Garpal Gumnut
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Join a very, very, very long queue @Telamelo , over many, many, many years.
The pied piper of Hamelin ain't got nothing on good ole PEN for dragging people in.
gg
PEN - Peninsula Energy
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The pied piper of Hamelin ain't got nothing on good ole PEN for dragging people in.
gg
11/08/2020 PEN has completed the laboratory phase of optimisation work at its Lance Uranium Project in the USA with a second low-PH field demonstration underway to confirm laboratory results at a near to commercial scale.
This work continues pre-development activities at the Wyoming project, which is transitioning to a low pH ISR process.
Over the next 12 to 18 months, Peninsula will focus on key site-specific technical process development and optimisation activities to fully prepare Lance as the only commercial low pH InSitu (ISR) operation in the US.
The company is well funded to advance Lance with a cash holding of approximately US$12 million at June 30, 2020, no term debt and forecast net cash margins of between US$6 million and US$8 million for 2021 from its uranium sales contract book.
Managing director and CEO Wayne Heili said: “Developments in the uranium market have been highlighted by limited global production and restraint of mid to long term purchasing activities by end-users, which indicates a strong likelihood of increasing price and purchasing activity over the coming months and years.
“Peninsula will use its strong balance sheet to sensibly progress Lance with the advantage of knowing that if markets warrant, we could make an investment decision in parallel to the optimisation workstreams and be in commercial production within a six-month timeframe.
“The US domestic uranium industry needs to focus on innovative means to economically produce uranium for the domestic and global nuclear fuel markets.
“We believe that the test programs we have designed and will conduct over the coming 12 to 18 months will generate long term value and benefits for our Project and for our shareholders.”
To further investigate the use of low pH lixiviates (ISR leach solutions), Strata collected fresh core samples from an area that had not been impacted by alkaline ISR production operations (now the MU1A area).
Side by side columns were prepared to explore differences in ‘soft’ (slow) and ‘hard’ (rapid) start-up acidification procedures and the subsequent acid requirements.
Care was taken to ensure core was not unnecessarily exposed to the atmosphere during preparation of the test columns.
While the 'hard' acidification procedure, the standard process in all prior testing, delivered better results, neither column generated results that were comparable to previous column tests.
A hypothesis was developed that the introduction of an oxidant may be necessary to effect rapid uranium dissolution when the mineral is not previously oxidised by alkaline mining.
There was an immediate positive response as the uranium grade quadrupled.
License amendment applications are being prepared for the use of oxidants with the low-pH ISR process and for the use of the ponds for solids management in future operations.
Current licences and permits for Lance allow use of oxidants and the ponds during the limited scale field demonstration without amendments.
Peninsula Energy can also begin low-pH operations without these process enhancements, which were not described in the original low-pH amendment approvals.
Starting in previously mined areas where oxidant is not necessary will allow time for the completion of the desired licence amendments prior to commencing production activities in new mining units.
The company expects completion of these identified licence amendment activities by mid to late 2021.
---Above excerpt article taken from Proactive Investors
Garpal Gumnut
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Interestingly, the 1 yr PEN candlestick chart shows a big 'open gap' between .088c and .108c that sooner or later may/should get filled! imo
It's flagship Lance uranium project in Wyoming, has the largest defined US in-situ resource of 53.6mlb and is the only project permitted to use low pH in-situ recovery.
With processing and well field production facilities already in place, Peninsula can bring the project back into production within six months of a restart decision.
The company is already contracted to deliver 450,000 pounds of U3O8 per year in 2021 to 2022 and has five sales agreements in place with major US and European utilities for up to 5.5 million pounds U308 at a weighted average sales price of between US$51 and US$53 per pound U308 through to 2030.
Uranium prices have climbed sharply this year, up more than 33 per cent since January to the current price of $US32.95 a pound.
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Garpal Gumnut
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OK @Telamelo
I'll go along with you on PEN as long as you do not mention the following words in any of your posts on PEN in ASF : processing, production, project, restart, decision, contracted, sales, agreements, million (or any multiple of), pounds, U308, any year between 2000 and 2100, Wyoming, Lance and Uranium.
