ERN - Erongo Energy

RIC · 27 February 2007

hi chris

if have 33 million lbs in anomaly a only how

come ern not $4 now-how sure are we that they

have any decent quantity. by the way i came from
oil and that oil revenue is very small. i like look of
their minerals sands it looks huge 40km*20km*200m

i did buy some more ern today

mmmmining · 27 February 2007

Halba said:
me dun think smm is gone yet

yes mmming they have asked for a few licenses

as i type it looks like my top up bad timing - uk market has crashed 100 points

I can smell the correction is coming. But I am kind of disappointed it is triggered by crashed Chinese market.

Anyway, uranium stock has better chance to survive, 10-20% correction or recover for uranium stock will be well within normal range.

Halba · 27 February 2007

chinese mkt up 100% since october 2006, thats about 4 months up 100%

it is natural reaction to go down after going up so much

Halba · 28 February 2007

with everything hit hard, just going back to the potential of this co

Going back to their erongo anomalies, there are 2 major anomalies

one is 25km by around 5km wide. If the whole anomaly is uranium bearing, assuming intersection of around 1-2m thick average intersection

25,000m *5000*3.5*1 = 437mT

In anomaly 2, there is about 10km by 3km anomaly

10,000*3000*3.5*1 = 100mT

Total tonnage @1m intersection width - 537mT

assuming a low average grade of 0.012%

537mt @ 0.012% = 141mil pounds. Of course if higher grade zones were found within each anomaly it would be bumped up. Same with higher thicknesses/widths this would be bumped up.

nizar · 28 February 2007

Halba said:
with everything hit hard, just going back to the potential of this co

Going back to their erongo anomalies, there are 2 major anomalies

one is 25km by around 5km wide. If the whole anomaly is uranium bearing, assuming intersection of around 1-2m thick average intersection

25,000m *5000*3.5*1 = 437mT

In anomaly 2, there is about 10km by 3km anomaly

10,000*3000*3.5*1 = 100mT

Total tonnage @1m intersection width - 537mT

assuming a low average grade of 0.012%

537mt @ 0.012% = 141mil pounds. Of course if higher grade zones were found within each anomaly it would be bumped up. Same with higher thicknesses/widths this would be bumped up.

Yeh good analysis but like no1 cares during a correction.
Stocks get smashed non-selectively.

But its a quality stock and will bounce back - just dunno when - and how much more pain btw now and then.

chris1983 · 28 February 2007

nizar said:
Yeh good analysis but like no1 cares during a correction.
Stocks get smashed non-selectively.

But its a quality stock and will bounce back - just dunno when - and how much more pain btw now and then.

Haha..pretty straight forward there. I liked that litte write up. Its true though. Anything will get smashed. Our stocks will all bounce back twice as strong in 6 months time. Probably stronger!

Halba · 28 February 2007

Agreed all just felt like reinforcing some of the positives on a down day.

Feel better doing it : . Man what a frikkin wipe out today. Overall am down nearly $100k . The average resource stock is down 10%.

chris1983 · 28 February 2007

Your fund must be huge

I was hitting all time highs on my fund yesterday and that is close to the amount you lost today halba..haha im a little fish. I was down 6 k today.

Halba · 28 February 2007

Its all on paper- these co's fundamentals have not changed by 1 china shock.

mmmmining · 28 February 2007

Halba said:
Agreed all just felt like reinforcing some of the positives on a down day.

Feel better doing it : . Man what a frikkin wipe out today. Overall am down nearly $100k . The average resource stock is down 10%.

Halba, you are not alone. But I am a little happier then you because I picked up $10 on the street today! What a consolation price!

Well, I might have to wait for the day after tomorrow to add more position on ERN before I have chance to observe the price action tomorrow.

bean · 28 February 2007

For every sellar there was a buyer so the ones that bought at the lows today are making money already. - 10% (9.3%) loss wasn't to bad today because it was a lot worse when they were all at there lows.

LifeisShort · 28 February 2007

mmmmining said:
Halba, you are not alone. But I am a little happier then you because I picked up $10 on the street today! What a consolation price!

Well, I might have to wait for the day after tomorrow to add more position on ERN before I have chance to observe the price action tomorrow.

Was it from the guy who jumped from the roof and his wallet was emptied by passers by?

mmmmining · 1 March 2007

Have observed the ERN's price having shown no strength today, I might put adding position on hold. Meanwhile, I am going to estimate the next possible ann release date.

Without ann or hearsay, it is very hard to move this stock up.

Similar to BMN, or EXT, which has a drilling program going on, ERN has a rock grabbing program on going, right?

I guess rock grabbing might yield good results easily because they can pick the finest rocks they can find, and chip away the worst part of the rocks to make sample with 105% of contained U3O8 , or they can easily smuggling a few (Just kidding).

What do you guys think?

Halba · 1 March 2007

imho think the mngmt of ern is very good(do a lil research) and the consultants are good. if no ann by end week i might shoot off a friendly email, but don't doubt their mngmt knowledge -marc gasson, klaus eckhoff very reputed and experienced and should deliver.

mmmmining · 1 March 2007

Halba said:
imho think the mngmt of ern is very good(do a lil research) and the consultants are good. if no ann by end week i might shoot off a friendly email, but don't doubt their mngmt knowledge -marc gasson, klaus eckhoff very reputed and experienced and should deliver.

Halba, you just have been brainwashed by Chris (Kidding). How is your portfolio? Let me guess, you have recovered one-tenth of your yesterday loss?

I watched 6 hours movies for the whole day. Only spent less than 10 min checking the market during the trading hour.

chris1983 · 1 March 2007

Haha brainwashed by me too bad I can't brainwash everyone. Uranium stocks are taking a bit of a hit atm. I dont really want any news out on erongo untill the dust settles with the markets. They probably wont react how they should to good news.

I still think everything will settle within a week or two. Its actually the time to be buying..but I have no cash. So I just have to sit on what I have. You guys wouldnt of eroded your profits allready? Im only back to where i was just over a week ago.

Halba · 1 March 2007

Nup no recovery mmmmining. I am deep in the s**t after my DMX loss, lost 3 thousand bucks.

Other than that I think my JMS sucks and others within normal limits. Can't control everything in corrections.

I'm looking to add some ASX 50 solid stocks in this correction. I have enough good uranium stocks.

nizar · 1 March 2007

chris1983 said:
You guys wouldnt of eroded your profits allready? Im only back to where i was just over a week ago.

Brother not everybody bought ERN at 1c

chris1983 · 2 March 2007

nizar said:
Brother not everybody bought ERN at 1c

haha I wish. avg price is 48 cents for 34 k shares So my profits on erongo have pretty much dried up..but I was in loss when they were 40 cents so I dont really care. Im keeping my 3 uranium stocks plus my Gas stock (Arrow Energy). Have you guys look into WMT? I like them but they probably have too many shares. They seem to be progressing well though. If the correction continues..which it looks to be in a very cautious state atm I still believe the uranium sector is the place to be. Energy stocks will be fine IMO. Will get hit initially but it wont last.

bean · 2 March 2007

If we are losing and we still hold - why did we buy in the first place.
To make money we all still think that one day this stock will make money.
I have been selling uranium stocks last few weeks but am holding some long term. I have bought gold and silver shares. Still looking at Zinc and Nickel - WHY FUNDAMAENTALS - sell yes but you will buy back for the same reason you bought in the first place.
When telstra hits $2.50 and uranium is $100.
when you do a search on google and the stock is worth US$400.
Search google at US$400 what do you find a web page link. or search for something real urainium US$85 lb

ERN - Erongo Energy

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