PNN - Power Minerals

[mmmmining]

I quote from: www.miningNews.net:

"South Australian Mineral Resources Development Minister Paul Holloway told the Paydirt Uranium Conference in Adelaide that "the State Government is very confident that the no new mines policy will change, allowing South Australia's competitive advantage in the uranium sector to come to the fore".

"It's my opinion that South Australia will move fairly quickly to change our policy," he said, noting that any policy change won't affect existing operations and already strong support for the change from the state's premier and other ministers."

 

[56gsa]

This is from the PNN media release following the Adelaide conf..

PepinNini’s General Manager, Mr Phil Sutherland, said Crocker Well was now a highly advanced
uranium project, and should be in production in three years time.
“The likely cost will be around A$160 million and provide around 100 permanent jobs once the
mine is commissioned,” Mr Sutherland said.
“This seems like a big call but Pepinnini is already favoured by having the Chinese Stated-owned
SinoSteel Group as a 60% strategic partner and shareholder,” he said.

Now the $160m is not new news... but to claim Sino as a 60% strategic partner is new to the market - agreements to that effect that have been signed are still waiting for approvals etc or is it all a done deal???

 

[mmmmining]

This is from the PNN media release following the Adelaide conf..



Now the $160m is not new news... but to claim Sino as a 60% strategic partner is new to the market - agreements to that effect that have been signed are still waiting for approvals etc or is it all a done deal???

Unfortunately, it is a done deal, only subject to both government approvals. It takes time, but will get there.

I still wish PNN can get out the hook, and find a new partner after spot uranium almost doubled since the deal signed.

 

[56gsa]

Looks like it could run to test all time highs @ 220, with possible support @ 185-194

 

[mmmmining]

Looks like it could run to test all time highs @ 220, with possible support @ 185-194

PNN, MTN, and AGS potentially with good projects in SA are having a good run today.

 

[56gsa]

someones getting serious.. a buy order for 199k @ 2.04 which is more than the PNN average daily vol over last 3 mths (189k)...

makes me think an announcement re Sino might be coming up and maybe earlier than 'due' date of 8 Apr... or is it just someone getting excited after the Adelaide conference?

 

[mmmmining]

A near-term producer with huge valuation upgrade.

 

[mmmmining]

Just 1c off the all-time high. It was mentioned on SA Premier's Ann supporting uranium mining in SA, Along with AGS, MTN and CUY.

 

[mmmmining]

Sinosteel has got the FIRB's bless, I am sad it is a done-deal now.

I hope PNN can find a lot of nickel to further advance the share price.

 

[56gsa]

Sinosteel has got the FIRB's bless, I am sad it is a done-deal now.

why sad mmm? with $30m in the bank PNN is cashed up - may look at taking over another small cap?

20m shares and 9m opts (20c Dec 07) coming off escrow 15 april should add a bit more volume to this...

now above 2.20 all-time high so this announce should see enough volume to push it into blue sky....

FIRB Approval for Participation of Sinosteel
Corporation in Curnamona Province Uranium Project The Foreign Investment Review Board (FIRB) has issued notification that they have no objections
in terms of the Government’s foreign investment policy to Sinosteel Corporation acquiring a 60 percent interest in the assets of PepinNini Resources Curnamona Pty Limited which currently holds four exploration licences and one exploration licence application covering approximately
3,778 sq. kms. in the Curnamona Province of South Australia. PepinNini Resources Curnamona Pty Limited is a wholly owned subsidiary of PepinNini Minerals Limited.
This approval facilitates the progression of the strategic alliance previously announced between PepinNini Minerals Limited and Sinosteel Corporation to jointly co-operate in the development and operation of the Crocker Well and Mt Victoria Uranium Deposits and other commodities in the tenements currently held by PepinNini Resources Curnamona Pty Limited.

 

[mmmmining]

Man, you figure it out, PNN has given Sinosteel a free option for 8 months. The underline asset value has more than doubled.

It is fanny to think about it, market actually cheer up. and celebrity to cheap sell.

Nevertheless, I am sad and happy. Very complicated feeling.

I am a long term holder for PNN.

 

[56gsa]

Nevertheless, I am sad and happy. Very complicated feeling.

as they say... don't worry - be happy Mmmmining

This is still trading at an EV of under $10/lb ... plus has the nickel potential

If it was an AGS (which is now around $30/lb I think) PNN would have a share price above $6...

I'm sure if PNN change their name from a type of pasta to something more nuclear we'd see more interest?!

 

[mmmmining]

as they say... don't worry - be happy Mmmmining

This is still trading at an EV of under $10/lb ... plus has the nickel potential

If it was an AGS (which is now around $30/lb I think) PNN would have a share price above $6...

I'm sure if PNN change their name from a type of pasta to something more nuclear we'd see more interest?!

I agree with you. But for a near-term producer, it should be valued on NPV bases, not EV/lb.

The year towards production targets is achievable. And I am very sure that they can find more satellite deposits within and surround tenement. A 1000t+ production over 8-10 years will make a lot of money, better than a casino...

 

[56gsa]

But for a near-term producer, it should be valued on NPV bases, not EV/lb.

you're right - have you done an NPV valuation of PNN?

assuming AGS is valued on NPV basis:

AGS
mkt cap $645m
possible resource still not JORC (25% of 40kt total) 10,000t

PNN
mkt cap $153
JORC resource 6740t (so 67% of AGS resource)

67% of $645m = $431m / 68.7m PNN shares

=> PNN share price $6.33

 

[mmmmining]

you're right - have you done an NPV valuation of PNN?

assuming AGS is valued on NPV basis:

AGS
mkt cap $645m
possible resource still not JORC (25% of 40kt total) 10,000t

PNN
mkt cap $153
JORC resource 6740t (so 67% of AGS resource)

67% of $645m = $431m / 68.7m PNN shares

=> PNN share price $6.33

I don't want to take away GRD Minpro's job and don't want to get too much real. You should have some clue with the PFS, which I doubt they might jump into BFS without a PFS.

The uranium stocks can still enjoy the la la land for quite a while. But keep it quiet. It will last longer...

 

[mmmmining]

Very interesting development. next door to PNN up north in QLD, SMC has found some serious uranium from historic data.

Do you still remember PNN has hands in three pies:

Curnamona Province Uranium Project;
Musgrave Province and
Woolgar Goldfield

I believe everyone valued PNN on Curnamona Uranium, no value for the other two. The management might believe it too, particularly for Woolgar. Almost nothing has been done yet.

Now I believe PNN might has something to read in coming weeks.....

 

[56gsa]

and todays announcement re buying extra Musgrave tenement from Rio in Pitjantjatjara land that hasnt seen much drilling - also bought a dedicated drill rig and crew for the nickel drilling to start in May - nice picture of a drill rig in the sunset!

 

[mmmmining]

and todays announcement re buying extra Musgrave tenement from Rio in Pitjantjatjara land that hasnt seen much drilling - also bought a dedicated drill rig and crew for the nickel drilling to start in May - nice picture of a drill rig in the sunset!

Man, the picture looking good, but it is an artist impression. Nevertheless, the picture painted by the management are getting more and more promising day after day.

I guess money is King. Now PNN can afford some fancy gadgets. I wish they allow me to do a test drive

 

[mmmmining]

PNN is out of control. It could take the first place for the race to producer in Australia amount the junior hopeful. The speed of dash is beyond my imagination. But it is understandable.

A good company with almost everything taken care of. In a good state, advanced in project, financially sound, strong Chinese backup, and Chinese customers as well.

 

[Morgan]

Oh good grief. Another fine example of never having an automatic stop loss on uranium stocks.