PEN - Peninsula Energy

[burglar]

PS - if you want to see truly staggering death counts, look up alcohol and tobacco! Death count means very little when it comes to public policy.

"Statistics show that ten out of every ten people will die"

 

[Purd2]

Yes Purd2

Click on the posters name and click on view their profile page. On the LHS in their profile it has an ignore link.

Thaks HS he is in the bin now.

 

[Garpal Gumnut]

I agree that Nuclear is the best option right now. Since when did the public or politicians always choose the best option though? Why should they be irrational on everything else but suddenly find their heads on this issue?

Arguing for what's rational is missing the point when it comes to sentiment shifts if you ask me.

Grant

This is opinion, we need more facts as to why the sp is tanking .

gg

Is there an ignore button on ASF?

yes

In terms of loss of life it seems coal already is by far Mick.

Fossil fuels are far deadlier than nuclear power

"There is no question," says Joseph Romm, an energy expert at the Center for American Progress in Washington DC. "Nothing is worse than fossil fuels for killing people."

http://www.newscientist.com/article...uels-are-far-deadlier-than-nuclear-power.html

and this....

http://nextbigfuture.com/2011/03/deaths-per-twh-by-energy-source.html

For every person killed by nuclear power generation, 4,000 die due to coal, adjusted for the same amount of power produced... You might very well have excellent reasons to argue for one form over another. Not the point of this post. The question is: did you know about this chart? How does it resonate with you?

And yet we have a massive over reaction to a nuclear plant incident that wasn't responsible for all the earthquake/tsunami related deaths in Japan...

Put in a Google search "china coal mine explosion" and see how many people have been killed in China alone from Coal mine incidents. Do they stop buying coal and building coal plants and the bottom drop ouit of shares???? No, and we don't see media reporting coal related fataities, like has just occurred at Fukishima go figure.

We see headlines like this daily:


http://oneplusonedirect.com/power-i...ima-nuclear-unit-as-death-count-rises/852804/

It is good news about the power plant restoration but lets throw in a rise in fatalities (totally unrelated to the power plant) in the same sentence as it will be a far more spectacular headline. Tripe reportintg IMO.

Scaremongering abounds and continues, however reality will eventually hit home and nuclear energy will rebound.

This is opinion, we need more facts as to why the sp is tanking .

gg

Media before Fukushima was scaremongering about Uranium shortages. Now the media is scaremongering about Nuclear disasters.

The media is the same as ever, it just doesn't suit you anymore.

Grant

PS - if you want to see truly staggering death counts, look up alcohol and tobacco! Death count means very little when it comes to public policy.

"Statistics show that ten out of every ten people will die"

This is opinion, we need more facts as to why the sp is tanking .

Please stick to topic ASF style. Inform with facts or analysis.

gg

 

[gnealson]

This is opinion, we need more facts as to why the sp is tanking.

I've given plenty of factual reasons Garpal. To recap, the Uranium bull market was partly media hype and over-exhuberance (as with all bull markets), the Hartley's valuation was inflated, there was never fundamental justification for PEN at 15.5 cents this year, we're currently trading within a rational fair value range (provided by RCR), there's no reason to be sure one way or the other how the aftermath of Fukushima will play out right now, uncertainty typically results in lower prices, currently many reactors are shutdown, many more are having safety checks, some that are planned are already known to be delayed for safety reasons, we don't know if regulators will become more stringent in future but it's possible, there's been a backlash against Nuclear in the media and by the public, the spot price has fallen significantly, the term price has fallen, the uranium indexes and ETFs have fallen significantly, the 'smart money' doesn't seem interested in Uranium stocks again yet - certainly not at the prices seen pre-Fukushima, the 2013 M to M program ending is likely to have less impact than previously thought, the supply gap is also likely to be less than expected due to extra time for new supply to come online.

All these facts have been presented and hardly any have been debated except for trivial nitpicking. So there you have it GG, that's most of the reasons why the share price is tanking. Refer to my previous posts if you want more detail.

Grant

 

[Miner]

Thaks HS he is in the bin now.

thanks Purd2.
It is irnoical that I have put another one in the same bin which makes two from PEN thread .
It is the testing time for all uranium stocks for different reasons.
I am still holding PEN not for anything but for its value and intrinsic strength.

 

[hangseng]

Be interesting at this level of 7.6/7.5.

It has a few times tested here and it is the PALA buy level and took 2 weeks in Dec to breakthrough this level on the way to the highs in March. Will it go down or will it find support here? I am tending to believe support has been found, however the market could do anything now so who really knows.

PEN has defied logic many times before both SP up and down, at the moment there is no logic apart from a negative sentiment to a complete sector. A sentiment not founded on logic or rational thinking, yes GG that is my opinion and one shared by many now.

Interesting times ahead.

 

[gnealson]

PEN has defied logic many times before both SP up and down, at the moment there is no logic apart from a negative sentiment to a complete sector. A sentiment not founded on logic or rational thinking, yes GG that is my opinion and one shared by many now.

