Heritage Gold...HGD

[Jess9]

RE Neighbours at war. A picture tells a thousand words...

[Jess9]

EX HGD's Website:

The Waihi North permit (1990 hectares) lies immediately adjacent to the northern wall of Newmont's Martha open pit mine.

The new Favona mine was found within 800m south of the Martha Pit and the orebody represents a parallel vein system.

Waihi gold is found in a series of narrow quartz veins that comprise a stock work of intersecting veins within 100m of the surface. The major gold-bearing structures all trend to the northeast and dip about 70-80 degrees to the east.

The hydrothermal alteration zone associated with the Martha gold deposit extends into the Waihi North permit and holes drilled by Heritage in recent years have encountered strong alteration and indicator minerals similar to those found in the Martha orebody.


DISC: hold options (HGDOB and HTMOA). Always, always DYOR!!!

[Jess9]

WG's 3m options expire April 13th (Easter Monday). Strike is 3.5c AUS.

[ScrappyO]

WG's 3m options expire April 13th (Easter Monday). Strike is 3.5c AUS.

That will be 5 months since permit application. He will have his fingers crossed.

[Oiler]

WG's 3m options expire April 13th (Easter Monday). Strike is 3.5c AUS.

I would hope WG will take up his options :eek: He already has a lot at stake and his uptake would be a vote of confidence for HGD.

Trent left the company on the 23rd March and I am sure he left with a clear plan forward for the company.

We all seem to be be focussed on a Newmont deal ( and rightly so ) but I am not sure that Newmont NZ know that they need to do a deal with HGD to secure the future of Newmont Waihi.

Newmont AU have done many JV deals before and know how to make these deals but can Newmont NZ pull this off :mad::mad:

Still a holder :)

Oiler

[ScrappyO]

We all seem to be be focussed on a Newmont deal ( and rightly so ) but I am not sure that Newmont NZ know that they need to do a deal with HGD to secure the future of Newmont Waihi.

Newmont AU have done many JV deals before and know how to make these deals but can Newmont NZ pull this off :mad::mad:

Still a holder :)

Oiler

Newmont are on the hunt


http://www.theaustralian.news.com.au/business/story/0,28124,25279457-5005200,00.html

[Jess9]

Well spotted. Good to see they are cashed up. 20c plus... The synergies they get alone from the proximity of adding HGD's "golden miles" is worth this. 10 plus years added to "life of mine" and lower cap costs as production facilities and staff are all in place!

WG will be hoping for that cash offer in the next few weeks ; ) Maybe HGD should have also applied for a mining permit; to start on that North (Martha mine) wall ASAP! Just a bit of late night forward thinking : ) Ha ha.

Have a great night all.

[tobo]

I do not want us to be "acquired" for just a few cents per share.
That would be opportunity lost.
(Not to mention the fact that many people's average sp cost is well above where we are now, including mine.)

Tobo (Holding, accumulating)

[clarky]

a JV is in the best interests of us shareholders...as long term investors it will give us the financial support to keep exploring and gain more permits. maybe a permit b4 easter would give the shareprice a much needed bump in the right direction.

[Jess9]

Still 1.6m available up to 2c on the ASX. Nice to see gold lifting its head. Looking forward to a decent quarterly update soon or better yet, a market sensitive announcement or two.

[BAPP]

Hi Jess9,

Yes, I'm sure all shareholders are looking for some positive news in the quarterly report which is due to be released at the end of the month.

Hopefully there will be some news on the permit application and some update on JV discussions.

My understanding is that there has been signs of interest... but nothing 'concrete' yet.

The next few months should be very interesting.

Fortune may favour the brave. :)

Cheers
BP:)

PS: As always DYOR.

[Jess9]

Great to hear from you BAP. Not a lot new to discuss I guess, to date at least. Hoping that will all change shortly : )

[croesus]

Likewise.... Good to see you back... BAP... expecting a announcement anyday re Permit application.....

[BAPP]

Thanks Jess9 & Croesus,

Hope you are both well and keeping positive:)

This link is worth a read: http://www.theaureport.com/pub/na/2479

Here's a snippet to get you thinking:

Cheers
BP:)

--------------------------------------------------------------------------------
Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. For the few of us still left sitting at the table in the exploration game the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics. In the end, the sooner you can turn the rocks into money the further you are ahead of the crowd.
---------------------------------------------------------------------------------

[skeet]

Hi Jess9,

Yes, I'm sure all shareholders are looking for some positive news in the quarterly report which is due to be released at the end of the month.



Could the permit news be realeased at the same time as the Quarterly report?? If not at least we should have some new news by the end of the week.

[Tanger]

The Crown Minerals website lists all applications and notes when they have been granted. Currently, the Heritage Gold application is still showing as having been received, but no further update. I imagine that it will have to show up there as soon as it is worked through, and therefore, unlikely to get much of an update form the Quarterly annoucement. But fingers crossed.

[BAPP]

HGD
30/04/2009
QUARTER

REL: 1519 HRS Heritage Gold NZ Limited

QUARTER: HGD: Quarterly Activities Report to 31 March 2009

30 April 2009

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

PAGES: 2

FOR PUBLIC RELEASE

Quarterly Activities Report to 31 March 2009

Heritage Gold is pleased to present this quarterly report for the period
ended 31 March 2009.

Highlights:

- Progress with Joint Venture Discussions
- Ongoing Review of MPA for Talisman
- Drilling at Thackaringa Cobalt Project

JOINT VENTURE DISCUSSIONS

Discussions with potential joint venture partners on the Karangahake Gold
Project (which includes the historic Talisman Mine) are continuing.

These have progressed to the stage where two interested parties have visited
the project and undertaken preliminary due diligence.

MINING PERMIT APPLICATION

In November 2008 Heritage lodged an application for a Mining Permit over its
Talisman and Dominion Knoll exploration permits at Karangahake.

The Mining Permit application is currently being reviewed by Crown Minerals.
In December, representatives of Crown Minerals Technical Group visited the
site to discuss the technical details of the application with the Company and
inspect the Talisman Mine.

In late 2008 Heritage began consultation with interested parties to outline
its plans prior to seeking resource consents from district and regional
councils. Consultation may take several months.

WAIHI DISTRICT GOLD EXPLORATION

Waihi Gold Tenements (Heritage 100%)

Waihi North EP 40-346
The application for an extension of duration for EP 40-346 is under review by
Crown Minerals and Heritage has provided additional technical information to
support the application.

Further data on the petrology of drill core samples were received from the
University of Auckland during the reporting period.

Golden Valley EP 40-736
Over the past three months Heritage has upgraded its database and negotiated
the trialling of seismic techniques as an exploration tool to determine the
depth of post-mineral cover (depth to the andesite which typically hosts
mineralisation in the region).

Karangahake Gold Tenements (Heritage 100%)

Dominion Knoll EP 40-521
The Company has lodged a Mining Permit Application over the contiguous
Talisman and Dominion Knoll permits which would lead to their amalgamation
for development purposes.

Rahu EP 40-117
During the quarter Heritage updated its geological and GIS database for the
permit, including information derived from XRD analysis of diamond core
(drill holes RHDD-01 to RHDD-11) from its drilling programmes, undertaken by
the University of Auckland Geology Department.

Compilation of historical geological and structural maps was initiated.
These maps will be digitised to form the basis for a detailed 3D geological
and structural analysis to aid drillhole design.

GOLD AND BASE METALS PROJECT (NORTHLAND, NEW ZEALAND)

An airborne geophysical survey of the tenements in the Northland region of
New Zealand that are held by Northland Minerals Ltd (a wholly-owned
subsidiary) is being evaluated. A combination of magnetic and radiometric
techniques is proposed, which are well suited to mapping hydrothermal
alteration systems associated with epithermal deposits and was successfully
used in 2008 over Heritage's Waihi tenements.

The Company is reviewing the specifications for the survey and investigating
the cost and effectiveness of using either fixed wing or rotary wing
(helicopter) aircraft.

Data compilation, geological mapping and geochemical sampling of the permits
have been carried out by Heritage.

BROKEN HILL COBALT LIMITED (Heritage 33%) (NSW, AUSTRALIA)

Broken Hill Cobalt (BHCL) completed preparations for RAB drilling strike
extensions of sulphide gossans anomalous for base metals, which have been
identified on the Thackaringa licence.

Field inspection of the licence by Heritage and BHCL personnel in November
provided the basis for the drilling campaign which was largely completed by
the end of the quarter. Results will be assessed as sample assays are
received.

CORPORATE

Trent Lash, Chief Executive Officer and former Managing Director, left the
Company on 23 March after resigning in September 2008 under the terms of his
employment agreement.

Peter Atkinson has taken over responsibility for day to day operations of the
Company.

About Heritage Gold

Heritage Gold (NZ) Limited is a leading New Zealand, dual listed (NZSX: HGD,
ASX: HTM) minerals exploration company with a portfolio of high quality gold
and base metal tenements in Australia and New Zealand.

Its gold tenements in the southern Coromandel region of New Zealand include
the historic Talisman Mine at Karangahake which produced over 1 million oz of
gold and 3 million oz of silver during its peak mining period.

Heritage Gold owns 33 percent of Broken Hill Cobalt Ltd ('BHCL'), which is
planning to develop a cobalt project at Thackaringa in New South Wales. BHCL
holds tenements about 25km south west of Broken Hill, which host Broken Hill
style base metal occurrences.

To learn more about our company please explore www.heritagegold.co.nz
End CA:00179240 For:HGD Type:QUARTER Time:2009-04-30:15:19:45

[Jess9]

"These have progressed to the stage where two interested parties have visited
the project and undertaken preliminary due diligence."

Thank God!

I think HGD is a little like going fishing. A lot of waiting then lighting action like when the U permit was announced! More of that please : )

[BAPP]

"These have progressed to the stage where two interested parties have visited the project and undertaken preliminary due diligence."

Thank God!

I think HGD is a little like going fishing. A lot of waiting then lighting action like when the U permit was announced! More of that please : )

Hi Jess9,

You got that right!

I quess the success of the 'due diligence' process will be largely dependent on mining permit approval at Talisman... so looks like we will be waiting a few more weeks yet!

This is a chicken before the egg scenario...

To get the mining permit you have to provide evidence that you actually have the expertise, finances and capabilities to establish and operate a mining facility.

HGD would need a JV partner to make assurances of this outcome... however a JV partner will want assurances that a long term mining permit is approved if they are going to get involved.

If the mining permit is approved.. I think you will see the 'action' you suggest.

From what I have been reading lately there is apparently signs of improvement in the capital raising markets for junior explorers with known resource, so maybe everything will fall into place.

Fingers crossed!

Cheers
BP:)

As always DYOR.

[ritchie]

fingers and toes crossed.

[BAPP]

Significant interest on the ASX to start the day!

Lets hope some positive news is about to be released!

Cheers
BP

[whatsup]

Bap, or someone else, on Sunday while passing through Waihi I stopped to have a look at the "pit" and from the site visit that I undertook 10 years there doesnt seem to be as much work going on down inside the hole, there seems to be a stop to the extraction at the bottom of the hole and more extraction on the side at the bottom towards the road. How much more excavation is there to take place inside the big hole and does anyone have an idea how much gold is currently being extracted.

[TTrader]

Significant interest on the ASX to start the day!

Lets hope some positive news is about to be released!

Cheers
BP

Indeed it has been quite a busy day compared to the usual trading volume

ASX: HTM
Shares Traded: 2993000
Turnover: $44,422

NZX: HGD
Shares Traded: 283000
Turnover: $6,076

Entry level on the NZX is 2.1, 1.6 on ASX....

Will be interesting to see if this continues tomorrow or if we do get some news out of it.

[Jess9]

Agree all, with the permit nearly through and due diligence underway volume and price increase looks good as the usual pre-cursor to something alot better ; ) Oppies maybe tempting soon at .4. A seller is flicking 1.5m. May have to rustle up some more high risk cash : )

[Jess9]

Good to see the move on the ASX 1st as well. ASX seems to drive the price.

[BAPP]

Bap, or someone else, on Sunday while passing through Waihi I stopped to have a look at the "pit" and from the site visit that I undertook 10 years there doesnt seem to be as much work going on down inside the hole, there seems to be a stop to the extraction at the bottom of the hole and more extraction on the side at the bottom towards the road. How much more excavation is there to take place inside the big hole and does anyone have an idea how much gold is currently being extracted.

