Link Traders (Aust) Pty Ltd director Laurence Freedman has become a substantial shareholder in Hill End Gold (ASX: HEG) with the purchase of 24,210,000 fully paid ordinary shares on 1st March 2011. In a series of on market purchases since 2009, Freedman now owns a 5.48% stake in the company.
Well known Sydney investor Freedman is also on the boards of Condor Nickel (ASK: CNK) and also a director of Carrick Gold (ASX: CRK). Freedman is also a director of Phoslock (ASX: PHK).
Hill End is aiming to grow into a mid tier gold producer of over 200,000 ounces per year and increase new gold endowments to 4-5 million ounces.
Project tenements in New South Wales cover 1,210 square kilometres including the rich historical Hill End, Hargraves and Windeyer Goldfields, which together were one of the world's richest gold mining areas.
Hill End/Hargraves are located in the Lachlan Ford Belt which is a proven gold rich area with over 150 million ounces produced. The area comprises 860 square kilometres of granted tenements that are significantly underexplored.
The company is the first major corporate to hold and comprehensively explore the area which has historically very high grades up to 10 ounces per tonne.
The company's strategy is de-risked exploration along the Hill End/Hargraves structure and to grow the resource base to +1 million ounces. It is also evaluating development and production at Hill End and Hargraves and continues to acquire advanced development projects.
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