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JBmurc
01-02-2007, 10:37 PM
Worth a look while its still cheap 7.6c MKTcap-40mill+options
-$4.5mill in the Bank-
514,867,237 shares on issue.

-2,500,000 $0.20 unlisted options expiring 6 Jan 2008

-7,500,000 $0.20 unlisted options expiring 23 Feb 2009

-What could Make PEN another AGS,DYL,ERA etc;)
-6 Uranium/Moly prospecting sites in South Afica 74% PEN
-Tanzanian gold Targets,Fiji gold targets
-joint gold,Ur ventures with- Toro,Minotaur,Luzenac


Check it out-

http://www.peninsulaminerals.com.au/


----Interview the other night off SKY Business-----------------------

DAVID SPEERS: The spot price for uranium has doubled over the past
year, sending the share prices of the 50-plus Australian uranium explorers soaring along with it.

But for those of us that haven't bought into the sector, is there still value or have we missed the boat?

Richard Goncalves spoke with the experts, and discovered some prospective buys in this special Sky News Sunday Business report.

RICHARD GONCALVES, SKY REPORTER: It's a sector that may provide some exciting prospects - for investors - and the nation.

MICHAEL ANGWIN, AUSTRALIAN URANIUM ASSOCIATION EXECUTIVE DIRECTOR: "We're on the verge of a major economic opportunity."

GONCALVES: Already, 16 per cent of the world's electricity is generated from nuclear power and that's expected to grow dramatically.

ANGWIN: "In the next 25 years, demand for electricity consumption around the world, for power generally and for uranium will increase by 50 per cent."

GONCALVES: Australia is in prime position to take advantage of the world's insatiable appetite, with 85 known deposits and almost half of the world's known uranium reserves.

ANGWIN: "We currently export around 12 500 tonnes of uranium a year, and the prospect is of doubling that in the next 7 to 8 years."

GONCALVES: That's still below the 80 000 tonnes of uranium in demand per year globally and is expected to grow by 120 000 tonnes per year by 2020.

But despite the demand there are some stumbling blocks.

Government legislation restricts new mines from extracting uranium apart from the three existing players: BHP Billiton's Olympic Dam, potentially the largest uranium producer in the world; Rio Tinto's ERA Ranger Mine in the Northern Territory; and General Atomics' Beverly mine in South Australia. Uranium One's Honeymoon project is set to come on stream. It was awarded a license by the South Australian government's environmental agency to commercially mine the deposit.

Despite the ongoing debate on uranium enrichment, its cost effectiveness, cleanliness and waste storage, the federal government's Nuclear Taskforce Review found no sound reasons to prevent uranium mining in Australia.

In fact, Prime Minister John Howard has gone as far as to call the labor state governments, namely Queensland and Western Australia, to end bans on uranium mining as a result.

PETER RUDD, CARROLL PIKE PIERCY ANALYST: "And while that's in place, anybody that does find something won't be able to bring it into production and hence won't be able to make money from it."

GONCALVES: The ALP will review their policy - in a conference in April.

In the meantime, the uranium spot price continues to soar - doubling from $US36 a year ago and is expected to stay on its upward trajectory.

HENRY EDGAR, WILSON HTM ANALYST: "We view this as a re-emerging industry, and not a bubble that's waiting to pop."

PETER ARDEN, INTERSUISSE ANALYST: "We had low interest rates worldwide, we had uranium spot price bottoming out and starting to rise for the first time in 7 years, so that was important, and then the realisation that uranium offered a solution for global warming, it's only really just started to lift."

GONCALVES: Analysts' estimates range from a 10 per cent, to 100 per cent lift in spot prices this year.

EDGAR: "We do not think the market will peak until 2010. At that point we would expect some of the production that we've seen talked about by the current day explorers to come online and start to satisfy. But that doesn't

JBmurc
02-04-2007, 08:19 PM
Well Glad I brought more PEN at 7.8c;) up 18% today -Something up here big buys going through late good volume
can't wait for tomorrow;)


Uranium Mar 26, 2007
Ux U308 price: 95.00
Change from
previous week +4.00


JBmurc-holds 200,000 PEN

cjh
02-04-2007, 10:20 PM
Picked up a few a week ago to toss in the bottom draw.
Unsure what prompted todays late run -time will tell.
c.

JBmurc
10-04-2007, 05:29 PM
:D-New all time high & close reached today for PEN 11.5c up 26%

-hope ya filled that bottom draw up with PEN cjh

Certainly a stock to hold over the longer term with many Uranium prospecs in a wide geographic spread.

-Near close one major buyer brought $600,000 worth at 11c,very confident buying [?]


Uranium Spot Price Surges Past US$100-Level
Monday April 9, 12:35 pm ET


VANCOUVER, BC--(MARKET WIRE)--Apr 9, 2007 -- U3O8.biz -- The uranium spot price surged to a new record of US$113 per pound as buyers aggressively bid for a lot of uranium at a recent bell-weather auction in Corpus Christi, Texas.

-JBMurc holds-200,000 PEN

JBmurc
11-04-2007, 10:51 AM
-Checkout the bullish depth on PEN
-some of the big bids-
3,000,000
2,000,000
850,000
-biggest asks-
600,000

-Not going take much to get this 60mktcap Ur&gold to breakout even more its only just started again.

shasta
11-04-2007, 11:08 AM
72 m volume yesterday, somethings up?

Am tempted to jump in, will see how the early trading goes!

Thanks for bringing this to our attention JBM

Edited: Have jumped onboard, having locked in some DYL profits.

shasta
16-04-2007, 01:02 PM
JBMurc

What's happened to PEN, it charged up early last week & now is struggling to reach 10c let alone hold it?

They have the 1:10 issue (@6c) + 1:10 oppies in play, so what's holding it back, chartwise is it just consolidating at this level?

I would have thought the 1:10 @ 6c + 2010 10c options would have sparked up the buy depth & SP!

JBmurc
16-04-2007, 04:01 PM
yeah very strange PEN will have over 9mill cash in total after raising to invest into its Uranium asset hopefully bring into some great results sooner rather than later,With total amount of shares&opts going over 1 billion some holders may not feel as confident with some 300% growth already made in PEN shares from 8months+ ago
-profit takers will be locking in profits waiting for the sp to pull back closer to 6c spp,(or even selling some just to pay for the spp)certainly looks like it in the depth with massive selling pressure above 10c after the spp annoucment,my pick is without futher news or increase in Ur price PEN will fall back sub 8c

-alot will also rest on PacMag shareholders approval of the sale of there Ur assets to PEN ,should know late May

JBmurc
11-05-2007, 04:11 PM
-Current SP is down at 8.6c on low volume great buying or topup for the longer term shouldn't be long now till PacMag shareholders approval the sale to PEN of there assets.


-Got off HC -Shows how much this deals going mean to PEN

"One thing can be predicted: this portfolio will add considerable credibility (and, no doubt, market value) to the company that clinches the deal."
Robin Bromby
February 10, 2007

WYOMING is the number one US state for uranium. It's where most of the country's yellowcake is produced. The world players - Cameco, Rio Tinto and Cogema - all mine there.

And the hottest place of all is the Powder River Basin. This week PacMag Metals secured 607ha of state mineral leases in that basin along with other Wyoming uranium targets.

It has been a sweat for PacMag. Getting mining land in Wyoming is a nightmare. There are no government files outlining previous work, there are no tenement maps, while mineral rights are held by both the state and private interests.

The Perth-based company also has uranium prospects in Western Australia and in South Australia, in the latter case land adjoining PepinNini Minerals (which on Wednesday cemented its uranium partnership with China's Sinosteel).

PacMag, however, does not want to keep its uranium properties. It's focused on the large Ann Mason copper-molybdenum project in Nevada, where drilling began two weeks ago, and is looking to reward its shareholders by selling off the uranium. The company had considered a uranium IPO, but fortunately spared us yet another one of those.

It is now talking to several listed locals - the plan is to get a substantial number of the buyer's shares, which would then be distributed to PacMag shareholders.

As there are 80 or so listed companies with uranium in their portfolios, the choice seems wide open. But, alas, not even a hint can be prised from PacMag. One thing can be predicted: this portfolio will add considerable credibility (and, no doubt, market value) to the company that clinches the deal.;)

shasta
11-05-2007, 04:51 PM
JBM

They need something to put a rocket under the falling shareprice.

Im taking a bath on PEN at the moment!

Disc: Holding...just

JBmurc
11-05-2007, 07:37 PM
I believe confimation of PacMag's assets will be the fueling of the rocket- Shasta

brought more today at-8.6

JBmurc
14-05-2007, 12:00 PM
:D-9.4c 8% nice bounce,maybe some good news to be announced soon

shasta
15-05-2007, 05:15 PM
JBM

Whats up with PEN at the moment.

Opens at 9c, traders take it up to 9.2c early on, only for it to drop to 8.7c & recover.

Always seems to close weak as we are struggling to get back to 9c.[V]

The PacMag deal should just about see the SP double, & i would have thought the upcoming rights issue with free options would have had buyers jumping in not bailing out?

Still seems cheap to me though, 10.5c seems a long way away & until the "U" deal is done PEN seems range bound 8.7 - 9.4c[?]

JBmurc
15-05-2007, 07:37 PM
-Yeah strange but thats spec shares if the PaMag deal fails PEN will drop -7c if the deal goes through PEN will start a bull trend of massive Growth 15c+ longer term sky's the limit.

-Noway I'd be selling ATM -shasta-

shasta
17-05-2007, 05:24 PM
JBM

Same old pattern again today, opens at 8.7c, hits 9.0c & falls to 8.5c.

I hope it remains range bound while we await the confirmation of the PacMag deal.

Looks like day traders are supporting the SP at present, as without a positive ann soon, we could retest the support level of 7.4c.

I'll be lining up to buy those 1:10's @ 6c though & the oppies look enticing (2010 - 10c).

Won't be selling either...

Edited: For the change in closing price!

JBmurc
22-05-2007, 11:18 AM
-Results of meeting out The Board voted to acquire PacMag and endorse the shareholder SPP with bonus.
-entitlement SSP to be lodged to the ASX in early JUNE

-Time to buy more PEN will be rerated soon as a serious U308 company just checkout the EGM
bonus opts will be great

shasta
22-05-2007, 05:31 PM
We get the announcement we knew was coming & the market largely ignores it?

It's a steal sub 10c, question is how long will it last???

shasta
28-05-2007, 08:52 PM
JBM

I see PMH is in a Trading Halt & made an after hours Ann that all 3 resolutions had been passed at the General Meeting.

This won't lift the TH, but the in specie distribution they are making must be the PEN shares being allocated to PMH shareholders!

This is all done & dusted now, & the SP languishes at 8.3c still.

Any drilling results expected soon, as the chart is looking decidedly sick at present.

shasta
05-06-2007, 11:16 PM
An after market announcement today, regarding the non renouncable rights issue.

1:10 shares @ 6c (current SP 8.4c), along with a free option (10c expires 2010), but with a tight deadline being tomorrow!

Should finally see some buy depth & pressure for those wanting to get in on the cheap rights.

As the options will be listed, i'm expecting alot of trading action in these, & some downward pressure on the heads in the short term.

Still needs a 5:1, or better still 10:1 consolidation before the end of the year, we are approaching 1 billion shares!

JBmurc
06-06-2007, 04:53 PM
quote:Originally posted by shasta

An after market announcement today, regarding the non renouncable rights issue.

1:10 shares @ 6c (current SP 8.4c), along with a free option (10c expires 2010), but with a tight deadline being tomorrow!

Should finally see some buy depth & pressure for those wanting to get in on the cheap rights.

As the options will be listed, i'm expecting alot of trading action in these, & some downward pressure on the heads in the short term.

Still needs a 5:1, or better still 10:1 consolidation before the end of the year, we are approaching 1 billion shares!



-Nothing much happening in PEN today Shasta:(up 3c atm hopefully my funds clear before the end of tommorrows trading;)like to get some more free opts( if not I'll be buying some of the opts on the market)Yeah they do need to consolidate there shares outstanding a 5:1 would be good

shasta
06-06-2007, 07:30 PM
JBM

Correct me if i'm wrong but isn't today the last day for the rights issue?

Up 1c to 8.5c at close, i expected alot better.

The options do look good though & i may sell down some heads (after receiving the extra shares) & buy some options.

JBmurc
06-06-2007, 07:50 PM
-From what I just read I understand that it's all reg holders by 5.00pm 14th of june;)

got from-section 1:1--- PEN entitlement prospectus

-Hope I'm right like to be holding 200,000ords by then

shasta
06-06-2007, 08:04 PM
Ok that would explain the inactivity today then!

Must be due some news re there gold permits soon too.

shasta
07-06-2007, 10:02 PM
quote:Originally posted by JBmurc

-From what I just read I understand that it's all reg holders by 5.00pm 14th of june;)

got from-section 1:1--- PEN entitlement prospectus

-Hope I'm right like to be holding 200,000ords by then


JBM

PEN is showing on the ASX as being ex entitlement, did you buy any today?

If it's correct then any trading between now & the 14th June, will not be entitled to the rights issue/free options.[:0]

I'm confused, though haven't bought or sold any for a while, so it doesn't matter to me.:D

JBmurc
08-06-2007, 09:37 AM
Na didn't buy anymore funds should be cleared today[V]very confusing rang PEN yesterday still waiting for a replay looks like I'm wrong with them going Ex-

Be in perth sat 4 a week might go round have a talk

JBmurc
08-06-2007, 12:58 PM
-Just off the phone with Mr Jonathan Whyte (Company Secretary)sounds like I was wrong [V]yesterday was the last day
sounds like good guy asked him if a 5:1 share consolidation could be looked at said he'll raise it at the next meeting.
Sounds like its going be full steam ahead over the next 12months will be dropping in to ask some more questions next week;)

cjh
08-06-2007, 02:32 PM
quote:Originally posted by JBmurc
[Sounds like its going be full steam ahead over the next 12months will be dropping in to ask some more questions next week;)




Good lad, keep us informed please.

shasta
11-06-2007, 10:46 PM
JBM

You might get your chance to top up tomorrow, could be some weakness in the share price as traders sell off some shares, now they have the 6c shares (+ options) secured.

Won't be buying/selling any myself.

shasta
19-06-2007, 05:04 PM
Promising Gold Assay results at Raki Raki (Fiji), PEN holds 50% of this JV - ann out today.

Late July 07 will see more mapping & prospective drill testing, as the stream sediment samples have shown some very high gold values.

Values of up to 400ppb AU were recorded, so there is alot of upside potential in this project.

shasta
21-06-2007, 03:10 PM
PEN starting to show some signs of life again, opens at 8.5c hits 9c & then drops to 8.4c, the normal pattern for PEN, damn the traders, what it closes on will be interesting.

Hopefully the sell off has now finished...[V]

JBM - Any further updates you care to share with us? :D

JBmurc
21-06-2007, 06:59 PM
-stopped in last week when i was in perth an seen-Jonathan Whyte
-good to see PEN keep there overheads down with a small office area in a converted single level house on Ord st.;)
-Talked for about 20mins was greatly reassured by jonathan that PEN have a very exciting next 12months with all there current and new areas to explore into futher(no answers to my Q's of where there focus was Gold & Ur etc) ,and that the directors would be meeting soon to plan futher(he said he would raise my concern of the massive numbers of shares at the next board meeting, 5:1 cons soon maybe)

-He like myself was total miff about the current SP
-He talked up - Douglas Goodall-project manager-Africa as a genius in the U308 feild
-overall sounded very promising-

will be buying a good opts holding once on the ASX;)

shasta
21-06-2007, 07:05 PM
Thanks JBM

A 5:1 consolidation would assist the company no end.

I'm holding onto a small loss at the moment, & would prefer to hold PEN options as opposed to heads, so may be interested too when they list.

Do they indeed doing any roadshows/broker presentations in the near future?

JBmurc
22-06-2007, 10:31 AM
-yeah i asked the Q of PEN getting more market interest with a presentation etc-he said there planning to release futher forward planning once the issue was done and that there was an upcoming meeting of all the directors & managers which some were overseas at the time (hopefully signing up some drilling crews for futher testing);)


-Personal I'd like to see PEN sell off or farm down there gold interests to focus on there Uranium targets in SA,S africa,US
the market would certainly like the focus IMHO

shasta
25-06-2007, 12:21 PM
JBM

Have exited PEN, as the worse performing stock i hold...

Funds needed elsewhere & i'll be back (especially the options) when the story is a little clearer.

JBmurc
25-06-2007, 01:58 PM
;)With U3o8 at $136 PEN will get massively rerated Once the market unstands more of there Ur assets PEN Holds
Can't wait for Opts

shasta
25-06-2007, 02:04 PM
JBM

It will when it has a JORC resource with good grades of U308.

Too many junior explorers out there with too smaller resources (Non JORC) & with low grades & very deep deposits.

PEN, however has PMH's US Uranium assets & these when JORC will definitely re-rate the company.

Once they've had the 5:1 consolidation & the options are listed, i'll be back.

JBmurc
28-06-2007, 10:26 PM
---checkout-www.uraniumanalyst.com/images/UraniumReview24March07.pdf

sent my spp check away today-6c shares+free opts soon

;)

PEN-the next SMM

shasta
28-06-2007, 10:31 PM
JBM

I'm not sure about PEN being the next SMM.[:0]

I hold enough U stocks with DYL, URA & GDM (thru there 33m holding in UNX)

DYL will be the PDN, though i suspect by the time they are 1/4 the size, PDN will snap them up!:D

PEN options look tastey though...;)

JBmurc
11-07-2007, 08:19 AM
PEN's-Non-Renounceable Entitlement Issue - Undersubscriptions
Euroz Securities will have to pick up 29.5 million shortfall
[:0]
Decided to sell out at 8.4c was also worryed about the short term
now only holding the small entitlement issue of PEN 6c free PENO plan to buy up PENO in the short term weakness ;)Longer term I'm still bullish on PEN

JBmurc
11-07-2007, 11:50 AM
PENO(PEN opts)Now open on the asx have to pay up to 5c to 5.5c heads 6.9c

JBmurc
27-07-2007, 05:15 PM
Large volume last couple days ;) could we finally have some positive news on its way in the Qtr report

JBmurc
09-08-2007, 12:44 PM
-PENO look great buying for a spec buy being long dated- june30 2010 ex.date at 10c
I believe you'll find it won't stay at 3c for long ,with PEN being strongly sold off more than alot of the market because of its spec nature.

-If you hav'in already checkout -Warwick Grigor's(PEN director) Ur analyst report-www.uraniumanalyst.com/images/UraniumReview24March07.pdf

-And the last Qtr report-It's only a matter of time IMHO that PEN will have a 5,000t+ U308 resorce base ,then you have alot more world class tenaments with some good gold &gv prospects

JBmurc
02-11-2007, 08:47 AM
Well not been a great last couple months for PEN holders(is there any ST holding ??) till yesterday up 22%
talked again with- Jonathan Whyte-sounds like its all guns blazing with more staff coming on board to get things moving.......... 8.5mill in the bank
currently PEN are busy with-

Lupa Gold-Tanzania-drilling program results soon(Pen upto 75%)
Raki Raki Gold-fiji-drilling
SthAfrica- Uranium/Molyb-Feild work underway
Sth AUS - Uranium-JVP's will commence drilling on targets soon
Wyoming-Uranium-World class- working towards more drilling to get resorces defined for- JORC compliance

Might be time to get some of these cheap PENO 2.5c -Shasta 2010 exp-10c PENO longer term BUY IMHO

tobo
04-11-2007, 08:12 PM
... all guns blazing with more staff coming on board to get things moving..........
Might be time to get some of these cheap ...

