PEN - Peninsula Energy

[joelymoley]

albaby,

It's not a silly quesion. They are not options such as you would have over bhp, cba and other coy's in the "option market". In that market one writes or creates an option, or others do, and then those options are traded on the options market.

PENOC and PENOA are company issued options. They have a life, and are traded on the ASX as regular shares are.

e.g PENOA shortly expires and then the folk who own that have the right to buy PEN shares for whatever it says on the PENOA documents. I don't know. A few cents. But soon.

PENOC is a longer dated option , some years, same deal though, in a few years.

The reason I bought PENOC was that I didn't want to have to put up any more money any time soon, like the poor PENOA indigents will be soon doing. If the share price falls they will be in a difficult situation soon. If it rises they will be laughing. I'm punting if it rises, PENOC will too.

PENOC were cheaper for some reason known only to hangseng and other PEN tragics, tea leaf readers, and godbothering loons.

It's a punt. If I win, I win. If I lose it's not the end of the world. I'll just have a good drop from a cheap cask and a cigar, and examine my reasons for buying PENOC, so that if I win, I might be able to repeat the process, and if I lose, I won't do it again.

btw, ASF is the place to ask questions, and ask them before you put your hardearned out.

I read, believe it or not, more than I post on ASF and it is worth a barrow load of books by so called experts. Since I began reading ASF I am now much richer.

gg

Sorry for another noob question but, I cant seem to find any info about these options (maybe im looking in the wrong place)

How do i exercise the options when i want to?
Where can i find out more info about how these options work (ie ex price and option premium)

Thanks in advance!

 

[hangseng]

Do you happen to also know how many PENOA and PENOC units were issued by the company?

You will find all you require here...

http://www.pel.net.au/investor_info/capital_structure.phtml

and here...

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

 

[Garpal Gumnut]

You may read but taking it in seems to be a failing...


PENOA - Exercisable at 3c by 30th June 2012 (soon??? I don't think so)

PENOC - (cost 1c, I was called a fool for taking up the offer...twice lol, as other "fools" didn't think it was worthwhile) Exercisable at 3c by 30th June 2015


PENOC would make me rather well off to date (if I sold)...and will make me even more so.

Cheers,
Foolish, tealeaf reading, PEN investor

Sorry hs,

You are correct. I was concentrating on giving him advice viz a viz oppie oppies and company issued oppies, not going in to the entrails of oppie dates for PEN.

Now can you explain all this ppm and finding things at feet, and foots, about PEN's uranium. and why PEN is so much better. I did go to coldcrim.com but found the spelling so awful, and the venom so pervasive, that I fled with a headache.

I am a simple soul, and read simply, and am keen to download your lobes on PEN uranium.

gg

 

[joelymoley]

You will find all you require here...

http://www.pel.net.au/investor_info/capital_structure.phtml

and here...

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

Thanks!!

 

[albaby]

gg you are a legend,thanks also to hs,the generosity of some on this forum knocks me out.[Security Group: Company Options
First Listed: 06 Oct 2010
First Traded: 06 Oct 2010
Shares Issued: 465,508,997
Market Capitalisation: 19,551,378
Issuer: PENINSULA ENERGY LIMITED Exp Date 31 Dec 2015]

 

[barney]

gg you are a legend,thanks also to hs,the generosity of some on this forum knocks me out.[Security Group: Company Options
First Listed: 06 Oct 2010
First Traded: 06 Oct 2010
Shares Issued: 465,508,997
Market Capitalisation: 19,551,378
Issuer: PENINSULA ENERGY LIMITED Exp Date 31 Dec 2015]

Howdy Al,
Just to clarify the company's options position:-

As at 11th July, 2011 ........

406,538,244 Options exercisable at 3 cents on or before 30 June 2012 (PENOA)
465,451,409 Options exercisable at 3 cents on or before 31 December 2015 (PENOC)

Plus 28,000,000 unlisted options which are exercisable at various prices from 4 cents to 12.5 cents, on varying dates between now and December 2015

Cheers.

