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Re: USA - UraniumSA

I agree there, I thought the ann was rubbish, that is a very very small intersection.

Although I suppose it confirms there is potential there, I dont believe it is warranted to almost double the sp.
 
Re: USA - UraniumSA

Yes I agree. The announcement didn't seem that impressive however I threw some capital at it for a nice little profit. Clearly uranium discovery news can generate a bit of a frenzy.:eek: Here's hoping similar news and action comes in for MKY very soon.:D
 
Re: USA - UraniumSA

My old man bought into this at about 35c (not on my advice), so i did a full analysis on the company.

Lets just say it was very brief, as realistically they have/had nothing at the time of my analysis, except for a few anomalies, and a fair size chunk of ground.

I think this is why the market has picked this up today. It has been slowly drifting downward, and now drilling has confirmed that there is uranium there (even though low grades), hence making it worthwhile to continue.

So now the market know they have some U, which is better than not having any at all. :2twocents
 
Re: USA - UraniumSA

Don't tell me that no-one has noticed today's significant upgrade announcement by USA which resulted in an 82% leap in their share price.

Quote

Confirmation of New Uranium Province in South Australia
Higher Grade Intersections from Exploration Drilling, Mullaquana Project

Exploration drilling continues to expand mineralization at Mullaquana Project. Drilling to the south and north of the Blackbush Prospect has continued to intersect potentially economic grades and thickness of uranium mineralisation, confirming the predictive strength of the geological models and ultimately leading to a significant increase in the Company’s exploration objectives.
The Company has now revised its exploration objectives upwards to between
50 to 80 million tonnes of uranium mineralisation at grades of between 0.01 %eU3O8 (lower cut off grade) and 0.20 %eU3O8 (grades from recent drilling).

Unquote

Looks like USA is finally starting to realise its potential when it was spun-off from MTN nearly 3 years ago. Certainly glad I subscribed their recent June spp at just 7c.
 
Re: USA - UraniumSA

too late to get on board do you think?

someone suggesting to me this morning to get in right now. :):):)
 
Re: USA - UraniumSA

I think this one still has some room to move for the remainder of 2009. If you look carefully at the announcment, its actually very impressive. Its a big upgrade to the grades which were previously fairly low, offset by the fact that it is at a very low depth. Keeping in mind that they have a big target.

After the announcement, USA jumped to around 13 cents. When people actually read the full detail of what they were saying, thats when it jumped signifcantly, as high as 25 cents. Even well after the announcement, there is still good volume here.

They are doing a lot of work over the next few months and are expecting to upgrade the JORC resource before the end of the year. You can bet that they will be trying their utmost to get those options cashed in which have an excercise price of 25cents. They arent far out of the money at this rate anyway.

Just my thoughts!:eek:
 
Re: USA - UraniumSA

Good Media reports from News Limited on Uraniumsa which shows the confidence of the director in getting mining operations underway within two years.

SARAH MARTIN
September 08, 2009

URANIUMSA says an in-situ leach mine will be operational at its Mullaquana project near Whyalla within two years.

The Adelaide-based uranium explorer said recent upgrades to uranium estimates at the site augured well for an eventual commercial operation in the area.

Managing director Russel Bluck said results at various sites across the project confirmed the drilled areas were part of a uranium district comparable to the Curnamona province that hosts the Beverley and 4 Mile uranium mines.
In May, the company announced an inferred resource at its Blackbush site of an estimated 2700 tonnes of uranium oxide.

Mr Bluck said the company was optimistic about discovering a comparable, if not better, inferred resource at other drill sites.

He said these sites, to the north and south of Blackbush, needed to be drilled before determining the best site for the proof-of-concept site.

``We have been trying to push ourselves down the road towards the proof of concept, but as part of doing that planning we have to make sure we are doing the trials on the best part of the project,'' he said.

``Our first holes into both Emubush and Bluebush are much better than the first holes we drilled at Blackbush, so we are very optimistic about what we will find.''

Mr Bluck said drilling at Bluebush and Emubush would take another four to six months and he was hopeful of reporting further upgrades.

``Our objective is to have the proof of concept up within 18 to 24 months but that is subject to results. The bigger they (deposits) are the longer they will take to prove up.''

He said the proof-of-concept mine would likely be a 50 tonne-per-annum model.
The company said it would soon begin a community engagement process.
 
Re: USA - UraniumSA

I might be talking to myself here....but USA in a trading halt pending the announcement of a share placement. Im curious if this is of serious significance given they needed to halt trade.

Interesting times.;)
 
Re: USA - UraniumSA

Ruprect said:
I might be talking to myself here
Click to expand...

Now we can't have that, can we! Where's the dialogue?

Yes, certainly interesting times indeed. It's been a long hard wait - I bought in at the start - so will this be a closed or open placement? Have they really got something worthy of comparison with existing ops or this just management talking things up?

If the former, then a little dilution may be positive in the long run.
 

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Re: USA - UraniumSA

Thanks Gurgler.

Its hard to work out why the share placement is so market sensitive that it requires a trading halt. But anyway. Id tip that its a private placement given that they already did a 1 for 3 in July i think. That left USA with over $2 million in the bank.

Im of the opinion that they have a very decent resource and not at those crappy low grade "we've discovered traces of uranium" types. Its at low depth and while the grades were initially not fantastic, their last resource showed a serious improvement which puts them into the game. And they are looking at starting trial mining late next year, which means they are well ahead of most of the other explorers.

