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?

What price shall i buy at?
3p?
4? 5p?

I am no geologist but 4 deposits covering 25sq km in an area with 2 ( once Paladin's mine is running) of the top 10 largest uranium mines in the world, only one has to be viable to send the share price skyward by factors of 3x, 5x, 10x?. I got in at 3.5p I am going to hold out for news and dont expect the share price to fall below 5p before more news. In my opinion get in whenever u can!!!

Down to 4p now people time to fill your boots with these!

I have put this on my watchlist,how can you be so confident given the recent sharp fall.Are you putting this down to profit taking and the poor markets.?
doughboy66

I believe the business without the prospect of uranium is worth at least 3.5p. Therefore at current prices the potential downside should their be bad news is minimal when compared to the upside should the news be positive.

I am putting it down largely as profit taking particularly those that had the shares before this started disposing of some of their shares to minimise potential downfall on bad results.

I will soon be upping my stake in these!

Does anyone have a guesstimate on how long soil samples will take and maybe some drilling results from past experience?

courtesy of another site:

Uranium miners top ASX trade
By Nicki Bourlioufas
March 31, 2005
From: AAP
INVESTORS are scampering to buy stock in uranium miners with a Western Australian based company Reefton Mining again dominating trade on the Australian Stock Exchange.

At noon today, the top-traded stock by volume was Reefton Mining, with 35.24 million shares traded for a total value of $4.21 million. The stock gained one cent to 11.5 cents.
Reefton told the ASX today it has located uranium at its mine in the African nation of Namibia.

looks like it's happening... excellent news... rns update should be out soon.

rns just out... looking good!!!

URANIUM SAMPLES RECOVERED ERONGO PROJECT, NAMIBIADrilling has commenced to assess the potential for all commodities on the ErongoPolymetallic Project. The first palaeochannel targeted has been drill testedwith 3 holes. Samples have been submitted for precious metals, base metals, raremetals and uranium. Carnotite (uranium mineral) has been located on the surfaceas exploration utilizing ground radiometrics, soil geochemistry and drillingprogresses. HIGHLIGHTS * Carnotite (uranium mineral) identified at surface and samples submitted for analysis. * Positive results continue from ground radiometric truthing of Hakskeen Uranium Target C. * 44% of the radiometric data is 2 times background indicating an extensive anomalous structure. * 5% of the radiometric data is 5 times background indicating a highly anomalous uranium source. * Initial results of wide spaced drilling show shallow anomalous radiometrics downhole.BackgroundThe deeply eroded Southern African terrain contains an abundance of world classorebodies in regolith areas of deeply weathered profiles or large areas of freshoutcrop. Alluvial systems both conceal orebodies and carry indicators ofprecious metal, base metal, rare metal and uranium mineralisation.Orebodies of the size of the Navachab Gold Mine (126,000,000 tonnes containing4,700,000 ounces of gold) located adjacent to the Erongo concessions have beendifficult to locate due to the erosional regime. The detailed examination ofthese alluvial systems, particularly the deeper concealed palaeochannels(deposited when the climate was humid subtropical) is expected to presentexploration targets for significant mineralisation.The first palaeochannel target is located in the south west corner of theCompany's Erongo project area within Namibia's uranium province. Uraniummineralisation is typically found in palaeochannels and examination of thissystem led to the Hakskeen Uranium discovery.Uranium DevelopmentThe Company is pleased to announce it has recovered samples of carnotite (yellowoxide mineral of uranium) from the surface of Hakskeen Target C at the ErongoProject in Central Namibia, Africa.The carnotite samples were collected during soil sampling of Target C and theyhave been submitted for analysis.Soil samples have also been collected from the radiometric lines of Target C andsubmitted for assay.A radiometric ground truthing initiated a ground radiometric survey toinvestigate the Hakskeen area. Airborne anomalies cover over 68 squarekilometers.Positive results have continued from a detailed radiometric survey of Target C.The ground radiometric survey has now tested a total of five lines and iscontinuing. Each line was approximately 1,000 metre in length with 400 metreline spacing (reduced from 1,000 metre) and 20 metre spacing of readings.The radiometric data returned significant results with 44% of the data at +1standard deviation or 2 times background (anomalous), and 5% +2 standarddeviations or 5 times background (highly anomalous).An RC rig has completed an initial 3 holes (TC3/RC1, TC3/RC4 and TC3/RC8) of aplanned 19 holes.The holes have been logged and the samples are to be submitted for assay.Radiometric surveying, soil sampling and drilling are continuing at the ErongoProject.Award of Tender for Laboratory Work - SGSReefton has engaged SGS Lakefield Research of South Africa in Johannesburg tocomplete all laboratory analysis of the samples recovered from the ErongoProject.SGS is recognised as the world leader in quality laboratory analysis.This appointment further underpins the commitment of the Directors to utilisingthe best resources available on the Erongo Project to ensure timely results withconfidence.NamibiaNamibia is located in south western Africa and is politically stable with nocivil unrest and low sovereign risk. The country became an independent republicin 1990 breaking away from South Africa. Namibia is a former German colony andis governed by Dutch Roman law.Under the Namibian Mining Act, Reefton tenure comprises Exclusive ProspectingLeases and the Company has applied for the inclusion of uranium in thedevelopment rights.The country has been actively mining uranium for decades including Rio TintoLimited's Rossing Uranium Mine (located to the south of Hakskeen) which openedin 1975. Paladin Resources Limited's Langer Heinrich deposit (also located tothe south of Hakskeen) is planned to start mining in 2006.An ASX announcement containing some pictures and a map of the area canbe found on the ASX website www.asx.com.auG R HemmingDirectorEnquiries to:Mr Simon Gilbert - Chief Executive OfficerChief Executive OfficerPhone: +61 (0)8 9322 7822Facsimile: +61 (0)8 9322 7823This report accurately reflects information compiled by Mr G.R. Hemming,MAusIMM.,MAIG., a Director of Roscoria Pty Ltd, who has sufficient experiencewhich is relevant to the style of mineralisation and type of deposit underconsideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2004 Edition of the 'Australian Code forReporting of Exploration Results, Mineral Resources and Ore Reserve'. Mr Hemmingconsents to the inclusion in the report of the matters based on his informationin the form and context in which it appears. This information is provided by RNS The company news service from the London Stock ExchangeEND

Nice one Jimbob ! I have bought a few of these this morning.
DB66

lots of sells at lower than the selling price,also my buy has not shown up at 9.45am.news looks good so why people selling,may be banking there profits.

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 !!