Auction 2030 Wi Discussion Threads

[energyi] 07/12/2006 20:21

Australian Solomons Gold ("ASG") announced some excellent drilling results yesterday. They are expected to complete their final feasibility study shortly and to be in production in about a year.

The new Golden China (after the business combination with Michelago) will own approximately 24% of ASG

[energyi] 03/11/2006 01:55

EXCERPT from Chairman's Statement, of 1.Nov:

As you are aware the business combination process has taken much longer than expected and your Board regrets this unfortunate delay and acknowledges your patience. One reason for the delay was a requirement by the Canadian regulatory authorities that Golden China provide in its Information Circular to shareholders; BioGold financial statements for 2005 and 2006, prepared to Canadian accounting standards and for the 2006 statements, audited to
Canadian auditing standards. BioGold is a Chinese company and historical accounts had to be restated from their original Chinese accounting standards to Canadian accounting standards.

Auditing the 2006 statements to Canadian auditing standards in particular was a time consuming and logistically difficult exercise that involved expatriate auditors conducting field audit work on site at BioGold.

Another reason was the change to the terms of the Business Combination Agreement announced in August 2006, following the year-end inventory write-down at BioGold. Despite an independent audit of the inventory having been conducted as part of the due diligence process in July 2005, it is apparent that the inventory overstatement predates the acquisition of BioGold by
Michelago. Over the past 12 months, Michelago has introduced a significant number of managerial, operational, accounting and auditing procedures to BioGold. As a consequence of the increased management control generated by these improvements, unfortunately the inventory variation became apparent.

Following the write-down, Golden China contended that the reduction in the carrying value of the inventory should be reflected in an equivalent reduction in the share and option exchange ratios under the proposed business combination. Directors considered this in the light of Michelago's cash resources as a stand alone entity, and other possible consequences of failing to proceed with the business combination.
. .
A key aspect of the proposed business combination has been the loan finance provided by Golden China to fund part of the working capital requirements of BioGold. Following its acquisition of BioGold, Michelago was required to replace existing Chinese loans totalling RMB200m or US$25m, as a consequence of Michelago's foreign ownership status in China.

Michelago's ability to replace this loan from Chinese sources was limited by Chinese financial security laws that restrict the assets that can be offered as registrable security to land and buildings. As Michelago's only Chinese asset is BioGold, the value of the assets it could offer as registrable security limited the amount that it could raise in China to about half of the amount required, RMB100m or US$12.5m. The remainder of the working capital requirement had to be sourced from outside China, secured against other assets.

Michelago tried for many months to secure alternative finance using its shares in Australian Solomon's Gold Limited as security. Shareholders will recall that this was during the recent political unrest in the Solomons and as a result of this and other circumstances, Michelago was unsuccessful. In seeking alternative finance arrangements, Michelago was introduced to Golden China. Fortunately for the Company, Golden China was able to assist in raising the first half of finance as part of a proposed business combination. The China Construction Bank, one of the
largest banks in the world, provided the balance. The provision by Golden China of half of the amount required in April of this year was a major development in the completion of the terms of the business combination process. The provision of the other half of the amount required by the China Construction Bank was a vote of confidence in the BioGold facility by China based financiers.

@:

[energyi] 02/11/2006 10:50

Drilling Intersects High-Grade Oxide Gold Intervals
at Golden China's Beyinhar Gold Project

TORONTO, Oct. 26 /CNW/ - Golden China Resources Corporation (TSX.V: AUC)
announces excellent results for the Company's ongoing 2006 drilling programme
at its Beyinhar gold project, located in the Chinese province of Inner
Mongolia. The programme is delineating a wide, continuous, shallow, oxide gold
deposit with exceptional drill intercepts, including one at 26 metres
averaging 8.10 g/t of gold. Also notable, the results are defining a
continuous high-grade zone in a wide gold-mineralized envelope.
"Needless to say, we're very pleased with the drilling results we're
seeing at Beyinhar. These findings have definitely exceeded our expectations,"
said Douglas Betts, Chairman and CEO of Golden China Resources. "The results
we're seeing today are a clear indication of the project's potential, and we
very much look forward to releasing an initial resource estimate shortly."

