Member Info for refineryQS

It's nice to see Vane bucking the market trend today. We should be about due an update on the copper drilling. GLA

Mexican gold & silver quarterly operations update covering the period 1 January to 31 March 2012 ("Q1") VANE is pleased to announce an operational update on its gold/silver operations in Mexico. The Company announces that the increased revenue from its Mexican operations experienced in Q4 2011 has continued throughout Q1. Highlights · Total revenue of US$2,612,564 generated in Q1 (Q4 2011: US$2,692,093) · 8,113 tonnes of ore in total processed by SDA Mill during Q1 (Q4 2011: 7,802 tonnes) with average grades 6.87g /T Au and 156g/T Ag (Q4 2011: 8.06g/T Au and Q4 2011: 127g/T Ag) · Average recovery rate of 80.3% Au and 77.0% Ag (Q4 2011: 78.2% Au and 70.9% Ag) · 1,180 oz. Au and 26,164 oz. Ag produced in Q1 at a direct production cost of $582 equivalent per oz. Au; or $10.7 equivalent per oz. Ag (Q4 2011: 1,352 oz. Au and 19,410 oz. Ag produced at a direct production cost of $585 equivalent per oz. Au; or $10.8 equivalent per oz. Ag) · 70.8 tonnes of concentrate held in inventory at period end (Q4 2011: 68.6 tonnes) · All gold and silver sold unhedged The Company announced on 6 February 2012 that in addition to the normal production from the La Colorada Mine, work had now commenced to remove an identified 3,200 tonnes of higher grade ore from the Diablito Mine ahead of its planned closure later in 2012. Of these 3,200 tonnes, it is expected that approximately 1,600 tonnes of high grade ore (17.9g/T Au and 1,801g/T Ag) will be processed through the Company's Merrill Crowe facility at the rate of 80 tonnes per month, with the remaining ore (2g/T Au and 200 g/T Ag) stockpiled. The first revenue from this additional production is expected to be recognised in Q2 2012. Commenting today, David Newton, CEO of VANE said: "Q1 production continues to meet forecasts and our in-house evaluation work during the period indicates security of production moving forward. Our Mexican operations continue to fund our copper and uranium exploration programs on which we will provide updates as appropriate."

three sizable buys this morning have led to the tick up. Just regaining ground lost through the euro shambles

I'm not sure I want to see any news until the euro shambles is resolved

good post lol most of my portfolio is looking like a long term investment at the moment GL

I think the macro-economic climate is far more of a threat to our potential profits than anything in the statement, but I agree it does get very depressing. On the upside the price of copper is still going up to the point that the govt are now nickel plating coins http://www.bbc.co.uk/news/health-17773007

So are you saying your impressed or that you sold out? If you sold out why are you posting?

The progress that we have made this year in both our copper and uranium exploration programmes and our precious metals production business in Mexico is substantial. Our post year end announcement of initial drilling results at McGhee Peak, where we drilled into a copper-molybdenum porphyry system, is a positive development for the Company and we will announce further drilling results on this property throughout the course of 2012. Our copper exploration programme is exciting interest and despite two negative drilling results in 2011, at our projects at Yuma King and Granite Gap, we remain optimistic for both McGhee Peak and our other identified projects which will continue to be tested throughout the current year. Our uranium exploration programme in northern Arizona has progressed well through our joint venture with Uranium One. During the year, a NI 43-101 Inferred Resource amounting to 1.118M lbs eU3O8 was confirmed at our Wate project and drilling at our Rose project has produced positive results which we hope to be able to convert into a NI 43-101 compliant resource during 2012. Post year end, the U.S. Secretary of the Interior announced the anticipated withdrawal from uranium mining activity of one million acres of federal lands in northern Arizona where VANE held substantial interests. Whilst this announcement was disappointing, we had amended our exploration plans in July 2009 such that since then, we have only drilled on state lands, which haven't been affected by the withdrawal. Regardless of this, the Board continues to believe in the long term fundamentals of nuclear energy and the outlook for uranium in 2012 and beyond. Our Mexican subsidiary, Minerales VANE SA de CV, has made significant progress in increasing its financial contribution to the Group. During the course of 2011, production switched from our 100% owned Diablito Mine to ore produced from our joint venture with the Ruiz Brothers. As a result, grades and recovery rates improved leading to more revenue being generated and we have been able to announce that in the fourth quarter of 2011 the financial contribution from Minerales VANE covered the entire costs incurred by the Company for that quarter. The fund raising during the year and the appointment of David Newton as our new Chief Executive leaves us in a strong position both financially and operationally and gives us the opportunity to grow the business through further exploration drilling on our copper and uranium assets, whilst the continuing success of our Mexican business provides the funding required to provide financial security for the Company. We remain confident that the fundamentals for copper, gold, silver and uranium will remain strong in the medium to long term and we would like to thank our investors for their continuing support. We look forward to updating you with our progress throughout the rest of 2012.