Hi whatsup,

This link should help answer your questions: http://www.marthamine.co.nz
Look under updates and also the proposed east/west layback proposal.

Cheers
BP

[whatsup]

Thanks BAP but by the look of all the info there arnt too many options left for Newmont Martha, they must have worked out a plan or some sort of wind down will start soon, the W/E extention wont supply too much certainty/ore to keep such a operation with the associated over heads going, count down to action 10,9,8.......!*** watch this space.

[Jess9]

Assuming Newmont or a subsidiary of it is not one of the two looking at due diligence, and one of the parties offers a deal, then Newmont may be forced to make a move early (instead of waiting fo HGD to drop) if it is at all interested in HGD's permits. A multi-offer situation would be great! Who knows, but fingers crossed. In either case, any deal which gets the gold out of the ground will be a great outcome for all stakeholders, Waihi included.

[Jess9]

Nice solid rise in OBV over last week (HTM). This has been a nice lead signal in past. Hopefully a leggy rise soon, finally : )

[JBmurc]

whats the go with GEL I see they have a larger market cap than HGD ,Don't know if I want to sell or buy more HGD atm I see their Admin last yr was 780k they only have 800k in the bank they really haven't got to many options unless a J.V or takeover comes their way Shareholder's will be asked to front up with some more cash to keep admin members income's flowing

If you look at HGD from a J.V or takeover point of view why not just wait till HGD has to rasie more cash ,which will depress SH's even more an buy the lot for a song I'm sure Newmont will be thinking that as will the others

[BAPP]

whats the go with GEL I see they have a larger market cap than HGD ,Don't know if I want to sell or buy more HGD atm I see their Admin last yr was 780k they only have 800k in the bank they really haven't got to many options unless a J.V or takeover comes their way Shareholder's will be asked to front up with some more cash to keep admin members income's flowing

If you look at HGD from a J.V or takeover point of view why not just wait till HGD has to rasie more cash ,which will depress SH's even more an buy the lot for a song I'm sure Newmont will be thinking that as will the others

Hi JBmurc,

All very valid points.

Although there is also a counter argument that Newmont in Waihi will probably start closing down the mining operation in the latter part of 2010 if they do not establish a significant and economic gold resource in the meantime.

They have been spending close to $10 million per year drilling/exploring unsuccessfully in their permit areas around Waihi (inconjunction with Glass Earth) for many years.

So the question could be:
Can Newmont afford not to partner with HGD in the near future?

Hmmm!

Maybe time is running out for both companies.

Cheers
BP:)

[JBmurc]

Hi JBmurc,

All very valid points.

Although there is also a counter argument that Newmont in Waihi will probably start closing down the mining operation in the latter part of 2010 if they do not establish a significant and economic gold resource in the meantime.

They have been spending close to $10 million per year drilling/exploring unsuccessfully in their permit areas around Waihi (inconjunction with Glass Earth) for many years.

So the question could be:
Can Newmont afford not to partner with HGD in the near future?

Hmmm!

Maybe time is running out for both companies.

Cheers
BP:)

yeah real risky one could get a J.V or takover or carry on the same as in the past till SH's will have to pay-up
Think I should ask peter how a chances are on the above

[whatsup]

Just a thought if Newmont were to offer shareholders of HGD .10 per share or even shares in Newmont they would most probably be sucessful with their offer which from all reports is only 2 years exploration money that they are currently spending , money that from all reports has not been spent sucessfully ( in a new gold discouvery) , why not bite the bullet( so to speak ) offer the .10 per share and get on with life or mining.
Q;;what does Newmont get for their .10?
Q;2 Is there upside in the current HGD share price re the above?

[Jess9]

From memory thats the exact sort of deal which took out Otter Gold. If that occurs they had better pay more on the oppies : (

[Jess9]

What is different for HGD is the quanity of shares held by top 10. This hopefully would ensure a reasonbale good price offer flowing through to 2009 options.

[whatsup]

jess,. the oppies will take care of themselves.

[BAPP]

Just a thought if Newmont were to offer shareholders of HGD .10 per share or even shares in Newmont they would most probably be sucessful with their offer which from all reports is only 2 years exploration money that they are currently spending , money that from all reports has not been spent sucessfully ( in a new gold discouvery) , why not bite the bullet( so to speak ) offer the .10 per share and get on with life or mining.
Q;;what does Newmont get for their .10?
Q;2 Is there upside in the current HGD share price re the above?

Recently Newmont Mining Corp acquired the remaining 33% stake of the Boddington gold mine in Western Australia from AngloGold Ashanti Ltd's for $US1.1 billion. (see link below)

http://business.smh.com.au/business/newmont-buys-out-rest-of-wa-mine-for-us11b-20090128-7rlh.html

I suggest that by paying US$1 billion for a 33% stake they are indicating the mine is currently worth around US$3 billion.

Divide this by the forecast of approx 17.5 million oz of gold they suggest will be mined over the next 20 years and this indicates they are valuing the gold resource at about US$170 per oz.

If we use the same formula for the Talisman this could suggest that the JORC compliant resource of 205k oz would be worth US$34,850,000 or approx NZ$60million

Based on there being 288 million shares held in HGD ( not including options)you could work this back to approx 20c per HGD share. (hope I have my maths right!)

This of course is a rather simplistic view and valuation method, but I do think it clearly shows what value Newmont is willing to pay for an economic mine.

While we should probably allow some discount as the Talisman is not at production stage just yet...
..we could just as easily suggest that the gold reserves at the Talisman could be greater than 205k oz as management estimates are closer to 1 million oz... and don't forget the silver.

I also suggest that if the Talisman mine was located in Australia we would already see a JV partner involved and the share price would be tracking well above 10c. (purely my opinion of course!)

As always the market dictates the value of any share.. rightly or wrongly.. but this might offer some food for thought.

Cheers
BP:)

As always DYOR.

[Jess9]

Be nice to see a try at that kind of level : )

[JBmurc]

Great work BAP as HGD is my smallest holding I really haven't spent much time studying their value I original brought on the chance of a takeover from newmont still if they can prove up more resources like you say close to 1mill oz + silver their value will skyrocket north of 10c per share..

Anyone know the cost's an time frame they have on their permits like I stated in the previous post their current cash balance is only going cover their admin even though that should be down with trent leaving still they need money very soon ......

[BAPP]

Great work BAP as HGD is my smallest holding I really haven't spent much time studying their value I original brought on the chance of a takeover from newmont still if they can prove up more resources like you say close to 1mill oz + silver their value will skyrocket north of 10c per share..

Anyone know the cost's an time frame they have on their permits like I stated in the previous post their current cash balance is only going cover their admin even though that should be down with trent leaving still they need money very soon ......

Hi JBmurc,

I suggest that the uptake of the November options will ultimately determine the future of HGD.

My understanding is that the present cash situation should see management through another year of operation, albeit at a reduced level.

Then again a successful uptake of options in November could add another $3.5 million to the 'coffers'.

Of course without a successful uptake the future maybe bleak!..
... but, if successful, HGD would have enough cash to maintain their permits and drilling programmes for at least another 3-4 years.

Now that might just course some concern for Newmont?

This could almost be like a game of poker!
Who will hold the best hand in Waihi as we head towards 2010?:)

Cheers
BP:)

As always DYOR

[doon]

[QUOTE=BAP;255865]Hi JBmurc,

I suggest that the uptake of the November options will ultimately determine the future of HGD.

Yes, but??
For a successful uptake of options, the share price surely needs to be over AUD 8c, and they are currently trading at 1.6c on ASX.
I am looking forward to news positive enough to lift the share price 500% within the next few months, just like I guess many of us are.
A mining permit, and JV progress would help, fingers crossed.

[BAPP]

[QUOTE=BAP;255865]Hi JBmurc,

I suggest that the uptake of the November options will ultimately determine the future of HGD.

Yes, but??
For a successful uptake of options, the share price surely needs to be over AUD 8c, and they are currently trading at 1.6c on ASX.
I am looking forward to news positive enough to lift the share price 500% within the next few months, just like I guess many of us are.
A mining permit, and JV progress would help, fingers crossed.

Exactly...
so the question is... would you (if you were Newmont) sit back and take the risk that HGD will not gain the mining permit or a JV partner before Nov?..

If you wait and they are successful you would miss out totally and be left with a possible production closure at Martha and Favona in a year or so...

..or would you pay up for a JV with HGD, have a share in Talisman and the Waihi permit areas... and gain some additional funds for development via the options being successful (due to your JV which the markets would like).

Along with this you could probably rationalise your own future exploration costs in the area, as you have been spending $10 million per annum for quite a few years without any success.

Not rocket science IMO... but then again I'm not running these companies:)

As I said... just food for thought!

Cheers
BP:)

As always DYOR

[Jess9]

Liquidity (and price) improving again on ASX today.

[JBmurc]

Liquidity (and price) improving again on ASX today.

yeah the depth looking a lot healthy today on both sides of the Tasman I see their was 50k brought at .024c NZX on good news buyers will have to pay up for a decent 1mill holding

[JBmurc]

HTM on the asx just traded 100k at 2c in watching the two it's like the HTM leads HGD
still low vol but on a day that most jnr goldies will be down?

[Jess9]

If Peter can complete a good quality JV deal soon with any granting of the Talisman mining permit we may see 10c again...depending on detail. Fingers getting a little tired ; ) but still firmly x'd : )

[Jess9]

http://www.smartmoney.com/breaking-news/on/?story=ON-20090518-000493-1519

[Ponda]

Tanger,
I have been unable to locate the progress of the permit that you have referred to on the site.
Are you able to give an update. Thanks in advance.
Another 100k at 2.4 today already. People are starting to sit up and take notice.

[BAPP]

Tanger,
I have been unable to locate the progress of the permit that you have referred to on the site.
Are you able to give an update. Thanks in advance.
Another 100k at 2.4 today already. People are starting to sit up and take notice.

Hi Ponda,

If you are looking to keep up to date with the Talisman permit application, this link may be of help:

http://data.crownminerals.govt.nz/PermitWebMaps/StaticReport.aspx?application=51326

I am sure HGD will inform the markets very quickly once/if the permit is approved!

Cheers
BP:)

[Tanger]

Thanks BAP.

Yes, no change to the status of the application. Still waiting... fingers crossed.

[TTrader]

Checking the Crown Minerals website shows nothing either....

Have notification feeds setup for the Heritage website, share volume/price and the Crown Minerals site... Will be interesting to see how it plays out..

[Jess9]

This looks interesting: http://www.kitco.com/ind/Radomski/may202009.html

Majors and alot of junior perking up right now. HGD is going to have a whacking great catch-up with a bit of good timing

[croesus]

Interesting Jess.... he underlines my theory with HGD, when he says the risk is more being out then in.. ( he is talking re gold) but I have the same thought re with HGD....
disc WID CUE PPP HGD... etc..

[Jess9]

Hi croesus. OBV looking like a good initial signal. Also depth looks somewhat different from past patten. Gold today back over $950 (maybe another crack at 1K) and alot of peers have put on alot more weight than skinny old HGD. HGD is now heading into tipping point? Target 10c on the right news : )

[Jess9]

The current 800K oz of silver and 205K gold resource with a mining permit will be a nice start shortly However, a 2M oz target potential as discussed in last pre-feas. study, is where the action really could be next, with the help JV or direct ownership of a larger player.

[BAPP]

Could it be a bad sign for the permit to still be classified as "Submitted" over 6 months after the application was entered?

A quote from the HGD Announcement (https://www.directbroking.co.nz/DirectTrade/dynamic/announcement.aspx?id=2101491) on 14/11/2008 states

"The mining permit application was lodged with the Ministry of Economic
Development, Crown Minerals Department today and it is expected that the
review process and granting of the permit could take up to six months."

Hi Yankiwi,

IMO this is not a problem at this stage ... there is a lot of paperwork and process to work through. If you have a look through the Crown Mineral website: http://www.crownminerals.govt.nz/cms/minerals, it gives you some idea on the preparation required for an application.

Might get worried if we haven't heard anything within the next quarter tho!

The recent activity in trading volume and improving price of gold all helps towards a favourable outcome.