We're trading within the value range given by RCR. If anyone disputes that valuation, put forth your rational and logical reasons.

Grant

 

[Boggo]

Some reasonably sized orders going through on the sell side today similiar to this example at 15:46:18.
.

 

[Country Lad]

Some reasonably sized orders going through on the sell side today similiar to this example at 15:46:18.
.

In the last 50 trades before the matchout the sell to buy ratio was 2.1. For the day it was 1.45.

Cheers

 

[gnealson]

Positive announcement (no, I still don't own any shares/options).

The depths are pretty encouraging if I read them correctly. 10-30 metres below the surface. Often drilling is done at an angle as well, so the vertical depths may be slightly less.

DRILLING INTERSECTS HIGH GRADE URANIUM AND
MOLYBDENUM AT KAROO PROJECTS

HIGHLIGHTS

* High grade intercepts from Site 22 included:

DH 06F0802RC from 78.1ft to 84.8ft intersected 6.7ft @ 3,413ppm eU3O8

DH 06F0101RC from 71.2ft to 77.1ft intersected 5.9 ft @ 3,315ppm eU3O8

DH 06F0130RC from 23.6ft to 30.7ft intersected 7.1 ft @ 1,705ppm eU3O8

* RC drilling at Site 22 returns 72 significant intersections from 152 holes

* High grade intercepts from Site 29 included:

DH QFN0034RC from 35.9ft to 42.8ft intersected 6.9 ft @ 1,363ppm eU3O8

DH QFN0109RC from 11.5ft to 24.8ft intersected 13.3 ft @ 529ppm eU3O8

DH QFN0311RC from 6.4ft to 17.2ft intersected 10.8 ft @ 520ppm eU3O8

* Site 29 returns molybdenum grade of 1,044ppm Mo

Peninsula Energy Limited (Peninsula) is pleased to announce further results from the Site 22 and Site 29 at the Karoo Projects in South Africa. The results to date include very high grade Uranium, particularly at Site 22 which has returned 72 significant interceptions from the 152 holes.

Grant

 

[mickqld]

Karoo expected to delineate 90 - 150mlbs U3o8 with initial JORC of approx 30mlbs in the next 6-12 months and at very shallow depths so CAPEX/ OPEX shouldn't be too diabolical. Lance still on target for mid 2012 production with current JORC of 33mlbs on 2 of 13 licenses. Translate that to the potential final delineation of Lance and 100mlbs plus is a real possibility. Currently in negotiations for more Lance product sales. DFS and decision to mine in next month or so. Permits to mine expected by end of year or early next year. Hartleys 12 month price target 16c and rated a buy. 2014 revenues expected approx $112m with $39million profit. I think 8c is looking mighty cheap at the moment IMO.

 

[hangseng]

With sentiment is against PEN of late it seems someone believes it unwarranted and unfounded with 20,581,217 currently bought up to 8.2c. But just my opinion.

Hartleys report out with 12mth target of 16c (15.7) based only only Ross and Barber currently and exploration only at Karoo plus land and cash assets.

What will PEN be worth on further resource upgrades and all permits in hand?

Also another round of Karoo drill results with site 22 now showing up to 3,413ppm readings of uranium and only a very small area currently being drilled at this old JCI site. Also notable is that aren't drilling all of the holes, they are relogging the old JCI boreholes where possible.

Site 29 continuing good results up to 1,363ppm and also Mo of 1,044ppm.

Sentiment will change IMO (as I have stated all along throughout the domssayers comentary) and now Hartleys amongst the many other comentators stating the same.

Karoo results:
http://www.pel.net.au/images/peninsul---maokikeeth.pdf

Hartley report:
http://www.pel.net.au/images/peninsul---oochaixahn.pdf

 

[tech/a]

With sentiment is against PEN of late it seems someone believes it unwarranted and unfounded with 20,581,217 currently bought up to 8.2c. But just my opinion.

Hartleys report out with 12mth target of 16c (15.7) based only only Ross and Barber currently and exploration only at Karoo plus land and cash assets.

What will PEN be worth on further resource upgrades and all permits in hand?

Also another round of Karoo drill results with site 22 now showing up to 3,413ppm readings of uranium and only a very small area currently being drilled at this old JCI site. Also notable is that aren't drilling all of the holes, they are relogging the old JCI boreholes where possible.

Site 29 continuing good results up to 1,363ppm and also Mo of 1,044ppm.

Sentiment will change IMO (as I have stated all along throughout the domssayers comentary) and now Hartleys amongst the many other comentators stating the same.

Karoo results:
http://www.pel.net.au/images/peninsul---maokikeeth.pdf

Hartley report:
http://www.pel.net.au/images/peninsul---oochaixahn.pdf

So you bought at 11c and also 13c
You must be buying at 8c surely?????

If not why not???

 

[hangseng]

So you bought at 11c and also 13c
You must be buying at 8c surely?????

If not why not???

Because I bought at 7.6 and 7.7 if you really must know. I believed that it was at the support just above the PALA buy level of 7.5c and not going lower for that reason alone.

