PEN - Peninsula Energy

[hangseng]

Finally we are getting towards the end of the long wait for production. Todays ann. has not only announced a great reduction in CAPEX costs for the Lance project but also given dates for the final SEIS (31 Jan 2014) and the SML (3 March 2014). Finance should be decided before end of year as they announced they will receive several submissions for finance by October 2013. Great to see the savings they are making with their Well field optimisation by not having to drill as many production well holes and only having to have 2 prodution plants not 3 until 2020 to get the same volume of production.
http://www.asx.com.au/asxpdf/20130909/pdf/42j7lh9lfgjq40.pdf

Hi Mick,
Been a very long haul to this point but good to see it finally coming to fruition. Not over yet with a few hurdles in the way, but as you point out is a positive to take away. Clear the hearing, finance and a rise in the U price should (and I say SHOULD) clear the way for a sizeable sp increase next year.

In this market though who really knows, stocks with b'all but a few positive rock chip samples or drill results bought up (for a short while anyway), and others now producing getting sold down.

It will be interesting to see the markets reaction, if any, to the positives with PEN later this year and early next.

 

[didier85]

Capital raising.... back to the old dilution progress.

Heres hoping it comes with some impressive news!

 

[Paavfc]

Capital raising.... back to the old dilution progress.

Heres hoping it comes with some impressive news!

Will we ever get back to that 15c mark, thats when I should have bailed !!!
This next dilution could be 1 billion shares imo....

 

[Boggo]

Will we ever get back to that 15c mark, thats when I should have bailed !!!
This next dilution could be 1 billion shares imo....

Interesting depth at the moment !
I have seen situations such as this turn around after it opens but there seems to be a few wanting out for now.

 

[Country Lad]

Interesting depth at the moment !
I have seen situations such as this turn around after it opens but there seems to be a few wanting out for now.

Always looks good when you have a heap more on one side than the other, Boggo and as you say, it will change at open. Most of the bids and offers are irrelevant of course. It is a bit like going to an auction where the current bid is $2 and you bid $1.50.

Take for example the 1.1 and 1.5 cents on the buy side and the 18.5 and 15.5 cents on the sell side. These make no contribution to the auction at all.

Whenever looking at the depth, I ignore anything more than 20% away from the last price as being irrelevant to the market action or sentiment.

Cheers
Country Lad

 

[Karlos68]

Flip, PEN hit its lowest Share Price late June 2013 since the lows of GFC. Now who would of thought last year that would have been possible?

Love PEN. Full of repetitive movements.
Have picked up a pattern beginning 2008/2009. Approx 9 month divisions showing significant lows. Even divided to 4.5 month spaces shows lows.
As Fib Fan broadens, time increases to reach high and low trendlines.
With combination of broadening fan and 9 month divisions....My forward prediction is a dip in Feb 2013 and final low for this cycle in June/July 2013.

View attachment 50163

Oh that's right.....I did:guitar:

 

[Karlos68]

Oops.......just realized the chart misses the last few months....my final 9 month division on chart shows the 2.2 low..................... before the pump to 3.3 cent then fall to actual low at 2.1 which is end of June and exactly 9 months since previous low

 

[Karlos68]

...no cycles to counter here...no support until $20

View attachment 53423

Chart caught my interest Dengo. Thank you for taking the time to share with members of Aussie Stock Forums.
I do however diverge on your thought that a cycle is not in place simply due to my own efforts in sharing my charts on PEN. Would you care to update your interpretations of the U chart

 

[didier85]

So... speculation on what the capital raising deal will be for next week?

They've suspended the stock and wiped all market depth (cost me 2 sets of partially unfilled brokerage... ) so lets hope its going to move the price one way or another...

 

[didier85]

ok, now is the 3rd call for delay...!

is this likely a huge announcement?! (eg. they got the government loan to develop a mine in USA...?)
or more procrastination (doesnt seem like would be)?

 

[Jewels]

Found this article on Bloomberg, quoting from "The Australian"
Whilst not specific to PEN, I feel that it gives a good run down of the current U308 market, and possibly a glimpse into the short term future for the the price.
One question though, with todays announcement re Blackrock, does anyone know if the entire contract renegotiated, including the price paid per pound?
If Gus and the crew have managed to keep the $70/lb, (from memory), sale price, then surely this is a master stroke.
Re the article though, I think that the statement re deaths due to radiation exposure in hospitals being greater than the number of deaths caused by Fukishima and Chernoble is utter nonsense. A bit like saying "show me one death certificate that lists the cause of death as smoking"
Ciao Jewels.