What is so pressing now that they need to go back to the market yet again? Of course i would be hoping for a buy in by one of the majors. There are some big uranium players out there with money to burn and already announced that they are looking for investments. But that may just be wishful thinking on my part.
 
Re: USA - UraniumSA

Annnouncement of a $4 Million placement of 20 million shares at 20c to institutional and sophisticated investors.

This should give USA a cash balance of over $6 million and just over 100 million shares on offer.

Nice to see some real support out there. :)
 
Re: USA - UraniumSA

So prior to this placement there were 87,888,193 shares. This placement represents an almost 25% increase.

In the first 20 mins this is appearing to be well received - sp up 17%. We'll have to wait and see what it ends up at after the daytraders have had their way with it!

(Disclosure: an unsophisticated investor!)
 
Re: USA - UraniumSA

Wow did you see over 10 million shares go through just after open?

on an XTOS which i assume is a cross trade overseas? Thats a big trade. Somebody is interested here. Wait for a change in substantial holding, on and off.
 
Re: USA - UraniumSA

So we have had two substantial holder off announcements, Marathon and Hitalba Gold (SRZ owned). Im kind of curious on these two selling.

But what is interesting is that they were both on the same day at the exact same time, off market transfers, likely to the same person or group. All up over 10 million shares, or as it stands, over 12.5% of the company.

Stay tuned for a new substantial holder. Could that be something very interesting?

Update: SRZ has announced that they sold 4.8 million shares in USA for cash to pursue aggressive uranium strategy. They did this after the approach of a "broker". No doubt the same broker who approached Marathon.
 
Re: USA - UraniumSA

Nice to see some more good news from USA. Still on track to be commencing trial mining of Uranium in 18 months, and full on production within 2 years. By which stage of course they should have sured up some more good resources. Im still going long on this one.

As we all know, real Uranium mines are in short supply in Australia. As compared to those dozens still just looking for the stuff. I cant think of too many who will be producing anything within the next 18 months to 2 years. So USA is almost unique on the small cap explorer front.

I like the fact that these guys are serious. Have plenty of cash after placement, and still only around 100 million shares on offer. Just waiting for the market to take serious notice of these guys...

Adelaide-based UraniumSA Limited announced it anticipated commencing by mid next year the expected 12-month regulatory process to approve a Field Leach Trial at the Company’s Blackbush Prospect at the wholly owned Mullaquana project, 20-kilometres southwest of Whyalla on Eyre Peninsula.
Subject to normal progression through the regulatory process, that would allow the trial to commence by mid-2011 and if successful, transition towards the end of 2011 into early 2012 into maiden commercial production from Blackbush.

Detailing the schedule at the company’s annual general meeting in Adelaide, UraniumSA’s managing director, Russel Bluck, said a scoping study on Blackbush’s development had commenced in recent days to lead into the field trial regulatory process schedule by mid next year.

“We have effectively commenced the transition from pure exploration to exploration and development, one of the few of the crop of uranium IPOs to achieve this benchmark,” Bluck said.

“Blackbush, since its discovery by UraniumSA in December 2007, has evolved as a real project, and we have commenced a scoping study with real contracts and real objectives and real timelines to deliver South Australia a viable new uranium mine.

“Given that South Australia has the best track record of any uranium jurisdiction in Australia, we expect to be able to stay close to our development and maiden production timelines.”
 
Re: USA - UraniumSA

Nice jump yesterday on good volume, and now i see why. Got a buy recomendation by BGF Equities who have a price target of 50cents and consider it "way too cheap". Good to see some recognition!

A side thought is that those options may just come into play again (USAO 24.5 cents ex) - only 2.5 cents out of the money. Be good to see another 7 odd million dollars coming USA's way if they are exercised.

Drilling ongoing, so should expect some prelim results soonish, followed by an upgrade to size of JORC resource in the first part of the new year.

Ran yesterday in The Australian too:

You may be wondering why UraniumSA shares put on 20 per cent this morning. No, it wasn't the Abbott/Bishop remarks, but we can tell you that BGF Equities sent out a “buy” note on this stock this morning to its clients. There will be good profits for anyone who can buy under 21c, the note said. The stock was at 21.5c when we last looked, so 0.05c is probably neither here nor there.

BGF has put a 2010 target of 50c on the stock. It urges investors not to be misled by the low grades at USA’s Eyre Peninsula deposit. This is offset by the low capital costs - the location is just 20km from Whyalla - and the ore body is just 50m below surface. This makes it amenable to (cheap because of its proximity to surface) in-situ leaching. It’s in South Australia, so political risk is low (we would say zero) and there are no Native Title issues.

BGF’s conclusion: “There is a clear disconnect between the current share price and market capitalisation of $19 million … It is way too cheap at current levels.”
 
Re: USA - UraniumSA

Interesting announcement out regarding options - USAO. If my reading is correct they consider that the new drilling update will be positive and therefore may have a significant effect on the share price putting the options in the money.

You may:
 either, pay 24.55 cents per Option and be issued one fully paid ordinary Share in the Company.
 or you may elect to take no action and the Option will lapse with no further value.
If you are considering exercising your options, we advise you to check the Company website,www.uraniumsa.com.au for the latest ASX release. We anticipate having at least one drilling update prior to the option expiry. As previously announced, there is one contracted drill rig operating at Black Bush and the Company drill rig is drilling exploration holes to the South at the Plum Bush prospect.
 
Re: USA - UraniumSA

As someone fairly new in looking at this company (and uranium as a sector), I'm keen to know who their clients are - are they only supplying the energy industry? is there any way of knowing if the uranium they're pulling out of the ground could be used in weapons manufacture?
 
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