Yep, agree, Topped up in last couple of weeks.
Tobo

JBmurc
03-12-2007, 04:45 PM
who else is waiting for an news Annoucnement PEN must have something very soon I notice the head Shares getting some notice today pushing of recent lows up 4.4%


JBmurc-864,000peno

JBmurc
31-12-2007, 03:09 PM
Geo have found some low grades at very shallow depth so far looking postive
PEN's a jvp 50% interest in the GOLD permit



http://www.abc.net.au/ra/pacbeat/stories/m1511334.asx

JBmurc
22-05-2008, 10:21 AM
-well has been awhile and the market hasn't been kind to U specs like PEN & peno
still I believe things over the next couple yrs will make up for the wait.
Uranium will have it's day in the sun again with other energy sources only getting more costly PEN has .....Quality management....Quality exploration tenements....Cash backing.....shareholder wealth will come for the patiant

-lastest news--- http://www.asx.com.au/asxpdf/20080522/pdf/3197tff5x7p8y4.pdf

-http://www.moneyandmarkets.com/Issues.aspx?The-Alternative-Energy-Bargain-1802

-holding-905,000 peno (bring on the JORC and 20c + sp)

moimoi
22-05-2008, 08:55 PM
Hi JB,

could you expand on the "quality management" aspect of your post.?

cheers
Moi

JBmurc
22-05-2008, 10:11 PM
The guy you writes this report is a non-exe director of PEN ,from what I,ve heard from PEN sec.HGD ex MD he's a genius in the Uranium feild
-I have alot of respect from managerment that keep overheads and fees down,your see from recent Ann reports PEN's directors costs are low(but should increase alot as PEN come into production)
-Even though PEN have world class U assets managerment don't talk up unrealistic goals slow an steady PEN will get market
attention

-also guys like...
PEN's Chief Operating Officer Andrew Ford
�� Highly experienced exploration geologist and project manager (ex Barrick Gold)

http://www.blackrangeminerals.com/pdfs/AnalystReportFarEastCapitalWarwickGrigor21Apr08.pd f

tobo
23-05-2008, 12:35 PM
The guy you writes this report

Warwick Grigor.
Yep, he has fingers in many Uranium pies.
Shares in Monitor En, Acclaim Expl, Atom En, Alliance Res, Contact U, Monaro (big holding & is MD), and of course PEN (& is NE dir), oh, and is dir of Heritage which is just adding a U interest to it's business.
I think he has other directorships that I have omitted.

I reckon his opinion is worth listening too as he has ear to the ground and not just confined to knowing what's going on within just one company.

discl: Hold PEN (and MRO, HGD) among others

JBmurc
11-06-2008, 11:02 AM
PENINSULA COMMENCES ENVIRONMENTAL BASELINE STUDIES
AT THE LANCE PROJECT, WYOMING USA
Highlights
• Senior Environmental Consultant appointed to lead the baseline monitoring
and permitting process in preparation for the development of the Lance ISR
Project; and
• Independent engineering expert appointed to review the hydrologic,
process and production data generated by the historic ISR Pilot Plant
operation
Summary
The Directors of Peninsula Minerals Limited (“Peninsula”) are pleased to announce two
key Environmental and Engineering appointments as the Company progresses
towards the development and re-commencement of uranium production at the
Lance ISR Project in Wyoming, USA (“Lance Project”).
Environmental Appointment
Peninsula has appointed Senior Environmental Consultant Pat Gochnour to lead the
environmental baseline monitoring and the permitting process required for permitting
of new ISR operations in Wyoming. Mr. Gochnour has provided environmental service
to the mining industry since 1981. Prior to forming his own company in 1994, he was
Vice President of Environmental Services for Pincock, Allen & Holt, a division of Hart
Crowser, Inc. He has also served as Corporate Environmental Manager for St. Joe
Minerals, Bond International Gold, LAC Minerals & MinVen Gold Corporation. His areas
of expertise include environmental audits, permitting programs, Plan of Operations
and EA/EIS development, alternative siting studies, reclamation planning,
environmental contingency planning, remediation and environmental litigation
support.

Past clients have included Phelps Dodge, BHP Billiton, Barrick Gold and LAC Minerals.
In addition to these site-specific capabilities and experience, Mr. Gochnour also
provides environmental and permitting feasibility support for project financing to a
wide range of United States and international clients.
Engineering Appointment
Peninsula has commissioned Doug Christopherson, Senior Engineer with independent
consultants World Industrial Minerals, to conduct a thorough review of all of the
historic hydrologic, process and production data generated in the historic ISR Pilot
Plant which was located on recently acquired mineral tenements at the Lance
Project.
With more than 32 years experience as a mining engineer, Mr. Christopherson has
held a number of senior engineering positions in the United States and Asia. In
addition to his engineering experience, Mr. Christopherson has completed a number
of plant/mine permitting, feasibility studies and ore reserve estimates and
environmental assessments.
Mr. Christopherson will review the significant amount of historic data related to the ISR
Pilot Plant that previously operated at the Lance Project. The trial mine and ISR Pilot
Plant were designed to produce 40,000 lb of U3O8 per year and ran successfully for
ten months prior to being closed due to the Three Mile Island Incident in March 1979.
The site was fully rehabilitated with all bonds returned from the Department of
Environmental Quality and the Nuclear Regulatory Commission by 1984.
The information related to the operation includes historic assay results, metallurgical
tests, environmental baseline studies and proven aquifer restoration and should prove
invaluable to Peninsula in reducing the time required for state and federal permitting
for a planned new ISR mining operation.
The appointment of these key engineering and environmental personnel is an
important step in Peninsula’s stated aim of progressing the Lance Project to a
production decision as soon as is practicable.
Yours Sincerely
John (Gus) Simpson
Chairman
For further information, please contact our office on (08)9420 9333 during normal business

JBmurc
07-07-2008, 09:33 AM
I really think it's not if but when PEN trades 10x higher than current SP for mr hopefully before march 2010

worth alook major US holder
checkout the managerment of PEN worldclass


http://www.peninsulaminerals.com.au/news_articles.html

JBmurc
13-07-2008, 12:40 PM
http://www.peninsulaminerals.com.au/index.php?PHPSESSID=477679c7ba6af3e69626abd0d8e335 83

drillfix
13-07-2008, 04:23 PM
I really think it's not if but when PEN trades 10x higher than current SP for mr hopefully before march 2010

worth alook major US holder
checkout the managerment of PEN worldclass


JBmurc,

Good luck with the world class management.

JBmurc
13-07-2008, 07:00 PM
JBmurc,

Good luck with the world class management.

Ok not worldclass in the general sense more so in small-cap emerging miner sense

-with a world wide shortage of experienced Geo's PEN certainly has alot skills on board with these guys I bet many other aussie U308 companies would give there left one to gain even half of PEN's geo's

Warwick Grigor -is a highly respected and experienced mining analyst (once talked with peter from HGD where WG is also non-exe remember him saying WG was a genius in the U308 feild)

Andrew Ford -A geology Honours graduate ,for the last 10 years has lead exploration teams throughout Australia with Barrick Gold prior to bringing his strong management and operations skills to Peninsula Minerals in November 2007.

Jim Guilinger-A geologist with more than 31 years in the minerals industry,Mr Guilinger was Director of Exploration and Development in Mexico for Eldorado, and the mineral arm of Texaco

Bob Guilinger (Chief Geologist - Wyoming USA)
Mr Bob Guilinger has more than 45 years experience in the minerals industry and has completed numerous minerals development projects and resource estimation reports in the U.S. and overseas. He is a senior Fellow of the Society of Economic Geologists. Formerly with Union Carbide and the U.S. Atomic Energy Commission, he has been a private consultant for the past 22 years and is an expert on uranium exploration and resource estimation.

Mr Douglas Goodall (Operations Manager - Karoo, South Africa)
Mr Goodall is a geologist and mining analyst bringing to the Company over 33 years of experience

Peter Danchin (Project Manager - Karoo, South Africa)
Mr Danchin is a geologist with over 35 years of mineral exploration and is a highly experienced uranium exploration manager. For 10 years Mr Danchin was responsible for all aspects of Union Carbide's uranium Exploration programs in South Africa


Alan Marlow (Technical Director)
Dr Marlow is a geologist with over 30 years experience in the minerals exploration industry

PEN-the U sleeper

SCHUMACHER
13-08-2008, 07:47 AM
JB MURC


I spoke with the company a few days ago to ask about drilling contracts for Sept (next month) for LANCE, WYOMING and i have been advised that they are currently in the process of sorting out the drill contracts, therefore we will be on track for next month to commence drilling at LANCE.....recently PEN also announced an increased resource target ......cant wait

Cheers Schu

SCHUMACHER
13-08-2008, 07:57 AM
World Intustrial Minerals after re-interpretation have revised their exploration targets at LANCE to 50-76 million short tonnes u308 for between 50-76 million pounds u308


Here is the announcement

REVISED EXPLORATION TARGET SIZES AT LANCE: 50–76 MILLION TONNES eU308
Highlights
• World Industrial Minerals have, after re-interpretation, estimated that the
global exploration target size for the Lance projects is 39-60 million short
tons at 0.05-0.07% eU3O8 for between 50-76 million pounds of U3O81,
including:
o Estimated exploration target size at the Ross Project of 6.35-9.52
million short tons at 0.05%–0.07% eU3O8 for 8-12 million pounds of
U3O81
o Estimated exploration target size at the Barber Project alone of 2.60-
3.90 million short tons at 0.07%–0.09% eU3O8 for 4-6 million pounds of
U3O81
o Estimated exploration target size within and between the other 11
projects of 30.2-46.8 million short tons at 0.05–0.07% eU3O8 for 38-58
million lb U3O81
• Drilling is planned to start in September 2008 to commence the conversion
of historic mineralisation to JORC compliant resource status.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
Summary
Peninsula Minerals Limited (“Peninsula”) is pleased to announce that independent
consultants Word Industrial Minerals (“WIM”) have recently completed a thorough reinterpretation
of the historic resources at the Lance Project in Wyoming, USA (“Lance
Project”). This process involved correlation of mineralised sands and construction of
mineralisation outlines over the thirteen project areas defined by historic drilling. The
mineralised outlines were constructed using realistic cut-off levels for grades and
thickness so that an objective estimation of the exploration target size for each
Project could be determined. This assessment has allowed prioritisation of Projects in
terms of a development schedule for the planned commencement of ISR mining. The
Ross Project, due to its high density of existing drilling and previous hosting of the ISR
Pilot Plant (now since fully rehabilitated) in the late 1970’s, has been identified as the
primary production centre. The Barber Project has been identified as the second
production centre. Please refer to Figure 1.
Revised Exploration target Sizes
Following a thorough review of the historic drill data comprising over 4,500 drill holes,
WIM identified a total of 22 mineralised sands with more than 204 km (127 miles) of roll
fronts. Each Project area contains from one to eight vertically stacked mineralised roll
fronts giving multiples of resource potential over the 37 km strike length of the Lance
Project area. Please refer to Figures 2 and 3 for maximum and average historic drilling
results for each project.
Mineralisation outlines were drawn around historic mineralised areas as defined by
drilling, based on a cut off grade of 0.02% eU3O8 and a grade thickness value of 0.3
%ft (a realistic threshold for Wyoming ISR projects). The exploration target size was
then calculated using estimates of the historic mineralised zones which were then
extrapolated into undrilled areas. A specific gravity conversion factor of 15.5 cu. ft.
per short ton has been used to calculate the tons tabulated in this report. Historic JV
operator Nuclear Dynamics had calculated this tonnage factor from large diameter
core they collected from drill holes on the Lance Project mineralisation during their
work in the 1970’s.
Based on the re-interpretation process above, the Ross Project, identified as the first
production centre, has a revised Exploration target size of 6.35-9.52 million short tons
at 0.05-0.07% eU3O8 for 8-12 million pounds of U3O81.
The Barber Project, located 18km (18.2 miles) south of Ross and seen as a second
production centre, has a revised exploration target Size of between 2.60-3.90 million
short tons at 0.07–0.09% eU3O8 for 4-6 million pounds of U3O81.
The revised exploration target size within and between the remaining 11 Projects is
30.2-46.8 million short tons at 0.05–0.07% eU3O8 for 38–58 million lb U3O81. This
significant potential is largely a result of the vertical stacking of the roll fronts which
multiplies the chances of mineralisation per km of strike length. In addition drill density
surrounding the Projects is very low and those holes drilled were often at insufficient
depth to test the deeper roll front positions. Follow-up drilling on many of the widely
spaced holes that did intersect mineralisation was minimal, all of these factors
indicating significant upside potential in these areas through further work.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
The drilling set to commence in September will be the first phase of an extensive
program which is designed to bring both the Ross and Barber Projects to JORC
resource status prior to the commencement of a bankable feasibility study in mid
2010. Environmental baseline studies and metallurgical testing have commenced and
will be conducted concurrently with the drilling program.
Lance Project Background
The Lance Project is located on the North-East side of the Powder River Basin in
Wyoming. The original NuBeth Joint Venture, a joint venture between Nuclear
Dynamics Inc, Bethlehem Steel Corporation and later Pacific Power and Hydro
(“NuBeth JV”), discovered thirteen substantial zones of uranium mineralisation
associated with an extensive system of roll fronts through drilling between 1970 and
1979.
As part of this exploration program, the NuBeth JV drilled more than 5,000 exploration
and development holes, totalling in excess of 912,000 metres. This historic drilling data
was acquired by Peninsula in the second half on 2007 and has defined a little known
uranium district, mainly due to this drilling data and other project related data being
held by one related entity since its discovery in 1970. Peninsula now holds title over 7
of the 13 mineralised areas defined by the historic drilling, making it the dominant
mineral rights holder in this re-discovered uranium district. As previously announced,
the Company continues to actively acquire mineral title over the remaining Project
Areas as part of its dedicated land acquisition programme.
Conclusion
The completion of this intensive review and reinterpretation of the historical drill data
by WIM provides further confirmation of the potential economic viability of an ISR
operation at the Lance Project and supports the Company’s mission statement of
becoming a 1.5m lb per year U3O8 producer with production within one year of
permitting.
Yours Sincerely
John (Gus) Simpson
Chairman
For further information, please contact our office on (08)9420 9333 during normal business
hours.
1Please note that the potential quantity and grade of the Exploration Targets in this statement are
conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that
it is uncertain if further exploration will result in the determination of a Mineral Resource.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409
Disequilibrium Explanatory Statement: eU3O8 refers to the equivalent U3O8 grade. This is estimated from
gross-gamma down hole measurements corrected for water and drilling mud in each hole. These results
are provisional upon the application of calibration correction factors which are determined from
geochemical analysis. Geochemical analysis may show higher or lower amounts of actual U3O8, the
difference being referred to as disequilibrium. All eU3O8 results above are affected by issues pertaining to
possible disequilibrium and uranium mobility which should be taken into account when interpreting those
pending confirmatory chemical analyses.
Competent Person
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based
on information compiled by Jim Guilinger, Principal of independent consultants World Industrial Minerals
who has sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking as a Competent Person as defined in the 2004
Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr Guilinger consents to the inclusion in the report of the matters based on his information in
the form and context in which it appears.

SCHUMACHER
13-08-2008, 10:00 AM
June 2008 – QUARTERLY ACTIVITIES REPORT
HIGHLIGHTS

WYOMING, USA - LANCE URANIUM PROJECTS
- Revised exploration target is 39-60 million short tons at 0.05-0.07% eU3O8 for
between 50-76 million pounds of U3O81
- Drilling is scheduled to commence in September 2008 to convert historic
resources to JORC compliant status
-Senior environmental professional appointed to lead the baseline monitoring
and permitting process which commenced during the quarter
-Independent engineering expert appointed to review the hydrologic, process
and production data generated by the historic pilot plant

Cash at bank at the end of the Quarter was $5.13 million.

In June 2008, independent consultants World Industrial Minerals (“WIM”) completed
a thorough re-interpretation of the historic resources at the Lance Projects. This
process involved correlation of mineralised sands and construction of mineralisation
outlines over the thirteen project areas defined by historic drilling. The mineralised
outlines were constructed using realistic cut-off levels for grades and thickness so
that an objective estimation of the exploration target size for each Project could be
determined. This assessment has facilitated prioritisation of Projects in terms of the
development schedule for the planned recommencement of ISR mining.

The Ross Project (“Ross”), due to its high density of existing drilling and previous
hosting of the ISR Pilot Plant (now since fully rehabilitated) in the late 1970’s, has
been identified as the primary production centre with a revised Exploration target of
6.35-9.52 million short tons at 0.05-0.07% eU3O8 for 8-12 million pounds of U3O81. See
Figure 2.
The Barber Project (“Barber”) located 18km (18.2 miles) south of Ross and seen as a
second production centre, has a revised exploration target of between 2.60-3.90
million short tons at 0.07–0.09% eU3O8 for 4-6 million pounds of U3O81.
The revised exploration target within and between the remaining 11 Projects is 30.2-
46.8 million short tons at 0.05–0.07% eU3O8 for 38–58 million lb U3O81 giving a global
exploration target for the Lance projects of 39-60 million short tons at 0.05-0.07%
eU3O8 for between 50-76 million pounds of U3O81.

This significant potential is largely a result of the vertical stacking of the roll fronts
which multiplies the chances of mineralisation per km of strike length. In addition drill
density surrounding the Projects is very low and those holes drilled were often at
insufficient depth to test the deeper roll front positions. Follow-up drilling on many of
the widely spaced holes that did intersect mineralisation was minimal, all factors
indicating significant upside potential in these areas through further work.
The drilling, set to commence in September 2008, will be the first phase of an
extensive program which is designed to bring both the Ross and Barber Projects to
JORC resource status prior to the commencement of a bankable feasibility study in
mid 2010.
The completion of this intensive review and interpretation of the historical data by
WIM has provided the Company with further confirmation of the potential economic
viability of an ISR Operation at the Lance Project and supports the Company’s
mission statement of becoming a 1.5m lb per year U3O8 producer with production
within one year of permitting.
Key Development and Engineering Appointments
The environmental monitoring program at Lance commenced with the appointment
of senior environmental professional Pat Gochnour, a provider of environmental
services to the mining industry since 1981. Mr Gochnour’s areas of expertise include
environmental audits, reclamation planning, environmental contingency planning,
remediation and environmental litigation support. Past clients have included Phelps
Dodge, Barrick Gold and Lac Minerals.

regards Schu

JBmurc
14-08-2008, 06:40 PM
yeah lots of great news of late for PEN if only we were in U308 bull market PEN would be well over 20c

here's some numbers done by- Dhuy -of HC

Following calcs done on current exchange rate of USD/AUD $0.89.

Total (Gross) IGV AUD$3,030,300,000
Nett Annual Profit AUD$42,002,123 (all taxes/costs/capex accounted for)
Project life of 28 years
Nett value over project life AUD$1,176,059,430
Mkt Cap
Shares on Issue ~960,000,000
Total value per share for the Lance project of $1.225 (this is on a P/E of 1:1)

Annualised this is $0.044 on a P/E of 1:1
On a P/E of 10 (which is what will probably be the case) value per share $0.44

Now include PEN's great assets in SA there Gold in Fiji the good aussie tenaments $1sp might not be so outlandish in 3-4yrs time

brettdale
17-08-2008, 06:51 PM
Its a long termer, but I like a company with cash in the bank.

