-
26-05-2007, 11:38 AM
#981
Junior Member
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
-
26-05-2007, 01:14 PM
#982
Member
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.
-
29-05-2007, 07:20 PM
#983
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
-
29-05-2007, 11:25 PM
#984
Member
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
-
30-05-2007, 07:38 AM
#985
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
-
30-05-2007, 01:45 PM
#986
-
30-05-2007, 04:06 PM
#987
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
-
30-05-2007, 07:32 PM
#988
-
30-05-2007, 07:58 PM
#989
Member
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.
-
30-05-2007, 09:31 PM
#990
To me this is good news, look at the range over which mineralisation occurs, and at this stage forget the low grade hole results.
This drill round's objective was to locate the most likely sites for hitting rich feeder veins (which have to be there based on the confirmed wide and deep ranging mineralisation - only guessed and inferred previously).
All lights are therefore go for the next drill round which will have a main objective of locating commercial quantities of gold to substantially increase gold resouce levels. If the preliminary results had been poor, this next stage would not have been announced.
Any hovering JV partner must be thinking very hard right now. The longer they wait the more they will likely pay as HGD gains further momentum - on more than one level, perhaps even snares others interest. Exciting times shortly ahead!
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks