PEN - Peninsula Energy

[barney]

stevo there is no secret at all that PEN are about to announce the final mine permit submission and a resource upgrade. You could regard both as imminent due to the MD stating just recently on BRR and also at the AGM that this would occur as planned in Dec 2010.

Both of those are expected as a MINIMUM before the end of the year.

I shake my head that little to no interest has come in from ASF posters on PEN in the last year. It was obvious to blind freddy that PEN was going to be re-rated, and it has been...significantly already with more to come.

Gus has been on a roadshow in Sydney and Melbourne this past week with Shaws Stockbroking. I am also now expecting a report from Shaws.

Regarding the red bit highlighted above ..... Some of us have our own "selfish" agenda HS, and don't want to let the cat out of the bag too early :

Your continued "appreciation" of this well run company is noted in cyberspace and I'm sure there are many on ASF like me that are just waiting for the inevitable .... Based on market cap and fundamentals alone, I personally see this as medium term almost 50% undervalued even based on todays close

 

[hangseng]

LOL Barney, point taken.

To put it more bluntly, I get bored chatting to myself

On a slightly more serious note though, I learn as much from (some) other posters as I do the information I share with others. I would rather not engage the trolls who were kicked of other sites coming here with the same garbage. Thankfully they don't last long here.

This is a classic rags to riches story unfolding IMO. PEN has been the ugly duckling of the market and unloved, even ridiculed on forums and by a few brokers I spoke to in the past. Thankfully I relied more on my own information and ongoing research, rather than their "stick to the ASX 300" view.

Had I stuck to their view, especially some of the picks they indicated, my SMSF would still be floundering as it did under "professional" management.

Through sticking to my conviction that PEN would one day be a producer, and sooner than most of the uranium hopefuls. I have managed to make my super look just that SUPER. Something managed funds never achieved in over 10 years, didn't stop them charging me those ever increasing fees though.

PEN is still a speculative stock, and not without risk, however it is being de-risked rapidly now and will continue to be.

I applaud Gus Simpsons outstanding management methodology of engaging the right people and empowerment. Through his efforts and that of the outstanding people he has surrounded himself with, PEN is now receiving the attention it deserves.

Through my work I get to analyse the risk on many conceptual projects and the related feasibility studies. Entering and increasing my holding in PEN was one of the easiest decisions I have ever had to make.

I now expect an outstanding DFS that will take PEN directly into a positive funding outcome by Gerard Holden. It will be more outstanding than some expect due to the outcome of the RFP submissions due to the increased uranium demand and ever increasing jorc resource and uranium price. The economics of this project are simply going to be outstanding, of that I am in no doubt.

I really look forward to 2011 and beyond, the information flow in 2011 especially

 

[thestevo888]

Trading halt - capital raising... I was expecting some good news before they tried this - ie, mine permit submission, etc... should be interesting to get further details. Thoughts, HS, et al?

 

[hangseng]

This is my view and comes as no surprise at all.

"RESOLUTION 6 SHARE PLACEMENT FACILITY
To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution:

That, for the purposes of ASX Listing Rule 7.1 and for all other purposes, approval is given for the Company to allot and issue up to 250,000,000 Shares at an issue price of not less than 80% of the average market price for Shares on the five trading days prior to the issue of the Shares, to institutional and professional and sophisticated investors and otherwise on the terms and conditions set out in the Explanatory Statement:"
PENINSULA MINERALS LIMITED
NOTICE OF ANNUAL GENERAL MEETING
4 November 2010
Page: 5
Current VWAP .0791
80% = 0.06328

My guess is 6c at least. I would be disappointed if this included free attaching options and it wasn't offered to LT shareholders though. If they get a discount to the sp there should be no free options at all.

Potentially this could raise up to $15,000.000 and reduce the funding requirements. Add in they may have struck a deal via the RFP's and we may be well on the way to the funding required. Gerard Holden would then have an easy task.

It also comes as no surprise to me that this has occurred following the Shaws Uranium Conference and funds roadshow last week.

 

[mr. jeff]

HS I also watch closely, but can't just write a 'hello' here every now and then!

Well after announcing this new capital that PEN will have access to very shortly, and raised at 7.5cps, met by euphoria on the day (are we allowed to use that word here?) it seems that people were happy enough with the run and jumped ship; if anything it could have been expected that PEN would slump to 7.5c and then sit still until the announcement of permitting...