SCHUMACHER
28-08-2008, 03:34 PM
POSITIVE URANIUM RESULTS AT THE KAROO PROJECT, SOUTH AFRICA
Highlights
• Top 10 airborne anomalies at Site 29 validated on ground and average 0.09%
eU3O8
• The highest on ground reading was 0.6% eU3O8 with numerous values over 0.1%
• Four very high priority drill targets have been identified
• Uranium and molybdenum assays from rock chip samples imminent
• Increased prospectivity of the other 5 project areas hosting similar airborne
anomalies
Summary
Ground checking at Site 29, the first of the Company’s six uranium and molybdenum project
areas to be tested following the detailed radiometric survey conducted over the Karoo
Projects in South Africa (Airborne Survey), has validated the intensity and locations of the
Airborne Survey anomalies. In particular, the review has identified several areas with significant
potential to host economic uranium mineralisation (with readings to a maximum of 0.6% eU3O8
and numerous values over 0.1%). Thirty eight rock chip samples were taken and submitted for
laboratory uranium and molybdenum analysis.
The highlight of the initial field review on Site 29 was the identification of a triangular region
covering 2.8km2 within the central portion of the project area, defined by the location of
Anomalous Zones 1, 2, 3 and 4 (see Figure 2). The mineralised areas are located on the
exposed limbs of an open syncline and it is possible that the strata of the two limbs are
connected in the subsurface with the anomalies hosted within three vertically stacked
sandstone units. The historic “Quaggasfontein 166” resource drilled by Union Carbide in the
1970’s is located just south and down dip of Anomalous Zone 3, close to the synclinal axis. The
presence of the historic resource provides compelling evidence that the mineralisation
extends into the core of the synclinal structure (See Figure 3).
Anomalous Zones 5, 7 and 10 remain of high interest as exploration targets with high eU3O8
values, but are considered a lower priority than Anomalous Zones 2-4 because of the smaller
area of potential mineralisation, and in the case of Anomalous Zone 10, a lack of outcrop
upon which to judge the anomaly. Anomalous Zones 6, 8 and 9 are considered to have lower
potential even though they returned several high scintillometer values. This conclusion is
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
primarily a result of the anomalies being located within small erosional remnants of strata, with
little or no potential for lateral extension of the mineralisation being identified.
Radiometric Survey Anomaly Ground Checking
The radiometric anomalies at Site 29, located to the immediate south-east of Beaufort West,
referred to as Anomalous Zones 1-10, were visited during July 2008. (Refer Figures 1 and 2). The
aims of the field visit were to locate and validate the uranium channel anomalies identified in
the Airborne Survey, to calculate eU3O8 values for anomalies located in the field and to
investigate the geological setting of the areas.
All high ranking airborne anomalies were able to be located on ground. The anomalies had
their position recorded with a handheld GPS and the eU3O8 value for each anomaly was
calculated using a Radeye scintillometer. The eU3O8 estimates were then combined with
geological mapping and facies analysis to prioritise targets.
The host formation (Poortjie Member of the Teekloof Formation) is equivalent to that hosting
the mineralisation at the Ryst Kuil uranium deposit (located approximately 30km SE of Site 29
with endowment of 19m lb U3O8) and both share a similar northeast trending channel
sandstone geometry. Mapping by the South African Council for Geoscience has identified the
Poortjie Member to be the most prospective in the Karoo Basin with respect to combined
uranium and molybdenum potential.
The Poortjie Member is also the probable host of the historic “Quaggasfontein 166” resource
drilled by Union Carbide in the 1970’s and located to the south and down dip of Anomalous
Zone 3. The mineralisation was reported to be approximately 1m thick and 12m deep which
would explain the lack of a surface radiometric response.
Figure 1 Karoo Project Locations
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
Calculation of eU3O8 values and Sedimentological Mapping
The eU3O8 values listed in Table 1 for each of the anomalous zones represent a calculation
based on the average radiation (in counts per second - CPS) for each site. Each value
represents a compilation of ten measurements (of ten seconds each) for each site with the
measurements spread over a diameter of 2m around a central point. The average value (in
CPS) for each individual measurement was used and the individual measurements averaged
to arrive at a final value of CPS. This value was then multiplied by a calibration factor (unique
to the Radeye scintillometer used where averaged counts less than 1000cps were multiplied
by 0.76; whilst averaged counts greater than 1000cps were multiplied by 0.84) to arrive at the
eU3O8 value.
Whilst the intensity of the readings is encouraging, the majority of readings measured a single
exposed surface at many localities. Further work is required to establish what a true section
through the mineralised sandstone averages to get a better understanding of grades within
the mineralised zone.
Twenty three hand samples were collected and submitted to SGS Laboratories for uranium
and molybdenum analyses via XRF (X Ray Fluorescence). Samples were taken from the
localities with the highest eU3O8 values and were collected where the presence of outcrop
allowed.
Geological interpretation and evaluation of each radiometrically anomalous zone was
conducted in conjunction with the above mentioned procedures by sedimentologist and
regional expert Dr Barry Millsteed in order to provide an understanding of the geological
context of the anomalies. This assessment of the economic potential of the anomalous zones
forms the basis for prioritisation of further exploration activities. Amongst the data collected
were detailed measurements of the dip, dip direction and palaeo-flow direction (to identify
palaeo-channel orientation). Collectively these geological observations combine to facilitate
a better understanding of the direction of lateral extension of mineralisation away from the
anomaly as well as optimising drill hole targeting.
Ground Checking Results
The highlight of the initial field review on Site 29 is the identification of a triangular region within
the central portion of Site 29, defined by the location of Anomalous Zones 1, 2, 3 and 4. The
calculated eU3O8 values in Anomalous Zones 2, 3 and 4 are relatively high (averaging 0.13%,
0.05% and 0.2% eU3O8 respectively), and while those from Anomalous Zone 1 are lower in
intensity they are still considered encouraging with mapping indicating possible dilution of the
radiometric signal due to the highly weathered nature of the outcrop in that area.
The attractiveness of Anomalous Zones 1-4 is increased by their location on the exposed limbs
of an open syncline (Anomalous Zones 1, 2 and 3 are on the northern limb and Anomalous
Zone 4 on the southern limb with limbs dipping between 3 and 6 degrees). Specifically their
location suggests that the strata of the two limbs are connected in the subsurface although
the anomalies appear to be hosted within three different, vertically stacked sandstone units
(comprising a package approximately 50-60m thick) with similar NE trending palaeo-flow
directions. Anomalous Zones 2 and 3 in addition to the historically discovered mineralisation at
“Quaggasfontein 166” are interpreted to be within sandstone 2, and Zone 4 is interpreted to
be hosted by overlying sandstone 3.
Significantly, many of the surface radiometric readings are of a similar grade to the historic
mineralisation which averages 0.12% eU3O8.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
The aerial extent of any mineralised pods, their grade and whether they have continuity will
need to be identified with further mapping and drilling. As mentioned above, the highest
priority area (between Anomalous Zones 2, 3 and 4) which potentially contains these stacked
mineralised zones defines a triangle of approximately 2.4km2. Should Anomalous Zone 1 prove
to be related to mineralisation then the size of the area of interest would increase to
approximately 2.8km2.
Anomalous Zones 5 and 7 (average readings of 0.10% and 0.17% respectively) remain of high
interest as exploration targets, albeit of slightly lower priority than Anomalous Zones 2, 3 and 4
because of the smaller area of potential mineralisation present. Anomalous Zone 6 has some
promising grades but has a relatively small size potential based on possible subcrop of the
mineralised sand unit. The calculated eU3O8 values for Anomalous Zone 10 are low and if taken
at face value do not warrant further exploration activity. However there is evidence to suggest
that the values may represent an under-calculation due to the thickness of regolith in the
anomalous zone.
Anomalous Zones 8 and 9 are considered to have limited potential to host significant
mineralisation. This conclusion is primarily a result of the anomalies being located within small
erosional remnants of strata, with little or no potential for lateral extension of the mineralisation
being identified.
Figure 2 Site 29 Airborne radiometric anomaly intensities draped on Landsat image
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
Figure 3 Site 29 ground radiometric readings at each airborne anomaly, draped over vertically exaggerated
topography and Landsat image
Background on Karoo Uranium / Molybdenum Properties
Previous exploration for uranium was conducted over the Karoo region through the late 1960’s
and into the early 1980’s. Many sandstone-hosted uranium deposits and prospects were
identified but little analysis was carried out for the associated molybdenum, due to prevailing
low prices for that metal. Private exploration in the region ceased in the early 1980’s after the
worldwide fall in the demand for uranium, but the South African Council for Geoscience
completed a broad spaced airborne radiometric survey and then conducted surface
sampling of radioactive anomalies located by the airborne survey. The government identified
significant uranium and molybdenum mineralisation at each of the six project areas but there
has been no follow-up work conducted on these projects since the Geological Survey work
was undertaken.
Future Work
Peninsula’s field team will continue to make first pass visits to the other 5 project areas over the
next quarter to assess the new radiometric anomalies in those areas. Rock chip samples will be
collected for U/Mo assay and once the results have been received and interpreted, follow-up
geological mapping will be conducted on the best targets within all of the Karoo project
areas to prioritise targets for drill testing in 2009.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
Conclusion
The successful identification of airborne radiometric anomalies on ground highlights
the potential of the Karoo project to host additional uranium resources. In addition,
the ground validation of the anomalies gives great confidence that untested
anomalies on the other five project areas may also reflect bedrock mineralisation.
Yours Sincerely
John (Gus) Simpson
Chairman
For further information, please contact our office on (08)9420 9333 during normal business
hours.
Competent Person
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based
on information compiled by Mr Andrew Ford and Dr Alan Marlow, both Members of The Australasian
Institute of Mining and Metallurgy. Mr Ford is Chief Operating Officer and Dr Marlow is a Director of the
Company. Mr Ford and Dr Marlow has sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity which he is undertaking as a Competent
Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves’. Dr Marlow consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
Disequilibrium Explanatory Statement: eU3O8 refers to the equivalent eU3O8 grade. This is estimated from
scintillometer measurements recorded by a hand held scintillometer. These results are provisional upon
the application of calibration correction factors which are determined from geochemical analysis.
Geochemical analysis may show higher or lower amounts of actual U3O8, the difference being referred
to as disequilibrium. All eU3O8 results above are affected by issues pertaining to possible disequilibrium
and uranium mobility which should be taken into account when interpreting those pending confirmatory
chemical analyses.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals

JBmurc
29-08-2008, 10:14 AM
At this rate PEN will have even more U308 than even the most bullish investor thought what a horrid fact

SCHUMACHER
02-09-2008, 04:30 PM
Well september has arrived and we are ready to drill out the historical data....target has recently been increased so looking forward to september programme.....any day now!!

regards Schu

SCHUMACHER
02-09-2008, 04:33 PM
Uranium The Sustainable Phase of the Uranium Bull Market
We saw a uranium bubble driven by speculators in 2007 that has since been blown away.
Longer-term money is now getting set for the real wealth creation phase.

The Nuclear Resurgence is Happening: During 2007 four new reactors were added to the grids, adding 2,922 MWe of capacity.
Construction commenced on another 10, making a total of 34 now under construction. Another 29 were added to the planned category and 64 to the proposed category. On the basis that each of these will need 500 t U3O8 to start up, and 200 tpa U3O8 thereafter, they will consume 20,600 tpa U3O8 annually (as well as the 30,900 t start up
boost).

Annual mine production is currently in the order of 40-45,000 tpa U3O8. Hence, the industry needs many more mines.

Uranium Prices Have Turned Around: The U3O8 spot price has recovered to US$64/lb at the time of writing following a week of good demand. All the indications now are that the US$57/lb figure of a few weeks ago will be the low of this
wave.
Whether or not is marches higher, investors will take comfort that the fall has ended. It is time for uranium stocks to return to favour.

Nuclear Image is Improving: More work is required to overcome the image problem of nuclear power, but sentiment is gradually changing – especially with those countries that already rely on nuclear power. Germany and Sweden previously proposed to phase out nuclear power. Both are back-peddling on this policy, preparing the electorate for the
inevitable recommitment to nuclear power.

Is PM Rudd Wearing Blinkers? The Australian PM has been making climate change and greenhouse gases the
primary focus of his Government as he struts the world stage, but where is the initiative, let alone discussion, on the
most efficient and cleanest form of base load energy – nuclear power? The silence is deafening. It is a sad case that
the only State in Australia that supports uranium mining is South Australia. Our politicians need to get their heads out of
the sand.
Kintyre Sale Gives Market Value: The sale of Kintyre by RIO, to Cameco and Mitsubishi for US$495m, works out a
US$10.27/lb. It is a quality project with high grades but political problems, but this sale price will work as a useful
reference point.
The Market is Sorting Itself: The average movement of uranium stocks over the past three months has been a
neutral -1%, while the rest of the stock market has been crunched. This shows that the uranium bear market has run its
course. Individual uranium stocks have moved in a wide range as investors have become more selective.

Strong Performers: Alliance Resources and Peninsula Minerals, two of our favourites, were the best performing stocks over the past three months. They continue to be high conviction stocks.

Company % Rise Notes

Alliance Resources 63% High grades at Four Mile
Peninsula 63% Wyoming potential
Mantra Resources 56% Tanzanian exploration
Summit Resources 47% Queensland interests
Bannerman 34% Namibian project
Berkely Resources 26% Spanish deal
Energy Metals 26% High grade in NT
Paladin 25% Institutional money
Energy & Minerals 25% Recent IPO
Curnamona 24% Retention licence granted
Top 10 Performers - 18 April '08 to 17 July '08

SCHUMACHER
02-09-2008, 04:35 PM
Companies Covered in this Review
A. Producers and Potential Producers (Where Uranium is the Primary Focus)
Quality Value Mkt Cap Location Style/Target Page
AFR African Energy Sound Fair $28m Zambia Karoo 11
AGS Alliance Resources Excellent Excellent $300m Sth Australia paleochannel 11
BMN Bannerman Resourc. Sound Fair $338m Namibia alaskite 12
BKY Berkely Resources Sound Fair $102m Spain carbonaceous shaleʼs 13
BLR Black Range Minerals Good Excellent $33m Colorado, USA sandstone 14
CTS Contact Resources Poor Cheap $10m Peru volcanics 15
CUY Curnamona Energy Good Fair $36m Sth Aust paleochannel roll-front 16
DYL Deep Yellow Good Expensive $250m Namibia/Aust calcretes/various 16
EMA Energy & Minerals Fair Fair $180m WA lignite hosted 17
EME Energy Metals Good Excellent $116m NT sandstone 18
ERA ERA Excellent Fair $4.6bn NT unconformity 18
EXT Extract Resources Good Fully Priced $191m Namibia alaskite 19
MTN Marathon Resources Fair Fully Priced $71m Sth Aust granites 20
MRO Monaro Mining Good Excellent $42m USA/Kyrgyz/Australia sandstone/limesto/gran 20
PDN Paladin Resources Excellent Good $3.5bn Nambia/Malawi/Aust calcretes/Karoo 21
PEN Peninsula Mining Good Excellent $30m Wyoming/Sth Afr/Aus sandstone/Karoo/paleo 22
PNN PepinNini Minerals Fair Fully Priced $50m Sth Australia granites 23
SMM Summit Resources Good Fully Priced $601m Qld volcanic/breccia 23
TOE Toro Energy Excellent Fair $104m WA/NT/Namibia paleochannel/IOCGU 24
UNX Uranex Fair Fair $20m WA/Tanzania calcrete/Karoo 25
WCU White Canyon Reasonable Fair $31m Utah, USA sandstone 25
WHE Wildhorse Energy Good Fully Priced $39m USA/Hungary/Paraguay sandstone

SCHUMACHER
02-09-2008, 04:40 PM
A quick glance shows that the best performing stocks are mostly at the quality end where there are real resources
and opportunity to progress to production. Two of our favourites from the previous review were the top two
performers.
The top performing stocks were;
• Alliance (+63%) - best quality in terms of grade and capital risk, high grade intercepts
• Peninsula (+63%) - accumulating high quality lease position in Wyoming and drilling soon
• Mantra Resources (+56%) - high profile support with Highland Park deal
The worst performing stocks were;
• Mintails (-61%) - concerns about management changes and commissioning delays, Sth Africa
• Marathon (-42%) - concern ability to mine in reserves, management changes
• African Energy (-41%) - digesting share issue, pre-feasibility study
• Contact Resources (-41%) – concerns about management and dubious option issue

SCHUMACHER
02-09-2008, 04:42 PM
Cash Generation Multiples ...PEN in good shape
At US$64/lb
AUD/USD 0.9700
• The uranium price is continuing to trade in our expected range of US$60-$80/lb in 2008, after a brief dip to
US$57/lb. We have run our numbers on the latest spot price of US$64/lb.
• Longer term, given the multitude of low-grade projects that could come on-stream at the higher prices, we
expect that the uranium price may drop back to US$50/lb within 3-5 years. Those company that can
commence production within five years will get the benefits of higher prices. They are the one that will be
the beneficiaries of the current strength and they will be well positioned to undertake corporate takeovers.
• At US$64/lb;
 The average cash generation multiple is 2.4x
 The cheapest companies, selling on a multiple of <1x, are;
 Contact, Black Range, Monaro, Peninsula and Uranex . Both Contact and Uranex have
had management issues, while Black Range, Monaro and Peninsula operate in the USA,
which seems to be misunderstood by the market.
 The most expensive companies, on multiples > 5x are;
 Deep Yellow, Paladin and Alliance. Why Deep Yellow should consistently carry such a
high rating is a mystery, as it is low grade. Other Namibian stocks trade on ratios around
2x. In the case of Alliance and Paladin the higher ratio reflects the grade and quality of the

SCHUMACHER
02-09-2008, 04:47 PM
Investment Perspective: PEN has confirmed that its Wyoming target is realistic, at a
minimum grade of 500 ppm. It looks like it is sitting on a very profitable project. We have used US$22/lb in our numbers rather than the US$15/lb that PEN had in a recent presentation, but the prospective numbers still look excellent with the shares on a prospective cash flow multiple of much less than one.

This is one of the best value uranium stocks. Even though we are still waiting on JORC status resources, there is a high degree of confidence coming from historical work by reputable companies. The South African properties add further interest with the recent surveys showing potential for expanded mineralisation.
PEN announced a revised exploration target at its Lance project in Wyoming, on 7/7/08, after a review by independent consultants World Industrial Minerals (WMO). The new figure is 22,000-31,000 t U3O8 at grades of 500-700 ppm. WMOʼs work correlated mineralised sands and construction of mineralisation outlines over 13 project areas defined by historical drilling.


Drilling is planned to commence in September to convert historic mineralisation to JORC
status. This is later than the earlier advised May date, due the time it took to secure key ground
positions. The acquisitions, announced in May, cover the site of the earlier NuBeth ISL pilot
plant and ground where 329 historical holes had intersected mineralisation in vertically stacked roll fronts.

Nuclear Dynamics and Bethlehem Steel previously discovered an extensive system of more
than 20 mineralised roll-fronts, drilling more than 5,000 holes over an eight-year period, for a
total of 912,000m. The roll-fronts are frequently stacked with up to seven in one location.
According to historical information, one deposit is 700m x 600m and 3m thick. Another is
1,300m x 150m and 2m thick. Both show excellent continuity. Intersections of 1,000 to 2,000
ppm are not uncommon. The average grade was 700 ppm. Depths are generally 120-150m.

The NuBeth JV initiated an ISL project in 1970 but it wasnʼt scaled up to full production due to low uranium prices. The ground has sat dormant since then.
It would not be unreasonable to expect a recoverable resource of 10,000 t U3O8, but this needs further work before a JORC resource can be calculated. (PEN says its target is 18,000-27,000 t U3O8, at 500-800 ppm). Something this size could support a 750,000 tpa operation that might involve capital expenditure in year one of US$70m, with annual increments of $8m.
The operating cost of an ISL operation might be US$22/lb based on a head grade of 500 ppm. An operation of this size could earn significant profits, generating cash flow of $86m at current uranium prices, or better than 7¢ a share, placing them on a cash generation multiple of 0.4x

The Company also has six licences covering prospective Karoo sandstone in South Africa.
Historical work has demonstrated uranium with Sites 22 and 45 having deposits of 1,100 t and 1,200 t U3O8 respectively. These need to be brought up to the JORC status. PEN announced results of a 100m-spaced Fugro airborne radiometric survey in May 2008. New areas of anomalism were identified in all of the six Karoo licences.....

brettdale
02-09-2008, 06:58 PM
I keep putting off buying this stock, but this thread has given something for me to think about.

SCHUMACHER
02-09-2008, 07:48 PM
Brett , understand what your saying...i now hold 1.5 million which ive accumulated between 2.5 and 2.6c recently.....the main reason is because ive done my homework and as per my posts today you can see PEN,s massive potential
Far East Capital (Warrick Grigor) who is an authority on the U industry has researched all the current producers and potential producers and as per my posts , you can see that Pen is one of the front runners in the race to become producer......drilling of historical data commences with target upgrades as i have mentioned today.......If youve read my posts you will see that even DYL has lower grades and payback period is 8 years compared to PEN 9 months......

