Australian (ASX) Stock Market Forum

PUA - Peak Minerals

Jump to new
exgeo

exgeo

Joined
5 January 2007
Posts
384
Reactions
0
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).
 
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.
 
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.
 
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.
 
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
 
YOUNG_TRADER said:
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
Click to expand...

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 :2twocents DYOR
I hold.
 
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.
 
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
 
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.
 
For a market cap of $15 million this stock has a heap of potential.
I'm surprised the stock hasnt rocketted on this news.
 
Announcement came very late in the day. Caught me by surprise - wasn't expecting it today.

May see more reaction tomorrow I think.
 
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
 

Attachments

  • 00709411.pdf
    146.5 KB · Views: 25
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.
 
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.
Click to expand...

thanks for that
kind regards
ang
 
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.
 

Attachments

  • HEG.PNG
    HEG.PNG
    32.5 KB · Views: 133
Top