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Topic: Ballarat Goldfields (BGF)

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12vic
Regular Contributor

Joined: 20-Dec-02
Location: United Kingdom
Posts: 76

Posted: 05-Apr-05 at 14:49 \| IP Logged

Anyone hold shares in these , they seem to be well funded money in bank + loan facility and moving beyond feasabilty towards mine development stage. Todays RNS very positive . Aim listed I think .

Ballarat Goldfields N.L.
05 April 2005

BALLARAT GOLDFIELDS NL (ACN 006 245 441)

ASX and Media release: 5 April 2005

Finance Facility Secured to Allow an Early Start to Gold Production at Ballarat
                                         East

Ballarat Goldfields NL (BGF) is pleased to announce that it has secured a
bridging finance facility, with Investec Bank (Australia) Ltd (Investec). This
facility will allow BGF to commence production at Ballarat East some six months
ahead of the schedule previously envisaged under the pre-feasibility study.

BGF has been completing its project development plan, incorporating the results
of its recent drilling and optimisation studies.

BGF now plans to begin accessing ore in the third quarter and to commission the
process plant in the fourth quarter, this year. The plant construction contract
will be finalised shortly.

The earlier than anticipated production start has been made possible by the
delineation of a number of ore sources in close proximity to the existing
decline that will allow early mining access.

The capital required by the company to come into production under the project
development plan remains in line with the pre-feasibility study estimate. The
company raised $27 million in July 2004, with the balance expected to come out
of the funds to be raised from the exercise of the listed options in September
2005.

Production is planned to ramp-up to approximately 200,000 ounces per annum over
a three year period.

As a consequence of the early commencement of production at Ballarat East, BGF
will require funds to be committed earlier than anticipated in the
pre-feasibility study. Therefore, in order to bridge its short term funding
requirements BGF has arranged a finance facility with Investec. On completion of
documentation, the facility will enable BGF to draw up to $17 million. This
facility is expected to be re-paid from the exercise of the listed options.

The facility does not require BGF to enter into any hedging arrangements.

Further details will be made available over the coming months.

For further information, please visit our website
www.ballarat-goldfields.com.au

or contact Joel Forwood, Manager Corporate and Markets, on 03 5327 1111.

                      This information is provided by RNS
             The company news service from the London Stock Exchange

12vic
Regular Contributor

Joined: 20-Dec-02
Location: United Kingdom
Posts: 76

Posted: 05-Apr-05 at 20:45 \| IP Logged

This is worth a look - explains the project in detail

http://www.ballarat-goldfields.com.au/ballaratgoldfields/hom e.nsf/html/84377A5214B8D664CA256FB300072E60/$FILE/RBC%20Repo rt%2018%20Feb%2005.PDF

stringy
Member
Member

Joined: 26-Apr-04
Location: United Kingdom
Posts: 1

Posted: 06-Apr-05 at 01:26 \| IP Logged

"Anyone hold shares in these , they seem to be well funded money in bank + loan facility and moving beyond feasabilty towards mine development stage. Todays RNS very positive . Aim listed I think ."

Thanks vic!

I didn't but having just done some research, I will tomorrow AM!

I can see this one going north pretty quick. In fact looking at the various European exchanges....it's already started.

12vic
Regular Contributor

Joined: 20-Dec-02
Location: United Kingdom
Posts: 76

Posted: 06-Apr-05 at 06:21 \| IP Logged

Starting to move in Australia - up 2.5 cents at moment .

12vic
Regular Contributor

Joined: 20-Dec-02
Location: United Kingdom
Posts: 76

Posted: 07-Apr-05 at 07:14 \| IP Logged

Did you buy in Stringy ?

I get the impression this must be one of those hidden gem shares nobody knows much about . A small mining company thats got a 1 million + inferred resource ( with potential for much more ) , loads of money in the bank , a project beyond pre-feasability study , a major bank trying to throw money at it , mine currently under construction , and plenty more money due in in September from a maturing rights issue . Initial production expected 100,000 rising to 200,000 ounces a year , a projected mine life of 21 years . I can't think of a much better scenario to be in at this stage of a companys development . Plant predicted to be in place and operational by early 2006 . Actual ore mining expected to begin 3rd quarter .

12vic
Regular Contributor

Joined: 20-Dec-02
Location: United Kingdom
Posts: 76

Posted: 07-Apr-05 at 20:20 \| IP Logged

There's several things about this share that make me think it will do well .
1. It appears to be entering the final most significant stages of mine development .
2. Unusually for a mining exploration company they have no obvious financial problems and actually look very strong .
3. In terms of inferred resource there is probably more to come as the project moves on .
4. People appear to be keen to keep hold of their shares rather than trade them on price increase . Since end of March price has moved up from 7.5 p to 10 p on very low volume , approx 300,000 trades of which only 30,000 have been sells . There have been 2 very positive rns's in this short time and normally I'd have expected to see some profit taking into strength but this hasn't happened which I take as a fairly positive sign that people are holding as they are confident of far more in the future . Although the trading patterns are different in Oz (much higher volume ) , I believe there is much the same underlying feeling over there .

I think we can expect a period of slow steady growth as the mine production work continues , then a build up of interest towards the end of the year .

stringy
Member
Member

Joined: 26-Apr-04
Location: United Kingdom
Posts: 1

Posted: 08-Apr-05 at 00:15 \| IP Logged

Hi 12 vic!

I believe I did!

I Say believe because on arriving home from work I checked my Comdirect account only to find no metion of BGF and the money still sat in my account.

I called them this AM and they confirmed that the transaction had taken place but didn't understand why they couldn't see it on their monitor either.

Just checked again and it's still not showing! So I'll be calling them again tomorrow.

I agree with all your above comments and thanks for bringing BGF to my attention.

Though very late and being very tired (almost asleep in my chair) I spent about an hour over these trying to find the 'catch'. I was just about to call it a day when I saw your post......I was looking for posts on my other holdings. Like a zombie the next day but I'm sure it was worth it.

Just got clear up the problem re Comdirect now. Can't understand it....never happened before!

12vic
Regular Contributor

Joined: 20-Dec-02
Location: United Kingdom
Posts: 76

Posted: 08-Apr-05 at 16:04 \| IP Logged

Best of luck sorting out comdirect !

Edited by 12vic on 08-Apr-05 at 16:04

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