PNN - Power Minerals

[56gsa]

can anyone answer this question... why does PNN still fail to attract big volume??

any response to my question above....

 

[56gsa]

at the risk of talking to myself .....

some volume now on the buy side (its all relative! - avge vol is only 189K) and announcement re uranium to china on 'uranium raging bull' thread is positive ahead of possible announcement re Sino dec 8

Number Quantity Price
2 6,024 1.280
3 184,377 1.270
5 115,120 1.260
3 5,545 1.250
3 11,000 1.240
2 11,138 1.230
1 3,009 1.210
1 2,000 1.200
1 5,000 1.185
2 17,000 1.180

 

[56gsa]

Well a drop today - perhaps because no announcement?

Actually bit strange - I just realised announcement of MOU signing was 13 Sept, but AR states MOU was signed on 8 Sept - whay did it take 5 days to report to the market? Presumably though the 3 calendar months are up today, when they should report whether:

1) Sino has got all legally binding documentation and government approvals and will pay PNN $30m for 60% stake in uranium, + $6m for other exploration etc
2) Sino will extend period for another 2 months and pay PNN $1m
3) Sino quits

I'm thinking (2) probably likely given they are trail blazing re China involvement in Oz u3o8 exploration but then maybe both Governments want to send a positive message and so they've pulled their fingers out??

waiting waiting

 

[56gsa]

SIno has paid $1m and extended period for two months for approvals - so new date for your diary Feb 8. PNN is also drilling to upgrade inferred JORC u3o8 resource....

 

[56gsa]

while i wait for anothe two months (maybe shorter if revised JORC comes out...?) a comparison with in-the-news hopeful OMC

OMC
grade 0.038%
U t 6,220
proposed mtpa 682
cost / lb USD 23m
cost of Mine USD 60m
Mkt Cap AUD 186m

PNN
grade 0.053%
U t 6,740
proposed mtpa 585
cost / lb USD 22m
cost of Mine USD 125m
Mkt Cap AUD 72m

 

[mmmmining]

PNN is no trading halt. Anything worth to speculate?

 

[56gsa]

crumbs - bit close to announcement of Sino extending period - hope they didn't loose the $1m cheque.. or maybe it bounced!

as you said earlier mmmining - think this might be related to musgrave desposit... frm the last qtrly report (Oct):

An extensive surface geochemical sampling program has commenced to define areas of elevated nickel and copper. A downhole electromagnetic survey to better define the extent of sulphide mineralisation and a surface electromagnetic program over the currently mapped intrusion is scheduled to commence in early November.

 

[mmmmining]

crumbs - bit close to announcement of Sino extending period - hope they didn't loose the $1m cheque.. or maybe it bounced!

as you said earlier mmmining - think this might be related to musgrave desposit... frm the last qtrly report (Oct):

I don't know. I guess it would be funny to stop trading for anns a rock collection (unless they are fancy diamonds, or so). Obviously PNN stop drilling for a few months, so no drilling results, good or bad.

They don't need money either. One more month either they get money from SinoSteel to fund all sorts of drilling, or they can get money from market later.

I guess:

1. Someone is in the progress to make an offer to the whole company. Maybe it is Sino's friend if it is not SinoSteel itself. Then, SinoSteel becomes Sino-steal.

2. Sino-steel might see the end of tunnel to get our government's clearance. Three-month is just a few days short.

3. They might conduct a placement, just in case SinoSteel put out, so they still have money to fund the great drilling.

Let's see.

 

[56gsa]

1. Someone is in the progress to make an offer to the whole company. Maybe it is Sino's friend if it is not SinoSteel itself. Then, SinoSteel becomes Sino-steal.

2. Sino-steel might see the end of tunnel to get our government's clearance. Three-month is just a few days short.

3. They might conduct a placement, just in case SinoSteel put out, so they still have money to fund the great drilling.

!! Sino steal it would be if they got this company for anything like the OMC premium +10%

2 could be possible - They need to get FIRB approval and I think that is normally made public once the Board decides - I wonder if anyone has the agenda from the most recent meeting?! But this would come before the States

3 also possible given they can guarantee a nice price at the mo

lets hope for something that makes it head north

 

[mmmmining]

!! Sino steal it would be if they got this company for anything like the OMC premium +10%

2 could be possible - They need to get FIRB approval and I think that is normally made public once the Board decides - I wonder if anyone has the agenda from the most recent meeting?! But this would come before the States

3 also possible given they can guarantee a nice price at the mo

lets hope for something that makes it head north

It is a capital raising. I should read the second page of the trading halt notice.

It depends on who is going on the board, and the price to determine the SP direction.

 

[moses]

Share placement 5m at $1.05 to sophisticated investors.

"Funds raised will be used for working capital and expansion and
acceleration of exploration for nickel in the Musgrave Province of
South Australia."

So...fellow crystal balls...bounce up or fall down?

 

[mmmmining]

Share placement 5m at $1.05 to sophisticated investors.

"Funds raised will be used for working capital and expansion and
acceleration of exploration for nickel in the Musgrave Province of
South Australia."

So...fellow crystal balls...bounce up or fall down?

Good, and 50bad/50good

Good is the Asian institution's interest. They like the company as an outsider, normally, very careful with their risk money. PNN must be cheap to them.

50bad/50good means the Chinasteel's deal may not go ahead. PNN should be blamed for it. The condition is so good to Chinasteel, 3.3m share at $0.5 per share, plus effectively 5m options at $0.5. They can make almost risk-free profit of about $4m, particularly after this placement.

It is not a bad thing after all. The Chinasteel deal is a bad one for PNN after the fact. If the deal is off, I believe PNN will be a good takeover target for the Canadians with a little bit better vision then Aussies'.

 

[56gsa]

opinions on chart for PNN (sorry can't post one)

last couple of days have seen full black candle followed by an almost mirror image white one (on increased volume) - does this suggest a breakout from the flag pennant upwards? but this doesn't seem to be supported by the market depth??

your opinions muchly appreciated...

 

[Sean K]

opinions on chart for PNN (sorry can't post one)

last couple of days have seen full black candle followed by an almost mirror image white one (on increased volume) - does this suggest a breakout from the flag pennant upwards? but this doesn't seem to be supported by the market depth??

your opinions muchly appreciated...

It's interesting but not necessarily a reversal. Does make $1.50 look like a bit of support, but it's strange $1.58 is turning into resistance..has been oversold on stochastics and just turned up which is bullish to me. This is pretty much a flag pattern in a general upward trend, so I'd expect it to continue up after the consolidation. Having said that, the chart looks sort of like just about all the other decent uranium plays out there. We haven't had a decent correction in their sp's for some time. Many have trippled. I'm expecting a 10-30% pullback on them at some point. Good luck.

 

[56gsa]

Has broken out from flag pattern.

Mkt Cap still well below comparables just on U JORC deposit alone - see above comparison with OMC - has other projects of value.

Interest this month could come from lead up to deadline for Sino commitment or otherwise (Feb 8), and commencement of drilling of new sites as well as upgrading JORC fro Crocker Well

 

[yada]

This stock has been going bananas recently
I am bit concerned about the volume. There's only 400K or so trades for this stock today. I would have expected volume in the millions given the leaps it has made in the last few days.
Is the volatility of this stock driving investors away?

 

[56gsa]

yada - this has been pretty much up-she-goes since sept last year so not sure if that's volatility?

never been much volume in PNN and i asked the same question a while back - the response is obviously that is what the market decides. seems not too many are willing to take the punt on Sino taking their 60% stake in the uranium.

Feb will see some key news:
* Feb 8 - decision on whether Sino invest additional $30m
* maybe later Feb some news on additional drilling / JORC of U deposits
* I think also in Feb we are due to hear about Cigar Lake flooding and how long that will take resolve

So a number of drivers for next few weeks, altho as Kennas points out u3o8 stocks also due for correction

 

[56gsa]

a 61.8% retracement over the last couple of days as has been the traditional - although this time a bit more sudden....

perhaps good buying opp or are people getting nervous before Sino announcement?

no other news i'm aware of - anyone heard anything?

 

[56gsa]

are the whispers out?

has been heading south last few days... has Sino pulled out of the deal

but low vol so is everyone just sitting and waiting ?

100k at 1.75 suggest a couple are confident...

anyone got their ear to the ground - heard any chinese whispers?

 

[Wysiwyg]

are the whispers out?

has been heading south last few days... has Sino pulled out of the deal

but low vol so is everyone just sitting and waiting ?

100k at 1.75 suggest a couple are confident...

anyone got their ear to the ground - heard on chinese whispers?

30 new nuclear power stations by 2020? I`m deaf


Brodrick explained that Russia is planning on building 42 nuclear power plants while Japan has plans for 11 plants by 2010 and China says it will be constructing 30 nuclear plants by 2020, with an ever-increasing demand for more uranium fuel because of it.