October 14, 2013 12:00AM Source: TheAustralian
IT has been suggested that the new fracking boom will deliver such a bounty of cheap gas that nuclear power will be doomed, and that government support for renewables will deliver a coup de grace to nuclear's ambitions. These suggestions are usually accompanied by scaremongering about safety, implying it would be a good idea if nuclear was to be swiftly dispatched by these alternatives.Cheap gas means that new nuclear power supplies are unlikely to be competitive in the US market. However, it is simply wrong to draw the implication that nuclear power will therefore be phased out.Reactors are characterised by large upfront capital costs followed by very low marginal operating costs. So while you wouldn't want to build any new ones in the face of cheap gas, you would continue to operate the old ones for as long as you could.That is what is likely to happen.Moreover, the economics are different in China, where cheap gas is not likely to be available and the capital costs of reactors are significantly lower, making nuclear the cheapest option. Although renewables share a low carbon footprint with nuclear power, they are not only more expensive but they are not available on demand. On a cold, calm winter's night, they provide zero power.Nuclear remains the only viable option for zero-emission baseload power.Again, China provides the best example: there, wind power exhibits less than 20 per cent capacity utilisation, making the real cost very expensive.There is little recognition of the huge strides made in designing inherently safer reactors.The three widely quoted disasters -- Three Mile Island, Chernobyl and Fukushima -- were all second-generation reactors.All new reactors will be third-generation or higher. It is a bit like criticising Boeing's Dreamliner on the basis of the De Havilland Comet's safety record. Some perspective on associated fatalities is also required.Direct deaths from radiation exposure at nuclear-reactor accidents globally probably only amount to about 65 people; no one died in the Three Mile Island accident; and no one has yet died as a result of exposure at Fukushima.More people have died as a result of exposure to excess radiation in hospitals.The huge numbers attributed to nuclear accidents simply assumes that very low-level exposure spread across a large population results in a significant number of cancer cases -- a claim for which there is no evidence.Uranium spruikers have been talking up its prospects for almost two years, all while the price has steadily declined.However, the cynics that do their forecasting with a rearview mirror and a ruler, and see no recovery in sight, are likely to be proved just as wrong.With the spot price languishing around US$35/lb, new supply simply won't be forthcoming, regardless of new "discoveries".On the demand side, 70 new reactors are under construction. Every new reactor requires about three years of fuel to fill the core for the first time and more as stock for enrichment and fuel-rod fabrication.In other words, there is a wave of demand coming, mostly from China, and the rearview mirror experts will miss it, just like they missed the beginning of the iron ore boom 10 years ago.The impact of temporary and permanent reactor closures in Japan and Germany after Fukushima was the equivalent of cutting global demand for uranium by 14 per cent.The megatons to megawatts program, which has already made its last shipment, is likely to reduce supply by a little less than 10 per cent, which will not be enough to bring the market back into balance.However, add into the mix Japanese reactor restarts, which will commence gradually next year, and the impact of stock building for start-ups, and the expectation is for aggregate undersupply next year.The key unknown factor is the extent of existing physical uranium stocks and the behaviour of their holders when the market tightens.Distressed stockholders -- such as Japanese utilities -- may decide to unwind excessive debt by selling stock as the market improves, but as soon as prices show sustained upward momentum, stocks held become a good investment.Those who say that uranium prices could never double clearly don't remember what happened in iron ore; prices effectively doubled between 2004 and 2006 and then kept on rising, despite the pundits claiming that it couldn't last.The same fundamental drivers characterise the uranium market, with inexorably rising demand from China coming up against excessively long lead times on the supply side.The difference is that, unlike steel manufacturers, who were price sensitive, reactor operators are not because uranium is only a small fraction of their costs, and that is why the uranium market will be "iron ore on steroids".Julian Tapp is chief executive of Energy and Minerals Australia, a uranium development company. He was formerly head of government relations and then director of strategy at Fortescue Metals Group, and before that was an economist with BAE Systems, BP and Ford.
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See more at: http://www.theaustralian.com.au/bus...y-e6frg9if-1226739255591#sthash.qDlcun66.dpuf

 

[didier85]

Forking heck! wish I could get half a free PENOC for every PEN share I buy... baskets to loyal shareholders again!

 

[carolz]

Forking heck! wish I could get half a free PENOC for every PEN share I buy... baskets to loyal shareholders again!

So why didnt they put forward this offer to shareholders...........you do have to wonder about loyalty sometimes.

 

[Garpal Gumnut]

I am concerned why anyone would trade PEN when one can have so much better fun with PENOC.

gg

 

[tutes]

I am concerned why anyone would trade PEN when one can have so much better fun with PENOC.

gg

Hi, I currently own PEN but looking at PENOC.

Can someone please answer (probably a silly question): If I buy PENOC at $0.011, is this the price I have to pay to convert them to PEN shares? ie. will I need to pay $0.011 to convert one PENOC to one PEN share? Or is the strike price $0.03 and that is what I'll have to pay to convert?

Also, can I convert PENOC to PEN any time (as long as it doesn't expire) I like?

Thanks! =)

 

[carolz]

you pay 3 cents to convert anytime prior to expiry...2015

 

[tutes]

Thanx Carolz! =)

 

[dengo]

Bearish symmetrical triangle break-out
Measured move target = 1.5c

 

[Karlos68]

Bearish symmetrical triangle break-out
Measured move target = 1.5c

View attachment 54810

Maybe Dengo, looking at my downtrend line touching the lower highs, could be on the cards to play to your expectation.



My Fib Fan chart has been playing ball so I feel more likely a rally is coming with the high touching the 23.6% trendline

Watch this spacecorn:

 

[Country Lad]

before the pump to 3.3 cent then fall to actual low at 2.1 which is end of June and exactly 9 months since previous low

And all the discussion that has gone on in the meantime how good the company is, how the share price will rise, how the share price will fall, all the 170 odd posts appear to have concentrated everybody's mind on this dud and ignored other U companies whose share price have a higher chance of rising.

I know very little about uranium companies, but it is interesting to me that there is so much talk about a U company whose price is going nowhere and not much about others, for example the one that has gone from 2.8 cents, around where PEN is/was to 7.7 cents (175%) over the last 25 trading days and has a more positive share chart and nearly 5 times the buys than sells on Friday.

Is it called taking the eye off the ball?

Cheers
Country Lad

NB Yes, i am having a friendly dig so don't take it too seriously. Keep concentrating on PEN and let us others quietly make money on other U shares.