Reading back though the ERN thread trying to see the light and justify why i've been loading up on ERN in the last two days, maybe even for a third!
Sorry to follow u around Daredevil. IMHO ERN may be onto something very major. They have said that they are looking for a very large bulk tonnage low grade U deposit. There are a collection of these deposits in Nambia and they run at grades 130-140 ppm or 4.5 oz per tonne. Forsys was like ERN about 12 months ago with a very similar share capital and aspirations and ran from 50 cents to $10.00, that is a certified 20 bagger. They have about 30 million pounds /14,000 tonnes of u and are worth + half a billion dollars now.
ERN is worth US $31 million has at least 3 BILLION TONNES of "target rocks" down to 75 meters on its Erongo Granites project at Areas 1-4. They have historical drilling and the five new holes that identify about 3.5% of the target rocks as containing u AND they also point out that grades may be open at depth (maybe several billion tonnes more of potential target rocks). All of these target areas are covered with u "signatures" from various surface tests.
The fact is (1) Nambia hosts a number of very large bulk tonnage u deposits (2) ERN is sitting on on a number of very massive anomolous u areas that have many surface signatures and a very small area that has been drilled out and contains grades that are typical of economic deposits in the area (3) Mineable grades are as low as 130 to 140 ppm (Forsys at Valencia and Treppokje) and ERN's grades are very shallow so far (4) Costs (verified by a number of studies by independent groups) on these low grades are very low at US$22 per pond of u so the operation becomes very profitable on large tonnages (5) U can fast track these deposits from drilling to mine development very quickly.
IMHO with the tremendous shortage of u around the world ERN will attract a LOT OF attention based merely on the size of the targets, the similar geology of nearby massive u mines and the fact that Nambia is a very good place to develop a U mine AND that ERN is in the very early stages of exploration that is generating very positive data.
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Reading back though the ERN thread trying to see the light and justify why i've been loading up on ERN in the last two days, maybe even for a third!
I think with every stock though you must have a plan. I have always stuck to the plan of selling enough stock to free carry the rest no matter how much I like the stock. I usually aim for a 100% increase so I can sell half to free carry the rest. I have carried out this strategy with all my holdings. AOE/BMN/ERN/ECH to name a few. It keeps you safe and makes it very hard for you to lose. You can then decide later if you want to sell your free carried holdings if you are starting to sway away with how the company is being run..or if you change your views in regards to the fundamentals of the company. This is my method. I can now comfortably carry my holdings in all four of those companies as I do believe in their longterm prospects and I would like to see how they develop their projects and what exploration each of them will put put forward. Erongo still have a heap of work to do..they havn't even touched on 3 of their tenements yet...so the short term pain may hurt but they aren't going to roll over and die.
I guess your strategy may change with companies that have more solid fundamentals..but I usually try to stick to the system. It has helped me a number of times to keep my fund growing at a steady rate. When you sell your stock to free carry you just have to be able to pick the next winner..thats the challenge.
bought the oppies at 40c today. don't know what to think maybe its true value maybe its a dog... time will tell...
Hope it pays off for you boy. ERN are back a long way. I didn't think we would see these prices again. With the downturn in the uranium market..a lot of stocks have really got hit hard. Uranium spot price dropped a dollar for the first time in 40 months I think it was..I think some investors believe that is the end of the world. There could be some other factor affecting the Erongo sp though? Maybe some uninspiring drilling results on the way? I'm not sure. Thats the only thing I can think of atm.
Other than that they have extensive land coverage in Namibia with 4 granted epls and other granted mineral sands epls. EPL's arent being granted any longer in Namibia for uranium exploration so I think its a big added bonus to the companies that allready have licenses over there. They have only touched on one of their licenses. I'm holding long on the rest of my holdings. I really do believe they can do something.
This overoptimism is recipe for disaster, IMO, and seems to be a common theme in the uranium threads. Nothing is a certainty boy888. It was not long ago that people in these threads were saying uranium would never go down. LOL. FWIW, please re-evaluate all stocks you have constantly, if not daily, to decide if they should stay in your portfolio. Holding on to anything on an initial assessment can lead to long term pain.I'm not worried is anyone willen to sell them to me at 30c. Please be my guest, the update is around the corner?
This overoptimism is recipe for disaster, IMO, and seems to be a common theme in the uranium threads. Nothing is a certainty boy888. It was not long ago that people in these threads were saying uranium would never go down. LOL. FWIW, please re-evaluate all stocks you have constantly, if not daily, to decide if they should stay in your portfolio. Holding on to anything on an initial assessment can lead to long term pain.
This comment is not specifically related to ERN, but to anything. All the best.
No need to get aggressive Boy, I was providing some friendly counter arguments for discussion. You can tell us all that you have everything under control, or you can take the offensive.its market cap is peanuts i continue to buy... end of story! at 60 odd cets a share its dis****ling cheap....
We'll certainly see if the 200 MA has any strength at .60. Terribly oversold and could see a jack knife from short sellers if it does hit .50.
Its getting rather exciteing.
SGB
Hope it pays off for you boy. ERN are back a long way. I didn't think we would see these prices again. With the downturn in the uranium market..a lot of stocks have really got hit hard. Uranium spot price dropped a dollar for the first time in 40 months I think it was..I think some investors believe that is the end of the world. There could be some other factor affecting the Erongo sp though? Maybe some uninspiring drilling results on the way? I'm not sure. Thats the only thing I can think of atm.
Other than that they have extensive land coverage in Namibia with 4 granted epls and other granted mineral sands epls. EPL's arent being granted any longer in Namibia for uranium exploration so I think its a big added bonus to the companies that allready have licenses over there. They have only touched on one of their licenses. I'm holding long on the rest of my holdings. I really do believe they can do something.
How long did you intend to hold them when you first bought them? Was it a trade that turned into investment? What profit is "enough" for you consider exiting?Im going to hold as I feel more of a long term person
When it drops down into a SP range that puts it Market cap well below its peers? Thats oversold to me? Pretty simple right. How much further can they drop from here? Back into the mid 50's? Back to the 40's where I purchased my first bundle? If they did I would be buying more. At 55 cents the fully diluted cap would be 42 million. so anywhere from 55-60 is amazing value to me. I dont know if it will get back to these levels though..might do.
Well it went back down to these levels guys..let see if the 55-60 sp level was right as bargain buying. Will be interesting to see how this all pans out.
Big support ATM
(2) 1,804 0.610
(1) 10,000 0.605
(5) 122,264 0.600
(2) 121,616 0.590
(2) 126,969 0.585
If you were trading this off the chart you might have sold yesterday, or today, depending on when you got in. 200d ma might provide some support, but there looks to be more between 50 and 60. The tech indicators there don't get any more bearish unfortunately. The fundamentalists pumping this when it was at $1.10 and all the way back down would be still holding of course. It might get back up there one day, if their analysis was correct.
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