PEN - Peninsula Energy

[jonojpsg]

I agree... if I had another few spare $k I would be dipping in again for sure... I wish I wasn't a broke high school teacher!

Geez mate, I'm a high school teacher, and I'm certainly not broke!! Don't blame being a high school teacher for being broke

Also miner I have to agree with tech here, you are WAY off the mark with your comments and I suggest you might be getting the attention of mods if you're not careful.

tech has put forward a position based on technical reasons, which is eminently NOT personal, or ramping in any way...

It seems there is some interest at these levels and we will see if 9.5 holds.

 

[hangseng]

There was nothing technical about techs question put to me. It was personal and clearly with less than respectable nor intelligent motive.

If he stuck to technical discussion it would be fine. Although his last guess at 8.4 is way off being factual. It ignored 2 others levels of previous resistance. Of which by his own admission becomes support.

I applaud and agree with Miners efforts to get disccusion back to PEN.

 

[nomore4s]

All right everyone take a deep breath and relax before this thread gets out of hand.

The thread has been moving along nicely so let us see if we can continue like that without turning it into an argument over nothing.

Thank you

 

[thestevo888]

Geez mate, I'm a high school teacher, and I'm certainly not broke!! Don't blame being a high school teacher for being broke

.

Well, it's all relative, I guess... not really broke, just no more spare investment capital

and I agree with nomore4s - this has been a fantastic read over the past few months... keep the good stuff coming.

 

[mattryanshares]

Cash flow and activities reports out,

http://imagesignal.comsec.com.au/asxdata/20110131/pdf/01146179.pdf

http://imagesignal.comsec.com.au/asxdata/20110131/pdf/01146179.pdf

Or go to

http://www.asx.net.au/asx/research/companyInfo.do?by=asxCode&asxCode=pen

 

[tech/a]

There was nothing technical about techs question put to me. It was personal and clearly with less than respectable nor intelligent motive.

If he stuck to technical discussion it would be fine. Although his last guess at 8.4 is way off being factual. It ignored 2 others levels of previous resistance. Of which by his own admission becomes support.

I applaud and agree with Miners efforts to get disccusion back to PEN.

Just before I go.

The question was out of curiousity nothing more.
Ive put many weeks of effort with explicit charts into ASF.
There is very little interest in T/A so it seems particularly from the Fundies.
Thats fine---they love the wads of info to churn through.

Although his last guess at 8.4 is way off being factual. It ignored 2 others levels of previous resistance. Of which by his own admission becomes support.

This however is seen as fine---clearly an attack.

There are many many ways of calculating a support or resistance level its not a guess as the abundance of Supply wasnt a guess either.
You have no interest.

Thats fine too I wont waste my breath or time any further.

Ill leave you all to it.

 

[hangseng]

This from the latest report:

"During Phase 2 of the programme all new surface uranium occurrences within the selected drilling areas will be subjected to an initial drilling programme to confirm subsurface extension of the mineralisation and to determine grades."


This from previous Karoo reporting:

"As radiometric surveys can only test the very shallow surface environment (a few cm) a uranium mineralised body covered with a thin layer of sand or soil will give a minimal to non-existent response in the uranium channel. Thin overburden can also dilute a uranium response and make it very weak, highlighting the importance of placing anomalies in context."

http://www.pel.net.au/pdf/080508 Karoo Rasults Final.pdf

Anyone who saw what EXT reported about 3 years ago in relation to this would know why I am highlighting this very important aspect. Beneath this "masked" surface reading could be a massive uranium resource, or there could be nothing at all. I dobt very much it will be the latter, however the former remains to be seen.

The layers of "sand or soil" PEN indicates above can "mask" the subsurface uranium mineralisation, as happened at Rossing. Many argued that was a load of rubbish on other forums, we now know the results at Rossing.

I am not saying this will occur, I am just highlighting that it has the potential to occur and the similarities that should not be ignored.

PEN clearly aren't ignoring this aspect.

 

[hangseng]

Now drilling is underway at Karoo, what will be uncovered in this campaign?


A little history for those that haven't gone back that far:

FURTHER HIGH GRADE URANIUM AND MOLYBDENUM CONFIRMED AT KAROO
Highlights

• Uranium mineralisation confirmed to 9,053ppm (0.905%) U3O8 at Site 22
• Uranium mineralisation confirmed to 1,833ppm (0.183%) U3O8 at Site 49
• Molybdenum mineralisation confirmed to 879ppm (0.088%) Mo at Site 22
• Molybdenum mineralisation confirmed to 965ppm (0.097%) Mo at Site 49
• Priority drill targets confirmed
• Follow up testing on additional radiometric anomalies to be undertaken.

Karoo has massive grades and in addition to the uranium very high grades of Molybdenum (Mo).

Previously reported at Site 29:

HIGH GRADE URANIUM AND MOLYBDENUM CONFIRMED AT KAROO PROJECTS
Highlights

• Assays confirm uranium mineralisation with grades to 21,000ppm (2.1%) U3O8
• Molybdenum grades confirmed up to 2,430ppm
• 7 out of 10 prospects return grades over 1,000ppm U3O8
• Four very high priority drill targets confirmed

I can't wait for the drill results of this current campaign. Maybe you can see why I am also focused on the "masking" aspect.

