Heritage Gold...HGD

[Jess9]

Hi JMKC, you could well be right, however, I think 2008 is a tipping point for HGD and the payoff year - for patient s/holders. I think HGD could hit 30c on exploratory success at Waihi/Talisman mine.

I'll re-assess holding HGD at year-end, if we're still at the same point (sub 5c) and still raking over "the potential" : ) ... then I'll cut losses and move on. However, I plan "to bank" 30c per share on this one in 2008 ; )

Read over the company's website, then call the MD to clarify what you need to know. Its your money so u need to be happy that after 2007 structural change HGD is really moving now.

Compare all this information to similiar risk/reward opportunities; then make YOUR decision and stick to it. Whatever this may be, let it be highly profitable for you in 2008!

J9

[Jess9]

Newmont (our permit neighbour - North wall?) is now after resource consent to expand Martha pit east and west and carry on digging for years...

Mining compo for Waihi group
5:00AM Tuesday March 04, 2008
By James Ihaka


Linda Millen blames the mine for difficulty in selling her house. Photo / Alan Gibson
A group of Waihi residents affected by mining operations in the small Coromandel township are to receive compensation for years of dust, noise and blast vibrations.

But while the package has been welcomed by the Green Party and a local residents' group, some say the offer is too little, too late from the world's second-largest gold miner.

Newmont Mining Corporation owns the Martha pit in Waihi and has mining operations on five continents.

The company, which reported fourth-quarter revenue last year of $1.77 billion, has agreed to an "amenity effects" programme where it will pay about 130 Waihi households it considers to be the worst affected by its operations on an ongoing basis.

Residents who accept the offer will receive an initial sum of $500 which will be followed by half-yearly payments ranging from $100 to $4500 depending on the level of intrusion, backdated to the beginning of last year.

The announcement was welcomed by Green Party co-leader Jeanette Fitzsimons, who worked in conjunction with the Distressed Residents Action Team (Drat) over the past two years to broker the deal.


She said the offer "may well be the first of its kind" and should be recognised, as Newmont's consents meant it was not legally bound to do anything.

"But they have negotiated this offer in recognition that their activities do cause considerable distress to their neighbours," said Ms Fitzsimons.

Drat secretary Collette Spalding said the multi-national's willingness to listen and compensate locals was to be applauded.

"There's still some way to go, but this is a step in the right direction," Ms Spalding said.

But Linda Millen, whose vast central Waihi home stretches to within 100m from the edge of the pit, doubted the sincerity of Newmont's intentions.

"They're a large multinational company and this payout is nothing to them. Look at the gold they've taken out of this place and what they've put back into it - it's absolutely nothing."

In its fourth-quarter results the company said it produced and sold 31,000 ounces of gold from the Waihi mine. The price of gold yesterday was $1231 an ounce.

Mrs Millen has had the 71-year-old house with immense gardens and trees on the market since November.

"But because of the uncertainty with what's happening with the mine we haven't had a single offer."

Newmont external affairs manager Malcolm Lane said the company's offer was a "goodwill gesture".


"It's been a part of what we've been trying to do over the last few years to make sure we operate as a good corporate citizen," he said.

Mr Lane said the Martha pit was due to close mid-2010 and the nearby underground Favona Mine in 2011.

But he said Newmont was looking at extending the laybanks to the east and west of Martha pit.

"Decisions on whether these are economic are expected to be made within the next two months."

[Jess9]

Heritage got a quick mention also on National Radio this morning in discussion of Newmont and the above - a helicopter doing aerial surveys was heard/noted flying over adjoining permit lands, evidence of action!

[JMKC]

Evidence of action? Flying a copter round at $600/hr? Good to see the money raised from all these capital raisings is going to a good home/execs pockets. What happens if Heritage start having to pay compo when (I should say if) they actually start mining properly?

[etrader]

JMKC: Remembering that all the hgd permits for Waihi North and Talisman are underground which will prevent the sort of dust and noice in Waihi town that they are having, none of their permits from my understanding are for open pit

[JMKC]

etrader: fair call. I hope for s'holders sake the chopper wasn't anything to do with HGD then...hard to see underground veins from a helicopter :)

[BAPP]

etrader: fair call. I hope for s'holders sake the chopper wasn't anything to do with HGD then...hard to see underground veins from a helicopter :)

Hi JMKC,

For most 'explorers' one of the early stages of locating underground(gold/silver) veins is through high-resolution airborne magnetic survey's carried out by helicpoter flyovers.

This technology along with ground based survey's help predetermine the best areas to commence drilling programmes.

Drilling can cost in excess of $300 per metre, so you don't want to be drilling randomly and 'wasting' funds.

Once the 'flyovers' have been completed and the 'hot spots' indentified, further ground survey's and sampling will be undertaken so that once drilling commences there is a better chance of 'hitting' the target at minimised cost...so to speak. :)

HGD along with many explorers have provided 'mapping' which originates from airbrne magnetic survey's to identify 'zones' of potential mineral base to the markets and shareholders.

While there is a lot more to it than this, I hope this helps explain the reason for helicopters being used.

Cheers
BP:)

[mistymountain]

Anyone who wonders what BAP is talking about should definitely checkout the video section on the HGD website. There is some great footage of the company's exploration areas from the air and discussion too about how the latest technology is used. FYI this same aerial tech is used for uranium exploration too.

[Jess9]

Gold Nears $1,000 on Weak Dollar
By STEVENSON JACOBS – 14 hours ago

NEW YORK (AP) — Gold prices moved within striking distance of $1,000 an ounce Monday, surging to another record after the dollar tumbled to an all-time low and crude oil surpassed its inflation-adjusted high.

Silver extended recent gains to reach another 27-year high, while platinum also rose to a record. Other commodities advanced broadly, with soybean and corn futures both rising to new highs.

The dollar briefly fell to a historic low Monday on news that construction spending plummeted. The euro bought as much as $1.5266 earlier Monday but later gave up some gains and was trading at $1.5180 Monday afternoon.

A series of Federal Reserve interest rate cuts has battered the dollar, which lost nearly 10 percent against the euro in 2007. Lower interest rates tend to weaken the dollar and prompt investors to shift resources into hard assets like gold, which is known for holding its value in times of rising inflation and economic uncertainty.

"Inflationary expectations are up around the world and that affects gold because precious metals are being bought to maintain purchasing power," said George Gero, vice president at RBC Capital Markets Global Futures in New York.

Gold for April delivery jumped $12 to fetch $987 an ounce Monday on the New York Mercantile Exchange, after earlier rising as high as $992 an ounce — feeding expectations that the metal will soon surpass the psychologically important $1,000 mark. Gold prices shot up nearly 32 percent in 2007 and are up more than 15 percent this year.

"The speculative crowd remains firmly fixated on the fulfillment of the four-digit price tag being affixed to a one-ounce chunk of gold," Jon Nadler, analyst with Kitco Bullion Dealers Montreal, said in a note.

Other precious metals also rose Monday. Silver jumped to its highest level since 1980, with the March contract adding 39.2 cents to reach $20.20 an ounce on the Nymex. Earlier, silver rose to a record $20.610 an ounce.

Platinum for April delivery added $56.30 to $2,237 an ounce on the Nymex, after earlier rising to an all-time high of $2,240 an ounce. Nymex copper, meanwhile, gained 6.05 cents to fetch $3.9125 a pound and earlier rose to a record $3.97.

The advance of precious metals has corresponded closely with rising crude oil prices, which jumped to an inflation adjusted record high Monday of $103.95 before easing back slightly. That's above the $103.76 a barrel that many analysts consider to be the true record high for oil, after its $38 barrel price from 1980 is translated into 2008 dollars.

Light, sweet crude for April delivery pulled back slightly in afternoon trading, adding $1.64 to fetch $103.48 a barrel on the Nymex.

Other energy futures also rose. April gasoline futures gained 4.39 cents to $2.7138 a gallon on the Nymex, while April heating oil futures rose 5.35 cents to $2.8604 a gallon.

Meanwhile, agriculture futures rose broadly with soybeans hitting to a record amid expectations of growing demand in China.

Soybeans for May delivery jumped 27.5 cents to $15.64 a bushel on the Chicago Board of Trade, after earlier rising to an all-time high of $15.865 a bushel.

Wheat for May delivery surged 46 cents to $11.32 a bushel, while March corn added 10.25 cents to $5.5625, after earlier rising to a record $5.61 a bushel.

[Jess9]

Agree with your concerns JMKC - HGD must hit or exceed 500K gold resource this year; but nice to see the spot sale price heading North.

[mistymountain]

Looks like the US$1000 will be broken soon with potential for a big breakout past this point.

We live in interesting times...

Must have an impact on good producers eg OGC but thats another company... Strange that their share price has stagnated over recent months despite gold production.

Anyway back to HGD and lets just hope they can produce something before the markets return to their historic price levels...

[Jess9]

aye MM, < next 20 years then ; )

G'night all.

[etrader]

hedging. I know producers have let their hedging roll off to benefit from the increase. If I was hgd I would try to hook a deal in to hedge at some stage soon based on proving up resources to 500k, that way they could go to the bank or receive 3rd party funding in exchange for projected revenue at a set rate. That way we reduce any upside but protect the downside.

[Jess9]

Thats a tough one etrader, NZO did something similiar (i think) locking in what was later "low" prices. However I get your point - it would provide something to borrow against, rather than equity funded.

Wonder if HGD can borrow against a positive BFS. The Board must have contacts to obtain (debt) funding - where supported by this etc.

Anyway 1st things 1st, lets prove up the 500K ASAP (and before my oppies expire ; )

[Jess9]

Funds from a successful oppie conversion should be on HGD's radar now. This would be well timed for use to advance Talisman with a BFS/outright start mine construction. Lets see if HGD can make it all line up this time (grrrr warrants) etc.

With Newmont seeking resource consent to carry on with Martha - our Waihi North permit must be a point of discussion at present. Some interesting deal making could be in the wind, guess we wait and see...

[BAPP]

From the HGD website: http://www.heritagegold.co.nz/irLetter.html

Dear Shareholders,
Putting Our Investors Money to Work at Waihi

We are now well into the New Year and beginning to put some of the NZ$3.6 million that we raised from our recent capital raising to good work for our shareholders.

Since January we have had a geophysical survey team on the ground at Waihi North in the area adjacent to Newmont’s Martha open pit. Using advanced technology, this group is measuring the electrical resistivity of the ground to detect any extension of the quartz veins of the Martha open pit into our Waihi North landholding.

Overlaying this, and using the same closely-spaced grid, Heritage is carrying out geochemical sampling of the soils to detect anomalous occurrences of gold and key trace elements associated with gold.

In February, Heritage undertook a high-resolution airborne magnetic survey of the Waitete, Waihi North and Golden Valley tenements and covered over 1,500 line kms of flying. The survey was carried out at an average flying height of only 35m above the ground. This provides greater resolution of the data that is collected and was made possible by mounting the magnetometer in a probe attached to the front of the helicopter: only the second such use of this configuration in New Zealand.

The combination of air and ground magnetic surveys will enable us to identify areas of hydrothermal alteration where potential gold-bearing solutions have risen toward the surface from their deep volcanic source. The resistivity survey will help us delineate quartz veins and the geochemical survey will enable our geologists to determine if there is potential for gold in any such structures.

This month we plan to commence 2,000 metres of deep drilling of our Rahu permit, to the north of Talisman. Within 2-3 months we plan to be drilling targets at Waihi North.

What does all this mean for our shareholders? Well, firstly we are seeking to find a resource at Rahu that can be combined with that at Talisman. Secondly, we are looking to significantly increase the value of our Waihi North tenement by delineating quartz vein structures and drill-testing key targets.

Heritage is also building strength in its exploration team. At the beginning of March our field team welcomed Callum Browne a recent Masters graduate from Auckland University who is very experienced in geochemical surveys of the Waihi District.

Anton Barber, an expatriate New Zealander with Masters qualifications from Otago Univesity, and gold exploration experience in Australia, joins us in mid March and will head up our Waihi base of operations.

From now until September, the pace of our exploration activity will quicken as we transition into drilling and focus our efforts to finding additional gold resources on our Waihi tenements.

Sincerely,
Trent Lash
Managing Director
Heritage Gold NZ Limited

[Jess9]

"From now until September, the pace of our exploration activity will quicken as we transition into drilling and focus our efforts to finding additional gold resources on our Waihi tenements."

Ahhhg..just in time to cash in on 2008 options - assuming heads get and stay nicely over 10c by that date. Good to see the MD not asleep on the wheel on this point. Let the drilling commence!

BAP, our 2008 oppies may yet be a golden ticket ; )

[Jess9]

The Helicopter almost looks phalic - but if it finds the shiny : )

[BAPP]

"From now until September, the pace of our exploration activity will quicken as we transition into drilling and focus our efforts to finding additional gold resources on our Waihi tenements."

Ahhhg..just in time to cash in on 2008 options - assuming heads get and stay nicely over 10c by that date. Good to see the MD not asleep on the wheel on this point. Let the drilling commence!

BAP, our 2008 oppies may yet be a golden ticket ; )

Hi Jess9,

Yes, looking forward to the next 6 months of reporting. Along with the shareholder letter, 'rumors' also suggest that HGD is a lot more 'active' with their exploration in the region. So the long awaited 'action' is underway.:)

Good to see 'dedicated' staff assigned to drive the exploration process in the area also.

Those 'options' could look pretty good with a few favorable drilling results over the next quarter.:)

Cheers
BP:)

[Jess9]

Yes I'll hang on to mine, hopefully these oppies will fair better than the truck load of HGDCA's : (

From a read through, my gut feel is that Trent is getting the business done and that entails lots of pre-drill work then hole after hole completion etc... which will take several months before meaningful (and timed in or before Sept ; ) results can be announced, with lots of good pre-drill work (and some luck) these will show wildly positive g/t intersections (10+ would be nice).

Trent has an attractive financial incentive (his 8c 2009 oppies) and I think he means to collect! As this aligns with shareholder wealth creation - go for gold!!

Great to also see the MD letter cover detail and provide a sense of organised, co-ordinated action - good effort Trent.

[brettdale]

This stock is one of my hopeful ones, surly any find will see the price go upwards in a hurry.

[Jess9]

I've been hopeful for awhile too, and still firmly agree with you. Finally, gold touches USD 1000/oz! Next will be the push through. With drilling about to/already commencing, 2008 will be a great year for successful explorers.

[Jess9]

: ) over 1K now. Very good for the sector.

Shame about Bear Stearns - likely see market wide flux next week, depending how the Dow fairs.

[BAPP]

Hi Jess9,

Good to see gold price increasing especially with the increased emphasis on gold and silver exploration at Waihi. (Watch for a resource upgrade!)
http://www.kitco.com/charts/livegold.html

I was also interested to read the following about cobalt.

Of specific note was the expectation that cobalt 'consumption' would outstrip supply through 2012. (see article below)http://metalsplace.com/news/?a=18166

Good signs for BHCL, especially as the the price has just exceeded $52/ pound. http://cobalt.bhpbilliton.com/

Cheers
BP:)
--------------------------------------------------------------------------------
PDAC: Special attention for moly, tungsten and cobalt

Specialty metals like molybdenum, tungsten and cobalt are definitely getting their share of attention these days -- and rising prices reflect this interest. In fact, at PDAC many of these metals are all some attendees talk about.

Molybdenum, which is often referred to as "moly," is used to strengthen steel and is a catalyst in petroleum refining. In the days of US$100 a barrel oil, you can see where the high level of interest comes from.

Thompson Creek Metals Co. is one of the largest publicly-traded pure moly companies. It has four properties -- two in British Columbia, one in Idaho and another in Pennsylvania -- and reports a measured and indicated resource of 1 billion pounds of moly.

In a presentation to PDAC on Tuesday, COO Ken Collison said one of the benefits of being a primary producer (most moly is produced as a by-product of copper mining) is that primary producers tend to produce a cleaner end-product.

Responding to a question about the potential for additional reserves at its 75%-owned Endako project in B.C, Mr. Collison said the company is beginning to look beyond the existing property.

Another moly company is Adanac Molybdenum Corp., which is developing the Ruby Creek project. It expects to be in production by late 2009 or early 2010.

Larry W. Reaugh, the company's executive chair told PDAC that industry-wide capacity issues will impact medium-term supply. He also pointed to a similarity in price movements for oil and moly, attributing this to the "intense" use of moly by the oil industry. So if the demand for oil rises, the demand for moly will too, he added.

Next up is cobalt with Formation Capital Corp., which has two cobalt properties in Idaho. Company spokesperson Rick Honsinger said it is trying to become the sole primary cobalt producer in the Western Hemisphere.

Like other specialty metals, the price of cobalt has soared in recent months -- rising roughly 100% since August 2007 and is now above US$50 per pound.

Adding a dose of humour to his presentation, Mr. Honsinger said there are two options when seeking permitting in the world -- "difficult and impossible." The U.S. has chosen to be difficult.

Cobalt's primary uses include jet engines, turbine blades, rechargeable batteries and solar panels. And it is also stockpiled by the U.S., Mr. Honsinger said. The company expects cobalt consumption to outstrip supply through 2012, which should support prices. Another key point he noted was that the U.S. is a primary producer, but has no domestic supply.

The company also has stakes in two joint venture uranium projects in the Athabasca Basin with Cameco and Areva.

Another specialty metal that may get less attention is tungsten. North American Tungsten Corp.'s chairman and CEO, Stephen Leahy, highlighted the fact that China currently produces 85% of global supply. North American Tungsten produces 4% and there has been no exploration in the western world for several decades, he added.

Why is it attractive? It is the hardest material on earth next to diamonds, and the highest melting point. Tungsten typically has been used as an additive for steel, but its uses have been expanding recently. It has also become a key compound in high-end industrial cutting tools and mining equipment, which demonstrates its importance in terms of global industrial economic activity.

And with China's consumption doubling over the past decade and their 62% control of the global resource base, the tungsten market is part of an intriguing political dynamic.