PEN originally mentioned that cost to produce per pound was $15.00 but the report suggested to allow $22/lb cost per l/b u308...."The operating cost of an ISL operation might be US$22/lb based on a head grade of 500 ppm. An operation of this size could earn significant profits, generating cash flow of $86m at current uranium prices, or better than 7¢ a share, placing them on a cash generation multiple of 0.4x

... DYL was much higher and was only generating cashlow of around $40million ...which was surprising to me....im comparing DYL because it was previously a market favourite and these reports suggests that they are well overpriced......PEN is more attractive bet with low risk at currnet price...they have plenty of cash to see them thru to feasibility as they ar only drilling out historic data which is not as expensive as they have specific targets......anyway i could go on all night about why i think PEN is the one to watch....the information i have posted is "GOLDEN" ...READ it over and over a few times and then decide....remember its your money but im prepared to put my cash on the line to prove a point to myself that ive covered all the bases of making a professional decision to invest in PEN....forget the current shareprice as ALL u stocks have been hammered....the key now is to pick the ones with the best possible chance of becomming a producer in 3 years time....PEN is one of those companies.
Cheers Schu

SCHUMACHER
02-09-2008, 07:52 PM
must be tired , that last post sounds very repetative but im sure you get the point........cheers Schu

SCHUMACHER
02-09-2008, 07:57 PM
Brett , if you like I can email you the entire 44 page document in PDF , which basicallly analizes the top companies in the Uranium Industry , so you can get straight to the facts.....ive only posted specific pages today


Let me know if you want a copy

Regards Schu

SCHUMACHER
08-09-2008, 02:09 PM
SUITABILITY FOR IN-SITU RECOVERY (ISR) CONFIRMED
Independent review of historical data has confirmed that the Lance Project is suitable for In-
Situ Recovery mining.
Highlights
• Impermeable shale beds exist above and below the uraniferous sandstones
• Horizontal and vertical permeability and porosity is suitable for ISR
• Uranium was successfully leached from core testing
• Successful hydrological testing indicates good groundwater recharge and movement
• Successful in-situ leaching of uranium
• Mineralised sands are below the water table, and the water is suitable for ISR
• Hydrostatic pressures in mineralised sands are conducive to uranium dissolution
• Successful restoration of the groundwater
Summary
Peninsula Minerals is pleased to announce the results of the independent engineering review
of the historic hydrologic, process and production data generated at the Lance Projects in
Wyoming, USA (“Lance Projects”). The review, which was conducted by independent
consultants World Industrial Minerals (“WIM”), confirmed that “the historic testing addressed all
key criteria for a successful ISR operation” and provides a high level of confidence that the
Lance Projects are suitable for ISR recovery.
In-Situ Recovery Overview
The purpose of this review was to determine if the sandstone hosted uranium deposits present
on the Lance Projects have all of the characteristics necessary for economic ISR recovery.
ISR is the extraction of uranium from sandstone aquifers by the cycling of oxygen enriched
water through the aquifer which hosts U3O8 deposits on the redox fronts. Comparisons to
extracting oil or gas from sandstone hosts can be made. These deposits formed from the
precipitation of U3O8 out of solution when uranium enriched ground water moving through the
sandstone encounters an oxygen reduced (redox front) section of the aquifer. Assuming the
sandstone aquifer meets the pre-conditions for this style of mineral extraction this is a relatively
simple, low cost operation. The mining operation can be low cost as there is no blasting, earth
moving and milling component to the process. Typically 36% of the worlds uranium production
is derived from ISR operations.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
The following key criteria were assessed:
• Aquifer geology and containment;
• Permeability/Porosity of the mineralised aquifers and shale/siltstone units;
• Solubility of uranium in laboratory and field tests; and
• That the mineralised sands are below the water table, and the water is suitable for ISR.
Aquifer Geology and Containment
The uranium deposits present in the Lance Project Area are mostly tabular in nature and
hosted in 22 stacked mineralised sandstone units separated by impermeable
mudstones/siltstones. Zones of consistent mineralisation are characterised by broad widths of
clean sandstone bounded above and below by shale beds. The bounding shale horizons are
present in all areas where logs were available for review. This configuration is ideal for in-situ
recovery of uranium where isolation of the aquifer being mined is essential.
A petrographic study of the core from the push-pull test hole SP758R located at the Oshoto
deposit (part of the Ross Project Area within the Lance Projects) showed the composition of
the aquifer to be comprised of clean, fine to medium grained sandstone. The sandstone is
dominantly quartz (60%), with a low (5%) clay content. The sand examined also contained 1%
organic material (a key reductant for the deposition of uranium). This composition is typical of
many Wyoming uranium deposits and the clean nature of the sand results in the high
permeability’s and porosities discussed below.
Permeability/ Porosity
Porosity and permeability are vital criteria for ISR. Porosity measures the amount of water that
can be contained by an aquifer, and this is related to the amount of space between the sand
grains. Permeability measures how quickly a fluid can move through an aquifer. Tests on select
cores in the Ross Project area were conducted in 1976 and 1977. The permeability of the
sandstones tested, commonly between 1,000 and 2,000 millidarcy’s (and up to 3,944
millidarcy’s) meets or exceeds that of nearby ISR Projects being developed (where
permeability’s over 700 millidarcy’s are considered good) and is very suitable for ISR mining
methods. The mineralised sandstone units commonly contain thin (typically less than one foot)
horizons of siltstone and shale, however these discontinuous shale horizons do not affect the
permeability of the sand units appreciably and tend to increase the ratio of horizontal to
vertical permeability. This is advantageous in helping control the flow of solution underground
and is typical of uraniferous sandstone units in Wyoming.
Uranium Solubility Testing
• Laboratory Tests
The Bethlehem Research Lab conducted leach tests on cores from the Ross Project
Area. The grade of the core tested was 0.16% U3O8. The cores were leached with two
different lixivants; ammonium bicarbonate and sulphuric acid. It should be noted that
neither of these leach solutions are used today in the US. Both of the leach tests were
successful, with 89% recovery of uranium from the ammonium leach and 95% recovery
from the sulphuric acid leach. The leach tests, although not a direct analogue of ISR,
clearly prove that uranium can be successfully leached from the projects rocks. In the
upcoming drill program Peninsula will conduct a series of further core tests using
lixivants in use today (e.g. Sodium bicarbonate and oxygen).
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
• On Site Push-Pull In-Situ Recovery Test
A push-pull test was conducted in the north of the Ross Project for ten days in 1976 with
a solution of ammonium bicarbonate and ammonium hydroxide injected into the
uranium bearing “J” sand. Injection was conducted for two days, and the lixivant was
left to react with the uranium bearing aquifer for a week. Two days of pumping were
then conducted and it was estimated that 6 pounds of uranium were contained in the
4055 gallons pumped from the well.
The solution was passed through a column containing ion exchange resin and
practically all of the extracted uranium was absorbed by the resin, highlighting the
suitability of the resin exchange process for this area. The push-pull test successfully
demonstrated that the aquifer in the area was contained, water quality was good,
and uranium was soluble under oxidizing conditions and could be readily absorbed
onto ion exchange resin. These results were seen as very encouraging and the
installation of a more advanced pilot plant test facility commenced soon after.
• Larger Scale Five Spot Test and Pilot Plant
A more advanced facility with a design capacity of 40,000 lb/year U3O8 was installed
and operated from October 1977 until April 1978, prior to being shut down prematurely
following the Three Mile Island incident. A 5 spot pattern comprising one extraction well
surrounded by four injection wells (the standard well field layout and most commonly
used design today) was established in the central portion of the Ross Project targeting
the “J” or B sand again. A benign sodium bicarbonate lixivant was used in the pilot
plant and this method is still the preferred leaching agent used in Wyoming today. The
premature shut down prevented a thorough assessment as to the uranium extracted in
the trial with the partially uranium loaded resins sold to a nearby uranium processing
facility.
Of major importance to Peninsula’s future plans was the completion of a series of
hydrological tests prior to mining commencement. These tests were to determine:
o Degree of hydraulic isolation of the ore bearing aquifer;
o The parameter’s transmissivity, storage coefficient and the hydraulic
conductivity (permeability of the aquifer); and
o The potential for contamination of the water outside of the mining zone and its
rate of movement.
The results of the test were highly encouraging. A regionally extensive clay/shale layer was
identified between the A and B aquifers preventing co-mingling of the uranium extracting
solutions and other ground waters; vital criteria for an ISR operation. Analysis of the cores taken
from the mineralised B aquifer gave porosities between 19.6% and 28.6%, and excellent
horizontal permeability’s to 3944 millidarcy’s as discussed above. Analysis of the pumping test
data showed no leakage between Aquifer A and Aquifer B during a 72 hour pumping test. The
computed flow rate of Aquifer B under natural conditions is less than 1 foot per year which
gives a great deal of control in managing a well field. Additionally, the tests showed that within
the 1,700-foot cone of depression developed during the pumping period there were no
hydrological boundaries encountered indicating that the B aquifer is relatively consistent for a
radius of 1,300 feet (396m) or more. For ISR mining purposes this means that injected lixivants
can be recovered over at least a 1,300-foot (396m) radius without disruption or loss of uranium
loaded solutions.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
Despite the Pilot Plant being shut down prematurely, a number of very important criteria were
verified in the test, in particular the strongly positive hydrologic parameters and the ability to
dissolve uranium using the currently used sodium bicarbonate lixivant.
Aquifer Water Characteristics
Testing as part of the baseline monitoring program conducted during the 5 spot test revealed
a good quality of water, with the principal salts present being sodium bicarbonate and sodium
sulphate, common in groundwater in this area and are not deleterious to an ISR operation.
Calcium content of the water at this site was considered quite low at 11 milligrams per litre.
In a recent press interview, Glen Catchpole, experienced ISR operator and CEO of Uranerz, a
Wyoming company currently developing an ISR mine south of the Lance Project, discussed the
advantages of hydrostatic pressure or head in the mineralised aquifer. The more pressure there
is in the mineralised aquifer the greater the amount of oxygen that can be injected and put
into solution. The more oxygen that can be put into solution, the more effectively the uranium
can be dissolved or oxidized. Therefore uranium recovery is more economical with greater
oxygenation of the ground water.
The hydrological testing at the Ross Project “B” aquifer (mineralised zone) as part of the 5 Spot
Test showed a promising positive hydrostatic head from the artesian non flowing aquifer when
the test work was done in 1977, where the water table was around 110 ft (33m) and the ore
zone was 430ft (131m) below surface. However, additional testing is planned to determine the
formation hydrostatic pressure or head currently.
At the termination of the in-situ leach tests the uranium bearing aquifer was flushed and
successfully restored to a quality level acceptable to Wyoming State Regulators and the
Nuclear Regulatory Commission (NRC), with all bonds released and returned to the Joint
Venture partners in 1984. The historic information showed that the aquifer and water quality
were suitable for ISR mining. The fact that reclamation was successful is a major positive for the
completion of future reclamation. One of the tasks in the upcoming drilling programme by
Peninsula will be to establish baseline water quality in the Ross Project area.
Lance Project Background
The Lance Project is located on the North-East side of the Powder River Basin in Wyoming. The
original NuBeth Joint Venture, a joint venture between Nuclear Dynamics Inc, Bethlehem Steel
Corporation and later Pacific Power and Hydro (“NuBeth JV”), discovered thirteen substantial
zones of uranium mineralisation associated with an extensive system of roll fronts through
drilling between 1970 and 1979.
As part of this exploration program, the NuBeth JV drilled more than 5,000 exploration and
development holes, totalling in excess of 912,000 metres. This historic drilling data was acquired
by Peninsula in 2007 and has defined a little known uranium district, mainly due to this drilling
data and other project related data being held by one related entity since its discovery in
1970. Peninsula now holds title over 7 of the 13 mineralised areas defined by the historic drilling,
making it the dominant mineral rights holder in this re-discovered uranium district. As previously
announced, the Company continues to actively acquire mineral title over the remaining
Project Areas as part of its dedicated land acquisition programme.
31 Ord Street, West Perth WA 6005,
GPO Box 2809, West Perth WA 6872
Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477
Peninsula Minerals Limited - ABN: 67 062 409 303
Conclusions
Based on the findings of the independent review, World Industrial Minerals concluded that the
NuBeth JV confirmed the vabidity of recovering uranium from uraniferous sandstones present
in the Ross Project area. Peninsula can now continue to proceed towards development and
mining at Lance with a high degree of confidence that the project area is suitable for an ISR
operation. Further hydrological data will be gathered from the planned drilling and
metallurgical testing program that is planned to commence in mid-September.
Yours Sincerely
John (Gus) Simpson
Chairman
For further information, please contact our office on (08)9420 9333 during normal business
hours.
Competent Person
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based
on information compiled by Jim Guilinger, Principal of independent consultants World Industrial Minerals
who has sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking as a Competent Person as defined in the 2004
Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr Guilinger consents to the inclusion in the report of the matters based on his information in
the form and context in which it appears.

JBmurc
08-09-2008, 06:37 PM
Think gus n the boys will make us very rich in yrs to comes SCHUMACHER it's really only a matter of time till PEN are producing U308 and are 10x time their current worth U308 will once again be in the spotlight and in another bull trend above 100lb

SCHUMACHER
08-09-2008, 07:56 PM
JB have to like the announcement today....shows that the field work based on historical data places PEN in a very strong position for success.....as you may knwo , i keep in regular contact with Management and can comfortably say , they are GOOD!!.....Drilling on target for mid september (1 week) as per todays announcement .........good close at 2.9c today....im heavily into PEN now.....picked up another 500k at 2.6c today

Like the story as im sure you do and agree with your statement "Think gus n the boys will make us very rich in yrs to come "

They are making all the right moves and in talking with management, their opinion of the current shareprice is irrelevant as its about achieving their objectives and mission statement of becoming a PRODUCER...the shareprice will follow their success..

if you have seen Mr grigors report published in July 2008 you will see that he places PEN as a low cost ISL operation at around $22/lb U308 .......and one of the top 3 companies to become a U producer...........cheers Schu

SCHUMACHER
08-09-2008, 08:33 PM
Eyes on US drills

THERE'S another election that could have a big effect on Australian resources companies -- the presidential race in the US. Not only does the McCain-Palin ticket promise more nuclear power stations, but there is a new consciousness in the US about energy independence.

Terms that bounce around the cable news discussions include "drill, drill, drill", "all of the above" (meaning the embrace of all domestic forms of energy from oil and gas to renewables to nuclear) and references to the $US700 billion a year the Americans send to places that don't like them, especially Saudi Arabia and Venezuela, to pay for crude.

Regardless of which side wins, there seems to be growing bipartisan support for greater energy independence, so this is going to be a very big story for any Aussie company getting part of the action.

Recent moves include one by L&M Petroleum (LMP), the Wellington-based but Australian-listed explorer for oil and gas across the ditch -- and no sniggers, please; there have been some impressive oil and gas developments of late in our trans-Tasman neighbour. Now the company has established a beach-head in California's San Joaquin Basin through a farm-in to acreage held by Salinas Energy (SAE). Their first drilling target will be the Osso Bucco prospect, where they are hoping to confirm a recoverable reserve of 18 million barrels.

Oklahoma explorer Exoma Energy (EXE) has reported a fivefold increase in its proven and probable oil and gas reserves to 828,000 barrels of oil equivalent. The Gilbert Freeman-2 well on the Gulf Coast of Texas, in which Strike Oil (STX) has a 22.8 per cent stake, has seen a 25 per cent increase in production to 9 million cubic feet and 245 barrels of oil condensate a day.

Surprisingly little attention is still being paid to the Australian uranium effort in the US but, especially if the Republicans win, some of the companies to keep an eye on are Peninsula Mining (PEN) and its Lance project in Wyoming, Black Range Minerals (BLR) in Colorado, Monaro Mining (MRO), whose merger with Uranium King gave it uranium in Nevada, and Wildhorse Energy (WHE).

SCHUMACHER
08-09-2008, 08:47 PM
JBMURC......soon punters/investors are going to figure out what POTENTIAL PEN have....currently its under the radar.....good to see it memntioned in "the australian" if youve read my previous post .......................

looking at the charts for a moment.....there is a bullish signal following todays trading as the shareprice closed significantly higher than its open at 2.4c ....if you use candlesticks we have a "big white candle " considered bullish due to price close over price open 2.4/2.9c close.
From my understanding , if the candle occurs when the shareprice is around its lowest levels ...it generates a strong bullish sentiment. Also if candle shows up during a break through a resistence level then it adds weight and strength to a continued bullish sentiment...tomorrow will tell the stroy.....

I suspect we may see the next leg up for PEN this week or the next.....I think PEN will be noticed again based on the strength of their projects.........Obviously their Company maker is LANCE in Wyomong and then there is KAROO showing promise in South Africa..........


cheers Schu

JBmurc
08-09-2008, 09:00 PM
JBMURC......soon punters/investors are going to figure out what POTENTIAL PEN have....currently its under the radar.....good to see it memntioned in "the australian" if youve read my previous post .......................

looking at the charts for a moment.....there is a bullish signal following todays trading as the shareprice closed significantly higher than its open at 2.4c ....if you use candlesticks we have a "big white candle " considered bullish due to price close over price open 2.4/2.9c close.
From my understanding , if the candle occurs when the shareprice is around its lowest levels ...it generates a strong bullish sentiment. Also if candle shows up during a break through a resistence level then it adds weight and strength to a continued bullish sentiment...tomorrow will tell the stroy.....

I suspect we may see the next leg up for PEN this week or the next.....I think PEN will be noticed again based on the strength of their projects.........Obviously their Company maker is LANCE in Wyomong and then there is KAROO showing promise in South Africa..........


cheers Schu

Yeah for sure PEN gets well overlooked because of it penny dreadfull stutUs
at 2-3c I'm all for PEN to consulate there near billion shares down to 100million so 20c-30c SP would get some more respect imho still even if they don't they are an amsolute bargin at the moment plan to be holding over 1mill PENO tomorrow

shasta
18-09-2008, 06:50 PM
Yeah for sure PEN gets well overlooked because of it penny dreadfull stutUs
at 2-3c I'm all for PEN to consulate there near billion shares down to 100million so 20c-30c SP would get some more respect imho still even if they don't they are an amsolute bargin at the moment plan to be holding over 1mill PENO tomorrow


PEN - Presentation (Well worth a read, this is flying well under the radar)

http://www.stocknessmonster.com/news-item?S=PEN&E=ASX&N=421369

CAM
19-09-2008, 08:20 AM
JORC compliant resource not planned until November 09
so no rush to get in yet.... with the way the markets are it might be worth a cheeky bid and file in the bottom draw

brettdale
19-09-2008, 01:19 PM
Im thinking march next year, will be the time to get in, surly most companies now have reached their low, heck some a year ago were in the 30-50 cents range are now in the 1-5 cent range, it cant get much lower.

SCHUMACHER
14-10-2008, 07:05 AM
Bought more PEN right on the close yesterday at 1.4c....fantastic and bought some at 1.5c during the day........DOW up over 600+ points as i write this so we should be in for a good day on the ASX......i see the positive piece of news out of the US is that morgan stanly shares rose 58% as mitsubushi financial purchased a fat chunk of MS (approx 9%)

lets hear it for a good day!!

Cheers Schu

SCHUMACHER
18-10-2008, 10:25 AM
TONY Ive emailed you a copy of Warrick Grigors U report as requested

its very imformative and Warrick grigor sent it to me as I have him on speed dial....lol

Take a look at the comparisons between DYL verses PEN and AGS....interesting to look at the payback periods on DYL which is around 9 years compared to PEN which is approx 18 months.....PEN is also in the top 3 lowest cost producers....very impressive indeed



S CRUDE Ive sent you a PM also

Bought more at 1.6c yesterday ......at these prices im going long 2011 -2012 if the shareprice is 5c then im still making 300% return......lol

hopefully U price will be back around $70 by then.....dont forget fellas , U ranium demand is still in tact.......its the recession that is playing with peoples minds right now....cheers



cheers Schu

Crypto Crude
10-11-2008, 01:00 PM
abit dissapointed you never emailed me that PEN report schumacher...
:(
.^sc

SCHUMACHER
11-11-2008, 07:42 PM
Sorry Shrewd..............i thought i emailed it to you as well.....send me a PM and I will respond...cheers schu

JBmurc
05-01-2009, 10:34 AM
Hope you guys loaded up in PEN recently ,selling depth looking real weak could reach .025c today
got some more recently at .015c going be real nice when it starts moving in 1c increments
which IMHO should be before 2012

JBmurc
20-01-2009, 09:27 AM
PENINSULA ACQUIRES ADDITIONAL GROUND HOSTING HISTORIC MINERALISATION AT THE
LANCE PROJECTS
Highlights
 Newly acquired ground secured hosting historic uranium mineralisation
 Total land holding now 14,041 acres
 Additional ground contains 506 historic drill holes
 Multiple vertically stacked roll fronts intersected in each area
 Best mineralisation intersected is 2.74m (9ft) @ 1,970ppm eU3O8.
 Advanced negotiations on further ground near completion
Summary
Peninsula Minerals Limited (Peninsula) is pleased to announce that the Mineral Rights
acquisition program has secured further land and mineral title at the Lance Projects in
Wyoming, USA (Lance Projects). The total area now controlled by Peninsula is 56.8km²
(14,041 acres).
While already the dominant mineral rights holder in the re-discovered Sundance uranium
district, Peninsula continues to acquire title over additional land with advanced
negotiations near completion on further key strategic ground. The acquisition of further
land and mineral title is an ongoing process while the Company continues its focused
exploration program at the Lance Projects.