Cheers
BP:)

[Jess9]

http://www.bi-me.com/main.php?c=3&cg=4&t=1&id=36742 (re upside break)

http://www.bi-me.com/main.php?c=3&cg=4&t=1&id=36753 (re gold over 1K)

[tobo]

... (re gold over 1K)

3 competing views in that review:

1. inflation, US assets weakness, the US dollar weakness
John Reade, a precious metal strategist at UBS in London:
"one- and three-month forecasts at US$950 and US$1,000 an ounce, respectively"
Hussein Allidina, head of commodities research at Morgan Stanley in New York: "above US$1,050 an ounce on average for the rest of the year."
Dan Deighan, founder and president of Deighan Financial Advisors
"significant downward drop across US markets that's going to occur in the third or fourth quarter of this year" ...says he's heard gold forecasts ranging from US$1500
Jan Loeys, the global head of market strategy at JPMorgan Chase & Co: “Over the next year or so, we think we are going to be crossing US$1,000, probably go ultimately to US$1,200, US$1,300 just for inflation hedging and lack of supply,”

2. USD Free-fall
Ned W Schmidt, publisher of the monthly The Value View Gold Report, believes the dollar is about to "go into free-fall," and that would have some strong positive implications for the price of gold.
"translates into a US Dollar price of gold of more than US$1,100,"

3. economic optimism
latest Fortis Metals Monthly from Virtual Metals' analysts:
"It is not clear what impact it will have on gold. Inflation seems a long way away and so we see Gold Prices drifting lower."


Seems to be more weight behind option 1.

[Ponda]

240K shares sold at 2.5 cents with the uyer wanting another 260k at 2.5. Share price is starting to firm.
My average price is 4.6 so still a little way to go befor i'm on the right side of the ledger.

[Jess9]

Volume up and trading at 2c AUS now. A good close over 2c AUS on volume would be another nice signal that were nearly off!

[Jess9]

high for day over there now 25% up : )

[Ish]

Sold my stake today with a 60% profit.

Need the cash to take up the BUL spp on the asx.

goodluck to holders :)

[Jess9]

Nice one Ish. Cant go wrong locking in profit. IMO HGD is just getting started. Target 10c plus. Bit of quiet accumulation in bidding today. Nice to see some life here again!

As with all investments DYOR!!

[STRAT]

Nice one Ish. Cant go wrong locking in profit. IMO HGD is just getting started. Target 10c plus. Bit of quiet accumulation in bidding today. Nice to see some life here again!

As with all investments DYOR!!Im not so sure about that Jess. HGD going off today. Yall should be rather excited

[BAPP]

Good to see the 'spike' in price and interest.

Wonder if there is any connection?
http://news.smh.com.au/breaking-news-business/oceanagold-searching-for-new-ceo-20090525-bjw9.html

Cheers
BP

[tobo]

a bit of a tenuous connection...
(action on a rumour)

but maybe this is just a gradual return in confidence, (along with POG outlook).

Gradual sp strengthening is the best: something that will last.
And that was a dozen trades on NZX,
and half a dozen on ASX (only one was at A2.5c though).

I can't even remember my average cost, but not selling!
_______
ToBo

[Jess9]

Good to see the 'spike' in price and interest.

Wonder if there is any connection?
http://news.smh.com.au/breaking-news-business/oceanagold-searching-for-new-ceo-20090525-bjw9.html

Cheers
BP

Hmmme wouldn't it be a hoot if Trent turned up there, or Steve here! Either would be great for HGD Who knows ; )

[BAPP]

a bit of a tenuous connection...
(action on a rumour)

but maybe this is just a gradual return in confidence, (along with POG outlook).

Gradual sp strengthening is the best: something that will last.
And that was a dozen trades on NZX,
and half a dozen on ASX (only one was at A2.5c though).

I can't even remember my average cost, but not selling!
_______
ToBo

Hard to see that recent share price increase could be anything other than speculation based around the POG or rumours.

There are no announcements to the market regarding the JV or mining permit, so either insiders or speculators must be driving the recent 'spike'.

Either way 'fingers crossed' the price keeps the upward trend... although I would like to see some positive news regarding the JV and mining permit sooner rather than later.

Cheers
BP:)

[croesus]

Agree with you BAP.... just hot air till we get a announcement....personally I couldnt give a "hoot" where Trent turns up.... In my opinion he hung around just long enough to collect a fat paycheck..

[Jess9]

Hi Croesus. Hot air? The market is assimilating all information and just added 20% today to HGD/HTM's market value. It is collectively adding one and one, but betting it may equal a couple of tonnes of shiny new gold reserve. Holders in the coy have had their fair share of disappointment (me included) but a lot has been done by Trent and the the board, the fruit of which could eventuate shortly if taken further by others. Timing is right and HGD could rerate very quickly. Lets see where this goes. A little more patience.

[BAPP]

This article may be of interest to those following the price of gold.
I quess that includes most HGD shareholders:)

http://www.marketwatch.com/story/gold-on-verge-of-historic-breakout

Cheers
BP

[TTrader]

Still no updates, However the sellers are getting a little optimistic on their asking prices. :rolleyes:

[Ponda]

Todays full year announcement caused a good reaction on the SP on the NZX.

[ScrappyO]

Any thoughts on this quote in the report.

Waihi North application for an extension of duration was declined
by the Ministry of Economic Development (MED), and the company is now considering its options.

I did notice a while back that the council involved in this area had Waihi North zoned for residential. Looks like its the Talisman or nothing.

[Jess9]

http://www.commodityonline.com/news/Gold-price-to-touch-$1-400-in-six-months-18253-3-1.html

[Jess9]

Any thoughts on this quote in the report.

Waihi North application for an extension of duration was declined
by the Ministry of Economic Development (MED), and the company is now considering its options.

I did notice a while back that the council involved in this area had Waihi North zoned for residential. Looks like its the Talisman or nothing.

Would be nice to know more. Newmont pushing for a land grab??

[Jess9]

If HGD/HTM gets a few more cents on, the November 2009 options (HGDOB and HTMOA) should fire up. Fingers x'd. The coy would certainly like to see the cash from a successful exercise. Here's hoping : )

[TTrader]

If HGD/HTM gets a few more cents on, the November 2009 options (HGDOB and HTMOA) should fire up. Fingers x'd. The coy would certainly like to see the cash from a successful exercise. Here's hoping : )

Does anyone have the historical prices for Heritage options?

[Balance]

If HGD/HTM gets a few more cents on, the November 2009 options (HGDOB and HTMOA) should fire up. Fingers x'd. The coy would certainly like to see the cash from a successful exercise. Here's hoping : )

What is going to fire up this stock?

Other gold stocks are jumping all over the place but this one does nothing?

[miner]

They could always try digging some of it up.

Cheers
Miner

[Jess9]

What is going to fire up this stock?

Other gold stocks are jumping all over the place but this one does nothing?

JV. HGD holds the ground but needs capital and mining expertise. Some level of due diligence is underway per last quarterly from 2 o/s parties. HGD have a mining permit well underway for their Waihi Talisman mine (which has 205K gold and 800K silver resource and potential for 2M and 8M).

With gold heading through $1K soon (knock wood) the incentive/payback to reach agreement and dig it out may occur very soon.

[Jess9]

http://data.crownminerals.govt.nz/PermitWebMaps/StaticReport.aspx?permit=40687

Looks like Newmont's "martha" exploration license is up for renewal in the next few days. They have applied for another 5 years.

[JBmurc]

I'm all out today good luck guys moving funds away from the NZX to the ASX will keep an eye on HTM if some good news comes about which it better soon....

[brettdale]

They could always try digging some of it up.

Cheers
Miner

If they had some.

[Balance]

If they had some.

Are the reserves at Talisman proven?

You wonder don't you whether they dangle the carrot of 'reserves' to keep taking cash from the market and shareholders to keep drilling and exploring?

If there are indeed reserves in them hills, why not concentrate and mine the stuff?

[Jess9]

Are the reserves at Talisman proven?

You wonder don't you whether they dangle the carrot of 'reserves' to keep taking cash from the market and shareholders to keep drilling and exploring?

If there are indeed reserves in them hills, why not concentrate and mine the stuff?



This shows what the have now: http://www.heritagegold.co.nz/projTalisman.html

Re get on and mine it out, they are but need to have their mining permit granted first. This is in process now with MED (hopefully nearly granted - applied in November 2008).

[Paint it Black]

One hopes the officials at MED working positively on this, a little bit of out of hours work maybe, not the can't make a decision so I'll send another email approach unfortunately typical of many bureaucrats in Wellington. I also trust HGD are on the phone daily from Parnell tracking progress and quickly responding. I can't help think this is drifting and time is very critical Do we need to get Mr Key involved to rattle a few cages!

[Jess9]

With a mining permit in place for the Talisman resource HGD will get way more attractive, virtually overnight to investors, potential JV partners and as an outright t/o target. Just think what a great way for an exisiting miner to bag instant additional resource, 1M + oz potential and almost/if not in place mining permit for it all (saving months and months of start-up time). The problem BAP rightly notes is that it may be sticky if HGD must demonstrate how it will fund the mine development. Hopefully HGD can suggest to MED the deal will form when certainly of the permit eventuates.

Value is piling on miners right now (just look at OGC for example) the money will roll to juniors, especially those with attractive development assets, especially when gold gets legs over $1K. On this basis HGD is a great spec share. But DYOR. Fingers x'd ingredients are all in place for a lot of share and option holder wealth creation next!

[Balance]

With a mining permit in place for the Talisman resource HGD will get way more attractive, virtually overnight to investors, potential JV partners and as an outright t/o target. Just think what a great way for an exisiting miner to bag instant additional resource, 1M + oz potential and almost/if not in place mining permit for it all (saving months and months of start-up time). The problem BAP rightly notes is that it may be sticky if HGD must demonstrate how it will fund the mine development. Hopefully HGD can suggest to MED the deal will form when certainly of the permit eventuates.

Value is piling on miners right now (just look at OGC for example) the money will roll to juniors, especially those with attractive development assets, especially when gold gets legs over $1K. On this basis HGD is a great spec share. But DYOR. Fingers x'd ingredients are all in place for a lot of share and option holder wealth creation next!

And what if they get no mining permit?

[croesus]

Then the shares will be worth .0002c each

[JBmurc]

Then the shares will be worth .0002c each

that's why i sold out for a 40% profit if they get the permit then they need more cash or a J.V partner which will get a good deal as HGD needs capital or it will be a sitting duck for cheap takeover.
all a while HGD cash balance is running down.....Time is not on HGD's side

[lager]

Time will tell but GOLD price is moving up. Having held HGD for more than 10 years, I am hoping that it will one day prove that I am on the right path.

[Greenfield]

Seven months since permit lodged, hmmm might be time to take my money off the table.
gold broken through support aswell.

[underground]

Having held HGD for more than 10 years...

oh god.. 10 years... im glad i sold most of my position and free carried when the share price was 10c..this is my bottom drawer stock..

i wonder what the typical working week is like for HGD and its employees... wake up at 11am goto work at 12.. lunch a 12.30.. idle chit chat and back off home at 3pm ?

[Paint it Black]

Can't help but agree with you Underground. One really hopes both the Govt and HGD are working as hard as possible to get the permit sorted and are not stuffing around. Hopefully it is not requiring a neighbour's or iwi consent. With gold heading rapidly north and unemployment rising and the looming shortage of patrol cars surely it is in NZ's interest to get moving on this and not get hung up on some bureaucratic nonsense. Can the local MP put a word into someone's ear!

[Shinystuff]

oh god.. 10 years... im glad i sold most of my position and free carried when the share price was 10c..this is my bottom drawer stock..

i wonder what the typical working week is like for HGD and its employees... wake up at 11am goto work at 12.. lunch a 12.30.. idle chit chat and back off home at 3pm ?

Thats a bit rough dont you think when i know for a fact that HGD employees all work very hard and the permit taking ages to be granted has doesnt have much to do with them and a lot to do with crown minerals:confused:

[Ponda]

Welcome to the boards Shinystuff!
I agree with you on that one. HGD had another bad day on the NZX, oh well, thems the breaks.
What I would like to know is what are the implications when the permit decision comes out.
There is only two options either we get the permit or we don't.
If we do then there will be the good increase in SP that we are all expecting, however,
if we don't get the permit where does that leave HGD. I'm confident that the SP will drop.
I am sure that HGD have other pokers in the fire that they can carry on with. Will that be adequate enough to rescue the SP later on down the track.
This little puppy is my retirement fund and I'm along way from retiring so it has ample time to recover.
Others thoughts.

