Forum Archive Index - June 2000

[Michael Traill <Mykils@excite.com>]

The following is concerning NGH.I have been quietly buying these for some
time.


Nugold Hill Mines NL (NGH): Profile 
--------------------------------------------------------------------------------
 
Profile as at: 18-May-2000  
Company Overview 
Mining and Mineral exploration in Australia and overseas.  
 
  
Activities 
COCKATOO ISLAND PROJECT
The Company receives royalty income from the sale of beneficiated iron ore
product from the Cockatoo Island Project. The Island is located 140km north
of Derby off the West Australian coast.

XANADU PROJECT
The Xanadu tenements are located 30 km southeast of Paraburdoo in the
Ashburton Trough in WA. The prospectivity of the area has been confirmed by
the discovery and bringing into production of a major gold resource at Mt
Olympus, 3km north of the Company`s Xanadu tenements.

PADDINGTON WEST PROJECT
The project is located 2.5 km west of the Paddington mine in a productive
gold mining area.

WYLOO PROJECT
The project is located in the Ashburton Trough. Drilling at the Monster Lode
prospect has returned results up to 4m @ 2.2 g/t gold.

ROYALTY INTEREST - MT MONGER AREA 
The Company retains royalty interests over future production from the Mt
Monger, Baker JV, and Fortuna Venture tenement groups.

PHILIPPINES
T he Sunshine Gold project is located 120km northeast of Davao City on the
eastern side of the Mindanao Island. The project covers a number of high
grade gold silver orebodies which have been mined on a small scale since
1993. 

NEW ZEALAND 
The Company holds a Mining Lease over Glassford Terrace which has the
potential for a small alluvial operation. It is located 2km west of
Cromwell.
 
 (NGH):
Company Announcements 
--------------------------------------------------------------------------------
 
Advantage Telecommunications Ltd APCN 2 project 
 02/05/00 4:24:02 PM 
NUGOLD HILL MINES NL 2000-05-02 ASX-SIGNAL-G

HOMEX - Melbourne 

+++++++++++++++++++++++++
We advise that the company has received notification from Advantage
Telecommunications Limited that it has entered into an agreement and
joined a consortium of companies on the AFCN 2 project.

Nugold Hill Mines NL has completed its acquisition of a 40% interest
with an option to increase its holding to 60% in the Hong Kong based
wholesale telecommunications carrier.

Attached herewith is a press release issued by the parties to the
project in relation to the construction and maintenance of APCN 2
together with a media release on the project.

We would be obliged if you could now remove the trading halt on the
company`s securities.

Should you have any queries please do not hesitate to contact the
writer.

J Palermo
DIRECTOR

A group of world leaders in the telecommunications inustry met in 
Singapore on 18 April 2000 to sign a formal Construction and 
Maintenance Agreement to build the first self healing high handwidth 
optical fibre submarine cable system in the Asia Pacific Region known 
as the Asia Pacific Cable Network 2 (APCN 2) at the cost of about US 
$1 Billion.

This cable project is spearheaded by 26 telecommunications companies 
namely Advantel, Cable & Wireless Global Network, Cable & Wireless 
HKT, China Telecom, China Unicom, Chunghwa Telecom, Concert Global 
Network Services, Global One, Japan Telecom, KDD Corporation, Korca 
Telecom, KPN, Layer 2, MCI WorldCom, Metromedia Fibre Network 
Services, NTT Com, NCIC, OneLink Cable Network, PLDT, StarHub, 
Singtel, Taiwan Fixed Network, Teleglobe, Telekom Malaysia, Telstra 
and Williams Communications.

The Supply Contract for the construction of the APCN 2 cable system
will be signed between the APCN 2 and NEC Corporation of Japan on 19
April 2000 in Singapore.

Upon its completion, the 19,000 km long APCN 2 cable system will
connect eight countries/places namely China, Hong Kong, Japan, Korea,
Malaysia, Phillipines, Singapore and Taiwan. Besides serving the Asia
Pacific Region, the cable system will also provide seamless
interconnection with other major trans-oceanic cable networks
providing connection to USA, Europe, Australia and other parts of
Asia. The APCN 2 cable system is expected to carry commercial traffic
by the end of September 2001.

The APCN 2 cable system is designed to provide 2.56 tbps using 
state-of the-art Dense Wavelength Division Multiplexing (DWDM) 
technology to provide upgradable, future-proof transmission facilities
that support Internet and e-commerce. In addition, the APCN 2 cable 
system will have a "self-healing ring configuration" with four 
fibre-optic pairs, equipping it with greater network resilience and 
route diversity. This is important for businesses that require 
uninterrupted telecommunications services. The APCN 2 will lead to a 
multi-fold increase in telecommunications cable capacity in the 
Asia-Pacific region. The APCN 2 cable system, with its large bandwidt
and high quality transmission technology will meet the present and 
future burgeoning growth in telecommunications traffic.

Nugold Hill Mines NL`s telco subsidiary, the Hong Kong-based
wholesale carrier Advantage Telecommunications Limited (Advantel),
will join someof the region`s largest carriers as an investor in the
new submarine fibre optic cable Asia Pacific Cable Network 2 (APCN 2)
- positioning it for a quantum leap in its Asian growth strategy.

Nugold (ASX: NGH) announced today that Advantel had signed up to
invest in the giant broadband cable network, entitling it to an
interest in unallocated capacity in the cable.

The Hong Kong-based carrier will join more than 40 of the region`s
major telcos - including Cable & Wireless lobal Network, MCI
WorldCom, Telekom Malaysia, SingTel, Global One and China Telecom -
as foundation partners in one of the most exciting new telco
infrastructure developments in the Asia-Pacific region.

