Australian (ASX) Stock Market Forum

PEN - Peninsula Energy

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Might have a crack at .063 Monday if it hangs around!!
Sticking it's head above a little short term resistance with an oversold finish.
May get that century after all!!
 
notting said:
Might have a crack at .063 Monday if it hangs around!!
Sticking it's head above a little short term resistance with an oversold finish.
May get that century after all!!
Click to expand...

I concur, even if it doesn't, looking at volume, it is going to go.

tech/a wherefore art thou?

Sorry tech you are from Adelaide, that was Shakespeare.

However as the premier technician and trader on this forum your wise counsel would be appreciated.

gg
 
Not much here GG
Patience or play?

pen15.gif
 
Support holding at 5.8c back in at 5.9 look to exit at top of the range or ride the break out.
Quick exit if it breaks below 5.8 .1c risk unless gapped out.
 
Wonder what the fundies think when someone who is on the board of directors is talking down the sector,
But mining stalwart Warwick Grigor is less optimistic, believing the memories of Fukushima are too fresh. ''I think this nuclear winter that we are putting up with at the moment is going to go on longer than the optimists are suggesting,'' he said.
Grigor, who runs an investment advisory business and also sits on the board of uranium play Peninsula Energy, agrees that nuclear is the logical future power source for a world wanting to reduce its carbon emissions, but he said such decisions aren't always based on logic.
''We are dealing with a world where common sense doesn't rule, even though there is horrendous pollution occurring every day from coal-fired power stations, that is not enough to make some people overcome that psychological fear of nuclear power plants,'' he said.
Grigor said there could be a sweet spot for companies already producing or close to producing uranium, and he said those with multiple mines were best placed. But he said these were exceptions, and there was no justification for being bullish about the sector as a whole.
''I would say 90 per cent of the uranium hopefuls out there are going to find that the road is just too hard for them,'' he said.
Click to expand...


http://www.theage.com.au/business/u...n-fukushima-20120309-1uppn.html#ixzz1of8Axjsx
 
If your a long termer Uranium is where Gold was when central banks were selling it and people were saying it's no longer a measure of a countries wealth and it was trading close 250 an ounce! I think it was in 1998 and oil was 28!

A genius who I know told me to buy oil and gold! It seemed crazy. I remember one of those graphic moments as you do, as a holder, when it was already so down - I think it was the Swiss who had a big chunk were saying they were going to start off loading it. So I did got chicken and got out!!

Even our central bank had sold alot of Ausi gold prior for 312 an ounce and I was thinking they were pretty smart to have done that when it was subsequently trading at 250 something. Miners couldn't afford to mine it!

I think Uranium is in that spot right now! So if I really want to make good I should just stop trading buy PDN, keep some PEN maybe even some, dare I say the word, ERA and just go on holidays.
Come back mega rich!!
 
Trembling Hand said:
Wonder what the fundies think when someone who is on the board of directors is talking down the sector,



http://www.theage.com.au/business/u...n-fukushima-20120309-1uppn.html#ixzz1of8Axjsx
Click to expand...


Sometimes the ignorant should read between the lines...


"Grigor said there could be a sweet spot for companies already producing or close to producing uranium, and he said those with multiple mines were best placed. But he said these were exceptions,"

But you will eventually work it out...So much more happening but the "techies" will have to work that out for themselves.

Any of you genuises buy NWE?...no I thought not ROLOL
 
Fukushima:

Cost of clean up = $14 billion++
The town itself and surrounding areas uninhabitable for a decade or longer.
40% of in-ground uranium in in Australia (so I've heard).
Aussie uranium was powering the Fukushima plant when it melted down.
China is slowing.
Germany no longer interested in uranium power. R:R ratio has been analyzed - it's too high on RISK.

PEN. Got to think it's a poor outlook.
 
Gringotts Bank said:
China is slowing.
Click to expand...

They are appearing to have a slow down but their spending/growth was substantially on government planned cities that are not being inhabited, so the growth was a little contrived to begin with!!
Their uranium usage, however, is not slowing at all.
In fact it's about to go through the roof and dwarf the cuts made in other countries as a result of caution after Fukishima.
Then their is India - another billion or so people moving up in the world on real markets and their all getting into a new fad called air conditioning, India in case you may not know is HOT!!
 
hangseng said:
Sometimes the ignorant should read between the lines...

But you will eventually work it out...So much more happening but the "techies" will have to work that out for themselves.

Any of you genuises buy NWE?...no I thought not ROLOL
Click to expand...

Bizarre reply. :confused:

:cool:
 
Lunch is for Pigs!
Went out to lunch and came back to find I'd been slaughtered!!
Teach me to come back for seconds.
Stopped out and batting average reduced a little.
 
Once this was one of the most talked threads.
But since for about 3 weeks no one seemed to have shown interest in the forum or stock market.

Looks like this news could be a disastrous blow for many uranium hopefuls including me :banghead:

http://www.voanews.com/english/news/Japan-Shuts-Down-Last-Nuclear-Reactor-150287355.html

With record wall street depression on last Friday the ASx will follow it on Monday and just can not imagine what that leads to PEN stock.:banghead::banghead:
 
I am keeping an eye on PEN at the moment. Current market and Japan news may break the base of this but if it doesn't ????

(click to expand)
 

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Boggo said:
I am keeping an eye on PEN at the moment. Current market and Japan news may break the base of this but if it doesn't ????

(click to expand)
Click to expand...

Boggo

Compared to market trend today, PEN reduced so far only less than 2% which is a good resistant. What your chart says ? Too early to say if it is going to make or break the resistance ?

