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

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.