JBmurc
07-04-2009, 09:41 AM
so glad I sold out of my 1m PENO to buy up PEN at 1.6c this share has by far the best 10 bagger potential in my portfolio

the chart looks very nice IMHO

marknz88
07-04-2009, 10:50 AM
Nice work at picking pen up @ 1.6.

I seriously considered putting in a small order, but just didnt go with my gut.

Am following closely for a pull back to 1.8-2.1 ish if one arises, to jump in.

Plenty of time to get on board before JORC later this year. Would be good to ride the initial rise tho.

JBmurc
25-04-2009, 08:20 PM
-TRADING HALT- PEN will be annoucing futher upgrades to their U308 grades
closed at 3.5c(guys in the know buying) could well run hard to good results

glad to have brought some more holding 775,000 10c is just round the corner

where you at SCHU an other PEN holders

Mick100
26-04-2009, 02:44 PM
Not sure whats going on here

The market has never taken much notice of drilling results before which , on average, have been pretty good

maybe it's just rerating - a potentually low cost operator, in a good duristriction with plenty of cash.

Maybe it's just the general excitement around U cos at the moment

disc. hold

JBmurc
06-05-2009, 05:13 PM
Lastest presentation a future PDN

-45mill nett profit @ 65lbs U308
-looks very likely to have a massive U308 reserve base

3yr target 1000% min SP growth

http://hotcopper.com.au/asx_announcements.asp?id=52035

JBmurc
07-05-2009, 09:02 AM
couldn't say it better---------

-post of HC mickqld-
PDN 623 million shares on issue market cap $2.89 billion share price $4.57. For PEN to ramp up both Lance and Karoo to their projected capacity would just about match targeted output for Paladin's Langer Heinrich and Kayalakera operations. PEN has 921 million shares on issue and another 200 million odd options.
But PEN's Lance project being ISR will be much cheaper to operate than either of Paladins conventional dig up,crush, wash and extract operations.-



--Of course PEN has along way to go before getting to PDN production levels but if cash can be raised in due time .........
-I personal would like to see PEN consolidate their large 921m outstanding shares(I have brought this up with PEN management)
a 10:1 would do wonder's as-a 3.3c goes to 33c per share

1 - Less shares on issue = less available to buy = higher price movements

2 - More attractive to institutions with a higher share price

-then in due time PEN could Cap raising say 20% discount att, free $1opt 2014

overall it's very easy to see the massive potential once PEN have a PDN size production an no more than 300mill shares est. PEN could well command a $10sp this is of course on the back of a much higher U308 price in the 000's


-A cheap takeover would be the worse thing that could happen

JBmurc
07-05-2009, 12:55 PM
currently up 17% to 4c very large volume day a close in the low 4-4.3 very possible
Up 145% from 55days ago............

Serpie
07-05-2009, 01:27 PM
Sorry to post on this thread, but any views on minnow PDM JBmurc?

JBmurc
07-05-2009, 02:14 PM
Sorry to post on this thread, but any views on minnow PDM JBmurc?

Had a quick look as I have some funds to invest without looking to deep PDM looks much like ZGM,TTR,HTM etc great exploration potential but as the share prices have shown pretty disappointing most the time as there to small to grab even the keenest of risktaking sharetraders....and really only come into their own in very bullish metal markets


Personal when investing in explorers I like to see massive reserves large cash balances an real smart management but trade relatively cheap to there peers-- IRN PEN are two very good examples of this both these explorers will do very well in the future

Serpie
07-05-2009, 02:18 PM
Cheers JB. Appreciate your time and expertise very much.
Good luck with PEN!

Thumpa
14-05-2009, 09:46 PM
The monthly chart. Nice gains last three months. See the volume rising slow and steady?
Like many shares , the time to buy is when interest and volume is low. Brought a holding recently and will sit and wait a while. A little patience could pay off.

http://i167.photobucket.com/albums/u150/soundzgoodgood/PEN.png

shasta
29-05-2009, 06:36 PM
PEN looks worth a punt to get the very cheap options?

http://www.stocknessmonster.com/news-item?S=PEN&E=ASX&N=448430

tobo
30-05-2009, 10:51 AM
Great! :mad:
Cheap and free options(low exercise price).:D But it will be fully/oversubscibed :(

buy in next week and you can participate!
Everyone will do this, sp will rise. This will cause even more to do it later in the week, causing further sp increase. Then, when issued, there will be profit-taking and sp will drop. Interferes with my objective to accumulate by partcipating.

The Company has also resolved to undertake a non-renounceable Entitlement Issue on a 1:6 basis at a price of 2.8 cents per share, together with one (1) free attaching option for every four (4) new shares allotted to raise a further A$4.5 million. The free attaching options are exercisable at 3 cents on or before 30 June 2012. If fully subscribed the Entitlement Issue will result in the issue of approximately 160.1 million additional Peninsula ordinary shares and 40 million additional Peninsula options.
Eligible Shareholders who hold shares as at the Record Date of 10 June 2009

ToBo.
Holding LT

Thumpa
01-06-2009, 03:14 PM
topped up today to a quantity that divides by 6 and then divides by 4 leaving nice tidy numbers for the issue. Sad I know , but hate messy numbers. :rolleyes:

JBmurc
01-06-2009, 04:28 PM
wow great news PEN should be able to raise the funds easy with the free opt at 3c this is a very cheap opt compared to their 10c ex ones which I held after their last raising but sold as they looked to riskier as time went by

tobo
02-06-2009, 06:22 AM
Thumpa, I thought the same thing but struggling to find sufficient cash for topup...but also unsure whether sp would hold strong or drop. Glad to see recovery later yesturday.


JB, yes, 3c seems very affordable...already in the money without waiting for further future anticipated sp increases

JBmurc
02-06-2009, 07:48 AM
Thumpa, I thought the same thing but struggling to find sufficient cash for topup...but also unsure whether sp would hold strong or drop. Glad to see recovery later yesturday.


JB, yes, 3c seems very affordable...already in the money without waiting for further future anticipated sp increases

yeah I'm going try for more than my entitlement prob 180,000 shares the 3c opts will be very sort after for a start I remember last time the free opts went to over 3c ea these will prob be at least worth 2c to buyers and personal I don't see the head shares falling much at the most to 3c so should be a very nice paper profit straight away..off only 2.8c

JBmurc
05-06-2009, 04:03 PM
Great to see PEN hold round 3.5c a lot a people believed PEN would fall to close to the offer price 2.8c-3c once the Right's issue went past the ex. date as holders sold to funds new shares + free opts...shows how much confidence shareholders have going forward......
I see HZN got under 50% acceptance for their cheap Cap raising ....going be interesting how PEN goes might try getting 200,000 as I'd be surprised if everone takes it up with so many Cap raising round atm..

soulman
05-06-2009, 05:18 PM
PEN holding quite well but the entitlement is a 1 for 6. Good luck in getting more.

Also, for you to note, the placement shares will be out after 10th June, so downside risk is possible for instos that want to dump and have a quickie. It won't be dump too fiercely though.

JBmurc
05-06-2009, 06:46 PM
PEN holding quite well but the entitlement is a 1 for 6. Good luck in getting more.

Also, for you to note, the placement shares will be out after 10th June, so downside risk is possible for instos that want to dump and have a quickie. It won't be dump too fiercely though.

yeah thanks Soulm I for some reason thought it was on the the 3rd got my million shares so depending on if my accountant pulls finger or not I'll at least get 166,000 @ 2.8c + 41500 3c opts if I've got some extra cash prob try for 200k+50k opts
I'm very confident PEN will reward the faithful massively ,Obama sounds very pro nuclear Like I've said before PEN in time could well be the next PDN 5000% return etc

SCHUMACHER
18-06-2009, 08:03 AM
This should get a few excited..........funds now in place ...drilling to confirm JORC for Barber and Ross target 15 million /lb with total Lance project .The Company estimates exploration upside of 50-76mlb at and in between the 13 Wyoming project sites...all good SCHU

PENINSULA MINERALS LIMITED
Initiation – Uranium Production by Q1 2012
We are initiating coverage on Peninsula Minerals Limited (“Peninsula”, “PEN”, “Company”) with a Speculative Buy rating and a 6 month price target of 8.2cps. The Company is targeting uranium production of 1.5 million pounds per annum via In-Situ Recovery (“ISR”) mining from Q1 2012 from its low cost Lance projects in the USA. From 2017, additional uranium production of 3 million pounds per annum is planned at its Karoo projects in South Africa. Both the Lance and Karoo project areas have considerable exploration upside potential, which will be tested by drilling over the next few years. Peninsula is well placed to benefit from expected bullish sentiment towards uranium through its low cost, near term production in the USA and is funded for the next phase of development/appraisal work due to a $6.6m placement with an additional $4.4m from a rights issue, subject to shareholder approval. Lance Projects – Ticks in All the Boxes
• Low Cost, Near Term Production – The Company is targeting production of 1.5mlb uranium by Q1 2012 via ISR mining. With start-up costs of ~US$50m and opex of US$15/lb, payout could occur within 1.5 yrs of first production.
• Resource Definition Risk Mitigated by Historic Drilling - Peninsula has 13 projects with uranium mineralisation defined by 5,036 historical exploration holes. The two most advanced projects, Ross and Barber, will form the focus of the near term drilling program. The Company aims to define an initial JORC resource by Q2 2010, targeting 15mlb by December 2010.
• Concept Proven by ISR Pilot Plant - Peninsula’s Ross project in Wyoming was the site of an historic production pilot plant, which operated successfully for 6 months prior to shutdown in the wake of the Three Mile Island incident.
• Location Amenable to Uranium Mining - The Lance Projects are located in Wyoming, which currently hosts 55% of US uranium production. All production in Wyoming is from ISR, where permitting has recently been simplified, allowing for application reviews by the Nuclear Regulatory Commission within two years.
• ISR Considered Environmentally Friendly - ISR is considered a more environmentally friendly form of uranium mining as it has a minimal surface footprint and also minimises airborne contaminants. The site of the historic pilot plant was also fully rehabilitated, which should assist with permitting by Peninsula for its planned operations.
• Exploration Upside of 50-76mlb – The Company estimates exploration upside of 50-76mlb at and in between the 13 Wyoming project sites.
• Near Term Catalysts – There are several near term catalysts, including: metallurgical results from 2008 drill program; commencement of drilling at Ross/Barber; initial drill results; ongoing leasing activity and initial JORC resource in Q2 2010.
Karoo Projects – 150m lb U3O8 Exploration Potential Peninsula’s Karoo Projects are located in South Africa and comprise six sites, which the Company believes have potential for up to 150 million pounds (“mlb”) of U3O8. Three of the projects have historic drilling control of >1,000 holes with uranium grades averaging 1,200-1,400 parts per million (ppm) and molybdenum grades of up to 4,000ppm. The historic drilling done by Union Carbide and JCI identified a non-JORC resource of ~8mlb U3O

JBmurc
30-06-2009, 03:22 PM
Yeah Sch PEN at 8.2c is a good start here's the link to the full report really like the PEN website full of Imfo I see me an my mates shareholdings together aren't to far out of the top20 holders
I was talking with PEN company sec getting my late rights issue sorted asked him about the gold interest they have in Fiji sounds like their keen to drill some more holes but as the operater GEO had been quite on it over the last year with it's low cash base,PEN maybe going increase their interest...get some more idea on it's commercial able


http://www.peninsulaminerals.com.au/images/peninsul-134--oetei.pdf

Lego_Man
30-06-2009, 03:38 PM
I see me an my mates shareholdings together aren't to far out of the top20 holders


Let me know when you guys are planning to dump a big holding ;)

These prices look good as an entry point, ive been keeping an eye out for a while. 3c seems to be a solid support level.

JBmurc
01-07-2009, 09:31 AM
Let me know when you guys are planning to dump a big holding ;)

These prices look good as an entry point, ive been keeping an eye out for a while. 3c seems to be a solid support level.

Don't worry it won't be for at least a year or under 10c PEN like STX are my 2 long termers
make sure you checkout the PEN website the management's personal history's speaks volumes on PEN's Quality

JBmurc
02-07-2009, 11:09 AM
NON-RENOUNCEABLE ENTITLEMENT ISSUE
On 29 May 2009 Peninsula Minerals Limited (Company) announced a non-renounceable
entitlement issue of one (1) fully paid ordinary Share for every six (6) Shares held at an issue
price of 2.8 cents per Share to raise approximately $4,483,172 together with one (1) free
attaching Option for every four (4) new Shares allotted (Entitlement Issue). The free
attaching options are exercisable at 3 cents on or before 30 June 2012. The Company
intends to apply for quotation of these Options as soon as is practicable after completion
of the recent capital raising.
The Company wishes to advise that it has processed subscriptions from shareholders for
68,526,973 Shares (with 1 for 4 attaching options) to raise $1,918,755 under the Entitlement
Issue, which closed on 26 June 2009 (Closing Date).
In accordance with section 4.6 of the Prospectus dated 29 May 2009 (Prospectus), the
shortfall of 91,586,297 Shares (with 1 for 4 attaching options) will be placed at the
discretion of the Directors in consultation with the Lead Broker to the Offer, Hartleys Limited

ritchie
02-07-2009, 12:04 PM
could you plse explain in layman terms what this means......say if I was now thinking of buying some shares on the maqrkey.

Cheers

STRAT
02-07-2009, 12:19 PM
could you plse explain in layman terms what this means......say if I was now thinking of buying some shares on the maqrkey.

CheersThey have a few left over

ritchie
02-07-2009, 02:43 PM
What I mean is....can we now buy PEN with the attached options...or have I got it completley wrong. I copied the below.



In accordance with section 4.6 of the Prospectus dated 29 May 2009 (Prospectus), the
shortfall of 91,586,297 Shares (with 1 for 4 attaching options) will be placed at the
discretion of the Directors in consultation with the Lead Broker to the Offer, Hartleys Limited

moimoi
02-07-2009, 05:12 PM
Ritchie,

If your looking to get your hands on some of the 91mill remaining you need to get in touch with Hartleys...you'll need to be quick smart though...the shortfalls are normally placed within a couple of days to "sophisticated" investor clients. ;-)

cheers
Moi

JBmurc
06-07-2009, 12:14 PM
got my rights today sadly the PEN SP is now 2.8c an looking alot weaker on the back of the large Market falls ,think I might be buying some more cheap PEN an PENN soon
--Patience will reward--

JBmurc
06-07-2009, 07:24 PM
Great to see Gus the MD has taken up his rights entitlement of $83,000 from his existing holding rights -and is now with shareholders approval Gus wants to buy another $350,000

Now thats what I call confidence

sadly some other holders decided to put some selling pressure on PEN pushing the SP to 2.6c could well go lower ,can't believe the holders selling under 2.8c when they could have had well over 3c only last week.

impacman
07-07-2009, 04:06 AM
Great to see Gus the MD has taken up his rights entitlement of $83,000 from his existing holding rights -and is now with shareholders approval Gus wants to buy another $350,000

Now thats what I call confidence

sadly some other holders decided to put some selling pressure on PEN pushing the SP to 2.6c could well go lower ,can't believe the holders selling under 2.8c when they could have had well over 3c only last week.

Pretty silly from a LT perspective really but to be expected in these "uncertain times":D. Some very interesting discussion on the HC boards - it is unblievable how one minute all is rosey and then at the first sign of a good market retracement (not first sign or unexpected IMO) a number jump on the "sell, sell" bandwagon. May pan out to be a good strategy in that they may rebuy at much lower prices but the risk is they may not and in NZ there are potential tax issues, as well as broker fees all round. If you have bought for something that is going to happen in 2 years why sell at the first sign of volatility? Market psycology has been a real eye opener this year. Quite happy sitting on my PEN regardless.

impacman
07-07-2009, 06:36 PM
Pretty good recovery today on back of MD announcement yesterday and notice of full placement of initially undersubscribed placement portion. Definitely a few out there that see good LT value in this one.

JBmurc
07-07-2009, 07:40 PM
Pretty good recovery today on back of MD announcement yesterday and notice of full placement of initially undersubscribed placement portion. Definitely a few out there that see good LT value in this one.

Yeah is also a major plus to see them drilling sooner as well- 6 month Target 8c
Will be adding to my opt postion soon.

JBmurc
13-07-2009, 02:01 PM
Glad to have picked up 500,000 PENOA at .008c this morning with a few more hours of trading on the ASX left It's going be interesting to see if I can sell them at 1.7c giving me a nice 100% profit for the day on PENOA my best by far day sharetrade

ritchie
13-07-2009, 02:22 PM
explain why they are so hign when PEN is still only 2.9.....surley you are better off buying the heads

JBmurc
13-07-2009, 02:26 PM
Well it pretty simple really -Leverage- if I sold my 1mill PEN for 3c I'd have 30,000 If I could buy PENOA for an average of 1c I could then have an option to own 3mill shares at 2012 june 30 ex 3c- by which time we should have at least a 20c share price

-so if I hold only my 1mill PEN till 2012 at the same cost of holding the PENOA till ex date.@ a future est. S/P of 20c my 1mill will be worth $200,000 profit=$170,000

Do the same with the PENO 3mill 30,000 org cost + exercise price of 3c at 30-06-12 =$90,000+30,000=120,000
3mill of PEN at 20c =$600,000-extra cost of 90,000=510,000
Profit =480,000

So Holding PEN 170k profit holding PENO 480k profit-savy:)


So when these buyers pay 1.7c for PENOA what their saying is by 2012 june 30 I believe the head share price will be more than 4.7c which any PEN follower will tell you is it why more likely to be 20c +

soulman
13-07-2009, 05:20 PM
Was that you selling at 1.7 cents this afternoon. Great trade.

JBmurc
13-07-2009, 05:28 PM
Was that you selling at 1.7 cents this afternoon. Great trade.

Yep sure was got the low of the day then got the high of the day 112% profit for the day best day trade % wise I've ever made

Now I just need it to fall back to 1c and I'll load up for the long-term

Crypto Crude
13-07-2009, 09:12 PM
congratulations to you for today JBmurc...
:cool:
.^sc

JBmurc
14-07-2009, 09:29 AM
congratulations to you for today JBmurc...
:cool:
.^sc

yeah thanks mate bout time you got a few PEN going be great long termer that could well surprise in the short term U308 in USA drilling starting in a week or so recent SPP 100% take-up MD also took up 430k worth

I see the DOW up 2.2% should be a good day on the ASX got abit of cash needing reinvested better do it soon

JBmurc
16-07-2009, 09:35 AM
Canary Events Uranium Investor Forum: July 09: Warwick Grigor, Peninsula Minerals
Wed, 15 Jul 2009 02:20PM


http://www.brr.com.au/event/58833/canary-events-uranium-investor-forum-july-09-warwick-grigor-peninsula-minerals


Now I've heard 1mill pd of U308 is worth round the same as 1mill oz of gold reserve

PEN is looking at having a starting JORC of 8-10m mid next yr futher ahead we could well see reserves 10x that amount muti-billion dollar resource? time will reward

Crypto Crude
16-07-2009, 02:04 PM
yes...
When I sell WCUO, im looking to buy either HTM or PEN...
definately one or the other...

ive got to have 10% diversified...
;)
.^sc

JBmurc
16-07-2009, 02:54 PM
yes...
When I sell WCUO, im looking to buy either HTM or PEN...
definately one or the other...

ive got to have 10% diversified...
;)
.^sc

PEN will blow the doors off HTM imho plus the fact PEN have 13.5mill cash on hand HTM prob round 200k NZD

Crypto Crude
16-07-2009, 03:07 PM
JBmurc,
how about we have a little competition...
If HTM outperforms PEN by Jan 2010 then you come to the chch sharetraders meeting after that date and shout me a few beers...
and if PEN outperforms HTM then I will come to Queenstown with some of the gang, and I will shout you...
?
anyway,
it would be a good excuse to meet you...
:cool:
.^sc

JBmurc
16-07-2009, 03:20 PM
JBmurc,
how about we have a little competition...
If HTM outperforms PEN by Jan 2010 then you come to the chch sharetraders meeting after that date and shout me a few beers...
and if PEN outperforms HTM then I will come to Queenstown with some of the gang, and I will shout you...
?
anyway,
it would be a good excuse to meet you...
:cool:
.^sc

Sounds fair to me bring your golf clubs

Crypto Crude
16-07-2009, 04:28 PM
Golf?
what!...
I aint no good at golf...
how about table tennis...