But in my eyes this news is great, the future looks better today for PEN than 3 days ago, and there is still news in the wings.

This large volume that has been put through in the last 5 trading days hopefully has reduced the selling side for PEN now; this may help clear the deck for the expected news. Note that the gaps have essentially been neatly filled already - may be helpful...daily chart.

 

[barney]

But in my eyes this news is great, the future looks better today for PEN than 3 days ago, and there is still news in the wings.

This large volume that has been put through in the last 5 trading days hopefully has reduced the selling side for PEN now; this may help clear the deck for the expected news. Note that the gaps have essentially been neatly filled already - may be helpful...daily chart.

Agree with the sentiment Mr Jeff ... Cap raising puts another $30 mil at the Co's disposal and the Debt Funding gives them another $100 mil if and when required to get the project up and running ......

Not sure about the last candlestick on your chart though .... Todays low was 7.1 cents. Big Charts seems to have it down as low as 6.6 ..... 6.6 does look like the most likely short term support though, and a test of that would not surprise ...... a little short term pain before some longer term gain is my guess.

 

[hangseng]

Delivery of Ross Application: NRC Meeting 4/1/2011

Happy New Year ASF members and PEN holders

Not a bad start to the new year for PEN. Been a long wait but it is almost upon us now.

File attached but it is available on the NRC ADAMS website: http://wba.nrc.gov:8080/ves/
Go to
"Simple Search"
then type in
"strata energy"
then
Do a "sort by date"

This will come up on top of the list as a pdf document...

In part it reads:

MEETING NOTICE
December 22, 2010
U.S. Nuclear Regulatory Commission Headquarters

"Meeting with Strata Energy, Inc., Re: Delivery of Ross Application"
Tuesday, January 4, 2011, 9:00 am

"Strata Energy, Inc., requested this meeting to deliver its application for materials license to construct and operate the Ross In Situ Recovery Project in Crook County, Wyoming."

 

[barney]

Re: Delivery of Ross Application: NRC Meeting 4/1/2011

Happy New Year ASF members and PEN holders

Not a bad start to the new year for PEN.

That is starting to look like an understatement HS !!

Can't fault the management of this Company. They just keep delivering on time .... SP up another 14% today on the back of the Permit application.

Wonder what the SP might do on the day the Permits are actually approved

 

[indeck]

oh wow, i thought it was the approval today not the submission :hide: When is the answer expected?

 

[Miner]

Re: Delivery of Ross Application: NRC Meeting 4/1/2011

Happy New Year ASF members and PEN holders

Not a bad start to the new year for PEN. Been a long wait but it is almost upon us now.

File attached but it is available on the NRC ADAMS website: http://wba.nrc.gov:8080/ves/
Go to
"Simple Search"
then type in
"strata energy"
then
Do a "sort by date"

This will come up on top of the list as a pdf document...

In part it reads:

MEETING NOTICE
December 22, 2010
U.S. Nuclear Regulatory Commission Headquarters

"Meeting with Strata Energy, Inc., Re: Delivery of Ross Application"
Tuesday, January 4, 2011, 9:00 am

"Strata Energy, Inc., requested this meeting to deliver its application for materials license to construct and operate the Ross In Situ Recovery Project in Crook County, Wyoming."

Hangseng

Greetings for a very HNY.
Your consistency and patience have paid off and probably just a begining.
I think you should ask for a margin on the profits the ASF readers are making from your excellent value addition postings.

Job well done and congratulations.
(Joe - you should consider sending bottles of champagane to such quality postings)

 

[hangseng]

Cheers for the kind words Miner. However I believe you know why I do what I do.

I provide information in the hope that others will do the same and in the end we all learn and hopefully have a win.

Not much I don't know about PEN, the uranium industry generally and Wyoming along with PEN's peers. However a lot I learnt from others as well as what I found myself.

As for champers...Mate if Joe was ever to consider such a thing I would prefer he donate to a charity or other worthwhile cause as he saw fit. I don't do what I do for reward, my reward will eventually be the profits I make with PEN, having others here share in PENs fortunes and having the ability to continue to help the destitute Indonesians I have come to love so much. I will be rewarded personally from PEN but I will get a bigger reward seeing the smiles on the faces of those I help.

Yes this is just the beginning with PEN, so much more to come.

Hopefully there will also be many more PEN's...

 

[thestevo888]

Cheers for the kind words Miner. However I believe you know why I do what I do.

