ERN - Erongo Energy
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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 communiqué, 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."
"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 communiqué, 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."
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Appendix 3B ,Is that mean anything ???? 
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
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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.
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.
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
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
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RIC said:
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.
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!
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!
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.
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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
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Chris,
ERN Company Trading Status: Pre-Open after open this morning
There is no ASX ann yet!!
What is happening?
ERN Company Trading Status: Pre-Open after open this morning
There is no ASX ann yet!!
What is happening?
