Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >


kaleon
Posted on: Jan 6 2011, 06:12 PM


Group: Member
Posts: 61

BCC had considered 3D as part of a larger drilling program but were content with 2D for the limited number of wells they planned to kick off LC
  Forum: By Share Code

kaleon
Posted on: Jan 6 2011, 01:46 PM


Group: Member
Posts: 61

pelican,




the oil saturation has already been observed by another poster who is a geologist.  This was his response:




'It is no surprise the section is "oil-saturated" since it is an organic rich source rock. The important question is whether commercial production can be established at the shallow depths in Lee County.
Since the most recent well has "suddenly" encountered the E.F. in the planned trajectory for the Chalk horizontal, it is likely that a fault was encountered, which may or may not prove to be a source of water as observed in other examples. Further it is unlikely that without the horizontal borehole the well will not produce commercial volumes. Secondly it demonstrates the inability of the operator to accurately map these fault zones, since they are to be avoided. Neither observation is good news.'


  Forum: By Share Code

kaleon
Posted on: Oct 4 2009, 11:03 AM


Group: Member
Posts: 61

If Pompano comes good and flows at 5000mcf then 8c is not out of the question. However what will really move the price is Lee County. BCC plans to drill 10 wells there and with the neighbouring tenement having a success rate of 11 out 12 this could be a company maker for BCC.


From HC regarding Lee County:

Flowing at an average of 750 Bopd. Drill those wells and our cut is around 3000 bopd or 200,000 us per day or 75 mil us a year. If you start to to convert to AUD is around 87 mil aud. With a mc of 10 mil now, if start to even work on a P/E ratio of 4 it put the mc at around 320 mil and a p/e of 4 is pretty conservative. You start to see why BCC is so undervalued. We have been talking about 20 cents, by the conservative P/E you are looking at an sp of $1.32. even if you pare it back the sp by mid next year will be way above 20 cents. Not to often you get a oiler in a brown field thats looking at those sort of returns.
  Forum: By Share Code

kaleon
Posted on: Oct 1 2009, 12:59 PM


Group: Member
Posts: 61

BCC is starting to show some action for us long time suffering holders. Could this be the turning point? Certainly nice to see debt wiped clean  and workover proceeding with Pompano. Hoping that the workover is a success. And what about Lee County? Surely that must be a success given historical success results had approached 100%. That could be the company maker. And then all those other projects that are lowplay. The mind boggles where the share price will be in a year from now.




Wonder if uraniumbull is still holding? Would love to hear his thoughts.

  Forum: By Share Code

kaleon
Posted on: Aug 28 2009, 12:57 AM


Group: Member
Posts: 61

Anyone have any thoughts on BCC?

At this stage Im relieved the sale of Pompano did not go through. 

I still believe it is undervalued given all the projects in its portfolio.

I am thinking that Natural Gas has reached its low and hopefully we will start seeing a recovery soon. 

What are peoples thoughts on the renounceble rights issue and where do people see BCC in the future?

  Forum: By Share Code

kaleon
Posted on: Apr 20 2009, 08:37 PM


Group: Member
Posts: 61

A few months back I did a study on seasonal returns for the sectors. It was painstaking but I coded the results of the median % return each of the different sectors.  Below is the financial sector and as you can see its worse performing months are May and June. In view of all the bearish divergences and resistances we are encountering in both the XJO and XFJ, I have to say that a short on financial stocks would not be too bad an idea. CBA has powered the most since the 9/3/09, up 38% as of Fridays close, followed by NAB,ANZ and WBC. So choosing CBA for a short may be the go.



  Forum: Macro Factors

kaleon
Posted on: Apr 18 2009, 09:56 PM


Group: Member
Posts: 61

Hi Arty,



From a post on Hotcopper:



There appears to be bearish divergences in most of the world indices. 

Yesterdays selloff suggest a sharp pullback in the coming days.