As of 30 September 2006, Golden China had drilled an overall total of
136 holes encompassing 18,856 metres at Beyinhar. For the calendar year to
date (also as of 30 September 2006), 97 holes have been drilled, comprising
12,258 metres of the company's 14,000 metre 2006 drilling programme. The
drilling primarily focuses on a 50 metre closely spaced grid program with the
objective of defining an indicated gold resource within a one kilometre strike
length along the Beyinhar shear zone. The programme also targets an expansion
of this resource base by drilling at 100 metre intervals for one kilometre to
the southwest. The gold-productive Beyinhar Shear Zone has been traced on
surface for at least three kilometres. Drilling depths, averaging 120 metres, were limited largely to the oxide zone, with the base of the undulating oxidation surface extending to 110 metres below surface.

Beyinhar 2006 Ongoing Drilling Programme Highlights:

The planned 14,000 metre 2006 drilling program, which is expected to be
completed in early November 2006, forms the principal component of Golden
China's resource definition programme, after which preliminary resource
modeling will be carried out. Golden China has been utilizing two diamond
drilling rigs, with production rates averaging 35 metres of drillcore a day
per rig.

The resource model will be validated by an international group who will
develop a Canadian National Instrument 43-101 compliant independent mineral
resource estimate for Beyinhar.

@:

[energyi] 02/11/2006 10:48

SUBJECT: Golden China Shareholders Approve Mic Deal Posted By: Goldbuggy2
Post Time: 9/28/2006 23:58

TORONTO, Sept. 28 /CNW/ - Golden China Resources Corporation (TSX.V: AUC)is pleased to announce that at the Special Meeting of Shareholders held today, Golden China shareholders approved the planned Business Combination with Michelago Limited (ASX: MIC) by a margin of 99.8%. Shareholders also approved all other proposals related to the transaction that were put before the meeting.

[energyi] 02/11/2006 07:09

GB goes on ... as other pitch up
==========

It is true that Golden China presently lacks strong bidding at this time. We are in a slow period awaiting news and this is typical of any stock to see low volume and a drift downward at times like this. It is also true that in comparison to the total number of outstanding shares there is also very week selling, which is a very good sign.

I believe you, like most people, have this misconception that when everyone else is buying, this is when you should be buying. ...
The only advantage us small retail shareholders have over the big institutional investors is that we can take risks they cannot, because we do not have other shareholders to satisfy each quarter. ...

Having said this, we can only use this to our advantage on stocks which have not already passed this phase, which Golden China is in now. We can only use this on Junior Stocks before they become well known and take off.

2/
SUBJECT: RE: Gold Fields Puts Faith in Chinese Posted By: Goldbuggy2
Post Time: 8/14/2006 14:36

Welcome down-under I'm from Canada but presently living in Europe.
I did read actually how many board directors will be from MIC, after the merger, but from the top of my head I can't remember were just yet. Once I find it I will post it.

No doubt MIC was under valued. It appears now that almost all junior golds have taken a beating since May. Look at Golden China. With the Apac deal they brought 20 million dollars to the table. Their market capital now is les than that cash and they gain some good properties. But we should see things pick up in September again.

Nice to see someone else post. I was begining to think I was the only one who onwed this stock. I thought there was a "StockHouse" in Astraila to, but I can't seem to find it anyplace. Looks like they shut down there recently.
GB

3/
SUBJECT: RE: Trading Halt MIC & AUC Posted By: seuss
Post Time: 8/15/2006 01:37

mic share holders>annoucment> the merger details are now i get 1 new share for every 37.5 mic shares ........ was 27.5 not great i did still buy more today.

4/
The exchange ratio adjustment was made to reflect a RMB 86 million (C$12.1 million) write-down in the carrying value of the inventory at the BioGold gold processing facility located in Shandong Province, People's Republic of China and owned by Shandong MIC BioGold Limited, a subsidiary of Michelago. As announced by Michelago, the write-down was determined following an inventory stocktaking carried out as at June 30, 2006 in connection with the annual audit of Shandong MIC. Michelago acquired an initial 82% interest in Shandong MIC in July 2005 and an additional 17% interest in February 2006, at which time it assumed full operating control of the BioGold facility. Michelago took a provision of RMB 27 million (C$3.8 million) on account of a possible inventory write-down in its December 31, 2005 interim financial statements pending the June 30, 2006 inventory stocktaking. The write-down is not expected to negatively impact the future operations and profitability of the BioGold facility.

