# ERN - Erongo Energy



## imajica (1 November 2006)

Louisiana Petroleum changes its name today to Erongo Energy.

Radiometrics look twice as big as Rio Tinto's Rossing uranium mine.


This stock is going up!


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## chris1983 (1 November 2006)

*ERN - Erongo Energy Limited*

Formally known as LOU (Louisiana Petroleum)

Highlights from their first quarter activities are below.  Their uranium tenements look good.  No drilling as of yet..can only go by their radiometric map comparisons with Langer Heinrich and Rossing..but it looks promising.

_• Shareholder approval has been obtained for the acquisition of rospective
uranium interests in Namibia covering an area of approximately 920 sq km.

• The transaction, announced to the market 18 September 2006, is now only
dependent upon completion of due diligence by the Company, which is progressing well and is expected to be completed by the end of next week.

• The granting of the two tenement applications that comprise the pitskoppe Project, pursuant to this Agreement, is imminent. All documentation and budgets satisfy government criteria.

• Subject to the granting of these tenement applications, and completion of the proposed transaction, a budget for the initial phase of exploration of USD$544,000 has been provided for, and will be sourced from existing cash reserves.

• Development work on the Caddo Pine Island Project in northern Louisiana remains ongoing. Additional wells have been identified as suitable for pump jack installation, over and above those initially budgeted for, and as such the development program has been extended to include these wells. This additional development work is expected to be completed within this current
quarter at a cost of approximately $100,000._


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## imajica (1 November 2006)

very low volume today - will take a few days before people realise that ERN is actually LOU

could someone post the image of the radiometric scan? thanks


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## chris1983 (1 November 2006)

This is definately what you would call a major spec.  Still in very early stages.  Looks good though.  I'm hoping for it to be another Bannerman.  Low market cap.  Potential is there Imajica..just a waiting game now.

Unlike Bannerman they have no historic drilling in this area etc etc so all speculators have to work off is their current radiometric comparisons and the fact that they are based in Namibia which is known for uranium mineralisation.


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## imajica (1 November 2006)

this stock is going to warm up over the next few months as drillling begins on their tenements. Radiometrics that significant can't be ignored by the market forever. best to get in on stocks like this on the ground floor


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## imajica (1 November 2006)

For those people who haven't seen it, here is the radiometric comparison between Erongo's tenements and the existing Rio Tinto Rossing Mine and Langer Heinrich deposit - ERN tenements are outlined in the image below


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## dj_420 (2 November 2006)

it certainly looks good when compared to langer and rossing mines and langer was a company make for PDN. one question is that if the resource is at a certain depth do radiometrics still pick up on the resource??

this may be the case for PDN deposit, it looks like there is nothing there but could this be due to depth??

anyway based on what i have seen could be worth a punt. any other opinions?


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## imajica (2 November 2006)

share price looking sronger today, interest is building


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## chris1983 (2 November 2006)

Yeah looks good. Lets hope they get granted those 2 extra tenements   The ones they have allready are great..but the ones they are going for seem to be good aswell.  The more the better.


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## imajica (2 November 2006)

mainly larger orders going through - accumulation maybe?

smart money will get set over the next few weeks


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## imajica (2 November 2006)

Here are further images outlining the geographical proximity to other world class uranium deposits and its ideal location within a region renowned for its Uranium

enjoy!


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## imajica (3 November 2006)

this stock is being largely ignored at the moment

the investor roadshow is happening over the next few weeks - the namibian radiometric surveys will undoubtedly attract the attention of a wider audience.


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## kevro (6 November 2006)

The company previously known as Louisiana Petroleum (LOU) announced today that the purchase of the U prospective properties is today unconditional after due diligence has been performed and expect to settle in 1 week approximately.

This gives them 2 approved exploration sites in Namibia with another 2 uncontested applications due for approval shortly and another 5th site which is currently in dispute.


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## chris1983 (7 November 2006)

In my mind one of the best priced uranium stocks on the market atm.  One to keep an eye on.  Great prospects due to its location with no restrictions on uranium mining.  The erongo mountains license is very interesting. 3 extra epl's are also pending.  Not many sellers with this one...A bit of positive news will see it double with ease due to the small amount of shares on issue.


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## chris1983 (8 November 2006)

Held up well considering most uranium stocks got hit today.  Hit its 52 week high of 56.5.  This one is yet to have the run it deserves...market cap is really nothing atm.  If the additional tenements get granted we are set...I still think we are set even if they dont get granted the extra tenements..but the granting of tenements will push the sp higher...faster.


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## kevro (8 November 2006)

Hi Chris, any idea when the 2 sites they have applied for are due for approval. I know they have a big red tape department like all governments handling these and I know EXT's where supposed to be approved in Jan / Feb this year. They have only been rubber stamped recently. I have laft the site in dispute out as this could go on for a while.


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## kevro (8 November 2006)

In addition when EXT did get the licences we saw what happened to there SP. They have around 800,000,000 shares as opposed to ERN.


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## chris1983 (9 November 2006)

kevro said:
			
		

> Hi Chris, any idea when the 2 sites they have applied for are due for approval. I know they have a big red tape department like all governments handling these and I know EXT's where supposed to be approved in Jan / Feb this year. They have only been rubber stamped recently. I have laft the site in dispute out as this could go on for a while.




They have 3 more licenses they are trying to get.

_"A further tenement application has been made by the Company’s Namibian subsidiary, as illustrated as Area 5 in Figure 1 below. It should be noted that this application is being contested and is under appeal by a third party. The tenement is prospective for uranium and lies to the west of the Erongo Complex.

The Company also has two tenement applications, announced to the market previously and illustrated as Areas 3 and 4 below, for which a decision on granting is imminent. These applications are not being contested."_

So we have one license that is being contested..but two licenses that they should get.  No one else is trying to grab those tenements.  I have no idea how long the process takes..But if they come out of this with 4 tenements we are looking good.  The best tenement they have is the erongo mountains tenement that they allready have.  Lots of primary and secondary uranium occurrences are within that license   The radiometrics also make both epl's look outstanding...hmm wouldnt mind getting more.


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## chris1983 (16 November 2006)

Up 17% today.  They seem to have listed on the german exchange.  See link below.

http://www.wallstreet-online.de/community/thread/1094590-1.html


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## chris1983 (18 November 2006)

Well investors in Germany are willing to pay 70 cents australian for this stock.

They hit 0.42 EUR.

0.42 EUR Euro 	=	0.700930 AUD Australia Dollars


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## kevro (18 November 2006)

ERN up another 13 % in Frankfurt overnight. That makes it about.70c after conversion.


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## Sean K (18 November 2006)

Had a good run guys. Double in a month. Triple in 3. 

Tech posted this as a breakout yesterday I think and it looks like it's going to run further to me.

Might try and jump on Monday am. Good stuff.


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## nizar (18 November 2006)

kennas said:
			
		

> Had a good run guys. Double in a month. Triple in 3.
> 
> Tech posted this as a breakout yesterday I think and it looks like it's going to run further to me.
> 
> Might try and jump on Monday am. Good stuff.




I was expecting a bit more from this on friday.
Wanted to take a position but i wasnt convinced by the sp action.
CHart still looks good though.


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## GreatPig (18 November 2006)

I did buy on Friday, but was also hoping for something a bit better than what it did.

Will be watching it fairly closely next week.

GP


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## Ken (19 November 2006)

where do we find the next one of these i want in at 9 cents!!!! happy days then....

imagine you are in the know.....  errr


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## chris1983 (19 November 2006)

Ken said:
			
		

> where do we find the next one of these i want in at 9 cents!!!! happy days then....
> 
> imagine you are in the know.....  errr




Um...this one still has a long way to go imo.  Its up to you if you think you missed the boat.  I think anyone getting in now will still make very nice profits.  Thats just my opinion though.


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## nizar (20 November 2006)

I thought this may run with the early break upto 63c.


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## emily (23 November 2006)

Whats going on now ??? How long are these licenses taking... ?


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## chris1983 (23 November 2006)

Could take awhile.  Extracts took some time.  The epl's they allready have are good even if they didnt get anymore.

The more the better though.


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## emily (24 November 2006)

I hope it doesnt close below .50 today =[


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## chris1983 (24 November 2006)

emily in these high risk plays there will be movement in SP.  especially if someone wants to offload a decent parcel.  Investors can see no major movement atm so they are going to try get them as cheap as they can.  Support should come in for this though if it falls in the 40's.  Thats my opinion.  I believe there is too much potential with their two current epl's for this to ever freefall.  Im holding and will pick up another 10,000 if GDN makes me a decent profit.  All the best


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## emily (4 December 2006)

did u get another 10,000?


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## chris1983 (4 December 2006)

Not yet.  Cash is tied up atm.  Not willing to sell anything to grab more just yet.  Waiting for GDN to double then I can sell half and put that cash into ERN.  I have to stick to my trading plan


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## nizar (4 December 2006)

chris1983 said:
			
		

> Waiting for GDN to double then I can sell half and put that cash into ERN.  I have to stick to my trading plan





How long will you give GDN? ie. to double
(im just curious)


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## chris1983 (4 December 2006)

nizar said:
			
		

> How long will you give GDN? ie. to double
> (im just curious)




haha a month if everything goes as planned 

Holding can work.  Check out AOE..my largest holding.  No reason to sell those puppies.  $2+ in 6 months time.

I still believe in GDN.  Waiting for results on their drilling.


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## chris1983 (5 December 2006)

emily said:
			
		

> did u get another 10,000?




Topped up today.  Sold Tamaya resources for a good profit.  Figured this one will run soon.  So im on with a decent parcel.  Market cap based off ordinary shares is 14.5 million and fully diluted comes to just over 30 million dollars. This is very small when compared to other Namibian uranium explorers market caps such as BMN/DYL/EXT and WME. Erongo also have a 90% interest in their two granted tenements.  

They also have 3 more epl's that are on the cards. Two of which they have applied for are both uncontested tenements so I'm expecting them to atleast gain two more epl's on top of their existing two epl's.

This is why I believe this stock is severely undervalued.

Just my thoughts.  Could fall further short term..but I believe they will provide significant gains.


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## djones (5 December 2006)

Did you top up on ERN or ERNO?


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## chris1983 (7 December 2006)

djones said:
			
		

> Did you top up on ERN or ERNO?




topped up on ERN.  doubled my holding.  was in at 42.5

They have gone up on really low volume atm.  Im waiting for their new licenses to be granted.


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## emily (7 December 2006)

what are ur tips on the sp after they are granted?


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## chris1983 (7 December 2006)

Hey Emily,

Erongo are a spec play..so expect some fluctuations when no message is released.  Their current licenses contain granite type rock which is the source for primary uranium mineralisation (Just like the rossing and goanikontes deposits.)...not secondary (paladins langer heinrich deposit).

They are very cheap atm..considering they have oil assets in louisiana which are providing cash flow.  The SP could go anywhere when a message is announced.  Just compare the market caps to other namibian explorers.  I'm hoping for the price to 4 fold.  You have to aim high


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## emily (13 December 2006)

why does my reding say it opened at $0


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## chris1983 (13 December 2006)

Hmmmm not sure. No trades have gone through today.  Pretty quiet with this one.  I actually topped up again..so I'm taking a bit of risk with it.  They are still undervalued IMO.


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## chris1983 (15 December 2006)

News out

*GRANTING OF ADDITIONAL URANIUM LICENCES IN NAMIBIA*
The Board of Erongo Energy Limited (ASX: ERN) is pleased to announce that the Company has been granted two exploration licences at its Spitskoppe Project in Namibia. The Company now holds four granted exploration licences covering an area of approximately 920 sq kms that are prospective for uranium (Figure 1). The licences are located approximately 200km northwest of Windhoek and 150km northeast of the Rossing uranium mine in mid central Namibia. The Company has also made application for a fifth exploration
licence in the same area.

Spitskoppe Project (ERN 90%)
In September 2006 the Company announced it had acquired an interest in two tenement applications located to the west of the Erongo Granites Project. The Company advises that these two applications have now been granted (EPL 3477 and EPL 3523). As previously advised, the eastern licence (EPL 3477, covering 138 sq kms) has potential to host a calcrete deposit similar to Langer Heinrich or Spitskoppe to the south. A ground survey has identified a substantial amount of calcrete within the licence area. The well
defined drainage system in the area is towards the west suggesting the Erongo granites as well as surrounding granites to the north are a likely source of uranium. Both of these granites have a high uranium content. The depth of sediment is unknown but in the Spitskoppe area to the south calcretes are in excess of 30m. The western licence (EPL 3523, covering 365 sq kms) has potential to host both granitic and secondary mineralization. A major regional lineament transgresses the property and could possibly be enriched in uranium. Two significant uranium occurrences have been previously reported along the same lineament.

Exploration Programme - Spitskoppe and Erongo Granites Projects
The project areas have not been subject to detailed modern exploration. The Company has acquired raw data in relation to the project areas from the airborne radiometric survey flown previously by the Geological Survey of Namibia. The data is being reprocessed to better define prospective targets within the project areas which will be followed up with detailed sampling, commencing in the first quarter of 2007. Identified targets will then be drill tested. 

Scientific or technical information in this news release has been prepared under the supervision of Mr Klaus Eckhof, a consultant to the Company and a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Eckhof has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code).


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## emily (19 December 2006)

-12%..... oh dear....


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## chris1983 (20 December 2006)

Emily..the trading with this means nothing today.  Yesterday the shares hit 47 cents..off 800 thousand shares traded.  That was decent.

There was still 500 thousand shares to be bought from 44.5 to 46 cents at the end of the day yesterday.  These buy orders were all pulled overnight..because they know you will get weak holders selling out when they see the buyers dissapear. They know they still have time to get on board..but how much time is the question.  See the trades that went through to pull the price down below.

19	         3:55:10 pm	    40.5	 *2,100*	1.5	$851	        1
18	         3:01:15 pm	    42	         *10,000*	0.5	$4,200	1
16 - 17	2:59:57 pm	    42.5	*13,000*	2.5	$5,525	2
10 - 15	1:17:11 pm	    45	         *58,550*	1	$26,348	6
8 - 9	         10:35:10 am   46	         *10,000*	1	$4,600	2

This is when the drop happened..talk about weak.  100,000 shares traded to pull the price down to 40.5 and 2100 shares sold at the end of the day to attempt to trigger some stop losses..they may well achieve what they were trying to do..we'll find out on open tomorrow.  Erongo now hold 4 EPL's in Namibia..are still applying for one more and are cash flow positive from their oil assets.

Im still very confident.


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## chris1983 (20 December 2006)

Well I have just done an overall Summary with some images to give an overall wrap on how Erongo has progressed with their current licenses in Namibia.  We all know that the Granitic type rocks in Namibia is the primary source of Uranium Mineralisation.  

Currently Erongo have been granted 4 EPL’s in Namibia with 1 more still on the cards.  They also have Oil assets in Louisiana providing cash flow which will help in the exploration on their Namibian EPL’s







The Erongo mountains EPL1  on the map contains a large granitic ring complex, whereas the Spitzkoppe mountain is relatively small, Erongo is massive at 45kms in diameter with a metamorphic belt extending outward an additional 15 to 20 kms (see image below).  As I stated earlier Erongo are currently applying the Spitzkoppe EPL5 on the map which already contains a small deposit.  This would be huge if they could be granted this EPL because it gives the company an already existent deposit.






Area No. 5, which (still) is “contested”, covers the attractive small Spitzkoppe DEPOSIT, which is mentioned on the official homepage of the mine Ministry http://www.mme.gov.na/gsn/uranium.htm with the following values:

_“… The arid coastal belt OF western Namibia has numerous calcrete hosted uranium DEPOSITs, which could investigated and developed. Examples OF some known occurrences include: Small Spitzkoppe uranium (5 Mt ore grading 287 ppm U3O8),…”_

An image of Spitzkoppe is below.






Back onto the first two licenses that were granted.  We can see some comparisons from the Radiometrics obtained.  From the images provided in earlier announcements you can see that the first 2 EPL's are extremely promising.  I know this has previously been posted but I'm adding it to my summary.  Plus im bored and have nothing else better to do.










Good luck if your on board with this stock.  Just remember this is a spec stock and can be volatile.  I believe they are a great play though and will give excellent returns in 2007.


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## mmmmining (20 December 2006)

chris1983 said:
			
		

> Well I have just done an overall Summary with some images to give an overall wrap on how Erongo has progressed with their current licenses in Namibia.  We all know that the Granitic type rocks in Namibia is the primary source of Uranium Mineralisation.
> 
> Currently Erongo have been granted 4 EPL’s in Namibia with 1 more still on the cards.  They also have Oil assets in Louisiana providing cash flow which will help in the exploration on their Namibian EPL’s
> 
> ...




Thanks for the info. I just have got a bit at open to complete my coverage for Namibia.


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## chris1983 (20 December 2006)

mmmmining said:
			
		

> Thanks for the info. I just have got a bit at open to complete my coverage for Namibia.




No worries.  Im confident this will move up eventually.  ATM it is the most undervalued namibian uranium play mainly because it is in earlier stages.  I tried to find out who is contesting the spitskoppe epl and I think it is reefton mining.  If it is them then we have a good chance of getting it.  Klaus Eckhof has many ties in Namibia and I believe he will be able to secure the license for ERN.


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## Mr Right (20 December 2006)

chris1983 said:
			
		

> No worries.  Im confident this will move up eventually.  ATM it is the most undervalued namibian uranium play mainly because it is in earlier stages.  I tried to find out who is contesting the spitskoppe epl and I think it is reefton mining.  If it is them then we have a good chance of getting it.  Klaus Eckhof has many ties in Namibia and I believe he will be able to secure the license for ERN.




I told you were a bit more sensible than that. You pulled off GDN which already had a commercial well and into something which is so speculative. They have nothing. Well I have done the same mistakes, it will cost you money. One advice if you want to take it to make quick bucks go into something that is sure for example HAZ. The guys are drilling for nickel the same deposit was drilled in the 1980 and the results were excellent what is the risk that they wont get the same results? They did it for the tungsten deposit and the results were even better than 1980. The nickel will be the same. With nickel price predicted to double and the ore being sulfide ore very easy to treat you looking at double for this share in 2 months..

We learn until we breathe so dont worry the market has another 2 - 3 years for us to make money!


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## chris1983 (20 December 2006)

I dont mind GDN.  I decided to put a lot of money into this one though.  Take a risk at the early stages.  Its holding well.  Compare it to other namibian explorers.  You'll be able to work out where the sp can go.  I think the sp rising 4 fold is a high possibility.


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## chris1983 (22 December 2006)

Research report out

http://www.rmcapital.com.au/pdfs/RMR_ERN_21_12_2006_FINAL.pdf

A good read.  Enjoy


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## Halba (22 December 2006)

his chris

this report looks good. additional anomalies are there on their spitzkoppe tenements. i look forward to a good 2007. if it can do even 1/10 of banner man's run i'd be happy (as first of all i'd get my money back ). Mkt cap is $14 million for 4 uranium tenements in namibia, thats $3.5m a tenement

:


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## mmmmining (22 December 2006)

chris1983 said:
			
		

> Research report out
> 
> http://www.rmcapital.com.au/pdfs/RMR_ERN_21_12_2006_FINAL.pdf
> 
> A good read.  Enjoy




Thank you Chris for the report.


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## chris1983 (22 December 2006)

Keep an eye out for that message with the fifth tenement being granted.  The "short term" share price of this stock is relying on that tenement being granted IMO.  It will be a huge boost as that tenement allready contains a historical resource with limited exploration in the area.  Lets hope they get that tenement.  If they dont they still have some great grounds allready.  Definately further behind the other namibian uranium plays but we have seen what has happened with those other companies.

Best part about Erongo is they can fund their exploration to a certain extent.

_"The Company has retained its Louisiana petroleum assets and production from the field in the near term is expected to be at approximately 600 barrels of oil and 2 million cubic feet of gas per month generating a modest operating cash surplus;"_

Lets sit and wait now guys.


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## jtb (28 December 2006)

chris1983 said:
			
		

> Keep an eye out for that message with the fifth tenement being granted.  The "short term" share price of this stock is relying on that tenement being granted IMO.  It will be a huge boost as that tenement allready contains a historical resource with limited exploration in the area.  Lets hope they get that tenement.  If they dont they still have some great grounds allready.  Definately further behind the other namibian uranium plays but we have seen what has happened with those other companies.
> 
> Best part about Erongo is they can fund their exploration to a certain extent.
> 
> ...




Chris- did you notice the single 500K order go through yesterday on the oppies (@25c)? 
Stood out like the proverbial on a quiet day


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## chris1983 (28 December 2006)

jtb said:
			
		

> Chris- did you notice the single 500K order go through yesterday on the oppies (@25c)?
> Stood out like the proverbial on a quiet day




Definately saw it.  I'm just waiting.  I have accumulated a lot of these and am hoping the move pays off.  I do feel confident but you never know with spec shares


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## dubiousinfo (28 December 2006)

Halba said:
			
		

> his chris
> 
> this report looks good. additional anomalies are there on their spitzkoppe tenements. i look forward to a good 2007. if it can do even 1/10 of banner man's run i'd be happy (as first of all i'd get my money back ). Mkt cap is $14 million for 4 uranium tenements in namibia, thats $3.5m a tenement
> :




The Mkt cap is actually $28m at a SP of 40c. While it has 35mil shares, you need to also add in the 37mil 20c opies that are in the money.


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## chris1983 (28 December 2006)

dubiousinfo said:
			
		

> The Mkt cap is actually $28m at a SP of 40c. While it has 35mil shares, you need to also add in the 37mil 20c opies that are in the money.




Yeah thanks. I know.  I dont put the fully diluted market cap all the time.  I think I mentioned there were options.  The oppies dont expire for ages...but the stock is still very cheap.


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## dubiousinfo (28 December 2006)

chris1983 said:
			
		

> Yeah thanks. I know.  I dont put the fully diluted market cap all the time.  I think I mentioned there were options.  The oppies dont expire for ages...but the stock is still very cheap.




Chris 
I agree the stock looks good and have added it to my watchlist.
As to the Mkt cap & opies, although the opies dont expire for ages they can potentially be exercised tomorrow and with the SP at double the exercise price, I think you need to include them for a realistic Mkt cap.  Just my thoughts.


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## mmmmining (28 December 2006)

chris1983 said:
			
		

> Definately saw it.  I'm just waiting.  I have accumulated a lot of these and am hoping the move pays off.  I do feel confident but you never know with spec shares



Keep good faith on this, Chris. I am with you. Good things hardly happen overnight. Remember nobody want 3 cents PDN a few years ago. 

But I do worry about your accumulating it unless you have a very good feel about the risk/reward. I guess you are since you have done very deep research. Good luck.


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## chris1983 (29 December 2006)

mmmmining said:
			
		

> Keep good faith on this, Chris. I am with you. Good things hardly happen overnight. Remember nobody want 3 cents PDN a few years ago.
> 
> But I do worry about your accumulating it unless you have a very good feel about the risk/reward. I guess you are since you have done very deep research. Good luck.




Well I want rewards..I know there is risk with this one...could lose but hey I'm pretty far in front for the year so I'm having a go on this one because I like their grounds in Namibia.  Ive researched what they currenty have and the areas havnt had much exploration done on them yet.  Its in very eary stages so we dont have much to go by atm.  Erongo's EPL's in Namibia contain a lot of granite ore which is the source of primary uranium mineralisation such as the Goanikontes and Rossing deposits. 

I also took into consideration other uranium explorers in Namibia..and hey..this looked like a good deal to me.  They have a 90% interest in their EPL's which is great.  They also have cash flow from existing oil assets and I consider that very important for the funding of future exploration in Namibia.

I actually contacted Patrick Flint the Executive Director and spoke to him about a month ago now.  He seemed confident.  He does know they are in a very early stage and things will get off the ground in the first quarter of 2007.  Nothing you guys dont allready know.

I also bought into them because of the guys in the top 20 holders list.  They arent stupid.  Klaus Eckhof, Reg Gillard and Dr Leon Eugene Pretorius are major share holders in this one. Those guys arent stupid.

Link on Reg Gillard below.

http://www.eneabbagas.com.au/index.php?page=viewStory&title=Board+of+Directors

Link on Klaus Eckhof below.

http://www.aurora-gold.com/s/about.asp

Link on Dr Leon Eugene Pretorius.

http://www.investegate.co.uk/Article.aspx?id=200506300700282505O


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## crazyjimsmith (29 December 2006)

I have liked this stock ever since the uranium whispers started when it was called Louisiana Petroleum.

The airborne surveys look very nice and point to a quite possibly very promising future.


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## bigt (29 December 2006)

After some research, jumped on board today at 40c...seems like this is due for a   short term increase..as has been lagging other U stocks...plus great long term potential. Thanks for the info all who posted.


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## chris1983 (2 January 2007)

Rising niceley.  Looking the goods this one.  I think its going to have a great 2007.  Drilling will commence this year and the anticipation will cause it to take off.  Uranium is hot..and these guys have some great licenses.  Come on Erongo claim that 5th license and then she'll power for sure!


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## Morgan (2 January 2007)

Thanks for your posts Chris.
My 'buy gain' trigger got hit this morning so I am now a shareholder.
It will be good if the oil/gas interests can help fund the uranium drilling.
By the looks of it, they only produce around 600 barrels of oil a day?? When you take out the cost of production, that is not a lot of money in the hand.
Have you found anywhere the revenue they collect from the gas interests?


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## chris1983 (2 January 2007)

Hey Morgan ive read it somewhere.  I'll try find it late tonight some time.  Good luck with erongo.  Ive researched hard into this one and hopefully it pays off because ive put a fair slice of my portfolio into it.  It should be the next uranium play in Namibia to take off IMO.


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## chris1983 (3 January 2007)

"Erongo energy Limited (Erongo) listed on the ASX in July 2005 as Louisiana
Petroleum Limited. At listing the Company main asset was an interest in the
Caddo Pine Island Petroleum Field located in Louisiana, USA. Production from
the field in the near term is expected to be at approximately 600bbls of oil and 2MMcf of gas per month that will generate a modest operating cash surplus. Any additional development work will be self-funding and the asset is expected to be profitable in the first half of 2007."


The oil and gas assets are not going to push them through the roof..its up there how much they will produce but I'm not going to work it out just now..maybe later.  The uranium hype is the one that will make them fly.  The oil and gas is not huge but it is cash flow for them and will help if only a little bit.  Atleast it has some form of revenue coming in unlike most uranium explorers which is a positive for Erongo.


----------



## JWBH01 (13 January 2007)

What is going on with the options, starting to head south.


----------



## sydneysider (15 January 2007)

Erongo is on a sprint. Shares just hit 50 cents up 6 and oppies are at 33 up 8 cents. Bidding is very aggresive. ERN has some very large radiometric anomalies located on its Namibian claims located near Langer Heinrich and Rossing. Could attract a lot of speculative attention.


----------



## Halba (15 January 2007)

email from technical director Mark informs me that results from radiometrics expected within days

intense ground exploration is going to immediately follow this month for soil sampling and then drilling in possibly Late March 2007


----------



## Jus (16 January 2007)

Nice volume these 2 days. Up 13% yesterday and 5 % today. Definately some interests building towards their U308 exploration in Namibia. The one to watch.


----------



## Morgan (17 January 2007)

Nice close again.


----------



## Jus (17 January 2007)

Morgan said:
			
		

> Nice close again.




Indeed! Nice close on healthy volume and lots of 20K's parcel bought. Shouldn't be too long for the ann. on U survey in Namibia   Hold tight!


----------



## chris1983 (18 January 2007)

Some good upward movement with this one.  Increased volume.  Big buyers coming in of late.  Is it insiders or speculators willing to have a go..who knows..looks very interesting though.  News could be close.


----------



## Sean K (18 January 2007)

Looks to be recovering ok.

I've been trying to find some more information on these guys but there's not much out there. No company presentations or anything on the ASX. I googled them and doesn't seem to be a web site either. 

Can someone point me in the direction of a website, if they have one....thanks!


----------



## chris1983 (18 January 2007)

here you go Kennas.

http://www.erongoenergy.com.au/

Theres not much on the except for a rm research report.  I think I posted the link in the thread.


----------



## Sean K (18 January 2007)

chris1983 said:
			
		

> here you go Kennas.
> 
> http://www.erongoenergy.com.au/
> 
> Theres not much on the except for a rm research report.  I think I posted the link in the thread.



Thanks Chris. 

Must be one of the few U potentials with a market cap under $20m, if not the only one. Possibly because their Namibia foray is at a pretty early phase. They're still just trying to identify targets for drilling. Perhaps when they find a target and ann drilling it will get a boost. Will be interesting to see how quickly they can get things moving. Just getting hold of a drill seems difficult these days..

The radiometric survey looks pretty impressive when compared to Rossing and LH, but I don't know enough about all those colors to have a qualified opinion.

What do you think about management. They all seem to be bankers/brokers except the Sth African Geo. They didn't own a dot com did they?   

Not much in the chart. Might have found a bottom at $0.40 for the minute. MACD looks very good.


----------



## sydneysider (18 January 2007)

kennas said:
			
		

> Looks to be recovering ok.
> 
> I've been trying to find some more information on these guys but there's not much out there. No company presentations or anything on the ASX. I googled them and doesn't seem to be a web site either.
> 
> Can someone point me in the direction of a website, if they have one....thanks!




Kennas, there is a research report at RM Capital website. All of the interest is coming from the fact that ERN has two massive radiometric anomalies on their Erongo lease. A quick comparison with Langer Heinrich radiometric signal shows that Erongo has  two signatures that are 10-20 times larger than at Langer Heinrich and 3 times larger than Rossing. These radiometric signals stretch out for 35 kms long and 5-10 kms wide, the second one is 15 kms x 10 kms. That means there is a very wide dispersal of surface U on the ERN leases (even a few inches of soil will mask the gamma radiation from the U). IMHO this will attract an awful lot of speculation.


----------



## Sean K (18 January 2007)

sydneysider said:
			
		

> Kennas, there is a research report at RM Capital website.



Thanks Sydneysider. I don't know too much about RM Capital. Are they reputable? I noticed they got paid $30K for the report, and they own the stock.....


----------



## sydneysider (18 January 2007)

kennas said:
			
		

> Thanks Sydneysider. I don't know too much about RM Capital. Are they reputable? I noticed they got paid $30K for the report, and they own the stock.....




My understanding is that they are very astute operators. Read the report and closely examine the size of the radiometric signal, it is truly very large. ERN reminds me of Bannerman when it was at 50 cents.


----------



## chris1983 (18 January 2007)

kennas said:
			
		

> Thanks Chris.
> 
> Must be one of the few U potentials with a market cap under $20m, if not the only one. Possibly because their Namibia foray is at a pretty early phase. They're still just trying to identify targets for drilling. Perhaps when they find a target and ann drilling it will get a boost. Will be interesting to see how quickly they can get things moving. Just getting hold of a drill seems difficult these days..
> 
> ...




Hey Kennas,

I pretty much bought them from the reasons you mentioned being radiometrics and market cap.  They are cheap compared to others and I personally think they hold better ground than some of the other uranium explorers in Namibia.  They also have a 90% interest in their tenements.  Management is not the best but they seem to be doing a good job.  I say this because I spoke with Patrick Flint the executive director and they are moving things along as fast as they can..he seemed decent and I just have to wait to see if we get results with the sp and moving the company forward.

Klaus Eckoff is handling everything within Namibia and he knows his stuff...he is also well known and respected.  I think they will tie up the only tenement left they are trying to get approved which will also have a historic resource on the grounds.  See the last post on page three of this thread.  Have a read of the share holders within this company.  Enormous potential.


----------



## Jus (18 January 2007)

kennas said:
			
		

> Thanks Sydneysider. I don't know too much about RM Capital. Are they reputable? I noticed they got paid $30K for the report, and they own the stock.....




All stock brokers get paid for writing a short report.. otherwise why would they call themselves "licence" brokers at the first place.


----------



## Sean K (18 January 2007)

Jus said:
			
		

> All stock brokers get paid for writing a short report..



 Are you sure Jus? So when a broker puts a sell on a stock they get paid for it?   

I think we're talking about different kinds of broker reports, or analysis, aren't we......


----------



## Broadside (18 January 2007)

Jus said:
			
		

> All stock brokers get paid for writing a short report.. otherwise why would they call themselves "licence" brokers at the first place.




some brokers get paid, but they have to disclose it...likewise they have to disclose when they own securities in the company...there are often conflicts of interest eg a broker writing a favourable report to keep or attract corporate business with the company, but it is certainly not always the case they receive a financial or other benefit.

There is such a thing as an independent broker report jus!


----------



## Jus (18 January 2007)

Broadside said:
			
		

> some brokers get paid, but they have to disclose it...likewise they have to disclose when they own securities in the company...there are often conflicts of interest eg a broker writing a favourable report to keep or attract corporate business with the company, but it is certainly not always the case they receive a financial or other benefit.
> 
> There is such a thing as an independent broker report jus!




Reports/analysis get paid, whereas recommendations don't. Think u guys are talkin about recommendations.


----------



## JWBH01 (19 January 2007)

What do you think the speculative buying will push the share and the option price out to?


----------



## exberliner1 (19 January 2007)

just look at the depth....at close today there was only 100k shares on the ask side between 58c and 90c....The bid side was reguarly above 1mn within a cent or two of the market price...

It can only go up on Monday imo ....no one wants to sell...plenty want to buy.

EB


----------



## chris1983 (19 January 2007)

depth is looking really good..I hope its up on monday   Actually I hope they just secure the final license.  Thats all I want to hear.


----------



## exberliner1 (19 January 2007)

This is a post from HC......well done again Lenni..

Anyone got any comments....

I am just glad I bought some more today....to addto my free carried holding from last year...

I took the aeromagnetical image map and crossed it with the historic claims map (uranium report by Namibian Ministry of Mines and Energy) and transfered the data into a google-earth image of the region. As you can see the historical drilling with U3O8 grades up to 380ppm occured in our licence area No. 1

Cheers

Lenni


----------



## exberliner1 (19 January 2007)

oh dear....the graphics didn't come out in the last post...oh well

EB


----------



## mattyl2003 (20 January 2007)

Any affect with the lower Oil prices, and now there saying Petrol will hit below $1??

Ideas how it will affect this stock?


----------



## Morgan (20 January 2007)

Time frames for the development of nuclear power stations look well into the future needs of cities/countries. I can't see those forward-looking plans suddenly being shelved over short-term fluctuations in the oil price.
The important thing at this point in time is to try and separate the "wheat from the chaff" when it comes to uranium explorers. Uranium is a commonly occurring mineral so we need to discern between those companies that actually have a chance of producing, and those simply riding the U wave.


----------



## Halba (20 January 2007)

i don't get it Mattyl

is erongo exploring for oil? or is it uranium


----------



## TheAbyss (20 January 2007)

What effect the water crisis on nuclear power decisions? The price of oil is a consideration however water is a must for most of the existing power stations isnt it? Would that precipitate a swing towards nuclear which would have a positive impact on U?

Forgive me if i am totally wrong on this please.


----------



## exberliner1 (21 January 2007)

nuclear power stations in the UK are by the sea.....lots of water in the sea I am reliably informed....so water is not really an issue

EB


----------



## chris1983 (23 January 2007)

Looking good guys..hopefully we can see it hold in the 60's and build a new base at these levels.


----------



## sydneysider (23 January 2007)

chris1983 said:
			
		

> Looking good guys..hopefully we can see it hold in the 60's and build a new base at these levels.




Now at 63. U dementia might take this one a lot higher.


----------



## chris1983 (23 January 2007)

hit 63.5.  Broke its previous high..and buyers are building.  News on the cards? or maybe investors just realising its undervalued.


----------



## Sanhedrin (23 January 2007)

Great research Chris I got in late today as a pure Technical Breakout over 0.63, and then I read some of the research you have put into ERN. 
I may top up tomorrow and enjoy the ride. Up I hope.


----------



## chris1983 (23 January 2007)

I hope they also continue their upwards movement Sanhedrin.  The buyer depth is pretty heavy atm so it does look like it could be a good day tomorrow.  good luck...I think we will continue smiling.


----------



## JWBH01 (23 January 2007)

I hope more and more people realise it is undervalued and push the price upwards.  I also hope that the options have a new base around the 45 cent mark.

Anyone know when some news might be coming along?


----------



## JWBH01 (23 January 2007)

Also, I would like to know people's opinion of this share compared to others also mining uranium like Allegiance Mining (AGS), Deep Yellow (DYL), Pepinninni (PNN) and Uranex (UNX).  Apart from DYL, erongo still behind the others in terms of share price. Why?


----------



## sydneysider (24 January 2007)

JWBH01 said:
			
		

> Also, I would like to know people's opinion of this share compared to others also mining uranium like Allegiance Mining (AGS), Deep Yellow (DYL), Pepinninni (PNN) and Uranex (UNX).  Apart from DYL, erongo still behind the others in terms of share price. Why?




Erongo has leases and identified a number of extremely large radiometric anomalies. These anomalies are found nearby to major uranium mines at Rossing and Langer Heinrich in Namibia. MOst of the other companies on your list have advanced into drilling programs and resource definition. ERN also has a small market cap of under $20 million.


----------



## Sean K (24 January 2007)

sydneysider said:
			
		

> ERN also has a small market cap of under $20 million.



This is what is interesting about this stock. Hardly any U players with a market cap under $50m. Hardly matters if they've dug a hole yet in this environment....


----------



## sydneysider (24 January 2007)

kennas said:
			
		

> This is what is interesting about this stock. Hardly any U players with a market cap under $50m. Hardly matters if they've dug a hole yet in this environment....




Bull markets are great things BUT it is possible to screw up in this environment. MKY gets the award for silliest announcement of the month when they announced that they went panning for U yesterday. They did as little panning as possible (six samples??). Every red blooded speculator knows u pan for gold not u and they promptly dumped on the stock big time.  One of the directors is an ex-Newmont executive (or some other big time gold company), maybe that is where they got the idea to go out and pan for U for the afternoon. I sometimes take visitors up to Dahlonega and we do a little panning for fun, it is easy to do and is much easier or cheaper than digging trenches (back sprain) or flying aromagnetics, you need to book the service in advance and have some technical folks color in the "red" areas where all the U is buried and they are very very busy right now. Sorry Im on the wrong thread, but GO GO ERON-GO let it rain money.


----------



## chris1983 (24 January 2007)

This one is really starting to run now...66 cents.  profit takers came in after open but its still pushing higher.


----------



## chris1983 (24 January 2007)

wow someone knows something.  Big jump straight to 70.


----------



## sydneysider (24 January 2007)

chris1983 said:
			
		

> wow someone knows something.  Big jump straight to 70.




The technical formation on ERN has gone vertical. Will be very interesting to see where the price blows to. Volume has picked up within the uptrend which is very bullish


----------



## JWBH01 (24 January 2007)

Thanks Sydneysider for information.  Getting excited to see where this goes and how long it will go for.


----------



## chris1983 (25 January 2007)

Trading at 43 EURO atm on the Berlin Stock Exchange.  Looks set for a good day tomorrow.

43.00 Euro 	=	71.5458 AUD


----------



## kromey (25 January 2007)

Chris1983 do you follow MRU?


----------



## chris1983 (25 January 2007)

kromey said:
			
		

> Chris1983 do you follow MRU?




Hey Kromey..I dont.  Ill add them to the list.  I havnt really got any other uranium stocks on the rader atm except for ACB.  There are so many of them I just read one and stick to it untill I'm ready to cash in and find another.  Theres so many to choose from..


----------



## kromey (25 January 2007)

Thanks Chris do have ACB and MRU JP Morgan have been buying a fair bit and AGP have 18% they are in TANZANIA. Your thoughts would be appreciated. Also bought ERN after reading your detailed research.   Cheers.


----------



## Morgan (25 January 2007)

Tradin Halt now..............


----------



## Broadside (25 January 2007)

Morgan said:
			
		

> Tradin Halt now..............




Probably a placement and SPP...sometimes this creates a little short term weakness but occasionally it powers onwards, I think the U sector is so hot and Namibia especially that it won't have much impact...I only hold ERNO if it is a SPP would I be able to participate?


----------



## emily (25 January 2007)

bid .75 ..... offer .65 ??


----------



## bigdog (25 January 2007)

Emily

ERN status is Company Trading Status: Pre-Open  

Assume ASX ANN shortly!


----------



## mmmmining (25 January 2007)

bigdog said:
			
		

> Emily
> 
> ERN status is Company Trading Status: Pre-Open
> 
> Assume ASX ANN shortly!



From the ann. It was placed in pre-open for trading halt.


----------



## Reefer (25 January 2007)

With a bit of luck it might be the granting of the final permits in Namibia rather than a placement or SPP


----------



## chris1983 (25 January 2007)

They had 2 million in the bank pretty recently..and the initial exploration costs for the projects was only going to be around 500,000 in which they released in one of their announcements..they also said this had been allready funded from current cash reserves.  They are also getting some cash flow from oil assets even though it may be only a small amount.  So maybe the dont need anymore cash just now?  

Or maybe its a placement to sophisticated investors..get more cash up and get it up fast..to get a more vigorous exploration program running.  Anyway we have to wait and see now.


----------



## emily (25 January 2007)

oops didnt notice the announcement...
so its on halt till tuesday?


----------



## Sanhedrin (25 January 2007)

Chris any reason why they Hold these announcements
for few days? Or is that just standard practice.


----------



## chris1983 (25 January 2007)

Not sure why Sanhedrin..It can be lifted at anytime I think?  As long as the announcement is released.  I usually just wait untill they lift the halt and dont look too much into it.


----------



## chris1983 (25 January 2007)

I have posted this in the past but this time instead of posting the links I'm going to lay it out a bit better just so investors can see some of the guys running the show for Erongo.

You all would of heard of the saying back the jockey not the horse..i think this philosophy stands with ERN.  Of course they need a good resource but I think these guys know what they are doing. Some of their major share holders.

*Reg Gillard *

Reg is the Deputy Chairman of Moto Goldmines Ltd and the Chairman of Aspen Group Ltd, Caspian Oil & Gas Limited, Pioneer Nickel Ltd, Lafayette Mining Ltd and Perseus Mining Ltd and Eneabba Gas.

*Mr Klaus Eckhof (The guy running everything on the ground in Namibia)*

Mr Eckhof is a graduate geologist from the University of Munich, Germany and a member of the Australian Institute of Mining and Metallurgy. He's been involved with Lafayette mining..Moto gold mines..He took Moto gold mines from a 4 million market cap to over 500 million.

*Dr Leon Eugene Pretorius.*

Dr Pretorius BSc (Hons), MSc, PhD, FAusIMM (CP), MAIG, PrSciNat, is a uranium geochemist with 34 years experience in uranium exploration and mining operations, predominantly in Australia and Africa.  Most recently he was a specialist uranium consultant and an Executive Director of Paladin Resources Ltd ('Paladin').  He remains an Executive Director of Langer Heinrich Uranium (Pty) Ltd, Paladin's subsidiary in Namibia, which is currently developing the first uranium mine outside of Canada in 20 years.  He was also consultant geochemist and Chief Executive to Savannah Mining NL and Scorpio Mining NL of Australia and has worked as uranium exploration geologist for Rand Mines, Newmont (Canada) and Rio Tinto.

The experience these three guys have is so extensive.  I believe they are all mates.  They all live in Perth.  Come on guys..make me rich.


----------



## Caliente (25 January 2007)

hey chris - I know you pretty well from the bannerman thread. Just noticed this one go into trading halt. I imagine you're a holder atm. 

Looks like Erongo have some very good jockeys, but what about the horse? 

It scares me to see a 700% appreciation with no grab sample or any ppm figure at all...

What is pretty is the airborne radiometric that looks just like Rossing and LH

Any more tangible info on this one chris?

Cheers
-Cali


----------



## chris1983 (25 January 2007)

Everything I posted within the thread is everything I can think about.  They havn't got samples yet...your right there.  If you want samples I think you can pretty much mark that down..they will 100% have uranium samples to post in the future..they are in Namibia dont forget..the stuff is all over the place..the challenge is finding a deposit large enough and in the one spot to establish a mine.  They aren't some scummy little explorer trying to get the sp up by repeatedly posting samples though...

You have to assess their epl's..the erongo mountains for example has so much granite rock..which is the primary host for uranium mineralisation its not funny..just simply do a search on google about the erongo mountains and the photos will show you the land they have on their epl's.  I have accumulated a fairly large holding off information that isn't concrete..but I have put everything together and they look good to me.  I have taken a slight risk but I never really went into these thinking I was going to lose.  It all depends how comfortable you would feel and what level of risk you believe you would be taking.  They also look extremely healthy when their current market cap is still extremely cheap when compared to other uranium explorers.


----------



## JWBH01 (27 January 2007)

chris1983 said:
			
		

> Trading at 43 EURO atm on the Berlin Stock Exchange.  Looks set for a good day tomorrow.
> 
> 43.00 Euro 	=	71.5458 AUD





Hey Chris,
Great research on this one.  Just wondering where you think this share could go in the next 12 months.  I am hoping this is going to be huge this year.  Also, do you know why there is a massive difference between the stock proce on the Berlin Stock exchange?


----------



## Halba (27 January 2007)

how can you predict where this share can go in 12 months and what kind of question is that?

these are so speculative, share price targets are pointless!

Likely answer: Can go to 30c or it can go to $5?


----------



## chris1983 (28 January 2007)

JWBH01 said:
			
		

> Hey Chris,
> Great research on this one.  Just wondering where you think this share could go in the next 12 months.  I am hoping this is going to be huge this year.  Also, do you know why there is a massive difference between the stock proce on the Berlin Stock exchange?




There isn't too much difference between the berlin stock exchange and the ASX..They finished at 42 EURO on the berlin exchange..that equates to..

42.00 EUR 	=	70.2124 AUD

Pretty close to the price on the ASX.  Well I hope ERN are huge this year too..  Its nice to hear the compliments on the research but research means nothing if the sp doesnt perform..they have run from 40-70 in a couple of weeks so thats something to be happy about but don't be dissapointed if the announcement is a capital raising or placement to sophisticated investors to get more cash in the bank..it could very likely be that..then again it could be something unexpected such as a take over or anything else to make the sp rocket in the short term.  Predicting an sp is impossible..they have such a small amount of shares on issue..could go anywhere..look at what Bannerman did last year.  No one thought that was going to happen.

I still think even if it is a message such as a capital or placement to sophisticated investors did come out it wont hurt the sp much..even if they do offer it at a discounted price to the current sp.  Erongo are in very early stages atm..they still have a long way to go.  Anyway I'm tired..off to bed.  I hope they come off the halt on Monday so we can find out whats happening.  Good luck to the holders.


----------



## bigt (29 January 2007)

Placement..60c.

Should see some downward pressure on SP, though sets a good base. 

One Q..do we (As Australian investors) get any of these?


----------



## chris1983 (29 January 2007)

It was one of the possibilities we spoke about..raise funds to get an "Aggressive" campaign underway.  60 cents is a good price also.  We only broke that just last week.  I think it shows good support from both international and australian investors.


----------



## Broadside (29 January 2007)

chris1983 said:
			
		

> I have posted this in the past but this time instead of posting the links I'm going to lay it out a bit better just so investors can see some of the guys running the show for Erongo.
> 
> You all would of heard of the saying back the jockey not the horse..i think this philosophy stands with ERN.  Of course they need a good resource but I think these guys know what they are doing. Some of their major share holders.
> 
> ...




I don't have any faith in Reg Gillard whatsoever from previous experience with a certain WA company (ASC) but I still think the company has promise.  Would have liked to see an SPP to accompany the placement but c'est la vie.


----------



## chris1983 (29 January 2007)

Broadside said:
			
		

> I don't have any faith in Reg Gillard whatsoever from previous experience with a certain WA company (ASC) but I still think the company has promise.  Would have liked to see an SPP to accompany the placement but c'est la vie.




I dont fully understand you.  Why would you want a SPP just to dilute our current holdings?  They have more than enough cash now.  They probably didnt need any to begin with but only raised funds to get a more "aggressive campaign" underway.  They only put another 3.6 million shares on the market..Im quite happy with how things have gone.  60 cents is going to be a good base level for the stock now.


----------



## Broadside (29 January 2007)

chris1983 said:
			
		

> I dont fully understand you.  Why would you want a SPP just to dilute our current holdings?  They have more than enough cash now.  They probably didnt need any to begin with but only raised funds to get a more "aggressive campaign" underway.  They only put another 3.6 million shares on the market..Im quite happy with how things have gone.  60 cents is going to be a good base level for the stock now.




I would gladly top up at a discount, we are being diluted via the placement, by participating in an SPP that effect is negated somewhat.  Although on face value the placement is at 60c when you allow for the free attaching options (with intrinsic value 42c) on 1 for 5 basis the true placement price is closer to 52 or 53c but that is reasonable I suppose.  Just good that we will be accelerating the program in Namibia, very happy to be holding options this company could do great things in the next 2 years.


----------



## mmmmining (29 January 2007)

I think the price is fair. Of course, everyone want to get the same deal after seeing the SP went up from 40c to 70c within a couple of weeks. But in stead of  feeling bitter about the institutions, maybe you will feeling better just simple asking yourself a question: Where are you when the stock is around 40c?

I used to strongly opposite such freer-ride for institutes, but gradually, I have to get over it. Individual investor/trader is always being disadvantaged. So working hard, make a lot of money, and be institution/VIP in the future and enjoy the free-ride.


----------



## chris1983 (29 January 2007)

No one owning shares in ERN I think would be complaining.  Even the guys who got in at 70 would have to be happy with the way ERN have held up.  Usually after a raising the sp gets smacked down further than what happened today.

Depth is looking great.  There are some big buyers in there and its going to take a lot I think to push this down now.  One direction is left for ERN and thats up IMO.


----------



## kromey (29 January 2007)

With the share placement does already owning options any benefit or do you have to have the shares and what if you buy shares tomorrow?


----------



## wondra (30 January 2007)

Kromey..
Makes no difference. Placement was to sophisticated investors only.


----------



## chris1983 (31 January 2007)

quarterly is out and is extremely promising.  I think this is a great uranium spec to have in the portfolio..I would advise investors who are investing in the uranium sector to read the report.


----------



## towie (31 January 2007)

Chris  what can you tell me if anything about the 5th tenament they are waiting on?

I hold both heads and opps


----------



## chris1983 (31 January 2007)

towie said:
			
		

> Chris  what can you tell me if anything about the 5th tenament they are waiting on?
> 
> I hold both heads and opps




Towie if they get the fifth tenement I will be extremely happy.  This tenement has a historic resource on it.

http://www.mme.gov.na/gsn/uranium.htm

Ill quote the area that shows the values. 

"Klein Spitzkoppe uranium (5 Mt ore grading 287 ppm U3O8)"

Now it hasn't been completely drilled because I'm pretty sure the project was abandoned.  The grades are good enough to be economic and begin a mine.  Its just an additional boost to Erongo if they get this tenemant because they will then have a proven resource and can continue to map out the extent of the resource.

The erongo granites project is the one I think with excellent potential.  Below is quoted from the quarterly report

"Historic work on EPL 3453:
- 63 percussion holes drilled in Area 1 identified a flat undulating zone of mineralization 25- 35m thick over an area of 1,000 x 800m. Actual uranium values are not yet available.

- The first of two diamond holes in Area 1 identified yellow-green secondary uranium mineralisation from near surface in the weathered zone which ranged in value from 134 to 982g/t U3O8.

- Two additional drilled areas reported flat lying uranium mineralization roughly 6m thick. Actual uranium values are not yet available.

- A mineralogical investigation positively identified uraninite as the major primary uranium mineral and a metallurgical study concluded that no metallurgical problems existed.

- Identification of a previously untested 3,000m by 1,000m uranium anomaly.
At EPL 3523 historic mapping confirmed the area is underlain by valley-fill calcrete. A total of 30 percussion holes were drilled on a 1km x 1km grid. Three holes reportedly intersected anomalous uranium. Actual uranium values are not yet available.

• Interpretation of reprocessed regional aeromagnetic and radiometric data has identified twentyone significant uranium radiometric anomalies within the Erongo Complex and adjacentSpitskoppe project areas within both felsic intrusive and palaeo-drainage settings for follow up field investigation."

Its looking better every day for me.


----------



## sydneysider (31 January 2007)

chris1983 said:
			
		

> quarterly is out and is extremely promising.  I think this is a great uranium spec to have in the portfolio..I would advise investors who are investing in the uranium sector to read the report.




One target on the ERN leases was extensively drilled over a 1000m x 800m x 25-35m thickness. That translates to 60,000,000 tonnes of target. Over 21 anomalies already identified for calcrete style u along with commentary about granite on their properties which is the source rock. This was a very promising report and IMHO ERN will run a lot higher.


