ERN - Erongo Energy

[mildew79]

While I think it may have run ahead of it's self the past week or so as indicated in last chart, I've been considering that it may be just starting a new, more bullish trend. The past week which has seen it jump out of long term trend, could be the start of a new trend? Maybe.

On this 3 month chart you can clearly see the latest bullish move out of the long term trend. Also, note all the candles with long tails on them (green mark underneath each) indicating that buyers came in every time the stock came off a little. 2 of the candles without tails were actually positive days, so there is only one day since 30 Mar, and the breakout, that has not been bullish.

Maybe I've taken profits too early? Maybe I'm too concerned about the XAO? I guess we'll find out in the coming weeks.

im also concerned about xao a little. risk management may mean we miss out on some profits, but keeps us around making money in all market conditions. hindsight is useless in share trading. love your chart posts kennas, you read charts very similar to myself so great reinforcement to my decisions

 

[nizar]

At .875 theres 6 bids each for odd amounts under 2000 shares.
Isnt that weird?

 

[captjohn]

Arghhh......sp just touched 90 .
Busy now spooly I'll respond later.
cheers.
captjohn

 

[kevro]

Into the .90's now and not much left on the sell side.

 

[captjohn]

Into the .90's now and not much left on the sell side.

I've posted a few for sale over the dollar mark to be there in readiness for trading halt! on announcement

 

[Logique]

Impressive charting, thanks everyone.

I have my fingers crossed that this is a bullish breakaway. That's based on my interpretation over a longer time frame, and a range of technical indicators. But also it's about the nature of the industry, and my own faith in ERN.

Smaller growth stocks don't always comply with near term technical orthodoxy. Not even considering selling.

 

[Halba]

Hmm sellers being pulled. Uranium stocks surprisingly slow today yet ERN is doing better than most. It has been stable in correction last week. Well done ERN.

 

[captjohn]

Hi CaptJohn,

I have seen this mentioned before and am wondering how exactly it`s quicker to get a uranium mine up and running quicker over there.

Is it because the Gov are simply pro U mining, and that labour costs are cheaper?

The only comparison is PDN`s Langer Heinrich which went from completing pre feasibility study in Feb 2003 to production about 4 years later.

Namibian government will be quicker than this now & are very pro mining as need royalty $$ to run low GDP country.
No native title claims there....in Oz this can hold mines up for years.
Also our greenies are a big delay for mines..
Chris has mentioned article in 'paydirt magazine about this subject......I'm going out now to buy it....you should to & write us an article on it ASAP.
good trading..captjohn.....

 

[spooly74]

Namibian government will be quicker than this now & are very pro mining as need royalty $$ to run low GDP country.
No native title claims there....in Oz this can hold mines up for years.
Also our greenies are a big delay for mines..
Chris has mentioned article in 'paydirt magazine about this subject......I'm going out now to buy it....you should to & write us an article on it ASAP.
good trading..captjohn.....

Yeah the royalties issue is certainly a bonus.
From memory I think it`s 2% for the Namibian Gov, Paladin had allowed for 5% for LH.
With the rising U price I`d imagine they might review the royalties but I don`t think it will impact much on miners ...just a small increase perhaps.

Re. the native claims in Australia.
Once a company applies for a mining permit, the proposal would be assessed via the standard regulatory assessment process (PIRSA in South Australia for example). This requires consultation with relevant state government agencies, community groups and individuals.
I would assume that if a company then proceeds with a Pre Feasibility study that the native claims issue would have been taken care of.

As for the Greenies, well they`re easy to take care of these days, and only become a problem when they can climb up and chain themselves to trees

I`ll definitely check out the Paydirt Mag...sounds good
cheers

 

[nizar]

Hmm sellers being pulled. Uranium stocks surprisingly slow today yet ERN is doing better than most. It has been stable in correction last week. Well done ERN.

LOL we had a correction last week ?

 

[Brujo]

Interesting sell/buy chart for the options. One solitary seller in the market at $1.00 !!!

 

[JWBH01]

Interesting sell/buy chart for the options. One solitary seller in the market at $1.00 !!!

How can the option be asking more than the FPO? I guess it is only the asking price. It will probably get pulled tomorrow.

 

[chris1983]

How can the option be asking more than the FPO? I guess it is only the asking price. It will probably get pulled tomorrow.

Theres just no more options left for sale JWBH01. So the guy who wants $1 is the only seller left. Doesnt mean it will get filled though

 

[Halba]

Hammered last night in Germany to 53 euros or 86 cents AUD. Was due for profit taking as no news. This is healthy imho. May retrace to 72-73 in a worst case but if good news it won't.

 

[chris1983]

Currently in Germany they are .53 Euro. Where do you convert your currencies Halba? I use

http://www.xe.com/ucc/

0.53 EUR = 0.870957 AUD

Traded at decent volume of 854,972 shares

The ask is

0.549 EUR = 0.902265 AUD

Holding pretty well. If they could consolidate in the low to mid 80's I'll be happy. I still think there will be an update soon so this whole consolidation period could get thrown out the window and we will see them push higher.

 

[nizar]

Hammered last night in Germany to 53 euros or 86 cents AUD. Was due for profit taking as no news. This is healthy imho. May retrace to 72-73 in a worst case but if good news it won't.

So consolidation is okay, as long as its above your purchase price?

 

[chris1983]

So consolidation is okay, as long as its above your purchase price?

I think a bit of consolidation doesn't hurt because its holding the longterm trend. Fundamental analysis also shows its still undervalued to its fellow Namibian uranium explorers..which is of course my own opinion. I think its way undervalued and has lots of room to move..but hey I could be wrong.

 

[Go Nuke]

I love the shape of this new chart.

I think the MACD is getting quite high, combined with that whole "May" thing were it turns to a sea of red theory, so will settle down soon..though Its good to see that its going to set a new base of resistance.

This is to try out my upload of the chart..hope it works
Thx Kennas.

Sorry if it doesn't work..first try..lol.

 

[svensk]

What are peoples thoughts on the just released report?

The recent lowering of the sp has been scaring me, hopefully this brings her back up.

 

[chris1983]

Its good. Patience will bring further rewards. They are progressing everything as planned. The recent drop in SP is normal. It was time for some consolidation.