But North American Tungsten boasts that its 100%-owned Mactung development near the Yukon-NWT border is the biggest high-grade deposit in the world. It also has the producing Cantung project nearby, which was restarted in 2005. – Financial Post

[Jess9]

BHCL could change from being a nice extra (to HGD's gold permits) into a star in its own right if the cobolt price sits around 50 or better, carries on with its current up trend.

When released later in the year, the IPO info may indicate it well worth oversubscribing to the issue, or depending on the market at the time picking up newly issued shares on short term dips.

Were demand to exceed supply for cobolt so long (out to 2012) we may even see a "uranium" type spike during the period (now to then).

I'm OK with the delay from 1st quarter listing as long as the work on site is progressing as would have occured etc. HGD will benefit from the cobolt price rise during this delay, and achieve a better list price when the market is less jittery.

Wonder what window they are looking at now, must be before year-end at any rate.

[Jess9]

Thanks for those links also BAP.

[doon]

Got a mention in the Australian Investment Review today! Things are looking up.
"......managing director Trent Lush" !!

http://www.aireview.com.au/index.php?act=view&catid=8&id=8245&setSub=1

and The Independent Financial Review Daily Business Brief by email.
The PR machine must be up & running now.

[BAPP]

Got a mention in the Australian Investment Review today! Things are looking up.
"......managing director Trent Lush" !!

http://www.aireview.com.au/index.php?act=view&catid=8&id=8245&setSub=1

and The Independent Financial Review Daily Business Brief by email.
The PR machine must be up & running now.

Thanks doon,

I notice that HGD also made the following (same) market announcement today regarding the Talisman mine and the Mystery vein!.:)

Cheers
BP:)
---------------------------------------------------------------------------
HGD
18/03/2008
GENERAL

REL: 1030 HRS Heritage Gold NZ Limited

GENERAL: HGD: HERITAGE GOLD ANNOUNCES SCOPING STUDY FOR TALISMAN MINE

Heritage Gold, New Zealand's leading listed mining exploration company today
announced that it is looking at the further development of its Talisman mine.

The Talisman mine comprises the Maria, Crown/Welcome and Mystery veins.
Mystery Vein, unheard of before the 1980's, has shown significant gold
intersections in systematic channel sampling undertaken by Heritage Gold
previously.

Trent Lash, Managing Director for Heritage Gold says the scoping study has
been initiated as part of the process of evaluating the future viability of
the Talisman asset.

"Heritage Gold believes that the Talisman mine has significant value and
offers real potential as historically it has delivered a result of 1.125
million tonnes of ore averaging 23.1 grams per tonne gold and 86 grams per
tonne silver. Our view is that it will become a significant gold producer,"
says Lash.

Lash says that Heritage Gold undertaking the scoping study is one of the
first steps required to fully evaluate the potential of the Talisman Mine.

"We are engaging an external specialist to assist us with the scoping study
process, to better understand Talisman's gold bearing potential and how it
might be developed."

Listed on both the Australian and New Zealand stock exchanges, Heritage Gold
holds quality gold properties and base metal assets in New Zealand as well as
cobalt and uranium properties in Australia.

DISCLOSURE:
The information in this report that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Murray Ronald
Stevens, who is a member of the Australian Institute of Mining and
Metallurgy.

Murray Ronald Stevens has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as defined
in the 2004 Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Murray Ronald Stevens consents
to the inclusion in the report of the matters based on his information in the
form and context in which is appears.

ENDS

[doon]

Hi BAP
Both the mentions I pointed out were in response to the market announcement. However, not everyone sees the market ann. unless you're watching a company, or all announcements! Don't think many follow them all. A bit of press is great as may bring HGD/HTM activities to the notice of a few more potential investors. Wonder if it will make it to mainstream news, might be a mention in NZH, Dom, Press or even the ODT! Not sure about the Australian newspapers, maybe not that lucky.
Do you know what the time frame for the scoping study is likely to be?
Rgds.

[Year of the Tiger]

At a time when I am cashed up (well, almost), I've only held on to my freebie TPW and my HGD.

Nice to see some news today and the HGD sp up a tad. I'm here for the long haul..... :)

YOTT

[doon]

HGD have a mention in ODT today, & notice also on www.stuff.co.nz
Impeccable timing with the announcement/press release, with DOW posting it's biggest one day gain for 5 years! Well done Trent.
Gold back a bit but to be expected, still at levels to make gold explorers & producers stocks in favour.
Maybe the worst is over for HGD/HTM?

[etrader]

http://www.nbr.co.nz/home/column_article.asp?id=20856&cid=4&cname=Business+Today

[Jess9]

Nice to see the drilling has kicked off.

Shame about the price drop on gold today, fingers x'd just a s/term adjustment.

[BAPP]

Hi BAP
Both the mentions I pointed out were in response to the market announcement. However, not everyone sees the market ann. unless you're watching a company, or all announcements! Don't think many follow them all. A bit of press is great as may bring HGD/HTM activities to the notice of a few more potential investors. Wonder if it will make it to mainstream news, might be a mention in NZH, Dom, Press or even the ODT! Not sure about the Australian newspapers, maybe not that lucky.
Do you know what the time frame for the scoping study is likely to be?
Rgds.

Hi Doon,

My understanding is that a 'fair chunk' of the work is already well progressed and the study should take no more than 2-3 months to complete fully.

As I have posted previously I am very excited about the Talisman mine with the Mystery vein looking very promising.(I’m ‘betting’ it will make up a good portion of my retirement fund):) http://www.heritagegold.co.nz/projTalisman.html

With the recent announcements it seems Trent is pushing ahead in both the Talisman and Rahu areas as he indicated when he raised extra capital last year. It also seems he is keeping to the time frames he reported, which gives me confidence in his ability to get the job done for shareholders.:)

IMO the June and September quarterly reporting could prove very exciting reading!:)

Cheers
BP:)

[etrader]

All I can say is well done hgd for raising the $ before the market turned to custard, they would not have had a chance getting to the level they did, perfect timing by nov close to get the $. This will set them up well going forward. Trent is very driven and has vast connections, myself and BAP had the pleasure of going underground last year, and to say I am quietly confident would probably be a little on the light side.

Good luck those who can sit tight for 18 months, I know BAP and I Jess9 and a few others will one day be sipping flash drinks in island far from here.

IMO

[Jess9]

18-24 months would also likely be a good time to put some of "that cash" into r/property again. The drinks sound nice through; BAP of course at this stage would be buying at least 6 to each one of mine, maybe he will share a few with us - assuming all our (HGD) ducks line up ; )

[BAPP]

18-24 months would also likely be a good time to put some of "that cash" into r/property again. The drinks sound nice through; BAP of course at this stage would be buying at least 6 to each one of mine, maybe he will share a few with us - assuming all our (HGD) ducks line up ; )

Hi Jess9,

I won't mind 'buying' a few drinks if HGD's share price hits my target of 50c.:)

I might even buy a 'pub' at Waihi to celebrate so I'll look forward to you, etrader, woody51, oiler2 and few other HGD 'die hards' joining me!

Here's to good times ahead!:)

Cheers
BP:)

[doon]

Hi Jess9,

I might even buy a 'pub' at Waihi to celebrate so I'll look forward to you, etrader, woody51, oiler2 and few other HGD 'die hards' joining me!
BP:)

You don't have to buy a pub to celebrate with your mates. Been there done that with small town pubs, and believe me, an investment in even a very speccy stock will likely pay a better return for a lot less work! There is only one side of the bar I ever want to be on nowadays, & it's certainly not the working side. However will be very happy to take part in a 'shout' & if HTM hits A$0.50 I'll stick some money on the bar too. Might be wishful thinking, but have to have some dreams while all this turmoil is going on. Fingers crossed things will soon head upwards before all my stocks hit zero.

[BAPP]

You don't have to buy a pub to celebrate with your mates. Been there done that with small town pubs, and believe me, an investment in even a very speccy stock will likely pay a better return for a lot less work! There is only one side of the bar I ever want to be on nowadays, & it's certainly not the working side. However will be very happy to take part in a 'shout' & if HTM hits A$0.50 I'll stick some money on the bar too. Might be wishful thinking, but have to have some dreams while all this turmoil is going on. Fingers crossed things will soon head upwards before all my stocks hit zero.

Hi Doon,

I made that comment with tongue in cheek!;) I have enough other business interests to keep me busy, so 'buying a pub' would be just for the weekend while we celebrated!

There is no doubt in my mind that HGD's share price could exceed 50c if the estimated resource levels at Talisman, Waihi and Broken Hill are confirmed and progressed towards production in the next 12-18 months.

As etrader highlighted the 'underground experience' at Talisman is a real 'eye opener' and provides confidence in the future of the project.

Apparently Talisman was one of the factors the persuaded Warwick Grigor to accept a directorship and for Trent to take up the Managing Directors role with HGD.

Cheers
BP:)

[Jess9]

Hi BAP - any idea if HGD/HTM stock holdings was/is tied to any of this Opes Prime debacle? I assume probably not, due to its small cap size right now, but there was the December/Jan equity raising. Wonder if there was any chance of at least some of that shorted or sold out?

[Jess9]

I see Ratkin posted the following on the ASX board - showing no HTM:

"Here is the list of all those companies with significant shares that anz wants to sell


ACRUX LIMITED-ORDINARY ACR
14,549,015
159,299,216 9.133%
ADELAIDE RESOUR-ORD SHS ADN
4,320,259
83,156,035 5.195%
ADMIRALTY RESOUORDINARY
ADY
222,220,756
984,299,202 22.577%
AINSWORTH GAMEORDINARY
AGI
20,214,436
278,942,304 7.247%
ALCHEMY RES LTD-ORD SHS ALY
1,239,757
21,680,000 5.718%
ANSEARCH LTD - ORDINARY ANH
60,190,000
557,604,295 10.794%
AUSTEX OIL LTD - ORD SHS AOK
6,161,500
68,650,000 8.975%
AEQUS CAPITAL-ORD SHS AQE
4,021,272
36,115,976 11.134%
ASTRO DIAMOND NL-ORD ARO
40,531,049
297,230,538 13.636%
AUSTIN GROUP -ORD SHS ATG
28,145,653
62,182,019 45.263%
AXG MINING LIMTORDINARY
AXC
6,528,000
99,750,000 6.544%
AZUMAH RESOURCES LTD AZM
5,700,000
81,000,000 7.037%
BLUE CHIP FINANCIAL-ORD BCF
18,569,853
116,074,781 15.998%
BANNERMAN RESOUORDINARY
BMN
13,960,591
144,925,036 9.633%
BOSS ENERGY LTD-ORD SHS BOE 25.973%
10,411,743 40,086,853
BYTE POWER GRP LTD-ORD BPG
38,659,231
384,126,442 10.064%
BIOPROSPECT LTDORDINARY
BPO
124,484,003
487,040,944 25.559%
BISAN LIMITED-ORD SHS BSN
6,878,309
38,400,000 17.912%
BATAVIA MINING-ORDINARY BTV
7,678,676
121,284,574 6.331%
BEYOND INTERNAT-ORD SHS BYI
5,988,653
59,711,968 10.029%
CITADEL RES GRP-ORD SHS CGG
63,317,988
378,552,085 16.726%
CITADEL RES-PT PAID SHS CGGCA
12,230,552
57,084,957 21.425%
COMTEL CORP LTD-ORD SHS CMO
10,725,876
132,587,276 8.090%
CARDIA TECHNOLO-ORD SHS CNN
20,660,375
276,172,149 7.481%
CONQUEST MINING-ORD
SHS CQT
27,717,044
271,749,181 10.199%
CONTACT RESOURCE -ORD CTS
5,242,593
95,749,856 5.475%
CATALYST METALS-ORD SHS CYL
1,570,000
18,558,137 8.460%
DESTRA CORPORATORDINARY
DES
23,435,169
331,094,652 7.078%
DVM INTERNATIONAL-ORDS DVM
19,270,977
191,361,058 10.070%
EBET LIMITED-ORD SHS EBT
56,122,852
217,806,111 25.767%
EARLY LEARNING-ORD SHS ELY
2,685,800
34,000,000 7.899%
FAIRSTAR RESOURCES -ORD FAS
38,130,515
306,513,914 12.440%
FSA GROUP LTD-ORDINARY FSA
13,591,051
115,437,513 11.774%
FUTURE CORPORATORDINARY
FUT
162,000,000
1,168,944,186 13.859%
GOLDMINEX RES GMX 11.156%
4,361,265 39,094,223
GLOBAL NICKEL IN-ORD SHS GNI
2,050,000
18,735,001 10.942%
GOLDEN WEST-ORD FULLY GWR
16,484,931
110,165,763 14.964%
HODGES RESOURCES-ORDS HDG
2,892,903
46,440,002 6.229%
HAWK RESOURCES - ORD
SHS HFC
3,128,253
25,731,251 12.157%
HYRO LIMITED-ORDINARY HYO
49,472,965
531,078,797 9.316%
INCITIVE LIMITED-ORD SHS ICV
4,250,400
29,000,000 14.657%
IMAGE RESOURCESORDINARY
IMA
5,984,832
79,599,241 7.519%
INTERMOCO LTD-ORDINARY INT
77,760,157
1,233,941,493 6.302%
INTRAPOWER LTD-ORD SH IPX
1,809,809
31,057,400 5.827%
JAMESON RES LTD-ORD SHS JAL
2,665,000
15,284,001 17.437%
JUMBUCK -ORD FULLY PAID JMB
3,559,447
48,484,670 7.341%
KAIRIKI ENERGY ORD SHS KIK
41,300,000
328,107,538 12.587%
KINGS MINERALS-ORD SHS KMN
20,742,418
394,286,498 5.261%
LATIN GOLD-ORD LAT
19,830,000
161,576,434 12.273%
LIVING AND LEISURE-ORD LLA
12,868,462
181,011,251 7.109%
MAMBA MINERALS - ORD
SHS MAB
1,000,000
14,050,000 7.117%
MOBI LIMITED MBI
13,446,009
207,837,235 6.469%
METEX RESOURCES-ORD
SHS MEE
36,500,000
276,785,383 13.187%
MAGMA METALS-ORD SHS MMB
3,323,381
56,313,752 5.902%
MOOTER MEDIA-ORDINARY MMZ 5.689%
3,165,000 55,633,031
MANTLE MINING CORPORORD
MNM
2,830,714
45,498,214 6.222%
MILLEPEDE INTL LTD-ORD MPD
27,459,167
170,183,965 16.135%
MOUNT BURGESS- ORD SHS MTB
14,092,604
280,257,000 5.028%
MATRIXVIEW LIMIORDINARY
MVU
9,444,305
122,125,372 7.733%
MXL LIMITED-ORDINARY MXL
62,829,358
780,903,649 8.046%
NORWOOD ABBEY -ORD SHS NAL
17,603,704
329,305,957 5.346%
NORTHERN -ORD FULLY PAID NEC
6,945,292
71,312,324 9.739%
NKWE PLATINUM L-10C US C NKP
11,555,808
121,760,981 9.491%
NEWERA URANIUM-ORD SHS NRU
9,350,183
42,155,674 22.180%
NSX LIMITED-ORDINARY NSX
4,982,174
74,460,003 6.691%
ODIN ENERGY LTD-ORD SHS ODN
4,720,300
61,390,005 7.689%
ORD RIVER RES.-ORDINARY ORD
12,500,000
168,045,411 7.438%
PRAEMIUM-ORDINARY PPS
5,216,835
98,186,996 5.313%
PROPHECY INTERN-ORD SHS PRO
4,000,000
45,116,955 8.866%
PRIMA BIOMED LTD-ORD PRR
15,600,000
299,079,913 5.216%
PHOTO-ME AUST - ORD SHS PTO
1,635,000
31,490,252 5.192%
PO VALLEY ENERGORDINARY
PVE
8,079,961
90,415,633 8.936%
POWERLAN LIMITE-ORD SHS PWR
17,527,985
82,527,355 21.239%
Q LIMITED-ORD SHS QXQ
133,273,292
848,445,835 15.708%
ROCKEBY BIOMED- RBY 5.714%
ORDINARY 39,285,583 687,499,329
ROYALCO RESOURCES-ORD
SH RCO
7,227,899
47,172,444 15.322%
RED FORK-ORDINARY RFE
12,868,068
87,366,282 14.729%
RENISON CONSOLIDATEDORD
RSN
83,749,103
784,958,095 10.669%
RENISON CONSOLID -ORD
SH RSNCH
21,725,000
152,499,900 14.246%
SUNDANCE ENERGYORDINARY
SEA
21,974,282
172,772,259 12.719%
SUNSET ENERGY LTD-ORD SEY
1,724,397
15,500,001 11.125%
SOLAGRAN LTD-ORDINARY SLA
56,129,515
131,816,545 42.582%
SOLAGRAN-DEF DEL SLACF
10,132,865
48,174,108 21.034%
SYRAH RESOURCES - ORD
SH SYR
4,544,784
21,000,005 21.642%
TANDOU LIMITED-ORD SHS TAN
10,128,445
88,100,707 11.496%
TAWANA RESOURCES NLORD
TAW
5,306,841
98,667,935 5.378%
TERRAIN MINERALS LTDORD
TMX
12,463,888
77,319,748 16.120%
TNG LIMITED -ORDINARY TNG
16,587,937
192,683,314 8.609%
VIRAX HOLDINGS-ORD SHS VHL
6,212,785
107,352,940 5.787%
WATER WHEEL HOL -ORD
SHS WWH
7,087,000
16,366,868 43.301"

[whatsup]

BAP, Why is HTM selling at such a discount in Aussie?

[Jess9]

Nice to see gold over that 900 mark again. Be great to get a Waihi update or better yet a drill result; rig/s must have put a few down a few holes by now.

Hopefully if the Dow is settling down a little the BHCL IPO can occur shortly. As this must bring out underlying value, I wonder if it is planned to occur nearer the 08 oppie conversion date. Such timing might be a smart coincidence ; )

I see the website has been updated to give gold, cobolt and uranium (live) metal prices - well done team, a modest but worthwhile improvement.

