PEN - Peninsula Energy

[rockingham178]

Re: PEN - Peninsula Minerals

There will also be a cap raising which is factual based on the ann...which is quite normal and I am sure this will be used to progress the Wyoming leases that have a Jorc compliant database.

The other is just plain unfounded bullsht that I am not going to support by posting....i.e. downramping pump and dump traders....they are being dealt with and will disappear as quick as they arrived in the last couple of days.

cheers
rock

 

[rockingham178]

Re: PEN - Peninsula Minerals

The new aquisitions of PEN are slowing gaining some attention.

"The two advanced uranium projects, Karoo in South Africa and Sundance in Wyoming, USA, have potential for the definition of multiple uranium deposits. The dedicated uranium exploration team and focused funds provided by Peninsula which held A$4.5 million in cash at 31 December 2006, will ensure rapid resource definition on the advanced stage uranium plays of Karoo and Sundance."
http://www.intierra.com/news.asp?news_id=9122

Peninsula's US prize
URANIUM punters will have to re-rate Peninsula Minerals now it has picked up ground in Wyoming and start comparing it with other locals looking for the metal in the uranium-friendly US. The junior is punching in the same weight class as Xstate Resources (Arizona), WildHorse Energy (Wyoming) and Uranium King (Nevada and New Mexico). Peninsula has bought the uranium portfolio formerly owned by PagMag Metals, which is now focused on copper and molybdenum. The deal also included greenfields tenements in Western Australia and South Australia, but Peninsula sees Wyoming as the prize.
http://www.theaustralian.news.com.au/story/0,20867,21316055-18261,00.html

 

[wotthe]

Re: PEN - Peninsula Minerals

Things seem to have gone fairly quiet with PEN. Does that mean nothing is happening or is it just a wait until the acquisitions are formalised in April?

 

[isiwin]

Re: PEN - Peninsula Minerals

Hi All..I'm new to this forum. PEN has been dropping quite a bit in the last few days,...do you think if this is something we need to worry about or is it just running its normal course....

 

[wotthe]

Re: PEN - Peninsula Minerals

Hi All..I'm new to this forum. PEN has been dropping quite a bit in the last few days,...do you think if this is something we need to worry about or is it just running its normal course....

That's pretty much what I was wondering ... wish I understood all the charting business ... guess that's another thing I need to learn

 

[rockingham178]

Re: PEN - Peninsula Minerals

Hi All..I'm new to this forum. PEN has been dropping quite a bit in the last few days,...do you think if this is something we need to worry about or is it just running its normal course....

IMO only...
This is from a few effects.

First the obvious market conditions giving some nervous traders the jitters. Some have dumped a lot of shares and although I obviously can't confirm all, I do know that some T+3 traders have dumped at the end of the day when the market was going down. Clearly they didn't want to have to pay for the shares or at least not too much.

Secondly if you watch the daily trading closely and I mean closely you will see this has been manipulated for approximately 6-8 weeks and definately the last 6weeks. I do watch PEN closely and each time PEN tries to break upward someone drops a very small parcel just below the sell order.

Add to that:
We now await...
The confirmation of the new aquisition and Jorc compliance of Wyoming (see previous posts).
The Cap raising noted in the last ann to expedite the PFS for the U development (you could only assume the target would be initially Wyoming, although Sth Africa [Balmoral] may also be included, as this has been indicated as advanced exploration)
And confirmation of the entire U portfolio being tranferred to PEN and shares issued to PMH.

Once all this is done you will see a change. IMO I believe any positive market movement you will see a change upward again anyway.

All my opinion based on what I have read and understood of PEN. For me this is all positive and will expedite PEN to a producer of U. Warwick Grigor has made it crystal clear publicly and to his peers in industry that they are serious about being in the U market and not just explorers.

 

[Sean K]

Re: PEN - Peninsula Minerals

1 March

This was trending beautifully until the blip. Might be a little resistance here at 9 cents, but once it's through, back onto all time highs by the look. MACD is showing downward momentum which is understandable, but if the real correction doesn't eventuate then it will probably turn pretty quick. What a great run. Good work if you were on this a few months ago.

