PEN - Peninsula Energy

[hangseng]

Thanks Miner

A few games being played with PEN atm however that buy of 7M at 11 was telling yesterday.

Also not surprising that a few would be exiting at this level, especially anyone who held from the 10/11 highs of 2007. They may be wanting to take the little profit and move on, of which is understandable.

Just a shame they wait so long and then leave the party before the band starts playing and the real crowd joins in

I have seen this so many times, and even done the same myself and I never let myself forget it. I won't be leaving this party until well and truly after the rage begins.

Once again PEN delivers on outstanding news, and to do so yesterday was perfect for me. I have a rager of a birthday, dinner a cup of tea and an early night lol. Not even my usual 2 guiness on my birthday......one word "old"

Have a great day all.

 

[initforthemoney]

So you still think pen has a lot of potential at this level? Personally I just bought into them, so I am hoping that I have made the right choice.

 

[hangseng]

Pick where PEN is now...

This is from a Zn and Au mine perspective but it fits almost any mining junior developing to producer.

From the article I particularly liked this:

"Many stocks lose value in the period between when resources are known and feasibility studies are issued and acted upon, losing value mainly due to time, impatience, and money; cash required for preliminary economic and feasibility programs, at the time of zero cash flow and little or no substantive news.

However, these quality companies are making progress behind the scenes. They are issuing technical reports, upgrading resources and piecing together various project development studies. The time is approaching for patient and shrewd investors to find exceptional value."


Life Cycle of a Mining Share

"Actual case examples."
"In general, there's three ways to profit based on the above cycles; Point 1 - find a lucky junior exploration company that will make a discovery, Point 2 - buy undervalued shares of stock with established resources for cheap and ride it to production, Point 3 - pinpoint a troubled junior producer at the moment of an operational turnaround. The second approach is without doubt safer than the first and has more upside than the third approach given the project is economically viable and management is in place and willing to capitalize on the known potential.


Using the above model to gauge the positioning of a prospect is useful. Many stocks lose value in the period between when resources are known and feasibility studies are issued and acted upon, losing value mainly due to time, impatience, and money; cash required for preliminary economic and feasibility programs, at the time of zero cash flow and little or no substantive news. However, these quality companies are making progress behind the scenes. They are issuing technical reports, upgrading resources and piecing together various project development studies. The time is approaching for patient and shrewd investors to find exceptional value. Which brings us to our case study and its positioning in relation to the above model; Abcourt Mines Inc. (TSX Venture Exchange: ABI chart news) has affirmed to Madison Avenue Research Group its commitment to reopen their 100% owned Abcourt-Barvue Zinc-Silver mine and more."

source: http://madisonaveresearch.com/2008zincmarkets.htm

 

[hangseng]

So you still think pen has a lot of potential at this level? Personally I just bought into them, so I am hoping that I have made the right choice.

Yes I do.

The reason I have not sold one share with an average buy of less than 4c and continued to buy all the way up to 9.4. Why would I when this has just commenced and has the potential to go at least 4 times higher and according to broker research up to 7 or 8 times higher on the back of Karoo and lance expansion.

PEN will shortly be eligible for entry into the ASX300. This permits large funds to by more shares, and I believe that is already starting to happen.

This is by no means a recommendation, it is my personal view now based on over 3 years researching PEN, PEN's peers, the uranium industry, supply/demand aspects, the future of uranium and the regulatory regime of countries throughout the world. In particular that of Wyoming, the most uranium/mining friendly place you could come across.

I have been told for the last 3 years until recently that I was wrong.

Look at the PEN sp now and where it was over the last 2 years, in particular the last 6-12 months. If I am wrong then a lot of others are joining me.

That said, PEN isn't completely de-risked until they have the permits to mine in hand. This now looks like a given and we will know in the not too distant future. However it is the last peg to place.

PEN has now issued all required permit applications. Now we wait.

 

[hangseng]

Actually, make that 11c I just bought another 150,000 at 15:59:56

 

[hangseng]

From the public domain of the NRC ADAMS website:

Ross ISR Project Application for a Permit to Mine and the receipt confirming the application.

