I think reefton could be one of the best uranium plays on the market. I expect more info next week.
Reefton Mining NL

NEW URANIUM DISCOVERY

* Four radiometric anomalies identified covering over 68 square kilometres
in central Namibia, Africa.

* Significant radiometric response from ground truthing of the anomalies.

* Anomalies situated within close proximity to Rio Tinto's Rossing Uranium
Mine and Paladin Resources Ltd's developing Langer Heinrich Uranium Deposit.

The Board of Perth-based Reefton Mining NL is pleased to announce the Company
has discovered a new uranium target at its wholly owned Erongo Polymetallic
Project in central Namibia, Africa.

The Company has commenced radiometric surveying returning significant readings
up to 94,320 counts per minute thereby indicating the presence of uranium
bearing mineralisation.

A total of four radiometric anomalies have been identified to date totaling an
area of 68 square kilometres (km):

A. "Vergenoeg", 12 km x 3 km

B. "Sukses", 5 km x 1.2 km

C. "Hakskeen", 8 km x 2 km

D. "Hoopverloor", 7 km x 1.5 km

The series of radiometric anomalies occur within alluvial basins interpreted to
have developed on palaeochannels similar to the developing Langer Heinrich
uranium deposit owned by Paladin Resources Ltd located to the south of Hakskeen.

The Company is collecting soil samples from the radiometric anomalies and an RC
drilling programme has also commenced at Hakskeen.

The Rossing Mine - owned by Rio Tinto - is the world's fifth largest uranium
producer and is also located to the south of Hakskeen (see location map
attached). It has produced about 70,000 tonnes of uranium since it opened in
1976.

Uranium Market

The uranium price has been rising and has increased 79% since 2003 from a annual
month-end spot price average of US$11.54 /lb to US$21.75 /lb as at Feb-05
(according to The Ux Consulting Company, LLC - monitors the uranium market). The
price has risen due to increased demand for uranium as a fuel for power
generation.

There are numerous nuclear power stations under construction particularly in
China which plans to build 27 plants by 2020, India which plans to build 17
reactors by 2012, and Russia which wants to build 25 plants by 2020 (according
to the Energy Bulletin).

World demand is estimated to outpace supply by 11% in the decade ending in 2013
as inventories decline ("World Nuclear Association").

Uranium Geologist

Reefton also advises that it has engaged the services of Dr Christian Schlag who
is an experienced uranium geologist. He has worked on a number of projects
including the Oranje Free State project with Gold Fields of South Africa.

An ASX announcement containing a map of the area can be found on the ASX website
www.asx.com.au

Does anyone have any opinions on what is instore next for reefton?

trades delayed by 2 hours

Who got some at 4p when I suggestted it ?

Would have thought they would go up more as better news than last time when it peaked above 10p

ZBA is attracting interest.

ZBA was expecting news this week as i read on the other board,but no evidence of that ,do you have any idea why such a delay.

Hi, to anyone who, like me, does not or did not understand two hour delay in publication of trades, giving a confusing impression on 'Buy/sell' prices.

I am sure most of you know, but in case there is one person out there who needs this info, be patient.

I sent an E-mail to LSE last week and received this reply.


REEFTON MINING NL. RE: TRADE REPORTING ETC

Thank you for your Email of 23 March 2005

In order to appreciate the answers to your queries, it is important to understand the distinction between trade REPORTING and trade PUBLICATION.

In the case of shares traded on our SEAQ competing market maker platform, which includes AIM shares with more than one market maker (Reefton Mining currently has five), trade reporting is done electronically to the London Stock Exchange ("the Exchange") by the market maker and should in general be done within 3 minutes of the time of the trade. Late trade reporting is a breach of Exchange Rules and may incur a fine.

Trade publication is effected automatically by the Exchange, not the market makers, according to a predetermined rime which varies according to the Normal Market Size ("NMS") of the share and the size of the trade.

The NMS for each share is prescribed by the Exchange according to a predetermined formula based on the volume of trade in the previous twelve nonth period. In the case of Reefton Mining the NMS is currently 1000 shares. The NMS equates to the minimum size which the market makers must display in their screen quotes. In the case of Reefton Mining all the market makers choose to display a size both ways of 25000 and have certain dealing obligations in respect of trades in up to that displayed size. They have no obligation to deal in greater than their displayed size but as you can see, in the case of Reefton Mining, in practice they do.

The Exchange's Trade Publication rime can be found at:-

http://www.londonstockexchange.com/NR/rdonlyres/7D079D10-AAC8-467F-A6B0-D56E0AF1A9B0/0/GuidetoTradingServicesv82CWTS.doc


[Alternatively, from our home page www.londonstockexchange.com click on "Products & Services", then on "Membership & trading", then on "Trading services", then on "Guide to Trading Services" (under "Downloads")].

