PEN - Peninsula Energy

[hangseng]

Re: PEN - Peninsula Minerals

Announcement out today displays how good this project potentially can be and the rapid progress the company is making while the market sleeps. This is a very positive announcement in terms of development confirmation and project advancement. This is a real story panning out here.

In terms of environmental approvals and lease expansion in Wyoming, this is extremely positive. They have now aquired a very large area in the Lance project.

In regard to the query about the Uranium conference held in Fremantle. The short answer is yes and to quote Gus Simpson as close as I can recall "Areva were very positive about the future of nuclear energy and want all the uranium they can get." Gus went on to tell me that both Areva and the Japanese people present stated they wanted to speak to all uranium companies present with a view to sourcing further uranium. He stated they had been talking to them but would not elaborate further, understandably.

PEN is advancing very positively and the next 6-12 months are going to be extremely interesting as further news is delivered.

 

[Megacents]

Re: PEN - Peninsula Minerals

Hi hangseng

Thanks for the feedback re conference. Tried to top up this morning at 2.5cents but no luck due to announcement.

DYOR.

 

[Lucky_Country]

Re: PEN - Peninsula Minerals

Uranium price is tipped to double over the next year alone and PEN is advancing its project in great fashion.
I have been really impressed with the management and the progress the Lance project is getting better with each announcement.
PEN is the best U308 explorer on the ASX.

 

[SCHUMACHER]

Re: PEN - Peninsula Minerals

Uranium price is tipped to double over the next year alone and PEN is advancing its project in great fashion.
I have been really impressed with the management and the progress the Lance project is getting better with each announcement.
PEN is the best U308 explorer on the ASX.

make that ADVANCED EXPLORER......and dont forget AGS....they are a lowest cost producer than PEN and they commence mining in 15 months ........PEN goes to bank feasibility by end of 2010 so it wont be until 2012 before they commence mining....cheers Schu

 

[hangseng]

Re: PEN - Peninsula Minerals

make that ADVANCED EXPLORER......and dont forget AGS....they are a lowest cost producer than PEN and they commence mining in 15 months ........PEN goes to bank feasibility by end of 2010 so it wont be until 2012 before they commence mining....cheers Schu

Hi there Shu,
Not entirely correct, PEN will commence mining within 12months of permitting. This process has already begun and could potentially be complete by mid 2009. PEN indicated in the annual report that this process is from 2008-2010.

All PEN need complete succesfully for permitting is the groundwater baseline study, which is well underway. I have already confirmed that PEN require no public consult period for Lance, so that is no barrier.

PEN could potentially be mining by late 2010.

You are correct in that AGS is a lower cost production. This is due to the exceptionally high grades they have and the size of the resource, which is clearly massive on both counts. However AGS is in patnership so they won't reap all of the rewards, not to state it won't be good quite to the contrary. I like AGS a lot and share your positive view.

PEN on the other hand has only just started to prove up Lance, with Ross and Barber rapidly showing higher grades and the resource size is increasing significantly with time. Lance (at this stage) is also 100% PEN and the plant design is already done, as is the ISR plant location identified all of which are major aspects in the positive development of PEN in Wyoming. Make no mistake PEN will be a very low cost producer and even without checking the Capex of AGS I believe PEN is a lot lower for Lance.

PEN was an advanced explorer, it is now clearly idenitfied as a potential producer. Still a way to go but the positives are adding up consistently and in a timely fashion. I haven't even spoken of Karoo but that will become self evident as early results have already indicated.

The two IMO can't be compared apart from the potential capital gains. Both AGS and PEN IMO will do very well, however (again IMO) PEN will achieve far greater multiples in SP gains in the next 3 years purely due to the very low entry price that is no longer relevant to AGS. Not to say AGS is not going to increase, I believe it will and that is why it is one of mine, I just believe PEN will provide me with a far higher return in the next 3-5 years.

All of the above subject to change dependant on how Lance is funded, clearly dilution could disolve some of the potential gains I speak of if equity is used. But I am thinking way ahead of myself here as we aren't there yet, 2009 this will become clear.

Just my view.
Cheers
Hangseng.

 

[Lucky_Country]

Re: PEN - Peninsula Minerals

PEN having a large volume day just some idiot seller trying to cap the price !

PEN has been way way oversold for some time now and value hunters seem to be moving in.

Lets see how the day finishes !!

 

[jetblack]

Re: PEN - Peninsula Minerals

You dont think that it could be setting up for a cap raising or restructure? I noticed that options were'nt exercised in February. I only ask as I've seen PEN get ramped before. I hold no stock but remain interested in it, only that it will need future funds. From its last run up to 3cents I think there may also be a few wanting out to, so resistence will be a bit stacked.

 

[Lucky_Country]

Re: PEN - Peninsula Minerals

Not sure about a restructure but they have alot of projects they may consider selling down before going back to the market.

PEN has been way oversold but looks like someone wants back in !

