Ballarat Goldfields is an Australian gold explorer and developer, with a strong
portfolio of projects primarily focused on the highly prospective Ballarat gold
province in Victoria.

Situated in one of the most famous historical gold mining regions of Australia,
Ballarat produced over 12 million ounces before it's premature closure, around
the time of the first world war.

In 2004, for the first time following discovery in the 1850's, the leases over
the entire Ballarat field were consolidated under the sole ownership of BGF.
This has resulted in the company constructing a comprehensive geological model
of the entire field, demonstrating what many had suspected, that Ballarat had
massive unexplored prospectivity.

BGF completed a pre-feasibility study in 2004 which proposed an initial
underground mine at Ballarat East, with twin access declines servicing the
haulage and ventilation. The mine, based on BGF's geological model, has a life of 21 years, and would achieve an average production rate of approximately
200,000 ounces of gold per annum.

Website For Own Research
http://www.ballarat-goldfields.com.au

Top 20 Ordinary Shareholders Hold 69.66% of Issued Capital: 5th July 2006

Diggers & Dealers - Investor Presentation ASX and Media Release: 9th August 2006

Ballarat-Goldfields Annual Report2006

Ballarat East Revised Development Strategy ASX and Media Release: 7th September 2006

+6% gain since thread began.

+9% gain now since starting this thread. Anyone else in??

+11% gain now since buying these shares and starting this thread..... Looks like I'm the only one in on this BB....

Explosive,

What's your target price and timeframe? Thanks.

My current target price is only 20p a share however within 6 months. Reports suggest that this mine can easily support 200,000 ounces of gold per year but without production cost estimates. Hence rather difficult to calculate.


http://www.ballarat.com/gold.htm
http://www.smh.com.au/articles/2004/04/25/1082831434453.html?from=storyrhs
http://www.ballaratgenealogy.org.au/art/gold.htm

Above links and reports suggest that Ballarat could produce anything up to 600,000 ounces of gold per year again without production costs.

http://www.ballarat-goldfields.com.au/investor_relations/documents/InvestorUpdateNov05.pdf

Very strong market confidence and support so confident this venture will be seen through to profit.
Once I've established a rough production cost base I'll adjust my target price accordingly. What do you think? I'm raving mad to be in on this right!!

12.61% gain now since thread began.

Nearly a million shares bought Friday which seems strange for this little miner.

Could it be in anticipation of good news perhaps, time will tell.

BGF expects to provide further details in the December Quarterly Activities
Report in January 2006.

Could well be however looking at the below graph this share just seams to go frm strength to strength... Have a look at some of the links I've posted above. The mine and gold quality seam a dead cert on this one!!

Losing a bit today, still up 11% though in all.

No change 13th day 11% profit

Still no further change, uplifted gold price should help climb though..

No change from yesterday..... :-(

Small rise today, expecting news soon...

Back to 11% up, yet again!!

Still 11% and holding well, news due this month as company moves to gld producer and plant is commissioned... I am hoping for 24p within 6 months if production rates can be met... Site and plant will both be able to process more than the expected 200K ounces per year of gold so target likely to move on new of increased production.

Last director dealings, sorry no RiskGrade data at current.

Date Action Directors's name Price Amount
23/12/05 Sell Richard Laufmann 23.90p 800,000
10/10/05 Exercise of option Colin Smith A$0.06 2,805,717
10/10/05 Exercise of option Richard Laufmann A$0.06 1,000,000

Ballarat Goldfields N.L.
30 January 2006

Ballarat Goldfields NL (ACN 006245441)
ASX and Media release: 30 January 2006

Quarterly Activities and Cash flow Report

For the 3 months ended 31 December 2005

KEY POINTS
Construction of the crushing and gravity recovery circuits of the
processing plant was completed on schedule on 12 December 2005.

First gold was poured on 21 December 2005 during the commissioning of
the gravity recovery section of the plant.

Breakthrough of the ventilation drive into the North Prince Extended
Vent Shaft was finally achieved on 11 January 2006

Mining was undertaken in the first stope from the 189 Woah Hawp North
Ore Drive with the first lift of the cut and fill mining method successfully
completed.

High grade gold drill intersections at Ballarat East during the
quarter include:

3.0m @ 41.2g/t,
3.0m @ 17.1g/t,
4.0m @ 14.1g/t,
2.0m @ 16.8g/t,
3.0m @ 9.1g/t.

Construction of the tailings storage facility commenced during the
quarter.

Placement of ordinary shares to Australian and international
institutions raised A45 million.

Ballarat Goldfieds, in association with the City of Ballarat, donated
the gold to be used in the production of the gold medals for the Melbourne
2006 Commonwealth Games.

Nomination received for a Victorian Worksafe Award.

Laura Chibnall was appointed Manager - Community and Environment.


BALLARAT EAST PROJECT DEVELOPMENT

Underground decline development

Underground development at the end of the quarter had advanced a total of 2,183
metres.

The primary mine development objective remained the Sulieman decline to the
north and the Woah Hawp decline to the south.

The Sulieman decline, now at a depth of 223 metres below surface, continued to
experience good ground conditions allowing consistent progress. Development was
halted during the last part of the quarter to allow access for underground drill
rigs. This decline is being developed to the north to initially provide drill
platforms for resource definition before ultimately providing a return airway
for the mine.

The Woah Hawp decline, at a depth of 230 metres below surface, continued to the
south providing access to the first stopes from the 189 Woah Hawp Ore Drives,
North and South. Ground conditions were variable, however reasonable progress
continued to be achieved.

Break through into the North Prince Extended ventilation shaft occurred on 11
January, some 4 months later than originally planned. The primary vent fans were
installed during the quarter, and this phase of the ventilation circuit
construction is now complete. The shaft sinking infrastructure was removed and a
temporary cover put in place until a permanent air guide (evase) is established
over the shaft collar.

Breakthrough of the ventilation circuit and installation of the fans will allow
the introduction of additional development and mining equipment in order to
ramp-up development rates.


Underground mining

A total of around 6,000 tonnes was mined from the 189 Woah Hawp North access and
stockpiled on the surface. The first lift in the strike drive was completed and
the void successfully filled prior to commencing the second lift.


PROCESSING PLANT

Construction of the crushing and gravity recovery circuits of the processing
plant was completed on 12 December 2005 as planned at a cost of approximately
A$18 million. This circuit allows the largely coarse free gold to be liberated
and collected in the gravity concentration circuit. Several concentrated streams
are then collected for further separation and smelting. As planned, the first
stage of the process plant will be completed with the addition of a leaching
circuit, utilizing a high intensity leach reactor, later in this half year. Data
collected during commissioning will allow fine tuning of the design and
implementation of the leaching circuit.


Commissioning

Commissioning of the processing plant commenced in December 2005 and will
continue into the current quarter. During this time the plant will be run on a
batch basis as grade reconciliation, process tuning and mechanical performance
are monitored.

Prior to construction of the leaching circuit the gold bearing sulphide
concentrate will be stockpiled.


Tailings storage facility and water supply

The tailings (fine grain sand) will be deposited in a tailings storage facility
("TSF"). Construction began early in October following review and signoff of the
final engineering design. The new design, approved under a work plan variation,
incorporates current industry best practise and complies with international and
Australian guidelines and principles for world class environmental management
and sustainable development.

Ballarat Goldfields is a member of the Mineral Council of Australia, and is
committed to the implementation of the principles of "Enduring Value", the
industries benchmark for stewardship.

The TSF is expected to be completed during the current quarter. The process
water storage dam, associated supply pipework and pump were also completed in
the quarter. An area within the process water dam is being utilized for interim
tailings storage prior to the completion of the TSF.


MINE GEOLOGY AND EXPLORATION

Ballarat East resource definition drilling

Diamond drilling continued at Ballarat East, with two drill rigs focussed on
regional resource definition and a third drill rig focussed on stope definition
drilling.

The regional drilling program targeted gold mineralisation on the Tiger and Mako
faults which are typically 500 to 600m below the surface.

Access to shallow targets on the northern sections was restricted until the end
of the quarter, due to the limited availability of the Sulieman decline. The
drilling from the northernmost section of the decline has successfully
identified gold mineralisation on the Hammerhead fault. This particular fault is
significant as it will allow for development and stoping later in 2006 in an
area previously targeted but not drilled.

The drilling continues to intersect gold mineralisation in the targeted zones
identified by the BGF geological model. Visible gold is also repeatedly observed
in these zones giving further confidence in the model.

Significant assay results from the December quarter drilling are summarised in
Table 1.

Hole number Down hole depth (m) Width (m)* Grade g/t Location

BEU080 85 to 89 4.0 14.1 Hammerhead Fault
--------------------------------------------------------------------------------
BEU088 277 to 279 1.9 12.1 Hammerhead Fault
--------------------------------------------------------------------------------
BEU093 262 to 265 3.0 9.1 Hammerhead Fault
--------------------------------------------------------------------------------
BED07A 548 to 551 3.0 17.1 Tiger Fault
--------------------------------------------------------------------------------
BEU050A 315 to 317 2.0 16.8 Tiger Fault
--------------------------------------------------------------------------------
BED008 536 to 538 2.0 13.1 Tiger Fault
--------------------------------------------------------------------------------
BEU087 310 to 315 5.0 3.7 Tiger Fault
--------------------------------------------------------------------------------
BED008C 603 to 606 3.0 41.2 Mako Fault
--------------------------------------------------------------------------------
BEU50B 380 to 382 2.0 10.7 Mako Fault
--------------------------------------------------------------------------------

Table 1: Significant assay results received in the December quarter 2005
*All of the intersections reported have been adjusted for their estimated true
widths.

Other Exploration

During the quarter work began on the exploration programs for Ballarat South,
Berringa and Ballarat West. This included the employment of staff and purchase
of drilling equipment.

In addition, the company has consolidated its exploration and mining licences
from 16 to 4, along with two new applications.

The total area under licence remains the same, with the two applications adding
to the portfolio. This change is aimed at simplifying future applications,
administration and expenditure management.


Safety Award Nomination

Ballarat Goldfields were nominated for a Worksafe Victoria award in the category
of "Best Strategies for Health and Safety Management". The nomination recognised
the design and operational ingenuity of the company's drill core processing
facilities.

This is an important recognition both, of the company's innovation and focus on
safety, and the commitment of key personnel in implementing an outstanding
facility.

Established industry practice in this area is inadequate. To address this, staff
established the drill core processing facility to address numerous health,
safety and operational inefficiencies that typically exist.

As a result, BGF has seen a dramatic improvement in the efficiency of recording
key information that can identify the location of gold mineralisation. This
places the company in a position where it can effectively expand its exploration
activities to the additional projects that it owns, without interfering with the
quality of information and attention required at its Ballarat East project.


CORPORATE AND FINANCE


Finance

The cash balance at 31 December 2005 was $53.9 million. During the quarter, $6
million of the principle outstanding was repaid to Investec Australia Ltd, with
$6 million debt remaining.


Ordinary share placement

In November 2005, BGF undertook an international placement of 150 million shares
at A$0.30 raising A$45 million, before costs, to clients of RBC Capital Markets,
Numis Securities (UK) and Haywood Securities (UK). The funds raised by the
placement will be applied to exploration and feasibility of the Ballarat South,
Berringa and Ballarat West projects and towards the Ballarat East gold
development.


Key management appointment

Laura Chibnall was appointed Manager Environment and Community. Laura is an
environmental scientist who began her career in land use planning with the State
Government of Victoria. Laura also brings a wealth of mining industry experience
having worked in Kalgoorlie with Goldfields Limited and, more recently, with MPI
and Leviathan Resources Ltd at the Stawell Gold Mine in Victoria.


COMMUNITY

Commonwealth Games - Melbourne 2006
Ballarat Goldfields was honoured to donate gold to the City of Ballarat, a
sponsor of the Melbourne 2006, Commonwealth Games.

Gold, from Ballarat Goldfields ore processed at the Sovereign Hill tourist mine
during the quarter, will be used in the production of the gold medals for the
Melbourne 2006 Commonwealth Games.


BACKGROUND INFORMATION

Ballarat East Project Summary

Situated in one of the most famous historical gold mining regions of Australia,
Ballarat produced over 12 million ounces before it's premature closure, around
the time of the first world war.

In 2004, for the first time following discovery in the 1850's, the leases over
the entire Ballarat field were consolidated under the sole ownership of BGF.
This has resulted in the company constructing a comprehensive geological model
of the entire field, demonstrating what many had suspected, that Ballarat had
massive unexplored prospectivity.

BGF completed a pre-feasibility study in 2004 which proposed an initial
underground mine at Ballarat East, with twin access declines servicing the
haulage and ventilation. The mine, based on BGF's geological model, would have
a life of 21 years, with an average production rate of approximately 200,000
ounces of gold per annum.

Underground development at Ballarat East recommenced in December 2004 and BGF
accessed the first mining block in September 2005. The process plant began
commissioning in December 2005.


BGF's geological model robust

BGF's geological model remains robust as the drilling continues to intersect
gold mineralisation in the target zones identified by the geological model.
After probability adjustment for risk and uncertainty the company derived an
Exploration Potential of 8.3 million ounces, with 90% confidence limits ranging
from 2.8 million ounces to 14.4 million ounces in addition to an inferred
resource of 1.1 million ounces for Ballarat East. (Further information is
available on the BGF website www.ballarat-goldfields.com.au )

Note:The information in this report that relates to Exploration Results, Mineral
Resources and Exploration Potential is based on information compiled by Mr
Steven Olsen. Mr Olsen is an employee of Ballarat Goldfields NL, is a member of
the Australian Institute of Mining and Metallurgy and is a Competent Person
under the definition of the 2004 JORC Code. The Exploration Potential described
above is conceptual in nature, and there is insufficient information to
establish whether further exploration will result in the determination of a
Mineral Resource. Mr Olsen consents to the publication of this information in
the form and context in which it appears.

