Garpal Gumnut
Ross Island Hotel
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PEN - Peninsula Energy
- Thread starter dingos
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Thanks GG.
Yes, @Telamelo you can't do that. If you agree with the opinion that the chart setup does look good and you want to post the idea elsewhere then you need to post your own chart not someone else's.
My chart included a comment about PEN that may or may not be correct (No debt). Comments like these are personal opinions not facts. I'd like an apology please.
Yes, @Telamelo you can't do that. If you agree with the opinion that the chart setup does look good and you want to post the idea elsewhere then you need to post your own chart not someone else's.
My chart included a comment about PEN that may or may not be correct (No debt). Comments like these are personal opinions not facts. I'd like an apology please.
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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"They said, with manners like that, he wasn't fit to eat with pigs; but I stood up for him and said he was!"
Sorry as didn't know - apologies to everyone concerned (moreso to you @peter2 ) It won't happen again. Sorry if I offended anyone.
P.S. Over the many year's posting, have never been bad mouthed/called name's/put on ignore by anyone - ever.
So it's terribly disappointing indeed
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@Telamelo Thank you.
PEN has broken out and traded above 0.070. However there is still enough supply to force price back down to 0.070 (today's price action). Price can't go higher until this supply is overrun or it is withdrawn.
There's a very long road ahead for PEN as it considers developing it's uranium resource. They've got to make a convincing case in order to get the huge financial support that a project of this size requires. Price will jump up and down in response to news of any progress or lack of it.
Watching the course of sales and the transient market depth closely won't help contain your emotions. I have noticed that trades work better when I'm not watching them. For me, this is one of a hundred trades that I'll take this year. I'll either make a profit or a loss, then I'll find another opportunity.
PEN has broken out and traded above 0.070. However there is still enough supply to force price back down to 0.070 (today's price action). Price can't go higher until this supply is overrun or it is withdrawn.
There's a very long road ahead for PEN as it considers developing it's uranium resource. They've got to make a convincing case in order to get the huge financial support that a project of this size requires. Price will jump up and down in response to news of any progress or lack of it.
Watching the course of sales and the transient market depth closely won't help contain your emotions. I have noticed that trades work better when I'm not watching them. For me, this is one of a hundred trades that I'll take this year. I'll either make a profit or a loss, then I'll find another opportunity.
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Can I interject and suggest you re-read the forum rules @Telamelo
Take it on the chin.
The learned colleagues have said their bit and we have all been young once.... perhaps too many forgotten moons ago, for some.
FWIW, the exuberance (frequency) of posting on particular stocks could be interpreted as ramping. Something I try to remember... (have a look at the BUD thread...
)
There's obvious excitement in your posts, which, probably exhibits levels of emotions which probably doesn't help in trading either.
I wish you well.
Cheers.
PS, I felt dirty after visiting HC... so I don't do it.
Take it on the chin.
The learned colleagues have said their bit and we have all been young once.... perhaps too many forgotten moons ago, for some.
FWIW, the exuberance (frequency) of posting on particular stocks could be interpreted as ramping. Something I try to remember... (have a look at the BUD thread...
)There's obvious excitement in your posts, which, probably exhibits levels of emotions which probably doesn't help in trading either.
I wish you well.
Cheers.
PS, I felt dirty after visiting HC...
so I don't do it.Thanks @peter2 for your reply, insight/analysis as think you're spot on about supply/over hang present based on today's price action/close.
For those interested in fundamentals.. below is a recap/summary of today's PEN presentation:
Peninsula Energy is confident of the rapid restart potential of its Lance Uranium Project in Wyoming, USA, utilising the low pH extraction process.
The company is debt-free and well-funded with over US$10 million in cash and has identified a low-capital pathway to restart the project following the final investment decision (FID).
The Lance Project is one of the largest uranium projects in the US in size and scale with a JORC resource base of 53.6 million pounds and a licence to produce up to 3 million pounds per annum.
However, the project is currently paused as it transitions to a low pH extraction process which will allow it to become a low-cost, long-life uranium operation.
Low pH process
Historically US uranium ISR projects utilised the alkaline extraction method, which Lance was originally licensed for, but laboratory testing in 2017 proved operational costs and production rates at the project would significantly benefit from a low pH process.
The lowest quartile cast cosh uranium mines are all low pH ISR and Lance is the only US-based uranium project authorised to use this method.
PEN's expected transition capex is around US$6 million and a further US$15 million to construct mine unit 3 and ramp-up to stage one (plant capacity of the project is 1.15 million pounds at an AISC of US$41/pound).
Stage two of the project consists of 2.3 million pounds per annum at a capex of US$43 million and AISC of US$31/pound.
Technical optimisation
For the near term, the company is focused on demonstrating process improvements and delivering long-term value at the low pH ISR Lance Project.
A drill rig is currently on-site to complete remaining wellfield activity required for new field demonstration and a further round of column leach tests are planned to further optimise the transition process.
The company estimates a six-month lead time to return to production, post a final investment decision.