The XJO has hit a major resistance level between 3800 and 3850. It also has hit an important fibonacci level (I have used the 5000 level as major overhead resistance and the low of 3100)


The Broadmarket indicators also suggest a selloff. There is bearish divergence between the McCleelan Oscillator and the XJO

  Forum: Macro Factors

kaleon
Posted on: Feb 4 2009, 02:01 AM


Group: Member
Posts: 61

Just going through the Quarterly I note the directors have a total of $3.5million per year renumeration, Chris Burton getting over $1million per year and base pay $500k for 2 years if his position is terminated in addition to 50% of unvested performance options. Very lucrative termination deals for all directors.

In addition I note that they are liable for $2.4million US ($4million AUD) for environmental liabilities.

Interest to Macca was $85,000K US($140,000AUD) per month. Now $70,000AUD per month after repayment of $5-million US

And they have $700K US left in cash.

Oil and Gas prices are very low and I really am not sure how much they are getting from Pompano even with their hedging. Not very much..

So really they are not in a very good position financially.

How are the directors going to get paid and what about further acquisitions and further exploration given their dire financial situation?

Is this company really as good as we have been made out to believe??
  Forum: By Share Code

kaleon
Posted on: Feb 3 2009, 04:21 PM


Group: Member
Posts: 61

Strange oversight by ubull given the quality of his posts and his excellent insight into companies he comments on.
  Forum: By Share Code

kaleon
Posted on: Feb 3 2009, 04:17 PM


Group: Member
Posts: 61

good point thegman regarding debt. They just repaid $5m of a $10m debt which they say was on their instigation. What I would like to know now is will there be capital raising in order to fund other acquisitions? I still see this as a quality company but not nearly so attractive given its cash position now.
  Forum: By Share Code

kaleon
Posted on: Jan 23 2009, 09:36 PM


Group: Member
Posts: 61

Hey UB, What are your cureent views on ARE in light of the current commodity decline especially with Zn and Cu. Thanks
  Forum: By Share Code

kaleon
Posted on: Jan 19 2009, 08:22 PM


Group: Member
Posts: 61

Hey Ubull. Would like to hear what your views are at the moment
  Forum: By Share Code

kaleon
Posted on: Nov 25 2008, 08:56 PM


Group: Member
Posts: 61

In reply to: arty on Tuesday 25/11/08 04:47pm

Maybe people in the know about the failed BHP-RIO takeover taking money out of RIO and putting it in IGO?
  Forum: By Share Code

kaleon
Posted on: Oct 12 2008, 08:42 PM


Group: Member
Posts: 61

K1 in no jest whatsoever
Attached image(s)
Attached Image

 
  Forum: Investment Discussion

kaleon
Posted on: Oct 10 2008, 06:44 AM


Group: Member
Posts: 61

In reply to: dee27 on Friday 10/10/08 06:37am

Yes K1 ....Looking forward to what you have to say!
  Forum: Investment Discussion

kaleon
Posted on: Oct 1 2008, 12:57 AM


Group: Member
Posts: 61

In reply to: mercury on Wednesday 01/10/08 12:36am

Mercury,

Its another name for the bond market
  Forum: Investment Discussion

kaleon
Posted on: Sep 30 2008, 11:18 PM


Group: Member
Posts: 61

Given what we are seeing in the US, nothing seems impossible. The fixed income markets have shut down. The outflow of capital from funds (esp hedge funds) is resulting in a steep drop off in commercial paper. Cost of credit default swaps has gone through the roof...banks don't trust each other..LIBOR has spiked. The private sector is not willing to make capital available, so someone has to lubricate the global economy.

Agree asset values are high,but how does the US manage an orderly decline to more sensible values without overshooting on the downside like they have on the upside?
  Forum: Investment Discussion

kaleon
Posted on: Sep 1 2008, 06:20 PM


Group: Member
Posts: 61

Maybe you've seen this already - I hadn't.

Love it!!



HELL EXPLAINED BY CHEMISTRY STUDENT

The following is an actual question given on a University of Washington chemistry mid term.

