PEN - Peninsula Energy

[happytown]

Re: PEN - Peninsula Minerals

as rockingham alluded to (from the asx ann from pacmag dated 06/02/07):

"...

As previously foreshadowed, in order to focus on its advanced copper-molybdenum assets, PacMag is progressing negotiations regarding the possible divestment of the Company’s uranium portfolio, including this Wyoming uranium project. The consideration for any divestment will include a substantial number of ASX listed shares, the majority of which the Company would intend to distribute to PacMag shareholders in-specie, subject to shareholder approval. The Company will release further details on the divestment should all pre-conditions be met, on execution of binding agreements.

..."

cheers

 

[marc1]

Re: PEN - Peninsula Minerals

This is definately it, PEN is going to be huge people.....Uranium assets in the US and Sth Africa........I am so excited.

See the PacMag ann:

06 Feb 2007 PacMag secures Wyoming uranium project

In part.....

KEY POINTS
• PacMag has secured exclusive rights to portions of the advanced Sundance uranium project in Wyoming USA, including major parts of the Oshoto uranium deposits.
• Historical drill intersections from the area acquired include; 3.8 metres (12.5 feet) @ 0.243% eU3O8, 3.5 metres (11.5 feet) @ 0.159% eU3O8, 6.2 metres (20.5 feet) @ 0.083% eU3O8 and 9.1 metres (30 feet) @ 0.056% eU3O8, with local vertical stacking of uranium roll fronts.
• Previous trial mining has demonstrated that the Oshoto uranium mineralisation is amenable to in-situ leaching. Wyoming is host to several former and currently operating uranium mines owned by companies such as Cameco, Rio Tinto and Cogema.
• Technical data covering the project, including a drilling database, is owned by PacMag, which will facilitate conversion of the previous resources and reserve estimates to JORC compliance.
• As previously foreshadowed, in order to focus on its advanced copper-molybdenum assets, PacMag is progressing negotiations regarding the possible divestment of the Company’s uranium portfolio, including this Wyoming uranium project.

I hope your right rockingham, i think some irish luck may have come through
for me here, i've been trading in and out of PEN since nov last year. I jumped
back in last week @ .096 on the back of those big volume days. Just luck to be in atm.
Anyway good luck guys, lets hope its all good news, roll on next tuesday!!!
cheers marc

 

[rockingham178]

Re: PEN - Peninsula Minerals

I hope your right rockingham, i think some irish luck may have come through
for me here, i've been trading in and out of PEN since nov last year. I jumped
back in last week @ .096 on the back of those big volume days. Just luck to be in atm.
Anyway good luck guys, lets hope its all good news, roll on next tuesday!!!
cheers marc

Marc...so do I

Just speculating, although I don't think unrealistic, PMH are focussed solely on copper and molybdenum....PEN want to be a U producer and have Molybdenum in South Africa.

What are the possibilities that this will include a share/resource swap arrangement?

Also if the ann is about the US Wyoming Sundance Uranium assets they are already able to be advanced to Jorc compliance. The U assets of PMH also include Sth Australian leases and they have indicated "others" but no details.

I know I am speculating.... but I find the posibility of this all quite exciting!

 

[rockingham178]

Re: PEN - Peninsula Minerals

This is old but still relevant...I am very glad Warwick Grigor is the Executive Director of PEN...

http://strategypage.com/militaryforums/69-26217.aspx

 

[pennystock]

Re: PEN - Peninsula Minerals

Hi Guy's
Just reading your posts on PEN. I have held this stock @ 5.4c from Nov 2006. Volumes have been very strong since then but one thing that really got me excited was one buyer on the 13th of Feb 07, 5 million @ .099c I felt then that something was a foot, now we have a trading halt. Did people know before hand about this mmmm maybe, I'm happy I hold and looking forward to Monday-Tuesday, hope the news is good

 

[rockingham178]

Re: PEN - Peninsula Minerals

Far better than expected....