"The identification of the inventory reduction is a result of improved financial and inventory controls brought to the BioGold facility by Michelago's strong new management team. We continue to believe that combining Michelago's BioGold gold processing facility and Golden China's exploration and development assets is a strong strategic move for both companies." said Douglas Betts, Chairman and CEO of Golden China.

EXCERPT from:

5/ cynic LV attacks again:
SUBJECT: Where is the Value? Posted By: lottavodka
Post Time: 9/12/2006 09:48

Solomon Gold is refractory, needs a load of capital, mined poorly, geolgoy not understood, politically unstable, lots of locals living on the claim, project infrastructure is poor.

Even you Goldbuggy can do the math. There is a reason AUC remains low and will continue to be that way. Userous management contract with Kingsway and no mining expertise on their board. Checkout their deal sheet...pretty skinny. Amateurs playing a pricey game with your investment dollars, or should I say pennies

6/
SUBJECT: RE: Just Got a Big Book in the Mail from AUC Posted By: Goldbuggy2
Post Time: 9/22/2006 00:18

Nibao drill results will be released Mid October drinking-too-much. That is when the Pre-Feasibility Study will be completed. In case you hadn't noticed the +400,000 shares traded today most was picked up by "Canaccord" (about 400,000). As I said in a much earlier post here they do have their eye-ball on this one. I guess they were just waiting for some suckers to dump their shares before the POG takes off, and the merger with MIC. Looks like the found some today.
And for suess, I believe the Warrants expire in July of 2008, and not 2007. I will need to re-verify this but I am pretty darned sure that is what I read. Still am not in but I have been buying this one at $0.18 lately. Looks like Canaccord outbid me today though, but I did get a handfull first.

GB

[energyi] 02/11/2006 06:38

MERGER NOTES - very useful summary from GB2 !
============

1/
SUBJECT: Golden China Michelago Merger Posted By: Goldbuggy2
Post Time: 7/10/2006 14:43

Some people on this Bullboard have expressed concerns that the merger with Michelago is nothing more than "being taken over by an insolvent Aussie group desperate for a new life".
I have asked to see what information that they have read that makes them feel this way, and since they did not respond I can only assume it is based purely on their own feelings, and nothing else. Let me now share my views based on fact, and not feelings.

Michelago, above other things, has a 99% ownership in the Bacox Bio-Treatment Plant in Shandong China called BioGold. In July 2005 Michelago completed the registration of, and was issued a Business License for, the Shandong MIC BioGold Plant.

This new license, and the one from Bactech, will allow Michelago to hold the license to the exclusive rights to "Bactech's Patented Bacterial Oxidation Technology" for a period of 10 years in China, Siberia, Korea and Mongolia

BioGold is already a producer with a profitable history. Since the first years results will not come out until August, or later it has been estimated that revenue for 2005 will be approximately RMB499m (A$96m) in MIC first year of operations.

I expect it will be less, as the first year is usually a steep learning curve, and many mistakes are made, but this still translates into about $80M Canadian Dollars.

What must not be confused is the term "revenue" and "profit". The Bio Plant has very high costs because they buy concentrated gold ore bodies at a discount, and then process this at a profit. As it stands now, their cost is about 85% of the current price of gold, so their profit is about 15%.

There is some variation into this as if they pay the producer after the gold is refined, they pay them about 85% less chemical and process costs. If they pay them before this time, they pay about 83%, less their cost again. Supply and Demand at the time is also a factor, so it is difficult to get an exact figure, but a good average of all cost is about 85%.

Taken this into consideration then revenue of $80 CAD turns out to be about 15% of that which is about $12M CAD. The Corporate Tax Rate in China is about 33% but the Royalties and Exploitations Taxes are iffy. To be on the safe side I used a total tax rate of 40%. So this Gross Income of $12M CAD is now a Net Income of $7.2M, or profit.

In terms of share dilution with this merger, before consolidation, there will be about 275M Shares fully diluted. It is estimated that from these shares there will still be about 50% Institutional Ownership. After the consolidation of 5-for-1 we will end up with about 56M shares.