[steve fleming]

FYI – Interview with Trent Lash on Mergermarket.com
-------------------------------------------------------------------

Heritage Gold more of a target than an acquirer; open to adviser approaches, MD says
http://by127w.bay127.mail.live.com/mail/SafeRedirect.aspx?hm__tg=http://65.55.132.121/att/GetAttachment.aspx&hm__qs=file%3d91bb8570-d41a-4856-9c4d-696c99c7676f.gif%26ct%3daW1hZ2UvZ2lm%26name%3daW1h Z2UwMDEuZ2lm%26inline%3d1%26rfc%3d0%26empty%3dFals e%26imgsrc%3dcid%253aimage001.gif%254001C89A6C.4C2 BE630&oneredir=1&ip=10.1.106.96&d=d640&mf=0Proprietary Intelligence
Heritage Gold, the listed New Zealand based exploration group, is more of a target than an acquirer due to its "microcap" status, said managing director Trent Lash. "Because we are a microcap, I assume if somebody wanted to come out and make an offer to shareholders, it could be done."
However, Lash said, "I don't see the company being a target so much as our [exploration] assets [in Australia and New Zealand]. I could see some of our assets becoming targets for joint ventures or acquisitions; I don't know about the company itself".
The company's resource tenements include Waihi and the historic Talisman Mine in New Zealand [gold]; Hikurangi, Tangihua and Waikare in New Zealand [base metals]; Pyrite Hill in Australia [cobalt] and Dunmarra Basin in Australia [uranium].
Of particular value is Heritage Gold's project in Waihi North, Lash said. The listed, Denver-based gold mining company Newmont Mining Corporation also holds areas in the Waihi gold district and Heritage Gold's holdings "encircle all of Newmont's major production mines there". Heritage Gold's landholding here is "undervalued" by the market considering its "good prospectivity", Lash said. "Newmont picked that [Martha mine] asset up from [its acquisition of] Normandy [Mining]" and is now "running out of reserves", Lash said. "At some stage, one's got to assume that [our] ground [in Waihi North] could be valuable to someone like Newmont or to another player." Once Heritage Gold's assets have been developed from an "exploration" to a "production" stage and reached a "new valuation", they could also be spun off and listed on a stock exchange or become part of joint ventures, Lash said.
Heritage Gold is "about to take a scoping study in the next few months" of the ground to the north of Karangahake's Historic Talisman goldmine in Rahu "with a view to moving that asset towards development". Results for the Rahu area are expected around August, Lash said. "Then we'll have an idea of what level of value upside we've got available." The company also plans to undertake exploration on the uranium tenement "in the next few months", which could lead to opportunities, Lash said. For example, "a number of uranium exploration groups in Australia have teamed up with major producers - Oxiana has invested in a uranium-oriented group called Toro Energy".
The company would "certainly entertain acquisitions" of land and joint venture opportunities, Lash said. "Our primary focus would be acquisitions of ground we thought had potential to move through stages of value creation." Such acquisitions "could be anywhere", but the company "has interest" in looking at gold prospects in south-east Asia, Lash said. "The main gold areas outside of Mongolia and China are Indonesia, Papua New Guinea and Vietnam." There are also potential opportunities in eastern Europe, but these are "not really on our radar", Lash said. Heritage has expanded its focus to include base metal as well as gold exploration. It plans to "crystallize the value we've got with our gold properties", while "looking at diversifying our mineral projects".
There is no specific budget for acquisitions, which would be made on an "opportunistic" basis, Lash said. Any acquisitions would "primarily be funded through equity" but Lash declined to say what form this could take. In terms of sourcing acquisitions, the company has in-house expertise and is "open to any sort of approaches" from advisers, Lash said.
Lash has been with the company for six months and was brought on as part of a "transformation" of the company, with a restructured board of directors and new management. "It's our intention to move the company forward with a stronger business focus, and continue to build on our strengths as an exploration company," he said.
Lash named Heritage Gold's competitors as dual listed, New Zealand based miner Glass Earth, and Newmont "up to a point". Heritage Gold is "the only primarily Australasian-owned company operating in New Zealand in the gold industry", Lash said.
The company is listed on the ASX and NZX. Its market cap is around NZD 10.02m [USD 7.9m] in New Zealand.
By Laura Stevens in Auckland

[Jess9]

Thanks Steve. Hmmme with gold $ where it is, and obvious synegies to existing production site and (Newmont) staff... 25c / share, minimum start offer for Waihi permits and existing gold and silver resource, or if not, better us to develope up the resource ourselves to get that or more.

[Jess9]

...however, any offer from a big cap would be interesting and speculative for the share price : )

[COLIN]

...however, any offer from a big cap would be interesting and speculative for the share price : )

Please! Anything to get this dog stirring! Wish I'd never set eyes on it.

[whatsup]

Any update????

[tobo]

BAP, Why is HTM selling at such a discount in Aussie?

BAP not answered yet...

My stab -
I seem to recall it allways has to a very small extent, but more now?

My theory is that in Aus, with so many very speculative explorers to pick from, the ausi investors have downrated HTM moreso than Kiwi investors.
This thought only holds water if you believe there are people who would only buy HTM and not HGD, and also people who would only buy HGD and not HTM

Aus specs have been hit harder than NZ, and aus investors are selling down everything, and HTM sp is just where it fits against those other equivalent explorer speccies.

You could say HGD is high compared to Aus market...but it's all relative. There are SOOOO many micro (and not so small) explorers out there that are SOOOO cheap in relation to their target resources.

I just go round in circles with this logic, as it stands on the idea that there can't be any Arbitrage between HTM and HGD, or that the market is that impure.

Dunnoh.
ToBo.

[whatsup]

Thanks Tobo, very frustrating, seems as though BAP has sold out now hense the lack of postings from ( we used to have a daily write up from him ) we will wait the drilling results with interest , last port of call now for hgd!!! im afraid.

[Jess9]

Hope not. BAP deserves to be onboard for the fun which should start (fingers xed) towards oppie conversion date - when Waihi drill results and hopefully IPO cobolt status will become clear. Maybe even an up date on the U project... I'd be happy for another party to come on board with this one, at the right price.

HTM. There has been selling from AUS since the cap raising, this impacts the NZ share price (efficient market etc). However it seems odd to buy at 4.5 then sell out below this (and down to recent lows) when it was clear that the money was to be put into activity which would not be reported until latter 2008. The return will come then, assuming that activity clearly shows the likely increase to HGD's gold resource, and a dollar value on its cobolt interest. Till then, we speculate and float on market whim.

[tobo]

Hi Doon,

I made that comment with tongue in cheek!;) I have enough other business interests to keep me busy, so 'buying a pub' would be just for the weekend while we celebrated!

There is no doubt in my mind that HGD's share price could exceed 50c if the estimated resource levels at Talisman, Waihi and Broken Hill are confirmed and progressed towards production in the next 12-18 months.

As etrader highlighted the 'underground experience' at Talisman is a real 'eye opener' and provides confidence in the future of the project.

Apparently Talisman was one of the factors the persuaded Warwick Grigor to accept a directorship and for Trent to take up the Managing Directors role with HGD.

Cheers
BP:)

I am a bit surprised by the suggestion that BAP would be out.
He had mentioned last year that he would put a time limit on his patience, and if he were to depart it would take quite an effort which he would want to carefully manage and would not tell us about until completed.

ToBo

[tobo]

Anyone know how being on 2 exchanges works?
Presume a certain number are on ASX and total cannot change.
Or, what is involved in buying HTM and getting them 'converted' to HGD.

ToBo

[tobo]

......Aus specs have been hit harder than NZ, and aus investors are selling down everything, and HTM sp is just where it fits against those other equivalent explorer speccies.....

Hard to find a similar co in aus. for comparitive
HGD mkt cap Au$10m for 200,000oz resource = $50/oz
NAV mkt cap Au$66m for 870,000oz resource = $75/oz
(ignores HGD Cobalt, and size of upside, ignores NAV RE etc)
and Navigator reckon they are cheap compared to others.

DIYROTBOAE.

ToBo

[Oiler]

[quote=Jess9;195411]Hope not. BAP deserves to be onboard for the fun which should start (fingers xed) towards oppie conversion date - when Waihi drill results and hopefully IPO cobolt status will become clear. Maybe even an up date on the U project... I'd be happy for another party to come on board with this one, at the right price.[quote]

Jess9 I agree with you....BAP is still onboard like most of us :D

We have been told that the company is busy doing survey work so until that is done there is nothing to report.

Lets not "worry" because BAP hasn't reported in lately. We all make our own investment decisions, dont we :)

Oiler

[BAPP]

Sorry I haven't been contributed much lately, however IMO there hasn't been much to write about... and I've been particularly busy with 'end of year' financial 'stuff' for my business.... which obviously takes priority.;)

Yes, I'm definitely still 'up to my neck' in HGD shares and have added a few more to the portfolio while the price has been low.:)

Just to reaffirm, I have no intention of selling my HGD shares in the short to medium term and I remain confident that Trent and his team will make positive progress this year.:D

I agree with Jess9 that 'things' should start 'hotting up' as we get closer to the next conversion date and again I would expect the June quarterly reports to give us some clearer indication of any progress at Waihi and Broken Hill.

We should have the March quarterly reports out in the next fortnight so lets hope for some positive guidance from management.

Otherwise I'm just waiting patiently as I see no need to even consider selling at the moment.:)

Cheers
BP:)

[tim23]

Tobo - don;t think in this situation you can x-fer from one exchange to the other; mainstream stocks are ok (e.g GPG, tower) it might be because they are part of Newcastle exchange?

[tobo]

cheers, Tim23, quessed as much.
The relationship between the same share on different exchanges still bothers me - seems murky, and seems as if we ought to know how many are on each (I suppose one can figure that out by looking at original issue docs?).

Living in NZ, I have been buying HGD not HTM because of the extra 5% FIF tax I'd have to pay (as already have lots of wee Ausi stocks).
But I feel disadvantaged by the thinner depth. (I guess not 5% disadvantaged, if I am 100% rational LOL.)

[Jess9]

Must be any day for the last 2007/08 quarterly activity report. This should give us some steer on how and where action will develop later in the year, as actual results get announced. 15+ g/tonne thanks : )

[JMKC]

I'll give you guys some assistance on dual listed issuers. Theoretically, tt makes no difference whatsoever as to which register the shares are held on at any one time, because any market inefficiency should be arbitraged away.

In HGD's case however, liquidity is fairly light. The NZ stock tends to trade at a slight premium over HTM for a couple of reasons. 1 - it seems like NZ holders like to bid it up. 2 - it is very difficult to arbitrage away the difference (obviously taking the fx rate into account), because there is very little borrow available in HGD. That means to short the stock in NZ and buy it in AU (ie arb), you incur fail fees on the short sold line, because you can't deliver the stock in time to the buyer in NZ who you sold to.(trades are settled T+3 in both mkts.)

If anyone wants more detail I can give it to them but this should outline why the premium doesn't get arbitraged away.

[brettdale]

Must be any day for the last 2007/08 quarterly activity report. This should give us some steer on how and where action will develop later in the year, as actual results get announced. 15+ g/tonne thanks : )

Surly there will be no surprises though?

[Jess9]

yip no "announcement" level info, but it can/should give a good picture of how well current drilling and mine review is progressing. Helps connects the dots (of the announcements) if content is solid and well written.

My guess is HGD team is tail down to get the share price rolling prior to oppie date. 10c plus would put needed next step capital in the bank as well as show to the market that changes over the last 12 months are delivering results.

Trent also has oppies riding on 10c plus for the following year. This could be an opportunity of a lifetime for him, if he can get the heads well over that by then. But of course at as of today this is just wishful thinking : ) Lets see what develops.

[BAPP]

yip no "announcement" level info, but it can/should give a good picture of how well current drilling and mine review is progressing. Helps connects the dots (of the announcements) if content is solid and well written.

My guess is HGD team is tail down to get the share price rolling prior to oppie date. 10c plus would put needed next step capital in the bank as well as show to the market that changes over the last 12 months are delivering results.

Trent also has oppies riding on 10c plus for the following year. This could be an opportunity of a lifetime for him, if he can get the heads well over that by then. But of course at as of today this is just wishful thinking : ) Lets see what develops.

Hi Jess9,

The March quarterly reports should be released this week, but IMO the next quarter will be one we need to watch for some 'headline' news.

With the 'options' conversion date around September (from memory), this may be a 'last chance for HGD management' scenario for some of the 'faithful' shareholders who have stayed with the company.... especially given the concerns over the lost opportunities and $$$ with warrant conversion last year.

Given the time frames of previous drilling results at Waihi, I would anticipate some news 'filtering' through in June, so just in time, one could say!

Fingers crossed it's all good news so those 'options' are worthwhile and the company gains some added funding to progress the planned developments.

Cheers
BP:)

[Jess9]

Good to hear you back on this board BAP. Re warrants - don't remind me : ( However, I've picked up a few 08 and 09 oppies in addition to some heads and still have fingers x'd that my original $$$ expectations are only delayed...be nice to ride a price re-rate well through 20c and only be worrying about how not to sell too cheap in the near future! The ducks are all there, they just need to be made to line up!!

J9

[whatsup]

Up -up and possible/dare I think it Aw@-----!

[STRAT]

Hi Guys and Gals,
I havent checked in here for quite a while. I have to say your loyalty to these guys is amazing. After reading the last two posts I thought hell better check the SP. Perhaps Im missing a run here only to find its only up a tad from around half what it was last time I looked. How do you keep the faith?

[BAPP]

FOR PUBLIC RELEASE

Quarterly Report to 31 March 2008

Heritage Gold is pleased to present this quarterly report for the period
ended 31 March 2008.

Highlights:

- Heritage announces Scoping Study for Talisman Mine
- High resolution aeromagnetic survey of Waihi gold tenements completed

- Ground magnetic survey of Waihi North tenement completed
Deep diamond core drilling commenced at Rahu-

SCOPING STUDY ON TALISMAN PROJECT
On 18 March, Heritage announced its intention to undertake a Scoping Study as
part of the process of evaluating the Talisman mine asset and commencing to
move it forward as a development project. The company will engage a
recognized, external mining specialist to provide advice and a critical
appraisal of the study. It is anticipated the study will be completed by mid
June.

WAIHI DISTRICT GOLD EXPLORATION

Waihi Gold Tenements

High-resolution aeromagnetic survey of the Waitete, Waihi North and Golden
Valley tenements was undertaken in mid February. The data from this survey is
being processed. The location of these tenements around Waihi, is shown in
Figure 1 below.

Figure 1: Waihi and Karangahake Tenement Locations

The data from a ground magnetic survey of Waihi North, in the area adjacent
to the Martha open pit, is also being assessed. An electrical resistivity
(CSAMT) survey, within the area outlined below, will be completed in April.

Figure 2: Heritage Survey Grid of Area Adjacent to
Martha Open Pit Mine, Waihi

Information from this survey, as well as the aeromagnetic and ground magnetic
surveys, should provide valuable information for determining drill targets.

A close-spaced soil sampling programme across the same grid is almost
finished and over 600 samples which will be analysed for gold and pathfinder
elements.

Earlier surveys and drilling of the Waihi North tenement, adjacent to the
Martha mine, have shown the existence of zones of hydrothermal alteration
which are indicative of the potential for gold-bearing veins.

The intensive geophysical and geochemical surveys that Heritage has carried
out over the past three months will help determine if there are quartz vein
structures that are gold abomalous.

The current electrical resistivity (CSAMT) survey is due for completion about
mid April. All survey data will be processed and reviewed for prospective
anomalies by mid May, when the company plans to begin diamond core drilling.

Karangahake Gold Tenements (Heritage 100%)

In March, Heritage announced its intention to undertake a Scoping Study of
the historic Talisman Mine as the first step in moving to ultimate
development of that this key asset. A recognized, industry expert is being
engaged to provide a critical appraisal of the study which the company
expects to complete by mid June.

Diamond core drilling in Rahu commenced in March. Several possible drill
sites have been planned. Deep drilling from these locations is focussed on
drill targets within an anomaly identified by previous geophysical surveys
and is based on the drill holes that exhibited the highest anomalous gold
values in the 2007 drill programme.

Currently, the first drill hole of the 2008 programme was about 80% complete.
The planned 2008 programme could take 4-5 months.

Figure 3: Diamond Drill Rig On First Hole at Rahu

Commencement of the programme was hampered by the current 'drought' in the
region, and the limitations it has imposed on water take for drilling.

THACKARINGA COBALT PROJECT
Subsequent to advancing Broken Hill Cobalt Limited ('BHCL') a convertible
loan of A$137,500 in December, to assist BHCL through a proposed listing,
capital markets became particularly difficult.

BHCL is currently reviewing its capital raising options with the intention of
proceeding with the planned IPO when market conditions improve.

DUNMARRA BASIN URANIUM
Reconnaissance drilling of the three Dunmarra Basin exploration licences is
planned for about July. The initial exploration focus will be air core
drilling on a tight grid, close to water bores that have radiometric
anomalies.

[Jess9]

Thanks BAP. I think that the content is more informative than some of the repeated info we had had in the past, accepting that it is a quarterly. Satisfying also to read that meaningful work is being done, which with a bit of luck will achieve for shareholders a significant increase to the gold/silver resource.

The new plan mentioned is good (as the last one must be well out of date) as long as the coy this time stays focused and does what it says to completion!

[BAPP]

Thanks BAP. I think that the content is more informative than some of the repeated info we had had in the past, accepting that it is a quarterly. Satisfying also to read that meaningful work is being done, which with a bit of luck will achieve for shareholders a significant increase to the gold/silver resource.

The new plan mentioned is good (as the last one must be well out of date) as long as the coy this time stays focused and does what it says to completion!

Hi Jess9,

Agree!... your last paragraph being the 'key' point!

