bring out value in the next most undervalued asset...and so on. If this starts to roll share holders should be well rewarded for their patience to date. However, as Trent notes, a realistic timeline is 12 to 24 months. I like his words lets set the alarm, at least 40c/share by 2009?

Jess9

27-09-2007, 09:43 PM

I'm sure also that when HGD focused on Talisman and resourced to 100k, then again in stage 2 to 205k the share price headed North quickly, HGD may have lost way taking this to the next planned stage, however I wonder if Trent is keen to pick up where that staged resource upgrade/mining work stalled. Blow the dust of that old plan stay focused and finish it ! Why re-create the wheel etc...if we do hit 40 by 2009 Trent via his HGD options will also be a very wealthy man, and that wealth fairly earned.

tobo

27-09-2007, 09:59 PM

Yep, i'd be keen for him to be wealthy!!! cause I'm in for this ride.
Got some oppies too, so keen for sp to be in good shape by, say, next autumn. I am now feeling rather more confident about this eventuating.
- obot

Jess9

27-09-2007, 10:13 PM

Oppies provide excellent leverage - but this can go both ways. I flicked from oppies mostly back into heads, but they certainly can fly, especially if you enter at the right price. Regardless, almost 12 months remain so there's still alot of potential in them!

Jess9

28-09-2007, 09:51 AM

mistymountain

28-09-2007, 01:06 PM

BAPP

28-09-2007, 03:47 PM

There was an article in the independant the other day noting that gold has smashed through the 700 barrier and this indicated it was off again. Got to be good if this is the start of the next uptrend, especially if Talisman is HGD's immediate focus.

BAP - do you know if HGD still fully manages BHCL? If so I wonder what the other holder puts in.

I ask as I wonder what HGD get as compensation for this work ? i.e. are we working 2/3 for the other party, for no return other than the future benefit we may recieve from our 1/3 equity interest. I only ask as HGD have alot to work on, and all efforts should be applied to generating max HGD shareholder wealth.

If any one (shareholder or coy rep) could make an informed comment on this, it would be appreciated.

Hi Jess9,

From the AGM presentation and as far as I am aware, HGD fully manages BHCL and remains a 33% stakeholder in the venture.

The other (67%) stake holder is Southern Cobalt Ltd (SoCo). Remember SoCo, which I believe is controlled by HGD chairman Mr Geoff Hill is also the largest shareholder in HGD.

My understanding is that most of the 'current work' that is being undertaken for the BHCL IPO is in 'the hands' of consultants based in Sydney. I quess in this case the costs are dispersed between the two parties based on their % equity interest.(?) I will endeavour to make some further enquiries next week.

Also my quess would be that 'seed' funding has been sourced to get the initial stages of the investigation underway.

With regards to the BHCL IPO the details released at the AGM are covered on the website at http://www.heritagegold.co.nz/text/announce.html

On the announcements page have a look under the Powerpoint Presentation to AGM. The BHC project is covered from about Page16/17 from memory.

IMO this venture provides a positive outlook for all HGD shareholders assuming the consultants and management can confirm the accuracy of resource level targets.

In this area BHCL is exploring for several 'base' metals along with cobalt and as we all know this area is 'famous' for it's mineral reserves and there are records showing high mineral content in these tenement areas.

As always there is a certain amount of speculation and risk with 'grass root' explorers, but as Trent said in his announcement, 'Watch this space'.

Cheers
BP:)

BAPP

29-09-2007, 10:39 AM

Hi Jess9,

Following on from yesterdays post regarding BHCL, I thought this site might be of interest to you.

http://www.havilah-resources.com.au/mutooroo.html

As I said in my post, we all know the mineral history of the Broken Hill area.

Cheers
BP:)

Jess9

29-09-2007, 03:19 PM

Thanks BAP, it might be an idea to pick up a few extra BHCL shares when it is spun off.

A thought for Trent/Peter if watching...sometime back a Newmont toll arrangement was raised as possible. It would be a shot in the arm for HGD to conclude some level of this to start immediate shovelling of gold ore from Talisman. Perhaps only old "cutout rock" (stope/filling?) left unprocessed from previous Talisman mine operation so as to keep cost down and stay within consents?

With gold heading North of 700USD/oz even this volume could provide some cashflow now, but more importantly create some noise and give investors a taste of what is to come...action speaks louder than words and their is nothing like the first flow of gold to stir the market (and media ; ) to who HGD is and what is being accomplished!

Jess9

29-09-2007, 03:53 PM

This thread over the last year has been a consistently raised series of false optimistic hopes and alarms.

It reminds me of the boy who cried wolf.

I wonder why there haven't been performance targets set for company profit set by management to guide shareholders more constructively.

Obviously a risky share which could reap rewards but it would be great to have some realism rather than this seemingly endless cycle of hope...

Misty, I guess you also see the glass as "half empty"? ; )

HGD is what it is. An emerging explorer which could be sitting on some very valuable resource permits - in stable ole NZ and AUS. It has virtually no debt, some cash, new management/board reps, and resource which grows more valuable each day (gold, silver, cobolt). At 6c per share, for a piece of this, it may well provide future holders multiple returns. But as you rightly point out, with reward their is risk.

At the end of the day, each investor is responsible for his own investment choices - based on his vote in the market with each dollar invested, there is no arm twisting. If he makes good decisions he he gets to go home early, with a fist full of cash : ) To me, considering all this; I like HGD's chances, as do some others here and am comfortable to wait. Thats about the size of it. I wish you wealth in whatever "choice" you make!

BAPP

29-09-2007, 04:44 PM

Misty, I guess you also see the glass as "half empty"? ; )

HGD is what it is. An emerging explorer which could be sitting on some very valuable resource permits - in stable ole NZ and AUS. It has virtually no debt, some cash, new management/board reps, and resource which grows more valuable each day (gold, silver, cobolt). At 6c per share, for a piece of this, it may well provide future holders multiple returns. But as you rightly point out, with reward their is risk.

At the end of the day, each investor is responsible for his own investment choices - based on his vote in the market with each dollar invested, there is no arm twisting. If he makes good decisions he he gets to go home early, with a fist full of cash : ) To me, considering all this; I like HGD's chances, as do some others here and am comfortable to wait. Thats about the size of it. I wish you wealth in whatever "choice" you make!

A nice reply Jess9,

IMO the best we can do, is endeavour to post 'constructive' comments.
I have always tried to provide a 'balanced' view, while also providing links to any research I have done or found.

Mistymountain, any 'deductions' made from the posts on any thread are up to the individual. As they say 'DYOR'

Most of my decisions regarding HGD and BHCL have been made by talking directly to management and /or after investigatiing pages of information that are available to anyone who wants to look carefully!

Google is a wonderful tool for research.

Cheers
BP:)

PS: IMO the BHCL will be good value for HGD shareholders and if successful it will bring some credibility for the new management. I think we will know more around the end of October.

BAPP

01-10-2007, 04:00 PM

I thought this NBR article which has previously been 'posted' by underground (pg 30) was relevant with the BHCL IPO on the agenda.

With the price of cobalt currently being almost double (US$30/pound) the price noted in the article (US$16/pound) and expected to go higher yet, an IPO could create some vital revenues and investor interest for HGD.

IMO, just one of the reasons the 'glass' maybe starting to fill!;)

Cheers
BP:)
__________________________________________________ _

Heritage restructure enters second stage
The National Business Review - 01 December 2006

Cobalt interests could follow the decision to spin off gold assets
Hugh de Lacy

Hard on the heels of spinning off its Coromandel gold assets, dual listed explorer Heritage Gold seems to be preparing its Thackaringa cobalt holding at Broken Hill, New South Wales, for a similar fate.

Heritage is in the process of raising $1-1.2 million by spinning its gold discoveries, which are based on the historic Talisman mine near Waihi, off into a new Zealand-listed company to be called Mid-Earth Minerals.

In October the company announced a one-for-four pro-rata renounceable rights offer.

This closed on November 22 with the issuance of 24,420,201 shares at $NZ0.029 or $A0.025 each, raising $NZ669,350 before expenses.

This result has left the company with a shortfall of 12,642,232 shares that managing director Peter Atkinson said he expects to be mostly taken up by existing shareholders who have applied for extra entitlements.

The company has until December 31 to allocate any shares that do not get taken up by existing shareholders.

Mr Atkinson said he was "delighted" with the initial uptake of the issue "given that more than 50% of shareholders are based overseas."

He said the funds will be used for further exploration, for working capital, to advance the spin-off of the company's New Zealand gold properties and for further work on the Thackaringa cobalt project.

Though Mr Atkinson could not confirm it, it seems likely that Heritage intends selling its 33% interest in Broken Hill Cobalt, which is the 100% owner of the Thackaringa project managed by Heritage.

Thackaringa comprises two cobalt mining leases and an exploration licence.

Two prospects, Pyrite Hill and Big Hill, have inferred resources of about 15mt at about 0.1% cobalt to a depth of 100m, with further exploration potential both along strike and down dip.