Above news sees sp rise, 12.61% gain since starting this thread!!

5% gain today see my overall position rise to 17.44%.... Growth should continue too :-) Anyone else in or watching this thread?

Bloomberg this morning reported gold at all time high since 1989...

Yet another rise today, overall gain now since I stared this thread is 20.66%

Another 5% rise today, looking good thats 25.48% up since begining this thread. Anyone else yet onboard?

Bid rises to 19.75, 27.09% gain since starting this thread and buying the share on the 31/12/05..

No movement today folks....

End the week, overall gain 23.87% up.

I've been to Ballarat.............. I won't be buying any BGF shares.

Veludo - Buy or don't buy makes no difference to me....

Total gain since starting this thread is +25.48%

Up just under 10% today, shares still looking very good.

Total gain since starting this thread 35.14%, bought 31/12/2005.

And holding.......

Small fall today, gains however still above 30% which isn't bad for under a 2 month investment!!

Price holds up.... This thread is becoming my personal diary of events!!

am watching this one as money tied up in chp at this time. debating wether to sell my PEG at a small loss and buy something new as they haven't done much for me[last weeks risses just lessen my loss]

Another small fall today.... Overall gain since begining this thread +30.31%

robertalexander - Your in chaco resources then, oil and gas v's gold miner... Decisions, decisions... So tell me how long you been watching BGF for then? I litterally found them a few weeks before buying in and starting this thread. Can't complain though as +30 in 3 months is pretty good going... Hoping that production rates will increase as they have the facility for it just like GFM have done today. Will send the sp soaring if it happens later in the year.

about 2 days. i found yr thread and thought hmmm... these are a bit out of my normal price range[ i like them <20p] as i only buy in 400-1000 bundles and i like to get more shares for my moneybut the upward trend caught my eye. it is high risk with these smaller shares but sometimes it pays off. i pays my money and takes my chances. i only have 4 shares in my portfolio at the mo chp,ser,sco,goo. so we will see. was off work today so got to play the market. got an extra 500 shares in chp for free[sold high/bought back in low, no fees for my first month either]. i dont know much about the particular companies[ i look on the internet, in RHPS etc.] i also follow the BB banter, again risky but one or two of you seem to be on the level, like you and stockdog, mjr1234& greyhound. try to ignore ravey dave and master rsi as cant tell whether they on the level or not

Hahaha, I squelched both Master RSI and Ravey Davey, fed up with their nonsense. RHPS isn't what it used to be, I think TB has had more losses in the past 12 months than gainers... I got in BGF at 15.54, the gold has just started to flow but I think the share could well hit +25p by summer. Looks like your portfolio is all oil and gas? If so a bit of a risk all in one segment. Gold prices seam to be on the rise 10% each year so Bloomberg tells us so organic growth is good...

Your money and high risk, although not as high as the other shares in your portfolio!!

used to follow TB quite religously but some of his shares are high priced[>20p] and as my portfolio only c2000, costs make small holdings unprofitable. not brave enough[or stupid] to lump all in on one company. i have been lucky with Tom as i had kmr and eum but took my money and ran [up c85% ]and am trying to do it my way to see if i can make it. it is risky but then again it is only a hobby to me.

robertalexander - I personaly think its best to do it alone. Sure everyone takes losses I am currently 1K down on AMU and holding. Paper trading is also a very good way to learn with zero risk. Not sure I understand why you don't consider shares above 20p though. A 20% rise is a 20% rise regardless of the sp and to limit yourself to shares under a certain price limits your potentail as an investor.

I cannot be considered a serious investor with just 2000. I could and have paper traded but the 'buzz' isn't there. With my budget I can only realistically get 4 diff shares in my p/folio at any one time [costs eat away at anything less, either that or I buy and just hold for years and pray]. A more sensible way to make money but not nearly as much fun!! I tried the buy and hold method with blue chip companies and got badly burnt.[my fault for not watching market, i was living overseas at the time and wasnt in a position to do anything about it. share certificates at mums house and she didn't have POA etc.]. now i am trying something different to see if i like it any better, will prob[read almost definitely] get burnt again. i am winning for the moment but only 9 days into my new style, my lesson learnt this week is dont be in a rush to buy b4 0900. ]. I welcome your opinion and always give it serious consideration.
ps. bgf now in my [considered] price range but no free cash - typical

RobAlex.

I'm also find after 9am can be a great time to buy, gives the share price an hour to settle down into the direction it will most probably be going.

KD.

Yet another fall today, total gain since buying and starting this thread +22.27%.... Low volumes today... This is the kick back to the recent rise and sp should now show stability.

I must mention I am somewhat annoyed with myself today for selling ROC just before xmas for around a 100p.... Just seen the 135p current price bad call, only made around 10% on the share. Oh well win some lose some I suppose.

RobAlex - your last post mentions you welcome my advice, I must stress that its a bad idea to trust anyone you meet on BB's... Theres plenty of people out there that will ramp up a share and whilst telling others to buy they are secretly selling. Trust no-one is my advice and check for yourself so called facts that people post.

Possible new equity buy WTV - World Television Group [close today 0.83] - Market Cap 6.29m

All views welcome.

SP over past year has taken quite a knock, however I believe 2006 will be profitable.

For Immediate Release 16 January 2006

World Television Group Plc
("World Television" or "the Company")

Contract Win

World Television, the international televisual communications company, is
pleased to announce the award of a new 3-year contract by the European Space
Agency ("ESA"), won in a competitive tender.

For Immediate Release 30 December 2005

World Television Group Plc
("World Television" or "the Company")

World Television agrees to sell Foroso

World Television, the international televisual communications company, today
announces that it has agreed to dispose of the Company's webconferencing
subsidiary Foroso Communications GmbH ("Foroso").

Following a detailed strategic review of the business, the Directors of World
Television have concluded that Foroso and its web conferencing products are not
a core part of the group's strategy going forwards, due in the main to the
increasing commoditisation of these services, and are therefore pleased to reach
an agreement with members of the existing management team of Foroso. Foroso's
Meeting Centre and Training Centre will continue to operate as normal and
without interruption.

Four of the original founders of Foroso (Peter Pock, Elmar Merget, Kristof
Nast-Kolb and Ingrid Buchenberger) will take ownership of the company from 1
January 2006. World Television will receive a 20% share of revenues in 2006 and
2007. World Television will also receive all of the proceeds of any sale of the
business before 30 June 2006, up to a maximum of 680,000, and 20% of any
subsequent sale until 31 December 2015.

For Immediate Release 28 October 2005

World Television Group Plc
("World Television" or "the Group")

World Television Launches Expanded British Satellite News Service

World Television, the corporate communications, news production, webcasting and
event management company, is pleased to announce the launch of a new expanded
British Satellite News (BSN) service following the renewal of its contract with
the UK Government's Foreign & Commonwealth office (FCO).

The contract, worth approximately 1.5m p.a., will run for three years from
October 2005 with a further two year extension option period.

For Immediate Release 17 October 2005

World Television Group Plc
("World Television" or "the Group")

World Television wins Production Company of the Year award for the second year
running

World Television, the corporate communications, news production and event
management company is delighted to announce that it has won Production Company
of the Year 2005 at the prestigious AV Business and Industry Awards in London.
World Television won the same award in 2004.

Taken from last interims

Financial Highlights

* Turnover for the first 6 months 5.1 million
* Underlying turnover increased by 7% (386k)
* 1.3 million of annualised cost savings now implemented (400k higher than
originally announced)
* Tight cost controls now yielding benefit to the Group
* EBITDA loss, pre exceptionals, reduced substantially to 6k loss (2004 - 256k
loss) which reflects an underlying performance of EBITDA profitability


Operational Highlights


* Successfully won British Satellite News (BSN) contract, at increased value with
the UK Government Foreign and Commonwealth Office
* Other new business wins include - BAA, 02 and Microsoft
* Disposal of loss making subsidiary Kamera completed in March 2005, into special
purpose vehicle (SPV) and will accrete value over next 3 years
* Announced today - appointment of Evelyn Kimber as the new Chief Financial
Officer

explosive,
it is your opinion I listen to. I always follow my own advice whether it be good or bad. :)

explosive - what do you think about Herencia (HER)? silver mining in Chile - The graph looks set to do another Ballarat.

veludo - Very good timing your post above, had just logged on tonight and am looking for another mining investment to get into. I'll check it out and come back to you...

veludo - HER is a fair few years behind Ballarat, there won't be any money in this for some time so all the initial costs of setup and risk are there. I prefer miners that are very close to commissioning maybe upto 12 months before hand. Silver however is good to be in as price on the market is increasing. So a not at the moment for me.

Another day another fall total gain now +20.66%

are you still feeling confident about these shares? in @18.25p

Robert, although it's quite dull really, the best method for long-term gains is holding onto certain shares for years. Sometimes you get lucky by being in a share that just goes up and up relentlessly. The really difficult part is NOT selling out when you have a big gain that you're scared of losing. The other side to that of course is to never become too attached to any one share. Contradictory advice in one paragraph........ and that's the puzzle!
My only basic advice for holding onto what you've already got is; if you have several shares that look like they're going downhill, get rid of all of them. Most of them will continue to go downhill and that's what drags down your entire portfolio.

To illustrate the point, I've been in and out of MER for years making tidy sums along the way. But if I'd simply held I'd have made a lot more.
Contrast that with buying and holding JKX at 24.8p.

Oh, and I would suggest you take about 2 years to work out who talks sense on these boards, and trust no one on here in the meantime!!!

i am holding these as long term [only got a few at the mo but may top up later].
Anyone, any thoughts as to the current spate of selling? just curious. ran out of long term fund money so cant take advantage of this lull. typical of my timing!!

anyone suggest a reason for the sp increase when only trade today so far a sell?

explosive, are you still a believer in this share? you dont seem to comment any more now the sp digging into yr profits.

Hi all, yes still in and sorry for no comments I got back into Gatwick at 1:30 this morning from holiday.... I see the current sp has fallen to 17.5, theres no real reason for this except the interims could have been a little better. Anyway am still up some 12% on this one and can only see the recent fall as a blip. Good price to buy into actuly and I'll have to see if I can get some more funds.

Beasties - agree with what you say about trusting people. Not so sure your illustration with MER on falling shares however is a good point. Sometimes a share falls for absolutely no reason at all, it doesn't mean it should be sold.

By the way you can also subscribe for newsletters free of charge on the below link.

http://www.ballarat-goldfields.com.au/newsletter/subscribe.cfm

hope you had a good holiday. always the sp's fall when portfolio full with no spare cash and other shares are a hold for the time being.

Very true, the sp's falling further too..... Mmmm now I wonder if a few '04 big players have decided to take their profits and move on....

Some interesting news articles....

http://www.bloomberg.com/apps/news?pid=10000081&sid=aE6XWFUz6R8I&refer=australia

Australia May Overtake S. Africa in Gold Output, Surbiton Says

http://www.theage.com.au/news/business/states-goldfields-on-comeback-trail/2006/03/05/1141493548995.html

http://www.theaustralian.news.com.au/common/story_page/0,5744,18567128%255E643,00.html

Good article below for anyone concerned about gold prices v's the strength of the ozzie $.......

http://www.heraldsun.news.com.au/common/story_page/0,5478,18638499%255E664,00.html

Well looks like were in a slump, I have no doubt this will recover along with the exchange. Current gain to date 9.4%

Some recovery it would seam, whos holding shares in BGF anyway??

i bailed out at a small loss to release funds for my next project. the day after the sp rose and i would have been in profit![my new project also went down after purchase too, typical] just waiting for more funds to get back in

Thats typical robert, how come you bailed out then? I am looking for another bounce in the sp and then will be out myself.

+20.66% up since starting this tread and buying this share.....

was looking for more chp[didnt bother in the end, for once a move that proved right]. chp didn't bring me the spoils i was expecting and i missed the 19p sp cos i was sleeping off nights, the following drop south encouraged me to top slice my holding but only after i had sold bgf[ a move i now regret but hindsight is a wonderful thing] in the end i went chasing blr and aimr again. i know more oil/gas, but hopefully i now have oil/gas pots around the globe and not just on one continent. does that mean i have a balanced portfolio?...LOL. i will buy back in as like you said gold always seems to keep its price and isnt nearly as volatile as gas/oil. just need to get this oil/gas philosphy out of my system[ and consign it to the tried & tested pile.. unless it works then i might stick with it]
Alex

Hi Alex, the oil & gas stampede was last years big earner, this year metals mining are doing well. Having said that I'm 47% up on Providence Resources bought on the 27/01/06 so still some good companies about. BGF at the moment isn't a bad buy under the 20p mark but you'll need to be prepared to stick with it until production commences..... Also try and keep an eye on currency, the ozzie $ falls against the US$ and this share tends to fall in price, however lets not dismiss when this happens production costs for BGF also fall making the company more proftable... Hence the fall in sp recovering now. I'm still trying to figure out high production could go on this site, @ 200,000 ozs per year. Now this production quota is very low and only an immediate milestone when production commences. BGFs mines are capable of far more so in 18 months production figures could be well upto 600,000 ozs a year!! I will no doubtly try my usual trick of getting in for the rises and selling, letting the sp fall and getting back in.

Profits have been taken for year end now and the rebuy continues....

Back to 20.25 and pleased to be in profit 30.31% since buying and starting this thread. Am expecting sp to follow NMX1770 (mining tracker) up staying above. Nice to see the entire sector has risen giving way to the sp rise of recent.