----------



## towie (31 January 2007)

Thanks mate,

I initially took a look at this because of Leon Pretorius taking an interest,

After reading today the actual size of the mineralization in EPL3453 I am more confident than ever.
With the added cash from the issue this week things should move along quickly we should get news regularly over the course of this year, i look forward to the trenching to start.
The market cap is tiny as it stands.
A great spec play in my opinion.


----------



## mmmmining (31 January 2007)

We can believe anything as long as we know it is speculative stock at this stage. But we have to keep an eye on the drilling results in the future. Otherwise, I will make the some mistake as ACB. 

The reality may be very different from historic data hand picked by management, particularly the roughly 60Mt minerals without any grade figure.


----------



## sydneysider (31 January 2007)

mmmmining said:
			
		

> We can believe anything as long as we know it is speculative stock at this stage. But we have to keep an eye on the drilling results in the future. Otherwise, I will make the some mistake as ACB.
> 
> The reality may be very different from historic data hand picked by management, particularly the roughly 60Mt minerals without any grade figure.




the 60mt i refered to is a quantified drilled out "target" zone that will be re-drilled. The point here is that it is an extremely large target of unknown grade BUT it is uranimiferous. The radiometrics have also identified extremely large targets on ERN ground. Watch ERN trade overnite in Germany, should be very interesting.


----------



## chris1983 (31 January 2007)

mmmmining said:
			
		

> We can believe anything as long as we know it is speculative stock at this stage. But we have to keep an eye on the drilling results in the future. Otherwise, I will make the some mistake as ACB.
> 
> The reality may be very different from historic data hand picked by management, particularly the roughly 60Mt minerals without any grade figure.




With no risk at all come no huge gains.  Dont be too careful.  You are underestimating the potential of ACB imo.  I dont hold them but I have always liked them.  It was either ACB or ERN for me..I picked ERN because I believed they were in an earlier phase and could give me a larger return. When I bought ERN their market cap was practically nothing...it still is practically nothing compared to other explorers..I have ranted on about their market cap time and time again.


----------



## mmmmining (31 January 2007)

chris1983 said:
			
		

> With no risk at all come no huge gains.  Dont be too careful.  You are underestimating the potential of ACB imo.  I dont hold them but I have always liked them.  It was either ACB or ERN for me..I picked ERN because I believed they were in an earlier phase and could give me a larger return. When I bought ERN their market cap was practically nothing...it still is practically nothing compared to other explorers..I have ranted on about their market cap time and time again.




I like ACB just before today. After I spoke with MD, I fell not comfortable  with the management team. Anyway, the cool fact for ACB is the historic 75Mt minerals within 1.2x1km area is impossible to achieve because they need 30m width. But currently the average is only about 4m. Surely they can throw in a few other anomalies to justify the lofty share price. Even they get the Serule's assayed data wrong. But it is another story.

My point is very simple, keep speculating before and during drilling. And be vigilant when the results are published. 

The story for ERN may be different. I guess you can share with us about how competent the management team is from your experience.


----------



## Sanhedrin (1 February 2007)

Just pierced through the 60 cent level buyers have dried up
looks ominous chris???


----------



## chris1983 (1 February 2007)

Sanhedrin said:
			
		

> Just pierced through the 60 cent level buyers have dried up
> looks ominous chris???




I think everyone worries too much with price fluctuations.  Maybe some large holder wanted to get out..pushes it down..starts some momentum.  Just look at their ground etc.  They wont stay at a 35 million fully diluted market cap.  Thats all I got to say..when they hit 40 cents previously It didnt worry me..so falling under 60 still doesnt bother me.


----------



## thefisherman (1 February 2007)

bought at 60c, watched them go to 40c, sold at 67c, watch out fells this one is going DOWN, price manipulation for the share issue............stockbrokers win-punters lose


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## chris1983 (1 February 2007)

thefisherman said:
			
		

> bought at 60c, watched them go to 40c, sold at 67c, watch out fells this one is going DOWN, price manipulation for the share issue............stockbrokers win-punters lose




okay.  we will see who has the profit in 6 months time.

Ohh wait im allready in profit..i topped up big time under 50. Like I say..fortune favors the brave. This is still an easy decision for me. Its easily made by looking at other namibian uranium explorers..it actually makes the decision a simple one.

One more comment.. "stockbrokers win"? what the..they only issued an extra 3.6 million shares at 60 cents..I have edited the post.  I wont comment on this anymore


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## mmmmining (1 February 2007)

chris1983 said:
			
		

> okay.  we will see who has the profit in 6 months time.
> 
> fortune favors the brave. This is still an easy decision for me.




Chris, Good luck. As a holder of ERN, I would not bet my house on this one. Too risky. I guess you understand it if you like gamble. You know if you gamble there are two possibility, win or loss. 

I fell more confident with BMN, or PDN, or others with at least some resources. But I agree that ERN is a wild horse (not WHE) , and very likely. 

The price will be weakening in short time because of no news. But if you believe it, it could reward you handsomely eventually.


----------



## chris1983 (2 February 2007)

mmmmining said:
			
		

> Chris, Good luck. As a holder of ERN, I would not bet my house on this one. Too risky. I guess you understand it if you like gamble. You know if you gamble there are two possibility, win or loss.
> 
> I fell more confident with BMN, or PDN, or others with at least some resources. But I agree that ERN is a wild horse (not WHE) , and very likely.
> 
> The price will be weakening in short time because of no news. But if you believe it, it could reward you handsomely eventually.




Its not a gamble for me mmmmmining.  Its an investment...which I have researched on.  When did you get into BMN to feel more confident on them?  I have held them since 48 cents pre share split..when they were granted their licenses..people would of considered that gambling too I'm guessing.  I still currently hold BMN.  Anyway I topped up on ERN when they went under 50 so I wont be increasing my holding anymore.  Its purely a waiting game now.

Explain to me what the huge difference is between BMN 1 year ago and ERN now..both very low share holdings...ERN have 4 EPLS..Bannerman have 2.  Erongo have 21 uranium anomolies on their most prospective license being the erongo granites licenses..Bannerman have 18 uranium anomolies on their licenses..Bannerman currently have historic drilling results and values..Erongo currently have proof uranium is existant on their license EPL 3453. Actual uranium values for the historic drills are still not available though as stated from their latest quarterly activities report.  So hopefully they will be able to get those out to us soon.

Uranium spot price hitting $75 per lb and will continue upwards as demand will continue to outstrip supply.

In the mining friendly country of Namibia..where no Australian government restrictions will be placed on the company.

This is a good investment for me.  Maybe a gamble for others.


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## Reefer (2 February 2007)

I was surprised the shares did not fall back further when the announcement of the placement was made. By the time the free options are factored in the placement has taken place at 53c and I thought the shares would retreat back to that level, albeit temporarily.  Someone in an earlier post alluded to the news that the 5th licence may have been granted elsewhere and if that is fact I guess many traders may have punted on that tenement rather than the prizes Erongo have already cemented in.  Thanks for all the research Chris1983 - I downloaded the Geological Survey and matched it up with the Erongo ground and I reckon you are on a winner - bound to be a few hiccups on the trip though.  I was already in BMN but after following your threads have bought ERN and will buy more on SP weakness.  Great work mate!!!


----------



## chris1983 (2 February 2007)

Hey Reefer,

Thanks for the pat on the back..I find I have to keep reading and reading to keep me interested.  Lets wait untill they hit 3 bucks and then you can tell me it was great research   In regards to BMN I dont think it was a bad move selling out of them to buy ERN to get a larger parcel but I do think BMN will keep going and could continue past $5 easily this year.

There is one thing to be noted..ERN didnt really follow on the Berlin stock exchange..they are still trading at 36 EURO which is around 60.5-61 cents Australian.  Good support over there for this stock.


----------



## mmmmining (2 February 2007)

chris1983 said:
			
		

> Explain to me what the huge difference is between BMN 1 year ago and ERN now..



The difference is BMN has a lot of historic drilling results, you can feel it. Nothing against ERN, does ERN have enough historic drilling results yet? This is why ERN might reward you significantly if the odds is on your side.


----------



## chris1983 (2 February 2007)

mmmmining said:
			
		

> The difference is BMN has a lot of historic drilling results, you can feel it. Nothing against ERN, does ERN have enough historic drilling results yet? This is why ERN might reward you significantly if the odds is on your side.




Ok comparisons below.

_Historic work on EPL 3453:
- 63 percussion holes drilled in Area 1 identified a flat undulating zone of mineralization 25- 35m thick over an area of 1,000 x 800m. Actual uranium values are not yet available.

- The first of two diamond holes in Area 1 identified yellow-green secondary uranium mineralisation from near surface in the weathered zone which ranged in value from 134 to 982g/t U3O8.

- Two additional drilled areas reported flat lying uranium mineralization roughly 6m thick. Actual uranium values are not yet available.

- A mineralogical investigation positively identified uraninite as the major primary uranium mineral and a metallurgical study concluded that no metallurgical problems existed.

- Identification of a previously untested 3,000m by 1,000m uranium anomaly.
At EPL 3523 historic mapping confirmed the area is underlain by valley-fill calcrete. A total of 30 percussion holes were drilled on a 1km x 1km grid. Three holes reportedly intersected anomalous uranium. Actual uranium values are not yet available._

Bannerman's historics were as follows 

_"Database of >230 drillholes for Goanikontes Anomoly A."_


So in conclusion Erongo has stated there is 63 percussion drill holes in area 1.  An additional 2 diamond drill cores also drilled in area 1.  They state there was two additional areas drilled but dont reveal how many holes were drilled.

In my opinion there is not a huge difference.  Maybe to you there is.  Bannerman did have the grades of their historic drills but erongo dont so its still guesswork on the grades they may have.. I base my investments off comparisons and trying to work out what they may have and everything is looking pretty good to me so far..that may change and I'll drop this stock in the blink of an eye but atm what they have reported looks good.


----------



## chris1983 (2 February 2007)

Im not saying Erongo will be the next Bannerman.  Thats a pretty bold statement.  Im saying this is a educated investment based off what we have been told.  I dont think its a gamble.  All you need is stupid uranium samples nowadays and the stock will run.  Erongo definately will have more than that.

They have proof uranium exists on the tenements.  They have huge anomolies on two of their licenses.  They have historic drilling(currently no grades) just as Bannerman had to prove uranium does exist historically within the EPL.  They have a sound management team.


----------



## mmmmining (2 February 2007)

Alright, you win. To appreciate your hard work, I am increasing my holding in ERN.


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## Reefer (2 February 2007)

I agree mmmmining, I think we should all support Chris1983 and all the research he has done by sending this stock thru the ozone layer on Monday. Think I'll buy some more as well.


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## chris1983 (2 February 2007)

Hey guys research means nothing without results so hopefully the results come.  It did look like there were some very large buyers waiting in the midst for that recent retrace though.  A 300k buyer appeared this morning and I thought it was going to be a dummy bid but it wasnt.  There are also quite a lot of buyers stacked at 63.

_"The Company has acquired a scintolometer and will commence with ground surveys in February 2007 to better define high priority areas for follow up with regional sampling programmes. A hand auger will be used to collect samples in areas covered by excessive overburden which could mask potential
uranium anomalies.

The Company intends to fast track trenching and drilling programmes to test areas with known uranium occurrences."_

So they would have commenced ground surveys etc..things will be getting underway.  Will have to hold for a good 6 months I would think.  Hopefully an announcement on the grades from the historics is released in the next month or so.  Share price appreciation in my mind has to occur just with how the uranium sector is firing.  Lets wait for some of those samples


----------



## chris1983 (2 February 2007)

I have read over the quarterly report again and I havn't mentioned they do have results in there from one of the diamond drill holes which is from EPL 3453... one of the erongo granites licenses.  They have actually hit uranium to 170 meters depth.  It probably extends below that.  There is an image on the 6th page showing the drill core.  I dont know why I didnt mention it earlier.  How many explorers hitting uranium at those depths guys?  Bannerman have got some excellent depth on their results and look where the SP has gone.

I think Erongo just had too much info within their report..its very easily missed and forgotten when your trying to read fast to see if you should sell out.

_"Two diamond holes in Area 1 were also drilled to evaluate the granite-uranium association. Yellowgreen secondary uranium mineralisation was observed from near surface in the weathered zone in the first hole. The near surface mineralisation ranged in value from 134 to 982g/t U3O8. Several zones of increased foliation at depth were also logged (refer drill log at Figure 2; hole was reportedly drilled to 170 metres). The second drill hole was drilled into a zone of intense vertical jointing 150m wide and returned a best result of 0.35m @ 252g/t U3O8. No other information in respect of these two holes is currently available."_


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## sydneysider (3 February 2007)

chris1983 said:
			
		

> I have read over the quarterly report again and I havn't mentioned they do have results in there from one of the diamond drill holes which is from EPL 3453... one of the erongo granites licenses.  They have actually hit uranium to 170 meters depth.  It probably extends below that.  There is an image on the 6th page showing the drill core.  I dont know why I didnt mention it earlier.  How many explorers hitting uranium at those depths guys?  Bannerman have got some excellent depth on their results and look where the SP has gone.
> 
> I think Erongo just had too much info within their report..its very easily missed and forgotten when your trying to read fast to see if you should sell out.
> 
> _"Two diamond holes in Area 1 were also drilled to evaluate the granite-uranium association. Yellowgreen secondary uranium mineralisation was observed from near surface in the weathered zone in the first hole. The near surface mineralisation ranged in value from 134 to 982g/t U3O8. Several zones of increased foliation at depth were also logged (refer drill log at Figure 2; hole was reportedly drilled to 170 metres). The second drill hole was drilled into a zone of intense vertical jointing 150m wide and returned a best result of 0.35m @ 252g/t U3O8. No other information in respect of these two holes is currently available."_




IMHO Erongo's quarterly was probably the most impressive of all the U explorers who are still in the very early stages of a project. Speculative upside here is enormous ans it is reasonable to compare with BMN at 50 cents. I think u are wrong when u say that one of the historic holes hit u at 170 m depth but they seem to have u absolutely everywhere based on the historic drilling and new radiometrics and they certainly do have targets at depth being the granitic source rocks for U. ERN will IMHO now become a spec "darling" and amaze us all.


----------



## chris1983 (3 February 2007)

sydneysider said:
			
		

> IMHO Erongo's quarterly was probably the most impressive of all the U explorers who are still in the very early stages of a project. Speculative upside here is enormous ans it is reasonable to compare with BMN at 50 cents. I think u are wrong when u say that one of the historic holes hit u at 170 m depth but they seem to have u absolutely everywhere based on the historic drilling and new radiometrics and they certainly do have targets at depth being the granitic source rocks for U. ERN will IMHO now become a spec "darling" and amaze us all.




Everyone is saying they think I am wrong.  Go to page 6 of the quarterly report where they have the image of the drillcore.  It seems to be pretty black and white to me??  Or am I just reading the image incorrectly?

Actually maybe I can even attach it.  See quote..they state several zones of increased foliation at depth were also logged...and you can see the grades at depth which has one value at 460 ppm

"Two diamond holes in Area 1 were also drilled to evaluate the granite-uranium association. Yellowgreen secondary uranium mineralisation was observed from near surface in the weathered zone in the first hole. The near surface mineralisation ranged in value from 134 to 982g/t U3O8. Several zones of increased foliation at depth were also logged (refer drill log at Figure 2; hole was reportedly drilled to 170 metres)."


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## sydneysider (3 February 2007)

chris1983 said:
			
		

> Everyone is saying they think I am wrong.  Go to page 6 of the quarterly report where they have the image of the drillcore.  It seems to be pretty black and white to me??  Or am I just reading the image incorrectly?
> 
> Actually maybe I can even attach it.  See quote..they state several zones of increased foliation at depth were also logged...and you can see the grades at depth which has one value at 460 ppm
> 
> "Two diamond holes in Area 1 were also drilled to evaluate the granite-uranium association. Yellowgreen secondary uranium mineralisation was observed from near surface in the weathered zone in the first hole. The near surface mineralisation ranged in value from 134 to 982g/t U3O8. Several zones of increased foliation at depth were also logged (refer drill log at Figure 2; hole was reportedly drilled to 170 metres)."




Well done, I missed that one. Congrats on your interpretation and observation. U are right, there are u values at depth but not in the basement granite. This means that there are mutiple high grade u zones down to 145 meters. I suspect that ERN might really take off in the next few trading days. This is very bullish news.


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## sydneysider (3 February 2007)

chris1983 said:
			
		

> I have read over the quarterly report again and I havn't mentioned they do have results in there from one of the diamond drill holes which is from EPL 3453... one of the erongo granites licenses.  They have actually hit uranium to 170 meters depth.  It probably extends below that.  There is an image on the 6th page showing the drill core.  I dont know why I didnt mention it earlier.  How many explorers hitting uranium at those depths guys?  Bannerman have got some excellent depth on their results and look where the SP has gone.
> 
> I think Erongo just had too much info within their report..its very easily missed and forgotten when your trying to read fast to see if you should sell out.
> 
> _"Two diamond holes in Area 1 were also drilled to evaluate the granite-uranium association. Yellowgreen secondary uranium mineralisation was observed from near surface in the weathered zone in the first hole. The near surface mineralisation ranged in value from 134 to 982g/t U3O8. Several zones of increased foliation at depth were also logged (refer drill log at Figure 2; hole was reportedly drilled to 170 metres). The second drill hole was drilled into a zone of intense vertical jointing 150m wide and returned a best result of 0.35m @ 252g/t U3O8. No other information in respect of these two holes is currently available."_




A quick calculation of "target tonnage" on ERN's area1 is 1000 x 800 m by 25 meters thickness = 40-60,000,000 tonnes (based on 63 RC drill holes). The Diamond Drill hole reported in this same area shows multiple u grades but has a thick zone near the base of the hole that is about the same thickness as the surface zone so the "target tonnage" doubles to 80-120,000,000 tonnes and increases the prospectivity of the "in between zones". IF my interpretation is correct the ERN shareprice should explode as this type of interpretation puts a price move into multiples of the current share price.


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## Thadius (3 February 2007)

sydneysider said:
			
		

> Well done, I missed that one. Congrats on your interpretation and observation. U are right, there are u values at depth but not in the basement granite. This means that there are mutiple high grade u zones down to 145 meters. I suspect that ERN might really take off in the next few trading days. This is very bullish news.




Congratulations and well done Chris1983 for your attention to detail and Sydneysider for your sentiments.

I have been on Erongo since Louisiana days and from the story unfolding I have to agree with you Chris that the comparison to Bannerman is not at all far fetched at this early stage. 

It seems nearly every U stock seems to have posters claiming their company is going to be next Bannerman. However the anomalies at Erongo and the team they have, give me great confidence that we are on a winner with or without the 5th tenement being granted.

I also have made a tidy sum on UNX but have being waiting for the signals on ERN to drop UNX and put even more into ERN. 

I think the time is right now, although I still see UNX doubling this year, I see ERN as a real multi bagger.

Good luck to both of you and I really appreciate your intelligent posts.


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## Halba (4 February 2007)

my estimate is personally about 75mT+ in 1 area @ an average grade of 120ppm

This gives extractable u308 content 8400t or 18mil pounds in 1 anomaly

the company has stated there are 21 anomalies. The one i am most interested in is the anomaly where the historical drill bits broke, which was @ the centre of the anomaly. 

Still early days but this is a likely 'producer' due to its location.

I don't see UNX as impressive. intersections were low meterage. ERN has 25-35m thick intersections at low grades.

Reference: Uramin. Their mkt cap is nearly 820million AUD dollars equivalent and they have about 500mT @ 120ppm inferred, but only 61mT measured and indicated(mineable). Of course other smaller projects in africa so they are diversified). See UMN they are listed in london and TSX. Total inventory is 139mil pounds.  They aim to produce 1500t by end of 2008 and are the next U producer after paladin in the country. 

If ERN gets up to Uramin standards in 12 months, thats about $15 a share in 12 months. 

See Uramin:

http://ww7.investorrelations.co.uk/uramin/uploads/press/TrekkopjeFeasibilityStudyUpdate20Nov.pdf

 Trekkopje uranium project


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## LifeisShort (4 February 2007)

Halba said:
			
		

> my estimate is personally about 70mT+ in 1 area @ an average grade of 120ppm
> 
> This gives extractable u308 content 8400t or 18mil pounds in 1 anomaly
> 
> ...




Then on those figures BMN should be $50


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## Halba (4 February 2007)

yup bmn will go to $50 i hold as well

Also look at forsys metals on CAD. thats another producer in namibia. Code is FSY. Mkt cap $400m AUD, has about 20,000t u but at 200ppm.


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## chris1983 (4 February 2007)

Halba said:
			
		

> my estimate is personally about 75mT+ in 1 area @ an average grade of 120ppm
> 
> This gives extractable u308 content 8400t or 18mil pounds in 1 anomaly
> 
> ...




Hi Halba..Just wondering..how did you come up with the 120ppm avg grade with really no results to go by?  Just a guess?


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## Halba (4 February 2007)

I looked at that drill core they provided and extrapolated it for about 25-35m of the core.

A lot of the numbers are around the 150ppm level, where there is mineral. Some are 300, 200 and some higher, but average looks 120 or so. I then extrapolate this over the entire deposit(strike length). Of course lots of assumptions but what else do we have?


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## chris1983 (5 February 2007)

Halba said:
			
		

> I looked at that drill core they provided and extrapolated it for about 25-35m of the core.
> 
> A lot of the numbers are around the 150ppm level, where there is mineral. Some are 300, 200 and some higher, but average looks 120 or so. I then extrapolate this over the entire deposit(strike length). Of course lots of assumptions but what else do we have?




Thats sounds about right after I looked into it.  I hope the other historic drillholes bring some slightly better grades.  Based off what we have which isn't much to work with (1 drillcore with results) I think some reasonable and hopeful assumptions have been made.  We'll be able to work it out a lot better once these other historic drill results come out..if they ever do.


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## Halba (5 February 2007)

boy look at the support on the share price

and No i don't expect to find the results from drill holes. Africa 3rd world won't keep those results. However atleast we know where it is ,so that would be a logical 1st drilling program. the 2nd drill program i would do at the 3000m x 1000m anomaly where the drill bits broke.


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## towie (5 February 2007)

Thanks for the posts over the weekend folks, we dont have much to go on as far as drilling results go for this one but your posts have helped my research and though ive been holding and buying for a few weeks, Im more confident we have a chance of being in on a great story here.
Look out for some news from the company in the last week or so of this month.


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## chris1983 (5 February 2007)

Guys what is a ERL license.

I found out that "corporate resource consultants" have a pending ERL license..what is the difference between ERL and EPL?

I posted this on hotcopper and others believe its for their mineral sands project.

"Mineral Sands Project
The Company also acquired an interest in tenement applications in respect of a potential heavy mineral sands project south western Namibia. The Company will assess the prospectivity of this project upon the granting of these licences."


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## chris1983 (6 February 2007)

"An ERL entitles the holder to an exclusive right and a preferential right over the area held."


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## Sanhedrin (6 February 2007)

Chris I would of expected fairly firm resistance at 60 cents
whats your view of the short term price action say 2 weeks or so??


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## chris1983 (6 February 2007)

Sanhedrin said:
			
		

> Chris I would of expected fairly firm resistance at 60 cents
> whats your view of the short term price action say 2 weeks or so??




It looks to me that buyers are coming in when ever they do go below 60.  Current bid atm is 60 and the ask is 61.5 so it does seem to be holding.  I dont know how big that bid is though because I dont have market depth..but buyers seem to jump in at around the 60 level.

It is also 36 EURO on the berlin exchange but only 70,800 shares traded hands.  The ask is 40 euro over there which is 66.5 cents australian..I dont think it will fall down too far..but hey..anything could happen.  In the overall trend I believe it will be up though..the short term fluctuations dont bother me.  All I'm hanging out for is news on the fifth tenement because it is still pending.  I hope they get it because IMO thats the one to make the sp fire in the short term unless they get some of the historical data and it looks quite good.


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## mmmmining (8 February 2007)

Chris, 

What is your comments on the weakness of the ERN? The new placement is nearly out of money. Very interesting.


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## chris1983 (8 February 2007)

they are out of money now arent they?

I cant say much about the weakness since there hasnt been any new news released.  With spec plays come downturns.

Ive got my holding and I'm just waiting.  I would definately rather see them at 80 cents though


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## bigt (8 February 2007)

Looking very weak at the moment, those buyers are looking for some real bargains. I sold out at 69c a week or so ago, wasnt comfortable that there was anything firm on the near term horizon. I am hoping to buy back in if it drops to the late 40s, though that would be suprising with the recent placement at 60c, albeit a small number of shares. Good luck to all holders.


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## chris1983 (8 February 2007)

Anything can happen with this one and it could happen fast.  What would happen to the SP if they got granted the fifth license tomorrow which allready has a historic resource onboard..the "what if" question.  If they dont get it granted they still have 4 highly prospective tenements..and the SP should climb the further they advance their exploration program on these licenses..but what if they did get that fifth tenemant.

*"Klein Spitzkoppe uranium (5 Mt ore grading 287 ppm U3O8)"*

Its been pending for quite some time now.  I wonder what it would do to the SP because it is only a small resource.  It could very well be expanded though because drilling was stopped in the 80's due to falling Uranium prices..just like all other historical areas that were previously drilled in Namibia.

Below is the document stating the license is still pending.

http://www.mme.gov.na/pdf/pndg-grtd-lcns-200207.pdf

page 43.

Anyway I hope they get it.  If not I'll just wait.


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## Halba (8 February 2007)

lol ern has practically 1/4 of namibia under tenement

as if there is no u there!!

take a punt, if not u might be left hanging


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## chris1983 (9 February 2007)

Sell bids are being pulled?


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## emily (9 February 2007)

up 5 cents !!


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## bigt (9 February 2007)

dont you mean DOWN 5 cents?


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## chris1983 (9 February 2007)

It finished up.  Only on low volume but the interesting thing is that sell orders were pulled.  Not much up for grabs under 60c anymore.


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## bigt (9 February 2007)

Apologies, jumped the gun there...delayed prices   Interesting play ERN...so much potential there, the impatience factor comes into play. We want another BMN now!


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## chris1983 (9 February 2007)

bigt said:
			
		

> Apologies, jumped the gun there...delayed prices   Interesting play ERN...so much potential there, the impatience factor comes into play. We want another BMN now!




Sure do.  I wish it could do half of what BMN has done.  I think we will eventually have something to smile about.


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## Darryn (14 February 2007)

Up today, lets hope this continues!


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## chris1983 (14 February 2007)

Darryn said:
			
		

> Up today, lets hope this continues!





Im going to show confidence.  Of course it will continue up.  

Its only gone up on low volume but its good to see it back above 60.  Any activity showing larger volume would push this one up very hard and fast.

Keep an eye out on that fifth license.  Thats the key to the short term SP.  The pending licenses in Namibia are getting closer and closer to being granted every day.


----------



## bliimp (15 February 2007)

Interesting article coming out of Namibia regarding the issuing of licenses.

Refer to http://allafrica.com/stories/200702140503.html

The essence of the article is as follows :-

"AS applications pour into Namibia from companies intending to prospect for uranium, the Ministry of Mines and Energy has stopped accepting such requests.

It will soon announce a moratorium in the Government Gazette.
The Namibian has it on good authority that the Ministry stopped accepting applications for uranium prospecting and exploration two months ago.

This comes hot on the heels of a similar moratorium slapped on the granting of diamond cutting and polishing licences by the same Ministry early this month ...

In the last two years, Namibia has become a global attraction because of its mineral deposits hugely in demand on international markets, like uranium and diamonds.

In an interview with The Namibian yesterday, the Permanent Secretary of Mines and Energy, Joseph Iita, confirmed that no applications were currently being accepted, adding that more would soon be revealed in the Government Gazette.

"It's a matter of regulating the issue of licences.
Everyone is running to Namibia for uranium and we don't want every Jack and Jill mining uranium ...," he said."


Q1? ... Where does that leave ERN with respect to its "5th license"? ... has it just missed out? 

Q2? ... Are all existing Namibian miners (PDN etc) and explorers (BMN , even ERN etc) now part of an "exclusive club" ....


----------



## chris1983 (15 February 2007)

bliimp said:
			
		

> Q1? ... Where does that leave ERN with respect to its "5th license"? ... has it just missed out?
> 
> Q2? ... Are all existing Namibian miners (PDN etc) and explorers (BMN , even ERN etc) now part of an "exclusive club" ....




hmm..just got up and was having a quick check of the US market..thanks for that article.  That would explain any delays we have had.  The 5th license is still pending in their recent document on the website posted on the 2nd of February along with the additional ERL mineral sands license which is also pending.  It sounds to me they aren't accepting any new applications atm untill they do a review of their process which of course means they won't be granting any additional license's just yet.

I think the fifth license would have a huge impact on the SP in the short term but overall I believe the value is in the 2 erongo licenses.  They have 4 overall and the fifth is the bonus.  All applications have been stopped atm but they just wont stop granting them..it's just going to take longer it would seem.  Shows some good value on the tenemants allready locked in by the explorers currently in Namibia as it looks like they might make the process for applying a harder one.


----------



## JWBH01 (15 February 2007)

I hope the SP starts moving, getting itchy feet.  Could have got in and out 4 times already at tidy profits if I had the guts to do so but I keep holding on waiting for bigger and better things.


----------



## chris1983 (15 February 2007)

JWBH01 said:
			
		

> I hope the SP starts moving, getting itchy feet.  Could have got in and out 4 times already at tidy profits if I had the guts to do so but I keep holding on waiting for bigger and better things.




I could of taken an extremely good profit at 70 cents.  I'm holding.  If you look at the chart they are looking good.  Had a bounce off the downtrend and has now moved into an uptrend.  Also in light of the latest release in regards to licenses in Namibia it seems to me that they are going to be harder to get granted so the licenses erongo allready have are quite valuable.  Dont forget the fact that they are in early stages.  A large jump may be 3-4 months away still.  I can see them rising steadily above 70 though.  Hopefully they obtain those historic drilling results.


----------



## LifeisShort (16 February 2007)

chris1983 said:
			
		

> I could of taken an extremely good profit at 70 cents.  I'm holding.  If you look at the chart they are looking good.  Had a bounce off the downtrend and has now moved into an uptrend.  Also in light of the latest release in regards to licenses in Namibia it seems to me that they are going to be harder to get granted so the licenses erongo allready have are quite valuable.  Dont forget the fact that they are in early stages.  A large jump may be 3-4 months away still.  I can see them rising steadily above 70 though.  Hopefully they obtain those historic drilling results.




Chris,

I'm not sure if this will affect ERN but you should check this out with the company

Namibia halts uranium applications
--------------------------------------------------------------------------------
Friday, 16 February 2007

CONCERNS over the end use of uranium mined from its backyard has prompted the Namibian Government to stop accepting prospecting uranium applications from companies as the Government brings order to the rush for the country's uranium. Report by Rebecca Lawson.

According to media reports out of the country on Wednesday, the Government has announced it had stopped accepting applications for exploration and prospecting licences (EPL) for uranium, and had done so for the past two months. 

In an article published in the Namibian newspaper, Ministry of Mines and Energy Permanent Secretary Joseph Iita is reported to have said the Government would call for a moratorium on applications as it reconsidered its policies into the resource.

Of particular concern to the Government was the end use of the controversial commodity, which prompted Iita to comment that the Government did not want to give "every Jack and Jill" a licence and possibly putting it into the hands of the wrong person or company. 

"Everyone is running to Namibia for uranium and we don't want every Jack and Jill mining uranium," Iita told the newspaper. 

"The world is now highly advanced and has come up with all sorts of uses for uranium.

"In the end uranium is not only used for the generation of electricity, but can be used for destructive purposes as well." 

Namibia is already home to two producing mines, Rio Tinto's Rossing and Paladin Resources' Langer Heinrich, and Export Finance and Insurance chief economist Roger Donnelly said with the African nation's stance as a safe country in the emerging markets category, there was no need for panic at the moment. 

Based on knowledge garnered from media reports out of the country's press, Donnelly commented that the move would not damage Namibia's standing as a fine destination for foreign investment, instead it would only increase its reputation in that field. 

"I don't think this will be a terrible block on the investment climate at all," he said.

"It is partly out of concern about nuclear proliferation that they have taken this action, it could be this measure is more carefully interpreted that it actually, far from tarnishing their investment reputation, actually burnishes it a bit.

"You have to draw a distinction between revoking the concessions of people who have already sunk a lot of capital into a project, by way of exploration and development dollars, which is pretty unconscionable conduct and will badly tarnish your reputation as an investment destination.

"That's in contrast to putting a bit of a temporary standstill, or a moratorium, on the granting of new licences with a view to rationalising the process and perhaps weeding out 'Jacks and Jills'." 

The halt in uranium applications comes in the wake of a moratorium earlier this month on the granting of diamond cutting and polishing licences, which followed the renewal of a five-year sales agreement between the Government and De Beers. 

However, Namibia-focused uranium explorers Bannerman Resources, Deep Yellow and Extract Resources all told MiningNewsPremium.net they agreed with the Government's action.

"We've had no notification of anything different to normal, it's business as usual, in fact our dealings with all government departments have been very good and we're quite happy with the way things are going," Bannerman director Clive Jones said. 

Martin Kavanagh, a director of Deep Yellow, said having seen the rush to grab exploration ground in the country, he understood the Government's move to tighten up policies regarding uranium exploration.

"The area where we're working in, there's no ground available. It's all under applications," Kavanagh said. 

Meanwhile, a recent change in the length of holding and reporting on an EPL has Extract company secretary Rance Dorrington commenting on the responsibility and fairness of the Government, which has remained open and willing to communicate to its foreign investors. 

"We've had licences issued recently to us, and they've changed the conditions in which they're issued. They're issued now for requiring you to report on an annual basis and they give you a period of 12 months to hold the licence, instead of three years which they used to issue them," Dorrington said.

"It doesn't surprise me, there has been so much interest over there and they've been fairly good with us in granting us our four licences over the last couple of years."

However, reasons for issuing a moratorium on uranium EPLs could be closer to home, especially in the political arena with a looming power issue with its neighbour South Africa, which supplies some 50% of Namibia's electricity needs. With South Africa itself experiencing regular power shortages, Namibia has begun looking into ways to become more self-sufficient for its energy needs.

It was reported that just last month, the Namibian Government was considering a nuclear power plant to escape the forthcoming energy crisis and was looking for international partners to build the plant. 

According to Donnelly, with Namibia's standing as a stable country in sub-Saharan Africa, nuclear power could be the way to go. 

"I think that really is dependent upon whether they decide to proceed within the international framework of the IAEA [International Atomic Energy Agency] safeguards and non-proliferation safeguards if they were to do [nuclear power] in an open and transparent way, I think it isn't necessarily a bad thing for the country," Donnelly said.


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## chris1983 (16 February 2007)

Hey LIS.

Yeah that is posted above.  Makes companies that allready have EPL's quite valuable.  The most prospective EPL's in my mind was the erongo mountains epl's  There has been historic drilling in the area previously and the radiometrics for the two licenses looks extremely positive.  That fifth license would of been great though.  Could easily have pushed the short term SP through the roof.

They aren't accepting any new license applications but the applications allready pushed through are still pending so atleast thats still on record.

Klaus Eckhoff is very well known though especially over there in Namibia and anywhere for that fact and hes the one running everything on the ground.  Definately more of a spec play than Bannerman though.


----------



## sydney1963 (20 February 2007)

chris1983 said:
			
		

> Hey LIS.
> 
> Yeah that is posted above.  Makes companies that allready have EPL's quite valuable.  The most prospective EPL's in my mind was the erongo mountains epl's  There has been historic drilling in the area previously and the radiometrics for the two licenses looks extremely positive.  That fifth license would of been great though.  Could easily have pushed the short term SP through the roof.
> 
> ...



Can anyone find out how much the ib of U3O8 worth according of ERN reserve, for example MTN [au$3/IB].


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## Halba (20 February 2007)

thats coz ern doesn't have a reserve...


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## chris1983 (21 February 2007)

sydney1963 said:
			
		

> Can anyone find out how much the ib of U3O8 worth according of ERN reserve, for example MTN [au$3/IB].




There is just good potential for this one..but no resource as of yet.  They have proof that uranium exists on the tenements and this is also proven through historic drilling on one of the Erongo licenses.  They don't have the grades for this historic drilling as of yet.  There are two very high radiometric readings that have been supplied for the two erongo mountains epl's.  They have made comparisons from the radiometrics with the Rossing and Langer Heinrich deposits.  Read through the thread.  Its holding well at 60.  Seems to be the new base level created since the placement was made to sophisticated investors at 60 cents.  Just have to wait for something to happen now.

Ive done my research on this one and hopefully things work out as I planned because I hold quite a few..mind you my avg is 48 so things are looking okay.  But I'm looking for another flyer like BMN


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## chris1983 (22 February 2007)

Anyone watching these?  Remember the last report.  See below.
_
*Future Work*

The Company intends to complete the desk top study during the current quarter, incorporate all data into the database, and plan for follow up field checks, trenching and drilling programmes. 

The Company has acquired a scintolometer and will commence with ground surveys in February 2007 to better define high priority areas for follow up with regional sampling programmes. A hand auger will be used to collect samples in areas covered by excessive overburden which could mask potential uranium anomalies. The Company intends to fast track trenching and drilling programmes to test areas with known uranium occurrences._

Work is being carried out as we speak.  Hopefully we will get an update some time in early March.


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## JWBH01 (22 February 2007)

Has there been any word on the 5th licence?


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## chris1983 (22 February 2007)

JWBH01 said:
			
		

> Has there been any word on the 5th licence?




Seriously..dont worry about the fifth license...they will progress the company with the 4 they allready have.  There has been no word as yet on the fifth license..its still pending..do note though..if they get that license..pump your fist in the air for me with joy because we should make some nice profits off the back of that message if it does come to fruition.


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## JWBH01 (22 February 2007)

Maybe I should buy a few more of these if the SP dips in the next few days before the fun starts.


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## chris1983 (22 February 2007)

JWBH01 said:
			
		

> Maybe I should buy a few more of these if the SP dips in the next few days before the fun starts.




Well I dont know when the fun will start.  But I think we will get a gradual increase in the SP as they move their projects forward.  I can't see how it will stay down.  Uranium spot price is up to $85 a pound and the future for a lot of the Namibian prospects continues to look brighter and brighter.  It doesnt matter if they end up having a low grade project because the uranium price doesnt look to be falling anytime soon.  The production costs over there are cheap too and it is a lot speadier to get projects off the ground.

One other good thing is the guys who are behind Erongo have brought a lot of companies from explorer to producer.  The next 3 months should be interesting.


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## JWBH01 (22 February 2007)

I read that Uranium supply will only catch up with demand in 2012 so as long we have shares in companies that are producing before then, hopefully well before then, we should be okay.

I guess this is why its better to hold shares in U companies overseas because they will be up and running sooner than companies in Australia.


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## chris1983 (22 February 2007)

JWBH01 said:
			
		

> I read that Uranium supply will only catch up with demand in 2012 so as long we have shares in companies that are producing before then, hopefully well before then, we should be okay.
> 
> I guess this is why its better to hold shares in U companies overseas because they will be up and running sooner than companies in Australia.




Who said to hold untill production   I mean yes..they might be a hold untill production..but even if they find something with the way the uranium sector is heading you will make good profits.


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## Halba (22 February 2007)

this could be a mega bagger if it gets production. but not quite as good as bmn!

I continue to watch with keen interest! Might add some more

Chris i dumped my AGM today to raise some cash!


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## chris1983 (22 February 2007)

Halba said:
			
		

> this could be a mega bagger if it gets production. but not quite as good as bmn!
> 
> I continue to watch with keen interest! Might add some more




I havnt got it on the same wave length as BMN.  Who knows their licenses are huge and could contain high grade uranium but BMN is my best uranium stock atm.  I still think this one will bring some large gains though.


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## Halba (22 February 2007)

If those 6m intersections of calcrete are high grade this will rocket

If any of the undrilled 21 anomalies have >250ppm this is absolutely rocket

Market probably needs >150ppm at this stage though


----------



## bigt (22 February 2007)

Disagree - I think the "market" is much more educated now in relation to U results..just by the sheer volume of one man and a spade releasing results..150ppm will get ERN nowhere...relatively (as the release of drilling results will increase SP just because they have..well.. drilled)..I think the market needs >300ppm to take a serious interest in a U stock now. 

I cant remember who as I write, but one company today released an ann stating historical results of 38ppm...you have seriously gotta be kidding me.


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## Halba (22 February 2007)

bigt. Uramin is 120ppm cut off 30,000t, but high tonnage(over 100mT of u mineral) in namibia

market cap is $1.5billion dollars. It has 10 bagged its stock price in 1 year. All it has done is drill out its resource called the Trekkopje  project. 

what u need to understand is that the average grade may be 150ppm, but its easily extractable u especially if its large tonnage, it will be a highly economic operation imho.

Read Uramin's bfs, have a look, its NPV is over 1billion USD


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## bigt (22 February 2007)

Totally agree with you Halba, they may have a huge tonnage at 150ppm...what 
I meant was public perception of these U results is now a little more refined..though still the majority of the population is..uneducated..as to the big picture..they like to see big numbers...the bigger the better. If you are aware of the variables that go into the viability of a potential mining operation then I agree, if it is 1m below the surface, 100ppm, and 2m from a railroad (etc, you know what I mean)...this is a potentially massively profitable scenario. Yet, we still like big numbers.


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## Halba (22 February 2007)

agreed. big is better. maybe if they have 6m @ 400-500ppm calcrete that is fine.

i notice MRU has been running on not a single drill result or assay. puzzling this mkt


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## chris1983 (23 February 2007)

Looking good....

Trending up since Feb 08.  I wonder if a message is on the horizon?  Volume is increasing.


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## Halba (23 February 2007)

i bet an ann soon

this is so cheap!!


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## chris1983 (23 February 2007)

Halba said:
			
		

> i bet an ann soon
> 
> this is so cheap!!




Hopefully they got hold of all the historical data and its some decent results.


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## JWBH01 (23 February 2007)

chris1983 said:
			
		

> Who said to hold untill production   I mean yes..they might be a hold untill production..but even if they find something with the way the uranium sector is heading you will make good profits.




I know you will make good profits if they find something but wouldn't you want to hold onto some until they are in production?


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## chris1983 (23 February 2007)

JWBH01 said:
			
		

> I know you will make good profits if they find something but wouldn't you want to hold onto some until they are in production?




I most likely will hold.  As long as everything looks good.  I'm not really fond of paying tax.  Anyway we have to see how they progress their operations.  I have faith behind the guys running the show so everythings looking good so far.  Lets hope they come through with some good news.


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## Halba (23 February 2007)

Well if you hold $50k and it goes into production by 2010, that $50k will turn into over $2million dollars(based on the valuations for a u producer now)


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## JWBH01 (23 February 2007)

I wish I had 50K worth to hold onto.  If all things go well by the end of this year I will sell enough to cover myself and hold onto the rest and see where it goes.  

In my opinion, I don't think traders have really caught onto this share yet.  I'd like to see what happens when analysts start recommending the share.


----------



## Halba (23 February 2007)

jwb, but if u take profits along the way u won't be able to turn the 20k or whatever into large amnt


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## JWBH01 (23 February 2007)

Halba said:
			
		

> Well if you hold $50k and it goes into production by 2010, that $50k will turn into over $2million dollars(based on the valuations for a u producer now)




Halba based on these assumptions/ valuations, if I was to hold some of what I have, say $10K by 2010 it would still be worth $400k.  

Obviously I am not that big a player but I would take that any day.  I can only hope this share plays out like this by 2010.  Plus I am still pretty new at this so I am still working out my strategies, but I am open to suggestions.


----------



## chris1983 (23 February 2007)

I would be very comfortable if these fired.  Might be able to get that first house I want.  Still early days right now.  Don't want to get over excited..a long way to go for this one.  Acquiring the 4 highly prospective licenses in Namibia was a good start.  Something definately changed today though.


----------



## Halba (23 February 2007)

what happens if u invested $10k in pdn @ 100c?

worth $110K!

and u shortage will remain the same as pdn's run from 2004-2007. So it would be possible to replicate this run provided they can find an economic deposit. LH is not that huuge a mine.


----------



## chris1983 (23 February 2007)

Halba said:
			
		

> what happens if u invested $10k in pdn @ 100c?
> 
> worth $110K!
> 
> and u shortage will remain the same as pdn's run from 2004-2007. So it would be possible to replicate this run provided they can find an economic deposit. LH is not that huuge a mine.





hmmm.  Ive got a lot in this one.  The accumulation over the past 3 months is paying off.  Hopefully they continue to move up though.  It only pays off when the profit is in your hands..but I'm going to hold to see how they progress.


----------



## Halba (23 February 2007)

how many shares do you hold chris?

I hold 12000 ERN, small amnt, but only want to top up on news (i am that type)


By the way all PDN @ $1 had a market capitalisation of $500m dollars

ERN has a market cap of 30mil. So its like buying PDN @ 6cents (assuming it gets into proddy at some point)


----------



## chris1983 (23 February 2007)

I hold 34000 at an avg of 47.  I dont usually say how many I got..but since you asked..theres nothing to hide.  I dont have that many..but I dont usually put that much into one stock..I will usually buy 5/6 k worth and try and build it up.  When I first got BMN i only got 5k worth..and when I first got AOE..another one of my large holdings..i put 12 k in..that was a lot for me.  I think since the fund is growing..I'm putting more into the stocks I think can perform.


----------



## JWBH01 (23 February 2007)

As I was saying yesterday Chris I wanted to buy more of these but it might be a little late.  I have also put a fair chunk into this, but I wanted to keep accumulating.  Let's hope the price drops in the next couple of weeks again so I can do this.

I like those figures you are quoting Halba. I hope Erongo can be a Paladin and from what I hear the licences they have are much more than LH.


----------



## Halba (23 February 2007)

hi chris that is a sound stake. no one needs to hide things its all good.

 good work.


----------



## sydney1963 (23 February 2007)

JWBH01 said:
			
		

> As I was saying yesterday Chris I wanted to buy more of these but it might be a little late.  I have also put a fair chunk into this, but I wanted to keep accumulating.  Let's hope the price drops in the next couple of weeks again so I can do this.
> 
> I like those figures you are quoting Halba. I hope Erongo can be a Paladin and from what I hear the licences they have are much more than LH.



May be it start to fire up,with no return back.


----------



## chris1983 (23 February 2007)

Halba said:
			
		

> hi chris that is a sound stake. no one needs to hide things its all good.
> 
> good work.




Thanks..it would be nice to know the reason behind the rise.  There are some pretty large bids sitting on 69.5 and 70.  They might have some news to release in regards to the ongoing fieldwork.


----------



## Halba (23 February 2007)

2 likely news

1. fieldwork update - scintilometer readings of uranium samples

2. Historical drills obtained

anything high grade this will double overnight. This is because it can be mined quickly.

i'm excited would love to hear what news they have so i can revist my holding

all i have now is radiometric anomalies the size of frikkin europe and 1 drill hole diagram


----------



## towie (23 February 2007)

As I said a while ago, I spoke to the company and they did say an announcement/update would be coming out around the last week in Feb or so, they have been over in Africa for a few weeks now and hopefully something has come of it, I wouldnt expect great news but anything fruitful would be nice, , Also don't underestimate mineral sands!
Problem with today is everything was up even mentioned Namibia in the Telegraph of all places (ABC)


----------



## towie (23 February 2007)

Chris I have been buying a few more this week and I still don't have as many as you, be proud!
 I think this one has potential


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## chris1983 (24 February 2007)

I'll be keeping an eye out for that announcement.  As long as its something positive..no matter how small it may be..I'll be happy.

Erongo are currently trading at 44 Euro on the Berlin Stock Exchange which is just over 73 cents Australian.  Only trading on low volume though.

The license list for Namibia has also been updated on the website but the additional ERL and EPL licenses are still pending..so its nothing to do with that I would think..most likely an update on the field work like Halba suggested.


----------



## JWBH01 (24 February 2007)

chris1983 said:
			
		

> I hold 34000 at an avg of 47.  I dont usually say how many I got..but since you asked..theres nothing to hide.  I dont have that many..but I dont usually put that much into one stock..I will usually buy 5/6 k worth and try and build it up.  When I first got BMN i only got 5k worth..and when I first got AOE..another one of my large holdings..i put 12 k in..that was a lot for me.  I think since the fund is growing..I'm putting more into the stocks I think can perform.




Chris, any reason why you didn't buy the options on this one?  You get better leverage don't you? You probably could have got about 50000 options at an ave 34c?


----------



## chris1983 (24 February 2007)

JWBH01 said:
			
		

> Chris, any reason why you didn't buy the options on this one?  You get better leverage don't you? You probably could have got about 50000 options at an ave 34c?




You noticed that..yeah I realized that also..but I only realized the better leverage after I had allready bought the main share.  It would of been better for me to have bought the options..but I'm happy with what I'm holding atm.  It would of been at around and avg of 30 cents I could of got the oppies at.  

Do you hold the oppies?


----------



## JWBH01 (24 February 2007)

chris1983 said:
			
		

> You noticed that..yeah I realized that also..but I only realized the better leverage after I had allready bought the main share.  It would of been better for me to have bought the options..but I'm happy with what I'm holding atm.  It would of been at around and avg of 30 cents I could of got the oppies at.
> 
> Do you hold the oppies?




Yes, I only hold the options, it allowed me to have a larger holding.  I mean in the end if I am still holding these in 2009, when they expire I will need to pay the difference but by then I hope I would have sold the majority of my holdings.

Either way we are both hopefully going to be in a better position soon.


----------



## Halba (24 February 2007)

never go options fellas nothing beats the real thing!!

and thats FPOs

Reasons:

entitlement to Share purchase plan

entitlements to rights issues/voting

Options illiquid at times

Options have premium/spread


----------



## Halba (26 February 2007)

what up with the bids?


----------



## chris1983 (26 February 2007)

Below is a post from Lenni off hotcopper.  I think this is a valuable piece of information because Namibia aren't granting tenements atm and Erongo would have to be one of the attractive companies to look at with the very small market cap.  Could be the reason for the rise.

"Russia and China are after Namibian uranium and a moratorium on uranium licenses...keep in mind that the Balcatta boys have tight relations to Russian investors... 

Lenni 

......................................................................... International Herald Tribune Russian companies plan uranium extraction in Namibia The Associated PressPublished: February 23, 2007 MOSCOW: Three Russian companies plan to create a joint venture to extract uranium in Namibia, Russian news agencies reported Friday. Renova, state-owned Veneshtorgbank or VTB, and state-owned nuclear materials and services exporter OAO Tekhsnabexport, or Tenex, plan to join forces to prospect for and mine uranium in the southern African nation, ITAR-Tass and Interfax quoted Russian nuclear energy agency chief Sergei Kiriyenko as saying in the Namibian capital, Windhoek. Namibia is the world's fifth-largest uranium exporter and "is very interesting in terms of uranium extraction," ITAR-Tass quoted Kiriyenko as saying. Amid ambitious plans to expand nuclear power production, Kiriyenko said last year that Russia would increase spending on uranium extraction tenfold over the next two years and is interested in mining uranium abroad in countries where it is profitable. 

