Sean K
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WME - West Australian Metals
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Kennas, I'm curious you seem much more of a techie than me,
Where is WME's resistance, I thought it was at 16/16.5c but your line seem to be elsewhere?
Where is WME's resistance, I thought it was at 16/16.5c but your line seem to be elsewhere?
Sean K
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YT,
Yep, you're right, the resistance is around .165.
The previous support level should be the resistance on the way back up.
Yep, you're right, the resistance is around .165.
The previous support level should be the resistance on the way back up.
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Hmmm 16.5c cleared, is this a breakout?
Probably want to see it take out 17c with more vol sitting on 16.5c to confirm
If so next stop 24c!
Probably want to see it take out 17c with more vol sitting on 16.5c to confirm
If so next stop 24c!
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Explorer plans near-Rossing uranium campaign
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Australian-listed West Australian Metals (WME) has been granted approval by Namibian Mines and Energy Minister Erkki Nghimtina to earn a majority stake in the Marinica uranium project and plans to begin an exploration campaign in the not-too-distant future.
In April, the Australian explorer entered into an agreement to earn 80% equity in the Marinica project, located in the same province as the Rossing mine, which supplies seven per cent of the world’s uranium production, by spending N$1,5-million on exploration.
The WME project, which covers 706 km² between the Namibian capital, Windhoek, and the port city of Walvis Bay, comprises the Marinica uranium mineralised palaeochannel, similar in size to the Langer Heinrich palaeochannel, which is 17 km in length and varying from 200 m to 800 m in width.
Previous drilling at Marinica reported uranium mineralisation ranging up to 8,1 metres grading 480 g/t U3O8 at an average depth of four metres.
However, WME CEO Leon Reisgys said in a media statement that past exploration seemed to have been limited and that the company was planning detailed modern exploration to locate mineralisation that might be concealed beneath clay and other cover, both in the Marinica and secondary palaeochannels.
“The regional geology also indicates the potential for concealed hard rock uranium targets in the project area, including Rossing-style mineralisation.”
Reisgys said a major exploration programme to delineate uranium deposits within the project area would start as soon as the Marinica Uranium Project was granted an Environmental Contract by the Namibian Ministry of Environment and Tourism.
“This permitting requirement is well advanced and WME executives will travel to Namibia over the coming weeks to prepare initial work programmes for Marinica,” he said.
“The proposed exploration programme will include radiometric surveying, processing and the interpretation of satellite imagery, geochemical sampling and drilling to define palaeochannels and to ascertain the nature and distribution of uranium mineralisation within the channel sediments.”
Earlier, the company said that Namibia was one of Africa’s stabler countries. “The introduction of the Marinica Project presents WME with the opportunity to identify resources in an area of significant, widespread uranium mineralisation and to evaluate and secure other exploration and mining properties in a country which supports the development of its uranium assets,” it said.
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Australian-listed West Australian Metals (WME) has been granted approval by Namibian Mines and Energy Minister Erkki Nghimtina to earn a majority stake in the Marinica uranium project and plans to begin an exploration campaign in the not-too-distant future.
In April, the Australian explorer entered into an agreement to earn 80% equity in the Marinica project, located in the same province as the Rossing mine, which supplies seven per cent of the world’s uranium production, by spending N$1,5-million on exploration.
The WME project, which covers 706 km² between the Namibian capital, Windhoek, and the port city of Walvis Bay, comprises the Marinica uranium mineralised palaeochannel, similar in size to the Langer Heinrich palaeochannel, which is 17 km in length and varying from 200 m to 800 m in width.
Previous drilling at Marinica reported uranium mineralisation ranging up to 8,1 metres grading 480 g/t U3O8 at an average depth of four metres.
However, WME CEO Leon Reisgys said in a media statement that past exploration seemed to have been limited and that the company was planning detailed modern exploration to locate mineralisation that might be concealed beneath clay and other cover, both in the Marinica and secondary palaeochannels.
“The regional geology also indicates the potential for concealed hard rock uranium targets in the project area, including Rossing-style mineralisation.”
Reisgys said a major exploration programme to delineate uranium deposits within the project area would start as soon as the Marinica Uranium Project was granted an Environmental Contract by the Namibian Ministry of Environment and Tourism.
“This permitting requirement is well advanced and WME executives will travel to Namibia over the coming weeks to prepare initial work programmes for Marinica,” he said.
