Discussion in 'Stocks & Derivatives' started by Bullion Stacker, Feb 1, 2015.
Most likely partially filled order
A partially filled order part way through the order depth list? A bot eating fractions of a cent in a trade worth less than $10 on a share that's already traded at the lowest dollar resolution that the asx offers? Not saying anyone's wrong but I don't quite get it.
Typo seems reasonable though.
Peninsular energy to list on the NYSE! This is exciting stuff. The announcement was only made a couple hours ago so I would expect the price to significantly rise over the next couple days as this sinks in. Obviously also expect price rises when the actual listing happens and NYSE traders get in on it.
Up another 10% today on big volume (for pen), intraday up 20%, I think this nyse-mkt listing announcement is a big shot in the arm. When it actually lists and people in the states start buying it I think it will be a big move. Them when lance comes on stream, look out.
*edit* make that closed up 15% with intra day up 25%. Nearly 1% of market cap traded over 120 trades. Double the number of standing buy orders than sales including about 5 million at our above 2c. Life is good.
Another little update, up to 2.8c on pretty strong volume, it's been seeing about 10-20 times the volume we were seeing last month pretty much every day for the last 10 odd days since the breakout. Deep disposal well, potentially the trickiest bit of the lance project, completed under budget, early and according to PEN with better disposal capacity than specced.
Just beating myself up for not buying more at 1.6c to bring my average cost down.
You still can,just buy at these levels
Im even at 3.3, although still down on the options
My Balance was up $4200 on the heads and slightly on the options. I did buy some PENOD's at .008 to fill a void in my account. I only need another 16 million shares and i will be in the top 20 holders.
I think that if we can get 3.2 or 3.3 on a good day and today was not that good a day on the ASX there might be some good profits to be had on the Penocs
I had the cash in my hand to buy in and I missed my chance...
Hopefully it's not too late to buy in.
They're dead in my portfolio, hoping to atleast retain some money back before they expire.
PEN looking good, do you see any chance of a dip back to 2.3-2.4 range?
I doubt it Bullion Stacker The upcoming listing in the States if it happens should kick things along nicely. Just remember we are sitting at a 25 percent discount to the USD so there will always be a play there with currency fluctuations, and its getting closer to production everyday along with contracts in place to sell the product once out of the ground.
I have been holding for about 6 years and was smiling all the way to the bank when they hit just shy of 16 cents each pre Fukushima. Its been along road back but i have confidence in it eventually happening.
There is a big bonus for the bosses if they can get the price to 8 cents by October this year from memory. Will wait and see but its a cheap IMO
I got most of mine at 1.6-1.8 cents so I'm already happy, but I really belive in the company. The depressed uranium price has stifled production and there's 70odd new reactors under construction, Japanese reactors coming online, a couple hundred in Asia being planned with China and India looking at more as an answer to their power problems, that's great for u208 prices over the next 5-10 years.
I think you'll see a big bump with the NYSE-MKT listing, a bigger bump when production starts (hopefully this year) and also any uranium price rise will be reflected in the share price. The huge pool of investors the new listing will bring will be a multiplier for any future good news too.
Obviously if there's another fukashima it might have a negative impact but that aside I don't think you'll see sub 2c prices again now that all the legal issues are sorted and the big construction milestones for the production facility at lance are being ticked off. Honestly if I can get more at 2.5c I would but I think I might have missed that boat.
The thing I like most about them though is the longevity and scale of their projects. Lance on it's own would be a decent basis for a company with stable cheap production for decades, but the south African claim seems bigger again though more drilling has to be done.
I can see how it might be disheartening for people who got in 5 years ago at 5c or higher but for me getting in this year under 2c I'm very happy. I still think anyone who bought under 10c has a good chance of making some money in the next 12 months. Some of the broker analysis has prove targets as high as 16c once they start production and that was before the NYSE-MKT listing which usually doubles (or more ) the cap of a company in a similar situation so it's possible you'll see prices higher than that.
Most of my money is in PM's so this is my 15% hedge against the world economy NOT going off the cliff, although Chinese and Indian energy demands might still lead to a uranium shortfall even if the conditions to push silver to $50 are met. Although saying this now I realise that silver would have to hit crazy historic highs to match the return I would get if PEN managed to get to half of the higher end of the analysts 12 month estimates...maybe I should cash in some more PM for PEN...
They are planning to pay dividends once production starts, I wouldn't be surprised if I ended getting all my capital back in dividends in a couple years.
I think we have a LONG way to go before we see anything past 4c.
IMO 8c by October is absurd
To be at 8c, i'd say we'd need the uranium price to recover as well as being well past stage 1 of production
Where abouts did you get that info from?
What about a takeover? ever considered that
I saw an interview with Gus Simpson where he said that dividends would be forthcoming once production starts. It was a couple of years now, but the principle holds true. He seemed pretty certain that it would happen as long as they don't have any big costs or debts hanging over them. I'll see if I can track it down.
As for a higher than 4c price I dont see any reason it couldn't get back to it's post fukashima high, definitely a lot more going for it now than then.
The broker research is interesting and worth a read, the one from 2014 are still basically valid as well:
If it gets to 4c+ on it's own I can't imagine it not getting at least close to 8c with the actual nyse listing and more of the construction getting ticked off. Another $5/lb in the u208 price would be a bonus.
From what I understand, the market for uranium oxide (U3O8) doesn't operate like commodity metal markets such as copper, iron ore or silver. There is a spot price but its relatively meaningless since most producers/processors deal only in long-term supply contracts.
Picked up some Paladin Energy (ASXDN) for my portfolio right after Fukushima Daich woes kicked-off; nuclear power plant popping their tops live on television wasn't as bearish for uranium producer stocks as I expected.
Back then they only had two operating mines in Nambia/Namibia, used to read about production stoppages due to 'diesel supply stoppage'.
Eventually walked away at $3.73/share for a small in-and-out profit.
That's true and pen has contracts for a pile of ore at nearly double the current spot but the spot will often determine the hornet negotiated contract price with a utility. Also, because of the coming (small but significant) shortfall of supply apparently more of them will be forced to buy in the open market which will push up the spot. Paladin is an interesting company if the number of reactors really increases.
A Kilo of silver will buy me another 25000 pen shares
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