Australian (ASX) Stock Market Forum

PEN - Peninsula Energy

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mickqld said:
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.
Click to expand...

The USA is not screaming out for home grown energy supply, it is offloading it. PEN is based in Wyoming...

"Federal uranium stockpile sales still spark concern -

Cold War-era uranium stockpiles are being sold off at a rate that U.S. Sen. John Barrasso, R-Wyo., describes as too fast.
So fast that they could affect the Wyoming uranium industry.

“They’re making it much harder to produce uranium in Wyoming and other places in the country.”"

http://trib.com/business/energy/federal-uranium-stockpile-sales-still-spark-concern/article_3e6ca420-7793-5a23-aae4-50f91ec51dca.html?comment_form=true
 
http://www.theenergyreport.com/pub/na/14596

"..........TER: Uranium Energy Corp. (UEC:NYSE.MKT) is currently producing uranium from its Palangana in-situ deposit in Texas, and it is developing the Goliad in-situ project, also in Texas. Is the success of that company impacting others in the sector? In other words, is this a template that investors can follow with similar companies?

JH: Yes, exactly. When you start seeing new U.S. uranium production, it's a huge boost of confidence for the entire sector. This may impact other companies such as Ur-Energy, which recently received its permits for construction and Uranerz, which has a great position in the Powder River Basin and which already has a processing agreement with Cameco at its nearby Smith Ranch in-situ uranium asset. It already has an offtake agreement with a very large utility at much higher uranium prices, at like I think $60–65/pound (lb). We believe it will shortly receive its final deepwater disposal well permit for production.

TER: Do you think there will be further consolidation in the Athabasca Basin? Or is Texas looking ripe for the picking right now?

JH: You have to look for operations where it is already working, such as in the Powder River Basin of Wyoming with Uranerz or in the Athabasca Basin. Some names there are Denison Mines Corp. (DML:TSX; DNN:NYSE.MKT), UEX Corp. (UEX:TSX) and Fission Energy Corp. (FIS:TSX.V; FSSIF:OTCQX), which could attract a major that is looking for exploration plays modeled after Hathor Exploration's success, using some of the same technical personnel.........."
 
mickqld said:
Spot prices dont mean squat to most U miners. 2013 will see mine construction begin and end 2013...
Click to expand...
Are you a U miner? Doubt it. You're a long term holder.
U stocks don't rise without a rising spot price.
Construction won't bring a SP rise either. Uranerz are further advanced than PEN.
Here's their chart showing what happened to the SP after construction was announced...
A 50% crash...

http://www.uranerz.com/s/NewsReleases.asp?ReportID=469375&_Type=News-Releases&_Title=Uranerz-Commences-ISR-Uranium-Mine-Construction

big.chart.gif
 
Uranerz drop wouldn't have had anything to do with Fukushima and the media driven hysteria for months afterwards would It ??????
 
mickqld said:
Uranerz drop wouldn't have had anything to do with Fukushima and the media driven hysteria for months afterwards would It ??????
Click to expand...
Partly. More likely speculators losing interest & selling the news...

Are you aware that Fukushima still threatens Global Human Survival?

"The ground beneath Unit 4 has sunk by about 31.5 inches already. Further sinking, or a minor earthquake could cause the entire structure to collapse, draining the pool and causing a meltdown of potentially catastrophic proportions. Some scientists predict that this would mean the ruin of Japan and a serious threat to the rest of the world." 21 October 2012

http://www.agoracosmopolitan.com/news/nature/2012/10/19/4621.html
 
dengo said:
Are you a U miner? Doubt it. You're a long term holder.
U stocks don't rise without a rising spot price.
Construction won't bring a SP rise either. Uranerz are further advanced than PEN.
Here's their chart showing what happened to the SP after construction was announced...
A 50% crash...

http://www.uranerz.com/s/NewsReleases.asp?ReportID=469375&_Type=News-Releases&_Title=Uranerz-Commences-ISR-Uranium-Mine-Construction

View attachment 49402
Click to expand...