The answer by one student was so “profound” that the professor shared it with colleagues, via the Internet, which is, of course, why we now have the pleasure of enjoying it as well

Bonus Question: Is Hell exothermic (gives off heat) or endothermic (absorbs heat)?

Most of the students wrote proofs of their beliefs using Boyle’s Law (gas cools when it expands and heats when it is compressed) or some variant.

One student, however, wrote the following:

First, we need to know how the mass of Hell is changing in time. So we need to know the rate at which souls are moving into Hell and the rate at which they are leaving. I think that we can safely assume that once a soul gets to Hell, it will not leave. Therefore, no souls are leaving. As for how many souls are entering Hell, let’s look at the different religions that exist in the world today.

Most of these religions state that if you are not a member of their religion, you will go to Hell. Since there is more than one of these religions and since people do not belong to more than one religion, we can project that all souls go to Hell. With birth and death rates as they are, we can expect the number of souls in Hell to increase exponentially. Now, we look at the rate of change of the volume in Hell because Boyle’s Law states that in order for the temperature and pressure in Hell to stay the same, the volume of Hell has to expand proportionately as souls are added.

This gives two possibilities:

1. If Hell is expanding at a slower rate than the rate at which souls enter Hell, then the temperature and pressure in Hell will increase until all Hell breaks loose.

2. If Hell is expanding at a rate faster than the increase of souls in Hell, then the temperature and pressure will drop until Hell freezes over.

So which is it?

If we accept the postulate given to me by Teresa during my Freshman year that, “It will be a cold day in Hell before I sleep with you,” and take into account the fact that I slept with her last night, then number two must be true, and thus I am sure that Hell is exothermic and has already frozen over. The corollary of this theory is that since Hell has frozen over, it follows that it is not accepting any more souls and is therefore, extinct...... leaving only Heaven, thereby proving the existence of a divine being which explains why, last night, Teresa kept shouting “Oh my God.”
  Forum: Off Topic Chat

kaleon
Posted on: Oct 25 2007, 01:21 AM


Group: Member
Posts: 61

FREE CAT TO GOOD HOME

http://youtube.com/watch?v=zRWB3rtCwTY

laughingsmiley.gif
  Forum: Off Topic Chat

kaleon
Posted on: Sep 12 2007, 08:49 PM


Group: Member
Posts: 61

In reply to: uraniumbull on Wednesday 12/09/07 08:42pm

Aparently someone on HC just spoke to Arc. They are at 3000 meters drilling 5 to 10 meters per hour. They expect to be at TD anytime between 24 to 48 hours.
  Forum: By Share Code

kaleon
Posted on: Sep 11 2007, 02:27 PM


Group: Member
Posts: 61

In reply to: alazarus on Tuesday 11/09/07 01:51pm

I assume you are referring to UB.

I have the utmost respect for UB. No one gets it right all the time but UB sure comes close to it. I don't believe that he ramps. He just gives his honest opinion and we can draw our own conclusions from that.

I have followed his advise on AGS and stuck it out for a year through its ups and downs. There were times when I wanted to cut my losses but each time I read his thread here on SS I felt more confident holding on to them.When he announced to the forum he had disposed of the majority of his AGS holding I followed suit although I wished he had told me a day earlier so I could have sold them for $2.34 instead of $2.15.

I have a holding in EMR and JAK through reading his posts here. He has said that he is holding on to his EMR shares and so will I.

I think a lot of people have already forgotten about Alice. It may yet suprise us.

But like most of you here, I am holding for CB. If it fails I feel at peace knowing that there is a good chance of Alice suceeding which would be worth up to 40c per share. I also feel secure in the knowledge that at worse EMR is worth 19c.