[croesus]

Have been a holder for years... but if the Permit does not come thru.. we are toast.

No other pokers in any fire..... no more cash in the bank.. the last CEO has shot the gap... well paid no doubt.....

Shineystuff.. so you know " for a fact employees all work very hard".... sounds like a Tui Advert.....

correct me please if I am wrong... but in over 20 years of "very hard work" not one ounce of gold /silver or uranium.. has been dug and sold

[miner]

Don't hold your breath for HGD or anyone for that matter to mine talisman or you will go blue and die.

Cheers
Miner

[Ponda]

Hi Miner,

Why do you say that?

Thanks,

Ponda

[ScrappyO]

Interesting Article..Herald

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10579574

[Balance]

Experience suggests that the longer the permit takes, the less likely it is going to be granted.

Also, share price suggests informed holders taking their money and running?

[Greenfield]

So Newmont are looking else where in the hope to find a large deposit of gold. Really Heritage only has 200,000 ounces, as far as I know and probably not even on the radar for Newmont.

Regarding the permit application, it would be stupid for it not to be granted given the upside if mining were to go ahead, jobs etc. Like the article says NZ needs to show it is an easy place to do business for overseas exploration companys.

[Shinystuff]

Have been a holder for years... but if the Permit does not come thru.. we are toast.

No other pokers in any fire..... no more cash in the bank.. the last CEO has shot the gap... well paid no doubt.....

Shineystuff.. so you know " for a fact employees all work very hard".... sounds like a Tui Advert.....

correct me please if I am wrong... but in over 20 years of "very hard work" not one ounce of gold /silver or uranium.. has been dug and sold

The fact that they are still going after 20 years says a lot about the fact that thay can weather a storm. Finding a good gold deposit is like finding a needle in a haystack, even if it is a relatively prospective haystack. They dont have loads of money to throw around so they do the best they can but betting on HGD is a long term commitment, granted in this case very long term but you wouldnt do it if you werent an optimistic type of person.

Even newmont, who has heaps of money to throw at exploration is struggling to find a substantial deposit outside of Martha and they have a huge focus on exploration. Its just the nature of the game

[whatsup]

One would have thought that any journalist( worth his/her salt ) writing a story about the Matha Gold mine and Newmount running out of gold would have dug around and found what their options were, if he/she had of dug even slightly under the surface they could have discovered the existance of HGD, their leases and gold grades etc and incorported that company(HGD) into the story as a possible solution to the Matha gold mine running out if it were to come to some form of commercial arrangement as a way of extending the life of the mine and the future of the town and its work force.
I is for this reason that I think that this Saturdays article was a Newmont beat up/ publicity spluge.

[Ponda]

Balance, looking at the charts and recent sales, it looks to me that it is not the 'smart money' that is leaving HGD. There was 330,000 shares traded on Friday. At the end of June there was a big spike in volume, approx 900,000 which also caused a spike in price.

Looking at the current depth there are 1.8 million shares on offer, but that ranges up to 13 cents so I think that it's fair to say that there are a lot of profit takers out there. The factor that makes me more secure is the fact that of all the ASKS they are mostly one seller wanting to sell small parcels i.e $6,000 worth. Not multiple sellers trying to get out.
I feel that it is more to do with mums and dads not having the permit result and are starting to get itchy feet and bailing. They then see that the price is dropping and that makes them more convinced that the sky is falling. Thats all good Balance because it's giving you the opportunity to top up!!!!

[ScrappyO]

Scenarios for Waihi.
It would be nice to see Talisman mine where the question mark is.



http://www.marthamine.co.nz/PDF/scenarios_1108.pdf

[chippy52]

The estimate for permit approval was 6 mths. If you were to examine the crown minerals web site for application approvals you will see they can take anywhere between 4 & 12 mths. :cool:

[Odd Fellow]

But if the management would publish a update on a monthly basis
we all would feel a bit more confident, we don't really now they are
still with us. ;)

[Greenfield]

Thats all good Balance because it's giving you the opportunity to top up!!!!

No offence to you Ponda, but when I see comments like this thats when I sell out.

[Ponda]

No offence taken Greenfield. I was just passing comment that if people are selling out small parcels at a lower price then it is a good time to get some more. I have a price when I want to get extras and I am more than happy to wait.
It's obvious that you have been with HGD a lot longer than I have and I would suggest that you have far more knowledge. I was just putting my ponderings in.

[Jess9]

Newmont: $10m per year and nothing. They should have had a go at HGD awhile ago and bagged the already booked 204K gold and 800K silver and spent the rest proving up the surrounding 1-2M oz in and around Talisman. Talisman is a stones through from their plant. An additional 10-20 years of operation obtained almost o/night and on their doorstep. 10 to 20c would maybe do it today and they would now get an "instant" mining permit (as a JV would clinch it). Newmont, put old politics behind you and focus on the numbers and jobs for Waihi (and a fair reward for us patient holders ; )

[BAPP]

Newmont: $10m per year and nothing. They should have had a go at HGD awhile ago and bagged the already booked 204K gold and 800K silver and spent the rest proving up the surrounding 1-2M oz in and around Talisman. Talisman is a stones through from their plant. An additional 10-20 years of operation obtained almost o/night and on their doorstep. 10 to 20c would maybe do it today and they would now get an "instant" mining permit (as a JV would clinch it). Newmont, put old politics behind you and focus on the numbers and jobs for Waihi (and a fair reward for us patient holders ; )

Hi Jess9,

This all seems to make sense to us :)... but there must be 'more to it than meets the eye' .... ?

Time is of the essence for both companies in Waihi ... you could say the count down has began!

Unfortunately I don't think either set of senior management will be very concerned about what is deemed as 'fair reward' for us patient shareholders.

The next 3-4 months could either 'make' or 'break' HGD and IMO it is 50:50 call to which way our 'fortunes' will go.

The JV is essential as this will likely lead to securing the mining permit... and future funding etc... but the clock is ticking down!

Obviously still got my fingers crossed tho!

Cheers
BP:)

[Paint it Black]

Thanks BAP - why do you say the JV is essential and will then lead to the permit? With the permit application already lodged and being processed under HGD's name I would have thought the consent, if it does come, would be independent of any JV arrangements. Maybe the consent will have conditions attached to it which will force HGD into obtaining the required expertise but this is something HGD could negotiate from a position of strength - possibly they could even sell the consent as often happens with Resource Consents. I always understood the sequence was get the consent, form a JV then mine. If we need to wait until a JV is formed it could take forever.

[Oiler]

Experience suggests that the longer the permit takes, the less likely it is going to be granted.

Also, share price suggests informed holders taking their money and running?

Balance

Have you considered the fact that the mining application is taking a little longer, maybe because we have effectively over recent years all but shut the Crown mining application department down through anti mining legislation.

I have to beleive the change of govt has looked seriously at "how we can safely capitalise" on our resources. HGD management probably have to hold the hand of a 30 yr old and show him/her how a certain process is done in practical terms and step them through the whole process.

NZ has had a very "unfriendly" approach to mining over the recent years and hopefully John Key is trying to turn this around. The mining approval will lead to creating jobs, export sales to help the country balance its books :D:D This has to be a consideration.

I am looking to a positive outcome within two months :eek:

[BAPP]

Thanks BAP - why do you say the JV is essential and will then lead to the permit? With the permit application already lodged and being processed under HGD's name I would have thought the consent, if it does come, would be independent of any JV arrangements. Maybe the consent will have conditions attached to it which will force HGD into obtaining the required expertise but this is something HGD could negotiate from a position of strength - possibly they could even sell the consent as often happens with Resource Consents. I always understood the sequence was get the consent, form a JV then mine. If we need to wait until a JV is formed it could take forever.

Hi Paint it Black,

You could well be right.. however my understanding of the consent process is that HGD will need to provide amongst a list of requirements, evidence of mining expertise, their assess to capital to progress the operation and the capabilities of establishing production facilities within a reasonable period.

While HGD management has the exploration expertise and possibly the expertise to undertake the scoping study and bank feasibility study, I am not sure they can take the Talisman venture much further without the assistance of a mid-tier mining company in a JV.

Therefore IMO the mining permit is unlikely to be approved without this assistance and expertise being confirmed and I think the MED requirements will be very specific about future requirements and time frames.

If you look back on this thread about 3 months back you will see some points I made relating to these points and others.

Of course the scenario could be that the MED may approve the mining permit based on an experienced JV partner becoming involved to operate the facility.

I quess it is the 'chicken or the egg' scenario.

Cheers
BP:)

[Jess9]

Hi BAP. As usual its more waiting game for us "patient" s/o holders : ) The upside is that with things where they are, fortune can potentially change overnight. Downside is ongoing inaction (if that makes sense ; )

[Jess9]

I wonder if it (JV) can be made subject to MED approval of future contracted mine expertise. Logical way to start the sequence. Any subsequent JV partner/party then knows what it gets now and will need to provide to operate etc.

[BAPP]

I wonder if it (JV) can be made subject to MED approval of future contracted mine expertise. Logical way to start the sequence. Any subsequent JV partner/party then knows what it gets now and will need to provide to operate etc.

Hi Jess9,

Shouldn't be any reason why not ... given certain proviso's.

However in my opinion it would be far more advantageous for shareholders that a JV or at least a memorandum of understanding with an interested party be confirmed beforehand.

The mining permit will do 'little' for the share price without the ability to get the 'ore' mined and gold and silver processed.... for sale!

A mid-tier producer joining the venture could quickly change this equation and may encourage the MED to provide the required approval.... which in turn could encourage the options holders to exercise their options in November... which could then kick start the entire process with additional funds etc.

All conjecture at the moment tho.

Cheers
BP:)

As always DYOR

[Paint it Black]

Thanks again BAP. I know little about mining consents but a reasonable amount on Resource Consents and Building Consents. With an RC or a BC say for a house one does not need to say who the builder is going to be. However one needs to describe the technical parameters of how the work will be done ie drawings, specifications, earthworks and sediment control, traffic management etc.. The Council will then either decline or approves subject to a list of conditions. None of these conditions will say who one needs to join forces with to implement it. The Council will then monitor the work to ensure the consent conditions are met. Therefore IMO if HGD obtained the consent and failed to meet their conditions a 'stop work' notice would be quickly issued by the Council. Obviously HGD would want to prevent this by obtaining the required resources if need be through a JV. That's how I see it but as I say I'm unfamiliar with mining consents.

Yes Oiler - I think Gerry Brownlee and John Key should receive some serious lobbying from HGD and the local MP and community. It seems unfortunate that many people are saying Newmont are the only logical suitor with their plant nearby. Perhaps HGD can learn a lesson from PPP, who have not simply sat there waiting for NZO to take them over, and start a few plays themselves to get things moving - if they obtained the permit and promoted an alternative scheme to mine it themselves (with a further rights issue) I personally would be pleased to chip in.

[whatsup]

HGD report available.

[Odd Fellow]

But will it reflect on the share price.

The permit is still missing.

[Balance]

Plenty of selling. SP says bad news on the way.

[Greenfield]

? plenty of selling?

Think you might have posted in wrong thread

[Balance]

? plenty of selling?

Think you might have posted in wrong thread

22,700 to buy at 2.2c and 46,000 to buy at 2.0c.

450,000 to sell at 2.5c, 204,286 at 2.6c, 200,000 at 2.7c and 195,200 at 2.8c.

Yes, I call that plenty of selling.

If there's good news on the way, those shares would be mopped up.

Instead, the sellers are moving out in volume.

[Ponda]

Thanks Balance for your numbers in respect of the 'selling pressure' on HGD.
Since your post I have had a look at the numbers on the quotes board and it doesn't appear as concerning as what you're suggesting.
Up to and including 4cents, there are 1.3 million shares on offer at a value of $37,000. If you push the boundries even further and go to the 13 cent ask, there are 1.9 million shares with a value of $60,000.
Market cap. @2.3 cents is $6,617,126. So a total ask of $60,000 which is less than 1% of available shares does not indicate (to me anyway) that sellers are 'moving out in volume'
While am at it I may as well look at the total shares. There are 287,700,320 shares and there are 1,900,000 shares for sale. Which is about .66% of available shares.