 

[shaq32]

Re: PEN - Peninsula Minerals

Trading Halt lifted today and it retraced quickly from 3.5 to 3. There is serious upside in this stock if you do some research on Lance. If it falls into the mid 2's then i'll be loading up once again. Cheapest U stock out there with excellent prospects

 

[prawn_86]

Re: PEN - Peninsula Minerals

Trading Halt lifted today and it retraced quickly from 3.5 to 3. There is serious upside in this stock if you do some research on Lance. If it falls into the mid 2's then i'll be loading up once again. Cheapest U stock out there with excellent prospects

Shaq,

Welcome to ASF

Please inform us as to why you believe this stock is cheap. Otherwise your comment is simply ramping and will be removed.

Thanks

Prawn

 

[shaq32]

Re: PEN - Peninsula Minerals

1. At 3.6 cents current fully diluted market cap is $44 million Aussie. The replacement cost of the 912,000 metres of drilling would be $60 million.
The current full value of the company is roughly 73% of the replacement drilling cost.

2. Minimum target (global)of 50 million pounds is currently worth $3.5 billion US and that is the minimum target.

3. Mean target is 63 million pounds for $4.41 billion.

4. Current top range target is 76 million pounds for $5.32 billion.

5. 50 million pounds at $7 US equals $350 million US
63 million pounds at $7 US equals $441 million US
76 million pounds at $7 US equals $532 million US

A recent t/o in Africa using open cut (more expensive) was based on either $7 or $7.50 US per pound in ground.

Our current market cap of $44 million Aussie or 30.79 million US equates to 61.58 cents US per pound using the minimum of 50 million pounds, 48.89 cents US using 63 million pounds or 40.51 cents US using 76 million pounds.And some suggest there could be a lot more than 76 million pounds.

There is a upside here me thinks.

And all located in the uranium deficient USA.

btw nice article in the Australian Today

http://www.theaustralian.news.com.au/business/story/0,28124,25403227-36418,00.html

 

[doubledark]

Re: PEN - Peninsula Minerals

with no discussion for over a month I would like to ask people who follow Pen if they have any thoughts on todays possible events?

 

[jetblack]

Re: PEN - Peninsula Minerals

I reckon they are going to offer a placemement at 0.028c with an attaching right payable at 0.03c. Stacks more shares on issue I guess if the shareholders think they are getting a bonus, ask the the holders back when the stock was up around 9c if they got value. Uranium was over $100 back then.


With all their land/acerage around Wyoming and the touting of its potential, I would have thought that there would be other companies more than interested to stake a claim in their Uranium findings. I was hoping more for a joint venture announcement.

I'm probably being a bit cynical but we may not see Uranium produced from Wyoming for ages, reminds me of the line I think in a Clint Eastwood movie, where he says "Your all dressed up and no-one to blow."

 

[hangseng]

Re: PEN - Peninsula Minerals

I reckon they are going to offer a placemement at 0.028c with an attaching right payable at 0.03c. Stacks more shares on issue I guess if the shareholders think they are getting a bonus, ask the the holders back when the stock was up around 9c if they got value. Uranium was over $100 back then.


With all their land/acerage around Wyoming and the touting of its potential, I would have thought that there would be other companies more than interested to stake a claim in their Uranium findings. I was hoping more for a joint venture announcement.

I'm probably being a bit cynical but we may not see Uranium produced from Wyoming for ages, reminds me of the line I think in a Clint Eastwood movie, where he says "Your all dressed up and no-one to blow."

I wonder how you arrived at the "reckon" of 2.8C? Pretty good guess

I disagree completely with you regarding Wyoming, in particular with Lance. In fact it already is being produced and directly adjacent to Lance. Lance was also a successful operational site with the pilot plant, so as rightly pointed out by PEN this is a "Brownfields" operational site not a "Greenfields" site. PEN is well advanced and all that they have is going to come to light very quickly now with the advancement of Ross and Barber to BFS stage.

A very big mistake people also seem to be making with PEN at Lance is they compare PEN to conventional miners as compared with InSitu Recovery. It is also completely overlooked that where they are to operate has all infrastructure in place, i.e no cost to PEN to develop. This is very low cost operation as already indicated by the preliminary studies and in my opinion will occur in the timeline indicated by PEN. The operational plant is basic in design and will be constructed quickly at low cost.

I will gladly be taking up the offer and glad management had the foresight to give an opportunity to shareholders. John Simpson is smart enough to know that longer term holders (believers) of PEN will see this as another opportunity, I know I do.

 

[jetblack]

Re: PEN - Peninsula Minerals

I actually guessed the placement price after having just read their announcement, I used the power of hindsight.

I'm not a "believer" of PEN so what I say might not rub up well with those that are, but its my op, and still have an interest in the company if only by just watching.

These guys are more like Wyoming real estate agents, purchasing chunks of land, "much like throwing a handfull of darts at a board, hoping ones got to stick", sure their historical grades show good grades, but these guys have not really done much drilling, and as in any insitu recovery you need to know how much actual recoverable Uranium you are going to get.

While other companys might be producing nextdoor, it doesnt mean they will be as lucky.