....................................................................... Namibia, Russia discuss nuclear cooperation - PM - 1 23/02/2007 13:14 (adds details after paragraph 1) WINDHOEK, February 23 (RIA Novosti) - Namibia and Russia are discussing the possible use of Russian nuclear technology to make up for Namibia's energy deficit, Namibia's prime minister said Friday. Namibia expects a reduction in energy supplies from South Africa in the next three years and forecasts an energy deficit of 300 megawatts. "The Russian side said there are a number of available technologies, one of them being nuclear," Nahas Angula told journalists after a meeting with the Russian delegation. Angula said the environmental and economic expediency of using nuclear technology in bilateral cooperation should be assessed, adding that Namibia produces uranium. The Namibian premier said he discussed with Russia's natural resources minister, Yury Trutnev, and nuclear chief Sergei Kiriyenko cooperation prospects. Angula also said one of urgent problems was to help south African countries, including Namibia, satisfy their energy needs. In January, Renova Group and Techsnabexport, Russia's state-run nuclear exporter, signed a cooperation agreement to set up joint ventures as part of a joint investment project to prospect and develop uranium deposits in Africa and Asia. Techsnabexport and Russia's leading asset management company, headed by tycoun Viktor Vekselberg, plan to set up joint ventures in South Africa, Namibia and the Democratic Republic of Congo, the company said in a statement. ......................................................................... Namibia: China Offers Country N$1.7 Billion The Namibian The Namibian (Windhoek) February 7, 2007 Posted to the web February 7, 2007 Brigitte Weidlich CHINA has offered Government one billion Namibian dollars as a concessional loan over a three-year period until 2010, plus another N$720 million as a credit line, The Namibian established yesterday. The offer was made on Monday during bilateral talks shortly before Chinese President Hu Jintao wrapped up his brief visit of barely 23 hours to Namibia yesterday morning. Western Union After talks with Namibian President Hifikepunye Pohamba on Monday, a new grant and an interest-free loan agreement worth N$60 million were signed at a brief public signing ceremony. The state visit culminated with a banquet held in honour of Hu and his 130-member delegation. The Permanent Secretary in the Finance Ministry confirmed the huge amount yesterday afternoon. "The N$1 billion is in the form of a concessional loan, which means that Namibia can use those funds on projects it will decide on," Calle Schlettwein told The Namibian. "The second offer of US$ 00 million (about N$720 million) is a concessional credit line. This will enable our Government to acquire goods, services and equipment from China," Schlettwein added. He said Government still had to decide whether it would accept the offer. "We will then have to decide on which projects we will use those funds and then negotiate the loan terms," he explained. After Hu\'s departure, the two countries issued a joint communiquÃ©, but the loan offer was not mentioned. Namibia and China expressed their satisfaction with the strong ties that exist between them as well as political trust and good co-operation. "Both heads of state recognised the achievements made in trade and agreed to work together to strengthen co-operation in mining, agriculture, tourism, manufacturing and human resources development," the communique stated. Both countries now have four agreements in place: trade and economic co-operation, establishing a joint commission on trade and economic co-operation, a reciprocal treaty for the protection of trade and investments for both Chinese and Namibian businesspeople in China and Namibia. The fourth agreement was signed in Beijing last November during the Forum for China-Africa Co-operation (Focac). The Namibia Investment Centre and a similar institution in China, the China investment Promotion Agency (CIPA), agreed to promote and facilitate investment between the two countries. After Hu left, some 35 Chinese businesspeople who are part of his official delegation remained behind in Windhoek for a business presentation on Namibia as an investment destination. Relevant Links Southern Africa Namibia Asia, Australia, and Africa Aid and Assistance It was organised by the Namibia Investment Centre and the Ministry of Trade and Industry and some 50 Namibian captains of industry attended the session. Minister Immanuel Ngatjizeko called on the Chinese executives to form joint ventures with their Namibian counterparts and to invest in local value addition of the country\'s raw materials. "It is imperative that during all your deliberations and interactions, value addition should become your central strategy of engagement," Ngatjizeko urged."


----------



## sydney1963 (26 February 2007)

Appendix 3B ,Is that mean anything ????


----------



## chris1983 (26 February 2007)

sydney1963 said:
			
		

> Appendix 3B ,Is that mean anything ????




Nothing important.  Erongo still traded fairly heavily today compared to previous weeks.  Should be interesting to see what happens tomorrow.  I was looking for a nice move up today to confirm a breakout but we didnt get it.  The stocks still looking good though.  If it continues to trade in this range it looks good.  The last time it ran to 70 it dropped off pretty fast so hopefully we work our way back above 70.


----------



## bigdog (26 February 2007)

sydney1963

ERN 5:06 PM   Appendix 3B 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00697053

Todays Appendix 3B was New issue announcement, application for quotation of additional securities and agreement.  Is also used

Todays ERN ASX ANN issued 43,793 @ 20 cents per share for shares issued on exercise of options.


----------



## RIC (26 February 2007)

bought options today at 52

as chris said not as safe as bmn but i wanted to

diversify- also agree with chris that they have great
potential-those radiometrics look great and limited
drill data to date promising 
also in good financial position with diluted market
cap of qpprox 56m and this would also provide
7.4 m cash from option conversions
also bought a few ext and sold most of wmeo at profit

bmn and ern are my main holdings


----------



## mmmmining (26 February 2007)

RIC said:
			
		

> bought options today at 52
> 
> as chris said not as safe as bmn but i wanted to
> 
> ...




Having so many reference to radiometrics, that worries me.  I have to point out a fact, that is High Radiometric reading could be associated with alaskite outcrops, or could caused by isotopes of thorium, potassium, not necessary uranium mineralization.

I am not trying to do physic scientist's job, or so, we better not trying to cross the knowledge boundary, and get false impression.

In other words, The Radiometric Map is a good road map to find uranium. But not all hot spots contain uranium. Blindly believe "red hot = uranium" could be dangerous.

There is why we need historic data, ground survey and drilling to define the uranium resource.


----------



## chris1983 (27 February 2007)

They have proven there is uranium in the erongo mountains. See last quarterly report. They are trying to source the historic data.  I wouldn't panic if I saw a retrace.  They held up pretty good today.  Once again ERN are more speculative than other uranium companies such as BMN/EXT/DYL but thats when the larger profits can be made...when you buy a company that is still very early in its speculative stage.  I expect ERN to catch up to those other 3 companies and atleast make their market cap look reasonable to the other Namibian explorers.  You just gotta look at some of the Canadian uranium explorers also and you can see the endless potential of what Erongo can do..especially with their current epls.

I'll hold ERN even if they fall back.  Still a long way to go.  Uranium mineralisation is all over Namibia.  Uranium spot price isn't dropping anytime soon.  China and Russia are looking to move heavily into Namibia and how many tenements are left on offer?  Erongo will report some good samples etc and the SP will jump.  If you want you can take some profits on your holdings and free carry the rest or stay in for the long haul and go for gold.  I personally like the safer way of selling enough to free carry a large holding.  So when they run up to around $1.20 I might take some of my profits out and let the rest ride.  They aren't at that stage yet though so I guess we have to see how this company progresses.  Great management team though.  Show me the money!


----------



## chris1983 (27 February 2007)

Closed at 43 Euro on the Berlin exchange.  Asking 50 euro now with the bid still at 43.  Theres not many sellers over there..but it is always traded on a smaller volume.  I dont know why but there is always better support for the share on the Berlin exchange.  I think investors respect Klaus Eckhof more due to his success with Moto Gold Mines.


----------



## Basilisk (27 February 2007)

There's a big buy order for ERN in the pre-open this morning.


----------



## Halba (27 February 2007)

Doesn't mean much basilisk, as that bidder is always there every morning.


----------



## chris1983 (27 February 2007)

Yeah it doesnt matter unless he lets it go through.  It wont I bet.  He's put it there for everyone to see.  Trying to manipulate the price.  If it goes through then its a different matter...but yes..if it gets taken off on the open he's been there before.


----------



## bigdog (27 February 2007)

Chris,

ERN Company Trading Status: *Pre-Open * after open this morning

There is no ASX ann yet!!

What is happening?


----------



## nizar (27 February 2007)

bigdog said:
			
		

> Chris,
> 
> ERN Company Trading Status: *Pre-Open * after open this morning
> 
> ...




Yeh looks like a trading halt.


----------



## chris1983 (27 February 2007)

I reckon thats good signs.  500k buy order trying to get in before the trading halt.  What do you guys think?


----------



## chris1983 (27 February 2007)

It has to be a halt.  They haven't traded yet and its been almost 20 minutes..lala...annoying.  I would like to know whats going on.


----------



## Halba (27 February 2007)

ditto.

I have a feeling banners is also due for some drill anns, been drilling a lot for the past few weeks.


----------



## chris1983 (27 February 2007)

Mate we dont even need to worry about Bannerman.  I am so confident with them.  Bet you are also.  Need to get erongo off and kicking now.


----------



## Halba (27 February 2007)

This is weird. Paladin is also suspended. Coincidence???


----------



## chris1983 (27 February 2007)

ahh its the mineral sand licenses


----------



## chris1983 (27 February 2007)

Looks good though.  I just read the message.  This Klaus Eckhof bloke is a champ


----------



## bigdog (27 February 2007)

ASX ANN
Paladin PDN 10:24 AM Announces Takeover Offer for Summit Resources Limited  at $5.12

http://www.asx.com.au/asx/statistic...?idsID=00697318


----------



## bigdog (27 February 2007)

ASX ann
ERN 10:27 AM  Granting of Mineral Sands Licence in Namibia 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00697327


----------



## mmmmining (27 February 2007)

Any hope of good uranium news is evaporated. But it is OK


----------



## JWBH01 (27 February 2007)

chris1983 said:
			
		

> ahh its the mineral sand licenses




What does this mean for the Uranium side of things?


----------



## chris1983 (27 February 2007)

It doesn't mean anything.  Its actually good news..but some investors want uranium news.  Probably bought in for uranium news.  But hey I'm not worried.  They speak of an in-specie distribution.


----------



## wondra (27 February 2007)

One thing some seem to have missed..... that order for 500,000 @ .72 wasnt pulled, it got filled. Thats $360,000. An order of 200k went through at yesterdays open. Someone is happy to accumulate at these levels.


----------



## RIC (27 February 2007)

anybody know what those mineral sands are worth

does anybody have any good info on their uranium

prospects ie any idea of posssible u308 tonnage


cheers


----------



## Halba (27 February 2007)

hi i think u tonnage is in the several tens of millions of tonnes

just their anomaly A:

1000m*800m*3.5(drill hole density)*35m(average thickness) = 100mT

Say average grade is low like Uramin - 0.015%

100mT @ 0.015 = 33million pounds

of course this is in 1 anomaly, they say 21 anomalies on their tenements, and hopefully >20% are u bearing, with potential calcrete or granite high grade zones?


----------



## chris1983 (27 February 2007)

Halba said:
			
		

> hi i think u tonnage is in the several tens of millions of tonnes
> 
> just their anomaly A:
> 
> ...




Nice analysis there.  ERN will be fine..and I agree that there should be some updates on the fieldwork soon.  Not sure on what the mineral sands are worth..but mineral sands is also taking off.  Look at IMA.


----------



## Halba (27 February 2007)

we get some free in speccie shares LOL. i guess aiight.


----------



## chris1983 (27 February 2007)

From the message..It sounds like it could be a very "significant" deposit.  They like that word significant..thats a pretty big statement.  I like the look of Erongo.  Oil/Uranium/Mineral Sands.  Bring it on.  Now give me some good uranium samples to push us past $1.


----------



## sydney1963 (27 February 2007)

chris1983 said:
			
		

> From the message..It sounds like it could be a very "significant" deposit.  They like that word significant..thats a pretty big statement.  I like the look of Erongo.  Oil/Uranium/Mineral Sands.  Bring it on.  Now give me some good uranium samples to push us past $1.



What is the effect on BMN@ERN if labour conference refused uranium mining in AUS. [April this year].


----------



## Halba (27 February 2007)

not going to happen sydney

its pretty much a done deal

too many billions of dollars at stake & foreign relations with the Rofworld

As of this week the probability of this going ahead in all states is about nearly 95%


----------



## mmmmining (27 February 2007)

Halba said:
			
		

> not going to happen .... foreign relations with the Rofworld



Agreed. Johny Howard consider Australian is the 51 state of the United States of A.....
Ruddy speak Chinese....

Unless someone draw a line over the Olympic Dams, divided into two, give one half to the Americans, and the other half to the Chinese....


----------



## nizar (27 February 2007)

Halba said:
			
		

> not going to happen sydney
> 
> its pretty much a done deal
> 
> ...




Agreed.
Its a done deal.

I was 95% certain laws would change after Borshoff bought VUL. Now with SMM purchase im 100% certain.

Too bad we cant really profit from it now that SMM is gone.

Whats the next best exposure?

MTN?? DYL??


----------



## sydney1963 (27 February 2007)

mmmmining said:
			
		

> Agreed. Johny Howard consider Australian is the 51 state of the United States of A.....
> Ruddy speak Chinese....
> 
> Unless someone draw a line over the Olympic Dams, divided into two, give one half to the Americans, and the other half to the Chinese....



Chinese could get will with bmn & ern to secure uranium.


----------



## mmmmining (27 February 2007)

sydney1963 said:
			
		

> Chinese could get will with bmn & ern to secure uranium.



Not a chance. They prefer to get a piece of land somewhere in Namibia, and mobilize 1bn Chinese to dig it up...


----------



## Halba (27 February 2007)

me dun think smm is gone yet

yes mmming they have asked for a few licenses


as i type it looks like my top up bad timing - uk market has crashed 100 points


----------



## RIC (27 February 2007)

hi chris

if  have 33 million lbs in anomaly a only how

come ern not $4 now-how sure are we that they

have any decent quantity. by the way i came from
oil and that oil revenue is very small. i like look of
their minerals sands it looks huge 40km*20km*200m

i did buy some more ern today


----------



## mmmmining (27 February 2007)

Halba said:
			
		

> me dun think smm is gone yet
> 
> yes mmming they have asked for a few licenses
> 
> ...




I can smell the correction is coming. But I am kind of disappointed it is triggered by crashed Chinese market. 

Anyway, uranium stock has better chance to survive, 10-20% correction or recover for uranium stock will be well within normal range.


----------



## Halba (27 February 2007)

chinese mkt up 100% since october 2006, thats about 4 months up 100%

it is natural reaction to go down after going up so much


----------



## Halba (28 February 2007)

with everything hit hard, just going back to the potential of this co

Going back to their erongo anomalies, there are 2 major anomalies 

one is 25km by around 5km wide. If the whole anomaly is uranium bearing, assuming intersection of around 1-2m thick average intersection

25,000m *5000*3.5*1 = 437mT 

In anomaly 2, there is about 10km by 3km anomaly

10,000*3000*3.5*1 = 100mT

Total tonnage @1m intersection width - 537mT

assuming a low average grade of 0.012%

537mt @ 0.012% = 141mil pounds. Of course if higher grade zones were found within each anomaly it would be bumped up. Same with higher thicknesses/widths this would be bumped up.


----------



## nizar (28 February 2007)

Halba said:
			
		

> with everything hit hard, just going back to the potential of this co
> 
> Going back to their erongo anomalies, there are 2 major anomalies
> 
> ...




Yeh good analysis but like no1 cares during a correction.
Stocks get smashed non-selectively.

But its a quality stock and will bounce back - just dunno when - and how much more pain btw now and then.


----------



## chris1983 (28 February 2007)

nizar said:
			
		

> Yeh good analysis but like no1 cares during a correction.
> Stocks get smashed non-selectively.
> 
> But its a quality stock and will bounce back - just dunno when - and how much more pain btw now and then.




Haha..pretty straight forward there.  I liked that litte write up.  Its true though.  Anything will get smashed.  Our stocks will all bounce back twice as strong in 6 months time.  Probably stronger!


----------



## Halba (28 February 2007)

Agreed all just felt like reinforcing some of the positives on a down day.

Feel better doing it  : . Man what a frikkin wipe out today. Overall am down nearly $100k . The average resource stock is down 10%.


----------



## chris1983 (28 February 2007)

Your fund must be huge 

I was hitting all time highs on my fund yesterday and that is close to the amount you lost today halba..haha im a little fish.  I was down 6 k today.


----------



## Halba (28 February 2007)

Its all on paper- these co's fundamentals have not changed by 1 china shock.


----------



## mmmmining (28 February 2007)

Halba said:
			
		

> Agreed all just felt like reinforcing some of the positives on a down day.
> 
> Feel better doing it  : . Man what a frikkin wipe out today. Overall am down nearly $100k . The average resource stock is down 10%.




Halba, you are not alone.  But I am a little happier then you because I picked up $10 on the street today! What a consolation price! 

Well, I might have to wait for the day after tomorrow to add more position on ERN before I have chance to observe the price action tomorrow.


----------



## bean (28 February 2007)

For every sellar there was a buyer so the ones that bought at the lows today are making money already.  - 10% (9.3%) loss wasn't to bad today because it was a lot worse when they were all at there lows.


----------



## LifeisShort (28 February 2007)

mmmmining said:
			
		

> Halba, you are not alone.  But I am a little happier then you because I picked up $10 on the street today! What a consolation price!
> 
> Well, I might have to wait for the day after tomorrow to add more position on ERN before I have chance to observe the price action tomorrow.




Was it from the guy who jumped from the roof and his wallet was emptied by passers by?


----------



## mmmmining (1 March 2007)

Have observed the ERN's price having shown no strength today, I might put adding position on hold. Meanwhile, I am going to estimate the next possible ann release date. 

Without ann or hearsay, it is very hard to move this stock up. 

Similar to BMN, or EXT, which has a drilling program going on, ERN has a rock grabbing program on going, right?

I guess rock grabbing might yield good results easily because they can pick the finest rocks they can find, and chip away the worst part of the rocks to make sample with 105% of contained U3O8 , or they can easily smuggling a few (Just kidding). 

What do you guys think?


----------



## Halba (1 March 2007)

imho think the mngmt of ern is very good(do a lil research) and the consultants are good. if no ann by end week i might shoot off a friendly email, but don't doubt their mngmt knowledge -marc gasson, klaus eckhoff very reputed and experienced and should deliver.


----------



## mmmmining (1 March 2007)

Halba said:
			
		

> imho think the mngmt of ern is very good(do a lil research) and the consultants are good. if no ann by end week i might shoot off a friendly email, but don't doubt their mngmt knowledge -marc gasson, klaus eckhoff very reputed and experienced and should deliver.



Halba, you just have been brainwashed by Chris (Kidding). How is your portfolio? Let me guess, you have recovered one-tenth of your yesterday loss?

I watched 6 hours movies for the whole day. Only spent less than 10 min checking the market during the trading hour.


----------



## chris1983 (1 March 2007)

Haha brainwashed by me   too bad I can't brainwash everyone.  Uranium stocks are taking a bit of a hit atm.  I dont really want any news out on erongo untill the dust settles with the markets.  They probably wont react how they should to good news.

I still think everything will settle within a week or two.  Its actually the time to be buying..but I have no cash.  So I just have to sit on what I have.  You guys wouldnt of eroded your profits allready?  Im only back to where i was just over a week ago.


----------



## Halba (1 March 2007)

Nup no recovery mmmmining. I am deep in the s**t after my DMX loss, lost 3 thousand bucks. 

Other than that I think my JMS sucks and others within normal limits. Can't control everything in corrections.


I'm looking to add some ASX 50 solid stocks in this correction. I have enough good uranium stocks.


----------



## nizar (1 March 2007)

chris1983 said:
			
		

> You guys wouldnt of eroded your profits allready?  Im only back to where i was just over a week ago.




Brother not everybody bought ERN at 1c


----------



## chris1983 (2 March 2007)

nizar said:
			
		

> Brother not everybody bought ERN at 1c




haha I wish.  avg price is 48 cents for 34 k shares   So my profits on erongo have pretty much dried up..but I was in loss when they were 40 cents so I dont really care.  Im keeping my 3 uranium stocks plus my Gas stock (Arrow Energy).  Have you guys look into WMT?  I like them but they probably have too many shares.  They seem to be progressing well though.  If the correction continues..which it looks to be in a very cautious state atm I still believe the uranium sector is the place to be.  Energy stocks will be fine IMO.  Will get hit initially but it wont last.


----------



## bean (2 March 2007)

If we are losing and we still hold - why did we buy in the first place.
To make money we all still think that one day this stock will make money.
I have been selling uranium stocks last few weeks but am holding some long term. I have bought gold and silver shares.  Still looking at Zinc and Nickel - WHY FUNDAMAENTALS - sell yes but you will buy back for the same reason you bought in the first place.
When telstra hits $2.50 and uranium is $100.
when you do a search on google and the stock is worth US$400.
Search google at US$400 what do you find a web page link.  or search for something real urainium US$85 lb


----------



## chris1983 (2 March 2007)

eh..im confused on what your saying Bean


----------



## nizar (2 March 2007)

chris1983 said:
			
		

> eh..im confused on what your saying Bean




Yeh me too.
Mr. Bean maybe you should just stick to telling jokes ? LOL


----------



## YOUNG_TRADER (2 March 2007)

Thats why Mr Bean never spoke much during he's comedy series, apart from the "Name please" "BEAN!" line lol, as he never made much sense  : 

I'm confused BEAN, should I go on to google and search for how to buy 85 lbs of uranium through TELSTRA for a $2.50 search fee? ? ? ?   :


----------



## bean (2 March 2007)

Sorry To many sherbets
Buy Google Market Cap US$137 billion and US$447 a share they search and they can find a uranium stock
I am sure they do something else

Everyone is Know knocking uranium. Why because their charts say so.  We know that if the stock gets hit so... ...The fundamentals mean it will go up eventually. If it finds uranium.  People can say no uranium power stations, mining etc etc but the true bulls know that its going to happen.  So for next 5 - 15 a shortage years  and price wise.. 

I have 25% uranium 75% gold and silver.  (was 80% uranium till last week)


----------



## sydneysider (2 March 2007)

bean said:
			
		

> Sorry To many sherbets
> Buy Google Market Cap US$137 billion and US$447 a share they search and they can find a uranium stock
> I am sure they do something else
> 
> ...




I think u have the right balance. The only U stock I am holding right now is HLX and it is mostly a gold play at Tunkilla


----------



## chris1983 (2 March 2007)

sydneysider said:
			
		

> I think u have the right balance. The only U stock I am holding right now is HLX and it is mostly a gold play at Tunkilla




Ive got the right balance when my fund powers up showing excellent profits.  Energy stocks.  3 uraniums.  1 gas. 1 nickel.

Yes uranium can be dangerous but if you choose right you will be counting excellent profits.  I believe Bannerman and Erongo will fit into that picture of excellent profits.  Anyway as long as the markets stabilize we will see erongo back up above 70 in no time.  I'm hoping for some good news from the fieldwork which I believe they will deliver.  Good luck to holders.


----------



## Sanhedrin (2 March 2007)

Chris which nickel stock do you hold, I have quite a few ERN now also

I am considering getting on to AGM, I think it has geat fundamentals and will be producing in Q3 2007.


----------



## Halba (2 March 2007)

Q3? try Q4 2007, and it looks priced into the SP


----------



## chris1983 (2 March 2007)

I havnt really bought into AGM for a short term trade. AGM is my only Nickel atm. Im expecting to hold for another 8-12 months.  I expect them to make more Nickel discovies as they are in a very prospective area.  Labour costs are low and the cost of production is cheaper in Tasmania.  Its a good hold IMO.


----------



## chris1983 (2 March 2007)

We should be talking about erongo..

Go erongo!!

haha


----------



## LifeisShort (2 March 2007)

Sanhedrin said:
			
		

> Chris which nickel stock do you hold, I have quite a few ERN now also
> 
> I am considering getting on to AGM, I think it has geat fundamentals and will be producing in Q3 2007.




There is a few nickel stocks going gang busters at the moment. One of Chris' or THX which a report from Carmichael that came out recently says its undervalued. Market cap is still quite low for a potential producer late 2007/ early 2008. Its in partnership with Sally Mallay one of the projects. Apart from that ther are others yoi might want to explore


----------



## chris1983 (3 March 2007)

chris1983 said:
			
		

> I havnt really bought into AGM for a short term trade. AGM is my only Nickel atm. Im expecting to hold for another 8-12 months.  I expect them to make more Nickel discovies as they are in a very prospective area.  Labour costs are low and the cost of production is cheaper in Tasmania.  Its a good hold IMO.




discoveries.  I so need a spell checker on this thing   I'm not used to reading over my posts before I post them :\


----------



## nizar (6 March 2007)

ERN to bounce off 50c like it did last time?


----------



## chris1983 (6 March 2007)

nizar said:
			
		

> ERN to bounce off 50c like it did last time?




  My entire fund is getting belted today.  I just want to see signs of recovery with world markets.  It wont take much for ERN to bounce.  Its such low volume with this selloff.


----------



## Halba (6 March 2007)

Last time u price was $50/lb, now heading to $100/lb. U would think ERN is better value now. Time will help. I am holding for 4 yrs.


----------



## chris1983 (6 March 2007)

nizar said:
			
		

> ERN to bounce off 50c like it did last time?




Looks like they bounced.


----------



## Halba (6 March 2007)

Chris I sent off an email to ERN mark gasson (who i had prior contact), just asking them to kindly release an update...

Cheers!

Will let you know of the response (but I won't copy the email directly due to various reasons).

Its a very slow share this ERN, whilst other u shares go up, ERN nothing for months.


----------



## Broadside (6 March 2007)

Halba said:
			
		

> chris i sent off an email to ERN mark gasson (who i had prior contact), just asking them to kindly release an update...
> 
> cheers!
> 
> ...




Hopefully it will do a MTN, which was fairly quiet and then all of a sudden it was flavour of the month.  I won't make the mistake I made with MTN and sell too soon....if ERN does start to run, that is.  Anyway I am long the options, plenty of time to expiry so I am content to sit back and enjoy the show.


----------



## chris1983 (6 March 2007)

yeah I know hey.  Pretty slow.  Had a run from 40 to 70 and now we are back to where we were awhile ago.  I'm not selling though.  Let me know how the update goes.


----------



## Halba (6 March 2007)

yup they normally reply quick


----------



## Go Nuke (6 March 2007)

So any predictions on the sp from here? Or are we just waiting for action on  Wall street tonight?

Going to try pick some up at 52c..but im not too sure if that will be the low for the day tomorrow.

If someone knows something i dont..please dont hesitate to let me know

 :microwave


----------



## chris1983 (6 March 2007)

Go Nuke said:
			
		

> So any predictions on the sp from here? Or are we just waiting for action on  Wall street tonight?
> 
> Going to try pick some up at 52c..but im not too sure if that will be the low for the day tomorrow.
> 
> ...




Yeah..pretty much watch the markets and hope the correction is over.  Then we will see our stocks rally to higher highs.  Fundamentals hasn't changed on uranium stocks and the uranium spot price hasn't taken a backward step. ERN hasnt been hit hard.  I dont think it would take much action to push it back to the low to mid 60 level.


----------



## JWBH01 (6 March 2007)

Yeah I'm not too worried about this correct, I just added quite a few more options to my holding.  Need the options to go above 50c even 60 c so I can sell some off.


----------



## Halba (7 March 2007)

Att: ern shareholders

Update is coming. Just got email from Mark Gasson, who is professional imho and replies back quick to my emails. 

They are busily putting together results of the desktop study(as mentioned in the quarterly) and an update to the mkt. I replied back and told them not to be under any pressure. Let update come when they are fully ready.


----------



## Go Nuke (7 March 2007)

Well it didnt make it to 52c today.
Patients isn't my forte...so Im thinking if an ann is on the way, I should stop being a tight **** and just buy at 55c

Very little volume though  
Up...or Down...


----------



## chris1983 (7 March 2007)

Halba said:
			
		

> Att: ern shareholders
> 
> Update is coming. Just got email from Mark Gasson, who is professional imho and replies back quick to my emails.
> 
> They are busily putting together results of the desktop study(as mentioned in the quarterly) and an update to the mkt. I replied back and told them not to be under any pressure. Let update come when they are fully ready.




Looking forward to the update.  Thanks for the follow up Halba.


----------



## Go Nuke (8 March 2007)

Nup stuff it!
Got impatient with chasing the SP..52c,54c,55c......just bought at 57c...especially if there is an update comming out soon (thx for that show of pulling power Halba

At least it ain't down like some U stocks today.


----------



## Halba (8 March 2007)

Hope its a favourable update. The fact that they sound busy means a lot of stuff hopefully. Don't blame me if its bad but!


----------



## chris1983 (8 March 2007)

Halba said:
			
		

> Hope its a favourable update. The fact that they sound busy means a lot of stuff hopefully. Don't blame me if its bad but!





haha   Nice cover Halba.  Ive got my friend from Singapore on the buy list at 55 cents..and she's on the buy list for Bannerman at 2.45.  She was one day too late.  Missed all the lows.  Still cheap at these levels.

Will be interesting to see more of the historical data.


----------



## Basilisk (9 March 2007)

Halba said:
			
		

> Hope its a favourable update. The fact that they sound busy means a lot of stuff hopefully. Don't blame me if its bad but!




Looks like it might be favourable.
Risen to .62  so far today and theres a 100k buy sitting at .61


----------



## Halba (9 March 2007)

65c!!


----------



## chris1983 (9 March 2007)

Basilisk said:
			
		

> Looks like it might be favourable.
> Risen to .62  so far today and theres a 100k buy sitting at .61




Yeah its starting to look good.  We wont know for sure untill that announcement comes out though. This one could show the profits hard and fast.  Thats what we are waiting for aint it Halba


----------



## Halba (9 March 2007)

yep i like ern if it delivers the goods i will relook at my position sizing. out of all the african explorers, ern has the lowest undiluted mkt cap at $20m


----------



## chris1983 (9 March 2007)

Halba said:
			
		

> yep i like ern if it delivers the goods i will relook at my position sizing. out of all the african explorers, ern has the lowest undiluted mkt cap at $20m




Didnt you increase your position allready?


----------



## Halba (9 March 2007)

lmao i did 1 day before the correction. boy was i smart?   Thought that breakout meant some reall good news was coming. it was a false run...


----------



## nizar (9 March 2007)

Halba said:
			
		

> yep i like ern if it delivers the goods i will relook at my position sizing. out of all the african explorers, ern has the lowest undiluted mkt cap at $20m




Mantra?
Yeh i know its just dirt but still an explorer


----------



## Halba (9 March 2007)

At least ERN has a drill core log diagram! And 25km radiometrics.

I don't see MRU having that, but if you hold thats fair enuff. I'll join MRU one day if it has some good drill results.


----------



## chris1983 (9 March 2007)

Halba said:
			
		

> lmao i did 1 day before the correction. boy was i smart?   Thought that breakout meant some reall good news was coming. it was a false run...




Well it had a run like this before..when the news in regards to the mineral sands projects was released.  You even said Mark Gasson replied to your email saying there will be an update so there is probably news around the corner.


----------



## Go Nuke (9 March 2007)

Go hard for 80c  ERN i say!!
no...maybe not that hard too soon
Im glad i topped up at 57c

Currently has had a 15.52%change and MTN has 13.94.
Both pretty good building


----------



## chris1983 (9 March 2007)

Go Nuke said:
			
		

> Go hard for 80c  ERN i say!!
> no...maybe not that hard too soon
> Im glad i topped up at 57c
> 
> ...





hmm

when it gets over $1 i'll be happy.  Good signs though.


----------



## mmmmining (9 March 2007)

Halba said:
			
		

> At least ERN has a drill core log diagram! And 25km radiometrics.
> 
> I don't see MRU having that, but if you hold thats fair enuff. I'll join MRU one day if it has some good drill results.



Halba, The uranium game is total out of control recently. There is no rational, and no rules, totally supply and demand (of shares, not uranium). 

I use to own MRUO because Pacific some company have bought a lot. I sold it in Dec? after I was told by the company that no there is no drilling program with 6 month. 

I found the price was keeping up without ann, results, etc.

Same story with BLR. I got in with uranium story, and get out too early for the poor quality of uranium asset, you see, it is 22c stock now...


----------



## Halba (9 March 2007)

Wow. I actually got into BLR today. Didn't think it was that poor quality - they mentioned 20 million pounds potential, good grades. At least they have historical drilling and a resource -much better than many others incl. ERN.


----------



## chris1983 (10 March 2007)

Halba said:
			
		

> Wow. I actually got into BLR today. Didn't think it was that poor quality - they mentioned 20 million pounds potential, good grades. At least they have historical drilling and a resource -much better than many others incl. ERN.




I dont mind BLR but they have as follows

*525 million shares*

*108 million oppies exercisable at 4.5 cents with an expiry date at 	2/28/2011*

In total fully diluted market cap is what?  Just under 140 million.  They will get diluted a lot further as they progress their operations.

Erongo have

*39 million ordinary shares*

*37.5 million oppies exercisable at 20 cents with an expiry date at 4/30/2009*

Erongo have 4 million cash at bank whereas Blackrange have 3.5 million at bank.  For Blackrange to raise an additional 4 million dollars they would probably have to release shares at around say 20 cents.  This would then be an additional 20 million shares onto the market diluting your holding.  Maybe Blackrange are okay for a quick trade..thats all I would be going for.  They mention 20 million pounds but its only potential..just look at the potential uranium deposits for Bannerman.  If your going off potential we should have a lot larger market cap for Bannerman.

In my opinion Erongo are the best ones to be going for.

4 tenements granted in Namibia/Oil assets in Louisiana/Mineral sands assets in Namibia (Spinoff being likely).

They still have an additional license pending in Namibia which contains 5 Mt ore grading 287 ppm U3O8 and would have serious potential due to limited drilling on the license.  Dont count this one out.  It hasn't been rejected yet by the Namibian government and is only on hold because they are reviewing their granting procedures.  I would be putting my bets on erongo even if they didn't get the extra license.

Their fully diluted market cap is 51 million.  This one has a lot to move yet.


----------



## Go Nuke (10 March 2007)

Oh Im really hopeing to see that green line bounce up and cross the average in the MACD

I know little about shares..but even i can see the light and glad to be onboard ERN


**The same as BMN**


----------



## Halba (10 March 2007)

Agree Chris but I invested in BLR for some smaller diversification. I hold like 2k in BLR and 40 times that in BMN so agree.


Happy that ERN closed well on friday, news must be imminent.


----------



## Halba (11 March 2007)

Attention all:

I have reviewed Erongo's drill core log diagram as in the quarterly and calculated a hypothetical drill results from it

Assuming it was to scale, and given they provided it went to 170m depth i got the following:


At Surface zone: 

Metres

3.2 @ 496PPM

1.3m @ 580ppm

1.4m @ 302ppm

1.75 @ 180ppm

in the middle/end zone:

1m @ 180ppm
1.2m @ 145ppm
0.5 @ 230ppm
1.6 @ 134ppm
1.6 @ 138ppm
1 @ 137ppm
1.6 @ 262ppm
1.4 @ 500ppm

AVERAGE meterage for AT SURFACE zone: 7.6m @ 400ppm 

Average meterage for MIDDLE/BOTTOM zone: 10m@ 220ppm

TOTAL: 17m @ about 300PPM

Assuming the drilled out anomaly (out of 21 anomalies) is consistent throughout

you get 1000*800*3.5*17 = 47mT

Grade is 300ppm

so 47mT @ 300ppm = 14000t of contained u or

31,000,000 pounds in the first anomaly. This ignores the other 20 anomalies and possible higher grade zones/larger tonnage in other areas.

Conclusions: The at surface grades are very promising and this is sure to be an economic deposit.


----------



## Accaeric (12 March 2007)

Trading halt.
Received historial exploration data, is supposed to be good news?


----------



## chris1983 (12 March 2007)

Accaeric said:
			
		

> Trading halt.
> Received historial exploration data, is supposed to be good news?




Hoping so.  They obviously don't want price movements in the sp.  If it was good and it leaked we could see it shoot up 20/30 cents.  After the price action on Friday though I'm hoping for it to be good.


----------



## Halba (12 March 2007)

Yep i guess mark wasn't lying when he told me report was imminent.

Hope its solid.


----------



## captjohn (12 March 2007)

FN Arena announced spot price of Uranium up to $90

captjohn


----------



## towie (12 March 2007)

Lets hope we come out the other end of this waiting game with smiles.
I really dont like trading halts Ive had some bad luck with them in the past.


----------



## UraniumLover (12 March 2007)

towie said:
			
		

> Lets hope we come out the other end of this waiting game with smiles.
> I really dont like trading halts Ive had some bad luck with them in the past.




I'm assuming it would be good news to take advantage of the current bullish run to get past 70 cents.. but this is speculation.. What ever way it moves it will probably be a large movement.. Hopefully up


----------



## mmmmining (12 March 2007)

UraniumLover said:
			
		

> I'm assuming it would be good news to take advantage of the current bullish run to get past 70 cents.. but this is speculation.. What ever way it moves it will probably be a large movement.. Hopefully up




People who are expecting good news have driven the SP from 51c to 67c already (30%)

The ann has to be exceptional one to drive the SP further up.


----------



## chris1983 (12 March 2007)

mmmmining said:
			
		

> People who are expecting good news have driven the SP from 51c to 67c already (30%)
> 
> The ann has to be exceptional one to drive the SP further up.




Do you know how many shares traded mmmmining to get it up to that price?  Under 1 Million shares.  It will be driven up a lot further if it is good news.


----------



## Halba (12 March 2007)

mmmining you have mentioned it has run up a lot but what is the mkt cap at the respective prices>> answer : it is low


----------



## towie (14 March 2007)

Great announcement,
excellent tonnages thick intersections and near surface,
plus its open to the south.
Maybe this will help the market sit up and take some notice.


----------



## Reefer (14 March 2007)

What does everone think of the announcement re the historical drilling???
Company seems pretty pumped!!


----------



## chris1983 (14 March 2007)

Its excellent.  I'm happy with my holding.  Im just going to leave these.


----------



## Sean K (14 March 2007)

I'm not sure. 348ppm the highest reading. Not really that outstanding, but if it averages above 250 then it's got a chance of being a mine one day. Once it starts getting 500 + ppm, get excited.


----------



## Halba (14 March 2007)

excellent news all. How good is this. $50m mkt cap for a uranium mega mega deposit?


----------



## JWBH01 (14 March 2007)

I din't like the usage of the term low grade.  Doesn't sound the best.


----------



## towie (14 March 2007)

Those results are for area 1
check out the size of the anomoly identified in area 3
and even then we only have 2 areas out of the 4 prospects covered,
 this company could be anything, its in a known Uranium area and our tenaments have plenty to go yet, I wouldnt be selling these for anything till we have drilling results for the whole lot.


----------



## chris1983 (14 March 2007)

kennas said:
			
		

> I'm not sure. 348ppm the highest reading. Not really that outstanding, but if it averages above 250 then it's got a chance of being a mine one day. Once it starts getting 500 + ppm, get excited.




Kennas.  Do you know the grades in Namibia?  This is great news.   I dont think Bannerman will even hit many drills with grades greater than 500ppm.

Look at the spot price of uranium now.  This is economically viable.


----------



## chris1983 (14 March 2007)

JWBH01 said:
			
		

> I din't like the usage of the term low grade.  Doesn't sound the best.




Sell on the open then.  Rossing the largest open cut mine in the world use the terms "low grade" 

I dont know what more you people want.

The only bad thing about this announcement is it comes one day after a large drop on the DOW.


----------



## kevro (14 March 2007)

The best is that this is only from one anomoly. They have 21 other anomolies of interest to be investigated and a possible 5th tenement to be awarded.


----------



## Halba (14 March 2007)

Having said that I'm not expecting a huge open. Bear in mind the dow has an absolute shokka last night. So anyone can buy it, it won't open that high.


----------



## Sean K (14 March 2007)

Halba said:
			
		

> Kennas your negativity on these results is somewhat disturbing.
> 
> Re-read the ann and see the potential.
> 
> There are anomalies everywhere and proven uranium results.



The average grade on the reported holes is about 260. Valencia is about this I think, so it might be viable one day. One day. These are historical results. ERN haven't lifted a shovel yet!

I'm not been negative, but objective.

I obviously don't own it.


----------



## Halba (14 March 2007)

"so it might be viable one day"

It's viable now kennas. Not sure but I read somewhere u price was $90.


----------



## Sean K (14 March 2007)

chris1983 said:
			
		

> Kennas.  Do you know the grades in Namibia?  This is great news.   I dont think Bannerman will even hit many drills with grades greater than 500ppm.
> 
> Look at the spot price of uranium now.  This is economically viable.



Yes:

LH 875ppm
Rossing 320 ppm (but 374 m/tn)
BMN 300-500 ppm

It's only economically viable if they have enough at such low grade.


----------



## Halba (14 March 2007)

Theres about 11 million pounds in that 1 area... and its open. Potential is very large. And thats economic. Market doesn't need a jorc with 40-50m mkt cap.


----------



## JWBH01 (14 March 2007)

chris1983 said:
			
		

> Sell on the open then.  Rossing the largest open cut mine in the world use the terms "low grade"
> 
> I dont know what more you people want.
> 
> The only bad thing about this announcement is it comes one day after a large drop on the DOW.




No way I would sell this yet, I'm in for the long haul, just thought the wording could have sold it a bit better.

I'm just as happy as everyone else who's on this one, don't worry about that.


----------



## Halba (14 March 2007)

Also they are forwarding quick to a 10,000m drill program. These guys are very professional IMHO.

Bear in mind considering their puny mkt cap this is very cheap on a peer valuation basis


----------



## Halba (14 March 2007)

800*250*3.5*30m thick*0.025% = roughly 5200t

5200*2200 = 11.5million pounds


assuming it extends to 800m*800m then

800*800*3.5*30*0.025% = 39mil pounds


----------



## Halba (14 March 2007)

Omegacorp got taken over for about $180m dollars. They only had about 12-13million pounds. So theres a peer valuation IMHO. Looks good value to me. If you want to get it cheap the mkt is putting it down as DOW is weak.


----------



## nizar (14 March 2007)

LOL gotta love those bandwagons.
Just like DYL used to be in IT.
MKY used to be in advertising.
But hey - as long as the sp goes up we all happy


----------



## captjohn (14 March 2007)

Unfortunately  not good timing for announcement when U.S. & Asx down so much today.....seems good positive news tho'.....just topped up at 63 cents
captjohn


----------



## Sean K (14 March 2007)

Halba said:
			
		

> 800*250*3.5*30m thick*0.025% = roughly 5200t
> 
> 5200*2200 = 11.5million pounds
> 
> ...



Sorry, what's the 3.5 Halba. I don't know how to do the maths here. Cheers.

Must say here, I am only trying to keep all this in perspective. I'm not downramping or anything, just trying to see the true value in this desk top study they've just done.


----------



## Halba (14 March 2007)

np kennas. I try to do proper analysis you know that 3.5 = drill hole density. 

So you can see the potential. Bear in mind thats about 39million pounds in the 1st anomaly. There are other bigger anomalies in their picture(diagram) attached. If they get similar hits at similar grade in their drill program this will be bumped up.


----------



## Halba (14 March 2007)

Yep both chris and i have put a lot of analysis. Todays batch of info increases the probability of a deposit and what appears to be a big mine (in my own opinion). It also gives us more info with which to analyse. It looks as though 60c support is very strong. IMHO it might consolidate before the drill program.

American/overseas mkts can do little to the uranium mkt. The uranium mkt is the best market right now in the world.


----------



## chris1983 (14 March 2007)

If you can't see this is one of the best uranium plays on the ASX atm with a low market cap then I can't help you.  4 tenements in namibia..one with historic drilling..cash at bank..hardly any shares on issue..a further uranium epl pending with a historic resource and Klaus is building mineral sands epl's for a spinoff.  Klaus has had previous work in Africa and he obviously has some friends over there.  The SP is holding very well.  There wont be many sellers under 60.  Just need the markets to stabilise.


----------



## Sean K (14 March 2007)

Halba said:
			
		

> np kennas. I try to do proper analysis you know that 3.5 = drill hole density.
> 
> So you can see the potential. Bear in mind thats about 39million pounds in the 1st anomaly. There are other bigger anomalies in their picture(diagram) attached. If they get similar hits at similar grade in their drill program this will be bumped up.



Well, that seems to add up to me. 

Is 3.5 the usual density, or does it come out in the results somewhere?


----------



## Halba (14 March 2007)

Thats the figure they use for uranium I believe.


----------



## sydney1963 (14 March 2007)

chris1983 said:
			
		

> Kennas.  Do you know the grades in Namibia?  This is great news.   I dont think Bannerman will even hit many drills with grades greater than 500ppm.
> 
> Look at the spot price of uranium now.  This is economically viable.



Carmichael latest report for BMN stated that that the average grades in the region is 300 ppm to 450 ppm


----------



## captjohn (14 March 2007)

Look Guys,

These little Uranium Juniors are just that !!.....in every sense of the word...
coz...their owners(directors) are just not yet up to the standard of "blue chip" executives with degrees in commerce , company law, geology etc.We are all more or less on the Uranium bandwagon......stuck with  some 'cowboy directors'...Let's hope they learn quickly not to make mistakes.

 However,...Let's not look a gift horse in the mouth ....As I see it we all should be thankful that ern has confirmed a deposit that can produce.....how much .... ?? Halba & Chris will do maths...with guestimates...
Chris 1983 has been confident for ages about ern  & he's right !! I bought in recently at support level of 60 ...so happy with that.  .....

Our best bonus is that 'no more EPL's are being issued in Namibia .....so we are in an exclusive club & SP for all explorers there (BMN, Ext Ern Dyl etc .etc.)should only increase.   captjohn


----------



## sydney1963 (14 March 2007)

kennas said:
			
		

> Well, that seems to add up to me.
> 
> Is 3.5 the usual density, or does it come out in the results somewhere?



I think this 3.5 factor need more confirmation somehow


----------



## mmmmining (14 March 2007)

A lot of posting here today.    Kennas vs   ERN Camp!   

Finally, we have some historic drilling results. I think the result is excellent, particular the width, average about 25m! Just for comparison, ACB's average width is about 4m.

I went through a few documents, and found Halba's 11mlb estimate is good. With $48m full diluted market cap, and $4m cash, the stock is cheap.

With a lot of upsides, such as:
Area 2,3,4 in EPL3454,
EPL3453 (very hot)and
ELP3523

I believe the company is targeting 50mlb resources through further exploration effort.

So there is a lot of upside with this stock, and I top up some today, and will keep buying it if price falls further.


----------



## Sean K (14 March 2007)

mmmmining said:
			
		

> A lot of posting here today.    Kennas vs   ERN Camp!



LOL. I hope we got some analysis out of it anyway.   Appologies to those who have spent a lot of time on the analysis that I haven't seen before. All the best with this. It's on the watch list for when the market bottoms at 5450 ish. Or, 2000 if you're in WayneLs camp...  .


----------



## captjohn (14 March 2007)

I'm newish to ASF & see on posts the letters" LOL"..latest being from Kennas......
somehow I don't think it means "Lots Of Love ".....  considering   this mornings  episodes with Halba & Chris...

So what does it mean??.....thanx in advance
captjohn


----------



## Mousie (14 March 2007)

Looks like someone (moderators, maybe?) better post regularly used acronyms on one of the forums.  : 

captjohn, LOL = laughing out loud


----------



## captjohn (14 March 2007)

Mousie said:
			
		

> Looks like someone (moderators, maybe?) better post regularly used acronyms on one of the forums.  :
> 
> captjohn, LOL = laughing out loud



Thanx Mousie,
Maybe a few of the "long termers"on ASF could  list (one day)all the Acronyms they use  !  captjohn


----------



## Halba (14 March 2007)

Considering that it has 11mil pounds likely at this starting point, the EV/lb is about $4 as its full diluted mkt cap is around $40m less cash. This itself is very low.


----------



## chris1983 (14 March 2007)

Halba said:
			
		

> Considering that it has 11mil pounds likely at this starting point, the EV/lb is about $4 as its full diluted mkt cap is around $40m less cash. This itself is very low.




I'm extremely happy with erongo.  The message just puts my mind at ease. All the accumulation I have made due to my speculation has been confirmed.  I dont believe erongo will stay at these levels.  Management have moved effectively and fast.

I'm happy that drilling is to start so soon as it is usually quite time consuming securing a drill rig in Namibia and they have done it very speedily.  Would be good to know we have 3 or 4 drillrigs running but they have to start somewhere.  Maybe when the SP has further increases they will raise more funds to put forward a more aggressive campaign.  I dont think theres any rush to raise funds just yet.  They have enough funds to keep going and will raise more money once the SP is at higher prices.

Thats how Bannerman have gone about their business.  Not much dilution to the SP could ever hit BMN.  I'm hoping Erongo build themselves up to be in a position similar to BMN.  All the best guys.  I think BMN and ERN are the best plays atm.  Not many shares on issue and great prospects.  Extract will soon come into the mix once they have their share consolidation and I'll probably have a holding in them also.


----------



## Halba (14 March 2007)

EXT mkt cap about 150million(167mil shares)

ERN mkt cap fully diluted 45million

Mkt is not stupid. It's only down 2cents on a 100point down day.


----------



## chris1983 (14 March 2007)

Halba said:
			
		

> Considering that it has 11mil pounds likely at this starting point, the EV/lb is about $4 as its full diluted mkt cap is around $40m less cash. This itself is very low.




That looks right to me Halba.

length by width by thickness(depth) is easier for me to understand.

800 x 250 x 35

= 7,000,000 Cubic Meters

2.4 tonnes per cubic meter.

= 16,800,000 tonnes

Say we use an average grade of 250 ppm.

This will give us

4,200 tonnes of uranium which is just over 9 million pounds.  Pretty close to your estimates Halba.  This is a great start for an explorer.  Exactly the news they were looking for to get them kick started.  SP held up very well today and based off the calculations there is no way I'm selling these any time soon.  They have too many prospects on their licenses.  I think once the granting of EPLs kick off again in Namibia they will also get the fifth license which also has a historic resource.  Erongo are looking good.

Uranium spot is $90 and this will continue to increase.  Uranium is the new energy.  Companies like erongo will still have the opportunities to take advantage of uranium prices.  Its only the beginning IMO.


----------



## Halba (14 March 2007)

I'm getting stabbed to death on my zinc sector ZFX, I am thinking of redirecting these into ERN.

Whats the point losing in those when ERN might do the job/come up trumps in the long run, just needs the drill program next month.

10,000m - thats enuff for plenty of holes.

They got years and they have excellent projects in this boom.

It seems the U stock is the new "defence".


----------



## chris1983 (14 March 2007)

I almost topped up again today in the low 60's but I didnt.  I felt I have enough..sometimes its never enough.  I just feel very strongly that the SP will perform positively for us in the future.


----------



## Halba (14 March 2007)

peer comparison

"AFRICAN U"

DYL mkt cap 400million

EXT mkt cap 165m

BMN 350mil

PDN 4500m

Uramin 1450m

Forsys 550m

A-cap - 175m

Uranex - 130m

MRU 40mil

Omegacorp(taken over, 13mil pounds) - 180million

EVE - 60million, African energy spinoff 56million

ERN >> only 45 million


----------



## Go Nuke (14 March 2007)

chris1983 said:
			
		

> I almost topped up again today in the low 60's but I didnt.  I felt I have enough..sometimes its never enough.  I just feel very strongly that the SP will perform positively for us in the future.





Haha Chris....I know the feeling!
I was soo close to buying more too.....but held off...for now!
Im thinking of diversifying just a little and looking at ARU maybe.Or maybe WMT.


----------



## Sean K (15 March 2007)

Halba and Chris, I'm trying to work out the best way to make a guestimate of in ground resource but I have two methods here:



			
				Halba said:
			
		

> 800*250*3.5*30m thick*0.025% = roughly 5200t
> 
> 5200*2200 = 11.5million pounds






			
				chris1983 said:
			
		

> length by width by thickness(depth) is easier for me to understand.
> 
> 800 x 250 x 35
> 
> ...




Can you guys explain the anomoly here?

Anyone have another way of calculating in ground resource??   

Cheers.


----------



## chris1983 (15 March 2007)

Hey Kennas I have always gone by my method when calculating tonnage and resource etc so I'm not really sure.

Halba whats the 3.5?  I know you said it was drill density..how does it work into the equation for tonnage.

Thanks


----------



## mmmmining (15 March 2007)

I quote:

"The anomalous areas are underlan by white to pinkish *granite* of the Erongo Complex."

The density of granite is about 2.7 to 2.9....

Anyway, we are not geologist, and the methods used by Chris and Halba is extremely on the upside (assuming uniform mineral distribution in a box). But it does give a target for speculation. 

I still believe 11mlb for the area is possible, particularly the possibility of extension to the south...


----------



## chris1983 (15 March 2007)

mmmmining said:
			
		

> I quote:
> 
> "The anomalous areas are underlan by white to pinkish *granite* of the Erongo Complex."
> 
> ...




Definately looks promising.  I feel a lot safer with my money in the stock now.  The level of speculation isn't as high for me anymore.  I'm happy just knowing that we have a confirmed resource onboard even though they havn't given any specific values for the resource estimate. You can pretty much work it out with the numbers they have provided. Hopefully we will have two historic resources once the granting of epl's commence but for now ERN are becoming a strong speculative play.


----------



## Reefer (15 March 2007)

MiningNews.net have just posted their offering on Erongo - be interesting to read their analysis if anybody subscribes


----------



## chris1983 (15 March 2007)

Taken from Hotcopper - Supplied by ryderman

_REVIEW of historical exploration data by Goldfields and Falconbridge has boosted Erongo Energy's confidence following the confirmation of the potential for a large tonnage and extractable deposits of uranium at its namesake yellowcake project in Namibia.

Erongo said it had finished reviewing and interpreting the historical data in three areas at its Erongo Granites project in central Namibia, which covers some 420 square kilometres. 

Drilling results by both Goldfields and Falconbridge in Area 1 include 39m at 272 parts per million uranium oxide from 2m, 33m at 248ppm uranium oxide from 13m and 32m at 348ppm uranium oxide from 6m.

Erongo said drill results exceeding 200ppm uranium oxide were intersected in holes covering an area of 800m by 250m and remains open to the south for "potential" further 800m. 

