Heritage Gold...HGD

[etrader]

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

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

[johnofthex]

Woody I think the "bad vibs" you are talking about hinge from the expectation of the Chinese Bubble about to burst. But on the other hand it isn't sneaking up on us as it did back in Feb when there was a 9% correction and that must be a plus. The US is frantically trying to dampen down the issue before it starts and so are the Chinese now by the looks:
http://eng.zgjrw.com/News/2007521/En...180225400.html

[Woody51]

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

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

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

[BAPP]

Todays announcement:

Cheers
BP

HGD
29/05/2007
S/HOLDER

REL: 1625 HRS Heritage Gold NZ Limited

S/HOLDER: HGD: Letter to Warrant Holders

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

28 May 2007

Dear Warrant Holder

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Yours faithfu

[corran]

quote:Originally posted by BAP





REL: 1625 HRS Heritage Gold NZ Limited

S/HOLDER: HGD: Letter to Warrant Holders

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

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

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

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

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

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


Cheers,

Corran

[BAPP]

Hi Corran,

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

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

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

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

Hopefully patience will pay off!

Cheers
BP

[Jess9]

Good spotting BAP.

[BAPP]

HGD
30/05/2007
MINE

REL: 1550 HRS Heritage Gold NZ Limited

MINE: HGD: Heritage Gold Reports Further Drilling Results

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

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

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

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

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

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

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

For further information please contact:

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

[BAPP]

As I said:

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

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

Cheers
BP

[Woody51]

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