Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sorry I should have qualified that by adding that nothing was moving in a significantly positive direction
I think the macro situation is still having a negative effect of share prices. Certainly, nothing on my watch seems to be moving
14 November 2011 VANE Minerals plc (AIM:VML) ("VANE" or the "Company") Minerales VANE revenue update The Company is pleased to announce that the inventory of concentrates referred to in the Company's announcement on 9 November 2011, relating to production from August and September 2011 from its gold and silver producing operations in Mexico, have been received by the smelter and that revenue amounting to $998,798, net of sales tax, has been received by the Company, representing 85% of the total value of those concentrates. The remaining 15% of the value, amounting to approximately $168,000, net of sales tax, is expected to be received in December 2011. In addition, a further 76 tonnes of concentrate from milling which occurred in October 2011, has been shipped to the smelter. These concentrates have a projected value of more than $750,000, net of sales tax, and payment of 85% of value is scheduled to be received by 20 November 2011. David Newton, CEO commentated: 'Management would like to reiterate their confidence in the on-going operations of the Company. With an experienced Board and opportunities for growth, we look to the future with increasing confidence.' http://www.investegate.co.uk/Article.aspx?id=201111140700229700R
US POLITICIANS are at loggerheads over whether to allow uranium mining in north Arizona, near the Grand Canyon. Mining would create jobs, but might pollute the Colorado river, which provides the Southwest US with irrigation and domestic water. The White House wants to ban all new mining claims in the area for 20 years, but a group of Republicans is backing legislation that would render the ban meaningless. A steep rise in metal prices during the last decade led mining companies to register interest in exploiting thousands of new sites across the US, including several hundred near the Grand Canyon. In 2009, secretary of the interior Ken Salazar put a two-year freeze on anyone even seeking permission to mine in three areas around the Grand Canyon. The US Geological Survey has since found that uranium mining there could increase the levels of radioactive materials and heavy metals in the Colorado river. On 26 October, the Bureau of Land Management released its Final Environmental Impact Statement, which backs extending Salazar's moratorium for 20 years. Arizona congressman Raúl Grijalva praised the bureau's research, which he thinks will help maintain the Grand Canyon as a tourist attraction. However, Republican lawmakers, led by Arizona senator John McCain, have proposed a new mining act, which would overturn the ban and instead require Congressional approval for any moratorium. http://www.newscientist.com/article/mg21228373.400-row-over-plans-to-mine-grand-canyon.html
Highlights · 1,560 tonnes of ore mined from Diablito Mine in the Period at an average cash cost of $69/tonne(T) · 5,560 tonnes of ore mined from La Colorada Mine in the Period (part of the Company's Joint Venture ("JV") with Ruiz Brothers ("Ruiz")) at an average cash cost of $67/T · 8,022 tonnes of ore in total processed by SDA Mill during the Period o 2,706 tonnes of ore processed from Diablito with average grades 1.96g/T Au and 169g/T Ag at an average cash cost of $25/T milled o 5,316 tonnes of ore processed from La Colorada with average grades 5.17g/T Au and 105g/T Ag at an average cash cost of $24/T milled · Grades of up to 12.6g/T Au and 258g/T Ag realised from La Colorada post-Period · Average recovery rate of 75.9% Au and 69.9% Ag; improving as a result of addition of second vertical cell at SDA mill · Peñoles smelter resumed normal operations following temporary closure in September due to overstocking · Total revenue of US$433,691 generated in the three months to 30 September 2011. In addition, due to the temporary closure of the Peñoles smelter, the Company had a concentrates inventory awaiting smelting of approximately $1.0 million* as at 30 September 2011 (which has been smelted and the revenue accounted for post Period) · Merrill-Crowe recovery facility operational with third-party concentrate/ore being sourced · All gold and silver sold unhedged · Decision taken to close Diablito Mine during 2012 *Based on a gold price of $1,650/oz Au and $30/oz Ag
I was away in the US so I missed this little gem of an RNS: 28-October-2011 Rose Uranium Breccia Pipe Project Update, Northern Arizona VANE today announces a drilling update on the Rose uranium breccia pipe project (the "Rose Project") on which the exploration is carried out by its wholly-owned subsidiary, VANE Minerals (US) LLC in an agreement with Uranium One Exploration U.S.A. Inc. (“U1”). Highlights Three deep holes completed with the following main mineralised intercepts: Hole 11-R-1; 1295.5 – 1394.5ft (99.0ft) averaging 0.06% eU3O8 Hole 11-R-2; 1436.5 – 1439.5ft (3.0ft) averaging 16.45% eU3O8 Hole 11-R-3; 1429.5 – 1439.0ft (9.5ft) averaging 0.64% eU3O8 Mineralisation in excess of +1% eU3O8 has been encountered on the project over a horizontal distance of 100ft and vertical extent of 250ft Vertical extent of known mineralisation of 0.05% eU3O8 or greater expanded to 700ft The Company has completed three deep holes on the project indicating very encouraging results. Two of the three holes completed encountered +1% grade uranium mineralisation confirming previous historic drilling results at those grades. However, Hole 11-R-2 encountered an interval with a radiometric grade average of 16.45% eU3O8 with a maximum of 47.88% eU3O8, which is a substantially higher radiometric grade than had previously been encountered on any of the VANE breccia pipe projects.