Nothing new in this quarterly report, but I'll be looking out for some positive announcements in this quarter.

Cheers
BP:)

[BAPP]

While the price of cobalt has drifted to just under US$50/lb the overall outlook still looks very favourable (see article below). I hope the board of BHCL/HGD can get things moving with Thackaringa project in the not too distant future.

... and of course Talisman/Waihi also!

Cheers
BP:)


LONDON, April 24 (Reuters) - The global trend towards more frequent air travel should keep planemakers busy and in turn ensure prices of rare and hi-tech metals such as cobalt, rhenium and titanium stay strong for years.
Often mined in inaccessible and risky territories, these metals are prized for their exceptional strength and heat resistance, making them essential for jet engines and airframes.

"Two engines use twice as much cobalt and rhenium as one engine," said Stephen English, who trades cobalt for London-based merchant SFP (Metals).
On Wednesday, Boeing's commercial planes unit said it would deliver 475-480 aircraft this year, rising to 500-505 in 2009. It delivered 441 commercial aircraft in 2007.

"That's why we're in eye of the storm," English said.
"Today, you have evidence that refined cobalt supply is 54,000 tonnes, and demand is between 61,000 and 65,000 tonnes."

Though aluminium is the metal most widely used in aircraft, the aerospace industry represents only around 3 percent of world aluminium consumption, said consultant James F. King at an industry conference in Barcelona last week.
Aerospace is by far a more crucial end market for less well-known, but much higher-value, metals.

One of these is cobalt, a blue-tinted metal mined mainly in the Democratic Republic of Congo, Australia and Canada by firms including Camec, BHP Billiton, Xstrata and Vale.

It trades at around $50 per lb on world markets -- making it more than 30 times more expensive than aluminium -- near to an all-time high, and up more than 50 percent since last April.

In 2007, almost a quarter of the world's cobalt was used in materials known as 'superalloys' which are capable of withstanding temperatures of up to 1,100 degrees Celsius.

Some 75 percent of these went into aircraft, according to figures from industry group the Cobalt Development Institute.

Sustaining cobalt prices is the fear that as demand accelerates, supply may not be able to grow quickly enough to meet the world's needs.

Though there are new mines scheduled to come on-stream around the end of the decade, many in the market are uncertain they will reach production as quickly as their owners plan.

Power supply and infrastructure issues in the DRC may hinder project development, while the generally higher cost of bringing mines to production, linked to rising steel and energy prices, can lead to delays or cancellation, according to a presentation given by J. Scott Bending, president of Canadian metals explorer and refiner Formation Capital.

"Very few entrants into the high purity cobalt market within the next decade are anticipated," he said.

On Tuesday, mining firm Lundin said capital expenditure estimates for the Tenke project in the DRC, said to be one of the world's richest cobalt deposits, had doubled to $1.75 billion from last October's figure of $900 million.

Several other projects in the DRC have been delayed, or production forecasts reduced

[Jess9]

Thanks BAP.

Cobolt IPO delay (till August/September?) won't matter as long as work to start production is currently proceeding. Much easier and more valuable to sell a profitable operation, than a likely permit. So mining permits, confirmed resource, staff, gear, sales contracts etc all need to be checked off.

Traction soon, may make HGD headline over NZO on this board! (and get in the top 10 rises again) Roll on September and some decent value appreciation. The board/management has been changed, they have had a successful cap raising and plan seems good, and some time to implement, so its nearing time for s/holders to share in the reward!!

[BAPP]

Thanks BAP.

Cobolt IPO delay (till August/September?) won't matter as long as work to start production is currently proceeding. Much easier and more valuable to sell a profitable operation, than a likely permit. So mining permits, confirmed resource, staff, gear, sales contracts etc all need to be checked off.

Traction soon, may make HGD headline over NZO on this board! (and get in the top 10 rises again) Roll on September and some decent value appreciation. The board/management has been changed, they have had a successful cap raising and plan seems good, and some time to implement, so its nearing time for s/holders to share in the reward!!

Hi Jess9,

According to the presentation at the last shareholders meeting two 'mining' permits are already in place for BHCL. (Big Hill & Pyrite Hill). They have also extended their exploration permits to cover a wider area.

If you read the following link, drill findings in the neighbouring areas firmly indicate there is definitely cobalt resource in the region; http://www.havilah-resources.com.au/mutooroo.html

Lets hope BHCL's current cobalt resource estimates of 30 million pounds is just the 'tip of the ice berg' so to speak. Tungsten, nickel and gold are other metals that could possibly be found in this area.

Also at the meeting and in subsequent announcements it was strongly indicated that a large percentage of cobalt concentrate would be pre-sold to Asian interests.

This would suggest to me that BHCL should be in a good position to recommence the IPO plans as the capital markets 'settle down'. Fingers crossed this happens before September.

Cheers
BP:)

[Yme]

HTMO expire Sept 2008

BAP,,,
any chance of you popping into the office,,if one exists,,, and waking these guys up.

seriously ,,,this is absolutely ridiculous

Yme

[BAPP]

HTMO expire Sept 2008

BAP,,,
any chance of you popping into the office,,if one exists,,, and waking these guys up.

seriously ,,,this is absolutely ridiculous

Yme

Hi Yme

Yes, it would be nice to have some 'say'...

however I'm still confident that Trent will get the 'wheels' moving in the next quarter.

IMO we should 'hang on in there' until the end of July and then maybe re-evaluate any decision on whether to remain a shareholder.

It's always been indicated.. this is a long term, risky investment. The share price could easily turn around and 'hit' double figures on the 'right' news from any of the projects being developed.

Cheers
BP:)

[POSSUM THE CAT]

Bap do you mean 2026 the start of the next Quarter of the Century or More like 2048 towards the end of the next quarter.

[Jess9]

I intend to see where HGD is after September, that will be telling. After all there is an opportunity cost in the wait - costly if too long. If nothing significant by then, it could be more profitable to not hold but watch and wait to get back in. September then.

[mistymountain]

Well after buying into this company twice over the last three years and holding patiently I've come to the conclusion that there ain't much happening in terms of concrete progression. Literally.

Most of the shorts bursts of investor capital growth is based on speculation only.

Most of this threads comments are based on huge optimism.

Followed by more hope and optimism. I'm now feeling that my invested capital would generate greater return being invested in other resourse companies....

September looks like my cutoff now too... Any others??!

[COLIN]

Well after buying into this company twice over the last three years and holding patiently I've come to the conclusion that there ain't much happening in terms of concrete progression. Literally.

Most of the shorts bursts of investor capital growth is based on speculation only.

Most of this threads comments are based on huge optimism.

Followed by more hope and optimism. I'm now feeling that my invested capital would generate greater return being invested in other resourse companies....

September looks like my cutoff now too... Any others??!

I gave up on this crowd months ago. Since then I read somewhere that they have been making empty promises for over 40 years (can that be true?) while they continue to suck cash in from naive investors.
This fellow "Trent" (whoever he is) is supposed to be the great Messiah. Some Messiah!

[corran]

I gave up on this crowd months ago. Since then I read somewhere that they have been making empty promises for over 40 years (can that be true?) while they continue to suck cash in from naive investors.
This fellow "Trent" (whoever he is) is supposed to be the great Messiah. Some Messiah!

To be fair, it's 'only' been 20 years... ;-)

All that time and nothing commercially viable to show for it....

However I still have a small holding and I'm quietly confident we'll see a pick up in the share price before September. My reasoning:

1 - Judging from the quarterly and the MD letter to shareholders, the company is going all-out to increase their gold resource before September. There's new blood, new cash and a sense of urgency I haven't seen before at HGD. I reckon they're going to pull something out of the hat...

2 - It's been a brutal market for gold juniors but I reckon we're going to see a change of sentiment in the next month or two. Gold is undervalued compared to the historical gold/oil ratio, inflation is getting out of control, the Fed is printing money like there's no tomorrow, etc.

3 - The Cobalt & Uranium are big unknowns. I don't hold out much hope for their uranium tenements... I reckon it was a case of jumping on the uranium bandwagon. However I am quite excited about the cobalt, hopefully we get some good news re BHCL before September.

3 - There are some big names connected to HGD (Wariwck Grigor & Geoff Hill for example). They must see value there somewhere.

I'm holding onto my shares for now. I might even have a small punt on the options if they're going cheap...

[Jess9]

Yip, agree. I'd like to see significant results reported prior to September, from the changes and cash injected within the last 12 months. From those results, a head price of 12c plus by September, with options taken-up providing HGD management with further developement capital.

A 300% return would be a good reward (on current price) and prove that HGD is making shareholder wealth and not just more hot air! If they find the resources what they have been saying are there, this target is easily possible and in my opinion very likely! Time to step-up HGD!!!

[Jess9]

PS remember the large traunch of 8c oppies made available to Trent as incentive. This is a once in a lifetime opp to set himself/fam up - if he can realise the potential and flick HGD well into double digits, this stake could be worth 1-2m plus!! If I were him, and the stuff is there to be brought out...

[Oiler]

I gave up on this crowd months ago. Since then I read somewhere that they have been making empty promises for over 40 years (can that be true?) while they continue to suck cash in from naive investors.
This fellow "Trent" (whoever he is) is supposed to be the great Messiah. Some Messiah!

Colin...Messiah is perhaps a little rich :confused:

Trent is certainly "incentivised" to make a success of HGD and set himself up for life..........so lets give him the chance to complete his plan and prove up the gold resource in Waihi. An announcement in the third quarter will give us all the news we have been waiting for. :D

The past is the past and we can't do anything about it. Lets look forward and give the new plan a chance to work and produce. I am confident TL and his team will produce the gold.

I will continue to hold and quietly add to my holding.

Oiler

[brettdale]

I hope so.

[whatsup]

Down down down when will it stop!!!!!!!!!!!!!!!

[Jess9]

See 800K 09 oppies through today on ASX as well. Same ASX seller maybe? 800K oppies may mean 1.6m heads - if newly aboard.

[Kees]

Down down down when will it stop!!!!!!!!!!!!!!!

Don't worry Trent is on the shovel the only trouble is he probably
worked for the old mow.

[COLIN]

Down down down when will it stop!!!!!!!!!!!!!!!
When it hits the bottom!
But I suppose they will be expecting shareholder suckers to subscribe to another rights issue before then - but they'd better hurry up!

[Tanger]

Lots of buyers in the NZX market this morning (pre-opening) for HGD. Anyone know of any reason for this??

[tim23]

No but better buying on the ASX when you do the Mathes.

[Jess9]

Many more (1m) oppies through today on the ASX. Good buying there I agree - if you get your buy taken. Were a buyer to take the sell, much the same as the NZX. Depends how much guaranteed exposure you want and when and how high HGD move. HGD is very speculative but may become spectacular soon!

Of interest is the improved volumes, wonder how progress is going on all fronts. Fingers x'd volume + modest rise today = positive announcement soon!

Gappy spread on each market; with a falling kiwi this makes for some gut wrenching swings. Lets hope after some recent pain, some wealth creation is on the way : )

September is getting closer and I would sorely like to excerise the few 08 oppies I have collected - if the head price makes cents ; )

[brettdale]

A big move for HGD today.

[underground]

a part of me wishes i sold the rest of my holding at 9c while i had the chance =(

still optimistic about the future of this company, but the opportunity cost and time value of money are eating at any possible future return as each day goes by...

looks like it will take significant news to bring it to its all time high again.. hopefully something with BHCL or maybe a farm out of their uranium tenaments? god knows. good luck to all holders, these can be testing times.

[BAPP]

a part of me wishes i sold the rest of my holding at 9c while i had the chance =(

still optimistic about the future of this company, but the opportunity cost and time value of money are eating at any possible future return as each day goes by...

looks like it will take significant news to bring it to its all time high again.. hopefully something with BHCL or maybe a farm out of their uranium tenaments? god knows. good luck to all holders, these can be testing times.

Hi underground,

I'm sure a lot of shareholders agree with your 'sentiment'!

It's difficult to keep optimistic when the share price is 'lingering' at all time lows, however the 'SP' could just as easily 'swing upwards' on any positive news.

The feedback I have received suggests that the Talisman mine is the key focus at present.

I'm watching for progress news that indicates the 'scoping study' has been completed and there is evidence that economical viable mining can get underway with HGD establishing a treatment plant on site.

I quess progressing the BHCL IPO will be dependent on how the 'capital raising' markets in Australia re-establish over the next 6 months, but with the demand for cobalt globally there definitely seems to be a good opportunity for this project to be taken to the mining stage.

Lets hope for some news before the options expire in September!

Cheers
BP:)

[whatsup]

BAP, Arnt you "SICK" of this, down another 20% again today where is the GOOD NEWS . .08 Aust is a loooooooooooooooooong away for the oppies.

[skeet]

BAP, Arnt you "SICK" of this, down another 20% again today where is the GOOD NEWS . .08 Aust is a loooooooooooooooooong away for the oppies.

Its not down today on any news or anything, probably just a small holder wanting to cut his loses.

Probably a good bargain right now at 3c.
disc looking at buying more.

[brettdale]

Do they have any announcements that are scheduled coming up?

[Jess9]

I picked up a few today, very happy to accumulate at this level - as long as planned action stated by Trent is occurring and on track. Selling was driven by AUS and by a larger seller who appears to have needed out. Buy and sell spread is huge post this (over 1m traded on ASX today). Interesting to see if this "overhead" is now clear. Considering this, any positive news could certainly bounce this one back quickly from current levels - IMHO.

[BAPP]

BAP, Arnt you "SICK" of this, down another 20&#37; again today where is the GOOD NEWS . .08 Aust is a loooooooooooooooooong away for the oppies.

Hi whatsup,

Yeah it can be 'tough' watching the share price continually drop. My investment in HGD shows a big minus at the moment, but I still believe there's good days ahead.

I suspect/quess most of the weakness is due to a 'few' investors deciding they have run out of patience or they simply need the cash for other reasons.

I've still been accumulating so if someone wants to keep selling at current price I'm happy to 'pick up' a few more.

Your right though... the option conversion price is looking a long way off at the moment. However there's still 3-4 months to go and the SP could turn around very quickly on any positive. Just look how the price jumped on the uranium news.

Will re-assess closer to September.

Cheers
BP:)

[Woody51]

Scraping along the bottom on the ASX. Typical of what happens to explorers who don't have a constant news flow, coupled with a tougher more nervous market. Let's face it, we are all stuck with them. The company seems to have no interest in updating us on the status of the cobalt IPO. That really miffs me and I see it almost as a breach of trust. If you go back 12 months and check the ASX announcements, they 'promised' much. Reinvigoration, shareholder transparency, etc etc. The only thing that's certain tomorrow, is that the sun will rise there'll be no updates from Heritage. Still hoping we'll make $ x 100 from them. But hope is not a word one likes to use when making market investments.

[croesus]

No Woody... its not at all certain there will be no ...updates from Heritage tomorrow.. in fact I am willing to bet there will be.. either tomorrow.. or dependant on data from Australia.. early next week.

Took the opportunity to pick up 100k at open on the AU Market today to add to my Heritage holdings.

cheers Croesus.

[tim23]

Cheaper on the ASX too!

[Woody51]

Croesus, of course I hope you are right. Remember your Aussie connection, when the shares were around 7c. It's sure time. We know that and I'm 'hoping' the company knows it. Cheers.

[BAPP]

and 'like voices from the grave'.:)

Hi croesus & woody51 ... good to know you're still watching with interest!;)

It's been a good opportunity to buy over the last week or so ... and easy money to be made if you were happy with a quick 20% gain!

A few scenario's may just 'fall into place' over the next few months, so IMO, 12-15 cents could still be a possibility in near future!

All the current projects, uranium, cobalt and gold seem due for news releases this quarter and if management wants to secure the funds from those options due in September, ... activity will be required!:)

Looking forward to some news from either side of the Tasman!

Cheers
BP:)

[Jess9]

Crikey, had to check I hadn't hit page 1. Welcome back guys! Hi BAP also. I think the head price has been pushed well into undervalued territory now from the selling out of AUS over the last wee while. I can easily see HGD getting back into the 6-8c range (100% gain from now) if that has know stopped as interest in the share is still there (and for good reason IMO). I still believe it could also easily spring from that well up into 20's where it to hit some good grades and tell the market how it plans to mine this i.e. approval of a pre-feasibility study/scheduled BFS or partnership arrangement. Investers in spec's want at least a 10 - 20 bagger plus. I think that HGD has the right mix of management, Board and permits to deliver more. From hear into September an interesting year should unfold!

[Jess9]

Still keen AUS sellers there today, 250K sold into depth. Hi Croesus, be nice to hear something interesting nxt week. Maybe a drilling update?

[skeet]

http://www.nzx.com/markets/NZSX/HGD/announcements/4566105


Waihi Gold Projects

The data obtained from the geophysical surveys carried out at Waihi North in
the past few months will be used to delineate diamond core drill targets
immediately north of the Martha open pit. This drilling is planned to
commence about mid June

Drilling to start in a couple of weeks!

[Oiler]

http://www.nzx.com/markets/NZSX/HGD/announcements/4566105



Drilling to start in a couple of weeks!

Skeet... you are very observant :) I did another top up today and will continue to mop up the "nervous nellies"

I am sure there is good news to come :D .

Notice that the big long term holders are standing firm. I think that should tell you something ;)

Oiler

[BAPP]

Skeet... you are very observant :) I did another top up today and will continue to mop up the "nervous nellies"
I am sure there is good news to come :D .

Notice that the big long term holders are standing firm. I think that should tell you something ;)
Oiler

Hi Oiler,

Good point regarding the 'big long term holders'. :)

You may also notice that the company's associated to Geoff & Matthew Hill increased their holdings in the past year and that these 'big' holders did not sell out when then share price 'topped' 12 cents last year.;)

Food for thought?:

Cheers
BP:)

[Woody51]

They have probably forgotten they have got them BAP.

[BAPP]

They have probably forgotten they have got them BAP.

