# PUA - Peak Minerals



## exgeo (10 January 2007)

About 400KOz was mined from the Hawkins Hill area (NSW) in the 19th century. Current inferred JORC resource stands at 680Kt @ 6g/t Au for 130 KOz. During assaying gold recoveries have been shown to be around 98% of the gold. A scoping study was announced in the June 2006 quarterly. Mining would be by open pit. All the vein sets are open along strike and some are also open down dip. HEG are exploring for (and finding) extensions and repeats of the mineralisation below and along strike from the historical workings. 400m north of the Hawkins Hill deposit, DD drilling has intersected up to 0.33m @ 17.6 Oz/t (554g/t Au). Other extensions outside the current resource area are in the range 5-70g/t Au. HEG have control of 35km of the Hill End anticline (the host for the previously-mined gold). A mining lease application is being prepared and a new resource estimate is promised for "early" 2007. Directors have been buyers at around the current trading level of 12c.

*11/12/06* drilling below old workings at 320m depth still intersecting gold bearing veins with visible gold noted.


*22/5/06* Grahame Reveleigh buys 25,000 Shares @ 20c and
10,714 options at 8c *($5857).*
*26/6/06* Bruce Thomas buys 260,000 shares at 13.3c *($34,580).*
*30/6/06* Grahame Reveleigh buys 305,000 shares @ 13c and
130,714 options @ 4c *($44,878).*
*4/8/06* Bruce Thomas buys 100,000 shares @ 13c *($13,000).*
*14/11/06* Alfred Paton buys 80,000 shares @ 12c *($9600).*
*12/12/06* Philip Bruce buys 200,000 shares @ 11.7c *($23,400).*
*13/12/06* Philip Bruce buys 105,000 shares @ 12.7c *($13,335).*
*18/12/06* Alfred Paton buys 100,000 shares @ 11.5c *($11,500).*


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## Absolutely (12 January 2007)

Announcement out this morning ;

Sydney - Friday - January 12: (RWE Aust Business News) - Hill End
Gold (ASX;HEG) has new high grade assays from step out diamond drill
holes at Reward, New South Wales, which have extended the strike by 110
metres to 300m.
Assays include 103 grams per tonne gold over 0.3m in the
Phillipson's vein and 34.4g/t over 1m in the Paxton's.
Assays also included 6.87g/t over 0.2m at Steven's and 57.7g/t
over 0.2m at Mica.
Preparation for mining and sampling of the area has commenced.
An updated interpretation and resource estimate for Exhibition
and Cornelian high grade areas and the Reward area will commence over the
next quarter.
The Red Hill resource estimate update and mining lease
application will begin.

Seems like good stuff to me but SP not doing much.


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## dubiousinfo (12 January 2007)

Mkt cap for this with a SP of 13c is around $17mil.

Opies are 15c exercise with an expiry of 31/5/07 currently trading at 2.8c.


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## Absolutely (12 January 2007)

SP should be between 50c and 60c then based on current estimated resource?

They are about to start mining too so going from explorer to producer shortly.


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## YOUNG_TRADER (12 January 2007)

Hi guys 

HEG 132m shares +110m 15c opies

While Mkt cap at 13c =  $17m
*
Mkt Cap at 15c = $36m so be wary of that!* Of course this would assume that the 110m 15c options were all exercised raising $$16.5m in cash so I suppose that it wouldn't be that bad


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## dubiousinfo (15 January 2007)

YOUNG_TRADER said:
			
		

> Hi guys
> 
> HEG 132m shares +110m 15c opies
> 
> ...




YT your right with your valuation but I figured that as they are currenlty valued at $17mil with only 0.5mil in cash. If they get the opies in the money at 15c & they all get exercised, they will be valued at $36mil with $16.5mil in cash. So the ongoing operations are still valued at roughly the same amount.
Plus they would have $16mil to fund further drilling, scoping study & prefeasability. 
With only around 500k in cash left, I'm guessing they really want the funds from the opies & will pull out all stops between now & May with as much news as possible to get the opies in the money.

Just my    DYOR
I hold.


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## dubiousinfo (31 January 2007)

This is finding some support today. Up 16% on 3 times normal volume.

Make that 20%


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## Absolutely (1 February 2007)

You know I do believe the quartley activities report was very encouraging.

The mention of Laos made me sit up. Oxiana really made a name for itself in Laos  . I had some dealings with their Sepon project through my job. If Hill End has the prospect of a Laos entry then I think that could be very beneficial for the company's growth.


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## TheAbyss (12 February 2007)

The Speculator mentioned HEG today stating that they are doing the rounds of the brokers in SYd and Melb with a presentation. The Speculator speculated that HEG wouldnt be on the road without any good news to offer.

Question is do they have good news or are they running out of cash and trying to pump up some interest? Either way there is a chance of some action perhaps.

Their SP seems to be heading upwards.

Article http://bulletin.syd.ninemsn.com.au/article.aspx?id=226883


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## Absolutely (13 February 2007)

Well Speculator says they still have a few dollars in the kitty. But they will also be wanting to ease the price up with the options expiring in May.

So I think they are trying to get some recognition out there that they are on to a fairly decent resource. 

It's been frustrating watching this company report good results and see the gold price remain relatively strong with little effect on their share price.


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## Portfolio (15 February 2007)

Trading Halt here.  Any guesses?? Positive news on any Laos developments would be the best outcome.


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## Absolutely (15 February 2007)

Well it is Laos.

Cool reaction from market however.


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## Portfolio (15 February 2007)

For a market cap of $15 million this stock has a heap of potential.
I'm surprised the stock hasnt rocketted on this news.


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## Absolutely (15 February 2007)

Announcement came very late in the day. Caught me by surprise - wasn't expecting it today.

May see more reaction tomorrow I think.


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## 2020hindsight (15 February 2007)

They stated announcement would be out before Monday 19feb (4 days), then out it came in a few hours.  Masters of suspense.


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## Ang (9 April 2007)

I have come across this stock in my scans, I have it at a break of 18 cents, however i have attached the latest announcemnt regarding options. I am I reading this correct they are giving options for free to exsisting shareholders on a 2 for 1 basis? If that is correct what experience have traders on this forum had with stock that issue options like this?
Kind regards
Ang


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## Ang (9 April 2007)

Anyone with any information regarding my last post?? 
reg ang


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## deftfear (9 April 2007)

Hi Ang, there have been quite a few companies that have done similar things recently, you could have done well trading some, and lost a lot of money trading others. Some reasonable examples would be SHE, USA, CYL...they all dropped a lot on the ex entitlement date but you could have made money out of them also. PXR is one notable one that dropped a lot ex entitlement and anyone trading that one would have lost money I would think. There are other shares that have had options issued recently, but I can't recall them at the moment.


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## Ang (9 April 2007)

deftfear said:


> Hi Ang, there have been quite a few companies that have done similar things recently, you could have done well trading some, and lost a lot of money trading others. Some reasonable examples would be SHE, USA, CYL...they all dropped a lot on the ex entitlement date but you could have made money out of them also. PXR is one notable one that dropped a lot ex entitlement and anyone trading that one would have lost money I would think. There are other shares that have had options issued recently, but I can't recall them at the moment.




thanks for that
kind regards
ang


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## nomore4s (9 April 2007)

Can one of the more expirenced chartist confirm whether this is a cup & handle pattern?
The volume has contracted slightly during the formation of the handle, and looks to be increasing. Probably needs to break above its current sp with good volume to confirm?

I don't hold, I just had a look at the chart and noticed the pattern & for educational purposes thought I would post it to see if I could get some feedback from a more expirenced/capable poster.

Thanks

Ps - Ang, with the oppies, as they have a exercise price of 15c and with the current sp at 17.5c they might be worth looking at but when they do go ex entitlement there is a chance that the sp could drop below this level, you would have to weigh up the companies current value & future prospects. If you think the company is fairly valued or undervalued at current price and can hold this price after ex entitlement date it would be a good deal. IMO it wouldn't be worth buying into the stock purely for the oppies. Good luck.


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## Ang (10 April 2007)

nomore4s said:


> Can one of the more expirenced chartist confirm whether this is a cup & handle pattern?
> The volume has contracted slightly during the formation of the handle, and looks to be increasing. Probably needs to break above its current sp with good volume to confirm?
> 
> I don't hold, I just had a look at the chart and noticed the pattern & for educational purposes thought I would post it to see if I could get some feedback from a more expirenced/capable poster.
> ...




Thanks for the explanation of opies. I have attached my view on the chart it seems it has defenatly formed a Weekly Darvas box at a break of 17.5 cents will see a target of 23 cents. 
Seems to be travelling well today.
Kind reg
ang


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## roland (15 October 2007)

Hill End Gold just took off, good news release regarding increase in Gold resources. I got a few just in case


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## hypnotic (15 October 2007)

Been on these since the free oppies 1 for 2...

Great to see it take off!!!! missed the sell... didn't get a chance to see it at work today. >.<


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## roland (19 October 2007)

Hill End Gold up 12.5% on no news - does anyone have anything on this???? ...................................


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## tigerboi (29 October 2007)

roland said:


> Hill End Gold up 12.5% on no news - does anyone have anything on this???? ...................................




up 21.74% today,expecting news & a big day tomorrow,previous heg posters thoughts on todays volume,YT ??? looks like a cracker of a day tomorrow...


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## roland (30 October 2007)

ho hum, HEG - well what can I say???? I sold at .22  up 35% today already .....................


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## krisbarry (31 October 2007)

HEG has really taken off in a big way, an announcement must be on its way.

Here is a 2 month chart


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## jama_kj (10 December 2007)

Excellent announcement just released about high grade gold results. share price is moving accordingly ..... up 6.5c to 35.5c


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## Go Nuke (3 January 2008)

Anyone still following this stock?

Is it just me or do I see blue skies ahead??:bowser:


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## JTLP (3 January 2008)

Certainly seems to be liked, as you would expect with most gold stocks with recessionary fears.

Why do you see Blue Skies???


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## RedHerring (14 April 2008)

Following day's announcement, HEG is now a producer...



> The first gold pour at the Hill End Project on Friday 11 April 2008 produced a bar of gold bullion weighing 135 ounces.
> 
> The bar contains approximately 93% gold and is part of the production from the north end of the M2 test drive. The 73 tonnes of M2 material processed to date has an estimated recovered grade of 2.3 ounces per tonne




That's 71.5g per tonne. With planned processing up to 40 tonnes per shift we can expect a new bar every other day


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## cookiedude (19 April 2008)

Yep been watching this one for a while… Share price seems to be jumping between 0.32 – 0.35 at the moment.


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## RedHerring (20 April 2008)

Should see a stream of announcements in regards to ramp up of processing plant and production, and resource definition from drilling results thru to options expiry in September 2008. 32c seems to be a consolidating base to build from. As ever DYOR.