Peninsula believes that, if the markets warrant, the restart FID decision can be made in parallel to optimisation activities.
The project has a well-defined pathway to production.
Established uranium relationships The company has an established uranium contract book expected to generate a CY21 net cash margin of US$6-8 million, backed with binding purchase agreement to procure 400,000 pounds.
This positions Peninsula as the only junior uranium producer with long-term sales contracts extending to 2030, representing around 20% of the projected Lance FS LOM production.
In addition, there are current contracts in place for up to 5.5 million pounds at US$51-$53/pound with major utilities across both the US and Europe including:
75,000 pounds of remaining deliveries in CY2020 to be met from contracted purchases at fixed purchase price of less than US$27/pound to generate net cash margin of $US1.3 million; and 450,000 pounds to be delivered in each of CY2021 and CY2022.
The company’s strong existing relationships with preferred customers will act as a base for new business.
Uranium market outlook
The COVID-19 pandemic has resulted in an unprecedented upheaval in the global uranium market and while demand has been quite resilient, production disruptions have been significant.
Looking forwards, there is a renewed emphasis on supply diversity and security of supply developing and uranium spot prices have risen around 30% to US$32.00/pound since mid-March.
US NFWG report findings
The US Department of Energy (DOE) ‘Strategy to Restore American Nuclear Energy Leadership’ outlined potential actions designed to revive the capabilities of the US uranium mining, milling and conversion industries.
Notably, key Nuclear Fuel Working Group (NFWG) policy recommendations include:
Establish US Uranium Reserve with budget appropriation required of US$150 million per year, for 10 years to purchase US produced uranium; and Propose purchasing 17 to 19 million pounds over a 10 year period of US-produced uranium.
Peninsula is perfectly placed to benefit from this strong DOE support for a long-term buying program from US uranium mines and is the only ASX-listed uranium company that has the immediate ability to take advantage of this US government buying program.
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Your a funny character Tela.
So what happened with Sunstone hmmm?
So what happened with Sunstone hmmm?
Hey FR, all good with Sunstone - bought heaps @ .012c (offloaded some @ .015) then topped up more recently @ .012 (has 'potential going forward' imo)
Heavily invested in PEN though as it's my "trump card"!
Good luck with your endeavours. Cheers
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big selloff today and friday any clues to why
greggles
I'll be back!
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This is from their announcement on Friday:
A delay of six months means some punters are going to bail out of the stock and look for better opportunities elsewhere. I imagine it probably has a little further to fall yet.
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Yeah tend to agree Greg.
Had a quick read of the Announcement. The volume of Acid required to bring the ground water to the PH required is much higher than the Feasibility study indicated in the laboratory.
The acid decomposes the naturally occurring carbonate minerals and bicarbonate in the water, so its either going to cost a lot more, or the quality of the extracted material will be lower (my assumption)
They are starting with water at PH8 but need to get it to PH2 to work effectively. Tough being a Chemist at that level.
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thankyou
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Like this as a long term basing chart? Highly prospective in my view but the history of the company sucks with hyperinflationary dilution disguised by a 40:1 share consolidation back in 2015 and since then they've inflated issuance back to slightly over 1 billion shares diluted for options, recent placement and Spp (yet to complete).
If you beieve in a continuing bull market for uranium they've got a quite a beguiling story going now from a superficial look (big scale resource in Wyoming, plant, licence, past production/current hiatus, forward sales in place above spot, favourable govt policies toward domestic U.S sourcing including likely strategic reserve to pass in legislation.
It's not really cheap @ 0.16 (current Plcmt and Spp @ 0.15) because of over 1 billion diluted shares, i.e the real price in my book is $1.60/shr for a consolidated ~100,000m shares. If you want to stick up for earlier investors who have stuck around the real price would have to reach 0.16x40x10 = $64/shr for them to get 0.16 for their shares. So I won't be buying into their scheme.
Big big volume matching the right candles, Shallow H&S, Small mthly candle bodies getting bigger and positive, Recent piercing of monthly bollinger line.
Monthly
If you beieve in a continuing bull market for uranium they've got a quite a beguiling story going now from a superficial look (big scale resource in Wyoming, plant, licence, past production/current hiatus, forward sales in place above spot, favourable govt policies toward domestic U.S sourcing including likely strategic reserve to pass in legislation.
It's not really cheap @ 0.16 (current Plcmt and Spp @ 0.15) because of over 1 billion diluted shares, i.e the real price in my book is $1.60/shr for a consolidated ~100,000m shares. If you want to stick up for earlier investors who have stuck around the real price would have to reach 0.16x40x10 = $64/shr for them to get 0.16 for their shares. So I won't be buying into their scheme.
Big big volume matching the right candles, Shallow H&S, Small mthly candle bodies getting bigger and positive, Recent piercing of monthly bollinger line.
Monthly
Garpal Gumnut
Ross Island Hotel
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I would agree @finicky .
I day traded PEN many years ago and the sentiment then was to ensure one sold to a bigger fool. The large holders, board and executive are an interesting mob. Then again it may beat bitcoin.
gg
