ERN - Erongo Energy

[chris1983]

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

 

[bigt]

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.

 

[chris1983]

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.

 

[Halba]

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

 

[chris1983]

Sell bids are being pulled?

 

[emily]

up 5 cents !!

 

[bigt]

dont you mean DOWN 5 cents?

 

[chris1983]

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.

 

[bigt]

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!

 

[chris1983]

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.

 

[Darryn]

Up today, lets hope this continues!

 

[chris1983]

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]

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]

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]

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]

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]

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.

 

[chris1983]

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]

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.

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

 

[Halba]

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