PEN - Peninsula Energy

[mmmmining]

Re: PEN - Peninsula Minerals

Mate, I think you might be right. They are running out of cash and with so many exploration plans in hand they need to do it to inject the cash needed. Day traders don't like share placement but med/long term investors don't mind it as its a way to increase market capitalisation.

For uranium stocks, everybody like placement. Institutions like, because they can get it at discount (of course, they have to do the dirty job first, to bid up SP). Existing shareholders, you and me like it, because possible SPP. Even without SPP, we are still happy to see company get the money need, and we don't need to contribute. The more money raised the better. And SP continues to rise... Very bullish sector currently, and unusual.

 

[Rob_ee]

Re: PEN - Peninsula Minerals

Thanks Ang for the explanation.

IF I were holding I would probably prefer a SP , that way no need to share IF a really good resource is found.

Rob

 

[Mousie]

Re: PEN - Peninsula Minerals

Even without SPP, we are still happy to see company get the money need, and we don't need to contribute. The more money raised the better.

Not me, I prefer to contribute to underwritten SPPs so that:

1. If I don't contribute, the money will still get raised,

2. If I contribute, I get a nice profit.

I actually don't like share placements as they dilute the share capital without me, an existing shareholder, getting a piece of it.

 

[Atomic5]

Re: PEN - Peninsula Minerals

Thanks Ang for the explanation.

IF I were holding I would probably prefer a SP , that way no need to share IF a really good resource is found.

Rob

Wasnt there similar or an even bigger spike Jan 2nd with no ann.
Be interesting to see what this one is about. Dang!

 

[hangseng]

Re: PEN - Peninsula Minerals

Mate, I think you might be right. They are running out of cash and with so many exploration plans in hand they need to do it to inject the cash needed. Day traders don't like share placement but med/long term investors don't mind it as its a way to increase market capitalisation.

Running out of cash?

Half Year Financial Report
$4.5m cash
Recording a nett profit of $437,960

 

[Atomic5]

Re: PEN - Peninsula Minerals

Hang Seng, you think 4.5m is enough?

Look at WMT, they had $5m, spent half of it on roping in BHP and then implemented a placement for $25million.

$5m wouldnt even pay for exploration equipment across a few square kilometres.

 

[PureCoco]

Re: PEN - Peninsula Minerals

I don't understand the market depth this morning, it has gone mad considering (at this time) I can find no announcement. Do you have any explanation?

 

[Ang]

Re: PEN - Peninsula Minerals

Thanks Ang for the explanation.

IF I were holding I would probably prefer a SP , that way no need to share IF a really good resource is found.

Rob

Let me tell you by experience I used to own PNN and they brought in the Chinese, Sino as a type of farm out arrangement to raise money for exploration. I bought at 36 cents and sold @ $1.2 , damn it is now @2.05. So I would say the deal these guys hopefully are about to announce is a simmillar deal to PNN, however the deal will be with the USA partner. And I don't have an issue with farm outs as long as they structure them in our favour.
Kind regards
Ang

 

[hangseng]

Re: PEN - Peninsula Minerals

Hang Seng, you think 4.5m is enough?

Look at WMT, they had $5m, spent half of it on roping in BHP and then implemented a placement for $25million.

$5m wouldnt even pay for exploration equipment across a few square kilometres.

I didn't suggest it was enough, I was querying the "running out of cash" view.

They definately will require further capital, I don't see this as a negative. How they do it is what I am interested in. I have a personal distaste for companies that do cap raisings in any form to the detriment/expense of shareholders. If it truly is a beneficial arrangement for all parties then good. If it is merely lining pockets of "sophisticated investors" at the expense of loyal shareholders then I get just a little annoyed. Recent examples of this have occurred and the market voted, with their feet.

I particularly dislike the giving of free options unless this is to existing shareholders via a cap raising, displaying some form of value and loyalty to shareholders.

I am quietly confident that this will be positive.

 

[Jus]

Re: PEN - Peninsula Minerals

Holding well today, not a bad close @.091 Bring on the ann. and see this little beauty rocks.

 

[AJ_]

Re: PEN - Peninsula Minerals

breached 11 cents (last high) hit 11.5 cents now in blue sky !!!

PEN looking good !

 

[sampson]

Re: PEN - Peninsula Minerals

Yes, I have been on PEN since 6.9c looking good now.

 

[Ang]

Re: PEN - Peninsula Minerals

The majical 11.5 cents. Yes !! should open high tommorow with blue skys. My target price is 13.5 cents any one with any diiferent price.
Kind reg
Ang

 

[Lucky_Country]

Re: PEN - Peninsula Minerals

At least 15c by end of month Labour confrence too allow u3o8 mining completion of PMH assets all good in my opinion maybe even a wyoming JORC

 

[daaussie]

Re: PEN - Peninsula Minerals

I saw some big share purchases today, one person bought 8 million shares at 11 cents, that's about $880,000 according to my calculations. That was enough for me to buy.
It has gone through all profit takers, now we see tomorrow. I hope 14.5 cents.

Anyone think it will do what WMT did?

 

[Halba]

Re: PEN - Peninsula Minerals

Be careful. My research indicates low resources, only 1100t deposits in South Africa, and small resources in the USA. Until they prove sizeable bigger deposits then I won't be interested. Mkt value over 70 million already fully diluted.

 

[Ang]

Re: PEN - Peninsula Minerals

Be careful. My research indicates low resources, only 1100t deposits in South Africa, and small resources in the USA. Until they prove sizeable bigger deposits then I won't be interested. Mkt value over 70 million already fully diluted.

How can you substantiate such a statement??
reg
Ang

 

[Jimminy]

Re: PEN - Peninsula Minerals

Be careful. My research indicates low resources, only 1100t deposits in South Africa, and small resources in the USA. Until they prove sizeable bigger deposits then I won't be interested. Mkt value over 70 million already fully diluted.

bit like BLR and Taylor Ranch.....they had 2-3m/lb estimate on it originally. Now it is 15-20m/lb resource target in Wyoming with possible extensions.

If you think they have a potentially low resource Halba I would be suggesting you think the opposite of how you are thinking. See the good in the bad.

 

[Sean K]

Re: PEN - Peninsula Minerals

How can you substantiate such a statement??
reg
Ang

Ang, if this is incorrect, then what does your analysis point to? It's an open forum here and everyone can put up their own analysis to be scrutinised by anyone else. Maybe Halba is right.

 

[mmmmining]

Re: PEN - Peninsula Minerals

Ang, if this is incorrect, then what does your analysis point to? It's an open forum here and everyone can put up their own analysis to be scrutinised by anyone else. Maybe Halba is right.

Come on, Kennas, Ang did not talk about the resources. It is Halba's statement about "small resources in USA". I believe Ang's question is fair, and Halba should tell us how much it is.