All the best
 
Miner said:
Once this was one of the most talked threads.
But since for about 3 weeks no one seemed to have shown interest in the forum or stock market.

Looks like this news could be a disastrous blow for many uranium hopefuls including me

http://www.voanews.com/english/news/Japan-Shuts-Down-Last-Nuclear-Reactor-150287355.html

With record wall street depression on last Friday the ASx will follow it on Monday and just can not imagine what that leads to PEN stock:
Click to expand...


Hi Miner, long time no chat....:D I have had a bit of a sabbatical from forums of late, so much negativity and I have been flat out at work. So much for a slow down lol. WA now has a massive labour shortage with mining projects coming on stream. One miner alone needing over 6000 new workers due to expansion. I may be in Indonesia but the spin off in engineering work coming our way is overwhelming, this week my company turning away work for the first time ever. I will be here for a while yet.

Back to PEN.....

Don't go slashing your wrists just yet. That last one was shut down for routine maintenance. The media conveniently left out that bit...again.:banghead:

This also should have been all over the media but only made it in Japan as a brief mention. This wasn't done to shut down reactors...

New sea wall erected to guard Onagawa nuclear plant against tsunami

SENDAI (Kyodo) -- A new sea wall has recently been erected at the Onagawa nuclear power plant in Miyagi Prefecture to guard the seaside complex against possible tsunami and was shown to local assembly members on Tuesday.
The sea wall, built in the wake of the nuclear disaster in nearby Fukushima Prefecture triggered by the March 2011 earthquake and tsunami, is about 3 meters tall, effectively making it a 17-meter sea wall given that it is built on ground about 14 meters above sea level.
The concrete structure, built at the Tohoku Electric Power Co. nuclear power complex in the town of Onagawa and the city of Ishinomaki, stretches about 600 meters along the Pacific coast. It was shown Tuesday to Ishinomaki assembly members in a guided tour.
All operating commercial nuclear reactors in the country have gone offline amid public concern over the safety of nuclear reactors in the aftermath of the disaster at the Fukushima Daiichi nuclear power plant.
May 09, 2012(Mainichi Japan)
Click to expand...


Also have a good read on the Japan economy and the negative effect it would have should they keep plants shutdown (unlikely). They are in the crap basically and to replace over 30% of power supply to another source would take both a lot of time and money...they don't have either. Also have a read of this...Why doesn't the media focus on this at all and only keeps the same old media hype going?

Reality will finally hit home, and soon IMO.

“Japan Continues to Need Nuclear Energy”*
*
http://uraniuminvestingnews.com/114...6580d53de-RSS_EMAIL_CAMPAIGN&utm_medium=email

In part...(go to link for full article)

Japan will eventually need to restart the reactors because there is no alternative to replace base load power for industrial support. Facing the prospect of a hot, humid summer without air conditioning may be the catalyst that the country will need to expedite the incremental consent to restart individual nuclear power plants. Dr. Tokuhiro indicated a positive outlook for uranium investors, stating that if “you have a manufacturing economy that is based on a cheap and abundant energy and you trace that back with nuclear fuel or mined uranium prices it is really going to shift the balance of power towards China.”
Click to expand...

As for PEN, it has copped a slating of late, but no orphan in that regard. The next 2 months will be a watershed IMO. Firstly if directors convert PENOA options, as I believe they will, this will have a confidence boosting effect for sentiment followers. If they don't I unfortunately see the opposite effect. I converted all of mine last week and they went through this week (see ann out this week). Cost me peanuts to get the PENOA thanks to both share issues and PEN being flogged a few times providing great buying on OA's, so it was an easy decision for me. If PEN holds the 4.0 level I will not sell any of the converted shares, but that is my sell signal otherwise. So far all ok.

Also we have 2 big milestones, very big being Funding and Permit to Mine.

If they keep to target then these should be announced by the end of June. We know from recent announcements PEN is in discussions over funding and has received a number of proposals that are most likely in the targeted area of 60/40 debt/equity. What we don't know is how advanced the discussions are. I know Gus has just returned from the US where he has been in talks over this, now we have to wait and see if that was just more talks or they have finalised something. I doubt if they have finalised anything yet as that would be a material aspect they must announce as soon as it is finalised.

But all in all, market noise and BOT arbitrage trading on PENOA/PEN aside, things are still progressing. I still hold market sentiment towards this sector has provided a once in a lifetime opportunity to contrarian investors. I believe this so much now I not only converted PENOA I followed the directors lead in Dec/Jan and bought another 1.5m at market recently courtesy of negative sentiment...Time will tell if I am right.

One thing I am sure of now is PEN will be a producer of uranium. If the study is correct, and I have no reason to believe it isn't, then they will pay off the capex within 18mths and produce free post tax cashflow of over $76m per/ann. Providing self funded development for Karoo. A falling AUD (likely) will help further as well as PEN will be paid in USD.

Hope this helps calm your nerves mate.:D

Look outside the noise and you will find plenty of truly knowledgeable and well informed opinion on Japan and the uranium market. The media is full of bull IMO and founded more on hype than reporting the full story. The mainstream media need hyped headlines to sell the crap they put out. How often do you see the evening news headlining positives? Normally they start off great with a welcoming smile then proceed to destroy your day leaving watchers depressed.

I haven't watched the evening news for years, nor do I plan to ever again. I can get weather, business and sport on my ipad and have no interest in any of the rest that depressing 30 mins of evening diatribe puts up.

ps. Sorry if anymore typos, doing this on my ipad at 4am in bed blurry eyed lol.
 
My apologies people.

The information I received on Gus was wrong. He is "in" the US but not "back" from the US. Sorry for any confusion.
 

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