Ballarat Gold Share Discussion Threads

[latifs100] 05/10/2007 15:10

have ppl got lihir gold certificates

[latifs100] 23/10/2006 12:26

are ppl selling or holding for lihir gold

[mickeyvino] 17/10/2006 11:04

Brazilian Diamonds L Brazilian Diamonds makes 'significant' micro-diamond find at Regis pipe

LONDON (AFX) - AIM-listed Brazilian Diamonds Ltd (BDY) said it has found
"significant" micro-diamond counts from a series of deep diamond drill tests of
the Regis kimberlite pipe in central Minas Gerais, Brazil.
The company said 129 micro-diamonds were recovered.
Chairman Kenneth P. Judge said: "We believe that the recovery of significant
micro-diamond counts from the deep drilling of the Regis kimberlite represents
confirmation of the importance of our Regis exploration programme.
"It further validates our regional exploration geologic model which is
currently being applied to several other important targets within the Company's
portfolio in Minas Gerais."

[laserdisc] 17/10/2006 08:41

good news offer equates to 28cents per share

[laserdisc] 16/10/2006 10:50

extract from australian newspaper 14/10/06 on asx i think its more a merger though than a takeout anyhow 30cents sounds extremely generous in view of the managements record of late
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.

[wassapper] 16/10/2006 07:08

Mention in Minesite weekly roundup

[laserdisc] 13/10/2006 21:13

nice late t trade i feel this is a buy
16:37:41 9.75p 350,000 £34,125 T

[laserdisc] 13/10/2006 21:09

i hear on the grapevine barrick could be the suitors at 30 cents

[laserdisc] 13/10/2006 11:01

2 lots of 50k gone through

[laserdisc] 13/10/2006 10:36

12vic not suspended here & 10p to buy do you think it could be taken out

[pinhead3] 30/9/2006 13:26

'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.'

Very damming for a 'competant' mngt team!

[mmamuk2] 26/9/2006 06:48

The problem as far as I can see is cash flow and consequently further dilution of shares on the horizon.

[oldskoolraver] 21/9/2006 09:44

Does not make good reading....

[oldskoolraver] 21/9/2006 09:41

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 hasn't 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 anyone's 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 company's 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 didn't return calls to elaborate on these issues.

[latifs100] 12/9/2006 11:15

damn it.. i bought at 13p.. is it worth topping up. director purchase?

[andy] 08/9/2006 13:47

tony,

Do you read it the same way as me?, production delay of one year?

Or am I missing something?

[billy ballbag] 09/8/2006 22:50

It should be taking off, but due to the summer holidays, this has been postponed 'til september! I'll be adding, as funds become available. ;-)

[tonystringy] 09/8/2006 18:18

No comments on RNS?

[12vic] 31/7/2006 08:06

Hello Arja ,
Not following to closely at the moment . Recent update positive but we still need firm proof of consistent gold production , increasing resources is good news but will not be enough to swing this around on its own . So 8kg produced since December 2005 , still a long long way to go to hit 2007/2008 production targets .
Still holding my Aimr tightly and in profit .
All the best !

[arja] 11/7/2006 07:50

hi 12vic,
sold at 29.5 on 4th july as seemed to be going nowhere but sideways at best ! still 29 now and seems to be still unaffected by gold price movements. But, as you say, this needs some news about whether they are resolving problems. I will keep watching and may re-enter at some stage. I hope you are well .

[12vic] 04/7/2006 07:15

Some movement in the right direction for you last night Arja , now hovering at 29.5 .

[arja] 30/6/2006 07:40

again a disappointment in OZ 12vic even with gold price rocketing after FED statement. I did buy some at 28.5 and wish I had taken small profit at 29.5 !! Chart suggests it will now move downwards but maybe it is wrong this time - hope so !! Perhaps a $50 jump in gold price MIGHT help!!

[monikol] 29/6/2006 18:28

So what causes a stock to quickly appreciate in value? Fundamentals? News? Management? Well yes, to a degree. But what REALLY moves a stock price northward that you just purchased?
Answer: A Huge volume of buyers having been directed to the emergence of that stock by a qualified service which has a reputation for doing so. THIS service does:

[12vic] 29/6/2006 18:03

I can't see much happening here until BGF can at least prove some sort of effective production at Ballarat East . If I buy back in it would be on the back of a positive production announcement . At the moment BGF are very much keeping us in the dark as to just how things are progressing in terms of plant , mining and production .