Hi Woody51,

Good one:D...and I might have agreed if they hadn't taken up their 'rights' last year.

Cheers
BP:)

[BAPP]

For those who may have missed Friday's announcement.

Full Year Preliminary Announcement

Reporting period 12 months to 31 March 2008
Previous reporting period 12 months to 31 March 2007
Amount ($); percentage change
Revenue from ordinary activities 116,270; +9&#37;
Loss from ordinary activities after tax attributable to members
of the listed issuer 964,9600; +11%
No dividend attributed to this period

During the financial year to 31 March 2008 Heritage Gold ('the Company')
raised over $4.4M from warrant and option conversions, share placements,
and a pro-rata rights issue to fund the work programmes during the financial
year to 31 March 2008 and the work programmes planned for the current financial
year.

At the end of the balance period the Company had a cash balance of
$3,240,000.

$1,558,048 was spent over the reporting period compared with $750,818 in the previous year.
No capitalised tenement expenditure was written off in the current period compared with $200,418
for loss of the Onemana tenement, in the previous year.

The past solid year of exploration activity has increased the value of our
land holdings from approximately $6.6 million to $8.1 million. The value of
the Company's high quality assets and its cash reserves is not fully
reflected in the share price at balance date.

During 2007 the greatest expenditures on exploration were on the Karangahake tenements
(Talisman, Dominion Knoll and Rahu). In early 2008 the focus of exploration shifted to the
Waihi gold tenements with ongoing activity continuing at Karangahake.

The current activity, interim results and other highlights are outlined
below.

Key Highlights

Gold Projects (Waihi district, New Zealand)

The raising of $3.7 million in equity financing through a rights issue and
private placement in November through to January allowed the company to move
immediately into an extensive 2008 exploration programme, with ground-based
geophysical and geochemical surveys of its Waihi North tenement, adjacent to
Newmont's Martha open pit, as well a high-resolution aeromagnetic survey of
its Waitete, Waihi North and Golden Valley tenements.

Further diamond core drilling of the strong resistivity anomalies at Rahu,
which are centred on the Rahu Ridge, north of the Talisman mine, was
commenced in mid March 2008. This is ongoing.

Thackaringa Cobalt Project (New South Wales, Australia)

In the run up to December 2007, Broken Hill Cobalt Limited ('BHCL') in which
Heritage has a 33% shareholding, planned to undertake an Initial Public
Offering to raise capital for development drilling of its cobalt resource
near Broken Hill.

However, the collapse of the capital markets in January 2008 left BHCL with
little alternative to putting these plans in abeyance until the market
conditions improve, possibly later this year.

In January, Heritage invested a further $157,000 in BHCL to support its
ongoing work in the planned IPO.

Looking Ahead

Talisman Project (Waihi, New Zealand) Development plans for the Talisman mine
were begun in November 2007 and early evaluative work lead to the announcement in March 2008
that the company was initiating a Scoping Study for developing this asset through prefeasibility and
feasibility studies to commercialization.

Phase lll underground resource drilling of the Maria, Mystery and Crown veins is planned for later in 2008.
Underground development (widening of drives, installation of ground support and excavation of underground drill cuddies)
to support this drilling programme has been scoped and is planned to be started about October.

Waihi Gold Projects

The data obtained from the geophysical surveys carried out at Waihi North in
the past few months will be used to delineate diamond core drill targets
immediately north of the Martha open pit. This drilling is planned to commence about mid June.

Base Metals Project (Northland, New Zealand)

The Company has commenced a preliminary evaluation of the geological
potential of its three prospecting permits, which are located between
Whangarei and the Bay of Islands.

Regional reconnaissance mapping of these permits is planned for August and
September once geological staff are freed up from the current exploration
programmes at Waihi.

Dunmarra Basin Uranium Project (Northern Territory, Australia)

The Company plans to commence drilling of the licences in July with a
programme of shallow holes that will be centred around the water bores that
have exhibited historic radiometric anomalies.

A drilling contractor has been selected and a project/geological team
assembled. The group will be on the ground in early July, following
completion of road development for access.

Trent Lash
Managing Director

[Jess9]

Thanks BAP. I saw the announcment but missed the content Friday. I think there will be a few interesting announcements based on what is in progress, as noted above in the lead up to up to September. I'm especially glad to hear the report mention phase three, still alive and kicking!

[BAPP]

Thanks BAP. I saw the announcment but missed the content Friday. I think there will be a few interesting announcements based on what is in progress, as noted above in the lead up to up to September. I'm especially glad to hear the report mention phase three, still alive and kicking!

Hi Jess9,
Good to see progress being made, although I would have 'liked to see things' at Talisman happening a bit sooner than October.
__________________________________________________ _____________
'Phase lll underground resource drilling of the Maria, Mystery and Crown veins is planned for later in 2008.
Underground development (widening of drives, installation of ground support and excavation of underground drill cuddies)to support this drilling programme has been scoped and is planned to be started about October.'
__________________________________________________ ___________

IMO the management needs to be very mindful of the options expiry date in September. An additional $2 million dollars plus in working capital could be very useful to progress further development of these projects, so they should not be letting any opportunities stagnate!

'Options' holders will be wanting the see the 'head' shares exceeding 14-15 cents before committing to the 'paying up', so there is still a lot of convincing to be done.!

Many shareholders will be reminded of last years 'warrant conversion' issues and therefore further capital may well be hard to come by if this opportunity is lost!

Only my opinion of course!

Cheers
BP:)

[Jess9]

I agree. I think if HGD can locate/report some high grade drill lengths it could achieve 15 to 20 and Trent will need to, if he wants to ensure oppie conversion. It would make a nice break from the past derivative fiascos; if achieved this time, it would be rather convincing evidence of more to come, but of course this is pure speculation as of this point. Still some downward pressure from the ASX, so at least some aussies are not yet convinced.

[Jess9]

Bit of life in the share price today - nice to see! Croesus, any thoughts on current progress?

[croesus]

Hi Jess, Had hoped for more in last weeks announcement, would be interested to know where we are at with the Newmont J.V.........drilling in a couple of weeks in the land adjacent ( North) to the Waihi pit is promising.... have heard a few rumours. but after being let down by my Aussie source last year.. will treat them as just rumours.
Whilst overweight on HTM/HGD am confident... andwill be buying more this week..
Regards Croesus

[whatsup]

Cro----, care to update us about the rumours ?

[croesus]

No............talk is cheap. we will know soon enough if there is any substance.... anyway the glass half full brigade will shrilly accuse me of ramping.

Croesus.
ps.. looking at todays trading.. maybe some one else.. has heard them ??

[skeet]

Hi Jess, Had hoped for more in last weeks announcement, would be interested to know where we are at with the Newmont J.V.........drilling in a couple of weeks in the land adjacent ( North) to the Waihi pit is promising.... have heard a few rumours. but after being let down by my Aussie source last year.. will treat them as just rumours.
Whilst overweight on HTM/HGD am confident... andwill be buying more this week..
Regards Croesus

Also looking at buying more this week, hopefully she tips below the 4c mark again. Things looking promising :)

[BAPP]

Also looking at buying more this week, hopefully she tips below the 4c mark again. Things looking promising :)

Hi skeet,

"hopefully she tips below the 4c mark again" ...... I hope not!:)..

It's a long way for the share price to 'hit' double figures, so I'm sure most shareholders and option holders would prefer to see the SP consistently raising from now on.

Personally I would rather be buying on the basis of 'certain' news/announcements, even if the price I had to pay was a little higher.

Cheers
BP:)

[skeet]

Hi skeet,

"hopefully she tips below the 4c mark again" ...... I hope not!:)..

It's a long way for the share price to 'hit' double figures, so I'm sure most shareholders and option holders would prefer to see the SP consistently raising from now on.

Personally I would rather be buying on the basis of 'certain' news/announcements, even if the price I had to pay was a little higher.

Cheers
BP:)


Only reason why I said that was becasue Ive still got an order in below 4c! :P

Would rather see it over 4c anyday!! :D

[skeet]

ADDITIONAL INFORMATION FULL YEAR PRELIMINARY ANNOUNCEMENT


HGD
03/06/2008
FLLYR

REL: 1558 HRS Heritage Gold NZ Limited

FLLYR: HGD: ADDITIONAL INFORMATION FULL YEAR PRELIMINARY ANNOUNCEMENT

3 June 2008

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

RESULTS FOR ANNOUNCEMENT TO THE MARKET

Additional Information to Full Year Preliminary Announcement

Reporting period 12 months to 31 March 2008
Previous reporting period 12 months to 31 March 2007

Reporting period; previous reporting period
($)

Balance Sheet
Reporting period; previous reporting period
($)
Current assets 3,552,576; 1,236,389
Cash 3,240,884; 787,314
Receivables and prepayments 311,692; 449,075
Non-current assets 9,115,372; 7,755,036
Property, plant & equipment 33,211; 10,164
Intangible assets (prospecting expenditure) 8,132,817; 6,585,547

Investments 34,009; 143,793
Investment in associate 915,335; 1,015,532
Total assets 12,667,948; 8,991,425
Current liabilities 421,045; 252,936
Payables 385,458; 245,759
Employee entitlements 35,587; 7,177
Total liabilities 421,045; 252,936
Net assets 12,246,903; 8,738,489

Note: This report should be read in conjunction with the Results for
Announcement to the market released on Friday 30 May 2008.

END

[Jess9]

Good strong close on the ASX! Maybe those aussies have had a change of heart, finally! Need a few weeks to tell however, but a good first sign.

Croesus, be very nice if HGD were to find a new resource in the Waihi North permit, they have always thought there is something next to the Martha pit along the same extension (look at past quarterlies)... so maybe the recent surveying has firmed this up? That would be a nice surprise. Anyway, as you rightly point out - all still purely speculation at this point. We want some good solid news to underpin a re-rate not flux from idle speculation or more nicely put wishful thinking ; ) On that score, look forward to results from work being done to prove up current reserves (at Talisman).

[BAPP]

Good strong close on the ASX! Maybe those aussies have had a change of heart, finally! Need a few weeks to tell however, but a good first sign.

Croesus, be very nice if HGD were to find a new resource in the Waihi North permit, they have always thought there is something next to the Martha pit along the same extension (look at past quarterlies)... so maybe the recent surveying has firmed this up? That would be a nice surprise. Anyway, as you rightly point out - all still purely speculation at this point. We want some good solid news to underpin a re-rate not flux from idle speculation or more nicely put wishful thinking ; ) On that score, look forward to results from work being done to prove up current reserves (at Talisman).

Hi Jess9,

IMO the focus in NZ hinges around the Talisman mine, so if there are current 'rumours' esculating out of Australia (re: comment by croesus), they will involve either the uranium or cobalt projects.

I am very confident that the Talisman mine will bring us some rewards in the near future, but I would suspect there is still a lot of work to be done, based on Friday's announcement.

It is quite 'interesting' to see who holds the 'neighbouring' exploration permits to HGD in the Dunmarra basin and also at Broken Hill.

Cheers
BP:)

[Woody51]

Kentor (a big buy) got out of their Dunmarra permits BAP, don't know who else is up there. I like the sound of the Waihi drilling and Newmont sniffing. Aren't Newmont running out of resource at Martha? A juicy JV would spice things up.

[BAPP]

Kentor (a big buy) got out of their Dunmarra permits BAP, don't know who else is up there. I like the sound of the Waihi drilling and Newmont sniffing. Aren't Newmont running out of resource at Martha? A juicy JV would spice things up.

Hi woody51,

I was unaware of KGL getting out of Dunmarra. I believed that late last year they increased their exploration permits in the Dunmarra Basin. http://www.kentorgold.com.au/admin/upload/071127%20KENTOR%20INCREASES%20LAND%20POSITION%20IN %20THE%20NT.pdf

Anyway you are quite correct that the progress being made is coming out of the Talisman mine and the focus being instigated in this project by the CEO.... and Yes Newmont is reportedly 'running out' of resource at Martha. (which is all good for HGD shareholders:))

However I was thinking that both the uranium and cobalt projects need a JV partner to get 'things up and going'. (and Havilah Resources amongst one or two other came to mind).

... but in reality we are only second quessing, unless someone can enlighten us!

Interesting times ahead!

Cheers
BP:)

[etrader]

yes a very lightly traded stock on asx under htm code, however just seemed a little different for the blocks at near close and the % increase today on asx, still trading at a discount to the hgd side.

could be a small leak hmmmm.

Time will tell

[Jess9]

Hi etrader, you'll have also noted the depth building back, on both sides as well. A good test over the next week or two will be if as such bids come up further, they do not get sold into from the ASX side. IMO 5c AUS is an easy reach if recent selling from AUS is over. 5c would put HGD/HTM back to where it was just prior to the cap raising last year. As gold and cobolt has risen in price and further progress has been made since then...however, the market is always right price wise, eventually ; )

[Woody51]

Jess, the only problem for me with the cobalt is that we don't really know what we've got. The company's story as changed over time, something that annoys me. If it's so HOT you'd think they'd be pulling out all stops. No communications with shareholders, even though many retail holders may have entered on the cobalt IPO promise. Are they doing anything in the field? There is still a communications problem with HTM Jess, and that's reflected, I think, in the shareprice. They'd have to have something really special for Havilah to be interested, they have enough going on.

[Jess9]

Hi Woody51. IMO (until proven otherwise) the cobolt is likely to just be iceing on the cake. Althrough at HGD's current price, value from this (when identified) could be a shot in the arm and support any increase quite nicely. Remember it is still reported at cost less past operating deficits (equity accounted) in the annual report; therefore the move to fair value when BHCL lists could be significant. The gold at Waihi still has to be where the real value waits (more quickly if Newmont comes on board). If we had 100% of the Cobolt permit, maybe a different story however we just hold 1/3, less post IPO. That said the cobolt play was viable at around $12 a few years ago and work has carried on there and the cobolt sale price is now around $50, so likely profit would be considerable more : ) Also I understand the ASX has no pure cobolt companies listed and ongoing demand for the product looks very positive to support prices or increase them further. The company has indicated that post IPO BHCL would be taken through BFS within two years.

[Woody51]

From the Kentor MD at the recent AGM.

"Kentor Gold conducted preliminary exploration during the year, including reviewing
all known data for the tenements in the Dunmarra basin.
The Company is now of the opinion that the tenements are not considered to be
prospective for uranium. No further exploration will be conducted on these
tenements as the board considers that shareholders funds would be better spent on
the more advanced projects the Company is exploring in the Kyrgyz Republic."

[Woody51]

Hey Jess, and u thought u were up early haaa ...

[Jess9]

Yip, haa haa... early birds and all that eh : )

[BAPP]

From the Kentor MD at the recent AGM.

"Kentor Gold conducted preliminary exploration during the year, including reviewing
all known data for the tenements in the Dunmarra basin.
The Company is now of the opinion that the tenements are not considered to be
prospective for uranium. No further exploration will be conducted on these
tenements as the board considers that shareholders funds would be better spent on the more advanced projects the Company is exploring in the Kyrgyz Republic."

Hi Woody51,

Thanks for the Kentor update.

Did you get 'kicked out of bed this morning?;)

Cheers
BP:)

[Woody51]

Yeah haaa and now I'm too tired to go to work ...waaaa.

[Woody51]

BAP, how far exactly is our Broken Hill Cobalt tenements at Thakaranga from Havilah's Mutooroo Copper-Cobalt Project. Is there a map anywhere one can refer too?

[BAPP]

BAP, how far exactly is our Broken Hill Cobalt tenements at Thakaranga from Havilah's Mutooroo Copper-Cobalt Project. Is there a map anywhere one can refer too?

Hi woody51,

I haven't seen any maps, but from what I have read the Thackaringa project is 25-30km south west of Broken Hill and Havilah's Mutoooo project is about 30km further out.

There seems to be a lot of similarities between two projects and both projects have taken a similar 'paths' over the last few years, although it would seem Havilah may be a step or two ahead!;)

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

Plenty of info on Google also.

A JV for BHCL might be a good way to get things 'rolling' at Thackaringa.

IMO they need someone 'driving/progressing' this project full time as it seems not to be a priority for management at the moment?

Maybe someone has some 'enlightening' thoughts on this!

Cheers
BP:)

[Woody51]

All I know is that Mootoroo is one of Havilah's company makers, and why we'd be sitting on our bottoms beats me, especially as HGD coughed up and extra $130,000 odd dollars recently to kick things along. There is a lot of "trust us we're from HGD" in all of this, but in all honesty, I'd suggest most of us probably don't.

[Jess9]

Perhaps a few specific questions to Trent are required.

[BAPP]

Perhaps a few specific questions to Trent are required.

Hi jess9,

With regards to BHCL, I would suspect Geoff & Matthew Hill would be 'holding the reins' ... so to speak. Ralph Stagg is the CEO and I believe Trent has very 'little' input with regards to BHCL.

Remember Soco (Southern Cobalt) which is controlled by the 'Hills' holds 67% of BHCL and they are also the largest shareholders in HGD.

The work/consulting being done for the BHCL is all being handled in Aussie, and my understanding is that Matthew Hill is in 'charge' of the IPO process.

IMO they should either 'get on' with the IPO or HGD should sell of their stake and focus on Waihi

Cheers
BP:)

[ScrappyO]

Hi jess9,



IMO they should either 'get on' with the IPO or HGD should sell of their stake and focus on Waihi

Cheers
BP:)

HGD selling the stake could be an excellant idea...more funds for Waihi. Its not like the cobalt side of HGD has lifted the share price. :)

[Woody51]

Take your point that HGD only have 30 odd percent of BHCL, so Trent wouldn't be pulling the strings. But as we know, the Hills' have sat on this one for ever. Given that they hold such a big stake in HGD too, it really is an awkward mix, even if Trent wanted them to pull their fingers out. Still think Warwick Grigor's deal making must be a factor in the BHCL mix. He's on the record as saying he's on board to get things cracking.