No, I'm not worried and am more than happy to hold at this stage.

[Balance]

Thanks Balance for your numbers in respect of the 'selling pressure' on HGD.
Since your post I have had a look at the numbers on the quotes board and it doesn't appear as concerning as what you're suggesting.
Up to and including 4cents, there are 1.3 million shares on offer at a value of $37,000. If you push the boundries even further and go to the 13 cent ask, there are 1.9 million shares with a value of $60,000.
Market cap. @2.3 cents is $6,617,126. So a total ask of $60,000 which is less than 1% of available shares does not indicate (to me anyway) that sellers are 'moving out in volume'
While am at it I may as well look at the total shares. There are 287,700,320 shares and there are 1,900,000 shares for sale. Which is about .66% of available shares.

No, I'm not worried and am more than happy to hold at this stage.

You could have said the same thing about PVO, a stock I have tracked, about what's on the bid and offer being miniscule compared to total number of shares on issue.

Reality is that what's on the screen is a good representation of the sentiment behind the stock. In this case, many wanting to get out and pushing the price down as they get out. Buyers staying clear unlike a month ago.

[miner]

As far as I have been told anyone who wants to work Talisman cannot truck the ore through the gorge,so sure they have a bit in the ground but what's it going to cost to get it out an process it ???.

Cheers
Miner

[BAPP]

As far as I have been told anyone who wants to work Talisman cannot truck the ore through the gorge,so sure they have a bit in the ground but what's it going to cost to get it out an process it ???.

Cheers
Miner

Hi miner,

I suggest that if HGD partners with another mid tier producer at Talisman their processing and treatment plant will be situated fairly close to the existing mine.... so trucking ore through the gorge will not be an issue.

However having a treatment plant situated in this area could possibly be one of the main issues being raised with the permit approval. Maybe this is a reason the permit approval is taking a long time?

Cheers
BP:)

[Balance]

As far as I have been told anyone who wants to work Talisman cannot truck the ore through the gorge,so sure they have a bit in the ground but what's it going to cost to get it out an process it ???.

Cheers
Miner

I think therein lies the answer as to why nothing has happened so far? Newmont is not a dumb outfit and the NZ Managers would have been desperately looking for new mines to work, either by exploration or acquisition, to avoid being made redundant when Waihi is shut down. They would have had a look at Talisman?

Meanwhile, why did the CEO quit in a hurry last year? Always a bad sign.

[Jess9]

Cracking good solution. Especially if we get the green light for the whole show soon. As a complete working package Talisman will have a high marketable valuable and quite quickly. I understand their is a lot of old ore ready to be processed. Therefore a small cash return is almost immediately available once processing starts, until mining proper kicks in. Let's go MED!!

[Balance]

Cracking good solution. Especially if we get the green light for the whole show soon. As a complete working package Talisman will have a high marketable valuable and quite quickly. I understand their is a lot of old ore ready to be processed. Therefore a small cash return is almost immediately available once processing starts, until mining proper kicks in. Let's go MED!!

Yes, and HGD has only had the last decade to think of this??????

Sp action says big shareholders trying to get out before MED decision.

[miner]

Bap not sure if it's viable to set up a whole new plant for Talisman never mind the decline etc as they will never open cut it,remember before HGD grabbed the claim at midnight it was basically a two man operation,sort of a hobby mine,jess9 not sure if I would call a ute full of low grade ore lots.

Remember just trying to help,don't hold HGD never have never will.

Cheers
Miner

[Balance]

Bap not sure if it's viable to set up a whole new plant for Talisman never mind the decline etc as they will never open cut it,remember before HGD grabbed the claim at midnight it was basically a two man operation,sort of a hobby mine,jess9 not sure if I would call a ute full of low grade ore lots.

Remember just trying to help,don't hold HGD never have never will.

Cheers
Miner

Those who bother to follow you in other mining stocks like PRC and NZO know that you know your stuff.

Problem, Miner, is that investors in the likes of HGD buy and hold on hope and hype a lot of times.

Why did Newmont not buy Talisman?

We watch the sp action and movements in management etc and they usually tell the real story.

[Greenfield]

htm 2,345000 traded today and price held at .015

smart money getting in or out?

dont know what hgd done never looked at nzx,

[Jess9]

Hi Greenfield. HGD today hinges on a JV partner. Annual notes "parties" have gone home after a look through to think it over (prelim due diligence). If one of these parties stumps up with a lump of cash and expertise; the golds there and in good commercial quantity. The wider market then gets an objective cue of Talisman's true worth, and the HGD's price will move higher accordingly. If nothing eventuates re JV/take over offer, it limps along for awhile longer.

[Crypto Crude]

Over the last 6 years I reckon ive had 5 investments in non oil stocks...
5 Of them were losing positions...
I am again losing my confidence when I steer away from my main strategy...
In saying that I would seriously consider buying this stock after reading the Annual report, and after talking with Oiler at the sharetraders meeting in CHCH a week ago...
Its pretty much spelt out in the Annual report...
there are three partners who are going to fight for a deal with Heritage over its Talisman assets...
I think theres a good few months for me to wait with Due dillagence, and I believe permit approvals...
I was also surprised when I asked Oiler which stock out of HGD/LMP had the most leverage on the NZX...
This 'oil nut' replied by saying heritage...
now that is saying something...
I wont say anything more until I hopefully buy later this year...
I think there is sometime to wait...
;)
.^sc

[Jess9]

it could flip quick on the right news...but then I've been awaiting this for some time : ) Bit of interest today, picked up in a down market.

[croesus]

thats true Jess.....wonder why... ?.....not expecting a result re our permit for a while yet.

[BAPP]

thats true Jess.....wonder why... ?.....not expecting a result re our permit for a while yet.

Hi croesus,

Suspect some traders speculating 'a little' .... there is no news to suggest otherwise and I agree we are probably a 'month or two' away from any updates with regards to permits or JV's. (of course this is only my Opinion)

Could be a good time to buy if you believe the outlook at Talisman is positive.. however I'll be holding and cautiously waiting and 'keeping my fingers crossed' between now and the end of August when the next quarterly report is due.

Cheers
BP:)

As always DYOR.

[Jess9]

Traders again today ?? Perking up. Hopefully pre-cursor to good news...fingers double crossed!

[Ponda]

Hi Jess,
It was good to see that 2.1 Bid sit there for a couple of days when the SP was at 2. Nobody was prepared to sell at 2.1 and then today we have a couple go thru at 2.2.

My fingers are crossed as well but as I have always said this one is my retirement fund.

[Jess9]

Me too, but I'd rather not be 60+ when it arrives : )

[Jess9]

Supporting a move upwards soon...OBV carries on in upwards in positive territory. My understanding is basically this means accumulation occurring and is often an early "buy" indicator (OBV has been negative for past 2 years or so). RSI also strengthening. I think a close above 2.5c AUS on good volume would mark a decisive trend change. Hopefully the chart signals to date are accurate preceding flags : )

[elZorro]

I'm new to this thread and don't hold HGD shares, but I see similarities with GEL, a more recent gold prospector. HGD shares look a bit slow to move, and at their SP both companies are ripe for some interest from bigger players, maybe in collaboration. In fact HGD's website (which looks a bit out of date) refers obliquely to the high-tech drone geoinformation survey commissioned by GEL nearby, not that long ago.

I guess a move in SP from 2c to 3c would be unnoticed by many outsiders (compare to GEL at the moment), and would still place the company's value at a few million, but how do you value companies like this, with little or no income at present, their IP and prospecting areas being their main asset?

-elZorro-

[Jess9]

and therein lies the fun. The market decides. 2.2c Friday, Monday onwards...?

That helpfulness said ; ) it has spiked to 10c on good news in past. Future movements will be driven by significant announcements around mining permits and JV or other arrangements to start mining talisman. This is said to be coming... 10 + is quite possible on the right combo of news. The ongoing and somewhat challenging question to investors is when will this eventuate. As noted above, early market signals look positive for a change of some sort soon!

[elZorro]

Thanks for the explanation Jess9, I see what you mean about the permit being overdue for a decision from MED. I did find it a bit tough finding any press releases for HGD over the last few months or so. Think I'll keep a good eye on this stock though.

-elZorro-

[Tanger]

Must be time for another quarterly activity report on Friday. Given they said they were in discussions with two potential JV partners who were undertaking due diligence during the last quarterly report, some update on this would be good. They might also have to revise their timeline for the permit application, as this seems to be taking a lot longer than expected as well, although, I suspect this might also be tied in with any potential JV partner coming on board. Fingers crossed for something meaningful (and positive) being announced on Friday.

[Jess9]

Hi Tanger. I emailed the coy seeking an update announcement be made to nzx (if there is anything to say). Be nice to know where things are at now. Application should be pending, one way or another.

[Cannibal]

QUARTER: HGD: Quarterly Activities Report to 30 June 2009
30 Jul 2009 3:48 pm

HGD 30/07/2009 QUARTER

REL: 1548 HRS Heritage Gold NZ Limited

QUARTER: HGD: Quarterly Activities Report to 30 June 2009

FOR PUBLIC RELEASE

Quarterly Activities Report to 30 June 2009

Heritage Gold is pleased to present its quarterly report for the period ended 30 June 2009.

Highlights:

- Joint Venture Discussions Continuing - Drilling Results Encouraging at Thackaringa - MPA Progressing for Talisman - Trial Seismic Survey at Golden Valley Positive

KARANGAHAKE GOLD EXPLORATION - Coromandel, NZ (Heritage 100%) Talisman and Dominion Knoll Joint Venture Several parties who have expressed interest in the project are reviewing the digital data and assessing the geology, drilling results and drill core in the field.

Negotiations are progressing with the objective of finalising a joint venture over the project area.

Mining Permit Application The Company's application for a Mining Permit over its Talisman and Dominion Knoll exploration permits is being processed by Crown Minerals Group (CMG).

Heritage has provided further details of its mining proposal for the amalgamated Talisman and Dominion Knoll permits to CMG and met with the CMG Technical Group, who are now reviewing the data.

The Company has current access arrangements in place for the two permits with the Department of Conservation.

Rahu Heritage has reviewed all drill core it holds for the project, which dates from programmes over a 20 year period. This has shown inconsistencies between historical and recent geological logging.

Relogging of some 4,300 metres of core by one geologist will be peer reviewed to ensure consistency of interpretation across the property and should be completed in the September quarter.

This exercise aims to achieve consistency across the database which will provide more reliable data for a structural analysis of the property and guide subsequent drilling.

The results of this programme will be integrated with other structural, geophysical, geochemical and hydrothermal alteration data to develop a more robust 3D model for focussed drill targeting of higher grade gold zones at depth.

The Company has also undertaken Quality Assurance/Quality Control (QAQC) analysis of recent drill programmes. It shows that the results were statistically acceptable and within internationally accepted industry standards.

WAIHI GOLD EXPLORATION - Coromandel, NZ (Heritage 100%)

Golden Valley A seismic geophysical survey was trialled over a previously identified prospective geochemical and structural target. The survey was designed to determine the nature and depth of the barren cover rocks that blanket prospective underlying andesite rocks, known to host the nearby gold deposits at Waihi.

The trial successfully revealed evidence of the basement topography and depth of barren cover over the andesitic rock units, proving that this technique will aid in targetting and drill hole design.

The Company is also considering a soil sampling programme over a highly prospective alteration zone identified by the recent aeromagnetic survey. The advantage of the proposed new methodology is its ability to identify mineralisation under deep barren cover.

Targets identified from the proposed soil sampling and the magnetic data will be ranked for prospectivity. The highest-ranking targets will undergo seismic surveying to determine the depth of cover prior to drill testing.

Upgrading of the digital database continued during the quarter.

GOLD AND BASE METALS PROJECT - Northland, NZ (Heritage 100%)

Planning for an airborne geophysical survey of permits in the Northland region that are held by Northland Minerals Ltd (a wholly-owned subsidiary) continued, with information on costs and technical specifications being evaluated.