Pyrite Hill has a minimum 10-year production life, and between it and Big Hill the Thackaringa project offers a total potential resource between 23 million and 32 million pounds, worth between $US360-480 million ($NZ540-720 million).

Cobalt is presently fetching about $US16/lb ($NZ24/lb), and the Pyrite Hill Stage One concept study envisages an opencast mine and concentrator at Thackaringa, with the concentrate being sold direct to China.

With additional income from feldspar and rutile, this would give annual revenues of $A48 million ($NZ55 million) comprising operating expenses of $A27 million ($NZ31 million) and cashflow of $A21 million ($NZ24 million), against a capital expenditure of $A42 million ($NZ49 million).

The project offers additional options of off-site and on-site processing involving potential capital expenditure respectively of $A59 million ($NZ69 million) and $A55-113 million ($NZ64-131 million).

Often referred to as "blue gold," cobalt is a specialty metal with uses ranging from batteries and pigments to the aerospace industry.
--------------------------------------------------------------------

ScrappyO

04-10-2007, 09:56 PM

Should be due for some announcements....BHCL Drilling and mapping results.

During the quarter, extensive mapping and sampling of prospective parts of the exploration licence were completed, and rock and soil samples submitted for analysis.

This one was back in july...
Several areas have been identified that warrant further investigation by drilling. Due to farming requirements on the land, the drilling programme has been deferred for two months, with arrangements in place to secure a drilling rig for the work.

Also from Dunmarra basin.....
Notices of proposed grant of the three exploration licence applications have been received and advertised for
objections. This process should be completed at the end of September 2007

With all thats going on we might have something to chew on soon.

Woody51

04-10-2007, 11:06 PM

Scrappy, one would hope so. Mind you, over the last 9 - 12 months they have implied they were doing a lot of things that I'm not sure they were, like drilling at Waihi. Anyway, I am "watching this space" and hold and hope.

STRAT

10-10-2007, 02:55 PM

Very quiet here on this thread of late, I hope the cobwebs dont grow over it as they have at Heritage. Which fairytale was it where a fella sat down under a tree and went to sleep for a few years? :p

doon

10-10-2007, 09:38 PM

Might be quiet here & on NZX, but definitely heating up on the ASX HTM last few days. ?? I'm very positive about some short/medium term prospects here. At around A$ 5c can't go wrong.

BAPP

10-10-2007, 10:41 PM

I understand there are some good comments being made about HGD/HTM on the 'Aussie' side of the Tasman at the moment, specifically with regards to the gold position at Waihi.

Maybe we(shareholders) just need a few 'timely' announcements with regards to the prospects at Waihi, combined with news relating to the Uranium permits at Dunmarra and the Broken Hill Cobalt project to revitalise some interest in this share!

I'm sure Mr Lash and the other Directors (especially those based in Australia) are working hard to change the direction of this company!

As Trent Lash indicated in his last press release.. 'keep watching this space'.

Cheers
BP:)

whatsup

11-10-2007, 10:18 AM

Interesting trade at opening today right off the bat , sign of things to come!

tobo

11-10-2007, 10:36 AM

May be unrelated but another of Warwick's U companies, Monaro, has been on trading halt for 2 days

whatsup

11-10-2007, 01:49 PM

Inching up still up 1.05c now

STRAT

11-10-2007, 02:17 PM

Inching up still up 1.05c nowYou had me excited for a second there but there is no volume. Someone is playing games or has no clue

mibo

11-10-2007, 03:34 PM

You had me excited for a second there but there is no volume. Someone is playing games or has no clue

Depends what you call high volume. 300k t/o on both exchanges is not too bad given recent times. Only 3 trades on each though. Could just be a sniff of things to come shortly...:D

STRAT

11-10-2007, 03:44 PM

Depends what you call high volume. 300k t/o on both exchanges is not too bad given recent times. Only 3 trades on each though. Could just be a sniff of things to come shortly...:DHope you are right but Im not getting too excited yet.

Oiler

11-10-2007, 06:32 PM

Hope you are right but Im not getting too excited yet.

C'mon Strat.... isnt there an ole saying "patience is a virtue" ;)

I think we are in for some good news in the next couple of weeks :D as Trent Lash says "watch this space"

I am a recent (6months) buyer so have time on my side and I can understand some of you longer holding investors getting impatient for some action.

Just hang in there........:)

STRAT

11-10-2007, 08:03 PM

C'mon Strat.... isnt there an ole saying "patience is a virtue" ;)

I think we are in for some good news in the next couple of weeks :D as Trent Lash says "watch this space"

I am a recent (6months) buyer so have time on my side and I can understand some of you longer holding investors getting impatient for some action.

Just hang in there........:)Oiler, If you have been in for 6 months then you are taking a bath on this pup like me:eek:

Jess9

12-10-2007, 07:25 AM

Gold up and over 750 USD today. Nice.

Re share interest over last day or two...I'm quietly confident that all is starting to finally play out. This could signal that the effects of significant change "at the top" are now just beginning to take effect.

Trent has options at about 9c, he will want the HGD share price (as we do) to be at the very least over 18c before these expire (two years?) - to get any real value/reward. As I, BAP, Croesus, and other longer holders have noted; HGD assets are well undervalued (even more so now gold, cobolt, and uranium are worth up to and over 100% more than they were a few years ago!) .

Trent, with our board's support simply needs to show the market that these are there, and that HGD now has the capability/skills to bring them to the market. Maybe the recent small lift is the first sign of this - as news starts to filter out ? ; )

BAPP

12-10-2007, 10:54 AM

Gold up and over 750 USD today. Nice.

Hi Jess9,

Good to see cobalt over US$30 per pound also.

With some good comments coming from the other side of the Tasman with regards to the gold prospects at Waihi it is a good opportunity for Trent to create some momentum for all the current projects.

Hopefully we might get a positive update on the Uranium & Cobalt projects in the next few weeks with the quarterly reports due at the end of October.

Cheers
BP:)

Jess9

12-10-2007, 08:56 PM

Got this today from share cafe:

Gold At US$1400/oz Within Five Years?

FN ARENA NEWS - 11/10/2007

UniCredit, a subsidiary of the German Bayerische Hypo- und Vereinsbank AG, believes the gold spot price can surge as high as US$1400/oz over the next three to five years.

Commodity expert Jochen Hitzfeld has drawn a comparison with other commodities such as nickel, crude oil and wheat to come to this conclusion. He says prices of other commodities have exploded over the past few years while being supported by three preconditions: continuing supply deficits, low inventories and low price elasticity of demand.

With all three preconditions in place Hitzfeld says commodities such as nickel, crude oil and wheat quickly "oriented themselves" at their inflation adjusted price peaks reached during the last bull market for commodities in the 1970s.

If one were to apply the same principle to gold than spot gold should reach as high as US$1,400 per ounce. Hitzfeld suggests this should be possible on a three to five year horizon. But even if gold were to fall short of this price level, he nevertheless sees the precious metal as a "very attractive" investment and believes it should not be missed in any longer term investment portfolio.

The analyst also makes an interesting observation with regards to gold's declining production/supply over the past few years. In reference to what he describes as a "relatively new idea", Hitzfeld suggests gold may simply have reached its final production peak. By definition, this should be the case when 50% of available resources have been mined. According to the US Geological Survey the number is already at 57%, which would support this thesis.

----

BAPP

13-10-2007, 08:26 AM

Lets just hope HGD management can take full advantage of the opportunities that they currently have 'simmering'.

Along with the improving gold price, cobalt is another commodity that is steadily rising.

If their estimated 33 million/lbs of cobalt resource at Pyrite & Big Hill is anywhere near accurate BHCL could generate revenues of over $USbillion, with a relatively cheap outlay and production cost.

Cheers
BP:)

LONDON (Metal-Pages) 11-Oct-07. The cobalt market continued to firm this week, with both BHP-Billiton and Norilsk Nickel moving up their website offer prices to $30 plus.

BHP-Billiton has made three sales this week at $29.90/lb and, subsequently, edged its offer price up to $30.25, just above psychological $30 mark.

Russian producer Norilsk Nickel increased its 99.3%-graded cobalt offer price to $30/lb, having sold 30.5 tonnes of material in five transactions to four customers at an average price of $30.29/lb last week.

It is 99.3% metal which is the most actively traded, and European traders say the bottom of this market is firmly at $29.50. The more bullish put the market for 99.3% at $29.75-30.50, with 99.8% at $30-30.50. The margin between the two is diminishing all the time, as 99.3% grades sets the pace.

Another indicator of prices this week was the United States Defense Logistics Agency (DLA), which put 52,862.49 pounds of surplus cobalt up for tender Wednesday. European traders said offers were made in the mid to high $29s.

Supported by booming demand and the added prospect of a Credit Suisse cobalt contract, prices are unlikely to take a dip in the near term.

BAPP

13-10-2007, 08:35 AM

Following on from the previous post, this is an extract from a article in the NBR last year.

At the time the cobalt price was ranging between US$16-$20/lb.

