NGM - NGM Resources

[chris1983]

Okay guys this is another uranium play with grounds in Queensland and newly acquired grounds in Niger.

The Niger tenements they Acquired were locked up for years by the French. I cant do an indepth post as I'm at work but I would seriously consider doing some heavy research into this stock if you are interest by African uranium plays. Below is a quick rundown and some of my thoughts. NGM has had a retrace but is starting to pick back up again. I was looking at an entry just under 60 cents but it didn't come so I decided to buy in now due to the upturn from the recent retrace. I have been waiting for these grounds to be granted and now that they have I'm onboard to see how everything unfolds.

Indo Energy’s exploration concession applications are located to the south of Niger’s major uranium mines at Arlit, in central Niger. These mines have combined reserves of approximately 43,000tU grading between 0.3% and 0.5%U. Production from these mines has established Niger as the world’s sixth largest producer of mined uranium (3,093tU or 9% of world supply in 2005).

Indo Energy’s concessions cover highly prospective rocks of the arboniferous and Jurassic-Cretaceous sedimentary sequences. The rocks are similar to those that host the uranium mineralisation at Arlit and the nearby undeveloped deposit at Imouraren which has a resource of approximately 80,000t of contained uranium at a grade of 0.1%U.

Niger is the 6th largest producer of uranium for the world and the grounds they have gained are next to Imouraren one of the largest undeveloped deposits in the world. Further to the North is the Arlit uranium mine opering with an average grade of 0.3%-0.5%.

NGM Resources Announces 3 Uranium Concessions Granted to Indo Energy
Tuesday May 15, 2007, 12:12 pm

Original Announcement: Grant of three uranium concessions in Niger

NGM Resources advised that three uranium exploration concessions have been granted to Indo Energy in the highly prospective Tim Mersoi basin in Niger. The company's option to acquire 100% of Indo Energy has now been triggered by the granting of the three concessions. Indo Energy plans to fly an airborne geophysical survey over the granted concessions in May or June.

See below for an image of the grounds they have acquired.

 

[chris1983]

Not much talk on this one. There was a bit of movement today. Still will be a lot more comfortable when I see it back into the mid 70's. Happy to be holding and waiting though. The company said they would be evaluating historics after the granting of their three sessions.

"In the 1980’s, part of the concession area were explored for uranium by the Japanese Nuclear Agency (PNC) and outcropping uranium mineralisation is reported from within the concessions. Data on the previous exploration will now be evaluated."

The evaluation of historical data is what I'm hanging out for. This is another company that met all my criteria to have a go at. The market cap seemed slightly higher than what I would of liked but I think if they will have some decent historical data we could get a decent increase in SP. The grounds they have acquired is very highly prospective also.

 

[chris1983]

Some large buyers stacked at 79/80. Could very easily breakout soon. This is a potential breakout atm. I think the projects they acquired yesterday were very promising.

NGM TO EXPLORE FOR NICKEL IN MADAGASCAR

SUMMARY
• NGM has reached an agreement with BHP Billiton to acquire 100% of BHP Billiton’s nickel exploration projects in Madagascar
• The agreement covers significant ground-holdings with potential for nickel sulphide deposits in four areas of Madagascar
• Results of recent drilling of a significant geophysical anomaly at Analalava are awaited
• NGM will joint venture the project with M3 Madagascar Ltd a privately owned company, to help fund the exploration program
• NGM and M3 Madagascar will spend US$1 million on nickel exploration in Madagascar within the coming year and an
experienced exploration team is in place.

 

[prawn_86]

im just wary of all these newish U plays. companies saying they are sitting on a lot of resources, but how many of them will actually get to production or t/o stage and how many will just eventually wither?

i know U still has a long way to go yet to get the supply and demand right but there seems to be a new U explorer every week.

that being said i own PDN to exposure to U prices and DYL as a U explorer so i dont really need any more in my portfolio.

 

[ta2693]

I agree, it is very likely to breakout in the near future. But the two big order at 80c and 79c stop me punting in. I am wondering why they put the order there if they seriously want NGM? The chance is very low for ppl to come and fill in the order. They may want to sell actually from my point of view.

 

[chris1983]

I agree, it is very likely to breakout in the near future. But the two big order at 80c and 79c stop me punting in. I am wondering why they put the order there if they seriously want NGM? The chance is very low for ppl to come and fill in the order. They may want to sell actually from my point of view.

They definately want NGM but they aren't willing to push their prices up yet. Maybe if a larger seller came in they could take them out but there hasn't been any large sellers just yet. Pushing up daily..looking extremely good on the charts. Buyers are stacked from 79 to 81. Its been a potential breakout for the past week now and looking very strong.

 

[ta2693]

They definately want NGM but they aren't willing to push their prices up yet. Maybe if a larger seller came in they could take them out but there hasn't been any large sellers just yet. Pushing up daily..looking extremely good on the charts. Buyers are stacked from 79 to 81. Its been a potential breakout for the past week now and looking very strong.

Yes, I agree the breakout is more than likely right now. I find the large 80c bid was tested by some small filling several times. But the 80c bidder did not stand back. I believe his intention to buy is genuine.

 

[ta2693]

The intention of big buyer at 80c is tested again and proven to be genuine.
The Chance of breakout is very high in near future, if it could be supported by the Ni or U commodity price or some other good news.

 

[bellenuit]

They have gone into a trading halt.

It must relate to Venturex (VXR).

Venturex has gone into a trading halt at the same time for the same planned duration. But if you look at the VXR announcement to the ASX, it includes not only a page in relation to their trading halt, but also the same page as posted by NGM on NGM's trading halt.

I don't know anything about NGM, but I don't think Venturex has the finances to take over NGM, so it may be NGM taking over VXR. Pure speculation on my behalf.