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## cookiedude (5 May 2008)

Definitely in a down trend at the moment – share price 27.5 (could present a good buy in opportunity soon). Although I think it still has more to go before it picks up… Any thoughts?


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## tigerboi (5 May 2008)

cookiedude said:


> Definitely in a down trend at the moment – share price 27.5 (could present a good buy in opportunity soon). Although I think it still has more to go before it picks up… Any thoughts?




I got alot of HEG ages ago as my bro in law has been mining there for 40 years...,says HEG have a heap more gold to come from their areas,bottom drawer for me..could be a bear raid in readyness for an anns.?..tb..


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## tigerboi (8 May 2008)

cookiedude said:


> Definitely in a down trend at the moment – share price 27.5 (could present a good buy in opportunity soon). Although I think it still has more to go before it picks up… Any thoughts?




Yeah mate got a stack of these ages ago & today at 0.265 is a very very good price,gonna raid the piggy bank to double my holdings as i have been expecting this drop as the oppies exercise draws closer in september,punters selling the heads to pay for the oppies???

HEG has cash of $12.1m.plus..118,248,514.x. 15c oppies due in september,$17m(approx) due for the oppies...correct?(900,000 odd exercised in the last 1/4)

so come september it will be

360m shares

approx..$25m cash(i stand corrected if im wrong),no debt.

recent first gold pour

additional ground at hargraves

You got a team here that goes about their business,they are getting results with more discoveries every quarter...

Dont forget HEG has the laos project to come so i reckon they are going real well,extra cash will most likely ramp up production & eventually get the company noticed...tb

see the last reports...visible gold...

The Hargraves Exploration Licence (EL6996) is adjacent to the Hill End tenements to the north
and the Big Nugget Hill prospect, which is currently being diamond drilled, is located
approximately 35 kilometres to the north of the town of Hill End.
The Hargraves tenements contain numerous historical production areas and Big Nugget Hill is
the site of Australia’s earliest gold reef mining in 1851, when large pieces of gold in quartz,
containing up to 1,546 ounces, were discovered in quartz vein outcrops. Rich alluvial deposits
were also mined in the nearby Louisa, Daly and Meroo Creeks and many large nuggets were
found, with the ‘King of Waterworn Nuggets’ being the largest at 2,680 ounces of gold.
Previous exploration on the Big Nugget Hill zone of mineralisation has identified strong gold
mineralisation over a strike length of 600 metres by drilling, and over 1,500 metres by surface
sampling. During the quarter there were eleven diamond drill holes completed at Hargraves on
the Big Nugget Hill Anticline (BNHA) for a total of 2,197.5 metres drilled.
The drilling has confirmed that the distribution of gold at BNHA is concentrated along the axis of
the anticline and continues at depth as a series of repeating zones of strong mineralisation up to
20 metres wide and individual dip lengths of 40 to over 80 metres. The zones plunge gently to
the south with a long dimension along strike to be determined but interpreted to be some
hundreds of metres.
The drilling has confirmed at least six zones of which only two have been previously mined to a
depth of approximately 50 metres and the lower four saddle reef complexes have not previously
been observed. The zones are 10 to 40 metres in thickness and approximately 30 to 50 metres
apart down axis on the BNHA, and are comprised of multiple saddle reefs, individually up to 3
metres in thickness, with leg reefs, leader veins and stockworks, all of which have been shown
to contain abundant visible gold.
These mineralised zones may be suitable for bulk mining and indications are that they may be
close to surface below alluvial cover to the north. Drilling is in progress to confirm the continuity
of the zones to the north and south.
Visible gold has also been observed in a similar anticlinal axis position in the Florence Anticline​which is parallel to the BNHA about 50 metres to the east.

Laos project...

The Lak Sao Project application in Laos has made good progress during the quarter and Hill
End Gold has been advised that the Mineral Reconnaissance and Exploration Agreement
application is now being considered at the highest level of the Department of Mining,
Department of Foreign Investment and the Government of Lao PDR.
The Lak Sao Project area of approximately 2,000km2 is located in the Bolikhamxay Province in
Central Laos between the Mekong River and the Vietnam border. The area is approximately
100 kilometres north of the Sepon copper-gold project, operated by Oxiana Limited, in the
Truongson Belt.
Previous prospecting has identified numerous precious and base metal occurrences in outcrop
and in stream sediment dispersion haloes. Controlled artisanal gold mining of a moderate scale
is underway on a small tenement excised from the tenement application.​Hill End Gold have a 51% interest in the Lak Sao Project with Mekong Resources Pty Ltd.


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## cookiedude (19 May 2008)

Hill End Gold up 17.31% today - Maybe announcement coming??????????...................................


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## RedHerring (19 May 2008)

cookiedude said:


> Hill End Gold up 17.31% today - Maybe announcement coming??????????...................................




Announcement expected in regards to most recent gold pour planned for last Friday, 16 May 2008.

Also, HEG has made a development application for a Mining Camp.

Which Bathurst Regional Council has recommended for approval:



> Council has received an application for a Miners Camp, which Council has defined as a boarding house. A boarding house is a permissible landuse within the 2(v) Village Zone.
> 
> The development application should be supported by Council.




DYOR and draw your own conclusions


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## tigerboi (4 June 2008)

*Re:VERY CLEVER MANAGEMENT TEAM AT HILL END*

See todays announcement of the pro rata 1 oppie for 5 shares,to get the hego oppies in early...very clever that move...thank you very much ill cop that sweet.only costs 0.03 per oppie for 25c at 30/9/09...smart move to get all the hegos gone & the newbs are for a year+..

heg got cash & more projects coming their way...tb...been in the bottom drawer for ages,forget i got them sometimes..

dont underestimate this little company asf trendsetters,the team up there at hill end are sitting on a huge amount of gold yet to be found...yet

*PRO RATA ISSUE OF OPTIONS*
*TO SHAREHOLDERS OF HILL END GOLD LIMITED*
The Directors of Hill End Gold Limited today announced a one (1) for five (5) pro rata issue of
new options to eligible shareholders, at $0.03 per option ("New Options").
The issue of the New Options, pursuant to a prospectus to be lodged at the Australian
Securities and Investments Commission, will be to shareholders with registered addresses in
Australia and New Zealand recorded in the respective registers and sub-registers of the
Company on Friday, 20 June 2008, the record date ("Record Date"). The ex-date for
entitlement to the pro rata issue of New Options will be 20 June 2008.
The issue will be partially underwritten, by Bell Potter Securities Limited, to a value of
approximately $1.53 million, being approximately 51.2 million New Options.
Details of the New Options issue are as follows:​
*New Issue ratio: 
*One (1) New Option for every five (5) HEG ordinary shares held on 20
June 2008, the Record Date. Eligible shareholders will be entitled to
apply and pay the amount of $0.03 per New Option based on the
shareholder’s holding of HEG shares at the Record Date, divided by a
factor of five rounded up to the nearest whole number. No fractional
entitlements to New Options will accrue or be allocated. The New Option
Holding Statements are intended to be despatched on or about 17 July
2008.
*Exercise date: *​*
*​*
*Exercise any time up to and including 5.00pm AEST on 30 September
2009.​*Exercise price: *$0.25 per option.
​


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## cookiedude (11 June 2008)

Hello, since I have never traded options can someone provide a quick ran down on what the deal is with HEG and these new options? Say I am eligible for 10,000 options… ?  And I buy at 0.03... What happens then? Thanks.


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## tigerboi (11 June 2008)

*Re:THEY ARE 25C OPPIES AT SEPT.2009*



cookiedude said:


> Hello, since I have never traded options can someone provide a quick ran down on what the deal is with HEG and these new options? Say I am eligible for 10,000 options… ?  And I buy at 0.03... What happens then? Thanks.





Hi mate,if you hold some heg like i do they will send you out a form soon for you to accept & pay...the oppie holders should convert their oppies now so they will be eligible for the new 1/5 at 0.003.

i spoke with management the other day & the laos project is very near about to go ahead..tb


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## RedHerring (20 June 2008)

This might be of interest to any considering whether to exercise their HEGO today - there was an announcement providing EFT details to avoid the need to send a cheque - Record date is today to be eligible for 1-for-5 options rights issue.

Boardroom Radio Interview with CEO Philip Bruce 19 June 2008.


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## RedHerring (20 June 2008)

Key points from follow up Open Briefing on www.corporatefile.com.au to yesterday's Boardroom Radio interview with Philip Bruce.

- Current resource estimates likely to be very conservative, both grade and tonnage likely to be significantly higher.

- Initial processing of 20-30 tonnes of ore per day over single shift, looking operate over extended shifts maximising gold output using high-grade material.

- Increasing processing throughput to 2-3,000 tonnes per month on installation of ball mill.

- Larger scale production will require new development at Red Hill.

- Surface drilling of 1,500m per month since beginning of 2008.

- Re-affirms long term resource potential for Hill End of 5M oz.


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## roostercame1st (26 June 2008)

new to options and curious.
I purchased HEG on 20th June and as I understand it i'm entitled to the options @ 3 cents. Is this correct?


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## RedHerring (28 June 2008)

roostercame1st said:


> new to options and curious.
> I purchased HEG on 20th June and as I understand it i'm entitled to the options @ 3 cents. Is this correct?




Hi rooster

You had to buy on/before 13 June to gain the entitlement to the new options. As per the new options prospectus:

16 June 2008
quoted on an “EX RIGHTS” (XE) basis by the ASX 

20 June 2008
Record Date for determining entitlements

You would have received the prospectus and application form by now if you are entitled to the new options.


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## roostercame1st (30 June 2008)

Thanks for that Herring.
Too bad for me then. Would have been nice to have been able to exercise on them in the next 12 mths.


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## r0ma (18 August 2008)

There was a nice 22% increase today after the announcment broke good news.

hopfully this one will carry on tomorrow.


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## cookiedude (5 September 2008)

Picked up some more today... At this price HEG is a bargain. Further all the news out of HEG recently have been very positive. Wonder when the market is going to notice this one again


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## tigerboi (11 September 2008)

*Re: HEG-further high grade results*

HEG are quietly getting the job done & continue to get massive grades out of there,here is the latest results...
cornelian m2 include hits of,1036,1001,1282,1547,1622,1452,1124 &820g/t

•​​​​Excellent stope sampling results continue in the Cornelian M2 at Hill End.​
•​​​​The second 30 metres of sampling run in the (low grade portion) of the M2 initial
stope averages 31g/t over a 0.8 metre width.​
•​​​​Assays for the M2 vein itself include 1037g/t over the 0.2m vein width, 139g/t over
0.5m and 289g/t over 0.3m.​
•​​​​The 60 metres sampled to date averages 64g/t over 0.8m width.​
•​​​​A further 20 metres of sampling results in the very high grade north end of the
Cornelian M2 are awaited.​
*Cornelian M2 stope sampling results​*Excellent results continue from the initial stope sampling of the Cornelian M2 vein. The next
28 metre long run from 1409N to the north averaged 31.4g/t gold over a 0.8m stoping width,
including 1036.8g/t gold over a 0.2 metre vein width, 139g/t over 0.5m and 289g/t over 0.3m.
The attached detailed list of results to date shows the continuity of the very high grade zones
in the Hill End mineralisation. While the gold is quite coarse, with ~100% liberation at just
under a millimetre size, the gold is well distributed within high grade zones and not spotty like
some other deposits. The more even gold distribution increases the reliability of grade
estimates based on the sampling results.
Results are awaited for the remaining 20 metres of sampling in the very high grade northern​end of the initial Cornelian M2 stope.