Anyone see Bloomberg this morning, looking at recent studies the price of gold is set to rise with no fall in demand!! So organic growth whilst commissioning just around the corner..

0 trades today, I'm still here though.

Ballarat Goldfields N.L.
25 April 2006


Ballarat Goldfields NL
ASX and Media release: 26 April 2006



Ballarat Goldfields discovers the control of higher grade

gold mineralisation, at depth, at Ballarat



Ballarat Goldfields NL (BGF) believes it has achieved a significant breakthrough
in its understanding of the higher grade gold mineralisation located at depth at
Ballarat East with the discovery of a large fault system, named the Blue Whale
fault.

Over the past 2 years, BGF has consistently observed, both visually and from
gold assays, that some of the deeper fault zones below the historical workings,
typically from 500m to 650m below the surface, contained higher concentrations
of gold than the shallower faults and, in many cases, the gold grades were much
higher than the historical mined grade.

Recent deeper drilling on the southern end of the Ballarat East field has
identified the large Blue Whale fault system which is interpreted to be an
important control on the location of this higher grade gold mineralisation.

The BGF geological model has successfully demonstrated that the gold
mineralisation at Ballarat East is associated with reverse faults, which
typically displace the layers of rock anywhere from 5 to 20 metres. Drilling of
these fault zones over the past 2 years has continually intersected gold
mineralisation on both the faults that were partially mined historically, and
additional faults below the historical mines.

The Blue Whale fault is interpreted to have greater movement than the faults
that were mined historically with a displacement of over 100 meters compared to
the 5 to 20 metres of movement on the upper level faults. The upper faults
appear to splay off the Blue Whale fault and have higher gold grades where they
are in closer proximity to it. The Blue Whale fault is considered to be the
source of the gold bearing fluids and hence controls the location of the higher
grade gold mineralisation.

The Blue Whale fault may also control the depth limit of gold mineralisation at
Ballarat East and is some 600 metres deep at the southern end of the Ballarat
East field and is interpreted to plunge to over 1500 metres at the northern end.
The depth extent of the current mine plan is 800 metres.

BGF is confident that this discovery will have a positive impact on the expected
gold grade to be recovered at depth from Ballarat East, however there is
currently insufficient data to quantify what the full impact may be. As a
consequence, BGF is reviewing the current mine plan and the focus of its
Ballarat East and Ballarat West exploration efforts.





Background Information

The drill hole grades (Table 1) from the faults targeted in the southern part of
the Ballarat East project area, are tabulated in descending depth order. The
cross section (Figure 2) has a geological interpretation identifying the
relative position of the faults based on the drilling information.


Grey Nurse Fault
Drill Hole From To Width(m)* Grade*g/t)**
50 Drill holes
Average Drill Hole Grade 3.9g/t


HammerHead Fault
Drill Hole From To Width(m)* Grade*g/t)**
DED153A 214.5 215 0.5 25.0
DED148B 193 197 4.0 5.14
DED156 200 206 6.0 7.7
DED156A 215 217 2.0 13.25
DED156B 205 206.5 1.5 7.9
DED158 203.3 207.3 4.0 9.12
Average 3.0 8.56


Gummy Fault
Drill Hole From To Width(m)* Grade*g/t)**
BDD021B 464.3 465.4 1.1 2.1
BED001A 428 430 2.0 2.0
BED001B 432 436 4.0 5.37
DED139 343 345 2.0 2.36
DED139A 344.7 349.9 5.2 10.9
Average 2.9 6.24


Mako Fault
Drill Hole From To Width(m)* Grade*g/t)**
BDD017 601 606.1 5.1 11.25
BDD021A 559.2 567.2 8.0 6.93
BDD025A 558.6 560.7 2.1 13.17
BDD025B 561.1 570.9 9.8 43.84
BED001B 526 529 2.8 7.58
BED003 544 546 2.0 0.32
BED003A 547 549 2.0 37.15
BED007 597 602 5.0 6.76
BED007A 586 589 3.0 0.5
Average 4.4 17.58


Mako Foot Wall Fault (immediately below the Mako Fault)
Drill Hole From To Width(m)* Grade*g/t)**
BDD017 627 630 3.0 24.92
BDD025A 580.4 585 4.6 1.01
BDD025B 578.5 590.7 12.2 23.5
BED008C 603 608 5.0 24.84
Average 6.2 19.77


Table 1 *All of the intersections reported have been adjusted for their
estimated true widths.

**Assay results are uncut.


NOTE: The diagrams relating to Figures 1 to 4 below can be viewed by following
this link;

http://www.ballarat-goldfields.com.au/investor_relations/documents/ASXreleaseBlueWhaleFaultRelease26April2006.pdf



Figure 1: Long section showing the location of the recently drilled faults
relative to the existing BGF inferred resource on the southern part of the
field.



Figure 2: Cross section showing the depth and relative location of the faults
identified by BGF.



Historical data from Ballarat has identified boundaries where the very high
grade surface gold mineralisation was found in the 1850's (Figure 3 and 4). From
known drilling data, BGF geologists have now projected the Blue Whale fault to
the surface and have discovered that its interpreted surface position
corresponds to the high grade surface boundary. The Blue Whale fault appears to
control the eastern boundary of the high grade gold mineralisation and, in
particular, it is adjacent to the famous Eureka Lead, which reputedly had one of
the highest concentrations of gold in the world.

At this stage, BGF cannot predict the full impact of the discovery of the Blue
Whale fault, other than to reveal that it will have a positive influence on the
gold mineralisation at depth, which has a higher average grade than was
previously modelled by the company. The modelled grades were based on historical
production records from the old quartz mines, none of which were in close
proximity to the Blue Whale fault zone. The discovery offers an exciting
opportunity for the future of gold mining at Ballarat, and BGF is reviewing all
available options to take advantage of it.





Figure 3: Plan view of the larger alluvial gold deposits showing where the Blue
Whale is interpreted to come to the surface.



Figure 4: Interpreted cross section of the Blue Whale and associated faults
which host the gold mineralisation at Ballarat.

It should be noted that the drilling results, in a Ballarat style of ore
deposit, will typically underestimate the overall resource available for mining
due to the coarse gold that is present. For a further explanation of the coarse
gold at Ballarat see the information sheet called "Ballarats Fine Gold and
Coarse Gold Distribution" in the Gold Projects section on the BGF website
(www.ballarat-goldfields.com.au).


Note:

The information in this report that relates to Exploration Results, Mineral
Resources and Exploration Potential is based on information compiled by Mr
Steven Olsen. Mr Olsen is an employee of Ballarat Goldfields NL, is a member of
the Australian Institute of Mining and Metallurgy and is a Competent Person
under the definition of the 2004 JORC Code. The Exploration Potential described
above is conceptual in nature, and there is insufficient information to
establish whether further exploration will result in the determination of a
Mineral Resource. Mr Olsen consents to the publication of this information in
the form and context in which it appears. The terms Exploration Results, Mineral
Resources and Exploration Potential are used in accordance with their
definitions in the 2004 JORC Code, which is available at www.jorc.org.


Further information on Ballarat Goldfields, including this release containing
all figures is available on the BGF website www.ballarat-goldfields.com.au
or contact Joel Forwood, Manager Corporate & Markets, on 03 5327 1111.








This information is provided by RNS
The company news service from the London Stock Exchange




Ballarat Goldfields N.L.
25 April 2006

Ballarat Goldfields NL

ASX and Media release: 26 April 2006

Quarterly Activities and Cash flow Report

For the 3 months ended 31 March 2006

SUMMARY

Construction

Gravity process plant successfully commissioned. Early performance is
exceeding design. Gravity sulphide concentrate is being stockpiled on site
for later processing.
The tailings storage facility, completed during the quarter, is being
commissioned.

Underground Development

Ballarat Goldfields recorded its highest development advance for a
quarter, 584 metres.
Development productivity is being affected by poor ground conditions in
areas of weak fault zones.
A third jumbo was introduced at the end of the quarter to accelerate
development.
Tenders were invited for the extension of the Southern "Woah Hawp"
decline ventilation system.

Mine Production

Production from the upper levels is being slowed due to unexpected old
workings. This will be rectified as deeper ore sources are accessed below
the old workings.
Development delays and old stope voids are expected to have an effect on
the early ramp up of production. However, the longer term target of
200,000oz per annum is still expected to be achieved by mid 2008.

Mine Geology and Exploration

Discovery of the Blue Whale fault is a significant breakthrough in the
understanding of the control of higher grade gold mineralisation at depth at
Ballarat East.
High grade gold intersections from drilling at Ballarat East include:

o 3.5m @ 11.6g/t

o 16.0m @ 7.3g/t

o 2.5m @ 7.3g/t

Corporate

Cash balance at 31 March 2006 was $42.6 million.
General Meeting successfully ratified the equity placement in November.
Mark Davies was appointed Manager - Metallurgy.


BALLARAT EAST PROJECT DEVELOPMENT

Construction

Ballarat Goldfields gravity process plant (Photo 1) was successfully
commissioned during the quarter. The unique plant design, primarily focused on
gravity concentration, was chosen to take advantage of the coarse gold
characteristics of the field. The plant has a planned initial throughput rate of
600,000 tpa.


The front end of the plant consists of a two stage crushing circuit which is
already achieving operating rates in excess of 1 million tonnes per annum. The
crushed product is stored in a 500 tonne bin, with provision for the
installation of a second bin in the future.

The crushing circuit feeds a closed circuit gravity recovery system comprising
tertiary crushing, via Vertical Shaft Impactor (VSI), and a series of Gekko
rougher and scavenger InLine Pressure Jigs. Additional chutes have been
installed for the expansion of the tertiary crushing circuit and trials will be
undertaken to determine if a further VSI or High Pressure Grinding Rolls (HPGR)
will be used for this expansion.

During commissioning, 11,027 tonnes of low grade ore were treated through the
process plant.



This above circuit is designed to remove approximately 5% of the total feed, as
a gravity concentrate, made up of liberated heavier material comprising free
gold and gold bearing sulphides. Current indications are that gravity
concentrate recovery is operating better than design, with tail grades lower
than anticipated, to date.

The gravity concentrate is pumped to the gold room, where very coarse gold is
removed via Wilfley and Gemini tables and a gold bearing sulphide concentrate is
currently being stockpiled

Test work on the sulphide concentrate will allow us to finalise the
specifications for the treatment of this material, currently planned around the
installation of a Gekko Intensive Cyanidation Leach Reactor (ILR).

Tailings storage facility

The tailings (fine grain sand) will be deposited in a tailings storage facility
("TSF"). Construction of the TSF was completed in the quarter and is currently
being commissioned.


UNDERGROUND DEVELOPMENT
Sept Qtr 06 Dec Qtr 06 Mar Qtr 06 YTD FY06
Underground Decline
Development (m) 478 546 584 1,608


Underground mine development remains currently focussed on the Sulieman decline
to the north and the Woah Hawp decline to the south

Development rates have continued to improve despite both development headings
intersecting significant cross course faults which slowed their progress during
the quarter.

The Sulieman decline, currently 235m below the surface, continues to be mined
towards the north to establish drill platforms for resource definition and
access to the northern part of the field. .The 176 Sulieman Access was commenced
during the quarter, off the Sulieman Decline, to access mineralisation
identified from recent drilling.

Development advance in the Woah Hawp decline, 242m below the surface, was
impacted by mining the southern primary vent chamber along with 2 cross cuts to
future mining blocks and intersecting a cross course fault.

The development rate has improved for the third consecutive quarter,
nevertheless, due to regular encounters with cross course faults, the access to
the new ore sources is being delayed. BGF now expects the initial production
ramp up to be slower than expected.

To accelerate development a third jumbo commenced commissioning at the end of
the quarter.

Tenders were invited to upgrade the ventilation system at the southern end of
the mine. Initial plans include an internal extension of the New Prince Extended
ventilation shaft.

Two surface dewatering holes were successfully cased through old shafts to allow
for dewatering of the old workings. The first Underground dewatering station is
currently being commissioned at a depth of 250 metres and is expected to be
capable of extracting 2 Megalitres of water per day.


MINE PRODUCTION
Sept Qtr 06 Dec Qtr 06 Mar Qtr 06 YTD FY06
Ore Tonnes 2,357 6,737 6,519 15,607


Mining is currently only underway within the 189 Woah Hawp stope. This block
(photo 4) is located in the upper level of the mine in a window within the
historical workings.

A total of 6,519 tonnes of low grade ore was extracted from the 189 Woah Hawp
South access during the quarter. This block is showing mineralisation wider than
indicated from diamond drilling, requiring some redesign.

Late in the quarter, an intersection with old workings, which had not been
modelled or intersected in exploration drilling, delayed production and reduced
the tonnage available.

The discovery of mined out areas that were not mapped or detected in exploration
drilling will result in lower near term production during the ramp up phase.
However, the longer term target of 200,000 oz per annum by mid 2008 is not
expected to be effected because:

Ore shoots have been located to the north near the current level of
the Sulieman decline in an area where there had been a low probability placed on
economic mineralisation; and,

the breakthrough in the understanding of where high grade mineralisation
is located with the discovery of the Blue Whale fault and its future
implications for production scheduling.

BGF is currently reviewing its mine plan and expects to be able to provide
further guidance on the production schedule in the June Quarterly report.


MINE GEOLOGY AND EXPLORATION

Blue Whale fault.

As reported, BGF believes it has achieved a significant breakthrough in its
understanding of the higher grade gold mineralisation located at depth at
Ballarat East, with the discovery of a large fault system, named the Blue Whale
fault.

