Daytrading July14 afternoon, page-6

Put this on your watchlist guys, HEG owns two gold mines in NSW.

Hargraves Gold Mine Development Proposal Summary Economics

• Initial production of ~100,000 ounces over four years at
• Production rate 300,000 tonnes per year at 2.5g/t from two initial open pits
• 11:1 waste to ore stripping ratio at a pit design gold price of A$1,450/oz
• Gold recovery of 95%
• Pre-development cost of A$2m and project capital of A$13m
• Net profit of ~A$40m after full cost recovery / royalty payments at A$1,600/oz
• Potential for Hargraves development extensions at same production rate
• Potential development of Red Hill deposit may add significant net profit

Hill End Project

• A proposal to test and develop the upper levels of the Hill End Deposit involves initial drill testing the Frenchmans – Stevens wide-zone to extend the existing resource and develop a nominal target of 250,000 – 400,000 tonnes at 5 - 8 g/t gold. The project development would include a short decline and three initial levels at 24m spacing. Existing drill intersections indicate the wide zone is 3 - 8 metres wide and carries the target grade where it has been intersected in earlier development and in underground drilling.
• The Company has a 100% beneficial interest in its Hill End tenements, while a portion of the ground now encompassed by EL 5868 which includes resources at Hill End and Red Hill is subject to a reduction to 85% if an ‘economic feasibility study’ is completed by the Company, and First Tiffany Resource Corporation, if it establishes that it continues to hold a right against the Company to do so, contributes at the 15% level.

Market Cap. Less than $4M.

Recently raised funds at 0.003, share price at 0.002.

Big support from HK investors, check out the most recent substantial holding notices.

Please do your own research.