That resistance at 9 cents was more than just a bit...Tested it for 7 days and failed. Momentum lost at that point. Should be support now between 7 and 8 cents, but nothing on the chart is now saying upward momentum in the short term . Medium term, it's still gone from 3 cents to 9 cents in 5 months! Sorry, I do not know enough about the fundamentals to comment here, best to dyor blah blah...Also, the jury is still out on the correction at the moment. I still see some potential weekness to eventuate and have been trying to keep my finger off the buy button for the past 3 months. If you've a short term vision on anything at the moment, best be prepared to see some negative movement in the overall market.

 

[Atomic5]

Re: PEN - Peninsula Minerals

Great potential but not a market darling this one. One of my 'BUY' watchlist though.

Was performing nicely, but still extremely volatile intraday, even when pushing 11c on the back of the general bull market.

I can never pick where this stock will go. But strangely enough PEN appears to be acting sanely, (Kennas you've seen me griping about other small caps that have not succumbed to the recent blips at all) .

There are no ann.s immediately pending for PEN so it's fallen victim to bear-market sentiment it seems.

This will probably do well when everything else is failing, 2nd Qtr to mid-year.

Warwick Grigor travels the world finding U clients for his stocks. I think he's serious.

 

[Sean K]

Re: PEN - Peninsula Minerals

(Kennas you've seen me griping about other small caps that have not succumbed to the recent blips at all) .

Yep, I know what you mean, and there are others who get smashed disproportionally too. Perhaps t/a doesn't work on microcap explorers? Tech/a might disagree. I'm still learning.

 

[mmmmining]

Re: PEN - Peninsula Minerals

I cannot find any background info about Sundance uranium project in Wyoming, USA. I cannot find it at PacMac's website, or ann.

But suddenly, it becomes the No. 1 hype of uranium project in the merged company.

Anyone knows?

 

[mmmmining]

Re: PEN - Peninsula Minerals

Found it at Feb 7 ann.

 

[Ang]

Re: PEN - Peninsula Minerals

Has anyone got a valuation on this one based on their 50%-50% Joint venture with Summit?
Kind regards
Ang

 

[Sean K]

Re: PEN - Peninsula Minerals

Has anyone got a valuation on this one based on their 50%-50% Joint venture with Summit?
Kind regards
Ang

They have a JV with SMM?

 

[rockingham178]

Re: PEN - Peninsula Minerals

I cannot find any background info about Sundance uranium project in Wyoming, USA. I cannot find it at PacMac's website, or ann.

But suddenly, it becomes the No. 1 hype of uranium project in the merged company.

Anyone knows?

G'day mmmmining
The Sundance project is, as you say a little difficult to locate however the Powder River Basin area of Wyoming is a big part of what PEn is to aqquire. This is recognised as the No1 location for uranium in the US and it is all about to become PEN's.

The Sundance area is very easy to locate and is quite well populated and infrastructure is clearly in place. I haven't yet gone over the Powder River Basin leases as this will be difficult to pinpont where they are until they are announced in detail.

This is clearly starting to gain momentum but I am now of the opinion that until the due diligence is finalised and all of the U leases are secured formally by PEN we won't see any change in SP. IMO when this does occur a significant positive re-rating will occur, especially considering the Wyoming leases have a Jorc compliant database already in place as a part of this deal.

Past information....

Pacmag announcement, in part....
source: http://www.pacmag.com.au/aurora/ass...nts 2007/6 Feb 07-Wyoming Uranium Project.pdf
PACMAG SECURES WYOMING URANIUM DEPOSITS
6 February 2007

PacMag Metals Ltd ("PacMag") are very pleased to report that the Company has secured the uranium mineral rights to in excess of 1000 acres of freehold land covering parts of the Sundance uranium project, including major portions of the Oshoto uranium deposits, and a further 1500 acres of state mineral leases covering along strike exploration potential in the north east Powder River Basin in Wyoming USA (Figure 1). Wyoming is host to several former and currently operating uranium mines owned by companies such as Cameco, Rio Tinto and Cogema.