However, since I think it is easier to understand when you compared this profit of $7.2M to the maximum future outstanding shares of 275M, I will use this. The near future Net Profit Price to Earnings Ratio for Golden China Resources would be $7.2M / 275M Shares, which is $0.026 per share. No Screaming Hell at first, I admit, but non-the-less still a decent profit to Shareholders.

But let's translate this $0.026 into actual share price. Most Junior Gold and Mid Tiers are trading at about a P/E of +40. Considering that with this cash flow and us holding several other potential properties a, 40 PE would be normal for Golden China.

So a $0.026 Earnings x 40 P/E = $1.04 per share. This is 400% higher than where we are at today and we are not talking 15 years from now here. But there is more!

As stated on Michelago Home-Page
"The Company has been operating BioGold since July 2005 and has commenced a plant expansion to increase the Bacox© Processing Capacity from 150,000 ounces and therefore total plant capacity to 230,000 ounces per annum. "

This represents also an increase in production of over 50% and thus net profits, earnings per share, and share price of over 50%. So now we are looking at a share price of approximately $1.59.

This represents a share price increase from $0.25 to $1.59 of about 630%. And for doing what? We don't have to wait and hope for positive drill results. The news is already there! The difference in making money here is to reconize good news when you hear it, and not take it automatically as bad news.

IMOHO my advice is this! This is an easy 6 Bagger if you can take this stock and stuff it under your pillow for 18 months, or shove it wherever it feels comfortable. Then forget about it until then.
GB


2/
SUBJECT: Golden China Michelago Merger / Part 2 Posted By: Goldbuggy2
Post Time: 7/11/2006 03:25

As mentioned in my earlier post, some people on this Bullboard have expressed concerns that the merger with Michelago is nothing more than being taken over by an insolvent Aussie Group desperate for a new life.
I already discussed the Michelago Bio Treatment Plant, which should produce a $7.2M CAD profit from last year and after the expansion later this year it should now be around $11M. Especially since they received a huge increase in 'Working Capital" from Golden China, and are now getting more favourable loans.

I also showed that by using this figure of $11M and dividing it by the maximum total number of shares, 275M, we end up with a net earnings per share of about $0.04. I then showed that by using a conservative P/E Ratio of 40 we should end up with a share price of around $1.60, based on this news alone. But, if I may, I would now like to discuss other assets Michelago owns.

Michelago also has a 41% interest in a mine in the Solomon Islands called "Gold Ridge". This mine has already been built and was in full operation in 1998, so other than spending some pocket change to get it back to tip-top shape, it is ready to go. The people caused the shut down of the mine in 2000 due to civil unrest and a rebellion. Since this time however things have stabilise and the mine can once again be put back into production safely.

At the time of this mine closure, in July 2000, the mine had proven resources of 2.3M ounces of gold, and further reserves of an addition 1.7M ounces of gold. Australian Solomon's Gold, of which Michelago owns 41%, fully intend to bring the mine back into production by late 2006. The production rate is expected to be 150,000 ounces per annum with cash operating costs of $230USD/oz for the first 5 years of production. The total mine life, based only on the current resources, is expected to be in excess of 10 years.

In July 2003, the Australian Government and a number of other Pacific Nations were invited by the Solomon Islands Government to intervene in the ongoing conflict. The Regional Aid Mission Solomon Islands (RAMSI) comprised of over 1,000 police and armed forces as well as a number of commercial and political appointees was formed. Over $1BN has been spent since the formation of RAMSI and it is understood that this will be a long-term commitment by the Australian Government and the Pacific Arena. Since this time the country has now been considered to be a safe place to do business again.

The Gold Ridge mine operated between September 1998 and June 2000, producing approximately 150,000 ounces of gold annually at a cash operating cost of approximately $150USD/oz. The mine will need some capital to grease and oil the wheels and bearings but the main plant is still there. Since 2000 the costs have escalated from $160USD/oz. to $230USD/oz., but this is a typical cost price increase for anyone in the mining industry today.

So using today's price of gold of around $630USD/oz. and a cost of $230USD/oz. we are left with a Gross Profit per ounce of gold of about $400USD. This now translates into about $440 CAD/oz. Since production is expected to be 150,000 ounces and our portion is 41%, we end up with 61,500 oz. Au. From these figures our Gross Income then would be 61,500 x $440 = $27M.

