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Well i knew that the upgrade would be good and i was even hoping for a number in the the sixties.But this number was absolutely beyond my wildest imaginations.

 

85 Mlbs at 170 ppm !!! ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ Holy S###

 

Today we can celebrate Christmas,Easter,Birthday and New Years eve for Marenica shareholders. :-))))))

 

A very deep bow for our superb managment and especially Graham Woolford and John Young.

 

These guys made a brilliant job and i have every hope now,that this indeed will be one of the highflyers for 2010.

Now lets see where we open.

 

I am still puzzled how this was possible after the initial upgrade of only 4,6 Mlbs in October...

 

 

 

 

 

 

 

 

 

 

 

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Exactly JMH03,

 

But it is my understanding,that Marenica just entered a new dimension if it comes to size.

 

So a re-evaluation could lead this stock to 4 USD/lbs like its peers.

 

Just have a look at this comparrisson:

 

1.Deep Yellow 57 Mlbs worth 258 Mio AUD valued at 4.04 USD/lbs

 

2.Bannerman 160 Mlbs worth 116 Mio AUD valued at 0,73 USD/lbs

 

3.Berkeley 26 Mlbs worth 184 Mio AUD valued at 6,32 USD/lbs

 

4.Extract 292 Mlbs worth 1.890 Mio AUD valued at 5,76 USD/lbs

 

5.Forsys 56 Mlbs worth 328 Mio CAD valued at 5.53 USD/lbs

 

6.Marenica 85 Mlbs ....

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Hello Australia,

 

I just had some hours to reflect this upgrade,here are my thoughts on the whole matter:

 

1.The Upgrade is definitely way above the expectations!

 

Why could that have happened ? Here is the explanation:

 

"...The SRK estimate has been derived using both GFSA and MEY probe data, with the resulting grades reported as U3O8. This reflects the correction of the original eU3O8 values to U3O8 equivalents, using a linear regression equation prior to estimation of the block grades..."

 

Obviously certain parts were not included in the November upgrade:

 

"....The Mineral Resource estimate reports from a palaeo-channel domain and from secondary mineralisation in the basement which outcrops to the west of the channel and which forms the footwall to the channel deposit. This sub-channel basement domain was previously excluded from the November 2009 resource estimate...."

 

2.Trading...

 

...is dissapointing ! Some bigger party is clearly selling otherways we wouldnt see this sp!

But to stress this point: This is the first day after the announcement and the market probably needs some days to fully grasp what this means for MEY!

I guess we can expect some very fine updates from Fat Prophets and the likes over the coming weeks,so we should have a certain amount of attention.

Furthermore Institutionell Investors will need some time as well to analyse this release and are not likely to decide by "feeling"....

3.What does this Upgrade really mean for us ???

 

 

Well Marenica was valued at 1.95 USD/lbs before this upgrade.

Right now (trading at 0.18 AUD) we are valued at 0.84 USD/lbs.

We just increased our overall resource by 120 % along with considerably increased grades (from 150-155 ppm before to now 170-175 ppm) Now the grades are extremely important if it comes to economics (and again just compare to AREVAs average grades at Trekkopje of 128 ppm !)

 

4.Valuation:

 

I recently showed that the valuation for other uranium exploration companies is somewhere in the 4 USD/lbs area.

Now Marenica just changed from a minor uranium deposit to a worldclass one,well above Forsys or Deep Yellow (as a comparisson) if it comes to the ammount.

 

Further points you have to consider are:

 

-Geology, primary or secundary uranium ? a point which is clearly favourable for MEY

-Depth of the resource:

With our uranium being just 0-40 m below surface we do have an impressive advantage over fellow companies such as Extract ( or BMN,DYL,...) who need to remove 60-300 m of rock just to reach their uranium.

 

As a conclusion:

Congratulation to all the people who are able to buy into this stock at these (ridiculous) low prices (which i didnt think possible after this announcement) but i am willing to take bets that this stock will trade at much higher prices in the shortterm...

 

Enjoy your Day

 

Wantedman

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Yep imo it's the "u" buy stock at the moment at these levels. This Company is way too cheap at present if you follow "u" stocks and believe in the "u" story. Let's see where we are in a years time assuming the market doesn't turn the proverbial.

 

P.S. Great posts! :biggrin: and I doubled my holding and placed it into the bottom drawer. :biggrin:

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Silly games are going on here!