Data compilation, geological mapping and geochemical sampling of the permits have been carried out previously by Heritage. The preliminary work has confirmed the prospective nature of the Northland region and has given Heritage areas on which to focus future exploration.

BROKEN HILL COBALT LIMITED - NSW, AUSTRALIA (Heritage 33%)

At Thackaringa Rotary Air Blast (RAB) drilling of soil covered strike extensions of 4 separate zones of identified sulphide gossans and associated geochemical anomalies for base metals (Cu, Co, Zn, Pb, Ni) and gold involved 239 holes, between 1 and 7 metres in depth.

The results proved extensions of the mapped surface mineralisation beneath shallow soil cover. The drilling also located a new cobalt-bearing zone, open to the north and at depth, at Pyrite Hill South.

The new data is currently being digitised into a GIS format which will allow it to be merged with results of previous work and interpreted. This will enable the development of a 3D model for the various types of mineralisation and will allow a more focused approach to future exploration.

About Heritage Gold

Heritage Gold (NZ) Limited is a leading New Zealand, dual listed (NZSX: HGD, ASX: HTM) minerals exploration company with a portfolio of high quality gold and base metal tenements in Australia and New Zealand.

Its gold tenements in the southern Coromandel region of New Zealand include the historic Talisman Mine at Karangahake which produced over 1 million oz of gold and 3 million oz of silver during its peak mining period.

Heritage Gold owns 33 percent of Broken Hill Cobalt Ltd ('BHCL'), which is planning to develop a cobalt project at Thackaringa in New South Wales. BHCL holds tenements about 25km south west of Broken Hill, which host Broken Hill style base metal occurrences.

To learn more about our company please explore www.heritagegold.co.nz End CA:00182925 For:HGD Type:QUARTER Time:2009-07-30:15:48:53

[JBmurc]

Any report on Cash on hand must be getting low...going to have to raise or sell something soon.

[KS]

Quarterly Cashflow Report posted on ASX:
Cash at end of quarter ($NZ) 657,893 - at end of previous quarter $807,114.
At current rate of spending, cash should last one year.
Perhaps the 35.8M options will be in the money by conversion date?

[BAPP]

Quarterly Cashflow Report posted on ASX:
Cash at end of quarter ($NZ) 657,893 - at end of previous quarter $807,114.
At current rate of spending, cash should last one year.
Perhaps the 35.8M options will be in the money by conversion date?

Yep, the next quarter could very important for HGD and all the patient shareholders. A successful uptake of the November options would be very nice.

Counting down the days now:)... with fingers crossed.

Cheers
BP

[STRAT]

Supporting a move upwards soon...OBV carries on in upwards in positive territory. My understanding is basically this means accumulation occurring and is often an early "buy" indicator (OBV has been negative for past 2 years or so). RSI also strengthening. I think a close above 2.5c AUS on good volume would mark a decisive trend change. Hopefully the chart signals to date are accurate preceding flags : )Hi Jess,
Are you still holding ITC?

anyway, had a look at the HTM chart and that rise in OBV looks like a distortion to me. Big jump on the 12th May on 3 mill volume with no price change :confused: Off market trade or something perhaps?

Trading still too patchy to draw any solid conclusions I reckon but
RSI has been falling since 12th June

[STRAT]

Was it something I said? :eek:

very quiet in here...

[Jess9]

Hi Strat. Still hold ITC.

HGD: I thought we would have had more action/news after that OBV spike. Latest Quarterly says that finalising a JV is the target, but what distance? It been quiet alright... but hopefully alot of fruitfull discussion in the board room.

[Odd Fellow]

No this is interesting News:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10428467
We are now going for Uranium, wonder what this will do now to the SP.

[Balance]

No this is interesting News:
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10428467
We are now going for Uranium, wonder what this will do now to the SP.

Just confirmation to me that there's no real gold upside with HGD - just keep the spin going and the punters keep pouring money in.

No uranium, let's try cobalt next.

Maybe, diamonds?

[Odd Fellow]

Ooops,
I have missed the date, :confused:
I did not noticed it, my excuse is, it has been
1 o'clock in the morning.

[JBmurc]

Just confirmation to me that there's no real gold upside with HGD - just keep the spin going and the punters keep pouring money in.

No uranium, let's try cobalt next.

Maybe, diamonds?

Yeah not good glad to be out of HGD

[Tanger]

Someone bailing out of HGD on the NZ market this morning. I checked the crown minerals website, but still no news there.

[elZorro]

Those gold/quartz seams must be just about jumping out of the mine walls, waiting for Crown Minerals to pull finger and approve HGD's mining permit.

CM's website Still (http://data.crownminerals.govt.nz/PermitWebMaps/StaticReport.aspx?application=51326) has the status as "Submitted"

I wonder how the JV dealings are proceding? Maybe an email or phone call to HGD is in order (again).

Anyways, this should wake up ST's extended family thread.

Hello Yankiwi,

(See you have some GEL again, good..)

I agree with you on HGD, will be watching this one closely (has dropped a big %age and could recover that fast). And a nice cheap share at the moment IMHO.

[Jess9]

No argument here...still, all hinges on that elusive JV/funding for the mine developement. That in place equals permit and hopefully a re-rate of the price - virtually overnight.

DISCL hold options HGDOB and HTMOA.

[Balance]

Mining stocks have tended to be 'insiders' buying in and out. SP action says mine permit will not be granted. Also, no JV partner.

[Jess9]

http://uk.reuters.com/article/idUKN0240998920090902?rpc=401&

If gold gets off and up... well can only be positive for a deal to be signed.

[Balance]

http://uk.reuters.com/article/idUKN0240998920090902?rpc=401&

If gold gets off and up... well can only be positive for a deal to be signed.

You are assuming that there's actually gold there? The big players are not mugs - a JV would have been signed a while ago or insiders would have bought up the company a while ago if the gold is really there?

[ScrappyO]

You are assuming that there's actually gold there? The big players are not mugs - a JV would have been signed a while ago or insiders would have bought up the company a while ago if the gold is really there?

so 205k resource is not there.... cmon slow down on your bs

[Balance]

Just wait till the bidding starts Balance. You'll be :eek: and we'll be :D

HGD is a sleeping multi bagger just waiting to be awoken. :cool:

Big yawn. Management keep enjoying the good life pushing the gold reserves story and you guys are buying. The big players are not, get it?

[Greenfield]

No volume for a inside trader to trade.

I think the JV is reliant upon the mining permit and the mining permit needs more details on a JV, thus the hold up.

[miner]

Has Atkinson ever shown any production-money out of the talisman to you shareholders ?.

Cheers
Miner

[Jess9]

Ok I'll bite ; )

The gold IMO is there. The issue is around its extraction (being under DOC land) and funding of this. The Board also need to get into deal making mode. I think there has been movement in this from Trent's input. Hoping they're still on that path. Its a punt because of these things BUT that is discounted into the entry price. Upside could be worthwhile, especially if the gold price gets legs next.

[miner]

Was not a bite question,just wanted to know if he had ?.

Cheers
Miner

[Jess9]

Sorry miner, more for Balance. Not sure if he partipated in past cap raising. That said he still holds a large amount of shares in the coy. His focus has been the geology not a money making bus model. Trent opened a few eyes re that - I think.

[miner]

So thats a no for any money made from bulk sampling etc ???.

Cheers
miner

[Jess9]

Yes. No cash made to date. But that said I understand that there is old ore outside of the mine that could be processed for cash quickly. $20-50K from memory.

[miner]

Ta jess9,there are a few VERY nice pockets of ore in there,but as have said doing anything with it is another story,and Atkinson has missed his true calling in life as he should have been a mushroom farmer,as all you have to do to grow good mushrooms in feed them bullsh*t and keep them in the dark,good luck anyway.

cheers
miner

[Jess9]

I had an opportunity with a few other interested holders to go through the Talisman. Trent guided the tour. He was very excited about certain untapped vein. While he was coy about it and rightly so (ramping etc) they believe it is a 1m oz target (This is also supported by an independent commissioned pre feasibility scoping study. Coy eyes only...and a bargaining chip for JV negs. A few of us pushed for release, but no go : (

PS gold up again and in the $990's today. 1K crack coming up. Some picking it will blow through this. The wider gold market all perked up yesterday. Minnows will follow if price increase is sustained.

[Balance]

While he was coy about it and rightly so (ramping etc) they believe it is a 1m oz target
.

A mining company concerned about ramping! What next? No more capital raising and good life for the executives?

[Greenfield]

Gold going up nicely, now you just need the NZ dollar to drop to normal.

[etrader]

I had an opportunity with a few other interested holders to go through the Talisman. Trent guided the tour. He was very excited about certain untapped vein. While he was coy about it and rightly so (ramping etc) they believe it is a 1m oz target (This is also supported by an independent commissioned pre feasibility scoping study. Coy eyes only...and a bargaining chip for JV negs. A few of us pushed for release, but no go : (

PS gold up again and in the $990's today. 1K crack coming up. Some picking it will blow through this. The wider gold market all perked up yesterday. Minnows will follow if price increase is sustained.

Yes Jess9: Very well remember the tour that a few of us did, Trents last run with us faithful investors, only shortly after selling out as i see a cashburn which will run out within the next year, options are a no goer as they're way above current.

Some things you just have to move on with and i took it on the chin and have grabbed a 200% return on my hgd shares elsewhere meaning an effective .06c hgd value which will take a long time to obtain if at all.

Well done to the patient few and i do hope for your sake that something does happen but i have been investing since 04 and after 5 years of talk i just got sick of it going no where.

DYOR

[Jess9]

Phaedrus would agree ; ) Come back if/when it shows renewed signs of life are shown (TA wise etc). Yes I have been too "patient".

Wider gold sector looks good and does however seem to be waking up. One point I note is that alot of other goldies have gone up a lot to date , not HGD. Perhaps for good reasons. Were these to change. It could have a quick and sharp catch-up.

I admit forever hopeful on this coy,

J9

[Jess9]

PS nice one on the 200% return.

[Jess9]

GOLD breaks USD 1 K! Will it hold and head higher...

[Jess9]

"The underground drilling programme in 2005 delineated a JORC resource of 205,000 oz gold at a grade of 6.9g/t and 800,000 oz silver at a grade of 27 g/t ." per HGD's web site.

5-10% of the current in ground value is approx 5-9c / share (without the silver value).

What a discount to current market of 2c! That said, I accept the market is right, at least today ; )

[mistymountain]

I wonder when this company is going to go bankrupt?? I said this years ago when their shares where about 4 cents. I now see they are now 1 and a bit.

Those directors doubling their fees have done well to take the cash while it lasts.

Watch for a recapitalizarion diluting existing shareholder value in next 12 months.

At least the BAP threader has gone off this thread to ramp somewhere else...

[Jess9]

Hi mistymountain. You could be right. You have to be an optimist with HGD. Its about what it could be. This is the focus of my comments. For that reason it is a spec play. Risk and return here.

[Jess9]

PS risk of entry and lost opportunity cost could be reduced by watching for some strong buy (TA) signals 1st. I guess you wouldn't get the lowest entry but it keeps you out while it does not go up, and signals the "in" WHEN the trend changes. Best of luck with all your investment choices : )

[Jess9]

PPS as above, remember HGD holds a JORC resource already, not just permits with potential. The mining permit (if granted) would also kick start this into producer status quickly. With gold likely to head through 1K soon and other goldies already having tripled in value since January, timing may be right for HGD to have a catch-up soon. So back to square one...risk and return.

[BAPP]

I wonder when this company is going to go bankrupt?? I said this years ago when their shares where about 4 cents. I now see they are now 1 and a bit.

Those directors doubling their fees have done well to take the cash while it lasts.

Watch for a recapitalizarion diluting existing shareholder value in next 12 months.

At least the BAP threader has gone off this thread to ramp somewhere else...

mistymountain

I'm still around ... just nothing to post as there is no news!

Good to see you have something 'significant' and 'thought provoking' to add to this thread:rolleyes:

BP

[ScrappyO]

Someone wants 1million HTM Shares at 1.6, those who want to bail now is your chance .

Disc Hold to the end

[Balance]

Someone wants 1million HTM Shares at 1.6, those who want to bail now is your chance .