Over at Area 2, Erongo said two significant untested radiometric anomalies have been identified, while at Area 3, a ground radiometric and Radon gas survey identified an anomalous target area of 5000m by 2000m. 

The company plans to start an initial 10,000m reverse circulation drilling program at the project next month. 

Goldfields and Falconbridge conducted their exploration work in the 1970s and early 1980s, with no exploration undertaken since then. 

Erongo formerly traded as Louisiana Petroleum before a name change in November last year. 

Shares in Erongo closed down 1.5c to 65.5c yesterday on the back of the news as the company came out of a trading halt and have since shed 2.5c to 63c by midday today.

Click here to read the rest of today's news stories._


----------



## chris1983 (15 March 2007)

Just some media attention.


----------



## aobed (15 March 2007)

chris1983 said:
			
		

> Definately looks promising.  I feel a lot safer with my money in the stock now.  The level of speculation isn't as high for me anymore.  I'm happy just knowing that we have a confirmed resource onboard even though they havn't given any specific values for the resource estimate. You can pretty much work it out with the numbers they have provided. Hopefully we will have two historic resources once the granting of epl's commence but for now ERN are becoming a strong speculative play.




I must say that I was expecting the share price to move into positive territory today.  I'm also quite happy on the longer term horizon.  Good work Chris1983 on your analysis - appreciated by the lurkers of this forum that don't post very often!


----------



## sydney1963 (15 March 2007)

aobed said:
			
		

> I must say that I was expecting the share price to move into positive territory today.  I'm also quite happy on the longer term horizon.  Good work Chris1983 on your analysis - appreciated by the lurkers of this forum that don't post very often!



thankx chris


----------



## chris1983 (15 March 2007)

guys..SP hasnt gone up much yet..

I do appreciate your thanks though..it could still retrace a bit but I think support at 60 cents should hold.  I just hope this company is another 10 bagger for all of us.  I think it has a good chance at doing that.

It's fair to say we were pretty spot on with picking one of the last emerging Australian uranium explorers in Namibia that has a very small market cap and great prospects.  I think we will see the rewards sooner rather than later.  Good luck to holders.  I dont think luck is needed though


----------



## nizar (15 March 2007)

chris1983 said:
			
		

> guys..SP hasnt gone up much yet..
> 
> I do appreciate your thanks though..it could still retrace a bit but I think support at 60 cents should hold.  I just hope this company is another 10 bagger for all of us.  I think it has a good chance at doing that.
> 
> It's fair to say we were pretty spot on with picking one of the last emerging Australian uranium explorers in Namibia that has a very small market cap and great prospects.  I think we will see the rewards sooner rather than later.  Good luck to holders.  I dont think luck is needed though





You know Chris i really thought OMC was going to be a 10 bagger from $50mill to $500m when it produces, but those stupid directors....   

All the best.


----------



## aobed (15 March 2007)

chris1983 said:
			
		

> guys..SP hasnt gone up much yet..
> 
> I do appreciate your thanks though..it could still retrace a bit but I think support at 60 cents should hold.  I just hope this company is another 10 bagger for all of us.  I think it has a good chance at doing that.
> 
> It's fair to say we were pretty spot on with picking one of the last emerging Australian uranium explorers in Namibia that has a very small market cap and great prospects.  I think we will see the rewards sooner rather than later.  Good luck to holders.  I dont think luck is needed though




I'm not sure about 10 bagger, but if it is I will personally fly to whichever state you're in and buy you a beer (or fav. drink).


----------



## chris1983 (15 March 2007)

nizar said:
			
		

> You know Chris i really thought OMC was going to be a 10 bagger from $50mill to $500m when it produces, but those stupid directors....
> 
> All the best.




I was going to buy OMC.  The directors shafted the shareholders hard.


----------



## chris1983 (15 March 2007)

aobed said:
			
		

> I'm not sure about 10 bagger, but if it is I will personally fly to whichever state you're in and buy you a beer (or fav. drink).




Maybe I'm aiming to high.  A 5 bagger to start with  lol


----------



## Go Nuke (19 March 2007)

Wow...not many trading in this stock at ALL!!
Are we all too smart and are just holding on for that big ann?? Or is the market still to volitile for some?

Only 9.1k shares traded today!

Like BMN.....not alot of movement yet. But thats ok...Im learning patients


----------



## Halba (19 March 2007)

Yep this is a clone to BMN. Identical stock except 1/8 of the mkt cap, similar trading profile, and moves 2-3 times per year and rest is zzzzzz


----------



## chris1983 (20 March 2007)

UraniumLover said:
			
		

> *ramp removed*




They definately are movers..and I made money out of WMT..but..how much more will they move and what upside is left in them.  I have always liked ACB since 80 cents but never got in.  ERN is one that hasnt really moved yet and if it got close to the markets caps of either of those two picks we would be valuing ERN at around $1.10-1.60.  Percentage wise I think ERN will give greater gains than both of those picks by the end of the year.  Just my guess.

ERN's fully diluted market cap is *46 million dollars with 4 million cash at bank* and the oppies would bring an additional *7.5 million* because they will be in the money.  

ERN share on issue are as follows

*ERN- 39,104,310
ERNO- 37,515,689*

WMT have a *112 million dollar market cap* with *442 million* shares on issue.  They currently have 5 million at bank as stated on their last report.

ACB have just under *110 million shares on issue* and have a market cap of *189 million*.  They have just raised money though and have *18 million* at bank I think..so they have money to last them for quite some time. ACB are definately looking good with their historic resource and large land coverage in Botswana.

What you have to assess is which company will give you the greater % gains.  See 100% gains as follows:

_ACB running to *$3.44 = 100% gain*.  Would make the market cap as an explorer 378 million_

_WMT running to *51 cents = 100% gain*.  Would make the market cap as an explorer 225 million_

Or Erongo which currently has a 9 million pound historic resource based off our figures *(NOT an analysts figures but our own..see previous posts)*..with proven uranium on their epl's in Namibia.  Which look to be at economic grades.  Currently 4 epls in Namibia which are highly sort after.

ERN running to *1.20 = fully diluted market cap of 92 million*.  My bets are on erongo..the gains could go well higher than 100%

Personally for % gains I would be going for erongo at this stage.  I think they are behind a little bit as an explorer but they will only progress their operations and its only a matter of time IMO before it shows in the SP.


----------



## Halba (20 March 2007)

Also note WMT hasn't even got a drill program running.

ACB is not going to meet their historical resource- average thickness was only 1m to 2m(needs 15m to reach), and in many zones no uranium mineral at all(not all holes hit mineral). ERN's average thickness was 35 m looking at the historicals. ERN has a better resource than both, and is only 2nd to bannerman on the ASX, for foreign deposits, IMHO.

Also chris points out higher % gain. Importantly as these are riskier investments, the high % potential gain compensates for the risk in ERN.


----------



## mmmmining (20 March 2007)

Halba, your PM is full. I try to send you a PM


----------



## Sean K (20 March 2007)

Halba said:
			
		

> Also note WMT hasn't even got a drill program running....ERN's average thickness was 35 m looking at the historicals. ....and is only 2nd to bannerman on the ASX.



ERN haven't started drilling either. They're scheduled to start in April....thickness of historical drilling is 25-35m thick....second to BMN on what? Historical data? Your estimates? Neither have a JORC yet.   

Not downramping, of course, presenting the facts.


----------



## Halba (20 March 2007)

Whats wrong with historical drilling? Are you doubting the credentials of goldfields who did the drilling? What would that result in?

I don't see WMT having a historical drill kennas.


----------



## Sean K (20 March 2007)

Halba said:
			
		

> Whats wrong with historical drilling?



Fair enough, I thought you were implying that ERN were drilling. They haven't drilled anything yet but are scheduled to.


----------



## UraniumLover (20 March 2007)

chris1983 said:
			
		

> They definately are movers..and I made money out of WMT..but..how much more will they move and what upside is left in them.  I have always liked ACB since 80 cents but never got in.  ERN is one that hasnt really moved yet and if it got close to the markets caps of either of those two picks we would be valuing ERN at around $1.10-1.60.  Percentage wise I think ERN will give greater gains than both of those picks by the end of the year.  Just my guess.
> 
> ERN's fully diluted market cap is *46 million dollars with 4 million cash at bank* and the oppies would bring an additional *7.5 million* because they will be in the money.
> 
> ...



This is all sounds logical and i was never trying to vamp WMT or ACB.
All I was trying to say is mr market 'currently' likes ACB & WMT more which is reflected by current share price increase. I never said ERN won't go up in the near future. At the end of the day it's what the market thinks and it's not always logical.


----------



## chris1983 (20 March 2007)

UraniumLover said:
			
		

> This is all sounds logical and i was never trying to vamp WMT or ACB.
> All I was trying to say is mr market 'currently' likes ACB & WMT more which is reflected by current share price increase. I never said ERN won't go up in the near future. At the end of the day it's what the market thinks and it's not always logical.




Yeah well I didnt mind what you typed but in Joes eyes it went against the rules.  Gave me something to write about .  ERN continues to fall on low volume though.  If anyone wants to accumulate a decent holding its extremely hard not to push up the price.


----------



## Halba (20 March 2007)

lol uranium lover this ern needs some lovin!! lol


----------



## Go Nuke (20 March 2007)

Gee right at the last seconds, ERN and BMN came back to finish on 0% change from a negative.

 :whip Go you good thing!

(Edit) BMN up 0.39%!


----------



## chris1983 (20 March 2007)

hmm..I think your going a little overboard Kennas..you think what I said was a ramp by saying it could easily be back at 60 cents tomorrow?  It has only dropped off on low volume and if anyone wanted a decent holding its going to push up.  Its not like its getting smashed downwards.  It actually finished at 60.

I think if someone said we could see 80 cents next week!  Now thats a ramp because its based off no facts.  My little comment is based off facts.

_SP dropped on low volume.
Large buyers have been accumulating on the falls
No downwards movement has been seen with large volume_

If you have been following ERN every little retrace has seen bigger buyers moving in for their opportunity to accumulate.  There is no ramp by saying it could easily be 60 cents tomorrow if a large buyer wanted to accumulate.


----------



## UraniumLover (20 March 2007)

Halba said:
			
		

> lol uranium lover this ern needs some lovin!! lol



: Sure does. Nothing better than a U junior that has potential.


----------



## Sean K (20 March 2007)

chris1983 said:
			
		

> hmm..I think your going a little overboard Kennas..you think what I said was a ramp by saying it could easily be back at 60 cents tomorrow?



The doji today suggests a turn about, so maybe.

I'm laying my cards on the table and I reckon it's going to go down. I'm relying on the US housing data to come in at expectations, which will be bad for the market. Worst than expected and  :fan 

General market conditions don't always effect all stocks, but that's my call. I may be the one with  :fan on my face tomorrow, but I'm happy to be proved wrong. 

I'm a big fan of AGM. Resource looks sure to be expanded, Ni going on to all time highs (agree there will be a correction soon though).

Just out of interest, what's the general perception of what happens to a company when it starts production? Is all the good news factored into the sp, or does it get a boost? My perception is that stocks get sold off a bit.   Other thoughts?


----------



## constable (20 March 2007)

kennas said:
			
		

> The doji today suggests a turn about, so maybe.
> 
> I'm laying my cards on the table and I reckon it's going to go down. I'm relying on the US housing data to come in at expectations, which will be bad for the market. Worst than expected and  :fan
> 
> ...



INL is a good example of short lived production euphoria! (Although different resource)


----------



## Halba (21 March 2007)

Kennas wrong again. Housing data was positive. What does housing got to do with ERN?


----------



## Sean K (21 March 2007)

kennas said:
			
		

> I'm relying on the US housing data to come in at expectations, which will be bad for the market. Worst than expected and  :fan
> 
> General market conditions don't always effect all stocks, but that's my call. I may be the one with  :fan on my face tomorrow, but I'm happy to be proved wrong.



Yep, dead wrong again. 

Halba, the explanation of why it would have been bad for ERN and the rest of the market is there. Don't you agree that when the market tanks, just about every stock is effected no matter what industry? Or, have you already forgotten 28 Feb 07? I'm sure you haven't.


----------



## Halba (21 March 2007)

Kennas they might tank, but its only short term.

If the company does well(either through their resource for example) it will do well.

In this case the housing mkt did better than expected, and Dow notched up the biggest 2 day gain for nearly 1 year.

And yes I've forgotten 28 feb completely. Long gone now, looks like markets have recovered and stocks will recover accordingly.


----------



## chris1983 (21 March 2007)

kennas said:
			
		

> Chris see your PM box. This thread has got off track and I'm trying to clean it up.




It was never off track to begin with. I think others should be able to see what you classify as a ramp or not. They will keep seeing you cleaning my messages out and start to think "ohh hes a ramper" discrediting my posts. When in fact your the one made to look a little silly. You can delete this post but think about that when your done cleaning it out.

Saying a stock could easily be back at 60..because it dropped 3 cents on 100k volume is not a ramp. Im referring to the volume traded in the stock. It finished at 60 at the end of the day! Confirmed exactly what I was saying.You might as well remove every other persons price target when it breaks out on the charts if your going to start pulling me up for saying what I said.


----------



## Sean K (21 March 2007)

chris1983 said:
			
		

> It was never off track to begin with.  I think others should be able to see what you classify as a ramp or not.  They will keep seeing you cleaning my messages out and start to think "ohh hes a ramper" discrediting my posts.  When in fact your the one made to look a little silly.  You can delete this post but think about that when your done cleaning it out.
> 
> Saying a stock could easily be back at 60..because it dropped 3 cents on 100k volume is not a ramp.  Im referring to the volume traded in the stock.  It finished at 60 at the end of the day! Confirmed exactly what I was saying.You might as well remove every other persons price target when it breaks out on the charts if your going to start pulling me up for saying what I said.



Chris, I will keep removing price predictions with no technical or fundamental analysis. What I saw did not warrant any price prediction.


----------



## chris1983 (21 March 2007)

Kennas I was referring to the volume traded in the stock..and yes ERN has been trading up and down..up and down in between the range of 57-63 a number of times.  This happens when ever someone wants a large holding because there just is never enough shares up for sale.  It also falls because buyers are waiting for the dips and are waiting on the sidelines.  There has been no huge selldowns.  See my post below.  60 is actually the point at which funds were raised.  Please find real rampers.



			
				chris1983 said:
			
		

> hmm..I think your going a little overboard Kennas..you think what I said was a ramp by saying it could easily be back at 60 cents tomorrow?  It has only dropped off on low volume and if anyone wanted a decent holding its going to push up.  Its not like its getting smashed downwards.  It actually finished at 60.
> 
> I think if someone said we could see 80 cents next week!  Now thats a ramp because its based off no facts.  My little comment is based off facts.
> 
> ...


----------



## UraniumLover (22 March 2007)

chris1983 said:
			
		

> Kennas I was referring to the volume traded in the stock..and yes ERN has been trading up and down..up and down in between the range of 57-63 a number of times.  This happens when ever someone wants a large holding because there just is never enough shares up for sale.  It also falls because buyers are waiting for the dips and are waiting on the sidelines.  There has been no huge selldowns.  See my post below.  60 is actually the point at which funds were raised.  Please find real rampers.




I was finally convinced to buy this one today as has good support levels around 55 cents. The way I see it more upside than downside with Jap market up for tomorrows trade. Plus hasn't run like some of the others like ACB.


----------



## Go Nuke (26 March 2007)

C'mon ERN...breakout like your U brothers and get through that 60c resistance dam you!:horse: 

LOL


----------



## Halba (26 March 2007)

Hi. Yes this one has stayed steady throughout and I thoroughly agree with your picture. A picture tells a thousand words:

:enforcer: :whip <<ERN


----------



## Go Nuke (26 March 2007)

LOL Halba


----------



## Go Nuke (26 March 2007)

Guys I have a question (probably 1 for Kennas with his graphs)...

Im looking at the ERN chart and Ive noticed that the MACD is getting close to the "0" line. Now the way I understand it, this can be used for a guide for indicating upwards or downwards momentum.

If it crosses the "0" line into the negative, does it indicate a bad thing?

I suppose in a bit of laymans terms...when it starts to go up again...thats good for us! 
The other thing I struggle to understand is the Stochastic Daily. No matter how much i look at that or try to study it..it doesn't make a whole lot of sence, so i generally ignore it..lol.

Im using Investopedia for my learning.
Thx guys


----------



## Sean K (26 March 2007)

Go Nuke said:


> Im looking at the ERN chart and Ive noticed that the MACD is getting close to the "0" line. Now the way I understand it, this can be used for a guide for indicating upwards or downwards momentum.
> 
> If it crosses the "0" line into the negative, does it indicate a bad thing?
> 
> ...



Yes, on the MACD point. Going up through the zero line is bullish, down bearish.

Not sure about stochastics daily. Don't you mean slow or fast stochastics...??


----------



## Go Nuke (26 March 2007)

So that would mean that ERN is borderline going bearish
Unless maybe an ann saves the day.

Bollinger bands look good though...somethings got to change there soon.

And by Stochastic, im just going off my Incredible Chart which says. Stochastic Daily 7 3 Simple.

For example SMM is about to hit 100....so does that indicate that the SP will fall soon?

Thx


----------



## chris1983 (26 March 2007)

Go Nuke said:


> So that would mean that ERN is borderline going bearish
> Unless maybe an ann saves the day.
> 
> And by Stochastic, im just going off my Incredible Chart which says. Stochastic Daily 7 3 Simple.
> ...




Bearish? hmm..why do you guys panic so much.  This is an easy investment.  They are in the earlier stages of a uranium exploration company.  They also have an historic resource.  What do you think is going to happen when the redrill that resource..look what happened with BMN and ACB.  BMN's resource is looking a lot larger but investors like myself worked out the potential size of the resource for both BMN and ERN.

ERN are in the same category.  I actually dont want them to go up yet.  I'm going to top up if I can get some more gains from FXR.


----------



## Sean K (26 March 2007)

Go Nuke said:


> So that would mean that ERN is borderline going bearish
> Unless maybe an ann saves the day.
> 
> Bollinger bands look good though...somethings got to change there soon.
> ...



Bearish is mearly a term to describe the state of the sp. Replace it with negative if you like. I don't have it going through on my chart anyway. 

From stochcharts:

*Bearish Signals*
MACD generates bearish signals from three main sources. These signals are mirror reflections of the bullish signals: 

Negative Divergence
Bearish Moving Average Crossover
Bearish Centerline Crossover

*Bearish Centerline Crossover*
A Bearish Centerline Crossover occurs when MACD moves below zero and into negative territory. This is a clear indication that momentum has changed from positive to negative, or from bullish to bearish. The centerline crossover can act as an independent signal, or confirm a prior signal such as a moving average crossover or negative divergence. Once MACD crosses into negative territory, momentum, at least for the short term, has turned bearish. 

As far as stochastics go, that looks like a slow stochastic. 100 is an overbought sign. 80 is overbought actually. However, this isn't necessarily bearish. Lane, who invented it, says that a security can continue to rise after the Stochastic has reached 80 and continue to fall after the Stochastic Oscillator has reached 20. He believed that some of the best signals occurred when the oscillator moved from overbought territory back below 80 and from oversold territory back above 20.


----------



## Halba (26 March 2007)

Go Nuke you ARE looking into this too much. Get off the screens and let the mngmt of ERN do the work for you. Thats what they are paid for! I understand you are relatively new at this but stochastics, MACDs mean jack all with these small caps!

Trust me this will come with experience.



> Goldfields reported mineralisation in a broadly flat undulating zone 25m to 35m thick which could be
> 
> traced through most of the holes. U3O8 mineralisation estimated to be above 200ppm was intersected in
> 
> ...


----------



## Go Nuke (26 March 2007)

No No Halba...Im not reading into charts too much.
Im just trying to learn what they all might mean.
Ive bought my shares..Im just sitting back and enjoying the show now. Not thinking of selling (and have no money for buying more)

Its just curiousity.
The MACD is the only one that a pay a small attention to. Oh..and Volume.
Just asking questions and learning

Appreciate the feedback guys. thx.
No if only my maths was as good as yours Halbalol


----------



## Halba (26 March 2007)

Yep as you can tell most of my investment is made on pure math/fundamental analysis/number crunching and forecasting. If it aint got any fundamentals I usually don't go in. cheers.


----------



## Go Nuke (27 March 2007)

ERN's volume is picking up..but Im still not convinced that it will stay above 60c.
I drew a resistance line at around 62c and 66c. If it gets up above that and stays up there..then i will be happy!


----------



## Halba (27 March 2007)

It will go under 60c again, whenever the Dow falls. Until drilling commences it won't break, but as people know its a bargain 55-60c is a good accumulation.


----------



## Go Nuke (27 March 2007)

Hmm, I was just looking at the radiometric maps for area 1 and 2 for Erongo in the Damara province and they have a comparison to Langer and Rossing mines next to their map as a comparison.

Now the problem is, you dont know how much they have zoomed in on the picture..SO it makes it look like a HUGE deposit in comparison!

Would I be right in thinking this? That they have zoomed in.

http://www.erongoenergy.com.au/files/announcements/RM Research Pty Ltd.pdf


----------



## Sanhedrin (27 March 2007)

Looks like same scale to me 25km grid


----------



## Go Nuke (27 March 2007)

Halba said:


> It will go under 60c again, whenever the Dow falls. Until drilling commences it won't break, but as people know its a bargain 55-60c is a good accumulation.




If Mr DOW falls again.......Im going to buy him a walking frame!:cwm10:


----------



## Go Nuke (27 March 2007)

Sanhedrin said:


> Looks like same scale to me 25km grid




So what am i missing...because that looks pretty bloody big to me!
Guess it doesn't tell u how much U there is % wise


----------



## Halba (27 March 2007)

Hi this is my own research.

ERONGO ENERGY ( ASX: ERN)

Erongo(ERN) is one of few uranium explorers in namibia. They have 4 tenements and 1 application in the proven Erongo province which contains Rossing a 4000tpa/yr mine.

It is targeting granite style uranium mineralisation. So far it has undertaken radiometric reprocessing and a desktop study incorporating historical data to better define drill targets and determine likely resource tonnages. The anomalies are very large, and are similar in scale to Rossing. The company’s conservative and experienced management all have extensive experience in African conditions, hence this will assist in the long term. Klaus eckhoff has good connections in Namibia. The management indicate that the tonnage potential is “large” at a low average grade. 

Now on to the Erongo granites project, EPL 3454 (90% owned) that is the target of the upcoming drill program due to start in early April. Please refer to the map as in the presentation.

*Area 1  - Currently we know that 68 holes were drilled and two Diamond holes were also drilled. The picture of the diamond hole was attached in the previous quarterly reports and showed several zones of mineralisation. The percussion holes have considerably de-risked Erongo as it shows good 30m+ hits of uranium at some good grades, almost up to 350ppm. Remember historical grades can be upgraded, as historical equipment was not as reliable.

 Moreover the company has described the zone as “25 to 35m thick” over an area of 800m by 250m and “potentially open for another 800m”. This suggests Area 1 resource is likely to be 800m by (250+800m) = 800m by 1050m. 

The potential resource is thus 800m * 1050m * 3(Specific gravity) * 30m(average thickness- see historical drills) =  75mT from one area. The average grade will be conservatively 280-300ppm, say 280ppm which can be upgraded through modern drilling, but there is no guarantee. 

75mT @ 0.028% =  21,000T contained u308. 

in pounds = 21,000 * 2204 = 46,000,000

Note this Area 1 will be the main focus of the first 10,000m drill program, and the market has only priced in Area 1 into Erongo’s share price. I believe Klaus Eckhoff (consultant and shareholder of the company) has used his connections to source a drill rig-, which are extremely hard to find in this mining boom.

Importantly most of Area 1 hits are from surface and will prove extremely easy and low cost to mine. 

Area 3 – 

this is the 2nd priority area as per the reports. This potential here cannot be underestimated. The Radon Gas anomaly. Taken from Google “The presence of radon gas indicates a uranium ore body may be in the vicinity.” This area has not been effectively drill tested as all the holes kept caving. The potential tonnage of this area is extremely large considering the size of the anomaly: about 5000m by 2000m 6m thick * 3 (“a flat lying zone approx 6 m thick was identified”)

Area 3(potential) = 5000 *2000 * 3 * 6 = 180mT of mineralisation. 

Area 2- 

Good mineralisation has already been annotated and intercepted in 3 holes, and this fact itself suggests uranium mineral is present throughout the EPL, not just in Area 1. The probabilities of discovering other potential ore bodies are high. Supposing this is in the same style as Area 1, the tonnage itself is also large and could be bigger. The presentation highlights radiometric targets 1.5m by 1km, and another south of Area 2 4km by 0.5km. In short these anomalies are bigger in size than Area 1 (which was only 800m by 1050m and potentially 75mT).

Valuation and Peer comparisons

Erongo has 41.8 million shares on issue and 37.5 m options on issue. Therefore its fully diluted market cap is 47million dollars which is extremely low considering the potential. Erongo is therefore highly leveraged to any additional discoveries through their drill program and any upside in future drill programs. 

Now other uranium companies based in Namibia generally command a premium. This is because the ease at which one can transition from explorer to producer. Namibia is the most friendly to uranium producers because of the lack of a strict approvals process. Hence it is uncommon to see $10/lb EV/lb valuations for Namibian upcoming producers, it normally closer to $20/lb. 


*Uramin (TSX listed UMN). Market capitalisation 1500m AUD equivalent. Their primary project is the Trekkopje project(which is mainly what they are valued on). Trekkopje is a very low grade project. From its feasibility report: “Resources in the Measured and Indicated category increase over 200 per cent to 46.5 million lbs at an average grade of 146ppm U308 (using a cut-off of 100ppm):”

Sure Uramin has a lot of other projects, but its being valued on this primary project. Its average grade is only 140ppm and tonnage is about 190mT. So you can see that Erongo compares favourably with Uramin as it won’t have to process as much rock to produce uranium yellowcake. Erongo’s market cap is only about 45million. 

*Forsys Metals (TSX listed FSY). Market capitalisation 1000m AUD equivalent. Forsys’s main project is the Valencia project. It has about 42million contained pounds, the average grade is only 200ppm and its not all at surface(some mineral deeper than 50m). A rumoured resource upgrade to only 50 million pounds has underpinned a share price increase from $7 to $10. It has other EPLs but by and large their main project is the 50million pounder @ Valencia. This just shows how even 50million pounds in Namibia justifies an over $1bn dollar valuation. 

* Paladin resources (PDN) – Market capitalisation 5000m AUD equivalent. As we all know Langer heinrich makes up most of this valuation, about 3000m+ AUD in fact. it has a 100mT deposit at about 600ppm average grade or 60,000t or about 130million pounds at Langer heinrich.

* Deep yellow (DYL) – Market capitalisation 400 million.  They have some QLD projects as well, but these have no resource estimates. They have about 50 million pounds of low grade uranium in Namibia but it is scattered throughout the country hence is not economic yet to process.

*Bannerman Resources(BMN) – Market capitalisation $400m. Indeed a potentially stunning resource they are sitting on at Goanikontes (another Rossing)– estimates range from 50 million pounds to over 200million pounds. It is still arguably undervalued at these levels.

* Extract Resources (EXT) – Market capital $169M. EXT does not have a resource, but have good quality tenements and some good historical drills at surface (alaskite style) similar to ERN. However the capitalisation gap between EXT and ERN is unjustified. Arguably ERN has better management and EXT management has so far gone slowly and is highly questionable.

*A-Cap resources (ACB) – whilst not in Namibia it is another African play based in Botswana. Their market cap is over $210M, and does not have any JORC resources and is an explorer like ERN. The market cap difference between ACB and ERN is unjustified.

*Xemplar Energy(TSX XE) – Market cap over $200m AUD dollars. Has a small 15mT resource at 0.03%, and numerous other high potential tenements similar in potential to Erongo. Again the price and market cap gap is unjustified as XE is mainly an explorer. 

*Omegacorp (OMC) – Had an inferred resource of only 13 million pounds based in Zambia. Is in the process of getting taken over by Denison Mines for $180m dollars.  So even a small jorc in a good jurisdiction (anywhere in Africa) will be valued extremely high. Ev/lb of this transaction is $14/lb on inferred resources.

CONCLUSION
ERN is one of the best value pure play uranium stocks not only on the Australian market, but in the world. A mere confirmation that the tonnage could exceed 100mT will act as a catalyst to possible extreme price gains. This is because the lead time to production in Namibia is extremely short. I am wary of Australian explorers as we won’t see production for several years due to red tape. Uranium price is increasing rapidly and at an exponential rate. The price gap between ERN($45m mkt cap) and others is unjustified and will likely close once we get good drills from their drill program, confirming possibly 50million pounds+ potential. Just at Area 1, its potential resources is close to Forsys Metals(which has a 1billion dollar market cap). ERN has over 100mT> potential, and the management’s comment that it has large tonnage potential is spot on.

Management have indicated they intend to keep the share structure tight to ensure leverage. Bear in mind ERN own 90% of these tenements ensuring good leverage and this is higher than BMN’s 80% owned.


----------



## Go Nuke (27 March 2007)

WOW Halba...I dont know what else to say..but thanks!! 

I'd comment more..but if i dont get ready for dinner...the Ms will kill me (inlaws almost tonight)


----------



## mmmmining (27 March 2007)

Halba said:


> CONCLUSION
> ERN is one of the best value pure play uranium stocks not only on the Australian market, but in the world. A mere confirmation that the tonnage could exceed 100mT will act as a catalyst to possible extreme price gains. This is because the lead time to production in Namibia is extremely short. I am wary of Australian explorers as we won’t see production for several years due to red tape. Uranium price is increasing rapidly and at an exponential rate. The price gap between ERN($45m mkt cap) and others is unjustified and will likely close once we get good drills from their drill program, confirming possibly 50million pounds+ potential. Just at Area 1, its potential resources is close to Forsys Metals(which has a 1billion dollar market cap). ERN has over 100mT> potential, and the management’s comment that it has large tonnage potential is spot on.
> 
> Management have indicated they intend to keep the share structure tight to ensure leverage. Bear in mind ERN own 90% of these tenements ensuring good leverage and this is higher than BMN’s 80% owned.




Chris, you are fired. I have got Halba now. You made me "the first million", now I need Halba to make the second.


----------



## Halba (27 March 2007)

Haha thanks for your encouragement mmmining. Take it easy.


----------



## chris1983 (27 March 2007)

mmmmining said:


> Chris, you are fired. I have got Halba now. You made me "the first million", now I need Halba to make the second.




haha.  Nice work Halba.  You can fire me .  I dont need to do anymore analysis anymore because Halba can do it..saves me some time.  Ive been on both BMN and ERN from the beginning and  hope everyone jumping on now continues to see the profits role in..I think they will.  Its only a matter of time IMO before ERN will move.  I'm happy to just sit on them for now.  Looking to top up when CFE make me some more cash.


----------



## captjohn (27 March 2007)

Been out for the arvo & just read Halba's analysis,,,,

Congrats ,excellent  & all makes good sense.....the low number of shares on issue is a big plus.....intially liquidity may be  a problem  but who wants to sell out early with potential resources like that !!!

I'll certainly be buying more ERN ......thankyou Halba....well done !

Great article today on FN Arena regarding the increasing number of Uranium explorers.....warning & emphasising that most will never find or produce anything....especially in Australia.

Down the track after hype settles down most of these will be dumped by the pro traders leaving the punters high & dry!!

Thank goodness we can seperate the "Wheat from the Chaff" by learning from expertise like Halba,Chris 1983, the barry,Ric,Kennas  etc. etc.on  the ASF forum !
I'm a newie to ASF & learning a lot from everybodys posts.....

P.S.Let me know if you want a copy on  the article from FN Arena....it's very interesting !!


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## mmmmining (27 March 2007)

captjohn said:


> P.S.Let me know if you want a copy on  the article from FN Arena....it's very interesting !!



CJ, save your time, it is a free report, just follow the link

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=8D0A3A21-17A4-1130-F5A1EBA8B69E67D4


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## Halba (28 March 2007)

Thanks captjohn, just wanted to make ERN clearer to all ERN investors.

Cheers

I don't expect any big movement until the drill program commences.

Also they may do an analyst tour like BMN did, take the analysts on a tour of their tenements. BMN went up a lot after that.


----------



## JWBH01 (28 March 2007)

Halba said:


> Thanks captjohn, just wanted to make ERN clearer to all ERN investors.
> 
> Cheers
> 
> ...




Halba,

Any ideas on when the drill program will commence?


----------



## Halba (28 March 2007)

April 9 2007, after easter, so not that long to go. In the meantime they are doing marketing of the company.


----------



## Go Nuke (28 March 2007)

Hmm...well Im glad that with my questions.. and Halba's pro research..have reignited the talk about why we personaly think ERN is good for it price! LOL

Though i am a little concerned now .....that u guys will buy big parcels of shares..{Nuke eyes off Halba} before I can buy more..

About how long would it take for those initial drill reports to come out? Couple of months??
Maybe i have time to save more mulla before they jump up the next leg.
So far it hasn't followed BMN...and Im fine with that!


----------



## Halba (28 March 2007)

Go Nuke said:
			
		

> About how long would it take for those initial drill reports to come out? Couple of months??




They are using downhole logging and spectrometers. IMHO this should run as soon as drilling commences. They should take analysts on a tour there like Bannerman. Show them the at surface u green stuff mmmm =)


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## Sean K (28 March 2007)

Unlikely for this to drop below the well established support area between 55-60 cents in the medium term IMO, pending market shocks. Been going up for 8 months, but volatile. The minimal divergance of the MACD with the sp is not a great sign, but I suppose that's expected considering it has come off highs. Looks ok for the minute, IMO. Prospects look encouraging.


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## chris1983 (28 March 2007)

I like the look of that chart.

I might top up soon. Only problem is what do I top up with.  haha   who wants to lend me money??   Below from the last uranium update in Namibia.

_"An RC rig has been secured and is scheduled to commence an initial 10,000m drilling programme at the Erongo Granites Project in April 2007."_

Maybe a top up around early June


----------



## mmmmining (28 March 2007)

chris1983 said:


> I like the look of that chart.
> 
> I might top up soon. Only problem is what do I top up with.  haha   who wants to lend me money??   Below from the last uranium update in Namibia.
> 
> ...




Read your early post, you are holding ERN, not ERNO. Your problem can be easily solved. Sell ERN, and buy ERNO. You can increase your holding by 50% "without borrowing a cent".


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## Halba (28 March 2007)

Yep i bought 'ERNO' today, need to save some funds but it doesn't matter too much. I guess with a smaller float size u need to be saving funds!


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## Sean K (28 March 2007)

chris1983 said:


> I like the look of that chart.



I'm not a big fan of the volatility, and I also see a very vague head and shoulders happening there with the neckline at 55 cents. If short term trading, just going by the chart, I'd think twice about holding under there. Longer term and these short term pictures have less relevance.


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## chris1983 (28 March 2007)

mmmmining said:


> Read your early post, you are holding ERN, not ERNO. Your problem can be easily solved. Sell ERN, and buy ERNO. You can increase your holding by 50% "without borrowing a cent".




Yeah...But then I have to come up with cash to convert and I dont have any free atm.  Its all tied up.  I still say about 2 months after drilling commences if we see no price movement its time to jump in.  All they will be doing is confirming historical drilling like Bannerman has done and it should cause the SP to be re-rated.


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## mmmmining (28 March 2007)

chris1983 said:


> Yeah...But then I have to come up with cash to convert and I dont have any free atm.  Its all tied up.  I still say about 2 months after drilling commences if we see no price movement its time to jump in.  All they will be doing is confirming historical drilling like Bannerman has done and it should cause the SP to be re-rated.




I don't know which broker you are with. But Comsec guy once told me that I can buy and sell at the same day, only need to pay/credit the difference.

Even this is not the case, you still can sell first, and buy back ERNO next day. Or sell half ERN first day, Sell another half ERN second day, buy back half ERNO second day, and Buy back another half ERNO on the third day....


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## Reefer (28 March 2007)

Comsec balance up the trades for each day and three days later you settle up for the difference, plus or minus.
I'm with mmmmmmmmmm and Halba here.  As the options do not need to be converted until April 2009 I feel they are the ideal entry to this stock - I'll be surprised if an upward movement in SP has not occurred by April 2009, and you will have more leverage with options.  Of course that is downward leverage as well as upside.  You need to ride the volatility and not panic.

On today's close
say 50,000 ERN @ 61c = $30,500
That would finance 75,000+ options or thereabouts.

Seems the way to go as long as you expect the uranium to be proved once drilling starts.


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## Halba (28 March 2007)

Correct. 2 yrs and no time premium is splendid business sense!

However Reefer and all note:

*Any pro rata or free in speccie distribution of Erongo heavy materials project(may be worth a few c to the price) will only be given to shareholders* and optionholders will have to convert.


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## mmmmining (28 March 2007)

Halba said:


> Correct. 2 yrs and no time premium is splendid business sense!



Importantly, liquidity is very good. Half a million trading is very often.


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## chris1983 (28 March 2007)

Halba said:


> Correct. 2 yrs and no time premium is splendid business sense!
> 
> However Reefer and all note:
> 
> *Any pro rata or free in speccie distribution of Erongo heavy materials project(may be worth a few c to the price) will only be given to shareholders* and optionholders will have to convert.




Thats a good point Halba.  There will most likely be a mineral sands spinoff.  I hold quite a few shares allready anyway.  I might top up to 50k ERN if the price and timing is right for me.  ERNO look good though but for me I hold too many options in other companies I need to convert allready and I cant dig up money from no where.  Im in for the long term so I would rather just buy the main share.  Its just your personal preference really.


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## nizar (28 March 2007)

chris1983 said:


> Thats a good point Halba.  There will most likely be a mineral sands spinoff.  I hold quite a few shares allready anyway.  I might top up to 50k ERN if the price and timing is right for me.  ERNO look good though but for me I hold too many options in other companies I need to convert allready and I cant dig up money from no where.  Im in for the long term so I would rather just buy the main share.  Its just your personal preference really.




Why do you worry about conversion so much?
Just sell on market like FPOs?


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## mmmmining (28 March 2007)

Halba said:


> Correct. 2 yrs and no time premium is splendid business sense!
> 
> However Reefer and all note:
> 
> *Any pro rata or free in speccie distribution of Erongo heavy materials project(may be worth a few c to the price) will only be given to shareholders* and optionholders will have to convert.




We are not after peanuts.

1. If it happens, it might be 12 months later or so. They MUST focus on the uranium resources definition. Otherwise, the management team has no version, sider tracked by insignificant issue.

2. If spin off do happened, I guess 1 free shares at 20c for every three shares held. 7c each at top. It is not uranium spin off, it might worth much less. We have see it happened, even recently with HRR's spin off.

3. Your expectation on ERN is not 7c, or even 10c appreciation I guess because the huge risk. I expect at least double my money invested, or risk all. So the benefit to increase share holding by 50% without additional capital will return 30c+ per original share held at current price. I am well still ahead by trading ERNO than ERN. 

4. I believe YT and Kannas are addicted to ASX traded options. They might have a say on this. A lot of them has no time-value at all. Even some of them traded at 10% discount particularly closing to expiration date. A couple of them are: BSMO, and GBEO. Take a look, you might make a few dollars by buying the option, exercise them, and sell it a few weeks late.


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## GRTRADER (28 March 2007)

Reefer said:


> Comsec balance up the trades for each day and three days later you settle up for the difference, plus or minus.




Not sure if you mean this but what they do is let you buy a share and then you have until the close of business the next day to sell and they just settle up the difference. This does not even have to be the same share. E.g. you can buy ern for $4000 and sell bhp for $4500 and provided its within that 2 day period they would just transfer $500 to you.


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## chris1983 (28 March 2007)

nizar said:


> Why do you worry about conversion so much?
> Just sell on market like FPOs?




What if you want to keep them long term?  What if you dont want to sell?  I would rather buy the 50,000 head shares that I want and just leave them there.  Then I know my money is all spread out how I like it.  If I have all options I have to start worrying about selling some of my good stocks like BMN and AOE to free up some cash to convert and I don't ever want to do that.  I don't trade much.  I like to find a good company...and hold.  If ERN then go up big time I'll sell 15 or 20 thousand shares and move onto the next one.  Thats my trading plan.  I buy..I'll sell enough to free carry a holding and I'll move onto the next one.


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## chris1983 (28 March 2007)

Not saying oppies aren't good though...I hold NWRO and CFEO.  There is a lot of time to exercise ERNO though.  I guess the in specie distribution like what Halba mentioned is the bonus of having the head shares.  I don't want to sell my head shares now to move into ERNO.  Then I'll have to pay TAX because my ERN are in profit.  Anyway you guys want the head shares to go up because that will make the oppies move   Its a win..win.  I own ERN.  you guys own ERNO.  All good.  We will make money.


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## mmmmining (29 March 2007)

Have another round of valuation reality check. ERN is becoming dirty cheap now. 

I guess Chris and Halba has done the dirty work already. I just try to highlight it from peer review in term of:

capital structure;
share price; and
management team;
historic drilling data;
number and quality of anomalies targets; and
drilling program in place.

Just a matter of time, people will take serious notice. A day could make +/-10%+  difference in terms of uranium stocks.


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## Halba (29 March 2007)

The more Bannerman increases the stronger ERN looks, people see similarities and BMN's rise is helping ERN.

My valuation report on ERN speaks for itself, the potential is classy. Drilling after easter will provide the catalyst. The only negative is they are going in with 1 RC rig, so it may take a long time (but if they add more rigs later should be fine).


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## Reefer (29 March 2007)

Perhaps you're selling yourself short Halba.  Maybe the broking fraternity have got hold of an illegal copy of your report and are frantically trying to correct their previous lack of interest in ERN.


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## Halba (29 March 2007)

Maybe they did . Certainly the RM research report was just a rehash of previous announcements/presentations. I showed clearly how undervalued it was on a peer comparison basis. Look at canada, if ERN was listed in canada it would be a lot higher.


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## Sean K (29 March 2007)

Halba said:


> Certainly the RM research report was just a rehash of previous announcements/presentations.



Have to agree on the report. And they paid $30K for it too I think! I've joined the party with you guys on this. If it goes pear shaped, you're sacked as my financial advisor Halba and Chris! LOL. Now you can ramp it all you want too!


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## Reefer (29 March 2007)

I found it hard to believe they would bother putting out the RM report.  Apart from the mineral sands addition it looks like they just dragged up the word document for the previous report and pushed "print".  Halba's report was far more informative even if it was blatant ramping.!!


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## chris1983 (29 March 2007)

Fair value will come through.  Just don't get spooked by short term price fluctuations and volatility.  It seems to happen a lot with this one. Eventually it will break that trend and move up to a new level.  Thats why I've got my fill for now and its a waiting game.  Good luck guys.


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## Halba (29 March 2007)

Reefer said:
			
		

> Have to agree on the report. And they paid $30K for it too I think!




Yeah I did it for free!


----------



## Mousie (29 March 2007)

Halba said:


> Yeah I did it for free!




Do I see the "Halba U Report" newsletter coming?


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## Halba (29 March 2007)

> Do I see the "Halba U Report" newsletter coming?




Hahaha no! But I didn't like the RCR capital research newsletter. Failed on many fronts, failed to even mention BMN and ERN! There needs to be a proper one. Get 4mining to cover his end, YOUNG T to cover the specs, me to cover the African ones.


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## Rafa (29 March 2007)

kennas said:


> I've joined the party with you guys on this. If it goes pear shaped, you're sacked as my financial advisor Halba and Chris! LOL. Now you can ramp it all you want too!




Hey, good timing...
I'm in too...
Tho, I am only going to sack Halba if this thing bombs!


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## Go Nuke (29 March 2007)

Haha..well i hope i dont get busted for ramping this up and making ppl buy, by posting the RM report

We have to wait a bit longer.....i dont want to see it breakout yet......Im saving to buy more


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## jtb (29 March 2007)

Can you blokes give it a rest for a while .
Hows anybody sposed to build another stake with all this chatter and joviality going on?

Onwards and upwards


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## nomore4s (29 March 2007)

Halba said:


> Hahaha no! But I didn't like the RCR capital research newsletter. Failed on many fronts, failed to even mention BMN and ERN! There needs to be a proper one. Get 4mining to cover his end, YOUNG T to cover the specs, me to cover the African ones.




lol, you might be onto something there


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## mmmmining (30 March 2007)

Very interesting price action with strong volume for both ERN and ERNO.  I believe serious buyers and day traders are moving in. And people start to associate it as mini-BMN, like  BMN as mini-PDN, and buying the growth story. 


What a story, Three stocks with Namibia projects, at different stage, with similar story..


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## Sean K (30 March 2007)

Yes. Couple of big orders sitting there. Not sure why a legitamite buyer would put 500K out there?


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## captjohn (30 March 2007)

mmmmining said:


> Very interesting price action with strong volume for both ERN and ERNO.  I believe serious buyers and day traders are moving in. And people start to associate it as mini-BMN, like  BMN as mini-PDN, and buying the growth story.
> 
> 
> What a story, Three stocks with Namibia projects, at different stage, with similar story..




Mmmmmming....I luv it when you talk like that!!....yes volume will be 2 mill. by close ...SP is pushing up upper boll.band.....sp....touched 70  ....great for friday arvo....


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## captjohn (30 March 2007)

This could be the breakout  boys !! sp @71


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## kevro (30 March 2007)

kennas said:


> Yes. Couple of big orders sitting there. Not sure why a legitamite buyer would put 500K out there?




I was watching that 500k buy Kennas. Originally sitting at .62c then .635c and finally .65c. At the time he was not that far off the action.


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## Sean K (30 March 2007)

Short term potential breakout probably. Needs to finish well.


----------



## wondra (30 March 2007)

kennas said:


> Yes. Couple of big orders sitting there. Not sure why a legitamite buyer would put 500K out there?




Kennas,

I think he is genuine. If you check back through the course of sales, check the action at around 1.36pm. A large seller arrived with a sell of 500k, almost immediately it was snapped up & then another of 200k. The run then started & the 500k has been following it up probably in the hope that he can catch the dumper if he dumps again


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## Go Nuke (30 March 2007)

DAM..its broken out when i told it not to!!!

WOW...they are some serious orders at .65, .67, .68c.


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## mmmmining (30 March 2007)

Go Nuke said:


> DAM..its broken out when i told it not to!!!




Your are bidding too low? I used to do that, and often in a "missed by 1c, and lost $1 gain situation". 

I changed my strategy a bit, bid half at market price, and another at limited price, it work out well sometimes.


----------



## Halba (30 March 2007)

Don't say I didn't warn yas.

Sorry for my posts on the NUP thread...mods plz delete my posts on that thread.


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## Rafa (30 March 2007)

Halba, i am very disappointed this stock hasn't doubled in one day...
Your Fired!


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## chris1983 (30 March 2007)

wow..just got back from lunch.  Happy to hold


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## Halba (30 March 2007)

> rafa: Halba, i am very disappointed this stock hasn't doubled in one day...




This is just the start of something special....the planets have aligned for this, it has proven historical u drill results to back it up.


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## Go Nuke (30 March 2007)

LOL..no im not bidding too low....I need more time to save money 

66c might form a new base?
Though probably not.
Even when BMN's ann is made, it will refect on ERN i bet.
I was in at 58c&59c though.
So Its not all lost
But more is clearly better here...like beer:alcohol:


----------



## Halba (30 March 2007)

Even if no results ERN will go up on no news - its piggy backing of BMN big brother right now. Market likes namibia and sees similarities between PDN and ERN. Here is what I wrote up this morning, just to give an idea of potential of ERN:

ERN drills from April-June(phase 1), and then from August to end yr(phase 
2). Say JORC by Jan/Feb 2008 30million pounds(conservative). Scoping 
studies/BFS by mid 2008 to commence. Finish by early 2009. Construct 2009 
and ready by end of 2009/early 2010? Can probably produce ~3-4million pounds 
per annum with open pit? $300m cash flow

It looks like a seamless potential transition from explorer to production. This is because there are no enviro hurdles, permitting which will act as a "block".


----------



## chris1983 (30 March 2007)

Distribute your report some more Halba.  Add some background into the directors running the show.  Show some of the previous success with MOTO Goldmines etc haha


----------



## captjohn (30 March 2007)

Halba said:


> Even if no results ERN will go up on no news - its piggy backing of BMN big brother right now. Market likes namibia and sees similarities between PDN and ERN. Here is what I wrote up this morning, just to give an idea of potential of ERN:
> 
> ERN drills from April-June(phase 1), and then from August to end yr(phase
> 2). Say JORC by Jan/Feb 2008 30million pounds(conservative). Scoping
> ...




Good onya Halba.....you're not always right but never wrong !! haha!!
 Halba,or chris,Would BMN be similar timing to production  as above ??....


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## Halba (30 March 2007)

Go Nuke said:
			
		

> DAM..its broken out when i told it not to!!!
> 
> WOW...they are some serious orders at .65, .67, .68c.




Dun worry this stock gives u plenty of opps to get set. A while till results so there will be a retrace?


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## chris1983 (30 March 2007)

Halba said:


> Dun worry this stock gives u plenty of opps to get set. A while till results so there will be a retrace?




Anything can happen with this stock though.  If the final granting of the fifth tenement did go through which is still pending that would definately cause a SP re-rating.  Thats another historic resource under their belt.  Another thing you could add to your report


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## Halba (30 March 2007)

I will add more director background information and update my report with some "uranium commentary" hehehehe


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## chris1983 (30 March 2007)

Halba said:


> I will add more director background information and update my report with some "uranium commentary" hehehehe




I added some information on the directors on the earlier pages.  Dr Leon Pretorious is also a major shareholder.  He aint stupid.  We are on a winner


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## captjohn (30 March 2007)

chris1983 said:


> I added some information on the directors on the earlier pages.  Dr Leon Pretorious is also a major shareholder.  He aint stupid.  We are on a winner




This volume of *2.7 million is record high* for daily volume & closed up very strongly considering it's Friday arvo!!.......


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## Halba (30 March 2007)

was quite the stunner of a close. it looked like lulling it back to 60s, but somebody is determined to step it up. 

The media hasn't even made 1 mention of erongo yet. Hardly makes a mention of Bannerman. This goes to show we are still early in the boom.


----------



## nomore4s (30 March 2007)

Chart looking pretty good. Huge volume today as already discussed. MACD looking good and closed above previous high of 70c. With no more resistance and not many sellers, Monday could be interesting.


----------



## Reefer (30 March 2007)

The 5.24 pm ann re conversion of 430k of options which still have until April 2009 to run would seem to indicate we are about to have ann of the split of the mineral sands business.  Those in the know have made sure they won't miss out.  Or perhaps it's Halba's ramping report to Carmichael's.
I cannot see why anyone would exercise the options this early unless the hive off of the mineral sands is about to happen.
Any other thoughts???


----------



## Halba (30 March 2007)

Yep looks like mineral sands could be on the agenda. Wasn't likely the report to carmichael's I called them and they hadn't even opened that. pfffftttt. The lady on the fone (a supposed 'Research Analyst' never even heard of Erongo) pfffft. And these so called analysts covered Bannerman.


----------



## LifeisShort (30 March 2007)

Halba said:


> Yep looks like mineral sands could be on the agenda. Wasn't likely the report to carmichael's I called them and they hadn't even opened that. pfffftttt. The lady on the fone (a supposed 'Research Analyst' never even heard of Erongo) pfffft. And these so called analysts covered Bannerman.




Hey, easy on the research analysts at Carmichaels. You probably talked to an industrial analyst and not everyone is aware of Erongo. If you spoke to the analyst who put out the Bannerman report then I'm sure they would be aware of them.....how can you not.


----------



## Halba (30 March 2007)

nup they actually didn't! I spoke to wendy casey "'the head of research""

i didn't speak to a specific analyst though 

ahhh this is the guy i should speak to:

James Wilson
Resource Analyst
(08) 9263 5276
Back to top

I'll give him a ring on monday LOL!


----------



## Noskcid (30 March 2007)

Halba said:


> Yep looks like mineral sands could be on the agenda. Wasn't likely the report to carmichael's I called them and they hadn't even opened that. pfffftttt. The lady on the fone (a supposed 'Research Analyst' never even heard of Erongo) pfffft. And these so called analysts covered Bannerman.




Serious, but none the less its 73c


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## LifeisShort (30 March 2007)

Halba said:


> nup they actually didn't! I spoke to wendy casey "'the head of research""
> 
> i didn't speak to a specific analyst though
> 
> ...