The Blue Whale fault is considered to be the source of the gold bearing fluids
and hence controls the location of the higher grade gold mineralisation.

The Blue Whale fault may also control the depth limit of gold mineralisation at
Ballarat East and is some 600 metres deep at the southern end of the Ballarat
East field and is interpreted to plunge to over 1500 metres at the northern end.
The depth extent of the current mine plan is 800 metres.

BGF is confident that this discovery will have a positive impact on the expected
gold grade to be recovered at depth from Ballarat East, however there is
currently insufficient data to quantify what the full impact may be. As a
consequence, BGF is reviewing the current mine plan and the focus of its
Ballarat East and Ballarat West exploration efforts.

Underground definition drilling

Diamond drilling continued at Ballarat East, with two drill rigs focussed on
regional resource definition and a third drill rig focussed on stope definition.

The regional drilling program was restricted by drill site availability, with
the bulk of the drilling on shallower targets close to the decline. The best
drilling results came from the Hammerhead fault within close proximity to the
existing decline.

Significant assay results from the March quarter are summarised in Table 1.

Hole number Down hole depth (m) Width (m)* Grade g/t Location
BEU109 263 to 267 3.5 11.58 Hammerhead Fault
---------- ---------------- --------- -------- -------------
BEU110 259 to 278 16.0 7.27 Hammerhead Fault
---------- ---------------- --------- -------- -------------
BED009B 309 to 312 2.5 7.3 Fold related
---------- ---------------- --------- -------- -------------


Table 1: Significant assay results received in the March quarter 2006.

*All of the intersections reported have been adjusted for their estimated true
widths.


Other Exploration

Ballarat West

BGF commenced a detailed reconstruction of the historical Ballarat West mines.
This program is similar to the reconstruction program completed several years
ago for Ballarat East.

Berringa

Site preparation was undertaken prior to a drilling program, which commenced
during April.

Ballarat South

Initial preparations are being made in order to conduct metallurgical testing of
stockpiled material from Ballarat South.


COPORATE AND FINANCE

Finance

The cash balance at 31 March 2006 was $42.6 million.

General Meeting

Ballarat Goldfields NL (BGF) held a General Meeting on Monday 27 March 2006. The
purpose of the meeting related to BGF's obligation, under its loan facility with
Investec Bank (Australia) Limited, to maintain sufficient capacity to enable
Investec to convert part or all of its existing loan to BGF into fully paid
ordinary shares, should it wish to do so.

On 21 February 2006, BGF issued 1,855,999 shares to Investec following a loan
conversion request. This effectively used up the balance of BGF's issuance
capacity, under ASX Listing Rules, following the placement of 150,000,000 fully
paid ordinary shares on 28 November 2005.

The resolution to ratify the placement in November 2005 was passed and therefore
effectively, "refreshed" BGF's issuance capacity enabling it to comply with any
future conversion requests for part, or all, of the balance of the loan
facility.

Key management appointment

Mark Davies was appointed Manager - Metallurgy. Mark has over 20 years
experience in mineral processing and extractive metallurgy of gold and base
metals. He joins us from BHP Billiton's Olympic Dam operation where he held the
position of Refinery Manager responsible for copper cathode and gold production.
Mark also worked in a number of operational and technical roles in the
concentrator and hydrometallurgical plants at Olympic Dam. Prior to this he
worked with WMC Resources in Western Australia at their nickel and gold
operations in Kalgoorlie, Kambalda, and Leinster.

Mark is a graduate from the University of Ballarat. His interest in the mining
history of the area was the driving force behind his decision to practice
metallurgy and he now welcomes the opportunity to contribute to the success of
the modern mining era of Ballarat.


BACKGROUND INFORMATION

Ballarat East Project Summary

Situated in one of the most famous historical gold mining regions of Australia,
Ballarat produced over 12 million ounces before it's premature closure, around
the time of the first world war.

In 2004, for the first time following discovery in the 1850's, the leases over
the entire Ballarat field were consolidated under the sole ownership of BGF.

This has resulted in the company constructing a comprehensive geological model
of the entire field, demonstrating what many had suspected, that Ballarat had
massive unexplored prospectivity.

Following a pre-feasibility study, based on BGF's geological model , underground
development at Ballarat East recommenced in December 2004. The plan, proposed an
initial underground mine at Ballarat East, with twin access declines servicing
the haulage and ventilation. The mine, would have a life of 21 years, ramping
to an average production rate of approximately 200,000 ounces per annum.

In line with this plan, drilling has continued to increase confidence in the
geological model. Development of the mine and associated process plant is
continuing as planned, with stage 1 of the process plant now commissioned.

BGF's geological model robust

BGF's geological model remains robust as the drilling continues to intersect
gold mineralisation in the target zones identified by the geological model.
After probability adjustment for risk and uncertainty the company derived an
Exploration Potential of 8.3 million ounces, with 90% confidence limits ranging
from 2.8 million ounces to 14.4 million ounces in addition to an inferred
resource of 1.1 million ounces for Ballarat East. (Further information is
available on the BGF website www.ballarat-goldfields.com.au )

Note: The information in this report that relates to Exploration Results,
Mineral Resources and Exploration Potential is based on information compiled by
Mr Steven Olsen. Mr Olsen is an employee of Ballarat Goldfields NL, is a member
of the Australian Institute of Mining and Metallurgy and is a Competent Person
under the definition of the 2004 JORC Code. The Exploration Potential described
above is conceptual in nature, and there is insufficient information to
establish whether further exploration will result in the determination of a
Mineral Resource. Mr Olsen consents to the publication of this information in
the form and context in which it appears. . The terms Exploration Results,
Mineral Resources and Exploration Potential are used in accordance with their
definitions in the 2004 JORC Code, which is available at www.jorc.org.



Ballarat Goldfields N.L.
26 April 2006


Ballarat Goldfields NL

ASX and Media release: 26 April 2006


Appendix 3B - Loan Conversion



Ballarat Goldfields NL (BGF) has today issued 22,174,612 shares to Investec Bank
(Australia) Limited in order to repay all outstanding principal and interest of
its loan facility with BGF. Attached is the fully completed Appendix 3B in this
regard. In accordance with the loan agreement, the shares issued on conversion
of the loan facility are being issued at 25 cents each.


BGF is issuing ordinary shares without disclosure to Investec under the
fundraising provisions of Part 6D.2 of the Corporations Act, and this notice is
given pursuant to section 708A (5) (e) of the Corporations Act. As at the date
of this notice, BGF has complied with its financial reporting and auditing
obligations under Chapter 2M of the Corporations Act and its continuous
disclosure obligations under section 674 of the Corporations Act. In particular,
there is no information which BGF has withheld from Listing Rule 3.1 disclosure
under the confidentiality carve-out from disclosure.

I'll be here all night if I read the above.

Can anybody comment?

KD.

Means nothing has changed and everything going as planned or better. Also with the new shares being placed on the market there will be a small overhang, good oppertunity to buy @ 18's and sell @ 20's within a week or two.

IM(not very humble)O, today is no day to be rushing off to buy gold or any other mining share ...... Virtually all mining stocks are taking a pasting today, which is scarcely surprising given the way they have all risen over recent weeks ..... At least in the short term, I think these stocks will perform like the proverbial "Up like a rocket; down like a stick"

Thanks explosive.

KD.

No move today, back down to a measley 14% profit.... Have to admit the loan conversion hasn't gone down very well but still expecting a bounce back to 20p a share. Also now debaiting on selling for the only reason theres better pickings to be currently had!!

Trading @ just above the 18p mark, small overhang but should return back to the 20p support line by next week!! Fingers crossed all the same. '''''''''''' @+J

Explosive,
something went my way [GGG & SCR]and funds mean i am back in, this time with a long[er] term view.
have split my portfolio into (a) short money grabs and (b) smaller holdings but longer term holds. that way i can get the buy/sell buzz and still keep a sensible amount in a long term fund for when the inevitable happens with option (a)
Alex

Hi robert, I take your in today, what price did you manage to get in at?

Only three buys so far today aganst zero sells,

500 @ 18.69
10,000 @ 18.75
5,564 @ 18.66

i was the little buy, 500 at 18.69. i only have 2.2k in my portfolio [up from 1900 in feb when i started] thats the trouble when you only have a small pot of cash as money you can afford to lose.
Alex

Hi Robert, 500 @ 18.69 = 93.45, how much commission and stamp did you pay also for this trade? I am looking at your buy in terms of what target you've got for these and expect that in reality your play will have to be long to make any money.

Just out of interest what other shares do you hold? I've;

Griffin Mining (GFM)
Fortune Oil (FTO)
World Television Group (WTV)
Sefton Resources (SER)
Stanelco (SEO)
William Ranson & Son (RNSM)
Chaco Resources (CHP)
Patsystems (PTS)
Ballarat Goldfields (BGF)
Providence Resources (PVR)
Mwana Africa (MWA) - Previously African Gold aquired by.

Explosive,
I pay 7.00 commision and no stamp [dont know why no stamp was taken, would have been about 50p] , total sale was 100 give or take a few pennies.[ i trade with the Hoods but execute only a/c, they were cheaper than halifax who were 12.5 per trade.
I hold SER,BGF,CHP,BLR,AIMR,GOO,PCM. BLR,AIMR,BGF are deemed long term holds[ie i am not planning on touching them again except to top if i get any spare cash from the riskier plan a] CHP,SER,GOO,PCM are plan a. Grab profits when they go up [i normally use 20% or more rise in SP as a guide for when to sell]and possibly buy back in the drops[ they are good enuf just to leave alone but i like the buzz of buying/selling[obviously wont sell if no profit as i havent the money to lose, the downfall of this plan is selling too early.]
PCM are only in bcoz of a gamble that failed as my computer went down when they were at .13p b4 the results came out. by the time my computer was back on line 30mins later they were down to .7p so am stuck with them.
This is a means of stress relief for me, my methods will undoubtedly never make me a fortune but it is fun. are you a serious player?
Alex

Hi Alex, I wouldn't consider myself as a serious player, currently I'm not working just trading however I do plan on returning to work as soon as I find a suitable position. Currently my portfolio is worth 9K+ however I haven't long ago taken profits. I also have a further 4K in a ISA far eastern fund account.

I see you like your oils 5 of 7 companies invested, AIMR a miner (on my watch list) and Pacific Media which I nearly bought into myself!! Not at all a bad portfolio for a 2.2K spend. I'll most probally sell SER and MWA within the next week or two as I consider better picking on the market AIMR a good example as is KEN and LTR.

Explosive,

Have bought and sold AIMR before and went back to it. if had stayed put then profits would be so much higher but i still made a profit so i'm not complaining. i want to top slice SER but need it to get over .55p per share to cover costs[ in at 0.5,0.53,0.55, this time around, was in at 0.45 and sold at 0.52 but i still like the share] i like the look of LTR and BRR but haven't any spare cash so will have to leave them on my watch list for now. [also these were noted favorably by uncle Tom B.]
Some of my earlier trades were commission free so i was able to buy and sell with smaller profit margins. my best deal was CHP in at 12.39p out at 17.84p back in at 15.72, net result i ended up with 500 more shares for no cost. they haven't exploded as much as everyone hoped so am now just sitting on them and waiting.
I am a little concerned with these South american countries renationalising their oil /gas industries. i hope they dont affect the S.American countries i have a vested interest in. i think i may have to go back looking to china again when some money frees up both GGG and SCR up again today. i would love to know what is going on with GGG up 15% y/day and at one stage today up 21%
regards
Alex

Moving again in the right direction.

Explosive,
bought some more bgf [only 750] as they were cheap. i believe the SP only down due to the main indices being down. imho shud push back towards 18-20p soon enuf and hopefully beyond. down as a long term buy.
have you topped up at this price?
Alex

Hi Alex, unfortunatly not been able to continue buying as I'm out of available funds until tomorrow when a DD will clear my broker account.

Explosive
looks like i bought a day too soon!
Are you in a position to mop up the discount yet, or are you playing the sensible waiting game[the one i have to learn it seems] ?
Alex

Funs now clear and I'm playing the waiting game, alot of good stocks that look cheap to me.

Back to break even!!



Gold still pushing up if looked at from a monthly average perspective.

A sharp peak and then fall in recent days, looks to me like the fall corrected the initial climb and were now see a gradual climb. If so sp should start moving next week with confidence of now further reductions in price.

I'm holding for now as surplus stock could further depress the sp.

looking at todays sp I feel we may have lost one or more of the trusts/funds invested in Ballarat. SP looks depressed to me and overhung, may take some time for the overhang to clear. Holding now as could well see another decline.

-10% gain to date, the market should bounce back though so holding until the fog clears.

Post made by doughboy66 on the CHP thread,

I think this proves what a good hold this will be.

FROM MONEYWEEK

commodities bubble, gold bullion, peak oil, gold reserves
Why commodities aren't in a bubble



24.05.2006


The consensus is that the commodities market is a bubble and that it has started to collapse.

This is how we see it.

Commodities bubble: is paper money better than gold?
Gold bullion has, following the recent sell-off, held above $680/oz. Golds initial $55 fall started on Thursday 12th May at a high of $730/oz and ended the Monday following at a low of $675/oz. Tuesday, Wednesday and Thursday the price held steady above $680/oz. There are strong hands at that price, otherwise prices would have escalated down further.

Of course, the market can make us all look foolish and it is quite possible that further price erosion could occur.

But has the world changed and do we now favour fiat money over real money? We dont think so!

Is it reasonable to expect the bull market in gold to have ended at $730/oz? We dont think so!

The gold price is set to go much higher unless the world economic conditions have suddenly changed beyond belief.