Disc Hold to the end


Oh wow! $16,000 of buying interest! Jump in! Quick! Like buying 475 Newcrest shares.

[GR8DAY]

....cant see any 1m buyer there @ 1.6?? .but plenty of interest above that up to 2c....gosh they must have finally hit pay dirt......i better buy another half mill and bring my average down to about 12c.......ouch that hurt.....did I actually say that ( finally).....must keep looking forward ah Mum.

[Tanger]

My guess is that a few people are taking a punt that there will be some news at the AGM and are trying to get in now at a cheap entry price in case the news is good. The 20 November options at AUS$.08 are fast approaching, and you would suspect that management want to push the share price up a bit to give themselves the best chance of getting people to exercise. Synically, they don't want to sign anything too early (or announce anything) as the price might drift back before the options expire.

[tobo]

you could buy a lot of heads on market before options exercise price becomes a cheaper way to entry.
is it conceivable that some event could see a multibagger increase before November? (Mining Permit, JV, something out of left field)

Still Hold.

[Balance]

you could buy a lot of heads on market before options exercise price becomes a cheaper way to entry.
is it conceivable that some event could see a multibagger increase before November? (Mining Permit, JV, something out of left field)

Still Hold.

Count on another capital raising. Maybe at 1 ct.

[Jess9]

Awesome! Can only be helpful to clinch a deal.

[Balance]

Awesome! Can only be helpful to clinch a deal.

Not if there's no gold down there. You think mining companies are mugs? There must have been dozens of miners through Talisman in the last 5 years.

And? Nothing save a lot of capital raising.

[ScrappyO]

Awesome! Can only be helpful to clinch a deal.

Hope so. I see Newmont in Waihi will be able to cope with more ore if they can get their hands on it.

[ScrappyO]

In the Herald Today

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10597060

[tobo]

from Zeal Research

http://www.thebull.com.au/articles_detail.php?id=5980

long read, but say the ratio of explorers shares to gold price got wacked in 2008 stock panic and that ratio still has some recovering to do (and POG increase will be on top of that)

[miner]

Hope so. I see Newmont in Waihi will be able to cope with more ore if they can get their hands on it.

They can't truck it through the gorge,so there going to get it too newmounts plant in waihi by ?????,an in ground resource is one thing getting it out and turning it into a gold bar another.

Cheers
miner

[Jess9]

Hi Miner. From memory the coy is seeking approval for a processing plant onsite. This may also be slowing down the permit, considering its DOC land. If granted it would solve the gorge problem.

[Jess9]

Hi tobo. Good read. I see RNG shot up today again. After funding arranged and mining scheduled.

[ScrappyO]

They can't truck it through the gorge,so there going to get it too newmounts plant in waihi by ?????,an in ground resource is one thing getting it out and turning it into a gold bar another.

Cheers
miner

We can only speculate...Maybe south Karangahake.
The scoping study should have covered these types of issues. I myself feel confident that Heritage Gold are capable of pulling some sort of JV out of the bag, hence why i hold.

A pure spec play hence the share price.

[Greenfield]

They can't truck it through the gorge,so there going to get it too newmounts plant in waihi by ?????,an in ground resource is one thing getting it out and turning it into a gold bar another.

Cheers
miner

they must have some idea what to do or they would not have applied for a permit

[Crypto Crude]

hey Yankiwi,

I thought,
stuff it... I went out and bought my first holding in HGD today...
only $500 worth...
complete gamble...
...
:cool:
.^sc

[Crypto Crude]

A couple of years ago some of the gang had a punt on Tasman capital,
well I thought id put it into Heritage...
We are counting on a farmin partner, and hopefully that partner will bring us a cash injection, and to mine with us...
Yes, this is the key...
entry just before the AGM...
a firey AGM should awake the punters...

JBMurc,
Im putting money where my mouth is...
we only need one announcement to take it...
See you in CHCH soon...;)....

Anyone looked at the options?
HTMOA...
last seller at .004c...
heads 15c Nov? lol
:cool:
.^sc

[Jess9]

Gold running! USD1,015/oz now. Nice. Sparked up juniors big time. Look at RNG and RSN. If HGD get A into G and announce the right stuff they could follow quick smart rerate. They remain at their smashed down 2008 level. Its a punt, or just watch/wait until the run starts then hope in.

[Jess9]

... and welcome aboard Shewd Crude.

[Jess9]

All gold stocks could be stella performer's if gold heads where some have predicted from here, and in 2009. $1200 gold, $1500 gold? Value of a coy with resource could stack on value quick. Especially if investor sentiment runs with "gold rush" fever. That said it could still nose dive back below $1,000 - as its done to date .

[Oiler]

A couple of years ago some of the gang had a punt on Tasman capital,
well I thought id put it into Heritage...
We are counting on a farmin partner, and hopefully that partner will bring us a cash injection, and to mine with us...
Yes, this is the key...
entry just before the AGM...
a firey AGM should awake the punters...


Anyone looked at the options?
HTMOA...
last seller at .004c...
heads 15c Nov? lol
:cool:
.^sc

Welcome aboard Shrewdy ! As you say... we are counting on a farm in partner. I have to believe/hope there is an anouncement prior or at the AGM. If not :(:( there will be a very firey meeting.

I think the point to remember here is that initially the plan is to set up a small processing plant outside the Talisman mine to process all the tailings from previous mining operations. CASH FLOW

My schekels are on the line and hoping for the GOLD :D

I will be at the AGM and hope to see a few other ST followers there. Yankiwi get your hundy car going and head up to Parnell for the meeting :)

[miner]

"I think the point to remember here is that initially the plan is to set up a small processing plant outside the Talisman mine to process all the tailings from previous mining operations. CASH FLOW"

That made me laugh,someone is pulling your chain boys,there are no tailings outside the talisman because they ran it down ore shoots to the battery WAY down at the creek where the water was to run the plant(used to have some choice old photo's of the ore shoots but cant find them) here is a link to a rough battery map though
http://www.thecoromandel.com/walks_karangahake.html .

Next look up cyanide and the recovery rate,there would be a couple of % they missed in the tailings that long washed down the river anyway,the tailings from when they used mercury are the ones you want as they only recovered about 50% of the gold,less if the water was cold and the ore full of sulphides,hence the kilns to roast it off.

The Victoria battery (same link) was the first in the world to use cyanide,and from then on they all did.

NOT trying to be smart,but do some research guys,DO hope it all works out for you.

A bit from this link http://www.nzetc.org/tm/scholarly/tei-Cyc02Cycl-t1-body1-d1-d63-d37.html

The New Zealand Talisman Gold Mining Company, Ltd. The plant on the company's machine site consists of an ore-breaker of reciprocating jaw type; a revolving ore-drier, capable of treating from forty to fifty tons per day (which is a great improvement on the kiln system of drying); ten head of 850 lb. stamps with single-discharge mortars; ten head of 1000 lb. stamps with double-discharge mortars; two wooden Cyanide vats, each sixteen feet in diameter, and four new Cyanide vats, each twenty-two feet in diameter (into which the pulverised ore is fed by means of a revolving ore-conveyor, thus obviating the necessity for the use of trucks, and greatly reducing the amount of dust in the atmosphere of the building). The tallings, after treatment by the Cyanide Process, rass over amalgamated copper plates for the extraction of the coarser gold, and the blanketings are subsequently treated in berdan pans, of which there are three, four feet in diameter, on the machine site. Water for the driving of the mill is conducted from the dam on the Waitawheta River, first through a short tunnel about ninety feet in length, then through an open cutting twenty feet in length, passing finally into a wrought iron pipe, four feet in diameter and 925 feet in length, which delivers the water into a concrete walled turbinepit, twenty-eight feet in depth. The motive power is generated by two Victor vertical turbines, twenty-one inches and twelve inches in diameter respectively, the latter being used for the operation of a dynamo, generating electric light for the works on the machine and special sites, offices, etc., and for transmitting power for various purposes to the special site. Such pulverised ore as cannot be dealt with by the Cyaniding plant on the machine site is conveyed by covered tram, across the Howe Truss Bridge erected over the Waitawheta River, to the entirely new Cyanide works on the company's special site—an area which had to be utilised owing to the limited size of the machine site. The Cyanide plant on the special site consists of eight wooden vats, each twenty-two feet in diameter, with the usual accessories, including amalgamated copper plates and three four feet berdans. The sumps are substantially built of concrete. The centrifugal and vacuum pumps on this site are driven by an electric motor operated by the dynamo on the machine site. Water for vat-sluicing, etc., is brought to the special site from the Hauraki Creek by means of a pipe three inches in diameter. It is expected that the mill will be able to treat a minimum of twenty-five tons a day, and it is hoped that the stamps will prove equal to as much as thirty tons per day. A No. 5 Krupp ball mill has, since its recent erection, largely increased the output of the works. In addition to the building, machinery and plant, bridge, etc., already referred to, suitable offices and residences for the mine manager (Mr. W. Goldsworthy) and the battery manager (Mr. C. H. Taylor) have been erected since the property was taken over by the new company. The consulting engineers and general managers of the property are Messrs. Bewick, Moreing and Co, of London, and these gentlemen are represented in the Colony by Mr. A. H. Curtis, who is the attorney of the company in New Zealand.

Cheers
Miner

[miner]

The photo above the one with the workers outside the No8 level is the same gully from above and way down the bottom is where the plant was,the ore shoot photo I had on my PC is from the plant back up towards No8 level.

http://www.doc.govt.nz/upload/documents/parks-and-recreation/tracks-and-walks/waikato/karangahake-gorge-brochure.pdf

Cheers
miner

[Jess9]

I know Newmont has been discounted for a lot of reasons...but head office is raising a war chest right now.

http://mineweb.co.za/mineweb/view/mineweb/en/page67?oid=89296&sn=Detail

[Jess9]

A change in focus towards acquisition rather than money (as HGD would not take a lot in the grand scheme) could be helpful about now. Lets have a nice old fashioned bidding war or multi-offer situation ; )

[Jess9]

Thanks for the history miner. All interesting stuff. Added into the mix.

[Jess9]

"$1,000 Gold - Can It Last? - by Frank E. Holmes , Sep 15 2009 3:29PM"

$1,000 Gold - Can It Last?

Gold cracked the $1,000-an-ounce barrier for a second time last week, and the New York spot price is now hovering right around that four-digit mark. The first time this happened, in March 2008, the price plummeted to the low $900s within a couple of days.

No one knows what gold will do this time around, but there are some plausible reasons why the price could stay higher longer.

The first reason is one that we’ve discussed before—we are now in what has historically been gold’s strongest season of the year. September is gold’s best month of the year in terms of month-over-month price appreciation, the key driver being jewelry makers stocking up for holiday buying in Asia, the Middle East and North America. This strength historically lasts until February.

A second reason relates to the weak dollar due to prolonged rock-bottom interest rates and massive deficits being piled up in the U.S. Gold and the dollar typically move in opposite directions, so a weak dollar tends to be good for gold. That inverse relationship is intact so far in September—the DXY dollar index had lost 2 percent of its value through Friday, hitting a 12-month low, and over the same period spot gold has risen about 6 percent.

A third reason is rebounding interest in commodities overall. Prices for copper, zinc and other metals have seen strength recently. This isn’t surprising, given the growing signs of economic recovery and the dollar weakness.

In addition to these factors, Barrick Gold has reportedly purchased more than 2 million ounces of gold and is expected to buy another 3 million ounces to cut its hedge position by more than half.

Many are afraid that a global economic recovery will unleash inflation. Stimulus spending by the Federal Reserve and central banks around the world has added several trillion dollars to the global money supply. This will eventually erode the value of the dollar and other currencies.

There is an opposing fear that all of the stimulus spending won’t be enough to get the global economy out of its sickbed. What happens then? The Fed and others have made it clear that their medicine will be more stimulus spending, which will further devalue paper currencies.

Either way, gold has appeal.

As long as the global economy is transmitting mixed signals, gold stands to benefit as an uncertainty hedge and a store of value. How long the price is in the $1,000 range or higher remains to be seen, but this unusual convergence of factors creates favorable conditions for gold investors.



by Frank Holmes
CEO and Chief Investment Officer
U.S. Global Investors, Inc.

