PEN - Peninsula Energy

[hangseng]

Re: PEN - Peninsula Minerals

Extremely tight Bollinger bands are about to let fly here. About time too been holding half for 12 months now and topped up in the high 4cents last month. Have been very patient with this one looks like that patience is about to be rewarded.

All coming together now Mick, PEN is slowly but surely progressing. With the potential they have in uranium resource size and the inevitable increase in uranium price it isn't really surprising. My investment strategy is simple but effective and I am very patient, PEN is meeting my expectations.

By the way are you from Qld or is the qld something else?

 

[hangseng]

Re: PEN - Peninsula Minerals

All coming together now Mick, PEN is slowly but surely progressing. With the potential they have in uranium resource size and the inevitable increase in uranium price it isn't really surprising. My investment strategy is simple but effective and I am very patient, PEN is meeting my expectations.

By the way are you from Qld or is the qld something else?

Announcement out.

Discontinuation of the Tanzanian Gold JV due to poor results.

My simple summary of this is intially dissappointing the gold didn't eventuate in this JV but this can only be positive as they are focussing more on what they have termed "advanced Uranaium projects in Wyoming and South Africa"

I love that term "advanced", also used by Far East Capital in reference to the USA Wyoming Sundance project.

For me I take this as a positive move in recognising early that Tanzanian JV was not worth pursuing. Protection of valuable capital.

Let's see how this pans out now.

 

[Lucky_Country]

Re: PEN - Peninsula Minerals

PEN going no where doing nothing very frustrating.
Too many projects concentrate on sundance.
Really need some long overdue news imo

 

[hangseng]

Re: PEN - Peninsula Minerals

PEN going no where doing nothing very frustrating.
Too many projects concentrate on sundance.
Really need some long overdue news imo

That's exactly what they have stated and why I was positive about this announcement.

You are right, until positive news of Sundance and/or Sth Africa occurs on the Uranium focus it is unlikely to move a great deal. Raki Raki does seem positive but it will need to be good after this announcement to make a difference to the sp.

I do believe technical support ahs been found.

I await Wyoming.

 

[alankew]

Re: PEN - Peninsula Minerals

Hangseng my initial response was that it was dissappointing however on reflection I agree that ir is a positive step-cut your losses and move on to the next more promising project.Still think that initial response will be negative come Monday

 

[Georgeb]

Re: PEN - Peninsula Minerals

I am happy they have decided not to proceed with the JV gold project in Tanzania if the resource is small. It is better they have identified this early in the process rather than later.

This year has been a bad year for most Uranium stocks and PEN is no different. I hold and will continue to hold as we need to ride out the slump in this sector as the good times will be back in the nect 6-18 months.

I have no issue holding as I know in the long temr the Uranium sector will appreciate.

 

[hangseng]

Re: PEN - Peninsula Minerals

PEN held up very well today.

The market is in strife at present, however PEN remained strongly at support. It seems the market has supported the latest information otherwise it would have gone down accordingly.

Good to see.

 

[Nathan_b]

Re: PEN - Peninsula Minerals

i have been holding these fellas for a while now. got in at 9cents.

was thinking of flicking them as they are goig nowhere. just looking at the prospects of the business though it appears it is positioned well. now i was thinking perhaps purchasing another 2k or so at current SP.

how do we think this one will perform in 2008?

 

[hangseng]

Re: PEN - Peninsula Minerals

i have been holding these fellas for a while now. got in at 9cents.

was thinking of flicking them as they are goig nowhere. just looking at the prospects of the business though it appears it is positioned well. now i was thinking perhaps purchasing another 2k or so at current SP.

how do we think this one will perform in 2008?

I am confident PEN will perfom in 2008. They have accessed hard copy paper data of over 5,000,000 metres of drilling results previously conducted in addition to the leaseholds from Pacmag. They are currently processing this data into electronic form to proceed to Jorc compliance.

With this amount drilling previously conducted PEN won't have to spend expansive amounts to prove up the resource. Imagine what it would have cost to drill 5,000,000 metres in todays money.

Results of this according to PEN will be available in the 2nd quarter of 2008.

I would doubt you will ever get another chance to buy PEN at these prices once this data is out. Expect an update on this in Jan when the quarterly report comes out.

 

[hangseng]

Re: PEN - Peninsula Minerals

A list of historical mine locations in Oshoto and Sundance.

Remains to be seen what of these will be PEN's if any but interestingly PEN have a significant leases/land area in the region so it is highly probable that either some or all of these mines will/are PEN's.

 

[ideaforlife]

Re: PEN - Peninsula Minerals

Thanks for the research Hangseng, I almost contemplate of disposing it at a loss. . Now perhaps I'll buy bit more

 

[hangseng]

Re: PEN - Peninsula Minerals

Thanks for the research Hangseng, I almost contemplate of disposing it at a loss. . Now perhaps I'll buy bit more

All looks positive (apart from the sp) but take care. The current market conditions are not conducive to taking risks. I do like PEN but it is a speculative stock and speccies are clearly not in favour at present.