I would also have bought a truck load more at those prices if not for a rather expensive one off family event about to happen.

Maybe you do tech, but I don't have a bottomless pit of funds. However as long as it stays down at these levels I will continue to buy funds permitting. Irrational negative sentiment suits me just fine.

How about some analysis tech/a? Instead of pointless questions.

 

[gnealson]

With sentiment is against PEN of late it seems someone believes it unwarranted and unfounded with 20,581,217 currently bought up to 8.2c. But just my opinion.

Yeah, but keep in mind that another 'someone' must have sold $20 million today, and besides we investors don't concern ourselves with a few pips here and there.

Hartleys report out with 12mth target of 16c (15.7) based only only Ross and Barber currently and exploration only at Karoo plus land and cash assets.

This seems a bit misleading. $312m is attributed to 'Exploration (Lance/Karoo)' and $174m to 'Ross/Barber @ 10%*'.

You still haven't provided us with any reason to choose Hartley's value of future exploration ($300m+) over RCR's value ($100m). Just curious about how you came to the comclusion that Hartley's is correct and RCR is incorrect.

What will PEN be worth on further resource upgrades and all permits in hand?

Rhetoric. Similar to me writing: 'What will PEN be worth if a Reactor in the US suffers a meltdown?' It's not as unlikely as most people think:

List_of_accidents_at_nuclear_power_plants (note the incidents in 1996 and 2002, all in the US)

Also another round of Karoo drill results with site 22 now showing up to 3,413ppm readings of uranium and only a very small area currently being drilled at this old JCI site. Also notable is that aren't drilling all of the holes, they are relogging the old JCI boreholes where possible.

Site 29 continuing good results up to 1,363ppm and also Mo of 1,044ppm.

Agreed. Very encouraging results, but the JORC rules for converting 'pounds in the ground' to dollars in the cashflow statement are there for a reason.

Sentiment will change IMO (as I have stated all along throughout the domssayers comentary) and now Hartleys amongst the many other comentators stating the same.

Sentiment is always changing and these kinds of statements don't add much to the debate. So I'll go one better and provide factual evidence of sentiment shift reported over-night:

Italy scraps nuclear power preparations

Another fact based comment on changing sentiment I'd make is that Hartley's last report in Feb had a 3 month price target of 16 cents. That has now been extended to 12 months, which shows that the sentiment of Hartley's analysts has changed.

Grant

 

[tugga]

When one door closes... Italy and Germany for instance anther door opens. And that door is Russia.

http://www.reuters.com/article/2011/04/19/russia-nuclear-japan-idUSLDE73I1K720110419

Unlike Germany, which has said it will wean itself off nuclear energy, Russia has said it has no intention of curbing its drive for more nuclear power at home and for export.

http://www.reuters.com/article/2011/04/18/us-nuclear-industry-idUSTRE73H0PR20110418

While parts of the developed world might now freeze or even reduce their reliance on nuclear, emerging markets such as China, India, the Middle East and Eastern Europe will continue their nuclear drive.

 

[gnealson]

When one door closes... Italy and Germany for instance anther door opens. And that door is Russia.

http://www.reuters.com/article/2011/04/19/russia-nuclear-japan-idUSLDE73I1K720110419

Unlike Germany, which has said it will wean itself off nuclear energy, Russia has said it has no intention of curbing its drive for more nuclear power at home and for export.

http://www.reuters.com/article/2011/04/18/us-nuclear-industry-idUSTRE73H0PR20110418

While parts of the developed world might now freeze or even reduce their reliance on nuclear, emerging markets such as China, India, the Middle East and Eastern Europe will continue their nuclear drive.

Thanks for the balanced input tugga. It's appreciated.

Grant

 

[Garpal Gumnut]

Thanks for the balanced input tugga. It's appreciated.

Grant

Balance is in the eye of the holder , gn.

A chart from today shows some support at 0.0775 to 0.085, with increasing volume.

PEN is hostage to greater forces than its own good news unfortunately.

If it survives tomorrow it may continue up, otherwise it will fall as I indicated above, dropping further out of it's descending triangle.

It is in the hands of the gods, not opinion nor sentiment.

gg

http://www.google.com//finance?chdn...00002&chls=IntervalBasedLine&q=ASX:PEN&ntsp=0

 

[Miner]

I am unsure if some one already posted this latest report from Hartleys.

Their 12 months projection and rated as BUY

" We have upgraded Peninsula to a Buy with a 12 month price target of 16cps".

 

[mickqld]

Germany saying it is weaning itself off nuclear power. Funny how Chancellor Angela Merkel has argued that Germany needs to keep nuclear energy for now as a "bridging technology" until it has developed more renewable power sources.
Italy putting a moratorium on nuclear power, Only a referendum because they know it will get defeated. They are merely delaying the process and circumventing the referendum till Fukushima hysteria is forgotten.
Neither of these will ever come to pass until a viable alternative baseload power generation resource is found which may be decades away if ever. Meanwhile we continue to choke on carbon emissions while global climate change protaganists argue. Growth of nuclear power is inevitable.