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ECH - Echelon Resources

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kennas said:
What an extraodinary run. Are you still holding all Chris or taken some profits. Just 3 sellers at 130, 148, and 150. Amazing. No one wants to sell. Only see this once in a while.
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Still holding. Not long to go after I sell enough to free carry a decent holding though. So hopefully they keep rolling on for a little bit more and get a bit of a push with the up-coming announcement to the airborne radiometrics.
 
I reckon it'll get another speeding ticket!
20% increase today.

This would have been a better short term buy rather than BMN atm
 
Go Nuke said:
I reckon it'll get another speeding ticket!
20% increase today.

This would have been a better short term buy rather than BMN atm
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GoNuke based off Bannermans news etc I would of advised them over ECH. ECH were one of my new spec plays that have been a great performer. Its pretty amazing really. Shows what shares can do when the are tightly held and have prospects close to some large deposits. I always new ECH had what it takes to bring great rewards. Strong Radiometrics/close proximity to large deposits/historic drill holes/small amount of shares on issue. Im glad I went in quite heavy. I dont usually put too much money into spec stocks but I have a decent holding in these. Be patient with BMN. Remember when they ran from 2.50 to 3.90. This happened over such a short period. Investors will see the true potential eventually.
 
Good consolidation and support for Echelon. Buyers coming in when the price fell. Would be good to see the SP hold around this level untill their next announcement is released. Still not many shares for sale and pushed down on low volume so I think they could pull back into the 1.20's quite easily. Especially when news is close.

"The Yeelirrie South tenements located in Western Australia have the potential to host significant uranium mineralisation. During the quarter an airborne radiometrics survey was designed and contracts have been signed. The proposed program is designed to cover a total of 7,750 line kilometers and will be flown at a line spacing of 100 metres. The survey is expected to be completed by early May with the results being interpreted over May/June."
 
Update for Echelon. Probably should of posted this yesterday. Its more experience onto the board for Echelon. This is shaping to be a strong player in uranium exploration. Just my opinion. They have an experienced board and they are ready to show results. Remember the airborne radiometrics for yelleerie south will be the first price sensitive announcement released later this month or early June and I'm betting it will be very positive. Very happy with how the SP has held firm. Hoping it continues this way untill we do receive the news and then it will be ready to run further.

APPOINTMENT OF MR MATTHEW YATES AS DIRECTOR

The Directors of Echelon Resources Limited (‘Echelon’ or ‘Company’) are pleased to announce that Mr Matthew Yates has agreed to join the Company as a non-executive Director. Mr Yates will consult to the Company on technical matters, advising the Board in relation to its existing uranium tenements in Queensland and Western Australia.

Mr Yates is a geologist with 20 years industry experience, covering most facets of exploration from generative work to project development.
Mr Yates is currently the Managing Director of OmegaCorp Limited and has been instrumental in developing OmegaCorp’s uranium tenements in Zambia through a successful exploration phase and a recently completed scoping study. OmegaCorp’s project now contains a JORC compliant inferred resource of 13.7 million pounds of U3O8 and the company has recently been the subject of a Takeover Offer from both Denison Mines Corp and Central African Mining & Exploration Company plc. Mr Yates’ efforts have been directly attributable to the significant increase in the market capitalisation of OmegaCorp since it listed on the ASX.

Mr Yates has worked in Australia and southern, east and west Africa, Central Asia and the Gulf Region. He has managed exploration teams at the Nimary and Buhemba gold projects in Western Australia and Tanzania respectively. Mr Yates has an applied technical background and has held senior positions for over fifteen years, including Exploration Manager for Tanganyika Gold Limited.

In addition, Mr Yates was previously a Director of Echelon from May 2002 to August 2005 during which time Mr Yates was responsible for the management of the Company’s Queensland tenements.
 
Another good announcement for Echelon. Looks like the ex Directors of Summit Resources and Omegacorp are taking charge for Echelon. Really progressing both WA and QLD projects nicely.
 
Echelon continues to hold its ground...even after running so hard so fast. There has been no major pullback in SP. Looking really good with some large buyers in there to support the price. Significant news is also on the Horizon. If they get strong airborne radiometrics directly beneath the largest calcrete uranium deposit in the world I am expecting some fireworks..even if it is located in WA. They also have their QLD tenements and airborne radiometric and magnetic surveys are scheduled to start running some time this month. There will be lots of news pending in the next couple of months.

"The Yeelirrie South tenements located in Western Australia have the potential to host significant uranium mineralisation. During the quarter an airborne radiometrics survey was designed and contracts have been signed. The proposed program is designed to cover a total of 7,750 line kilometers and will be flown at a line spacing of 100 metres. The survey is expected to be completed by early May with the results being interpreted over May/June. It is expected that mapping and drill targets will be identified for follow in the second half of the year."
 
