Heritage Gold...HGD

[Jess9]

quote:Originally posted by croesus


Still a holder.

Thoughts. What they need to do is to get the bobcat out and mine some gold, seems to be a lot of flaffing around. Then the S/P will rocket, they are prescient enough to appreciate the HGDCA s, will not get exercised until the S/P ratchets up.

The Cobalt is a wild card. hopefully not a Joker.

Regards Croesus

Thanks Croesus, regarding the excerise date of the Warrants in 07, and considering the likely time slippage between planning and action/results (and this is not aimed at HGD specifically but is a general risk issue to whole mining sector at present). I have requested the board consider (if it is at all possible) the possibility of whether or not they can extend the warrants expiry date (due process accepted - this maybe ruled out up front legally, not sure) So while unlikely, I have asked anyway as I see the "the extension issue" as a valid question to at least discuss. Valid, as as management plans have now changed since the original deadline was set (several years ago etc) and an extension may well allow the coy to better time the call/use of this capital raising, better aligning to new plans etc. Extension would also allow for the FPO price to get to a healthy level above the warrant strike etc (being presently well below strike). From experience, FPO's head down towards strike price, as time limit approaches - so a significant "buffer" is needed to ensure full participation.

Kind regards,

J9

[Jess9]

Saw this yesterday on Kitco..

http://www.sundaytimes.news.com.au/c...55E951,00.html

nice if you have all the ground work laid and are almost ready to dig, just hope Heritage is still within this category, and not too near the back!

[Fodder]

FYI:

Reported on the NZ Herald website:

"Heritage to step up search for gold"

4.40am Friday June 2, 2006


Dual-listed junior gold explorer Heritage Gold is preparing to step up its North Island exploration programme.

Although it reported a $2.6 million loss for the year to March, managing director Peter Atkinson said it was a result of exploration programmes in the Waihi area.

Most of the work centred on the Talisman mine but test drilling was also carried out in some other areas.

He expects to be able to make an announcement to the market in the next few weeks.

Atkinson also heads up private company Prophecy Mining, which has gold permits adjacent to Oceana Gold's Macraes mine in east Otago, where exploration is continuing.

No hint of the shovels coming out yet

[Jess9]

Thanks for that Fodder, you're right, re shovels, but I think maybe that’s a good sign right now, as I would assume if production is likely/planned this year, then this (being absolutely huge) would need to be announced to the market in the proper way. Looking over the last eight quarterly’s, I think a prodn decision has to be immanent (i.e.within 6 months).

Don't get me wrong here, I guess this may come over as a ramp. Therefore I repeat to all, I absolutely accept the high risk with this one, but that said, I haven’t had gut feel as good as what Heritage has given me recently, since I bought NOGOC, back when it was 8.5c a few years back! That was a wild ride!!

Therefore, I've "backed the truck up" over the last two weeks, firmly putting 'money to mouth' etc (and hopefull not in mouth , as if (and as with NOGOC back then - this is a big if) all goes relatively well (and they run faster than NOG time ; ), this one is likely and easily to be in multi bagger territory!

[Krustytheclown]

Are the wild and wooley Green lobby attempting to scuttle the good works of Heritage's Coromandle ambitions?

Not a holder yet -but good on those hard working miners!

G.

[Jess9]

Hi Gregoroius!

The greenies already scuttled the coromandal permit a few years ago, I believe - HGD even sued, and even more surprisingly won a $220k settlement, paidout recently (albeit allot more $ had been expended into exploring). I think any new "Northern" work won't be drilling, rather thermal/computer analysis?

Re the above article, I think the drilling will mainly relate to the Waihi permits, in particular around Karangahake, and maybe the permit bordering Nemonts Martha mine (pit). A target I understand from Phase 4 was to expand both resource quantity and quality (from the current 205,000 oz of gold already announced last year) to (from memory) at least double this quantity - to reasonably support a new 20-year mine operation.


HGD are canny (I like their style to date), they have acquired allot of acreage around existing and historic world class mine sites - therefore discoveries can leverage of existing skills/labour and infrastructure!

Now I just need a few of my wild guesses to come true!

J9

[croesus]

Hi Jess 9, hopefully your expectations will be wellfounded, like you I am a glass half full optimistic cove....... can't see any downside in the S/P in the near future and a good chance of a healthy rise......may buy a few more nxt week.
Regards Croesus.

[Jess9]

Hi Croesus,

Good to hear from you.

moving away from the company actions/guesses (as noted above), of interest of late is the share price pull back. I wonder if the AUS sellers/s have now fully exited?? I guess I bought a few of those, some down to 4.1c AUS...time will tell just who was getting the bargain[:I] The funny thing is at this stage, that is both of us!

Depth on Friday is "gappy" (NZ 5.1 to 6.2? ASX looking about the same)unless there are floating seller’s entry on market needs to go over 6c...or if you can live with "option risk", the warrants may provide a good entry, but you probably have enough of these already?? Sellers a 2c (buyers at 1) 1.25m on offer, 500k to buy (last sale 2c). Exercise at 6.5c NZ (buyers choice to make call... therefore same as an option etc) by 27.6.07.


PS looking forward to a good read of the annual report/chair's report at end of this month - think its out around 27th?

[croesus]

I am the buyer at 1c.
cheers Croesus

[Krustytheclown]

I find it really sad for NZ that we got Billions of dollars tied up in the Coromandel in the likes of Silver, Gold and various other precious metals.
This would provide highly paid jobs for the locals and and tax money that should go to Hip ops (not Hips Hops you Labour lot!) and other worthy public spending.

Go Heritage!!!!!!!!!! I like its doggedness.....I might even buy some shares again in the Co someday.

G.