Either James or Paul Adams who put out the BMN report. They'll probably get the police on you to stop harrassing and stalking them


----------



## mildew79 (30 March 2007)

was hoping to get these around 0.61 today. didnt quite get there though  settled for the new high (breakout). plenty of volume to confirm and a good close. looks ok to me  in @ 0.72 (slight retrace after all time high breakout). id like to hold this one and avoid profit targets so hopefully sp can advance more in the near future and set a base near todays high. im expecting an explosive run very soon. ERN has been in a sideways channel for a few months now and i feel needs a decent advance to achieve fair value when compared to other U stocks. BMN was also in the same situation recently and look at it go  

any idea on that fifth tenemant guys?

conversion of options very interesting.....


----------



## nizar (30 March 2007)

Halba said:


> Even if no results ERN will go up on no news -




Agree its called momentum.
Maybe a pull back on monday like what BMN did when it first broke but more than likely it will be onwards and upwards.
In my opinion.


----------



## mildew79 (30 March 2007)

im half expecting a 1 day 30-50% retrace also nizar (being monday, historical sp patterns, no announcement [yet]), to which i shall add to my position. if it doesnt happen im not bothered. im sure i will make money either way 

again, very promising today


----------



## Halba (31 March 2007)

mildew79 said:
			
		

> any idea on that fifth tenemant guys?




Patrick(director, ERN) told me its in the applications queue. It will be granted anytime. The moratorium on new leases does not apply to existing apps. Just adds more 'blue sky' upside in the long run, as this 5th tenement holds the Spitzkoppe resource which is langer heinrich style.


----------



## Sean K (2 April 2007)

mildew79 said:


> im half expecting a 1 day 30-50% retrace also nizar (being monday, historical sp patterns, no announcement [yet]), to which i shall add to my position. if it doesnt happen im not bothered. im sure i will make money either way
> 
> again, very promising today



mildew, what do you mean by a 30-50% retrace? From what point?

Intraday this has held up ok so far, bouncing off 71 ish, confirming break through short term resistance at 70 ish cents. Pretty positive that it's held IMO. 

(holding)


----------



## Halba (2 April 2007)

My analysis of erongo has gotten into the right hands, people are seeing it is undervalued at this market cap. Anything under $80m mkt cap probably undervalued at this point in time. 50% retrace would be silly in light of the potential of the assets


----------



## chris1983 (2 April 2007)

Erongo are trading strongly in germany.  Hit a high of 50 EURO.  Equivalent of almost 82 cents.  

50.00 EUR	=	81.8811 AUD

They are currently at 46.80 EURO.

46.80 EUR	=	76.6118 AUD

Erongo are looking the goods.  The fundamentals of the stock say up.  Its still undiscovered IMO.  Should be interesting to see what happens tomorrow after a strong day today.  They held well.


----------



## Halba (3 April 2007)

Closed at 52euros on a high..I did have a few german people interested in my analysis, but main thing is uranium is hot, and drill program is about to start, and its not a small drill program(10,000m enough for hundreds of at surface holes, *especially as inferred you don't need hundreds of holes*) - point being they can use this drill program to see if there is mineral elsewhere on that lease.


----------



## chris1983 (3 April 2007)

Halba said:


> Closed at 52euros on a high..I did have a few german people interested in my analysis, but main thing is uranium is hot, and drill program is about to start, and its not a small drill program(10,000m enough for hundreds of at surface holes, *especially as inferred you don't need hundreds of holes*) - point being they can use this drill program to see if there is mineral elsewhere on that lease.




Large volume went through also..they don't usually trade with much volume over there.

Volume:	1,744,994.

52.00 EUR	=	85.1546 AUD.

52 Euro is the equivalent of 85 cents aussie..hmm a message must be around the corner?  If this is due to your report Halba can you write reports on my other companies too?


----------



## Halba (3 April 2007)

chris1983 said:


> Large volume went through also..they don't usually trade with much volume over there.
> 
> Volume:	1,744,994.
> 
> ...




Chris you write extremely well for being young, and are of similar age to me. Good work(I read your CFE posts with interest). You should be continued to encourage to write. I'm sure people will get that CFE story soon enuff. Market is probably confused about the deal.


----------



## chris1983 (3 April 2007)

Yeah.  The market will only pay what they want though.  I'll hold CFE for 2 months and see what they do.  Erongo should have a good day today.  Looking forward to the open..especially after the strong price action overnight on the German exchange.


----------



## mmmmining (3 April 2007)

In Frankfurt, it opened with a gap up, and huge volume, closed at high up over 15%. what is going on? Somebody speaks German?


----------



## captjohn (3 April 2007)

mmmmining said:


> In Frankfurt, it opened with a gap up, and huge volume, closed at high up over 15%. what is going on? Somebody speaks German?





Ya vold  mein herr........gapped up .....on volume ...Hmmmmm. looks good..ya ?


----------



## chris1983 (3 April 2007)

captjohn said:


> Ya vold  mein herr........gapped up .....on volume ...Hmmmmm. looks good..ya ?




ya.    77.5


----------



## captjohn (3 April 2007)

Hi chris,
Thanx muchly for your advice on ERN ....I  bought shares weeks ago at 60 -ish mainly on your clever analysis.....being low cap. etc.....

you predicted this inevitable rise & you're spot on....again....

thanx a lot & you've got that special dinner in perth at the BMN general meeting.....cheers,
captjohn


----------



## chris1983 (3 April 2007)

captjohn said:


> Hi chris,
> Thanx muchly for your advice on ERN ....I  bought shares weeks ago at 60 -ish mainly on your clever analysis.....being low cap. etc.....
> 
> you predicted this inevitable rise & you're spot on....again....
> ...




No worries mate.  My analysis at the start of this thread was pretty much based off nothing. This was a clear winner to me from awhile back..now with Halba's analysis which is just as good or better than any broker or analyst..some other investors may see the potential.  Looking good boys.  Lets see it hold above 80.


----------



## Go Nuke (3 April 2007)

Some big buyers at 70c 

Might see if i can join them.


----------



## chris1983 (4 April 2007)

Once again they are strong on the German exchange even though its only low volume.

Trading at 49 Euro and hitting a high of 50 Euro.

0.49 EUR	=	0.803468 AUD


----------



## chris1983 (5 April 2007)

chris1983 said:


> Once again they are strong on the German exchange even though its only low volume.
> 
> Trading at 49 Euro and hitting a high of 50 Euro.
> 
> 0.49 EUR	=	0.803468 AUD




Finished at 50 EURO on the German exchange on decent volume.  

50.00 EUR	=	81.5873 AUD

The Germans clearly see things a lot more clearer than Aussie investors.  They should do themselves a favor and just buy on our market.


----------



## Reefer (5 April 2007)

I agree Chris, must be a way some smart traders can buy heaps on Aussie market each day and sell each night on Frankfurt - the differential between the two markets could produce some handy profits.  Increased holdings of both fully paids and options yesterday when the price slipped in early trade and gobbled up my market limits.  Still think this will eventually be a beauty!!!


----------



## captjohn (5 April 2007)

chris1983 said:


> Finished at 50 EURO on the German exchange on decent volume.
> 
> 50.00 EUR	=	81.5873 AUD
> 
> The Germans clearly see things a lot more clearer than Aussie investors.  They should do themselves a favor and just buy on our market.




Mein Herrs,  Maybe Der Bosch need ze AussieTFN(Tax file number) to trade here..  anyway  just sold all my EXT (at 11% loss)& now placing orders to top up more ERN  & CFE .


----------



## Halba (5 April 2007)

artyman: Have a happy easter all

Here is some analysis for you all to read 

Hi all

Some conservative estimates to look out for in 2007 for ERN after the drill program April 2007. Please refer to the ERN presentation. 

Area 1 - A conservative target could be in the range of 10-25million pounds. This is already underpinning the valuation of ERN @ $55m mkt cap fully diluted or so. The market is assuming only 7-8 million pounds of uranium of good quality, rossing style at this price. Anything that errs on the high end of my estimates will result in immediate share price gains. Things to look out for would be obviously better grades/widths than original historic drilling and whether can expand the strike(if drilling continues to find it open for example).

Bear in mind, now at current u prices you only need 10-15million pounds JORC in a good jurisdiction(Africa) to be economic for processing. This would have an inground value(IGV) of about 1billion-1.5billion dollars. A good example of this is Omegacorp(OMC) which is being taken over by Denison and had 13 million pounds (inferred only)

Because Area 1 is the initial focus, and that they only have 1 rig, we could be looking for an inferred estimate from this area, just like Omegacorp(saves extra holes), through confirmatory drilling and through mainly focussing on extensions. 

2. Area 2 west anomaly- 1.5km by 1km dub "WEST". 
""WEST"" - 1500 by 1000m. If its anything like Area 1 intersections, then this could have a slightly bigger size due to the bigger anomaly ~15-20million pounds.

3. Area 3 5000m by 2000m. Being conservative lets assume that the orebody does not correlate exactly with the massive size of anomaly, but this particular target still appears to be the biggest 15-20 million pounds, 6m thick intersections, if grades prove to be economic?

4. Area 2 South anomaly 4000 by 500m. Similar to the west, roughly ~20million pounds possible. Its quite long in terms of length, but relatively narrow in width. Effectively untested here also. 

5. Area 4 - Smaller target than all the rest(in a small square area), possibly 10-15million pounds?

Note: any extensions in strike found by the company/depth extensions will result in a re rating in value. Of course if no economic hits or additional strike extensions are found, this would represent a risk to the company. 

Also 5th tenement spitzkoppe is due at any time which has a resource of ~2.6million pounds only(based on historic drilling ,but open). 

Mineral sands spinoffs are slated to occur this year and this is hard to value, but as of this stage could be worth a notional 5-10 cents per share

Based on say an initial target of 15million pounds JORC, the market cap at EV/lb $10/lb is $150m. The share price at this would be $2.00. But if we adjust it for risks and assume some more share issues, then we could get down to a conservative risked $1.30 target price based on 10-15million pounds actual JORC and some limited exploration upside. Canadian listed companies with deep pockets like MEGA, Denison, SXR, Uramin, Forsys are all ready to pounce and add "pounds" to their inventories, and if pounds are offerred for only $10/lb EV, then they will buy, and look to produce at over $120/lb. This is because ERN will be priced similar to UKL and BLR i.e. "near term producer" due to location.


----------



## chris1983 (5 April 2007)

Nice post Halba.  ERN will bring great rewards.  Its already done well.  I'm looking forward to their next announcement.


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## captjohn (6 April 2007)

Yes Halba, *great analysis*....

Yesterday I sold off all my EXT (at a loss)  &  I can hear chris saying, "I told you so".
Then I  immediately loaded up more ERN....@75.5 


You & Chris certainly seem acurate with getting into the 'low cap' companies.....add to that inferred resources & it's a potential winner..... like BMN is shaping up to be !

*Getting set before drilling starts is the way to go IMO !*

Thanx again for the above analysis......in 6 months we'll see how close you are 

Happy easter to you all too!!....cheers captjohn


----------



## chris1983 (6 April 2007)

captjohn said:


> Yes Halba, *great analysis*....
> 
> Yesterday I sold off all my EXT (at a loss)  &  I can hear chris saying, "I told you so".
> Then I  immediately loaded up more ERN....@75.5
> ...




Hey Captjohn.  I like EXT..just to let you know.  I always had in my mind that they wouldnt rocket up after the share consolidation though..and an entry point after the consolidation would be the best bet.  They have raised funds at 80 cents.  Its fair to say if they went under 80 they are more than likely a good play.  Low 80's a good play also.  Share holders have been burnt over and over and over with EXT and have never seen any rewards from the company.  They don't do anything to favor the share holders at all so low 70's IMO is a high posibility if they don't put out any good news.  I still think they have great prospects on their epl's and the SP will move up eventually.

As for ERN and BMN you know how I feel about the two.  They are definate winners IMO.  They are winners for me already and I hope anyone who enters now also sees rewards.  I think they will.  ERN are holding very firm on the German exchange.  They went down to 48 EURO ON 6000 volume which is the equivelant of 79 cents.  The ask is 51 EURO which is 83.5 cents aussie.  I would like to see ERN list on the TSX.  The canadians seem to show explorers in Namibia more respect.  I have no idea what the costs are with that but I think it would bring a re-rating in SP.  

I'm looking to enter an Australian explorer next.  Just to have some diversity.  I will post on it next week.  Of course some people wont like it but I think its a good play.  All the best with ERN and BMN.


----------



## captjohn (9 April 2007)

chris1983 said:


> Hey Captjohn.  I like EXT..just to let you know.  I always had in my mind that they wouldnt rocket up after the share consolidation though..and an entry point after the consolidation would be the best bet.  They have raised funds at 80 cents.  Its fair to say if they went under 80 they are more than likely a good play.  Low 80's a good play also.  Share holders have been burnt over and over and over with EXT and have never seen any rewards from the company.  They don't do anything to favor the share holders at all so low 70's IMO is a high posibility if they don't put out any good news.  I still think they have great prospects on their epl's and the SP will move up eventually.
> 
> As for ERN and BMN you know how I feel about the two.  They are definate winners IMO.  They are winners for me already and I hope anyone who enters now also sees rewards.  I think they will.  ERN are holding very firm on the German exchange.  They went down to 48 EURO ON 6000 volume which is the equivelant of 79 cents.  The ask is 51 EURO which is 83.5 cents aussie.  I would like to see ERN list on the TSX.  The canadians seem to show explorers in Namibia more respect.  I have no idea what the costs are with that but I think it would bring a re-rating in SP.
> 
> I'm looking to enter an Australian explorer next.  Just to have some diversity.  I will post on it next week.  Of course some people wont like it but I think its a good play.  All the best with ERN and BMN.




Hi Chris, thanx for your explanation ..........please understand tho' that you are not in any way responsible.

I get impatient & tend to use BMN as a 'benchmark' & expect other  explorers I invest in to perform as well as BMN is..

AS you know, last year I sold off 15 junior miners cos was going 'crazy' trying to 'trade' 'em all !!........ Plonked all $$ into Bannerman ....& often I felt guilty not diversifying & when I do ....the SP does NOT go up as much as Bannerman......so  "Why bother with other companies.."

I know a lot of you guys out there have adopted the share investment theory that ;
1.  You must spread your risk by having 10-20 stocks ...(coz if one goes broke you've lost only 5-10% of your dough!!)...& review sp performance every 3 months & sell off accordingly...Fair enough!

However IMO this theory was promoted (& still is) by the big stockbroking firms that want the 'big' commissions on every transaction. 
Mum & Pop investors don't know how to do Online trading  to get commissions @$30-ish..... so they pay heaps more thru the brokers.

2. When share price increases .... do you sell off half your holding to carry the remainder  'for free'!!...also fair enough!! ..but IMO your selling yourself 'short' because everythings a risk & a gamble especially in the explorers...and I kept my fingers crossed when last year I selected BMN as having the least risk with solid fundamentals....that is, historical drillings with a large potential resource.

BMN ended up being 'ASX "Stock of the Year"..coz it topped the Xmas list for most SP appreciation. 

Chris & Halba, I know you guys do a lot of 'behind the scenes' research & very clever at it...& we are all very anxious to read your opinions on the next drilling results from Bannerman !   Hopefully the middle of April !


----------



## UraniumLover (10 April 2007)

chris1983 said:


> Hey Captjohn.  I like EXT..just to let you know.  I always had in my mind that they wouldnt rocket up after the share consolidation though..and an entry point after the consolidation would be the best bet.  They have raised funds at 80 cents.  Its fair to say if they went under 80 they are more than likely a good play.  Low 80's a good play also.  Share holders have been burnt over and over and over with EXT and have never seen any rewards from the company.  They don't do anything to favor the share holders at all so low 70's IMO is a high posibility if they don't put out any good news.  I still think they have great prospects on their epl's and the SP will move up eventually.
> 
> As for ERN and BMN you know how I feel about the two.  They are definate winners IMO.  They are winners for me already and I hope anyone who enters now also sees rewards.  I think they will.  ERN are holding very firm on the German exchange.  They went down to 48 EURO ON 6000 volume which is the equivelant of 79 cents.  The ask is 51 EURO which is 83.5 cents aussie.  I would like to see ERN list on the TSX.  The canadians seem to show explorers in Namibia more respect.  I have no idea what the costs are with that but I think it would bring a re-rating in SP.
> 
> I'm looking to enter an Australian explorer next.  Just to have some diversity.  I will post on it next week.  Of course some people wont like it but I think its a good play.  All the best with ERN and BMN.




Hi Chris,
Was curious if you have made your  australian expl selection yet.
I wouldn't want to miss the boat judging on today's performance of sector

:jump:


----------



## Rafa (10 April 2007)

It has to be MTN...


----------



## Reefer (11 April 2007)

Erongo held it's ground last night in Germany finishing up 3 Euros at 51.  Equates to 81c which is slightly above the close here yesterday.  Gaining strength.


----------



## chris1983 (11 April 2007)

Rafa said:


> It has to be MTN...




MTN look great but I decided to buy echelon.  ECH.  I like trying to find stocks that havnt even started their run yet..it has run a bit but I think it has a long way to go.  You can read my post in the echelon thread.  BTW erongo are performing well.  My mate said that Erongo got a write-up in the Weekend Australian, top 5 best chances of a Uranium mine.  Ill ask him if he has it..ill scan it if he does and then I'll post it.


----------



## Rafa (11 April 2007)

That'll be good to see...

Yeah, MTN is still undervalued, but I'll check out your post on ECH...


----------



## nizar (11 April 2007)

Alot of sellers in this stock... dunno why though.
Sentiment seems to be lacking a little.
Just needs a big volume day to soak up those sellers..


----------



## chris1983 (11 April 2007)

nizar said:


> Alot of sellers in this stock... dunno why though.
> Sentiment seems to be lacking a little.
> Just needs a big volume day to soak up those sellers..




Erongo are very weird..all the buyers just pull out..and then they come back in taking all the weak holders out.  Its done this for quite some time now..but the SP always manages to edge up higher and set higher highs.  The chart really isn't pretty though.  I dont mind..as long as it continues upwards   I'm a believer in this one.


----------



## Go Nuke (11 April 2007)

chris1983 said:


> Erongo are very weird..all the buyers just pull out..and then they come back in taking all the weak holders out.  Its done this for quite some time now..but the SP always manages to edge up higher and set higher highs.  The chart really isn't pretty though.  I dont mind..as long as it continues upwards   I'm a believer in this one.




As am I Chris.
Maybe people keep pulling their money out to invest into the companies with better SP charts at the moment.

I just cant go past the look of that radio metric pic of the area that they are exploring.
I'd be happy to increase my holding with ERN as I believe it has some way to go yet.
Though maybe ERN has a few management issues like BMN {according to Halba}
Your right, the SP chart is pretty up and down compared to others.Though it is starting to take shape now.
I think Im right in seeing a bottom resistance at 73c mark.
Lets see what the future brings
Goodluck all.


----------



## nizar (12 April 2007)

Closed above 80c for the first time today.
We'll see 2mrw if the market thinks thats significant.


----------



## nizar (16 April 2007)

nizar said:


> Closed above 80c for the first time today.
> We'll see 2mrw if the market thinks thats significant.




Bit of movement today.
The laggard in my portfolio, though the depth is looking solid (at this point in time).

Id like to see this one hold above .80 for a few days at least.


----------



## chris1983 (16 April 2007)

nizar said:


> Bit of movement today.
> The laggard in my portfolio, though the depth is looking solid (at this point in time).
> 
> Id like to see this one hold above .80 for a few days at least.




Looks very solid.  Buyer depth from 80 cents is below.

1   47,192           0.825   
4   145,884          0.820   
3   175,000          0.815   
2   60,982           0.810   
1   45,000           0.805   
1   96,569           0.800 

Hardly any shares left for sale too.  Could be a very positive day tomorrow.  Lets see what happens.  It hit its all time high today and held well for once.


----------



## Brujo (16 April 2007)

Yes, getting very thin on the seller's side of the equation, something I always like to see!  I'm not a technical trader or anything, but I always feel much happier seeing the sellers dry up.  Gives the stock a chance to really gap up.

Expecting a strong day tomorrow!


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## chris1983 (16 April 2007)

Just hit .535 EURO in Germany.  Things are looking good.

0.535 EUR	=	0.869152 AUD


----------



## nizar (16 April 2007)

chris1983 said:


> Just hit .535 EURO in Germany.  Things are looking good.
> 
> 0.535 EUR	=	0.869152 AUD




Chris.
Do you have a direct link to this page, so i can put it on my favourites.
Thanks.


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## chris1983 (17 April 2007)

http://au.finance.yahoo.com/q?s=L6Y.F&d=t

I only use yahoo finance.  Just load it and let it sit..will update on its own.


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## chris1983 (17 April 2007)

There is really not many shares left for sale..this is great.  ERN have been moving very slowly compared to some of the other explorers but I believe their grounds are world class.  Comparing them to other uranium explorers in Namibia they should continue their run.  Market Cap is still very low.  They have a historic deposit.  Looking forward to further gains.


----------



## captjohn (17 April 2007)

chris1983 said:


> There is really not many shares left for sale..this is great.  ERN have been moving very slowly compared to some of the other explorers but I believe their grounds are world class.  Comparing them to other uranium explorers in Namibia they should continue their run.  Market Cap is still very low.  They have a historic deposit.  Looking forward to further gains.




ERN has broken out of its trading channel & trending right up!!
I got out of that dog  EXT @89c &topped up withERN @75.
Good decision ...these low cap. companies that chris ferrets out certainly seem the way to go!
ERN starts drilling soon  ..??is that correct?


----------



## chris1983 (17 April 2007)

captjohn said:


> ERN has broken out of its trading channel & trending right up!!
> I got out of that dog  EXT @89c &topped up withERN @75.
> Good decision ...these low cap. companies that chris ferrets out certainly seem the way to go!
> ERN starts drilling soon  ..??is that correct?




yeah in April I'm pretty sure captjohn.  The historic drilling is the upside..just need them to report back some decent grades now..Like BMN we know the uranium is there.  Hopefully by the time they do have some results the spot price has been driven up further and we will be sitting sweet with this one.


----------



## bigt (17 April 2007)

Well, after making a tidy profit earlier in the year (bought ERN at 40c..yes, I wish I had held..) I am back in this great little company. The similarities to BMN are significant and I feel this is just the start of a great run in 07 and beyond. 

Strange trading action today (profit takers? general market sentiment?)  - with the Frankfurt close at 87c (approx)..dropping to 81/82c so far.

Once the drilling gets underway - IMO this is really going to take off, as investors realise this is no fly by night uranium startup..the word is already spreading. Good luck to all holders.


----------



## chris1983 (17 April 2007)

bigt said:


> Well, after making a tidy profit earlier in the year (bought ERN at 40c..yes, I wish I had held..) I am back in this great little company. The similarities to BMN are significant and I feel this is just the start of a great run in 07 and beyond.
> 
> Strange trading action today (profit takers? general market sentiment?)  - with the Frankfurt close at 87c (approx)..dropping to 81/82c so far.
> 
> Once the drilling gets underway - IMO this is really going to take off, as investors realise this is no fly by night uranium startup..the word is already spreading. Good luck to all holders.





Right on bigt.  Thats why I have a decent holding in these.  After a strong start this morning I was hoping for them to atleast stay in the green.  Holding above 80 is still good though and I'm looking forward to further news from Erongo.


----------



## Reefer (17 April 2007)

Something must be brewing with the early exercise of all these options - another 1.5 mill announced after the bell. Around 2 mill in three weeks. Can only be to do with the mineral sands demerger surely??  Why else would you cough up the 20c a couple of years early.  Unless they are "friendlies" supplying some funds for an expanded drilling progamme, although it's only $400k.  Any ideas?


----------



## chris1983 (17 April 2007)

Reefer said:


> Something must be brewing with the early exercise of all these options - another 1.5 mill announced after the bell. Around 2 mill in three weeks. Can only be to do with the mineral sands demerger surely??  Why else would you cough up the 20c a couple of years early.  Unless they are "friendlies" supplying some funds for an expanded drilling progamme, although it's only $400k.  Any ideas?




I would put my bets on what your thinking reefer.  The rest of the mineral sands licenses may be granted soon.  The buyer/seller depth is still looking very good.  Profit takers came in but they were soaked up.  Looking forward to tomorrow


----------



## nizar (17 April 2007)

I really feel this couldve been an outstanding breakout 2day but general market sentiment let it down.
U plays down in general.
But BPO was really a goer.


----------



## JWBH01 (17 April 2007)

Reefer said:


> Something must be brewing with the early exercise of all these options - another 1.5 mill announced after the bell. Around 2 mill in three weeks. Can only be to do with the mineral sands demerger surely??  Why else would you cough up the 20c a couple of years early.  Unless they are "friendlies" supplying some funds for an expanded drilling progamme, although it's only $400k.  Any ideas?




Can anyone excise their options at any time?  What are the advantages?  I hold options due to the leverage. If there is a spin off will option holders miss out?


----------



## chris1983 (17 April 2007)

JWBH01 said:


> Can anyone excise their options at any time?  What are the advantages?  I hold options due to the leverage. If there is a spin off will option holders miss out?




Yeah.  I think thats the case?  Thats why some people think the spinoff for the new mineral sands company may be on the cards due to all the options being exercised of late.


----------



## nomore4s (17 April 2007)

JWBH01 said:


> Can anyone excise their options at any time?  What are the advantages?  I hold options due to the leverage. If there is a spin off will option holders miss out?




The way I understand it is you can exercise the options at anytime, the only advantage would be you get a fully paid share and I believe option holders miss out on the spin off.


----------



## JWBH01 (17 April 2007)

Thanks Chris1983 and NoMore4s.  It's not what I wanted to hear and I don't really have the cash to excise the options.  I guess I will just take my chances and hope the growth in the option does well in the next few years.


----------



## chris1983 (18 April 2007)

JWBH01 said:


> Thanks Chris1983 and NoMore4s.  It's not what I wanted to hear and I don't really have the cash to excise the options.  I guess I will just take my chances and hope the growth in the option does well in the next few years.





You have excellent leverage on the options..expiring in 2009.  I actually would of made more money if I had of bought the options because I could of bought more..but this is one benefit of being a shareholder and not an option holder.  The main focus is the uranium assets anyway.  The mineral sands spin off may turn out to be good..I hope so..but the uranium is my main interest .  Usually the oppies trade at heads to the main share..maybe they will once the spin off is done and completed.  All the best.


----------



## kevro (18 April 2007)

chris1983 said:


> Yeah.  I think thats the case?  Thats why some people think the spinoff for the new mineral sands company may be on the cards due to all the options being exercised of late.




Hi Chris, I spoke to the company secretary yesterday about this same issue about having options and the possible spin off of a new mineral sands company. He was'nt a 100% sure but he believed the company would give the opportunity for the holders of oppies to convert over before final day is set. As I said he was not a 100% so he took my number and is going to get back to me when he speaks to the boss man who gets back from Namibia today.

Kevro


----------



## chris1983 (18 April 2007)

kevro said:


> Hi Chris, I spoke to the company secretary yesterday about this same issue about having options and the possible spin off of a new mineral sands company. He was'nt a 100% sure but he believed the company would give the opportunity for the holders of oppies to convert over before final day is set. As I said he was not a 100% so he took my number and is going to get back to me when he speaks to the boss man who gets back from Namibia today.
> 
> Kevro





Nice work Kevro.  I appreciate the info and I'm sure others do also.


----------



## Halba (18 April 2007)

kevro said:


> Hi Chris, I spoke to the company secretary yesterday about this same issue about having options and the possible spin off of a new mineral sands company. He was'nt a 100% sure but he believed the company would give the opportunity for the holders of oppies to convert over before final day is set. As I said he was not a 100% so he took my number and is going to get back to me when he speaks to the boss man who gets back from Namibia today.
> 
> Kevro




Nice information kevro the boss man in namibia i guess an ann soon =)))) something would have happened whilst in namibia =))


----------



## Logique (18 April 2007)

First time poster. Hugely appreciate the work by Chris, Halba, the Captain and others on the ERN and BMN threads.

I hold or have held all of PDN, SMM and MTN, but lately have become a bit nervous of all the takeover hype, and whether there was better value elsewhere in the sector. Paladin wanted to diversify into some Australian resource, so the SMM takeover was logical. But Paladin's immediate commercial future is based on the African tenements.

You've got to get your uranium to market before you can start making money. I've read the ASF threads, and lots of company announcements and presentations. Particularly impressed by the radiometric survey of Erongo's Namibian tenements.

I reckon ERN and BMN are both more likely to get to market before the Aussie companies, who have to wade through a domestic political and environmental regulatory morass. And their share price gives the investor greater leverage. Have retained residual holdings in the Aussie based co's (learning the lesson of diversified sources), but have moved mostly over to ERN and BMN, which in my view only - will reward patience.

Thanks again guys.


----------



## captjohn (18 April 2007)

Logique said:


> First time poster. Hugely appreciate the work by Chris, Halba, the Captain and others on the ERN and BMN threads.
> 
> I hold or have held all of PDN, SMM and MTN, but lately have become a bit nervous of all the takeover hype, and whether there was better value elsewhere in the sector. Paladin wanted to diversify into some Australian resource, so the SMM takeover was logical. But Paladin's immediate commercial future is based on the African tenements.
> 
> ...




Logique,
Welcome to the 'Bannerman band of brothers' or the Bannerman bretheren....haha,,
Great minds think alike coz I too have mostly bmn & ern, then cfe (iron ore junior) & ero as a long shot.

ern & cfe are tips from chris who ferrets around finding low cap. explorers...& so far his theory is successful.

bmn now will consolidate yet again...until we can have more news to justify taking the SP higher. Its all part of normal progress on the way up. cheers & welcome again...captjohn


----------



## Reefer (18 April 2007)

I too have been gradually rolling everything into ERN and BMN (coutesy of Chris & Halba) and an oiler COE.  Those three make up probably 80% of portfolio.  Might divest the other 20% and jump into CFE based on Chris's research.  Got to keep the brotherhood strong!!


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## nizar (18 April 2007)

Reefer said:


> I too have been gradually rolling everything into ERN and BMN (coutesy of Chris & Halba) and an oiler COE.  Those three make up probably 80% of portfolio.  Might divest the other 20% and jump into CFE based on Chris's research.  Got to keep the brotherhood strong!!




Be careful.

What the problem is with getting tips or advice from people is that you generally are told what to buy, How much to buy and when to exit they dont tell you that. Some time later its become a dog, you talk to the person that gave you the tip only to found out they sold ages ago (perhaps when the fundamentals changed) to buy something else and you are still holding what is now a dog.

Iv got nothing against Chris or Halba, but im sure they would say the same thing.

Please consult a professinal financial advisor and/or do your own research before investing.


----------



## chris1983 (18 April 2007)

Yeah I agree with Nizar.  I like picking out the spec stocks and so far the success factor has been great..but just realise the risks with everything guys.  CFE is a good example..deal doesnt go through..no good..deal goes through..good.  Thats what it comes down to for me and I feel fairly confident it will go through but my cofidence means nothing 

As for ERN and BMN...they are just hold and wait.  

Currently holding CFEO/ERN/BMN/AOE/AGM/ECH/HDGO

I can put my finger on three of those stocks that could fail.  Overall I'm overly confident with AOE/BMN/ERN/AGM and I have been on these four from very early stages but I believe they will continue to run. I'm still confident with the others..I weigh all the factors up when I pick a spec. Good luck in your decisions people.


----------



## Reefer (18 April 2007)

Hear what you say guys but I am certainly doing my own research as well otherwise I wouldn't be jumping in.  I was initially alerted to BMN by an article in the magazine MiningNetNews put out and while trawling the net for further info, up popped ASM - never heard of it previously.  Headed back thru Chris's posts then, downloaded and printed the 80 pages on uranium published by dept of Mines in Namibia and have a pretty thick file with all the broker's reports and company reports of both ERN and BMN, and COE.  So I'm happy to do the homework but I appreciate you guys highlighting the stocks of interest or the breakouts, else most of us would still be in the dark.  Keep up the great work, and I won't be on the warpath if it all goes sour - believe that is highly unlikely though.


----------



## captjohn (18 April 2007)

Yes Nizar,

Thanx  very much for your words of wisdom......I do make my own decision to press the 'buy' button...& have my finger on the 'sell' button until SP is up a bit.

I do evaluate Chris's & Halba's analysis & appreciate their research.
I am limited in knowledge at working out how to calculate size of resources & I respect others that can.

OTH I sailed around the world on a yacht using a sextant to navigate.... (that's another long story)  
I got ern at 60 so  in front already & drilling yet to start!


----------



## chris1983 (18 April 2007)

Glad to hear reefer..I like hearing everyones making money..plus its great when we all get to ride up the SP increases together 

But yeah..just would hate to pick a stock and see everyone lose their cash..even when I first bought BMN it was extremely speculative at that stage.

Back onto ERN..they are holding well above 80.  They are still extremely undervalued as an explorer in Namibia.  If RM Research release another research report they should highlight the historical drilling and do an estimate to the depth it has been drilled too.


----------



## kevro (18 April 2007)

chris1983 said:


> Glad to hear reefer..I like hearing everyones making money..plus its great when we all get to ride up the SP increases together
> 
> But yeah..just would hate to pick a stock and see everyone lose their cash..even when I first bought BMN it was extremely speculative at that stage.
> 
> Back onto ERN..they are holding well above 80.  They are still extremely undervalued as an explorer in Namibia.  If RM Research release another research report they should highlight the historical drilling and do an estimate to the depth it has been drilled too.




Hey Chris, maybe there is a case for a standard disclaimer under every post made. Sort of covers everyones butt that way.


----------



## Reefer (18 April 2007)

Chris, how do you work out the resource estimate? Or more particularly where does the calculation allow for say a 300 metre deep hole which has say intervals totalling only 50 metres of the 300 which the drilling core show as uranium hits.  Just curious.


----------



## chris1983 (18 April 2007)

chris1983 said:


> That looks right to me Halba.
> 
> length by width by thickness(depth) is easier for me to understand.
> 
> ...




This was a previous post showing an estimated historic resource.  Halba also had some good posts..can't quote them all..but you get the idea.


----------



## Noskcid (18 April 2007)

SO true, I have friends asking what I hold and they go okay ill get that, but I warn them to do their own research 1st and just point them in the direction to look at, so incase anything goes wrong they dont start a WW3 lol, Which is what I do - basically I read Chris and Halbas thoughts on ERN then went away and done my own reading and research before I came back to press the buy button. Touching wood - if anything goes wrong which I and everyone else HIGHLY doubts, I dont think anyone will blame anyone else as it is ones own decision


----------



## chris1983 (18 April 2007)

Reefer said:


> Chris, how do you work out the resource estimate? Or more particularly where does the calculation allow for say a 300 metre deep hole which has say intervals totalling only 50 metres of the 300 which the drilling core show as uranium hits.  Just curious.




You can only go by the AVG ppm that they report per hole.  I worked their historical desposit off an avg ppm of 250.  Just based off some of the historical drilling results they released in an earlier announcement.


----------



## chris1983 (18 April 2007)

Below was taken from the last uranium updated announcement.

_"At the Area 1 Prospect significant results from previous drill testing include:

 32m at 348 ppm U3O8 from 6m to 38m,
 12m at 310 ppm U3O8 from 18m to 30m,
 7m at 307 ppm U3O8 from 7m to 14m,
 17m at 287 ppm U3O8 from 28m to 45m
 39m at 272 ppm U3O8 from 2m to 41m, and
 33m at 248 ppm U3O8 from 13m to 46m.

The drilling identified an apparently broadly flat undulating zone of  ineralization 25 to 35m thick over an area of 800m by 250m. The mineralisation, identified as a radiometric and Radon anomaly, remains open to the south."_

The grades are made available to us and also the depth..of 25 to 35m thick over an area of 800 by 250m..and this is just historical information.  It continues to be open to the south.

Erongo have a low cap/small amount of shares on issue/cash at bank/believe to have significant mineral sands projects/oil assets earning some cash.

They are really looking good IMO.  They also have some other exciting prospects on their Namibian licenses.

_A ground radiometric and Radon gas survey over the Area 3 Prospect identified an anomalous target area of 5,000m by 2,000m.

Two significant untested radiometric anomalies have been identified at the Area 2 Prospect._

IMO this is a cocktail for further SP gains.


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## Reefer (18 April 2007)

Chris, thanks for your replies. So just to get my fuzzy brain around this so my research actually means something.  Length x width x depth gives the tonnes of rock after conversion.
Then the critical thing is what ppm you apply, and the 250ppm in your calcs is an all in parameter that allows for the intervals of high grade, low grade and no grade.  
So if I am looking at "Significant Diamond Drill Intercepts" on GOA0010 of BMN (all I can lay my hands on at short notice) they reported grades between 169 and 1056ppm over 86 metres of the 200 metres drilled - but this is only "significant" intercepts so presumably there would be others.  So your av ppm of 250 is how you would calculate the uranium resource for this hole?  I realise this is not an exact science, and Carmichaels seem to use a similar methodology.


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## chris1983 (18 April 2007)

When they say the grades you can work out the exact ppm for the hole if they give you like all the grades hit down the length of that hole..plus the length hit for each grade etc etc.  You need the drillhole image though..like a cross section of the drill..  Its hard work.  You just look at the numbers and at an Avg it looks around 250ppm at to 35 meters depth.  

"800 x 250 x 35

= 7,000,000 Cubic Meters

2.4 tonnes per cubic meter.

= 16,800,000 tonnes"

Length x width x depth of the deposit gives you the total amount of cubic meters..you need to convert that to tonnes.  I read on a website it is 2.4 tonnes per cubic meter.  It also depends on the density of the rock etc etc..to get the exact figure for how many tonnes per cubic meter. A lot of factors come into the equation.  The estimate we have given is a rough estimate but I think it would be about right.


----------



## Reefer (18 April 2007)

Thanks Chris, you've cleared that up nicely.  Will understand a bit more what I'm reading now!


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## james888 (18 April 2007)

Chris, sorry for my ignorance, but how do you work out the depth of 35m, need to take an average of 25m and 35m ?


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## chris1983 (18 April 2007)

james888 said:


> Chris, sorry for my ignorance, but how do you work out the depth of 35m, need to take an average of 25m and 35m ?




Just got home..um..you can take it to 29 meters if you want.


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## chris1983 (18 April 2007)

Even to a depth of 25 meters they have over 6.5 million pounds of uranium.  The point is they have uranium.  Let them drill it out now to prove the historics and they will get a re-rating.  Market cap is still very small.  They also have 3 key prospects to work on and they will find more prospects on their licenses..they have a huge land coverage in Namibia so there is a lot of work to be done but if you weigh everything up it looks very positive.  

They also dont only just have uranium but have their supposed "significant" mineral sands projects which look like they could result in an in-specie distribution to share holders.  Good luck if you decide to jump onboard.


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## chris1983 (19 April 2007)

Hit a high of .58 EURO lastnight on strong volume in Germany. 

Volume:	1,748,098

0.58 EUR	=	0.941807 AUD

Finished at

0.545 EUR	=	0.884881 AUD

What will the day hold...


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## Reefer (19 April 2007)

Jeez, I might go and live in Germany.  They seem to rate our ERN's much higher over there.


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## kevro (19 April 2007)

Just had a thought.

Can you buy in Oz and sell in Germany?


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## chris1983 (19 April 2007)

kevro said:


> Just had a thought.
> 
> Can you buy in Oz and sell in Germany?




haha..dont know?  So much effort..could make you a lot of money though   ERN are a little annoying.  They are still very cheap IMO..go up in Germany..hit a high of 94 aussie cents..yet they fall here and are into the red now..thats the way it goes though.  Just have to wait.  These ones move up slowly..seems to be the way they are.  Which isnt a bad thing.  As long as they continue up.


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## chris1983 (20 April 2007)

Moving nicely on low volume.  If it closes at these prices its the highest its ever closed.  Currently at 86..and the 52 week high is 87


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## nizar (20 April 2007)

chris1983 said:


> Moving nicely on low volume.  If it closes at these prices its the highest its ever closed.  Currently at 86..and the 52 week high is 87




Yeah blue sky close.
Just like BLZ.
Im looking forward to next week


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## Halba (20 April 2007)

Importantly look at mkt depth, next resistance late 80s low 90s. A favourable ann and it looks like it'll break. Not too many sellers, looks like a sophisticated investors stock, absolutely no sign of mums and dads.



> ERONGO ENERGY FPO
> 
> Stock Bid $ Offer $ Last $ Change* Open $ High $ Low $ Volume News
> ERN 0.845 0.860 0.860 +0.020 0.840 0.860 0.830 238,712
> ...


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## chris1983 (20 April 2007)

Its been trading at an unusually high volume in Germany over the past few days.  Maybe they know something we don't know.


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## Sean K (20 April 2007)

Halba said:


> Importantly look at mkt depth, next resistance late 80s low 90s. A favourable ann and it looks like it'll break. Not too many sellers, looks like a sophisticated investors stock, absolutely no sign of mums and dads.



There is no resistance past 86 cents. 'Sophisticated Investor Stock.' LOL.  

Fundamentals no change so must go to the chart.

(I've taken some profits)


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## chris1983 (20 April 2007)

Trending up isnt it..just like Bannerman.  Like a replica   Whole reason im onboard.

Looks like off the charts they could fall back..based off the MACD etc etc..I cant do charts though.  Kennas if you were playing it off the charts...would you predict right now as a good time to sell..it looks that way doesnt it after all the previous pullbacks..

I just cant do charts though..what if they come out with an announcement..all that charting is thrown out the window.


----------



## Sean K (20 April 2007)

chris1983 said:


> Trending up isnt it..just like Bannerman.  Like a replica   Whole reason im onboard.
> 
> Looks like off the charts they could fall back..based off the MACD etc etc..I cant do charts though.  Kennas if you were playing it off the charts...would you predict right now as a good time to sell..it looks that way doesnt it after all the previous pullbacks..
> 
> I just cant do charts though..what if they come out with an announcement..all that charting is thrown out the window.



I'm treading carefully at the moment with how long I hold all my speculative stocks. Once I've seen a decent rise, or the chart is telling me overbought, I'm taking profits, or getting out completely. This is purely on my belief the XAO is getting toppy and any correction will punish small caps and speccies the most. I only have a couple of large cap 'blue chips' at the moment, and I'm happy to keep them. Most of my money is actually in managed funds now. (don't laugh)

I took some profits off ERN today because of the reasons I have given in the chart above, but will happily be back in if conditions change, or if it's proved that it has started a new bullish phase. It's stepped just out of the 1 year channel now, and yes, MACD and stochastics are confirming it has done this and telling me it will probably pull back a bit. That is only a 'probability' of course. 

And yes, if a awesome ann is released, or U spot jumps another 10%, or if there is a general crash, then throw this out the door. Or, more correctly, re-evaluate. 

Must say though, this is all pretty short term stuff, and really only relevant to short term traders. (long term charts not quite as relevant here) If the fundamentals are there with this stock, then who cares about short term movements? Buy, and then only change your view on the stock if the reasons you bought it have changed. Eg, no uranium in them there hills. That seems unlikely from what has been presented so far, but there are many other fundamental factors that will present themselves when re-evaluating a position here of course.


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## chris1983 (20 April 2007)

If I was playing ERN based off the charts I also would be selling.  As you probably know..I like to hold stocks for atleast a year so I dont pay much tax..Then I'll sell enough to free carry the rest.  Finding stocks with good fundamentals and a chance to grow into something big is a good challenge..eg BMN,AOE,AGM

I think ERN fits the category.  Its good you didn't sell them all because I think they are still too cheap.  This is purely my opinion


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## nizar (20 April 2007)

Kennas you have your methods, and you are more experienced than me.
But for me, i usually BUY blue sky stocks, not sell.


----------



## Sean K (20 April 2007)

nizar said:


> Kennas you have your methods, and you are more experienced than me.



 Doubt that!



nizar said:


> But for me, i usually BUY blue sky stocks, not sell.



Yep, I sometimes do the same. Unfortunately, this wasn't blue sky when I sold it, and just thought it was getting toppy as I explained above. Perhaps unlike you, I look for turn around set ups, and try and get them before they run. 

This has been pretty bullish since it broke through 70. I'm happy to have some $$ in my hand for the moment.  

Gotta say, the past 2 weeks have been particularly bullish for this. Lots of tails on the candles indicating great buying support.


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## nizar (20 April 2007)

kennas said:


> Perhaps unlike you, I look for turn around set ups, and try and get them before they run.




So do I. At times.
MLS i was in before it ran, and BLZ, well thats another story. DYL as well.
Yourself probably much more but thats not the point.

But the point i want to get across is getting into blue sky doesnt mean the run is over, but rather its just the beginning, and its NOT too late to jump on.

By the way, wasnt THX a mad set-up when it pulled back to 50c??


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## chris1983 (21 April 2007)

Update for ERN followers.  ERN continues to trade strongly on the German exchange..there was a bit of a sell off yesterday but it still traded at high volumes of around 1.5 million shares.  Today ERN are up .043 EURO and were up .063 EURO at one stage.  Current price is below.

0.55 EUR	=	0.895411 AUD

High for the day was

0.57 EUR	=	0.928102 AUD

Current ask is .56 EURO.


----------



## svensk (21 April 2007)

Chris, has there always been a strong correlation between german and aus prices? 
Is there a particular reason the germans are paying more for the stock than we are? More optimistic perhaps?


----------



## chris1983 (21 April 2007)

svensk said:


> Chris, has there always been a strong correlation between german and aus prices?
> Is there a particular reason the germans are paying more for the stock than we are? More optimistic perhaps?




Hi svensk.  Not 100% sure.  Erongo finished at .56 EURO if anyone wants to know.  Traded a volume of 1,616,400.

Larger volumes have been traded over there for the past week.  Maybe they have less shares on issue to be traded on their market?  I really dont know how it works.  If there is less shares they are illiquid and harder to get a large holding in..thats just a guess though..or yes maybe they are more optimistic.  Definately been trading a lot larger volume over there than here lately though.  Interest in this stock has definately picked up a bit.  Anyone else with suggestions?


----------



## Halba (21 April 2007)

A few reasons why it is going up:

1 - Recommended in a German tip sheet newsletter (a reputed one, think like Dines newsletter for Americans which tripled ACB and WMT's share prices).

2 - Drilling about to commence.

3 - Other new details/mineral sands/ in quarterly report due end of April.


----------



## Sean K (21 April 2007)

kennas said:


> Fundamentals no change so must go to the chart.






kennas said:


> Gotta say, the past 2 weeks have been particularly bullish for this. Lots of tails on the candles indicating great buying support.



 While I think it may have run ahead of it's self the past week or so as indicated in last chart, I've been considering that it may be just starting a new, more bullish trend. The past week which has seen it jump out of long term trend, could be the start of a new trend? Maybe. 

On this 3 month chart you can clearly see the latest bullish move out of the long term trend. Also, note all the candles with long tails on them (green mark underneath each) indicating that buyers came in every time the stock came off a little. 2 of the candles without tails were actually positive days, so there is only one day since 30 Mar, and the breakout, that has not been bullish. 

Maybe I've taken profits too early? Maybe I'm too concerned about the XAO?  I guess we'll find out in the coming weeks.


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## Halba (21 April 2007)

Re: profits too early. Hard to say. But your technical abilities will allow you to reenter if you called it wrong. ERN is still early days I'm sure you'll make the right decision. So far no fundamental change, and going up steadily.


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## svensk (21 April 2007)

kennas, if you note the 1 year daily chart, the current price action is still part of a larger uptrend (albeit hovering around the upper trendline). if you take on this perspective, then perhaps your exit was well timed.

Perhaps any upcoming announcement regarding drilling results will result in a breakout from this uptrend, and produce an acceleration in the trend much like the one seen in the above 3 month chart.


----------



## JWBH01 (21 April 2007)

Halba said:


> A few reasons why it is going up:
> 
> 1 - Recommended in a German tip sheet newsletter (a reputed one, think like Dines newsletter for Americans which tripled ACB and WMT's share prices).
> 
> ...




Maybe this needs a recommendation here similar to Germany.  I actually got my mates who's dad works at JB Were to run it by someone there to see what they think, still haven't heard anything, not sure if I will hear anything.  Thought it was worth a try.


----------



## svensk (21 April 2007)

As an addition to my previous post, here are my musings regarding the prospect of a future short term retracement of the SP. Given i'm only new to TA, feel free to take them with a grain of salt. If this is more suited for its own thread in the beginners lounge, could an admin please move? Thanks 

1. Trendlines - The SP is straddingly the upper trendline. Short of a breakout above this trendline, it is probable that the price will retract back within the usual range of the trend.

2. Bollinger bands - The SP has recently penetrated the upper bollinger band and is remaining around the edge. Time for a downward movement of the SP toward the middle of the bollinger bands?

3. Oscillators - MACD and RSI approaching overbought levels. How long can current levels be sustained for before they reverse back toward the midpoint line? Also the longer macd line is approaching the shorter, thus the possibility of a dead cross forming. This can also be seen between the two EMA lines.

4. Divergence - There seems to be an apparent divergence between the increasingly higher highs and the decrease in volume and macd histogram. This point i'm not so sure about, as my knowledge of divergence is somewhat limited. Does a divergence of this sort not indicate a future trend reversal?

Granted the analysis is not that in depth, but it seems to me each point indicates a share price retracement, at least in the short term (that is without any major announcements). For those of you who are more knowledgable in the area, feel free to point out any points I have either misunderstood, or totally missed out. I appreciate any feedback.


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## Sean K (21 April 2007)

svensk said:


> 1. Trendlines - The SP is straddingly the upper trendline. Short of a breakout above this trendline, it is probable that the price will retract back within the usual range of the trend.



I think your top trend line is out. See my earlier 1 year chart and compare. This recent rise, is not part of the long term 'trend'. YET.


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## captjohn (22 April 2007)

kennas said:


> I think your top trend line is out. See my earlier 1 year chart and compare. This recent rise, is not part of the long term 'trend'. YET.




Yes I agree with you kennas....your upper trendline has a lot more 'touches' & therefore most accurate.

ERN is changing from a trading range... & breaking out into a stage 2 chart which  may trend up sharply based on info & fundamentals that JBWHO1 has just posted.

Its still very early days for ERN now & I'm holding my shares.....  I bought coz they're about to start drilling. 
Namibia was once a German colony known as South West Africa...so 'wunderbar' to see it listed on the German exchange which will drive sp up  snell snell !!(Quickly quickly !!...haha )

Also ERN  will get noticed a lot more when Bannerman announce the extent & size of their u308..

*Then analysts will realise just how quick mines in Namibia can get into production compared with Australia !!*


----------



## svensk (22 April 2007)

Thanks guys. I'll adjust the trendline accordingly.

In regards to the other points mentioned, do they seem valid for the prospect of a short term retracement? In my view, they're hard to look past.


----------



## bliimp (22 April 2007)

Came across an interesting article on Gunson Resources of Western Australia; who had to endure a 4 year Environmental Protection Authority process to mine zircon … not uranium. 

Refer to the link below 

http://www.gunson.com.au/files/reports/MR Government Approves Zircon Mining at Coburn 26 Mar 07.pdf

To quote … “We have worked very hard with Federal, State and local governments, the local community, environmental groups and other key stakeholders  to ensure that the unique environmental values of the Shark Bay World Heritage Property and the broader region are protected and conserved for future generations, while ensuring the economic and social benefits of the Project are shared with the local community”

Even if this coming week Labour does away with their 3-mine policy, the administrative red tape in Australia will still be there – be it environmental or aboriginal or heritage.

When you consider that the Rossing uranium  mine started operations in 1976, that is well over 30 years ago, and when you consider that Namibia has been very stable in all that time, I am beginning to get extremely confident with most of  the Namibian explorers, in particular Erongo and Bannerman.

The above just reinforces Captain John’s assessment.


----------



## chris1983 (22 April 2007)

bliimp said:


> Came across an interesting article on Gunson Resources of Western Australia; who had to endure a 4 year Environmental Protection Authority process to mine zircon … not uranium.
> 
> Refer to the link below
> 
> ...




Thanks for the post blimp.  I bought Australia's Paydirt magazine for April and there is an interesting article titled _"Why Aussies in Namibia will be first past the post"_

Ill take a section out from the article.  It points to faster production in Namibia.  Its a full page article

_"This is expected to be a three-way race between a trio of companies exploring next door to Paladin's Langer Heinrich in Namibia.  They are Bannerman Resources (to the north),  Deep Yellow (to the South) and Nova Energy Ltd (to the west).

With no delays, like Australia, to mine uranium in Namibia, construction could start within 18 months."_

You could also add Erongo into the category of companies able to start up a mine faster than Australian explorers.  All in all this article is good for all uranium explorers in Namibia.


----------



## Halba (22 April 2007)

huh? NEL is very grassroots. It doesn't even have any exploration results in their namibian tenements. These paydirt fellas know much less than people on this forum.