Dear Dengo

Congratulations
I found your cautionary and doubting postings about PEN is inversly proportional to the price increase of PEN stock :)
So good sign is please do continue with more alarming news about PEN and uranium stocks, as I am sure Market will love that to increase PEN share price for some of us to quit :D
Take care and LOL
 
Permit to Mine is expected to be granted mid November. Share price has certainly reacted well to the impending permit. Some recent high volume days are showing renewed interest in PEN hopefully the good news will continue with a funding deal announced by Christmas.
 
GT 86 said:
I think a capital raising is on the way . . . . . . . . . more dilution


GT 86
Click to expand...

Funding for mine construction and production will come from a debt/equity deal not capital raising by issuing more shares. Company has all but stated such in previous announcements.
 
The people that own the largest holding in this stock, have in my opnion just taken their foot off the brake . . . . . . . while the carrot of the PTM is held in front of retail investors.

Forget the permit to mine . . . . . . . . . investors should be more concerned about a JORC threshold being met.

When the company can release a commercial size resource via JORC, my opinion may change.

This is a resource company . . . . . . . .where is it? . . . . . . .at this stage it appears not in one spot, and becoming deeper with every set of drill results.

Much more expensive to extract at the deeper levels, PFS / DFS allows for average depth of about 500m . . . . . . although all the latest drilling is 900m.

Roll fronts are notorious for being patchy in resource and grade, as the most recent string of drill results have shown.

I am not impressed with the large pay packets of people who have at this stage not been able to deliver their promised commercial size JORC.

The above are facts . . . . . . . .

Current move is good for traders . . . . . but which ones?


GT 86
 
GT 86 said:
The people that own the largest holding in this stock, have in my opnion just taken their foot off the brake . . . . . . . while the carrot of the PTM is held in front of retail investors.

Forget the permit to mine . . . . . . . . . investors should be more concerned about a JORC threshold being met.

When the company can release a commercial size resource via JORC, my opinion may change.

This is a resource company . . . . . . . .where is it? . . . . . . .at this stage it appears not in one spot, and becoming deeper with every set of drill results.

Much more expensive to extract at the deeper levels, PFS / DFS allows for average depth of about 500m . . . . . . although all the latest drilling is 900m.

Roll fronts are notorious for being patchy in resource and grade, as the most recent string of drill results have shown.

I am not impressed with the large pay packets of people who have at this stage not been able to deliver their promised commercial size JORC.

The above are facts . . . . . . . .

Current move is good for traders . . . . . but which ones?


GT 86
Click to expand...



Throwing out a lot of spanners there GT86, bit of a sling the mud approach it seems. What about the further dilution you said is coming? Off that topic and sling around some more rot.

"commercial size resource via JORC"? Really? Please pray tell what YOU regard as "commercial size resource via JORC".

yawn... same old same old


edit....Bit slow off the mark today but now see you are a fan of the ongoing dog soon to be heavily diluted BLR. The stock I was hounded down for my prediction it would go sub 2c and went to 1.9 and now 1.7 and looks sick as the dog it is. Yes a big resource but that is about it. Talk of PEA and going to 6c is simply ramping rot, it has fallen from over 30c for a reason. Major environmental hurdles, no cash and needs cash fast to continue lining the pickets of management that have taken that company nowhere and shareholders for a ride like some rampers eh buc...

PEN will be producer at least 4 years ahead of BLR and will be cashed up and advancing Karoo. Whilst BLR will still be pondering a permit to mine.
 
"PEN will be producer at least 4 years ahead of BLR and will be cashed up and advancing Karoo. Whilst BLR will still be pondering a permit to mine. "

Maybe, but BLR have a resource, PEN is still drilling, rather odd for a company that is so close to producing.

I believe that PEN was supposed to be producing by now, based on your own earlier predictions . . . . . . . . can you enlighten me as to the factual reason this has not happened.

A slight matter of resource size seems to be slowing the progress . . . . . . . . at PEN, but they are drilling furiously to help that JORC. . . . . . . . .at current cash burn, when will PEN need more funds for day to day expenses, other than drilling expenses. ?

