Uranium Explorers in Namibia

[chris1983]

Okay guys. Just looking for some feedback and your opinions on uranium stocks in Namibia.

The three main exploration stocks im aware of are Bannerman, Extract and WA Metals. I like the lot of them.

Then you have the Langer Heinrich Uranium mine coming online which is owned by Paladin and the old Rossing mine owned by Rio Tinto.

So whats your opinions? All Australian uranium stocks have had huge rises in Namibia lately. Even though Extract has dropped from its high it still has taken off from 2 cents. You think the lot of them could turn into producers? When I assess the three stocks I think they all look really good. WME Look as if they are waiting to have the next run.

ps. I hold both Extract and Bannerman.

 

[c4concepts]

Yep, I hold WME and RTM.
WME has been promising big things for a while so I suspect news is not far away to get them moving again. There land is almost certain to be Uranium rich and they are conducting tests as we speak....
RTM is by far the most speculative stock with so much bad publicity they are not being looked at on current merits. I think there are a lot of anti RTMers out they that will be eating their words in the not to distant future, but hey, time will tell.
Good luck.

 

[dangerman]

EVE - Energy Ventures. Read thread on EVE.

 

[chris1983]

I thought RTM dont have a nuclear fuels license? Thats what hurt their share price previously after reporting they had uranium. Then the namibian government wouldnt grant it to them? Along those lines. I cant be bothered going back and reading to find out what happened.

Ill check EVE. I think they are in Zambia though.

 

[dangerman]

I thought RTM dont have a nuclear fuels license? Thats what hurt their share price previously after reporting they had uranium. Then the namibian government wouldnt grant it to them? Along those lines. I cant be bothered going back and reading to find out what happened.

Ill check EVE. I think they are in Zambia though.

Woops yeh u r right chris my bad. However its not a bad company with a small market capital with high grades of uranium and it has a JV with Albidon Limited.

 

[Halba]

extract EXT sucks. capitalised at nearly $100M it is clearly overvalued. their u deposit is not economic

WME haven't even gotten a technical team on the ground. they are about 6 years off mining the stuff. they are a year and a half from JORCing the deposit.

BMN haven't started drilling but they have some good grades on historical data. The deposit may be a bit deep

 

[Georgeb]

Newbie, it is to early to state if EXT has enough U in the ground. They have only started their exploration foray. Time will tell if it is economical to mine, keep in mind they have not started drilling the Ida Central target. EXT will become a U producer.

I remember PDN, the resource was initially very low and as the drilling progressed the lower grades became more economical.

 

[chris1983]

extract EXT sucks. capitalised at nearly $100M it is clearly overvalued. their u deposit is not economic

WME haven't even gotten a technical team on the ground. they are about 6 years off mining the stuff. they are a year and a half from JORCing the deposit.

BMN haven't started drilling but they have some good grades on historical data. The deposit may be a bit deep

Hmmm. Extract is more like 60 million...so your way off which your 100 million valuation. Nice opinions. I think your wrong though. I thought WME were going to commence drilling soon aswell? Plus they have historical drilling in the Marenica area aswell.

It will be interesting to see what the price of the three of them are in 6 months time. Because BMN and EXT have performed for myself. I dont know about for others. A few people could of got burnt with EXT in the short term. Still lots of potential there to go back up to 15 and higher in the long term.

Anyway I think WME is next. rose to 15 on friday and volume started to pick up. I havnt got any. grr

 

[Beethoven]

i have to say im not really fond of extract either because it just has way too many shares. I just think that there are better uranium companies out there such as mtn who actually have found high grades of uranium, have tenemants in australia and has a smaller market capital compared with ext.

well thats my opinion anyway.

 

[chris1983]

i have to say im not really fond of extract either because it just has way too many shares. I just think that there are better uranium companies out there such as mtn who actually have found high grades of uranium, have tenemants in australia and has a smaller market capital compared with ext.

well thats my opinion anyway.

There will be a lot of uranium companies in Australia that have deposits and will report better grades than Extract. Even the largest open cut mine in the world being the Rossing mine has low grade uranium. They just process huge amounts of it.

All these uranium companies in Australia finding uranium cant even mine the stuff. Even when the time comes that the Government say's they will allow for new uranium mines to be developed it will only be the selected few who can go ahead and develop a deposit. Plus there will be all the restrictions on who they can sell the uranium too etc etc. Uranium companies in Australia first have to wait for the federal government to allow it..then you have to wait for state governments..then the mine has to be developed. Its going to take time. A long time in my opinion. I'm going to jump on board an Australian Uranium company eventually. Probably Toro energy and just let it sit there for a long termer.

Those restrictions don't exist in Namibia. So if extract continues to drill and continues to map out a resource which is economically feasible it wont matter if they eventually have 1 billion shares on the market. They will still go up. It all depends on their future drilling and how big the resource turns out to be. They will eventually do a capital restructure..thats my opinion. I do agree they have lots of shares on issue. If that bothers you WME and BMN are in better situations in regards to shares on issue.

 

[insider]

As far as i'm cocerned with EXT I don't believe that those that run the business would release a soil report that had outstanding results before one that had medioca. I'd wanna start small and end big that way I'd encourage real investors and not traders. I'm implying that even if they had fantastic results on something they'd release it only after crappy ones. Just a theory

 

[Halba]

Just a change in position: i have bought some WME after extensive research. They have 80% of the project, and are in Namibia, close to Langer. They are searching for historical drill data. It is a goer, and was abandoned in the 70s due to lower uranium prices ala pdn. Their technical team is on the ground. DRilling will be done similar to bannerman i hope. BMN has rocketed a lot recently.