I hold a EMR with an average price of 22c and am happy to continue to hold as I am sure that in the coming months the price will head north
  Forum: By Share Code

kaleon
Posted on: Sep 10 2007, 03:35 PM


Group: Member
Posts: 61

In reply to: omega 3 on Monday 10/09/07 03:33pm

I don't know if you would call this announcement positive. Maybe some of the more seasoned contributors may be able to shed some light on this announcement
  Forum: By Share Code

kaleon
Posted on: Sep 7 2007, 04:03 PM


Group: Member
Posts: 61

I can only imagine that the delay means something exceptional. They want to get their figures right before releasing it to the market. If the results were bad I think we would have known about it by now ( don't really need to check bad results again IMHO)
  Forum: By Share Code

kaleon
Posted on: Sep 7 2007, 02:15 PM


Group: Member
Posts: 61

In reply to: maxmac on Friday 07/09/07 02:05pm

I would take anything said on HC with a grain of salt
  Forum: By Share Code

kaleon
Posted on: Sep 6 2007, 11:27 AM


Group: Member
Posts: 61

Greggy from ASF had spoken to Bob Berven this morning. This is from the ASF

'I spoke to EMR's Technical Director, Bob Berven (Mob no. 0419 912 963), about 30 minutes ago and asked him a number of questions. I found him to be very helpful and says he's more than happy to talk anytime.
In relation to Valentine 1, a high risk well, he's more positive than ever before about its prospectivity. They didn't expect to find anything like 6 gas readings as it wasn't the primary target. He now believes that the chances for success have now risen considerably. Hopefully, he said, there will be more news coming out before the end of the week in relation to Valentine 1 which will give a clearer indication.
After evaluation, they intend to drill down to the primary target. He believes that Valentine 1 could well be a company maker, but that there's also great potential in the US. More news should be coming out next week from their US drilling operations. One also has to realise that the RJ Hunter 1 well (10% interest) encountered a 50+ foot gas sand at the NW Alice prospect. They're hoping to drill this prospect again by year's end following further study. Mr Berven thinks that this prospect alone could be worth 40c per share should all go to plan.
Mr Berven also informed me that they have recently done a broker roadshow through the eastern states visiting over 24 brokers where he believed the reception was positive.'




Comments?
  Forum: By Share Code

kaleon
Posted on: Sep 4 2007, 02:54 PM


Group: Member
Posts: 61

In reply to: kelix on Tuesday 04/09/07 02:43pm

So what does this all mean? Have the chances of success at valentine improved with this result?
  Forum: By Share Code

kaleon
Posted on: Aug 28 2007, 02:19 PM


Group: Member
Posts: 61

In reply to: ShareScene.com on Tuesday 28/08/07 01:59pm

Okey Dokey smile.gif
  Forum: Investment Discussion

kaleon
Posted on: Aug 27 2007, 11:29 PM


Group: Member
Posts: 61

In reply to: ShareScene.com on Friday 24/08/07 05:18pm

I noticed entries for the September comp opened on the 25th August. Where do you go to make your selection?
  Forum: Investment Discussion

kaleon
Posted on: Aug 26 2007, 05:57 PM


Group: Member
Posts: 61

In reply to: King Baz on Sunday 26/08/07 05:48pm

'I think that if the current V/SB well is a dud, that it might as well be all over for EMR'

What do you mean all over?? Definitely for EGO but EMR???
  Forum: By Share Code

kaleon
Posted on: Aug 7 2007, 10:26 AM


Group: Member
Posts: 61

In reply to: alazarus on Tuesday 07/08/07 10:20am

EMR has a MC of $10mil. EGO has a MC of $30mil. I think I know which stock to put my money in!
  Forum: By Share Code

kaleon
Posted on: Jul 28 2007, 04:16 AM


Group: Member
Posts: 61

In reply to: jane007wang on Friday 27/07/07 08:03pm

Ditto smile.gif
  Forum: By Share Code

kaleon
Posted on: Jul 20 2007, 11:19 AM


Group: Member
Posts: 61

Hi

Has anybody got views on the loyalty options 1:1 excercise price 20c? Is it worthwhile investing in CAV to get these options? I am sure the price of the heads would fall once the register date for the options lapses. But surely we are over $1.40 in the money
  Forum: By Share Code