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## cookiedude (7 October 2008)

Latest Hill End highlights:

- Amalgamated plant moves to weekly gold pours as production increases.
- A total of 1,700 tonnes processed to date at an average feed grade of 23g/t gold.
- 1,000 ounces of fine gold produced to date.
- Recent gold sales at A$1,075/ounce and current spot gold price at A$1,200/ounce.
- Ball mill installation this week expected to increase throughput and gold recovery.
- Focus of continuing production to be high grade M2 and Paxton’s veinsets.
- Paxton’s 683 level north drive averages 36g/t gold feed grade to date.
- Reward shaft steelwork completed and Alimak being commissioned.


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## tigerboi (12 December 2008)

*Re: HEG-strong today*

good to see some ok trades today also someone keen on the hegob's,maybe the laos project is about to get the go ahead?..tb


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## tigerboi (18 December 2008)

*Re: HEG-still flying under the radar*

Here is the latest from hill end, very astute management  team up there doing it real smart,low cost per oz & making cash,working towards a jorc around easter & they may even acquire another project,not a bad effort in the current climate...tb

*corporatefile.com.au​*Hill End Gold Limited (ASX code: HEG) has significantly increased gold
production from its Hill End Project over the past few weeks. How was this
achieved and what are your recent results?​*MD Philip Bruce​*The production results have been pretty well in line with what we expected
now that we’re into the high grade area. The Paxton’s vein sets that we’ve
developed in the Reward area have been averaging a mined grade of about an
ounce per tonne.
We have been putting that ore through the plant at about 50 tonnes per day
over the last few weeks, which has been a vast improvement. We’ve recently
put a ball mill in and improved the tailings materials handling and both those
have provided a consistent plant throughput.
The underground has also been opened up to the point where it can provide
material to the plant on a more consistent basis from the high grade Paxton’s
area. Both the Reward mine and the plant have come together very well to be
now operating in a semi-continuous production state and the operation is now
profitable, which is important given current market conditions.​*corporatefile.com.au​*You have mentioned the processing of high grade underground ore at Hill End
has increased to an average of 50 tonnes per day since the beginning of
December, on a five day basis. What is planned for the plant over the next few
months? Is there scope to increase production beyond the present target of 100​tonnes per day?

*MD Philip Bruce​*We’re looking to increase the production over time depending on what we have
available from underground and how much we can push the plant. The current
target is 100 tonnes per day, however, our current production of about 50
tonnes per day is on a five day basis with two 10-hour shifts and leaving
weekends available for maintenance.
We’ve still got the further plant optimisation and the current plant design
would probably be limited to producing that 100 tonnes per day. If we were to
increase production beyond this target, we would need to relocate the plant and
look at some larger equipment. That’s not envisaged at the moment, but we
remain focussed on the Reward resource area to determine the scope of the
project and find an appropriate plant size over the next few months. That will
be assisted by underground drilling, which we’ve already started and also by
developing in the upper sections of the Reward shaft.
We’re currently producing from four levels from just opening up Paxton’s. We
may open a higher level on that and also the Steven’s and Frenchman’s zones
further above. We found that between the vein sets and even the vein sets
themselves, are much wider than we anticipated. We will open up the area to
commence drilling and identify the extent of those wider zones.​*corporatefile.com.au​*What additional resource upgrades are expected over the coming months?
How do you expect resources to evolve in your main target areas at Hill End
and Hargraves?​*MD Philip Bruce​*Over the next few months, the Reward area will be the focus for further
development and potential upgrades. We’re looking to drill the areas between
the Paxton’s, Steven’s and Frenchman’s vein sets to determine where the wider
areas of mineralisation are, whether the mineralisation is pervasive throughout
those areas and to identify the size of the resource.
We’re finding zones like Paxton’s to be more continuous and a lot wider than
we thought. Initial estimates for the resources were based on 0.8 metre
minimum width, but Paxton’s has returned up to 7 metres in width and some
areas are demonstrating very high grades. For the moment, our development is
running along the higher grade veins, and we’re putting in cross cuts to open it
up to determine the full width.
We need to develop the Steven’s area higher up in the shaft and complete more
drilling before there is sufficient information for an updated estimate for the
total Reward area resource. However, within Paxton’s in the immediate
vicinity of the Reward Shaft, we expect to delineate an updated resource within
a couple of months. That will be to a higher level of resource reliability than
our current Inferred Resource estimate and it will include the results from the
mining and ore processing from the area. For the larger Reward resource, we
expect it will take a little longer.
The cash flow from production from the Reward area will subsidise the
exploration effort at Hargraves to provide further information for the resource​estimate there.


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## tigerboi (18 December 2008)

*Re: HEG-still flying under the radar*

checkout the red bits not bad for a little company out in the boondocks that never gets noticed...tb


In fact Hargraves could be quite substantial. We’ve already
identified mineralisation extending over 1,000 metres and it’s running at depth
of about 400 metres, which is the extent of our drilling so far. The structure is
in the order of 30-40 metres wide and within that envelope there are a number
of high grade zones. They’ve been identified, but require further drilling. In
addition to the main Hargraves target at Big Nugget Hill, we’ve also identified
parallel zones that we’ve yet to drill. We think we have a big future, but at the
moment we’re just opening up the first zones at Hawkins Hill and Reward.
*corporatefile.com.au*
To what extent do the recent results make you lean towards a larger, lower
grade operation or a smaller, but higher grade commercial operation? What is
the potential size of the operation?
*MD Philip Bruce*
The current market influenced us to move to a smaller high grade commercial
operation at the Reward area because that is more self funding than the larger
scale option. We have been working towards this over the last few months and
we’re now at the point that we have a small, high grade operation. We are
converting the original batch plant to a more continuous processing operation
and increasing the scope of the underground from the initial two levels on the
Paxton’s vein sets to opening up to 10 levels.
The grades that we’re producing out of Reward are averaging around an ounce
per tonne, but have been up to three or four ounces per tonne. I expect
production of 50 tonnes per day will be maintained in the near future, but when
we increase throughput it will provide us with improved productivity and
operating costs and a scale of operation that will be quite profitable.
The next step is identifying the size of the resource that would allow a more
productive operation, but that will require a few months of data gathering.
It’s looking like we can maintain a relatively small but profitable operation,
however, with the recent work on the project, it looks like it would certainly be
productive on a much larger scale and the resource seems to be bigger than
what we had originally anticipated. The contract with Downer EDI will help
us better understand optimisation options and that includes being productive at
a much larger scale if the resource is bigger than what we had originally
anticipated.
*corporatefile.com.au*
Has the recent financial turmoil impacted your business and can you comment
about your funding for exploration, and the next milestone for HEG?
*MD Philip Bruce*
The financial turmoil has really put a spanner in the works for capital funding
in our sector. However, we continue to focus our efforts on making sure the
Reward area is self supporting and generating early cash flows and a profit.
The focus of the Company has been very specifically on making money from
the capital we have put into the Reward project and with little additional capital
required, the Reward project is profitable in its own right.
We’ve been most fortunate compared to most mining companies and certainly
the explorers by having a project that is providing cash flow to keep the project
on track. In fact, it could even generate sufficient funds to consider other
opportunities such as acquisitions as well as the additional exploration I
mentioned at Hargraves and also further development at Reward.
*corporatefile.com.au*
Is your longer term development strategy for the Hill End Project on track?
*MD Philip Bruce*
The Hill End Project is certainly on track. We’ve achieved all that we said we
would. We said we would initially undertake a bulk sampling exercise, but
during preparations for that we saw that the zones were more continuous,
higher grade and more extensive than we initially envisaged. So we moved
directly into a continuous, small scale operation at Reward and we’re probably
a little advanced of where we said we would be.
The overall development strategy for the Hill End Project is to expand
production and resources from the Hawkins Hill – Reward area. However, I
expect that the Hargraves area will become a large scale operation in terms of
the size of resource envelope that we’ve already identified, indicating that it’s
going to be long life, bulk tonnage project, with a relatively low grade in the
order of 4-5 grams per tonne instead of 20 – 30 grams per tonne currently from
Paxton’s.
*corporatefile.com.au*
Thank you Philip.


----------



## cookiedude (18 December 2008)

Yep. Definitely one to watch over the next few months… I have increased my holdings in this company recently (tempted to increase further) - If gold continues on its trend up we should be seeing lot more positive news out of HEG.


----------



## tigerboi (30 December 2008)

*Re: HEG-up 15%*

you watching this cookie?up 15% on the good lift in gold...the team up there is looking to double the output combined with a resource figure by easter time,expected to be around 4moz...maybe just maybe the market will have a look at heg...tb


----------



## tigerboi (2 February 2009)

*Re: HEG-story at www.stockgumshoe.com*

cookie you seen this?...HEG gets a gig on a us stock site...tb
http://www.stockgumshoe.com/2009/01...ndoned-mine-chuck-de-castro.html#comment-7631

estimated worth of gold...$5b...thats billion,4-5moz...from mr bruce...


----------



## cookiedude (13 February 2009)

Good article tb. SP seems to be stuck between 0.16 - 0.18 at the moment... Need a stimulus of some sort to get the market excited again


----------



## tigerboi (14 February 2009)

*Re: HEG-5M OZ OF GOLD GOLD GOLD*

Well cookie i will be doing my bit as ill be paying up my HEGOB come september whether they are in the money or not,i believe the team up there have got the nous to get HEG into the big time in the years to come.

im patient & prepared to wait a long time to see them get the job done.

HEG are now on 24/7 & the big daddy is once they start up on the hargreaves deposit,dont forget mr bruce's estimate of 5m oz is conservative at best,costs are getting lower & gold going higher.all good...TB


----------



## electronicmaster (16 February 2009)

*Re: HEG-5M OZ OF GOLD GOLD GOLD*

Yea, good reports coming along from HEG.   Even (planing on) producing and selling bullion bars too.  Nice

All they need is market attention it seems.


