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

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