**the next oxr**

This courtesy of Mining News today:

Herald expects re-rate once Dairi starts up

Michael Quinn


Wednesday, February 25, 2004
HERALD Resources executive director Michael Wright says he'd be very surprised if the company is not still producing zinc and lead from Indonesia in "20, 30 or 40 years time" given the number of prospects the company will target once it gets its Dairi project up and running.

Wright made the comment at the RIU Resources Conference as the bankable feasibility study on Dairi heads into the home straight.

Construction of the US$80-90 million project in north Sumatra, Indonesia could begin mid-year, leading to shipping of concentrates by late in 2005.

Based on the recent zinc price, Dairi's pre-tax operating cash flow equates to $6.50 per share compared to Herald's current share price of around 75 cents.

Wright attributes the massive discount to operating in Indonesia, but believes disinterest in the stock will end when production begins.

"Once you start banking cheques people have to take notice of you," Wright said.

He told delegates there were similarities between the market's discount of Herald and the similar discounts suffered by Kingsgate Consolidated, Aquarius and Oxiana until they began production.

A Herald roadshow is now underway.

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The RIU resources conference slides can now be viewed on Herald website or via ASX announcement today.

This stock has potential! I urge you to do your own research.