VANE is pleased to announce that at the General Meeting of the Company held today all resolutions were duly passed. Application has been made to the London Stock Exchange for the 116,000,000 Placing Shares of 0.1p each to be admitted to trading on AIM and Admission and dealings is expected to occur at 8.00am on 27 October 2011. Following admission of the 116,000,000 Placing Shares, the total issued share capital of the Company will be 442,923,658 ordinary shares of 0.1p each. This figure may be used by shareholders to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA's Disclosure and Transparency Rules. Defined terms in this announcement should be taken to have the same meaning as set out in the circular which was posted to shareholders on 29 September 2011.
on Wednesday 26th October
no fundamental safety weaknesses have been identified in the nuclear industry within the United Kingdom. The 315 page detailed chronology and analysis does suggest that the nuclear industry can become even safer by focusing on 38 areas which can be learned from the Fukushima Daiichi accident. http://www.u3o8.biz/s/MarketCommentary.asp?ReportID=486188&_Type=Market-Commentary&_Title=Uranium-industry-support-from-the-office-for-nuclear-regulation
the whole directors pay (4 execs and 2 non-execs) totals £559,052. 4 directors are taking less than £25k p.a. Bloomberg calculates MC Idiens total cash compensation as £113,209 And don't forget that not all their funding comes from placements.
I can't find the information you refer to. Page 7 is about uranium. Page 40 and 41 has the director wages and the total for all is just over 500k with some of that taken as 'benefits in kind'
The Bank of England will announce its latest monetary policy decision at midday, with economists waiting to see if the central bank introduces more quantitative easing (QE). The Bank has already pumped £200bn into the economy by buying assets such as government bonds, in an attempt to boost lending by commercial banks. There has been much speculation that it will announce a further £50bn of QE. The Bank is also expected to hold interest rates at 0.5%. http://www.bbc.co.uk/news/business-15196078
General Meeting to be held on 26 October 2011
agreed, utter carnage today
well somebody seems certain. There is a £140k buy right at the close yesterday 11 million shares
mannan: I agree with Steve, bait. If you look at the trades today almost all have been buys. It's the most action I've seen on VML for a long time. Steve: Hi mate, yes I'm good thanks. The placing aside, I thought there were a lot of positives in the half year report. With the placement funding is now ensured for the drilling campaign. I was particularly interested to note that they have applied for an exploitation licence with Arizona for Wate pipe. And don't forget Wate pipe's JORC is based on shallow surface drilling: 'The completion of final surface definition drilling in early 2011 at Wate confirmed a minimum of 1.118M lbs eU3O8 contained in 71,000 tons with an average grade of 0.79% eU3O8' When it is finally exploited they expect to mine between 3-5 million lbs of uranium out of Wate pipe alone.
At these levels I'd definitely have a slice. Look at BEM as well. but as ever DYOR GL
my average is 3.2. sadly a bottom draw share for now
Dummy buys @ 1p
indeed