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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Peninsular | PGL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 6.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.25 |
| Top Posts |
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Posted at 21/1/2014 21:03 by aleoap Mining sector could see silver lining aheadthemalaysianreserve. The continuing global appetite for minerals could see the good times roll again for Malaysia's sleepy mining towns that have seen better days since the last mining boom in the '70s. Experts say rising prices for minerals have made it viable for companies to explore deposits, everything from iron ore to gold, to satisfy demands from growing economies, especially China and India. The Malaysian mining industry lost its shine with the collapse of the tin market in the 1980s, but experts believe there are deposits of minerals worth roughly RM336 billion still untapped underground that could turn unknowing landowners into billionaires. The mining sector, especially tin, was once the pillar of the Malaysian economy in the '70s but falling prices relegated its economic significance behind oil palm and property development. Besides tin, Malaysia is endowed with iron ore, gold, bauxite, coal and non-metallic minerals such as feldspar, kaolin, limestone and silica. Even in the doldrums, the mineral sector grew 9% in 2012, largely driven by robust growth in the iron ore trade. The value of major minerals produced rose to RM6.9 billion in 2012 from RM6.3 billion in 2011. The value of non-metallic minerals produced in 2012 was RM3.3 billion while metallic and energy minerals (coal) production were estimated at RM3.14 billion and RM0.44 billion respectively. Untapped gold, iron ore and tin ore deposits from Perak, Kelantan, Terengganu, Pahang to Johor are already drawing cash-rich foreign companies from China to Australia, who are pumping in millions of ringgit to extract these minerals. "More foreign investors are coming to Malaysia to invest in the mineral industry because we have political stability and good laws. "China has come in a big way, its demand will drive the iron ore market. In the next five years, more new gold mines will come up," Mustapha Mohd Lip, the deputy DG of the Minerals and Geoscience Department, told The Malaysian Reserve. Since 2008, Chinese companies have reportedly invested nearly RM2 billion to extract iron ore from Malaysia to feed its hungry steel mills. China's imports for iron are forecast to rise 6.3% or 850 million tonnes in 2014. Meanwhile, India is said to be looking at importing up to five million tonnes of iron ore to ramp up its own steel industry. "The industry's growth in 2014 will very much depends on how economies of the emerging nations led by China perform. "A substantial turnaround in their economic growth will certainly have a great impact on their demand for minerals and prices, which subsequently can create a positive impact on Malaysia's mineral resource industry," said Malaysian Chamber of Mines ED Muhamad Nor Muhamad. According to the Minerals and Geoscience Department, 13 tin mines, 102 iron ore mines and 15 gold mines are operating in the peninsula as of June 2013. Independent analysts estimate iron ore reserves at RM17 billion. In 2007, companies extracted 802,030 metric tonnes (MT) iron ore and jumped to 10 million metric tonnes in 2012 with a value of RM1.54 billion. More than 90% of the commodity landed in Chinese ports. Gold mining has been dominated by foreign-linked companies, for example, Raub Australia Gold Mining Sdn Bhd. The Penjom mine in Pahang is controlled by an Indonesian mining businessman while the Selinsing mine, also in Pahang, is owned by Canada's Monument Mining Ltd. Singapore-based iron ore compa ny Zhong Cheng Mining Sdn Bhd also owns and operate other mines in Pahang. Eastern Steel Sdn Bhd, a joint-venture company between Hiap Teck Venture Bhd and Shougang Group of China, manages the RM1.8 billion integrated steel complex in Terengganu. Brazil's Vale, the world's second- largest mining company, spent about RM1.3 billion to build the Teluk Rubiah iron ore distribution centre in Perak last year. The Malaysia Mining Club, a non-profit group that promotes the Malaysian mining industry, said things could move faster for the industry if the government removes bottlenecks that range from land allocations for mining, priority to small-scale mining and competing demand for land from housing, plantations and other industries. Club president Keith Vaz said the mining industry's revival should be supported because it offers spinoffs and downstream benefits. He said despite all the potential, the sector will remain sluggish unless the government supports it in a meaningful way. "The government should step in to work with industry players to revive mining again," he said. |