The Sundance district hosts a significant amount of uranium mineralisation over a large area (35 kilometres by 8 kilometres). The roll front uranium mineralisation is hosted in several discrete deposits, and along the oxidation-reduction interfaces throughout the area. PacMag owns technical data covering the full extents of the roll front systems, whilst PacMag’s mineral rights, held through its wholly owned USA subsidiary Strata Energy Inc. comprise ~1000 acres of freehold land covering important parts of two of the Oshoto deposits, and a further 1500 acres of state mining leases covering portions of the projections of the roll fronts south of the deposits.



Another previous snippet out of interest........

"One thing can be predicted: this portfolio will add considerable credibility (and, no doubt, market value) to the company that clinches the deal."
Robin Bromby
February 10, 2007

WYOMING is the number one US state for uranium. It's where most of the country's yellowcake is produced. The world players - Cameco, Rio Tinto and Cogema - all mine there.

And the hottest place of all is the Powder River Basin. This week PacMag Metals secured 607ha of state mineral leases in that basin along with other Wyoming uranium targets.

 

[rockingham178]

Re: PEN - Peninsula Minerals

Keep in mind PEN will own 100% of these Wyoming U leases...no JV arrangements. If the market doesn't see value in this latest aquisition of PEN once it is finalised then I don't know what will...

Another snippet unrelated to PEN but information on the region and who else is exploring there.

Uranerz Energy Corporation: Powder River Basin Drilling to Commence; Surface Use Agreement Signed
(JV btween BLR and Uranerz)
http://biz.yahoo.com/iw/060621/0137879.html

 

[rockingham178]

Re: PEN - Peninsula Minerals

This may help as well.
http://www.trans-america.ca/ARhome.asp?void=1&sPID=11&VAfg=1&RQ=EDL,1&AR_T=1&linkid=58&T_ARID=20

Sundance, Wyoming

The 3,572 hectare Sundance uranium project is located about 322 kilometres northeast of Casper, Wyoming.

In 1970, a joint venture between Nuclear Dynamics, Inc. and Bethlehem Steel Corporation, (NuBeth) acquired a land position in this area of approximately 40,460 hectares. Subsequent exploration led to the discovery of substantial zones of low grade uranium mineralization associated with an extensive system of roll fronts. An In-Situ leach pilot plant was constructed and successfully operated. The NuBeth joint venture drilled more than 5,000 exploration and development holes in the vicinity of the Sundance deposit, defining a new uranium district that has been estimated to contain several million pounds of uranium at a grade of approximately 0.05% U3O8.

 

[mmmmining]

Re: PEN - Peninsula Minerals

Rock, Thanks for the info. Do you believe PEN will need to raise more money indicated in the ann? Logically, it will because of additional grounds need to cover.

 

[rockingham178]

Re: PEN - Peninsula Minerals

Rock, Thanks for the info. Do you believe PEN will need to raise more money indicated in the ann? Logically, it will because of additional grounds need to cover.

The cap raising obviously will occur (as in the last ann) and in this case is extremely positive IMO. This is as they have stated to rapidly progress the Wyoming and Sth African U leases.

As with all mine development they will need to raise further funding but how they do that I would have no idea. I am expecting that funding won't be a problem though, loads of eager large investors out there with significant $$$ to place into U, especially in the US and Sth Africa.

 

[mmmmining]

Re: PEN - Peninsula Minerals

It could explain the sliding of share price. (share price manipulation?)

 

[rockingham178]

Re: PEN - Peninsula Minerals

It could explain the sliding of share price. (share price manipulation?)

I strongly believe that is the case with PEN.

Couple that with 2 other facts:
1. market correction (panic driven selling)
2. Until due diligence is complete and the deal is sealed, it is not a done deal.

Once all the dots line back up, as I have stated previously I believe PEN will have a sustantial positive re-rating. If I am right (and I really believe I am with this) then the current sp provides extremely good value.

cheers
rock