kaleon
Posted on: Jul 5 2007, 05:50 PM


Group: Member
Posts: 61

Unfortunately I see the share drifting further down to 15.5c and maybe lower to cover the gap especially if we have a weak market in the coming days. sadsmiley02.gif
  Forum: By Share Code

kaleon
Posted on: Jul 5 2007, 11:11 AM


Group: Member
Posts: 61

In reply to: Brierley on Thursday 05/07/07 11:04am

maybe ubull could post some comments on the new aalsis re risk reward
  Forum: By Share Code

kaleon
Posted on: Jul 4 2007, 12:44 AM


Group: Member
Posts: 61

Just thought I would start a thread on good arbitrage opportunies Eg The Rinker deal. Would be good to share and help fellow SSs make free money laughingsmiley.gif
  Forum: Investment Discussion

kaleon
Posted on: Jun 14 2007, 12:34 PM


Group: Member
Posts: 61

In reply to: uraniumbull on Thursday 14/06/07 12:31pm

Thanks Ubull.

smile.gif
  Forum: By Share Code

kaleon
Posted on: Jun 14 2007, 11:36 AM


Group: Member
Posts: 61

In reply to: uraniumbull on Thursday 31/05/07 10:14pm

Hi Ubull,

Have you any comments on the latest announcement? Just like some of your expert input. Is it worth buying at these prices now?
  Forum: By Share Code

kaleon
Posted on: May 26 2007, 11:19 AM


Group: Member
Posts: 61

Kahuna

I cannot find the symbol GBS that you included in your list
  Forum: Investment Discussion

kaleon
Posted on: May 9 2007, 03:20 AM


Group: Member
Posts: 61

Hi Ubull

Thanks for your input too.

I stumbled across you on HC early 2006 when I was using a short term trading system which performed terribly. One of the entries to this trading system was AGS. I was going to sell after the price kept heading down but after I read your posts decided to hold onto to them. I have always performed terribly at trading and was down heaps. AGS pulled me out of the rut. I only had a modest quantity of AGS but it has helped me and my family and I thank you very much for that smile.gif

And please keep posting as I follow your posts avidly

Kaleon
  Forum: By Share Code

kaleon
Posted on: May 4 2007, 09:39 AM


Group: Member
Posts: 61

48,200 for me ubull
  Forum: By Share Code

kaleon
Posted on: Apr 19 2007, 10:01 AM


Group: Member
Posts: 61

Ann out ???? This for a trading halt? Is there another announcement?
  Forum: By Share Code

kaleon
Posted on: Apr 12 2007, 01:06 PM


Group: Member
Posts: 61

In reply to: uraniumbull on Thursday 12/04/07 12:36pm

Uraniumbull. Thanks for that
  Forum: By Share Code

kaleon
Posted on: Apr 12 2007, 02:40 AM


Group: Member
Posts: 61

Uraniumbull,

Where do you see emerald by early next year. Would it be worthwhile holding onto options for 1 year to take advantage of CGT or take gains made in the short term on impending news?
  Forum: By Share Code

kaleon
Posted on: Apr 4 2007, 04:35 PM


Group: Member
Posts: 61

Hey Uraniumbull, You are a living legend on HC!!! And I agree with them
  Forum: By Share Code

kaleon
Posted on: Apr 3 2007, 06:14 PM


Group: Member
Posts: 61

What are peoples thoughts on good uranium stocks with WA tenements. I imagine some time down the road the ban on uranium mining there will be lifted and we could benefit from getting in cheap.
  Forum: By Share Code

kaleon
Posted on: Apr 2 2007, 10:31 AM


Group: Member
Posts: 61

In reply to: wendychen on Monday 02/04/07 10:28am

20c
  Forum: By Share Code

kaleon
Posted on: Apr 2 2007, 10:17 AM


Group: Member
Posts: 61

options are underperforming severely
  Forum: By Share Code

kaleon
Posted on: Apr 1 2007, 11:09 PM


Group: Member
Posts: 61

In reply to: uraniumbull on Sunday 01/04/07 10:58pm

Hi Ubull,

Was reading the HC posts. They were debating whether its GIR or AGS land. I am glad you clarified this smile.gif
  Forum: By Share Code

kaleon
Posted on: Mar 30 2007, 03:37 PM


Group: Member
Posts: 61

I know this is a dumb question but I have only started trading shares.