“The proposed exploration programme will include radiometric surveying, processing and the interpretation of satellite imagery, geochemical sampling and drilling to define palaeochannels and to ascertain the nature and distribution of uranium mineralisation within the channel sediments.”
Earlier, the company said that Namibia was one of Africa’s stabler countries. “The introduction of the Marinica Project presents WME with the opportunity to identify resources in an area of significant, widespread uranium mineralisation and to evaluate and secure other exploration and mining properties in a country which supports the development of its uranium assets,” it said.
Sean K
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Looks like it might take .17 unless those buy orders are foxing.
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Breakout?
It opened at 18.5c! Has held above 17c
What do you reckon K?
It opened at 18.5c! Has held above 17c
What do you reckon K?
Sean K
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I'd like to see it hold above .17 for at least a day. As you have said, the next target would be around .24c after it breaks this resistance. Will be looking at it in the morn.
I'm thinking trade at the moment, but I might also just buy and hold this for long term potential. Hhmmm
I'm thinking trade at the moment, but I might also just buy and hold this for long term potential. Hhmmm
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Dear Sir/Madam,
The Directors of the company are pleased to announce that a program of trench, pit and surface
sampling together with hand-held radiometry has commenced over the Marenica Uranium project in
Namibia. This work follows the granting in July 2006 of an environmental clearance for Exclusive
Prospecting Licence No 3287 (EPL 3287).
That was ann 2 weeks ago, so todays' action could be some positive results?
Or it could just be traders, but based on action I'd expect an ann next week
The Directors of the company are pleased to announce that a program of trench, pit and surface
sampling together with hand-held radiometry has commenced over the Marenica Uranium project in
Namibia. This work follows the granting in July 2006 of an environmental clearance for Exclusive
Prospecting Licence No 3287 (EPL 3287).
That was ann 2 weeks ago, so todays' action could be some positive results?
Or it could just be traders, but based on action I'd expect an ann next week
Sean K
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Sean K
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Day traders be careful re this stock, its a great U company in Nambia, but they are doing a 15m share placement, will probably be at 12c, I'd expect a suckers rally to take the price up pre placement
Also they have released an estimate of a deposit from previous drilling, 8mt grading 0.02% or 200ppm thats not going to make anyone rich! Not unless U price gets to $200 us/lb
Also they have released an estimate of a deposit from previous drilling, 8mt grading 0.02% or 200ppm thats not going to make anyone rich! Not unless U price gets to $200 us/lb
Sean K
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Ann out with some better grades sizes and grades.
3m @ 1,483 ppm
5m @ 868
80 @ 241 incl 5 @ 590
50m @ 160
125 @ 120
Up 25% yesterday - who says there's insider trading!?
I wouldn't be surprised to see another 25% this am.
3m @ 1,483 ppm
5m @ 868
80 @ 241 incl 5 @ 590
50m @ 160
125 @ 120
Up 25% yesterday - who says there's insider trading!?
I wouldn't be surprised to see another 25% this am.
Sean K
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chris1983 said:
Buying depth quite large. Mightn't be able to get on this early and miss the boat.
I've been watching this for months waiting for an opportunity and would have bought in yesterday with that volume. But instead was watching a stupid horse race.
Sean K
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This could open up 30% by the look. Probably then come off a little. Aaaahhhhh!!!!!!!!!
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If you read carefully you'll notice that avg grade is just below 0.02% so those higher grade intercepts may pull avg grade up to 0.03% or so, but make no mistake so far it looks like a very low grade deposit, that being said funny how just yesterday I commented on it may have a 'suckers rally'
They are doing a 15m share placement, how convenient is it that their samples are being released today
They are doing a 15m share placement, how convenient is it that their samples are being released today
Sean K
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Thanks YT. Looks like the suckers who bought and held yesterday will be knocking off early today for some Moet and Chandon.YOUNG_TRADER said:If you read carefully you'll notice that avg grade is just below 0.02% so those higher grade intercepts may pull avg grade up to 0.03% or so, but make no mistake so far it looks like a very low grade deposit, that being said funny how just yesterday I commented on it may have a 'suckers rally'
They are doing a 15m share placement, how convenient is it that their samples are being released today
Might be one of those stocks that runs for 2 days and then everyone realises it's not that flash??
Sean K
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kennas said:
I hate it when I'm right.
Hope no one bought at the high on open. Well off that now. Perhaps punters looked into the numbers and weren't that impressed? Or perhaps players are becoming a little more anxious when there are such big rises, and now some profits being taken.
