Member Info for Petronius

but it will have to almost double again before I get back to my buy in price! Good job I have a long time horizon for my shares. Buys are currently ahead of sells 2:1 so I guess the market gets the message. Think I can safely leave this one on the back burner for a while and just let it simmer whilst I step out for a while.

No RNS as yet, so looks like we will have to mark time whilst they map out their strategy. In the meantime, got an RNS this morning for HER, which is the sort of thing I am waiting for from NRRP, so I have got something to chew on! NRRP is about to leave the platform - all aboard!

simply replace Mr. Mark Hohnen and Prof. Glyn Tonge who repesented the previous owners of the 38% shareholding (KAH) so no real surprise there. I agree, CGNPG through their subsidiary Taurus, have only one objective - to secure huge amounts of uranium for their vast nuclear program. Here is a quick heads up on their plans for the development of the Husab site, which they have just acquired http://www.smartplanet.com/blog/intelligent-energy/china-grabbing-up-uranium-to-secure-nuclear-lead/14149 Knowing NRRP still retain a stake in the neighbouring EPLs means they have to work with us. Helping NRRP to develop their projects, cements relationships and avoids complications like NRRP putting their uranium interests up for sale to the highest bidder, to raise cash. They could always circumnavigate that by buying up the rest of NRRP but as an arm of the Chinese state nuclear industry, I would say they have little interest in the rest of the NRRP assets. Better to keep NRRP on board and work together, so that each can achieve their goals - they would benefit from a successful outcome for NRRP, in any event. What we need now is a statement from the company, detailing the development plan for the two 'ready to go' projects and how they are to be financed. As Sage says - "roll on tomorrow"

The last info we had on EPL3139 came with RNS 18/01/12 which stated "Further to submission of a nuclear fuels application over the Company's licence, EPL 3139, on 27 March 2006, the moratorium on the issuance of new nuclear fuels exploration licences in Namibia remains in place and accordingly the nuclear fuel rights for EPL 3139 have yet to be granted." Further, on the NRRP website (although they are slow to update the site - still showing KAH as the major 38.03% shareholder) with regard to the JV agreement, they state "The agreement also allows for the formation of a 50/50 unincorporated joint venture in relation to an additional licence, EPL 3139, which is located within 30km of Extract’s world-class Husab Uranium Project, which has been confirmed as the fifth largest global uranium deposit by contained metal." - which implies the JV (Brandberg) still only applies to EPL 3327 and EPL 3328. However, unravelling the recent takeover of Extract (including KAH) by Taurus, this means Taurus becomes our 50% partner in the Brandberg JV - but as Taurus also now own 38% of NRRP, means they will have a combined interest of their 50% + (38% of our 50% = 19%) totaling 69%. in the JV. Thats the way I see it. It will be interesting to see how they deal with that one when they come to talk about how to develop the Namib prospects.

Mr. He, the new Chairman, said, "North River represents an important investment for Kalahari and Taurus, and I am pleased to be maintaining our presence on the Board of North River. I am happy to take the position of Non-Executive Chairman of the Board and expect encouraging progress in North River's strategic development so as to deliver long-term value to shareholders."

So our questions are answered. Taurus look to be with us for the long haul with Mr He and Mr Yu keen to see the NRRP projects develop. That leaves Me and You waiting for the next announcement regarding the development plans for the namib copper and lead/zinc mines. The market seems to like this announcement and notice 2 x 500K buys going through today. I would say this marks a turning point for the company and blue syies ahead.