Final Results for the year ended 31 December 2011 Notice of Annual General Meeting Financial Highlights · £3.68 million revenue (2010: £2.56 million) · £1.60 million loss after tax (2010: £2.1 million loss after tax1) · Raised £1.16 million before expenses in a successful fund raise during October 2011 · Cash balances of £2.30 million as at 31 December 2011 (2010: £2.75 million) 1Restated, see note 3 Operational Highlights · Appointment of new Chief Executive Officer · McGhee Peak commenced drilling in late 2011 and resulted in VANE successfully drilling into a clearly identified copper-molybdenum porphyry system. Yuma King and Granite Gap copper targets drilled with negative results · Pre-feasibility work continues at the Wate uranium project · High-grade uranium encountered at the Rose project · Improved production with higher grades from Mexican gold and silver assets Post-Period Highlights · Diamond drilling programme initiated at McGhee Peak · Drilling commenced at Peg Leg copper target · Revenues arising from Mexican gold and silver production remain robust · U.S. Secretary of the Interior, Ken Salazar, announces the withdrawal of northern Arizona federal lands from all new exploration and mining activity David Newton, Chief Executive, commented: "The year under review was one of progress for the Company, progress that has accelerated into the current year. The first drilling results from McGhee Peak were encouraging, whilst the qualities of our Mexican assets can now be demonstrated over a meaningful period. VANE is in a robust position both operationally and financially, with the downside risk mitigated by the cash flow generated in Mexico and the profile of our exploration assets strengthened." VANE also announces that the Annual General Meeting will be held at the offices of Allenby Capital Limited, Claridge House, 32 Davies Street, London W1K 4ND at 10:00 am on 31 May 2012, notice of which will be posted to shareholders along with the report and accounts by 20 April 2012.

No, I think it's more to do with the macro economic climate

absolutely and at the moment Vane is most definitely under the radar. It's just a matter of patience

Nice find, thanks for sharing. my favourite sentence: 'in the last quarter, and for the first time, the Mexican operations have covered all of VANE’s costs' How many AIM explorers are in that position?

maybe we'll see it tick up before the end of play

@ 1.285

A steady (and sustainable) rise is what we'll see (hopefully) and that won't come until we get further news on resources. Drilling is ongoing at both the uranium targets and copper. No need to shout ;)

A New Delhi conference last week reaffirmed India's commitment to nuclear energy. The country's new limited liability rules for resolving risk impediments for uranium producers and equipment suppliers in the case of a serious accident at an Indian nuclear power plant should see a positive outcome for uranium producers. Presently, as much as 50 percent of India's 1.2 billion citizens do not have access to electricity. A rapidly growing economy has placed a heavy demand on energy sources and electric power, but while reforms to improve efficiency and competitiveness in the power sector have been developing over several years, a continuing power access shortage is a major constriction for industrial capacity. India only consumes the sixth-highest amount of electricity despite being the second most populous country in the world. As a comparison, this represents only 8.5 percent more electricity than Canada, which as a country consumed the seventh-largest amount of electricity in the world. On a per capita basis, the average Canadian consumes 32 times as much electricity as an Indian citizen. A green environment Introducing nuclear power on such a large scale represents a greener policy for India. Currently as much as 56 percent of the country's energy solution is reliant on coal burning operations. The growing expectation for energy demand and population forecasts give insight into the significant challenges posed for a country with a massive population and concern for secure, safe, and reliable sources of energy. The objective for India is to supply as much as 25 percent of its electricity through nuclear power by 2050. The country generates approximately 2.9 percent of its electricity from nuclear power, so future demand on global uranium and nuclear industry expertise will be considerable. A forecast from the International Energy Agency indicates that India will be adding between 600 and 1,200 GW of additional new power generation capacity to meet targets for 2050. The country expects to import light-water reactors in order to supplement a domestic three-stage fuel cycle that will eventually bring in thorium to complement current uranium-fuelled units. http://www.u3o8.biz/s/MarketCommentary.asp?ReportID=510461&_Type=Market-Commentary&_Title=India-conference-confirms-commitment-to-nuclear-future-India-Conference-Con...

I think Handy meant that he wasn't waiting in vane. check out the proactive presentation and the video I posted a few days ago: http://www.vaneminerals.com/userfiles/file/vane-presentation-proactive-feb-2012.pdf GL

It would be very nice to get back to the 3p range, although if the copper find is proved to be economically viable it's anybody's guess where this could end up. Up seems to be the only direction in that case. GL

Great interview with VML CEO David Newton http://www.proactiveinvestors.co.uk/companies/stocktube/1034

The UK is to sign a deal with France to strengthen co-operation in the development of civil nuclear energy. The government says it reiterates the UK's commitment to nuclear energy "as part of a diversified energy mix". The coalition says the agreement will create a number of commercial deals in the nuclear energy field, worth more than £500m and creating 1,500 UK jobs. http://www.bbc.co.uk/news/business-17069455