Participation in the major project will give Advantel direct exposure
to the fast-growing market for voice and data communications across
Asia and complement its growth strategy as a wholesale service
provider to other carriers in the Asia-Pacific region.

Advantel will launch its first international wholesale Service in
June 2000 through a network hub - a Nortel DMS-Global Switching
Platform (GSP) product - utilising a new telehousing facility in Hong
Kong developed by its strategic partner in the region, US telco giant
IXnet (NASDAQ:EXNT).

Advantel`s Chairman, Mr Brett O`Riley, said participation in the APCN
2 project would give the Company access to one of the largest and
most significant infrastructure projects in the Asia-Pacific region,
nabling it to add significantly to its range of service offerings.

"We will be able to offer customers wholesale broadband access
through one of the most sophisticated voice and data communications
networks ever developed in the Asia-Pacific region," Mr O`Riley said.

"This will allow us to effectively determine our own international
cost structure in the Asian region," he added. "It will also enable
us to develop a backbone, Internet Protocol network capable of
carrying voce, data and multimedia - giving us the opportunity to
participate in the forecast explosion in traffic in the Asia-Pacific
region."

"This demand is anticipated to increase even more rapidly as Asia`s
telecommunications industries deregulate," he went on to say.

Voice traffic alone within Asia has been estimated recently by the
Phillips research group to be growing at 15%.

Globally, recent figures presented at the Carrier World conference in
Hong Kong by Telstra forecast he wholesale market for voice traffic
as estimated to be worth US$35 billion in 2000 and the data market
US$13 billion. These figures are expected to grow, respectively, to
US$31 billion and US$44 billion by the year 2005.

The APCN 2 network - which will cost about US$l billion to complete
- will provide high-speed connectivity through a state-of-the-art
fibre optic cable connecting eight countries (China, Hong Kong,
Japan, Korea, Malaysia, the Philippines, Singapore and Taiwan) as
well as interconnecting with the large trans-Pacific cable networks
such as the China-US and Japan-US systems.

A US$800 million supply contract for construction of the
19,000-kilometre long cable has already been awarded to NEC of Japan
and construction is underway, with first commercial traffic through
the network expected by the third quarter of 2001.

The APCN 2 cable system will offer total capacity of up to 2.56 Tbps
(terabits per second) using state-of-the-art Dense Wavelength
Division Multiplexing (DWDM) to provide upgradable, future-ready
transmission facilities that support Internet and e-commerce. In
addition, the network will have a "self-healing ring configuration"
with four fibre optic pairs, equipping it with greater network
resilience and route diversity.
ADVANTAGE TELECOMMUNICATIONS LTD (ADVANTEL)

The company commissioned KPMG to undertake an independent assessment
of the opportunities and risks of investing in Advantage
Telecommunications Limited ("Advantel"). KPMG concluded that "....
the Advantel project has the potential to be commercially attractive,
even based on fairly modest market penetration projections...". A
summary from the report was released to the market on the 8 March
2000.

At the General Meeting of Members on the 23 March 2000, the
shareholders approved the acquisition by the company of an initial
40% interest in Advantel together with an option to acquire a further
20% interest. Since the end of the reporting period the company has
settled on the acquisition of the initial 40% interest in Advantel
and has advanced loan funds to Advantel to enable it to expedite its
operations. The loan funds are advanced on normal commercial terms
and conditions.

Advantage Telecommunications Limited ("Advantel") was recently formed
as an international telecommunications niche carrier based in Hong
Kong to develop wholesale and value added telecommunications
opportunities in the Asia Pacific region. It aims to take advantage
of the forecast strong growth in the recently deregulated Asia telco
market, both in international calls and Internet-related areas. The
first stage of the operation involves relationships established with
telecommunications carriers and service providers in the USA, Hong
Kong, New Zealand, and the PRC.

Advantel`s new pan-Asian hubs will be located initially in Hong Kong
and Shanghai and will be dedicated to providing a switching system
designed to address the needs of global carriers wishing to provide
seamless services wrldwide.

Advantel has finalised its operational timetable with key suppliers
Nortel Networks and IXnet. They will utilise the IXnet tele-housing
facility in Hong Kong to provide network connectivity and housing for
the installation of its network hub a Nortel DMS-Global Switching
Platform (GSP)product. Advantel`s customer base is mainly retail
carriers in the Asia-Pacific region and it will have connectivity to
these hubs from its customers and joint venture partners in theUnited
States, Asia and New Zealand.

IXnet maintains a network consisting of 71 Points of Presence (POP`s)
in 37 countries around the world, with an Asynchronous Transfer Mode
(ATM) backbone. Nortel has offices in 150 countries and maintains a
premier position and reputation in the telco equipment market.

Advantage Telecommunications Limited is aiming to commence services
on its new Asian and trans-Pacific hubs for switched
telecommunications traffic as early as mid-year.

For further information:
John Palermo Brett O`Riley
CHAIRMAN CHAIRMAN
NUGOLD HILL MINES NL ADVANTAGE TELECOMMUNICATION LIMITED
Telephone: (08) 9242 1622 Mobile: + 0011 64 214 64040
Mobile. (0417) 947 059

 
 

  
 
On Mon, 5 Jun 2000 14:08:51 +1000 , sharechat@sharechat.co.nz wrote:

>  Does anybody know anything about Nugold (NGH) on the ASX?
>  had a tip on thursday to buy but didnt because i didnt know the source
>  was 11 cents on thursday, hit 23 today
>  apparently found gold somewhere and is supposed to go to 50c
>  also last time i looked on bloombergs there was an announcement pending 
>  **********************************************************************
>  Commonwealth Bank of Australia (ACN 123 123 124)
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>  
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