Morgan Stanley has produced some fascinating research concerning the worlds gold reserves, currently at the lowest level in history. On a percentage basis of total foreign reserves, they are as follows:

US 58.3%
Germany 42.0%
Netherlands 87.0%
Spain 15.0%
Austria 22.0%
Finland 77.0%
South Africa 24.0%
Belgium 20.0%
Italy 49.0%
Switzerland 38.0%
Great Britain 7.8% (thank you Gordon Brown for selling nearly all of our gold at less than $250/oz!)
Japan 1.8%
China 2.1%
Taiwan 3%
Singapore 1.7%
Indonesia 3.6%
Peru 3.9%
Russia 9%
Saudi Arabia 7.3%.

It is quite simple to deduce from this data that those nations with huge dollar reserves hold the least gold. It seems to us nigh-on certain that some of those Central Banks will prefer more gold and less dollars wouldnt you?

Explosive
whats the story with this one? off 5p a share since buying in. thought i might be safe with 'gold' shares. is this drop due to market uncertainty/A$ etc or something more fundamental? your thoughts please
Alex

I believe the drop is due to market uncertainty, nothing has changed with Ballarat and operations continue. Have yet to see any evidence that any of Ballarats major holders have sold. So far today we've seen 5000 buys against 0 sells and a 1.25 drop in the sp. This tells me MM's have reduced the sp in fear of further sales in gold. I really do think that these lows will be washed out in the next few weeks and the sp will return to its support level of 17-18p.

explosive
oh for some loose change to top up. still having trouble playing the waiting game. What do you make of SER at the mo. Was expecting good things but gone downhill quite spectacularly since i got in [.55,.53,.50]. do you still hold? i feel that iam stuck with them because of large loss[about 30%]
Alex

Hi Alex, Holding both BGF and SER. I've got just under 5mil in SER and as always its a waiting game. SER is very volitile so swings very quickly, I find the trick is to top up on the really lows and sell at between 20-30% profit on highs. You'll have to be patient though as when goes up never stays up long. SER is on a down trend now as its Tapia production has fallen, this should pickup come mid summer and the price should go up, patients is th name of the game so don't let lows draw you in to sell at a loss when theres no reason other than spuculation driving the price.

Explosive,
still holding but this is the only share i hold with any room to top slice but i need to wait until it goes up.
have bought/sold SER several times for a profit but never seen it slide this much, my top ups were obviously mistimed!!
ah well, we will just have to wait and see. with the results out soon[june time i believe] the SP should hopefully head north.
Alex

Hi Alex, looks like market speculation is once again driving SER. Be time to sell just before results are announced. We all know production has fallen and with expenditure going into gas there will be no profit but a small loss. With that in mind I'm looking to sell and rebuy when the price falls back to a bid of .30 or less.

BGF seams to have found support at 12.5, I am expecting another rise in the price of gold so should see the sp also rise within the week.

Explosive,
do you know the intended date for the results as want to time my sell right this time will settle for a small loss if i have to[as opposed to a big one].
BGF looking good value if i can free up some cash.

Do you have any thoughts on MNT? they have been thru the mill lately but look as though they shud go up from here on in.
have a good w/end
Alex

Alex had a quick look at MNT and to be honest I don't see the difference between it and a typical fund managed investment off the high street. Minmet are buying into businesses which they think will produce a return on money invested. I do exactly the same thing when buying shares only difference is theres no MNT cashing in on my profits. Also the portfolio is very high risk, how many of the companies invested in actully make a profit and pay a dividend? This company is trading on the basis that it will be able to sell to larger miners reserves its aquired, abit of a gamble if you ask me as many companies BGF included already have reserves and are busy building production or enhancing whats already there.

Regarding BGF results I believe we'll see these in August, there should also be a quarterly trading statement issued end of July. Commissioning is now complete and BGF should be producing a turnover. The sp has fallen due to timescales being put back slightly with the discovery of the Blue Whale fault. All in all though I'm happy to wait this one out, BGF had some $42.6m cash at 31st March '06 so plenty to fund production ramp up to 200,000 ozs p/a in 2008/9.

Big rush on Ballarat Gold
George Lekakis
02jun06

RECORD trading this week in Victorian gold miner, Ballarat Goldfields, has triggered speculation that a predator may soon launch a takeover for the company.

More than 93 million shares in the listed miner changed hands yesterday -- the highest turnover posted for the stock this year.
Since soaring to a peak of 50 two months ago, shares in the company sagged to a year low of 30 last Friday in the wake of the sudden slide in gold prices.

The company has averaged daily volume of about 6.6 million shares this year, but almost 140 million shares or 12 per cent of the issued stock have been traded this week.

Mystery surrounds the identity of a major buyer who acquired a parcel of 82 million shares yesterday.

The special sale was completed in afternoon trading at a price of 30.5.

Only three institutional shareholders held more than 82 million shares before the market opened yesterday.

That means the seller is likely to have been one of either JP Morgan, Merrill Lynch or US fund manager, Mason Hill Asset Management.

Ballarat Goldfields entered commercial production in December last year after the company secured sole ownership of mining leases for most of the Ballarat region in 2004.

The focus of its operations is an underground development in Ballarat East which is projected to have a mining life of 21 years with average annual production of about 200,000 ounces.

The company reported last month that development of the underground mine was being affected by poor ground conditions in weak fault areas.

However, the company said that it was still on track to reach optimal production targets by the middle of 2008.

Ballarat Goldfields was the most traded stock on the ASX yesterday and closed up 1c at 32c.

Explosive,
Topped up with some more BGF @12.9p, hope my timing is better than last time i bought in.[they dropped 4p a share then!!]
Fingers crossed for a t/over bid to help the SP[though i believe they will tick on their own merits in time anyway]
Alex

Sure will be ticking up Alex, by the end of this year production should be around the 100,000 ozs p/a. Lets discount gold at $500 an oz. Thats a $50mil turnover. The sp can only in the long term rise as risk is relatively low due to plenty of cash on hand. Even if were not at the 100,000 mark for year end I still don't see a problem as BGF is cash rich. BGF for me is a long play but for now I'm holding tight on increasing my investment as looking to get into FML also. Have a look, tell me what you think?

explosive,

had a look at the web site and looks like now is the time to get in. Some of the major players already in kazakhstan and making big profits so dont see why this one shouldnt be any diffferent. i haven't any spare cash as i sunk it into BGF y/day and as per usual it went down!! one for the watch folder

Alex

http://www.frontiermining.com/index.html

How low can it go? There must surely be some upside to this now, and how come sp rose on sale of 2.5million?

Depends on the price given on the 2.5m sale which justifies a price rise.... Price could fall further to 8p I think, hold tight and wait. I need to see news on production, fall is due to global gold prices falling which have been multiplied within stocks, some oversold. At 9p this becomes a buy for me once again.

Explosive,
I know this is not the SER thread but it seems to quite a quiet thread for us to talk...
I had 40% of my portfolio tied up in SER [went OTT on last top up looking for a quick profit and then the shares plummeted so I had no trading pennies at all and an overdraft because of my over zealousness[if there is such a word]
I sold some for the overdraft but got a poor deal from hoods[0.5 when elsewhere was 0.7p, my fault I asked for 'at best'. didn't do that the next time set a min of .95 and they gave me 1.0p maybe they felt guilty!]
The market then went wild so I sold some more out at 1.0p. I now have half my original holding. I bought some more CHP as I have been wanting to but not had the cash[catch 22 i think]
I have a little left over so will have a look on mon/tues to see if I can buy some more SER [ I will buy some more, just at what price. They will go up I'm sure but I am now not over drawn from spending money I shouldn't have.]
It was a tough call as to whether to buy CHP or more BGF but i think CHP has stablised a bit more at this time. what do you think?
Alex

Sorry to be dim, but why would you want to put your money in this company? It sure doesn't look very exciting to me, and by the looks of it has very low liquidity. Also, though it is not immedaitely visible, I would guess that its cap is also tiny.

If you want mining shares, then perhaps look at (in no order at all) ENK or KAZ or ANTO or POG for a safer bet and potentially better return, or at lest that is my view ..... By the way, I currently hold none of them!

Alex, think you made the right decision with CHP, I also hold and lots going on at the moment. A good pick I think from Sharesure. As for your sale in Sefton, again you have done very well, the sp has fallen so I wish you all the best your timing getting back in. Fingers crossed you've settled some debts and get a bargain with SER!!

Cynic, low liquidity, are you mad?? 136.6m market cap which I think is a good justification for this company. 1,188,150,000 sharers in issue equals an 11.49p sp. With a discounted 10% increase in gold global demand p/a I think organic growth alone should generate a good return.... Should the economy warm slightly even better and I personally think it will.... Also current sp is around 11.49p in high risk time for BGF, as soon as producing 100,000 ozs a year risk falls and so should see an increase in sp..... Yeah a risk but I think will out perform the likes of ENK etc. above. KEN also a good stock but not one I hold.

What a shit day for BGF, -10% but then and again as per my post on the 20th a fall in sp I thought would happen. I don't think this is quite over yet either and am looking to top up at 9p or below....

Might be a little quiet in the coming days, my Selftrade broker account has been updated and moved to another platform and its going to take me a while to figure it all out.... Can't even get simple data without lots of clicking like % increase today and bid price..... :-(

Explosive,
happy computing, hope you back on line soon
Alex

ASX and Media release: 5th July 2006


Top 20 Ordinary Shareholders


Ballarat Goldfields NL (BGF) advises that following the notice by Mason Hill
Asset Management dated 14 June 2006, ceasing to be a substantial shareholder,
the top 20 registered holders of ordinary fully paid shares as at 30 June 2006
are as follows:

Rank Name Units Held at % of Issued
end of period Capital
1 NATIONAL NOMINEES LIMITED 180,263,853 15.17
2 WESTPAC CUSTODIAN NOMINEES LIMITED 133,914,284 11.27
3 J P MORGAN NOMINEES AUSTRALIA LIMITED 107,249,482 9.03
4 ANZ NOMINEES LIMITED 68,382,595 5.76
5 HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 57,687,975 4.86
6 CS THIRD NOMINEES PTY LTD 53,063,263 4.47
7 HSBC CUSTODY NOMINEES (AUSTRALIA)LTD 40,910,597 3.44
8 INTERNATIONAL COMMODITY FINANCE LIMITED 32,438,266 2.73
9 CITICORP NOMINEES PTY LIMITED 25,697,282 2.16
10 NORTHCLIFFE HOLDINGS PTY LTD 24,600,000 2.07
11 COMPUTERSHARE CLEARING PTY LTD 22,163,942 1.87
12 RBC SECURITIES NOMINEES PTY LIMITED 20,354,612 1.71
13 FORTIS CLEARING NOMINEES P/L 13,602,084 1.14
14 ALCHEMY SECURITIES PTY LTD 10,000,000 0.84
15 MR COLIN SMITH + MRS ADRIENNE SMITH 9,990,000 0.84
16 MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LTD 6,467,066 0.54
17 MECHANISED MINING SERVICES PTY LTD 5,490,000 0.46
18 MR JOHN S HEWSON + MRS ROSEMARY HEWSON 5,400,000 0.45
19 RFC GROWTH FUND LIMITED 5,150,000 0.43
20 LOFIVA PTY LTD 5,045,490 0.42
Total Top Holders Balance 827,870,791 69.66

LONDON (AFX) - Ballarat Goldfields NL has increased its total mineral resources of gold at Ballarat East by 0.3 mln ounces to 1.4 mln oz, including an indicated resource of 0.24 mln oz.

This rise is due to the company finding higher gold grades at depth, the discovery of a significant new fault and upgrading of 240,000 oz into the 'indicated resource' category.

Ballarat managing director Richard Laufmann said: 'The inclusion of Indicated Mineral Resources from the drilling program at Ballarat East is a significant result, highlighting the ability to develop gold reserves at Ballarat East based on drill hole data.' newsdesk@afxnews.com tc

Explosive,
am bailing on BGF for a 40% loss as want to invest elsewhere and need some funds. i will keep on my watch list to see if anything will make me want to return to it in the future.
Alex

I bailed out too, not going anywhere fast, better opportunities elsewhere.

Just a quick question.

Does anyone know the anticipated cost of production per oz?

Not yet no

explosive,

With respect, how can you make an informed judgement if you can't work out the probable profit?

I like the story here, the mine is in effect under the town!, and this is an histrical site, and have wanted to invest for some time. I did notice the reference to "problems" in the workings delaying the startup, which probably accounts for at least some of the drop in SP.

I would like to know a little more before I made an investment decision, but am keeping this on the watchlist.

Probable profit can not be calculated at the moment as the mine and blue whale fault is still being logged. Under a month ago .4 million extra tones was added to reserve estimates. Cost of production can only be calculated once reserves and their grades have been fully mapped. I choose to invest based on the evidence so far, the strong financial position of BGF and the very good possibility that reserves will grow further as higher grades are uncovered. The initial production phase is only looking to produce 100,000 ozs of gold per year, theres plenty of profit and life in this mine. I just choose to get in early where as other investors way well make there play in 9 months time. Mine is early as I believe the gold price alone to reserves is enough to produce an early profit and further reserves will be found as the blue whale fault is fully mapped. You must remember that BGF is exploring and developing production together, this I believe when time comes to start producing will move the company straight into profit and should shunt the sp.

Of course do your own homework and only invest once your comfortable, I must stress though this play is a 3 year min play. You may choose to take advantage of the current low sp as I'm doing but don't expect to see a return just yet! I'll endevour to answer more questions if you have any but please be patient as quite often I don't post on the BB's if I feel I don't have anything further to contribute.

