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Everything posted by Jay

  1. Jay


    Uranium at $150/lb within a year Allan Seccombe Posted: Thu, 29 Nov 2007 [miningmx.com] -- THE uranium price will move to $150/pound within the next year driven by supply and demand fundamentals, said Uranium One CEO Neal Froneman. The spot price for the energy metal is $93/lb and the long-term price $95. “Our view is that we see uranium at $150 within the next year or so. Market activity is increasing,†Froneman told Miningmx. “The fundamentals are better than six months ago. Production is not reaching levels that were expected and demand is increasing,†he said. The price of processed uranium or U3O8 reached an all-time high of $138/lb in June this year from below $10 seven years ago, but has since pulled backed. Cameco, the world’s largest miner of uranium, has reduced output from its Rabbit Lake operation in Canada because of increased water flows underground at the Eagle Point mine. Rabbit Lake normally produces around four million pounds of uranium a year. Click Here to subscribe to our daily newsletter"Limited mining activity will continue and the mill continues to operate with a small amount of stockpiled ore. This mine has encountered similar situations in the past and dealt with them successfully," Cameco said on Wednesday. Uranium prices shot higher when Cameco’s Cigar Lake flooded. The mine, which is planned to produce 18 million pounds of uranium, will now only start production in 2011 at the soonest instead of this year as originally forecast. Cigar Lake’s output was an important consideration in the uranium market where demand growth is overtaking that of supply amid a concerted effort in a number of countries to build nuclear plants. Nuclear power has crept back into fashion because of growing global concerns about climate changed caused by burning fossil fuels. There are 435 nuclear plants operating in 30 countries. Twenty-nine new nuclear plants are under construction 12 countries. And, in the USA, 48 nuclear plants have received license renewals, with 34 more expected, according to TradeTech President Treva Klingbiel. China’s uranium demand will grow to 7,000 tonnes by 2020 from the current 1,000 tonnes as it extends its nuclear plant programme, Li Junjie, director of the uranium material department of the State Nuclear Power Agency, said in November.
  2. i applied for 40k and received the entire lot. in my account this morning.
  3. Jay


