ERN - Erongo Energy
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Sean K
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Beatrice, I'm not sure what you are talking about. The depth looks pretty tame to me. Can you be more specific or paste in a screen shot of what you are talking about. Thanks.
Sean K
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Personally I would compare the number of buyers to sellers to get a snapshot of support and there looks to be more sellers lined up at this moment. VWAP is another indication of the days trading and it's currently at 83.62, about the same as the current sp, so nothing really there. Another indication would be how it bounces off support lines, or finishes the day. Volume is important too. If it goes down on increased volume that shows a lack of support. Have to wait till EOD for a better picture I think.
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The market has hysterically overeacted to the ERN report. Two nearby deposits are Valencia with a head grade of 140 ppm/.14kg/t owned by Forsys is valued at C$650 million and has operating costs of US$22 pound. Also Trekkopje at 140 ppm with other credits and operating costs of US$19 pound. Both deposits are similar to Eronogo's geology except that Eronogo's multiple u targets are much larger than Valencia which has a JORC resource of 12,750 tonnes of u. Trekkopje has 39,500 tonnes of u and is worth around US$2 billion (need verification).
Erongo may end up with similar numbers to Valencia but IMHO have resource size closer to Trekkopje if continuity holds up during drilling at low grades over their very large anomolous areas.
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Thanks for the post on what the German action is Chris!
Good to see that not everyone has lost faith in ERN.
I think people were perhaps just wanting to get in just incase of some incredible depth or quality Uranium.
Still looks to be alot of interest around the 80c-82.5c mark.
I think ERN got dumped a bit harshly, especially based off the info from 6 holes or however many it was
Good to see that not everyone has lost faith in ERN.
I think people were perhaps just wanting to get in just incase of some incredible depth or quality Uranium.
Still looks to be alot of interest around the 80c-82.5c mark.
I think ERN got dumped a bit harshly, especially based off the info from 6 holes or however many it was
Thanks for the post on what the German action is Chris!
Good to see that not everyone has lost faith in ERN.
I think people were perhaps just wanting to get in just incase of some incredible depth or quality Uranium.
Still looks to be alot of interest around the 80c-82.5c mark.
I think ERN got dumped a bit harshly, especially based off the info from 6 holes or however many it was
Im still holding strong. Im a longterm investor. I like to atleast hold on for a year to limit my tax. Been holding since 47 so I'm still very happy with the performance thus far over a 6 month period. Lots of support from 82 onwards. 600,000 shares to be bought from 82-83 cents. Erongo have huge land coverage in Namibia..a lot of anomolies untested..mineral sands epls that could be given as an in-sepcie distribution to current share holders. Still plenty of upside left IMO. I also dont believe the uranium price will falter for atleast another 2 years. I cant see where all the extra supply is going to appear from? So I'm holding long on my uranium investments. Good luck to the longs.
Also a long term holder, been holding since 52c so I guess I cant really complain about the performance thus far... Everywhere in the world is building neuclear reactors for power supply, was it something like 50 worldwide by 2020, (don't quote me on that, I gotta dig up the articles to confirms). So where are they going to get all the fuel from??? Seeing how the supply:demand atm is already not enough.
I might even top up but we'll see how this goes in the next week or so
peace out
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I bought a parcel at 60 cents and sold yesterday at 90 cents on the announcement. The usage of words "potential" didn't quite strike for me. However, upon reading these last few forums a takeover potential erongo may well be. Maybe you can't go Erongo with Erongo after all.
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Sorry but im still a beginner at trading. I understand that the majority of people believe that the market over reacted to the announcement and the share price will eventually go up. However in the frankfurt market, it seems to continously go down. How long do u think it will be until the share price will go back up?
There is strong support in the low 80's. Not sure when results will come. Erongo are a uranium play in Namibia with huge land coverage. There are a number to choose from but I'm pretty sure erongo comes close to the cheapest or it could be WME. This is a quick write up so I cant check. Erongos land coverage is quite large compared to the other explorers. Erongo wont have the same problems of share dilution as WME will have when they need to raise money and also DYL. If you want a uranium play in Namibia it still looks very attractive which is why investors are jumping in at these levels. If you think the uranium boom will continue which I do.. just hold long. I cant see the uranium price coming down in the next couple of years so these types of explorers still have plenty of opportunity to show SP gains. Good luck to holders.
Drilling is on going, so I would think we may get constant updates. The initial results (the 6 holes) were only ever meant to verify historical figures.
There is approx 5000m of drilling in Area 1 (at 73m, thats 60/70 holes) same again with Area 3.
Initial drilling commenced 8th May. Initial 6 holes announced 5th June. Bear in mind the initial holes were assayed in that period as well. I would imagine that there are a lot more than 6 holes that have now been drilled (one would think that the lab would have taken a few weeks, at least, to get some assay results) I would guesstimate that those initial 6 holes were probably drilled in no more than 1 to 1.5 weeks so there are very likely about quarter/half of Area 1 awaiting assay results.
jmho
There is approx 5000m of drilling in Area 1 (at 73m, thats 60/70 holes) same again with Area 3.
Initial drilling commenced 8th May. Initial 6 holes announced 5th June. Bear in mind the initial holes were assayed in that period as well. I would imagine that there are a lot more than 6 holes that have now been drilled (one would think that the lab would have taken a few weeks, at least, to get some assay results) I would guesstimate that those initial 6 holes were probably drilled in no more than 1 to 1.5 weeks so there are very likely about quarter/half of Area 1 awaiting assay results.
jmho
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ERN is drilling RC holes for 10,000 meters to cover an area of 1,800 x 1000m known as Area 1 which contains the historical u find contained within an area of 500 x 800 m (from memory) and aboout 35-35 meters thick u zone. RC drilling is probably to 75m per hole (may be some deeper or angled). They are drilling at this rate of 100 -120 meters per day, so they would be about 4,000m into the first stage of the program. They continue drilling on other areas so there should be many months of drilling data coming to the market.
My understanding is that they are putting at least twenty holes into the "core" of the historical resource to allow assaying and release to the market in about mid July. They will continue drilling around the core and its extensions to come up with a resource estimate.
Sean K
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Which big buyer was that Chris? The 4000 ish shares @ 83.5, or the 10,000 shares @ 88. Or are you saying the individual 29K and 25K buys at 84 and 85 were the big buys? Wonder who these 'big fish' are?
Perhaps you could explain what you really meant there? cheers.Attachments
Maybe it is a big fish. it also could be temporary short of seller because of two days' big selling.I hate the gap so much which prevent me from entering again.
Which big buyer was that Chris? The 4000 ish shares @ 83.5, or the 10,000 shares @ 88. Or are you saying the individual 29K and 25K buys at 84 and 85 were the big buys? Wonder who these 'big fish' are?
Ready to pounce hey Kennas. I use stockness monster and its delayed. I thought it was one buyer but the trades all went through 1 minute apart. You never posted what you were going to on the BMN thread? Want me to do it for you?