Today it is over US$30/lb! with demand increasing.

Cheers
BP:)

Thackaringa comprises two cobalt mining leases and an exploration licence.

Two prospects, Pyrite Hill and Big Hill, have inferred resources of about 15mt at about 0.1% cobalt to a depth of 100m, with further exploration potential both along strike and down dip.

Pyrite Hill has a minimum 10-year production life, and between it and Big Hill the Thackaringa project offers a total potential resource between 23 million and 32 million pounds, worth between $US360-480 million ($NZ540-720 million).

Cobalt is presently fetching about $US16/lb ($NZ24/lb), and the Pyrite Hill Stage One concept study envisages an opencast mine and concentrator at Thackaringa, with the concentrate being sold direct to China.

With additional income from feldspar and rutile, this would give annual revenues of $A48 million ($NZ55 million) comprising operating expenses of $A27 million ($NZ31 million) and cashflow of $A21 million ($NZ24 million), against a capital expenditure of $A42 million ($NZ49 million).

The project offers additional options of off-site and on-site processing involving potential capital expenditure respectively of $A59 million ($NZ69 million) and $A55-113 million ($NZ64-131 million).

Often referred to as "blue gold," cobalt is a specialty metal with uses ranging from batteries and pigments to the aerospace industry.

Woody51

14-10-2007, 08:51 PM

I understand Far East Capital put out a very positive research report on Heritage last week. I'm confident we have turned the corner and have a lot to look forward to over the next 6 months.

Yme

14-10-2007, 11:36 PM

Woody51

15-10-2007, 01:58 AM

Yes, Croesus was worth a few points of a percent at one stage. Agree, re Aust elections. Anyone who thinks uranium exploration projects will be encouraged, or flow, under Rudd , needs their heads read. The (Labor) 'greens' will rule.

BAPP

15-10-2007, 07:41 AM

it's goin down to test the low Woody51,,,

failure to hold the low is going to can this for a long time yet as another higher low will need to be created ,,,next year maybe ,,,,lol ,,,,2012 (?).

why is Northland a 33 billion dollar mineral resource sleeping,,(waiting for 2012),,

don't they realise there's lots of company's scratching around for U in the N.T. and we're going into an election over here ,,,

many are bailing from U company's that have a resource ,,and what have we got ,,applications for permits to look ,,,forget U ,,,it's over!!!!!!

sentiment:hold/reduce ,,,sell on any rumour provided by Croesus ,,

Yme

Hi Yme,

I would suggest that when considering 'grass root' explorers as a speculative investment the 'beauty' of HGD is that the company is not reliant on any one resource commodity.

The positive 'vibes' that came out of Far East Capital last week related to the Waihi gold resource and development of existing mines and drill areas, and it is suggested this area will be developed further, especially given the current price of gold.

It will take several years for the Northland permits to be developed, that the nature of the game, so from a market viewpoint this area doesn't really come into any equation at this point.

The uranium 'play' at Dunmarra will also take a few years to develop assuming the permits are granted, however the cobalt at Broken Hill is getting closer to production and HGD needs to take advantage of this under rated commodity while there is plenty of demand.

IMO the share price over the next 12 months will be determined by how well HGD can manage the different resource areas and how quickly they can advance the BHCL IPO and the gold & silver resources at Waihi to production capabilities.

I quess the new CEO, Trent Lash will be working hard to make his options 'worthwhile' in that time.

Cheers
BP:)

Yme

15-10-2007, 09:34 PM

Hi Bap n Woody51,,,

if the Far East news came out last week ,,,,and therefore now considered "old" news would one of you mind letting me and the other loyal bulls see the snippet on HGD/HTM ,,,

please

Yme

Jess9

16-10-2007, 05:51 PM

Yeah, if anyone can cut and post the report - or provide a link to it that would be great.

Woody51

16-10-2007, 10:03 PM

Jess, hopefully the company will get permission to post it on its website. I understand FEC visited the Waihi tenements a few weeks back and say there is no doubting the quality of the gold exploration ground. Say there is very promising high-grade potentially waiting to be assessed. The right time in the gold cycle - and see HTM as a promising, inexpensive gold play. What is clear is that the sleeves are finally being rolled up and over the next 6-12 months the drills will be busy. I'm told the report goes into a lot of detail and outlines various scenarios for going forward. Also very positive about Trent Lash's skills and experience. All music to my ears.

etrader

17-10-2007, 09:20 PM

Given the record highs again in Gold is shows there is a value in hgd in the future, like you its not know the time frame on these things. Will be intersting to see what asset value is realised out of the Cobalt float, given the fact that they will retain ownership in some % it could help bolst the asset value. And lastly awaiting details about uranium updates up north oz.

ScrappyO

18-10-2007, 08:02 PM

http://www.heritagegold.co.nz/PDF/Broker_Pres_Oct07.pdf
Latest broker presentation.

scottle

19-10-2007, 05:36 PM

Hi all,

I'm a long time reader of this thread and holder of HGD. This is however my first post. Thanks for all the information and enthusiasm which has kept me going through the (hopefully not much longer) lows of the HGD story.

I found the following article from Mineweb this afternoon in a Google search:

***Article Begins***

JUNIOR MINING
NOW SEEKING CAPITAL
Heritage's new broom to step on the gold exploration pedal
New Zealand epithermal gold explorer, Heritage Gold, has been in the penny stock range, but has served and maintained its prime targets at the base of the North Island’s Coromandel.

Author: Ross Louthean
Posted: Monday , 08 Oct 2007

PERTH -

Trent Lash, the new Chief Executive of Heritage Gold NZ Ltd, began an Australian tour of stockbrokers and fund managers in Perth Monday on a quest to raise capital and the market profile of the company which listed in 1986.

He told Mineweb that the intent is to raise adequate funds for extensive exploration programmes - perhaps between $NZ1.5-2.5 million ($US1.14-1.9 M) -- to undertake detailed exploration on the company licences that envelop Newmont Mining's Martha and Favona mines in Waihi; extend drilling at the old Karangahake mine and plan deeper drilling of Rahu which is on the same structural system of Karangahake.

Lash--who has spent 15 years in the civil and mining engineering sector--said that in the coming 12 months, Heritage plans to undertake an extensive geophysical survey on its extensive holdings at Waihi with the main focus on hydrothermal alteration targets at Waihi North and at Golden Valley, south of Newmont's new Favona underground mine. The budget for this work would be about $NZ700, 000 ($US534,100).

More extensive drilling will be undertaken on the old Talisman mine at Karangahake near Waihi where Heritage has already established a resource of 204,760 ounces gold and 798,840 oz silver.

He said the way forward with this project, where Heritage has recovered access on a main adit and recovered the workings, may be to consider several options including a joint venture. (Karangahake is close trucking distance to Newmont's now hungry Waihi mill, but no arrangement has been made by the two parties).

Rahu has long been seen as a classic epithermal target and short drilling phases by Heritage over the past five years have given encouraging to significant results. Lash told Mineweb that a review shows there is a need to drill deeper holes at Rahu.

Meanwhile, work is still on hold on the Northland tenements, north of Whanganui at the top of NZ's North Island, as some of the licences are still applications. Last year the previous management of Heritage was looking at having subsidiary Northland Minerals Ltd, which holds the ground, listed.

Meanwhile partner So Co Ltd--which holds the Pyrite Hill cobalt project, south west of Broken Hill in New South Wales--is working on a proposed IPO with a plan to have this cobalt and nearby lead-zinc-silver targets listed by the end of this year. Heritage retains a 33% interest in the project, while So Co is made up of a syndicate that includes Heritage's chairman Geoffrey Hill.

The company's recently acquired asset was a right to earn up to 75% in a group of uranium licences in the Dunmarra Basin in Australia's Northern Territory.

Lash took over as managing director last month from the company's founder Peter Atkinson who has agreed to remain a director and consultant to the company. Atkinson was also the driver behind developing the country's mining lobby, the NZ Minerals Industry Association.

***Article Ends***

Looks like some more dilution coming our way before anything hapens.

S

ScrappyO

19-10-2007, 06:22 PM

Looks like some more dilution coming our way before anything hapens.

S

Maybe...I would like to think we will at least get something from BHCL especially since its been in the pipe line for at least 4yrs.

Yme

20-10-2007, 05:03 AM

thought i'd share this with you guys

Trent Lash on the CNBC ,,,when i played it there was some add/ marketing prior to the interview

http://www.cnbc.com/id/15840232?video=563991788&play=1

regards
Yme

Woody51

21-10-2007, 02:28 PM

YME, thanks for that. Trent was excellent, the interviewers just dead thick!

etrader

21-10-2007, 11:16 PM

Was the clearest direction i've seen from the company in some time also the article above publically stating more funds being raised in near future, i have no problems with dilution in shares given the fact that the additional capital will stimulate the company as a whole long term giving all current share holders an uplift in share value. Obviously we could have a chance to participate in that offering.

Still would like to see concrete info on the cobalt ipo and the hgd value that arrives out of it.

