Here is a chance to get in near the bottom of potentially a very exciting prospect.

http://moneyam.uk-wire.com/cgi-bin/articles/20060328083735PAEAF.html

START OF DRILLING

LONDON - 28 March 2005

Central China Goldfields plc (AIM: GGG, GGGW) announces that its Chinese Joint
Venture Company, the Sichuan Snow Mountain Mining Exploration United Centre,
has signed a drilling contract with Victor Geological Exploration Inc
("Victor"). Victor is a wholly owned Beijing-based subsidiary of Nahanni
Drilling Corp. of Canada. The contract is to drill approximately 1,200 metres
in the Songpanguo (SPG) deposit in the Baima area, in the Snow Mountain
Project, Sichuan Province of China.

Drilling will also commence soon at Shuiniujia (SNJ), another deposit in the
Baima area once drill access is made available by mid-April.

The drilling programme is scheduled to commence in mid-April 2006 at Songpanguo
and late-April 2006 at Shuiniujia.

In addition, a series of underground tunnels (adits) totalling over 2,200m and
trenching totalling 2,250m will be undertaken in both deposits. The drilling
and aditing/trenching programme is intended to test the depth and lateral
continuation of these two deposits. Our partner the Sichuan Bureau of
Metallurgy and Geological Exploration ("SBMGE") has calculated inferred
resources of the SPG and SNJ deposits of approximately 200,000 oz. and 140,000
oz. respectively. These resources are not compliant to international standards.

The programme will be supervised by Exploration Manager, Ciceron ("Jun")
Angeles MSc FAusIMMM, who is qualified as a Competent Person under the
Australasian Code for the Reporting of Mineral Exploration Results, Mineral
Resources or Ore Reserves ("The JORC Code") of the Australasian Institute of
Mining and Metallurgy, and Project manager Roberto Tan BSc.

Dr. Jeff Malaihollo commented "Our exploration programme in 2005 confirmed
previous work conducted by the SBMGE. This year we intend to add to the
resources by drilling and tunnelling. We look forward a very exciting year of
development."

The AGM is next week so, hopefully, a bit more news at that time. I am going to try to get there so will keep you posted if I do.

;o)

dealerdear - i tend not to listen to bmd but this is what he said
'Central China Goldfields. DE-JA-VU?
Posted on August 16, 2010
by Brokerman
I am placing a warning out here re this company. Its not so long ago that Central China Goldfields released a similar statement re their world class assets in China. I remember the great hulabuloo as gold fever gripped investors.. Yes thousands invested as the news of the yellow metal just lying on the floor over in China gripped investors; guess what happened? The share price tanked to under 2p leaving thousands with lossess running into literally millions. What did GGG do? Well they flogged off their world class assets Nimu for a few million dollars and made a sharp exit out of China. Now theyre in Austraila telling us all the same story but with a different name and a new chairman only this time instead of Nimu read Bullabulling?

Tread VERY CAREFULLY HERE.

My advice is if in profit get the hell out!

Daniel'

http://brokermandaniel.wordpress.com/

i think we have enough experience between us to draw our own conclusions

masterRSI - i dont blame anyone but myself - maybe i made an error - and you are right the ones with patience will be the ones to gain bigger rewards - i am in others eg gkp, mta, ntog, rrl, rkh, fogl, to name a few - then some rubbish like sam, inc, pyc which i have put in the bottom draw - toilet paper worth more than them!! but i am holding and waiting - perhaps i should have waited for ggg to settle - will watch closely tomorrow - if drops will def be back in with more shares for my money against today's sell - gl

Thanks Gibby, appreciate that.

Thought you meant Daniel Stewart the broker. Unlike Daniel, IMO this is a fine company. What went wrong before if my memory serves me well is they were stripped of their Chinese assets when their partners pulled the plug on the partnership and GGG were forced to sell which was the reason the sp dropped to 2p.

you are welcome dealerdear - two things gave me cold feet today really - i was not that familiar with ggg (i am now!) and the sp kept stalling when i expected it to keep flying - i have often been burnt badly in the past in similar stalling situations and vowed long ago not to let it happen again - then like an idiot made the fatal error of listening to twots on other boards!!! i agree with you and others and my thoughts earlier - this most likely is a fine company - hope to get back in tomorrow and hold long - great news today - mistake mine!!! sorry if i confused you ref Daniel Stewart - that BMD guy has cost people a lot of money himself with so called tips i am told - anyhow the chinese assets & ggg was some time ago - a person who made no mistakes makes nothing - same for companies - cheers

"the fatal error of listening to twots on other boards"

And should we listen to you, who was posting of 100% rises when he held
and started deramping the moment he sold !

Say no more !

ps...the price was flying at the close, shame the market shut.

i havent deramped ggg at all - in fact i said i may have made an error in selling - the deramp came from broker man dan not me (which dealerdear has explained what tosh bmd wrote against what actually happened) - & i just said i am likely to buy back in ggg tomorrow for long term & in my 18:27 i said ggg had received 'great news today' * 'this (ggg) is most likely a fine company' not sure how that can be re-translated as a deramp? i do not deramp anything - and definitely not ggg

Check out the late holding Rns.