This one is a gem and already eluded to...but this is the one that will make PEN holders very wealthy indeed. JORC pending....

From todays ann....

The Sundance district hosts a significant amount of uranium mineralisation over a large
area (35 kilometres by 8 kilometres). The mineralisation, which is related to an extensive
system of roll fronts, is hosted in several discrete uranium deposits, and along the
oxidation-reduction interfaces throughout the area. The uranium mineral deposits in the
area of Oshoto, where the claims are situated, are amenable to in-situ leaching, as
demonstrated by the results of the pilot plant program undertaken in the late 1970’s.
Technical data covering the project including drilling database is owned by PacMag,
which will facilitate conversion of the previous resources and reserve estimates to JORC
compliance.
The technical data purchased by PacMag and to be acquired by Peninsula covers the
full extents of the roll front systems in the Sundance district, whilst the mineral rights
(~1000 acres) cover important parts of two of the Oshoto deposits, and further state
mining leases (1500 acres) cover portions of the projections of the roll fronts south of the
deposits.

 

[Lucky_Country]

Re: PEN - Peninsula Minerals

Yep they got some great assets just wish they didnt have so many shares on offer but have got a good management team

 

[wotthe]

Re: PEN - Peninsula Minerals

Just wondering how far people think PEN could go, following the recent announcements ...

 

[rockingham178]

Re: PEN - Peninsula Minerals

Just wondering how far people think PEN could go, following the recent announcements ...

At the risk of being accused of ramping and getting far too excited in the past, I would suggest a simple comparison of other U stocks

Look closely at WMT, BMN, BLR in particular ( I will exclude UKL only because it has a low number of shares on issue)...not identical by any means but a lot of similarities. I favoured PEN for what that had before let alone what they now have.

In addition to current holdings of advanced exploration at Karoo province in South Africa (govt actively promoting and encouraging U mining), the Raki Raki Gold project (cash flow with update ann due) and just have a little look at the potential of nickel exposure in WA. $4.5m cash at bank, nil debt. Add in they have exceptional management and geologists.

The latest aquisitions now takes PEN to a much higher plain:

# Jorc compliant database for the Sundance project in Wyoming a recognised uranium mining province in the US (ready access to road, rail and infrastructure).
# Australian U leases in SA.

If more is required to make PEN move upward then I am obviously missing something. PEN should alreeady be at least in the teens now...conservatively speaking. They will have ~800m shares on issue (including ops) after this is sealed but they have a jorc compliant lease in the US, what value do you place on an asset like that? IMO when the details of this database are made public (which obviously the board of PEN must know) then PEN will be in double digits.

IMHO I believe the PEN sp is still being manipulated and the current environment is perfect for whoever has been doing so now for over 5 weeks that I am aware of.

Selling atm is obviously personal choice, but think what is about to eventuate with this company, a sleeping giant IMHO.

Please DYOR and do not take this as a recommendation to buy/sell/hold. This is my opinion only and a brief summary of the reasons I hold.

 

[wotthe]

Re: PEN - Peninsula Minerals

I have to say your enthusiasm for PEN helped feed my interest Rockingham ...I bought a few shares (very smalltime and new player) after the announcement but was doing comparisons with UNX until I realised that UNX had only 50 million shares.

That's what got me wondering as to how big an effect this would have on it's potential.

The timing of the announcement couldn't have been any worse, could it ... although the share turnover has been pretty spectacular!

 

[marc1]

Re: PEN - Peninsula Minerals

I have to say your enthusiasm for PEN helped feed my interest Rockingham ...I bought a few shares (very smalltime and new player) after the announcement but was doing comparisons with UNX until I realised that UNX had only 50 million shares.

That's what got me wondering as to how big an effect this would have on it's potential.

The timing of the announcement couldn't have been any worse, could it ... although the share turnover has been pretty spectacular!