    good news out today: Sally Malay Mining Limited (ASX Code: SMY) is pleased to announce that the Company and its joint venture partner, Thundelarra Exploration Limited (Thundelarra), have signed Co-Existence Agreements with the Traditional Owners, represented by the Kimberley Land Council (KLC), in relation to Sally Malay’s mining operations at its namesake mine and the Sally Malay/Thundelarra Copernicus Joint Venture Project, both located in the East Kimberley. Separate Co-Existence Agreements have been executed pertaining to the Sally Malay leases and the Copernicus Joint Venture lease application and will provide the Traditional Owners (TO’s) with a significant community benefits package, including the following: • Net Smelter Return based royalties (payable in cash) based on production from both Sally Malay and Copernicus for the 2006/07 fiscal year onwards (the NSR for the 2004/05 and 2005/06 fiscal years for the Sally Malay Project will be satisfied by the issue of 447,505 Sally Malay shares); • financial assistance for education and health programmes; • financial assistance for employment services aimed at increasing TO’s involvement with the Company’s activities in the East Kimberley; and • various obligations on Sally Malay and Thundelarra to provide opportunities for TO’s to participate in specific contracts to be awarded by the companies in the future. This is a significant development for the Company and its JV partner in the following ways: • it demonstrates our willingness to engage with the TO’s and reach a mutually acceptable outcome; • will provide the TO’s with financial support for the betterment of current and future generations; • ensures a secure future of our mining and processing operations in the East Kimberley; and • paves the way for the development of the Copernicus Joint Venture, subject to the granting of the mining lease and all necessary statutory approvals. Wayne Bergmann, Executive Director of the KLC, said “these agreements provide clear proof of what can be achieved when underlying principles of partnership and mutual respect form the basis of negotiations. By adopting a long term, mutually beneficial approach in negotiations, the KLC, Traditional Owners and resource companies are able to come to win-win agreements.†“The leadership shown by both Traditional Owners and the companies, particularly the respective boards and senior management is to be applauded,†said Mr Bergmann. “Their commitment and goodwill has allowed us all to understand what is important to each other, and to find common ground based on respect.†Yours faithfully, SALLY MALAY MINING LIMITED PETER HAROLD Managing Director
  4. In reply to: romaioi on Monday 12/11/07 11:11pm JRL do hold 40% of the company and will be entitled to the 1 for 20 rights, which will automatically increase JRL shareprice imo.
  5. spot nickel up nearly 8% as i type from LAX. spot gold also flirting with A$915 an ounce. could be a FAT opening on Monday!!!
  6. where are you percival??????? lol
  7. December gold futures currently up $24 an ounce. Bronzewing just got a lot more profitable!
  8. From Fat Profits this evening after the market closed View Resources recently produced its first gold from its recommissioned Bronzewing gold mine in Western Australia. Unfortunately, the production ramp-up took longer than planned, meaning the company's cash levels were left uncomfortably low. As a result, View has completed a $10.6 million capital top-up to replenish its cash position and also close out its gold hedge book. This short-term pain will mean the company is better off in the long run, as it will boost the company's earnings through full exposure to the spot gold price. "With the capital raising behind it, the company can focus all of its energies on maximising the performance of its Bronzewing operation." From a charting perspective, view's performance over the past four months has been disappointing. As evident on the daily chart, the share price has corrected from a high of 52.5 cents in June, to a low of 21.5 cents in October. Despite this weakness, the more recent price action suggests a base is now forming, with support now in place at 21.5 cents. In the weeks ahead, although we cannot rule out minor dips, we anticipate additional consolidation between 21.5 cents and resistance at 33.5 cents. Taking a broader outlook, we are encouraged that the recent lows have held well above the lows of 2005 and 2006 at 13 cents. In the coming months, we believe there remains potential for a revival in upward momentum, with a break above 33.5 cents to return focus to the June high of 52.5 cents. As we have previously pointed out, it is not uncommon for new mining operations to encounter operational hiccups in their early stages. This is the case with Bronzewing, which did not achieve its forecast September quarter production target, but which we understand is now close to reaching its targeted annualised production rate of 120,000 ounces during the current quarter. This means the project should be cash positive early next year. We understand that higher-grade ore from the Venus pit, the Cockburn and Discovery deposits, as well as increased tonnages from the Central pit, are now flowing through to the plant. This should have a major positive impact on gold production levels and thus earnings. Encouragingly, the Bronzewing plant continues to operate efficiently and is close to achieving name-plate capacity. With respect to de-hedging, View is following the lead of the world's major gold miners and more recently Australia's two biggest listed gold producers, Lihir and Newcrest, in closing out its hedgebook. This will allow the company to enhance its earnings and corporate appeal at a time when gold prices are at a 27-year high. Encouragingly, View's major shareholders, Austral-Asia Resources & Infrastructural Investments Pty Ltd, and Lion Selection, have continued their support for View and participated in the placement. View is also making great strides with its Carnilya Hill nickel joint venture project with Mincor, which should see first ore delivery during January 2008 and positive cashflow by mid-2008. View Resources is therefore in the enviable position of having two separate income streams from two different commodities. This provides Members with income diversity that is often lacking in most small one-project junior companies. Members will know that View Resources was one of our very first recommendations in the Fat Prophets Mining & Resources report. We believed then as we do now, that the company possesses all of the necessary ingredients to become a medium to long-term success story. View recently announced the pouring of its first gold bar at its Bronzewing gold project in Western Australia. The recent share price performance tells the story, with the upward trend associated with a re-rating as View attained producer status. Achieving first gold production is the culmination of several years of very hard work by the View Resources team, especially during the early days when gold was well and truly out of favour with investors. We still envisage start-up year 2007/08 gold production of 100,000 ounces, increasing to 120,000 during subsequent years. With the company's newly unhedged status, every A$10 increase in the spot gold price above A$840 per ounce adds A$5 million to the life-of-project returns. Gold production over an assumed initial four-year mine life at Bronzewing would generate around 480,000 ounces of bullion, which in turn would generate around $95 million in net cash flow over this four-year period. This is based on an assumed A$840 per ounce gold price. At the moment the A$ gold price is currently trading at around A$900 per ounce, so this would add around A$30 million in extra value to the Bronzewing project. We anticipate this to be just the start of a substantial medium-term gold operation, with additional mine life sourced from new discoveries and regional treatment of third party ore made profitable by the surging gold price. Meanwhile, Carnilya Hill is set to provide View Resources with its second source of production and cashflow very soon. Having a second income source further de-risks the company and significantly adds to its overall appeal. In our opinion, View Resource remains cheap despite the trials and tribulations associated the Bronzewing project ramp-up and the additional dilution associated with the extra fund raising. Accordingly, View Resources will remain firmly held within the Fat Prophets Mining & Resources portfolio, but for Members with no current exposure we recommend the stock as a Buy around 24 cents.
  9. Jay


    In reply to: kennedyn on Thursday 01/11/07 09:36am I am surprised 52c hasn't been taken out, given how strong UMC is today. I guess someone will have the balls soone enough and give it a tickle...
  10. Jay


    Has anyone else noticed that 11million 65.5cent options are due to expire on 20th November. This is great news either way whether they expire in the money or out. On one hand, it means less dilution if they expire worthless, on the other it would solve the funding problem for Copernicus. I wonder if the company has something up its sleeve to get them over the line or not?? Been doing more research on the weekly chart. The range up from 28.5 to 61.5 gives us a range of 33 points. you would expect it to come back 50% and reverse and go into an uptrend once again. The 50% mark was 45, the low was 44.5 and only by a few shares that traded there. The trend is now back up and the weekly moving averages have crossed bullish today. Next target, being 100% of the range ie 44.5 + 33 = 77.5 and a break of the previous high. After that and the subsequent pullback, the long term double bottom gives us a target somewhere near $1.21. Just my take on things, but by the looks of the chart we could be in for a very very good few weeks ahead.
  11. Jay


