ERN - Erongo Energy

[SGB]

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.

Hey Kennas,
Agree with ya, the guys get pretty reved up ubout this one but IMO there seems to be pretty good support @ .80ish
Personally don't own stock but Chris got me excited to research(LOL Chris). Might have a dabble once MACD crosses back over.
Cheers
SGB

 

[SGB]

This is another look at the .80ish support.
Seems to be quite solid although time will tell.



SGB

 

[svensk]

When charting, I often use a 60 day ema to gauge med/long term support and resistance levels. I noted in particular for ERN, this ma poses quite a nice (perhaps rough) support level. You'll note it has bounced off it several times since the initial surge in late '06, and seems to have done so again just recently. If this long term supposed support level holds, the sp shouldn't falter too much more.

Anyway, that's just my musings on the topic.

 

[sydneysider]

Drill results were disappointing with lower than expected widths and grades(some 100ppms). don't expect another set to analyse till mid july, according to company management. Until then, am on sidelines.

Sorry to follow u around Daredevil. IMHO ERN may be onto something very major. They have said that they are looking for a very large bulk tonnage low grade U deposit. There are a collection of these deposits in Nambia and they run at grades 130-140 ppm or 4.5 oz per tonne. Forsys was like ERN about 12 months ago with a very similar share capital and aspirations and ran from 50 cents to $10.00, that is a certified 20 bagger. They have about 30 million pounds /14,000 tonnes of u and are worth + half a billion dollars now.

ERN is worth US $31 million has at least 3 BILLION TONNES of "target rocks" down to 75 meters on its Erongo Granites project at Areas 1-4. They have historical drilling and the five new holes that identify about 3.5% of the target rocks as containing u AND they also point out that grades may be open at depth (maybe several billion tonnes more of potential target rocks). All of these target areas are covered with u "signatures" from various surface tests.

The fact is (1) Nambia hosts a number of very large bulk tonnage u deposits (2) ERN is sitting on on a number of very massive anomolous u areas that have many surface signatures and a very small area that has been drilled out and contains grades that are typical of economic deposits in the area (3) Mineable grades are as low as 130 to 140 ppm (Forsys at Valencia and Treppokje) and ERN's grades are very shallow so far (4) Costs (verified by a number of studies by independent groups) on these low grades are very low at US$22 per pond of u so the operation becomes very profitable on large tonnages (5) U can fast track these deposits from drilling to mine development very quickly.

IMHO with the tremendous shortage of u around the world ERN will attract a LOT OF attention based merely on the size of the targets, the similar geology of nearby massive u mines and the fact that Nambia is a very good place to develop a U mine AND that ERN is in the very early stages of exploration that is generating very positive data.

On a day when the Dow Jones dropped 125 points little ERN powered up 13% in Frankfurt to hit 94 cents on turn over of 593,000 shares.

 

[sydneysider]

The problem is, the average investor does not find the 100ppm grade exciting. not only that, they only got 1 rig.

Don't know about your open at depth comment. they never said that.

Re: mined deposits rossing and langer heinrich - have grades of 300ppm+

Re: price action- some newsletter is pushing it desperate in germany. But i'll wait till results provide a clearer picture.

Re: costs, Forsys BFS $40/lb costs+, updated from $20/lb.

Next results mid July. So no results this month.

Please don't flaunt 20 baggers in these forums, I think the price target is too extreme.

Poor Daredevil, it was Forsys that ran to be a 20 bagger, from 50 cents to $10.00. Do you dispute this fact?

IMHO ERN is very undervalued...

 

[chris1983]

lol you guys could argue forever. One thing your forgetting is erongo got uranium hits on every hole that they drilled. Six holes. A lot of companies don't hit uranium on every hole they drill. Anyway overnight Erongo finished at .59 euro on almost 3.5 million volume.

0.59 EUR = 0.940451 AUD

Doesnt look good with the DOW getting hammered though. A lot of people will be bailing out of the market yet again.

 

[chris1983]

Some good depth from 80 onwards. Just what I like to see.

There has recently been a price recommendation made by a German magazine. I have had a number of German holders advise me of this and if you search google and go to the forum boards it has been spoken about. I have quoted a post from hot copper. Maybe this is why we have seen such high volumes and strength over in Germany? Sure does make sense.

"Hello from germany and sorry for my bad english! The german magazine "Der Aktionär" recommended Erongo Energy. They gave ERN a target of 1,2 € ! "

1.20 EUR = 1.91003 AUD

I really dont know where they pulled this valuation from but its a blue sky valuation. I personally wouldnt follow it atm as we have no hard evidence of what Erongo actually have but they are basing their valuation purely off potential and speculation. Good to see some strong support and I am definately looking for further SP gains as drilling continues and they begin further work on other anomolies within the licenses. Good luck to the longs.

