Heritage Gold...HGD

[ScrappyO]

So they are going to split HGD up. I wonder why. easier to sell the talisman maybe?

[Paint it Black]

So HGD is restructuring into two companies New Talisman Gold Mining Ltd and Coromandel Gold Ltd with an SPP about to be posted to existing shareholders offering shares at NZ1.9c and A1.6c to fund the Talisman company. Talisman has a new General Manager Mining - Paul Griffin and an additional board member with mining experience. The Talisman company will focus only on this mine and non core assets ie part ownership of BHPL, Northland etc will be transferred to the Coromandel company. Personally I see it as a great step forwards to at last get things moving. I'll be happy to buy my allocation of shares so that progress is made and we not waiting around for something to happen through a JV. I really hope shareholders are kept regularly updated - hey even an preliminary programme to the first ingot being produced would be something!

[elZorro]

So HGD is restructuring into two companies New Talisman Gold Mining Ltd and Coromandel Gold Ltd with an SPP about to be posted to existing shareholders offering shares at NZ1.9c and A1.6c to fund the Talisman company. Talisman has a new General Manager Mining - Paul Griffin and an additional board member with mining experience. The Talisman company will focus only on this mine and non core assets ie part ownership of BHPL, Northland etc will be transferred to the Coromandel company. Personally I see it as a great step forwards to at last get things moving. I'll be happy to buy my allocation of shares so that progress is made and we not waiting around for something to happen through a JV. I really hope shareholders are kept regularly updated - hey even an preliminary programme to the first ingot being produced would be something!

Isn't it just a bit weird, PiB, that two of the longstanding directors are leaving with other 'non-core' assets, including cash of $60,000, some other quite saleable items, shares, permits, leaving existing shareholders to refinance Talisman? Looks like the most promising parts of the HGD listed vehicle could be heading for private ownership. The announcement follows hard on the heels of the optimistic mine valuation, and the last 5 days trading has been used to set the price for the next set of shares.

http://nz.finance.yahoo.com/news/her...045412215.html

[tobo]

Censure by NZX -
Only one instead of two independent directors
Only 2 instead of 3 on the audit committee.

This has gone on for a year or so: they cannot find anyone to fill the gap.
"The candidate spent approximately seven weeks doing due diligence and finally declined the position on 14 July 2011; and"

And what about the wierd price jump yestuday, and extention of SSP, all on the same day as the above Censure announcement

[Landyman]

Funds raised - $306k - picking the name relaunch party will be held in Fiji!

Buy a shovel now!

[Landyman]

Does anyone talk HGD now NTL in the forums, I cannae find a thing.

[chippy52]

Same old, same old, please sirs can I have some more.

[Landyman]

Another director bites the dust today, not a good sign

[elZorro]

Some progress being made? Up25% today.

Pre-feasibility study now underway for reopening Karangahake mine

Ross Louthean — 5 November 2012
The pre-feasibility study for re-developing the historic Talisman gold mine at Karangahake was now underway for New Talisman Gold Mines Ltd (ASX & NZX: NTL).
This was a highlight point from the company’s just-released September quarter report and it follows a review of a scoping study obtained from the consultancy Mining One Pty Ltd.
The blueprint for the Talisman is for a small-scale, high-grade underground operation with a focus on the old mine’s Maria Vein and associated vein systems.
The company said recovery of existing stope-fill of “moderate grade” from the old workings appears likely, which will provide for early mine production.
The target was to complete the pre-feasibility by the end of March next year.
“Approaches have been received from a number of potential investor groups from China and Australia and a recent site visit conducted. Discussions are progressing with these parties,” the company said
New Talisman was hoping to appoint a mining engineer with specialist underground experience within the next few weeks.
The quarterly report said exploration over the next two years on the neighbouring Rahu exploration permit at Karangahake will take in deeper drilling of targets. The geological model indicates higher grades of gold and silver exist at depth.
The company has been granted a three year appraisal extension to the Rahu exploration permit and says a strong discovery at Rahu could provide supplementary ore for the Talisman operation in the longer term.
Subsidiary unlisted company Coromandel Gold Ltd holds the Northland base and precious metals prospect that had been granted by New Zealand Petroleum & Minerals (NZP&M) for a five year period.

[chippy52]

That's only the rights trading figure.