    In reply to: gottsy on Wednesday 31/10/07 02:09pm THX lagging UMC in a big way and on small volume so far. Could be the better way to play this now that UMC has already bolted imo. You basically get all of THX's other projects for free!
  12. From the Mincor Qtrly Report. Sounds like everything along as scheduled and on time. Carnilya Hill (Mincor 70%) Site works to reinstall surface infrastructure at Carnilya Hill continued during the quarter and were largely complete by quarter end. The mining contractor mobilised all required equipment and personnel to site early in the quarter. Mincor has all currently required staff on-site and is recruiting the remaining personnel in time for the production ramp up. Rehabilitation of the existing decline commenced early in the quarter and was completed by mid-September. 2000 metres of decline was scaled and re-bolted and a further 600 metres was check scaled and bolted as required. Development of the new decline to the top of the A01C ore surface commenced late in the quarter and by month end 111 metres had been achieved. First ore from the A01C ore surface is expected to be mined in January 2008.
  13. In reply to: percivalw on Tuesday 30/10/07 08:21pm I am currently holding THX, PPP, UMC, MPO, that may fit your strategy.
  14. In reply to: Wossname on Tuesday 30/10/07 09:03am just what we have been waiting. price will rally after the news is out imo.
  15. Jay


    In reply to: ShareNovis on Monday 29/10/07 10:47am all nickel producers are up a bit today with JBM receiving a $23 per share take over bid from XStrata. More to come in the Nickel and Gold sectors over the next few months.
  16. Jay


    In reply to: grommit on Monday 29/10/07 10:22am a few tiny retail orders going through this morning and a thin buy side. 44.5 - 45 will hold imo, and we should rally off here.
  17. Jay


    should be any day now. unfortunately its all in the labs hands now, and they are super busy. i would hope they will be announced before the qtrly due earlu next week. UMC up some this morning, THX down on skinny volumes. should rally this arvo imo.
  18. Jay


    In reply to: ShareNovis on Wednesday 24/10/07 02:23pm as a beginner sharenovis, do yourself a favour and stop thinking its all a conspiracy. OSH has about a billion shares on issue and volume of 8mill or more are the norm.
  19. In reply to: percivalw on Wednesday 24/10/07 07:10pm dont know why you are complaining for mate. according to your three listed trades in VRE you have lost a miserbale 3 points on the first, made a profit on the second and so far are on a paper profit on the third. you are new to investing trading, sometimes patience is required. you borked at my comment about chasing the hot money a few days ago, yet it seems that is what you want with the constant whinging each and every day VRE doesnt go through the roof. Businesses take time to grow, and PNA is a prime example. Many ppl on these forums waited a couple of years while it bounced between 15 and 30c before the proper run started, dismayed at how it was so cheap for so long. You jumped on for the ride without doing the hard work all those guys did. VRE is building a business that will be around for a long time. the guys running the show have been in successful mining businesses for 20-30 years, so let it breathe mate. Whats a few months in the scheme of things? Day to day movements albeit frustrating when they drop or do nothing do not matter in the longer term. Quarterly report will be out in the next day or so and that should clarify things a little for everyone who is concerned. Just because a stock does not go up, does not mean the business is no good...........
  20. In reply to: percivalw on Wednesday 24/10/07 12:35pm call Tim gooch and ask him some questions if you have concerns percival.
  21. In reply to: percivalw on Tuesday 23/10/07 10:12am the instos will step up once management prove that things are running smoothly and Carnilya Hill is up and going and producing the dollars it should. This will all occur in the next few months imo. you have had two winners and one losing position and you are knew to trading. you are doing better then most here mate. most new punters lose plenty and can't find a winner to save themselves, so pat yourself on the back. sit back and let VRE prove itself over the next few months. The instos all always slow to pick up on cheap stocks. OXR for example was a screaming buy to all on the forums when it was under a buck based on prejected earnings. It wasnt till much later when the instos started piling in once management proved itself. sit back and relax mate.
  22. In reply to: percivalw on Tuesday 23/10/07 09:42am because its on forwards earnings of approx 2-3 times and represents extreme value percival. geez mate, some patience is needed. if you want to chase the hot money by all means go ahead. eventually that strategy will send you broke though.
  23. Jay


    In reply to: ShareNovis on Sunday 21/10/07 12:23pm Friday night was a fake out by Wall Street not a shake out. More of an "for old time's sake" move. The Dow will more the likely bounce back 200 points on monday. Anyone who sells on Monday morning is quite clearly wrong imo.
  24. Jay


    In reply to: ShareNovis on Sunday 21/10/07 11:45am Sharenovis, i have begun buying PPP late last week.
  25. Jay


    In reply to: simongould on Wednesday 17/10/07 04:33pm went up because UMC went up and market realised THX was grossly undervalued. I topped up at 51 and 51.5. Expecting THX to finish green by a few penny's tomorrow. I am a long term holder. Can't wait to see the drill results from Francis Maude in the next week or so!
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