Its the markets & the Euro/debt crisis, which will probably go on for most of this year and there is nothing we can do about that. It is not NRRP, who have cash in the bank, two great projects ready to go and a large shareholder with cash. Our immediate concern is what their intentions are regarding NRRP and the board are currently in discussions regarding this. This is the next piece of news we are waiting for and things will probably pick up from there. Keep the faith

I included a link to a Bloomberg article re the lead shortage. I havd just noticed it also states "An average ton of ore now contains about 2 percent lead, compared with almost 3 percent in 2000, Macquarie data show." Now if we refer to the recent NRRP y/e 12/11 a/cs, when discussing the Namib Lead & Zinc mine, they state "Grab samples collected for preliminary metallurgical test work assaying 5% lead ('Pb'), 10% zinc ('Zn') and 119g/t silver ('Ag')". I appreciate that there may be a difference in comparing rates per ton & those of 'grab samples' but nevertheless, NRRP lead grades do appear to be more than twice the average grades. We had already discussed the copper grades revealed in the earlier 2/2/12 RNS and established both the Malachte Pan & Koperberg prosect were high grade (by todays standard) - see my post 2/2/12. So, two high grade prosect ready to go. I think things will move faster than we expect.

Just to cheer you up, my average is 2.175p but are we down-hearted - no we are not! The whole market is down and the miners have been hit hard - way oversold in most analyst's views but these are days we are living in. The Euro crisis will not go away so we will just have to sit it out. Do not worry. The minerals in the ground are not going away and we have £3.76M in the bank for work to prepare bringing the copper/lead projects to life. All we need is for the BOD to let go of the Uranium (hopefully for a bit more cash) and get the major investors (whoever they turn out to be) to back them and we will be on our way. By the end of the year, these depressing days will be a memory and people will be scrambling to get on board before they miss the bus. Just take the long view and CHILL!

"All indications, including the high grade drill intersections achieved during the year, are that the Namib Mine can be developed into a profitable and medium life mine, while preliminary results indicate that a similar situation can be achieved at Malachite Pan. The Directors view the conceptual production rates of 250,000 tonnes of ore per year from the Namib Mine and production rates of 8,000 tonnes of copper per year from Malachite Pan as credible target production levels, and planning is progressing on this basis." The copper resource is high grade (by today's standard) and there is a lead shortage, so the price is set to go higher - http://www.bloomberg.com/news/2012-05-14/lead-shortage-looms-in-13-on-record-demand-for-batteries.html -and NRRP are well placed to meet the demand "North River will likely commence mining operations at the Namib Mine in 2012 in order to conduct exploration openings for underground diamond drilling." After reading the report, I feel very bullish about this share. Once we get our 'ownership/partnership' details sorted out and make sure we have a partner committed to the development of these two projects, we'll be in production in no time. Lighten up guys - this share has fantastic potential and we will not have to wait years before things get started.

Taurus may not have any strategic vision for the company, their original goal being to buy KAH soley for the uranium resource and NRRP are just part of the 'baggage' that came along with it. Being 100% owned subsidiary of CGNPC Uranium Resources Co., Ltd. the role of Taurus is to secure nuclear fuel supplies and they are probably now scratching their heads wondering what they do with their 'inheritance'. They probably have an eye on the balance of Brandberg, that they do not already own and may make a bid for NRRP's interest, boosting NRRP's cash balances and maybe then sell off the rest of their NRRP shareholding to regain some of their original outlay (?). NRRP might then get an interested party move in, keen to start developing the Namib & Malachite resources . I think I would prefer this option.

We have a 'heads up' on the Brandberg drill results and they do not appear to be encouraging - "The Company is awaiting results from a selection of samples submitted for laboratory analysis however results obtained electronically in the field were typically less than 300ppm. The Company does not regard the drilled targets as having significant future potential. Once the final laboratory results are delivered, the Board of Brandberg Energy will decide on the future of the projects." The Namib Lead-Zinc Project and the Malachite Pan copper deposit look like viable projects for development - " The standout progress for the year has been the continued emergence of both the Namib Mine and Malachite Pan as likely development projects. All indications, including the high grade drill intersections achieved during the year, are that the Namib Mine can be developed into a profitable and medium life mine, while preliminary results indicate that a similar situation can be achieved at Malachite Pan. The Directors view the conceptual production rates of 250,000 tonnes of ore per year from the Namib Mine and production rates of 8,000 tonnes of copper per year from Malachite Pan as credible target production levels, and planning is progressing on this basis." The report further states "North River will likely commence mining operations at the Namib Mine in 2012 in order to conduct exploration openings for underground diamond drilling." Time for NRRP to decide where they must focus their energies and start to develop some of their resources. Crucially, they must establish what the relationship withy Taurus will be and how they will feature in the company's development - something they are working on - "The Board is in discussions with representatives of Taurus with regard to Taurus's long term strategic vision for the Company." Overall, a good report and plenty there to give investors encouragement. In my view, time to focus on the 'Namib Mine' & 'Malachite Pan' and start to move to get these into production, at the same time as shelving interest in Brandberg.