 

[chris1983]

Support is moving up higher and higher for Erongo. Another great finish in a down market. Ended up in the green so very happy with the trading in Erongo today.

 

[sydneysider]

Hey Kennas,
Agree with ya, the guys get pretty reved up ubout this one but IMO there seems to be pretty good support @ .80ish
Personally don't own stock but Chris got me excited to research(LOL Chris). Might have a dabble once MACD crosses back over.
Cheers
SGB

Stochastics which were very oversold have crossed up (first tentative buy signal), MACD has flattened but not crossed up yet. Notice that the last ten days of trading have seen very aggressive "wide" moves both up and down. We seem to have broken out of small daily moves that were typically the norm. IMHO this is being caused by a lot of new buyers into the stock (1) Lehmans has 8% (2) Germans are buying and trading this stock in decent chunks every day. Frankfurt trades from 500,000 to 1,000,000 a day.

Seems to be indicating higher prices ahead.

 

[Go Nuke]

Has anyone got any insight into the direction ERN will take from here?

I see it has fallen into the mid 80c range again.
I realise they have huge amounts of prospective areas, with no new ELP's being issued.

Still looks good as an explorer in my eyes.

 

[Sean K]

Has anyone got any insight into the direction ERN will take from here?

I see it has fallen into the mid 80c range again.
I realise they have huge amounts of prospective areas, with no new ELP's being issued.

Still looks good as an explorer in my eyes.

Of course it's an explorer , but it's still generally going up on the chart. 93 cents is firming as a bit of resistance now. I'm still impressed with the intraday support this normally gets. Notice the long tails on the candles. MACD and Stoch look ugly short term. Market is still probably assessing those ordinary grades for 3 of the holes, which were practically dirt. Still can't imagine what they were thinking not drilling initially at the points where they knew there were historically good grades. Odd.

I do note Chris has sold out of this now, which is odd considering this statement made just last week. Fundies change their mind pretty quickly around here.

Support is moving up higher and higher for Erongo. Another great finish in a down market. Ended up in the green so very happy with the trading in Erongo today.

 

[SGB]

Has anyone got any insight into the direction ERN will take from here?

I see it has fallen into the mid 80c range again.
I realise they have huge amounts of prospective areas, with no new ELP's being issued.

Still looks good as an explorer in my eyes.

G N
The volumes aren't that high to be overly concerned about, when theres an influx of volume while declining its generally the trigger of a reversal.
SGB

 

[chris1983]

Kennas. I gave due reason to why I took profits. I feel BMN fundamentals are stronger so I pushed the profits back into them. I have a trading plan where I usually sell half and the rest is free carried. I decided to stick to the plan.

 

[chris1983]

Kennas will jump on any opportunity to say something negative towards me as I know he doesn't like me. "Fundies change their minds quickly around here"..being a little smart.

 

[SGB]

Kennas will jump on any opportunity to say something negative towards me as I know he doesn't like me. "Fundies change their minds quickly around here"..being a little smart.

You aren't sulkin are you chris!
I would think kennas would like everyone and all.
There is a wisper that you crunched out of ERN.
I'm supprised that you should do this after all of the attention you have put into ERN of late.
SGB

 

[chris1983]

You aren't sulkin are you chris!
I would think kennas would like everyone and all.
There is a wisper that you crunched out of ERN.
I'm supprised that you should do this after all of the attention you have put into ERN of late.
SGB

I dont sulk mate. I just find it funny. You should concentrate on making money. Maybe put some time into doing research. My parcel in ERN is still quite large. I sold some BMN to free carry..I sold 1/4 of My arrow to free carry. Its how I work. I stick to my trading plan. I sold 1/3 of my ECH to free carry. I can go on if you want. Wow I think Im doing quite okay on the stock market As if you or anyone could make me sulk..give it your best shot.

 

[SGB]

In a day where there was plenty of red sea around, ERN managed to bounce of .80 to end the day in the green(+.05)

Open 0.845
High 0.86
Low 0.79
Close 0.85

SGB

 

[Sean K]

Still going sideways since early April really. Won't be looking really vulnerable until it breaks those support lines. That's not comforting if you bought at $1.10 of course, but a bit easier for punters who entered a bit earlier. Maybe trending back up when it breaks 92 ish. Looks short term bearish on those indicators so I'd be expecting further sideways movement.

 

[SGB]

By looking at the channel it does really need to hold on to .80ish support.
Over the next couple of days will tell.
Agree Kennas, Tech indicators don't look flash.

 

[tanga40]

whats going on today? lost 16% already but no news.... this seems a bit scary, ill probably sell soon