Posted at 25/11/2012 21:00 by aleoap 24,000oz pa is still not to be sniffed at however investors were under the belief that double this was possible. Still, its a profitable business and with au price getting ready to launch forward again they are in a good position. We need to know what is stopping the plant from running at its optimised rate, PGL if your reading this, detail in results please. |
Posted at 04/5/2012 22:37 by aleoap We should be due a production update soon along with JORC for Tersang before end of May. Any upside spike has to close above 25/26p and stay over for a week or two to clear this downtrend. I'm expecting production figures to be good and Tersang is of course positive so subject to promises being delivered we may see some positive movement.I've been collating data on the gold sector for a while now and it is very noticeable how the metal itself has performed vastly better than the stocks. Over the last 8 months (including May to date) Gold has outperformed 6 out of 8 months. Shares only doing better as a sector in Dec and Jan. Gold price has declined month on month since Feb however but has still lost less as a % than stocks over this period. I'm expecting a shift change from June onwards however. I'm expecting money to flow out of oil stocks and some find it's way to the oversold gold sector, this in part due to a faltering oil price (less profit for oil stocks but cheaper energy for miners). Of course there will still be 'hot' oil stories over the coming months, CHAR and FOGL are examples, but goldies are due an Oct 2010 style shift upwards soon. Incredible really that you can purchase AME at less than cash in bank, PGL with expected production of 50,000oz pa this year, OMI, SRB, CGH, MARL and others at these prices. As per Oct 2010 I'm expecting a rising tide to lift all boats, so it shouldn't make too much difference which stocks you are in as I imagine they will all get the same treatment bar a few basket cases, of which I don't believe PGL is one. Just a shame PGL don't have the same management as CNR, of which has stood up to the market manipulation due to it's strong team, ability to conduct PR, deliver on its promises and treat investors with respect. |
Posted at 24/2/2012 14:10 by aleoap It should be noted that many investors will not even begin research let alone invest in a producer that does not have a JORC of over 1 million oz. Looking at previous RNS for PGL I am trying to establish what we may expect from the upgrades, both at Raub and at Tersang. RAUB At the time of listing (June 05) total identified resources at Raub comprised of a proven reserve of 180,000oz held in tailings and inferred resource of 59,000oz in East Lode shallow oxides. 15 May 06 - Inferred resource increased by 81% to 107,000oz gold. 13 Jul 06 - Inferred resource increased by 26% to 135,000oz gold. 8 Jan 07 - East Lode now at 213,000oz gold (Measured, Indicated and Inferred) 27 Sep 07 - Tailings proved ore reserves increased 12% to 202,000oz gold. 3 Jun 08 - 136,000oz in measured & indicated (previously 52,000oz) at East Lode 11 Nov 11 - Additional 21,800oz of indicated resource in tailings So, since 3rd June 2008, the resource outside the old tailings has not had an update. Although as per all the RNS's in the almost 4 years passed we have had plenty of assay results and exploration. It will be very interesting to see what the last four years of drilling actually means in actual reserve upgrade. Currently in East Lode: Measured 62,000 Indicated 74,000 Inferred 82,000 Tailings: Proved 202,000 Indicated 37,200 TERSANG At time of listing 528,000oz non-JORC 15 Jan 07 - 'The company's expectation is that in due course, the amalgamtion and evaluation of the results of drilling on the northern and southern parts of the Tersang deposit will enable an updated resource estimate for the entire deposit to be compiled. The current estimate is of an inferred resource of 528,000oz, and the company's target is 1 million ounces.' 4 Oct 07 - 'Preparations are being made for the next phase of the Tersang drilling programme, which we intend will define further resources and take us closer to our target for the deposit of 1 million ounces.' 9 Mar 11 - 'The current exploration and drilling objective at Tersang is to define the initial Tersang resources to JORC standard by the end of Q3 2011. This will be followed, during the latter part of 2011 and the first half of 2012, by a high density drilling programme estimated at 20,000m of RC and 2,000m of diamond drilling aimed at the completion of the Tersang resource definition.' So, minimum expectation here is for the 528,000oz of inferred non-JORC be converted to JORC. So nothing less than 528,000oz of inferred JORC resource. I would hope that some of this will be in the measured & indicated category, but I see that as a bonus at this time, as the high density drilling programme will cover this. |