Wotthe you mentioned the volume in your last post,check out the long term

chart on pen.Say 10 years ,the volume increase over the last 12 to 18 months

is quite pronounced, from memory sp high was 40 to 45 ish,it has been a very

volatile stock over the years as the price spikes clearly indicate.

I am holding a small parcel atm but with the market the way it is atm it may

take some really positive ann to support these stocks.

good luck all holders

 

[wotthe]

Re: PEN - Peninsula Minerals

Thanks Marc ... I'm learning stuff by the minute here. I looked at 5-year but didn't even consider 10. I can see I need to brush up on my research technique before I think about any more buys ... seems you guys leave no stone unturned!

 

[marc1]

Re: PEN - Peninsula Minerals

Thanks Marc ... I'm learning stuff by the minute here. I looked at 5-year but didn't even consider 10. I can see I need to brush up on my research technique before I think about any more buys ... seems you guys leave no stone unturned!

I'm only a newbie to the site myself.plenty to learn everyday on this site
some very knowledgable posters and well moderated.
Happy trading wotthe.
sorry off the thread title slighty.

 

[Sean K]

Re: PEN - Peninsula Minerals

This was trending beautifully until the blip. Might be a little resistance here at 9 cents, but once it's through, back onto all time highs by the look. MACD is showing downward momentum which is understandable, but if the real correction doesn't eventuate then it will probably turn pretty quick. What a great run. Good work if you were on this a few months ago.

 

[marc1]

Re: PEN - Peninsula Minerals

Thanks for the chart K i will master them one day

 

[rockingham178]

Re: PEN - Peninsula Minerals

Wotthe you mentioned the volume in your last post,check out the long term

chart on pen.Say 10 years ,the volume increase over the last 12 to 18 months

is quite pronounced, from memory sp high was 40 to 45 ish,it has been a very

volatile stock over the years as the price spikes clearly indicate.

I am holding a small parcel atm but with the market the way it is atm it may

take some really positive ann to support these stocks.

good luck all holders

marc1, why go back 10 years when pen has only been pen since 12/5/2004 sp 2.5cents (formerley kanonwna lights nl). To compare PEN of today to what was is like comparing swiss cheese to off milk.

Different management, days gone by with KL best forgotten related to tantalum (which SoG also fell foul of). PEN has never been "40 to 45 ish", in fact the highest in the period you indicate KL ever got to was .45 on the 4/9/97 and it closed at .38

With respect marc it is simply fundamentally erroneous to use this analogy and misleading to all on asf.

PEN was .02 on the 24/8/06 and has been in a definate uptrend since (without this announcement).

Yes I have done my research and never place any of my hard earned into anything until I do.

PEN is an excellent value stock and is way oversold (IMHO of course) ...pure and simple...and I will be proven correct.


Please DYOR and do not take this as a recommendation to buy/sell/hold. This is my opinion only and a brief summary of the reasons I hold.

 

[rockingham178]

Re: PEN - Peninsula Minerals

Well I guess that killed conversation on ASF about PEN.........

Surely someone has something to say.......

cheers

 

[wotthe]

Re: PEN - Peninsula Minerals

Well I guess that killed conversation on ASF about PEN.........
Surely someone has something to say.......

cheers

I guess the action of the past week killed a fair bit of conversation!

I was encouraged by Kennas' comments about PEN going through 9c then ever upward ...

It seems to me the announcement still hasn't been given the weight it's worth ... or am I just misreading things?

 

[rockingham178]

Re: PEN - Peninsula Minerals

PEN is doing just fine considering the correction and was doing so just before it occurred.

In the last 2 days it has rallied back very nicely indeed. Lots of traders having a birthday but that won't last IMO....a lot of tree shaking going on as well as the accumulation continues.

A lot of speculation going on about the last ann...me I have focussed solely on the major aspects that will significant, of which I have posted previously.

PEN has and will continue to be good to me and others for a long time to come.

 

[wotthe]

Re: PEN - Peninsula Minerals

A lot of speculation going on about the last ann...

Not sure I know what you mean about the speculation ... can you fill me in?