PEN is a flea ridden dawg and I have had migraines skipping past announcements and comment containing the drivel words published in the previous paragraph in the past. So many forests and hard drives have been destroyed on fundamental analysis of PEN. Beware if you should follow in the path of loons and paupers.
Let us follow the trend and see what happens.
gg
I love "unloved rock bottom stocks" as once the tide begins to turn (noting recent PEN announcements since July '20) can potentially deliver exponential/parabolic returns going forward. Very minimal downside risk but with tremendous upside potential imo
Garpal Gumnut
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It will be a fun ride.
My expectation is that you will not use subterfuge such as '20 for 2020 to circumvent my reasonable request that you use no recycled fundamental language as posted above.
gg
Garpal Gumnut
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So you are now set in PEN. Well done. Valour does sometimes reward those who catch a tide.
I enclose a chart to give you some heart and also to think on. It is a ten year monthly chart showing PEN in a continual downward path from highs of $5 back in 2011, to today. It finished I believe at 0.069.
There has certainly been huge volume these last few months. 200 million shares were traded in July, just one month ago, so there will be plenty for sale. Should you be correct there will be millions to buy over the next few days, weeks and months. But not at 0.069.
If your hope is fulfilled you will have multiplied your stake by 72.5 times when it gets back to $5.
Also remember it is a share, not a lover. If you want love, buy a dog, not PEN. It is also not a part of you and you are not a member of the board so don't over-identify with it e.g. by using the word "we" as many PEN holders have in the past.
Having said all that I really do wish you well and, although not as pleased as you, I will be happy if your hunch and analysis is correct.
gg
Thanks GG on a great post! double thumbs up!
Am well aware of the history of PEN but am pleased to be set @ .067c average (so am in the money already lol) but seriously, don't have in mind like a $5 target or anything like that... let's just see what happens anyway over the coming year or two (for starter's). Cheers tela
Am well aware of the history of PEN but am pleased to be set @ .067c average (so am in the money already lol) but seriously, don't have in mind like a $5 target or anything like that... let's just see what happens anyway over the coming year or two (for starter's). Cheers tela
PEN closed @ .071c 
eyeing juicy "open gap" on chart between .09 and .11c to fill (sooner or later)
MorningstarTM Quantitative
11 Aug 2020
More details about Morning Star Quantitative
Undervalued
Fair value $0.12c
3 out of 5 star(s) rating
Consensus
11 Aug 2020
More details about Morning Star Consensus
Strong Buy
1 Strong Buy
eyeing juicy "open gap" on chart between .09 and .11c to fill (sooner or later)MorningstarTM Quantitative
11 Aug 2020
More details about Morning Star Quantitative
Undervalued
Fair value $0.12c
3 out of 5 star(s) rating
Consensus
11 Aug 2020
More details about Morning Star Consensus
Strong Buy
1 Strong Buy
Garpal Gumnut
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PEN closed @ .071c
MorningstarTM Quantitative
11 Aug 2020
More details about Morning Star Quantitative
Undervalued
Fair value $0.12c
3 out of 5 star(s) rating
Consensus
11 Aug 2020
More details about Morning Star Consensus
Strong Buy
1 Strong Buy
It's certainly a good start for your investment in PEN, @Telamelo .
Let us know how you go by posting your thoughts and research on PEN and the chart, and not the PEN board's nor outfits like Morningstar "feeding the chooks" stuff, that they put out from time to time when the price falters.
Remember that you will never be able to whisper in PEN's ear, "I suppose a root would not be out of the question". It's a means to an end and not an end in itself.
gg
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GG your excitement re PEN is underwhelming.
Dare I mention that there's a nice looking BO setup forming on the chart.
Dare I mention that there's a nice looking BO setup forming on the chart.
Thanks for posting PEN chart (appreciate it). Perhaps soaking/accumulation almost finished @ .071/.072c ? so then "coil can spring into action"!
Uranium turning the corner..