Yes this is just the beginning with PEN, so much more to come.

Hopefully there will also be many more PEN's...

So HS are there other stocks you follow as keenly and believe in as avidly as PEN? I got into this one after reading about it on this forum, firstly, and then DMOR - must say I'm pretty happy with it so far! I love the depth and detail of your posts - very keen to know if you see such value in anything else out there at the moment. Thoughts only, I know the rule about recommending stocks to others...

 

[mr. jeff]

HI all,
I know most will be aware, but for completeness of the thread and a cheer to all holders,

7 January 2011
Companies Announcement Office
Via Electronic Lodgement
PERMIT TO MINE GRANTED TO WYOMING URANIUM COMPANY
The State of Wyoming, Department of Environmental Quality ("WDEQ"), has issued the
commercial Permit to Mine (Permit Number 778) for the Uranerz Energy Corporation
("Uranerz") Nichols Ranch In-Situ Recovery ("ISR") Uranium Project located in Johnson and
Campbell counties in the Central Powder River Basin of Wyoming, U.S.A.

Great news and we all know that the (broker advertised) work that PEN has put into this permitting application has been real and shows a diligent and committed management team. Great news.

 

[Agent 99]

Looks as if PEN's going on a tear. Options moving along nicely, too. Glad I got in when I did, nearly a year ago now. Still accumulating at current levels, given the values put on similar stocks but which don't have Gus Simpson's management skills. He and the top brass are heavily invested, too. When you think about it, it's a no-brainer: China WILL be constructing 200 nuclear facilities going forward; United States keen to go nuclear as evidenced by issuing mining permits where appropriate and as a consequence of global warming/higher efficiency/higher energy prices; uranium stockpiles of former Russian nuclear weapons diminishing.

Further announcements await. IMHO, expect to see prices closer to 50c by year's end, if not sooner.

Nulear energy is the way of the future, whether people like it or not.:

 

[hangseng]

Further announcements await. IMHO, expect to see prices closer to 50c by year's end, if not sooner.

Interesting Agent99 and welcome to PEN on ASF. Yes there is a lot of outstanding announcments to come out now and soon.

However, what do you base that figure on if I may ask?

 

[hangseng]

Permitting Status _ PEN

This is now the status of PEN's permitting process. All required permits have now been submitted. It is likely an early permit will be provided to PEN for the DWDW and also early non-process related construction activities.

Te estimated timelines are mine base on the above and PEN's own timeline for production.

 

[indeck]

Definately pleased with PEN, really it's acting much more like a blue chip. Steadily making modest gains week after week.

 

[ironchef]

Wow, PEN is steadily going strong again! Glad I didn't bail on them. I've been holding for 5+ years now hahahaha... Completely forgot about 'em (check the first page of this thread )

Hangseng, you seem to be up to date, can you save me the trouble and spell out what the confirmed deposit volumes are in the mine they've gotten permits for? I've just noticed the close price and am stuck at work 'til late with no time to do the research myself.. You might have the figures on hand.

 

[hangseng]

Wow, PEN is steadily going strong again! Glad I didn't bail on them. I've been holding for 5+ years now hahahaha... Completely forgot about 'em (check the first page of this thread )

Hangseng, you seem to be up to date, can you save me the trouble and spell out what the confirmed deposit volumes are in the mine they've gotten permits for? I've just noticed the close price and am stuck at work 'til late with no time to do the research myself.. You might have the figures on hand.

They don't have permits, all the required permits have now submitted.

PEN currently has at Lance 25M/lbs Jorc resource and an imminent upgrade to this is about to come once the metallurgical testing has been completed. Anyones guess what the result will be but I have spoken to the company and "all holes are mineralised".

You should also ready the two latest analyst reports from BGF Equities and hartleys

http://www.pel.net.au/images/peninsul-134--toojahriez.pdf

The BGF report was sent to share holders email this morning.

 

[ironchef]

They don't have permits, all the required permits have now submitted.

PEN currently has at Lance 25M/lbs Jorc resource and an imminent upgrade to this is about to come once the metallurgical testing has been completed. Anyones guess what the result will be but I have spoken to the company and "all holes are mineralised".

You should also ready the two latest analyst reports from BGF Equities and hartleys

http://www.pel.net.au/images/peninsul-134--toojahriez.pdf

The BGF report was sent to share holders email this morning.

Thanks for the info!