More to follow as it comes to hand as I and my fellow shareholder friend (Top 20 holder) follow the application process.

For any who wish to do so themselves: http://wba.nrc.gov:8080/ves/

 

[Purd2]

Thanks HS.

 

[Megacents]

Aquisitions this is the new game that will get PEN investors excited.

Just reviewing the drill permit for Karoo Basin, did they start drilling to mark Hangseng's birthday??

Uranium spot price now about $70, now I wonder how good the DFS and BFS figures will be. Has PEN locked in a possible utility contract or are they being smart and holding out??

In my mind the next 15 months will be worth noting and perhaps retelling the story when I am retired

 

[hangseng]

Aquisitions this is the new game that will get PEN investors excited.

Just reviewing the drill permit for Karoo Basin, did they start drilling to mark Hangseng's birthday??

Uranium spot price now about $70, now I wonder how good the DFS and BFS figures will be. Has PEN locked in a possible utility contract or are they being smart and holding out??

In my mind the next 15 months will be worth noting and perhaps retelling the story when I am retired

LOL...PEN gave me a double gift yesterday. That announcement yesterday was outstanding and just needed a little diseminating to see what may occur.

Read this (link) as well and you will see why PEN is pursuing the Vanadium credits so vigourously. This will account for a much improved BFS by way of reduced Opex, of which is already outstandingly low and economical based on the earlier PFS.

I feel we are about to get some rather special information from PEN and technical in nature. By way of the announcement of an (possibly significant) upgrade in Jorc and results of the metallurgical testing for Vanadium in the new lease zone.

http://www.theaureport.com/pub/na/8396

Courtesy of Purd2, another thinker...

 

[grunta]

LOL...PEN gave me a double gift yesterday. That announcement yesterday was outstanding and just needed a little diseminating to see what may occur.

Read this (link) as well and you will see why PEN is pursuing the Vanadium credits so vigourously. This will account for a much improved BFS by way of reduced Opex, of which is already outstandingly low and economical based on the earlier PFS.

I feel we are about to get some rather special information from PEN and technical in nature. By way of the announcement of an (possibly significant) upgrade in Jorc and results of the metallurgical testing for Vanadium in the new lease zone.

http://www.theaureport.com/pub/na/8396

Courtesy of Purd2, another thinker...

HS and Purd2, what a great read. I wait with bated breath for the core results for PEN'S vanadium. Should add to the already profitable resource going forward.

One sure can see the light shinning bright at the end of the PEN tunnel.

Regards Motty

 

[Purd2]

Another thing I am excited about is a statement Gus made to my friend and I at the Canary event in Melbourne. When we mentioned Uranium1 and Uranerz he referred to them as "real estate jockeys". I thought nothing of it at the time BUT NOW, PEN is issuing announcements themselves referring to the licensing/permitting of these companies nearby.
This to me begs some questions
1. Will the US authorities grant an export licence to ARMZ for Chritensen Ranch?
2. If not...will ARMZ pull out of that arrangement with U1?
3. Is PEN interested in these two newly permitted sites, a question I raise as the word "acquisitions" is being constantly bandied about by the company and the likes of Hartleys. I remember Gus' comment in Melbourne. He must have been aware from early days that these areas could be bought.

 

[Megacents]

Another thing I am excited about is a statement Gus made to my friend and I at the Canary event in Melbourne. When we mentioned Uranium1 and Uranerz he referred to them as "real estate jockeys". I thought nothing of it at the time BUT NOW, PEN is issuing announcements themselves referring to the licensing/permitting of these companies nearby.
This to me begs some questions
1. Will the US authorities grant an export licence to ARMZ for Chritensen Ranch?
2. If not...will ARMZ pull out of that arrangement with U1?
3. Is PEN interested in these two newly permitted sites, a question I raise as the word "acquisitions" is being constantly bandied about by the company and the likes of Hartleys. I remember Gus' comment in Melbourne. He must have been aware from early days that these areas could be bought.

I must say yes and yes and yes.