Thank for response. Very difficult to know where Taurus are going with this - having acquired NRRP by default. Knowing the parent company is focused on securing uranium supplies, I guess they will hang around and wait to see if EPL 3327 and EPL 3328 are worth exploiting and that being the case, they will make an offer to secure 100% control. Having done so, they might sell their 38% stake in NRRP as there is nothing there which is of strategic interest to them and recover some of their original outlay. At that point, I fancy the old KAH people, flush with cash, would come back in and fill the void.

advising the start of 2,000m drill programme at EPL3327 did not state when they expect to complete or when we might expect results. Anyone care to make an educated guess? Good results from the Uis Project might persuade the Taurus to 'finish the job' and take 100% control of the uranium resource and sweep up the rest of NRRP.

We still do not know what the game plan is for Taurus. The parent company exists to secure uranium supplies for it large and growing nuclear power plants and my guess is, that once brandberg is proved up, they will bid/buy up the share theydoe not net own and then split that away and what's left of NRRP will be sold off to recover some of their initial outlay.

http://www.investegate.co.uk/Article.aspx?id=201204160700213537B They seem to have made a good start to getting this mine back into operation. Small samples taken but grades look good. "These test results give us confidence that marketability studies on the potential concentrate product will be positive."

yours 10:32. If you consider the price Taurus (CGNPC) paid for Husab, then you simply have to imagine that if the Uis project, containing prospects EPL3327 & 3328 turn out to be as prolific, then you will start to get an idea of what the NRRP sp might be worth. The RNS 2/3/12 notified us that the 2,000 metre drill program at EPL 3327 has commenced and before too long we will get the results of that exercise. If it reflects the same grades as Husab, then NRRP will truely start to look like 'Son of KAH' and the more testing that gets done, the stronger the sp will become and at some stage, before the price gets too high, I guess Taurus (CGNPC) will make their bid for the rest of NRRP. The problem for the NRRP directors will be where to pitch the acceptance price, knowing the worth of their assets in the long term for an acceptable price in the short term - an sp in double figures without doubt. Looking forward to those first EPL3327 results.

31/08/11 preliminary results http://www.investegate.co.uk/Article.aspx?id=201112050700193098T Been in and out of this one and currently on my watch list. Costs are still a problem and note "VGM sold 53,461 ounces of gold in the year at an average cost of US$1,349 per ounce." They need to mine higher grade ore + sort out the proposed bagas power plant, which looks like it will not get started until 2013 "During the period, the proposed power project to be developed by the Fiji Sugar Corporation ("FSC") at the nearby Rarawai Sugar Mill was the subject of a bankable feasibility study. The project has been designed to produce sufficient power for both the Rarawai Mill and VGM. The capital cost is estimated to be in the region of US$130 to US$160 million depending on an owner build or construction contractor option. Construction is scheduled to begin in calendar 2013 subject to finance. The FSC is currently in negotiations to secure finance, with VGM looking to enter into a long term off take agreement and if possible acquire an interest in the project. We believe that a long-term power supply from a source that is not beholden to the international hydrocarbon price would provide a large benefit to the long-term operations at the Vatukoula Gold Mine through lowered operating costs." Looks like it will have to stay on my watch list a bit longer - although if the gold price takes another leg up, it could become more attractive.

http://www.investegate.co.uk/Article.aspx?id=201105180730018084G 1.118m ilb resource with improved grades Looking good

was made on the same day the annual results were announced, which investors should take as a vote of confidence. The progress reports suggested they were not far away from a transfomational leap forward. As RefineryQS eagle eyes pointed out yesterday "All it takes is one or two drill holes through a buried copper-rich chalcocite blanket to move VANE up the ladder from a junior company."