At worst case I could caddy Bermuda...
hehehehe... I guess I could give it a go...

HTM buyers 1.8c...
PEN buyers 3c...
lets go on that...
:cool:
.^sc

JBmurc
16-07-2009, 04:55 PM
Golf?
what!...
I aint no good at golf...
how about table tennis...

At worst case I could caddy Bermuda...
hehehehe... I guess I could give it a go...

HTM buyers 1.8c...
PEN buyers 3c...
lets go on that...
:cool:
.^sc

sounds good if both the shares are up massively it could be the casino

SCHUMACHER
21-07-2009, 12:52 PM
LANCE PROJECT: CORE TESTS RETURN POSITIVE RESULTS & DRILLING RE-COMMENCES
Highlights
 Excellent permeability and porosity results achieved from drill core tests
confirm historic testing and the applicability of ISR mining methods
 Drilling re-commences at the Lance Projects targeting extensions of
mineralisation at Ross and Barber
Summary
Peninsula Minerals Limited (Peninsula) is pleased to announce the results of the tests from core
samples collected during the Nov/Dec 2008 drill program at the Ross Project, part of the Lance
projects located in Wyoming, USA (Lance Projects). Independent consultants, World Industrial
Minerals (WIM) have reviewed the results from 24 core plugs and concluded that they
demonstrate that the uranium hosting sandstones are highly permeable and have excellent
porosities for uranium extraction using In-situ recovery (ISR).
The 2009/10 drill program commenced on the 20th of July targeting extensions of historic
mineralisation at the Ross project; planned to be the first production centre. Drilling at the
Barber project, planned as the second production centre, will begin in September 2009 also
targeting extensions of the historic mineralisation.
Core Tests
Core Lab, a reservoir characterisation laboratory based in Denver, Colorado, has tested 24
core plugs taken from the four holes cored at Ross in 2008 for porosity, permeability and
density. The samples taken from the uranium hosting sandstone demonstrated very high
permeability’s and porosities, averaging 2,400 millidarcy’s (mD) 1 and 42% porosity. The density
determinations will be utilised in resource estimations planned for 2010.
High porosity and permeability values in uranium-enriched sandstones are necessary for the
efficient operation of ISR uranium recovery operations. Sandstone permeability’s in excess of
500 mD are acceptable in the ISR industry2.
Porosities in excess of 30% are very favourable for ISR recovery of uranium.

The results from the porosity and permeability tests (Table 1) indicate that all of the sandstone
units exceed 40% porosity and 1000 mD permeability. Some of the core plugs comprised of
sandstone with shale clasts returned lower permeability results as expected when the shale
was the dominant sampled lithology. In contrast, the sandstone matrix in these conglomeratic
zones is coarser grained than other sandstone units and has very high permeabilities as
evidenced by sample 3 from hole RMRD0004 which returned an exceptional permeability of
5,898 mD.
The porosity and permeability results compare very well with the historic testing conducted by
the NuBeth JV in the Ross area in 1976 and 1977, adding confidence to its accuracy and to
Peninsula’s goal of developing the Lance ISR Project.
The mineralised sandstone units commonly contain thin (one foot or less thick) splits of siltstone
and shale with low permeability’s. Hydrologic testing by the NuBeth JV showed that these
discontinuous shale splits do not significantly affect the permeability of the sand units, and
tend to increase the ratio of horizontal to vertical permeability, which is advantageous in
helping control the flow of solution during ISR mining. This is typical of uraniferous sandstone
units in Wyoming. The permeability of the sandstones tested, commonly over 2,000 mD (and up
to over 5,000 mD) meets or exceeds that of nearby ISR Projects currently operating or being
developed.
Additional tests underway include chemical assay of the core and bottle roll tests to determine
potential recoveries using the solutions that would likely be used in the ISR operation. The bottle
roll tests will determine potential metallurgical recoveries and allow further comparison with
historical testing and the Peninsula scoping study.
The high quality data derived from these tests will aid in the strategic positioning of “Push-Pull”
aquifer pump tests and subsequent recovery tests.
Drilling
The 2009/10 drill programme has commenced at the advanced Ross project with drilling at
Barber expected to begin in September. The drilling will be focussed on extending areas of
known mineralisation. The goal of the company is delineate an initial JORC compatible
resource estimate by mid 2010 that would give credence to Peninsula’s goal to ultimately
delineate:
 6.4-9.5 million short tons @ 500-700ppm eU3O8 for 8-12 million lb U3O8 at Ross; and
 2.6-3.9 million short tons @ 700-900ppm eU3O8 for 4-6 million lb U3O8 at Barber.
Conclusions
The permeability and porosity tests conducted on core collected in 2008 support the
results contained within the data package and confirm (assuming the results are
representative of the aquifer) that the uranium mineralised sandstones at the Lance
Projects are amenable to ISR extraction.
The 2009/10 drill programme is aimed at delineating an initial JORC resource planned
for completion in mid 2010

brettdale
22-07-2009, 12:40 PM
Nice and steady today, up to 3, more buyers than sellers, volume good. Hoping for a late surge later on today.

brettdale
24-07-2009, 06:04 PM
Was PEN being manipulated this week???

Twice this week, the price dropped in the last second of trading, after holding thru all day on big volume.

I dont mind stocks going thru a rough patch, I just dont like stocks being played, Im out on Monday.

shasta
24-07-2009, 06:17 PM
Was PEN being manipulated this week???

Twice this week, the price dropped in the last second of trading, after holding thru all day on big volume.

I dont mind stocks going thru a rough patch, I just dont like stocks being played, Im out on Monday.

Brettdale

Dont be fooled, it's very normal for the ASX to start strong, drift around lunchtime, pick up a bit early arvo & slip off near close.

You should be looking to buy shares near the close & sell them into the early morning rush ;)

With it being a Friday, you will have day traders not wanting there positions left open over the weekend (in case the DOW drops it's pants)

PEN is a great U company, & given time will be re-rated as it nears production. Very minimal sovereign risk as it's in the USA.

PEN is my pick of the currently non producing U companies :rolleyes:

JBmurc
24-07-2009, 06:50 PM
Was PEN being manipulated this week???

Twice this week, the price dropped in the last second of trading, after holding thru all day on big volume.

I dont mind stocks going thru a rough patch, I just dont like stocks being played, Im out on Monday.

PEN going from 2.9 to 3.1 an back isn't excatly mass manipulation
just wait to PEN's JORC comes out watch the buyer munipulate the price through the roof
sell if you want did wonders for STX S/P 22c atm

brettdale
24-07-2009, 07:27 PM
Brettdale

Dont be fooled, it's very normal for the ASX to start strong, drift around lunchtime, pick up a bit early arvo & slip off near close.

You should be looking to buy shares near the close & sell them into the early morning rush ;)

With it being a Friday, you will have day traders not wanting there positions left open over the weekend (in case the DOW drops it's pants)

PEN is a great U company, & given time will be re-rated as it nears production. Very minimal sovereign risk as it's in the USA.

PEN is my pick of the currently non producing U companies :rolleyes:

Is it normal for a stock to held its price all day, despite big volume and then in the last second drop?

It did this twice this week.

shasta
24-07-2009, 08:40 PM
Is it normal for a stock to held its price all day, despite big volume and then in the last second drop?

It did this twice this week.

Well thats not a bad sign if it holds steady...

One of my holdings BPT can have multiple good anns come out & still not move! :confused:

Unless the drop is 20% + i'd consider it normal market "noise".

Nothing for you to worry about, & i wouldn't sell on that basis alone.

Xerof
24-07-2009, 08:48 PM
Brettdale,

I am clearly not as tolerant Shasta and JB, and have just flamed you accordingly over on the other channel. I won't do it here as I'd hate to have no outlet for venting of the spleen....

Just take note of what peeps are saying, and realise that markets move in strange ways for all different types of reasons, and that shares are prone to go down as well as up, and usually for seemingly illogical reasons.

Instant gratification/profit is extremely elusive, especially with junior miners on the ASX

You've clearly worked hard this week, so take a couple of days off

brettdale
27-07-2009, 01:59 PM
Glad I had a change of heart, PEN doing well today.

Lego_Man
27-07-2009, 02:04 PM
Glad I had a change of heart, PEN doing well today.

Time for a big breakout. I picked up some PENO today in anticipation of a big swing over the coming months.

soulman
27-07-2009, 02:19 PM
Glad I had a change of heart, PEN doing well today.

So you are still in? I wished I am still in (sold at 3.3 cents) because if the price hold, it could be 3.5 tomorrow.

brettdale
27-07-2009, 02:50 PM
So you are still in? I wished I am still in (sold at 3.3 cents) because if the price hold, it could be 3.5 tomorrow.

Yep still in, havent sold, will see tomorrow, around 3.5 will be my out price.

JBmurc
27-07-2009, 05:17 PM
Yep still in, havent sold, will see tomorrow, around 3.5 will be my out price.

yeah great Idea just like the investors that sold PDN at sub 70c to then watch it in time reach $10

soulman
27-07-2009, 05:27 PM
Looks like PEN hold today closing at 3.3 cents. 3.6 possible tomorrow if offshore market doesn't tank.

JB, that's the long-term view of PEN but the price has been set for PEN short-term due to the cap raising.

I will look to re-enter when the price drop closer to 3 cents. My sell order went through today and I have a recent habit of selling too soon. So, a surge to 3.6 cents is a near certainty.

Some of the recent cap raising all have about 20 to 30 percent premium, with the exception of KZL, AWC, BSL and OST, all having BIG, BIG, BIG premium.

brettdale
28-07-2009, 09:17 PM
3.4 finish today, big volume again.

JBmurc
28-07-2009, 09:32 PM
3.4 finish today, big volume again.

you might get your sell price tomorrow

brettdale
28-07-2009, 09:47 PM
you might get your sell price tomorrow

who knows? I will be out and about tomorrow and wont be checking the markets for most of the day.

brettdale
29-07-2009, 05:57 PM
3.6 finish.

JBmurc
29-07-2009, 06:01 PM
3.6 finish.

you out then brett

brettdale
29-07-2009, 09:10 PM
you out then brett

Still in, believe it or not, I was out for most of the day, will have to keep a real close eye on it tomorrow.

Thumpa
29-07-2009, 10:11 PM
http://i167.photobucket.com/albums/u150/soundzgoodgood/PEN7.png

COLIN
29-07-2009, 10:48 PM
Have picked up the scent on this one, particularly the options possibilities. Tell me: why is there more apparent excitement about PENOA than PENO? I appreciate that PENO has a much earlier exercise date but it is already in the money and not far ahead of the heads.

tobo
30-07-2009, 06:17 AM
perhaps because big longterm outlook for PENOA whereas PENO maybe more influenced by short term volatility?

Tobo
hold

tobo
30-07-2009, 06:21 AM
Brettdale, I do not see any sell signals in thumpa's chart

ToBo
holding

STRAT
30-07-2009, 07:34 AM
Brettdale, I do not see any sell signals in thumpa's chart

ToBo
holdingAgree with you Tobo. In fact the opposite. PEN has been on the rise for near on two months and is looking stronger than ever.

STRAT
30-07-2009, 07:40 AM
Have picked up the scent on this one, particularly the options possibilities. Tell me: why is there more apparent excitement about PENOA than PENO? I appreciate that PENO has a much earlier exercise date but it is already in the money and not far ahead of the heads.Hi Colin.
PENOA ex 3.0c
PENO ex 10.0c

JBmurc
30-07-2009, 09:31 AM
Yeah the PENO are unlikely to be in the money at 10c by next year still you never know
the PENOA have be very nice to me of late have made over $8,000 day trading them will look to take a long term hold if they come back down again ....
Still holding PEN @ 1.6c

Lego_Man
30-07-2009, 09:47 AM
Yeah the PENO are unlikely to be in the money at 10c by next year still you never know

They dont have to which is good. I have put some money into them - as the SP leaves PENOA in the dust, PENO will be an increasingly popular option. Another multibagger to add to your collection.

JBmurc
30-07-2009, 10:00 AM
They dont have to which is good. I have put some money into them - as the SP leaves PENOA in the dust, PENO will be an increasingly popular option. Another multibagger to add to your collection.

--????? they could well expire worthless if PEN is less than 10c

you understand on the 30 june next year PENO will have to be converted at 10c each the current head share price is 3.6c some 76% less than they need to be ....or say the head go up 200% from today they will be round 11c

so if you paid 1c for every PENO then the total converted cost will be 11c ea so to make a muti-bagger from the PENO you need the PEN SP by the 30 june to be alot higher than 11c

PENOA are far better buying with a cost of only 3c with 36 months to run before ex date

STRAT
30-07-2009, 10:25 AM
They dont have to which is good. I have put some money into them - as the SP leaves PENOA in the dust, PENO will be an increasingly popular option. Another multibagger to add to your collection.I dont get this either :confused:

COLIN
30-07-2009, 12:52 PM
Hi Colin.
PENOA ex 3.0c
PENO ex 10.0c

Thanks, Strat. For some unknown reason I was labouring under the impression that they both had an exercise price of 3c.

As an aside, it would be helpful if the exercise price of options was included in the brokers' buy/sell quotes - i.e. in the way that exercise dates are shown. (I use DB online - are other brokers different?)

STRAT
30-07-2009, 12:56 PM
Thanks, Strat. For some unknown reason I was labouring under the impression that they both had an exercise price of 3c.

As an aside, it would be helpful if the exercise price of options was included in the brokers' buy/sell quotes - i.e. in the way that exercise dates are shown. (I use DB online - are other brokers different?)I use DB too Colin. I agree wading back through anns is a pain in the arse. I actually put it to Julian on the DB thread but nothing has eventuated. Perhaps if we all make noise about it., something will ;)

Ive been using http://markets.smh.com.au/apps/qt/quote.ac;jsessionid=FFAC96486A15056F52CDB9708B639F 7E?code=vpe&section=securities&submit=Go&submit=

but have recently dicovered ( Thanks Steve Fleming ) they are not always accurate :(

shasta
30-07-2009, 01:06 PM
I use DB too Colin. I agree wading back through anns is a pain in the arse. I actually put it to Julian on the DB thread but nothing has eventuated. Perhaps if we all make noise about it., something will ;)

Ive been using http://markets.smh.com.au/apps/qt/quote.ac;jsessionid=FFAC96486A15056F52CDB9708B639F 7E?code=vpe&section=securities&submit=Go&submit=

but have recently dicovered ( Thanks Steve Fleming ) they are not always accurate :(

Strat

For finding details on options, expiry dates & strike prices i use

http://tradingroom.com.au/apps/qt/index.ac

Very accurate

STRAT
30-07-2009, 01:23 PM
Strat

For finding details on options, expiry dates & strike prices i use

http://tradingroom.com.au/apps/qt/index.ac

Very accurateThanks Shasta. Just tested a few and it seems this site rounds up to the nearest cent as well. AVBOB (1.5c ) but the site says 2c

brettdale
31-07-2009, 11:40 AM
PEN going crazy in early trading 15 million shares already traded in first 40 minutes.

JBmurc
31-07-2009, 11:52 AM
PEN going crazy in early trading 15 million shares already traded in first 40 minutes.

It sure is 92mill shares traded so far this week should break 100mill vol for the week 8c here we come ,major buyers getting in before the drill results spark even more interest

My predictions for PEN 7c-8c by Xmas

15c+ in 2010

brettdale
31-07-2009, 11:59 AM
We live in hope, Im guessing 4 cents by end of today.

brettdale
31-07-2009, 12:28 PM
Just hit four cents.

JBmurc
31-07-2009, 12:38 PM
Just hit four cents.

making 4c easy could well be the biggest volume day for PEN so far this year of 34m could well top 40mill 4.2c-4.4c smoking

Thumpa
31-07-2009, 12:44 PM
Brettdale needs to shout beers after everyone talked him down from the ledge last week. :)

JBmurc
31-07-2009, 01:13 PM
JBmurc,
how about we have a little competition...
If HTM outperforms PEN by Jan 2010 then you come to the chch sharetraders meeting after that date and shout me a few beers...
and if PEN outperforms HTM then I will come to Queenstown with some of the gang, and I will shout you...
?
anyway,
it would be a good excuse to meet you...
:cool:
.^sc

Hope you saving your change shrewdy PEN looks like it may be getting me some Qutown Heinekens

PEN=4c HTM=1.6c

STRAT
31-07-2009, 02:16 PM
Big volume but the price aint moving much. Seems there are almost as many punters who want out as want in and the premium on the options is a tad rich to boot. Wouldnt be surprised to see it close dead even unless these sellers start to dry up

JBmurc
31-07-2009, 02:27 PM
Big volume but the price aint moving much. Seems there are almost as many punters who want out as want in and the premium on the options is a tad rich to boot. Wouldnt be surprised to see it close dead even unless these sellers start to dry up

Think theirs alot of short term traders taking their 20%-30% profits before the weekend

brettdale
31-07-2009, 08:10 PM
Brettdale needs to shout beers after everyone talked him down from the ledge last week. :)

LOL, still holding, happy with 3.8 finish, looking forward to see what happens next week, and waiting for an annoucement.

JBmurc
03-08-2009, 10:12 AM
Buysellsignals - rating buy




http://www.buysellsignals.net/BuySellSignals/report/Australia/Stock/PDF/Daily/Australia_pdf_1663.pdf

brettdale
03-08-2009, 11:11 AM
Has hit four cents, a buy order at 5 went thru on open?

Why would you buy at 5?

brettdale
03-08-2009, 11:22 AM
The high of the day so far has been 4c

Yep, but there was a buy order for 800K on pre open.

Which has been explained to me over on hotcopper.

brettdale
04-08-2009, 11:10 AM
:-)


http://asx.com.au/asxpdf/20090804/pdf/31jxpdz716q5pf.pdf

ritchie
05-08-2009, 12:01 PM
A question plse.

Why hasnt the share price gone up after that announcement yesterday.....and please dont reply with the samo....its already been taken into consideration re the share price.....

