PEN - Peninsula Energy

[hangseng]

Re: PEN - Peninsula Minerals

:jump:

" The Ross prospect is the most densely historically drilled prospect at the
Lance Project and mineralisation defined by historic drilling gives a projected
exploration target size at the Ross prospect alone of 6–8m lb U3O8 at target grades of
0.05-0.06% U3O81............. Over the other 12 prospects plus adjacent areas, the exploration target size potential
is 33-53m lb at an expected grade of 0.05-0.08% U3O81. This significant potential is
largely a result of the vertical stacking of the roll fronts which multiplies the chances
of mineralisation per km of strike length. The drill density between the prospects is very
low, and many of the holes that were drilled did not go deep enough to test the
deeper roll front positions."

Potentially 60 million lbs and they haven't drilled deep enough with the historic data to test the deeper roll fronts.
This just has enormous potential written all over it. Just keep reading and re-reading this Lance announcement. It gets better and better every time you read it. I am extremely excited about PEN's prospects here. :jump:

Mick may I say well done. Finally someone who can read and cleary comprehend.

I have stated my case many times on PEN and I am of no doubt now as to what this project potentially offers. It won't take long now as they only require minimal infill drilling to confirm Jorc due to the extensive historic data they now own and have collated.

PEN is exciting me no end now and I am with you 100% :jump: :jump:

 

[Lucky_Country]

Re: PEN - Peninsula Minerals

Will PEN be the next U308 producer from Aus ?
With the Lance project moving rapidly, the US wanting more U308 production from their soils PEN must have to be in a great position for a near term producer.

 

[mickqld]

Re: PEN - Peninsula Minerals

Will PEN be the next U308 producer from Aus ?
With the Lance project moving rapidly, the US wanting more U308 production from their soils PEN must have to be in a great position for a near term producer.

I dont have too many doubts that they will be Lucky_Country. The isl holes are already drilled. The data is there. The previous mine design and plant designs are already there. They only have to rebuild what was originally there and away they go. Go deeper on the holes that are there to test all the roll fronts and it shouldnt be too long to get a JORC.
It shouldnt take very long to get a BFS as the setup has already previously been done. This should be able to roll within 2 years.

 

[Gspot]

Re: PEN - Peninsula Minerals

I bought PEN when they were 10cand have held ever since. I've been watching for some time, and agree with HSeng, that these puppies will fire. Having uranium like this Lance project, in the US, is as good as it gets, imo.
Sitting and waiting with money ready, to top up on this mob.
Keep up the good chatter HangSeng and co.

 

[hangseng]

Re: PEN - Peninsula Minerals

It seems PEN is unloved on ASF. No accounting for taste

Announcement out this morning and all excellent news toward development of the Lance Uranium Project in Wyoming. This project is advancing rapidly toward production and this is just one more step in the right direction.

"Environmental Baseline Studies commence at the Lance Project"
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00849724

Two key appointments and the market responded with excellent volume today so far.

 

[Georgeb]

Re: PEN - Peninsula Minerals

Great announcement. I have just re-purchased again today and after it broke 4.5c. This is way undervalued..

 

[hangseng]

Re: PEN - Peninsula Minerals

Great announcement. I have just re-purchased again today and after it broke 4.5c. This is way undervalued..

It has been undervalued for over 12 months IMO. No matter the reset is in progress now and the market will pickup accordingly on PEN.

 

[uahmad]

Re: PEN - Peninsula Minerals

Hi!

After doing some research PEN was my very FIRST buy on share market. Im a total newbie and probably still haven't learnt enough to even make the purchase but for some reason I did.

I bought these yesterday at 3.8c and already upto 4.6. Since it was my first buy it was a VERY small parcel and now im kicking myself I didnt buy more.

Im probably looking at buying some more but not sure when to come back in? From what i understand or read it looks poise to take off again very soon.

What are your thoughts regarding this Hangseng?

Giving i wont be taking your comments as advice (will do my own investigation) but as a novice what do people think? is it wise to step back in around the 4.4-4.5c mark or just hold onto what i have at the moment and see what happens.

Sorry if i come across as if im after a tip etc. Definitely not my intentions.

Cheers

 

[alankew]

Re: PEN - Peninsula Minerals

Dont forget there are options,code is PENO,current price is around half that of the heads.They expire in Jun 2010 so plenty of time obe in the money.The exercise price is 10c however as the heads get closer(and over this price)thats when the options will really come in to play

 

[VViCKiD]

Re: PEN - Peninsula Minerals

Dont forget there are options,code is PENO,current price is around half that of the heads.They expire in Jun 2010 so plenty of time obe in the money.The exercise price is 10c however as the heads get closer(and over this price)thats when the options will really come in to play

hi alankew,

I can't find those options on the ASX site. Could you please post up the listing of the options available ?

Cheers

 

[hangseng]

Re: PEN - Peninsula Minerals

Hi!

After doing some research PEN was my very FIRST buy on share market. Im a total newbie and probably still haven't learnt enough to even make the purchase but for some reason I did.