Anyone know about Globe uranium? They are in Malawi


I guess with EXT they are reporting OK grades, but AGS is so much better than EXT at the moment

 

[sandik17]

AGS is so much better than EXT at the moment

Therefore more profits to be made with EXT....just a theory??

 

[Duckman#72]

Therefore more profits to be made with EXT....just a theory??

Hi Punk Rocker

No - if your theory was correct everyone would be buying BRO shares than ENG because BRO would have a much "higher upside".

But I like your way of thinking

Better put EXT in your bottom drawer (next to your BROs' BRO's)

Duckman

 

[chris1983]

Just a change in position: i have bought some WME after extensive research. They have 80% of the project, and are in Namibia, close to Langer. They are searching for historical drill data. It is a goer, and was abandoned in the 70s due to lower uranium prices ala pdn. Their technical team is on the ground. DRilling will be done similar to bannerman i hope. BMN has rocketed a lot recently.

Anyone know about Globe uranium? They are in Malawi


I guess with EXT they are reporting OK grades, but AGS is so much better than EXT at the moment

All of them will go! I hope. . I like WME. I dont hold any. After researching them a friend of mine bought a small holding. I think they have huge potential for upside. Time will tell. Your correct about previous exploration being abandoned due to falling uranium prices..they would of continued their exploration if uranium was the price that it is now! Maybe even have a mine up and running hah! They only have 190 million shares on issue aswell which isnt bad at all. I'll buy some if I can bring myself to sell some of my Bannerman. Why jump out of a stock when you can see it keep on going though.

Back to EXT. I hold. I got in at a very low price though. I'm just going to sit on them while they continue their drilling program. All is looking good atm though. More drill holes need to be done and assessed but they are at a good stage. Only downside with EXT is the amount of shares on issue. If they map out a resource I can only see them going up though. Thats my opinion.

AGS look good. Once again they are in Australia though. This was the whole reason this thread was created. Uranium companies in Australia can have positive increases with their SP but I'm looking for companies that can develop their resources. There is still a long wait before more uranium mining will be possible in Australia. Our government is a slow mover. Then you need approval from State governments. Talk about a lengthy process. AGS have performed thus far though. So have BMN and they are in Namibia. No restrictions on them once they map out their resource.

Ill check out Globe. Then ill get back to you.

 

[chris1983]

Sorry for not getting back earlier. Had a quick look at Globe. They look alright. You can see some really good returns if any good news is reported because they have a small amount of shares on issue just as Bannerman did. Ive added them to the watch list. I think if I was looking to buy another uranium stock I would be looking at entering UNX right about now. I dont hold but after researching them I think they have better potential at the moment for some nice gains..you have to read up on them to form your own opinion. I would probably buy some but im comfortable just sitting on EXT and BMN atm.

 

[chris1983]

I think a reason for liking UNX atm is because I didnt realise they have 8 million in the bank due to their recent capital raising,

"9,870,000 shares at an issue price of $0.40 to raise $3,948,000. The placement of shares was made to Australian and overseas institutional and sophisticated clients"

This should be able to fund their drilling campaign for awhile and I think their current prospects look very promising. They also have ties with the Chinese,

"Further meetings were held with the China National Nuclear Corporation (CNNC) and its subsidiary the Beijing Research Institute of Uranium Geology (BRIUG), during June in Beijing.

These discussions explored the potential for engaging BRIUG and its excellent
exploration capability to assist Uranex with its exploration effort in Tanzania. The talks also covered various initiatives whereby CNNC could potentially earn equity in Uranex projects in Tanzania.

These meetings were encouraging and advanced the understanding of how the parties may develop the level of co-operation aspired to in the Letter of Intent. These discussions however, are still at a preliminary stage and no commitments have yet been entered into by the parties."

Still no commitments made but they seem to have lots of things going for them. I'm making myself like them more and more haha. I currently dont hold.

 

[dj_420]

In regards to comments about australian mines been to long to develop etc etc. although they will take a longer amount of time almost all of the australian mines are high grade compared to any ones in other regions of the globe thus reducing costs, increasing profits. other points are that policy cant last forever so much pressure on aust govt to change coming from us and china.

australian u companies i like are SMM, MTN, AGS
In regards to SMM if aust u miners are such a bad bet then why were SMM just added to the ASX300. And they havent mined a single pound of u??
MUST be because the company has a huge potential to be able to mine and profit.

WHY did paladin buy out valhalla?? because they see huge potential and they obviously expect policy to change. IF policy had no chance of changing then i wouldnt expect any aust u company to be worth squat.

i think many people have overlooked u miners at home here in oz and once we do see a policy turnaround there will be a flood of money into the u sector in aust.

 

[dj_420]

I suppose we should start another thread.

A u miners in aust one!!

anyways, in namibia i like the grades that EXT has been producing but i dont hold for the same reason as other peopl the fact that they almost have 1 billion shares on issue. Far to many for my liking, means that the stock is great for daytraders and their ability to affect sp.

 

[chris1983]

australian u companies i like are SMM, MTN, AGS
In regards to SMM if aust u miners are such a bad bet then why were SMM just added to the ASX300. And they havent mined a single pound of u??
MUST be because the company has a huge potential to be able to mine and profit.

WHY did paladin buy out valhalla?? because they see huge potential and they obviously expect policy to change. IF policy had no chance of changing then i wouldnt expect any aust u company to be worth squat.

i think many people have overlooked u miners at home here in oz and once we do see a policy turnaround there will be a flood of money into the u sector in aust.

They bought out Valhalla because of course they want a position here when it does happen. I never said it wont happen. Its going to take time. I think its still awhile away. Plus they wont allow mines to be popping up all over the place. There will only be the selected few. Summit and Alliance have a chance. Once a mine is allowed it can only be positive for the SP of uranium explorers in Aus. I think a lot of people will get burnt also. It will be interesting to see what happens.