Alex - Good luck in your next play, a wild guess would be your moving all in on another oil & gas player!! I currently hold SER, RIFT, GOO, CHP, FTO, BLR within this market segment. Thats enough for me as try and keep a rounded portfolio.

Explosive,

Thaks for your informative reply.

I have been looking around their website, and found this very recent presentation given to the recent Diggers and Dealers Forum in Australia.

Click HERE

You may wish to include the link to the presentation in the header, as it's an excellent view of the state of the company right now.

Explosive,
you guessed right topped up on GOO.
Alex

Thanks for the link Andy, have added it to the title header. Would also be intrested to hear your views on BGF, as you've seen from the thread not alot of intrest however I have to wonder whats drawn you to this stock?

Alex, good choice, in GOO also and in profit so won't be topping up further unless the sp slips for no reason!! Good luck

RNS JUST OUT

Ballarat Goldfields NL
ASX and Media release: 7 September 2006

Please see our website www.ballarat-goldfields.com.au for the release complete
with pictures.

Ballarat East Revised Development Strategy

KEY POINTS

*Deeper higher grade gold Resources, influenced by and adjacent to the
Blue Whale fault, drive the revised development strategy.
*New plan expected to deliver gold at a rate of 250,000 ounces per annum
in 2009.
*Cash operating costs planned to fall below A$300/oz when in full
production.
*The Blue Whale fault to the north, as yet un-explored, provides enormous
upside potential from the new development plan.
*Estimated funding requirement of approximately A$120 million.
* Funding negotiations well advanced.

SUMMARY

Ballarat Goldfields NL (BGF) has undertaken a comprehensive review of its
development strategy for the Ballarat East project. The outcome is a new and
substantially superior development plan, which emphasises accelerated access to
the deeper, higher grade Resources. As a result, an increase of 25% in the
planned mine production rate should be achieved.

Early development in the upper levels of the mine encountered intermittent
geological features and unmapped historic mine workings, which negatively
impacted development advance rates and the availability of shallow ore sources.
The experience, from accessing these early stopes, lead to significant advances
in understanding the gold mineralisation of the field and, coupled with the
discovery of the higher grade features associated with the blue whale fault,
provided the framework for this review.

The new development plan, based on this strategy, incorporates:

* Relocating a proposed ventilation shaft to the southern end of the mine
and equipping it for haulage. This will provide faster access to higher
grade zones, whilst boosting haulage capacity and flexibility.
* The substantially higher grade of the deeper Resources allows BGF to
develop a production plan which delivers the higher production rate, of
250,000 ounces per annum, at a lower mining rate of 600,000 tonnes per
annum. In full production, cash operating costs are expected to be under
A$300/oz.
* The new plan brings forward major shaft and decline development and
by-passes upper level potential ore sources deferring 2007 production into
2008. This allows BGF to deliver higher production rates with increased
development flexibility in 2008.
* Enhanced understanding of the significance of the Blue Whale fault has
substantially improved the confidence in delineating further high grade
Resources. In particular, potential to the north is yet to be explored or
incorporated into the production plan.

The recent exploration results and the revised development plan at Ballarat East
put BGF in the enviable position of developing an exciting and truly
significant, low cost, long life gold project. The Blue Whale fault and its
implications for grade and extent of mineralisation at depth may prove to be one
of the most exciting discoveries in the history of the Ballarat field.

BACKGROUND

GEOLOGY

Exploration drilling at Ballarat East has continued to validate the geological
model. The June 2006 Resource estimate of 3.9Mt @ 11.3g/t for 1.4Mozs includes
an Indicated Mineral Resource of 0.6Mt @ 13.4g/t for 0.24Mozs. This was a 27%
increase over the previous Resource and deeper drilling continues to delineate
zones of mineralisation with gold grades higher than the historical average from
the upper level mines. Our success in using the model to target resource
drilling demonstrates our ability to convert Exploration Potential to Resource.



Figure 1: June 2006 Resource, 1.4Moz (colour), with Exploration Potential (grey)
and the Blue Whale Fault

Earlier this year, drilling at depth intersected the largest fault ever
discovered in Ballarat. Named the Blue Whale fault, we now have over 20
intersections confirming its size and location. This presents tangible evidence
that it may have been the pathway for gold mineralisation for the entire
Ballarat East field.

Historically, the size of fault offset was directly related to the size of
associated gold lodes. The Blue Whale fault, with an offset of over 100 metres,
appears to be up to 5 times larger than the historically largest producing
faults in the field. The fault has been intersected at a depth of 600 metres
below the surface at the southern end of Ballarat East. Only a small section of
its available strike length has been drilled and, already, a Resource of 0.3
million tonnes @ 20.6 grams per tonne for 0.2 million ounces has been delineated
adjacent to the fault.

Our main target area lies to the north in an area not yet explored. The surface
projections of these targets correspond to the largest and most prolific
original alluvial workings, and lie beneath the highest concentration of
historic underground gold production.


Figure 2: Schematic diagram illustrating the Blue Whale fault (shown in blue)
dipping beneath the historical workings to the west. View looking from the
north-west.

Due to the nugget effect (very coarse gold) and the style of mineralisation in
Ballarat, the economics of mining at Ballarat East will be improved by
developing a more detailed understanding of the nature and timing of the quartz
veining.

Recent detailed geological mapping of the first stopes has revealed new
information, potentially enabling BGF to differentiate between high grade and
low grade mineralising events and associated quartz veins.

This discovery suggests there are several identifiable generations of quartz
veining, and that the high grade coarse gold is associated with flat to east
dipping veins that extend away from the large west dipping faults. The high
grade quartz veins are also recorded in the historical literature when detailed
mapping of the vein sets has been illustrated (Figure 3).



Figure 3: Cross sections showing the relative position of high grade zones and
generic drill plan to define reserves. The historical section shows similar
features from the Last Chance mine "pug lode" (after W. Baragwanath, 1923;
Geological Survey Report, Memoir 14, Figure 58).


REVISED DEVELOPMENT STRATEGY

The framework for a comprehensive review of the development strategy was
provided by growth in the Resource base, higher gold grade at depth, the
discovery of the Blue Whale fault and experience gained from access to the first
stopes. This led to changes in the development plan to focus on accessing the
higher grade zones at depth, whilst prioritising development to Resource blocks
well below the historical workings.

The new plan has additional haulage capacity, achieved by relocating the planned
ventilation intake shaft to a position close to both the decline portal and the
processing plant and equipping the shaft for haulage. This will provide earlier
access to the deeper high grade areas at the southern end of Ballarat East,
including the Blue Whale fault.

The original development plan, outlined in the June 2004 pre-feasibility study,
used twin access declines in the upper levels of the mine to provide drilling
platforms, haulage and ventilation, and 4 internal declines equally spaced along
the strike of the field to access ore horizons. (Figure 4)

The decline system was to be supported by two ventilation shafts, the
now completed North Prince Extended exhaust shaft, at the southern end of the
field, and a proposed air intake shaft at Golden Point, approximately midway
along the strike of the field.

The plan was effectively a generic development plan based on a uniform grade
profile and designed to fully develop the field whilst accurately estimating the
decline development required. Initial production from the upper levels was to
fund the ongoing development of the mine.


Figure 4: 2004 Pre-feasibility development plan.


The new development plan is similar in concept to the previous plan utilising
decline access to all planned mining areas with production using mechanised
stoping methods. The overall underground mine development metres are similar in
both plans but the new plan brings forward major shaft and decline development
prior to production ramp-up.

The main intake ventilation shaft, now planned to be located in the
south, will be developed to a depth of 600 metres below surface and is expected
to take 9 months to complete. Further development in the lower levels, which is
expected to take around 9 months, will be required prior to hauling the first
ore. Exhaust ventilation is provided by raises from the mining zones to a
collection drive (Sulieman decline) which is connected to the exhaust
ventilation shaft. This drive will also provide a diamond drilling platform for
Resource definition.

The new decline layout is expected to provide more efficient access to the
Resource with development rescheduled to provide more rapid access to the higher
grade blocks located below 400 metres depth.


Figure 5: 2006 design, ventilation shaft moved south and First Chance decline
now 200m below the Sulieman decline.

PRODUCTION SCHEDULE

The revised production schedule targets an annual production rate of 250,000
ounces in 2009 from 600,000 tonnes of ore. It achieves this by prioritising
access to the higher grade Resources, defined below the historical workings,
with estimated head grade rising from around 9g/t in 2008 to around 14g/t in
2010. This compares to an estimated 8.4g/t in the original plan. The throughput
rate matches the current installed capacity of the processing plant, 600,000
tonnes of ore per annum.

The revised plan based on Resource and Exploration Potential gives a 20 year
mine life delivering over 14 million tonnes of ore. Using the Exploration
Potential grade of 8.4g/t, recovered to the surface, this would produce
approximately 4 million ounces during the life of the mine.

The impact of the Blue Whale fault and higher grades at depth is not yet
reflected in our published Exploration Potential and we expect to update these
calculations in the coming 18 months.


Figure 6: Production estimates from the revised Ballarat East development plan.


Figure 7: Major underground development overlaying current Resource plan.

FUNDING REQUIREMENT

The new development plan now brings forward major mine infrastructure prior to
ramping-up production. The funding required for the new plan is estimated to be
approximately A$120 million. This covers the accelerated development of the
southern shaft, all decline and mine development and additional surface
infrastructure.

BGF intends to implement an appropriate financing structure which complements
business risk and aims to fully fund the project until it is producing a
positive cash flow, expected in 2008.

BGF is currently in advanced negotiations with potential funding providers and
will provide further details once the structure and timing is determined.

Note:

The information in this report that relates to Exploration Results, Mineral
Resources and Exploration Potential is based on information compiled by Mr
Steven Olsen. Mr Olsen is an employee of Ballarat Goldfields NL, is a member of
the Australian Institute of Mining and Metallurgy and is a Competent Person
under the definition of the 2004 JORC Code. The Exploration Potential described
above is conceptual in nature, and there is insufficient information to
establish whether further exploration will result in the determination of a
Mineral Resource. Mr Olsen consents to the publication of this information in
the form and context in which it appears. The terms Exploration Results, Mineral
Resources and Exploration Potential are used in accordance with their
definitions in the 2004 JORC Code, which is available at www.jorc.org.


The future estimates, forward-looking statements and any other prospective
financial information set out in this document by Ballarat Goldfields NL are
inherently uncertain, are predictive in nature, may be affected by inaccurate
assumptions or by known or unknown risks and uncertainties, and may therefore
differ materially from results ultimately achieved or events ultimately
occurring. None of these estimates or statements is or will be or is intended to
be a representation or warranty as to any future matter on which any person can
rely.


For further information, please visit our website www.ballarat-goldfields.com.au
or contact Joel Forwood, Manager Corporate and Markets, on 03 5327 1111



This information is provided by RNS
The company news service from the London Stock Exchange

explosive

There does not seem to be much interest in BGF I got in 2 months ago thinking they have a lot of potential and a positive RNS today do you still think the same ?

Explosive,

Am I reading this correctly, 2007 production startup has been deferred until 2008?

Hi Andy

I only had time to have a quick read, had a lot on to day. a positive Rns I thought ! 2008 TO deliver higher production rates! but did not read it all yet,
Do you hold BGF ?

smiler o,

Not at the moment but it is on the watchlist.

If however, If I am interpreting the RNS correctly, and production start has been delayed, I would view that as a negative for now.

Andy

Thanks for that, I guess its just better than the RNS; I have had to read lately on oxs & aen ! ! hopefully one to look forward to !

Smiler o,

The price is down 10% today, -1p, on no volume.

I wonder if my interpetration of production being delayed a year is correct?

Andy

I think your right, I have been keeping an eye on them, I need to sell oxs to get some more funds,could be a long wait, I hear you saying !! any more thoughts on them ?

Production is set for 2008-2009 yes. I am expecting to see higher reserves and better grades as the blue whale fault is fully mapped.

250,000ozs per year @ $300oz cost. @ $500oz current discount price thats $200oz profit equating to $50mil profit p/a. (Personally I think gold prices will rise further).

Director buys also today a good sign the boards happy. Price took a slip from earlier in the year to production slipage. DYOR of course.

Updated the title footer and added some links to important info.

Off to Antwerp in a few hours, back in a week.

explosive,

"I have to wonder whats drawn you to this stock?"


I have only just seen this question which you asked a few posts back, so apologies for not answering sooner.


I guess the first thing that attracted me to BGF was the historical link, and that the mine is actually under the town!

But the main reasons I am watching BGF is that the company ticks quite a few important boxes for me;


I currently prefer near to production small mining stocks.

I have a preference for gold and zinc, as I believe the price of both has much further to rise, particularly AU, if some of the doom and gloom re the US $ comes to pass.

I prefer low cost producers,

I perefer the country to be politically stable, and am currently avoiding FSU, (although I am excepting AVM in Tajikistan, but even that is currently only on the watchlist).

I want companies that have potential to expand the resource.


Naturally, the delay in production startup by a year is disappointing, even though there is a good reason being spun out to cover it.

I had read previously that they had some problems in the mine itself, so this at least partially confirms those rumours I guess.

BGF remains on the watchlist, and I feel it will stay there until such time as production startup approaches, and I am happy I resisted the temptation to chase the price when it rose earlier this year.

watch and come back in a year I'd say.

steveo,

I agree.

RNS - 2,500,000 shares issued at 4.72 Australian cents! (around 2.25p)


Ballarat Goldfields N.L.
18 September 2006

BALLARAT GOLDFIELDS NL
Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B


New issue announcement,

application for quotation of additional securities

and agreement


Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX's property and may
be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/
2001, 11/3/2002, 1/1/2003.



Name of entity
BALLARAT GOLDFIELDS NL

ABN
50 006 245 441


We (the entity) give ASX the following information.



Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough
space).

1 +Class of +securities issued or to be issued Fully Paid Ordinary
Shares
------------------------
------------------------
2 Number of +securities issued or to be issued (if 2,500,000
known) or maximum number which may be issued ------------------------
------------------------
3 Principal terms of the +securities (eg, if Fully Paid Ordinary
options, exercise price and expiry date; if Shares
partly paid +securities, the amount outstanding ------------------------
and due dates for payment; if +convertible
securities, the conversion price and dates for
conversion)

------------------------
4 Do the +securities rank Yes
equally in all respects from
the date of allotment with an
existing +class of quoted
+securities?

If the additional
securities do not rank
equally, please state:

the date from which they
do

the extent to which they
participate for the next
dividend, (in the case of a
trust, distribution) or
interest payment

the extent to which they
do not rank equally, other ------------------------
than in relation to the next
dividend, distribution or
interest payment

------------------------
5 Issue price or consideration 4.72 cents
------------------------
------------------



This puts a little bit of extra cash in the coffers, I suppose, but it's annoying ofr a PI to see this going through at such a low price.

whats happened to the SP. i bailed out at 11p with a big loss, glad i did.
Alex

same here, would like to get it back one day, but that day is a way off yet!!

I'll sit tight on my holding I think, confident these will turn around nearer to production too. May even buy further stock with the lows. Should have been out when I was 30% up, oh well this is trading.

I picked this up on another BB, and it doesn't read too well IMO!


http://www.minesite.com/storyFull5.php?storySeq=3808

Minews Story Date: September 21, 2006

Ballarat Goldfields Finds Major Fault In Its Plans

By Rob Davies

One of the worst things that can happen to a mine geologist is to discover something totally unexpected. And when that thing radically changes everything you thought you knew about the deposit you know that the next conversation with the mine manager is going to be tricky. Such must have been the feeling of the chief geologist of AIM and ASX listed Ballarat Goldfields when he discovered the existence of the Blue Whale Fault. Apparently this is the largest fault ever discovered in the field and is described as having a significant impact on the gold mineralisation of Ballarat East.

A seasoned observer might interpret that as saying that it completely changes everything the geologists thought they knew. In any event it has had a dramatic effect on the mine. Production will not now start until 2008 and the mine plan is being drastically revised and will cost an additional A$92million to implement. To try and ameliorate all this bad news the company did say that the resource has been increased by 27 per cent to 1.4 million ounces and that when production does start it will be 25 per cent more than it promised before. It is important to remember that this is a resource and not a reserve. The nuggety and erratic nature of gold distribution in the quartz veins means that the normal standards applied to generate an ore reserve cannot be used in this location.

Moreover, it only tells part of the story because the company has discovered it actually had less gold in the upper levels as a consequence of earlier mining being more extensive than first thought. That means the addition of new resources must be substantial to compensate for the losses and increase the overall figure. A table to reconcile the changes to resources would considerably help analysis of all these changes. In any event details about precisely where and how much ore there is hasnt stopped the company building a mill and sinking shafts and declines to access the gold it thinks is there, or was before the fault moved it many millions of years ago. The corporate video still refers to the mill starting at the end of 2005 so the scale of the setback and changes is large in anyones language.

Despite these problems the market still thinks the company is worth 100million, albeit that is less than half the value it was at the peak. But for that you get a mill worth A$30million in the books and A$26million of cash. Unfortunately, you still get pretty much the same management team. True, Colin Smith is no longer Chairman. He has been farewelled into retirement, a creative use of the English language that almost matches the companys geological expertise. He is replaced by Alastair Maitland who moves up from non-executive director, but the rest of the technical team is intact.

A schoolboy error this team has made is to underestimate the amount of gold removed by previous miners in times past. This is a factor that many miners have experienced when opening up old workings. By going deeper the miners will avoid these voids, and expect to encounter higher grades, but the cost and delay of the extra work will have a big impact on the valuation of the mine. How much of that is priced in to the shares is probably still a matter of debate. The company didnt return calls to elaborate on these issues.

very grim reading, not going to be much support for these now.

steveo,

I agree, they could fall a tad more yet IMO.

I will wait until closer to production, as I feel they will fall further.

followed this for some time as a fan of Aus but this is looking like the typical description of a small miner " a hole in the ground into which money disappears"

maddoctor,

LOL!


RNS out today!


Ballarat Goldfields arranges 100 mln aud debt facility
AFX


LONDON (AFX) - Ballarat Goldfields NL said it has a non binding term sheet in place for the provision of a 100 mln aud delayed-draw financing facility which, when combined with current cash, will provide the required 120 million aud funding to implement the improved development plan for Ballarat East.

The debt facility is being arranged by RFC Corporate Finance Ltd and is subject to a number of conditions, including third party due diligence, final credit approval and legal documentation.

Ballarat said the new development plan for Ballarat East provides greater certainty to production and cash flows by bringing capital development forward.

newsdesk@afxnews.com

rw



COPYRIGHT



Copyright AFX News Limited 2005. All rights reserved.

Hi Andy . may come good one day.

Well we all read it differently I suppose, the article doesn't mention higher grades found within the fault or the increase in company reserves. Oh and Andy you posted only half of the RNS, the rests below.

As stated previously, the new development plan for Ballarat East provides
greater certainty to production and cash flows albeit by bringing capital
development forward. Highlights of the improved development plan (more detail is
provided in previous announcements) include:

* greater certainty to achieve higher production rates of around 250,000
ounces of gold per annum (previously 200,000 ounces per annum) with
increased flexibility to deliver a consistent production tonnage to the
process plant;

* concurrent access to the substantially higher grade gold mineralisation
at depth, in the southern and northern areas, by re-locating a proposed
ventilation shaft to the southern end of the mine and equipping it for
haulage;

* cash operating costs falling below A$300/oz when in full production;

* conservative rates of development for underground access and shaft
construction given the successful completion of the North Prince Extended
ventilation shaft in 2005 and on-going development experience;

* by-passing potential upper level ore sources, above the base of the
historical workings, which are proving to be difficult to access and
unreliable for consistent large scale production. These areas may provide
a supplemental ore source at modest production rates once full scale
production has commenced; and,

* the ability to carry out resource definition drilling well ahead of
production.

BGF is committed to the improved development plan for Ballarat East and will
provide further details on the debt facility once it is finalised.

At todays prices in '09 we'll be producing 250,000 ozs gold p/y at a cost of under $300 per oz. Cost of production p/y $75m, price of gold today $576.2 per oz. At todays prices turnover would be $144m, less cost of production profit would be $69m p/y. Just a thought!!

http://www.theage.com.au/news/business/talks-boost-ballarat-goldfields-hopes/2006/10/13/1160246327180.html

Trading halt, merger!

explosive, I already hold whats your thoughts ?? back up to 10p i see

BALLARAT'S chances of being revived as a major goldfield have received a boost, with project owner Ballarat Goldfields (BGF) placed in a trading halt pending the outcome of "merger" talks with an unnamed suitor.

Favoured speculation among brokers was that the world's biggest gold producer, Barrick, could be about to make a 30-a-share takeover bid, valuing the company at $360 million.

Other tips for potential suitors included St Barbara and South Africa's Gold Fields.

Fellow Victorian gold producer Perseverance was ruled out because it has its hands full with its takeover of Stawell goldminer Leviathan. CSM was also ruled out because of its focus on expanding its nickel business.

The takeover talks follow the collapse of BGF's share price after its revelation in early August that it needed to raise $100 million to develop a bigger and better redevelopment of the old goldfield, one based on bypassing old workings altogether.

RFC Corporate has been working on raising the required $100 million.

re post 146 got that wrong then!! ;o(

Looks good to me! Stability with growth at times of high prices..

LONDON (Mineweb.com) --ASX and NASDAQ listed Lihir Gold, operator of Papua New Guineas major gold mine producing close to 600,000 ounces a year, has announced a proposal to merge with ASX listed Australian gold producer, Ballarat Goldfields. The merger, recommended by the Directors of both companies, would give PNGs major gold producer a foothold in the Australian gold mining sector too.

Lihir operates the mining operation of the same name on Lihir Island and is southeast Asias most productive gold mining operation after Freeports Grasberg copper and gold mine in Indonesia. After a setback in output due to a serious landslip in 2005, the mine is planning an expansion to some 800,000 ounces a year over the next two years.

The current strength in the gold price has given Lihir the financial muscle to expand its operations into Australia with the Ballarat merger and the cash availability to see the latters current expansion plans through to fruition.

According to the joint statement from the companies to the Australian Stock Exchange, The combined company will have two world class assets in Australia and Papua New Guinea, a strong growth profile, reducing costs and significant exploration opportunities. The company is expected to achieve annual gold production of more than 900,000 ounces in 2008, around 1 million ounces in 2009, and well in excess of 1 million ounces per annum thereafter.

Importantly, the transaction also will secure the future of the Ballarat operation by providing the financial resources required to take the project to full development.

The merger will be achieved through a scheme of arrangement under which Ballarat shareholders will receive 5 Lihir shares for every 54 Ballarat shares held which equated to a value of 28.8 cents per Ballarat share based on prices at the close of trading Monday.

The offer thus values Ballarat at $350 million representing a 28% premium. The combined company would have a market capitalisation of more than Aus $4 billion, with Ballarat shareholders holding approximately 8% of the combined group.

Lihir CEO Arthur Hood would be CEO of the merged company, while Ballarat Chief Executive Richard Laufmann will be appointed as the companys Executive General Manager Australian Operations and Business Development, and will continue to be directly responsible for the Ballarat operation.

The corporate head office of the combined entity will be in Brisbane and operational headquarters of the Ballarat mine will remain in Ballarat.

Ballarat's directors intend to unanimously recommend that shareholders vote in favour of the scheme in the absence of a superior proposal with the usual provisos.

Lihir has stated that is committed to the development of the Ballarat East gold project in accordance with Ballarat's development plans over the next 18 months which have been previously announced to the market. To cover interim funding requirements, Lihir has agreed to provide Ballarat with A$41.7 million through the unconditional subscription for 149 million Ballarat shares at 28 cents per share.

Lihir Chairman, Dr Ross Garnaut, said that for both Lihir and Ballarat, the merger was compelling. The deal creates genuine value for shareholders of the merged group, by creating a Tier One Asia-Pacific gold producer with strongly growing production, he said.

source http://www.mineweb.net/gold_silver/293438.htm

Snippet from Minesite!

-----------------------------

Shares in Ballarat Goldfields (AIM: BGF) rose 37 per cent to 10.3p thanks to an announcement that it has entered into merger discussions. No other party was identified, but an update is expected on Tuesday of next week.

RNS Number:8557K
Ballarat Goldfields N.L.
23 October 2006

BALLARAT GOLDFIELDS NL
Notice of Annual General Meeting

Notice is hereby given that the Annual General Meeting of the members of
Ballarat Goldfields NL ('the Company') will be held at the Ballarat Lodge, 613
Main Road, Ballarat at 10.00 am on Tuesday 28 November 2006.

RESOLUTION 1: Consider Accounts and Reports

To consider the Directors' Report, Financial Report and the Auditor's Report for
the year ended 30 June 2006.


RESOLUTION 2: Remuneration Report


To consider, and if thought fit, pass the following resolution as an ordinary
resolution:


"That the remuneration report section of the director's report for the Company
for the year ended 30 June 2006 be adopted."

RESOLUTION 3: Re-Election of Dr Etheridge

To consider, and if thought fit, pass the following resolution as an ordinary
resolution:

"That Dr Mike Etheridge be re-elected as a Director (Dr Etheridge retiring by
rotation in accordance with the Company's Constitution and being eligible,
offers himself for re-election)."

RESOLUTION 4: Re-Election of Mr Ozga

To consider, and if thought fit, pass the following resolution as an ordinary
resolution:

"That Mr Wojciech Ozga be re-elected as a Director (Mr Ozga having been
appointed as a casual vacancy to the Board since the last annual general meeting
and, as a consequence of his mandatory ceasing to act as a Director and being
eligible, offers himself for re-election)."


RESOLUTION 5: Approval of Previous Share and Option Issues

To consider and if thought fit pass the following resolution as an ordinary
resolution:

"That for the purposes of ASX Listing Rule 7.4, the Company approves the
previous issue of 173,030,611 fully paid ordinary shares and 2,300,000 options
to the persons and on the terms set out in the Explanatory Notes."


By Order of the Board



Amber Rivamonte

Secretary

23 October 2006

VOTING EXCLUSIONS

In relation to the following resolutions, the Chairman will disregard any votes
cast on the resolution by or on behalf of the person named below and an
associate of such persons when determining the result of the resolution except
where:


* the vote is cast by a person as a proxy for a person who is entitled to
vote, in accordance with the directions on the proxy form or,
* it is cast by the Chairman as a proxy for a person who is entitled to
vote, in accordance with a direction on the proxy form to vote as the proxy
decides.

Resolution 5 - Each person who participated in the issue.


PROXY NOTES

1. For the purpose of the meeting the Company has determined
that securities will be taken to be held by the persons registered as holders as
at 7.00pm on 26 November 2006. Accordingly, transactions registered after that
time will be disregarded in determining entitlements to attend and vote at the
meeting.

2. A member entitled to attend and vote at a meeting is
entitled to appoint not more than two proxies to attend and vote on his/her
behalf. Where more than one proxy is appointed, such proxy must be allocated a
proportion of the Member's voting rights. A proxy duly appointed need not be a
member. The proxy form and any documents necessary to show the validity of the
form must be lodged with the Company's Share Registry by 10:00am on 26 November
2006, being not less than 48 hours before the appointed time of the Meeting. Any
proxy lodged after that time will be treated as invalid.