Before we go rushing out to mortgage everything, the Mo results above were taken from the "assay of twenty three rock chip samples". Although they can be a reliable indicator, the drilling is obviously required to confirm.

The Karoo leases though do have significant historical drilling data.

This is something I have never forgotten:
"Potential to add approximately 50% to the value of the in situ uranium. This significantly impacts on the economics of mining these types of mineralisation"

sources:

http://www.pel.net.au/news___announcements/karoo__south_africa.phtml

http://www.pel.net.au/projects/karoo_region__south_africa.phtml

 

[mattryanshares]

Hi h/s
Any idea what the minimum requires would be to make mining viable at current prices? Then what would be an excellent or above expectations???
What's the benchmark on any fully operational mines that are posting good results???

 

[hangseng]

Hi h/s
Any idea what the minimum requires would be to make mining viable at current prices? Then what would be an excellent or above expectations???
What's the benchmark on any fully operational mines that are posting good results???

Hi Matt, I take it you are referring to Karoo?

Lance is already indicated as economically viable and will only get better.

 

[barney]

Now drilling is underway at Karoo, what will be uncovered in this campaign?


Karoo has massive grades and in addition to the uranium very high grades of Molybdenum (Mo).

I recently cashed in one of my slow movers who were chasing Molybdenum, based on the lack of forward planning by the management .....

"Moly" is simply another string to the bow for PEN ...... In the words of much smarter Investors than I ...... If you are going to back a Spec play .... back the management of the Company !!

I seriously doubt whether PEN will remain a Spec play for any length of time however .... And I'd be curious to hear if any "Spec" investors are more impressed with their Co's management compared to what PEN management have achieved to date.

 

[Megacents]

Been a bit of a charged day on the PEN thread

SP briefly broke my un skilled shelf of 10-10.5cents. Finished the day after auction at 10cents. Now that would have to be good.

Shame tech/a that you may have decided not to post. I enjoyed reading the interpretation of the graph.

Mo is known to be in the Karoo Basin. What is not known is the amount and its effect on the Opex. The Va has a postive effect on the Opex (PFS) at Wyoming. More drilling is needed for that aspect.

Oh by the way did anyone have a smile at that "305 line Km of known stacked roll fronts" p7 4th quater 2010 activities report? Only a small percentage has been explored. So I wonder how much PEN may find when they continue the drilling program over the next few years?

The thing I enjoyed the most today was reading the change that will occur with the Lance JORC, an increase from the inferred to indicated category (important for funding and the DFS, BFS). Now we have to wait for that announcement. I bet there will also be an increse in the measured, just a guess.

Approx. $26M in the bank
Draw facilty of $100M

I still wonder what Holden is up too?

Does any one know that happened the YA draw facility is it still available??

Thanks for any replies

 

[grunta]

I recently cashed in one of my slow movers who were chasing Molybdenum, based on the lack of forward planning by the management .....

"Moly" is simply another string to the bow for PEN ...... In the words of much smarter Investors than I ...... If you are going to back a Spec play .... back the management of the Company !!

Hi BARNEY,

about 20 months ago I went to a AGM in Perth and listened to a briefing on PEN from GUS. He gave a run down on what they expected to achieve with a time line.

I came away from that meeting so excited and commenced to accumulate PEN shares, collected all I could with CAP raisings and now have a nice holding.

Gus has delivered on every aspect of that run down. Without doubt PEN are a specie showing exceptional signs of perhaps becoming a producer in the not to distant future.

Like many others I wait like a 5 year old at Christmas for further fundamental info to be released.

I imagine PEN having a JORC resource of 300 mlb and think what price will the specie be at then?

So far so good and things look very positative. At this stage I can't find any negatives for PEN as they keep ticking the boxes.

What about the increase in price for U308, the amount of new reactors being built and PENS timing to commence production?

Very happy with PENS management BARNEY and look forward to a great 2011.

Regards Grunta

 

[Purd2]

Just before I go.

The question was out of curiousity nothing more.
Ive put many weeks of effort with explicit charts into ASF.
There is very little interest in T/A so it seems particularly from the Fundies.
Thats fine---they love the wads of info to churn through.



This however is seen as fine---clearly an attack.

There are many many ways of calculating a support or resistance level its not a guess as the abundance of Supply wasnt a guess either.
You have no interest.

Thats fine too I wont waste my breath or time any further.

Ill leave you all to it.

Thanks

 

[barney]

I came away from that meeting so excited and commenced to accumulate PEN shares, collected all I could with CAP raisings and now have a nice holding.

Gus has delivered on every aspect of that run down. Without doubt PEN are a specie showing exceptional signs of perhaps becoming a producer in the not to distant future.


So far so good and things look very positative. At this stage I can't find any negatives for PEN as they keep ticking the boxes.


Very happy with PENS management BARNEY and look forward to a great 2011.

Regards Grunta

Cheers Grunta.

Thanks

You are a man of few words Purd.

 

[Miner]

Re: PEN - Peninsula Minerals

Thought that was obvious I hold it.

