ERN - Erongo Energy

[chris1983]

Chris what can you tell me if anything about the 5th tenament they are waiting on?

I hold both heads and opps

Towie if they get the fifth tenement I will be extremely happy. This tenement has a historic resource on it.

http://www.mme.gov.na/gsn/uranium.htm

Ill quote the area that shows the values.

"Klein Spitzkoppe uranium (5 Mt ore grading 287 ppm U3O8)"

Now it hasn't been completely drilled because I'm pretty sure the project was abandoned. The grades are good enough to be economic and begin a mine. Its just an additional boost to Erongo if they get this tenemant because they will then have a proven resource and can continue to map out the extent of the resource.

The erongo granites project is the one I think with excellent potential. Below is quoted from the quarterly report

"Historic work on EPL 3453:
- 63 percussion holes drilled in Area 1 identified a flat undulating zone of mineralization 25- 35m thick over an area of 1,000 x 800m. Actual uranium values are not yet available.

- The first of two diamond holes in Area 1 identified yellow-green secondary uranium mineralisation from near surface in the weathered zone which ranged in value from 134 to 982g/t U3O8.

- Two additional drilled areas reported flat lying uranium mineralization roughly 6m thick. Actual uranium values are not yet available.

- A mineralogical investigation positively identified uraninite as the major primary uranium mineral and a metallurgical study concluded that no metallurgical problems existed.

- Identification of a previously untested 3,000m by 1,000m uranium anomaly.
At EPL 3523 historic mapping confirmed the area is underlain by valley-fill calcrete. A total of 30 percussion holes were drilled on a 1km x 1km grid. Three holes reportedly intersected anomalous uranium. Actual uranium values are not yet available.

• Interpretation of reprocessed regional aeromagnetic and radiometric data has identified twentyone significant uranium radiometric anomalies within the Erongo Complex and adjacentSpitskoppe project areas within both felsic intrusive and palaeo-drainage settings for follow up field investigation."

Its looking better every day for me.

 

[sydneysider]

quarterly is out and is extremely promising. I think this is a great uranium spec to have in the portfolio..I would advise investors who are investing in the uranium sector to read the report.

One target on the ERN leases was extensively drilled over a 1000m x 800m x 25-35m thickness. That translates to 60,000,000 tonnes of target. Over 21 anomalies already identified for calcrete style u along with commentary about granite on their properties which is the source rock. This was a very promising report and IMHO ERN will run a lot higher.

 

[towie]

Thanks mate,

I initially took a look at this because of Leon Pretorius taking an interest,

After reading today the actual size of the mineralization in EPL3453 I am more confident than ever.
With the added cash from the issue this week things should move along quickly we should get news regularly over the course of this year, i look forward to the trenching to start.
The market cap is tiny as it stands.
A great spec play in my opinion.

 

[mmmmining]

We can believe anything as long as we know it is speculative stock at this stage. But we have to keep an eye on the drilling results in the future. Otherwise, I will make the some mistake as ACB.

The reality may be very different from historic data hand picked by management, particularly the roughly 60Mt minerals without any grade figure.

 

[sydneysider]

We can believe anything as long as we know it is speculative stock at this stage. But we have to keep an eye on the drilling results in the future. Otherwise, I will make the some mistake as ACB.

The reality may be very different from historic data hand picked by management, particularly the roughly 60Mt minerals without any grade figure.

the 60mt i refered to is a quantified drilled out "target" zone that will be re-drilled. The point here is that it is an extremely large target of unknown grade BUT it is uranimiferous. The radiometrics have also identified extremely large targets on ERN ground. Watch ERN trade overnite in Germany, should be very interesting.

 

[chris1983]

We can believe anything as long as we know it is speculative stock at this stage. But we have to keep an eye on the drilling results in the future. Otherwise, I will make the some mistake as ACB.

The reality may be very different from historic data hand picked by management, particularly the roughly 60Mt minerals without any grade figure.

With no risk at all come no huge gains. Dont be too careful. You are underestimating the potential of ACB imo. I dont hold them but I have always liked them. It was either ACB or ERN for me..I picked ERN because I believed they were in an earlier phase and could give me a larger return. When I bought ERN their market cap was practically nothing...it still is practically nothing compared to other explorers..I have ranted on about their market cap time and time again.