I'm expecting this to run further tomorrow. Hit record highs today of 1.38.5. Depth looks strong and some large buyers were coming in.
 

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Am I the only one riding this? Still moving niceley. Touched 1.40. There was a large seller at that price and most of it has been taken out. Once we get through that level its looking extremely strong to run well over 1.50.
 
I think someone is accumulating these. there has been a 50,000 buyer for the past few days. Once he gets taken out he returns with a fresh bid. Hitting all time highs this morning. Still running at 1.45. Getting closer to my initial price target of 1.60. I may have to hold the way they are looking. I think there is further to run.
 
Announcement out.

Additional Historical Data Discovered for Uranium Project

Continuing to run..just touched 1.50. This was news I didn't expect..so there is plenty of news to come. I think there will be plenty of news to keep this one running hot.
 
ADDITIONAL HISTORICAL DRILLHOLE DATA DISCOVERED FOR ECHELON’S
“VALHALLA NORTH” URANIUM PROJECT

Echelon Resources Limited (“Echelon” or “Company”) is pleased to announce that it has discovered additional historical drillhole data relating to its “Valhalla North Project” (formerly known as “Greenstone”) located directly north of the Valhalla and Skal Uranium Projects operated by Summit Resources (Figure 1).

In 1974 Agip Australia Pty Ltd carried out a core drilling program on the Duke Batman prospect within the Company’s Valhalla North Project with the best results from the program (Table 1) being:

• 4.0m @ 0.308% U3O8 - Hole DBNX 02
• 3.0m @ 0.139% U3O8 - Hole DuD 1
• 7.0m @ 0.061% U3O8 - Hole DNB 03

These drill results provide additional confirmation of the prospectivity of the Company’s Valhalla North Project, following on from the previously announced high grade results from drilling undertaken by Queensland Mines Ltd in 1971 (refer ASX release dated 4 April 2007). The percussion drilling program carried out by Queensland Mines Ltd on the Duke Batman prospect included the following assay results from a 5 hole program (Table 2):

• 17.8m @ 0.123% U3O8 - Hole PNB 05
• 6.97m @ 0.091% U3O8 - Hole PNB 03
• 2.7m @ 0.048% U3O8 - Hole PNB 02

The Valhalla North Project is located 45 kilometres to the north of the Valhalla and Skal Uranium Projects operated by Summit Resources. Summit has recently reported a 57 million pound JORC compliant uranium resource for the Valhalla Project. In addition, Summit have reported encouraging uranium intersections at their Watta and Warwai prospects which are located 20 kilometres southeast of the Valhalla North Project. Both the Valhalla and Skal Uranium Projects were previously drilled by Queensland Mines Ltd in the
late 1960’s and Agip Australia Pty Ltd in the early 1970’s.
 
This mob just continue to amaze me...what a run and well spotted Chris. I must admit I was a little unsure of ECH when you first indicated they were your "chosen" Aussie U explorer.

With those drill results, they will have a decent resource...and not a drill in sight! Could keep going and going.
 
Good image shows you how prospective just one of their tenements are. Once they source the historical drill holles and drill some of their own they should be able to get JORC together pretty quickly.
 

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wow this stock just keeps going and going!

Now they are going to list on the TSX as well...just weeks after BMN ann the same thing.
As completely unpredictable as the stock market is, i reckon the Canadians will leap onto this.ECH having their tennaments so close to SMM and with an international company like Areva trying to tap into their Uranium directly, this might suggest to some people that it could happen to ECH in the future.

Could ECH be another SMM?
Even with the Uranium sector cooling off, ECH defys the other U players and keeps rising.
For a short term play...I wish i had of bought some ECH

GN
 
Thanks guys..Im in sydney atm so I cant post much. But it definately looks good for ECH. I'm holding off on my profit taking just for now. Radiometric results should be out soon. All the best to holders.
 
Im wondering when this one will take a breather but the buyers keep coming. It has been an amazing and excellent run.
 
Well this one finally had a down day on friday. It needed it. I would like to see it consolidate for some time around 1.60. It is holding very well. Some how I dont think this run will be halted though. I took some profits on Thursday and am now free carrying 10,000 Echelon. Holding long on these to see what happens. All the best to holders.
 
Trading halt. Maybe results from yeelirrie radiometric surveys? Would that require a trading halt? hmm. I'm expecting some good news to come out from this. Good luck to holders.
 
Chris1983, I have to say well done. You picked it out when it only in 60c to 70c range, right now it is 160. Amazing. What a pity, I am not with you on this one.
 
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