----------



## chris1983 (22 April 2007)

Halba said:


> huh? NEL is very grassroots. It doesn't even have any exploration results in their namibian tenements. These paydirt fellas know much less than people on this forum.




Yeah I think they were just mentioning some of the uranium explorers in Namibia.  They left out Erongo though.  Maybe they havn't heard of them yet?  Like a lot of other investors.  ERN is still an unknown to most people.  All in all its a good article for BMN.  Any positive effect on BMN/PDN etc usually runs off onto Erongo.


----------



## Go Nuke (22 April 2007)

So are there any guess on a possible entry {or re-entry for those of us that already hold ERN} point?

Going by my charts I would put it at around 78- 79c mark.

The next point would be 73c which is where it closed at on the 30th of March, however Im not too sure that I could see a reason for it to fall that far.


----------



## Halba (22 April 2007)

Worrying about a few c here and there doesn't matter go nuke.

If I worried about a few c here and there I would've missed the ERN train.


----------



## nizar (23 April 2007)

Halba said:


> Worrying about a few c here and there doesn't matter go nuke.
> 
> If I worried about a few c here and there I would've missed the ERN train.




Exactly.
Agree wholly.

For me -- the ones I tend to top up or enter, they immediately go south and take a breather for a while -- the ones which I wait for a pullback, it never happens!


----------



## Halba (23 April 2007)

nizar and others:

i was very successful in this stock purely because i never hesitated. First smallish entry was 45cents, back in the 'spec' days when it was just grassroots. Me and chris got in a bit early. However it was my key entry just below sixty cents that did it. And i entered properly >100,000 shares. Lucky i didn't worry too much about 1 or 2c. I saw many ppl bidding 58-57c in the hope it went down there, so i bid 59-60c. Those people worried about 1c then, may not have jumped on properly, and missed about 30c run(with more to come most likely). In terms of $ saved, if you are buying 100,000 shares, that is nearly 30 thousand dollars. So not worrying about 1 or 2c saved me that much. It looks like still early days for this company with a market cap below the average of peers. 

PS: Am looking to add more into Erongo now, I feel its on a solid run here. But i note there is a lot of manipulation in this stock. The 200k bidders come in, and seem to disappear, and come back in. Cycle seems to repeat depending on their mood. These can take it back to low 80s, late 70s, if they disappear. I've done better in this stock than BMN so far purely because of entry technique/not worrying about a few c.

You can have all the fundamentals in the world(BMN), and all the knowledge, yet it does not help in entries. hopefully my torrid time with picking the tops of BMN will be solved by time in the market.


----------



## nizar (23 April 2007)

Yeh to be honest i never wait in the depth.
Who cares -- entry is of least importance.
Exits and money management (position sizing) are far more.


----------



## spooly74 (23 April 2007)

captjohn said:


> Also ERN  will get noticed a lot more when Bannerman announce the extent & size of their u308..
> 
> *Then analysts will realise just how quick mines in Namibia can get into production compared with Australia !!*





Hi CaptJohn,

I have seen this mentioned before and  am wondering how exactly it`s quicker to get a uranium mine up and running quicker over there.

Is it because the Gov are simply pro U mining, and that labour costs are cheaper?

The only comparison is PDN`s Langer Heinrich which went from completing pre feasibility study in Feb 2003 to production about 4 years later.

I would think that some Australian miners would have 2010 or 2011 in their sights too.

cheers


----------



## Halba (23 April 2007)

Don't think its that bad captnjohn. Govts such as South Australian govts have demonstrated willingness to fast track approvals processes(see AGS example, also Honeymoon mine by SXR uranium 1). So pretty much it is still possible to get a uranium mine quickly here in Australia, provided governments are proactive and lenient.


----------



## mildew79 (23 April 2007)

kennas said:


> There is no resistance past 86 cents. 'Sophisticated Investor Stock.' LOL.
> 
> Fundamentals no change so must go to the chart.
> 
> (I've taken some profits)




summed it up nicely there kennas. i also took some profits fri and shall be looking to get back in at a lower risk level in the near future. overextended short term indicators shall mean an agressive rally unlikely at this stage (a lot of entries / buyers shall be a little weary until these indicators improve). 

additionally, it is my experience speckies can really be cooked on bad news or a market correction when indicators are in an overbought position like ern currently. 

imo(short term) needs some time to bring indicators back to a safer level.

bmn is oversold atm and has a short term support. with profit takers gone, my U play money shall jump to them at or near this short term support.


----------



## mildew79 (23 April 2007)

kennas said:


> While I think it may have run ahead of it's self the past week or so as indicated in last chart, I've been considering that it may be just starting a new, more bullish trend. The past week which has seen it jump out of long term trend, could be the start of a new trend? Maybe.
> 
> On this 3 month chart you can clearly see the latest bullish move out of the long term trend. Also, note all the candles with long tails on them (green mark underneath each) indicating that buyers came in every time the stock came off a little. 2 of the candles without tails were actually positive days, so there is only one day since 30 Mar, and the breakout, that has not been bullish.
> 
> Maybe I've taken profits too early? Maybe I'm too concerned about the XAO?  I guess we'll find out in the coming weeks.




im also concerned about xao a little. risk management may mean we miss out on some profits, but keeps us around making money in all market conditions. hindsight is useless in share trading. love your chart posts kennas, you read charts very similar to myself so great reinforcement to my decisions


----------



## nizar (23 April 2007)

At .875 theres 6 bids each for odd amounts under 2000 shares.
Isnt that weird?


----------



## captjohn (23 April 2007)

Arghhh......sp just touched 90    .
Busy now spooly I'll respond later.
cheers.
captjohn


----------



## kevro (23 April 2007)

Into the .90's now and not much left on the sell side.


----------



## captjohn (23 April 2007)

kevro said:


> Into the .90's now and not much left on the sell side.




I've posted a few for sale over the dollar mark to be there in readiness for trading halt! on announcement


----------



## Logique (23 April 2007)

Impressive charting, thanks everyone. 

I have my fingers crossed that this is a bullish breakaway. That's based on my interpretation over a longer time frame, and a range of technical indicators. But also it's about the nature of the industry, and my own faith in ERN.

Smaller growth stocks don't always comply with near term technical orthodoxy. Not even considering selling.


----------



## Halba (23 April 2007)

Hmm sellers being pulled. Uranium stocks surprisingly slow today yet ERN is doing better than most. It has been stable in correction last week. Well done ERN.


----------



## captjohn (23 April 2007)

spooly74 said:


> Hi CaptJohn,
> 
> I have seen this mentioned before and  am wondering how exactly it`s quicker to get a uranium mine up and running quicker over there.
> 
> ...




Namibian government will be quicker than this now & are   very pro mining as need royalty $$ to run low GDP  country. 
No native title claims there....in Oz this can hold mines up for years.
Also our greenies are a big delay for mines..
Chris  has mentioned article in 'paydirt magazine  about this subject......I'm going out now to buy it....you should to & write us an article on it ASAP.
good trading..captjohn.....


----------



## spooly74 (23 April 2007)

captjohn said:


> Namibian government will be quicker than this now & are   very pro mining as need royalty $$ to run low GDP  country.
> No native title claims there....in Oz this can hold mines up for years.
> Also our greenies are a big delay for mines..
> Chris  has mentioned article in 'paydirt magazine  about this subject......I'm going out now to buy it....you should to & write us an article on it ASAP.
> good trading..captjohn.....




Yeah the royalties issue is certainly a bonus.
From memory I think it`s 2% for the Namibian Gov, Paladin had allowed for 5% for LH.
With the rising U price I`d imagine they might review the royalties but I don`t think it will impact much on miners ...just a small increase perhaps.

Re. the native claims in Australia.
Once a company applies for a mining permit, the proposal would be assessed via the standard regulatory assessment process (PIRSA in South Australia for example). This requires consultation with relevant state government agencies, community groups and individuals.
I would assume that if a company then proceeds with a Pre Feasibility study that the native claims issue would have been taken care of.

As for the Greenies, well they`re easy to take care of these days, and only become a problem when they can climb up and chain themselves to trees  

I`ll definitely check out the Paydirt Mag...sounds good
cheers


----------



## nizar (23 April 2007)

Halba said:


> Hmm sellers being pulled. Uranium stocks surprisingly slow today yet ERN is doing better than most. It has been stable in correction last week. Well done ERN.




LOL we had a correction last week ?


----------



## Brujo (23 April 2007)

Interesting sell/buy chart for the options.  One solitary seller in the market at $1.00  !!!


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## JWBH01 (23 April 2007)

Brujo said:


> Interesting sell/buy chart for the options.  One solitary seller in the market at $1.00  !!!




How can the option be asking more than the FPO?  I guess it is only the asking price.  It will probably get pulled tomorrow.


----------



## chris1983 (23 April 2007)

JWBH01 said:


> How can the option be asking more than the FPO?  I guess it is only the asking price.  It will probably get pulled tomorrow.




Theres just no more options left for sale JWBH01.  So the guy who wants $1 is the only seller left.  Doesnt mean it will get filled though


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## Halba (25 April 2007)

Hammered last night in Germany to 53 euros or 86 cents AUD. Was due for profit taking as no news. This is healthy imho. May retrace to 72-73 in a worst case but if good news it won't.


----------



## chris1983 (25 April 2007)

Currently in Germany they are .53 Euro.  Where do you convert your currencies Halba?  I use

http://www.xe.com/ucc/

0.53 EUR	=	0.870957 AUD

Traded at decent volume of 854,972 shares

The ask is 

0.549 EUR	=	0.902265 AUD

Holding pretty well.  If they could consolidate in the low to mid 80's I'll be happy.  I still think there will be an update soon so this whole consolidation period could get thrown out the window and we will see them push higher.


----------



## nizar (25 April 2007)

Halba said:


> Hammered last night in Germany to 53 euros or 86 cents AUD. Was due for profit taking as no news. This is healthy imho. May retrace to 72-73 in a worst case but if good news it won't.




So consolidation is okay, as long as its above your purchase price?


----------



## chris1983 (25 April 2007)

nizar said:


> So consolidation is okay, as long as its above your purchase price?




I think a bit of consolidation doesn't hurt because its holding the longterm trend.  Fundamental analysis also shows its still undervalued to its fellow Namibian uranium explorers..which is of course my own opinion. I think its way undervalued and has lots of room to move..but hey I could be wrong.


----------



## Go Nuke (25 April 2007)

I love the shape of this new chart.

I think the MACD is getting quite high, combined with that whole "May" thing were it turns to a sea of red theory, so will settle down soon..though Its good to see that its going to set a new base of resistance.

This is to try out my upload of the chart..hope it works
Thx Kennas.

Sorry if it doesn't work..first try..lol.


----------



## svensk (30 April 2007)

What are peoples thoughts on the just released report?

The recent lowering of the sp has been scaring me, hopefully this brings her back up.


----------



## chris1983 (30 April 2007)

Its good.  Patience will bring further rewards.  They are progressing everything as planned.  The recent drop in SP is normal.  It was time for some consolidation.


----------



## juli (30 April 2007)

http://www.asx.com.au/asxpdf/20070430/pdf/31266lmy3nfmd0.pdf

Is this positive according to your opinion?


----------



## Sean K (2 May 2007)

Has formed a new wider upward channel with the recent break through 80 cents. Falling back rather rapidy which is only slightly concerning if thinking about buying back in. Green circle is where I'll look at it again I think, pending overall market. MACD looking ordinary, but you'd expect that at the moment. Stochs moving to oversold. I'll be waiting for that to turn around I think. Falling on low volume is a good sign. Having said that with a correction imminent (maybe) risky jumping whole heartedly into explorers IMO.


----------



## svensk (2 May 2007)

Looks very similar to the chart I posted a few pages back. Perhaps I should have listened to myself and exited my position, giving an opportunity to reenter in the upcoming week.

Live and learn  

Support looks likely at around 0.72, like you mentioned. Hopefully it will hold steady.


----------



## chris1983 (2 May 2007)

Investors will love to pick these up cheap..fact is there are hardly any sellers.  You have done well if you can get them in the mid 70's


----------



## JWBH01 (2 May 2007)

However I don't think holders like to see the fall in the SP.  I know I definitely don't.  Everytime it drops I question whether I should have sold some off but I have kept holding because I am hoping this can be the share that makes and hopefully doesn't break me.


----------



## chris1983 (2 May 2007)

JWBH01 said:


> However I don't think holders like to see the fall in the SP.  I know I definitely don't.  Everytime it drops I question whether I should have sold some off but I have kept holding because I am hoping this can be the share that makes and hopefully doesn't break me.




If you dont believe in fundamentals and the long term prospects by all means sell.  You should take the short term approach.  Get your profit and get out.  It rather annoys me to see investors questioning themselves to whether or not they should of sold.  The SP fluctuates.  It never goes up in a straight line.

Nothing has changed.


----------



## svensk (2 May 2007)

The point is chris it isn't investors worrying, it's the short term traders. The same could be said about bmn. The recent retracement worries alot of the traders, as all retracements do when you're a short term trader going long.

I'm no fundamental analyst, so the charts are all I have. And the charts currently tell me to sell. If/when it hits support and bounces, then this tells me to buy. And given your and others optimism, i'm sure it will.


----------



## JWBH01 (2 May 2007)

chris1983 said:


> If you dont believe in fundamentals and the long term prospects by all means sell.  You should take the short term approach.  Get your profit and get out.  It rather annoys me to see investors questioning themselves to whether or not they should of sold.  The SP fluctuates.  It never goes up in a straight line.
> 
> Nothing has changed.




I understand what you are saying Chris and I believe in this stock and intend to be a long term holder but it's the phsycological side of things that I find it hard to deal with.  I am always thinking about the what ifs and the changes in the SP never help me.  I guess it's something I will get with experience.


----------



## chris1983 (2 May 2007)

JWBH01 said:


> I understand what you are saying Chris and I believe in this stock and intend to be a long term holder but it's the phsycological side of things that I find it hard to deal with.  I am always thinking about the what ifs and the changes in the SP never help me.  I guess it's something I will get with experience.




JB do what I do.  Sell enough shares to free carry the rest..You then don't need to worry..you can take it easy and watch the company progress.  Especially if you get worried on the dips..some investors get really worried..I just trust my research.  I know it can be very hard at times.  All the best.


----------



## JWBH01 (2 May 2007)

Chris,  i will free carry but I was waiting for SP to hit a a certain price.  I want to be able to free carry a fair portion of my holding.  They say it's all about greed and fear and it holds true for me.

Hopefully we all get what we want in the long run.


----------



## chris1983 (2 May 2007)

JWBH01 said:


> Chris,  i will free carry but I was waiting for SP to hit a a certain price.  I want to be able to free carry a fair portion of my holding.  They say it's all about greed and fear and it holds true for me.
> 
> Hopefully we all get what we want in the long run.




Im also looking to free carry.  My price target is substantially higher than the current price before I do decide to sell some.  I also will have to make sure I have held for a year..tax reason.  I will sell a few ern it hits that target though..

There is always another one that will run.  It allows me to diversify and still hold onto a decent parcel like what your aiming to achieve .


----------



## timelord (2 May 2007)

JWBH01 said:


> However I don't think holders like to see the fall in the SP.  I know I definitely don't.  Everytime it drops I question whether I should have sold some off but I have kept holding because I am hoping this can be the share that makes and hopefully doesn't break me.




ditto - I haven't developed the skills to buy at the top and reenter at the bottom.  Usually I do  things  the other way round.  I hope sitting this out with other stock like BMN will prove positive.


----------



## chris1983 (4 May 2007)

Recovering nicely now.  Was sold off on low volume.  Whats the likelyhood of it moving back into the 70's?  It seems to have had the "retrace it had to have" due to getting overheated on the technical aspect.


----------



## svensk (4 May 2007)

Awesome day so far. Started a little wobbly (low of .76), but in the past half hour it has taken off.


----------



## Sean K (4 May 2007)

chris1983 said:


> Recovering nicely now.  Was sold off on low volume.  Whats the likelyhood of it moving back into the 70's?  It seems to have had the "retrace it had to have" due to getting overheated on the technical aspect.



Still could IMO. 70 is still the real support, although 75 ish has now turned into weak support. Still early in the day to say what's going on really. I managed to pick some up yesterday in the mid 70s which I was comfortable with.


----------



## Punter (4 May 2007)

kennas said:


> Still could IMO. 70 is still the real support, although 75 ish has now turned into weak support. Still early in the day to say what's going on really. I managed to pick some up yesterday in the mid 70s which I was comfortable with.




a reading of the quarterly report indicates drilling to commence "early may". Also found high scintillometer counts over several prospects.

After all BMN failed in their bid to secure ERN's licenses. Back in 2005, BMN did ask namibian govt for ERN's licenses, but they were rejected as they asked for too many. So they must be good.


----------



## chris1983 (4 May 2007)

kennas said:


> Still could IMO. 70 is still the real support, although 75 ish has now turned into weak support. Still early in the day to say what's going on really. I managed to pick some up yesterday in the mid 70s which I was comfortable with.




Okay now you must hold and fight the temptation to sell on the next 15/20 cent rise.  Follow the fundamentals


----------



## svensk (4 May 2007)

chris1983 said:


> Okay now you must hold and fight the temptation to sell on the next 15/20 cent rise.  Follow the fundamentals




Chris, your optimism always warms my heart  Although that's a mighty temptation to withstand 

Volume is up considerably relative to the past few days. Perhaps the bulls are regaining dominance?


----------



## chris1983 (4 May 2007)

svensk said:


> Chris, your optimism always warms my heart  Although that's a mighty temptation to withstand
> 
> Volume is up considerably relative to the past few days. Perhaps the bulls are regaining dominance?




Svensk..You must be a trader/chartist like kennas if you think thats a hard temptation to withstand ..I was in at an avg of 47 cents..you would of sold and ran away at 67...  This one has so much land coverage in namibia with a historical proven deposit.  I feel rather confident with it.  You must also fight the temptation to sell.


----------



## Rafa (4 May 2007)

Chris,
i think its good to have a mix of long termers and trend traders...
gives everyone then a choice of what to do... and it allows longtermers the oppurtunity to add stock when it gets oversold.

whilst i have a couple of 'long term stocks' it is still important that they adhere to the major trend and support lines.


----------



## chris1983 (4 May 2007)

Rafa said:


> Chris,
> i think its good to have a mix of long termers and trend traders...
> gives everyone then a choice of what to do... and it allows longtermers the oppurtunity to add stock when it gets oversold.
> 
> whilst i have a couple of 'long term stocks' it is still important that they adhere to the major trend and support lines.




Dont worry I will flog a stock when it breaks down terribly.  I havn't had one of late that has broken all support lines.  Trusting the fundamentals has been good to me lately.  AGM/AOE/ERN/BMN/ECH.

What I do though is always sell enough to free carry holdings.  I have also had my quick plays like FXR/WMT/NWR/TMR.  I usually do try to hold though and ERN fits the criteria for a long term hold.  Thats just my opinion.


----------



## Punter (4 May 2007)

SXR paid 3bn for urasia energy $35/lb

PDN paid $1.3bn for SMM $35/lb

No tech bubble here. These guys are paying billions to secure uranium supply. It is scarce right now. Look at the nickel market for comparison on what happens to a scarce metal. Uranium is a metal too, and will be traded like nickel from next week onwards.


----------



## svensk (4 May 2007)

Weren't there more posts here before? Did the argument get a little heated?  

Anyway, the surge seems to have died down now. But overall today was excellent. Broke out of the retracement on excellent relative volume. It will be interesting to see what happens come monday.


----------



## chris1983 (4 May 2007)

svensk said:


> Weren't there more posts here before? Did the argument get a little heated?
> 
> Anyway, the surge seems to have died down now. But overall today was excellent. Broke out of the retracement on excellent relative volume. It will be interesting to see what happens come monday.




Kennas and I are fine   It was better to remove the posts.  No value adding to the thread.  It was a good move by ERN..and I'm happy with today.  Of course i want to see it smash the high of 94 cents..but that should eventually come..specially if it holds its trendline which it looks to be doing.


----------



## Sean K (4 May 2007)

chris1983 said:


> Kennas and I are fine   It was better to remove the posts.



Yep, when we start going the man and not the ball, it's time to cool it.  

One thing that close followers of ERN would have noticed that it has rarely finished on it's low of the day in recent weeks. Every time it dips intra day buyers come in to support it and push the price back up. Even on the down days. That is a good sign to me.


----------



## Punter (4 May 2007)

Haha kennas yep I noticed that. Now the Germans will be looking at what you wrote just now in the German forum lol lol


----------



## Punter (8 May 2007)

Thread seems quiet of late...but notice of substantial shareholder notice out:

Marble Bar Asset Management LLP has taken a stake in ERN..been buying on the market since the 60s...They have been supporting the share price. They are a hedge fund partly owned by Lehman brothers europe, and it looks as if the big boys have arrived(hopefully to stay for a nice ride?).

This is an IMMENSE vote of confidence in ERN.


----------



## captjohn (8 May 2007)

Punter said:


> Thread seems quiet of late...but notice of substantial shareholder notice out:
> 
> Marble Bar Asset Management LLP has taken a stake in ERN..been buying on the market since the 60s...They have been supporting the share price. They are a hedge fund partly owned by Lehman brothers europe, and it looks as if the big boys have arrived(hopefully to stay for a nice ride?).
> 
> This is an IMMENSE vote of confidence in ERN.




Thanx punter,
for ya research into this.....& the buy in sounds they are confident in good results down the track.

ERN certainly has top  radiometrics & location.

Also relatively low number of shares on issue too !!

Very quiet day today on the western front..yawn yawn


----------



## captjohn (8 May 2007)

Bong bong...alert!!  

*Notice on ASX...ERN commences drilling    Yippee*!!

Now we'll find out what's down below!


----------



## chris1983 (8 May 2007)

captjohn said:


> Bong bong...alert!!
> 
> *Notice on ASX...ERN commences drilling    Yippee*!!
> 
> Now we'll find out what's down below!




haha yeah thats some good news atleast..something to look forward to now.  Should be a very interesting 6 months coming up


----------



## chris1983 (8 May 2007)

captjohn said:


> Bong bong...alert!!
> 
> *Notice on ASX...ERN commences drilling    Yippee*!!
> 
> Now we'll find out what's down below!




They state in their announcement..

_"initial drilling results are expected to be released by the end of may"_

so soon??


----------



## Punter (8 May 2007)

captjohn said:


> Bong bong...alert!!
> 
> *Notice on ASX...ERN commences drilling    Yippee*!!
> 
> Now we'll find out what's down below!




Look at the extension to the zone- 1800m by 1000m now!! wow!! To 100m as well. This could be a big deposit!


----------



## Punter (8 May 2007)

Where has everyone gone? Surprised by the absence of interest. Just seems like the BMN Band of brothers on ERN for a side show!!  right captn?


----------



## Broadside (8 May 2007)

Punter said:


> Where has everyone gone? Surprised by the absence of interest. Just seems like the BMN Band of brothers on ERN for a side show!!  right captn?




Still holding my ERNO's tight, thus far they have delivered but I think it's only the start.  Looking forward to drilling results.


----------



## bigt (8 May 2007)

Well I'm very excited by this milestone being passed...and a little apprehensive as to the results...make or break for some...end of May?? That is very soon, and demonstrates the right attitude by management to take advantage of the rising U price and subsequent sentiment. They really dont seem to make a song and dance about anything eh? Just solid info.


----------



## Punter (8 May 2007)

bigt said:


> Well I'm very excited by this milestone being passed...and a little apprehensive as to the results...make or break for some...end of May?? That is very soon, and demonstrates the right attitude by management to take advantage of the rising U price and subsequent sentiment. They really dont seem to make a song and dance about anything eh? Just solid info.




They might be using downhole gamma ray logging, so that explains the soon ness nature of the results?


----------



## chris1983 (8 May 2007)

Punter said:


> they might be using downhole gamma ray logging, so that explains the soon ness nature of the results?




I would think so.  Unless they were secretly drilling 3 months ago and the drill cores are being analysed at the labs allready .  Im not being serious btw..just in case someone reads that and goes.. "ohh wow maybe your right!"  Anyway I think its downhole gamma ray logging also.

Looks good.  Going ahead as planned.  Large tonnage low grade is fine with me.  If uranium spot continues to rise..which most of us feel will happen..these resources are looking excellent for development.


----------



## captjohn (8 May 2007)

Punter said:


> They might be using downhole gamma ray logging, so that explains the soon ness nature of the results?





That's just what I need,  some ..."down hole gamma ray logging"    Hmmmmm ??....sounds good!!
Trying to top up at 83 but got jumped over...oh well....still got a nice parcel.

I'd reckon these Lehmann brothers already know what ERN has got  ....big coincidence they buy in .... then bingo   a drilling announcement!! ..still great to have them on .....shows confidence !!


----------



## Go Nuke (8 May 2007)

Punter said:


> Where has everyone gone? Surprised by the absence of interest. Just seems like the BMN Band of brothers on ERN for a side show!!  right captn?




ERN is just as exciting to me as BMN
Ive just been sitting back watching the sp follow its nice pattern. Its almost so predictable.

Ive no intention of selling..and no money to buy more..so really ERN ITSELF has been quiet.
Im looking foward to the inital results at the end of May...though I bet they come out in early June. Im not that confident when companies put a timeline to their findings these days.
With so much going on in the Uranium industry, there are backlogs everywhere it seems


----------



## nizar (8 May 2007)

chris1983 said:


> They state in their announcement..
> 
> _"initial drilling results are expected to be released by the end of may"_
> 
> so soon??




Yeh i dont like this.
Better to underpromise and overdeliver - suprise the market on the upside.

But now early June if no results are out, the share price will probably show weakness, and even when the announcement is released, share price may suffer even if news is good, as investors/traders become inpatient.

Poor PR in my opinion...


----------



## chris1983 (8 May 2007)

nizar said:


> Yeh i dont like this.
> Better to underpromise and overdeliver - suprise the market on the upside.
> 
> But now early June if no results are out, the share price will probably show weakness, and even when the announcement is released, share price may suffer even if news is good, as investors/traders become inpatient.
> ...




What if they deliver though?  The management is pretty good at ERN.  It will show they are very trust worthy.  They really havent put a foot wrong since they begun this operation.  It will be interesting.  I think they know they have more than enough time to to the down hole gamma ray readings which is why they stated the results would be ready by that time.


----------



## ta2693 (12 May 2007)

Why can not I find the name of Lethman bro in recent released top 20 shareholder list? Strange. The ann on 8/5/2007 said Lethman bro become a new substantial shareholder.


----------



## bigt (14 May 2007)

What's with the 1 seller offloading 120 000 erongo at 79c - top of the sellers list?

Looks a little strange. Any thoughts? Do they want to drive the price down, pull their bid at last minute? I know all conjecture, but why would someone do this?


----------



## kevro (14 May 2007)

Might be mind games happening BigT. Someone has also wacked 600k at 60c on the oppies as well.

Kevro


----------



## LPA (14 May 2007)

Could it not also be people who have made significant profit and want to lock it in if the share price stays stagnant/lowers?


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## chris1983 (15 May 2007)

LPA said:


> Could it not also be people who have made significant profit and want to lock it in if the share price stays stagnant/lowers?




Course it could be.  With news pending by the end of the month some investors may not be willing to wait and see what happens.  I think ERN will have another large tonnage low grade resource though.  Based off peer comparisons with other uranium explorers in Namibia I believe ERN could move a lot higher.


----------



## kevro (15 May 2007)

LPA said:


> Could it not also be people who have made significant profit and want to lock it in if the share price stays stagnant/lowers?




In the case of the options he sucked in two sellers who went under him and then just prior to opening he pulled the 600k sell offer.


----------



## svensk (18 May 2007)

Recent Sp movement is concerning. The upcoming drilling results really need to help lift the price, as it's looking rather grim recently.

Chris, we need some reassuring words


----------



## chris1983 (18 May 2007)

svensk said:


> Recent Sp movement is concerning. The upcoming drilling results really need to help lift the price, as it's looking rather grim recently.
> 
> Chris, we need some reassuring words





um.... 

patience..they are drilling out a historic resource just as Bannerman has done.  Will be another large tonnage low grade uranium resource. From the historical data I have seen it looks very decent for Namibian standards and should be more than profitable? Put them away and dont watch them..


----------



## Synergy (21 May 2007)

Looks to be some games going on here this morning. A big buy order well above the going price. Is it likely to run this far out from news?


----------



## Sean K (21 May 2007)

Still finding support each time it drops intraday which is encouraging. Support just above 75 cents for the minute but I wouldn't be surprised if it made it back to 70 support which is around the uptrend suport line also.


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## bigt (25 May 2007)

Looking strong at the moment on a bad day for the market and U stocks.

Won't take much to push this through the previous high, esp. with results on their way shortly.


----------



## captjohn (25 May 2007)

bigt said:


> Looking strong at the moment on a bad day for the market and U stocks.
> 
> Won't take much to push this through the previous high, esp. with results on their way shortly.




Nice breakout & macd has crossed to the upside...touched 88.5  on good volume
...maybe results soon??


----------



## sydneysider (25 May 2007)

captjohn said:


> Nice breakout & macd has crossed to the upside...touched 88.5  on good volume
> ...maybe results soon??





Results coming next week on first five holes drilled as twins next to old Goldfield holes (those were percussion and drill cuttings are lost). IMHO ERN is a BMN twin and the results may suprise to the upside. Technicals look very bullish MACD has turned positive and OBV has been trending positive by 10 million shares in the last eight weeks. Issued shares are only 45 million and tightly held so we could get a very bullish result after the breakout above the all time hi of 94.


----------



## Sean K (25 May 2007)

Pretty positive move in todays market. Sellers running thin. 

I wouldn't call it 'breaking out' though. It's just trending upwards. Even breaking all time high won't be much of a breakout, as that's well within the trend channel. MACD looks good but Stochs is getting overbought and if you look at the Bollinger Band overlay, it's almost poking through the top band. 

The only thing really good about this move is that the general market is down a little, and there's not many sellers. Finishing EOD strong at all time high, and I _might _crack a vino.


----------



## dj_420 (25 May 2007)

hey guys jumped on today, like this one a lot, have been witing for perfect entry missed out on high 70's a couple times, bit the bullet and jumped in, only on half an order though in case of weakness


----------



## captjohn (25 May 2007)

Kennas,when I draw a trendline  I take the line with the most 'touches'!
So My line  is  1. all time high...then 2. it touches may 8th. 87 cent close ..& then  3 .yesterdays close..so 3 points are a trend line.....will you draw that in please to see how it looks.....thanx  cheers


----------



## Sean K (25 May 2007)

captjohn said:


> Kennas,when I draw a trendline  I take the line with the most 'touches'!
> So My line  is  1. all time high...then 2. it touches may 8th. 87 cent close ..& then  3 .yesterdays close..so 3 points are a trend line.....will you draw that in please to see how it looks.....thanx  cheers



You can play it like that if you like, and I suppose you could call it a _short term _'breakout', but when you're playing longer term, like I think you are, don't you need to work off longer time frames to establish trends. IMO, the past few days does not make a 'trend'. Could easily fall over on Monday, but still be in the longer term uptrend base now around 75 ish cents. Short term trading you obviously use shorter time periods, but I don't think we're doing that here.


----------



## captjohn (25 May 2007)

Ah kennas you can open that vino now......closed at all time high.....& I still reckon the sp has 'broken out of its trading range'


----------



## Sean K (25 May 2007)

captjohn said:


> Ah kennas you can open that vino now......closed at all time high.....& I still reckon the sp has 'broken out of its trading range'



I have an all time high of 94 cents. Not quite sure what 'range' it's broken, capt. IMO it's been going sideways since Apr 1. When it breaks 94, then it's going up and not sideways. That's the problem with TA. Everyone sees what they want to see. I'll open a vino anyway.


----------



## captjohn (25 May 2007)

that day of the 94 high  the *closing price was 88.5*....

I also use Wilders Parabolic S&R. 
IMO when sp stays above the little dot.....there is a 'break out' from the trading range.
Anyway,please lets stop splitting hairs here......as we're all very happy to see ern off trending up again.
...& with some good drilling news shortly..


----------



## nizar (25 May 2007)

captjohn said:


> that day of the 94 high  the *closing price was 88.5*....
> 
> I also use Wilders Parabolic S&R.
> IMO when sp stays above the little dot.....there is a 'break out' from the trading range.
> ...




Sorry captain on the day just before that 94 high day there was a close of 91c, well thats what i can see on the charts.

So its not quite a closing high.... YET.

But its looking bullish for this stock.


----------



## captjohn (25 May 2007)

Arghhh Nizar, No ration of rum for ye tonite from capt.yellowcake aka captjohn !!

   I noticed that after I'd posted my reply...& hoping kennas would be into his second bottle about now & not see it on his chart. haha
....hic hic.
And of course,come monday sp has to stay up there to confirm our theories...
I'll open me third bottle o'rum now


----------



## Go Nuke (25 May 2007)

nizar said:


> Sorry captain on the day just before that 94 high day there was a close of 91c, well thats what i can see on the charts.
> 
> So its not quite a closing high.... YET.
> 
> But its looking bullish for this stock.




I see a close of 91c also

I cant seem to reduce the size of this picture unfortunately
Thats what i get for being just a tradesman.


----------



## chris1983 (25 May 2007)

Happy to be holding.  Stop trying to read the little breakouts up and down.  Just buy and hold based off fundamentals 

Results should be out next week.  All we need is confirmation of drilling results and we have a decent size resource straight off the bat.  Very simple.  Look at the market cap..still very cheap.


----------



## sydneysider (26 May 2007)

kennas said:


> You can play it like that if you like, and I suppose you could call it a _short term _'breakout', but when you're playing longer term, like I think you are, don't you need to work off longer time frames to establish trends. IMO, the past few days does not make a 'trend'. Could easily fall over on Monday, but still be in the longer term uptrend base now around 75 ish cents. Short term trading you obviously use shorter time periods, but I don't think we're doing that here.




Kennas,

IMHO your interpretation of the chart action is very conservative and i believe that we may be in the early stage of a very major re-rating. Something similar may occur here as happened at AGY. Central Africa is "very hot" in exploration terms with lots of deals underway at very high prices. ERN is valued at around A$45 million for an extremely attractive u play and IF the first set of drilling results "match" the 30 year old u assays then the buy pressure will turn very bullish. ERN could easily carry a +A$100 million market cap and still look undervalued within its international peer group. They are drilling on targets that have enormous appeal to various u takeover predators and look much "hotter" than recent takeover target OMC (as a nearby example).


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## chris1983 (26 May 2007)

This information was found out by Halba some time ago.  It could of been the reason for the price action of Erongo on the Aussie market aswell as the German exchange.  It also could be due to results pending.  Anyway it closed strogn at .59 euro.

_"Mark Gasson is presenting at the zurich conference.

http://www.ir-conference.com/public/text.asp?sid=2&mm=36&msub=30&lid=2&mid=3630"_

0.59 EUR	=	0.968629 AUD


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## captjohn (26 May 2007)

sydneysider said:


> Kennas,
> 
> IMHO your interpretation of the chart action is very conservative and i believe that we may be in the early stage of a very major re-rating. Something similar may occur here as happened at AGY. Central Africa is "very hot" in exploration terms with lots of deals underway at very high prices. ERN is valued at around A$45 million for an extremely attractive u play and IF the first set of drilling results "match" the 30 year old u assays then the buy pressure will turn very bullish. ERN could easily carry a +A$100 million market cap and still look undervalued within its international peer group. They are drilling on targets that have enormous appeal to various u takeover predators and look much "hotter" than recent takeover target OMC (as a nearby example).




Yes,Sydneysider....Central africa is " very hot "..  & will get hotter especially namibia, coz now a closed shop on EPL's !!
Also russia & china are buttering up the nam. govt. with presents like "we'll build you a nuclear power  plant...just for starters!(see stockinterview.com article )
The editor ,james finch,has just asked me to be his 'clark kent' here to identify all 'Oz listed U explorers in namibia. 
I've got about 7 so far & hoping *Ern *has positive results for the editor to include in his article next week! 

Uramin & forsys are odds on favorites for the"Yellowcake Cup" for the next producing mine in namibia ,then bmn (closing fast ) jumping straight into BFS...& after that who knows?....maybe *Ern* , can 'break out' from the mob, [there's that bloody 'breakout' word again].hehe
followed quickly by ;  dyl, nel, wme,  & ext  (running last) but won the 2006 'dilution stakes')..haha..


----------



## chris1983 (28 May 2007)

Latest presentation is below.  This was released to International investors in Zurich on Friday.  Its on their website.  Good overview of what they have.  I think we could see Erongo push through $1 soon.  It had very strong buying in Germany on Friday.

http://www.erongoenergy.com.au/files/announcements/Erongo_Energy_Presentation_May2007[F].pdf


----------



## captjohn (28 May 2007)

chris1983 said:


> Latest presentation is below.  This was released to International investors in Zurich on Friday.  Its on their website.  Good overview of what they have.  I think we could see Erongo push through $1 soon.  It had very strong buying in Germany on Friday.
> 
> http://www.erongoenergy.com.au/files/announcements/Erongo_Energy_Presentation_May2007[F].pdf




Most base metals had big gains also & u.s. market up ....so all the indicators there to help rise up .......even tho' U308 can have a mind of its own......


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## chris1983 (28 May 2007)

Just for those who think $1 seems a bit far.  Here is why Erongo could easily hit a dollar today.  Directors said drill results would be pending in late May.  There are presentations happening in Zurich atm and the price has the equivelant of 97 cents AUD in Germany and they are trending up on the charts.  Its threatening a breakout right now.  I hope this goes to show everyone that ERN look very likely to break this mark in the up and coming weeks even days with all this activity happening.  $1 is only a little jump from current prices..the real goal will be staying above this price level.


----------



## timelord (28 May 2007)

chris1983 said:


> Just for those who think $1 seems a bit far.  Here is why Erongo could easily hit a dollar today.  Directors said drill results would be pending in late May.  There are presentations happening in Zurich atm and the price has the equivelant of 97 cents AUD in Germany and they are trending up on the charts.  Its threatening a breakout right now.  I hope this goes to show everyone that ERN look very likely to break this mark in the up and coming weeks even days with all this activity happening.  $1 is only a little jump from current prices..the real goal will be staying above this price level.




This would be  great.  As a small time investor, I have invested in BMN and ERN mainly and it would be nice to see both trending upward more regularily.


----------



## chris1983 (28 May 2007)

timelord said:


> This would be  great.  As a small time investor, I have invested in BMN and ERN mainly and it would be nice to see both trending upward more regularily.




The results supposedly to be released in late May (this week) will confirm the historical data.  It wont be long after that untill they can report an interim resource.  The historically drilled area is not a small area also.  they should have a decent size resource straight off the bat.  Looking forward to the confirmation of historical data.


----------



## Sean K (28 May 2007)

chris1983 said:


> The results supposedly to be released in late May (this week) will confirm the historical data............. Looking forward to the confirmation of historical data.



I'm also looking forward to them producing this. I think we're all a bit skeptical of their ability to start drilling and then get some results out so fast while others have overrun by not days or weeks but even months. If they can pull it off, them well done!! They have till Thursday, or cred wanes. I agree with you on momentum with this Chris. Just needs to keep in the uptrend to get to $1. (of course) Risk is to drop through that bottom support line previously posted. Fair way off that atm.


----------



## chris1983 (28 May 2007)

kennas said:


> I'm also looking forward to them producing this. I think we're all a bit skeptical of their ability to start drilling and then get some results out so fast while others have overrun by not days or weeks but even months. If they can pull it off, them well done!! They have till Thursday, or cred wanes. I agree with you on momentum with this Chris. Just needs to keep in the uptrend to get to $1. (of course) Risk is to drop through that bottom support line previously posted. Fair way off that atm.




Another good point.  It is a very short time frame.  Im watching closely.  I hope they do have something to announce this week.  There can always be hold ups.  We will be able to see if Management were getting a little excited with their time frames if we dont get an announcement.


----------



## captjohn (28 May 2007)

chris1983 said:


> Another good point.  It is a very short time frame.  Im watching closely.  I hope they do have something to announce this week.  There can always be hold ups.  We will be able to see if Management were getting a little excited with their time frames if we dont get an announcement.




Ern rising slowly but surely.....confirming 'breakout' in my opinion...just hit 95.....maybe the magic dollar by days end & close at 'all time high'.....hey kennas ..I'll try again to be right..but gee I'm sometimes wrong..but very happy with this.   no sellers until the $1....yet!


----------



## chris1983 (28 May 2007)

captjohn said:


> Ern rising slowly but surely.....confirming 'breakout' in my opinion...just hit 95.....maybe the magic dollar by days end & close at 'all time high'.....hey kennas ..I'll try again to be right..but gee I'm sometimes wrong..but very happy with this.   no sellers until the $1....yet!




Looking real strong   Not much left under a dollar.  Go the erongo!  As predicted its continuing to move up to that dollar mark.


----------



## Go Nuke (28 May 2007)

Well i dont think its going to be a disappointing ann about what U they have in the ground.

I know radiometrics dont *confirm* a resource as such, but I certainly liked what i saw. Especially how they rated it against the Henrich and Rossing mines

Initial Area 1 covers 800m by 250m. Is this the only area they are drilling?

Because the mineralized zone of Area 1 is open to the Northeast, West and South!

Initial Scintillometer testing confirms the resourse covers approx 1.8kms by 1km

Or are they drilling more of this anomaly?
Good news is they will start drilling on Area 3 after this drilling at Area 1

IMO I think it will easily push through the $1 when the results are released.

More low grade large tonnage Uranuim Just like Bannerman i suppose.

Here's a thought. I read someone say that BMN wanted the tennament that ERN has but weren't allowed to have it.
Perhaps if someone looks to takeover or take a big stake in ERN {like Areva did with SMM} then it could be a sign of things to come for Bannerman {though I hope not}
I'm probably dribbling crap though...I know little:iamwithst


----------



## captjohn (28 May 2007)

Go Nuke,...dribble all you like  coz sp just cracked the dollar ...on over 60,000 @ the dollar...... so going real strong....in fact getting too high for the day....maybe a speeding ticket from the ASX....


----------



## Go Nuke (28 May 2007)

captjohn said:


> Go Nuke,...dribble all you like  coz sp just cracked the dollar ...on over 60,000 @ the dollar...... so going real strong....in fact getting too high for the day....maybe a speeding ticket from the ASX....




Do you think an increase of 11% would warrant a speeding ticket?

It will just be the standard response anyway..."No..we dont know why our share price has gone up" Although it IS because the results are due.

Im not sure that i will finish the day $1 even or higher...but thats not a complaint.

At least one of my shares is going in the right direction.
My Biostcks are getting a hammering


----------



## Sean K (28 May 2007)

15% is the figure ASX looks for to issue a ticket, unless there's piles of companies that are over that and they haven't got time to issue them all. Not sure on volume..

Market cap approaching $80m. Probably still room to move when compared with the other explorers about the region. (BMN will be back there soon ) Wonder what the market will be happy with....


----------



## chris1983 (28 May 2007)

Well it feels good to be right on the money.  Hit the $1 mark and is in blue sky territory now.  Definately something a brewing.


----------



## Rafa (28 May 2007)

kennas said:


> Market cap approaching $80m. Probably still room to move when compared with the other explorers about the region. (BMN will be back there soon )




Very Cheeky Kennas 

some big buyers sitting under $1.... 
Volums OK, nothing flash, but at all time highs, albiet well within the existing channel.

having picked this one over ECH... its been a long painfull last few weeks... and there is still a long way to go...


----------



## chris1983 (28 May 2007)

Rafa said:


> Very Cheeky Kennas
> 
> some big buyers sitting under $1....
> Volums OK, nothing flash, but at all time highs, albiet well within the existing channel.
> ...




Raf this one will do as well or even better than ECH.  ECH also have strong management..they have released a steady flow of positive announcements.  I hold ECH so of course I want it to continue its upwards run but I do feel Erongo is considerably undervalued.  Its coming up to its true value.  I expect further gains as the historical data is verified.  I am almost 100% confident it will be verified.  The companies who did the previous drilling were respected so I think its a gimme.  Just my own opinion.


----------



## Caliente (28 May 2007)

Hey chris - been looking at the ERN story for the past couple of days. Chart and Fundamental wise, things are shaping up really nicely. 

I'm thinking about getting in - is now a good time? Of course it is 

But what are the short term price drivers going to be?

Cheers
-Cali


----------



## boy_888 (28 May 2007)

what happens if they can't release the results by the end of the month. the sp could cool of a little, as many are buying in anticaption of a release of the results.


----------



## chris1983 (28 May 2007)

Caliente said:


> Hey chris - been looking at the ERN story for the past couple of days. Chart and Fundamental wise, things are shaping up really nicely.
> 
> I'm thinking about getting in - is now a good time? Of course it is
> 
> ...




Hi Caliente.  I think this stock could easily run further once historics are confirmed.  If it is confirmed we have a decent size resource as I have been stating earlier.  Like others have mentioned this could fall back if we dont get results some time this week as investors are anticipating an announcement.  I guess it could be considered a "risky" time to buy in right now but Im holding long and I believe if you hold long there are further substantial profits to be made.  All the best mate if you decide to jump onboard.


----------



## Moneybags (28 May 2007)

Congrats to all holders. And once again well picked Chris. 

I've been watching ERN for a while now and it appears to have the goods. Not keen enough to make an entry just yet as am still overweight in BMN.

Nevertheless I hope it goes well for all holders and especially the BMN band of Brothers.

MB


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## chris1983 (28 May 2007)

Moneybags said:


> Congrats to all holders. And once again well picked Chris.
> 
> I've been watching ERN for a while now and it appears to have the goods. Not keen enough to make an entry just yet as am still overweight in BMN.
> 
> ...




Thanks MB.  All I can say is remain calm with BMN.  If I told you how much I was expecting for my BMN shares it would be considered a ramp so as you can tell I'm expecting a lot.  I'm pretty much just waiting for the final resource estimate to be released.  In my eyes BMN are on the road to glory and ERN are following a very similar path.


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## boy_888 (28 May 2007)

chris do you think that maybe the horse has prematuarly bolted, in anticipation of the results. i hear that these assessment labs have a huge back log of samples to get through overseas, like in the case of WME which is still awaiting overdue lab results.


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## chris1983 (28 May 2007)

boy_888 said:


> chris do you think that maybe the horse has prematuarly bolted, in anticipation of the results. i hear that these assessment labs have a huge back log of samples to get through overseas, like in the case of WME which is still awaiting overdue lab results.




I think initial results will be from down hole gamma ray logging.  This is the only way they could get results out as fast as they say they can.  Still very reliable and will confirm historical drilling.


----------



## boy_888 (29 May 2007)

do you guys think that ERN will be placed in a trading halt, before the announcement is relesed? because time could be at a premium if a halt is used.


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## chris1983 (29 May 2007)

Currently at .617 EUR

0.617 EUR = 1.01439 AUD 

Hit a high of 0.635 EUR

0.635 EUR = 1.04418 AUD 

Do they know something we don't know?


----------



## Pommiegranite (29 May 2007)

chris1983 said:


> Currently at .617 EUR
> 
> 0.617 EUR = 1.01439 AUD
> 
> ...




Unfortunatley, I don't think so.

Germany like the UK has a serious lack of listed exploration stocks. This is why there isn't as much jumping, by investors, from one exploration stock to another = less volatility

Look at how Thor mining performs in Germany compared to Oz, and you'll see a similar story (repeated situation on AIM in UK)

There's simply too much choice here in Oz. Investors are baffled by the amount of choice (I know I certainly am as I don't have a bottomless pit of money to invest). Anyways, this is why there are still a lot of undervalued stocks in Oz.

It's inevitable there will be a shakeout at some point, and the cream will rise to the top


----------



## sydneysider (29 May 2007)

chris1983 said:


> I think initial results will be from down hole gamma ray logging.  This is the only way they could get results out as fast as they say they can.  Still very reliable and will confirm historical drilling.




I totally agree with u. they would have completed this logging after the holes were drilled and only a matter of days to have them vetted and released. bring them on.


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## chris1983 (30 May 2007)

Looking extremely strong.  Touching 1.02.  I'm looking forward to these results..could be a sell down when they are released or it could push a lot higher?  Will be interesting to see what happens.  MC is very decent for an explorer in Namibia with their large land coverage.


----------



## sydneysider (30 May 2007)

chris1983 said:


> Currently at .617 EUR
> 
> 0.617 EUR = 1.01439 AUD
> 
> ...




There is probably some arbitrage going on between the two markets. The German brokers are buying ERN stock trading on the ASX and selling it in Germany with a 5% mark up.


----------



## Mikesta (31 May 2007)

Hey guys,

Long time reader so first time poster.  Sent an email to Erongo and this was what i received.  I guess it's something we already know.

Dear ------------

We expect to receive the first results from our drilling programme in the next few days, and therefore expect to issue a release to the market early next week.



Regards

_________________


Hi,

As a stock holder I’m just enquiring into when the drilling results will be released for the projects in Namibia?


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## chris1983 (31 May 2007)

Mikesta said:


> Hey guys,
> 
> Long time reader so first time poster.  Sent an email to Erongo and this was what i received.  I guess it's something we already know.
> 
> ...






Thanks for the update Mikesta.  One thing I'm not fond of is when a company puts a set time on when results will be due.  Management at Erongo have a lot of experience and I think thats just one little mistake they made by putting a set time for when results would be released to the market.  They must be excited   Still looking forward to results.  It wont change anything.


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## chris1983 (1 June 2007)

Powering on the German exchange.  Its at .68 Euro

0.68 EUR	=	1.10531 AUD

Looking very interesting.  Some large volume buyers went through.


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## Aussi Maddog (1 June 2007)

Looking good, things are hotting up.

Appears volumes are increasing which is very positive.

Hoping for further action on the ASX.


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## Sean K (1 June 2007)

Aussi Maddog said:


> Looking good, things are hotting up.
> 
> Appears volumes are increasing which is very positive.
> 
> Hoping for further action on the ASX.



Welcome Madgog!
What do you mean by 'things hotting up'?
Volumes aren't any different than other periods over the past few months, what do you actually mean here?
Hoping, or 'expecting' further action? And what do you really mean by that?
All the best,
kennas


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## kevro (1 June 2007)

This could be the last shopping day for getting into or topping up on ERN / ERNO. If the announcement with results is out pre open on Monday then if your not in already you may have to join the rush and pay a higher amount (Assuming the results are good. They should be as they are  confirming historical results). Expecting a good day and the early bids are very encouraging.

Kevro


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## Pommiegranite (1 June 2007)

can anyone tell me what the premium is on conversion of Options and expiry date please?............

Thanks


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## Sean K (1 June 2007)

kevro said:


> This could be the last shopping day for getting into or topping up on ERN / ERNO. If the announcement with results is out pre open on Monday then if your not in already you may have to join the rush and pay a higher amount (Assuming the results are good. They should be as they are  confirming historical results). Expecting a good day and the early bids are very encouraging.
> 
> Kevro



Let's not jump the gun kevro. Encouraging people to buy based on your hunch is not the ASF way. This _could _be the way, but it is no certainty. Too early to see how the open will go. The 105 bid could be taken off, or a 110 could come in. Because they're confirming historical results does not mean they will be 'good'. What if the results are poor? Then if you buy now on expectation of 'good' news you'll probably be out of pocket. What if this is a buy the rumour, sell the fact event? Also, there's no guarantee there's going to be news Monday. What if they fail to get news out next week, or even the following week? The waiting may cause a sell off. But of course, you may be correct too. Sorry, but I just need to play devils advocate and keep a balance here. It's my job.


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## nizar (1 June 2007)

kevro said:


> This could be the last shopping day for getting into or topping up on ERN / ERNO. If the announcement with results is out pre open on Monday then if your not in already you may have to join the rush and pay a higher amount (Assuming the results are good. They should be as they are  confirming historical results). Expecting a good day and the early bids are very encouraging.
> 
> Kevro




Oh you reckon?
Every1 thought BMN would go to the moon which its last few announcements, but instead it was dumped.

WHy cant the same thing happen to ERN??

The view iv always maintained is that its hard to know which fundamnetal news/announcements will move the sp. Thats why i trade the price action. Its the only thing that determines my profitability.


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## chris1983 (1 June 2007)

kennas said:


> Welcome Madgog!
> What do you mean by 'things hotting up'?
> Volumes aren't any different than other periods over the past few months, what do you actually mean here?
> Hoping, or 'expecting' further action? And what do you really mean by that?
> ...




Hey Kennas you just need to see the trading overnight on the German market to know there was a lot happening.  It touched .699 euro and finished at .678 euro on I think the largest volume I have ever seen traded over there.

