Australian (ASX) Stock Market Forum

Uranium, a Raging Bull

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chris1983 said:
YT you would agree with everything being overpriced as compared to EVE
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Nope,

I'd be quite happy to buy

ARU (I own but not much)
URA (I own but not much)
MRO (Don't own)
MTN (I own)
WME (Don't own anymore)
MRU (don't own anymore)
AGS (Don't own)
OMC (Don't own anymore)

I work on fundamentals, the higher the mkt cap, the more resources and higher grades the company has to have to justify it
 
chris1983 said:
Yeah I'll try get a copy scanned. Flat out at work atm though and the article isnt mine..its a mates..otherwise I would of brought it home with me and scanned it there.

Trust me its not the best read. He does say your EVE are a good though. I agree EVE are underpriced. You will have your price rise eventually.
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Cheers Chris,
 
YOUNG_TRADER said:
Nope,

I'd be quite happy to buy

ARU (I own but not much)
URA (I own but not much)
MRO (Don't own)
MTN (I own)
WME (Don't own anymore)
MRU (don't own anymore)
AGS (Don't own)
OMC (Don't own anymore)

I work on fundamentals, the higher the mkt cap, the more resources and higher grades the company has to have to justify it
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YT, I reckon when SMM get their 6 x JORC estimates in by the end of the year this could be undervalued as well. Although by my calcs it's getting pricey. 188m shares x $2.00 = $376 m.....But a massive resource already, currently estimated at a total 35 m tns U308.

Check out their presentation to investors on their web site. Very interesting is page 1 of Part 2 which gives a run down on all U players in Australia and the size of the resources, correct as at March 06.

www.summitresources.com.au
 
I agree with Deep Yellow , Bannerman and TORO being overpriced for where they are and EVE under priced.

Think OMC is fair value currently but by end of the year they will be back to well under priced due to Bungua results coming back.
 
Simmo said:
I agree with Deep Yellow , Bannerman and TORO being overpriced for where they are and EVE under priced.

Think OMC is fair value currently but by end of the year they will be back to well under priced due to Bungua results coming back.
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You know..I understand all your views in saying Bannerman are overpriced. I still think they will go to $2 in quick time. I'll give it a year max to reach that price. They know the uranium is there. They dont have a JORC deposit yet..but will with time. I didnt wait for the JORC estimate..and im glad I didnt. They will be very expensive when that time comes. Investors obviously think there is a LOT of uranium there. Goanikontes has the historic drills to prove that.

As for the others..ive read up on eve..they look okay but they need a lot larger resource for the development of a mine.

Anyway i'll try get this article attached for you all to read.
 
You guys should look at EME - thats pretty undervalued ($50million, compared to say..... wait for it..... TORO!)
This is the conclusion from Resource Capital Research from their latest uranium sector review:

The project appears to have the conditions neccessary potentially to make quick advancement - close to surface, good metallurgic recoveries, high grades with upside resource potential, and experienced management team and is in a favourable jurisdiction (NT)

SMM is a great stock but beware ALOT hinges on what happens in April next year i mean ALOT... look at their presentations its full of it.... If nuclear policy doesnt change this will plummet to the cents. If it does, then it will still face State opposition BUT that should be easily overcome looking at the economics of the project. Production within 18 months is feasible.
 
Ok the file size it allows is way to small to upload this article. Just PM your email if you want to have a read of the article.

Regards,

Chris
 
Bannerman's market cap is now approaching 100 million
with 72.8 million shares on issue at $1.33 is 96.8 million undiluted
then there is an additional 40 million listed options and another 20 million unlisted options.

Bannerman only has 100% success factored into the price at the moment.
The share price just seems to be getting ahead of itself compared to other U stocks at the moment. :eek:
 
It'd be a good idea for the government to allow more uranium mining because the farming economy is stuffed and farmers are turning to mining for wages. Minig uranium will help balance our economy.
 
Simmo said:
Bannerman's market cap is now approaching 100 million
with 72.8 million shares on issue at $1.33 is 96.8 million undiluted
then there is an additional 40 million listed options and another 20 million unlisted options.

Bannerman only has 100% success factored into the price at the moment.
The share price just seems to be getting ahead of itself compared to other U stocks at the moment. :eek:
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Well it will be interesting to see what happens Simmo. I believe they will keep going. I dont care if the whole market thinks they are overpriced. As long as they get more overpriced im happy.

One thing you must realise..they are right next to Paladin with very similar geology..The Langer Heinrich channel runs into Bannermans Elpse channel.. and they also have the Goanikontes deposit that runs along the strike of Rossing with the Goanikontes prospect..if they find as much uranium as what Paladin have..then hey I'm all smiles because Bannerman have a lot less shares on issue. I think there is a good possibility that they will have more uranium than Paladin. So i'll just continue to hold.