Why else would they release boring info It is a way to get some thinking beyond the SP and into the real future. There is a good posibility that PEN may become a tier 2 producer of uranium.

Export licence, why would they when they are in such a deficit when it comes to home grown uranium.

I am only guessing and trying to read between the lines, good things are coming besides the rising SP.

Purd2 Thanks for sharing that term "real estate jockeys"

 

[barney]

http://www.theaureport.com/pub/na/8396

Courtesy of Purd2, another thinker...

Purd2 Thanks for sharing that term "real estate jockeys"

Ditto ..... Thanks Purd ........

Can't help but be impressed with the forward planning that the PEN boyz have both calculated and are implementing ........Management of many other Companies could take a leaf out of their book .......

Actually, they should borrow the whole book !!

 

[hangseng]

Happy Australia Day ASF people...

Well PEN gave me an outstanding birthday present and now courtesy of my research colleague of whom I mentioned previously Yuro, I receive this gem!

"License Condition for Toll Milling of Uranium Water Treatment Resins"

Page 3...

"In addition to addressing NRC requirements for licensing new ISR project sites, Strata is requesting a license condition allowing it to process uranium-loaded ion exchange (IX) resins from water treatment operations such as drinking water, mine de-watering, and other similar operations"

This is outstanding news in itself. If Strata/PEN are awarded this additional license then the output from Lance will grow significantly. This to date hasn't been included in the PFS and I am not sure if it is included in the imminent BFS. What I do know is if this license is granted then PEN's profitability will rocket.

This provides for two significant potential outcomes:

1. Lower Opex - of which is already noted as close to the lowest

2. Increased Net profit - enabling rapid advancement of Lance and/or Karoo and/or possibly earlier payback of any funding.

I have mentioned this many times both here and elsewhere that this could potentially occur (although I thought earlier) and the positive ramifications of tolling. Not to mention what it could do for the share price.

Put plainly...This would be output over and above the existing resource!

Yuro, I could kiss you publicly today mate!

See the attached...Go to Page 3

ps. Welcome Motty

 

[svengali]

It is now obvious that the proposed mill is going to be in place by the first quarter of 2012 at the latest, possibly it may be ready by late 2011, people can rabbit on all they like, this a given

It begs the question then, how quickly can this mill be upgraded from 1.5 million lbs to 3 million. Could this be done in say 18 months, we have the funds, actual or available

I say this because the thoughts going around about "toll milling" may then become more pertinent, but of more interest may be this gives PEN an ability to handle product from the Uranium One sites, I'm not conversant with the geography of these mutual sites but think about the scenario of these companies areas combining in some form,(acquisition, patnership, tolling etc.), it may give rise to an "uber" operation and as PEN are holding the vast majority of the "area" that is a a rapidly expanding resource it can only be beneficial for us

I will put on record that I am a personal friend of the poster Purd who has been across PEN with the other original flag bearer Hangseng for many years, their submissions and chats have earned me a rapidly rising share portfolio, and may I say it is a pleasure to be on a civilised discussion area that does not degenerate into a petty, squabling, incestuous site like some others who are outliving their usefulness

One thing is for certain and that is we are in for an interesting and probably hugely profitable 18 months, remember this, (especially the nae sayers), from 25 JAN 2010 to 25 JAN 2011 the ASX rose by .035% and PEN rose by 115%..................Nuff said

 

[Purd2]

Uranium One’s exports from U.S. not allowed

Uranium One and ARMZ lack the license to export nuclear fuel.

According to the U.S. Nuclear Regulatory Commission, Uranium One will not be permitted to export uranium from deposits within the United States after the company comes under the control of Atomredmetzoloto. The Nuclear Regulatory Commission explained that both Uranium One and Atomredmetzoloto do not have the licenses required to ship uranium mined in America outside of the U.S. At the same time, the Nuclear Regulatory Commission approved Atomredmetzoloto’s plans to increase its stake in Uranium One from roughly 23 percent to over 50 percent.

