investor presentation, page-13

Tks R,

I found the presentation VERY interesting - PB said some things that might not have been made clear before:-

"We’re looking at expanding the project at Hill End to 40 – 50 thousand ounces per year, opening up the Hargraves deposit within the next 12 to 15 months and expanding that into a deposit over the next 3 years which we believe would sustain a 150,000 ounces per year production."

"We started off in Canada as a small syndicate in 93, listed in Canada and then split out the Australian subsidiary and listed in 2003."

"We’ve been mining the Paxtons, about a meter wide… …..its really just taking out high grades here and there to pay for what we’re doing. That’s what we’re doing – we’re developing – we’re looking for resource delineation through the development that we’re doing".

"Up at Hargraves, we have something even better. What we have there is something that we think is probably 10 times bigger than what we have outlined at Hill End".

"We are looking at relocating the plant and putting it into a better position..... ..... and that will happen over the next 12 months"

"We can build a plant that does 40,000 ounces for probably less than a million dollars".

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HEG has spent 20M getting the mine up & going - 16M on development and 4M on drilling. Monthly costs are about 1.2M

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I thought that PB represented HEG very well to the audience, I am just not too sure who they were - maybe prospective investors, if so, is HEG planning to expand with new capital rather than the "growth from within" road that it has been travelling?