[BAPP]

Still think Warwick Grigor's deal making must be a factor in the BHCL mix. He's on the record as saying he's on board to get things cracking.

Yes ... and some would say that the talk is cheap! .. and he hasn't done much too change the 'fortunes' of this company to date.

The only 'action' seems to be coming out of Waihi!

Cheers
BP:)

[Jess9]

IMO Trent should ensure HGD holds BHCL till at least the cobolt resource is firmed up. It would only make cents for OTHER holders were HGD to sell too early and possible for too low a price. Be a shame to flick on shortly for a few cents per share only to find out in 12-24 months that it held dollars of resource!

When the resource level is more certain the board will be in a position to make an informed decision, selecting what option best adds value to the company. Till this time, it should hold its shares. I agree with BAP in that my gut feel is HGD should soley focus on its "world class" Waihi permits. Getting Talisman re-commissioned and aggressively adding local resource to the books would seem the most straight forward way to creat significant value for holders. If a partial sale of BHCL (WHEN ITS COBOLT RESOURCE IS BETTER UNDERSTOOD) were to fund this, then less dilution and therefore greater exposure to (fingers x'd) wild appreciation for holders ...which we all rightly deserve ; )

[croesus]

Note that well over a million shares traded in NZ and AU today. ( which could be good or bad)....re HGD/HTM whilst I hold a good number.. must admit that I would sell the lot.. for a reasonable profit.... with no regrets.. this company has been dicking around for over 20 years.....the last CEO in my opinion was a disaster... the mind boggles at what he did all day...the new guy .. Trent.. to my mind is still on probation.. but not for much longer...our interests in Australia remain a mystery ...and now (this week) we are told that shortly exploratary drilling will start ..immediately to the north of Newmount.. Waihi mine.... well f*#% me.. why were we not doing this 5 or 10 years ago.... by the time we possibly get a J.V organised.. gold will be back at $300 a ounce.

[whatsup]

Does anyone know the amount of gold that Newmont has taken our of Waihi , how much per year and for how many years, what oz.s are left yet to be mined and how long will that last, what does it cost them to mine each oz , approx $400 us I think from memory.

[Jess9]

Croesus, could be time to dust of that shovel again ; ) Trent might actually be starting on the "digging out" that previous management should have been focused on doing, as you rightly note years ago.

[BAPP]

Croesus, could be time to dust of that shovel again ; ) Trent might actually be starting on the "digging out" that previous management should have been focused on doing, as you rightly note years ago.

Hi Jess9,

We already know there is gold waiting to be 'dug' up at the Talisman, but the big question will be whether it can be done economically and can the funds be raised for a treatment plant.

I quess one of Trent's big problem is how to utilise the cash reserves to give the biggest 'bang for our buck'. It costs lots of $$$ for drilling programmes.

IMO it would be preferable to keep progressing Talisman and quantify the potential there and gain some momentum in the share price, so the options are taken up in September.

This would then create additional funding to progress the drilling programmes etc.. and the same could be applied to BHCL.

Cheers
BP:)

[BAPP]

Does anyone know the amount of gold that Newmont has taken our of Waihi , how much per year and for how many years, what oz.s are left yet to be mined and how long will that last, what does it cost them to mine each oz , approx $400 us I think from memory.

Hi whatsup,
I'm going a bit by memory here, but I think the Martha mine has been producing around 100,000 oz of gold & 700,000 oz silver since 1988. So approx 2 million oz of gold over 20 years.

I believe the Martha mine is close to being closed down in the next year or two, unless Newmont can establish new gold resources and extend the pit walls towards the township. (Remember HGD existing permits almost surround the Martha pit.) see: http://www.heritagegold.co.nz/tenWaihi.html

Over the past 2-3 years Newmont have been focussing their exploration around the Favona underground mine which is a short distance from the Martha mine.

I am unsure of production costs, but I have heard figures of between US$300-$350 per oz. I believe it is 'cheaper' to mine from an open pit rather than from underground mines.

Cheers
BP

[Jess9]

http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10495980

check out the last two paragraphs ; )

[Jess9]

The above was dated Tuesday, March 4, 2008.

[Jess9]

Also of interest to the regulars...http://www.marthamine.co.nz/

I think I see our permit peeking over that North wall : )

[Jess9]

If Newmont were to have their application for eastern and western wall extensions accepted (increasing the life of the pit to 2015) this could be the cue for Newmont to approach HGD to either outright buy the northen wall permit or enter some JV arrangement. Were this to happen, maybe Trent could get good cash out of it up front AND access to their processing and equipment to fast track Talisman to early production. Even selling a small portion of its known resource could bank roll further exploration to increase resource/mine life, or fund a stand alone processing plant. Anyway, just a few ruminations after a glass of red.

[Jess9]

A picture says a thousands words: http://www.heritagegold.co.nz/tenWaihi.html

[Woody51]

My concern is that even if (when) Trent delivers the good news, the market will yawn. I know this sounds self-defeating, but there are so many opportunities out there. There's at least 20 exploration stocks I'd like to buy now if I had the cash. I look at Pike and want to cry.

The opportunity cost for me has been huge. Luckily I have had some goodies ticking along like GLXO etc, but HGD has been a disaster. The shareprice is down there with the perennial dogs like Lakes Oil. It's hard to imagine there has been a worse performing resource stock over the last 18 months, least of all one with a 250,000 gold JORC. The people who have controlled this company over many years, should hang their heads in shame. Years of doing little more than satisfying their lease agreements.

As I have said before, I came on board when Warwick Grigor was appointed a non-executive director. Back the jockey. Since then there's no doubt Trent has acted quickly and professionally, actioning the long overdue drilling of Talisman and setting clear priorities. He's smart and experienced and I am sure the Newmont synergy isn't lost on him. However, the lack of transparancy and silence regarding BHCL is disgraceful and reeks of the 'old' HGD. I checked the ASX reports again last night and it is impossible to ascertain over the last few years what has or is going on. The story keeps changing. They've even stopped mentioning the indicated resource. And the Chinese connection? Perhaps just whispers.

If I have got this totally wrong then HGD is to blame. We are given scraps of information to work with. Perhaps it isn't our company after all. How shareholders could roll up to AGMs year after year, smiling through their cream sponges while having the wool pulled over their eyes, beats me.

As I said a few days ago, I'm stuck with the stock and psychologically have written it off as a learning experience.

If by some (unlikely) chance it comes good, then I'll be the first to say privately to friends: "I always knew HGD would deliver". And I'll be there for our party too. My name tag will say Bermuda, Shasta, or perhaps even BAP's brother. Woody51 will be long gone.

[Jess9]

Hi Woody 51 (aka Bermuda/Shasta?) "I look at Pike and want to cry." I agree Pike has had a great run. But also to place the $1.10 gain into perspective; that is just over 100&#37; on an initial investment, or a "one bagger". I would suggest in the know speccie punters would be anticipating a likely return of at least 1000 to 2000% from HGD.

I look at HGD at its current share price level, know what funds it has and what it is doing with them, and have considered this in the context of the continuing resource super-cycle. On that basis HGD's price could flip twice (200%) on just a puff of success right now.

Holding speccies can be a wild ride - both ways (no denying that). I'm happy to sit tight, accumulate when I can and see what Trent and Warwick can deliver. Remember they have massive OPTION inventive too (so it won't be purely for salary and love of the game ; )

I would also suggest that to some extent their REPUTATION will be riding on how well and quickly they can turn HGD around in terms of deliverying key results which should roll on quickly giving holders big share price gains (knock on Wood : )

[BAPP]

If by some (unlikely) chance it comes good, then I'll be the first to say privately to friends: "I always knew HGD would deliver". And I'll be there for our party too. My name tag will say Bermuda, Shasta, or perhaps even BAP's brother. Woody51 will be long gone.

Hi Woody51,

That would be my long lost 'older' brother wouldn't it!;)

Hang in there a bit longer... I agree with some of your sentiment, however we nor Trent can change the past.

There has been some renewed interest on both exchanges this week and something has to happen to make the shareprice jump to 12-15 cents, if management want the extra funds available from the options.

Maybe a reassessment in September.

Cheers
BP:)

[ScrappyO]

"I look at Pike and want to cry"

I look at HGD and want to cry.....Like you i feel im stuck with HGD..HGD is an emotional rollercoaster, for me sometimes im glad im in sometimes not but hey they must deliver soon. :o

[Jess9]

Super-cycle continues.

Last sale Friday:

Commodity Last Change

Spot Gold $US 900.30 +$23.95 +2.73%

[BAPP]

Also of interest to the regulars...http://www.marthamine.co.nz/

I think I see our permit peeking over that North wall : )

Hi Jess9,

Yes...just along the 'tree line' on the northern side ...and all the way to the coastline.

Thanks for the link above, some interesting stuff!

I have also heard suggestions that the gold vein which runs up the north side of the Martha continues into the HGD permit area. I'm sure Trent and his geology team are investigating that possibility.

I understand that Newmont have increased their drilling programme over the past year. They had been averaging around 20,000 metres of diamond drilling per annum in their existing permit area without a lot of success.

So if we take a look at the map of the existing permit areas (http://www.heritagegold.co.nz/irLetter.html) it is easy to make a conclusion that favours HGD.

Then there is also the Talisman sitting on the southern side of the river. (some 'local' knowledge suggests these gold veins continue north also)

Cheers
BP:)

PS: Maybe Newmont will come to the conclusion that they have no where else to go!

[BAPP]

Hi Jess9

some additional info/reading:

http://www.crownminerals.govt.nz/cms/news/2008/heritage-gold-flies-waihi-aeromag-and-starts-drilling-rahu-holes?searchterm=martha

http://www.contrafedpublishing.co.nz/QM/A+prospectors+vision.html

Cheers
BP:)

[Jess9]

Great reading BAP, thanks!

"The pay-off for investors could be 20 to 30 times their investment, he adds. At the end of 2007, Heritage Gold raised 3.7 million for further exploration through private placement (which was over subscribed) and from existing shareholders through a rights issue (in less than two weeks).

“The industry is feed by exploration companies and you easily spend a lot of money pursuing those dreams and find nothing, and if you do hit big, you are generally taken over by a larger group. So it is a food chain.”

When you are prospecting around the interests of the world’s second largest gold miner, it is understandable that relationships between Newmont Waihi and Heritage are very close.

“Newmont is taking an interest in what we are doing, and sitting back waiting for us to find something,” says Lash.


No flies on Trent then ; )

90c to 120c/share AUS would suit me fine : )

[BAPP]

Great reading BAP, thanks!

"The pay-off for investors could be 20 to 30 times their investment, he adds. At the end of 2007, Heritage Gold raised 3.7 million for further exploration through private placement (which was over subscribed) and from existing shareholders through a rights issue (in less than two weeks).

“The industry is feed by exploration companies and you easily spend a lot of money pursuing those dreams and find nothing, and if you do hit big, you are generally taken over by a larger group. So it is a food chain.”

When you are prospecting around the interests of the world’s second largest gold miner, it is understandable that relationships between Newmont Waihi and Heritage are very close.

“Newmont is taking an interest in what we are doing, and sitting back waiting for us to find something,” says Lash.


No flies on Trent then ; )

90c to 120c/share AUS would suit me fine : )

Hi Jess9,

You maybe interested in these links also.

http://www.heritagegold.co.nz/mediaVideos.php?movie=RNZ-HG.flv

http://www.tv3.co.nz/VideoBrowseAll/BusinessVideo/tabid/369/articleID/54463/cat/41/Default.aspx#video

Cheers
BP:)

PS: 90c to 120c/share AUS would be fine with me too!

[Jess9]

Good to see "the plan" succinctly stated and in place at the top...

"Re-opening the Talisman

Heritage Gold took over the lease of the Talisman mine in 1992 under local rumblings of ‘claim jumping’. The previous operators, Southern Gold, inadvertently let its permit expire. It happened during changes in the Minerals Act and Southern Gold may have overlooked their renewal obligation, but the move was totally legitimate, Heritage MD Trent Lash stresses.

The easy gold from the Maria and Crown lodes of the Talisman Mine was taken out by hand between 1875 and 1915, but mining continued under a number of different owners before closing in 1992. Total production was more than one million ounces of gold and three million ounces of silver. Historically, ore grades have been exceptionally high, averaging 27 grams per tonne of ore, which is almost an ounce (also known as a ‘bonanza’). The average underground mine grade is a more modest seven grams per tonne.

“In the 1980s, owners Cyprus Gold found a bonanza in the mine with levels that were determined at almost 1100 grams per tonne,” says Lash.

An underground drilling programme in 2005 delineated a JORC resource of 205,000 ounces of gold at a grade of 6.9 grams per tonne and 800,000 ounces of silver at a grade of 27 grams per tonne. Lash says with more extensive and deeper drilling (to around 400 metres) and exploration, the resource should more than double to 500,000 ounces of gold.

“The resource is definitely there, it’s just a case of investing money into a drilling programme to delineate it. We also we believe the ore bodies extend under the Ohinimuri River and across the gorge about 3.7 kilometres north and northeast.”

The main access level (L8) was partially refurbished by Heritage in 2003 and subsequently opened up for underground drilling in 2005.

For deeper drilling, level 8 needs to be widened in part to get the sampling equipment and allow bulk ore sampling, says Lash.

“Once that’s done – the next phase is to look at the feasibility of applying a mining permit across the resource and attracting investment to open up the mine.”

By then, Heritage Gold would have invested close of $2 million in exploring it Waihi tenements and there’s no guarantee the resource will reach mining permit levels, yet Lash’s prospecting optimism is unwavering.

“Very few exploration companies have this level of asset… you have to admit that everything is in alignment for Heritage to make some significant moves over the next 12 months.”

Thanks again BAP - great reading on a gold day like today ; )

[BAPP]

Good to see "the plan" succinctly stated and in place at the top...

"Re-opening the Talisman

Heritage Gold took over the lease of the Talisman mine in 1992 under local rumblings of ‘claim jumping’. The previous operators, Southern Gold, inadvertently let its permit expire. It happened during changes in the Minerals Act and Southern Gold may have overlooked their renewal obligation, but the move was totally legitimate, Heritage MD Trent Lash stresses.

The easy gold from the Maria and Crown lodes of the Talisman Mine was taken out by hand between 1875 and 1915, but mining continued under a number of different owners before closing in 1992. Total production was more than one million ounces of gold and three million ounces of silver. Historically, ore grades have been exceptionally high, averaging 27 grams per tonne of ore, which is almost an ounce (also known as a ‘bonanza’). The average underground mine grade is a more modest seven grams per tonne.

“In the 1980s, owners Cyprus Gold found a bonanza in the mine with levels that were determined at almost 1100 grams per tonne,” says Lash.

An underground drilling programme in 2005 delineated a JORC resource of 205,000 ounces of gold at a grade of 6.9 grams per tonne and 800,000 ounces of silver at a grade of 27 grams per tonne. Lash says with more extensive and deeper drilling (to around 400 metres) and exploration, the resource should more than double to 500,000 ounces of gold.

“The resource is definitely there, it’s just a case of investing money into a drilling programme to delineate it. We also we believe the ore bodies extend under the Ohinimuri River and across the gorge about 3.7 kilometres north and northeast.”

The main access level (L8) was partially refurbished by Heritage in 2003 and subsequently opened up for underground drilling in 2005.

For deeper drilling, level 8 needs to be widened in part to get the sampling equipment and allow bulk ore sampling, says Lash.

“Once that’s done – the next phase is to look at the feasibility of applying a mining permit across the resource and attracting investment to open up the mine.”

By then, Heritage Gold would have invested close of $2 million in exploring it Waihi tenements and there’s no guarantee the resource will reach mining permit levels, yet Lash’s prospecting optimism is unwavering.

“Very few exploration companies have this level of asset… you have to admit that everything is in alignment for Heritage to make some significant moves over the next 12 months.”

Thanks again BAP - great reading on a gold day like today ; )

“The resource is definitely there, it’s just a case of investing money into a drilling programme to delineate it. We also we believe the ore bodies extend under the Ohinimuri River and across the gorge about 3.7 kilometres north and northeast.”

As indicated in a previous post today this continues through into HGD's Rahu and Northern permit areas at Waihi.

If you get the opportunity visit the area. The potential of HGD's permits quickly becomes evident, especially the Talisman.

Cheers
BP:)

[BAPP]

Hi Jess9,

I understand that the Talisman 'Scoping study' should be nearing completion, it is almost 3 months since it was commenced. ( this could be 'behind' of the rumours.. maybe Croesus is onto something and could comment!)

I remember the following report which was released back in 2004.
---------------------------------------------------------------------------------
Tennent, Isokangas Pty Ltd (“TIP”), consulting mining engineers, has reported to Heritage on a conceptual mining study at the Talisman mine at Karangahake near Waihi, New Zealand.

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

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

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

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

One would suspect the 'prospects' should have improved significantly based on the current gold price being US$900/oz compared to US$380/oz when the report was released and that HGD has confirmed higher resource levels since then also.

I'm sure the costs will have 'risen', but IMO with the long term price of gold looking 'bullish' the economic outcome could be very favourable for shareholders.

Cheers
BP:)

[ScrappyO]

Cheers Bap/Jess9,
Some interesting reading you guys have posted. Thanks

[Jess9]

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

One would suspect the 'prospects' should have improved significantly based on the current gold price being US$900/oz compared to US$380/oz when the report was released and that HGD has confirmed higher resource levels since then also.

I'm sure the costs will have 'risen', but IMO with the long term price of gold looking 'bullish' the economic outcome could be very favourable for shareholders.

