Member Info for refineryQS

I'm good thanks, with the buys that are going through today we could potentially see that this long anticpated news has no effect on the SP. It's not as if they have withdrawn areas that we are working on and Vane have plenty of other targets not in federal lands.

some solid buying going on this morning

VANE Minerals (LON:VML) confirmed this morning that its Wate and Rose uranium projects are unaffected by proposed legislative changes that will see the withdrawal of 1 million acres of federal land in northern Arizona from mining activities. The group had already significantly reduced spending on the areas in question, and will maintain a small exploration programme on state lands, which includes Wate and Rose....VANE’s at present is on a high-impact exploration programme in America’s copper belt. According to Allenby Capital the discovery of a porphyry deposit from one of 22 untested targets in Arizona and New Mexico could be utterly transformational. Using a sliding scale depending of the size of deposit uncovered, the shares could be worth between 2 pence for a discovery with 200,000 tonnes of contained copper through to 104 pence for a 10 million tonne resource, it said. http://www.proactiveinvestors.co.uk/companies/news/37628/vane-minerals-says-federal-embargo-largely-anticipated-37628.html

good luck, I usually fail at that like Hoopoe. I'm going to try and average down over the next couple of months.

no suprises there

anything is possible if they hit a big copper vein, but I'd be happy to see the banking crisis out of the way and Vane back closer to it's real value. Recent events have caused this to be massively undervalued. I'll be buying more once christmas is out of the way.

16 December 2011 VANE Minerals plc Project Update - Rose Uranium Breccia Pipe, Northern Arizona VANE Minerals plc ("VANE") is pleased to announce an update on its drilling activities on the Rose uranium breccia pipe project (the "Rose Project"). This exploration is carried out by its wholly-owned subsidiary, VANE Minerals (US) LLC under an agreement with Uranium One Exploration U.S.A. Inc. ("U1"). Highlights · Two additional deep holes completed with the following main mineralised intercepts: o Hole 11-R-5; 1445.5 - 1458.0ft (12.5ft) averaging 1.82% eU3O8 o Hole 11-R-6; 1521.0 - 1542.5ft (21.5ft) averaging 0.09% eU3O8 · Mineralisation in excess of +1% eU3O8 has now been encountered on the project over a horizontal distance of 145ft and vertical extent of 260ft David Newton, CEO of VANE Minerals said "These are promising drilling results, particularly when coupled with the results of the previous drilling on the project. Further drilling will continue at Rose with the aim of establishing an NI 43-101 compliant resource, which will add to our existing resource of 1.118m pounds at our Wate project." Background The Company has now completed five deep holes on the project and, combined with historic drilling consisting of three deep holes, the results continue to be very encouraging. To date, 6 of the 8 deep holes have encountered +1% grade uranium mineralisation extending for over 260ft vertically and horizontally, 145ft in an east-west direction and 100ft in a north-south direction. However, within this drill area is a gap of about 100ft x 60ft which is untested and it now appears that the drilling has only tested a small portion of the east and north parts of the pipe leaving the west and south part of the pipe left to explore. The mineralised intervals have been encountered over significant distances that, if continuous, would be sufficient to develop economic resources. Additional drilling is required to prove the continuity of the ore-grade mineralisation to establish NI 43-101 compliant resources. The drilling programme has been suspended for the winter season and interpretive work continues with a view to planning the next phase of drilling subject to mutual agreement with U1. http://www.investegate.co.uk/Article.aspx?id=201112160700080901U

http://www.proactiveinvestors.co.uk/companies/stocktube/948 David Newton, CEO of VANE Minerals (LON:VML), tells Proactive Investors that while VANE has a revenue stream coming in from its gold and silver mining operations in Mexico, the company remains focussed on drilling in Arizona for a large copper porphyry. David says that the potential is “multi-billions of dollars”.

dummy buy at 1.05 which would make the 250k trade a buy

nice to start the day with a tick up

dummy sell @ 1.01 dummy buy @ 1.03 not sure if the 250k trade is a buy or a sell

great stuff today, solid volume, nice tick up and firmly in the top risers list for the day

it would be a great end to a crappy year

another tick up

steady buying this morning has finally seen this tick up...but for how long??

over 1.5 million shares bought today vs approx 400k sold

I haven't done much construction. I started in utilities and then moved to mechanical engineering (petro/chem). Are you an engineer?

When this moves, it'll move quickly and I think it'll shoot you back into profit in a big way

I think most of us are sitting on big losses after this year. Yes I'm a QS ;)

The valuations quoted by the VANE boss are benchmarked on the monster deposits that have already been discovered in the region and based on the current price of copper. It’s not the most rigorous mine maths, but it gives a hint as to the scale of the opportunity. Suffice it to say a discovery will see the world’s big miners sniffing around with Freeport probably at the head of the queue. “It has the right to buy 25 per cent if we find anything from their database,” Newton reveals. So there’s the opportunity, the big idea. However there are two other legs to the company. Uranium is the second. The group has assets in Utah and Arizona, where the uranium is found in breccia pipes. It has a JORC resource of 1.118 million pounds in its Wate Pipe and a joint venture with Uranium One. They are exploring the Rose Project in northern Arizona. Last month VANE unveiled results from three deep holes that were described as “encouraging”. However once it has discharged its drilling commitments, the uranium assets will effectively go on care and maintenance, though it will spend what is required to maintain its share of the U1 JV. The uranium market is emerging from a period of fragility induced by the Fukushima disaster. However, faint signs of life are returning and crucially consolidation is starting to take place. And Newton is conscious of action occurring around him. “There is an open question mark on what one does with the uranium,” he says. “There is some possibility for some corporate action. There may be some flexibility.” The company’s gold and silver operation was developed with the aim of helping part finance the company’s exploration activities. Its focus will be a joint venture with the Ruiz Brothers following the closure next year of the Diablito mine. The Ruiz JV is an 80/20 profit split in Vane’s favour until 150 per cent of capex costs are covered and then it moves to 60/40. VANE also has an SDA mill and flotation plant capable of processing 100 tonnes of ore a day and a Merrill Crowe cyanide leaching plant. In the quarter to September 30, Mexico’s total revenues were $433,691. The closure of the Peñoles smelter meant the company was left holding a concentrates inventory worth $1 million at that date, which have since been smelted and the revenue accounted for. The figures illustrate Mexico’s potential to generate income. However VANE is unlikely to be totally self-sufficient. In September it raised £1.16 million at 1 pence a share, which provides it with the funds to go after those big copper porphyries. The plan initially was to drill six holes per year, although the VANE CEO believes a more realistic target is one hole per quarter. “The excitement here is our drill programme, and the value-added is the access to the Freeport database and the individuals we have with the expertise to interpret that database,”