The swap transaction presents definite ramifications for Uranium One’s license to carry on production activities at the Irigaray and Christensen Ranch uranium leaching facility in Wyoming. The deal with the Russian nuclear company also affects the grant of license the Nuclear Regulatory Commission made on September 30 to allow Uranium One to initiate its More Ranch in situ leach recovery project in Campbell County, Wyoming. Among other licenses affected is a materials license of Uranium One that provides the authorization to use tritium sealed sources for well logging. Uranium One’s two other recovery license applications for the Jab and Antelope and the Ludeman projects are under review of the Nuclear Regulatory Commission. Uranium One operates in the United States by way of subsidiary companies, Uranium One USA and Uranium One Americas.

In October of 2010, several members of the U.S. House of Representatives voiced their opposition to Uranium One’s deal with Atomredmetzoloto. Of particular concern was Russia’s work with Iran in building the nuclear power facility at Busher. The congressmen expressed fear that if the deal was concluded, American uranium could either directly or indirectly contribute to the advancement of the Iranian nuclear program. With the decision of the Nuclear Regulatory Commission to allow the asset swap to go forward there is now nothing standing in the way of the transaction.

http://russianamericanbusiness.org/...Uranium-One%92s-exports-from-U.S.-not-allowed

 

[hangseng]

Nice find Purd.

ARMZ won't like this one bit and I would lay money on it they will offload the Uranium One ISR asset in Wyoming.

"Julian Steyn, a partner at Energy Resources International Inc., a consulting firm in Washington, said Uranium One’s assets in Kazakhstan made the company attractive. The U.S. produces about 3 percent of the world’s uranium.

“They didn’t buy it because of the U.S.,” Steyn said. “Kazakhstan is the big gorilla. It wasn’t a cunning, scheming Russian thing."

http://www.bloomberg.com/news/2010-...yoming-uranium-mine-lacks-export-license.html


I wonder who will "aquire" the The Irigaray/Christensen Ranch mine in north eastern Wyoming? Right next door to Lance in the uranium rich Powder River Basin.

PEN have mentioned "aquisitions", now Hartleys have mentioned the possibly of "aquisitions".

PEN has the money to do so, but will they?

 

[Pidg]

Hi Hangseng

Pidg here and thought that I would drop a short line to let you know that all the info that I have accumulated is most appreciated from you and the others who have and still do first -class research.
You are aware of my
particular forte in Sydney and happy for you to give my direct email out to anyone who may want any free background knowledge as a miniscule return on the information that has been posted- it is not a tout for business just the only way I have of some form of personal recompense.
cheers P

 

[hangseng]

Thanks Pidg, great to see you here on ASF. We have some real gem posters here

No problem mate I will do and have already.

Enjoy the ride mate, it is just beginning. Watch closely the developments of ARMZ and the Uranium One assets in Wyoming. I have a feeling they will be on the real estate market shortly.

I am hoping that our very own PEN is going to put their hands up for them, and PEN has the cash to pay for it should they go that way. I am hoping that is what PEN and Hartley meant when they spoke of "aquisitions". Myself and a couple of others here are watching this aspect very very closely.

 

[Megacents]

Re: Uranium One’s exports from U.S. not allowed

Uranium One and ARMZ lack the license to export nuclear fuel.

According to the U.S. Nuclear Regulatory Commission, Uranium One will not be permitted to export uranium from deposits within the United States after the company comes under the control of Atomredmetzoloto.

The swap transaction presents definite ramifications for Uranium One’s license to carry on production activities at the Irigaray and Christensen Ranch uranium leaching facility in Wyoming. http://russianamericanbusiness.org/...Uranium-One%92s-exports-from-U.S.-not-allowed

Thanks again Purd2, this is what I have been trying to find. To me this is the icing on the cake and may well be the reason that PEN is producing before their Lance operations.

Is it possible that a bit of read between the lines maybe in the 4th Quarter report 2010?

Will this be the land/licence that PEN uses with the Holden man's actions?

Just on the water usage, this will be a real bonus for PEN and maybe a view of future operations. In this I mean the way they are performing as a management team anything is possible re reduction in Capex and Opex. PEN's management are not thinking or acting within a square.

Thanks all for the quality posts and sharing.