info please, page-16

Hi Opaline

Just add my thanks for your continued insights and explanations to us "tyre kickers" a better understanding of what is happening out in Hill End

If you're referring to the issue of the 2009 Sept options then the HEG announcement of 17 July 2008 states:

"The Directors of Hill End Gold Limited are pleased to announce the completion of the one (1) for five (5) pro rata issue of new options (HEGOB) to eligible shareholders, at $0.03 per option.

The issue of 54,229,668 option, which was partially underwritten by Bell Potter Securities
Limited closed fully subscribed."

If fully exercised the HEGOB issue would raise just over $15M - adding in the original issue price, obviously the trick for management now is to get the sp back over 25c in the next 9 months and the only way I see of that happening is generating plenty of cash and not going back to the market.

However, as a HEG/HEGOB holder it's unreasonable to expect HEG to create an enterprise out of thin air or built from string & rubber bands, as investors we have to be prepared to put our cash in to allow the potential to be realised. I'll be happy to ship my 25c assuming the sp is above that level if HEG continue to provide the information and transparency over what is happening and their aims, which they have recently started to do, albeit helped by Opaline's analysis on HC!