PEN - Peninsula Energy

[Ruprect]

Re: PEN - Peninsula Minerals

Announcement out regarding presentation at the Extraordianry General meeting today. Gives a good breakdown of the projects and JV's Pen are involved with. Most importantly at this stage the aquisition of the prospective Uranium sites in Wyoming,USA.

Also confirms the share placement, 1 for 10 held at 6c and free options, 2010 expiry. Not a bad discount to the share price, but unsure yet when the cutoff will be.

Decent although not huge volume so far today, up to 8.9cents, hit a high of 9.2c.

 

[Nathan_b]

Re: PEN - Peninsula Minerals

Jeu every1, just thought id ask a (simple) question. i have recently aquired a parcel of PEN 6-8 weeks ago. i noticed talk that the shares are being diluted or bring out more shares at 6c per 10 owned, how do i get my shares? what is the process? also what is the free option they have?

thanks for your help.
btw this was my first share purchase.

 

[Ruprect]

Re: PEN - Peninsula Minerals

Jeu every1, just thought id ask a (simple) question. i have recently aquired a parcel of PEN 6-8 weeks ago. i noticed talk that the shares are being diluted or bring out more shares at 6c per 10 owned, how do i get my shares? what is the process? also what is the free option they have?

thanks for your help.
btw this was my first share purchase.

Hi Nathan

Its a share placement to continue exploration, so while its a dilution, its postive imo.

They should announce the placement shortly, which will say basicly that those who are registered shareholders as of a certain date will be able to participate in the offer. The date will be in the future, so you will be sent a form which will give you the right to purchase. You just send them back a cheque or bpay it, and that should be it. Its probably likely that you will be able to apply for more than your entitlement (1 for 10), if there is any shortfall.

The option will be the same, 1 for 10, giving you the right to purchase a PEN share for 10 cents for every option held, before 2010. That should be tradeable on market a few weeks after the new shares have been issued i think. Therefore, while you are getting value by buying a share in PEN at a discount to its current price, you will also get an option which will have value on the market. Im not going to predict a price for the options, but if pen holds firm in the 8-10cent range, an option in the 1-2 cent range wouldnt be surprising. Thats just based on similar options with similar expiry dates.

Hope this helps.

 

[Nathan_b]

Re: PEN - Peninsula Minerals

Hey Ruprect,

Thankyou for your great response. How would i register with the company?

regards nathan

 

[Ruprect]

Re: PEN - Peninsula Minerals

No probs Nathan.

As a holder you should already be registered. That happens a few days after you purchase the share.

I'll personally be looking forward to getting some more options on the market. I think the latest aquisitions are extremely positive for this company.

 

[ctlaltdelesc]

Re: PEN - Peninsula Minerals

I am thinking to buy PEN. What is a good price for this share?
Maybe just wait until this turn around.
ANyone know why keep dropping recently?

 

[Sean K]

Re: PEN - Peninsula Minerals

I am thinking to buy PEN. What is a good price for this share?
Maybe just wait until this turn around.
ANyone know why keep dropping recently?

This has trippled in the past 6 months, so it's not really dropping 'recently' depending on your time frame. If you have a one month time frame then yes it's dropped a little from it's high of 11 cents. Still, not much in the scheme of things. Perhaps you should have a look back through their anns and see why it rose in the first place and if there's been any new info, or a lack of info. Perhaps it was just day traders driving the stock and they've all moved to something else....Tell me, why are you interested in PEN? Cheers, kennas

 

[Tye]

Re: PEN - Peninsula Minerals

PEN: may be having some large "corporate" buying come into play. This is from a technical perspective. But if i am right we may see a large bullish move within the next month.

 

[Ruprect]

Re: PEN - Peninsula Minerals

Annoucement out last night re offering to holders. 1 for 10 shares held can be purchased at 6cents, plus one free option, ex 2010, 10c.