Posted at 02/2/2012 14:18 by biggest bill If something actually is going on, private investors are always the last to know. |
Posted at 04/8/2011 20:52 by aleoap Lol, just caught a snippet of CNBC, 'Gold is down 15% and investors are moving to the safe haven - cash'...15 points, not 15% - jeez, and cash 'safe'...if only |
Posted at 30/7/2011 07:45 by sporazene2 aleop, an ops update is the only thing that is going to drive any meaningful improvement in the share price This needs to confirm that commissioning of the expanded plant is underway and previously committed and delayed timescales are going to be met. Any further delay, especially on the fresh ore processing and share price target would be 25pAdditionally, we are expecting 2 resource updates in the "middle of Q4" if they need cash for the 2012 drilling campaign, which i fully expect then they need to release these updates as per the committed timescales. If i were putting money in i would want to know what it was going to be used for. I bought into these as a fun punt, on the basis of the rising gold price and short term newsflow could drive this as a momentum play. it's a small % of my overall portfolio and dwarfed by holdings in KYS, SHG and CLF. As i previously said the key downside risk is another quarter delay for the fresh ore being processed. For me it's very much a short term play , i see the management as weak, and so far have proven they cant keep to timescales or keep investors informed. There are no broker reports on their website and trying to get hold of anyone in the company is not easy. Take the Daniel Stewart report from the start of the year. I forgot how they described PGL, something like one of their "top picks" worth 95p per share; why isnt this report on their website. My final negative on this company is the corporate governance, chairman and ceo is the largest shareholder. So we will wait and see, the right RNS could drive this back to 50p, if this is the case i will heading for the exit and watch from the sides lines for a re-entry close to the middle of Q4. All the best. |
Posted at 17/7/2011 09:52 by aleoap Well it will be 18th July tomorrow and we still have no RNS. The company do not appear to be concerned with keeping investors informed. Why on earth put 'target dates' in an RNS, having already missed deadlines, and then fail to meet them again. I do question the competence of management unfortunately, and I do hope the funding for street parties and badminton stars that I read about are not paid for from the companies revenues, and rather the pockets of £200k+ per annum management.Rant over. |
Posted at 12/6/2011 15:46 by aleoap Hi Saucepan, I don't mind talking to myself :) - I did with Condor Resources for nearly a year before the herd arrived.Although I don't have my notes with me I don't expect a cash call before the current exploration programme and commissioning is complete. I would expect one early 2012 in my opinion to pursue a second dedicated plant to serve the economic Tersang and surrounding high tonnage - low grade resource. I believe this will be around 3 million tonnes per annum although the JORC resource updates will give further indication on this. From what I gather management are very excited about the blue-sky potential here. I don't see the debt as an issue but each investor has their own risk perception so dyor and invest accordingly. As mentioned earlier the commissioning has us move to 2 million tonnes per annum at Raub from the current 1.1mta. I estimate annual production to be at or around 40,000 oz pa in first quarter 2012. The company have not given any targets in this respect so again dyor. I see this and GDP both as good plays. My money is in PGL however, and I have been taking advantage of the recent large seller to collect stock at what I believe is a giveaway price for a growing producer. |
Posted at 11/1/2011 14:36 by biggest bill I think the biggest problem is the almost complete lack of turnover in the shares. Very few private investors know about this company. If you look at other gold shares with about the same market capitalisation, the number of shares being traded here is tiny and the number of private investors posting comments is also tiny. The company needs to publicise itself better to investors. On valuation terms, this company is amazingly lowly priced compared to other gold shares. |
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