Why we have definately a 4-5-bagger:

 

- 85 mlbs is a range for a stand-alone-project

 

- the pound uranium is valued with 0,9 USD (normal 4!!!)

 

- 16 new mineralisation zones

 

- AREVA took 10,6% of MEY, a prove in "everything is okay with this project"

 

- 80% of resource not deeper than 40 m

 

- heap leaching possible

 

- primary mineralisation-zones possibilities

 

- further paleochanel structures

 

- scoping study in June

 

- may appear of the radar of institutional investors

 

- raising uranium-price

 

...

 

 

It looks like someone wants the sp-level at AREVA-deal-niveau. Give him no chance! Anytime the seller, the wallbuilder has no more shares, so the sp will be raising in fair regions.

 

another example:

lets compare our neighbour Forsys with Marenica...

 

Forsys has a market cap of 347 mio AUD.

They have 71 Mio pound uranium.

So the pound is calculated with 4 USD.

 

Lets look at Marenica:

Marenica has a market cap of 81 mio AUD.

 

 

Marenica has 85 Mio pound uranium.

So the pound is calculated with less than 0.90 USD.

 

Funny that the Marenica resource is much better to mine, than the Forsys one.

 

Isn't this a little bit pervert?

 

 

...it seems, AREVA started the take-over-games yesterday.

The only logical reason for this incredible things, they happened yesterday! AREVA is the only one, who has an advantage in this sp. If another one wants to sell so much, he wouldnt be so stupid and let it see in the orderbook. And further would not throw so cheap. Every person i spoke today couldnt believe this ironic sp. It seems, AREVA has some mates in position for offloading and dumping the sp. The question is: how many shares do they have. The solution for a better and fair sp (35c) is, we need more volume, than they have. If this will happen, we will see a quick-monster-raising of the sp.

So its important to tell everybody about this bad games, AREVA want to play and tell everyone that mey is one of the chaepest and safe x-bagger. We are shareholders, and we want a fair range in SP. After positive scoping-study we have easily a 5-bagger! So lets play our games, and not the games of AREVA.

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they got it. Closed at 20.5c

Very fine...9,7 Mio Buy-Volume, 3,5 Mio Sell-Volume.

BOT very strong. The wall has breaken.

We need to catch the 21c. Then we have a ticket to the old alth at 41.5c from the end of 2007.

So lets going on....we need more volume...

Germany is hitting 14c at the moment.

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http://www.bloomberg.com/apps/news?pid=206...id=aHOHhZ7X8J04

 

Areva’s 2012 Uranium Output Target May Be Trimmed 20% on Prices

 

 

 

By Anna Stablum

 

March 5 (Bloomberg) -- Areva SA, the world’s third-largest uranium miner, may cut its 2012 output target by as much as 20 percent as a slump in prices prompts a review of projects, a company official said.

 

The company said in September it expected to produce about 12,000 metric tons of uranium in 2012 and warned expansion plans could be modified because prices may no longer justify the cost. Uranium for immediate delivery fell 45 percent to $40.50 a pound in 12 months and is 70 percent lower than the record $136 reached in 2007, according to Georgia-based Ux Consulting Co.

 

“There will be either a halt or delays in some of the large projects,” Sebastien de Montessus, the director of Areva’s mining unit, said by phone. “We have the flexibility to lower the 2012 target of 12,000 tons by more than 20 percent depending on market conditions.”

 

Global uranium supply will outpace demand until at least 2017, according to estimates made in December by BMO Capital Markets. Producers started new projects and sought to expand existing mines as prices advanced to a record three years ago.

 

Areva expects to announce a new production target for 2012 in June and projects being reviewed include ones in Niger, Kazakhstan and Namibia, De Montessus said in the interview Feb. 23. Production exceeded 8,500 tons last year.

 

The Paris-based company was the third-largest uranium producer in 2008, behind Rio Tinto Group and Cameco Corp., according to the London-based World Nuclear Association. Data for last year isn’t available yet.

 

McClean Mine

 

Areva closed its 1,500-ton-a-year McClean mine in Canada last year and will suspend production at its McClean Lake mill in the middle of this year. It retains a stake in the 6,000-ton- a-year McArthur River mine, which is still operating.

 

The company also has two mines in Niger, producing a combined 3,000 tons. The potential expansion of one of them, Somair, is being reviewed and a separate project in the country, Imouraren, is already delayed.

 

Areva holds 51 percent of the 3,000-ton Katco mine in Kazakhstan and an expansion there is under review, as is the Trekkopje project in Namibia.

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