PEN - Peninsula Energy

[hangseng]

I have a question regarding the recent ann on the introduction of PEN to the S and P All Ords Index. I realise that entry into the ASX 300 allows investment firms to acquire a greater percentage of PEN as it is still considered a speculative stock. But what effect does entry to the All Ords Index have?

Hi chesteiger, thanks for the kind words.

Basically it has the same affect in that funds can now buy PEN albeit at lower percentages, dependent on each funds invetment limitations. The ASX300 will permit higher percentages, as will the ASX200, ASX100 and ASX50.

If it wasn't before it will now be on fund managers watch lists, as the next step is entry to the ASX300. PEN must hold the required market cap for at least 6months to gain entry to the ASX300. Already the market cap is high enough, however PEN hasn't had that for the required 6 month period.

Funds will love the liquidity of PEN, an often overlooked benefit of having a high number of shares. Stocks with low liquidity are often overlooked, unless they provide good dividend returns and long term capital growth.

PEN won't be providing dividends any time soon, but offers potentially very high short, medium and long term capital growth with excellent liquidity.

The games being played at the moment indicate to me PEN is already in the control of a large player. As long as the top20 keeps increasing as it has then we can be satisfied accumulation is the objective.

I trust that helps generally with your question.

As an example by the way.
SDL rose around 10 times higher with entry to the ASX300, I was lucky enough to have bought way before it happened at around 8c and it was great to be in rather than out. There was other factors as well that contributed to the meteoric rise to over 80c, including appointment of George Jones to the board and the late Ken Talbot investing a massive sum into SDL. However entry to the ASX300 resulted in a notable significant rise.

 

[Miner]

Hey all,

This is my first post on this forum, however I have been following the activities of this thread for the last 6 months.

I have held PEN for around 18 months and am very happy with the progression of this stock. A freshie to the stock market, I did plenty of research prior to committing to PEN when it acquired it's Lancing project. I just want to thank everyone here for the insightful information that has been provided, the fundamental perspectives of H/S, Miner, Barney, Megacent and co has been enlightening. The T/A and charting of Tech/A has also been extremely educational.

I have a question regarding the recent ann on the introduction of PEN to the S and P All Ords Index. I realise that entry into the ASX 300 allows investment firms to acquire a greater percentage of PEN as it is still considered a speculative stock. But what effect does entry to the All Ords Index have?

Keep the conversations up, I am sure I speak for all when I state that 'your knowledge and expertise are greatly appreciated by all viewers, especially those that are too scared or shy to leave a comment'.

Go PEN

P.S: Gong Xi Fa Cai to you too HangSeng!!

Dear Chensteiger

Welcome to your first posting and thanks for your very thoughtful posting.
Sorry I did not visited ASF site for last few days due to my day to day work which pays my bill !
However I noticed HS has already responded to your query.

This post today is to thank and welcome you. I appreciate to see you have mentioned my name as contributor for PEN. But to be perfectly honest, I give the credit to HS and I do not deserve any credit for significant posting on PEN as I was only following in line with his beliefs and thoughts with some additional research. HS is the show for PEN just like Condog is for AUT and EKA, Agentm for ADi, BSEBS for BKP .

When FMG started there were lot many non believers and now it is a darling for many including those non believers including Bell Potter Securities (Mr Q of BPS to be more specific). It is all history and I was unfortunate not to buy FMG due to commercial agreement when time was right

But I am convinced with several studies that PEN is going to be a mini FMG and would try to stick with it no matter what some of the techies have posted here .

Cheers

Thanks

 

[tugga]

How many more months do we need to wait before we are embedded in the ASX300?

 

[tech/a]

Dont have a problem holding PEN just a matter of getting it set at a good price (If your late on the action like I am.)

Click to expand

 

[TabJockey]

I think your dreaming at 9.5c I would be very surprised if it was sold to that.

 

[ColB]

Dont have a problem holding PEN just a matter of getting it set at a good price (If your late on the action like I am.)

Click to expand

View attachment 41744

9.5c??? The best you will do is 12.5c Tech. Get in while you can, it is going to bounce back to 14.5c in the next couple of days

 

[barney]

Dont have a problem holding PEN just a matter of getting it set at a good price (If your late on the action like I am.)

Click to expand

View attachment 41744

9.5 eh Tech ..... Its only fair I give you the chance to get me back .... plus you would be getting one heck of an entry ...... I'm in .... 18.5 cents before 9.5 cents


Things in your favour:-

1) 9.5 is a Major support level and not totally out of the question if the Big Guys want to play hard ball with the share price to clean out some of us little guys ...

2) General market looking a bit skittish


In my favour:- See chart ...

3) "A" 50% level of major move = 10 cents (proven)

4) "B" the 50% retracement of the latest move = 12.5 cents (not proven, but solid atm) . If we extend the intermediate move from the the current retracement at 12.5 cents, we get an extension to around 17.5 cents


Lets go for 10 X $2 Lottery tickets this time ... Those Lotto balls are rigged :

 

[chensteiger]

Hey all

Thanks for the welcome

My 2 cents worth -

PEN is looking strong is a skittish market, all ords has been down around 2 - 3% in the last week or so from its high of 5000+. In the last 3 days, PEN's resistance of 0.13 has been constantly tested, however as of now, the demand has soaked up the supply and the level is holding well. The news of entry into the S and P All Ords index will likely give greater exposure of PEN to the general market. If nothing else a bit of free advertising is never a bad thing.

