Member Info for refineryQS

Steve, I think this has a very biased spin on it. "We're not building new nuclear power plants in this country and we haven't for 20 years." compare with this from the world nuclear association: The USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity. The country's 104 nuclear reactors produced 799 billion kWh in 2009, over 20% of total electrical output. Following a 30-year period in which few new reactors were built, it is expected that 4-6 new units may come on line by 2018, the first of those resulting from 16 licence applications to build 24 new nuclear reactors made since mid-2007. Government policy changes since the late 1990s have helped pave the way for significant growth in nuclear capacity. Government and industry are working closely on expedited approval for construction and new plant designs. http://www.world-nuclear.org/info/inf41.html

I was reading about oil prospecting last night. Only 1 in 10 drills find oil but only 1 in a 100 are worth exploiting and fields generally take 10 years to go from exploration to production

I wish I had been but you can't win 'em all. I agree on the irrational investors, but I've only taken a very small holding and I'm treating it in the same way I would if I threw some money on the roulette table

'Uranium-oxide concentrate for immediate delivery traded at $72.25 a pound in the seven days ended yesterday, down 1 percent from the week before,' however, the future is still bright: 'More than 150 new reactors are planned worldwide by 2030, with China planning 110 units, according to data compiled by the World Nuclear Association. Uranium prices, which reached a high of $136 a pound in 2007 before falling to about $40, have risen since mid-2010 as China increased the use of nuclear power to curb emissions from burning coal. ' http://www.bloomberg.com/news/2011-02-15/uranium-declines-1-first-drop-this-year-uxc-says-correct-.html

I have BEM, BMR and SNRP in addition to this and took a small punt for fun on SAR a few days ago when it dropped to 1.3

morning all GLA

ba-dum-tsh! He's here all week If the economics doesn't pay off there's always a spot on open mic night ;D

I had a quick scan through it as well. Plenty of trash talk but nothing that was reasoned or evidenced. I'm happy with the figures I've kicked about and happy to hold and top up on the dips. GLA

Good morning Stel, I got the rates for ore from the RNS regarding the test and the monthly throughput, the cost per tonne came from the asset section of Vane's website and the spot price from the commodities exchange (yesterday's closing prices)

egad! I'm outnumbered. Yes I believe this is undervalued and a good buy but as ever don't take my word for it DYOR ATB

Bang on. It's the spot price and the poundage which are the key factors ...and a latin student too ;)) I won't embarass myself by trying to remember any from my school days I think the gold and silver will help to underpin the other operations as that is already a producer The copper isn't really on the horizon yet imo but has the potential to be as big a game changer as the uranium as we are looking at potentially a similar gulf between supply and demand in the coming years

With regard to the gold mining we seem to have a pretty good deal through the newly announced JV: 'Under the terms of the Agreement, any net profits generated by these high-grade mines will be split on an 80:20 basis in VANE’s favour until such time as VANE has recovered 150% of any outlaid development/capital costs incurred by it in connection with, amongst other things, upgrading the mining and transportation equipment at these mines as well as the development of resources and the construction of a new mill if warranted. Thereafter, any net profits will be split on a 60:40 basis in VANE’s favour....VANE’s wholly-owned subsidiary, Minerales VANE SA de CV, will oversee the exploration and mine planning, provide project financing and make available its SDA Mill (flotation/cyanide processing plant) near Acaponeta, Nayarit, Mexico. The Ruiz brothers will be responsible for mining and the transport of the ore from the mines to the SDA Mill.' Vane own the mill and get to upgrade it, build a new one and pay for it with profit from the JV whilst Ruiz brothers do the donkey work. Based on the RNS the throughput for November resulted in: 162.029 ounces of gold @ $1,372.75 14330.967 ounces of silver @ $30.72 If we assume that these figures are indicative of monthly production that would give us a monthly turnover of: $222,425.85 gold and $440,247.31 of silver Monthly combined = $662,673.15 Annual = $7,952,077.84 cash cost @ $103 per tonne: monthly = $278,100.00 Annual = $3,337,200.00 Profit monthly = $384,573.15 Annual = $4,614,877.84

Hi mate, good stuff. Your estimate of 700,000lbs per pipe seems very conservative indeed. Wate pipe has an historical JORC equivalent (Canadian CMI) of 696,000lbs and Vane are moving to a minimum resource classification of atleast 1million lbs from surface drilling. As I understood it they expect it to be atleast 3 times that in actuality which won't be confirmed until they drill a horizontal exploitation shaft. They are projecting an average of 3.4 million lbs per pipe. It's also worth noting that they will get a greater proportion of the profit until 150% of the CAPEX is recovered. They already have 3 confirmed targets with a greater than 1% intersect (which includes WATE pipe) If you look at the projection for U3O8 demand we haven't yet hit the real divergence between supply and demand as a good portion of our current supply comes from existing stockpiles set to run out towards the end of 2012 so I think the stability in uranium price is set to continue: 'Today, TD Newcrest analyst Creg Barnes raised his uranium price forecasts for 2011 through 2014, as well as in the longer term. He now expects the spot uranium price to average $75 (U.S.) a pound in 2011, up 20 per cent from his earlier forecast. His long-term price, which starts in 2016, was raised to $70 a pound.' http://www.theglobeandmail.com/globe-investor/investment-ideas/features/eye-on-equities/analysts-hike-cameco-price-targets-on-uranium-spike/article1906558/ 'What are the main obstacles to VML getting in gear and producing ASAP? ' I don't think that production is really Vane's intention, according to the joint venture with Uranium One it seems that the exploration and mineral resource classification (which makes it a bankable asset) will be handled by Vane and the exploitation and milling by Uranium One.

nice 400k buy earlier at full ask of 3.75

Morning mate, I'm pretty sure it's still not working. TDW is advising people to remove stop losses and trade manually due to software problems. Regarding your other questions, I'm massively busy at work at the mo but I'll try and get some time later. I haven't looked into the gold much beyond the fact that it's generating $200k per month

It's very frustrating. I'll re-jig the analysis figures tonight to include the CAPEX and OPEX costs across the range and try to include the details of the JV's to give us a more accurate idea of what the future SP could be

Good morning people thanks for comments. Lets hope it's a good week for Vane GLA

digital look is showing two trades today. a sell of 5,216 @ 57.00p at 8.26am and a buy of 50,000 @ 60.00p at 12:18 maybe it's just a flat day trading wise

seems lse isn't showing trades for DEO try here: http://www.shareprice.co.uk/DEO/DEO-PETROLEUM-PLC

I was unsure what a reverse take over was so I googled it: 'In a reverse takeover, shareholders of the private company purchase control of the public shell company and then merge it with the private company. The publicly traded corporation is called a "shell" since all that exists of the original company is its organizational structure. ' 'Other shareholders that have held stock as investors in the company being acquired pose no threat in a dump scenario because the number of shares they hold is not significant and, unfortunately for them, they are likely to have the number of shares they own reduced by a reverse stock split that is not an uncommon part of a reverse takeover.' I still have no idea why this isn't trading today.