Movement on a j.v for waihi, looking at the logic newmount with the reduction in gold left out of their current mine the assets would prove logical for hgd to form a j.v on mining it out.

Think we need to as shareholders give feedback to the company in terms of clear p.r that the public can see, and ongoing direction to us as shareholders to get some stimulation in the s/p.

I'm still currently holding a wad of these shares and know like Bap that you need to take a minimum of 12 - 18 months view on this company.

mistymountain

24-10-2007, 09:47 PM

Well I have been holding these for more than the 12 - 18 months and despite all the hot air on this thread nothing is moving.

Even with the 20 % increase in the price of gold over last month.

Patience ? What about those missed opportunities with other growth companies.

Jess9

25-10-2007, 07:08 AM

Your right Misty Mountain, but that is with the benefit of hindsight, which would make this sharemarket game a very easy proposition ; )

I too would have been happier if the 10c+ level had been maintained during the following period; when HGD management/board have been consolidating their new direction. However, this level and speed of appreciation does indicate what is likely to happen again, when HGD lines all its ducks up correctly; which is what Trent and the team seem to be doing right now.

HGD hit lows of 4cAUS a few weeks ago, perhaps on an investor or two exiting. However since then, HGD is gaining solid buy support and buyers are now are sitting over 5c with no sellers willing to take this. If this imbalance progresses, some good news could see a quick move up again. The key which I'm picking to release this (and I accept I have laboured this - but it is very significant) is the new Lash/Hill/Grigor combination, and their level of consistent progress achieved which needs to be communicated clearly to the market. This would be a massive change to our previously sedate investment vehicle. On this score, a "speeding ticket" (or two) from the NZX/ASX would be a great indicator for us : )

I'm still happy to hold (and have purchased more options of late) and am comfortable the right stuff is being done underneath, now - of course this will only be proven by market announcements and positive reaction to these.

I wish you profitable investing,

J9

BAPP

25-10-2007, 07:49 AM

[QUOTE=Jess9;170274]Your right Misty Mountain, but that is with the benefit of hindsight, which would make this sharemarket game a very easy proposition ; )

Hi Jess9,

Yes... hindsight is a marvelous thing... but most of all, I wish I could find a 'crystal ball' that actually worked.;)

Looking ahead we should have a couple of announcements early next week with the quarterly reports and half year due!

It will be 'nice' to have an update on the current projects!

Cheers
BP:)

Woody51

25-10-2007, 10:31 AM

Wish they would do something about that terrible website. It's a cobweb. Reflects very badly on the organisation IMO.

JBmurc

25-10-2007, 11:01 AM

the biggest plus is having- Wawick Grigor on the board-I've heard from many different sources that he's a genius in his feild-If he leaves be worryed
He is also on the board of PEN which i hold.
Might have to pick- Peters brain on HGD- some more soon

tobo

25-10-2007, 08:55 PM

Interestingly, activity in two other WG companies: PEN just got some new management too (new COO, new exec chrman, & new technical director), and MRO m&a (merging with UKL).
WG is indeed a strategic influence.

Hold HGD, PEN, MRO rollercoasters (although they are in the flat bit ATM)

STRAT

26-10-2007, 02:58 AM

Wish they would do something about that terrible website. It's a cobweb. Reflects very badly on the organisation IMO.LOL Woody, Dont you mean "reflects very accurately" :p

Woody51

26-10-2007, 09:25 AM

BAPP

26-10-2007, 10:48 AM

Point STRAT. The Internet is a company's most important communications tool.
Can you imagine me recommending this stock to someone and directing them to a website that is years out of date? Don't think so. If I had taken over as HGD CEO, the site upgrade would have been one of my first priorities. A couple of days work - and a few grand - and its done.

Hi Woody51,

You 'hit the nail on the head'!

A few grand and a couple of days work could have easily provided a valuable communication tool for investors/brokers and shareholders.

If a new/updated web site is on the managements agenda I hope they do a better job than they did with the recent powerpoint presentation for Brokers.

However as I always suggest, e-mail your comments to Trent, I'm sure he will take note of any 'constructive' feedback!

Cheers
BP:)

STRAT

26-10-2007, 12:35 PM

Woody51

26-10-2007, 01:40 PM

etrader

26-10-2007, 01:42 PM

BAPP

26-10-2007, 07:34 PM

It's my firm belief that Lash can deliver, hgd as we've discussed is sitting on underlying assets many many times their cap value, a clearer structure of managment, 3 pronged approach on resource. Will just have to give it time as he settles in to get things moving, we're all hoping.

Hi etrader,

I tend to agree.

As shareholders we all have an interest in the success of each of HGD's projects.

IMO this stakeholding has always been a medium to long term investment so most holders will need patience. (As we know, big risk sometimes = big reward!)

With Trent Lash and Warwick Grigor 'on board' it would not surprise me to see things progress quite quickly over the next 6 months, especially once they have their strategies and drilling programs in place.

Trent has been in the job just 2 months, so lets ‘cut him some slack’. With announcements due next week I’m sure we will get a better indication on the overall progress being made and his 'personal touch' on reporting.

While I was disappointed with the ‘Broker’ power point presentation, the important point is whether it served it’s purpose! I quess we will be able to make a clear judgement on this point over the next few months.

I remain very confident about the medium term outlook for HGD and currently I'm quite happy to keep holding while also looking for opportunities to accumulate.

I suspect I might have a 'little bit' of time left!;)

Cheers
BP:)

doon

26-10-2007, 10:14 PM

Realise that STRAT - no worries. BAP, that Powerpoint presentation looked like it came out of the 1950s. I know, I was around haaa.

If there are no decent PR people in NZ they should look at Field Public Relations in Adelaide, who have successfully promoted lots of OZ miners for many years. Their work is tops. And lets face it, whether you are in Perth, Darwin or Auckland, it's all done online these days including proofing and design checking etc. http://www.fieldpr.com.au/

I haven't got a huge problem with the PDF Doc "Stockbroker Presentation Pack October 2007" if that is what you refer to. I'd rather they got on with the business than spend alot of money on flash 'spin'. I think most of us on this site who are into Heritage are aware of the medium term potential, so any short term spin is only encouraging short term share spikes, and that's not necessarily what I am looking for- though nice when adding up day/weekly portfolio values! I am sure Heritage is going to be very good to us all short/medium term, 'watch this space' to quote.
Checked out the fieldpr web site. For a 'top' public relations business with 'leading edge communications', online, I find it interesting their site has absolutely nothing but a brief cover page? (Maybe the site is down for maintenance?) No links, no info, no refs to past/present clients, not even an email clickable link. I think the theory may be if you are really interested in using them they may consider whether they want to include you in their client list, if you are clever enough to copy & paste their email address or pick up the phone & call them. Guess this is the trendy way to go, keep it brief and get the interest etc, not my thing! Hope HGD management spend their/our money on getting something happening rather than a bit of glitz please. The sooner the better. The PR will take care of itself with some good progress.
Will agree however the web site should be up to date, the 'Investor Info' dated 30th April 2007 HTM AU$ 0.078 is a disgrace. Doesn't need to be too flash, just correct, remember they are a exploration/mining company.
No ones going to get my shares till they are alot more than they are now! And I reckon they will be alot more by Xmas, and I will still be a shareholder even then.

BAPP

26-10-2007, 10:57 PM

I haven't got a huge problem with the PDF Doc "Stockbroker Presentation Pack October 2007" if that is what you refer to. I'd rather they got on with the business than spend alot of money on flash 'spin'. I think most of us on this site who are into Heritage are aware of the medium term potential, so any short term spin is only encouraging short term share spikes, and that's not necessarily what I am looking for- though nice when adding up day/weekly portfolio values! I am sure Heritage is going to be very good to us all short/medium term, 'watch this space' to quote.

Hi Doon,

I put my hand up as the one who was critical of the 'broker' presentation pack used by Trent.

My point is: If you are going to do something, then do it right!

For example: You can spend $500 of time and labour on a cheap and amateur presentation that wastes shareholders money or you can spend $800 on a presentation that makes your audience rethink their previous position/concept on a company. (the old saying goes, do it once .. do it right).

Otherwise I totally agree with your comments.

As you say and to quote the CEO, Trent Lash.. Watch this space!

Cheers
BP:)

doon

26-10-2007, 11:21 PM

Thanks BAP for your response, appreciate your's & others 'sensible' opinions- that's what these forums are all about. My comment wasn't intended as a prod at anyone in particular. Hope the rampers etc stay away, or keep on the other sites!
I may be wrong, but I think the difference between a '$500 or $800' presentation would not be relevant. I think HGD/HTM would have to spend considerably more than this for a swished up presentation, which I would find hard to justify at present if I was in Trent's place. I know you used these figures 'figuratively', but I think actions speak louder than words, so bring it on Trent & the team! My earlier comment about my holdings has been increased of late, so look forward to some good news.
Rgds.