Cheers
BP:)

Hi BAP, I have had that in mind for some time it would be interesting to compare conclusions. A positive report could make 08 option holders smile, as well as any high grade ore strike; either or both are fine by me : )

I know HGD's day is coming, it all depends just how soon. I' banking on the money raised to date being enough to find some commercial/bonanza grades to get the coy on its way.
As well as good solid planning, a little bit of Waihi magic would also assist hitting a nice strong feeder zone...now I'm just waiting for a trading halt and then the word "bonanza" in the headline which follows!! (nice to dream : )))

[Jess9]

Cheers Bap/Jess9,
Some interesting reading you guys have posted. Thanks

No worries ScrappyO. Everything is almost in place now for HGD, it just needs its exisitng money to "light the match"... arrggh speccies - roller coasters; let the next stage be the rocket!! : )

[Jess9]

PS while I think HGD is an exciting and likely a very lucrative punt, remember it is a speccie. NZO, PRC or something similiar is more reliable (but alot less exciting now days).

[BAPP]

PS while I think HGD is an exciting and likely a very lucrative punt, remember it is a speccie. NZO, PRC or something similiar is more reliable (but alot less exciting now days).

Hi Jess9

My understanding is that a 'Scoping study' is that it is the first stage of reporting to move a resource down the path to an economic mine.

This could include establishing the resource levels that are required to move the project forward for economic viability and may include information such as operational, processing, return on investment information.

If 'favourable' findings are gathered this would then be followed by an ‘in-depth’ ‘Feasibility & Financing’ study where a company decides to proceed to a model plan for mining, processing, treating and selling the product/resource.

Once clear and positive details are established this is the information the company would use to seek further funding to proceed the venture.

Keep in mind that it is not only the cost ‘digging up’ and ‘crushing’ of ore to be considered but the treatment process to isolate the gold and silver for saleability. Then there is also all the environmental and social costs to be accounted for.

There are huge costs associated with 'starting' and operating a mine and this of course is a key reason any mining company needs to ensure a long term life span or it's mine(s).

In HGD's case we 'seemingly' have two clear options, a 'stand alone' operation or a JV with Newmont.

I would suspect if the 'Scoping study' details recommend that HGD should proceed to the next stage of a 'stand alone' mining venture, it would suddenly bring the bigger player(s) onto the scene.

Cheers
BP:)

[Jess9]

Good post BAP. While their feels like a delay in action/announcements from all the above it is easier to understand why, and also to be assured that this time, Trent and team have a good plan and are executing it - we just need a little more patience. Real work/results takes time (as well as money). As u say above through, time wise, looking on what was started when etc, some news should be almost ready for release.

[underground]

90c to 120c/share AUS would suit me fine : )

yeh wouldn't it be nice if the world was cadbury..! 21c would make this my first ever 10 bagger, anything above that i cant even comprehend.

seems like it will be a struggle to get the share to half that..

205,000 oz x 900USD/oz = $184,500,000 (value of JORC gold resource alone)

even if they sell this project off to Newmont for 35% thats still $64.57m or almost 6 times the current market cap. add in the 800,000oz of silver and the potential - this company should be trading much higher than what it is at present. 6 fold increase for signing on the dotted line?

this is based on ESTABLISHED resource alone, in line with what trent said, proving it up a bit and selling it off should increase the shareprice 10 fold. and then add in the Co and U308 potential that can now be developed with the HGD funding and you have a company going places.

this company should currently be trading around 25c based on what it has
with the potential to be re-rated up to $1.00+ based on what it could have

great arbitrage opportunity - many people just dont realise it. the only issue is timing. and i hope this is where trent can make a difference

im sure a lot of people have been buying small parcels of around $2,000 to keep aside in the drawer knowing that in a few years that could equate to $20,000 there is practically no risk in this stock at current prices. - especially since the price of gold is increasing over time it almost acts as a hedge against any loss in the shareprice.

if you have patience then there is not much downside to this stock.

because it is a speccie its not prudent to put all your eggs in one basket. but one in the dozen over the long term could do wonders.

[Jess9]

Good round-up underground.

[Jess9]

I think when it does turn it could go quick. Alot of buyers want price increase as proof of start/ongoing re-rate, then pile on in. As holders begin to see where this might go sellers could pull back rather quickly. It will be fun to watch when the gun fires!!

[croesus]

Will have my finger on the buy button tomorrow.....be very interesting after what happened to the US indices at the end of last week.. how the NZ Sharemarket will react.

Picking HGD/HTM may reach new lows, NZO may see $1.49 .. which will render NZOOD worthless.......... Contact and F/P will get knocked around.. etc..

can't argue with your logic underground.....would'nt take much to see 25c/50c... a drill result, followed by a J/V announcement..... patience is the key....

cheers Croesus

[underground]

i see the potential. I hope that this resource doesnt remain "underground" for much longer (pun intended :))

i believe as in the previous presentations most of the value is added in the exploration and resoource establishment stage.. id much rather HGD sold out of its interests at a large premium and let Newmont do what they are good at rather than attempt to mine themselves. this would mean shareholders wouldnt have to wait and HGD is freed up to focus on its other projects..

what do you guys think?

[BAPP]

i see the potential. I hope that this resource doesnt remain "underground" for much longer (pun intended :))

i believe as in the previous presentations most of the value is added in the exploration and resoource establishment stage.. id much rather HGD sold out of its interests at a large premium and let Newmont do what they are good at rather than attempt to mine themselves. this would mean shareholders wouldnt have to wait and HGD is freed up to focus on its other projects..

what do you guys think?

Hi underground,

I don't think it will be quite as simple as being able to 'sell out' at a large premium. Newmont (or any other interested party) would be out to 'pick up'
HGD permits as cheaply as possible. That's why a 'deal' hasn't been instigated to date. (HGD's management believe their permit area is worth a lot more to it's shareholders than Newmont is willing to pay... at the moment)

Trent will have to prove that HGD has the capabilities and resource levels that can economically justify a mining operation.
-------------------------------------------------------------------------------------
"When you are prospecting around the interests of the world’s second largest gold miner, it is understandable that relationships between Newmont Waihi and Heritage are very close.

“Newmont is taking an interest in what we are doing, and sitting back waiting for us to find something,” says Lash.
--------------------------------------------------------------------------------------
Trent will have to do the 'donkey' work first ... and if he is successful we will then see the 'bigger' players showing interest. However because at that stage Trent will have more options available to him the 'asking' price may warrant a premium.

The results of the 'scoping study' will be critical to the outcome for Talisman IMO. I'm very confident about the 'steps' that are currently being taken.

Cheers
BP:)

[Woody51]

Thanks for the interesting reading BAP - good to remember why one is in the stock. I liked Alan Titchall's article. I used to know a bloke by that name at Otago Uni many years ago - think he went to Syd to drive taxi's or something for a while and I lost contact. Good guy, maybe it's him haaa.

[BAPP]

Thanks for the interesting reading BAP - good to remember why one is in the stock. I liked Alan Titchall's article. I used to know a bloke by that name at Otago Uni many years ago - think he went to Syd to drive taxi's or something for a while and I lost contact. Good guy, maybe it's him haaa.

Hi Woody51,

They reckon the best 'tips' always come from taxi drivers. (if you can find one that speak your language!);)

Yes, some of that info helped me reaffirm why I had initially invested in HGD ... I just need to stay patient and keep 'in touch' with what is happening at the 'coal face'!;)

Cheers
BP:)

[Jess9]

Hi Woody51,

They reckon the best 'tips' always come from taxi drivers. (if you can find one that speak your language!);)

BP:)


Hi BAP, tea ladies are also a good source ; )

[BAPP]

Has anyone heard what the outcome has been to the investigation by Newmont to lay back the walls on the east and/or west side of the Martha pit?
http://www.marthamine.co.nz/

Apparently there was some 'updated' news in the last week and it 'appears' they have decided not to proceed... to the west at least!

If anyone could elaborate on this it would be appreciated.

Cheers
BP:)

[ScrappyO]

This is the info on the proposal.

http://www.marthamine.co.nz/PDF/Info_pack_Feb_08.pdf

Even reading this HGD are in an excellent position....I bet Newmont would love to have HGD's Permit.

They have less issues if they want to go north of the pit.

Lets hope something evolves soon. :)

[BAPP]

This is the info on the proposal.

http://www.marthamine.co.nz/PDF/Info_pack_Feb_08.pdf

Even reading this HGD are in an excellent position....I bet Newmont would love to have HGD's Permit.

They have less issues if they want to go north of the pit.

Lets hope something evolves soon. :)

Hi ScrappyO,

Apparently there is an update which was just released locally in the past week.

Heritage is about to commence drilling at Waihi North which is the permit area that borders the north wall of the Martha pit. Other than heading towards the east Newmont's options are rather restricted in Waihi.

Cheers
BP:)

[ScrappyO]

Hi ScrappyO,

Apparently there is an update which was just released locally in the past week.

Heritage is about to commence drilling at Waihi North which is the permit area that borders the north wall of the Martha pit. Other than heading towards the east Newmont's options are rather restricted in Waihi.

Cheers
BP:)

BAP,
It looks very good for HGD if the results come in. Looking at the map the east wall works well with HGD's north permit.

Have had a good search for the update on the west but no luck so far.

ScrappyO

[ScrappyO]

Hi ScrappyO,

Apparently there is an update which was just released locally in the past week.

Heritage is about to commence drilling at Waihi North which is the permit area that borders the north wall of the Martha pit. Other than heading towards the east Newmont's options are rather restricted in Waihi.

Cheers
BP:)

The update was in the waikato times on 4 june.

Snippet of it was...
" west side not economically viable....."

[Woody51]

Has anyone heard what the outcome has been to the investigation by Newmont to lay back the walls on the east and/or west side of the Martha pit?
http://www.marthamine.co.nz/

Apparently there was some 'updated' news in the last week and it 'appears' they have decided not to proceed... to the west at least!

If anyone could elaborate on this it would be appreciated.

Cheers
BP:)

U been speaking to the taxi driver BAP, or the Tea Lady?

[Woody51]

It's very clear really, all we need is some great drill results and it's GAME ON.

Hey, any chance Newmont will pull up stumps and we get their plant etc in a fire sale? Naa, too many reds ...

[Jess9]

a reverse takeover...chuckle chuckle, now that would surprise the market - even from Heritage ; )

[Jess9]

Hi BAP. Did you say drilling at Waihi North started last week? Maybe the aeromag work has targeted the next "Martha" - with alot of luck ; )

[BAPP]

Hi BAP. Did you say drilling at Waihi North started last week? Maybe the aeromag work has targeted the next "Martha" - with alot of luck ; )

Hi Jess9,

Fairly sure that drilling at Waihi North was scheduled to start in June (so sometime soon) and drilling at Rahu is already underway.

It would be interesting to find out the results from the airborne surveys over Waihi North, especially if Newmont decision is to close down the 'pit'.

Will look forward to seeing some results.

Cheers
BP:)

[BAPP]

It's very clear really, all we need is some great drill results and it's GAME ON.

Hey, any chance Newmont will pull up stumps and we get their plant etc in a fire sale? Naa, too many reds ...

Hi Woody51,

What good is a big hole in the ground when it is not producing and requires huge capital outlay due to restoration obligations.

If Newmont can not find any significant resources in their eastern permits they are really left with two options IMO... close Martha .... talk to HGD.

Apparently they have been drilling extensively... however without much success to date!

If it was me and I had huge amounts of capital 'tied up', I would at least start 'friendly' discussions with my neighbour.;)

Cheers
BP:)

[Woody51]

Yeah, not interested in the hole. Where do they process the stuff BAP?

[BAPP]

Yeah, not interested in the hole. Where do they process the stuff BAP?

Hi Woody51,

The processing plant and water treatment areas are in Waihi, approximately
1-2 km away from Martha.

Interesting times ahead IMO.

Cheers
BP:)

[Jess9]

still well within viable distance from Talisman then. Also, lots of trained workers looking for more mining work.

[chippy52]

Do they still operate the conveyour belt system. Whats to stop them from extending to another location:D:D.

[Jess9]

No trades on ASX today. It will be a very positive signal when we see a good lift there, on volume...say over 4c and on a few mil through.

[Jess9]

Bugger. Still weakness from accross the ditch.

[croesus]

Over 1 million sold ( HGD and HTM).....

[Woody51]

Notice the latest top 20 has been posted on the HGD site and there's a very interesting newcomer - Merrill Lynch (Australia) Nominees Pty Limited - with 14,663,920 shares, or 5.1 per cent of the company. That makes Merrill the second largest holder!

Wow! Where did they come from? And it's not obvious to me who they purchased this amount of stock from. This is a huge vote of confidence in Heritage, I would have thought.

[Woody51]

I've been doing a lot of thinking about Newmont's position at Waihi. And it seems to me, Heritage now holds all the cards - and this must be screamingly obvious to Newmont.

Look at the facts, unless they pull off a miracle, Newmont will be out of resource within 18 months. The financial cost to Newmont of closing up shop would be huge. And the cost to the community would be even greater. By all accounts, Newmont has been a a terrific corporate citizen. Why would they close down this operation, tossing hundreds out of work, when little old Heritage is sitting LITERALLY a cricket ball throw away, with an already substantial JORC resource? It just makes no sense!

This is another reason why Heritage's current surveying and drilling is so important. With its new 'can do' management, and the backing of cashed Australian institutional holders, Newmont can no longer sit back and wait for for Heritage to fall over and relinquish its leases. I'm sure that this has been Newmont's 'strategy'.

This is not just about Heritage and Newmont, it's also about the community and its future. If I was the Mayor of Waihi I'd be quietly knocking on a few doors. It really is game on. Watch this space!

[Woody51]

And just one final thought before I go back to bed. Any chance the emergence of Merill Lynch as a substantial holder in Heritage has anything to do with Newmont? Now wouldn't that be delicious?

[Jess9]

Why no substantial s/notice from Merill Lynch? If this is not a timing thing, then I guess it could be they hold on behalf of several investors (like other broker nominee companies) who in their own right do not yet hold greater than 5. Be interesting to watch that list however.

[Jess9]

Interesting thoughts Woody.

[Jess9]

Still some sellers sitting in depth on the ASX, may see a little more weakness there yet? Watching with interest.

[Jess9]

Just a thought, probably wrong but wonder if the ML holding is the source of weakness from AUS - representing some holders of the last cap raising who wanted a quicker turn around in profit and have been moving on and selling down. Like I've said, watching with interest over the next few weeks.

[underground]

tax loss selling me thinks and a shift in focus to the CSG sector which is real hot in aussie right now, people dont think this stock is gonna move fast so in the interim the opportunity cost is high with other stocks that have proven resources going up by 30&#37; + and mergers/takeover action

[BAPP]

Extract from the Australian- Do golden days lie ahead?

Cheers
BP:)

'HAS gold peaked?' was the title of a report out from ANZ on Thursday. Friday provided the answer: apparently not.

The yellow metal, on the back of oil's surge and the falling greenback, rose $US23.50 to $US899 an ounce.

ANZ's senior commodity strategist Mark Pervan believes we are at the top of the gold cycle, prices having fallen 12.5 per cent in the past three months (but after a 50 per cent surge in the preceding 12 months). Markets are gaining confidence as the sub-prime mess recedes, he argues, and both jewellery and investment demand are down. Pervan is picking a gold price of $US840/oz by September.

Hold your horses, might be the message from BGF Equities' Warwick Grigor. He can see the metal going beyond $US2000/oz over the next two years. And here's Grigor's reasoning: gold rose 608 per cent in three years to its 1980 peak, but $US2200 is only 140 per cent above recent peaks.

He argues that gold has underperformed other commodities in this cycle. Gold will have its day. The key is to get set now with the right stocks, but ones that are already standing up to scrutiny on the fundamentals.

"A higher gold price will simply act as a turbo-charge on the investment," Grigor says.

Link: http://www.theaustralian.news.com.au/story/0,25197,23831232-18261,00.html

[Woody51]

BAP, Grigor has also made the point that there will be value-add down the food chain to exploration stocks etc. Think he's predicting a re-rating some time, so prices for explorers better reflect those in the US/Canada.

He reckons to 'get set now' while you can. Of course. 'getting set', in his language isn't quite like 'getting set' in mine haaa.

The gold stock he really likes is explorer Perseus Gold (PRU), 'accumulate, accumulate, accumulate ... ' He is going to look at the explorers in part B of his gold review. Let's hope Heritage has kicked some more goals by then, and gets a big rap.

P.S I own a few Perseus, previously declared on ST.

[BAPP]

BAP, Grigor has also made the point that there will be value-add down the food chain to exploration stocks etc. Think he's predicting a re-rating some time, so prices for explorers better reflect those in the US/Canada.

He reckons to 'get set now' while you can. Of course. 'getting set', in his language isn't quite like 'getting set' in mine haaa.

The gold stock he really likes is explorer Perseus Gold (PRU), 'accumulate, accumulate, accumulate ... ' He is going to look at the explorers in part B of his gold review. Let's hope Heritage has kicked some more goals by then, and gets a big rap.

P.S I own a few Perseus, previously declared on ST.

Hi Woody51

I notice from the article that WG is about the do an assessment of the 'emerging producers' also. It would be good to see HGD on the list.

Cheers
BP:)

[ScrappyO]

Update on shareholders
http://www.heritagegold.co.nz/irShareholding.html

[ScrappyO]

The update was in the waikato times on 4 june.

Snippet of it was...
" west side not economically viable....."

http://www.stuff.co.nz/waikatotimes/4571318a6579.html

[BAPP]

http://www.stuff.co.nz/waikatotimes/4571318a6579.html

Hi ScrappyO,

Thanks for the link. All good news for HGD in the 'long run' .. one would hope!

Cheers
BP:)

[whatsup]

Whatsup in Aussie today?????????????

[etrader]

Yes nice lift, small volume but unusual to see a 25% gain over there.

We get the feeling things are heating up throughout the year with Waihi starting to be a noticed asset due to newmonts scaling back, still awaiting j.v ?

and note the Merrill % has not had a ssh come up yet so either holding for two firms or just getting themselves a position pre next shift north.

[ScrappyO]

Update from newmont dated june 3rd.Nothing we already didnt know.
Its about the eastern layback.

http://www.marthamine.co.nz/03_06_08.htm

[etrader]

Interesting view on the below


Gold May Rise to $5,000 on Inflation, Schroder Says (Update1)

By Bei Hu

June 19 (Bloomberg) -- Gold prices may rise to $5,000 an ounce as investors seek to protect themselves against accelerating inflation, said Schroder Investment Management Ltd., which oversees $277 billion of assets globally.

