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PEN - Peninsula Energy

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I'll post this here as its related to PEN if its in the wrong spot please just PM me and i wont do it again.

I accumulated 140000 Pen shares for an average cost of .103 and sold them this morning for .135 a profit of $4492.00

I then bough 180000 Penoa at .105 so in essense i improved my holdings in Pen by 40000 shares for a cost of about $50. I bought Penoa as they were cheaper then Penoc. I also have 125000 Penoc.

Now i plan on holding Pen long term so i think this was a good trade on my part.

Ive got about 90k capital losses so wont pay any tax.

Was my decision good bad or otherwise??
 
OK Barney we're in!

Bought 2 games so we have one each---Identical numbers.

BUT THERE'S MORE

PLUS
2 consecutive weeks!!
Just incase they stuff up the draw this week they have a chance to get it right next week.

PLUS
Here are the numbers so everyone can barrack tonight!!!
 

Thanks for that tech ..... I almost thought I was gona get a set of steak knives there for a second!!

Now any chance of bumping the Sp back over 14.5
 
barney said:
Thanks for that tech ..... I almost thought I was gona get a set of steak knives there for a second!!

Now any chance of bumping the Sp back over 14.5
Click to expand...

Sure Ill use my winnings!
 

That may or may not have been the correct trade I cant comment as I dont trade options but you have made some doosies
 
breaker said:
That may or may not have been the correct trade I cant comment as I dont trade options but you have made some doosies
Click to expand...

These option trade exactly like shares.

ASX code, Penoa and Penoc

Penoa expires June 2012 and costs 3 cents per share to convert to a full share.
Penoc expires June 2015 and costs 3 cents per share to convert to a full share.

No my think was i always intended to hang on long term with Pen.



So by selling 140000 Pen shares at 13.5 cents allowed me to purchase 180000 shares of Penoa.

Now lets say i hung onto the Pen shares until they doubled or were 27 cents. I'd of made 140000 times 13.5 = $18900.00

But with the Penoa shares id of made 180000 times 13.5 = $24300 sure the option would only be worth 24 cents but im in front!

Or to double my money with the Penoa the share price of Pen only has to reach 24 cents a whole 3 cents earlier than if it was the full share price of 13.5 cents.

The risk is if it drops ill loose more but im in this for the long haul and believe im now in a better position.

Note, The 90K in Capital loss is thanks to a financial UNadviser, Managed funds and the GFC.
Hope all the above makes sense, if you want to discuss maybe PM me as that way we wont get to far off track with Pen, though this is still Pen related obviously.

Also if the SP drops with Pen it drops at .005 increments.
When Penoa drops to .100 the increments are then .001 this allows me to set up stops more to my likeing!!
All of the above is the ramblings of a newbie who has thought it through the best i can, would like to hear suggestions from experienced traders if possible.
 
mattryanshares said:
These option trade exactly like shares.

ASX code, Penoa and Penoc.
Click to expand...

All you have said here is true ,,,... as long as PEN SP stays up.
Not to rain on your parade, but I pose as an example ...

EXMOA, no buyers, will possibly expire worthless in Dec 2012
 
burglar said:
All you have said here is true ,,,... as long as PEN SP stays up.
Not to rain on your parade, but I pose as an example ...

EXMOA, no buyers, will possibly expire worthless in Dec 2012
Click to expand...

So worst case i pay the 3 cents and convert them to full shares and im in exactly the same boat as if i bought the full share in the 1st place???

Or is there some technicallity where i may not be able to convert to a full share??

Just checked exmoa and exm and both are fairly worthless? If Pen was to drop to 3 cents then Penoa would be worthless but i bought penoa 3 cents cheaper so i guess its all relative??
 

EXM is currently looking worthless, but wasn't always the case.


And PEN is different!! Right!!?
And yes, it's all relative!

Just happy you are aware of the pitfalls!

burglar
 

Nice thought but liquidity will kill you.
It will become very gappy.
 
mattryanshares said:
... Was my decision good bad or otherwise??
Click to expand...

On probability, I would say good!

My long term experience with options has been a roller coaster ride ...
an enjoyable learning experience ...
but not profitable.
I was hoping that they may still become profitable,
never know your luck in the big city.

One person I had heard about, was making good money on options.
Next thing he took everything out,
and looked for something less stressful !!
 
Pen Signs Uranium agreement

http://imagesignal.comsec.com.au/asxdata/20110216/pdf/01151280.pdf

The terms of the sale agreement will see Peninsula supply U3O8 over a period of 7 years.
Production is targeted to commence at the Lance Projects in 2012 and build to 1,500,000 lbs
U3O8 per year (with a plant capacity of 3,000,000 lbs U3O8 per year).
Peninsula’s Executive Chairman Mr. Gus Simpson said “The agreement is an important
milestone for Peninsula and the Company plans to conclude sales to other tier one utilities to
ensure that both the price and quality of partner are optimized.”
 
Cant be a bad thing for a company wth a market cap of approx $275m to do a deal worth around $75m over 7 years can it?

They have sold 1.1mt (3%) of their current certified resource of 33mt. Leaves a lot of scope for future growth of company and shareholder value doesnt it?
 
Just hit 15.5 cents????

Where's tech and barney?? Or did they win lotto last night??

maybe that was what wiped 15 cent mark????
 
mattryanshares said:
Just hit 15.5 cents????

Where's tech and barney?? Or did they win lotto last night??

maybe that was what wiped 15 cent mark????
Click to expand...

Hah .... I wish! ..... we had it in the bag until they started pulling out the wrong numbers



Been out for a while ..... course of sales has been interesting. A couple of big buy orders Line Wiped 15 .....

Then the supply "appeared" to come back to the buyers at 15 .....

Happy to be a buy/holder on PEN, but watching the large traders/accumulators is very enlightening
 
An update for those who like to use statistics as part of their technical analysis ...

16th Feb .......

Price Level .... Volume ...........

13.5 ............ 6,105,220

14 ............... 4,829,794

14.5 ............. 22,267,656

15 ................ 30,660,379

15.5 ............... 2,199,814

On paper, that makes 14.5 look pretty solid.
 
there seemed to be a fairly significant number of buyers (8-10m) at 14.5 throughout the day. Seeing so many at 15 is encouraging.

I was long on PEN but sold out expecting the retraction from 13 to 10 which didnt happen, day traded it for a little while but now i'm planning on keeping it for awhile. Definately my favourite stock :grinsking
 
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