0.699 EUR	=	1.13490 AUD

0.678 EUR	=	1.10080 AUD

The volume was

Volume:	3,747,810

and the average volume traded is usually

Avg Vol (3m):	46,758.4

The Germans are obviously anticipating good results because they really went in hard lastnight.


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## Sean K (1 June 2007)

And just to throw some more perspective in, this chart is throwing up a 'tread with caution' signal to me. Jumping out of the BB at the top of the channel and overbought on stochs. Or, at least it's telling me that there may be consolidation with an opportunity to buy in around the 90 cent mark. Of course, it could ignore this trend too, and go parabolic.


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## Aussi Maddog (1 June 2007)

Just as I mentioned previously last nite. Things are hotting up. Volumes Up, size of trades ++++  

As discussed positive results does not always equate to a positve rise in the share price.

However this is different, ERN limited stock available another huge run on all commodities overnite in the US will help.

The whole region in where Erongo is mining is a hot spot for Uranium (but very low grades) however spot U8O prices makes even low grades economic remember the Gawler Cration a few years ago lots of companies just with leases in region went blue sky then came back to earth, difference here with Erongo is it has the resource as previously proven, the big question is hoe much and how big is the actual resource is.


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## chris1983 (1 June 2007)

There are a lot of buyers lined up above a dollar now.

Just what I like to see.  Want to see it hold above this dollar level..and when the message is released lets hope it doesnt go back like Niz suggested as a possibility.  It could very well do so..but I think if the results are good it will move up a lot higher as the MC is still fair compared to its peers in Namibia.  Bannerman is cheap compared to its peers though and when they release a good announcement it hasn't helped them of late so Ill be watching with interest

Thats just my opinion.  Good luck to holders.


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## sydneysider (1 June 2007)

kennas said:


> And just to throw some more perspective in, this chart is throwing up a 'tread with caution' signal to me. Jumping out of the BB at the top of the channel and overbought on stochs. Or, at least it's telling me that there may be consolidation with an opportunity to buy in around the 90 cent mark. Of course, it could ignore this trend too, and go parabolic.





Overbought stochastics can stay very overbought during a very bullish run especially where she "gaps up" as ERN did this morning.


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## Sean K (1 June 2007)

sydneysider said:


> Overbought stochastics can stay very overbought during a very bullish run especially where she "gaps up" as ERN did this morning.



Yes they can, but not because of a gap up? Well, I haven't read or seen that particular event before anyway, so I'll say you may be right. However, when you add in the break up through the BB and breaking up out of trend, that adds up to me. Having said that, stocks do break out of trend, as this did in the green circle recently. Having said that, days not over yet. Too early to call anything IMO. Apart from the chart still looking great, the MC still looks pretty conservative comparitively, as Chris has mentioned. Although, that doesn't mean 'value' in itself of course. Anyway, rambling...


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## sydneysider (1 June 2007)

kennas said:


> Yes they can, but not because of a gap up? Well, I haven't read or seen that particular event before anyway, so I'll say you may be right. However, when you add in the break up through the BB and breaking up out of trend, that adds up to me. Having said that, stocks do break out of trend, as this did in the green circle recently. Having said that, days not over yet. Too early to call anything IMO. Apart from the chart still looking great, the MC still looks pretty conservative comparitively, as Chris has mentioned. Although, that doesn't mean 'value' in itself of course. Anyway, rambling...




The "gap up" is indicative of a total evaporation of new selling above 1.035 and below 1.05. Must be a big buyer/s in the market prepared to "compete" at 1.05 - 1.06. I suspect that the market will get bullish again this afternoon if volume climbs by another +/-300,000 shares. I suspect that German brokers are buying up blocks of ERN on the ASX and selling them to their European clients with a markup. This is adding considerable strength to the chart pattern.


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## chris1983 (1 June 2007)

sydneysider said:


> The "gap up" is indicative of a total evaporation of new selling above 1.035 and below 1.05. Must be a big buyer/s in the market prepared to "compete" at 1.05 - 1.06. I suspect that the market will get bullish again this afternoon if volume climbs by another +/-300,000 shares. I suspect that German brokers are buying up blocks of ERN on the ASX and selling them to their European clients with a markup. This is adding considerable strength to the chart pattern.




Buyers are chasing this one and chasing it hard.  four buyers for 175,000 shares at 1.07.  Very strong atm.  Im extremely happy with the performance todays..like mentioned earlier lets hope it continues to run after the announcement.


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## juli (2 June 2007)

http://www.stockinterview.com/News/06022007/Uranium-Auctions-Higher-Price.html

Spot Price 11.5 Percent Higher

Does rise and does rise ... this is the new Forsys?

juli


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## chris1983 (3 June 2007)

juli said:


> http://www.stockinterview.com/News/06022007/Uranium-Auctions-Higher-Price.html
> 
> Spot Price 11.5 Percent Higher
> 
> ...




Thanks for that Julie.  Everything is looking good for uranium stocks.  Glad I'm holding a bundle.  Erongo traded higher in Germany lastnight also.  Closed at 0.689 EUR

*0.689 EUR	=	1.11387 AUD*

Also on heavy volume for the second day running.

*Volume:	1,631,878*

Looking forward to results.


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## BankRoller (3 June 2007)

Chris,
ERN is certainly looking promising especially with the high volume in which it has been trading recently. 
Does anyone have an idea as to when the drilling results will be released to the market?


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## chris1983 (3 June 2007)

BankRoller said:


> Chris,
> ERN is certainly looking promising especially with the high volume in which it has been trading recently.
> Does anyone have an idea as to when the drilling results will be released to the market?




Hi Bankroller.  It was supposed to be in the last week of May but it looks as if we may get results some time this week.  The higher volumes in Germany do look very promising.  I follow the trading over there nightly and I havnt seen this type of volume being turned over.  Maybe its all in anticipation of good results.  I guess we have to wait and see what the results reveal.  As posted earlier by Nizar even on a good announcement we could get some investors selling out for a quick buck and pushing the price lower which has happened to Bannerman in the past but I'm holding long on this stock so as long as the results are promising I'll be very happy.


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## Santoro (4 June 2007)

Hmmm ...trading halt, been watching this and reading your posts, good luck to the holders of this stock...


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## Pommiegranite (4 June 2007)

ERN are now on a 2 day Trading Halt !!!

......I wonder what it could be?

.........Good news?


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## allaboutprofits (4 June 2007)

Hopefully, someone can shed some light regarding this Trading Halt...

Other than yes, this could be a good sign vs. a bad sign...

Thank you,...


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## dj_420 (4 June 2007)

assays for first 6 holes recieved, company is putting together press release, maybe get it before wed.

so here we go, if confirmation of historical drilling should be good, better results will be better!

im sure a lot of international investors are waiting for these results prior to jumping in


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## chris1983 (4 June 2007)

dj_420 said:


> assays for first 6 holes recieved, company is putting together press release, maybe get it before wed.
> 
> so here we go, if confirmation of historical drilling should be good, better results will be better!
> 
> im sure a lot of international investors are waiting for these results prior to jumping in




Thats what Ive been waiting for.  Confirmation of historical drilling..same process Bannerman had to take.  Should be interesting.  Thats why there was so much action on the German exchange the past few days.  Investors were getting set.


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## sydneysider (4 June 2007)

chris1983 said:


> Thats what Ive been waiting for.  Confirmation of historical drilling..same process Bannerman had to take.  Should be interesting.  Thats why there was so much action on the German exchange the past few days.  Investors were getting set.




Original (old historical) holes were percussion drilled so it is possible that the core material got somewhat diluted with other "powered stuff" in the hole. There is a decent chance that the current drilling might carry a slightly higher u grade.


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## the barry (4 June 2007)

Also interesting to see that sim went into a trading halt at the same time. Possible jv or something else on the cards?


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## Go Nuke (4 June 2007)

Well im certainly hopeing for some good news and I would guess that others are to with all the buying going on lately.

Ive been told that "the market" generally knows when something is going to happen in theri best interest. Not that im suggesting insider trading or anything

Mind you, lets hope it doesn't do an AGS and plummet after the news comes out and disappoints some who might be expecting too much.
I'll be at work when it comes out of the trading halt anyway...so hopefully I dont come home and find a massive drop in the sp. {Guess that what stops are for}
Ive never had the oppertunity to free carry yet, this is as close as Ive got..lol.

Goodluck to my fellow holders of ERN
GN

:microwave


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## JWBH01 (4 June 2007)

One question about the trading halt and I might get slaughtered for this but anyway I'll ask.  

Why put a trading halt on if they know the news will be well received?  Why not let the rumours run and the Sp take off.  If the news is good the SP will remain higher if not it will drop back, maybe worse than before the release.

Last time they had a trading halt and released news the SP dropped after they started trading again even though the news was positive.

Just interested to know people's thoughts.


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## sydneysider (5 June 2007)

JWBH01 said:


> One question about the trading halt and I might get slaughtered for this but anyway I'll ask.
> 
> Why put a trading halt on if they know the news will be well received?  Why not let the rumours run and the Sp take off.  If the news is good the SP will remain higher if not it will drop back, maybe worse than before the release.
> 
> ...




Lehman had 5% then upped to near 8%. Maybe a takeover bid coming? Namibia are not issuing any more exploration permits for u. We all agree they have some extremely good u property and still represent a great bargain. Any hi class u predator would consider ERN a cheap buy at current prices. IF current u assays are good it will drive up the sp and bring in more investors (hopefully) to crowd out any predator.


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## emily (5 June 2007)

this may be a stupid question but i cant get my head around it.... why do the bids increase when theres a trading halt??


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## allaboutprofits (5 June 2007)

In anticipation of good news from the announcement perhaps?... that's my opinion anyhow...

EDIT: unless you're referring to the pre-open stage while the Trading Halt is in effect...

Regards,

allaboutprofits...


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## Go Nuke (5 June 2007)

emily said:


> this may be a stupid question but i cant get my head around it.... why do the bids increase when theres a trading halt??




Yeah I believe it because people are expecting a good ann and are willing to pay say $1.50 for the share.
Mind you......I did that just recently with Bannerman after they announced initial resource of 27Mil/ lbs. i thought this would be great so bought at $3.47......now look at it.
So I guess it doesn't always pay off


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## professor_frink (5 June 2007)

Hi Go Nuke and emily,

When a company goes into a trading halt, people can place orders that are filled when normal trading resumes, in the same way people can enter orders before the market opens each morning.

Here's how the opening price is calculated-

http://www.asx.com.au/investor/education/basics/open_Close.htm


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## emily (5 June 2007)

but why get all excited and pay 1.50, when the ask if just 1.02 or something.

btw.... results are out !! trading begins ~!


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## Go Nuke (5 June 2007)

Oh well announcements out now and by the looks the market doesn't like it!

Down 18% right now.
I have no idea if I should sell some, all or just sit on them.
I couldn't see it dropping to 58c where i bought at


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## tanga40 (5 June 2007)

Can somebody please shed some light of the announcement. Is it good or bad? The market doesn't seem to like the news, but the info came out just before it closed so maybe it hasn't properly been corrected yet.


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## Santoro (5 June 2007)

Hmmm...didn't that suck much??



Didn't think the news was good or bad...lets see what happens tonight on other exchanges.


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## Pommiegranite (5 June 2007)

tanga40 said:


> Can somebody please shed some light of the announcement. Is it good or bad? The market doesn't seem to like the news, but the info came out just before it closed so maybe it hasn't properly been corrected yet.




Basically too many people wet their pants in anticipation on some amazing drill results. 

The results ending up being par for the course, which long termers are happy with.

Day traders and panickers lose out. Rough Justice

I will top up on the morrow at 91


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## ta2693 (5 June 2007)

I am out at 90c. I have to say the price behavior is very strange. I think it is a stock close monitored by Investo like LB EU. Why it jumped down so sharply after good news? I think there must be something I do not know. 
If it can close the gap between 90 to 110, I maybe wrong.If this share can not close the gap between 90 to 110 tomorrow, I think you know what is going to happen.


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## the barry (5 June 2007)

tanga40 said:


> Can somebody please shed some light of the announcement. Is it good or bad? The market doesn't seem to like the news, but the info came out just before it closed so maybe it hasn't properly been corrected yet.




I wouldn't say it was the greatest results i have ever seen. Low grade and small meterage, would think it might head further south tomorrow as by the run before the announcement the market was expecting better results than this.


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## boy_888 (5 June 2007)

the barry said:


> I wouldn't say it was the greatest results i have ever seen. Low grade and small meterage, would think it might head further south tomorrow as by the run before the announcement the market was expecting better results than this.




were bannermans results at this stage any better? i think this is an opportunity to load up big on ERN. the market has overreacted and oversold the stock for sure!


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## chris1983 (5 June 2007)

the barry said:


> I wouldn't say it was the greatest results i have ever seen. Low grade and small meterage, would think it might head further south tomorrow as by the run before the announcement the market was expecting better results than this.




Its my opinion that this is another low grade large tonnage resource.  Looks fine to me.  Closer to the surface.  The grades confirm the historics.  Namibian uranium plays have been getting hit of late though.  Aussie investors dont seem to like the lower grade large tonnage resources.


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## the barry (5 June 2007)

boy_888 said:


> were bannermans results at this stage any better? i think this is an opportunity to load up big on ERN. the market has overreacted and oversold the stock for sure!




Im not really commenting on the viability of the results, im just stating that in the short term the correlation between the expectations and the actual result aren't in line. The market at present is not valuing the low grade, high tonnage deposits to the potential that some people on here see. The uranium sector as a whole is going to be a wild ride in the coming months/years.


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## Sean K (5 June 2007)

Well, I think there's some positives and negatives about the ann. 

Positives are that there's actually some uranium about at similar grades to current and likely producers in Namibia. Will depend on the tonnage and depth to whether it's going to be economical. At this time depth looks like it's open pittable, so good. 

On the negative side, half the results were poor, which may have been what spooked the market. The one's I've identified on the results below do not make an economical mine. (in my vaste experience of analysing these things. ) They are also well off some of the historical results. Remember, this was supposed to be 25-35m thick. Perhaps these holes were the ones drilled to test extention of the historical resource envelope, but that is not clear. They probably should have stated this I think. 

So, there is work to be done for them to convince the market they have something economical IMO. It's just six holes, and I think that I might be positively on the fence as to whether this gets up and running.


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## chris1983 (5 June 2007)

I personally think the grades are the norm for Namibia.  The average grade is around 230 ppm?  Valencia, Goanikontes and Trekkopje deposits use cut offs of 80ppm and 100ppm.  Not that the market is going to like what they have reported but for Namibia it is normal.  Two other deposits are being developed atm being Valencia and Trekkopje.  Both BMN and ERN have substantially lower market caps than both these Canadian companies.  Thats why I see value in the Namibian plays such as Bannerman and Erongo.  Borshof seems to agree that the uranium market also needs low grade large tonnage resources but the Aussie market is thinking differently atm.  Canadian market is thinking more along the lines of Borshof's thoughts.


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## watsonc (5 June 2007)

It can still close at 87cents – its not oversold just yet- 85cent was an obvious support barrier for ERN the sad thing is.. ern went down today with twice the average volume – that’s not good.. if it went down with average/below average.. I can say.. market over reacted.. but because the market dumped it with twice the average.. someone knows something.. strangest thing though.. the market didn’t even allow ERN to hit resistance at 1.14. the million $ question is why not? ERN has to hold 76cents.. if not.. its game over. 

Should pick up? Who knows – right now its too risky.. if the company is good. I’d rather buy it at 1.14+. make a couple hundred? You can make a couple thousand dollars with stocks that have less then 1/10th of the risk involved compared to ERN – right now.. if I were to give it out of 10.. in regards to risk vs reward.. 2/10 not my style.. it doesn’t make any sense that ERN didn’t pick up when other resource giants did.. where’s the relative strength? It looks weak and risky.  

Good = when/if it closes above $1.14 I might buy on the pull back..

Bad = if it does close above 85cents tomorrow it could possibly head of 76cents.. if it fails to hold 76cents… its game over. 

Putting money into ERN = massive risk. Even if this does recover soon.. its going to go side ways for atleast a week.


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## watsonc (5 June 2007)

For ERN to have any chance.. it must trade above 0.97cents to diminish the risk.. if and when ERN trades above .97 the risk would move from 2/10 to a safer 7/10 when it trades over $1.. risk levels would be 8.5/10 which would mean.. its time to buy… and watch it run to 1.14+ which = an easy 14%+ return. 

Time will tell. Once again.. its game over if it trades below 0.76.,. if it trades below 0.85 its practically dead.


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## chris1983 (5 June 2007)

One thing I must add.  I think atm ERN is being fairly valued off what they have reported. 

WME have a fully diluted market cap around 58 million

erongos fully diluted market cap is around 68 million.  Thats not counting the cash from the oppies conversion etc etc.  I believe they will have similar resource sizes based off the historics and size of Erongos anomalies.  Of course there are further anomolies on the licenses to be tested but all we can go by is the one they are working on atm.

Erongo have a lot more land coverage than WME and have a large amount of prospects on their licenses.  So around the 90 cent level I believe is fair value?


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## chris1983 (5 June 2007)

watsonc said:


> For ERN to have any chance.. it must trade above 0.97cents to diminish the risk.. if and when ERN trades above .97 the risk would move from 2/10 to a safer 7/10 when it trades over $1.. risk levels would be 8.5/10 which would mean.. its time to buy… and watch it run to 1.14+ which = an easy 14%+ return.
> 
> Time will tell. Once again.. its game over if it trades below 0.76.,. if it trades below 0.85 its practically dead.




practically dead?  ok..watsonc you use a very weird trading style.  Erongo have large land coverage in Namibia..they have confirmed historics..and the grades are normal Namibian grades.  I dont see your logics in how you predict the SP.  One other thing to note is the Namibian government isn't granting anymore licenses anytime soon..so whats been granted is what there is.  These companies exploring in Namibia now will be a year or two in front of any other companies that do get any further licenses once the government does decide to starting awarding epl's again.  I really dont know what investors were expecting.  I thought it was all in line with expectations.  Of course people were hoping by a miracle we got some super high grades hits but the whole purpose of the first drilling campaign was to confirm historics.


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## Sean K (5 June 2007)

watsonc said:


> For ERN to have any chance.. it must trade above 0.97cents to diminish the risk.. if and when ERN trades above .97 the risk would move from 2/10 to a safer 7/10 when it trades over $1.. risk levels would be 8.5/10 which would mean.. its time to buy… and watch it run to 1.14+ which = an easy 14%+ return.
> 
> Time will tell. Once again.. its game over if it trades below 0.76.,. if it trades below 0.85 its practically dead.



Watson, Have no idea what thise fractions are. Odd. As far as support goes, yes, 85 and 75 are some support, but there's possibly better support at 70 as it coincides with the support trend line, so I wouldn't describe it as practically dead breaking 85. This has swung around quite a bit as you can see, and it's still well within the trend channel atm. I thought breaking out through the upper band spelt bad karma in the short term which has been validated. Too early to kill this off yet IMO, but I'm sure the market will make up it's own mind. Might really depend on future drilling. If they produce many more low widths under 200ppm, then they're off my Christmas card list.


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## watsonc (5 June 2007)

Sorry, I was refering to jumping in 2moro morning and buying the stock for a short term trade. Sorry if there was any confusion.


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## spooly74 (5 June 2007)

kennas said:


> Too early to kill this off yet IMO, but I'm sure the market will make up it's own mind. Might really depend on future drilling. If they produce many more low widths under 200ppm, then they're off my Christmas card list.




Just my  but they would be off my Christmas card straight away.
An average of about 10m @ 240ppm just confirms why the deposit was not mined in the past and it`s still not economic (yet).
They only have 1 rig it seems, so I would not expect regular drilling updates.
Future drilling will need better grades at much larger intervals it is ever going to mine.


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## chris1983 (5 June 2007)

spooly74 said:


> Just my  but they would be off my Christmas card straight away.
> An average of about 10m @ 240ppm just confirms why the deposit was not mined in the past and it`s still not economic (yet).
> They only have 1 rig it seems, so I would not expect regular drilling updates.
> Future drilling will need better grades at much larger intervals it is ever going to mine.





Wow so negative.

*Uramins deposit below.*

_Inferred Mineral Resource of 139.2 million pounds U3O8 (*502 million tonnes at a grade of 0.013%*), both estimated using an *80-ppm cut-off grade*. Trekkopje is expected to become one of the world’s ten largest uranium mines when it achieves production_

_*130 ppm average.*_

*Forsys deposit below*

_100 ppm cutoff 160ppm avg for 41.1 million pounds of uranium_

Its pretty obvious to see these low grade large tonnage deposits are worth money.  Aussie investors just need to come around to the idea.  Thats the reason why Bannerman are allready wanting to move onto the TSX.  Re-rating will occur once this happens.

*Uramin Market Cap - 1,930,997,638 CAD
Forsys Market Cap - 461,693,565 CAD*


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## chris1983 (5 June 2007)

Trading at .569 Euro.  Strong support in Germany.  Turned over heavy volume.  Got hit initially down to .53 euro.  Currently at .569 euro.

*0.569 EUR	=	0.920341 AUD

Volume:	1,103,382*

I think the Germans know value when they see it?  Dont forget Erongo shouldnt only be valued purely off this announcement.  The land coverage they have in Namibia is huge.  They hold a 90% interest on their epls.  They also look to be building some substantial mineral sand epls that could very well be spun off into a new entity to existing share holders as an in specie distribution.  Still plenty of upside left IMO.  This doesnt mean that the SP will go up tomorrow though.


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## chris1983 (5 June 2007)

This is a post for all Erongo holders who may not be aware of the price action in Germany tonight.  It is fair to say they dont really care about the price action here in Australia.  Currently at .61 euro.

0.61 EUR	=	0.986114 AUD

On continued heavy volume

Volume:	1,186,542

Maybe they will fall off a bit?  They didnt have as negative a reaction as there was on the Aussie Market today.


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## mhtrieu (6 June 2007)

I think its way too early to make any conclusions based on 6 drill holes. More drilling in Area 1 and 3 to come.


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## bliimp (6 June 2007)

watsonc said:


> For ERN to have any chance.. it must trade above 0.97cents to diminish the risk.. if and when ERN trades above .97 the risk would move from 2/10 to a safer 7/10 when it trades over $1.. risk levels would be 8.5/10 which would mean.. its time to buy… and watch it run to 1.14+ which = an easy 14%+ return.
> 
> Time will tell. Once again.. its game over if it trades below 0.76.,. if it trades below 0.85 its practically dead.





watsonc, it's game on! ... things are hotting up!!!

ERN finished at .595 euros in Frankfurt last night ... equating to .96aud ... just 1 cent away from your 7/10 scenario above; and just 3 cents away from your 8.5/10 scenario ... and _an easy 14% return!_


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## chris1983 (6 June 2007)

bliimp said:


> watsonc, it's game on! ... things are hotting up!!!
> 
> ERN finished at .595 euros in Frankfurt last night ... equating to .96aud ... just 1 cent away from your 7/10 scenario above; and just 3 cents away from your 8.5/10 scenario ... and _an easy 14% return!_




Dont forget the volume.

Volume:	8,596,876

It also touched a high of  .625 Euro

0.625 EUR	=	1.00908 AUD

but did finish at .595 euro as blimp said.  Thats the most volume I have ever seen traded over there..some major turn over happening.


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## sydneysider (6 June 2007)

watsonc said:


> It can still close at 87cents – its not oversold just yet- 85cent was an obvious support barrier for ERN the sad thing is.. ern went down today with twice the average volume – that’s not good.. if it went down with average/below average.. I can say.. market over reacted.. but because the market dumped it with twice the average.. someone knows something.. strangest thing though.. the market didn’t even allow ERN to hit resistance at 1.14. the million $ question is why not? ERN has to hold 76cents.. if not.. its game over.
> 
> Should pick up? Who knows – right now its too risky.. if the company is good. I’d rather buy it at 1.14+. make a couple hundred? You can make a couple thousand dollars with stocks that have less then 1/10th of the risk involved compared to ERN – right now.. if I were to give it out of 10.. in regards to risk vs reward.. 2/10 not my style.. it doesn’t make any sense that ERN didn’t pick up when other resource giants did.. where’s the relative strength? It looks weak and risky.
> 
> ...




It was in pre-open for two days so that may help explain the "pent up" sell volume. 

What is apparent is that the target tonnages here are extremely large. Area 1 is 1800 x 1000 x 65m = appox 292,500,000 tonnes @ density of 2.5 t per cubic m. The first six holes indicate (extremely rough guess) that about one third of this tonnage in the small area of the historical drilling may be about one third of the tonnage down to 65 m may contain economic grades. 

Another extremely rough calculation (taking all of the assay grades in yesterdays report and averaging them over Area 1) gives us .57 pounds of u per tonne. Extrapolating these "guesses" over Area 1 gives 97,500,000 tonnes @ .57 pounds = 55,575,000 pounds of open pittable u. potential. 

Then there are at least five other major targets on ERN leases. At current valuation on 46,000,000 shares at 90 cents = A$41.4 million ERN becomes a major target for a u predator looking for u that can be drilled and fast tracked to production. Good luck to all longs


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## sydneysider (6 June 2007)

kennas said:


> Watson, Have no idea what thise fractions are. Odd. As far as support goes, yes, 85 and 75 are some support, but there's possibly better support at 70 as it coincides with the support trend line, so I wouldn't describe it as practically dead breaking 85. This has swung around quite a bit as you can see, and it's still well within the trend channel atm. I thought breaking out through the upper band spelt bad karma in the short term which has been validated. Too early to kill this off yet IMO, but I'm sure the market will make up it's own mind. Might really depend on future drilling. If they produce many more low widths under 200ppm, then they're off my Christmas card list.




Very good call on the technical pattern. On the fundamentals i lean to the view that at 82 cents / $37.7 million ERN is a takeover target. IMHO that is why Lehman has about 8%. To-day's trading is a gift to them and possibly others. The potential targets are just too big to ignore. OMC (across the border) got taken out at about $150 million and ERN potential is much greater with similar grades of u but much larger tonnages.


----------



## Logique (6 June 2007)

As a holder I see the present situation as an opportunity rather than a risk. 

In my view the price overreacted both prior to, and after the recent announcement. In a background where U spot price continues to trend up, and availability is lagging demand, talk of $200/lb, and supply shortages through 2007/2008, I don't see a reason to be worried about ERN's prospects.


----------



## beatrice (6 June 2007)

How about the bids for around 1/2 million shares on the next dip!!

Doesnt that show there is still plenty of confidence in ERN?


----------



## Sean K (6 June 2007)

beatrice said:


> How about the bids for around 1/2 million shares on the next dip!!
> 
> Doesnt that show there is still plenty of confidence in ERN?



Beatrice, I'm not sure what you are talking about. The depth looks pretty tame to me. Can you be more specific or paste in a screen shot of what you are talking about. Thanks.


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## Mikesta (6 June 2007)

I think he meant there are some buyers totalling 500000 below the asking price, would this mean that there is still strong support for ERN?


----------



## beatrice (6 June 2007)

Mikesta, thats exactly what I meant and it seems there are even more buyers lining up as we speak.

It this the  last hour rush about to hit?


----------



## Sean K (6 June 2007)

Mikesta said:


> I think he meant there are some buyers totalling 500000 below the asking price, would this mean that there is still strong support for ERN?



Personally I would compare the number of buyers to sellers to get a snapshot of support and there looks to be more sellers lined up at this moment. VWAP is another indication of the days trading and it's currently at 83.62, about the same as the current sp, so nothing really there. Another indication would be how it bounces off support lines, or finishes the day. Volume is important too. If it goes down on increased volume that shows a lack of support. Have to wait till EOD for a better picture I think.


----------



## sydneysider (6 June 2007)

Logique said:


> As a holder I see the present situation as an opportunity rather than a risk.
> 
> In my view the price overreacted both prior to, and after the recent announcement. In a background where U spot price continues to trend up, and availability is lagging demand, talk of $200/lb, and supply shortages through 2007/2008, I don't see a reason to be worried about ERN's prospects.




The market has hysterically overeacted to the ERN report. Two nearby deposits are Valencia with a head grade of 140 ppm/.14kg/t owned by Forsys is valued at C$650 million and has operating costs of US$22 pound. Also Trekkopje at 140 ppm with other credits and operating costs of US$19 pound. Both deposits are similar to Eronogo's geology except that Eronogo's multiple u targets are much larger than Valencia which has a JORC resource of 12,750 tonnes of u. Trekkopje has 39,500 tonnes of u and is worth around US$2 billion (need verification). 

Erongo may end up with similar numbers to Valencia but IMHO have resource size closer to Trekkopje if continuity holds up during drilling at low grades over their very large anomolous areas.


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## Go Nuke (6 June 2007)

Thanks for the post on what the German action is Chris!

Good to see that not everyone has lost faith in ERN.
I think people were perhaps just wanting to get in just incase of some incredible depth or quality Uranium.

Still looks to be alot of interest around the 80c-82.5c mark.

I think ERN got dumped a bit harshly, especially based off the info from 6 holes or however many it was


----------



## chris1983 (6 June 2007)

Go Nuke said:


> Thanks for the post on what the German action is Chris!
> 
> Good to see that not everyone has lost faith in ERN.
> I think people were perhaps just wanting to get in just incase of some incredible depth or quality Uranium.
> ...




Im still holding strong.  Im a longterm investor.  I like to atleast hold on for a year to limit my tax.  Been holding since 47 so I'm still very happy with the performance thus far over a 6 month period.  Lots of support from 82 onwards.  600,000 shares to be bought from 82-83 cents.  Erongo have huge land coverage in Namibia..a lot of anomolies untested..mineral sands epls that could be given as an in-sepcie distribution to current share holders.  Still plenty of upside left IMO.  I also dont believe the uranium price will falter for atleast another 2 years.  I cant see where all the extra supply is going to appear from? So I'm holding long on my uranium investments.  Good luck to the longs.


----------



## Noskcid (6 June 2007)

chris1983 said:


> Im still holding strong.  Im a longterm investor.  I like to atleast hold on for a year to limit my tax.  Been holding since 47 so I'm still very happy with the performance thus far over a 6 month period.  Lots of support from 82 onwards.  600,000 shares to be bought from 82-83 cents.  Erongo have huge land coverage in Namibia..a lot of anomolies untested..mineral sands epls that could be given as an in-sepcie distribution to current share holders.  Still plenty of upside left IMO.  I also dont believe the uranium price will falter for atleast another 2 years.  I cant see where all the extra supply is going to appear from? So I'm holding long on my uranium investments.  Good luck to the longs.




Also a long term holder, been holding since 52c so I guess I cant really complain about the performance thus far... Everywhere in the world is building neuclear reactors for power supply, was it something like 50 worldwide by 2020, (don't quote me on that, I gotta dig up the articles to confirms). So where are they going to get all the fuel from??? Seeing how the supply:demand atm is already not enough.

I might even top up but we'll see how this goes in the next week or so 



peace out


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## BankRoller (6 June 2007)

I bought a parcel at 60 cents and sold yesterday at 90 cents on the announcement. The usage of words "potential" didn't quite strike for me. However, upon reading these last few forums a takeover potential erongo may well be. Maybe you can't go Erongo with Erongo after all.


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## tanga40 (7 June 2007)

Sorry but im still a beginner at trading. I understand that the majority of people believe that the market over reacted to the announcement and the share price will eventually go up. However in the frankfurt market, it seems to continously go down. How long do u think it will be until the share price will go back up?


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## boy_888 (7 June 2007)

guys when are we meant to anticipate the next round of results from ern? has the company given some sort of time frame?


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## chris1983 (7 June 2007)

There is strong support in the low 80's.  Not sure when results will come.  Erongo are a uranium play in Namibia with huge land coverage.  There are a number to choose from but I'm pretty sure erongo comes close to the cheapest or it could be WME.  This is a quick write up so I cant check.  Erongos land coverage is quite large compared to the other explorers.    Erongo wont have the same problems of share dilution as WME will have when they need to raise money and also DYL.  If you want a uranium play in Namibia it still looks very attractive which is why investors are jumping in at these levels.  If you think the uranium boom will continue which I do.. just hold long.  I cant see the uranium price coming down in the next couple of years so these types of explorers still have plenty of opportunity to show SP gains.  Good luck to holders.


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## wondra (7 June 2007)

Drilling is on going, so I would think we may get constant updates. The initial results (the 6 holes) were only ever meant to verify historical figures.

There is approx 5000m of drilling in Area 1 (at 73m, thats 60/70 holes) same again with Area 3.

Initial drilling commenced 8th May. Initial 6 holes announced 5th June. Bear in mind the initial holes were assayed in that period as well. I would imagine that there are a lot more than 6 holes that have now been drilled (one would think that the lab would have taken a few weeks, at least, to get some assay results) I would guesstimate that those initial 6 holes were probably drilled in no more than 1 to 1.5 weeks so there are very likely about quarter/half of Area 1 awaiting assay results.

jmho


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## Mikesta (7 June 2007)

I sent an email to one of the directors he said that the next round of results would probaly be around mid July.


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## sydneysider (7 June 2007)

wondra said:


> Drilling is on going, so I would think we may get constant updates. The initial results (the 6 holes) were only ever meant to verify historical figures.
> 
> There is approx 5000m of drilling in Area 1 (at 73m, thats 60/70 holes) same again with Area 3.
> 
> ...




ERN is drilling RC holes for 10,000 meters to cover an area of 1,800 x 1000m known as Area 1 which contains the historical u find contained within an area of 500 x 800 m (from memory) and aboout 35-35 meters thick u zone. RC drilling is probably to 75m per hole (may be some deeper or angled). They are drilling at this rate of 100 -120 meters per day, so they would be about 4,000m into the first stage of the program. They continue drilling on other areas so there should be many months of drilling data coming to the market. 

My understanding is that they are putting at least twenty holes into the "core" of the historical resource to allow assaying and release to the market in about mid July. They will continue drilling around the core and its extensions to come up with a resource estimate.


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## chris1983 (7 June 2007)

Big buyer just took everything out up to 88 cents.  Great support and signs of confidence from some bigger fish.  Will probably come back but still good to see.


----------



## Sean K (7 June 2007)

chris1983 said:


> Big buyer just took everything out up to 88 cents.  Great support and signs of confidence from some bigger fish.  Will probably come back but still good to see.



Which big buyer was that Chris? The 4000 ish shares @ 83.5, or the 10,000 shares @ 88. Or are you saying the individual 29K and 25K buys at 84 and 85 were the big buys? Wonder who these 'big fish' are?  Perhaps you could explain what you really meant there? cheers.


----------



## ta2693 (7 June 2007)

chris1983 said:


> Big buyer just took everything out up to 88 cents.  Great support and signs of confidence from some bigger fish.  Will probably come back but still good to see.




Maybe it is a big fish. it also could be temporary short of seller because of two days' big selling.I hate the gap so much which prevent me from entering again.


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## chris1983 (7 June 2007)

kennas said:


> Which big buyer was that Chris? The 4000 ish shares @ 83.5, or the 10,000 shares @ 88. Or are you saying the individual 29K and 25K buys at 84 and 85 were the big buys? Wonder who these 'big fish' are?  Perhaps you could explain what you really meant there? cheers.




Ready to pounce hey Kennas.  I use stockness monster and its delayed.  I thought it was one buyer but the trades all went through 1 minute apart.  You never posted what you were going to on the BMN thread?  Want me to do it for you?


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## SGB (7 June 2007)

kennas said:


> Which big buyer was that Chris? The 4000 ish shares @ 83.5, or the 10,000 shares @ 88. Or are you saying the individual 29K and 25K buys at 84 and 85 were the big buys? Wonder who these 'big fish' are?  Perhaps you could explain what you really meant there? cheers.




Hey Kennas,
Agree with ya, the guys get pretty reved up ubout this one but IMO there seems to be pretty good support @ .80ish
Personally don't own stock but Chris got me excited to research(LOL Chris). Might have a dabble once MACD crosses back over.
Cheers
SGB


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## SGB (7 June 2007)

This is another look at the .80ish support. 
Seems to be quite solid although time will tell.



SGB


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## svensk (7 June 2007)

When charting, I often use a 60 day ema to gauge med/long term support and resistance levels. I noted in particular for ERN, this ma poses quite a nice (perhaps rough) support level. You'll note it has bounced off it several times since the initial surge in late '06, and seems to have done so again just recently. If this long term supposed support level holds, the sp shouldn't falter too much more.

Anyway, that's just my musings on the topic.


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## sydneysider (8 June 2007)

daredevil said:


> Drill results were disappointing with lower than expected widths and grades(some 100ppms). don't expect another set to analyse till mid july, according to company management. Until then, am on sidelines.




Sorry to follow u around Daredevil. IMHO ERN may be onto something very major. They have said that they are looking for a very large bulk tonnage low grade U deposit. There are a collection of these deposits in Nambia and they run at grades 130-140 ppm or 4.5 oz per tonne. Forsys was like ERN about 12 months ago with a very similar share capital and aspirations and ran from 50 cents to $10.00, that is a certified 20 bagger. They have about 30 million pounds /14,000 tonnes of u and are worth + half a billion dollars now. 

ERN is worth US $31 million has at least 3 BILLION TONNES of "target rocks" down to 75 meters on its Erongo Granites project at Areas 1-4. They have historical drilling and the five new holes that identify about 3.5% of the target rocks as containing u AND they also point out that grades may be open at depth (maybe several billion tonnes more of potential target rocks). All of these target areas are covered with u "signatures" from various surface tests. 

The fact is (1) Nambia hosts a number of very large bulk tonnage u deposits (2) ERN is sitting on on a number of very massive anomolous u areas that have many surface signatures and a very small area that has been drilled out and contains grades that are typical of economic deposits in the area (3) Mineable grades are as low as 130 to 140 ppm (Forsys at Valencia and Treppokje) and ERN's grades are very shallow so far (4) Costs (verified by a number of studies by independent groups) on these low grades are very low at US$22 per pond of u so the operation becomes very profitable on large tonnages (5) U can fast track these deposits from drilling to mine development very quickly. 

IMHO with the tremendous shortage of u around the world ERN will attract a LOT OF attention based merely on the size of the targets, the similar geology of nearby massive u mines and the fact that Nambia is a very good place to develop a U mine AND that ERN is in the very early stages of exploration that is generating very positive data.

On a day when the Dow Jones dropped 125 points little ERN powered up 13% in Frankfurt to hit 94 cents on turn over of 593,000 shares.


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## sydneysider (8 June 2007)

daredevil said:


> The problem is, the average investor does not find the 100ppm grade exciting. not only that, they only got 1 rig.
> 
> Don't know about your open at depth comment. they never said that.
> 
> ...




Poor Daredevil, it was Forsys that ran to be a 20 bagger, from 50 cents to $10.00. Do you dispute this fact? 

IMHO ERN is very undervalued...


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## chris1983 (8 June 2007)

lol you guys could argue forever.  One thing your forgetting is erongo got uranium hits on every hole that they drilled.  Six holes.  A lot of companies don't hit uranium on every hole they drill.  Anyway overnight Erongo finished at .59 euro on almost 3.5 million volume.

*0.59 EUR	=	0.940451 AUD*

Doesnt look good with the DOW getting hammered though.  A lot of people will be bailing out of the market yet again.


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## chris1983 (8 June 2007)

Some good depth from 80 onwards.  Just what I like to see.

There has recently been a price recommendation made by a German magazine.  I have had a number of German holders advise me of this and if you search google and go to the forum boards it has been spoken about.  I have quoted a post from hot copper.  Maybe this is why we have seen such high volumes and strength over in Germany?  Sure does make sense.

_"Hello from germany and sorry for my bad english! The german magazine "Der Aktionär" recommended Erongo Energy. They gave ERN a target of 1,2 € ! "_

*1.20 EUR = 1.91003 AUD *

I really dont know where they pulled this valuation from but its a blue sky valuation.  I personally wouldnt follow it atm as we have no hard evidence of what Erongo actually have but they are basing their valuation purely off potential and speculation.  Good to see some strong support and I am definately looking for further SP gains as drilling continues and they begin further work on other anomolies within the licenses.  Good luck to the longs.


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## chris1983 (8 June 2007)

Support is moving up higher and higher for Erongo.  Another great finish in a down market.  Ended up in the green so very happy with the trading in Erongo today.


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## sydneysider (9 June 2007)

SGB said:


> Hey Kennas,
> Agree with ya, the guys get pretty reved up ubout this one but IMO there seems to be pretty good support @ .80ish
> Personally don't own stock but Chris got me excited to research(LOL Chris). Might have a dabble once MACD crosses back over.
> Cheers
> SGB




Stochastics which were very oversold have crossed up (first tentative buy signal), MACD has flattened but not crossed up yet. Notice that the last ten days of trading have seen very aggressive "wide" moves both up and down. We seem to have broken out of small daily moves that were typically the norm. IMHO this is being caused by a lot of new buyers into the stock (1) Lehmans has 8% (2) Germans are buying and trading this stock in decent chunks every day. Frankfurt trades from 500,000 to 1,000,000 a day. 

Seems to be indicating higher prices ahead.


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## Go Nuke (15 June 2007)

Has anyone got any insight into the direction ERN will take from here?

I see it has fallen into the mid 80c range again.
I realise they have huge amounts of prospective areas, with no new ELP's being issued.

Still looks good as an explorer in my eyes.


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## Sean K (15 June 2007)

Go Nuke said:


> Has anyone got any insight into the direction ERN will take from here?
> 
> I see it has fallen into the mid 80c range again.
> I realise they have huge amounts of prospective areas, with no new ELP's being issued.
> ...



Of course it's an explorer , but it's still generally going up on the chart. 93 cents is firming as a bit of resistance now. I'm still impressed with the intraday support this normally gets. Notice the long tails on the candles. MACD and Stoch look ugly short term. Market is still probably assessing those ordinary grades for 3 of the holes, which were practically dirt. Still can't imagine what they were thinking not drilling initially at the points where they knew there were historically good grades. Odd. 

I do note Chris has sold out of this now, which is odd considering this statement made just last week. Fundies change their mind pretty quickly around here. 



chris1983 said:


> Support is moving up higher and higher for Erongo.  Another great finish in a down market.  Ended up in the green so very happy with the trading in Erongo today.


----------



## SGB (15 June 2007)

Go Nuke said:


> Has anyone got any insight into the direction ERN will take from here?
> 
> I see it has fallen into the mid 80c range again.
> I realise they have huge amounts of prospective areas, with no new ELP's being issued.
> ...




G N 
The volumes aren't that high to be overly concerned about, when theres an influx of volume while declining its generally the trigger of a reversal. 
SGB


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## chris1983 (15 June 2007)

Kennas.   I gave due reason to why I took profits.  I feel BMN fundamentals are stronger so I pushed the profits back into them.  I have a trading plan where I usually sell half and the rest is free carried.  I decided to stick to the plan.


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## chris1983 (15 June 2007)

Kennas will jump on any opportunity to say something negative towards me as I know he doesn't like me.  "Fundies change their minds quickly around here"..being a little smart.


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## SGB (15 June 2007)

chris1983 said:


> Kennas will jump on any opportunity to say something negative towards me as I know he doesn't like me.  "Fundies change their minds quickly around here"..being a little smart.




You aren't sulkin are you chris!
I would think kennas would like everyone and all.
There is a wisper that you crunched out of ERN.
I'm supprised that you should do this after all of the attention you have put into ERN of late.
SGB


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## chris1983 (15 June 2007)

SGB said:


> You aren't sulkin are you chris!
> I would think kennas would like everyone and all.
> There is a wisper that you crunched out of ERN.
> I'm supprised that you should do this after all of the attention you have put into ERN of late.
> SGB




I dont sulk mate.  I just find it funny.  You should concentrate on making money.  Maybe put some time into doing research.  My parcel in ERN is still quite large.  I sold some BMN to free carry..I sold 1/4 of My arrow to free carry.  Its how I work.  I stick to my trading plan.  I sold 1/3 of my ECH to free carry.  I can go on if you want.  Wow I think Im doing quite okay on the stock market   As if you or anyone could make me sulk..give it your best shot.


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## SGB (26 June 2007)

In a day where there was plenty of red sea around, ERN managed to bounce of .80 to end the day in the green(+.05)

Open   0.845
High    0.86
Low     0.79
Close   0.85

SGB


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## Sean K (26 June 2007)

Still going sideways since early April really. Won't be looking really vulnerable until it breaks those support lines. That's not comforting if you bought at $1.10 of course, but a bit easier for punters who entered a bit earlier. Maybe trending back up when it breaks 92 ish. Looks short term bearish on those indicators so I'd be expecting further sideways movement.


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## SGB (26 June 2007)

By looking at the channel it does really need to hold on to .80ish support.
Over the next couple of days will tell.
Agree Kennas, Tech indicators don't look flash.


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## tanga40 (4 July 2007)

whats going on today? lost 16% already but no news.... this seems a bit scary, ill probably sell soon


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## chris1983 (4 July 2007)

tanga40 said:


> whats going on today? lost 16% already but no news.... this seems a bit scary, ill probably sell soon




Hi tanga..while you were thinking of selling soon I was hoping to pick some up in the low 60's.   Doesnt look like they stayed down there for long though.  A bit of a panic driven sell off maybe? hmm.


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## boy_888 (4 July 2007)

picked up some more oppies, this is just a panic sell-off. the fundamentals are the same. When do we expect the next announcement from the company. it should be coming around resonably soon, seeing that the last annnouncement regarding the initial drill results was on the 05/06...


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## SGB (4 July 2007)

Actually picked up a pacel today myself. T/A looks horrible but quite happy with the price. Seems quite reasonable.
SGB


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## Go Nuke (4 July 2007)

Yeah I must admit Im feeling a bit nervous too.
I really thought it would get supported around the 80-85c range but it appears to have fallen through that.

True enough that the fundamentals haven't changed though.

Some more drill results would be good. Although the market looks to be getting SMASHED today! {Or is it just my watchlist}


----------



## boy_888 (5 July 2007)

Mikesta said:


> I sent an email to one of the directors he said that the next round of results would probaly be around mid July.




ern has dropped 10 cents on the back of very little volume... any insights. an announcement could be a couple of weeks away...


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## Sean K (5 July 2007)

boy_888 said:


> ern has dropped 10 cents on the back of very little volume... any insights. an announcement could be a couple of weeks away...



If you were trading this off the chart you might have sold yesterday, or today, depending on when you got in. 200d ma might provide some support, but there looks to be more between 50 and 60. The tech indicators there don't get any more bearish unfortunately. The fundamentalists pumping this when it was at $1.10 and all the way back down would be still holding of course. It might get back up there one day, if their analysis was correct.


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## chris1983 (5 July 2007)

We should change this forum site into a charting forum site shouldnt we Kennas?  Lucky for those who got in when I was pumping them at 40.  I was actually look for an entry today at 65 but missed it.  I think we should start pointing out all the many stocks you have picked on your charts that have failed?  Maybe point out all the failures you have pointed out with your charts? hmm?


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## Rafa (5 July 2007)

yup, i got out of ERN as soon as the new fin year ticked over...

still on my watch list, but if i was trading a company based purely on fundamentals, BMN and MTN have the fundamentals to back them up.

ERN should be traded as a mixture of both, and at this stage, with the tech analysis looking so poor, its not a time to be entering IMHO.


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## chris1983 (5 July 2007)

Rafa said:


> yup, i got out of ERN as soon as the new fin year ticked over...
> 
> still on my watch list, but if i was trading a company based purely on fundamentals, BMN and MTN have the fundamentals to back them up.
> 
> ERN should be traded as a mixture of both, and at this stage, with the tech analysis looking so poor, its not a time to be entering IMHO.




I also moved funds over to Bannerman when they were 2.73.  I sold just over half of my holding in ERN at 87 cents so the rest were free carried.  Still though ERN look like a good entry to me in the mid 60's.  I am tempted to top up if they fall back further.

Even at 70 cents they have a fully diluted MC at 54 million.  They have what? 4-5 million cash at bank?  Some of the largest land coverage in Namibia when no more licenses are being granted.  Not a bad buy atm.  Thats why I was looking for a re-entry.  I dont go by all this charting stuff althought it is interesting to read on.  Investors such as Kennas would of thought BMN was falling a lot further when they hit 2.65.  You have to make your own decisions when you believe stocks have hit fair value..yeah sure on the charts they have fallen back..but so have a lot of stocks these past months.  Charts dont tell you when they have hit a bottom.  Charts can sometimes help you determine when a stock has trended back up though and then you miss out on initial profit.  If the value is there and I see it I usually jump in and it hasn't let me down "yet".

I just get annoyed when chartists starting bagging on fundamentalists..because they have more than their fair share of duds and incorrect picks.  Fundamentals have not let me down the past 2 years.  Hey maybe I'm just lucky.


----------



## nizar (5 July 2007)

chris1983 said:


> Charts dont tell you when they have hit a bottom.  Charts can sometimes help you determine when a stock has trended back up though and then you miss out on initial profit.




Chris.
Just to point out -- Fundamentals also dont tell you when a stock has hit a bottom.

You also said:
*You have to make your own decisions when you believe stocks have hit fair value..yeah sure on the charts they have fallen back..but so have a lot of stocks these past months.*

Alot of stocks have fallen back??? Also incorrect. I dont know about your watchlist -- is it just the U sector?
Im getting entry signals everyday these last few months. Check out NWE, AED, MPO, ESG, MEO, etc.

And what i dont like about "value" investing is that the market can have a mind of its own. Stocks can stay undervalued for years and years. Other stocks can go from fair value or over-valued to even more overvalued.

Just my opinion of course.

And yes Chris -- your record is remarkable, no debates about that


----------



## Rafa (5 July 2007)

i guess its what you define as a fundamentally strong share....

in my opinion, something is fundamentally strong if it has JORC, and / or in the feasibility to mine study stage or near to it. (hence BMN and MTN, whoose charts don't concern me too much).

the other stocks who are fundametally strong are the cash cows, bhp, zfx, etc...

but there are not many i would buy (in large quantities) purely on fundamentals...


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## chris1983 (5 July 2007)

nizar said:


> Chris.
> Just to point out -- Fundamentals also dont tell you when a stock has hit a bottom.
> 
> You also said:
> ...




YES a lot of stocks have fallen back.  Do you want me to name them all for you Niz?  Dont make me.  Of course there will be some still going up..so glad you could show a few.  Of course the market has a mind of its own.  I determine in my mind when stocks are fair value though..do you have a problem with what I think is fair value?  I pick stocks at what I believe to be fair value and I enter the stock.  I dont really care what the market does.  Most stocks I have picked have been fair value as I have continually made profits after my entries.  If I continued to pick stocks I thought to be fair value and they went down on me 80% of the time I would change my methods..but when 90% of the stocks I have picked end up going up..well Im going to stick to how I pick stocks.


----------



## Go Nuke (5 July 2007)

Well sadly I have to say that 2/9 of my stocks are lower than what I bought them for nearly 6 months ago But then again, Im new so dont really know when to sell. Thats why i guess I will just hold and wait for the price to go up again if the fundamentals stay the same.

I got into ERN around 58c, but am genuinely worried now that it could fall back to these levels.
But as per usual having no real clue, i veiw it as too late to sell of what i have to make any decent money out of it.

Guess the question is....do I think I can pick them up for under58c soon!

Oh well, goodluck to those that hold.


----------



## boy_888 (5 July 2007)

the market cap of ERN is tiny.... Checked the last trade of ERN in Frankfurt it finished at 0.462 EUR = 0.733112 AUD. i don't know what to make of this but maybe punters are over selling it at the moment in oz.


----------



## SGB (5 July 2007)

Go Nuke said:


> Well sadly I have to say that 2/9 of my stocks are lower than what I bought them for nearly 6 months ago But then again, Im new so dont really know when to sell. Thats why i guess I will just hold and wait for the price to go up again if the fundamentals stay the same.
> 
> I got into ERN around 58c, but am genuinely worried now that it could fall back to these levels.
> But as per usual having no real clue, i veiw it as too late to sell of what i have to make any decent money out of it.
> ...


----------



## Mikesta (5 July 2007)

It seems as though the Germans are following the our ERN SP price now.  I suspect that the German ERN will drop a few percent in today's trade.  i still hold but only my original parcel at around 61.5.  

I sold some off yesterday in panic attack really but don't like the way it is now.  One thing i reeally need to know is how to take profit! hehehe was up around 90% on BMN and ERN.. damn...  oh well first year trading lessons i guess


----------



## chris1983 (5 July 2007)

Okay guys SGB messaged me to see how I would think since I dont follow the charts.  If you have followed my posts to date you would know I work off comparisons with similar stocks.  For example I am loaded up on Arrow energy atm because I believe AOE and QGC are very similar companies yet in recent months QGC has sprinted ahead with a market cap of 800 million dollars greater than AOE.  Thats how I work out when or when to not enter a stock.  See my posts to SGB below.