 

[mmmmining]

With no risk at all come no huge gains. Dont be too careful. You are underestimating the potential of ACB imo. I dont hold them but I have always liked them. It was either ACB or ERN for me..I picked ERN because I believed they were in an earlier phase and could give me a larger return. When I bought ERN their market cap was practically nothing...it still is practically nothing compared to other explorers..I have ranted on about their market cap time and time again.

I like ACB just before today. After I spoke with MD, I fell not comfortable with the management team. Anyway, the cool fact for ACB is the historic 75Mt minerals within 1.2x1km area is impossible to achieve because they need 30m width. But currently the average is only about 4m. Surely they can throw in a few other anomalies to justify the lofty share price. Even they get the Serule's assayed data wrong. But it is another story.

My point is very simple, keep speculating before and during drilling. And be vigilant when the results are published.

The story for ERN may be different. I guess you can share with us about how competent the management team is from your experience.

 

[Sanhedrin]

Just pierced through the 60 cent level buyers have dried up
looks ominous chris???

 

[chris1983]

Just pierced through the 60 cent level buyers have dried up
looks ominous chris???

I think everyone worries too much with price fluctuations. Maybe some large holder wanted to get out..pushes it down..starts some momentum. Just look at their ground etc. They wont stay at a 35 million fully diluted market cap. Thats all I got to say..when they hit 40 cents previously It didnt worry me..so falling under 60 still doesnt bother me.

 

[thefisherman]

bought at 60c, watched them go to 40c, sold at 67c, watch out fells this one is going DOWN, price manipulation for the share issue............stockbrokers win-punters lose

 

[chris1983]

bought at 60c, watched them go to 40c, sold at 67c, watch out fells this one is going DOWN, price manipulation for the share issue............stockbrokers win-punters lose

okay. we will see who has the profit in 6 months time.

Ohh wait im allready in profit..i topped up big time under 50. Like I say..fortune favors the brave. This is still an easy decision for me. Its easily made by looking at other namibian uranium explorers..it actually makes the decision a simple one.

One more comment.. "stockbrokers win"? what the..they only issued an extra 3.6 million shares at 60 cents..I have edited the post. I wont comment on this anymore

 

[mmmmining]

okay. we will see who has the profit in 6 months time.

fortune favors the brave. This is still an easy decision for me.

Chris, Good luck. As a holder of ERN, I would not bet my house on this one. Too risky. I guess you understand it if you like gamble. You know if you gamble there are two possibility, win or loss.

I fell more confident with BMN, or PDN, or others with at least some resources. But I agree that ERN is a wild horse (not WHE) , and very likely.

The price will be weakening in short time because of no news. But if you believe it, it could reward you handsomely eventually.

 

[chris1983]

Chris, Good luck. As a holder of ERN, I would not bet my house on this one. Too risky. I guess you understand it if you like gamble. You know if you gamble there are two possibility, win or loss.

I fell more confident with BMN, or PDN, or others with at least some resources. But I agree that ERN is a wild horse (not WHE) , and very likely.

The price will be weakening in short time because of no news. But if you believe it, it could reward you handsomely eventually.

Its not a gamble for me mmmmmining. Its an investment...which I have researched on. When did you get into BMN to feel more confident on them? I have held them since 48 cents pre share split..when they were granted their licenses..people would of considered that gambling too I'm guessing. I still currently hold BMN. Anyway I topped up on ERN when they went under 50 so I wont be increasing my holding anymore. Its purely a waiting game now.

Explain to me what the huge difference is between BMN 1 year ago and ERN now..both very low share holdings...ERN have 4 EPLS..Bannerman have 2. Erongo have 21 uranium anomolies on their most prospective license being the erongo granites licenses..Bannerman have 18 uranium anomolies on their licenses..Bannerman currently have historic drilling results and values..Erongo currently have proof uranium is existant on their license EPL 3453. Actual uranium values for the historic drills are still not available though as stated from their latest quarterly activities report. So hopefully they will be able to get those out to us soon.

Uranium spot price hitting $75 per lb and will continue upwards as demand will continue to outstrip supply.