----------



## Sean K (16 February 2009)

*Re: HEG-5M OZ OF GOLD GOLD GOLD*



tigerboi said:


> HEG are now on 24/7 & the big daddy is once they start up on the hargreaves deposit,dont forget mr bruce's estimate of 5m oz is conservative at best,costs are getting lower & gold going higher.all good...TB



tb, can you please post a link to that 5m estimate. They seem to only have about 100k oz au mostly inferred at present as my memory serves me, and I've never seen a 5m projection. I recall 1m or so I think...

Cheers

edit: ah, found a comment in a presentation about 5m potential, but there's no detail on how he's come to that. Better trust the CEO I suppose.


----------



## tigerboi (17 February 2009)

*Re: HEG: take a captain cook of this nugget*

Here is my link the biggest nugget ever found anywhere,anytime i get any doubts i go have a look at this whopper.630lbs

mr bruce says theres 5moz potential up there so thats good enough for me
plus my bro in law has been digging gold up there since the 70's & he reckons
5moz is a given.


----------



## prawn_86 (17 February 2009)

So in other words you have nothing but rumours?

When did Mr Bruce say that, in what announcement or media outlet??


----------



## Sean K (17 February 2009)

prawn_86 said:


> So in other words you have nothing but rumours?
> 
> When did Mr Bruce say that, in what announcement or media outlet??



It's actually in the front of one of their presentations, but there's no detail as to how he's going to get there from the 100K or so they have at the moment. I assume to get away with it, he's extrapolating a current resource along potential strike. Obviously the problem with this is that the overall ounces are caught among various veins and there's absolutely no guarantee that they will be replicated, like the nice size nugget above. I reckon it's 98.7% guaranteed that there's more of those there.

I like tb's depth of analysis here, and I'm going along with him 100%. I don't give a hoot how the CEO came up with that figure, I believe him. And, since tb's brother in law is up there digging for gold, that makes it an absolute no brainer to me. 

I'm backing up the truck with the margin loan on this one!!!


----------



## tigerboi (17 February 2009)

kennas said:


> I'm backing up the truck with the margin loan on this one!!!




Why would you get a margin loan? arent you going to use the $50,000 you made on DMM!!!

do your own research


----------



## electronicmaster (17 February 2009)

kennas said:


> I'm backing up the truck with the margin loan on this one!!!




After doing my research on HEG, I have been backing up the truck since last week. 

yeeeaaaa haaaaawwwww

I'm staying long on this one 


PS: Sorry for sounding like a cow boy there.


----------



## Sean K (17 February 2009)

In all seriousness, I think the 5m oz au target needs to be considered much more closely. There really is no detailed justification that I can find for this target other than a one liner from the CEO in a presentation. I think anyone researching this should try and find how he's come to the number themselves, and if you can't understand how he's got it, it might as well be ignored. ASF members do like to do their own research, but also present research for others to follow and learn from. Just because it's on a presentation somewhere, or someone's brother in law says it's good, really doesn't cut it here. And finishing a post with DYOR does not absolve you from posting in line with ASF posting guidelines and code of conduct. Looking forward to seeing some real analysis appearing somewhere down the line. Cheers.


----------



## Uncle Festivus (17 February 2009)

I own some so I can buy the Hill End coins from them at the front gate. I think they are going about it the right way though, unlike BDG (who by the way are looking like they will come good finally) who got the money first & then decided to see how much gold there was. Slow & steady, and surprising to the upside? Market cap is only $50M.


----------



## cookiedude (23 February 2009)

Latest from HEG:

- Hill End plant throughput doubles to average 70 tonnes per day.
- Stope production starts from first Paxton’s stoping block of 3,000 tonnes at 45g/t gold.
- Mining and processing moves to production status.
- Development continues to open Paxton’s and commences Frenchman’s access.
- Recent gold pour bars 20 and 21 containing approximately 270 ounces sourced from 1,042 tonnes of mostly low grade material at nominal 8g/t feed grade.
- Plant gold recovery continues at over 95%.


----------



## solomon (23 February 2009)

I've bought in to HEG in the last few days.

Does anyone have a comment on the large holder who keeps slowly upping their %, last report they were at about 19.35% ?


----------



## tigerboi (25 February 2009)

solomon said:


> I've bought in to HEG in the last few days.
> 
> Does anyone have a comment on the large holder who keeps slowly upping their %, last report they were at about 19.35% ?




I believe brian elboz is a property developer up at hervey bay from canada,not alot of info available on them other than they keep buying.

doubled their gold production in the latest report so things are looking pretty good with gold set to go back over the $1,000 mark

check out this report on HEG...TB

http://www.buysellsignals.net/BuySellSignals/report/Australia/Stock/PDF/Daily/Australia_pdf_1013.pdf


----------



## solomon (2 March 2009)

Go HEG!

I was pleased to see HEG go well today along with the other goldies.

Property developer as a large share holder sounds a bit worrying, what if a development comes unstuck or something he might need to sell his HEG quickly.

Is there any way we can find out if Mr Elboz is in good financial shape, I don't want to be in with someone who might be forced to sell!

Apart from this small issue I'm pretty happy with HEG and am looking forward to them going ballastic when gold next smashes through $1000.


----------



## electronicmaster (2 March 2009)

solomon said:


> Go HEG!
> 
> I was pleased to see HEG go well today along with the other goldies.
> 
> ...




Investing in HEG is better than investing in the USA markets.  So that's a promising move.  Although that still does not answer your question however.


----------



## solomon (5 March 2009)

There is a bit of a shake out of weak holders at the moment nervous that we will see a big selloff in the POG like last time we hit $1000. I admit I'm a little nervous, but if it holds above 880 I'm staying strong. What do others think?


----------



## electronicmaster (5 March 2009)

solomon said:


> There is a bit of a shake out of weak holders at the moment nervous that we will see a big selloff in the POG like last time we hit $1000. I admit I'm a little nervous, but if it holds above 880 I'm staying strong. What do others think?




This is a bear market.  Go by the Bear market rules.  

This crises is only just started.   

Fear is is in the air.  Let the sheeple flee.


----------



## cookiedude (21 April 2009)

mmmm..... "one ounce 99.99% Hill End gold investment bars" - might use the stimulus cash from Kevin to get me one of these


----------



## Uncle Festivus (21 April 2009)

Put me down for some of those, although a 10oz would be nice  



> The Directors of Hill End Gold Limited wish to advise that the Company has made one ounce
> 99.99% gold investment bars from the gold produced at Hill End for sale to shareholders.  The bars
> are stamped “Hill End Gold” and accredited for content and purity by Australian Bullion Company
> (NSW) Pty Ltd (ACN 002 858 602) and the initial run of 500 bars will be numbered and boxed.
> ...


----------



## solomon (22 May 2009)

Well I have hung in there with HEG and today has seen a really nice close at 19c. There has been what seems like some good news recently (I find it hard to make sense of the mine and the levels but any strike at over 400g/t even if short sounds great. So lets hope the gold price breaks out and HEG along with it.


----------



## tigerboi (2 July 2009)

*Re: HEG-$2.65m placement to chinese investors.SSI*

HEG recently did a placement to chinese investors sino investment services for 5% of share issue...hargraves drilling is now taken care of.

check them out...http://www.sino.com.au/


The Directors of Hill End Gold Limited (“Hill End’) are pleased to announce that they have
undertaken an excluded offer placement of 15.61 million fully paid shares at an issue price of 17
cents per share to raise $2.65 million, before the costs of the issue, which is managed by Sino
Investment Services Pty Ltd.
The funds secured will be applied towards an aggressive drilling program at the Company’s highly
prospective Hargraves BNH deposit and the extension of resources at the Reward Gold Mine at Hill
End. The first assay results from the underground drilling at Reward are expected in the next few​
weeks and the drilling program at Hargraves will commence in July.


----------



## Sean K (2 July 2009)

Happy with the discount to the price over the past 30 days TB?

Maybe the negotiations were being made a couple of months ago?

I suppose it's good they get some cash in the bank.

I do wonder though when companies have to make such a donation. Sign of the days perhaps.


----------



## tigerboi (3 July 2009)

*Re: HEG-yes very happy thank you,hi to sino*

yep im very happy with the deal at 17c i think its a potential company maker with the hargraves resource taken care of in regards to drilling costs,the discount of 3c is not a concern,the fact that chinese investors are prepared to put their money in HEG is what i see as a real good sign.

put this way the deal puts it all over your mob DMM  giving their company away,lets see what comes out of hargraves...stay tuned...TB

hargraves drilling program

A major drilling program of approximately 12,000 metres is planned to commence at the
Hargraves gold project, which is located 35 kilometres north of Hill End in New South Wales.
The next stage of drilling on the Big Nugget Hill structure will be approximately 6,000 metres
of combined diamond and reverse circulation drilling to cover approximately 1,500 metres of
strike length of the wide, mineralised BNH structure to the south of the previous program.
The BNH structure is over four kilometres in length, although only the central part of 1,500
metres strike has been mapped and partially drilled by Hill End Gold and previous explorers.
The target scope for the Hargraves project is over 10 million tonnes at 4‐5g/t gold.
This 6,000 metre program is designed to test the BNH structure over 500 metres of strike to
a depth of 150 metres or more on 25 metre sections and scout drilling for a further 1,000
metres to the south on 100 metre sections. The close spaced drilling is beneath outcropping
mineralisation and some high grade workings, such as the ‘Hill End’ shaft area. Mining in the
‘Hill End’ shaft was suspended in 1915, although ore from the bottom 50 metre level was
reported as containing fifteen ounces per tonne and in 1989 a two tonne bulk sample was
mined from this same level with the material reported to contain more than five ounces per
tonne, however previous explorers have not followed up with drilling beneath the workings.
Hargraves is the site of Australia’s earliest gold reef mining in 1851, when large pieces of
gold in quartz, containing up to 1,546 ounces, were discovered in quartz vein outcrops at Big
Nugget Hill. Rich alluvial deposits were also mined adjacent to the BNH deposit and many​large nuggets were found up to 2,800 ounces of gold.


----------



## Sean K (3 July 2009)

Just a 20% discount from the average price last 30 days or so, so not too bad.

I haven't owned DMM for some time, no emotion there, or here. 

Odd that they're harping on about that one off gold nugget. As has been proven at Bendigo and Ballarat, nuggets do not make a mine.

Since you know all about this company TB, can you please let us know how they have concluded 4-5m oz au potential? Based on?

Also, please clarrify how they are going to ramp up Hill End to 40-50m oz pa by 2010, when they are currently producing 2k a qtr ramping up to 4k a qtr. 

Also, they are claiming that they will start up Hillgrove at 200mt pa by 2010, with expansion potential to 150k oz au production, when their stated total exploration potential is about 100k au. They don't even have a resource outlined yet! How are they going to start mining in 6 or so months? 

This company has swiss cheese written all over it.