I bought these yesterday at 3.8c and already upto 4.6. Since it was my first buy it was a VERY small parcel and now im kicking myself I didnt buy more.

Im probably looking at buying some more but not sure when to come back in? From what i understand or read it looks poise to take off again very soon.

What are your thoughts regarding this Hangseng?

Giving i wont be taking your comments as advice (will do my own investigation) but as a novice what do people think? is it wise to step back in around the 4.4-4.5c mark or just hold onto what i have at the moment and see what happens.

Sorry if i come across as if im after a tip etc. Definitely not my intentions.

Cheers

If there is doubt stay out.

It doesn't mean the stock isn't worthwhile, in fact I believe the opposite. It simply means if you are not sure in your own mind then stay with what you have.

Indecisiveness and procrastination can be a formidable and convincing enemy and yet can be your greatest protection against yourself.

Learn your own psychology first, then decide what is good for you.

End of lecture, sorry about that


A buy at around 4.1-4.4 may see you in for this run. New support is at 4-4.1 so a buy sitting there for any re-test of support may be a worthwhile entry.

Personally I don't think you will get in under 4.4 now and I don't chase stocks. That is why I buy the stocks I want at technical lows then sit and wait.

Define what you want to do, day trade a stock or invest. Day trade, chasing momentum can be profitable and can also cost you especially in T+3. Investing, choose the entry you are happy with and just buy and don't sell untill the stock reaches your desired profit level.

None of the above is advice, nor recommendation to buy or sell. Except for the lecture, that is advice on trading psychology Learn that and you will increase your win/loss ratio.

 

[uahmad]

Re: PEN - Peninsula Minerals

Wow what happened this little bugger today.

Anyway went with my feeling and jumped on again at 4c today.

Hopefully next week we see the Green action back.

 

[SCHUMACHER]

Re: PEN - Peninsula Minerals

Hello to all, ive just joined this site today and have been in and out of PEN over the past 12 months.......so here is my take on PEN

....there was certainly a flurry of buyers chomping thorugh those millions recently when it hit 4.7c and now shes back to 3.8 to 3.9c.....3.8c is crutial support on my charts.....so my call now is that 3.8c needs to hold and once we break 4.6c we should and I say, should see new levels well above....PEN is one of those stocks that could erupt at any given time.....they also have more chance of getting to production than DYL at this EARLY stage....now isnt that funny! ......so therefore I think everyone should have at least 100,000 shares In Pen minimum if you can afford them and bottom draw them as its not alot of money to pay for a small stake ...especially if they get to production inside 3 years from now.......

Currently the charts are showing an ascending triangle which is a bullish chart pattern.....we should know the outcome of this trading pattern if she moves through 4.1c whcih seems to be a bit difficult at the moment......interesting that the gold anouncements on friday did not move the share price much but the way the overall market sentiment is i didnt expect much and of course, the fat that PEN is more a U308 company than Gold ........

DOW closed 220 points down on friday so this coming week may be a bit choppy.......one thing is for sure PEN has a great potential future based on the ISR mining as opposed to conventional mining as the start up cost and production costs are considerably lower than conventional mining

Cheers Schumacher

 

[hangseng]

Re: PEN - Peninsula Minerals

I have been reliably informed that we should see the new website tomorrow. Apparently it will be incomplete but we will begin to see the transformation of PEN into a dedicated uranium company.

I hold that the Lance project will be a company maker for PEN. It won't do my bank account any harm either in a few years time

 

[martha]

Re: PEN - Peninsula Minerals

hangseng - does this mean we have to hold onto these for a few more years before we see any return or are you talking about major returns? do you think uranium prices are going to turn around?

 

[uahmad]

Re: PEN - Peninsula Minerals

well the new anticipated website just went online.

Looks pretty shmick too!

http://www.peninsulaminerals.com.au/

 

[hangseng]

Re: PEN - Peninsula Minerals

hangseng - does this mean we have to hold onto these for a few more years before we see any return or are you talking about major returns? do you think uranium prices are going to turn around?

It is best I don't get into forecasting share prices. Where PEN will go short term I really don't know. If I hazard a calculated guess it would be up as PEN has so much information coming forward now and I foresee it all being positive.

Long term it is suffice to say I now have large holding (for me that is) and I am expecting an excellent return on this as a long term investment. I am very comfortable with my risk exposure to PEN.

The talk of going to early production is not a pie in the sky prediction in my view. I have read enough information and discussed enough with the company now to suggest to me quite strongly that this will occur, and I believe it will by late 2010 if not earlier. This is my timeline and not the companies or anyone elses, so don't base anything you do on my thoughts.

I also expect PEN to announce a resource upgrade to 100Mt, as they have already indicated they are targeting.

With the environmentalist they have now engaged I expect the approvals to be a given. He is very high profile in Wyoming and is not what you might call a new kid on the block, this is his playground.