 

[hangseng]

Sorry hs,

You are correct. I was concentrating on giving him advice viz a viz oppie oppies and company issued oppies, not going in to the entrails of oppie dates for PEN.

Now can you explain all this ppm and finding things at feet, and foots, about PEN's uranium. and why PEN is so much better. I did go to coldcrim.com but found the spelling so awful, and the venom so pervasive, that I fled with a headache.

I am a simple soul, and read simply, and am keen to download your lobes on PEN uranium.

gg

Just to get you started a bit of light reading, representing probably about 1% of what I have read in the last 4 years. Some great free websites I once referenced and posted links fo here and elsewhere are now "member only" mainly for the Wyoming Mining Association (WMA). But this is a start...

Enjoy

 

[Garpal Gumnut]

Just to get you started a bit of light reading, representing probably about 1% of what I have read in the last 4 years. Some great free websites I once referenced and posted links fo here and elsewhere are now "member only" mainly for the Wyoming Mining Association (WMA). But this is a start...

Enjoy

Thanks hangseng, I had a quick squizz at one, so I'll buy some mylanter, before heading in to them on the weekend, a lot to digest for a slow reader.

You are a valuable guy to have about.



gg

 

[hangseng]

Thanks hangseng, I had a quick squizz at one, so I'll buy some mylanter, before heading in to them on the weekend, a lot to digest for a slow reader.

You are a valuable guy to have about.



gg

Thanks hangseng, I had a quick squizz at one, so I'll buy some mylanter, before heading in to them on the weekend, a lot to digest for a slow reader.

You are a valuable guy to have about.



gg

Make no mistake,

I am a (calculated) risk taker, high risk tolerance, know intimately the industries I invest in and where I don't totally understand I have access to some very clever people who do....but most of all a tea leaf reader and far right contrarian

With PEN I will either end up a multi millionairre or as I were...
"I STARTED OUT WITH NOTHIN' AND STILL HAVE MOST OF IT LEFT"
http://www.youtube.com/watch?v=113FzU6Uf9U

My pleasure more when you get through that lot and I will try to simplify where I can.

 

[tech/a]

Mate thought of you and for a minute thought youd come over to the dark side and seen the light!

 

[hangseng]

Mate thought of you and for a minute thought youd come over to the dark side and seen the light!

View attachment 43688

You would be mistaken...It would take far more than what has been posted here or elsewhere to get me to sell.

Just a little note...

It would seem PEN has been the subject of shortselling activity on very low overall volume. The shareholder (owner) of the shares is PALA, however PALA has not relinquished real "ownership" of any shares. UBS has under share lending agreement.

Come on tech, you are a smart fellow...What happens when the short selling is done with? i.e. How does the short seller make money?

They sell the shares and then when their target is reached they cover. Inevitably that will occur, just a matter of when and by how much.

Just one big yawn in the journey for me.

I await the "end game" for the $$$,$$$, not the petty pennies in the midde...

 

[skyQuake]

You would be mistaken...It would take far more than what has been posted here or elsewhere to get me to sell.

Just a little note...

It would seem PEN has been the subject of shortselling activity on very low overall volume. The shareholder (owner) of the shares is PALA, however PALA has not relinquished real "ownership" of any shares. UBS has under share lending agreement.

Come on tech, you are a smart fellow...What happens when the short selling is done with? i.e. How does the short seller make money?

They sell the shares and then when their target is reached they cover. Inevitably that will occur, just a matter of when and by how much.

Just one big yawn in the journey for me.

I await the "end game" for the $$$,$$$, not the petty pennies in the midde...

Alternately, they could be shorting stock and buying OAs and OCs, which got really smashed last week. Nice little arb there

 

[Boggo]

Alternately, they could be shorting stock and buying OAs and OCs, which got really smashed last week. Nice little arb there

Not sure what you mean, they are company options with a 3 cent exercise price so they will always be the stock price minus 3 cents (+/- 0.1 of a cent).
When the stock goes down or up they go with it.