Again the tax situation for gold mines on the Solomon Islands is not perfectly clear but it is safe to assume they will be inline with many other countries, or better. For practical purposes again I will use a combined Corporation and Royalty Tax Rate of 40%. So with a Gross Income of $27M and a Tax Rate of 40% we end up with a Net Income, or Profit, of $16.2M.

Again using the greatest possible amount of total shares we could have, it would be 275M. Since our profit from this mine would be $16.2M we then have a P/E of $16.2M / 275M = $0.059 / Share. Using a conservative P/E Ratio of 40, which is very typical for small cap miners, we have a share price increase from this mine alone of $2.36.

Add this $2.36 to our share price from the Bio Treatment Plant of $1.60 and we now have a total share price of $3.96. From our current share price that is a whopping 1,600%. That is a 16-bagger folks! That is 4 Grand Slams in a row!

We are not talking 15 years down the road either Ladies and Gentlemen. We are talking by next year or 2008 at the latest. We do not have to wait for some great news. The great news is already here!

I did not make up these facts and figures! They are there, right under your nose. Just go to the Michelago Web Site and do your own calculations. Why do you think we are now 80% Institutionally Owned?

Sure, you could sit back and wait and hope to buy in a few hundred shares at a time at a price of $0.23. I am sure that the Lemmings, who bought this stock on the advice of a co-worker, or relative, and who did zero research into this company will sooner or later be glad to sell you his shares at a loss. That is once he sees that this stock didn't triple in the 2 weeks he thought it would.

We are at a slow time for our company right now (Pre-feasibility studies ongoing) and for gold. I will never advice anyone when, how, or at what price they should buy or sell shares. I have enough trouble playing my own hand, let alone someone else's. But I will tell you this.

I have seen "Canaccord" and "Research Capital" buying small amounts of shares at the $0.23 to $0.28 range. That tells me they know about Golden China Resources. Either one of these two companies could jump in anytime and buy 5 million shares without blinking an eyeball.

They appear to be waiting for something to, but the question is for what, and for how long? When they make their move, you will be out of the game holding your few shares in a Marble Bag. Of this I am sure.

When buying AUC now at these extremely low prices just do like they did in that old Clint Eastwood Movie, and just ask yourself this. "Do You Feel Lucky Punk?'

To get back to my original statement which was that some people on this Bullboard have expressed concerns that the merger with Michelago is nothing more than being taken over by an insolvent Aussie Group desperate for a new life, may I add this?

The real question you should be asking yourself is why is a company like Michelago, who's future is predetermined and bright, want to merge with a nobody like us? My thoughts and theory on this will be "Golden China Michelago Merger / Part 3", just in case you are interested.
GB


3/
SUBJECT: Golden China Michelago Merger / Part 3 Posted By: Goldbuggy2
Post Time: 7/12/2006 13:47

As mention in my last post Michelago seems to have a very bright predetermined future so why would they want to merge with a nobody like us?
The one and only major problem Michelago has is that they are cashed strapped and they require huge amounts of capital to operate. To get the full benefit of the Bio Treatment Plant they need huge amounts of working capital to buy the concentrates from the client first to make their profit later.

The Australian Stock Market is not a good place for any juniors golds to raise money. Most if not all would list in Canada if they could.

Their only other alternative then, to keep things operating, was to take out a bank loan. When you consider that Michelago is a one-trick-pony, with only the Bio Treatment Plant earning income, you can see why borrowing money was not easy for them, or on favourable terms.

If something terrible happened at the plant, like a major equipment breakdown, they would not be able to cover their loan. This automatically places them at a higher risk category and therefore at a higher interest rate, with a shorter payback period.

These high interest rates ate away at MIC profits and also prevented them from enjoying the full benefits of their Bio Treatment Plant. They seemed to be living from day to day paycheque to paycheque. This is reflected in their current stock price and remains so even today.

To compound their problems with cash, in order to reap the full benefits of the Bio Treatment Plant, an expansion would be required to increase production from 150,000 oz. to 230,000 oz so profits could also be increased dramatically.

The Bio Plant would also have to be shut down to do tie-ins and also a very much needed maintenance overhaul of the plant was required as none had taken place in quite awhile. This would require lost income in additional to several million dollars required in expansion capital. Both of which they could ill afford.

