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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.
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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
 
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.
 
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?
 
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?
Click to expand...

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

hopfully this one will carry on tomorrow.
 
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 :)
 
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

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Excellent stope sampling results continue in the Cornelian M2 at Hill End.​

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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.​

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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.​

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The 60 metres sampled to date averages 64g/t over 0.8m width.​

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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.













 
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.
 
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
 
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.
 
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:D


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.
 
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.:rolleyes:
 
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:D
 
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 :)
 
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

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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.
 
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
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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.
 
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