PEN-Peninsula minerals-Uranium,gold

[JBmurc]

I believe confimation of PacMag's assets will be the fueling of the rocket- Shasta

brought more today at-8.6

[JBmurc]

-9.4c 8% nice bounce,maybe some good news to be announced soon

[shasta]

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]

-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]

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]

-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]

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]

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]

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]

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 Shastaup 3c atm hopefully my funds clear before the end of tommorrows tradinglike 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