Australian (ASX) Stock Market Forum

PEN - Peninsula Energy

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Following is a bearish view of PEN. I'd like for the sake of ASF members invested in PEN to be wrong and I must admit that over the years I was bullish on PEN. The board and executive do a good job of selling horse sh*t.

I fell out of love with it about 20 years ago. Whenever I am tempted to throw a few kopeks at it I look for the word "Lance". If it is there I run as fast as I can in any direction except the "buy" button.

I now only look at it when I'm depressed, to cheer me up that I don't own it. I've served my time as a PEN investor. Enclosed is a life time chart of PEN going back to 1995 and the losses to investors timewise back to its inception. That loss from when it listed is 96.5%. This does not take in to account all the capital raisings and options expiring worthless of which there were many.

I genuinely hope I'm wrong and that investors finally make a profit.

PEN.ASX.png


gg
 
Garpal Gumnut said:
Following is a bearish view of PEN. I'd like for the sake of ASF members invested in PEN to be wrong and I must admit that over the years I was bullish on PEN. The board and executive do a good job of selling horse sh*t.

I fell out of love with it about 20 years ago. Whenever I am tempted to throw a few kopeks at it I look for the word "Lance". If it is there I run as fast as I can in any direction except the "buy" button.

I now only look at it when I'm depressed, to cheer me up that I don't own it. I've served my time as a PEN investor. Enclosed is a life time chart of PEN going back to 1995 and the losses to investors timewise back to its inception. That loss from when it listed is 96.5%. This does not take in to account all the capital raisings and options expiring worthless of which there were many.

I genuinely hope I'm wrong and that investors finally make a profit.

View attachment 183711

gg
Click to expand...
Thats one of those charts i just cant touch , decades of baggies underwater , at current price only a few who bought in '20 are ITM , the overhang in a stock like this is a massive impost to overcome . 1.3 billion shares with 99% of them underwater , no thanks ..
 
Garpal Gumnut said:
Following is a bearish view of PEN. I'd like for the sake of ASF members invested in PEN to be wrong and I must admit that over the years I was bullish on PEN. The board and executive do a good job of selling horse sh*t.

I fell out of love with it about 20 years ago. Whenever I am tempted to throw a few kopeks at it I look for the word "Lance". If it is there I run as fast as I can in any direction except the "buy" button.

I now only look at it when I'm depressed, to cheer me up that I don't own it. I've served my time as a PEN investor. Enclosed is a life time chart of PEN going back to 1995 and the losses to investors timewise back to its inception. That loss from when it listed is 96.5%. This does not take in to account all the capital raisings and options expiring worthless of which there were many.

I genuinely hope I'm wrong and that investors finally make a profit.

View attachment 183711

gg
Click to expand...
Dear GG @Garpal Gumnut

Thanks for your passionate posting, and I fully empathise with your pain.
I think the pain with PEN is the management . In 2008, I managed a uranium project's feasibility study from a consultancy house for a very large organisation in Australia. During that time, we established the technology associated with PDN, which was superb. However, WA Govt did not allow the uranium project to go ahead, and the study did not go either. However, regardless of whether the process flow sheet and plant were good for PDN, they were very good, and the investors did not earn money over the long term.
PEN is no different. Lance's project has been a ghost expectation, with lots of management bluffing that has hurt investors like you and others. I could be wrong, as always, on speculative investment, but unless PEN undertakes a serious change, the silver lining is not there for me. DNH.
Two gentlemen in the past were great supporters of PEN Agentm and Hangseng (who probably disappeared from this forum a long time ago)(@Joe Blow can confirm if they are still on the membership here). They have had a very high investment reportedly on PEN and unless sold out, followed the investment curve as you have reproduced.
Sorry for my rambling lecture, but PEN Is good for me to tip but not to put money with current leadership.
 
houtman said:
@debtfree

PEN has drifted into the 8c range, M Cap still above its NPV reported in 2023 of $116m.

The rubber hits the road in a few short months.

Not held.
Click to expand...
Commsec reports the Market Cap of PEN on Friday as being $334.38m which I presume to be $AUD.

The last sp quoted on Friday on the ASX was $0.085.

So by a simple act of division $334,380,000,000 / 0.085 = 3933,882,352,941 to give us the number of stock on issue

So give or take a few million shares between friends, options and other freebies and rounding up there are 4 Billion shares on issue, each share searching for a piece of the Uranium pie with some 100 other companies at various stages of development.

Four Billion.

4,000,000,000 Shares

Just sayin'

gg
 
Miner said:
one of the most painful and depression stock also on my annual tipping CY 2024 @debtfree
Click to expand...
oh well, if @debtfree doesn't adjust the calculation, you'll be a champion..

Peninsula Energy proposes 1-for-20 share consolidation, pending shareholder approval, allowing for greater liquidity as the stock will trade around ~$2 instead of 10 cents
 
Dona Ferentes said:
oh well, if @debtfree doesn't adjust the calculation, you'll be a champion..

Peninsula Energy proposes 1-for-20 share consolidation, pending shareholder approval, allowing for greater liquidity as the stock will trade around ~$2 instead of 10 cents
Click to expand...
@debtfree
It's been a long year for us PEN tipsters fronting up every month, paying penance with interest you may say.

Anyway, PEN should breeze through the share consolidation, having done similar in 2015.
Just a matter of changing some dates on the paperwork and all done.

With the previous 2015 10/1 consolidation and now a 20/1, we will have 200/1 overall for 9 years.
Quite a show.
 
@debtfree

Ah PEN, you've done it again.

Parts from today's release, bolds mine-


KEY POINTS


• The final CPP capital cost is projected to be US$9.5M higher than previous estimate

• Working capital and debt facility funding discussions are advanced

• CY2025 ramp-up production profile revised downward to 600,000 lbs U3O 8 reflecting current
status of projectwide development (previous range of 700,000 to 900,000 lbs)

But on a brighter note -

• Managing Director, Wayne Heili has indicated his intention to resign from the MD/CEO role in
2025. An executive search process has been commenced for a new MD.

Not held
 

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