Jess9

27-10-2007, 11:19 AM

what will be telling is how much stock they place and at what price. For example, there is minimal effort in placing well below market, but if the message was well delivered, a modest premium could be obtained for larger allocations - as one would argue this is still a good deal as a buyer, to get such an amount all at once could well push ther HGD share price even higher.

A good placement price will also support the current market price, and vice versa.

Jess9

27-10-2007, 10:08 PM

ScrappyO

28-10-2007, 09:29 AM

Just an article on newmont wanting to expand the martha mine...not to much detail but interesting

http://www.stuff.co.nz/4253397a11.html

BAPP

28-10-2007, 10:12 AM

SPOT MARKET IS CLOSED
opens in 33 hrs. 6 mins.
Oct 26, 2007 13:29 NY Time
Bid/Ask 783.50 - 785.00
Low/High 783.50 - 785.00
Change +16.50 +2.15%
30daychg +55.70 +7.65%
1yearchg +186.90 +31.33%

Wow! Up USD16.50/oz today. 800USD/oz is getting close : )

What should that make our 205,000 oz of "in ground" gold resource worth per share?

Hi Jess9,

IMO a gold price of US$800/oz should equate to around 30-40 cents per share!....
and many would suggest that the gold price will head higher yet.(US$1000+)

I also note that both cobalt and uranium prices are nudging upwards also.

But as we all know, the HGD's share price 'hinges' around what management can create from these opportunities and their exploration projects.

Trent Lash has the incentive and background, so I'm sure he'll be working on strategies that 'unlock' the value of these opportunities and create shareholder wealth.:)

With quarterly announcements due out soon maybe we'll have some positive news regarding the gold, cobalt and uranium projects.

The 'objection date' for the 'U' licences at Dunmarra Basin has passed and I understand that drilling should commence quickly. Also with Dec 07 marked as the IPO date for BHCL you would expect some details on these projects fairly soon.

Cheers
BP:)

duncan macgregor

28-10-2007, 11:00 AM

The price of gold has to go up simply because it is measured in a dropping currency. To get an accurate rise or fall measure it in the currency where you mine it. The American dollar is going down the gurgler in comparison to the Australian and NZ dollars so keep things in context. The NZ dollar is 7% lower than the Australian dollar in 2007 so far, which would make the price of gold less atractive in that country. When your money is worth very little, buy gold, which basically has kept a similar buying level for hundreds of years. I would think that in a hundred years time gold will still have a similar value that it did a hundred years ago in the past. It is the profit margin in mining the gold not the price of it in a different currency that counts. Macdunk

BAPP

28-10-2007, 11:29 AM

Jess9

28-10-2007, 12:22 PM

Just an article on newmont wanting to expand the martha mine...not to much detail but interesting

http://www.stuff.co.nz/4253397a11.html

Hi ScrappyO

"Newmont Waihi Gold is in the final stage of drilling around Waihi Central School, which lies on the western side of the Martha mine.

The company is trying to establish whether the gold-laden veins of quartz that disappear into the walls of the mine continue out the western and eastern sides."

It begs the question, what about that north wall - which I think our permit abuts ; ) Maybe a JV is getting closer i.e. early nxt year?

Jess9

28-10-2007, 12:51 PM

BAP wrote:

"IMO a gold price of US$800/oz should equate to around 30-40 cents per share!....
and many would suggest that the gold price will head higher yet.(US$1000+)"

Exactly why I asked the question. One sometimes forgets we actually have in ground resource right now, and at todays prices this is worth a bomb!

As a starting point, if you take 205,000 oz and assume it all was sold tomorrow for $1000NZ that would equate to 205 million NZ dollars of gross revenue for HGD. Split that over the share cap (about 220m now?) and it indicates that a basic one year gross revenue/gold asset backing of 99c per share is there.

My question (above) was therefore really posed as to how you broadly but fairly discount this figure to reflect the quality of the resource and where it is etc now. I ask this as the gold price has moved very significantly over the last 5 years (from 250 to almost 800USD/oz) but HGD's shareprice, which in theory is underpinned by this hasn't.

My guess for the 205K BAP, is near yours at around 25-30 cents (a discount of about 75%). And what is also exciting is that this loose estimate is just for we have actually have located already at Waihi - not anything beyond and above : )

One wonders why such a financial translation was not a key message in the recent broker presentation (or did I miss this slide?). Trent indicates that realising the Waihi resource is a key focus for him, and I would empatically agree. But surely, for the intended audience (brokers and investors) it makes sense to sell the financial benefits vz risk that this is planned to release, and in what time frame. At the end of the day a an investor whats max gain for minimal risk. Perhaps this could have come across stronger. Anyway lets see what flows from here.

Jess9

28-10-2007, 12:55 PM

It is the profit margin in mining the gold not the price of it in a different currency that counts. Macdunk

Hi DM. So is a 75% discount from inground value (being at Waihi, in an existing mine structure and close to possible JV processing facilities) within ballpark, from your experience?

duncan macgregor

28-10-2007, 03:15 PM

Hi DM. So is a 75% discount from inground value (being at Waihi, in an existing mine structure and close to possible JV processing facilities) within ballpark, from your experience? At the moment it has a PE ratio of 12.12 and a dividend yeild of zero. The share price is lower than it was three years ago so therefore to make this a buy, you must find something that has dramatically changed to brighten up its prospects. The price of gold is up in real terms, but the cost of production has risen due to higher fuel costs. NZ is not a good place for mining companies in general, with a greenie biased govt, so before i would consider buying i would have to see something a bit more substantial in the reserves and grades of its in ground reserves. With further downside likely in the NZ dollar i think there are much safer mining opportunities on the ASX. Macdunk

BAPP

29-10-2007, 05:15 PM

MINE: HGD: Heritage Announces Big Plans for 2008

Heritage Gold (NZX:HGD / ASX:HTM) one of New Zealand's leading (dual-listed) mining companies announced today that it plans to significantly advance the exploration of its gold permits in 2008 funded by a new capital raising programme.

Heritage Gold intends to conduct extensive and thorough airborne and ground geophysical surveys of its Waihi North, Waitete and Golden Valley permits, particularly those areas adjoining the Martha and Favona operations of Newmont Gold.

Trent Lash, Managing Director of Heritage Gold said that the Company is
taking a strong, focussed approach to its exploration programme with drilling of key gold tenements to be carried out during 2008. The 2008 programme is planned for completion by the end of June.

Heritage plans to use advanced ground-based geophysical technologies,
supported by standard geological survey techniques to focus on areas where the airborne data indicates the potential for gold bearing structures. This data obtained from this suite of techniques should closely define drill
targets for its follow-on drilling programme.

The Company also proposes to extend its geological survey of the Talisman and Dominion Knoll permits this year as well as undertake deeper drilling on the Rahu permit.

The 2007 drilling programme at Rahu yielded near-surface anomalous gold
values of up to 1.34 grams per ton across intersections of 2m.

Heritage is also evaluating surface drilling of the known quartz vein
structures that are an extension of the Maria and Crown lodes of the historic Talisman Mine with the objective of delineating additional resources to those determined from underground drilling in 2005/2006.

To fund this comprehensive and focussed exploration programme Heritage plans to raise A$3.2 million by private placement as well as a rights issue to its existing shareholders.

"Heritage has developed a strategic and sound business-based perspective in how the Company will apply its exploration funds. We are focussed on using our capital where it offers our shareholders the greatest potential for
creating value from the mining assets that Heritage has in its portfolio,"
says Lash.

Heritage Gold will also allocate a portion of the funds to carry out
preliminary exploration of the Company's base metal prospects in Northland
and conduct reconnaissance drilling of its uranium licences in the Northern
Territory.

The private placement will be raised by issuing 36 million shares at a price
of A$0.045 per share with attached options on a 1:2 basis at an exercise
price of A$0.080 per option and a term of two years.

The rights issue will be offered to shareholders on the same terms as the
private placement.

The timing and full details of the rights issue are being finalised by the
company and will be advised to shareholders as soon as possible.

Heritage Gold intends to seek shareholder approval for this placement at a
special meeting that will be called in late November.

ENDS

For further information please contact:

Trent Lash, Managing Director, Heritage Gold, Ph +64 9 303 1893, mobile +64
21 424 989.

Julien Leys, JML Communications, Ph +64 9 358 2828.

whatsup

29-10-2007, 05:21 PM

whatsup

29-10-2007, 05:23 PM

What are hgd head shares worth now .04-.045 !!!

etrader

29-10-2007, 05:37 PM

BAPP

29-10-2007, 06:39 PM

Holy H@ll, when asked at AGM if the recent rights/warrants had been a disaster and the answer was "NO" while at .062 and now a rights issue at .052 no wonder VERY VERY VERY few of the warrants were taken up by the exs and top 15 shareholders, how do we feel now BAP!!!!

Good thanks, whatsup!:)

There was never any doubt that extra funding would be required if the Waihi permits are going to be developed further and I really don't mind picking up options in 2 years at a better price than the CEO.;)

I also quess there should be more to come in the next few days regarding other projects, so I'll wait a bit longer before making a total assessment!