What if EMR has a T/O bid @60c. How are the options priced then for the bid?

kaleon
  Forum: By Share Code

kaleon
Posted on: Mar 29 2007, 05:36 PM


Group: Member
Posts: 61

I hope so! laughingsmiley.gif
  Forum: By Share Code

kaleon
Posted on: Mar 29 2007, 05:18 PM


Group: Member
Posts: 61

In reply to: uraniumbull on Thursday 29/03/07 05:09pm

That means an inground capitalisation of $30mil. Whats that in share terms??
  Forum: By Share Code

kaleon
Posted on: Mar 26 2007, 11:58 PM


Group: Member
Posts: 61

In reply to: tibbs on Monday 26/03/07 11:34pm

Thanks Tibbs
  Forum: By Share Code

kaleon
Posted on: Mar 26 2007, 05:14 PM


Group: Member
Posts: 61

In reply to: tibbs on Monday 26/03/07 04:38pm

Hi Tibbs

How do u mean that it was being played with?

  Forum: By Share Code

kaleon
Posted on: Feb 7 2007, 01:13 AM


Group: Member
Posts: 61

In reply to: tibbs on Tuesday 06/02/07 04:08pm

"I dont tend to tell people when I sell shares, but I will say that I sold a substantial amount of my AGS between 2.05 & 2.25 "

I have been following the AGS thread for quite a while and Tibbs has said in the past that he would be holding on to his shares for a while to come and to accummulate on weakness. In my eyes his reputation has been tainted. Not so with Uraniumbull who seems to me to be very genuine.
  Forum: By Share Code

kaleon
Posted on: Dec 20 2006, 01:05 AM


Group: Member
Posts: 61

UB,

I invested in the EMR options. If it turns out to be a Ten bagger I promise to deposit $500 into your account!!

Cheers

Norman
  Forum: By Share Code

kaleon
Posted on: Dec 20 2006, 01:04 AM


Group: Member
Posts: 61

UB,

I invested in the EMR options. If it turns out to be a Ten bagger I promise to deposit $500 into your account!!

