PEN - Peninsula Energy

[tech/a]

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.

Means absolutely bugger all.
Volume will move AT MARKET.

 

[Miner]

Means absolutely bugger all.
Volume will move AT MARKET.

It reminds me of my school teacher who often used to say

"When a cat gets angry because of its failures it can not do any thing but scratching on the wall under desperation and frustration. But please do consider it is only the temperment the Cat is basically harmless " .

No further comments

 

[barney]

Volume will move AT MARKET.

With that in mind, what is your interpretation of what happened at the 14 cent Price Level today?

Means absolutely bugger all.

Have to disagree with you on that one tech (and not just because we lost Lotto:


1) Monday was a high volume day .... Close at 14.5
2) Tuesday tested Mondays Range on lower volume

Today would have been telling if it followed Tuesday's lead, but instead,

a) We opened with solid volume at 13.5
b) Basically bypassed the 14 cent level (Bullish)
c) Had strong trading at 14.5 cent level
d) Had stronger trading at 15 cent level (Bullish)

I'm not really seeing why you give no creedence to the 14.5 level?

 

[tech/a]

Volume will move AT MARKET.

Is there something about "AT Market" you Dont understand?
Volume sitting at levels has little meaning----that which hits market does.

Volume that blasts through a level of in market buyers OR sellers
will come from outside of the buying and selling depth.

Reading that which has been placed in the auction has little to no bearing on where price will trade.
If you look at depth this morning it will be vastly different to last night.
If the DJIA fell last night it would be very different again.

Supply AND demand will hit AT MARKET.
The only time it doesn't is at Auction.

Miner

You IDIOT
I'm a DUCK

 

[chopper]

Is there something about "AT Market" you Dont understand?
Volume sitting at levels has little meaning----that which hits market does.

Volume that blasts through a level of in market buyers OR sellers
will come from outside of the buying and selling depth.

Reading that which has been placed in the auction has little to no bearing on where price will trade.
If you look at depth this morning it will be vastly different to last night.
If the DJIA fell last night it would be very different again.

Supply AND demand will hit AT MARKET.
The only time it doesn't is at Auction.

Miner

You IDIOT
I'm a DUCK

Good stuff tech/a, I read your stuff with interest. Have you looked at Zambezi Resources? It has been going very well the last couple of days.

 

[tech/a]

Have you looked at Zambezi Resources?

NO But

Interesting. I like it.

 

[hangseng]

Draft Permit for 5 DWDW has been issued, see attached.

Great news as once finalised it will permit PEN to commence construction at Ross.


Moving right along...

 

[boff]

Draft Permit for 5 DWDW has been issued, see attached.

Great news as once finalised it will permit PEN to commence construction at Ross.

Moving right along...

Nice one H - thanks for the info, much appreciated.

 

[Miner]

I am surprised if it was not reported at thsi thread earlier
id=29453&jmid=4779&j=258824076&utm_source=JangoMail&utm_medium=Email&utm_campaign=WNN+Daily%3A+States+sue+NRC+over+on%2Dsite+waste+storage+%28258824076%29&utm_content=duttafamily%40gmail%2Ecom

Peninsula signs uranium sales agreement (published in WNN )
16 February 2011
Following swiftly on the heels of the recent announcement of an expanded resource base at its Lance uranium projects in Wyoming, USA, Peninsula energy has entered into a sales agreement to supply 1.15 million pounds of U3O8 (442 tonnes U) to "one of the largest producers of energy in the US." The terms of the contract specify an "escalated fixed price" for the supply of a "fixed quantity and term." The weighted average price is said to be consistent with the average term price used in the project's pre-feasibility study. In a statement made in July 2010, Peninsula predicted "life of mine average C1 Cash operating costs of $14 per pound U3O8", and a net present value after tax of $162 million. Peninsula recently announced an upgrade to the resource at the Lance projects, with some 33 million pounds of U3O8 (12,600 tonnes U) now identified. Last month, Peninsula submitted an application to the Wyoming Department of Environmental Quality for a permit to construct and operate an in-situ leach (ISL) facility, which is currently scheduled to start operating in 2012.

 

[Miner]

Is there something about "AT Market" you Dont understand?
Volume sitting at levels has little meaning----that which hits market does.

Miner

You IDIOT
I'm a DUCK

Tech/A

For a change I should complement you this time.

You were 200% right and a a GENIUS. I am an IDIOT because I failed to recognise your geniusness, chose to read your postings (and waste my time) and even interacting with them. Congratulations my friend.

Now I am learning from a DUCK. I will hide your postings henceforth, refrain reading them and will move on as a fundi. Rest assured I will not reply any of your threads henceforth saving from ulcer in my stomach.

Sorry PEN holders for this unrelated message.

Good luck on PEN holding and tradings.

 

[barney]

Reading that which has been placed in the auction has little to no bearing on where price will trade.

Now just so we are on the same page here tech ......