Elaborate on the 'arb' bit or have I missed something ?

 

[barney]

Not sure what you mean, they are company options with a 3 cent exercise price so they will always be the stock price minus 3 cents (+/- 0.1 of a cent).
When the stock goes down or up they go with it.

Elaborate on the 'arb' bit or have I missed something ?

The value of the Shares at a 3 cent diferentiation from the Options, is fully factored in. In the past, particularly when the share was firing, it was not uncommon to see the differentiation down to around 2 cents or even lower ......

..... shorting the stock/buying the options while the "values" are effectively neutral theoretically creates greater value when the stock recovers and the level of differentiation reduces.

I notice USB nominees also liquidated holdings from AEE today as well. The U sector is not well loved at the moment.

 

[skyQuake]

The value of the Shares at a 3 cent diferentiation from the Options, is fully factored in. In the past, particularly when the share was firing, it was not uncommon to see the differentiation down to around 2 cents or even lower ......

..... shorting the stock/buying the options while the "values" are effectively neutral theoretically creates greater value when the stock recovers and the level of differentiation reduces.

I notice USB nominees also liquidated holdings from AEE today as well. The U sector is not well loved at the moment.

Yep, esp early july when Harltleys sold something like 40million OCs, it was trading at a 0.3c discount to Intrinsic.

The U sector seems full of fast money atm, there was a little pop when BMN got bid for, but PDN didn't even react and everything else is just getting dragged down along with the rest of the mkt.

 

[Billyb]

Huge volume today, mostly buying as the price shot significantly today from 7.4 to 8.3 cents. Interesting. Not sure what will happen tomorrow but my guess is that the price will go up again.

 

[tech/a]

Nothing has changed from post 1544 for me.

By the way H/S I don't disagree with your
" Make a million or not" stand point.
There are millionaires made everyday from people who stick rigidly to their convictions
Sadly there are far more who fail.

I really do hope you make your million/s
Such conviction is rare to observe and rarer to follow through.

In the meantime I agree this is set for a run.

 

[Donga]

Huge volume today, mostly buying as the price shot significantly today from 7.4 to 8.3 cents. Interesting. Not sure what will happen tomorrow but my guess is that the price will go up again.

Much speculation as to timing of the DFS and hopefully action today is a strong indicator that tomorrow may be the day. Not overly fussed though be good to get some clean air.

Back to ASF to track HS comments while he is suspended from another forum where Upmarket (aka Donga) is an avid follower on the PEN thread as are many others.

Exciting times again for PEN after all the nonsense from Fukushima

 

[Garpal Gumnut]

Huge volume today, mostly buying as the price shot significantly today from 7.4 to 8.3 cents. Interesting. Not sure what will happen tomorrow but my guess is that the price will go up again.

This is a reasonable assumption.

A rising price on large volume finishing at the high, or close to, indicates strength to the long side.

gg

 

[hangseng]

Safe to assume the DFS is upon us shortly. I would also assume traders have taken positions accordingly.

I dare say the "decision to mine" will be also announced along with the DFS. Fundamentally this announcement I believe will be very positive and second only in importance to permitting.

All that remains to be seen is if the gains from the announcement hold or not and how much the sp is re-rated.

Just one more addition to this long journey. Yes tech, this will potentially be A life chnger for me and 4 others I am aware of, one with much larger holdings than me. We have all ridden out the storms and continued to slowly accumulate on each negative event, all unrelated to PEN's activities.

The "end game" is nearing but not over by any means.

Tecnichally, this is probably the easiest TA call to date. High volume, rising sp and breaking a key resistance point. Now sitting on the next resistance ready to break through. If 8.7 breaks and holds then I expect another visit to the teens.

This will be a wild ride no matter what happens, of that I am certain.

Good luck to you all no matter your trading persuasion. Will gg win the July comp?

Cheers
HS