As for the share price, imo I believe you will get it cheaper than their placement, only as they have created a large dilution, irrespective of market capital, PEN are not even halfway there.

I'll await their Hydro and Metalurgical testing and possiblly some type of JORC, instead of historical data.

 

[hangseng]

Re: PEN - Peninsula Minerals

These guys are more like Wyoming real estate agents, purchasing chunks of land, "much like throwing a handfull of darts at a board, hoping ones got to stick", sure their historical grades show good grades, but these guys have not really done much drilling, and as in any insitu recovery you need to know how much actual recoverable Uranium you are going to get.

I'll await their Hydro and Metalurgical testing and possiblly some type of JORC, instead of historical data.

How wrong you are, you really should do far more research before making such a statement. If you had done your homework, or even simply contacted John Simpson you would know they only need to do confirmation drilling.

The locations they are aquiring are targetted to pinpoint GPS accuracy based on the historical data, hardly "throwing darts".

The historical data equates in todays terms of around US$60M in drilling costs according to John Simpson, hardly what you would term "not much drilling". PEN DO NOT have to redrill that data to be acceptable for JORC, that is simply another misunderstood aspect generally by the market.

I do agree theat the Hydro/Metallurgy testing is important and will be telling. It is also the catalyst to apply for the works permit.

Do yourself a big favour and read far more than you have, not only re PEN but about the location historically and as importantly ring John Simpson.

You displayed what I have spoken of many times, PEN is misunderstood completely, often misinterpreted and will have its day in the sun. I even had someone recently argue with me that they are going to "destroy the ground water with acids". A simple read would have displayed a benign bi-carbonate solution is used in Wyoming, acids are used in another continent far from the USA for different reasons. Many have also said the historical data is nothing but worthless paper, that is as laughable as stating they are "throwing darts".

I can see John now if he read your last post, he would still be rolling over laughing his head off as am I. You are entitled to your view as you say, as I am to laugh at such an outrageously false statement.

 

[hangseng]

Re: PEN - Peninsula Minerals

These guys are more like Wyoming real estate agents, purchasing chunks of land, "much like throwing a handfull of darts at a board, hoping ones got to stick", sure their historical grades show good grades, but these guys have not really done much drilling, and as in any insitu recovery you need to know how much actual recoverable Uranium you are going to get.

I'll await their Hydro and Metalurgical testing and possiblly some type of JORC, instead of historical data.

How wrong you are, you really should do far more research before making such a statement. If you had done your homework, or even simply contacted John Simpson you would know they only need to do confirmation drilling.

The locations they are aquiring are targetted to pinpoint GPS accuracy based on the historical data, hardly "throwing darts".

The historical data equates in todays terms of around US$60M in drilling costs according to John Simpson, hardly what you would term "not much drilling". PEN DO NOT have to redrill that data to be acceptable for JORC, that is simply another misunderstood aspect generally by the market.

I do agree that the Hydro/Metallurgy testing is important and will be telling. It is also the catalyst to apply for the works permit.

Do yourself a big favour and read far more than you have, not only re PEN but about the location historically and as importantly ring John Simpson.

You displayed what I have spoken of many times, PEN is misunderstood completely, often misinterpreted and will have its day in the sun. I even had someone recently argue with me that they are going to "destroy the ground water with acids". A simple read would have displayed a benign bi-carbonate solution is used in Wyoming, acids are used in another continent far from the USA for different reasons. Many have also said the historical data is nothing but worthless paper, that is as laughable as stating they are "throwing darts".

I can see John now if he read your last post, he would still be rolling over laughing his head off as am I. You are entitled to your view as you say, as I am to laugh at such an outrageously false statement.

 

[Megacents]

Re: PEN - Peninsula Minerals

Hi

Nice banter Jetblack and hangseng (been quiet for a while this thread)

I have held PEN shares for a while now and what really interests me is the brownfields (ISR) (USA) and now some interesting developments in SA (ISR). I will certaintly be taking the latest offer, only because I like a gamble.

Any way time will tell.

Megacents

dyor

 

[jetblack]

Re: PEN - Peninsula Minerals

I should probably clarify the "dart board" statement , it was meant in context with the chunks of land being acquired, not the historical grades. As you are aware ISR also needs large areas of land and good ground water table.

PEN's acerage is in the North East, the better part of ISR is in the South West of the Powder River Basin, could be something to do with a better ground water table?

PEN are touting the area as possibly the next mineral province,they got to prove it, like I said I'll wait until the Hydro and Metal testing.

 

[shaq32]

Re: PEN - Peninsula Minerals

Well the dilution effect is in full swing and with a price round the take up offer its little wonder the rights issue was not fully subscribed. However the options are still the defining decision in having taken up the issue.

Just remember that its 2012 that matters and not 2009! People sometimes need to be reminded that mines take time to evolve. By this time there will be a Uranium shortage(well publicised) and PEN will be able to take advatage of this when the time arises.

Nice to see Simpson investing heavily in the stock also.