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?

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....

Hi everyone
copied from aussie site


Reefton refutes report, requests retraction


Jesse Riseborough


Wednesday, April 13, 2005
EMBATTLED uranium explorer Reefton Mining has asked for a retraction from a Namibian newspaper that published a report casting serious doubt on the potential for uranium at the company's Erongo project in Namibia.

In a story recently published in the Namibian national newspaper, Professor John Moore of the Rhodes University Geology Department was quoted as saying he would be very surprised if Hakskeen, within Erongo, contained "real and viable" quantities of uranium.

However Reefton chief executive officer Simon Gilbert told MiningNews.net he had contacted Professor Moore regarding the story and was advised by Moore that he was quoted out of context. Gilbert said Moore had emailed this statement regarding quotes attributed to him in the story.

"I am afraid I have been miss-attributed in this article," Moore has told Gilbert.

"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, as carnotite does not contain thorium.

"I then explained to him the nature of thorium anomalies and 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 anomalies.

All the references attributed to me regarding the nature of the Hakskeen deposit and area anomalies are incorrect, I have no knowledge of the geology of the area. I referred the reporter to Professor Jacobs and Dr Nick Stevens. It is possible he has confused statements coming from Dr Nick Stevens as coming from me."

Dr Nick Stevens, a Cape Town-based geologist who wrote his doctorate on the geology of the Hakskeen region, was also quoted in the story as saying he was very sceptical about Reefton's announcement of a new uranium discovery on March 18.

Stevens claimed the geology of the granite-based deposit is distinctly different to other known uranium deposits in the region including the ASX-listed Paladin Resource's Langer Heinrich deposit.

"It is what we call monozite, a rare earth phosphate normally associated with heavy beach sands but one that also can give off a radioactive signal," Stevens said.

Gilbert said Reefton were also awaiting a response from Dr Stevens regarding his comments to the newspaper.

"We are waiting on a response from Stevens as well which will hopefully come through today and then I would think the company would be in a position to form a response to that.

"We actually want the paper to write, essentially a retraction article because they have mislead the public in a big way. You could potentially say that article has stripped 20% off the value of the company because since that has come out we have dropped from 10c down to 8c," Gilbert said.

Meantime the company is still awaiting resolution regarding the renewal applications for exploration licences at Erongo.

Shares in Reefton today were up almost 4% this morning to 8.1c.

Strange goings on here scottie7

Did you not notice that the article you pasted from ADVFN purporting to be a direct e-mail response to a punter called John from John Moore has exactly the same text as your second posting which is attributed as a response from John Moore to Simon Gilbert? Too many John's if you ask me.

I'm not a holder, but I wish you good luck with this and hope that it is not some form of scam. LOL

Hi
Yes I did notice the duplication of the message. As they bear different dates 12 & 13, I put it down to pro-forma response. except the second had a positive effect on the ASX trade, but a negative reaction LSE.
The idea its all a scam.......too late to be caught....already taken loads on upswing back in again at 4.5p....ish looking for rocket gains within week and out if not not the downside can't be much lower and...EH .......its only money.
Then on the other hand I have no reason to think it is a scam, good community with solid near neighbours (RIO-TINTO)(good schools close to all amenities and buses, Southerly aspect, oh sorry, got carried away with my ramping)

Anyway the REEFTON assay report can't lie. so I'll sit tight.
good luck

One day there is going to be a big percentage blue here on this,just my gut feeling,may be because i hold some,and trying to give my self some comfort,there are some people out there who paid 10p for this,fingers crossed might get there money back.

One day there is going to be a big percentage blue here on this,just my gut feeling,may be because i hold some,and trying to give my self some comfort,there are some people out there who paid 10p for this,fingers crossed might get there money back.

LONDON (Dow Jones)--Reefton Mining NL was notified yesterday that on Mar. 31, 2005 Vladimir Nikolaenko, a former director of the Company, reduced his shareholding in the Company via on market sales on the date of his resignation as director on Mar. 31, 2005.

Nikolaenko sold 3,335,875 Ordinary Shares held by Goldmedal Nominees Pty Ltd, a Company in which he has a beneficial interest, for a consideration of A$379,090.13.

Nikolaenko's holding in the Company is now 2.26% of the issued fully paid share capital.

Get out people! There's no way he would sell if there was a chance it was going to rocket!

your comments fail to mention the rest mate......

couldn't cut and paste the "Change in Director's Notice" from www.sanford.com.au because it is in .pdf format.....will try another way.....but in meantime, summary is the following;

Vladimir (the director that resigned just before the announcement of the exploration licence problem) has sold 3.3million shares as described in post above.......
However, His Family Trust still has 3,679,344 fully paid share, and 2,500,000 partly paid shares..........And his Goldmedal Nominees Pty Ltd company still has 1,821,813 fully paid shares, and 200,000 partly paid shares......

So he has sold 3.3 million shares, but still holds about 8.1 million shares...

Hi
copied from sharescene site.

was a little lost also, so I rang Reefton and spoke to Simon Gilbert again.
Advised the following;
1. Yes Uranium is present
2. Palaeochannel present, which is same as PDN has.
3. Will take a further two months (approx) to determine exact amount of Uranium and whether feasible or not to mine.
4. Probably take another 2 years (if all goes well) before they can commence drilling.

Ok that said, the impression I got from him was a good one, I asked the question about the stock decreasing, and his reply was the market overall today has gone down and this is just a result of that. He said that analyst will mull over the results on the weekend and act accordingly.

He seemed quite impressed about the find and suggested that I read the first page and look at the map that indicates everything. ("Well I did before ringing him obviously, but bit my lip and said yea no worries"). He also advised me to look at the palaechannel or in particular about the fact that there is one present. Advised that this is very similar to that of PDN and possible to go the same way.

Look after my discussion with him, I feel a hell of a lot better than before. I got the feeling that he seemed very confident about the find and he knows that its going to take a while before they can drill. He is a pretty easy guy to talk to, so give him a call if you want and let me know how you feel.

Cheers,
GG

when you stated; point 4. ".........before they can commence drilling" did you mean mining ??

cos to determine the exact amount of uranium and whether it's feasible to mine or not - it must be done thru drilling first.

so; it will take them 2 months to determine the feasibility to mine, and then after that another 2 years before they can commence mining ???