Cheers

Norman
  Forum: By Share Code

kaleon
Posted on: Nov 28 2006, 01:45 PM


Group: Member
Posts: 61

UBull have you got any GIR? I would think they would be worth hanging onto

Cheers

Norman
  Forum: By Share Code

kaleon
Posted on: Nov 13 2006, 01:41 AM


Group: Member
Posts: 61

Hi UBULL,

Could I have your thoughts on UTO. I found this report back in July

ASX ANNOUNCEMENT
EXTENSIVE URANIUM MINERALISATION CONFIRMED AT DAWSON-HINKLER WELL
• UTO's first drilling program of 3 to 4 kilometre spaced RC traverses confirms uranium in calcrete over 20 kilometres strike
• Hinkler Well – high grades from surface:
1.0 metre @ 1021.2 ppm eU3O8
1.2metres @ 589.3 ppm eU3O8
• Dawson Well west zone – 1 kilometre wide:
5.05metres @ 302.3 ppm eU3O8
incl. 2.45metres @ 410.4 ppm eU3O8
2.0metres @ 491.7 ppm eU3O8
The Directors of U3O8 Limited are delighted to announce the results of the Company's maiden drilling program at the company's 100% owned Dawson-Hinkler Well project, located south of Wiluna in Western Australia.
A total of 150 shallow RC holes were completed in June 2006 along existing access tracks, in a program designed to locate, confirm and extend results from drilling conducted in the 1970s by WMC Exploration and Carpentaria Exploration (MIM). Four zones with intersections in excess of 500 ppm U3O8 with a combined strike length of 8 kilometres can be interpreted from WMC and MIM drilling, with widths of mineralisation up to 1 kilometre.
Dawson-Hinkler Well is located in the most prospective area in the world for calcrete-hosted uranium deposits, around 40 kilometres north of BHP-Billiton's Yeelirrie uranium deposit, the world's largest calcrete hosted deposit (50,000 tonnes of contained U3O8) and 10 kilometres west (along the same calcrete channel) from Nova Energy Limited's Lake Way-Centipede uranium deposits (Inferred Resource 15.5 million tonnes @ 580 ppm U3O8). Redport Limited's Lake Maitland deposit is located 70 kilometres south-east (Inferred Resource 32.7 million tonnes @ 330 ppm U3O8).
U3O8 Limited's initial drilling program utilised existing station tracks and old rig access roads to drill six traverses across the Dawson-Hinkler Well calcrete channel at spacings of 3-4 kilometres, with holes drilled 100 metres apart along traverses. Other 400 metre spaced holes were drilled on available tracks between traverses.
The drilling was designed to establish the boundaries of the calcrete channel and to reproduce the grades and widths of uranium mineralisation from previous drilling, which outlined potential for a substantial uranium resource. All holes were cased with PVC and surveyed with a downhole gamma logging probe to provide grade information. Selected samples were submitted for assay to confirm uranium grades, establish vanadium content and check radiometric disequilibrium. Results from assays are awaited.
U3O8 Limited Level 2, 33 Ord Street, West Perth WA 6005
Telephone: (08) 9481 2243 Facsimile: (08) 9321 0070 Email: info@u3o8.com.au
- 2 -
Results from downhole gamma logging have been received and confirm uranium mineralisation in calcrete over 20 kilometres strike. Correlation with previous drilling results is excellent, underlining potential for rapid delineation of resources utilising a combination of new results and historic data.
U3O8 Limited's westernmost traverse, through the Dawson Well zone, intersected a substantial zone of uranium mineralisation 1 kilometre wide and up to 5 metres thick. Intersections include RCDW0094; 2.0 metres@ 491.7 ppm eU3O8, and RCDW0092; 5.05 metres@ 302.3 ppm eU3O8, including 2.45 metres@ 410.4 ppm eU3O8. Drilling by WMC on 400 metre spaced sections to the east returned mineralisation of similar tenor over 2 kilometres strike. At the Hinkler Well prospect in the east of the project high grades of uranium were intersected from surface, including 1.0 metre@ 1021 ppm eU3O8.
Also considered significant are holes RCDW0139 to RDW0150, holes RCDW0084 and 0087, and RDDW0039 which returned intersections in excess of 300 ppm eU3O8 from widely spaced holes in areas away from those outlined by previous drilling. For reference, at current prices, 300 ppm U3O8 is equivalent to a gold grade of approximately 1.5 grams per tonne.
U3O8 Limited's results suggest that shallow (0 to 10 metres) uranium mineralisation may be essentially continuous over the entire 20 kilometres of strike on U3O8's ground.
Further drilling for resource definition and extension is planned for the September quarter.
P Lucas 12 July 2006
Chairman Perth, WA

Cheers

Norman
  Forum: By Share Code

kaleon
Posted on: Sep 24 2006, 08:47 PM


Group: Member
Posts: 61

Hi All,

I know that AGS is potentially worth more than $10 per share. But as uraniumbull said it might go for $1.50-$3.00 per share if there is a takeover bid. Wouldn't shareholders object to such a takeover bid when they realise how much AGS is worth? I would feel very disappointed if I had to give up my shares for only $1.50-$3.00

Norman
  Forum: By Share Code


Cant find what you are looking for? Show all active topics from the last 3 months


New Posts  New Replies
No New Posts  No New Replies
Hot topic  Hot Topic (New)
No new  Hot Topic (No New)



TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING