Trailing stop hit at 81c
Was an excellent trade.
Heading south now, imo. The sporadic exploration results released to the market throughout the entire exploration campaign came to fruition today, with what appear to be very poor results.Still heading north...
Heading south now, imo.
... Once again it appears I have put the "Kiss Of Death" on a stock the day before it falls
Any one who knows the graphite sector has seen Lamboo run hard thanks to Maquare Bank in 4 months from 20c - $1.00
Uranex is bigger and better than this mine and has the capacity to go from where it is currently 14c to beyond a dollar.
500mil tonnes and great MET reports over 100yrs supply.
Road show has started and Uranex currently in Sinapore talking to end users of graphite.
Give this stock 6-8weeks, it will run harder that Ben Johnson at the Olympics.
Uranex is bigger and better than this mine and has the capacity to go from where it is currently 14c to beyond a dollar.
500mil tonnes and great MET reports over 100yrs supply.
Give this stock 6-8weeks, it will run harder that Ben Johnson at the Olympics.
Any one who knows the graphite sector has seen Lamboo run hard thanks to Maquare Bank in 4 months from 20c - $1.00
Uranex is bigger and better than this mine and has the capacity to go from where it is currently 14c to beyond a dollar.
500mil tonnes and great MET reports over 100yrs supply.
Road show has started and Uranex currently in Sinapore talking to end users of graphite.
Give this stock 6-8weeks, it will run harder that Ben Johnson at the Olympics.
"We see graphite as a sexy metal that has large growth factors going forward," chief executive Rod Chittenden said.
"There was a question mark hanging over the company before these metallurgical results."
Graphite is in demand because it is a necessary component in rechargeable lithium ion batteries.
An eventual predicted take-up of electric cars would spur even more demand - nearly 40kg of graphite is used in each of those batteries.
Graphite has been used in batteries for decades because it is an electrical conductor, but the technological explosion in smart phones and other portable devices has sent demand soaring.
Uranex would be in production by 2017 in a best case scenario producing 100,000 tonnes of graphite a year at its Nachu site.
That would make it a serious player, adding 6-7 per cent of supply to the 1.5 million tonne a year global market.
Mr Chittenden is not worried about over-supply, talking up a potential doubling of the market to 2.5 million to 3.0 million tonnes a year from 2016 onwards as demand rises more.
China's current 70-80 per cent dominance of global production is receding too and creating supply gaps, as the government shuts down lower grade mines due to environmental and water issues caused by its use of hydrofluoric acid.
"China will actually be a net importer of graphite in 2014," he said, due to the fact the Chinese also make the batteries used by companies such as LG and Samsung.
Beyond that Uranex need an offtake partner to help fund what they estimate would be an $80 million plant.
Australian share market darling Syrah Resources recently struck a deal with Chinese giant Chinalco to supply it 80,000 to 100,000 tonnes of graphite a year from its planned 220,000 tonnes of production.
Syrah's Balama project in Mozambique is rated one of the top two graphite deposits in the world and its market value has jumped from $10 million to a current $606 million since securing the resource in 2011.
... burglar is set to hold ...
Uranex Limited (ASX:UNX) has raised $5 million through a placement of shares to sophisticated
and institutional investors from Australia and overseas. The company is encouraged by the strong
support received for the placement which was oversubscribed.
The placement consisted of 31,250,000 shares issued at $0.16 per share.
Funding will be used for immediate commencement of drilling to establish a JORC resource in the
near term for the Nachu Graphite project in south east Tanzania, which will further establish this
graphite project as world class. In addition, funding will enhance metallurgy through design of
'industry best' processing, support comprehensive environmental impact analysis and to complete
the pre-feasibility study within the next 6 months.
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