Cheers
BP:)

Oiler

29-10-2007, 06:56 PM

Hi Whatsup, can see your point re .04c but remember that was oz, so around .053. Gives a good chance to buy in at a discount. Otherwise sit on what you have and I'm sure other private investors will pick these up.

Yes the rights issue was not a good one as the heads had dropped coming up to that making it unviable.

I wouldn't worry to much about dilution with this announcement..... I think this was maybe a "management strategy" ...get the not so good news out first and then release the good news.. the cobalt IPO ! by then we all forget about the minor dilution pain ;)

Jess9

29-10-2007, 09:43 PM

The great bit of news was that the Waihi gold work was to be completed by June 2008, a reasonable deadline. It also noted a focus was to be on the areas around Newmonts existing strikes...if this shows rich extensions...JV on the cards.

Also noted shareholders entitlement is via a rights issue, if BAP is correct and we get more good news over the next wee while the share price might get a boost (i.e. uranium pernmits granted/IPO announed for Broken Hill Cobolt), therefore the difference between 4.5AUS and market will be your premium on each right (assuming renounceable). Also was it a 2:1 option attached? If so, that on each right is also worth anything from 2-4c per option based on recent past prices. A few things to consider if you are to buy or sell before the rights vest. So it should be an interesting week or two ahead ; )

Jess9

29-10-2007, 09:48 PM

I pick a 1 for 5 or 6 rights issue for holders.

tobo

29-10-2007, 10:28 PM

Private placement 36m shares @ A4.5c = A$1.6m
Total target to raise is $3.2m,
so 36m shares for all of us holders.

So yes, agree that would be 1:5.8 if all holders took full rights (would they be renouncible?)

hold:HGD + O

whatsup

30-10-2007, 08:56 AM

E trader I was meaning .04-.045 NZ !!!

whatsup

30-10-2007, 09:02 AM

The issue wont be renounceable as they will be offered to existing shareholders first with any shortfall taken up via the "private placement" so in some regards this is under written., sort of under pins my confidence.

etrader

30-10-2007, 12:39 PM

A little better than expected with shares up 3% to 063, given the pricing on the rights issue i was expecting shares to trade down a little today. Hmmm maybe some investors see this as a good op.

blackcap

30-10-2007, 07:43 PM

bit of a fallacy etrader... they are offered in AUstralia at 4.9 cents which equates to about 5.8 cents in NZ. So see them trade lower tommorow on this one expects

etrader

30-10-2007, 07:48 PM

fair point blackcap, however i note oz often trades just below nzx with conversion. I guess more investors on this side of the tasman buy and sell.

Time will tell

BAPP

31-10-2007, 12:40 PM

HGD
31/10/2007
QUARTER

REL: 1040 HRS Heritage Gold NZ Limited

QUARTER: HGD: Second Quarter Activities Report

Quarterly Report to 30 September 2007

Heritage Gold is pleased to present this quarterly report for the period
ended 30 September 2007.

Highlights of the last quarter include:

- Appointment of a new Managing Director
- Granting of three prospecting permits in the Northland region, New Zealand

- Completion of a comprehensive geochemical soil sampling programme at
Dominion Knoll
- Granting of two exploration licences in the Dunmarra Basin, Northern
Territory proceeding

New Managing Director

In September, Trent Lash, a Mining and Civil Engineer with 15 years
experience in the international mining industry, accepted the position of
Managing Director.

The Board and new management have been diligently crafting a strategy of
corporate renewal and shareholder growth over the next three years. This
includes a strong commercial focus on solid development of the company's
exploration programmes in 2008 with the objective of building shareholder
value in the key gold properties around Waihi.

Three Prospecting Permits For Gold And Base Metals In Northland

The total area that the company now holds under permit is 338,800 ha. In 2008
the company plans to undertake ground reconnaissance exploration in each of
the permit areas.

Gold Tenements In Waihi Region Of New Zealand

During August and September a detailed ground geochemical survey was carried
out in the Dominion Knoll permit, part of the Karangahake group of permits
that includes: Talisman, Rahu and Dominion Knoll.

The soil sampling programme was designed to delineate the surface expression
of the St Patrick's Vein Zone. Results to date have outlined a NE trending
strongly gold-in-soil anomalous zone over a strike length of approximately
1km. In the course of the programme, sampling of an old mine dump at the
northern extension of the zone assayed 17.6g/t Au and 23g/t Ag.

The results of this first phase of the soil sampling programme are
encouraging and will be extended to better define geochemical anomalies and
help delineate drill targets in what the Company regards as the southern
extensions of the vein systems in the Talisman Mine.

Comprehensive Exploration Programme Planned For Waihi Region

Beginning November 2007, the company plans to carry out extensive high
resolution airborne and ground geophysical surveys over its tenements to the
north and east of Newmont's Martha and Favona mines at Waihi.

Heritage Gold's Waihi North tenement lies immediately adjacent to the Martha
open pit, near its northern pit wall and extends approximately 10 km to the
north and north-east. Previous low resolution airborne magnetic surveys have
indicated that the zone of hydrothermal alteration that hosts the Waihi gold
deposits extends into Heritage's property.

Two holes that were drilled within 200m of Newmont's Mining Licence boundary
by Heritage in 2003 intersected strong hydrothermal alteration of the same
type as that at Martha This confirmed the company's belief in the potential
for the continuation into Heritage's ground, of similar mineralised
structures to those found at Martha.

The company plans to follow up the airborne magnetic and radiometric survey
with advanced, ground-based resistivity and magnetic techniques and
geological mapping to target potentially mineralised structures at depth.
This work will allow Heritage to define drill targets for a deep diamond
drilling programme that it plans to carry out in the immediate vicinity of
the Martha Pit. It is envisaged that approximately 1,500m of drilling will be
undertaken and completed by mid 2008.

Heritage also intends to carry out similar surveys on the Golden Valley
tenement that lies on the eastern boundary of Newmont Gold's permits. This
land holding of 5,000 ha contains a number of anomalies that indicate
potential for gold-bearing, hydrothermally-altered zones beneath post mineral
cover. Deep drilling of these anomalies will also be carried out.

Dunmarra Basin Licence Applications In Process Of Granting

No objections were raised to the granting of two of the company's
applications for exploration licences in the Dunmarra Basin in Australia's
Northern Territory and it is expected that exploration licences 25871 and
25872 will be granted shortly.

Heritage plans reconnaissance drilling of these tenements in early 2008, in
the vicinity of water bores in the area, to test identified radiometric
anomalies.

Thackaringa Cobalt Project (33% interest)

Heritage has a 33% equity in the owner of this project, Broken Hill Cobalt
Limited.

Broken Hill Cobalt has advanced the project through the final stages of
resource assessment; evaluating a treatment process and identifying a process
for commercializing the project. A valuation of the project has been prepared
to assist listing of Broken Hill Cobalt on the ASX by December 2007.

There has already been strong interest from a number of Chinese parties in
taking the cobalt as pyrite or cobalt concentrate.

A geological report prepared by Eaglehawk Geological Consulting (EGS) on the
exploration licence that forms part of the Thackaringa project suggests
excellent potential for Broken Hill style base metal deposits, with some gold
and tungsten.

Geological evaluation of the area beyond Pyrite Hill and Big Hill has
outlined highly anomalous values for lead/zinc/copper/tungsten in surface
gossans. EGS believe that the area is under-explored and that the geological
structures in the vicinity of Pyramid Hill and Himalaya represent significant
potential for Broken Hill style orebodies.

Jess9

31-10-2007, 12:56 PM

Good work HGD team - nice to see some specific actions and timeframes set out. The stated actions appear logical to achieve be best bang for buck. Nice one!

BAPP

31-10-2007, 01:45 PM

Good work HGD team - nice to see some specific actions and timeframes set out. The stated actions appear logical to achieve be best bang for buck. Nice one!

Hi Jess9,

Sounds like we might have some details regarding the BHCL listing fairly soon and it will be interesting to see whether HGD shareholders get any 'special' incentives.

With new 'capital funding' underway I quess management's timing couldn't be more precise.:)

Cheers
BP:)

mistymountain

31-10-2007, 07:01 PM

Reading through the report brought some hope that at last we may have some time deadline targets to assess HGD future acheivements.

Time targets give direction and accountability.

i like the reference to shareholder value given the patience everyone here has shown over the last few years.

Good to see Uranium price inching back up and gold tracking upwards again too...

doon

01-11-2007, 09:53 AM

"The Court of Appeal ruled in favour of anti-mining group Coromandel Watchdog, paving the way for a continued ban on mining in conservation and coastal zones of the peninsula."
NZ Herald today. http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10473376
Is this going to affect HGD in any way?