----------



## tigerboi (3 July 2009)

*Re: HEG-new $2.9m placement*

Are you talking about the $2.6m placement on 24th june or the latest $2.9m placement announced today?...tb

ha ha its tough being flushed with cash

dyor


----------



## prawn_86 (3 July 2009)

*Re: HEG-new $2.9m placement*



tigerboi said:


> ha ha its tough being flushed with cash
> 
> dyor




Flush with cash and diluting standard shareholders...

I would like an answer to kennas' questions also, not just 'dyor'


----------



## Sean K (3 July 2009)

*Re: HEG-new $2.9m placement*



prawn_86 said:


> Flush with cash and diluting standard shareholders...
> 
> I would like an answer to kennas' questions also, not just 'dyor'



Yes, and who does a capital raising each month. I suppose we should expect another one in August.  

No answers expected from the questions Prawn. The company probably couldn't even provide them. Could warrant a letter to ASIC I think. If I get time away from doing nothing I might pursue it.


----------



## tigerboi (3 July 2009)

*Re: HEG-see the presentation 14th may*

The investor presentation of 14th of may will set you straight in regards to production increases.

here is part of the presentation

*Build resource base and gold production​Hill End Gold Project – Project potential of 4-5 million ounces
Hill End​*​​​​​​​​​Project production increasing to ~2,000 tonnes per month at +15g/t gold​
​​​​​​​​​Development and drilling is extending resources.Project potential expansion to 40 – 50,000 ounces per year during 2010.​
*Hargraves​*​​​​Numerous zones of gold mineralisation under old workings in 5km x 10km zone.​
​​​​​​​​​Big Nugget Hill project potential scope of 10mt at 4g/t in 40m wide structure.​
​​​​​​​​​First stage production start up planned during 2010 at ~200,000 tonnes per year.​
Expansion potential to 150,000 ounces per year.


----------



## prawn_86 (3 July 2009)

SOunds to me as though they are doing a Monarch, and just starting mining without actually knowing whats underneath them. We all know how that usually ends...


----------



## Sean K (3 July 2009)

*Re: HEG-see the presentation 14th may*



tigerboi said:


> The investor presentation of 14th of may will set you straight in regards to production increases.
> 
> here is part of the presentation



Good to see you've done your research TB. 

You're just accepting this as fact with no background check? 

Have you checked to see how they've come to this conclusion?

Please, this is your baby, show us the figures behind this.

Really looking forward to it.


----------



## tigerboi (3 July 2009)

*Re: HEG-raised $5.5m about 7% new shares*

Weve been through this before when i rang phillip bruce,i dont ring him every time a presentation comes out,i like many take these at face value.if you read the presentation it says potential.

now as for dilution 1st placement i got wrong it wasnt 5% of capital it was about 2%,15.61m of 307m shares to about 322m for $2.65m at 17c

latest is abit over 17m shares at 17c for $2.9m at around 5.25% of capital,

total raised $5.5m
shares from 307m to 339m approx
about 7.19% dilution approx all up about 10%

all within the 15% a year


----------



## Sean K (3 July 2009)

*Re: HEG-raised $5.5m about 7% new shares*



tigerboi said:


> Weve been through this before when i rang phillip bruce,i dont ring him every time a presentation comes out,i like many take these at face value.if you read the presentation it says potential.



Well, I suggest you DYOR TB! Just like everyone else. Seems there is no foundation for the 4-5m oz au, and 150m oz au pa potential if even you can't substantiate it. 

I am eagerly awaiting some justification for the numbers, that you are banking on. 

I will be very happy to be corrected that these guys might be able to do better than dragging up 2K oz per quarter and up to 4K, maybe.


----------



## derty (3 July 2009)

I guess time will tell us if this is all just a bit of hot air. Just to address a couple of points, in no particular order at all;

When you are targeting you generally give a target a size and when that target has only one or two holes in it, or even better is conceptual, you can be pretty optimistic with your 'target' size. Any estimated target size must be considered a fictional best-case scenario, especially if you have not been involved directly with the target development process. 

The fact that there has been some Chinese investment is all and good but at the moment there is a lot of Chinese $$ floating around. Not sure if they are looking to get their money away from the US$ or what, though from a few reports they are very keen, not very diligent and don't really understand the mining game and processes. That HEG secured some finance is great but it is not necessarily a confirmation of HEG's quality of assets. 

The figures that HEG have released so far are inferred resources which are a metal content within a geologically modelled volume. They do not take into account economic factors, the mining method and any associated dilution. Their 'Exploration Potential', even with the disclaimer, is pie in the sky stuff and must be close to the line as far as ASX reporting goes.

From what I gather at the moment they have a gravity based processing plant that can now handle 100 tonnes of ore per day. The first shopping item for these guys is a dinkum gold mill/plant = more capital raising.

There is quite a bit of talk about increasing production to 40-50k oz/year and then to 150k oz/year. This will be tricky for them.
1. they need a new mill.
2. their existing gold is in small individual resources in the Reward area. Small individual mining areas require good planning, a lot of capital development for access and doesn't easily scale up into large production volumes. And if historically the lodes in the field are small it is logical to expect that the ones you will find in the future will be too.
3. I assume most of the 'upside ' is in the Hargraves lodes, which being a series of stacked saddle reefs are exceptionally hard to estimate and model gold content due to their small size, significant small scale variability and uncertainty of lateral continuity. These same factors make mining these types of orebodies extremely difficult. The best case would be if the structures are dense enough to allow a bulk mining operation, though that comes with a longer lead time and greatly increased capital costs.

ok enough dribbling on by me, tb these guys do have potential but IMHO they are talking it up a lot. I find it hard to see how they will deliver on their promises.


----------



## tigerboi (4 July 2009)

*Re: HEG-HARGRAVES POTENTIAL*

plenty of info about hargraves,comments appreciated derty...tb

http://austexploration.com.au/region.html

*HARGRAVES REGIONAL SETTING and ECONOMIC POTENTIAL*


The north-south, parallel, doubly plunging folds of the Hargraves Gold Field comprise slates, siltstones and litharenites of the Middle Devonian Cunningham Formation, the Early Devonian Merrions "tuff" Formation of rhyolitic and dacitic lavas, tuffs and basal conglomerate and the earlier Devonian Crudine Group which comprises feldspathic and lithic greywackes, slate, tuff and conglomerate. The Merrions Formation is a regional marker for the overall structure of the area. (Refer figures 26 & 27)

The earliest sediments, the Crudine Group sediments outcrop centrally within the Hargraves Gold Field and at their core host the Tuckers Hill greywacke as gold mineralised quartz saddle reefs. To the west and east of Tuckers Hill, respectively, lie the Hampden Hill - Great Western line of gold mineralisation and the Reef Hill, Oakey Creek, Blue Spec line. Both of these gold mineralised anticlinal structures are hosted by the Merrions Tuff Formation and are also associated with the volcanogenic and volcanic rhyolitic and dacitic tuffs and flows of the Merrions Tuff Formation. The Cunningham Formation that is exposed as the anticlinal fold zone of the Big Nugget Hill beds and its hosted mineralisation, Big Nugget Hill, at its most eastern side, extends westwards towards the Stuart Town Gold Field.

Hence the Big Nugget Hill line of gold mineralisation is underlain by the Hampden Hill - Great Western Merrions Tuff Formation and then the Tuckers Hill greywacke of the Crudine Group.

South of Exploration Licence No 5952 the south plunging Big Nugget Hill anticlinal zone continues in outcrop as the Crudine Group sediments flanked by the Merrions Formation and then the Chesleigh Formation appears further south. All of these stratigraphic units contain gold mineralisation which extends to the Hill End Gold Field. To the east of Hargraves the Crudine Group hosts the Windeyer Gold Field mineralisation and to the west the Stuart Town Gold Field is hosted within the younger Cunningham Formation beds, as at Hargraves, (Refer figure 27)

Each of the above three stratigraphic units within Exploration Licence No 5952 is known to host rich gold mineralisation. Accordingly, beneath the main domal structure at Big Nugget Hill, where ore-fluid flows, focus and gold deposition appears to have been maximised, the underlying Merrions Formation and Crudine Group sediments are also highly likely to host gold mineralisation. It is also reasonable to expect that the Crudine Group sediments underlying the Hampden Hill - Great Western anticlinal zone would be mineralised.

In two places within the Big Nugget Hill fold complex, inverse quartz saddles, (the synclinal legs of the quartz reefs) have been found to be economic by early miners. No drilling of the synclinal quartz has been conducted, but it is known that within such fold structures more gold tends to be deposited within the lower pressure saddles of the anticlines and inverse saddles of the synclines rather than in the legs. If this is the case in the Hargraves Gold Field then the following resource deliberations may be as much as doubled.

There is no way to quantify the likely gold resources at depth beneath the currently defined Big Nugget Hill resource. The total currently defined resource plus that reported and unreported as mined previously within the 550 metre zone drilled to date appears to be in the order of 78,300 to 135,000 oz. Assuming extension of the 70 metre thick Big Nugget Hill resource down the north and south plunges for a distance of as little as 200 metres beyond that determined as shown in (Figure 27) an additional 150,000 to 225,000oz. could be expected to lie within 180 to 200 metres of the surface. The Alma Zone, Triamble Road Zone and BNH North Zone would probably add another 75,000 to 125,000oz. to this figure.

As at Bendigo there is likely to be replication of this mineralisation at depth within the Cunningham - Big Nugget Hill beds and, as above, one would expect gold mineralisation within the deeper underlying Merrions Formation and Crudine Group sediments. Geoservices models that even excluding the Hampden Hill - Great Western and Tuckers Hill mineralised zones an at depth gold resource beneath the Big Nugget Hill anticlinal zone of 1,000,000 to 1,500,000 oz. is possible within 800 to 1000 metres of the surface. This postulated resource figure is based on 4,500 metres of the Big Nugget Hill anticlinal complex. 

The total known outcropping, gold rich, anticlinal quartz reef configurations determined to date is in excess of 12,000 metres. Only 550 metres at Big Nugget Hill and one vein at Tuckers Hill have been investigated to date.

The Hargraves gold field must be considered to have similar potential to the Bendigo gold field prior to the major mining that has been carried out to a depth of 1,000 metres on that gold field.


----------



## Sean K (4 July 2009)

*Re: HEG-HARGRAVES POTENTIAL*



tigerboi said:


> plenty of info about hargraves,comments appreciated derty...tb
> 
> http://austexploration.com.au/region.html



In VERY SIMPLE TERMS how does that add up to 4-5m oz? 

It doesn't.

Simple.

Please add some detail TB. 

Love to see it. 

Looking for another undervaled gold stock to invest in.

Your lack of analysis of anything other than trye tread wear is tiresome.


----------



## tigerboi (4 July 2009)

*Re: HEG-TARGETED RESOURCE POTENTIAL*

This comes from the website,i dont make the announcements, the company does that, the person to query in regards to targeted resource announcements is mr phillip bruce esquire.

