Member Info for Petronius

share. Easy way to get access to TSX listed shares but 6p against book value of 3.37p does not look good value. TIM doing well out of it with management fees and as silver is on a one way journey looks like each quarter will see more shares issued. Nice work if you can get it. I'm a big fan of silver but can't see there is much upside for the ordinary punter in this share. Its a safe haven to shelter from any coming storm and might yet find myself taking refuge here but for now I'll look for opportunities elsewhere.

Thanks for updates. Been watching this one for a short while, trying to come to a view on prospects. Having been involved with investment companies in the past, they tend to be fairly sluggish affairs, with constant dilution of the sp with cash raising to cover costs and finance investments. The decent gains come from investing direct in the working company itself but most of the silver miners are on the TSX which is where I recently had to go to get into Apogee (APE). So at least, WSAG gives an easy route into these miners but stellar growth? - I'm not so sure. Perhaps it might offer a safe haven and steady growth over the long term. Mmmmmmmmm I think I will keep it on my watch list a bit longer.

http://www.investegate.co.uk/Article.aspx?id=201103020700111239C good cash generation and reduction in net debt by £1.16M to now stand at £264,000. Pre-tax profit £432,000 and cash balances £346,000. Against a background of a still weak economy, a good result.

We have seen a 50% increase in share price over the past 5 days trading without the support of any hard news. The last drilling update 11/10/10 stated "The Company expects to complete phase 2 drilling, subject to weather conditions, by year end and will provide further updates in due course." However, the most recent indication of drilling results came from the June 2010 year end a/cs, signed off on 16/11/2010 which stated: "The Company completed phase 2 drilling on 12 November 2010. We are still awaiting the majority of assay results from the programme. The processing of this data will advance our understanding of the mineralisation controls and help us generate valid drill targets for future drilling programmes." In addition they state "The results of the 2010 exploration programme have been very encouraging and we are confident that this new knowledge is the foundation for the success of the Mtonya project." So the drilling program ended 12th November and results at that time were "very encouraging". The increase in share price seems to be in expectaion of the next RNS which we might reasonably expect in mid January (? - anybody care to hazard a guess?). Shareholders have every reason to be confident as the MD's report states "We believe that we are operating in an emerging uranium province that has already yielded quality projects for both Mantra Resources Ltd and Paladin Energy Ltd." (These companies are currently trading at A$7.86 & A$4.95 respectively). The next serious leg up for this share comes with the next RNS detailing the drill program results. GL all.

you could take the view that before Estes Ltd committed to a further investment in URA, they would have had access to the latest drill info available and the latest investment (which takes their interest to 33.7%) is a vote of confidence.

Sounds like you are having a great time and long may it remain so. My observations were of course, tongue in cheek. GL all investors here, whatever our goals.

you give an interesting perspective on investor behaviour. On other boards, when the price starts to move, guys start speculating on whether its going to be a Ferrari or a Maserati or how much they are going to pay off the mortgage! You are definitely a party person who likes to plan ahead for the big event. I am sure you will be a big hit. In the meantime, for all the Scrooges who humbug at such frivolity, here's some encouragement not to fritter away our early advantage in URA because the big prize (and I'm talking serious retail therapy here AnitaD) awaits: http://www.marketoracle.co.uk/Article24089.html

Phase 1 completed and although "The Company is yet to receive all assays for phase 1 drill holes" ....... "Management believe these have potential to host large-scale uranium mineralisation." Phase 2 of drilling programme under way. Looking good!!

It is in the Chairman's Statement of the latest RNS dated 20/09/10, 3rd paragraph from the end.

As the current market cap is £30.2M I am not sure why he would want to mention £25M valuation. Good to see you are also showing an interest in HZM and hope to post more in future but in the meantime, just keeping a watching brief. Lets see how things work out. GL

In the RNS David Hall states " (HZM) ... potential world class project that supports a £25M valuation for your company." Given there are 246.56M shares in issue that would give a share price against book value of 10p so if anything, HZM a little overvalued at this stage at 12p, which may explain some of the sell off. If it drifts down then I see 9p as a reasonable entry point.

with two directors both adding 2.5M shares last Friday and with the analytical and assay results for Hole 1 at the Mtonya prospect due 'shortly' , guess we could be hearing some good news

http://www.investegate.co.uk/Article.aspx?id=201007121035031858P

http://www.investegate.co.uk/Article.aspx?id=201007121030031856P

Thanks for that - it all becomes clear. Going back to the last RNS 14.06.10 "In Phase 1, totalling some 1,500m, the Company intends to drill three deep diamond core holes to extend already known mineralisation and test new prospective areas. It is expected that Phase 1 will be completed between late July and early August 2010." - so just the 3 holes (of varying depths) totaling 1,500m in all. Simples!

I suppose the answer is, that if you do not drill down deep you will never know whats there and the object of the exercise is to establish the precise geology of the region. No expertise here either, just trying to read between the lines. Lets hope they find what they are looking for.

The drilling program aims to firm up the geology of the area and help them determine the ore quality, where it lies and how much there is. High grade ore will mean low cost production and this is where the $30 / pound comes in. Its the cost of production that will determine the profitability of the venture. You will recall in the RNS they referred to "The Mtonya Prospect is located in the Selous Basin, Southern Tanzania, a known uraniferous district which has yielded the Nyota Deposit for Mantra Resources Ltd ..." If you refer to Mantra Resources web site, it states "The results of drilling at the Company’s flagship Mkuju River Project ('the Project') in southern Tanzania have confirmed the presence of multiple thick zones of sandstone-hosted uranium mineralisation at shallow depths at the Nyota Prospect ('Nyota' or 'the Prospect'). A Mineral Resource of 84.3 million pounds U3O8 (34% Indicated, 66% Inferred) has been estimated for the Prospect, and the potential exists to substantially grow the resource base with ongoing work." and you will note their shares are currently trading at A$4.50 on the Oz exchange (MRU) & C$4.00 on the Toronto exchange (MRL). (Shallow depths" also infers low production costs). Looks like the results of Phase 1 will be known sometime in August, before phase 2 begins.

http://www.marketoracle.co.uk/Article20387.html "But what the world is lacking is low-cost production. Anyone who can come up with a sub $30 deposit capable of producing on any kind of scale will have something very valuable to the world's uranium producers, most of whom are still skeptical about buying projects with costs above $40. The successful team is going to make a lot of money."

I hope the season you had in mind was the 'party' season (Christmas) because I can't see results coming out much before then. Still, if Mtonya is everything its cracked up to be, it should be worth a celebration. GL

Drilling program begins http://www.investegate.co.uk/Article.aspx?id=201006140700185008N