BAPP

01-11-2007, 05:09 PM

I note that along with the security notice below, that some of the top 20 shareholders have been increasing their holdings over the last few months.
see page 6 of the Broker Presenations Oct 07 link:
http://www.heritagegold.co.nz/PDF/Broker_Pres_Oct07.pdf

REL: 1142 HRS Heritage Gold NZ Limited

SSH: HGD: SSH Notice From Geoffrey Guild Hill

NOTICE 29403 DETAILS

Submitted Date : 01-Nov-2007 11:38
Status : Accepted

Substantial : Y Director : N
Add Holder : N Change Holder : Y
Ceased Holder : N Change Nature : N

Issuer Code : HGD Heritage Gold NZ Limited
Holder : Geoffrey Guild Hill

Address : 19D Hoi Kung Court
: GloucesterRoad
: Causeway Bay
Country : Hong Kong

Contact Name : John De Gouveia
Phone : 6129107020

Total of Interest : 31,916,425
Total Issued : 213,552,905
Total % : 14.94%

Class : HGD
Votes Attached : 1

Beneficial
Total of Interest :

Non Beneficial
Total of Interest : 31,916,425
Current % held : 14.94%
Last % held : 14.57%
Names : Soco Limited ("SOCO") PCP Securities Limited ("PCPS")
HFT Nominees PTY Ltd ("HFT")
Provisions : As Above
Transaction dates :
Total Votes : 20,000,000 SOCO, 5,590,100 PCPS, 6,326,325 HFT
Considerations : Nil Shares acquired, Nil Shares acquired, 1,326,325
shares acquired $A59,684.63

STRAT

01-11-2007, 05:13 PM

I note that along with the security notice below, that some of the top 20 shareholders have been increasing their holdings over the last few months.

Hi Bap, Im wondering wether they know something we dont or perhaps they are just topping up given the tragic state of the SP. Let us hope its the first

BAPP

01-11-2007, 05:33 PM

Hi Bap, Im wondering wether they know something we dont or perhaps they are just topping up given the tragic state of the SP. Let us hope its the first

Hi Strat,

The top 20 hold approximately 4.5 million more shares than they did 3 months ago, this equates to around 2.5% more of the company.

I can only speak for myself, but as most are aware I like the prospects for BHCL so have acquired steadily, even though my average price has been 'pushed up' in recent times.

Based on recent announcements I would anticipate knowing fairly soon whether I made the 'right call" or not!;)

Cheers
BP:)

Jess9

04-11-2007, 09:12 PM

From Kitco.com Sunday night:

Bid/Ask 806.00 - 806.80
Low/High 806.00 - 806.80
Change +15.80 +2.00%
30daychg +76.80 +10.53%
1yearchg +189.70 +30.78%

: )

It just cracked 800 USD

tobo

06-11-2007, 08:54 PM

Cracker!

onwards and upwards.

ScrappyO

06-11-2007, 10:06 PM

Cracker!

onwards and upwards.

Yes...Very nice...

I'm hoping we will get an ann on BHCL listing before the special meeting in two weeks..It will mean shareholders will get something from it i reckon. I'm sure they won't want to upset us before the meeting....Unless they wait until after the meeting.

STRAT

07-11-2007, 08:41 AM

Oiler

07-11-2007, 10:59 AM

BAPP

07-11-2007, 02:38 PM

Anyone else find this funny? :D

From last nights ann

The meeting is being called to ratify the issue of up to 36,000,000 fully paid ordinary shares at a price of AU$0.045 or NZ$0.054 to sophisticated investors (in Australia) and/or professional or habitual investors (in New Zealand)

It would seem Australian Investors are a cut above NZ investors :D:rolleyes::D

Hi Strat,

This 'wording' often makes me smile when I see it used, however I believe this terminology is simply to cover the compliance rules for the different stock exchanges with Heritage listed on both the ASX & NZX.

Although I do wonder how one become's a 'professional habitual and sophisticated' investor?;) - I might get in with the habitual criteria-I have a habit of buying HGD shares!:D

Following yesterday's notice I quess one could expect to hear some news about BHCL fairly soon.

If the intention is to list BHCL in Dec 07, management will need to get things rolling soon. As ScrappyO mentoned, what better way to keep shareholders agreeable.;)

Cheers
BP:)

BAPP

07-11-2007, 03:22 PM

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

LONDON (Metal-Pages) 06-Nov-07. Cobalt market players were mostly bullish on Tuesday with traders noting that low grade material is getting more and more expensive.
The price for Russian material was quoted at around $30-31/lb and aerospace material was quoted at $30.8-31.1/lb.

"The market is very buoyant, there is a great deal of expectation it will go up," a trader said. "There is regular business compared with last year, people are not baulking at the price and we expect the market to go higher, it could go to $34/lb in the next few weeks," a trader said.

Another trader reported there had been a reasonable amount of business conducted for Russian material, and regular spot enquiries for high grade material amounting to about 50 tonnes in the last few days.

"The quantities traded are quite large, industrial demand is strong from catalysts, hybrid cars and the aerospace sector. The high price of gold attracts investors to metals including cobalt. If the investors come in it could go to $40/lb next year or even to $50/lb or $60/lb," the trader said.

However, an major enduser said that he had purchased a lot of 99.5% grade metal at $29.50/lb and was surprised to hear quotes were only above $30/lb.
He also reported that he purchased 99.3% grade material at $29.50-29.75/lb.

"The cobalt spot market for prompt delivery is dead, as everybody scratches the last grains of its last drum of cobalt before buying one single new drum
-- people are buying on a hand-to-mouth basis," he said.

mibo

07-11-2007, 03:35 PM

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

mibo

07-11-2007, 03:39 PM

http://cobalt.bhpbilliton.com/graphics/wmcChart.jpg

whatsup

08-11-2007, 02:09 PM

Anyone suggest what the issue ratio will be?

ScrappyO

08-11-2007, 04:32 PM

Rights issue.

http://www.asx.com.au/asxpdf/20071108/pdf/315pz7sd4vp8fv.pdf

ScrappyO

08-11-2007, 06:41 PM

Looks like HGD have spruced up that Broker presentation.

http://www.heritagegold.co.nz/PDF/Broker_Pres_1107.pdf

BAPP

08-11-2007, 08:40 PM

Looks like HGD have spruced up that Broker presentation.

http://www.heritagegold.co.nz/PDF/Broker_Pres_1107.pdf

Hi ScrappyO,

Yes it looks like things are starting to happen on all fronts. It's definitely more appealing than the previous effort and I suspect the website maybe on the list for improvement in the near future also.

Now we just need some 'good' news to flow through and move the share price upwards. :)

Gold, Cobalt and Uranium prices are all heading upwards, so I think this helps vindicate management's decision to diversify the resource asset base.

Junior explorers in 'Aussie' seem to be on a roll at the moment and several IPO's have been fully subscribed, so it maybe the right time for BHCL.

The price of cobalt is very positive and has gone to $31.50 per pound. If the resource estimates for BHCL are close to accurate this could lead to significant profits for the company if the price was to remain steady over the next few years and production is efficient.:D

The potential is definitely there, lets just hope Trent and his team can create some shareholder wealth sooner rather than later!

I'm confident they will!;)

Cheers
BP:)

Jess9

09-11-2007, 08:09 AM

ScrappyO

09-11-2007, 10:27 AM

I think the shareprice will sit around its placement level until it is out of the way - then it could move forward, in line with successes from spending that money on the right stuff. Bottom line - good opp to get a few more if you believe.

Jess9, Im hoping the BHCL listing will give us a few cents on top of the placement level. If they are going to list in december they might want to give us an announcement pretty soon.

BAPP

09-11-2007, 03:10 PM

Jess9, Im hoping the BHCL listing will give us a few cents on top of the placement level. If they are going to list in december they might want to give us an announcement pretty soon.

Hi ScrappyO & Jess9

I quess management still have about a 10 day open 'window' if they are planning to list BHCL in December, so hopefully we may have some detail and a prospectus before the shareholders meeting.

A positive BHCL 'entitlement' for HGD shareholders would hopefully have some positive impact on the current share price, which inturn could also create a good incentive for shareholders to take up their full 'rights' entitlement with regards to the new issue.:D

I quess it's all in the timing!

Any thoughts?

Cheers
BP:)

ScrappyO

09-11-2007, 08:56 PM

Some poor soul has these options which expire in 11days.

Options:
3,600,000 exercisable on or before 20
November 2007 at NZ$0.08 each

ScrappyO

09-11-2007, 09:10 PM

A positive BHCL 'entitlement' for HGD shareholders would hopefully have some positive impact on the current share price, which inturn could also create a good incentive for shareholders to take up their full 'rights' entitlement with regards to the new issue.:D

Cheers
BP:)

I would like to think with the new approach that management are taking that they will release some news. Im sure most long term shareholders will be taking up their issue regardless what happens.

"Watch this space"

BAPP

09-11-2007, 09:21 PM

I would like to think with the new approach that management are taking that they will release some news. Im sure most long term shareholders will be taking up their issue regardless what happens.

"Watch this space"

I hope your right! I will be, though you probably already knew that!;)

You may also be interested in this link.
http://www.heritagegold.co.nz/PDF/ASX081107_App3.pdf

Also if you search the HGD website(announcements) I think you will find out who holds the options you noted in your previous post.

