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)

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
.Ads by Google
Shares - Our Buy List
Price, Performance, History, Charts Investment Aims and Risk

www.Share.com/Shares

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.

good posts on here - i am finding pretty much the same - have a good evening all

I think everybody will be struggling to make good money, we've had it good
all year so cannot expect it to continue.

Hoping 5.5p will provide support now, they seem to want the stock at this
level.

Looking poor again elsewhere, Caza is struggling now with stock available well
below the monitor offer, Kea the same, not much stock around in Trp currently
so they are doing better.

Broker Note target price 18p.

Central China Goldfields
1.98Moz JORC resource

Central China Goldfields (to be renamed GGG Resources) has defined a
1.98Moz inferred JORC-compliant resource at its Bullabulling gold
project. The resource is shallow and expected to be amenable to open
pit mining as a low-grade bulk tonnage operation. A scoping study is
currently under way, with a feasibility study planned for
commencement in October 2010.

Company highlights include:

Central China Goldfields has defined an inferred JORC-compliant
resource at the Bullabulling gold project of 41.5Mt at 1.5g/t gold, for
contained gold of 1.98Moz at a 0.7g/t cut off.
The mineral resource has been defined over a 9km2 area and remains
open in all directions including at depth. The resource was completed
as a desktop study and is expected to increase as the company
conducts further drilling across the entire 14km strike length.
GGG will now drill twins of the historic holes to get the resource up to
the JORC measured and indicated categories. This will be completed in
tandem with an economic scoping study, followed by full feasibility
studies, expected to commence in October.
The company will complete optimisation studies, due late September, to
determine the economic depth of mining. This will be closely followed
by a further mineral resource upgrade to include the results of all drilling
done by GGG and its partner Auzex Resources.
We fully expect the company to take Bullabulling into production. This
was evidenced by the appointment of Michael Short, who has
substantial expertise in the construction and optimisation of plants, as a
Non-executive Director in June 2010.

This is a substantial resource upgrade which will allow GGG to migrate to
the development cycle of the project. Given the projects history as a
producing gold mine, we are confident that GGG, in conjunction with Auzex
Resources, will take Bullabulling swiftly towards production.

Considering 50% ownership of the Bullabulling gold property and including
the companys investment in Auzex, our peer-based valuation of GGG is
41.5m or 18p per share. The news flow over the next few months should be
substantial, as the company completes economic scoping studies,
optimisation studies and announces a further update of the JORC resource
to include GGGs drilling at Bullabulling.

We rate GGG Resources a BUY and believe there is substantial upside
in the share price to rerate it to the level of its pre-production peers.

Managed to sell at 6.75p on the spike this morning so all in all a tiny profit is
better than a large loss, will look to trade this one from now on, has the potential
to make good profits if your timing is spot on, not easy though.

re - Managed to sell at 6.75p

Someone informed the market of a SELL close to 3 hours later!

the 6.75p bid lasted 8 minutes at the opening

..not worth the effort

.not worth the effort

Trading this is the way, bought back my 6.75p stock for 5.64p, Wins seems to have a seller so saved over a penny a share or close to 20% buying back, seems
good value to do this after todays news.

re - ..not worth the effort

That is why you should not posted then

Very fast to post the buy, but not the sell,
do I feel that you must post the best price so give time, just in case moves higher later ( I will look like a fool ).

I could not care less what you post !

At least i post when i sell unlike yourself and your fellow pump and dumpers
from advfn who dump and vanish onto the next p&d !