 

[hangseng]

Re: PEN - Peninsula Minerals

All of the pieces are falling into place, slowly but surely. This wasn't my find but it is a worthwhile read. No doubt this will be on the new website as they continue to add information. PEN is beginning to look very exciting indeed.

I recommend if not already registered to the website source indicated below, that you do so. A significant amount of information on any number of companies.

The company is convinced and so am I. One thing is becoming a certainty, PEN won't remain at 3c for long!
"...especially considering the potential of our Lance project to be a company maker that will enable use to capitalise on the growing demand for uranium as a supplement to coal for base load power supply."

Peninsula Minerals Commences Environmental Baseline Studies at its Lance Project, Progressing the Company Towards its Aim of Becoming a Profitable Uranium Producer
Peninsula Minerals Ltd is a uranium exploration company that is primarily focused on taking its flagship project – the Lance Project, in Wyoming, USA – through to production, while subsequently continuing the exploration and development of the additional tenements within its portfolio in South Africa and Australia.
The Company’s aim is to be a 1.5m lb per year U3O8 producer from an In-Situ Recovery operation at the Lance Project in Wyoming USA within 2 years of permitting.

Illustrating Peninsula Mineral’s substantial progress to date it has commenced environmental baseline studies at this project.

Mr. Gus Simpson, Peninsula Mineral’s Chairman informed the Australian Investor, “This is a key development for the Company because it progresses us towards the permitting of the project. We need to conduct these baseline studies to comply with Wyoming’s government, which will enable us to commence mining in a timely fashion.”

The commencement of environmental baseline studies has resulted in the appointment of two key Environmental and Engineering consultants: Mr. Pat Gochnour and Mr. Doug Christopherson.

Senior Environmental Consultant Mr. Gochnour willl lead the environmental baseline monitoring and the permitting process required for permitting of new ISR operations in Wyoming.

Mr. Gochnour has provided environmental service to the mining industry since 1981, with his areas of expertise including environmental audits, permitting programs, Plan of Operations and EA/EIS development, alternative siting studies, reclamation planning, environmental contingency planning, remediation and environmental litigation support.

Mr. Christopherson, Senior Engineer with independent consultants World Industrial Minerals, will conduct a thorough review of all of the historic hydrologic, process and production data generated in the historic ISR Pilot Plant which was located on recently acquired mineral tenements at the Lance Project. He will review the significant amount of historic data related to the ISR Pilot Plant that previously operated at the Lance Project.

The trial mine and ISR Pilot Plant were designed to produce 40,000 lb of U3O8 per year and ran successfully for ten months prior to being closed due to the Three Mile Island incident in March 1979. The site was fully rehabilitated with all bonds returned from the Department of Environmental Quality and the Nuclear Regulatory Commission by 1984.

“We are excited by the potential represented in this project, not only because of this ISR Pilot Plant, but also because we believe the Lance Project has the potential to not just be a mineral project, but a mineral province,” Mr. Simpson informed the Australian Investor, “It has managed to remain under the radar because it has been under the control of the same individual since its conception up until this point. We are very fortunate to have gained access to the area and are looking forward to aggressively pursuing its potential.”

Mr. Simpson noted that one of the key reasons why Peninsula Minerals was able to obtain access to this area was because of its understanding on how to approach land acquisition.

“We understand that to acquire land it is important to take a one-on-one approach and build up a relationship with the owner,” he explained to the Australian Investor, “We put in the time and the effort to show the land owner that we are genuine.”

This is an approach that Mr. Simpson has learned via the acquisition of mineral sands tenements in Western Australia.

Another important attribute of Peninsula Minerals that is expected to aid its growth and its development is its strong technical team that the Company is continuing to expand.

Mr. Simpson also mentioned that currently the Company’s largest shareholder is a US institutional group that has bought its position in the Company via the Australian share market.

“We believe this demonstrates their support and belief in Peninsula Minerals and its projects,” Mr. Simpson commented, “Moreover we think it shows their recognition of the increasing market for uranium within the US.”

He concluded, “We are positive about the future outlook for Peninsula Minerals, especially considering the potential of our Lance project to be a company maker that will enable use to capitalise on the growing demand for uranium as a supplement to coal for base load power supply.”
Source: http://www.australianinvestor.com.au/magazine.aspx?id=2937

 

[mickqld]

Re: PEN - Peninsula Minerals

Announcement out.
Investor presentation.
http://imagesignal.comsec.com.au/asxdata/20080709/pdf/00858836.pdf

Aiming to be a 1.5million lb per year U3O8 producer within 1 year of permitting.
Projected NPV of $260 million

 

[Megacents]

Re: PEN - Peninsula Minerals

Still sitting around the 3.0-3.3cents range.

Perhaps uranium conference 23-24 July in WA maybe a good precursor to new investment. Company presents on the 24th. I notice that the Japanese government is one of the sponsors.

Link to conference: http://www.verticalevents.com.au/uranium2008/

Does any one know if this (conference) is a good gateway networking etc?

All comments are created while I am sleeping . Dyor.