Philip Bruce - Managing Director was Managing Director of Triako Resources Limited, General Manager – Development for Plutonic Resources Limited, CEO of PT BHP Indonesia and a Director of Buka Minerals Limited and Ausmelt Limited. 


the target is no different than dmc's
110mt-135mt exploration target DSO
750mt-800mt exploration target NON DSO

[FONT=arial,helvetica,sans-serif]*WELCOME TO HILL END GOLD*[/FONT]
Hill End Gold Limited (HEG) is a strongly growing junior gold mining company with a clear focus on increasing resources and profitable gold production.

The Hill End Project tenements in New South Wales, Australia cover 1,210 square kilometres including the rich historical Hill End, Hargraves and Windeyer Goldfields, which together were one of the world's richest gold mining areas. Previous underground production averaged up to 10 ounces per tonne and large specimens were mined containing up to 3,000 ounces gold.
The HEG development strategy for the Hill End Project is to increase gold production from the Hawkins Hill - Reward deposit at Hill End and to develop the LARGER Hargraves BNH deposit with a targeted resource potential for the Project of 4–5 million ounces.

Hargraves 
The 100% owned Hargraves Project, which is located approximately 35 kilometres to the north of Hill End has numerous prospective zones across a mineralised trend of four kilometres width, which have had little modern exploration. The Hargraves Project has early development targets in the Big Nugget Hill and Tuckers Hill zones, where previous explorers have outlined non-JORC mineralisation of approximately 100,000 ounces to a maximum depth of 70 metres below surface.
The acquisition of the Hargraves Project and the Windeyer Exploration Licences have consolidated three major goldfields in the Hill End area with a previously reported gold production of over two million ounces.
The initial HEG diamond drilling program at BNH totalled 4,082 metres of HQ3 core drilling in 19 holes and outlined a 30 metre wide zone of gold mineralisation to a depth of at least 400 metres with a strike length of about one kilometre. The stratigraphic and structural controls of the mineralisation have now been determined and the target scope of the deposit is approximately 10m tonnes at 4-5g/t. This drilling program along the north end of the known BNH deposit is the first deep drilling on the deposit since its discovery in 1850. 
Our focus has been on drilling the BNH anticline which is the predominant mineralised structure at Hargraves. Gold occurs in the BNH deposit as coarse free grains in mainly bedding parallel quartz veins in a shale package on both limbs, and in the hinge, of the tight BNH anticline. Four additional mineralised parallel anticlines similar to the BNH anticline have been mapped across 200 metres width adjacent to the BNH anticline. The veins occur as zones of dense gold–in-quartz veins about 10–20 metres in thickness and about 20–40 metres apart down the BNH anticline. Abundant visible gold has been observed in every vein zone. 
Thirteen HEG diamond drill holes have successfully provided information regarding the shape and orientation of the BNH deposit and together with the remaining six holes have provided very encouraging grade information. Five 350 to 400 metre deep holes have identified at least four new zones of vein sets, which do not diminish in grade, mineralisation style or gold abundance to that depth. 
Current and previous drilling indicates a strike extent of over 1,000 metres with no indication of decrease in grade, style or abundance of mineralisation at the strike limits of drilling. 
The BNH deposit is expected to be a large, moderate grade deposit with a target scope of 10 million tonnes at 4-5g/t.
A scoping study including a process plant of appropriate size and location is currently underway.
Hargraves is the site of Australia’s earliest gold reef mining in 1851, when large pieces of gold in quartz, containing up to 1,546 ounces, were discovered in quartz vein outcrops at Big Nugget Hill. Rich alluvial deposits were also mined in Louisa, Daly and Meroo Creeks and many large nuggets were found, with the largest at 2,680 ounces of gold.


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## Sean K (4 July 2009)

(this is about HEG)

Yes, HEG state that.

You are happy with that?

You REALLY believe that?

Please tell me why.


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## tigerboi (4 July 2009)

*Re: HEG-Ive spoken to mr bruce personally*

yes i am happy & im a true believer because unlike most shareholders ive been to hillend & hargraves many years ago & if i could get a semi down there i wouldve been there recently when i was doing sydney to dubbo,
to see how things are going.

when it says abundant visible gold its no idle ramp,when you go up there take a shovel & turn the ground over its everywhere.true

mr bruce has a good record with the big company plutonic & other miners,he reckons theres 4-5m oz up there & ive already asked about some months ago & the impression i got from him (& this is not a ramp) was that he was being mildly conservative in his assessment.

coupled with the fact the elboz's have bought up to 19.9% & now some chinese have tossed in $3m & they dont just give their coin away,im happy to hold onto these,in fact in the next 4 weeks im actually hoping to get a lot between maybe 15c-20c. so i will be backing up not a semi but a b/double.

happy to hang onto & add some more on the dips

im a truck driver not a miner so ask me to reverse a b/double into a finger dock no probs,but vein sets,inclines etc im just an interested observer, if anyone really wants deep deep analysis of HEG you gotta go to the HEG thread on HC,no ramping of HEG on there as theres at least 2 guys over there that know their stuff.

TB


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## tigerboi (4 July 2009)

*Re: HEG-phillip bruce video at gold investor forum 2009*

Here is a video of phillip bruce going through the recent presentation at the gold forum 2009...tb

http://www.canaryevents.com.au/gold2009/5.html


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## tigerboi (12 August 2009)

*Re:HEG-reckon thats a break out folks*

17c looks like all but a memory now plus some more cash from sino & bada bing 17c to 28.5c reckon thats a break out trendsetters...

by the way backed the b/double right up to the max next month i got the hegob's...love that potential 5moz...tb


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## Miner (15 December 2009)

Hi Folks

I noticed in HEG there was no posting since August 09 .

This is one of the scrips David H Speculator recommended. The share price never gone up and he has not highlighted this one in his 233% rise success.

Seeing what he did for OBJ and ROL, I made a guess that he will be busy to upgrading his holding for HEG and will make a buy call again in the next bulletin on THursday. This guess was more so, HEG rose higher by mid day and the volume of buy was much larger than the usual days.

HEG technically good so it is not like a typical fly by night scrip either.

I have no science to support my prediction excepting just gut feeling and following the same trend. It is the same gut feeling which tells me to play for 6 numbers to win Lotto and I have never won 

DYOR


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## condog (18 December 2009)

Wow - what a discovery
Im in huge time...major finds from 37m to 370m deep including visible nuggets up to 1.5cm in size....

Do your own research, but WOW


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## prawn_86 (18 December 2009)

condog said:


> Wow - what a discovery
> Im in huge time...major finds from 37m to 370m deep including visible nuggets up to 1.5cm in size....
> 
> Do your own research, but WOW




Problem with these types of deposits is how sporadic they are. I noticed they didnt quote a g/t figure in the announcement, essentially because its only nuggets which can be found, meaning thye have little or know way of actually figuring out if it will be profitable to mine or not.

(Any geos feel free to correct me if im wrong)


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## condog (18 December 2009)

prawn_86 said:


> Problem with these types of deposits is how sporadic they are. I noticed they didnt quote a g/t figure in the announcement, essentially because its only nuggets which can be found, meaning thye have little or know way of actually figuring out if it will be profitable to mine or not.
> 
> (Any geos feel free to correct me if im wrong)




IMO its in no way a sporadic find, its in a known zone after, 3d siesmics and may indicate the vein, and is subsequent drilling to that conducted in 2008 which indicated high grade gold deposits. This may be  quiet large and is potentially extremely high quality as per other sections....(opinion only)...HEG owns a very significant tennement on this vein so if it is high quality we are talking about some serious volmue.....and with production starting this month, hopefull the cash will be flowing free and fast real soon...

Obviously assaying needs to be done to confirm quantities, but its extremely positive news.......hopefully time will prove you very wrong....lets wait and see....though.....no risk = no reward.....


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## derty (18 December 2009)

The fact that the gold is visible means that the grades will be very high. Most of the time the gold is not visible in intersections. 

The Hargraves and Hill End systems are not single veins. They are saddle reefs and occur stacked on each other and consist of multiple veins of variable continuity. Never an easy mining proposition. Detailed 3d seismic may be able to delineate the geometries and is probably their best bet at understanding the system. 

I dug up a paper on the Hill End system. The first attached image is a schematic  showing the geometry of the vein systems within the folded rock. The second image is a schematic of the regional antiform (large scale fold in the rock) showing the large scale sedimentary units that comprise the sequence and the relative locations of the gold mineralisation within the sequence. Note the smaller parasitic folds that comprise the regional antiform. 

There is a short description within the paper of how the gold is distributed within the vein system.


> Economic gold mineralisation occurs primarily within narrow, laminated, bedding parallel veins. Veins thicken into saddle reefs at the anticlinal crests, but they generally contain economic gold only on fold limbs adjacent to the saddles. Veins commonly contain economic gold mineralisation on east-dipping fold limbs but are narrower and only rarely mineralised on west dipping limbs.


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## prawn_86 (18 December 2009)

Thanks Derty, very helpful.

So any idea what that means for us mug punters? (in laymans terms?) What is required for this type of deposit to be profitable?


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## derty (18 December 2009)

What it means that it will be incredibly hard to model up a 4-5M oz Au deposit on such thin and complicated vein systems. 

I have not kept up to date with all their releases, though to achieve a tonnage of this magnitude the only way I envisage that it could be done would be to model the system up as a large scale bulk mining proposition. Essentially taking all the veins and all the waste rock and lumping it all together resulting in a lot of ore at a low grade. If the veins are close enough together and of a high enough grade then it will be economic to attack it this way. If not then it will have to be progressed as a lower tonnage high grade concern with all the issues that go with small scale mining of complicated deposits. 



For a bit of background understanding:
When producing geological models and resource models usually the only source of information available is the drill hole. The closer the drill holes the more you can know about the deposit and the more complicated the deposit the closer the drill holes need to be to have that understanding. 

The drill holes are about 5cm in diameter and in the plane of the vein provide about 0.0025 sq.m of information. If the drill spacing is 40m then that 0.0025 sq.m of data is applied to the surrounding 1600 sq.m. If you want to improve your understanding and halve the drill spacing to 20m you will need 4 times the drill holes as at 40m spacing. At 20m spacing one hole will represent 400 sq.m.

There is an economic limit the how densely you can drill out an orebody. If you are wanting to prove up 4-5Mt of low grade ore you cannot afford to drill too tightly. And with that comes uncertainty, especially in complicated systems and assumptions are required to model the system. At the end of the day it is all about risk a it is very hard for the mug punter to quantify this from ASX releases.


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## condog (18 December 2009)

For the mere punter, visible gold is significantly better then non-visible gold....

?It indicates reliable, managment, reliable siesmics, reliable database, and huge potential profits....

Sure much more work and credibility, drills etc to be done to reach profitable production from these viens, but the fact its proven and in visible quantities is huge.......

The presence of copper is also a great plus for this drill program...