This rise was sustained with a large seller offloading.

The seller has under 2%, when that gets cleared tomorrow the mm's wont be
able to hold it back, looks like Novum are clearing it as they sat at 7.25p offer
today and got hammered but didnt budge.

Gibby.

That is perfectly fair what you said. Likewise I neither ramp or deramp a stock but simply give a view which may be right or wrong. The problem in this market is the lack of available credit and general market fear means the riskier stocks are ignored or worse still shorted no matter how impressive the company is.

Currently there is hardly anything going up at all which makes any trade high risk unless you are looking long term. Certainly there can be upward movement (see BLNX) although I suspect that the market has deteriated over the past few weeks as credit spreads widen.

Whether this is capable of rising short term is a moot point. I shall watch with interest.

The after hours news is Obtala has gone down today to 4M shares left or 1.76%

Comments from UKA:

Central China Gold (GGG) shares soared 2.25p to 6.875p after the updated Joint Ore Reserves Committee (JORC) reported increased mineral resources at the West Australian gold project, Bullabulling, by approximately 450% to 1.98 million ounces of gold. The company added that the new mineral resource estimate has been restricted predominantly to mineralisation within the Bullabulling Trend, which extends over approximately 6 kilometres strike and where gold mineralisation exhibits excellent lateral and vertical continuity, and is open in all directions.

i'm back in and staying in - this in time in my opinion will multibag from current price - interesting read below & link to it - you can glean a rough value to the 2M oz from it :

http://www.businessday.com.au/business/auzex-gold-rush-defies-the-sceptics-20100816-1272q.html


Auzex gold rush defies the sceptics August 17, 2010
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SHARES in junior gold explorer Auzex Resources have soared more than 32 per cent after the company reported a larger than expected 450 per cent increase in contained gold at its Bullabulling project in Western Australia.

Investors moved to grab a slice of Auzex before the release of more results tomorrow, pushing the shares up by 4.5 to 18.5.

The company, which has interests in Australia and New Zealand, told the market its its resources had risen from 430,000 ounces to 1.98 million of contained gold at Bullabulling.

That equates to an inferred resource of 41.5 million tonnes at an average grade of 1.5 grams a tonne gold with a cutoff of 0.7g/t.

The market had been sceptical about glowing results from Bullabulling, assuming Resolute Mining had gone over the ground thoroughly before selling the tenements in 2002.

Auzex managing director John Lawton said the company was confident about the project.

''There will be some scepticism around this announcement for sure, but we aren't losing sleep over that,'' he said.

''What we found when we looked at Bullabulling was how underdeveloped the area was. Resolute had only looked at shallow mineralisation down to 34 metres.''

But what may not have been economic once is being viewed in a new light thanks to a gold price of about $US1200 an ounce. A rough calculation estimates operating costs at about $A600 an ounce.

Mining is expected to start in late 2012.

Mr Lawton has been a strong believer in the project since Auzex listed in 2005, putting about $1 million of his own money into the company.

MATHEW MURPHY

They are determined to get the price back down again.

As i write they drop again, like Caza, very volatile.

Ah well, got me some more stock at 5.95p, surely there will
be support at this level one hopes/prays :-))

You see Novum moving into position at 6.25p offer, i reckon it would take
about just one hour to shift their 4 mil overhang if the other mm's all went
6p bid, they probably have sold some of that stock already this morning.

Could happen now, they are alone at 6.25p with other mm's moving to 5.75p
bid.

This penny market is totally tailing off at the moment, if you dont hold the
share before it comes out with good news then the chances of making money
after the event are slim, stop loss gets triggered if it goes below 5.5p bid,
looked so promising first thing.

Totally agree with that which is why it is very hard to make money atm.

There is little real trading in shares so as you say, you need to hold it before the news. Ummmm

That's ok if you have a few hundred spare k to put 5k in every oil and mining
small cap and sell each one in turn when they double or treble but the sods law
theory kicks in, always seems to be the way, i sold one going nowhere for a while
and next day they secure a rig, the punters go mad for that news, think we should
be investing in the companies that supply the rigs if you ask me ?
The ones you invest in go nowhere and the others come out with news, Caza surprised me, i had one come out with a discovery and it did very little, Caza does
the same and rises 200% !

Turned off the limits again, cannot buy any stock at this new intraday low
yet they have stock, why play around, never going to clear the lines with
all the games the mm's play !

Big buyer out there at the moment.

Can sell a lot of size at 5.71p on a 5.55-5.75p spread even after all those
sales.

Agree with your post 150 rdg

Same thing happening to me and then of course when it does eventually rise, we give a huge sigh of relief, sell and celebrate and then see it continue to travel north to ridiculous levels!

Very frustrating but the name of the game atm.

They will pay 5.7p for a 500k dummy sale online at the moment so there
is hope that this is the bottom, i wonder if that seller has also been cleaned
out completely.