Go to page 124 and/or 180 (this can be done by clicking on the page number in the Contents table at the beginning of the document).

You will see that for SEAQ stocks with NMS less than 2000, trades of greater than 6 times NMS are published with a two hour delay after the time of the trade.

The NMS's of all shares are reviewed every three months, and it may be, if the current much increased level of trade in Reefton Mining is sustained, that its NMS will be increased in a subsequent review.

I hope this solves your conundrum.

Yours sincerely


Philip M Caine
Manager, Regulatory Complaints & Enquiries
Trading Services
Tel: +44 (0)20 7797 3523
Fax: +44 (0)20 7920 4529
pcaine@londonstockexchange.com

Good trading
Alan

So when do you think that sample results will be due in?

mornin all: read the thread, became interested, been to ASX and RTM web sites, dint realise about the Skeleton coast project, so Im in, only small, because me and mining companies dont seem to get on, I end up getting buried!! But hopfully this might be different. good luck to all holders

Good luck Panic

What does anyone think about the director resigning?

Hoping for further news this morning fingers crossed

Jimbob,
I was going to punt a few of these following recent reports but stopped in me tracks when yer man resigned. I believe he was CEO and had been with compnay for some time. Was he fearful of the `positive` statements being released which maybe aren`t supportable ??? I`ve held off for now and await results of exploratory works. I may miss the boat and then again I might be glad I did !!

Thats the most painful morning ive had down to 2.5p.

It turns out they haven't had the mining license there for the past two years and are takeing the countries mining minister to court!!!!

Bad news. Is this going to be 0.5p by the end of the week?

Dont know

poo...... in at 4.5p and is down to 3.5p .......was hoping that the potential negative political fallout from Namibian Mines department would have made them sort the exploration licences out quite soon.......cos this type of thing usually dissuades other exploration companies from entering the country and investing their bucks and pennies.......was then hoping that they stick an RC drill hole smack-bang in the middle of the radiometric anomaly and tell us that the hole is of uranium ore-grade........that would make the price sky-rocket - i'd have my ten-bagger, and sell......and then after another 100 drillholes they could announce that it is not economically feasible to mine :-)

just read a rumor on www.sanford.com.au meassage board/forum that the whole uranium anomaly may be in the same ilk as that Canadian gold exploration company which salted it's samples in the Phillipines - resulting in the top level Directors heading for cover in the Carribean with pockets full of cash, and the poor old local (?) Head Geologist threw himself from a helicopter.....no doubt on his way to the Caribbean as well.....haha

although me thinks that this rumor is unfounded in Reefton's case, cos they only announced a radiometric anomalous zone - as opposed to an actual deposit........

aren't they due to be letting us know about their drill results soon ???

Taken from another site....as for its validity dyor...although nothing new except the statement "there is uranium"



TAKEN FROM OZ BULLETIN BOARD

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Subject re: vladimir sold out??
Posted 12/04/05 13:24 - 119 reads
Posted by vivonne
IP 144.138.xxx.xxx
Post #568686 - in reply to msg. #568660 - splitview

have just spoken to Simon Gilbert,
1 newspaper that published article re Thorium is to print retraction as people were misquoted,there IS Uranium there!
2 Lease status is still to be granted
3 Company hopes to release drilling results late this week to reassure market.

I read a statement by a geologist who did his doctorate on the geology of the area and he said it was very unlikely to be significant amounts of uranium and is actually a text book example of this other radioactive mineral that is often confused with uranium as the ores are very similar.

I'am out I think Its all crooked

U better check ASX website more news!

Hi
Cut and pasted from advfn.
well done John

John Mooore (Geologist) miss quoted .
from Hot Copper and ShareScene

. just received email from Prof John Moore (RE: The "Questions over Uranium Find" Article)

I basically asked him about the statements he has made regarding the find in Hakskeen. This is his reply:

Dear John,

I am afraid that I have been mis-attributed in this article. The reporter
phoned me, but I did not have any direct information regarding the Hakskeen
deposit.
He told me that the radiometric anomaly was reportedly related to thorium. I
then told him that if that was the case, then the anomaly could not be
related to carnotite in calcrete/gypcrete as carnotite does not contain
thorium. I then explained to him the nature of thorium anomalies - that
section is correctly attributed to me.
I told him that I visit the Rossing area (not Hakskeen area) on an annual
basis to show my students the difference between real and false uranium
anomalies.
All the references attributed to me regarding the nature of the Hakskeen
deposit and aerial anomalies are incorrect as I had no knowledge of the
geology of the area.

I therefore cannot help you in this regard and suggest that you contact Dr
Steven.

Regards
John Moore

.....still don't like the sound of this.....better read the drilling results soon, otherwise i think that it may all go down the gutter....