3. Corporate shareholders should note that unless the
corporate shareholder:

(a) completes and lodges with the Company's Share Registry a
valid appointment of proxy in accordance with the instructions contained herein;
or

(b) completes and either lodges with the Company's Share
Registry no less than 48 hours prior to the meeting a form of Appointment of
Corporate Representative in accordance with the provisions of Section 250D of
the Corporations Act properly signed; or

(c) has appointed an attorney;

and such proxy, corporate representative or attorney attends the relevant
meeting, then such corporate shareholders will be unable to exercise any votes
at the relevant meeting.

EXPLANATORY NOTES


RESOLUTION 2: Remuneration Report


A listed entity is required to put to the vote a resolution that the
remuneration report section of the director's report be adopted. This
remuneration report can be found in the 2006 Annual Report sent to shareholders
which accompanies this notice of meeting on pages 19 to 27. It sets out a range
of matters relating to the remuneration of directors, the secretary and senior
managers of the Company. A vote on this resolution is advisory only and does not
bind the Directors or the Company.

RESOLUTION 3: Re-Election of Dr Etheridge

Dr Mike Etheridge has been a non-executive director of the Board since August
2004. He retires by rotation in accordance with the Company's Constitution and
being eligible, offers himself for re-election.


Dr Etheridge (aged 60 - PhD, FTSE, FAIG) is a geologist with over 30 years
experience in exploration, mining, consulting and research. He has specialised
in the structural controls on the localisation of mineral deposits, and has been
involved with Victorian gold deposits since the mid-1970's. Until 2004 he was
Chairman of SRK Consulting (Australasia), having co-founded its predecessor
Etheridge Henley Williams in 1990. He is also an Adjunct Professor at Macquarie
University, where he leads an industry collaborative research project into
improving the management of risk and value in mineral exploration. His other
current directorships include being chairman of TSX-V listed Geoinformatics
Exploration, Inc, a director of Consolidated Minerals Limited and the AIM listed
Ariana Resources Limited and the unlisted geothermal energy company, Scopenergy
Limited.

RESOLUTION 4: Re-Election of Mr Ozga

As announced to ASX on 16 June 2006, Mr Wojciech Ozga accepted an offer and
joined the Board as an executive director. His continued role as a director is
subject to shareholder approval and, being eligible, he offers himself for
re-election.

Mr Ozga (aged 57 - B.Eng (Mining)) is a mining engineering with 34 years of
experience spanning many countries, including extensive experience in operations
and project management. He joined the Company as General Manager in September
2005 and is currently Director of Operations. Prior to this, Mr Ozga spent 2
years in Kazakhstan as Director of the Zurdal mine Kazakhstan Operations for the
AIM listed Celtic Resources Holdings plc, where he was responsible for
production from two heap leach operations and construction of the processing
plant and underground mine development. He has also been employed by WMC Limited
for 14 years as General Manager Central Norseman and Group Manager Mining
Projects where he managed the Olympic Dam mine expansion.



RESOLUTION 5: Approval of Previous Share and Option Issues


The ASX Listing Rules restrict the number of securities which a listed entity
may issue in any 12 month period without the approval of shareholders to 15% of
the number of shares on issue at the start of the period subject to certain
adjustments and permitted exceptions. The passing of this resolution will enable
the Company at any time during the next 12 months to issue up to virtually the
full 15% without further reference to shareholders and without the shares and
options described below counting towards this calculation. The resolution
confers considerable flexibility on the Company in meeting any short-term
requirements for raising additional capital should it be necessary.


Details of the fully paid ordinary shares and options issued and for which
approval is sought are as follows:


(a) 1,855,999 shares at 25 cents per share to Investec
Bank (Australia) Limited on 21 February 2006, being an amount of $463,999.75,
representing the conversion of part of a loan facility the Company had with
Investec Bank (Australia) Limited;

(b) 22,174,612 shares at 25 cents per share to Investec
Bank (Australia) Limited on 26 April 2006, being an amount of $5,543,653,
representing the conversion of all outstanding principal and loan amounts in
respect of the loan facility the Company had with Investec Bank (Australia)
Limited;

(c) 149,000,000 shares at 28 cents per share to Lihir
Australian Holdings Pty Limited on 20 October 2006, being an amount of
$41,720,000, to raise funds to be applied to the Ballarat East gold project; and

(d) 2,300,000 options expiring on 30 September 2011
exercisable at 20.5 cents issued on 22 September 2006, to 8 senior employees
pursuant to the Company's Option Plan announced to ASX on 22 September 2006.

END

The generic proxy form is available at the website
for viewing www.ballarat-goldfields.com.au


This information is provided by RNS
The company news service from the London Stock Exchange

Just found out once the deals done I'll no longer be able to hold these within my nominee account self trade. So need to get out before forced. This adds up to real bad luck and I expect now to take a loss. :-(

Ballarat Goldfields N.L.
28 November 2006

Ballarat Goldfields NL

ASX and Media release: 28 November 2006

Chairman's Address - AGM 28 November 2006

Thank you all for coming to today's meeting. This past year has been a
significant one for Ballarat Goldfields NL, culminating in the announcement of
the proposed merger with Lihir Gold Limited (Lihir). In essence the merger with
one of Australia's leading gold producers will allow the plans we have for
Ballarat Goldfields to be funded thus ending any uncertainty about the Company's
ability to raise the $120m needed to develop the Ballarat East Project. The
Company post merger will have the capacity to advance our extended portfolio of
exploration projects, including Ballarat South, Ballarat West and Berringa.

As noted in the Annual Report, your Company delivered on the objectives set for
the year to June 2006 and in the process a number of significant milestones were
achieved that underscored our belief in the longer term prospects for Ballarat
Goldfields. Considerable investment in the exploration program, coupled with the
greatly increased understanding of the mineralisation at Ballarat East, led to a
significant increase in our previously reported Resource estimate to 1.4 million
ounces of gold.

We have continued to develop the underground mine and completed construction of
most of the major surface infrastructure including stage one of our 600,000
tonne per annum processing facilities continuing our transition from explorer to
producer.

Our focus remains on the evolution of our geological model in order to generate
long term value and this year crucial information, derived from this process and
our early stope development, has enabled us to prioritise and better target our
exploration and development activities. This has led to a change in our mine
plan to focus on the higher grade mineralisation at depth and includes an
increase the Company's target output from the Ballarat East field from 200,000
to 250,000 ounces per annum.

The proposed merger with Lihir by a scheme of arrangement, whereby Ballarat
Goldfields would become a wholly owned subsidiary, ensures that the funding of
the $120m development plan for Ballarat East goes ahead. It also means that the
management, staff and contractors currently working with Ballarat Goldfields
will continue to be employed and that this important economic activity for
Ballarat and the Victorian economy will continue. The Managing Director will
further explain the very sound rationale for this move.

All in all a very satisfactory year and the merger with Lihir ensuring that the
full potential of Ballarat Goldfields can be realised.

Before asking Richard Laufmann to speak I would like to record the Board's and
Management's appreciation of the role played by Colin Smith the previous
Chairman of your Company. Colin made an exceptional contribution to the
development of Ballarat Goldfields and his unwavering enthusiasm in the future
of the Company ensured that we reached the stage we are at today. We all wish
him well in his retirement.

END

explosive,

Hard Luck.

Out of interest, as Lihir are ASX and NASDAQ listed, why can't they be held in an ISA?

Andy - If I'm correct only stocks traded on the FTSE can be held in an ISA. I put it down to experience and move on, no point hanging around to if the sp will recover slightly as theres other good shares going cheap at the moment. Should anyone be holding then best of luck but for me its pastures green!

Ballarat Goldfields N.L.
15 December 2006


ASX and Media release: 15 December 2006


Ballarat Goldfields and Lihir Gold Proposed Merger -
Court Approval


Ballarat Goldfields N.L. (Ballarat Goldfields) is pleased to announce that the
Supreme Court of Victoria today has made orders convening a meeting of Ballarat
Goldfields shareholders (Scheme Meeting) to consider the Scheme of Arrangement
for the company's proposed merger with Lihir Gold Limited (Lihir), that was
announced on 17 October 2006.

ASIC is being asked to register the Explanatory Statement for this purpose,
which will be the subject of a subsequent announcement.

The Explanatory Statement will be mailed to Ballarat Goldfields shareholders by
12 January 2007 to provide them with relevant information necessary to determine
whether to vote in favour of the merger at the Scheme Meeting that will take
place on 12 February 2007 in Ballarat.





For further information, please visit our website
www.ballarat-goldfields.com.au

or contact Joel Forwood, Manager Corporate and Markets, on 03 5327 1111

Ballarat Goldfields N.L.
18 December 2006

BALLARAT GOLDFIELDS NL
ASX and Media release: 18 December 2006


Ballarat Goldfields and Lihir Gold Proposed Merger -

Release of Explanatory Statement


Ballarat Goldfields N.L. (Ballarat Goldfields) is pleased to announce that on
Friday 15 December 2006 the Supreme Court of Victoria made orders convening a
meeting of Ballarat Goldfields shareholders (Scheme Meeting) to consider the
Scheme of Arrangement for the company's proposed merger with Lihir Gold Limited
(Lihir), that was announced on 17 October 2006.


Explanatory Statement and Scheme Meeting

ASIC has subsequently registered the Explanatory Statement for this purpose and
a copy follows. This will be mailed to Ballarat Goldfields shareholders by 12
January 2007 to provide them with relevant information necessary to determine
whether to vote in favour of the merger at the Scheme Meeting that will take
place on 12 February 2007 in Ballarat.


The Explanatory Statement is also available on the Ballarat Goldfields website
at


www.ballarat-goldfields.com.au



Directors' Recommendation

The Directors of Ballarat Goldfields unanimously recommend that, in the absence
of a superior proposal, Ballarat Goldfields shareholders vote in favour of the
proposed merger as they believe it will deliver significant value to Ballarat
Goldfields shareholders. Ballarat Goldfields Directors (all of whom hold
Ballarat Goldfields shares) intend to vote their shares, and any proxies cast at
their discretion, in favour of the merger.


Scheme Consideration

Under the terms of the Scheme, Lihir will acquire all of the shares in Ballarat
Goldfields with Ballarat Goldfields shareholders receiving 5 New Lihir Shares
for every 54 Ballarat Goldfields shares held.


Independent Expert

An independent expert's report from Grant Samuel & Associates Pty Ltd (Grant
Samuel) has assessed the proposed merger and has concluded that, on balance, the
Scheme is in the best interests of Ballarat Goldfields shareholders.


Next Steps

Ballarat Goldfields shareholders will be asked to vote at the Scheme Meeting,
which will take place at 10.00am on 12 February 2007 at the Ballarat Lodge, 613
Main Road Ballarat.



If shareholders vote in favour of the merger, Ballarat Goldfields intends to
seek court approval at a second hearing of the Supreme Court of Victoria, which
is expected to occur on or about 23 February 2007. Subject to Court approval at
this hearing, implementation of the Scheme would occur on or about 5 March 2007.






For further information, please visit our website
www.ballarat-goldfields.com.au

or contact Joel Forwood, Manager Corporate and Markets, on 03 5327 1111

LONDON (AFX) - Ballarat Goldfields NL said underground development at the Ballarat East project in Australia was slightly ahead of schedule with key depth and lateral targets achieved during the period.

The company said the development rates at the project were sustained at the high rates achieved in the previous quarter with a total of 989 metres developed for the December quarter.

The current development rates are expected to be maintained and improved upon, Ballarat added.

In September, Ballarat announced a revised development plan which would defer production to 2008.



newsdesk@afxnews.com

tsm/ks

Ballarat Goldfields N.L.
12 February 2007

BALLARAT GOLDFIELDS NL
ASX and Media release: 12 February 2007


Ballarat Goldfields Shareholders Vote in Favour

of Proposed Scheme of Arrangement


The following information regarding the result of the resolutions considered at
the Ballarat Goldfields (ASX, AIM: BGF) Scheme Meeting is provided in accordance
with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act 2001
(Cth) (Act).

The shareholders of Ballarat Goldfields NL today voted in favour of a resolution
proposing agreement to the Scheme of Arrangement with its shareholders
(excluding Lihir Australian Holdings Pty Ltd) for the merger of Ballarat
Goldfields NL with Lihir Gold Limited. Accordingly, Ballarat Goldfields NL will
seek the approval of the Supreme Court of Victoria for the Scheme at a Court
hearing on 23 February 2007.


If the Court approves the Scheme then ASX will be advised immediately. The
Scheme Effective date is expected to be 26 February 2007 and trading in Ballarat
Goldfields NL securities will cease. The record date for determining Scheme
entitlements will be 5 March 2007.


Scheme Meeting - Resolution 1.

The resolution was carried on a poll, with:

95.87% of shareholders present and voting at the Share Scheme Meeting (in person
or by proxy) voting for the resolution - being greater than the requirement for
a majority in number (more than 50%); and

94.10% of the total number of votes cast on the resolution by shareholders
entitled to vote voting for the resolution, being greater than the requirement
for at least 75%.

The detailed result of the poll was:
Total For Against % For
Votes Cast 651,410,018 612,981,106 38,428,912 94.10%
Shareholders voting 2,180 2,090 90 95.87%

In accordance with ASX Listing Rule 3.13.2 and Section 251AA(2) of the
Corporations Act, we advise that proxy votes received for the meeting were as
follows:
Total For Against Open % For
Votes Cast 667,722,675 582,848,048 38,258,028 46,616,599 87.29%

For further information, please visit our website
www.ballarat-goldfields.com.au