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ERN - Erongo Energy

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sydney1963 said:
Can anyone find out how much the ib of U3O8 worth according of ERN reserve, for example MTN [au$3/IB].
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There is just good potential for this one..but no resource as of yet. They have proof that uranium exists on the tenements and this is also proven through historic drilling on one of the Erongo licenses. They don't have the grades for this historic drilling as of yet. There are two very high radiometric readings that have been supplied for the two erongo mountains epl's. They have made comparisons from the radiometrics with the Rossing and Langer Heinrich deposits. Read through the thread. Its holding well at 60. Seems to be the new base level created since the placement was made to sophisticated investors at 60 cents. Just have to wait for something to happen now.

Ive done my research on this one and hopefully things work out as I planned because I hold quite a few..mind you my avg is 48 so things are looking okay. But I'm looking for another flyer like BMN
 
Anyone watching these? Remember the last report. See below.

Future Work

The Company intends to complete the desk top study during the current quarter, incorporate all data into the database, and plan for follow up field checks, trenching and drilling programmes.

The Company has acquired a scintolometer and will commence with ground surveys in February 2007 to better define high priority areas for follow up with regional sampling programmes. A hand auger will be used to collect samples in areas covered by excessive overburden which could mask potential uranium anomalies. The Company intends to fast track trenching and drilling programmes to test areas with known uranium occurrences.

Work is being carried out as we speak. Hopefully we will get an update some time in early March.
 
JWBH01 said:
Has there been any word on the 5th licence?
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Seriously..dont worry about the fifth license...they will progress the company with the 4 they allready have. There has been no word as yet on the fifth license..its still pending..do note though..if they get that license..pump your fist in the air for me with joy because we should make some nice profits off the back of that message if it does come to fruition.
 
Maybe I should buy a few more of these if the SP dips in the next few days before the fun starts.
 
JWBH01 said:
Maybe I should buy a few more of these if the SP dips in the next few days before the fun starts.
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Well I dont know when the fun will start. But I think we will get a gradual increase in the SP as they move their projects forward. I can't see how it will stay down. Uranium spot price is up to $85 a pound and the future for a lot of the Namibian prospects continues to look brighter and brighter. It doesnt matter if they end up having a low grade project because the uranium price doesnt look to be falling anytime soon. The production costs over there are cheap too and it is a lot speadier to get projects off the ground.

One other good thing is the guys who are behind Erongo have brought a lot of companies from explorer to producer. The next 3 months should be interesting.
 
I read that Uranium supply will only catch up with demand in 2012 so as long we have shares in companies that are producing before then, hopefully well before then, we should be okay.

I guess this is why its better to hold shares in U companies overseas because they will be up and running sooner than companies in Australia.
 

Who said to hold untill production I mean yes..they might be a hold untill production..but even if they find something with the way the uranium sector is heading you will make good profits.
 
this could be a mega bagger if it gets production. but not quite as good as bmn!

I continue to watch with keen interest! Might add some more

Chris i dumped my AGM today to raise some cash!
 
Halba said:
this could be a mega bagger if it gets production. but not quite as good as bmn!

I continue to watch with keen interest! Might add some more
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I havnt got it on the same wave length as BMN. Who knows their licenses are huge and could contain high grade uranium but BMN is my best uranium stock atm. I still think this one will bring some large gains though.
 
If those 6m intersections of calcrete are high grade this will rocket

If any of the undrilled 21 anomalies have >250ppm this is absolutely rocket

Market probably needs >150ppm at this stage though
 
Disagree - I think the "market" is much more educated now in relation to U results..just by the sheer volume of one man and a spade releasing results..150ppm will get ERN nowhere...relatively (as the release of drilling results will increase SP just because they have..well.. drilled)..I think the market needs >300ppm to take a serious interest in a U stock now.

I cant remember who as I write, but one company today released an ann stating historical results of 38ppm...you have seriously gotta be kidding me.
 
bigt. Uramin is 120ppm cut off 30,000t, but high tonnage(over 100mT of u mineral) in namibia

market cap is $1.5billion dollars. It has 10 bagged its stock price in 1 year. All it has done is drill out its resource called the Trekkopje project.

what u need to understand is that the average grade may be 150ppm, but its easily extractable u especially if its large tonnage, it will be a highly economic operation imho.

Read Uramin's bfs, have a look, its NPV is over 1billion USD
 
Totally agree with you Halba, they may have a huge tonnage at 150ppm...what
I meant was public perception of these U results is now a little more refined..though still the majority of the population is..uneducated..as to the big picture..they like to see big numbers...the bigger the better. If you are aware of the variables that go into the viability of a potential mining operation then I agree, if it is 1m below the surface, 100ppm, and 2m from a railroad (etc, you know what I mean)...this is a potentially massively profitable scenario. Yet, we still like big numbers.
 
agreed. big is better. maybe if they have 6m @ 400-500ppm calcrete that is fine.

i notice MRU has been running on not a single drill result or assay. puzzling this mkt
 
Looking good....

Trending up since Feb 08. I wonder if a message is on the horizon? Volume is increasing.
 
chris1983 said:
Who said to hold untill production I mean yes..they might be a hold untill production..but even if they find something with the way the uranium sector is heading you will make good profits.
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I know you will make good profits if they find something but wouldn't you want to hold onto some until they are in production?
 
JWBH01 said:
I know you will make good profits if they find something but wouldn't you want to hold onto some until they are in production?
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I most likely will hold. As long as everything looks good. I'm not really fond of paying tax. Anyway we have to see how they progress their operations. I have faith behind the guys running the show so everythings looking good so far. Lets hope they come through with some good news.
 
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