Risk/reward is high with PEN and the returns potentially very high on positive news of Wyoming (which I am convinced is coming), but not without risk in the current market.

Happy New Year my friend.

 

[Nathan_b]

Re: PEN - Peninsula Minerals

Looks like this dog keeps falling without any announcements.

Anyone have anymore thoughts out there?

 

[Georgeb]

Re: PEN - Peninsula Minerals

This has not moved up for at least 12months, in fact it has gone down. This is starting to remind me of AEX.

Can anyone see the light at the end of the tunnel?

 

[hangseng]

Re: PEN - Peninsula Minerals

It is very possible the tide is about to turn for PEN.

PEN has held strongly at 2c for some time and has now had almost 40 million shares traded in the last couple of trading days. Very strong buying at 3c and 3.1c.

A little speeding ticket to go with it today I see.

$7.9m cash, no debt and looking like heading to early production in the US. Let's see what the next report brings.

 

[mickqld]

Re: PEN - Peninsula Minerals

It is very possible the tide is about to turn for PEN.

PEN has held strongly at 2c for some time and has now had almost 40 million shares traded in the last couple of trading days. Very strong buying at 3c and 3.1c.

A little speeding ticket to go with it today I see.

$7.9m cash, no debt and looking like heading to early production in the US. Let's see what the next report brings.

It seems in the latest April report from Far East Capital they have re-rated PEN from "advanced explorer" to "potential producer". Thanks to DHUY on hotcopper for that information.
That may explain the sudden volume rise over the last couple of trading days. Hopefully happy days in Wyoming are ahead for PEN.

 

[hangseng]

Re: PEN - Peninsula Minerals

It seems in the latest April report from Far East Capital they have re-rated PEN from "advanced explorer" to "potential producer". Thanks to DHUY on hotcopper for that information.
That may explain the sudden volume rise over the last couple of trading days. Hopefully happy days in Wyoming are ahead for PEN.

It seems nobody has read the report. They definately should especially if PEN or AGS are on your radars.

The report on both of them is glowing to state the least.

 

[hangseng]

Re: PEN - Peninsula Minerals

This could have added to the sudden big move on PEN last week.

May 2, 2008
Investing in Uranium
Three Ways to Invest in Uranium Now, Before Prices "Go Nuclear"
An Investment U White Paper Report
By Mike Gimignani and the Investment U Research Team
http://www.investmentu.com/research/uranium-investing.html

 

[mickqld]

Re: PEN - Peninsula Minerals

Looks like we are the only ones bullish on PEN here Hangseng. Just loved the review from Far East Capital on PEN. Basically rating it their top bargain buy at the moment.
Quote.."If PEN can confirm that its Wyoming target is realistic, at a
minimum grade of 500 ppm, it could be sitting on a very profitable project."

and.."This is one of the best value uranium stocks, but there is a
higher risk as we are still awaiting the release on JORC compliant resources."
Just salivating at PEN's prospects at the moment just wish I had topped up more at the 2cent mark.

 

[hangseng]

Re: PEN - Peninsula Minerals

Looks like we are the only ones bullish on PEN here Hangseng. Just loved the review from Far East Capital on PEN. Basically rating it their top bargain buy at the moment.
Quote.."If PEN can confirm that its Wyoming target is realistic, at a
minimum grade of 500 ppm, it could be sitting on a very profitable project."

and.."This is one of the best value uranium stocks, but there is a
higher risk as we are still awaiting the release on JORC compliant resources."
Just salivating at PEN's prospects at the moment just wish I had topped up more at the 2cent mark.

Mick I believe the positive outlook for PEN and uranium generally in the report was the original reason for the significant increase in volume over a few days recently. I don't believe it will cease either, it only stalled once the rise caught the attention of the ASX with the speeding ticket.

I have topped up and now just wait for what I now believe is inevitable. Time will tell if I am right or not, however the risk/reward favours the positive side in a big way over medium term. All they have to do is announce the results of the historical data collation (which I believe is complete or near completion) and thereafter the Jorc results.

The delay in the drilling I think is understandable considering all they have now managed to successfully to aquire. They now not only posses the historical drilling data they also have the complete ISL plant design plans and the successful rehab closeout from the previous mining operation. The latter being imperative to successful environmental approvals, which now is a fait accompli IMO. My reasoning for this is that the USA wants more uranium and would rather have it mined and processed in the states.

The obvious world market shortage has begun, with India being the first to come and and admit same today. http://timesofindia.indiatimes.com/...as_hit_N-power_plants/articleshow/3008504.cms
Add China, South Africa and the USA into this mix and you have a major supply/demand problem about to occur.

Short term I can't see this level lasting long at all. PEN is extremely well positioned to take advantage of what is seemingly going to be a run on uranium (read 'energy') stocks, that are either in production or which are likely to head into early production (PEN). Stocks like PEN that have an extremely low sp, exceptional prospects, cash and no debt will be sought after when the market finaly wakes up. The U price will get some obvious upward pressure due to supply/demand.

Interesting times ahead, I am literally banking on them being highly profitable as well now.