Derty the complicated viens are never to be under estimated, but at a depth of 37m to 370m they are easily economically viable with todays gold prices....asssuming no huge increase in explosive or machinery costs.....

All in all its hard to deny todays results as extremely positive and with massive  upside potential for the tenement...


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## outback (19 December 2009)

Funny thing is, we have a share club at work. We each take it in turns buying shares when our weekly contributions reach a set limit. One member who knows squat about the market picked HEG. Whilst I thought gold was a good area to invest, I didn't think HEG were the best prospect, he may well prove me wrong.


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## So_Cynical (19 December 2009)

condog said:


> For the mere punter, visible gold is significantly better then non-visible gold....
> 
> ?It indicates reliable, managment, reliable siesmics, reliable database, and huge potential profits....
> 
> ...




I would argue the opposite is true...its one lousy hole and the "visible" gold is somewhat underwhelming and doesn't prove anything that wasn't already known....i would be inclined to wait for the next 7 or 8 holes to come in before i got to exited.

Couldn't help but notice the market agreed with me on the day this ann was released...and that the HEG SP has fallen more than 6% this week.
.


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## condog (21 January 2010)

*Re: HEG -High Grade Results Today*



> • Diamond hole HGD35 has returned bonanza grade gold assays from the new highgrade South BNH zone at Hargraves.
> • Assays are 627g/t (20oz/t) over 0.8m, including 1,667g/t over 0.3m at 38m in Veinset1 and 248g/t (8oz/t) over 3.6m, including 2,887g/t over 0.3m at 107m in Veinset 3.
> 
> The Veinset 1 and 3 positions have been intersected in most holes over a 300m strike length, showing moderate mineralisation and increasing in thickness and grade to the south.
> ...




Some exciting developments on what may turn out to be a significnat gold resource....

These results are fantastic...shallow depths and the resource is actually getting better the further they drill...

While the g/tonne are astounding the depthe of each find is pretty shallow....but it does indicate possible numerous outher high grade deposits in between drilling holes....

Its certainly a very positive announcment....


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## Sean K (21 January 2010)

Still a massive question mark over the potential to shore up a decent economical resource. Incredible grades, but incredibly narrow also.

I note that they have only announced results for one diamond drill hole.

Where are the other results? 30 diamond drill holes have been completed.

They do mention this:



> Adjacent holes on the same section did not intersect bonanza grade material and further holes are planned to follow up the intense mineralisation.



How many adjacent holes? 

And this:



> The Veinset 1 and 3 positions have been intersected in most holes over a 300m strike length, showing moderate mineralisation and increasing in thickness and grade to the south.




What's going on? Why not provide the detail?



Are those alarm bells?


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## condog (21 January 2010)

kennas said:


> Where are the other results? 30 diamond drill holes have been completed.
> 
> Are those alarm bells?




Obviously these are the ones immediately newsworthy, i absolutely hear what you say and have both eyes wide open.... but the important thing is they are continuing strngly in the right direction......

My guess is they are drilling perpendicular to find off shoots from the main veins... and to determine length, in that case most holes will come up with zilch, but it has to be done to achieve JORC and to lower costs at the other end...

No concerns what so ever yet....be optimistic....it makes the roller coaster so much more enjoysabe.....


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## Sean K (21 January 2010)

condog said:


> Obviously these are the ones immediately newsworthy, i absolutely hear what you say and have both eyes wide open.... but the important thing is they are continuing strngly in the right direction......
> 
> My guess is they are drilling perpendicular to find off shoots from the main veins... and to determine length, in that case most holes will come up with zilch, but it has to be done to achieve JORC and to lower costs at the other end...
> 
> No concerns what so ever yet....be optimistic....it makes the roller coaster so much more enjoysabe.....



Very good to hear you being objective on this one condog and keeping an open mind. I'm a glass half empty guy when it comes to investing. Caution is the better part of valour in the markets in my opinion. But, it's those that run head on into individual stocks that can make the big dollars. Or otherwise.


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## condog (23 January 2010)

> EARNINGS ESTIMATES
> The earnings estimates that result from the above production profile are as follows: 2010 = 1c , 2011 = 6c, 2012 = 16, 2013 =23c, 2014 = 26c, 2015 = 32c
> VALUATION
> The estimated cash flows from the above production profile result in an estimated Net Present Value (NPV) of $2.54 per share fully diluted including the existing listed options at a Discount Rate of 17.5% and at a constant Australian dollar gold price of $1,117 per ounce. The NPV will rise to $ 2.97 per share at a discount rate of 15%.




This was an interesting read from Sino Analysis Report on the HEG web site...
http://www.hillendgold.com.au/index.php?option=com_content&view=article&id=127&Itemid=158 

Also of interst to new investors looking into this was these few quotes


> If the Company’s drilling program achieves the expected outcomes outlined above the Company will be earnings positive in financial year 2010 and move into the ranks of significant Australian gold producers within 3 years with an ultimate target of approximately 250,000 oz pa., generating substantial EPS.






> The Company’s drilling program which is refining and extending the resource both in acreage and at depth is at the same time producing gold averaging 1,000 ozs per month. The intention is to prove up a 500,000 tonne resource @ 15 g/t down to 400 metres level which will allow the production of approx 40,000 - 50,000 oz per annum within 24months.......and ........simultaneously ......35 kilometres north of Hill End, with the objective being to prove up a 10 million tonne resource at 4g/t down to 400 metres level. This will result in a progressive increase in production exceeding 200,000oz pa within 4 years......as well as laos......




But hows that an NPV of $2.54 to $2.97......


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## Speculator (10 February 2010)

Just noticed HEG got a mention in Feb edition of Smart Investor.

Wont breach copyright so go check it out if your keen or don't if your not


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## So_Cynical (4 April 2010)

Fair to say the HEG share price isn't travelling to well...pretty much gone nowhere over the last 12 months and just struggling to find bottom, HEG is looking more and more like one of those Goldies where the reality cant match the hype.
~


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## condog (5 April 2010)

Its chart isnt looking too pretty, but they have a lot happening at Hill End and Hargraves at presnt while they put in the declines ready for the vertical stopes.

They have upgraded the plant, purchase new machinery  and trippled its capacity, and have been undertaking extensive drilling. 

There will be delays in sp rise till the declines are ready for mining. A turn around is due soon and once the increased production kicks in we should see a very good bounce.


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## Sean K (15 April 2010)

condog said:


> There will be delays in sp rise till the declines are ready for mining.



There is always a general chart from exploration to development to production, but this one doesn't fit the bill.

Looks decidedly back the front actually.

Especially when gold explorers have been generally well supported. Some up 100% since Dec.

The problem I see with this company and their deposits is that it's sporadic. Like a Bendigo, or Ballarat. Very nuggety so that they can say they hit 1000 g/tn over 0.003m, but over 10m it's crap. And, for an underground, or deep mine, this is unfeasable. High grade hits at depth do not add up to an economic resource unless they're over high width and massive length. Unless you have a Chinese workforce digging by hand of course.

I've only had a quick glance for now, but will keep checking.

What are the production guidelines anyway?


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## Sean K (15 April 2010)

kennas said:


> What are the production guidelines anyway?




Jan 29 report:



> The initial target scope of the Hill End project is 100,000 tonnes per year at ~10g/t to commence during 2010.



What is 100k at 10g/t?

10,000 ounces?

Hmmmm.

Is that right???

For the keen followers, at what depth are they going to produce this, and at what cost per ounce?

I'm not sure what to make out of this update on 8 April:



> HIGHLIGHTS
> 
> • The Hargraves Project continues to return excellent drilling results and the on‐going drilling program has been expanded. The Company is considering various avenues for obtaining capital to accelerate the realisation of the outstanding potential of the project.
> 
> ...




So, not 100k pa, and what's the revised effort?


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## Uncle Festivus (15 April 2010)

I think that word 'deferred' has a lot to do with the sp being 'disinteresting' - unless you want to buy their mail order 1oz gold bars? I've bought 8 so far.

The purchase of one ounce gold bars is only available to Shareholders, at the rate of one, one ounce gold bar per 10,000 HEG shares up to a maximum of four bars per Shareholder per calendar month.

http://www.hillendgold.com.au/index...com_virtuemart&Itemid=194&vmcchk=1&Itemid=194


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## Sean K (15 April 2010)

Uncle Festivus said:


> I think that word 'deferred' has a lot to do with the sp being 'disinteresting' - unless you want to buy their mail order 1oz gold bars? I've bought 8 so far.
> 
> The purchase of one ounce gold bars is only available to Shareholders, at the rate of one, one ounce gold bar per 10,000 HEG shares up to a maximum of four bars per Shareholder per calendar month.
> 
> http://www.hillendgold.com.au/index...com_virtuemart&Itemid=194&vmcchk=1&Itemid=194



UF, you seem to be preparing for the end of the world. 

1 oz gold bar?

Can you call that a 'bar'?



Where's your fall-out shelter? Can I buy in?


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## Uncle Festivus (15 April 2010)

kennas said:


> UF, you seem to be preparing for the end of the world.
> 
> 1 oz gold bar?
> 
> ...




LOL, dunno, they're small, shiny lumps of metal that cost about $1250 and do absolutely nothing but gather dust at the moment, has done for the last 12 months nearly 

I've got a fully furnished cave in the Blue Mountains - you are welcome to join me, but you will have to bring your own ammo & women


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## Sean K (15 April 2010)

Uncle Festivus said:


> I've got a fully furnished cave in the Blue Mountains - you are welcome to join me, but you will have to bring your own ammo & women



OK, sign me up. Ammo and women I will bring. Golly, are we heading to that? eeeek!  I mean ammo and women should not go in the same sentance.


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## Uncle Festivus (15 April 2010)

kennas said:


> OK, sign me up. Ammo and women I will bring. Golly, are we heading to that? eeeek!  I mean ammo and women should not go in the same sentance.




Dunno about that - here's some of my recruits in training recently............


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## Miner (17 April 2010)

Uncle Festivus said:


> Dunno about that - here's some of my recruits in training recently............




Uncle Festivus

Would you enrol me in your training ?
You do not have to pay me but I will pay you a fee for training.

My good ness - surely Tiger Wood has not seen those bombshells.

But BTW your and mine are both :topic


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## roysolder (25 May 2010)

good buying op at 12.5 cents 
should be some news out soon re production at hargraves too.
they had a sp up around the 25 cent mark not so long ago.


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## derty (25 May 2010)

roysolder said:


> good buying op at 12.5 cents
> should be some news out soon re production at hargraves too.
> they had a sp up around the 25 cent mark not so long ago.



HEG looks like it is in quite a solid down trend there roy - showing some support at 12c but it won't take much to send it south of there. To me, that their price is in a solid down trend while the AU$ price of gold has been climbing nicely means that there is something amiss with their operation at the moment.

