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PEN - Peninsula Energy

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Re: PEN - Peninsula Minerals

mmmmining said:
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.
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I agree. Let's see both provide some analysis instead of vague claims against each others position. As I said, this is a two way street here. A forum for sharing information.
 
Re: PEN - Peninsula Minerals

kennas said:
I agree. Let's see both provide some analysis instead of vague claims against each others position. As I said, this is a two way street here. A forum for sharing information.
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This is fair. Based on my estimate, property in USA has minimum 5mlb. It is ISR type.
 
Re: PEN - Peninsula Minerals

Ok Kennas sorry for the late reply haven't been on the forum to much money to be made trading the U stocks. I wasn't having a go, however , like my other fellow forum friends have stated if you are basing your "statement" on an article or somthing point it out to us so we can substatiate your claims. From a analystical point of view it is interesting that it broke 11 cents yesturday to 11.5 cents and didn't go on from there this morning. May do somthing in the dutch auction tonight. It just reminds me of WMT when it was at a simillar price and did exactly what PEN did today, however closed lower, then the next day it went to 13- 14 cents. I am going to follow the 21,55 moving average on this one as if i did this with WMT I would still be in there today at 35 cents.
kind reg
ang
 
Re: PEN - Peninsula Minerals

Typical big 20% rise followed by a day 20% fall. how annoying, this share was looking so good.
 
Re: PEN - Peninsula Minerals

Just picked up 15000 shares at 10cents. They have got news about the USA acquisition. Hope to see these rise over next couple of weeks.
 
Re: PEN - Peninsula Minerals

Hi Fellow Traders

What's everybody's thought's on the share placement announced today and what impact will it have on the share price do you think?

Regards

Pennystock
 
Re: PEN - Peninsula Minerals

It can't be bad imo for 2 reasons:

1. new placement is created to acquire more assets with more potential income, so this is not a dilution as the higher number of shares come at a higher value of assets but after acquisition it will mean more potential. its totally different from a normal non-asset dilution because if more shares where issued to pay for expenses or for current project (not new ones) then usually that means lower value per share.

2. New placement is coming at a nice return, which will mean that whoever will take advanatage of it (whether shareholders or the so called sophisticated investors) will have great interest in increasing the share price or at least keeping it at a certain level to guarantee their profit. What also could be really interesting, if placement came at a certain ratio, for instance for each 10 shares held 1 x 6c could be bought, in that case, a race to get more of PEN's share will commence to get more of the cheap shares which will have to push SP higher.

Today's panic is expected & I find it normal, last 2 days had big number of punters working on the few hours/days trade to get easy money. Now, these guys panic easily & get whatever they can for their money on the first sign of danger, they didn't actually notice that the dilution means more assets not only more share & more potential....which in a perfect/non-traders world should increase SP because the more potential.

this one needs to relax for few days until more details of dates of EGM & placement come out then the heat will start.

DYL done it all in 48 hours into 3 folds on exactly same circumstances! I'm not saying they're the same, I'm just saying it can't be bad but we'll all find out how good it will be in the coming days.

cheers,
 
Re: PEN - Peninsula Minerals

The market depth on this one is so one-sided it's not funny. Unless massive parcels get purchased soon I see this share falling in the short term. There is no where near anough buyers out there at the present to push this share back up to .115.
 
Re: PEN - Peninsula Minerals

Hi all

Is the correction going on? Is the placement too small that can't meet the expectation of the market?
 
Re: PEN - Peninsula Minerals

They just released their notice of AGM for the 21st May at 1 pm in Perth. Seemed to be seeking approval for an awful lot of shares to be released on to the market. The one below and others
ordinary resolution:
“That, for the purposes of ASX Listing Rule 7.4 and for all other purposes,
Shareholders ratify the allotment and issue of 50,000,000 Shares at an issue price of 4.8 cents per Share pursuant to a placement (Placement) on the terms and conditions set out in the Explanatory Statement.”
 
Re: PEN - Peninsula Minerals

50million shares at 4.8cents... is this an indication to a price drop in PEN? It has been slowly falling the last week... does an influx of 50million shares at 1/2 the price of the stock now reduce the worth of the shares we hold?

I'm very new to trading and the stock market, so a lot of things are still very confusing!

Cheers
 
Re: PEN - Peninsula Minerals


The question you always need to ask is if issuing new shares for just spending on normal expenses or to get (acquire) new assets? In PEN's case, it's to acquire new assets.

In PEN's case imo, issuing shares is exactly the same like you borrowing money to buy a new business. Will you be richer or poorer if you decided to borrow money to buy a new business?? Definitely you'll have a loan on your back, but also you'll have a brand new source of income that is once acquired should make you richer.

That's only my opinion & pls DYOR.

cheers,
 
Re: PEN - Peninsula Minerals

Anyone care to do tech analysis of this stock..

It hasn't been doing much in the last few days..just dipping down a little bit.

Thanks
 
Re: PEN - Peninsula Minerals

thierry said:
Anyone care to do tech analysis of this stock..

It hasn't been doing much in the last few days..just dipping down a little bit.

Thanks
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Hi Thierry.

With PEN the breakout last time looked promising (big white candle) but the momentum could not be sustained. A weak opened the next day (gap down) basically killed the move.

What i usually do with these ones is buy a 1/2 parcel on the breakout and half after the bounce on the pullback.

What we like to see here is a breakout on volume, maybe 1-2 white candles to bring it to maybe 12-13c, but the pullback to hold 10.5-11. 10.5 especially looks to be strong resistance with this one.

If it consolidates a bit longer in the 9.5-10c region than could make for an ascending triangle, a powerful bullish pattern. In fact, some would argue the ascending triangle pattern is already in play. For reference, MPO recently broke out of an ascending triangle.

Charts attached.
 

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Re: PEN - Peninsula Minerals

Just waitng on the PMH deal too be done and dusted on 16 th then we will see some action.
Great company great future.
 
Re: PEN - Peninsula Minerals

Nizar,

Thanks for the tech anlaysis.. looks promising, and with the ann on the 16th.. should see some movement in the stock.. hopefully for the better
 
Re: PEN - Peninsula Minerals

Can anyone please do the TA for PEN? It seems that the SP has been down for quite some time and I think it will be heading north very soon. Just need to chart to confirm the entry price. They have pretty good fundamentals with lots of U projects going around. Should be a good one. SP may fliy like MLS soon I guess.
 
Re: PEN - Peninsula Minerals

Friday close chart. As Lucky_Country said when the PMH deal is done and dusted then maybe we will see some action. The support level was selected by the cat, Friday night ,it's his turn. I hope this helps I'm looking for an entry level ATM
Cheers
DYOR
 

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Re: PEN - Peninsula Minerals

Think the deal goes through next week by memorygreat tennament just a few too many shares for my liking.
Hoping Wyoming jorc is quick and easy maybe a deal with an opertating mill to treat PEN uranium good for cashflow and media too be up and running
 
Re: PEN - Peninsula Minerals

Might see some interesting movement with PEN over the next couple of days. Annual General Meeting is on Monday, where they will approve the PACMAG deal and the shareholder placement, one share for 10 held at 6cents, plus 1 free option for every 10 held, (ex price 10 cents, expiry June 2010).
 
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