Thinking of accumulating a few.....thanks

impacman
05-08-2009, 02:17 PM
If we could answer that one accurately we would be set for life:D I suspect it is short term traders profit taking (T +3 perhaps). The other is that it wasn't really startling news - just a little more confirmation of resource potential. Personally if you are accumulating i wouldn't worry about it. I suspect the traders will ensure this is volatile for some time yet - thats what happens if you play with the penny dreadfuls!:)

Disc: Hold for LT

SCHUMACHER
06-08-2009, 02:06 PM
Summary
takenfrom another site.....cheers SCHU

22 May 2008
4 stacked roll fronts
Ross: avg 13ft @ 0.05-0.06% for a total of 6-8 million lbs
Lance target: 33-53 million lbs

7 Jul 2008 - After independent review, World Industrial Minerals revises to:

22 stacked roll fronts identified
Lance target: 50-76 million lbs
Ross: avg 13ft @ 0.05-0.07% for a total of 8-12 million lbs
Barber: avg ?ft @ 0.07-0.09% for a total of 4-6 million lbs

1 Oct 2008 - First drilling update (2-3 weeks after commencement):

Interval of 7ft @ 1490ppm returned from RMR0006
Best grade of 1ft @ 4800ppm within above interval

14 Oct 2008 - Second drilling update (note this is only another 2 weeks ;-):

Best grade of 4.5ft @ 1210ppm from RMRD0003
Interval of 10.5ft @ 700ppm from RMR0015

3 Nov 2008 - Drilling program successfully concluded:

21 holes exceed a combined grade thickness product of 0.3 ft % Uranium
Mineralisation encountered in all holes

Global Financial Crisis stopped drilling program

21 Jul 2009 - Positive Core Tests and drilling at Ross re-commences:

Excellent permeability and porosity results achieved from tests of drill cores from 2008.
Drilling re-commences at the Lance Projects targetting extensions of mineralisation at Ross and Barber

4 Aug 2009 - High Grade Uranium Intersections Expand Known Mineralisation at Ross Project

Drilling of 11 holes completed
Drilling has expanded area of known mineralisation
Best grade of 8.5ft @ 1000ppm from hole RMR0026
Best interval of 11ft @ 700ppm from hole RMR0024

"In addition, Peninsula is pleased to report that the drilling completed to date has been successful in expanding the area of known mineralisation and is expected to incrementally increase the uranium endowment at Ross. The current program will continue to step out into areas of wider drill spacing and areas where there is potential to expand the area of the high grade zones."

"Drilling at the Barber project ... will begin in September 2009 also targetting extensions of the historic mineralisation."

If you look at the track record, there's been a steady flow of successes and upgrades and the more the company drills the more Uranium they discover. What other Uranium producer hits mineralisation every time they drill? This is PEN's big advantage, the historical data means they already know where to drill so the hit rate should be expected to be extremely high. When Gus says he expects to increase the uranium endowment at Ross on the back of drilling results that show it's already increasing, I think there's good cause to believe him.

Based on the track record with drilling updates, I'm expecting the next one around 19 August.

impacman
12-08-2009, 01:51 PM
Big moves so far today - from 3.6 to 4.4 on 27m volume. All good for holders - maybe Hartley's have go this one right:D

Cheers,

shasta
12-08-2009, 08:51 PM
Big moves so far today - from 3.6 to 4.4 on 27m volume. All good for holders - maybe Hartley's have go this one right:D

Cheers,

86m turnover & the classic we know "nothing" speeding ticket.

Watching for SSH notices tomorrow ;)

Huang Chung
12-08-2009, 09:56 PM
Noticed that nobody holds more than 5% of PEN Shasta.

Giralia offshoot Pacmag (PMH) (which by the way has its own US Uranium/Germanium projects) is the second largest PEN shareholder with just under 4% of the stock. Giralia is the 9th largest shareholder in PEN, with a holding of around 1.7%. (And to make things just a bit more Tasmanian, GIR hold just over 10% of PMH).

So, I'm also riding this one.....indirectly.

steve fleming
12-08-2009, 10:03 PM
Noticed that nobody holds more than 5% of PEN Shasta.

Giralia offshoot Pacmag (PMH) (which by the way has its own US Uranium/Germanium projects) is the second largest PEN shareholder with just under 4% of the stock. Giralia is the 9th largest shareholder in PEN, with a holding of around 1.7%. (And to make things just a bit more Tasmanian, GIR hold just over 10% of PMH).

So, I'm also riding this one.....indirectly.

Hi HC....i thought that PacMag actually sold all its Uranium properties to PEN a few years ago??....thats how they ended up with their PEN holding...then they distributed some of these PEN shares to their own shareholders, so that's how i imagine GIR became a shareholder.

It is these ex-PacMAg assets in the US that PEN are currently advancing to production.

Huang Chung
12-08-2009, 11:08 PM
Hi HC....i thought that PacMag actually sold all its Uranium properties to PEN a few years ago??....thats how they ended up with their PEN holding...then they distributed some of these PEN shares to their own shareholders, so that's how i imagine GIR became a shareholder.

It is these ex-PacMAg assets in the US that PEN are currently advancing to production.

Hi Steve

Sentinal Project is PMH's main uranium/germanian/moly project in North Dakota (Ann Mason is copper/moly, not uranium....my mistake).

PMH released this only today:

http://www.stocknessmonster.com/news-item?S=PMH&E=ASX&N=456280

steve fleming
12-08-2009, 11:19 PM
Hi Steve

Sentinal Project is PMH's main uranium/germanian/moly project in North Dakota (Ann Mason is copper/moly, not uranium....my mistake).

PMH released this only today:

http://www.stocknessmonster.com/news-item?S=PMH&E=ASX&N=456280

Ok...thanks... PAgMag must have kept some of their other U assets when they divested their Wyoming properties to PEN.

This from May 2007:

"PacMag Metals Limited ("PacMag") is pleased to advise that shareholders of Peninsula Minerals Limited ("Peninsula") have approved the acquisition by Peninsula of PM Prospecting Pty Ltd, a wholly owned subsidiary of PacMag, at their General Meeting held on 21 May 2007.

PM Prospecting Pty Ltd and its subsidiaries ("PM Group") hold the rights to explore, mine and treat uranium on various mining and exploration tenements located in Western Australia and Wyoming in the USA, as well as a joint venture interest in the "Blue Rose Olary" tenement in South Australia.

PacMag will receive 200 million Peninsula fully paid ordinary shares as consideration, and $200,000 cash for the divestment of the PM Group.
PacMag intends to distribute at least 80% (approximately 160 million) of the Peninsula consideration shares in-specie (free) to holders of PacMag ordinary shares (ASX:PMH), subject to shareholder approval.

impacman
13-08-2009, 08:43 AM
86m turnover & the classic we know "nothing" speeding ticket.

Watching for SSH notices tomorrow ;)

Yes I saw their response this morning and thought the same. Got to be something in the wind you would think:rolleyes:

JBmurc
25-08-2009, 11:58 AM
INCREASED LAND HOLDING AT LANCE PROJECTS IN WYOMING
Highlights
 New ground strengthens control over Ross and Barber Production Centres
 Peninsula now holds title over 11 of the 13 Project Areas at Lance
 New ground contains historic uranium mineralisation
 Newly acquired ground hosts 1,031 historic drill holes
 Best intercept is 7.5ft @ 2,520ppm eU3O8 from SPD-202 at Barber
 Best intercept is 16ft @ 3,300ppm eU3O8 from SP-66V at Ross
Summary
Peninsula Minerals Limited (Peninsula) is pleased to announce that the Mineral Rights
acquisition program has secured a further 6,700 acres in land access and 7,600 acres with
mineral title at the Lance Projects in Wyoming, USA (Lance Projects). Peninsula now has
mineral rights and/or surface access rights over a combined land holding of 94.7km2
(23,400 acres). This represents an increase of 67% or 9,359 acres since January 2009.
Peninsula continues to acquire title over additional land with negotiations underway on
further strategic holdings.
Executive Chairman Gus Simpson said “The Company is very pleased to now hold title over
eleven of the thirteen project areas and to have strengthened control over the initial
production centres. This is another important milestone for Peninsula as it advances its
development ambitions for the Lance uranium projects“.

JBmurc
28-08-2009, 02:34 PM
MET TESTING CONFIRMS URANIUM EXTRACTION AT LANCE PROJECT
Highlights
 Metallurgical tests demonstrate the amenability of uranium mineralisation at
Lance to ISR extraction
 Recoveries of 75-88% at upper end for Wyoming ISR operations
Summary
Peninsula Minerals Limited is pleased to report that the results of bottle roll tests of core from
the 2008 drilling at the Ross Project area, which is planned to be the first production unit, have
returned very favourable results.
The significance of these results is that the solution (lixivant) used in the testing is the same as
the proposed lixivant for the future In-Situ Recovery (ISR) operation at the Lance Projects and is
the same as the one successfully used at the pilot plant in 1978 and 1979.
The proposed lixivant for the ISR operation at Lance consists predominantly of a simple sodium
bicarbonate and Hydrogen Peroxide solution.
Executive Chairman Gus Simpson said “These results demonstrate that uranium can be
successfully extracted at the project using a benign solution common to current ISR
operations”.

JBmurc
01-09-2009, 06:47 PM
-Up 14.2% today up .6c to 4.8c hoping holders are enjoying the ride I know I am buying the bulk of my 800k holding at 1.6c


MET TESTING CONFIRMS URANIUM EXTRACTION AT LANCE PROJECT
Highlights
 Metallurgical tests demonstrate the amenability of uranium mineralisation at
Lance to ISR extraction
 Recoveries of 75-88% at upper end for Wyoming ISR operations
Summary
Peninsula Minerals Limited is pleased to report that the results of bottle roll tests of core from
the 2008 drilling at the Ross Project area, which is planned to be the first production unit, have
returned very favourable results.
The significance of these results is that the solution (lixivant) used in the testing is the same as
the proposed lixivant for the future In-Situ Recovery (ISR) operation at the Lance Projects and is
the same as the one successfully used at the pilot plant in 1978 and 1979.
The proposed lixivant for the ISR operation at Lance consists predominantly of a simple sodium
bicarbonate and Hydrogen Peroxide solution.
Executive Chairman Gus Simpson said “These results demonstrate that uranium can be
successfully extracted at the project using a benign solution common to current ISR
operations”.
Core Testing Results¹
Samples of both high grade and low grade material were submitted for testing.
Sample 1: High Grade Core from RMRD003, 1203ppm (the target mineral zone) U3O8
This core sample had a 75.60% recovery, which is at the upper end of typical ISR range of
recoveries (65% – 80%).
Sample 2: Low Grade Core from RMRD0003 245ppm (the low grade halo surrounding the
targeted mineral zone) U3O8
This core sample had an 87.62% recovery which is considered high for typical ISR recovery.

denpal
05-09-2009, 07:27 PM
great ann. on Friday, very exciting news re getting hold of old drill database plus news of +27% disequilibrium meaning ppm will be upgraded. I expect a good week next week once this news is digested.

COLIN
09-09-2009, 08:44 PM
Well, well, I see that my (pitifully small) dalliance with PENOA has yielded over 50% so far (bought end July). Why was I so timid....................!?

ritchie
10-09-2009, 12:05 PM
Same Colin...go you good thing.

I must say some people put the shyte into Hot Copper....but there are some real good posters over there with a wealth of information....you take the rampers for what they are.

POSSUM THE CAT
10-09-2009, 01:21 PM
Ritchie Who you think of as a good poster others may think of a blatant ramper we had one on here that was also a moderator on hot copper. You either thougt of him as gods gift to sharetraders or the most self interested bullshyte artist that do anything to promote the shares he was interested in. This is my personal opinion

impacman
10-09-2009, 01:31 PM
Regardless PEN is motoring just watched it go from 5.7 tp 5.9 on DB over only a couple of minutes. Up .8c for the day so far. Man in the space of just writing to this point it has gone up another .1c - 6.0c. Gotta like that!:D

tobo
10-09-2009, 01:47 PM
Yeah, Ive been into PEN since a couple of years ago, averaged down because I believed in the FA, and then bought more last week (averaged up to do so), so am feeling pleased. Long way to go yet.

I can't be dipping in and out as this is an investment for me, but at some point (eventually) will have to watch for it to run out of steam (TA).

Long live American Air Conditioning

ritchie
10-09-2009, 08:00 PM
Possum...go and read the PEN thread and you will see what I mean....thats all I will say

JBmurc
18-09-2009, 06:50 PM
PENINSULA SECURES A$50,000,000 EQUITY LINE FACILITY
Peninsula Minerals Limited (Peninsula) is pleased to announce that it has put in place a
A$50,000,000 Equity Line Facility (Facility) with YA Global Master SPV Ltd (YA Global), an
investment fund managed by US-based Yorkville Advisors, LLC.
Executive Chairman Mr. Gus Simpson stated, “Peninsula is pleased to put this facility in place
with YA Global as it will underpin the development of the projects in Wyoming and add to
Peninsula’s funding flexibility without limiting its capacity to consider all options as and when
they materialize”.
The Facility is provided in three tranches, with A$15,000,000 available for periodic draw-downs
on activation, a further A$15,000,000 available on the delineation of a JORC resource of
10,000,000 lbs of U3O8 and another A$20,000,000 available on the completion of a (Bankable)
Feasibility Study.
Under the terms of the Facility, Peninsula may, at its discretion, over the next 60 months (5 yrs),
draw down up to A$500,000 in any 10 trading day period (Advance) enabling it access to
exploration and development funding with timing and price at the discretion of Peninsula.
While Peninsula has sufficient funds to advance its projects in the near term, under the current
development scenario, this facility can take the company through to production at its Ross
and Barber projects. With the reduced availability and increased cost of project debt the
ability to move to production on a non-debt basis may prove to be a preferred option for
Peninsula.
An activation fee of 1% in cash or shares will be payable prior to the initial draw-down of each
tranche and a commission of 5% of each draw down will be payable by Peninsula to YA
Global at the time of issue of the Shares. Shares issued to YA Global will be priced at the lowest
daily volume weighted average price (VWAP) of shares traded on each of the 10 trading days
which follow an Advance notice by Peninsula.
Up to thirty six million unlisted three year options will be issued to YA Global on the following
terms:

marknz88
18-09-2009, 08:01 PM
Bit of a hoot reaction from the market in regards to this announcement.

Not sure if it has anything to do with YA Globals repuation.

What I do like is how PEN bolded 'at its discretion' so hopefully this credit line will be 'a use at last resort scenario'

We will see what Monday brings :)

Huang Chung
24-09-2009, 07:46 PM
Believe it or not, I've only just started looking seriously at PEN....how remiss of me.

Having had a fairly steady rise, do people think these high 4's are an alright price to pay, or wait for a pullback?

tobo
24-09-2009, 08:49 PM
under 5c is the pullback, although a couple of people on HC think it might fall lower. (They are in the minority)

impacman
29-09-2009, 08:01 PM
New Hartley's report hot off the press. Looks good and has a 25% (approx) increase in 6 month target. Hopefully link works.

https://secure.hartleys.com.au/images/upload/PEN_External_20090929.pdf

marknz88
30-09-2009, 10:21 PM
nice volume (largest volume in over a year) and 22% increase today. Lets hope she can continue up and away from the 5c range over the coming weeks.

tobo
01-10-2009, 05:53 AM
ha ha, that's funny - Hartleys say 25% in 6 months,
we get 22% in 1 day,
only 3% to go...
I don't thinks so

CAM
01-10-2009, 07:34 AM
Interesting Uranium article

ARE the 100 or so exploration stocks listed on the ASX that declare uranium to be part or all their hunt for a bigger future living in dreamland?

http://www.theage.com.au/business/uranium-hunt-could-have-sour-fallout-20090929-gb5g.html

marknz88
01-10-2009, 09:59 AM
ha ha, that's funny - Hartleys say 25% in 6 months,
we get 22% in 1 day,
only 3% to go...
I don't thinks so

Hartleys was actually saying a 100% increase in 6 months (10c target). Hartleys raised their target in the new report from 8.xc to 10 (~25% increase)

I expect a retrace today however just like last time we pushed up to 6c.

shasta
01-10-2009, 12:41 PM
Hartleys was actually saying a 100% increase in 6 months (10c target). Hartleys raised their target in the new report from 8.xc to 10 (~25% increase)

I expect a retrace today however just like last time we pushed up to 6c.

U308 has also dropped $2.50/lb down to $US42.00/lb, this will have a flow on effect for Uranium producers/near term producers

JBmurc
06-10-2009, 08:27 AM
PEN = EV $3.65 now that would be a nice SP LOL

Investopedia explains Enterprise Value - EV
Think of enterprise value as the theoretical takeover price. In the event of a buyout, an acquirer would have to take on the company's debt, but would pocket its cash. EV differs significantly from simple market capitalization in several ways, and many consider it to be a more accurate representation of a firm's value. The value of a firm's debt, for example, would need to be paid by the buyer when taking over a company, thus EV provides a much more accurate takeover valuation because it includes debt in its value calculation

Crypto Crude
31-10-2009, 09:13 PM
competition update...
Hey JbMurc,



HTM buyers 1.8c...
PEN buyers 3c...


Big week for HTM...

PEN up 66% and sitting at 5c
HTM up 39% and sitting at 2.5c

Its a close race at the moment...but id say im a favourite with mining permit due next week I believe...
this is what ive been waiting for...
and I bought a few heads to put my money where my mouth is...
:cool:
.^sc

JBmurc
01-11-2009, 07:49 PM
competition update...
Hey JbMurc,



Big week for HTM...

PEN up 66% and sitting at 5c
HTM up 39% and sitting at 2.5c

Its a close race at the moment...but id say im a favourite with mining permit due next week I believe...
this is what ive been waiting for...
and I bought a few heads to put my money where my mouth is...
:cool:
.^sc


Yeah we'll see I'm confident PEN will reward massively

Crypto Crude
02-11-2009, 05:02 PM
JBMurc,
im sure your quite right about PEN,

Latest update has me leading...

HTM up 72.2% since we started this...
and PEN up 60%...

The sharetrader crew would love to see you up here...
theres alot more to come, so book your flights...
;)
.^sc

JBmurc
02-11-2009, 05:59 PM
JBMurc,
im sure your quite right about PEN,

Latest update has me leading...

HTM up 72.2% since we started this...
and PEN up 60%...

The sharetrader crew would love to see you up here...
theres alot more to come, so book your flights...
;)
.^sc

when is this meeting again ,close date for PEN V's HTM

Crypto Crude
02-11-2009, 06:10 PM
ahhh haa... you now realise you have your hands full... hehehe....


JBMurc,
As you would be the special guest, the meeting would work around you...

On page 9, (I think), this is what I said...



JBmurc,
how about we have a little competition...
If HTM outperforms PEN by Jan 2010 then you come to the chch sharetraders meeting after that date and shout me a few beers...
and if PEN outperforms HTM then I will come to Queenstown with some of the gang, and I will shout you


so it finishes on the last trading day in Dec I guess...
:cool:
.^sc

JBmurc
02-11-2009, 06:26 PM
ahhh haa... you now realise you have your hands full... hehehe....


JBMurc,
As you would be the special guest, the meeting would work around you...

On page 9, (I think), this is what I said...



so it finishes on the last trading day in Dec I guess...
:cool:
.^sc

mmm going be real busy in Jan -mates wedding,AC/DC,NZ golf open will have to drive up that way at some stage next year still I think you guys be coming down to the sunning central if PEN gets the market attention

Crypto Crude
02-11-2009, 06:28 PM
lol...
nah mate...
You will be coming here...

anyway,
you just fit it around whatever you have planned...
anytime during the year is ok...
Feb, March, April... its all the same...
;)
.^sc

Huang Chung
17-11-2009, 07:55 PM
under 5c is the pullback, although a couple of people on HC think it might fall lower. (They are in the minority)

Well, two months later and we're still in pullback territory :(.

But, finally bit the bullet and bought a few today at 4.6c/4.7c.

PEN now has permission to climb to flight level 20.0.......

tobo
18-11-2009, 07:10 AM
It never ceases to surprise me just how long a sp can sit on the "brink" and we just wait, wait, wait. I got some more last week at 4.9 - doesn't look so clever as a short term trade, but I'm not worried longer term - may take a few days or a few weeks, and, as you say, lifting our eyes to the horizon, 20c will make quibbling over a few points less of a concern

pigeon
19-11-2009, 08:40 AM
yeah its stagnated hard

JBmurc
21-11-2009, 01:38 PM
yeah its stagnated hard

Yep sure is great time to add to your position I know I have been

-Tuesday, November 17, 2009
The Coming Nuclear Crisis
The world is running out of uranium and nobody seems to have noticed.

The world is about to enter a period of unprecedented investment in nuclear power. The combined threats of climate change, energy security and fears over the high prices and dwindling reserves of oil are forcing governments towards the nuclear option. The perception is that nuclear power is a carbon-free technology, that it breaks our reliance on oil and that it gives governments control over their own energy supply.

That looks dangerously overoptimistic, says Michael Dittmar, from the Swiss Federal Institute of Technology in Zurich who publishes the final chapter of an impressive four-part analysis of the global nuclear industry on the arXiv today.