[Crypto Crude]

yankiwi-I'm thinking about heading up for it (3 to 4 hours drive each way) if I can get a warrant sorted for my $500 car. But hey, I bought it 5 years ago, so even if I end up having to replace it a hundy a year isn't bad in my books. :D

BTW Shrewdy - wanna swap your new shares for an excellent old clunker?


Yankiwi,
I do not want your car if it means that you wont be going to the AGM...
I want to hear all about it...
'HOT TIP'...
:D
.^sc

[tobo]

"Gold and the dollar typically move in opposite directions"

Jess, I always find this statement wierd. Because gold is priced in USD:
Of course it is true. If gold stands still in real value, and the dollar drops, then you get more of those dollars for your gold.

Still, it reinforces the fact that (our) gold retains it's value in the face of inflationary dollar.

disc: Hold HGD, but need big upleg to pass go. (My other gold junior has over doubled in the last couple of months - MCO)

[Jess9]

Hi tobo. With the US having printed money gold should rebalance well above $1,000 IMO. There will be the eventual ups and downs along that path.

Agree that HGD has been left behind to date. RNG and RSN are two I also watch, which have done very well recently. RNG at 4 c with a billion shares on issue now. They are going for a 50K pa operation also. If HGD could be in a similar state of "readyness"...with shares of 300M...my few oppies maybe even get some exercise ; ) 8c AUS Looks along way away now. But take RNG for example, the price can move quick on the right news. Adjust for shares and HGD could be on 12c AUS if it could do/offer something similar. Juniors are certainly a spec play.

[Jess9]

Be good to see an investor update type letter out from HGD. ITC did a nice one a few weeks ago. The market has such a short memory and it is the right time to advertise what HGD has and is attempting to do with it. May even get a few other parties interested if the right people hear. IMO alot of medium tiers will be looking to add resource with gold above 1K, and HGD are able to do this...200Kto2MOZ IS WHAT IS THERE (200K) AND PROJECTED (2M) plus a load of silver. Projected financials would also be interesting in any investor letter. Some info from the pre feas study also...

[Balance]

Keep dreaming. Price of gold is at an all time high and HGD sp is lower than even 3 years ago!

If HGD had anything, Newmont or any of the other gold players would have made a play a long time ago. The company would have released plenty of infor to get that sp racing ahead.

Just keep paying those salaries and benefits to the directors and management. Another placement of shares at super cheap prices coming up to keep them in clover.

Meanwhile, other producing gold companies charge ahead.

[moimoi]

Keep dreaming. Price of gold is at an all time high and HGD sp is lower than even 3 years ago!

If HGD had anything, Newmont or any of the other gold players would have made a play a long time ago. The company would have released plenty of infor to get that sp racing ahead.

Just keep paying those salaries and benefits to the directors and management. Another placement of shares at super cheap prices coming up to keep them in clover.

Meanwhile, other producing gold companies charge ahead.

Well said Balance!!...a company that is a case study of truly pathetic performance...as advised the about 180 pages ago, the annual report is simply a cut n paste from around 1997.

The fantisists on this thread could have doubled their money in any number of gold entities such as PNA in the past 6 months.

cheers
Moi

[Balance]

Where's the gold?

The directors say there's plenty and yet they are not buying. You have to laugh.

[STRAT]

If you'd like to do the unheard of and average down Shrewdy :D, someone has placed a half a mil shares into the sell side for 2.2c.

I'm tempted to average up a bit :o

Instances like this make it confusing to me. It's said you should never average down, so therefore shrewdy shouldn't buy more at the moment. Yet my average is .02 so it's ok for me to get some. :rolleyes:

I guess with HGD right now, I'd be ignoring that rule. :cool:Hi Yankiwi
You could say perhaps as a rule of thumb that averaging up or down applies to a trending stock which HGD isnt but 10% either side probably isnt relevant anyway.

[STRAT]

You have to laugh.Geez mate, note to self. Never stand to one side of Balance while he have a knife in his hand :D

[Balance]

Geez mate, note to self. Never stand to one side of Balance while he have a knife in his hand :D

What knife, matey?

I am pointing to the obvious, aren't I? If I am wrong, please correct. Still a happy learner.

[STRAT]

What knife, matey?

I am pointing to the obvious, aren't I? If I am wrong, please correct. Still a happy learner.Hi Balance.
No argument with your reasoning, in fact I have found and believe you to be most astute ( no pun intended ).
Perhaps I should have said boots instead of knife :D but either way your posts often lead me to believe you enjoy putting it in.

If I am wrong, please correct me :D:p

[GR8DAY]

.......maybe bcos it's about the same price???

[GR8DAY]

......for every buyer there's a seller yankiwi......dont get too excited (yet).

[BAPP]

Link to Chairman's address at AGM

http://www.heritagegold.co.nz/newsPDFs/Chairmans%20Address%20250909.pdf

Cheers
BP:)

[Tanger]

I suspect based on the chairmans address that the meeting will be relatively short!!!! Nothing new, presumably nothing more they can say. Looks like they haven't got a JV partner on board, and therefore, short of a large capital raising, they won't get their permitt. Pretty circular, as they probably wont get their permitt until they can demonstrate funding. More delays!!!!!

[Paint it Black]

I've just returned from the AGM - well attended and I thought a good presentation from especially the geologist Jason. They are optimistic the mining permit will be approved before Xmas (09). They confirmed it does not rely on a JV partner in response to my direct question. They expect once the mining permit is approved bells will start ringing with potential JV partners. Also they intend to undertake their own processing - if Newmont offers their processing then that is just a bonus. The concerning aspect was a wait of 1-2 years for a resource consent to be approved. They hope to have a non notified or limited notification process with the new resource friendly government.

[Ponda]

Paint It Black,
Thanks for reporting back.
It seems that the Company is fairly upbeat in the future.
Thanks again

[Balance]

I can see the hands coming out for more $$$$. This is a company with a great future - believe the directors who have not bought one additional share!

[Aotea]

Being in the RMA sector, there is no chance of limited or non-notified pathway...effects greater than minor, not all potentially affected parties are known or can be identified. Fails on both s93 limbs.

[Paint it Black]

Aotea - with the new government the RMA is in for a shake up thank goodness and NZ may be able to make some progress. Hopefully there will be some TA planners looking for a real job soon! HGD is already in discussions with DOC and from what we heard at the AGM today there are evidently no other land owner issues.

[Oiler]

Aotea - with the new government the RMA is in for a shake up thank goodness and NZ may be able to make some progress. Hopefully there will be some TA planners looking for a real job soon! HGD is already in discussions with DOC and from what we heard at the AGM today there are evidently no other land owner issues.

Paint it Black your questions today were very direct and I was pleased to hear the Board answer them head on.

My understanding from todays meeting and chats afterwards is that DOC dont have any issues with the permit. :D

I think the iwi will come out of left field and try to stall the RMA process. Lets hope that is not the case :eek::eek:

I think I will hang in and watch what unfolds ;)

[Paint it Black]

Oiler - you were in the back row I guess also asking some pertinent questions which I believe were also convincingly responded to by the Board. With a JV not needed for the mining permit, DOC unlikely to raise significant objections with the RC, and Newmont's processing being regarded as purely a bonus but not pivotal, I came away with far more optimism that the company has a good control over it's future direction and are pushing things forward as fast as they can.

[Aotea]

Agreed, but the RMA streamline bill wont help this, at best it will allow the process to go through an EPA- still will require full and open consultation...The two limbs of the Act to dictate whether its notified both get through the gateway to make it fully notified, and in fact notified is the defualt, unless it can pass that gateway. If it wasnt, by some cunning stunt, it would be open to challenge by way of judicial review, taking even longer over and above the current challenges..

[Paint it Black]

Aotea - with all this no wonder NZ is regarded as a miner unfriendly country and other countries are streaking past us. Modify the Act then for the greater good of NZ - why should we be bound by so many 'gateways' and risks of judicial reviews - the RMA in it's present form has become NZ's worst non productive industry and has cost the country $ billions of lost opportunity.

[ScrappyO]

Oiler - you were in the back row I guess also asking some pertinent questions which I believe were also convincingly responded to by the Board. With a JV not needed for the mining permit, DOC unlikely to raise significant objections with the RC, and Newmont's processing being regarded as purely a bonus but not pivotal, I came away with far more optimism that the company has a good control over it's future direction and are pushing things forward as fast as they can.

Was there any reason for why it takes so long to process....it seems most of the boxes have been ticked?
Is it just that the process needs to be open for objection for a certain amount of time?

[Paint it Black]

ScrappyO - I was also surprised with 1 year being needed for the non or limited notification route. I suspect with the mining permit taking already 10 months we received a conservative answer. However no doubt the RC application will need to provide alot of detail on access, environmental controls and the processing which will take time to collect. If a JV partner is on board then the future strategy will also need to be agreed. The better the documentation (with affected party sign off's) the more likely notification can be avoided.

[Balance]

Now HGD wants to look at gold ventures in PNG, Chile and Australia. What expertise does HGD bring?

Maybe, the ability to part investors from their cash and funds so that management and directors continue to enjoy playing miners.

[Aotea]

ScrappyO - I was also surprised with 1 year being needed for the non or limited notification route. I suspect with the mining permit taking already 10 months we received a conservative answer. However no doubt the RC application will need to provide alot of detail on access, environmental controls and the processing which will take time to collect. If a JV partner is on board then the future strategy will also need to be agreed. The better the documentation (with affected party sign off's) the more likely notification can be avoided.

I understand for a large permit, six months is to be expected for a MP. The guts is the crown minerals act requires an applicant must demonstrate the means that it can work the resource it has identified. So, while HGD has the resource and its pegs out, they dont have the capital. The permit would have been granted had a JV partner funded it yet, but one wont commit until the permit and red tape is granted. A catch22, hence the delay.

Regarding the RMA, love him or loath him, but Rodney Hide is trying to improve things. But it still will take an age. The act allows so many days to review an application, seek advice, then its notified with 20days to allow submissions, then delays seeking a hearing, then the hearing. Then anytime in the process or after the hearing additional info can be sought taking more time. If you want the process to be improved its a long haul, but to be honest fruitless. Irrespective of whether affected party approvals have been obtained, it will still need to be notified, its just that the effects on those that have signed off cant be considered in the process...the time delay still remains.

I agree with however said the maoris will likely stall the process too...they frequently are looking for something for nothing, a culture that has been allowed and encouraged in the rma..

For the record, I have sold my hgd...hope that clarifies any questions.

[Paint it Black]

Aotea both Oiler and I heard the answer to a direct question at the AGM about whether a HGD require a JV partner to obtain the MP and the answer was no. Either you or HGD are therefore mistaken. It would be a very serious matter for HGD to mislead shareholders this way - can you post any background that supports your position?

[Crypto Crude]

well...
Thank you all for your feedback from todays AGM...
I really do think there could be something big looming in this stock...
Im happily holding given the risk return...
0c or 10c plus...
anyone looking at HTMOA?
I wasnt ballsey enough with such a short time to expiry....

To be straight out with it, we really must get a JV deal with 20 million cash injection, and an experienced operator to help run Talisman...
I mean, realistically Heritage must have this sort of cash injection deal as further placements are not really an option anymore?
or should we be looking to raise debt?

what did they say about that at the AGM?
yes Yankiwi, im looking for a few more HGD, but im thinking of sleeping just dandy with CUE and looking to buy NGE next week...
:cool:
.^sc

[Dusty]

http://www.stuff.co.nz/business/market-data/2903857/Mining-firm-concerned-by-overseas-attitudes

Article regarding HGD trying to gain business partner for Talisman.

[Aotea]

Paint it black, there may be an opportunity for hgd to convince crown minerals by way of adding a condition on their permit that says the permit doesnt take effect unless they have a jv. a minerals programme 2008 which is what cm works under says an applicant must demonstrate a means to extract what they seek. the cm website has the minerals programme to download, so hgd is seeking a significant deviation to the policy, rather than me saying they cannot...

[Paint it Black]

Shrewd Crude - Without ruling it out Geoffey Hill said he was against further placements and dilution of share value. He obviously realises HGD needs more capital and made a point of saying discussion was taking place with Chinese interests and that transformation was needed. A couple of well dressed Chinese gentleman came into the meeting a little late - not that that means much I guess! Maybe some debt raising isn't such a bad idea once the mining permit is in place.