_"Well even though Im a fundy..i want it to get oversold more. I sold ***** shares at 87 so its a perfect opportunity for me to go back in. Only reason I sold is because I saw BMN down to 2.73 and their fundies are a slot stronger than ERN. I decided to switch the money over as ERN were up and BMN were down. BMN as you know will report a large resource in 6 months etc etc and are a lot less speculative than ERN but if ERN drop to a market cap of less than 50 million fully diluted I believe they are worth a buy. I base my buy ins off comparisons with other stocks not off the charts. WME is a good share to compare ERN too. I still hold **** shares totally free carried. 

WME have a fully diluted market cap of 70 million..many shares on issue..have less land coverage and less projects than ERN. Thats why I think ERN are a buy atm. ERN have massive land coverage in Namibia and there are a lot of untested anomolies that still need to be drilled. ERN are a spec though and come with risk but hey I like risk.

all the best mate."_

I thought thats a good post to let people see why I still think ERN are a buy.  All the best..they could drop further..who knows..I sure dont..but at these levels I think they are good value.


----------



## SGB (5 July 2007)

chris1983 said:


> Okay guys SGB messaged me to see how I would think since I dont follow the charts.  If you have followed my posts to date you would know I work off comparisons with similar stocks.  For example I am loaded up on Arrow energy atm because I believe AOE and QGC are very similar companies yet in recent months QGC has sprinted ahead with a market cap of 800 million dollars greater than AOE.  Thats how I work out when or when to not enter a stock.  See my posts to SGB below.
> 
> _"Well even though Im a fundy..i want it to get oversold more. I sold ***** shares at 87 so its a perfect opportunity for me to go back in. Only reason I sold is because I saw BMN down to 2.73 and their fundies are a slot stronger than ERN. I decided to switch the money over as ERN were up and BMN were down. BMN as you know will report a large resource in 6 months etc etc and are a lot less speculative than ERN but if ERN drop to a market cap of less than 50 million fully diluted I believe they are worth a buy. I base my buy ins off comparisons with other stocks not off the charts. WME is a good share to compare ERN too. I still hold **** shares totally free carried.
> 
> ...




Hello Chriss
Nice explaination,
O.k, a T/A would identify an over sold enviroment with an RSI indicator, prefer to be under 30RSI ( others maby 20RSI) Hence the question How does a fundy identify an oversold enviroment.
Cheers


----------



## chris1983 (5 July 2007)

SGB said:


> Hello Chriss
> Nice explaination,
> O.k, a T/A would identify an over sold enviroment with an RSI indicator, prefer to be under 30RSI ( others maby 20RSI) Hence the question How does a fundy identify an oversold enviroment.
> Cheers




When it drops down into a SP range that puts it Market cap well below its peers?  Thats oversold to me?  Pretty simple right.  How much further can they drop from here?  Back into the mid 50's?  Back to the 40's where I purchased my first bundle?  If they did I would be buying more.  At 55 cents the fully diluted cap would be 42 million.  so anywhere from 55-60 is amazing value to me.  I dont know if it will get back to these levels though..might do.


----------



## SGB (5 July 2007)

Nice explaination,
O.k, a T/A would identify an over sold enviroment with an RSI indicator, prefer to be under 30RSI ( others maby 20RSI) Hence the question How does a fundy identify an oversold enviroment.


----------



## boy_888 (5 July 2007)

sydneysider said:


> Sorry to follow u around Daredevil. IMHO ERN may be onto something very major. They have said that they are looking for a very large bulk tonnage low grade U deposit. There are a collection of these deposits in Nambia and they run at grades 130-140 ppm or 4.5 oz per tonne. Forsys was like ERN about 12 months ago with a very similar share capital and aspirations and ran from 50 cents to $10.00, that is a certified 20 bagger. They have about 30 million pounds /14,000 tonnes of u and are worth + half a billion dollars now.
> 
> ERN is worth US $31 million has at least 3 BILLION TONNES of "target rocks" down to 75 meters on its Erongo Granites project at Areas 1-4. They have historical drilling and the five new holes that identify about 3.5% of the target rocks as containing u AND they also point out that grades may be open at depth (maybe several billion tonnes more of potential target rocks). All of these target areas are covered with u "signatures" from various surface tests.
> 
> ...





Reading back though the ERN thread trying to see the light and justify why i've been loading up on ERN in the last two days, maybe even for a third!


----------



## spooly74 (5 July 2007)

boy_888 said:


> Reading back though the ERN thread trying to see the light and justify why i've been loading up on ERN in the last two days, maybe even for a third!




Brave boy 888 .. Erongo is getting thumped in Germany at the moment...down 14%.
Could just be a reaction to todays action here though ???? Might test the low 60`s tomorrow


----------



## Logique (5 July 2007)

Annoyed as a holder by the price action, plenty of July profit taking there. Stop Loss cascading perhaps also. Been caught in that trap before with stocks that turned around and ran back up. With a longer view I don't see it as the end of the world, prepared to be patient. Trouble is, not every holder entered with the longer view in mind. 

Check the 6 month % performance against BMN in the chart under.


----------



## Sean K (6 July 2007)

Technically, there should be VERY GOOD support between 50 and 60 cents here, if it reaches it tomorrow, or later. However, since breaking down though what should have been good support around 77-80c TA is now less reliable. The upper trend support line may change direction now, unless it can spike back up. 

Fundamentals no change of course, but sentiment has for whatever reason. Market is factoring in something here. It does generally over and undershoot though. So have to see if this is an undershoot and a buying opp for those who believe in the fundamentals, but it ´s not an opprtunity chart wise unless you like catching falling knives. As I alluded too previously, if the fundies are right, we could see 1.10 again in the future, but there looks to be a lot required to break back up right now. Of course, some drilling results with ppm ´s above 300 might do it, but that doesn ´t look immediately likely to me with this negative price action.


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## chris1983 (6 July 2007)

I think with every stock though you must have a plan.  I have always stuck to the plan of selling enough stock to free carry the rest no matter how much I like the stock.  I usually aim for a 100% increase so I can sell half to free carry the rest.  I have carried out this strategy with all my holdings.  AOE/BMN/ERN/ECH to name a few.  It keeps you safe and makes it very hard for you to lose.  You can then decide later if you want to sell your free carried holdings if you are starting to sway away with how the company is being run..or if you change your views in regards to the fundamentals of the company.  This is my method.  I can now comfortably carry my holdings in all four of those companies as I do believe in their longterm prospects and I would like to see how they develop their projects and what exploration each of them will put put forward.  Erongo still have a heap of work to do..they havn't even touched on 3 of their tenements yet...so the short term pain may hurt but they aren't going to roll over and die.

I guess your strategy may change with companies that have more solid fundamentals..but I usually try to stick to the system.  It has helped me a number of times to keep my fund growing at a steady rate.  When you sell your stock to free carry you just have to be able to pick the next winner..thats the challenge.


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## timelord (6 July 2007)

chris1983 said:


> I think with every stock though you must have a plan.  I have always stuck to the plan of selling enough stock to free carry the rest no matter how much I like the stock.  I usually aim for a 100% increase so I can sell half to free carry the rest.  I have carried out this strategy with all my holdings.  AOE/BMN/ERN/ECH to name a few.  It keeps you safe and makes it very hard for you to lose.  You can then decide later if you want to sell your free carried holdings if you are starting to sway away with how the company is being run..or if you change your views in regards to the fundamentals of the company.  This is my method.  I can now comfortably carry my holdings in all four of those companies as I do believe in their longterm prospects and I would like to see how they develop their projects and what exploration each of them will put put forward.  Erongo still have a heap of work to do..they havn't even touched on 3 of their tenements yet...so the short term pain may hurt but they aren't going to roll over and die.
> 
> I guess your strategy may change with companies that have more solid fundamentals..but I usually try to stick to the system.  It has helped me a number of times to keep my fund growing at a steady rate.  When you sell your stock to free carry you just have to be able to pick the next winner..thats the challenge.




That is the key to a successful trading plan and one that as a newbie I struggle with.  It is the emotion  and fear that can take over at this time.  Appreciate your thoughts and as always we do make our own decisions.  Would love the thrill of free carry one day to take some of the worry/stress out of this.  I seem to have come in at a higher level this year and seems to consolidate just below my average sp.


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## boy_888 (6 July 2007)

bought the oppies at 40c today. don't know what to think maybe its true value maybe its a dog... time will tell...


----------



## chris1983 (6 July 2007)

boy_888 said:


> bought the oppies at 40c today. don't know what to think maybe its true value maybe its a dog... time will tell...




Hope it pays off for you boy.  ERN are back a long way.  I didn't think we would see these prices again.  With the downturn in the uranium market..a lot of stocks have really got hit hard.  Uranium spot price dropped a dollar for the first time in 40 months I think it was..I think some investors believe that is the end of the world.  There could be some other factor affecting the Erongo sp though?  Maybe some uninspiring drilling results on the way?  I'm not sure.  Thats the only thing I can think of atm.

Other than that they have extensive land coverage in Namibia with 4 granted epls and other granted mineral sands epls.  EPL's arent being granted any longer in Namibia for uranium exploration so I think its a big added bonus to the companies that allready have licenses over there.  They have only touched on one of their licenses. I'm holding long on the rest of my holdings.  I really do believe they can do something.


----------



## boy_888 (6 July 2007)

chris1983 said:


> Hope it pays off for you boy.  ERN are back a long way.  I didn't think we would see these prices again.  With the downturn in the uranium market..a lot of stocks have really got hit hard.  Uranium spot price dropped a dollar for the first time in 40 months I think it was..I think some investors believe that is the end of the world.  There could be some other factor affecting the Erongo sp though?  Maybe some uninspiring drilling results on the way?  I'm not sure.  Thats the only thing I can think of atm.
> 
> Other than that they have extensive land coverage in Namibia with 4 granted epls and other granted mineral sands epls.  EPL's arent being granted any longer in Namibia for uranium exploration so I think its a big added bonus to the companies that allready have licenses over there.  They have only touched on one of their licenses. I'm holding long on the rest of my holdings.  I really do believe they can do something.




I believe the same chris1983 im not worried keep given me the oppies. I'm not worried is anyone willen to sell them to me at 30c. Please be my guest, the update is around the corner?


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## Sean K (6 July 2007)

boy_888 said:


> I'm not worried is anyone willen to sell them to me at 30c. Please be my guest, the update is around the corner?



This overoptimism is recipe for disaster, IMO, and seems to be a common theme in the uranium threads. Nothing is a certainty boy888. It was not long ago that people in these threads were saying uranium would never go down. LOL. FWIW, please re-evaluate all stocks you have constantly, if not daily, to decide if they should stay in your portfolio. Holding on to anything on an initial assessment can lead to long term pain. 

This comment is not specifically related to ERN, but to anything. All the best.


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## boy_888 (6 July 2007)

kennas said:


> This overoptimism is recipe for disaster, IMO, and seems to be a common theme in the uranium threads. Nothing is a certainty boy888. It was not long ago that people in these threads were saying uranium would never go down. LOL. FWIW, please re-evaluate all stocks you have constantly, if not daily, to decide if they should stay in your portfolio. Holding on to anything on an initial assessment can lead to long term pain.
> 
> This comment is not specifically related to ERN, but to anything. All the best.




its market cap is peanuts i continue to buy... end of story! at 60 odd cets a share its dis****ling cheap....


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## Sean K (6 July 2007)

boy_888 said:


> its market cap is peanuts i continue to buy... end of story! at 60 odd cets a share its dis****ling cheap....



No need to get aggressive Boy, I was providing some friendly counter arguments for discussion. You can tell us all that you have everything under control, or you can take the offensive. 

Since you have gone on the offensive, 60 cents based on what? Some prospective EPLs and a few drill holes with half that contained potentially economical uranium, and half with practically sand? Are you doing a peer comparison with something that has exactly the same mineralisation, tonnage, grades, location, management, and has no other projects but similar to this. 

I'm not sure if you have provided a more detailed valuation before on this thread Boy, but please tell us all why 60 cents is 'cheap' for ERN. This is a simple question which you have surely analysed before because you are so sure of it. If I have missed it, I appologise, so please refer me to the post and ASF will be happy. 

Cheers.


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## SGB (6 July 2007)

We'll certainly see if the 200 MA has any strength at .60. Terribly oversold and could see a jack knife from short sellers if it does hit .50.

Its getting rather exciteing.
SGB


----------



## SGB (6 July 2007)

SGB said:


> We'll certainly see if the 200 MA has any strength at .60. Terribly oversold and could see a jack knife from short sellers if it does hit .50.
> 
> Its getting rather exciteing.
> SGB




Hold onto your pants guys. This is what trading is all about.
One minute your up the next your down


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## Go Nuke (6 July 2007)

chris1983 said:


> Hope it pays off for you boy.  ERN are back a long way.  I didn't think we would see these prices again.  With the downturn in the uranium market..a lot of stocks have really got hit hard.  Uranium spot price dropped a dollar for the first time in 40 months I think it was..I think some investors believe that is the end of the world.  There could be some other factor affecting the Erongo sp though?  Maybe some uninspiring drilling results on the way?  I'm not sure.  Thats the only thing I can think of atm.
> 
> Other than that they have extensive land coverage in Namibia with 4 granted epls and other granted mineral sands epls.  EPL's arent being granted any longer in Namibia for uranium exploration so I think its a big added bonus to the companies that allready have licenses over there.  They have only touched on one of their licenses. I'm holding long on the rest of my holdings.  I really do believe they can do something.




Well ive only been trading for 6 months now in the likes of BMN,ERN etc etc.
I'd love the ability to free carry, but as i said...after 6 months, most of my stocks are right back where they started. Including ERN seen as it hit a low of 55c for the day (so far)
Ive not had the oppertunity to freecarry anything yet!
Its all pretty depressing really. But Im not into panicing and selling. Im going to hold as I feel  more of a long term person


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## doctorj (6 July 2007)

Go Nuke said:


> Im going to hold as I feel more of a long term person



How long did you intend to hold them when you first bought them? Was it a trade that turned into investment?  What profit is "enough" for you consider exiting?


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## chris1983 (6 July 2007)

chris1983 said:


> When it drops down into a SP range that puts it Market cap well below its peers?  Thats oversold to me?  Pretty simple right.  How much further can they drop from here?  Back into the mid 50's?  Back to the 40's where I purchased my first bundle?  If they did I would be buying more.  At 55 cents the fully diluted cap would be 42 million.  so anywhere from 55-60 is amazing value to me.  I dont know if it will get back to these levels though..might do.




Well it went back down to these levels guys..let see if the 55-60 sp level was right as bargain buying.  Will be interesting to see how this all pans out.


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## SGB (6 July 2007)

chris1983 said:


> Well it went back down to these levels guys..let see if the 55-60 sp level was right as bargain buying.  Will be interesting to see how this all pans out.




Big support ATM

(2) 1,804      0.610 
(1) 10,000    0.605 
(5) 122,264   0.600 
(2) 121,616   0.590 
(2) 126,969   0.585


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## boy_888 (6 July 2007)

SGB said:


> Big support ATM
> 
> (2) 1,804      0.610
> (1) 10,000    0.605
> ...




the support is there, however i've been cautioned by the adminstaters for encouraging u guys to sell your options and shares at a lower price..... so i'm gotta be quiet for now.... goodluck to the longs don't panic!


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## sydneysider (6 July 2007)

kennas said:


> If you were trading this off the chart you might have sold yesterday, or today, depending on when you got in. 200d ma might provide some support, but there looks to be more between 50 and 60. The tech indicators there don't get any more bearish unfortunately. The fundamentalists pumping this when it was at $1.10 and all the way back down would be still holding of course. It might get back up there one day, if their analysis was correct.




I suspect that something has gotten "unglued". Originally we were expecting more results in mid July which has been pushed back to mid August. Only about 1,000 meters of drilling completed to date due to drilling in granite (which is very hard). The first six holes were reported as drilled in early June so we have only advanced about 600 meters since then? This does seem awfully slow and may have precipitated the exit of short term holders. Add in the fact that the U's have been clobbered and now we have a busted technical picture. I suppose we will have a half hearted rally at this point and then trend sideways until the drilling issue is resolved. More (significant) results may be several months away. 

I have switched into MKY as the technicals are indicating potential for a decent breakout.


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## Logique (6 July 2007)

It's all academic to me, I'm on the sideline until this one sorts itself out. 

My gut feeling is it's just that traders have got hold of it. 

But just that uncertainty, however unlikely, if a neutral announcement came along. But on balance of probability, Boy_888 might have the last laugh on us all. Look at that late day rally today, see in the chart below. From weaker hands into the stronger as they say. Good luck to you Boy_888, admire your style, not sure I'm that brave!


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## no66y (7 July 2007)

sydneysider said:


> ERN is drilling RC holes for 10,000 meters to cover an area of 1,800 x 1000m known as Area 1 which contains the historical u find contained within an area of 500 x 800 m (from memory) and aboout 35-35 meters thick u zone. RC drilling is probably to 75m per hole (may be some deeper or angled). They are drilling at this rate of 100 -120 meters per day, so they would be about 4,000m into the first stage of the program. They continue drilling on other areas so there should be many months of drilling data coming to the market.
> 
> My understanding is that they are putting at least twenty holes into the "core" of the historical resource to allow assaying and release to the market in about mid July. They will continue drilling around the core and its extensions to come up with a resource estimate.




hey guys im new to this stock, been looking at entering soon.... found an interesting quote from sydneysider about erongo's current activities. also found a pattersons report on Erongo that i couldn't see that anyie had made reference to that was published in June.

http://www.extres.com.au/documents/Announcements/Paterson June 07.pdf

enjoy.


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## chris1983 (7 July 2007)

Hi no66y..you getting a little mixed up with extract resources (EXT)  That is another promising company with promising projects..market cap 155 mil based off ordinary shares..Erongo are a lot cheaper play than EXT..their market cap based off ordinary shares is 30 mil..they also have around 5 mil cash at bank from memory.  Below is a better article explaning erongo..there was also some good information added at the start of this thread.

http://www.erongoenergy.com.au/files/announcements/RMR_ERN_26_03_2007.pdf

IMO erongo's management are a lot stronger than EXT.  EXT are starting to look interesting from here though...but if I was to go for a more advanced explorer I would go for Bannerman..just my personal opinion..this is the reason I hold both BMN and ERN.  ERN are my super spec in Namibia and BMN are a more advanced explorer with stronger fundamentals.  All the best with your decisions.


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## Basilisk (9 July 2007)

New chairiman and managing director announced today.

http://markets.news.com.au/Newscorp/Company/Announcements.aspx?SecId=ERN


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## no66y (11 July 2007)

ok, whats the deal with the options. a couple of days ago a massive order for 500,000 options popped up at 40c. which made sellers sell at this price, after a price ceiling was set by another large sell order. Now a few days later we have 620,000 options selling at 40c, with one buyer amongst them who holds 500,000. is this a direct bulling ploy to get sellers paniky to sell below 40c, cos i know that once 40c order starts to be filled the 500,000 sell options will magically disapper, just like that. must be the insto's that a rubbing their hands together, just waiting for some poor buggers to lose their cool!


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## Logique (12 July 2007)

Hey thanks Erongo management,
that's pretty cool getting a copy of Resource Stocks, I'm just checking out the article now.


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## SGB (12 July 2007)

Logique said:


> Hey thanks Erongo management,
> that's pretty cool getting a copy of Resource Stocks, I'm just checking out the article now.




Yer, got mine a couple of days ago. Its time to start my fundamental training.
Damn good reading i must say.


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## witch (13 July 2007)

Gents, I've found this (German) info in my trading system.

Erongo Energy Ltd. / Personalie

10.07.2007

VerÃ¶ffentlichung einer Corporate News, Ã¼bermittelt durch die DGAP - ein
Unternehmen der EquityStory AG.

Neuer Chairman und Managing Director bei Erongo Energy Ltd.

Balcatta, Western Australia, Australien. 9. Juli 2007. Erongo Energy
Limited (Frankfurt WKN: A0LD9K  , ASX: ERN) gibt bekannt, dass Mark Gasson
zum Managing Director und Ron Gajewski als Director und Chairman ernannt
wurden. Mathew Walker und Davikd Ledger sind von ihren Ã„mtern
zurÃ¼ckgetreten.

Mark Gasson

Mark Gasson trat dem Board im November 2006 als Non-Executive Director bei.
Er hat die Position des Managing Director mit sofortiger Wirkung
Ã¼bernommen. Er ist ein Geologe mit Sitz in Kapstadt mit Erfahrung in
verantwortlicher Position bei einer Reihe von australischen und
internationalen Bergbaugesellschaften, die in Afrika aktiv sind. Er war
zuvor Executive Director von Tiger Resources Limited und
Explorationsmanager fÃ¼r Ost-Afrika von Gallery Gold. Das Vollzeitengagement
von Mark Gasson wird die technische Expertise und das Management Team
deutlich verstÃ¤rken.

Ron Gajewski

Ron Gajewski wurde als Dirketor ernannt und Ã¼bernimmt die Position des
Chairman.
Ron Gajewski ist ein qualifizierter WirtschaftsprÃ¼fer mit groÃŸer Erfahrung
als Director und Berater fÃ¼r bÃ¶rsennotierte Gesellschaften. Ron ist derzeit
Non-Executive Director von Burey Gold Ltd und Executive Director von
Carnavale Resources Limited. Er war zuvor Executive Chariman on Contact
Resources Ltd und war als Director sowohl fÃ¼r kanadische wie auch
australische Gesellschaften tÃ¤tig.
Ron bringt ein betrÃ¤chtliches MaÃŸ an internationaler Erfahrung in die
Gesellschaft ein.

Update fÃ¼r Bohrungen

Erongo bestÃ¤tigt, dass das auf 10.000 Meter angelegte Bohrprogramm auf dem
Erongo Granit-Projekt fortgesetzt wird. Die ersten Ergebnisse , die im Juni
2007 verÃ¶ffentlicht wurden, bestÃ¤tigten eine oberflÃ¤chennahe Uranvererzung
auf der 'Area 1'-Liegenschaft und das Potenzial fÃ¼r eine groÃŸvolumige,
niedrig gradige UranlagerstÃ¤tte, die sich evtl. fÃ¼r den Tagebau eignet. Die
Bohrungen testen derzeit die Erweiterungen der bekannten Vererzung in einem
Areal von 1,8 Kilometer auf 1 Kilometer, das kÃ¼rzlich durch
geophysikalische Untersuchungen abgesteckt wurde. Vorausgesetzt, dass die
Analyseergebnisse von den Labors zeitgerecht zurÃ¼ckkommen, erwartet Erongo
Ende Juli, Anfang August weitere Bohrresultate.

FÃ¼r weitere Informationen wenden Sie sich an:

Erongo Energy Limited
Patrick Flint
Director
Tel: +61 2 9212 7999
admin@erongoenergy.com.au
www.erongoenergy.com.au.


----------



## Sean K (13 July 2007)

witch said:


> Gents, I've found this (German) info in my trading system.
> 
> Erongo Energy Ltd. / Personalie
> 
> ...



Thanks witch, that's great info. Just one small point. This is an Australian stock forum, and we speak English down here unfortunately. Well, sort of English. Germany had their chance in the 1700s to take us, but you missed out. Cheers, kennas


----------



## SGB (13 July 2007)

kennas said:


> Thanks witch, that's great info. Just one small point. This is an Australian stock forum, and we speak English down here unfortunately. Well, sort of English. Germany had their chance in the 1700s to take us, but you missed out. Cheers, kennas




He He He 
nreght hfyrt rj fdkffr lfkjruyr lflftgjeldl djhdhgkj uythngh kdidlo oiudsjtr osnjsgr
snmshjdg dsldkdiduj
sndndndn snmsnmms Kennas

Translation: 
Ha Ha Ha,
nice work kennas


----------



## witch (13 July 2007)

Hi Kennas, thank's for your hint ... and sorry, that we missed our chance in the 1700th. Next time. I'll try to use your language.


----------



## timelord (23 July 2007)

witch said:


> Hi Kennas, thank's for your hint ... and sorry, that we missed our chance in the 1700th. Next time. I'll try to use your language.




Seems like no one is following this anymore?  Seems to have settled around  the 200dma with support at 55cents and just moving sideways.  Does anyone have any news  that is coming up?  Seems to be a mixed bag with Nambian explorers.  BMN sinking fast.


----------



## pk_wasp (30 July 2007)

What do people make of the "mistakes" regarding the uranium grades in June?

Seems quite unbelievable to be honest.

Hopefully they report with more accuracy in the future.


----------



## Go Nuke (30 July 2007)

Yes, well it cost them dearly in relation to the share price, though perhaps it would have fallen anyway becasue people were expecting more.

I can't believe that its taken this long to tell us of the mistake! There appears to be some very good hits there at low depth which is good to see. Not bad in my opinion considering how little drilling they have done.

Its a shame that there has been a downturn in interest in Uranium or perhaps this ann might have done more.

Am I right in reading that they have about $4.7Mil in the bank? Thats should keep them going for a wile shouldn't it?

All in all, i dont think we are going to hear much out of Erongo until the end of the year when the drilling rigs have actually churned through some work. (August/Sept drilling starts.)


----------



## sydneysider (30 July 2007)

Go Nuke said:


> Yes, well it cost them dearly in relation to the share price, though perhaps it would have fallen anyway becasue people were expecting more.
> 
> I can't believe that its taken this long to tell us of the mistake! There appears to be some very good hits there at low depth which is good to see. Not bad in my opinion considering how little drilling they have done.
> 
> ...




One drill on such massive properties is absurd. At the current rate of drilling this will go on for several years. The drilling rate is what made all of the day traders flee some time ago. Now we will get a small amount of results in dribs and drabs over the next many? months.


----------



## bigt (1 August 2007)

Please look at the trades going through today for ERN, they look absurd, lots and lots of small trades, what this means..no idea but it looks like its being manipulated for some reason or another. Holding up well today.


----------



## exberliner1 (1 August 2007)

Those little trade are usually a programme trade used to facilitate a net exit or net accumulation... I was a bit confused as well the first time I saw this on a stock earlier this year

EB


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## Go Nuke (2 August 2007)

This is turning out to be one strange stock

After the recent bad days we have had, ERN is just sitting put around 60c.
Its trading just under the 200 Day moving average.

It would apper to me that a sideways trend channel is forming between about 54c and 61c.
The MACD is looking good though.

Anyone got any thoughts on this.
Perhaps like me investors are just waiting to see what else ERN can come up with in the exploration.


----------



## Sean K (2 August 2007)

Go Nuke said:


> Anyone got any thoughts on this. Perhaps like me investors are just waiting to see what else ERN can come up with in the exploration.



Yes, I agree. If the next news is good, then up. If bad, then down. They need to do better than their last results IMO. More of the same and they'll be struggling. What they must get is majority drill holes with good widths at 200ppm ++. Anything less and I think Mr Market will be dissappointed, as they were with the first set of results. Bad market to be releasing average results in too. All the best!


----------



## bigt (10 August 2007)

I know its been a bad few weeks for the ASX in general...but this stock is being seriously manipulated down using some interesting tactics. For the last few weeks, the buy side is extremely thin in the morning (IMO to push the price down), then all of a sudden huge buy orders come in at the top to snap up any weakness. These big orders disappear until the next day..first thing in the morning, no big orders, buy side thin, then wham..100k orders come in at the top. Its hard to see the effect in a dropping market, but I'm sure something is going on to push the price down (Even further than it would on a day like this). Reasons why are beyond me but its just interesting to see these tactics.


----------



## Sean K (11 August 2007)

Finally failed at 55 support. I think I considered between 50 and 60 to be generally good support but who knows now with the way the market's behaving. Might be an opportunity to pick up the scraps when the dust settles. Whenever that is.


----------



## Logique (11 August 2007)

I found bigt's comment interesting,
as compared to some larger U stocks it certainly has been behaving strangely. Perhaps it's just that it's more junior, with a low intensity drilling program, but this recent pattern of holding just below 0.60 is bemusing.

I like 0.40 as support, and to be honest, think it's likely to go there. But then again it is prone to do the unexpected.


----------



## SGB (11 August 2007)

kennas said:


> Might be an opportunity to pick up the scraps when the dust settles. Whenever that is.




I think its gonna be one of these stocks that in 2 months time we will all be saying:

Gee I can pick a bottom 
*or*
I knew it !! Why didn't I buy more 
*or*
I wished I hadn't of done that 

LOL

SGB


----------



## pk_wasp (13 August 2007)

Trading Halt this morning, till Wednesday.

More results.

Lets hope better results and no mistakes this time


----------



## Go Nuke (13 August 2007)

Gee if it isn't good, I cant imagine how much lower the share price will go

I bought in at 58c way back. Perhaps i should set a stop at 45c.
I'm usually optimistic (or try to think that way) though Uranium is NOT the flavour at the moment.


----------



## timelord (14 August 2007)

Has anyone digested the report yet?  The market does not seem to care but seems to be the case for Uranium in general.


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## Reefer (14 August 2007)

Pretty poor opening in Germany suggests they have not been too impressed with the report - down 15.9% to 25 euros. Think we have to just hang in until the market picks up, management aren't announcing any bad news but it would take some extraordinary news to set this market alight.


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## Go Nuke (15 August 2007)

Well down about 20% today!
How *$%@&!ed is that!

Ive been holding since the start of the year..now all Im holding is a loss.


----------



## ta2693 (16 August 2007)

if I was holding ern, I must be very panic now. 
I do not know whether that means ppl like me is not long term investor in nature?


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## Sean K (16 August 2007)

Maybe this is undervalued now?

I don't know. I was trading this on technicals and sold out when it broke down through the H&S neck line and obvious uptrend and horizontal support.

I hope it comes back for long term holders, in this environment.


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## Go Nuke (16 August 2007)

Yes well im certainly kicking myself Kennas, though trying to remain positive and using this as a tough learning curve

I guess I was expecting too much in the way of returns and not knowing how to use trailing stop losses meant that Im pretty screwed at the moment Well only on paper I guess.

It picked up nicely by the end of the day, so I guess you could say that if tomorrow is another good day its a Bullish Piercing Pattern {would that be right?} 
Though the market is so volitile that I don't know if those patterns really apply at the moment


----------



## infinitus (20 August 2007)

Hi everybody!

I have read this ERN message board for quite awhile and I want to thank all the people contributing.

I am in ERN on an average of 0.60. My first buy was at 0.95  
and I decided to buy more at 0.34. I hope this plays out well 

Here is an actuell overview of the market cap of some companys and their reserves (this info was given first a few month ago here on this MB, so I used this Info and updated the market cap):

Uramin (UMN)         58 mio. pound                       *2609 mio market cap*
Forsys (FSY)          50                                        *276*
Paladin (PDN)        130                                      *3342*
DeepYellow (DYL)    50                                        *350*
Bannerman (BMN)    50 (-200)                              *186*
Extract Res. (EXT)   ???                                      *147*
A-cap Res (ACB)      ???                                   *   101*
Xemplar Energy (XE) 10                                     *   ???*
Omegacorp (OMC)    13                                   *  (Takeover for 180 mio)
*
Erongo                   20-40 (conservative estimate)   *17 mio*

If one calculate an average of reserve and market cap, one get a value in market cap of 20 mio AUD per 1 mio pound (ok, ok: this depends of a lot of other factors. Consider it as food for your mind : )
This could give ERN a market cap of 400-800 mio AUD

And if my theory overestimates the numbers by 50%, we get a market cap of 200-400 mio AUD

At these levels now ERN could have the potential for a 10 bagger at least.

What do you all think?


In the calculation of ERN reserve I used to calculate with a conservative 125ppm.

*This gives for Area 1:* 

800x400x100x2.5x125ppm = 22 mio pounds

If we take the whole area:

1800x1000x30(my guess of average)x2.5x125ppm = 37 mio. pounds


*Area 3:*

5000x2000x6x2.5x125ppm = 41 mio. pounds (this is only a wild guess)


Best greetings from Frankfurt to all,

Infinitus


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## infinitus (20 August 2007)

Hello,

sorry, in my previous posting it should read ressource instead of reserve.

*Than I found newer data of Forsys*:
http://biz.yahoo.com/ccn/070709/200707090401094001.html?.v=1

Table 1   Summary of Valencia Uranium Mineral Resource, June 2007
---------------------------------------------------------------------------
Category                            Cut-off       Tonnes     U3O8     U3O8
                                 U3O8 (kg/t)   (millions)   (kg/t)   (Mlbs)
---------------------------------------------------------------------------
Measured                               0.06         18.2     0.14      5.6

Indicated                              0.06        146.0     0.11     35.8

Total Measured and Indicated           0.06        164.2     0.11     41.4

Inferred                               0.06         92.4     0.10     20.7
---------------------------------------------------------------------------
All tabulated data has been rounded to one decimal place for tonnage and
 two decimal places for U3O8 grades.


Table 1 describes a mineral resource (total measured, indicated and inferred) of 62.1 Mlbs U3O8, as compared to the 49.6 Mlbs U3O8 outlined in the PFS which was reported on May 16, 2007, representing an increase of 25% (illustrated in Figures 1 and 2).


*For Uramin i got the following data:*

http://www.minesite.com/companies/comp_single/company/uramin-inc.html

Namibia: 18.4 mio pounds + 140 mio pounds (inferred mineral ressources)

Central African Republic: 41 mio pounds

South Africa: 32 mio pounds

http://www.tmcnet.com/usubmit/-namibia-industry-areva-offers-us25bn-uram-/2007/08/14/2862640.htm

AREVA offers US$2.5bn for UraMin
"Denver-based SRK Consulting is
expected to complete its bankable feasibility study of the Trekkopje
project in the third quarter of 2007. SRK's final resource upgrade,
completed in May, has more than doubled Trekkopje's measured and indicated
resources to 335m tonnes, representing a mineable reserve of 110m lb
(49,900 tonnes) of contained uranium. Some 70% of the ore is within 8
metres of the surface, making open-pit mining feasible, although large
volumes of water will be required by the alkaline heap leaching process to
be used in the plant. Some 15m cu metres/year of water will be required,
and to supply this, UraMin is to construct a large seawater desalination
plant just to the north of Swakopmund at a cost of US$120m-about one-
quarter of Trekkopje's total estimated capital cost-for which a tendering
process is already under way. Trekkopje is expected to operate for ten
years, with an expected 75% recovery rate of uranium and operating costs
of some US$20/lb, less than one-sixth of the current uranium price."

It is late now and I try to recalculate the numbers tomorrow. I should have checked the numbers of ressources befor I calculated the table  Maybe someone has newer numbers of the other companies.

Good night or good morning to all,

Infinitus


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## Go Nuke (18 September 2007)

Gee hasn't old Erongo really died in the a*#e!

Not much action at all around these parts. I guess they haven't really come up with anything spectacular of late, in a bear market on Uranium

Perhaps when BMN gets up, it might bring more attention back to the region.


----------



## Sean K (7 December 2007)

Go Nuke said:


> Gee hasn't old Erongo really died in the a*#e!



Pretty much, and I'd like to add a little humour to the thread with the following quotes and charts.

Just for fun. 

25 May, ERN sp about $1.00:


chris1983 said:


> Happy to be holding. ....Look at the market cap..still very cheap.




28 May, ERN sp over $1.00 and ECH/FSN $1.60:


chris1983 said:


> Raf this one will do as well or even better than ECH.  ECH also have strong management..they have released a steady flow of positive announcements.  I hold ECH so of course I want it to continue its upwards run but I do feel Erongo is considerably undervalued.  .... I expect further gains …….  I am almost 100% confident …...  The companies who did the previous drilling were respected so I think its a gimme.




ECH changed it's name to FSN.

LOL


----------



## bigt (7 December 2007)

..it sure has died in the rectum, though with results due out any day (late-nov per management) from drilling at some of their large Namibian holdings, and the "nearology" effect from BMN / EXT etc, we may see some positive movement. Sentiment has been smashed to smithereens on this one, though has massive amounts of land in promising regions.


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## Sean K (7 December 2007)

bigt said:


> ..it sure has died in the rectum, though with results due out any day (late-nov per management) from drilling at some of their large Namibian holdings, and the "nearology" effect from BMN / EXT etc, we may see some positive movement. Sentiment has been smashed to smithereens on this one, though has massive amounts of land in promising regions.



Apologies to any long term holders for poking a stick at this one. 

Yes, nearology could have some effect here, and I _hope _ it does. I only originally traded this on the U hype and chart as there were no _fundamentals _ to speak of. 

Could be a candidate for a great turn around story if they get it right. 

All the best!


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## Go Nuke (7 December 2007)

kennas said:


> Apologies to any long term holders for poking a stick at this one.
> 
> Yes, nearology could have some effect here, and I _hope _ it does. I only originally traded this on the U hype and chart as there were no _fundamentals _ to speak of.
> 
> ...




Nah thats alright Kennas

ERN was one of my first buys on my entry into the stock market. I was holding out for my entry point to have doubled in value then sell half...but it didn't quite make it

And of course knowing very little about when to actually SELL a share (I still know little) I have held.
ERN does have a large piece of land and I'm hoping because Im still bullish on Uranium, that it the sp will be revived over time. Though i will have alot twichier finger on the sell button this time, hehe
Perhaps focus more on what the moving averages are telling me.
The problem with ERN is they are sssoooooo slow at getting any drilling done and making announcements.

I must say I was alittle unimpressed with the low excise price of the options that the directors have taken. I'm sure its relevent to where the current share price is, but compared to where it was 6 months ago, I think they should have set the excise price alittle higher.

Anyway.....Its more learning for me i guess. If only I could figure out when to sell


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## bigt (11 December 2007)

ERN...macd just crossing into positive territory...buy: sell ratio at 6: 1

Drilling with 4 rigs, results due any day now. They have historically had some decent hits with the aim to jorc out a low grade,large tonnage resource. Majority of U is close to surface.

Maybe the worm is turning,I think this was heavily oversold and has a lot of upside. Cheers all.


----------



## Go Nuke (24 December 2007)

For those of you like myself who follow Erongo, I have sent Mr Gasson a email today asking about any results from the latest drilling.

In the last ann they hoped to have some by late November.

I will post his reply when i get one, though like some of us he is probably on holidays.

Gonuke


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## Go Nuke (27 December 2007)

Here ya go guys my reply from Mr Gasson.

WTF is with the 1 drilling rig??


We value your support as an investor and will always make time to answer any questions you might have.



I must apologise for the late reporting of assay results. The assay lab which we use in Johannesburg has had a number of breakdowns with the result that the turn around time has been extremely slow. I am looking at other options to try to speed up the process. The result is that I am still waiting for the remaining samples from Area 1 and cannot comment on when results for Area 3 or the Spitzkoppe will be available. I am pushing to get them early in the New Year. 



We are currently drilling with one RC drill rig while we evaluate drilling results and plan work programmes for 2008.



Thank you for your support and all the best for 2008.



Kind Regards

Mark Gasson


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## Sean K (7 January 2008)

chris1983 said:


> Happy to be holding.  Stop trying to read the little breakouts up and down.  Just buy and hold based off fundamentals
> 
> Look at the market cap..still very cheap.



Now broken support at 30 cents unfortunately. Hopefully for longs this doesn't turn into a has been due to lack of interest. Perhaps a few good drill results will turn it around and U heading back towards $200....


----------



## Go Nuke (7 January 2008)

God its a nightmare isn't it.

I thought the announcement was pretty pathetic to be honest and I can see why it got dumped.
The grades a very average, well probably below average really and it takes so dam long for this company to make announcements.

In the latest ann it didn't really tell us anything we didn't already know.
I think if they had more drilling rigs they could cover more of that enourmous area they have and hopefully get some better grades.

Still holdling but god knows why.
Guess it was a beginners trade and Ive learnt alot since I first bought in.


----------



## damascus (7 January 2008)

I too am long and wrong on this one, however they do also have a very respectable mineral sands project which of itself could be worth many times the current share price. What we don't know is whether the grades are economical.I have heard that ERN may be releasing a long awaited update on this project in about 2weeks....we'll see


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## Go Nuke (18 January 2008)

Gee ERN got (this requires bold text)...*ABSOLUTLEY SMASHED* TODAY!

I feel really insulted (and a bit worried) to see that buy order for 1Mil ERN shares at .002c

ERN just doesn't seem to have anything going for them now that they seem to have found bugger all Uranium.
I don't really know whats so great about Mineral Sands either.
Can someone please give me an example of a company that is successful with mineral sands?

I cant see Erongo doing very well in the future till either the bulls well and truly come back to Uranium (which I am still confident of.Uranium WILL be a fuel source of the future)..OR they strike something far more significant.

I think this stock will go down as my worst investment ever.....well lets hope so


----------



## Morgan (18 January 2008)

Go Nuke said:


> Gee ERN got (this requires bold text...*ABSOLUTLEY SMASHED*TODAY!
> 
> 
> I think this stock will go down as my worst investment ever.....well lets hope so





Well, you could be sitting on a truckload of URA ..... 

If you want to check out some mineral sands type projects of other companies, check out ILU Iluka's website http://www.iluka.com 
(although ILU sp nothing to get excited about either....)


----------



## Reefer (19 January 2008)

Go Nuke
It may be that .002 is overpriced. Perhaps the person who submitted the buy bid is a fool, but surely there cannot be much more downside at .002.  I'm still hopeful that we will get a ride on the coat tails of Bannerman and the other reputable Namibian explorers, so I'm still buying.  Could be the worst decision I've ever made but we will see before the end of this year, maybe.
Not sure on the mineral sands value, Consolidated Rutile and Ikuka are two of the bigger ones on ASX but nothing great in either share price.

From Wikipedia:
"The grade of a typical heavy mineral sand ore deposit is usually low. Within the 21st century, the lowest cut-off grades of heavy minerals, as a total heavy mineral (THM) concentrate from the bulk sand, in most ore deposits of this type is around 1% heavy minerals, although several are higher grade.

Of this total heavy mineral concentrate (THM), the components are typically

Zircon, from 1% of THM to upwards of 50% of THM, 
Ilmenite, generally of 10% to 60% of THM 
Rutile, from 5% to 25% of THM 
Leucoxene, from 1% to 10% of THM 
Trash minerals, typically magnetite, garnet and chromite which usually account for the remaining bulk of the THM content 
Slimes, typically minerals as above and heavy clay minerals, too fine to be economically extracted. 
Generally, as zircon is the most valuable component and a critical ore component, high-zircon sands are the most valuable. Thereafter, rutile, leucoxene and then ilmenite in terms of value given to the ore. As a generality, typically the valuable components of the THM concentrate rarely exceed 30%."
 and also in Wikipedia
"The coast of Namibia is host to economic diamondiferrous beach sands, which are exploited by building sea walls and isolating stretches of coastline. The beaches are so isolated that they are sometimes processed in their entirety, down to the bedrock, in search of diamonds. Such deposits have been sought around the world, with sporadic reports of high-value stones but no instances of economic quantities of sediment."

From the Erongo ann this week:

A table was posted of the samples of Total Heavy Minerals (THM).  It doesn't paste too well but the highest percentages are with Ilmenite which is the 4th most valuable mineral sand, there are reasonable percentages of Grade 3 which is more ilmenite and also Leucoxene which is the third most valuable.  There are low values of magnetite which is "trash" but also low values of zircon which is the cream of the crop, and rutile.  Zircon can account from anywhere from 1% to 60% per Wikipedia.

Notes - Detailed analysis of the mineral components and composition of the samples
taken is currently in progress and is expected to be completed by late January. The
following preliminary information is available in respect of the categories:
• Grade 1 Magnetics – This component is comprised of mostly magnetite.
• Crude Ilmenite – This component is predominantly comprised of ilmenite, but
preliminary results indicate the samples include small amounts of other
unidentified materials.
• Grade 3 Magnetics – Component minerals are currently being determined. This
category may include weathered ilmenites, iron rich garnets, leucoxene and
pseudo rutiles and ilmenites.
• Other Non Magnetics – This component is comprised of zircon, rutile and
possibly monazite. There appears to be nominal levels of garnet.

It is too early to see if these deposits are worth anything or not, will have to wait for the appraisal report due late January.  But Wikipedia states that most deposits have only 1% THM whereas the ERN samples go from 2% to 12% so they may be quite rich deposits.

Good luck to all long suffering holders. Picked up quite a few oppies yesterday at 4c, which will help offset those i bought at 79c. I think its called "averaging down", but also referred to as throwing good money after bad.


----------



## Go Nuke (21 January 2008)

LOL..I liked that last bit.

Thanks Reefer for posting that info for me.
I didnt even think of Wikipedia

Instead i just typed in Erongo and Mineral Sands.
I agree with what your saying about riding along with Bannerman..hopefully when they release their resource ann this month.

I had a quick look at CRL and Iluka..but gee you wouldn't really want to compare their sp with ERN's at the moment

Interesting that you picked up some options. i don't know a whole lot about option (though i understand the excise price etc)
Would you trade those options or hold them till you thought the sp was at its highest and excise them before the end date of the option?

Thx again


----------



## Reefer (21 January 2008)

Nuke
You get much better leverage with options which is good when the "heads" (or fully paid shares) are going up, and bad when they are going down.  I used to do a straight calc based on the exercise price so if shares were 30c say, and options had 20c exercise, then you wouldn't want to pay more than 10c for the oppies.
But someone on another thread talked about oppies sometimes being worth a lot more than that and directed me to the ASX site where you can read up on how to value them.  You basically take into account the exercise price, the term to expiry, and the prospects of the company, and strike a premium that you are prepared to pay.
The Erongo options cost 20c to exercise by 30th April 2009 or they expire and you lose your money.  At last traded prices shares were 21c and oppies 4.2c - considering they still have 15 months to run you would hope in that time the company drills something decent or gets a ride on the uranium price, or BMN, or the mineral sands offshoot happens.  If the shares can clamber back to 42c or double in price, then the oppies should go to 25c or more, which is a pretty good percentage move.
The danger will be in April 09 if the shares are only 17c, you may not want to drop another 20c each into the black hole that the investment has become, to convert the oppies into shares.
You need to find companies with potential, where the expiry time is still 12 months away at least, preferably two years.
I have ERNO, HLXO and RCIO as well as "heads" in other companies.  The RCIO I bought when I sold the RCI shares I had, because I wanted to retain an interest without being exposed to such a large investment.  Their options have an exercise price of 30c and expire on 30/11/09 so have the best part of two years to run.  At 4c they don't appear a good buy compared to the shares at 20c but with the longish term and the potential of their coking plant in China I reckon they are worthwhile.  Watch the quarterly figures due out by the end of Jan because they will show almost a full quarter of the coking plant in China, rumoured to be making $1 mill a month.

I will probably sell some of my Erongo options if they rise in price to average down the price of the ones I intend to keep.  I don't think there is much downside in ERNO below 10c, as long as we aren't heading towards a US inspired depression.


----------



## damascus (19 February 2008)

Following is a reply to an email to MD of ERN Mr Mark Gasson sent by broker

"Apologies in the delay in getting back to you but I was in the field in Namibia and out of email access.



To answer your questions the EIA report has been completed and is with the Ministry. We are waiting for the final clearance which we have been told will be within the next two to three weeks. In the meantime we have conducted an orientation hand auger drilling programme and were able to recover samples to a maximum of 10m. These samples have been submitted to the lab for analyses and will give us an indication of whether heavy minerals persist at depth. 



Our field teams are currently progressing with new target identification and detailed mapping and sampling of identified areas of uranium mineralization on both EPL’s to the north and south of the Erongo mountains prior to drilling. This includes target areas around Area 1. There are also areas of known mineralization on the southern tenement which we are currently evaluating. As you correctly say we will have to define target areas very carefully before drilling. There are still untested areas on the Spitskoppe project as well as an area of 5 x 2km with visible carnotite exposed in the top 2m which was not tested adequately as recoveries were extremely poor in the top 2-3 metres in the recently completed RC drilling programme. We are evaluating other methods to test this mineralization.  



The majority of work to date has been focused on targets identified by Goldfields. We are confident of finding new target areas on the untested 400 odd square kilometers where similar rocks and geological structures are recognized. In addition only a small portion of the Spitskoppe tenements were tested. We are also constantly evaluating new uranium and mineral sand opportunities in Namibia as well as in other countries in Africa."

Call me an optimist but it would seem there is far more upside to Erongo than the share price currently reflects.


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## Sean K (20 February 2008)

damascus said:


> Call me an optimist but it would seem there is far more upside to Erongo than the share price currently reflects.



Well, call me a pessimist, but I can't see anything in that email that indicates the sp should be anywhere but where it is. Can you point out the facts there with associated analysis to indicate why the market cap could be higher?  I'd be very keen to get in at the bottom of any stock, but your post doesn't really indicate that this is, has or will bottom. Are you a long term holder, or looking for an entry?


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## Go Nuke (20 February 2008)

> Call me an optimist but it would seem there is far more upside to Erongo than the share price currently reflects




Your an optimist!

I'm long on this stock and from the reply to Mr Gasson i got and the one you have kindly shared with us....I cant see why i was paying so much for this stock at .58c

I know it was just people caught up the the uranium bug.

I think they have very little and sound either pretty poor or unorganised at getting stuff drilled.

Once agin I'm really disappointed in both myself and the current share price of Erongo.

Its clearly going to be a 10c stock soon.
Nearly there today infact


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## Go Nuke (25 February 2008)

Some big volume today for ERN.

2 really big cross trades were made at 13c and 13.5c.

Ive no idea if this means some kind of news is comming or just insto's trading perhaps


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## SGB (4 June 2008)

MMM....

Whats going on guys

I jarred my finger looking for these buy contracts burried at the bottom of the draw. A bit faded now.

Or am I just getting excited over nothing

Anyone.

Cheers


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## Go Nuke (4 June 2008)

Yeah OMG up 90% right now!!

I always check on ERN just to see how well its disappointing me and thought to myself when it closed at 10c yesterday that this was kinda bullish.

But Im holding such a loss with this one that there was no way i could bring myself to throw more cash at it.

Oh well.

ERN seems to have left their Uranium by the way side alittle in my opinion.
The last reports seemed to focus more on the mineral sands, which isn't much interest to me.
I know that a little good sentiment is coming back to the U sector, but hardly enough to warrent todays price rise.

I's say that due to the very thin sell depth, thats whats made the sp jump so high so quickly.
Only 27 at the moment to give it a 90% rise.

BMN, PDN etc are down today, so its nothing to do with Uranium in Nambia in general.
Reading the last report, if an ann were to come out (other than the speeding ticket they are sure to get) I believe it would be either the environmental clearences to begin aircore drilling of the mineral sand project *or* follow up drilling and perhaps some results from the Radon X surveys from the Erongo Granites Project.

Either way it great for anyone who bought -10c:grinsking


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## Go Nuke (4 June 2008)

Wow up 150% now.

Gee im almost at a 50% loss now..lol.

Wish i knew what was driving this.

Some really strage trades too this arvo.
Like 1 share bought at 14c


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## SGB (4 June 2008)

Go Nuke said:


> Wow up 150% now.
> 
> Gee im almost at a 50% loss now..lol.
> 
> ...




Your right about the strange trades GN.
What could it be?

It could be a technical issue

SGB


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## Pat (4 June 2008)

Go Nuke said:


> I always check on ERN just to see how well its disappointing me and thought to myself when it closed at 10c yesterday that this was kinda bullish.



Go nuke I check ERN every now and then to remind me of the good decisions I've made. I hadn't checked for so long I thought "what a dog stock" and WOW!!! Whats that big candle doing there.

As always,


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## Go Nuke (4 June 2008)

Pat said:


> Go nuke I check ERN every now and then to remind me of the good decisions I've made. I hadn't checked for so long I thought "what a dog stock" and WOW!!! Whats that big candle doing there.
> 
> As always,




LOL. Well yes thats one way of looking at it.
I guess you see a glass half full too

Oh well, time will tell.


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## Pat (5 June 2008)

Go Nuke said:


> LOL. Well yes thats one way of looking at it.
> I guess you see a glass half full too



Depends if your empting the glass or filling it. If you found the glass like that? Then its a glass with some water in it.

ERN's come back as expected, but no volume. Some buyers still seem interested.

And no speeding ticket?


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## Go Nuke (5 June 2008)

Yeah WTF is with that????

No speeding ticket.

I cant believe that!

Right about the depth though. Must have been lemmings jumping on the company just to find that the sp is heading back south today.


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## Go Nuke (6 January 2010)

I must be the only one who still watches this stock.

Not suprising really.......is the company still alive??? What the hell are they doing?

I'm starting to think they are just paying themselves a wage and doing nothing else.

Might send them an email and ask them exactly that...and about as blunt too.


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## alf_ber (9 November 2010)

something strange happend with this lousy stock. is anyone aware what's the reason of last gain ?


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