However, from a weekly candlestick charting point of view, a Bearish Three Outside Down Pattern has formed. If PEN ends this week at lower than 0.125 then that is a confirmation of a downward reversal.

I am thinking of putting a sell trigger at 0.12 if 0.125 resistance wipes.

Go PEN.

 

[breaker]

I see 13 as support and a bottom reversal pattern

 

[tech/a]

If you look hard enough I can see Micky Mouse.

 

[barney]

WDEQ RELEASE DRAFT DEEP DISPOSAL WELL
PERMIT FOR LANCE URANIUM PROJECT
Peninsula Energy Limited (Peninsula) is pleased to announce that it has been advised that the Wyoming Department of Environmental Quality (WDEQ) has informed the United States Environmental Protection Agency (USEPA) that the application by Peninsula’s wholly owned subsidiary, Strata Energy Inc. for an Underground Injection Control (UIC) Class 1 area permit is complete and technically adequate.

I think Gus Simpson may have had a few jam sessions with "Bachman Turner Overdrive", cause he just keeps "Takin Care of Business"

Looking forward to the final permitting in due course

 

[hangseng]

If you look hard enough I can see Micky Mouse.

You will find him and his mate daffy duck at 9.5c I am sure lol.

Seriously though tech/a, no chance in hell is that going to occur without a major market crash. There isn't one fundamental (or technical) reason why it would occur otherwise. In fact there are so many imminent reasons fundamentally why it won't occur and it is more likely to head to the 20c Fib extensions as I displayed recently.

Support at 12.5 has proven solid in very poor market conditions since the 21/2/2011 stochs displays well oversold on the daily chart, OBV continues to rise and buy volume has increased again. How on earth do you believe 9.5c is going to occur?

 

[tech/a]

I'm glad you enjoy my Quackery!

While I dont expect a crash I do expect a sizable correction.
When is not exactly clear it could be in the making now.

PEN
As an individual stock may well fair better than others infact I would expect it to.
If resources continue to rise or hold then this sector will fair well.
But as you know if there is a down turn and we see commodities come off---traders are skittish---they remember the GFC decimation of thier portfolio's well---so I never underestimate the fear of a crowd all running for the exit.

Must go Fog Horn Leg Horn is shouting drinks!

 

[barney]

General market looking a bit skittish

PEN is looking strong is a skittish market

---traders are skittish---

We must have all had the same English teacher :


Todays price action.

PRICE LEVEL ....... SHARES TRADED

13 ....................... 3,498,281

13.5 .....................15,886,585

14 .........................6,427,192

 

[maximusnz]

Looks like there is Volume based at 13.5 cents. This Company looks good, lets hope for the best

 

[barney]

12.5 cent close today, but the bulk of trades were around the 13 cent level again ...

A bit of de-risking going on in the General market which looks almost skittish !!

Todays Price action:-

Price ............ Shares Traded

12.5 ..............2,506,500

13 ....................7,508,062

13.5 ..................6,594,136

14 ....................202,104

 

[barney]

12.5 cent close today, but the bulk of trades were around the 13 cent level again ...

A bit of de-risking going on in the General market which looks almost skittish !!

Todays Price action:-

Price ............ Shares Traded

12.5 ..............2,506,500

13 ....................7,508,062

13.5 ..................6,594,136

14 ....................202,104

A drop under the 12.5 support level today. Not ideal, but totally predictable in the current market.

22 odd million shares traded with over 15 million traded in the first half hour.


Todays Price action:-

Price ............ Shares Traded

12 ....................... 14,062,125

12.5 ..................... 8,781,928

 

[BrightGreenGlow]

Will the Japan Nuclear problem hinder PEN's SP on Tuesday? I would imagine so.. thoughts guys?

 

[boff]

Will the Japan Nuclear problem hinder PEN's SP on Tuesday? I would imagine so.. thoughts guys?

Do you mean Monday?
I am very worried about this one holding up over the next few days. It'll be interesting to see how the uranium spot price holds up as well.
I am expecting a sharp sell off this morning in PEN, and I will probably sell as well, and look to buy back in under 9.5c in the next few days.
Today's announcement by PEN seems a bit of knee jerk (understandable), but to be clear they don't have a permit to mine, they have confirmed that the paperwork submitted is complete.

If the reactors in Japan hold up well, with no major leaks, it could be interpreted as vindication for the safety of nuclear power. Lessons have been learned, etc. However, no matter what happens, nuclear power will have a uphill struggle for the next few years (outside of China perhaps).

 

[Miner]

Do you mean Monday?
I am very worried about this one holding up over the next few days. It'll be interesting to see how the uranium spot price holds up as well.
I am expecting a sharp sell off this morning in PEN, and I will probably sell as well, and look to buy back in under 9.5c in the next few days.
Today's announcement by PEN seems a bit of knee jerk (understandable), but to be clear they don't have a permit to mine, they have confirmed that the paperwork submitted is complete.

If the reactors in Japan hold up well, with no major leaks, it could be interpreted as vindication for the safety of nuclear power. Lessons have been learned, etc. However, no matter what happens, nuclear power will have a uphill struggle for the next few years (outside of China perhaps).

you seemed to have predicted correctly.
PEN dived down.
I put a large buy order at 9.8 thinking it will never come and forgot about it. I also failed to check the market this morning for the announcement as I was probably over confident.
the buy order got executed and PEN kept on going north .