Just being my normal sarcastic self.

Duck with attitude!!

blast from the past - 2006 .
It is really good to see ho long this thread PEN is in place. Surely there have been lot of well wishers of PEN compared to I joined this thread comparatively recently.

 

[tech/a]

Re: PEN - Peninsula Minerals

blast from the past - 2006 .
It is really good to see ho long this thread PEN is in place. Surely there have been lot of well wishers of PEN compared to I joined this thread comparatively recently.

Traded PEN a few times.

The Two of you seem to think any opinion outside of "PEN is going to be a $100 stock"
is trashing your Fundi analysis.

Ill stay a trader.

 

[hangseng]

One sure as hell, fundamental analysis is the driver of a share price not lines on a chart.

T/A has it's place for both investors and traders, but T/A is an indicator only and is historical by it's very existence.

I will stick to fundamental analysis as the basis of my investments. It takes a lot more effort than T/A, however it takes the guess work and emotion out of it based on sound information and facts.

T/A is great for finding an entry point with a fundamentally sound stock, it is also useful to aid in identifying an exit point for a stock with failing fundamentals.

Yes I prefer to take the hard way and read wads of information and reap the benefits of doing so, including massive taxation benefits of LT investment.

This statement is so ridiculous tech/A...

The Two of you seem to think any opinion outside of "PEN is going to be a $100 stock" is trashing your Fundi analysis.

Whoever stated that may I ask? I know I certainly haven't, nor have I ever seen such an outrageous baseless statement posted anywhere. Or is it simply an over exageration in a vain attempt to make a non-existent point?

All that said, T/A and F/A compliment each other and aren't mutually exclusive. One without the other in my view is akin to throwing darts blindfolded.

 

[mattryanshares]

One sure as hell, fundamental analysis is the driver of a share price not lines on a chart.

T/A has it's place for both investors and traders, but T/A is an indicator only and is historical by it's very existence.

I will stick to fundamental analysis as the basis of my investments. It takes a lot more effort than T/A, however it takes the guess work and emotion out of it based on sound information and facts.

T/A is great for finding an entry point with a fundamentally sound stock, it is also useful to aid in identifying an exit point for a stock with failing fundamentals.

Yes I prefer to take the hard way and read wads of information and reap the benefits of doing so, including massive taxation benefits of LT investment.

This statement is so ridiculous tech/A...


Whoever stated that may I ask? I know I certainly haven't, nor have I ever seen such an outrageous baseless statement posted anywhere. Or is it simply an over exageration in a vain attempt to make a non-existent point?

All that said, T/A and F/A compliment each other and aren't mutually exclusive. One without the other in my view is akin to throwing darts blindfolded.

I wish everyone would just get back to giving insights on the stock and not on others opinions!! LOL Ive sent both you PM's and both of you are good blokes with lots to offer, this should never be personel and im sure it really isnt!

Ive noticed buyers are increasing to sellers so hopefull we will get some more positive movement as a result! it briefly hit 10.5 cents today!

 

[KurwaJegoMac]

One sure as hell, fundamental analysis is the driver of a share price not lines on a chart.

Now this is plain bias and incorrect. The driver of a share price is not caused by fundamental analysis. The driver of a share price is the relationship between supply and demand caused by EVERY type of analysis known to man.

The price you pay for a stock is a combination of fundamentalists, technical analysts, gamblers, dart throwers, forecasters, etc - why? Because depending on the combined view of ALL their opinions the share price will move in the direction held by the majority on a $ basis.

You can be 100% right from a fundamental point of view, but without the majority sharing your view your stock will go down or remain stagnant.

Learn to respect and understand the view of others because fundamentals are not the only driver of share price.

T/A has it's place for both investors and traders, but T/A is an indicator only and is historical by it's very existence.

What a load of hypocrisy! What do you base your fundamental analysis on? Information that is present today or in the past. How is that not 'historical by it's very existence'. Technical analysts do exactly the same, as does every other type of analysis.

I will stick to fundamental analysis as the basis of my investments. It takes a lot more effort than T/A, however it takes the guess work and emotion out of it based on sound information and facts.

You clearly demonstrate your lack of understanding as to what constitutes T/A. T/A requires a lot of effort, equal to that of fundamental analysis. News flash: F/A guess the value of an asset based on current and historic prices. If there was no 'educated guessing' required in F/A then it'd be easy and everyone would be right 100% of the time.

T/A is great for finding an entry point with a fundamentally sound stock, it is also useful to aid in identifying an exit point for a stock with failing fundamentals.

Agreed in part - it's great for finding an entry or exit point regardless of fundamentals. Fundamentals can stay the same but many other factors can influence an entry or exit point. Panic selling/buying due to news headlines is an example - these are ignored by fundamental analysts because the value of the underlying assets still remain the same. You know that information and you therefore exploit it by utilising the value investing principle. So the price can move even if fundamentals don't change.

All that said, T/A and F/A compliment each other and aren't mutually exclusive. One without the other in my view is akin to throwing darts blindfolded.

Very true and spot on. So how about we all stop attacking each others opinions and focus on discussing PEN.