U.S. legislation on the table to reduce foreign dependency
As the US struggles to finalize their new uranium funding to build a significant US uranium reserve using the previously announced US$150 million U.S. uranium reserve program, two new Acts have recently gone to US legislators.On July 29, 2020, legislation was introduced in the House of Representatives by Representatives Cheney and Latta to establish a National Uranium Reserve. Then on July 30, 2020, U.S. Senator Barrasso, Chairman of the Senate Committee on Environment and Public Works, introduced the American Nuclear Infrastructure Act of 2020. Among other items, it includes the authorization to create a uranium reserve to fuel America’s nuclear reactors with domestic fuel and bolster America’s uranium industry.The last 4 years of low uranium prices has led to significant uranium supply destruction to the point where demand for new uranium will likely put a floor on uranium prices and keep them from falling back again. The uranium miners who survived stand to benefit as the cycle turns positive.
“In July 2020, Energy Secretary Brouillette told the House Energy and Commerce Subcommittee on Energy that DOE is working to end U.S. reliance on Russia for nuclear fuel. DOE wants to process American-sourced uranium into high-grade fuel at the DOE facility in Portsmouth, Ohio next year. Centrifuges have been moved from DOE’s Oak Ridge laboratories to Portsmouth. Additionally, DOE is working with lawmakers to authorize the creation of the uranium reserve.”
The US uranium miners can see the light at the end of the tunnel, even if they are not there yet. The US government continues to progress – if slowly – towards establishing a secure uranium supply. Two new Acts have helped build pressure on the U.S. House Committee on Appropriations who are yet to allocate the Department of Energy’s previously recommended US$150m of funds.Meanwhile the global uranium supply destruction has pushed uranium prices higher, and in time the US government will surely finalize and release the funding for the proposed US uranium reserve. Just remember, patience is a virtue.
U.S. legislation on the table to reduce foreign dependency
As the US struggles to finalize their new uranium funding to build a significant US uranium reserve using the previously announced US$150 million U.S. uranium reserve program, two new Acts have recently gone to US legislators.On July 29, 2020, legislation was introduced in the House of Representatives by Representatives Cheney and Latta to establish a National Uranium Reserve. Then on July 30, 2020, U.S. Senator Barrasso, Chairman of the Senate Committee on Environment and Public Works, introduced the American Nuclear Infrastructure Act of 2020. Among other items, it includes the authorization to create a uranium reserve to fuel America’s nuclear reactors with domestic fuel and bolster America’s uranium industry.The last 4 years of low uranium prices has led to significant uranium supply destruction to the point where demand for new uranium will likely put a floor on uranium prices and keep them from falling back again. The uranium miners who survived stand to benefit as the cycle turns positive.
“In July 2020, Energy Secretary Brouillette told the House Energy and Commerce Subcommittee on Energy that DOE is working to end U.S. reliance on Russia for nuclear fuel. DOE wants to process American-sourced uranium into high-grade fuel at the DOE facility in Portsmouth, Ohio next year. Centrifuges have been moved from DOE’s Oak Ridge laboratories to Portsmouth. Additionally, DOE is working with lawmakers to authorize the creation of the uranium reserve.”
The US uranium miners can see the light at the end of the tunnel, even if they are not there yet. The US government continues to progress – if slowly – towards establishing a secure uranium supply. Two new Acts have helped build pressure on the U.S. House Committee on Appropriations who are yet to allocate the Department of Energy’s previously recommended US$150m of funds.Meanwhile the global uranium supply destruction has pushed uranium prices higher, and in time the US government will surely finalize and release the funding for the proposed US uranium reserve. Just remember, patience is a virtue.
Garpal Gumnut
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@Telamelo
I've got a Fibonacci retracement chart for you on recent PEN action.
Selling a few million after your gap closes would enable the rest of your buy to "run free".
All the best for you in PEN.
gg
I've got a Fibonacci retracement chart for you on recent PEN action.
Selling a few million after your gap closes would enable the rest of your buy to "run free".
gg
Thanks very much GG .. Excellent work!
Appreciate it. Looks promising this morning with a couple of decent bids in @ 0.073/0.074c already.Cheers tela
Garpal Gumnut
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As well as charting it may be worthwhile seeing the average time between ASX announcements and also issuance and exercise of executive options going back over the years.
With this outfit there is some correlation between that and price rises and falls.
gg
