red hill drilling shows wide pittable zone, page-7

To quote from June 06 qtrly:

“During the quarter Hill End Gold Limited entered into a Farm-in Agreement, subject to
Canadian TSX-V approval, whereby Senator has the right to earn a 50% interest in the Hill
End Gold Project by providing funding of A$16 million to Hill End Gold over three years for exploration and development on the project. Conditional TSXV approval for the arrangement, and the start of the 90 day funding period for the first tranche, was provided on 23 May 2006.”

Those 90 days are due either Today or maybe Wednesday 23 August.
If the deal goes through HEG will have a burst of buying.
-- If it doesn’t HEG may be back at pre farm-in prices.
So, at this point our fate lies in the hands of Senator.

11 cents may provide abit of support – and we are sort of there.
On the positive side the directors have reasonable holdings.
Also, even though there has been a lack of buyers –
It hasn’t yet been swamped by sellers – so the big holders are not selling.

Senator is abit of a worry – I fear they are not a strong hand.
I think their may be frantic negotiations going on behind the scenes.