Michelago spent over one year trying to raise capital unsuccessfully. Who says good gold miners are good bankers? Perhaps the greatest reason why many juniors fail is they run out of money before the project is completed.

This was not Michelago's problem as they had been operating in China for quite some time, but it just seemed they could not get ahead on their own. They needed capital they could not raise on their own, and they knew this.

To complicate things even further, they hold a very lucrative 41% interest in the Gold Ridge Mine in the Solomon Islands. In 2006 it was decided this plant was ready to be brought back up to full production. This also means that Michelago would need even more capital to fund there 41% of the costs, which again they did not have or could not get.

On the other side of this merger coin you have Golden China Resources. They are backed by Kingsway Group, which is part of the Hong Kong Merchant Banking System, with experience in acquisitions, funds, raising capital, and dealing with the Chinese Government and people.

For Michelago to have a partner like this in such time of need it would be like a marriage made in heaven. But like any marriage it must be good for both partners.

Golden China Resources is a very new company and their first acquisition was to merge with APAC (a Canadian Co.). They then kept the Company President Michael Hitch, (who has since recently left the company) on to assist them in their exploration program.

They acquired 4 properties from APAC. They simply needed to learn nore about them so they let the Bankers be Bankers, and the Prospectors be Prospectors, until they could take over themselves.

Golden China's most advanced project from this merger is "Nibao". First exploration results indicate a gold reserve of at least 432,000 oz. of Au. Many investors seemed disappointed in this and bowed out, but you have to consider that this is just the first result.

Las Cristinas in Venezuela was first estimated at 5M oz. Today Proven & Probable are 13.6M and a total with indicated is 22M oz. So you can see how much this can change over time and with more drilling and sampling.

Although it is not official, as this will not happen until the pre-feasibility study on Nibao is completed in October, there is no doubt in my mind that this project will be a go. All arrows are strongly indicating this and the reserves will be greatly increased.

Their highest test result from Nibao comes from Nibao South, and this area is just starting to be explored. In fact Golden China has recently applied for permission to extend this area for further exploration.

Nibao is expected to be a very low cost strip mine type operation. There is nothing sophisticated about this, nor is it an expensive process involving expensive operating equipment.

Golden China does have one major problem with this mine though. The gold in the ore body is refractored and oxidised. To extract this gold from the ore body to an acceptable level they will need further treatment of this ore. This would entail increased capital cost for the mine, and also operating cost, which would cut deeply into profits.

To solve Golden China's problem, they would need to build a Bio Treatment Plant, but first they would need all the approvals and technology from the vendor to do so. As it stands now, this would be difficult.

At the present time there are only two different types of Bio Treatment in China. Gold Fields owns one, who will only share it with partners or use themselves, and Michelago. Now are you beginning to see a connection here? A marriage made in heaven?

With Michelago's expansion this will give them an additional 70,000 oz. of extra production capacity, which is more then enough to treat Nibao's Concentrated Gold. Concentrating gold is relatively very easy to do and inexpensive. The end result is that you are left with one tonne of ore, which has ten times the amount of gold in it that is normally mined. That is why it is concentrated!

Although the distance to Michelago's Bio Treatment Plant is quite far from Nibao, shipping costs in China are very cheap. It is estimated that the total cost will be around $4 per tonne of ore. Much cheaper then building a Bio Treatment Plant, if they could.

So there you have it! Golden China has already given Michelago $20M even before this merger is confirmed, and this has already solved all of Michelago's previous problems. They have all the money they need to expand and although they will still need a revolving loan for working capital, which has been approved by the Bank of China, they now enjoy much more favourable interests rates.

In return Golden China now has a place to treat their ore from Nibao, or any other mine they may have or acquire, as this type of ore body is common in China.

Even if they decide to build their own Bio Treatment Plant due to expected increases in reserves, they can do so because they will own the license. When you consider that most ore bodies in China are refractored, and oxidised, this in itself is a very big plus.

Perhaps the one thing I like most about Golden China Resources is its strategy. That is to consolidate small mining companies in China, who show good potential but lack funds, and form them all into one very profitable mining company. They have already proven to me that they are very organised. They are backed by money and therefore they can easily accomplish this.

Their choose of Michelago was not based on a disparate company looking for a new life. It was based on very good future planning for both companies, and a win-win situation for both companies. The perfect partnership! That is why this deal will go through.

