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PEN - Peninsula Energy

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Should do---Lets see how Supply reacts to any up move.
 
Miner
It's pretty common for support to be broken without
Follow through,infact it happens more often than not.

PEN isn't showing any technical entry signals.
It's simply at the bottom of a range.
 
Vale Tony Simpson

Very sad to hear of the recent passing of Tony Simpson.

Former COO of PEN and then CEO of BLR. Instrumental in achieving the aquisition of so much valued ground at Lance, some of which was never explored due to past strict land owner restrictions. Restrictions Tony obviously overcame with his professional and straight forward no bulldust approach.

My sympathies extend to his family and friends.

See the BLR announcements for notices of his passing.
 
2.8c support broken

Short term measured move target = 2.8 - (3.1 - 2.8) = 2.5c

2.5c = yearly low

 
Looks like a bearish continuation descending triangle pattern if I'm not mistaken.

Measured move target = 2.4 - (2.8 - 2.4) = 2.0c

 
The latest drills results show that they are unable to achieve continuity of resource.

The Kendrick high grades in shallow thickness are typical of roll fronts . . . . . . . . . . . . . . . geologically patchy by nature.

They continue to burn cash . . . . . . . . . . . and I think it is time that management reviewed their own salaries.

GT
 
mickqld said:
Not looking very bearish at all...Objections have been negotiated and agreed to by Strata last night
Click to expand...
Sounds imminent...

"Uranium Woes: No Relief for Prices Amid Low Demand -

Spot prices for uranium hit a two-year low last week at $45.75 amid a pending decision over Japan’s nuclear future, excess uranium inventories and slowing growth in China...and the more realistic outlook for a spike in uranium prices in probably 4-6 years"

http://247wallst.com/2012/10/17/uranium-woes-no-relief-for-prices-amid-low-demand/
 

Spot prices dont mean squat to most U miners. They sign off on long term supply contracts with utilities at much higher prices most around $65-$70 currently. PEN is about to be issued with Permit To Mine and then likely to sign off on a funding deal. 2013 will see mine construction begin and end 2013 likely SML issued which will greenlight production something the USA is screaming out for at moment, home grown energy supply.
 
Folks
Any guess if PEN would be able to capitalise recent discussion and possible off take contracts by India per recent visit of Julia Gillard to India ?
 
Doesn't look like Japan is going to leave all these plants offline for too much longer. Germans wont be far behind either when the economic cost of power shortages or importing power begins to really bite.

Hydrogen fix for Japanese reactors

19 October 2012

Areva is to fit all 23 Japanese pressurized water reactors with hydrogen recombiners that help to prevent the explosive gas building up in emergency situations.
The French company announced a contract to provide a bulk order of its passive autocatalytic recombiners. The devices use catalytic oxidation to turn traces of hydrogen into steam, a process that works constantly and requires no power. They will be fitted in the reactor unit containment vessels to help prevent hydrogen explosions and "preserve the integrity of the reactor," said Areva.
Many nuclear operators installed systems to manage hydrogen after the partial core melt at Three Mile Island in 1979. Unfortunately, this was not the case in Japan. During the accident at Fukushima Daiichi last year, many hours without power for cooling water pumps saw nuclear fuel in the cores of units 1, 2 and 3 overheat to the point that zirconium fuel cladding oxidised in the presence of steam, producing hydrogen and oxygen. At units 1 and 3 this was able to escape the containment and concentrate in the tops of the buildings, where it eventually exploded and caused extensive physical damage to those units as well as unit 4.
Areva said it will install more than 100 of its devices at the Japanese pressurized water reactors, which make up 23 of the country's 50-reactor fleet. The reactor type is used at the following Japanese nuclear power plants: Ikata, Mihama, Ohi, Sendai, Takahama, Tsuruga, Tomari and Genkai.

http://www.world-nuclear-news.org/RS_Hydrogen_solution_for_Japanese_reactors_1910121.html
 
Miner said:
Folks
Any guess if PEN would be able to capitalise recent discussion and possible off take contracts by India per recent visit of Julia Gillard to India ?
Click to expand...

I think we'll find PEN will be selling most of their product to USA companies.
 
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