Investors have gone into Bannerman with the same beliefs I have..thats why they are the price they are..I did get in at an earlier price though. I believe they allready have a sizeable deposit at Goanikontes. Add Fat prophets and Carmichael to the believers in Bannerman. Carmichael put a 6 month target of $1.60 on the share which was made in September.

So hey im willing to wait to see their drill results.
 
YOUNG_TRADER said:
And Warrick is a solid operator mate, not just some journalist, he actually has been involved with hell of a lot of projects and he's respected
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I feel sorry for the people who read his report and decided to go buy Metex. He put a nice rating of Excellent on them :| I will quote what he said

"Top of the pile is metex resources"

See report below..those guys who bought in on his report are gunna get burnt.


SMH report today for Metex (MEE) issued today was not glowing:

http://www.smh.com.au/news/business...grazie-to-metex/2006/10/27/1161749311836.html

Lombardy minister's no grazie to Metex
Desmond O'Grady in Rome
October 28, 2006

THE no-uranium movement in the Italian Alps is celebrating a victory over the Australian exploration group Metex Resources. Metex was seeking a permit to explore the uranium potential of the Valgoglio-Novazza zone, in a valley 85 kilometres north-east of Milan.

The Italian energy authority ENI located uranium there in the late 1970s but dropped further work because Italy voted against building nuclear reactors.

In a statement to the Australian Stock Exchange in September, Metex managing director Ian Walker said the area contained an estimated 870,000 tonnes of material which was expected to produce 130,000 tonnes of uranium, with an in situ value estimated at almost $200 million.

A Metex press release described the Novazza site as the cornerstone of our new energy policy. The news produced a pick-up in the Metex share price although it subsequently fell back to around 6.5c - only to close at 8.2c on Friday.

But the Valgoglio local council, which includes Novazza (together they have fewer than 1000 inhabitants), voted against the Metex project. And on Tuesday the Lombardy Region Minister for the Environment, Mario Pagnoncelli, announced he had given it the thumbs down.

We want to close the question once and for all, Mr Pagnoncelli said. Last week I asked the Metex representatives to withdraw their request but they have not responded.

We've got projects of our own, Valgoglio mayor Augusto Bonardo said by phone. We settled this issue years ago and don't want to reopen it for an anachronistic and dangerous project - uranium mining entails health hazards and environmental damage.

The uranium project was discussed at several public meetings. A no-uranium committee was formed and people were invited to email their disapproval to Metex. It is claimed that 500 did so and a petition was presented to Mr Pagnoncelli with 2500 signatures opposing the project.

The well-organised and nationally based Legambiente movement, with ideals close to those of the Greens, has been crucial to the opposition movement, using arguments such as that radon gas from uranium is already present in considerable quantities in the zone, which has high cancer rates.

Yet several at the public meetings spoke in favour of the Metex project, and there is a growing impatience with the not-in-my-backyard mentality which blocks many development projects in Italy.

A Valgoglio councillor who was absent when it voted against the project, Amedeo Pirola, says the earlier site exploration did no damage, provided work and resulted in construction of a useful road. He pointed out that the Metex application was only for exploration, not extraction.
 
Chris,

"Give me your email. I scanned the report for some of the guys on aussiestock forums"

Where do I locate scanned file on Aussie Stock?
 
Hey bigdog.

you on here also :)

private message me your email address and then I can send you the file..it was too large to upload
 
could explain the increased interest in SMM. thats excellent news anyway, a decent jump in price.
 
dj_420 said:
could explain the increased interest in SMM. thats excellent news anyway, a decent jump in price.
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SMM is a winner.... was it jorc estimates for 5 or 6 of their deposits planned before the end of the year?! :D
 
nizar said:
SMM is a winner.... was it jorc estimates for 5 or 6 of their deposits planned before the end of the year?! :D
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They are drilling and are to report on 8, but they are saying in their latest ann that 6 more will be reported on by year end. They are listed in the report.

They have 15 other deposits with known uranium they are going to drill.....

The Valhalla deposit alone has 57 million lbs already JORC with possibility of improvement. $57 m x $57 Uranuim price = $3.2 billion.

This could be a 100 million lb uranium company.

Uranium tipped to go to $100 next year x 100m lbs = $1 trillion, I think. :eek:
 
SMM clearing $2.30 now. Market cap exploading..

All uranium stock pumping. Even EVE might end up above $0.10.... :eek:
 

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