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

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