I would be interested in your opinion on drilling going deeper and deeper, as stated from PFS/DFS 500 m to current 900 m, would you like to tell us how that will cost the same to extract.

"Continuity of resource", seems to be the major problem . . . . . .I would value your comment on this ?

Current environment for raising capital suggests that the best deal for an explorer come producer might be 50 % Debt and 50 % Equity.

Earlier estimates for full production costs per pound, are now heavily reliant on a lot more U being found in ONE spot. . . . . . . . . re " Continuity of Resource "

Would appreciate any clarity on the above . . . . . . .as long as it is factual, not opinion.

Thanks

GT 86
 
From the quaterly activities


"Drilling Programme
July to September 2012
During the September quarter Peninsula completed a further 304 development drillholes for a total of 303,275
feet at the Lance Projects. Two rotary mud rigs were engaged during the quarter.
Of the 304 drill holes completed during the quarter, a total of 33 holes encountered mineralisation greater than
0.2GT. A total of 35 holes recorded multiple stacked intersections of uranium mineralisation.
Drilling during the quarter has been focused on converting inferred resources to the indicated category in the
planned Kendrick Production Unit located to the west of the Ross Production Unit.
Drilling in the area has previously identified the K3, K4, K5, K5A and K6 roll fronts. These roll fronts merge in
places to produce wide areas of continuous mineralisation. This continuous mineralisation has now been
identified over a combined strike length of 22 kilometres with horizontal widths of up to 60m in the northern K5
area.The demonstrated continuity of the K3 roll front is over 7 kilometres, the K4 roll front over 1 kilometre, the K5 roll
front over 4.3 kilometres and the K6 roll front over 9.2 kilometres.
The most recent drilling has further defined the southern extensions of the K3, K4 and K5 roll fronts (towards the
Mellot Ranch area in the southern portion of the amendment area). The roll fronts in the Mellot Ranch area
consist of mineral deposits in sands belonging to the Lower Fox Hills Formation, together with the sands of the
Lower Lance Formation. In addition shallower roll front trends (M5) have been identified in two distinct sands in
the Upper Lance Formation. "

Doesn't sound like to me they are struggling to find enough continuous resource.
 
GT 86 said:
"PEN will be producer at least 4 years ahead of BLR and will be cashed up and advancing Karoo. Whilst BLR will still be pondering a permit to mine. "

Maybe, but BLR have a resource, PEN is still drilling, rather odd for a company that is so close to producing.

I believe that PEN was supposed to be producing by now, based on your own earlier predictions . . . . . . . . can you enlighten me as to the factual reason this has not happened.

A slight matter of resource size seems to be slowing the progress . . . . . . . . at PEN, but they are drilling furiously to help that JORC. . . . . . . . .at current cash burn, when will PEN need more funds for day to day expenses, other than drilling expenses. ?

I would be interested in your opinion on drilling going deeper and deeper, as stated from PFS/DFS 500 m to current 900 m, would you like to tell us how that will cost the same to extract.

"Continuity of resource", seems to be the major problem . . . . . .I would value your comment on this ?

Current environment for raising capital suggests that the best deal for an explorer come producer might be 50 % Debt and 50 % Equity.

Earlier estimates for full production costs per pound, are now heavily reliant on a lot more U being found in ONE spot. . . . . . . . . re " Continuity of Resource "

Would appreciate any clarity on the above . . . . . . .as long as it is factual, not opinion.

Thanks

GT 86
Click to expand...

The table of holes drilled in the last quaterly varys from 500 ft to 1200 ft meaning around 170 meters to 400 meters at most and thats only a few holes. The average hole depth is around 800 ft or around 270 meters. I dont know where you are getting 500 to 900 meters from.
 
mickqld said:
The table of holes drilled in the last quaterly varys from 500 ft to 1200 ft meaning around 170 meters to 400 meters at most and thats only a few holes. The average hole depth is around 800 ft or around 270 meters. I dont know where you are getting 500 to 900 meters from.
Click to expand...