In the mining friendly country of Namibia..where no Australian government restrictions will be placed on the company.

This is a good investment for me. Maybe a gamble for others.

 

[Reefer]

I was surprised the shares did not fall back further when the announcement of the placement was made. By the time the free options are factored in the placement has taken place at 53c and I thought the shares would retreat back to that level, albeit temporarily. Someone in an earlier post alluded to the news that the 5th licence may have been granted elsewhere and if that is fact I guess many traders may have punted on that tenement rather than the prizes Erongo have already cemented in. Thanks for all the research Chris1983 - I downloaded the Geological Survey and matched it up with the Erongo ground and I reckon you are on a winner - bound to be a few hiccups on the trip though. I was already in BMN but after following your threads have bought ERN and will buy more on SP weakness. Great work mate!!!

 

[chris1983]

Hey Reefer,

Thanks for the pat on the back..I find I have to keep reading and reading to keep me interested. Lets wait untill they hit 3 bucks and then you can tell me it was great research In regards to BMN I dont think it was a bad move selling out of them to buy ERN to get a larger parcel but I do think BMN will keep going and could continue past $5 easily this year.

There is one thing to be noted..ERN didnt really follow on the Berlin stock exchange..they are still trading at 36 EURO which is around 60.5-61 cents Australian. Good support over there for this stock.

 

[mmmmining]

Explain to me what the huge difference is between BMN 1 year ago and ERN now..

The difference is BMN has a lot of historic drilling results, you can feel it. Nothing against ERN, does ERN have enough historic drilling results yet? This is why ERN might reward you significantly if the odds is on your side.

 

[chris1983]

The difference is BMN has a lot of historic drilling results, you can feel it. Nothing against ERN, does ERN have enough historic drilling results yet? This is why ERN might reward you significantly if the odds is on your side.

Ok comparisons below.

Historic work on EPL 3453:
- 63 percussion holes drilled in Area 1 identified a flat undulating zone of mineralization 25- 35m thick over an area of 1,000 x 800m. Actual uranium values are not yet available.

- The first of two diamond holes in Area 1 identified yellow-green secondary uranium mineralisation from near surface in the weathered zone which ranged in value from 134 to 982g/t U3O8.

- Two additional drilled areas reported flat lying uranium mineralization roughly 6m thick. Actual uranium values are not yet available.

- A mineralogical investigation positively identified uraninite as the major primary uranium mineral and a metallurgical study concluded that no metallurgical problems existed.

- Identification of a previously untested 3,000m by 1,000m uranium anomaly.
At EPL 3523 historic mapping confirmed the area is underlain by valley-fill calcrete. A total of 30 percussion holes were drilled on a 1km x 1km grid. Three holes reportedly intersected anomalous uranium. Actual uranium values are not yet available.

Bannerman's historics were as follows

"Database of >230 drillholes for Goanikontes Anomoly A."


So in conclusion Erongo has stated there is 63 percussion drill holes in area 1. An additional 2 diamond drill cores also drilled in area 1. They state there was two additional areas drilled but dont reveal how many holes were drilled.

In my opinion there is not a huge difference. Maybe to you there is. Bannerman did have the grades of their historic drills but erongo dont so its still guesswork on the grades they may have.. I base my investments off comparisons and trying to work out what they may have and everything is looking pretty good to me so far..that may change and I'll drop this stock in the blink of an eye but atm what they have reported looks good.

 

[chris1983]

Im not saying Erongo will be the next Bannerman. Thats a pretty bold statement. Im saying this is a educated investment based off what we have been told. I dont think its a gamble. All you need is stupid uranium samples nowadays and the stock will run. Erongo definately will have more than that.

They have proof uranium exists on the tenements. They have huge anomolies on two of their licenses. They have historic drilling(currently no grades) just as Bannerman had to prove uranium does exist historically within the EPL. They have a sound management team.

 

[mmmmining]

Alright, you win. To appreciate your hard work, I am increasing my holding in ERN.

 

[Reefer]

I agree mmmmining, I think we should all support Chris1983 and all the research he has done by sending this stock thru the ozone layer on Monday. Think I'll buy some more as well.