Nice information kevro the boss man in namibia i guess an ann soon =)))) something would have happened whilst in namibia =))
Hi Chris, I spoke to the company secretary yesterday about this same issue about having options and the possible spin off of a new mineral sands company. He was'nt a 100% sure but he believed the company would give the opportunity for the holders of oppies to convert over before final day is set. As I said he was not a 100% so he took my number and is going to get back to me when he speaks to the boss man who gets back from Namibia today.
Kevro
First time poster. Hugely appreciate the work by Chris, Halba, the Captain and others on the ERN and BMN threads.
I hold or have held all of PDN, SMM and MTN, but lately have become a bit nervous of all the takeover hype, and whether there was better value elsewhere in the sector. Paladin wanted to diversify into some Australian resource, so the SMM takeover was logical. But Paladin's immediate commercial future is based on the African tenements.
You've got to get your uranium to market before you can start making money. I've read the ASF threads, and lots of company announcements and presentations. Particularly impressed by the radiometric survey of Erongo's Namibian tenements.
I reckon ERN and BMN are both more likely to get to market before the Aussie companies, who have to wade through a domestic political and environmental regulatory morass. And their share price gives the investor greater leverage. Have retained residual holdings in the Aussie based co's (learning the lesson of diversified sources), but have moved mostly over to ERN and BMN, which in my view only - will reward patience.
Thanks again guys.
I too have been gradually rolling everything into ERN and BMN (coutesy of Chris & Halba) and an oiler COE. Those three make up probably 80% of portfolio. Might divest the other 20% and jump into CFE based on Chris's research. Got to keep the brotherhood strong!!
Glad to hear reefer..I like hearing everyones making money..plus its great when we all get to ride up the SP increases together
But yeah..just would hate to pick a stock and see everyone lose their cash..even when I first bought BMN it was extremely speculative at that stage.
Back onto ERN..they are holding well above 80. They are still extremely undervalued as an explorer in Namibia. If RM Research release another research report they should highlight the historical drilling and do an estimate to the depth it has been drilled too.
That looks right to me Halba.
length by width by thickness(depth) is easier for me to understand.
800 x 250 x 35
= 7,000,000 Cubic Meters
2.4 tonnes per cubic meter.
= 16,800,000 tonnes
Say we use an average grade of 250 ppm.
This will give us
4,200 tonnes of uranium which is just over 9 million pounds. Pretty close to your estimates Halba. This is a great start for an explorer. Exactly the news they were looking for to get them kick started. SP held up very well today and based off the calculations there is no way I'm selling these any time soon. They have too many prospects on their licenses. I think once the granting of EPLs kick off again in Namibia they will also get the fifth license which also has a historic resource. Erongo are looking good.
Uranium spot is $90 and this will continue to increase. Uranium is the new energy. Companies like erongo will still have the opportunities to take advantage of uranium prices. Its only the beginning IMO.
Chris, how do you work out the resource estimate? Or more particularly where does the calculation allow for say a 300 metre deep hole which has say intervals totalling only 50 metres of the 300 which the drilling core show as uranium hits. Just curious.
Chris, sorry for my ignorance, but how do you work out the depth of 35m, need to take an average of 25m and 35m ?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?