And as for the lack of resource continuity that is a stab in the dark. The targetted roll front maps showing continuity of resource.

Anyway enough of your rot.

Just in hot off the press from super sleuth T20 holder Yuro:
"PEN applied for $70 million in Govt bonds. In the notice below the nay or yay is decided on the 6th Nov US time. I see also there is a expectation by PEN to have all ( read SML) permits within 15 - 18 months. A great development here's hoping they can pull it off!"

http://www.newzgroup.com/WYLegals/5...etpub\wwwroot\wyoming\dtSearch_form.html&.pdf
 
Mick

You are very correct on the Meters being Feet . . . . . . . but as the PFS/DFS allows for 500 ft and it is now about 800 ft average . . . . . . . . estimated production costs are increasing.

I look forward to the next JORC upgrade ( Measured & Indicated ) . . . . . . . . It WILL be evident whether roll fronts really provide commercial resource continuity or not.

Bring on the JORC upgrade . . . . . . . . . I hope it happens before any capital raising.


GT 86
 
From the Crookcounty website.



NOTICE OF PUBLIC HEARING
CONCERNING THE ISSUANCE OF
CROOK COUNTY, WYOMING
INDUSTRIAL DEVELOPMENT REVENUE BONDS
(STRATA ENERGY INC. PROJECT)
PUBLIC NOTICE IS HEREBY GIVEN that a public hearing will be held by the Crook County Board of County Commissioners on Tuesday, November 6, 2012, commencing at 10:00 a.m., or as soon thereafter as the matter may be heard, in the Commissioner’s Room of the Crook County Courthouse, Sundance, Wyoming, for the purpose of providing a reasonable opportunity for interested individuals to express their views, orally or in writing, on the issuance by Crook County, Wyoming (the “County”) of industrial development revenue bonds (the “Bonds”) and the nature of the Facility described below which will be financed through the issuance of the Bonds pursuant to the provisions of Wyoming Industrial Development Projects Act, and purchased by the State of Wyoming pursuant to Wyo. Stat. 9-4-715(a)(m).
The County has been requested by Strata Energy, Inc., a Delaware corporation (the “Borrower”) to issue the Bonds in an aggregate principal amount not to exceed $70,000,000 to fund a loan by the County to the Borrower for the purposes of (i) construction of well fields and a central processing facility in order to produce U308 (yellowcake), for sale to utilities within the United States and elsewhere (the “Facility”), and (ii) paying certain costs of issuance relating to the Bonds (collectively, the “Project”).
The Borrower is an emerging Uranium producer. Its Lance Project is located 24 ½ miles north of Moorcroft at Oshoto, Wyoming. The Lance Project has one of the highest identified uranium resource deposits in Wyoming and feasibility studies indicate the potential for long term mineral extraction activities on the order of 20 years or more. Within the next 15 to 18 months, the Borrower intends to achieve the proper licensure and begin construction of the Facility.
Interested members of the public are invited to attend the public hearing. Persons desiring to obtain additional information concerning the Bonds or the Project in advance of the hearing should contact the County Growth and Development Office. Information will be made available, when it is received from the Borrower, in the Growth and Development Office, Crook County Courthouse P.O. Box 848 Sundance, WY 82729 307-283-4548 and it will be posted at http://www.crookcounty.wy.gov/departments/growth_and_development/index.php
( S E A L ) /s/ Connie D. Tschetter Crook County Clerk
Publish in the Sundance Times, and Moorcroft Leader on October 18 and 25, 2012; and the Wyoming Pioneer on October 25, and November 1, 2012

$70 million about to be slapped on the table to build the mine. Permit to mine about to be granted. Source Materials Licence in the next 12 - 15 months. Producing yellowcake by 2014. Revenues from production will go into further Lance drilling and Karoo South Africa drilling and development. PEN is now morphing from the penny stock junior spec explorer into a major Uranium miner over the next few years. Exciting times ahead for this company.
 

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