there is no ASX code for Heathgate resources because it is a...

there is no ASX code for Heathgate resources because it is a private company...

Due to the fact that it is a private company, they are not bound under the continous disclosure rules that ASX listed companies are... hence the reporting of drilling results and information is very slow to market... Heathgate are only required to report information as required by statutory requirements to its JV partners

Heathgate therefore prefer to "down play" any significant finds as it serves no purpose to them to pump them up in the market...

If you think about it logically, look at it like this:

Heathgate find a massive uranium deposit on GIR's land.

Do they disclose immediately to market, or hold on to the information and downplay it?

If they disclose, the price of GIR shares sky rocket, and if Heathgate ever wanted to buy GIR out, they now have to pay a higher price (take a look at AGS' market cap... It would cost Heathgate over half a billion dollars to buy them out now).

IF they downplay information, then they can make a takeover offer at current market price, and capitalise on the upside....

That is the problem with being in a JV with a private company.... access to information is very hard to come by, and any good finds are not likely to get out in the market place in a hurry.