``You could easily see for the next several years that prices rise not to $1,000 an ounce, but prices rise to $5,000 an ounce or beyond as inflation psychology becomes more and more embedded and people become desperate to have a source of value,'' said Christopher Wyke, London-based emerging market debt and commodities product manager at Schroder, which oversees about $10 billion of commodity assets.

Investors are turning to gold for protection as two-thirds of the world's population cope with inflation rates that are climbing to more than 10 percent, Wyke said. Cash and inflation- linked bonds are poor substitutes as low interest rates, coupled with surging inflation, erode the real value of assets, he said.

Bullion for immediate delivery was down 0.2 percent at $892.48 an ounce at 9:57 a.m. in Singapore, after gaining 3 percent in the past four days. Wyke didn't give a time frame for his gold prediction.

Demand for gold will also rise as central banks become net buyers for the first time in 20 years, driven by developing countries, he added. Last year, world production of gold sank to the lowest since 1937 as reserves are depleted and few new sources of gold have been found.

[BAPP]

From the Herald today.

Pot of gold at end of Heritage rainbow?

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10517741

Cheers
BP:)

[doon]

From the Herald today.

Pot of gold at end of Heritage rainbow?

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10517741

Cheers
BP:)

Thanks for the link BAP. Good to see the media machine is up and working. Now just need some investor interest, not easy in this climate. I increased my holding last week (ASX), hopefully my timing proves fortunate? Still a wee way behind your stake tho!

[whatsup]

IMHO, Was more of a general interest story than a beat up , not a ramping story at all , thank god as this company now has to be built on facts not hype.

[BAPP]

Thanks for the link BAP. Good to see the media machine is up and working. Now just need some investor interest, not easy in this climate. I increased my holding last week (ASX), hopefully my timing proves fortunate? Still a wee way behind your stake tho!

Hi Doon,

Yep.. I've also been adding to my shareholding with the recent weakness in share price....why not if you believe the story!

Good to see Trent is 'fronting up' on all counts, acknowledging the company needs to work for shareholders who have supported the company for a duration.

As whatsup has pointed out in his post, the article gives an analysis of where Heritage is positioned without any misleading 'ramping'.

Now Trent must establish the resource levels indicated ... and soon!.. so the September 'option holders' can at least have reason to consider 'putting up' $2.3 million in additional cash for further development of these projects.

Cheers
BP:)

[Woody51]

Great to see that article. News flow is so important - and the take out is, ' this is a crowd that have a plan and know what they are doing'. Big change on a year or so ago eh?

All we need now is for them to produce the goodies ... ''

[etrader]

Slightly off subject but aren't we glad hgd is not a finance company and can sit on $3.8 mill with most of their assets in the ground Whew

[Oiler]

Slightly off subject but aren't we glad hgd is not a finance company and can sit on $3.8 mill with most of their assets in the ground Whew

LOL.. etrader lets not keep the assets in the ground for too much longer :D but in the meantime I am happy to continue to accumulate........ got a few more today

Oiler

[Jess9]

Price keeping nicely above recent lows on decent volume today. Bit more of this and we may get a quick lift back to where HTM was, pre cap raising.

Whatsup - agree, nice to a realistic piece covering all angles (which is some evidence of the likely (high) calibre of new management). Its one thing to have world class permits but to bring out the value, that certainly requires the right skill mix. Trent has plenty underway... it would seem all aimed at getting holders a great return, with just a little luck. Still waiting for that wild west "B" word in a next drill announcement : )

Wonder if the coy should put in a a cheeky offer in for that entire subdivision ; ) With the property market in decline and Newmont just chomping at the bit to expand its pit...

[Jess9]

Just flicking through the last quarterly, noticed that the scoping study was to be competed mid june. I guess this will be out shortly then - looking forward to the detail.

[underground]

rise in ASX volume has been due to another entry into the top 20 by investment bankers "merrill lynch" which has sparked interest amongst shareholders..

they could be holding themselves or on behalf of another company such as newmont. (pure speculation of course)

they have the second largest shareholding in HGD now at 5.1%
that would have been on on market transaction of around about $400 grand..?? so thats what you have probably been picking up jess.

[Jess9]

Certainly a bit of volume going through at current levels, be interesting to see how it has changed the top twenty. I wonder if ML are a net buyer or seller (not withstanding they may hold for one or many AUS investers).

Also into the mix, very shortly to come is some result announcements from stuff underway, of which some as been in progress for several months now. I'm looking forward to a good read to get a firm steer on where and how quick Trent is moving HGD to recognise the potential we all understand it has sat on o so well : )

[ScrappyO]

This Part of the report seemed to me to be the most interesting.


JOINT VENTURE DISCUSSIONS
In April 2008, the company began joint venture discussions with
a number of interested, global parties with respect to a farm-in
arrangement on the Talisman Mine. These discussions have extended
to some of its other gold tenements. Although at a preliminary stage,
discussions are ongoing with a number of companies comprised of
regional mid-tier and global producers.

[ScrappyO]

The rest of the annual report

http://www.heritagegold.co.nz/reportArchive/Heritage%20Gold%20AR%2008.pdf

[Jess9]

Great report!! HGD is heading up going forward, based on this. The chair's report etc feels quite different from past. Very happy to sit a wait some more for this to unfold and be reflected in $$$ : )

[croesus]

Will purchase more..........looking forward to BAPs thoughts.....

[BAPP]

All good IMO and especially good to see the accompanying letter to shareholders from Geoff Hill and an extensive overview of all projects by Trent within the Directors Report .

It highlights the work that is in planning stages, being undertaken as well as the objectives for each of the projects and provides me with confidence that the funds raised last year are being put to 'good' use.

It was also good to see some 'upfront' comments regarding JV's and the outlook for the company and I was also impressed with the company supporting research projects at Auckland University. (forward thinking IMO)

As Jess9 has already commented there is a 'different feel' about the way management has informed the company's shareholders.

However! ... at the end of the day it will be the results from the current drilling programmes that will provide the 'real evidence' about where HGD is heading ... so I look forward to some positive drill results being announced in the next few months.

Cheers
BP:)

[BAPP]

REL: 1429 HRS Heritage Gold NZ Limited

MINE: HGD: Geophysical Survey Reveals Gold Targets

27 June 2008

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

PAGES: 3

FOR PUBLIC RELEASE

Geophysical Survey Reveals Gold Targets Adjacent to Martha Mine, Waihi

Heritage announces preliminary results from its recently completed
geophysical and geochemical surveys at Waihi North.

The results of the air and ground-based exploration programmes are
encouraging and the company believes that it has targets in Waihi North and
Golden Valley that could potentially represent gold-bearing structures.

Aeromagnetic Survey
In particular, the high-resolution aeromagnetic/radiometric survey of the
Waihi North, Waitete and Golden Valley tenements has revealed several
significant broad demagnetised zones which are often associated with areas ofhydrothermal alteration and gold mineral deposition in this district.

One such area in
Golden Valley rivals the size of the footprint of the
adjacent Martha and Favona gold deposits.

At Waihi North, the demagnetised zone and structural lineaments observed inthe Martha deposit are seen to continue north, suggesting the possibility of
links to and analogues of the Martha vein system in the Waihi North permit.

CSAMT Survey
The ground-based electrical resistivity survey (CSAMT) at Waihi North has
delineated a number of resistive zones (potential quartz veins) which
correlate well with the demagnetised zones seen in the aerial magnetic data
and with anomalous gold values from recent soil sampling.

Drilling
Drilling of the geophysical and geochemical anomalies at Waihi North has
commenced.

To date Heritage has invested $1.8 million in exploration on Waihi North and
is currently spending $200,000 on drilling targets identified from these
surveys.

Based on exploration results so far, Heritage plans to lodge an application
for an appraisal extension on their Waihi North p
ermit later this month.

TECHNICAL OVERVIEW

Aeromagnetic Survey
The high-resolution aeromagnetic/radiometric survey was flown at a nominal
height of 60m. Survey line spacing was 100m oriented east-west with tie lines
flown north-south at 1km intervals.

Extensions of the main anomaly at the Martha mine are evident beneath post
mineral cover extending north into the Waihi North permit. This anomaly and
associated low magnetic gradient zones have a generally north-northeast
strike.

Immediately east of Favona, an approximately 18 square km demagnetised
anomaly has been found.

Geochemical Survey
Soil sampling on a 50m x 100m grid north of the Martha pit has delineated a
broad, low level gold geochemical anomaly covering approximately 1000m x
400m, with values generally above 50ppb, peaking at 1.68 ppm near the centre
of the grid.

Ground Geophysical Surveys
A CSAMT resistivity geophysical survey was conducted over a 4 km x 1 km
surveyed grid adjacent to the Martha open pit using a dipo
le spacing of 20m.

Significant contiguous CSAMT anomalies were noted. These are interpreted as
zones of intense alteration surrounding silicification and quartz veining.

The results of CSAMT and detailed ground magnetic surveying have highlighted a series of north easterly structural trends that correlate with the low level gold-in-soil geochemistry. These are interpreted as representing
potentially mineralised structures and are currently being drill tested.

[Jess9]

I'd be happy with a fresh 18 sq KM Martha!! Even 1/2 - as I'm not greedy ; )

[etrader]

Still nothing new on the ML holding ie no SSh so my view is it's held in trust for two firms ? as over 5% they need to disclose.

Nice clear report today, note that Trents style is coming thought, getting over the past issues and showing a way forward.

All the best to those who hold

[Jess9]

you're not leaving the faithful are you etrader?

Shame DB is down, wouldn't mind looking to see if there are any 30/6 bargains on the ASX -especially with the Dow where it is today etc. Anyway off for steaks and chips. Have a great weekend!

[Woody51]

What is your instinctual feeling re the Merrill Lynch holding?

I'm now much more confident Heritage is on the 'go'. Don't forget plan B, if you get my drift. Cheers.

[Jess9]

PAGE 5 IS AN ABSOLUTE CRACKER!

BEST TO READ IT ALL FOR CONTEXT (LINK HAS BEEN POSTED SOMEWHERE ABOVE) - BUT SOME BITS THAT ARE REALLY EXCITING (TO ME AT LEAST):

Waihi North permit (hard against Newmont’s Martha Mine):

FROM RECENT GROUND AND FLY OVER WORK:

“the areas of demagnetisation and structural lineaments seen in the aeromagnetic data show a continuation into Heritage’s land of the regional structures which control the veining in the Martha/Favona ore bodies. It suggests that there may be analogues of the Martha vein system in Waihi North.” Page 5

On Golden Valley permit:

THE RECENT GROUND AND FLY OVER WORK ALSO IDENTIFIED A NEW:

“anomaly delineated in southern Golden Valley has an extent that is as large as the hydrothermal alteration zone that surrounds the Martha and adjacent Favona deposits.” Page 5

“…the company believes that it has significant anomalies in Waihi North and Golden Valley that could represent new, potential gold-bearing structures.”

ALSO ON THE NEW ANOMOLIES, FROM THE ACTUAL GEO ANNOUNCEMENT RELEASED YESTERDAY:

“One such area in Golden Valley rivals the size of the footprint of the adjacent Martha and Favona gold deposits.”


Talisman Mine Project

THE CHAIR’S LETTER (PARA 6) INDICATES LIMITED ORE EXTRACTION FROM TALISMAN IS A PRIORITY – GREAT!! THIS OBVIOUSLY COULD FUND FURTHER WORKS!! INDEPENDENCE FROM THE MARKETS RE PLACEMENTS AND DILUTION

AT OVER $1000 NZD/OZ WE WON’T NEED TO PROCESS TOO MUCH TO MAKE SOME SIGNIFICANT CASH IN TERMS OF MEETING “DEVELOPMENT” NEEDS!!

FROM THE ANNUAL REPORT:

“A phased development, commencing with limited extraction of bulk
metallurgical samples and leading to full commercialization over a
two year timeframe has been scoped. Extraction equipment has been chosen for the first phase of the project and treatment equipment is being evaluated.”

“An underground resource drilling programme has been designed to
drill test the Maria and Crown veins at depth and define the lateral
extent of the Mystery vein. The drilling of the Maria vein will focus on
the bonanza-grade Dubbo Shoot and the Woodstock Shoot.”

“The Company has engaged a drilling contractor for this resource
drilling. A drill rig to fit the narrow underground openings will be
purpose-built for the programme”.

BHCL (33% held by HGD)

“Cobalt prices continued to rise through the year and reached US$52/lb in April.” Page 6

AND PER THE ACCOUNTING POLICIES:

“Unlisted shares are held for the long term at cost because fair value cannot be reliably measured.” Page 13

I.E. BHCL (UNLISTED)…SOME SIGNIFICANT VALUE NOT YET REFLECTED IN THE BALANCE SHEET – UNTIL LISTING AT LEAST. THEN I SUSPECT A VERY PLEASANT SURPRISE!


Joint Venture discussions:

“In April 2008, the company began joint venture discussions with
a number of interested, global parties with respect to a farm-in
arrangement on the Talisman Mine.”

OK, NOTHING REALLY NEW, HOWEVER…

“These discussions have extended to some of its other gold tenements. Although at a preliminary stage, discussions are ongoing with a number of companies comprised of regional mid-tier and global producers.”

SOUNDS LIKE THOSE NEW WAIHI NORTH and GOLDEN VALUE ANOMALIES HAS PIQUED INTEREST ; )



FINALLY, BEGINNING A NEW CHAPTER…

Uranium: “reconnaissance drilling of the Beetaloo uranium licence in July” (2008).


ALL UP, WELL DONE TRENT AND TEAM!!!

[Jess9]

Will purchase more..........looking forward to BAPs thoughts.....


Be interested to also hear BAP thoughts, and others.

[Jess9]

Above $900 again too now.

[croesus]

Re Pg 5 ... Totally agree with Jess...........lots of nuggets of info... obviously more happening then Trent can disclose at this stage...........shame he was'nt on board 3 years ago. !

[Jess9]

Warrant that have been nice, my "truck" owning friend ; )

[Woody51]

Just wish every time they mention Martha they would say: "Newmont's Martha, one of the world's most profitable gold mines". Still don't think a lot of punters understand this and that we are prospecting literally metres away.

[etrader]

Yes the ML is a hard one to grip, there has not been a SSH as they're over 5%, then again my instinct is it's held for two firms, probably been another mine company, this will be used as leverage to negociate some form of farm in agreement, now we are stacking the evidence to the public of what is there, going forward it's going to take a 3rd party to farm in with massive cash to get this out of the ground, Newmont have already stated that they can't process the ore, I feel this is been used as a bargaining tool to form a j.v where it's in their favour, however Trent has said they're looking at alternatives to process ie shipping offshore or building their own plant of a smaller scale. Newmont is looking to purchase into other mines as evidence overseas as it will effect their profit with mines coming to the end of there shelf life which is where hgd has to leverage off their holding to get the best return for shareholders, I would be happy to have my holding diluted if a 3rd party came in with $30 million to take a %.

BHCL will come at some stage but a good decision to hold off the listing till the markets are right for new IPO.

I have a feeling as others do that at the current levels sub 4c we will be very happy towards the end of this year.

[Jess9]

Does any one have access to current (i.e. today) top 10 or 20 holdings? If so and happy to do so, pls post. It would be very interesting to see who is changing and in what direction.

[STRAT]

Hi everyone.
Its been a while since I checked in here. I would like to, if I may ask a few questions about options.

Its a bit odd ( and please corect me if I am wrong ) that there are two options available. On the NZX and ASX but both different and not on both exchanges.

HGDOA - Heritage Gold NZ Limited 30/09/08 $0.10 Options (https://www.directbroking.co.nz/directtrade/dynamic/quote.aspx?QQSC=HGDOA&QQE=NZSE&view=basic)
HGDOB - Heritage Gold NZ Limited 20/11/09 AU$0.08 Options (https://www.directbroking.co.nz/directtrade/dynamic/quote.aspx?QQSC=HGDOB&QQE=NZSE&view=basic)

at the current exchange rate the AUS oppies seem a better buy at the same conversion price and with another year to run. Are any of you holding oppies on the NZX ( due to expire in Sept ) and if so are you optimistic about the outcome?

Jess, Some tantilizing stuff in your post regarding Fridays ann :D

[doon]

[QUOTE=STRAT;209480]Hi everyone.
Its been a while since I checked in here. I would like to, if I may ask a few questions about options.

Its a bit odd ( and please corect me if I am wrong ) that there are two options available. On the NZX and ASX but both different and not on both exchanges.

HGDOA - Heritage Gold NZ Limited 30/09/08 $0.10 Options (https://www.directbroking.co.nz/directtrade/dynamic/quote.aspx?QQSC=HGDOA&QQE=NZSE&view=basic)
HGDOB - Heritage Gold NZ Limited 20/11/09 AU$0.08 Options (https://www.directbroking.co.nz/directtrade/dynamic/quote.aspx?QQSC=HGDOB&QQE=NZSE&view=basic)

at the current exchange rate the AUS oppies seem a better buy at the same conversion price and with another year to run. Are any of you holding oppies on the NZX ( due to expire in Sept ) and if so are you optimistic about the outcome?


HGDOA=HTMO= opts exp sept08
HGDOB=HTMOA=opts exp nov09

[STRAT]

Thanks Doon. I thought it was a bit odd. When I searched Heritage options on Direct Broking I only got the two.

[etrader]

Does any one have access to current (i.e. today) top 10 or 20 holdings? If so and happy to do so, pls post. It would be very interesting to see who is changing and in what direction.

Jess if you phone the registry I think you can pay a fee ie $30 for latest updated list or email hgd direct and ask Sue if they can disclose this or keep the website up to date, I think it's important to keep an eye on top 10 to see if someone raids like ML sudden buy.