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ERN - Erongo Energy

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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.
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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...
 
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.
 
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.
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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.
 
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**
 
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.
 
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 said:
Trading halt.
Received historial exploration data, is supposed to be good news?
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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.
 
Yep i guess mark wasn't lying when he told me report was imminent.

Hope its solid.
 
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.
 
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.
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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
 
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
Click to expand...

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.
 
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.
Click to expand...

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.
 
mmmining you have mentioned it has run up a lot but what is the mkt cap at the respective prices>> answer : it is low
 
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.
 
What does everone think of the announcement re the historical drilling???
Company seems pretty pumped!!
 
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.
 
excellent news all. How good is this. $50m mkt cap for a uranium mega mega deposit?
 
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