Cheers
BP:)

doon

09-11-2007, 10:31 PM

Hi ScrappyO & Jess9

I quess management still have about a 10 day open 'window' if they are planning to list BHCL in December, so hopefully we may have some detail and a prospectus before the shareholders meeting.

A positive BHCL 'entitlement' for HGD shareholders would hopefully have some positive impact on the current share price, which inturn could also create a good incentive for shareholders to take up their full 'rights' entitlement with regards to the new issue.:D

I quess it's all in the timing!

Any thoughts?

Cheers
BP:)
BAP, could you elaborate on the 'open window' or time to list please? I have been concerned as if they hoped to list BHCL this year thought we would have heard something more concrete by now? There is no mention on ASX web site on the 'upcoming floats' section. And this quote is from ASX we site:

"The amount of time taken to list can range from three months to two years, with six months being typical.
The road to an initial public offering (IPO) usually involves the following steps:
Step 1: Appoint advisers
Step 2: Talk to ASX
Step 3: Prepare and lodge prospectus
Step 4: Apply to list "

Considering we have only about 6 wks b4 Xmas, I would think they are starting to run short of time to get everything done this year? What step do you think they ae up to now?
Appreciate some comments, thanks.

BAPP

10-11-2007, 10:34 AM

BAP, could you elaborate on the 'open window' or time to list please? I have been concerned as if they hoped to list BHCL this year thought we would have heard something more concrete by now? There is no mention on ASX web site on the 'upcoming floats' section. And this quote is from ASX we site:

"The amount of time taken to list can range from three months to two years, with six months being typical.
The road to an initial public offering (IPO) usually involves the following steps:
Step 1: Appoint advisers
Step 2: Talk to ASX
Step 3: Prepare and lodge prospectus
Step 4: Apply to list "

Considering we have only about 6 wks b4 Xmas, I would think they are starting to run short of time to get everything done this year? What step do you think they ae up to now?
Appreciate some comments, thanks.

Hi Doon,

In my post, I was also inferring that management was 'running' short of time for a listing this year and based on the steps you have highlighted it is easy to see why.

My 'open window' comment is my 'quess' on the time they have left to prepare and establish a listing before Xmas.

I believe that management is currently preparing a prospectus, so if they can produce this and 'sort' the listing details with the ASX within the next week to 10 days (open window) they may just manage to make the ASX 'board' before Xmas.

As you say,- there is only 6 weeks to make this happen, probably on 5 weeks in reality. IMO BHCL would need to be listed by 14th Dec to give a week of trading before the holiday season starts.

I would also suggest that if they don't list BHCL prior to Xmas we may end up waiting until February or possibily later which would be unfortuante IMO as it will leave shareholders sceptical about the management and possibly bring back memories of the proposed MEM listing which never eventuated.

I think we will know the likely outcome before the shareholders meeting!

Cheers
BP:)

etrader

10-11-2007, 12:09 PM

I wonder if a quick way to fast track the process is to backdoor list via a shell on the asx, I'm sure hgd have looked into the timing factor and know something we don't about this process of timing.

Will be good to see concrete evidence on the ipo and how it will effect the value of hgd over short/medium term.

Jess9

10-11-2007, 03:40 PM

Lets get the placement/rights issue sorted first. I dont have a problem if the actual listing occurs after xmas, as long as we get all the details and dates before. At least we will all have some time over the xmas break to have a good look through it. Early next year might also mean the markets have settled, and cobolt $ is higher.

tobo

10-11-2007, 04:10 PM

Would expect HGD holders to get rights in BCHL issue .
If so, holders who believe need to raid the piggy bank twice in quick succession.

Do you think it makes much difference to success of IPO if HGD holders come up short (through lack of cash) or is this insignificant?

Jess9

11-11-2007, 09:22 AM

I think that success will be assured if HGD have secured a cornerstone investor or two. Board members have these type of skills - the best outcome (IMO) would be some fit with an investor/s with longer term/strategic resource interest i.e. a cobolt using entity which wants some level of relationship with the entity providing supply (BHCL). Announcements have hinted of this, but nothing firm yet.

whatsup

11-11-2007, 08:34 PM

For my money the current share holders will have a preferencial right into BCHL if they subscribe to the current upcoming placement .

ScrappyO

14-11-2007, 09:48 AM

Company Announcements

Heritage Gold NZ Limited - Announcements

HGD
14/11/2007
RIGHT

REL: 0846 HRS Heritage Gold NZ Limited

RIGHT: HGD: HERITAGE GOLD REGISTERS PROSPECTUS AND INVESTMENT STATEMENT

FOR PUBLIC RELEASE

HERITAGE GOLD REGISTERS PROSPECTUS AND INVESTMENT STATEMENT

Heritage Gold NZ Limited is pleased to announce its combined New Zealand
Investment Statement and Short Form Prospectus, and Australian Transaction
Specific Prospectus for its pro rata renounceable rights issue have been
delivered to the New Zealand Companies Office for registration.

Heritage has also lodged the documents with the Australian Securities and
Investment Commission (ASIC). The documents relate to the pro rata
renounceable rights issue of up to 35,650,415 New Shares and 17,825,207 free
HGD
14/11/2007
RIGHT

REL: 0846 HRS Heritage Gold NZ Limited

RIGHT: HGD: HERITAGE GOLD REGISTERS PROSPECTUS AND INVESTMENT STATEMENT

FOR PUBLIC RELEASE

HERITAGE GOLD REGISTERS PROSPECTUS AND INVESTMENT STATEMENT

Heritage Gold NZ Limited is pleased to announce its combined New Zealand
Investment Statement and Short Form Prospectus, and Australian Transaction
Specific Prospectus for its pro rata renounceable rights issue have been
delivered to the New Zealand Companies Office for registration.

Heritage has also lodged the documents with the Australian Securities and
Investment Commission (ASIC). The documents relate to the pro rata
renounceable rights issue of up to 35,650,415 New Shares and 17,825,207 free
attaching options to be made to all shareholders with a registered address in
New Zealand or Australia on the register at 5.00pm New Zealand time on 22
November 2007. The shares will be allocated in the ratio of one new share for
every seven existing shares held. For every two shares issued to an
applicant, one new option will be granted.

NZ$0.054 or AU$0.045 will be payable for subscription for each new share.
A$0.08 will be payable to convert each new option to one fully paid ordinary
share in the Company at any time after the issue date and on or before 5pm
New Zealand Time on 20 November 2009, or the new options will lapse.

Subject to the ASX granting official quotation, Heritage Gold may allot and
issue new shares and options progressively under the offer.

Applications for New Shares will close at 5.00pm NZT on 20 December 2007.

The funds raised will be used for advancing exploration of the Company's key
gold tenements held at Waihi and Karangahake, preliminary exploration of the
base metal permits in Northland, New Zealand, preliminary exploration of the
exploration licences in the Dunmarra Basin of the Northern Territory,
attaching options to be made to all shareholders with a registered address in
New Zealand or Australia on the register at 5.00pm New Zealand time on 22
November 2007. The shares will be allocated in the ratio of one new share for
every seven existing shares held. For every two shares issued to an
applicant, one new option will be granted.

NZ$0.054 or AU$0.045 will be payable for subscription for each new share.
A$0.08 will be payable to convert each new option to one fully paid ordinary
share in the Company at any time after the issue date and on or before 5pm
New Zealand Time on 20 November 2009, or the new options will lapse.

Subject to the ASX granting official quotation, Heritage Gold may allot and
issue new shares and options progressively under the offer.

Applications for New Shares will close at 5.00pm NZT on 20 December 2007.

The funds raised will be used for advancing exploration of the Company's key
gold tenements held at Waihi and Karangahake, preliminary exploration of the
base metal permits in Northland, New Zealand, preliminary exploration of the
exploration licences in the Dunmarra Basin of the Northern Territory,
Australia, and for working capital

The disclosure document lodged with ASIC in Australia on 13 November 2007 and
the Short Form Prospectus delivered to the New Zealand Companies Office for
registration on the same date can be accessed from 26 November 2007 through
the Company's website at: www.heritagegold.co.nz

The full terms of the rights issue are set out in the combined New Zealand
Investment Statement and Short Form Prospectus, and Australian Transaction
Specific Prospectus, which will be mailed out to shareholders by no later
than Monday 26 November 2007.

Sue Sangster
Company Secretary
Australia, and for working capital

The disclosure document lodged with ASIC in Australia on 13 November 2007 and
the Short Form Prospectus delivered to the New Zealand Companies Office for
registration on the same date can be accessed from 26 November 2007 through
the Company's website at: www.heritagegold.co.nz

The full terms of the rights issue are set out in the combined New Zealand
Investment Statement and Short Form Prospectus, and Australian Transaction
Specific Prospectus, which will be mailed out to shareholders by no later
than Monday 26 November 2007.

Sue Sangster
Company Secretary

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