Perhaps the most worrying problem is the misconception that uranium is plentiful. The world's nuclear plants today eat through some 65,000 tons of uranium each year. Of this, the mining industry supplies about 40,000 tons. The rest comes from secondary sources such as civilian and military stockpiles, reprocessed fuel and re-enriched uranium. "But without access to the military stocks, the civilian western uranium stocks will be exhausted by 2013, concludes Dittmar.

It's not clear how the shortfall can be made up since nobody seems to know where the mining industry can look for more.

That means countries that rely on uranium imports such as Japan and many western countries will face uranium .shortages, possibly as soon as 2013. Far from being the secure source of energy that many governments are basing their future energy needs on, nuclear power looks decidedly rickety.

But what of new technologies such as fission breeder reactors which generate fuel and nuclear fusion? Dittmar is pessimistic about fission breeders. "Their huge construction costs, their poor safety records and their inefficient performance give little reason to believe that they will ever become commercially significant," he says.

And the future looks even worse for nuclear fusion: "No matter how far into the future we may look, nuclear fusion as an energy source is even less probable than large-scale breeder reactors."

Dittmar paints a bleak future for the countries betting on nuclear power. And his analysis doesn't even touch on issues such as safety, the proliferation of nuclear technology and the disposal of nuclear waste.


The message if you live in one of these countries is to stock up on firewood and candles.

There is one tantalising ray of sunlight in this nuclear nightmare: the possibility that severe energy shortages will force governments to release military stockpiles of weapons grade uranium and plutonium for civilian use. Could it be possible that the coming nuclear energy crisis could rid the world of most of its nuclear weapons?

JBmurc
23-11-2009, 12:45 PM
Tue Aug 25, 2009
Strathmore Sells Certain Wyoming Uranium Mineral Leases to Peninsula Minerals

STRATHMORE MINERALS CORP. ("Strathmore" or the "Company") announces that its wholly owned subsidiary Strathmore Resources (US) Ltd. has agreed to sell seven state uranium mineral leases, located in Crook County, Wyoming to Strata Energy Inc., a wholly owned subsidiary of Peninsula Minerals Limited of Australia. The leases, which comprise a total of 5,640 acres, were acquired by Strathmore in 2004. The state leases represent assets found outside Strathmore's core Gas Hills uranium development project. Peninsula is developing their Lance Project near Oshoto in northeastern Wyoming, and the acquired leases enable that company to consolidate its land position in the area.

Strathmore will receive 5,000,000 common shares of Peninsula for the properties. In addition, Strathmore will retain a royalty. Peninsula will have the option to purchase the Strathmore royalty in part or in whole for a period of 3 years. In order to comply with state title transfer procedures, the transaction is expected to close by December 31st, subject to regulatory approvals.

Strathmore holds a diverse uranium property portfolio in Wyoming and New Mexico. The Company is continuing to evaluate alternatives for its non-core properties. A list of all Strathmore's uranium properties and resources can be found on the Company's website

Cannibal
23-11-2009, 01:28 PM
23 November 2009
Companies Announcement Of f ice
Via Elect ronic Lodgement

FEASIBILITY PROCESS UNDERWAY AT LANCE PROJECTS
Highlights
• Pre-Feasibility Study Underway
• Commencement of Plant Design
• Mine Monitor Well drilling commenced
• Peninsula on track to meet 2010 JORC Targets
• Positive feedback on Mine and Plant permitting

Summary

Peninsula Minerals Limited (Peninsula) is pleased to announce that it has made significant
progress in the mine planning and development process at the Lance Projects in Wyoming,
USA (Lance) and is now at a stage where detailed plant design can commence.
Global mining engineers and uranium specialists Lyntek Inc (Lyntek) have been appointed by
Peninsula to design an In-Situ Recovery (ISR) uranium processing plant that is capable of
processing up to 3 million pounds of U3O8 per annum. It is anticipated that the plant design will
be completed by the end of February 2010.
Petrotek Engineering Corporation (Petrotek), a company specialising in technical evaluation,
permitting and field operations related to injection projects, has been selected by Peninsula to
provide the feasibility study for disposal wells in the Lance Project area. The feasibility study will
evaluate subsurface zones for the disposal of fluids from ISR mining and restoration.
The PFS, when combined with optimization studies, metallurgical studies, hydrological studies
and mine permitting studies, being conducted in parallel, will form the basis for the full
feasibility study which is now scheduled to be completed by early 2011.
In addition, Peninsula is pleased to report that the Monitor Well Installation Program at Lance
has commenced. Well design and positioning for the base line and production monitoring of
the aquifer has been completed and the first monitor well cluster was drilled on 17 November
2009.
Peninsula can also report that the ongoing interpretation of the results from the current drill
program coupled with the inclusion of previously unreported mineralised holes has increased
it’s confidence in achieving its June 2010 JORC targets.
Level 1, 47 HaPyh SoPtnreeene: it+n, s6sSu1ul ab(0 iMa) c8ino e9e Wr3ra8Als0s 6 L90i9m028i0t,e d - ABF PNaO:x 6:6B 7+7o 6x01 68 2(10 24)9 08,9 S9 33u08b31ia 5co0 6E4a st WA 608
Finally, the Company has been further buoyed by positive feedback received during
October and November from the Nuclear Regulatory Commission (NRC) regarding the
potential to reduce the timing of the mine permitting approval process.
Executive Chairman Gus Simpson said “Over the last three years Peninsula has assembled
a first class uranium team who has worked tirelessly to advance these projects on all fronts and
the board is very pleased with the progress”.
Plant Design and Pre-Feasibility Study commences
Lyntek has been appointed to design an ISR uranium processing plant that is capable of
processing up to 3 million pounds of U3O8 per annum. The design process involves a detailed
review of the uranium deposit characteristics at Lance, the layout of the production well fields,
the metallurgy of the uranium, reports on pilot tests, disequilibrium conclusions, plant siteing
issues and all other concerns that will affect the design of the plant and permitting process.
Lyntek expect that the plant design should be completed by the end of February 2010.
Peninsula is particularly pleased to secure the services of Lyntek who will also provide various
engineering and design services to the Company during the feasibility process. Based in
Colorado, Lyntek provide services globally ranging from process engineering and feasibility
studies through to detailed engineering, procurement, construction management, plant startup
and pilot plants. Lyntek is highly experienced in the uranium industry having been involved
in the sector since 1983, and has vast knowledge of mining operations in Western USA. Current
and past clients include Ur-Energy Inc, Cogema, Heathgate Minerals Inc, Power Resources Inc
(a division of Cameco), Sumitomo Uranium and also Wyoming based High Plains Uranium Inc.
Petrotek will complete the injection well feasibility study by February 2010. The feasibility study
will assess injection zones in the Lance Project area below the Cretaceous Pierre Shale, Cody
Shale, Bearpaw Formation, and the Deadwood/Flathead equivalent. Petrotek has completed
numerous disposal well and related groundwater projects for ISR operators over the past 15
years, including such clients as Crow Butte Resources Inc, Energy Metals/Uranium One, Power
Resources Inc, Cogema, URI/HRI and Ur-Energy. Petrotek will also provide permitting services
and assist with public relations and NRC/WDEQ coordination.
Monitor Well Installation Program
Well design and positioning for the base line and production monitoring of the aquifer was
completed in October and the first monitor well cluster was drilled on 17 November 2009.
The monitor well program consists of the installation of wells in six locations spread over the Ross
Project area (Ross) at Lance to provide maximum characterisation. At each of the six
locations, wells will develop water quality and quantity characteristics below the ore zone, at
the ore zone, and at two locations above the ore zone for a total of 24 wells. The average
cased depth using the first rig will be approximately 350 feet, whilst the average completed
well installation and development using the second rig will be 50 feet.
The monitor well program is extremely important as it provides the baseline data components
that the NRC/WDEQ require as part of the mine permitting and feasibility process at Lance. The
wells will be used to develop potentiometric surface maps to define affected aquifers and
determine regional groundwater quality. Aquifer pumping tests will be conducted to define
aquifer properties within the affected area, hydrologic boundary conditions, directional
permeabilities and vertical confinement. This new information will be meshed with the existing
data base that Peninsula holds from the previous mining operation at Ross.
Level 1, 47 HaPyh SoPtnreeene: it+n, s6sSu1ul ab(0 iMa) c8ino e9e Wr3ra8Als0s 6 L90i9m028i0t,e d - ABF PNaO:x 6:6B 7+7o 6x01 68 2(10 24)9 08,9 S9 33u08b31ia 5co0 6E4a st WA 608
2010 JORC Targets
Processing of the data contained within the recently acquired Nubeth database has added
further mineralised holes (previously unreported) to the uranium mineral inventory at both Ross
and Barber. Both the current drill results and the inclusion of these “new” holes are providing
additional confidence that Peninsula’s initial JORC targets will be met by June 2010.
In addition, the quality and quantity of the Nubeth database information indicate that the
extent of drilling required to meet these JORC targets will be significantly reduced, with
expected timing and cost saving implications for Peninsula.
Positive Feedback from NRC on permitting process
During October Peninsula met with the Wyoming Congressional Delegation and also the NRC
in Washington DC to discuss and present the Lance Projects. The meetings were very positive
and discussions with the NRC suggested that Peninsula’s unique process of continuous
submission should auger well for the turnaround time of its mine and plant permitting process.
While contingent on a number of factors, the feedback received from the NRC has given
Peninsula confidence that permits can be granted on or even ahead of the current schedule.

JBmurc
23-11-2009, 02:33 PM
"Global mining engineers and uranium specialists Lyntek Inc (Lyntek) have been appointed by
Peninsula to design an In-Situ Recovery (ISR) uranium processing plant that is capable of
processing up to 3 million pounds of U3O8 per annum. It is anticipated that the plant design will
be completed by the end of February 2010."

now lets add some numbers together U308 has got to increase in value to much demand to small a supply my short-mid term price target for U308 is north of $100lb

PEN could well be producer vast qualities of U0308 2011 onward ramping up production to 3mill lbs a year 2012-2014
If so 300mill gross revenue current market cap 60mill If PEN like PDN grow a sizable resource most likely they could well command a very high P/E (PDN p/e-34)

of course they will need to take-on dept an raise more from shareholders next year
still a S/p with a $ in front may will be possible when you do the numbers

impacman
24-11-2009, 07:47 AM
Will be interesting to see if the leak at 3 mile island nuclear plant yesterday dulls any enthusiasm. I would doubt it but you never no with popular opinion driven by a sales orientated media. Having said that I haven't heard it being shouted from the roof tops by them. Does highlight the risk though - one good incident could put everything back for another decade or so.

STRAT
24-11-2009, 09:53 AM
one good incident Shouldnt that read "one bad incident" which of course would be really really bad if you live anywhere near or down wind from it? :eek:

pigeon
25-11-2009, 09:47 AM
*accumulating*

impacman
26-11-2009, 08:00 AM
Shouldnt that read "one bad incident" which of course would be really really bad if you live anywhere near or down wind from it? :eek:

Depends how you view incidents I guess :D - in this case I would agree with you that it would be "bad'. That is a professional opinion of course:D As it turns out nothing of any consequence has come of the other day and all personnel are back at work at 3 mile.

On a positive note they released results from first 44 holes in Barber drilling. 27 positive with general comment that roll fronts look good.

Cannibal
27-11-2009, 03:31 PM
"Summary - Peninsula Minerals Limited (Peninsula) is pleased to announce that its Mineral Rights acquisition program has secured a further 916 acres of surface access rights at the Ross project area (Ross) of the Lance Projects in Wyoming, USA (Lance).

The new ground acquired hosts multiple intercepts of high grade mineralisation and this is anticipated to expand the known uranium mineralisation at Ross. Previous lack of access to this ground has prevented drilling to confirm the continuity of mineralisation recorded in the extensively drilled areas adjacent to this new ground.

Importantly, this ground also completes the acquisition of the surface area for the initial Ross production area proposed in the mine permit area application that Peninsula is submitting to the Nuclear Regulatory Commission and Wyoming DEQ.

Peninsula continues to acquire additional land with negotiations underway on further strategic holdings.

Executive Chairman Gus Simpson said “this is a highly strategic acquisition as it completes a key component of our mine planning strategy and it also is expected to contain significant quantities of Uranium; my congratulations to all personnel involved“."This is one of the best announcements from PEN yet IMO.

"Summary
Peninsula Minerals Limited (Peninsula) is pleased to announce that its Mineral Rights acquisition program has secured a further 916 acres of surface access rights at the Ross project area (Ross) of the Lance Projects in Wyoming, USA (Lance).

The new ground acquired hosts multiple intercepts of high grade mineralisation and this is anticipated to expand the known uranium mineralisation at Ross. Previous lack of access to this ground has prevented drilling to confirm the continuity of mineralisation recorded in the extensively drilled areas adjacent to this new ground.

Importantly, this ground also completes the acquisition of the surface area for the initial Ross production area proposed in the mine permit area application that Peninsula is submitting to the Nuclear Regulatory Commission and Wyoming DEQ.

Peninsula continues to acquire additional land with negotiations underway on further strategic holdings.

Executive Chairman Gus Simpson said “this is a highly strategic acquisition as it completes a key component of our mine planning strategy and it also is expected to contain significant quantities of Uranium; my congratulations to all personnel involved“."

JBmurc
27-11-2009, 03:39 PM
one step at a time PEN will be a top U308 producer an worth many mutiables of today market cap

asc4
09-12-2009, 02:28 PM
yeah its stagnated hard

Looks like its starting to move now....down :eek:

Crypto Crude
02-01-2010, 06:32 PM
HTM buyers 1.8c...
PEN buyers 3c...

hey hey hey JBMURC,
comp is over,
pen 3c to 4.3c-> 43.3% return....

HTM 1.8c to 2.9c->61.1% return...
see you in chch, let us know when your coming...
;)
.^sc

JBmurc
02-01-2010, 08:04 PM
hey hey hey JBMURC,
comp is over,
pen 3c to 4.3c-> 43.3% return....

HTM 1.8c to 2.9c->61.1% return...
see you in chch, let us know when your coming...
;)
.^sc

yeah you got me there still once PEN gets into gear it will really fly which I see you already know by picking it over HTM :) as for getting up to chch I will let you know as this year will be very very full-on ,8 weddings ,concerts,work,building a house ,investing an studying keeping an eye on 3.5mill AUD in the ASX-golf,trailriding,snowboarding with the boys,keeping misses happy etc etc

Dworsf01
11-01-2010, 04:39 PM
Just checked the market and as of now PEN's at 5.2. Wow. Any ideas as to what could be the driver?

evilroyrule
11-01-2010, 04:50 PM
yeah you got me there still once PEN gets into gear it will really fly which I see you already know by picking it over HTM :) as for getting up to chch I will let you know as this year will be very very full-on ,8 weddings ,concerts,work,building a house ,investing an studying keeping an eye on 3.5mill AUD in the ASX-golf,trailriding,snowboarding with the boys,keeping misses happy etc etc

jb you going to the pixies in march????

Cannibal
11-01-2010, 05:25 PM
Just checked the market and as of now PEN's at 5.2. Wow. Any ideas as to what could be the driver?

Lots of big buyers all came in at the same time. An announcement very soon is my pick...

pigeon
15-01-2010, 04:29 PM
Lots of big buyers all came in at the same time. An announcement very soon is my pick...

got your announcement... strong price action today aswell after that Hartleys report telling us what we already knew. Interesting!

JBmurc
15-01-2010, 08:11 PM
jb you going to the pixies in march????

no be to busy hopefully at that time laughing at all the moola PEN has made me
5.5c a great rebound could well see it get to Hartley's 10c by mid year


From hartleys report
-Peninsula is yet to specifically target the nose of any roll fronts; however, every hole that has been drilled to date has encountered mineralisation. This is
particularly significant as the Company should begin targeted drilling on the nose of the roll fronts over the next two months, with possible results by the end
of March 2010. We expect that these results will yield consistently higher grades
than the already impressive results achieved to date.-

tobo
17-01-2010, 09:11 AM
June 09 Hartley's 6 month Target (from 3.1c) was 8.2
31 Sept 09 Hartley's 6 month Target (from 5.1c) was 10
Jan 10 Hartley's 6 month Target (from 5.2c) is 10

Cracked 6c in Oct, dropped to 5 on lower volumes, dropped to 4 on very low volumes.
Last weeks climb to 5.5 was on less volumes than last year's climb to 6,
and there is a LT rising trend (higher lows, higher highs), so more to come next week I think.

Hold LT.

shasta
03-02-2010, 03:17 PM
June 09 Hartley's 6 month Target (from 3.1c) was 8.2
31 Sept 09 Hartley's 6 month Target (from 5.1c) was 10
Jan 10 Hartley's 6 month Target (from 5.2c) is 10

Cracked 6c in Oct, dropped to 5 on lower volumes, dropped to 4 on very low volumes.
Last weeks climb to 5.5 was on less volumes than last year's climb to 6,
and there is a LT rising trend (higher lows, higher highs), so more to come next week I think.

Hold LT.

PEN - Presentation to IDABA Mining Conference

http://www.stocknessmonster.com/news-item?S=PEN&E=ASX&N=479295

First stage of PFS completed

http://www.stocknessmonster.com/news-item?S=PEN&E=ASX&N=479315

Ponda
13-02-2010, 12:32 PM
More high grade intersections of Uranium at BARBER :D

http://www.asx.com.au/asxpdf/20100212/pdf/31nnxfvh1kk2wf.pdf


This eems to be a company that understates yet over delivers.
JORC is supposed to be out end of June but could come alot sooner.

DYOR

JBmurc
19-02-2010, 10:02 AM
More high grade intersections of Uranium at BARBER :D

http://www.asx.com.au/asxpdf/20100212/pdf/31nnxfvh1kk2wf.pdf


This eems to be a company that understates yet over delivers.
JORC is supposed to be out end of June but could come alot sooner.

DYOR

yeah they certainly do can't wait till the market falls in love with it PDN style which I do believe it will in time in the mean time Patience needed

Caesius
22-03-2010, 01:47 PM
Wow ASX down 0.75% and PEN jumps 8.8% with no news. Any reasonable explanation? Maybe it was simply oversold too heavily last week...

JBmurc
22-03-2010, 02:03 PM
news coming I'd say hopefully major re-rating coming

drillfix
22-03-2010, 02:06 PM
Probably because of the same reason anther 50 stocks are jumping 20% or 10% with the bat of an eye each time we look at them.

I think perhaps either someone in the know about something, or Technically, all the indicators showed over sold and hence Friday's strong close which prior to that was a Doji so Bang, off they go like race horses.

Currently at intermediate resistance at 4.8c, a break and hold past that should see it channel upwards again to approx 5.5c should it break through.

JBmurc
23-03-2010, 11:45 AM
Like I said guys good news coming insiders buying talk about leaky ship

MAIDEN JORC COMPLIANT RESOURCE STATEMENT BROUGHT
FORWARD AS METALLURGICAL RECOVERIES FROM ROSS EXCEED
EXPECTATIONS
Highlights:
Lance Project
• Metallurgical test work on Ore samples from the Ross permit area result in up to
83.2% leaching of uranium in circuit;
• Initial JORC compliant resource statement date brought forward to April 2010;
• Key milestones being achieved ahead of schedule;
• Full Feasibility Study completion date brought forward.
Karoo Project
• Extensive drilling program scheduled to commence in first half CY2010;
• Independent Scoping Study initiated.
Peninsula Minerals Limited (Peninsula) is pleased to announce that the recently completed
metallurgical test work at the Ross permit area has confirmed average recoveries of greater
than 80% across all samples. These results are considered to be at the high end of a typical ISR
operation.
Executive Chairman Gus Simpson said “The agitation leach testing shows that the Ross Project
uranium leaches very well with low concentrations of bicarbonate and oxidant in the lixivant.
It should be noted that agitation leach testing is used primarily to determine general leaching
amenability and the most advantageous lixivant concentrations for the leaching of uranium”.
Peninsula is also pleased to announce that it is now expecting to complete its Initial JORC
compliant resource statement by late April 2010. While the calculation is yet to be finalised, in
terms of the size and category, results are expected to achieve the exploration target
projections.