HEG need to increase their production volumes and ounce output before we will see any price stabilisation. Drilling more high grade stringers won't help much, they need to demonstrate that they can economically mine these veins and get some more gold on the surface. 

Re: the impending announcement, the latest information regarding Hargraves production that I could find is that development is 12-18 months out.


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## solomon (27 May 2010)

I think that solid downtrend has just ended. HEG up 30% today (off a very low base) on 2mil shares traded, due to the announcement of bonanza grade gold in a recent drill core. There is a long way to go and HEG appear to be waiting for most of the lab reports on the drilling program.


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## explod (27 May 2010)

roysolder said:


> good buying op at 12.5 cents
> should be some news out soon re production at hargraves too.
> they had a sp up around the 25 cent mark not so long ago.




Well called Roy.   Looking good for a steady rise as the showings are confirmed going forward and the gold price not doing it any harm either.


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## Uncle Festivus (28 May 2010)

> In order  to  focus on  the  significant work  required  to  complete  this  the underground mining at Hill
> End is to be temporarily halted.



Down tools while we work out what we actually have??

I've had this one on & off in order to buy their bullion every time the price hits $1200 or so, but I think the company is erring on the side of caution lest they get accused of doing a BDG with the prospects of their prospects? 

It's a promising historic area and close to Cadia?, with the ability to unearth large nuggets, and have high grade pockets. One for the low touch bid order?

The cycle is bottoming at least, just needs a confirmation from the co on resources?


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## So_Cynical (28 May 2010)

Uncle Festivus said:


> Down tools while we work out what we actually have??
> 
> The cycle is bottoming at least, just needs a confirmation from the co on resources?




There's just no way that's good news...and today's 10% fall in the HEG SP reflects that, how long till they need even more money? gold miners that decide to stop digging up gold = just not good.

http://www.asx.com.au/asxpdf/20100528/pdf/31qksfm5zyvnv8.pdf


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## roysolder (29 May 2010)

well thanks for your thoughts guys, i see any gold junior a promising bet in the long term.
i bought ogc at 12 cents in 2008.
cvy and cag are worth a looky too.


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## J.B.Nimble (29 May 2010)

roysolder said:


> well thanks for your thoughts guys, i see any gold junior a promising bet in the long term.
> i bought ogc at 12 cents in 2008.
> cvy and cag are worth a looky too.




Not so sure about that Roy. I've made money on HEG before but it has been all to do with timing rather than what they pull out of the ground - bleeding cash currently and they have just stopped their only source of revenue. Lots of promise, sure, but they are still no more than a "one man and his dog" mining operation. I gave up on them when my better half started referring to them as Hillbilly gold...


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## jeromejf (30 May 2010)

that pic right on the top is gold ..

I held HEG  until like a week ago ... if i had some spare cash i would certainly hold on  to it .. But ANZ dropping to  21.20  really  was begging me to buy it .solf HEG at 0.145 for a minor profit as i bought in at 0.14. Hoping anz makes me some $$$$ because i let go of HEG very reluctantly.

hey anyone here following  david haselhurst  picks.. i picked HEG  up  on his recomendations.

Rgds


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## Sean K (30 May 2010)

Is anyone else confused by this announcement?



> *Hill End - Hargraves Resource Growth Focus*
> 
> Further to the excellent drilling results from Hargraves and the recognised potential for resource growth both at Hill End and Hargraves the Company is to focus on expanding its resource inventory in the known extensive mineralised structures adjacent to the areas of current activity.
> 
> ...




On 30 April they said:



> *Hill End Project, NSW*
> 30 April 2010
> 
> •	Quarterly gold production of 986 ounces from 6,309 tonnes at 5.2g/t gold, while developing new production areas.
> ...




That all seems like all is a go to me. Like, mining is working. No need to take a break. No need to stop actually mining. 

And does anyone else think that this is 'Bonanza'?



> Diamond drillhole HGCD32 has hit bonanza gold in a metre of core within a 13m downhole intersection of the BNH Central Feeder Zone / Reef 5 position from 77m depth.
> 
> •	Hole HGD13 which is located 25m to the south of HGCD32 was drilled in 2008 with 4.2g/t over 75m from 22m below surface, though adjacent to the Feeder Zone, including 20g/t over 14m from 27m.
> •	Hole HGD13 has now been extended to 246m to target the Feeder Zone and has intersected additional strong mineralisation with abundant visible gold over 50m from 173m down hole.




IMO 'bonanza' is over 50g/t. And over significant width.

20g/t over 14m is pretty average.

Has there been continuous disclosure here?


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## solomon (1 June 2010)

solomon said:


> I think that solid downtrend has just ended. HEG up 30% today (off a very low base) on 2mil shares traded, due to the announcement of bonanza grade gold in a recent drill core. There is a long way to go and HEG appear to be waiting for most of the lab reports on the drilling program.




Okay so with a few days hindsight this call looks to be blown out of the water. Downtrend continues, as does the hurt for this holder. We've gone so far maybe we will see a sub 10c share price .... ahhhh ..... but sometimes you hang on sooooo long there is nothing left to do but hang on and hope for better days ahead.


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## System (5 November 2018)

On November 5th, 2018, Hill End Gold Limited (HEG) changed its name and ASX code to Pure Alumina Limited (PUA).


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## Miner (5 November 2018)

System said:


> On November 5th, 2018, Hill End Gold Limited (HEG) changed its name and ASX code to Pure Alumina Limited (PUA).



So next time this company will convert to iron and then to scrap metal.


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## greggles (21 March 2019)

Pure Alumia to acquire Polar Sapphire Limited from private equity interests for A$27.1 million in Pure Alumina shares and cash. The consideration will be A$14.5m in Pure Alumina shares and A$12.6m in cash.

The acquisition of Polar Sapphire would position Pure Alumina to become a low cost producer of high purity alumina in under a year and is expected to fast track Pure Alumina's plans to commence commercial production of premium 99.999% 5N high purity alumina (HPA) in 2019.

PUA up 12.1% to 3.7c so far today.


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## Ann (10 May 2019)

Up 47.92 this morning to .023c on this news....

*Pure Alumina’s subsidiary Polar Sapphire ships commercial 99.999% HPA quantities*
_
Pure Alumina’s (ASX: PUA) future Canadian subsidiary Polar Sapphire has shipped commercial quantities of 99.999% (5N) high purity alumina (HPA) from its Toronto pilot plant.


Using its patented process, Polar has operated the Toronto plant at its full 150 tonne per annum capacity for the past two weeks to produce almost 10t of 99.999% HPA.


The HPA will be sold to several sapphire producers. Polar has had an active marketing and development program since 2014 when it first sent HPA samples to prospective buyers.


Due to the marketing initiatives and quality of Polar’s product, commercial 99.999% HPA sales have continued to grow, with current customers seeking larger quantities and many new customers making enquiries. More..._


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## Dona Ferentes (1 January 2020)

and then, full circle?

Pure Alumina Limited (ASX: PUA) has completed a review of the strategic direction of the Company, as announced on 30 September 2019, and is pleased to advise the resulting change in focus.

*High Purity Alumina*
While Pure Alumina remains convinced of the strong forecast demand for high purity alumina .... the Company has elected to place the development of the Yendon high purity alumina project on hold until market conditions improve or would consider alternative options for the future of the Yendon assets.

Pure Alumina undertook a review of other major commodity markets and in order of preference preferred the following commodities:
• Gold
• Copper
• Nickel

The attraction of the gold market is close to record high gold prices in Australian dollars and the lack of an apparent supply response indicating that robust gold prices may be sustained in the medium to long term outlook. Combining the outlook for gold with the fact that Pure Alumina owns the highly prospective Hill End gold project, it is logical that Pure Alumina has concluded that *Gold is the Company’s preferred commodity going forward*. Copper projects would also be considered should a suitable opportunity present.


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## Miner (1 January 2020)

Dona Ferentes said:


> and then, full circle?
> 
> Pure Alumina Limited (ASX: PUA) has completed a review of the strategic direction of the Company, as announced on 30 September 2019, and is pleased to advise the resulting change in focus.
> 
> ...



OMG. That is another rip off for the investors. If they could not manage pure alumina, how dare they are going to do on gold? Different expertise and different challenges. So it will be a back to drawing board and crashed share price on market opening. I sincerely thing corporate watchdogs should hold these company executives and directors held accountable and culpable negligence. They are no less than drug dealers.
I am sorry for the holders. I have had similar experience with NUH holding and can empathize the agony.


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## Knobby22 (2 January 2020)

Are they going to go back to their old name, Hills End Gold?

To be fair, reading through the history, they failed to raise enough capital to complete the Polar Aluminum plant transaction so they had no choice. 

A disasterous outcome though.


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## System (7 August 2020)

On August 7th, 2020, Pure Alumina Limited changed its name to Peak Minerals Limited.


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## Dona Ferentes (7 August 2020)

everything old is new again; targets growth in the *gold sector* 

Key Points 
• The updated JORC 2012 compliant Resource Statement for the Hargraves deposit was a very robust 2,318,986t @ 2.38 g/t for 177,652 oz 
• The review of data for the _*Hargraves *_and _*Hill End*_ projects is advanced with a number of opportunities identified 
• We are also taking the opportunity to compile the data into a single format to allow greater efficiency in modelling and to include the results of future work 
• A capital raising for approximately $2 million was very well supported with strong demand for the Placement and the Entitlement Issue very well subscribed 
• The focus for the Company is to continue to develop the opportunities we have at Hill End and Hargraves while also looking for additional value accretive acquisitions


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## frugal.rock (7 August 2020)

This one popped into my interest list again last night Dona. 

Great minds think alike? or...  

Small position taken.


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## Dona Ferentes (7 August 2020)

frugal.rock said:


> This one popped into my interest list again last night Dona.
> 
> Great minds think alike? or...
> 
> Small position taken.



driven by the gold price?!  Think we are going to see more and more working over of old ground

(DNH)


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## greggles (22 October 2021)

Peak Minerals subsidiary, Vertex Minerals Limited, plans to list on the ASX, raising up to $5.5 million via an offer of up to 27,500,000 shares at an issue price of 20c per share.







Peak itself is also raising $4.9 million via a two trance placement at 1.5c per new share with one free attaching PUAOD listed option per two new shares issued. As for the proceeds of the placement:



> The Company will use the proceeds from the Placement to continue exploration at its recently acquired Western Australian copper projects, including a staged drill program at the Greenrocks project expected to commence shortly. The Company will also use funds to continue exploration activities at its Earaheedy and Kimberley copper projects and for general working capital.




Nice to see management proactively pushing things along, as well as participating in the placement. The bottom might be in for PUA.


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## frugal.rock (30 June 2022)

I have chosen PUA for the July 2022 monthly competition, for no other reason other than it had a very little bitty bit of buying interest today, on an otherwise down day.

A dart pick only. Not held.
Not interested, to be totally honest...
😹


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