Go ahead and sell your shares at $0.25, I don't care. I already have a huge position with AUC but I am still waiting to steal more of your shares at $0.23. It does not bother me at all to rob you, when you do not do you own homework. I figure it is a good lesson for you in future life to never buy a stock until you do your homework first.

Goldbuggy2

[energyi] 02/11/2006 05:23

SOME SCEPTICAL POSTS - from Stockhouse
==============

1/
AUC: now Golden China Resources. = yvonlr 3/22/2005
2/
SUBJECT: AUC: Big action is beginning! Posted By: yvonlr
Post Time: 9/20/2005 13:04
Strong management, new acquisition and strong drilling results are beginning to capture the attention of new investors! Expect strong move shortly!
3/
SUBJECT: Merger Posted By: bwl123
Post Time: 11/21/2005 20:04
Does anyone know why there has been no reaction to the merger.
Any comments on the future of the new company welcomed.
Thank you.
4/
SUBJECT: RE: Merger Posted By: baystock1
Post Time: 11/26/2005 15:06
I suspect most people are waiting for the dust to settle after the 5 for 1 reverse split that is part of the merger. Most shares take a significant dump after such a reverse split.
5/
SUBJECT: management Posted By: oneoone
i think the people behind this are well connected
6/
SUBJECT: maybe...maybe not Posted By: Bartstar
Post Time: 3/18/2006 10:08
I don't see substantial movement until after April 31 when the shares come of escrow. There will be a flurry of activity then and some nice NR's leading into that period. I figure the NR's to start the second week of April. There will be a sell off of the 6.5 million shares that are issued as a part of the debenture offering, but should occur at the warrant excercise price or better so there is an upside here in the short term, for some quick cash. Long term, IF everything works according to their design, the company will be worth from .50 to 2.00/share depending on how things work out.
7/
SUBJECT: Market is predicting News Posted By: grampatech1
Post Time: 3/31/2006 15:24
Remember:SELL ON NEWS. Those that know what is happening want to get in before all the little guys know the news..otherwise they can't get big rewards...ultimately it's the little guy who ends up holding the bag. That's why you need charts to see the initial action
8/
SUBJECT: News: Golden China Resumes Resource Definitio Posted By: canuckhead
Post Time: 5/2/2006 08:27

Golden China Resumes Resource Definition Drilling at the Beyinhar Gold Deposit, Inner Mongolia; Completes Preliminary Metallurgical Testwork


ETG also had similar news on resuming exploration in Mongolia


9/
SUBJECT: What I like about AUC Posted By: Goldbuggy2
Post Time: 5/30/2006 11:51
What I like about Golden China is that it can become a large company in a relatively short period of time and not having to use a lot of cash to do it.
I see this stock header way North in the future. Forget about initial drill results. This company will make it big on a great idea and the cash to back it.
Goldbuggy

10/
SUBJECT: Wait until China's next dynasty for results Posted By: exxsi
Post Time: 6/11/2006 18:10
AUC seems to be caught up in someone's plan to do a 100 year stock accumulation. Was it always like this. I bought into the story and may have got trapped in the-making-of-fossils. What can be done to encourage management to do something

[kaiser_soze] 30/10/2001 00:43

Lots of talk on the BB with regard to on-line auctioneers . Why not pop across to and look at the auctions they host . Couple of important points to note regarding listing and success fees though .

Listing fee : QXL will charge a listing fee , Yahoo FREE - NO FEE
Success fee : QXL will charge a success fee , Yahoo FREE - NO FEE

Im thinking of auctioning some items . Has anyone got an opinion on why i should use QXL when Yahoo provide exactly the same service for free .

[kaiser_soze] 29/10/2001 16:22

Good point thanks Helix . Had a look at the bloke in the pub definatly more of a back street local compared to the others :)

[helix09] 29/10/2001 16:12

I can give you one, albeit maybe not yahoo's fault but I know of several people in a similar boat. People sell on yahoo/fsauctions and for that matter the old msn auction then magically go into "insolvency". I have lost several hundred pounds. Ok I know I am a fool, but with a listing fee it deters the fraudster.

For that matter why not try

www.theblokeinthepub.co.uk/

that sounds real seedy!