You do realise that the Volume and Price Levels I posted yesterday were End Of Day levels for the day .... ie They were the actual levels traded during the day .... not sitting in the Market Depth

 

[tech/a]

Now just so we are on the same page here tech ......

You do realise that the Volume and Price Levels I posted yesterday were End Of Day levels for the day .... ie They were the actual levels traded during the day .... not sitting in the Market Depth

Sorry NO I didnt know or recognise that.
Interesting stats.
Where do you get them?
14.5 and 15c are now the new 11-11.5c

 

[barney]

Sorry NO I didnt know or recognise that.
Interesting stats.
Where do you get them?
14.5 and 15c are now the new 11-11.5c

I figured that must be the case ........ You were starting to worry me with all the "At Market" banter. It just didn't make any sense to me why you were serving me up when I was giving sensible info

Anyway, as I type, the buy orders are being pulled at 14.5.

This may give the large holding traders room to bump this around a bit, so the resilience of the smaller traders might be tested in the short term. Had to happen sooner or later.

re the stats .... I just put the course of sales data into excell and sort/add the price levels ..... those stats could tell an interesting story over the next couple of days

 

[tech/a]

Actually what your doing is similar to a degree to "Market Profile"
What your showing is the "Value area"--- in MP terminology

This means price is likely to fall back to it at times of retracement.
The next day another Value area is established unless you get like the 11-11.5c level where you have multiple levels recorded.

Hence the closest is the most likely to hold and the Strongest is the hardest to break through or breakaway from.

 

[hangseng]

I am surprised if it was not reported at thsi thread earlier

Peninsula signs uranium sales agreement (published in WNN )
16 February 2011

I have to leave something for other posters miner

The significance of both of these announcements will become apparentand soon.

When the DWDW permit is issued not many realise that PEN will immediately begin construction of same and shortly thereafter they will commence construction of the main plant.

The DWDW permit is the most significant permit besides the main operating permit.

The announcement you posted is significant to both the DFS and funding.

I now await the outcome, of which IMO is inevitable.

 

[barney]

I have to leave something for other posters miner

Happy to oblige Hang.

Karoo is showing early signs of becoming a bit of a monster:taz:

Highlights:
• Re-Logging of historic Union Carbide holes confirms intervals of thick, high
grade uranium mineralisation at Site 29
• A total of 20 significant intersections (>0.15 grade x thickness ft% eU3O8)
achieved to date
• Best intercepts include:
• 7.0 feet @ 1,522ppm eU3O8
• 6.2 feet @ 1,506ppm eU3O8
• Reverse Circulation Drilling commences on Site 29 to assess molybdenum
mineralisation
• Site preparation has commenced on Site 22 prior to re-logging and drilling
program

 

[mattryanshares]

Happy to oblige Hang.

Karoo is showing early signs of becoming a bit of a monster:taz:

Highlights:
• Re-Logging of historic Union Carbide holes confirms intervals of thick, high
grade uranium mineralisation at Site 29
• A total of 20 significant intersections (>0.15 grade x thickness ft% eU3O8)
achieved to date
• Best intercepts include:
• 7.0 feet @ 1,522ppm eU3O8
• 6.2 feet @ 1,506ppm eU3O8
• Reverse Circulation Drilling commences on Site 29 to assess molybdenum
mineralisation
• Site preparation has commenced on Site 22 prior to re-logging and drilling
program

The thing that struck me is this is only 7 ft down? This is planned to be an open cut mine to isnt it??? You'd nearly did that out with a shovel!!

 

[prawn_86]

The thing that struck me is this is only 7 ft down? This is planned to be an open cut mine to isnt it??? You'd nearly did that out with a shovel!!

7ft is the length of the intersection, not the depth. As far as i understand it, haven't read the actual ann but thats how it usually is

 

[Miner]

I have to leave something for other posters miner

The significance of both of these announcements will become apparentand soon.


I now await the outcome, of which IMO is inevitable.

You bet HS . I am posting it for you as you must be too drunk after continously cleaning your throat with bottles of Granage and other fundies.
http://asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=PEN&timeframe=D&period=W
Also see Hartley report on 16 Feb .

tech chart will not show it but the level of uranium grade published today at ASX is extra ordinarily high. As a comparison Yeelirrie Grade owned by BHPB Uranium as reported in WMC report available from public domain is about 1083 ppm max, BMN is about 580 ppm and PEN upgrade far better than that.

If not already PEN will shoot up this morning again (that means HS will top at the tipping competition as well)

 

[mattryanshares]

7ft is the length of the intersection, not the depth. As far as i understand it, haven't read the actual ann but thats how it usually is

Oill by the looks of this its only 20m and 13 m??? Bob cat depth,



Site 29 QFN0013 23.0 23.7 0.7 2.3 1517 0.35
Site 29 QFN0034 11.1 13.2 2.1 6.9 1522 1.05