Holders must be registered as of next thursday, but goes ex entitlement as of today. Ie, if you want in, you must purchase by close today.

Currently trading in the mid .08's, so its quite a discount. The option is also quite attractive.

 

[vvguru]

Re: PEN - Peninsula Minerals

Annoucement out last night re offering to holders. 1 for 10 shares held can be purchased at 6cents, plus one free option, ex 2010, 10c.

Holders must be registered as of next thursday, but goes ex entitlement as of today. Ie, if you want in, you must purchase by close today.

Currently trading in the mid .08's, so its quite a discount. The option is also quite attractive.

thanks Ruprect.

min subcription $3,000,000, whats that supposed to mean? i got 100,000 shares, will i miss out on this?
and how can i get myself registered? Will computershare post me a mail to remind me etc...?

cheers.

 

[j4mesa]

Re: PEN - Peninsula Minerals

thanks Ruprect. min subcription 3,000,000 shares i only got 100,000 shares, does that mean i have to miss out on this? and how can i get myself registered?
Will computershare post me a mail to remind me etc...?

cheers.

briefly looking at the ann. it seems that we do not need 3 million to have the entitlement, could not see it though....I might be wrong

 

[camaybay]

Re: PEN - Peninsula Minerals

Copy of ann for info. hold and hope that this entry to U will generate increased action. If it does then definately worth take up. I hope there is an application form for short fall take up.
DYOR
(Do Your Own Research) = disclaimer: for the FNT thread (holder)

 

[Tye]

Re: PEN - Peninsula Minerals

what a dog of a share. If it cant take advantege of a booming industry what chance does this piece of @$%! have.

 

[Ruprect]

Re: PEN - Peninsula Minerals

what a dog of a share. If it cant take advantege of a booming industry what chance does this piece of @$%! have.

Tye, it went ex entitlement as of last Thursday. Ability for holders at that date to buy in 1 for 10 shares held for 6 cents, plus 1 free option for 10 shares held. A pullback in the short term after that is to be expected. If the fundamentals are ok, (and i think they are) then it should recover. Keep in mind that the new share offer is to fund exploration of their uranium sites, primarily in Wyoming.

It was trading in the 2-3c range last november, a 7.6c share price isnt too bad!

 

[Tye]

Re: PEN - Peninsula Minerals

let's hope so. the problem i see at the moment is pretty much all the uranium and possible uranium shares are falling now. It looks like they are all getting to expensive. I was just venting as i hold a few U shares.

 

[Nathan_b]

Re: PEN - Peninsula Minerals

Hey everyone...
looks like this lil feller is going for a runner again. everyone must be getting in to try and get their free options and cheap new issues....

 

[PureCoco]

Re: PEN - Peninsula Minerals

Finishing the day with a positive 9.1 cents. Agree many increasing their shares to receive the entitlements.

 

[sting]

Re: PEN - Peninsula Minerals

If they bought today for the entitlements then they are sadly mislead the EX date was 07 JUN 07, after this date you dont get anything.

So bad luck to those who read and acted upon the above advise.

SEMPER UBI SUB UBI

 

[PureCoco]

Re: PEN - Peninsula Minerals

Just wanted to quote from the letter in my hand

Notice in relation to Entitlement Issue despatched to Shareholders 6 June
Securities quoted Ex entitlement 7 June
Record date for determining entitlements 14 June
Prospectus despatched to Shareholders 20 June
Closing date of Offer 5 July
Allotment and despatch of holding statements 12 July

 

[PureCoco]

Re: PEN - Peninsula Minerals

One other quote from the 6th June Letter.

"...a non-renounceable entitlement issue of one (1) fully paid ordinary Share with one (1) free attaching Option for every ten (10) Shares held by Shareholders registered at 5.00pm, (WST) on 14 June 2007 at an issue price of 6 cents per Share ("Entitlement Issue"). The options are exercisable at 10 cents per option on or before 30 June 2010."

Hope this clears up a few things.