re: see the wood for the trees... Full Disclosure - From the AGE...

re: see the wood for the trees... Full Disclosure - From the AGE 17/8/2005

New fever in the goldfields
By Helen Westerman and Rebecca Urban
August 17, 2005
If ever there was any doubt as to just how hot uranium is at the moment, look no further than the hysteria that has surrounded Yamarna Goldfields this week.
The penny dreadful, run and part-owned by Peregrine Corporate lads Richard Revelins and Bryan Frost, has taken a stake in a project to drill for uranium on the tiny Pacific island of Niue.
It was the rather grand claim that the idyllic island — population about 1750 — was potentially home to a uranium deposit equal to the size of the Olympic Dam that really got the day traders' blood pumping.
On Monday, the stock rose 22 per cent to 1.2¢, after 65.5 million shares changed hands. The enthusiasm continued yesterday, with more than 150 million trades sending shares 45 per cent higher again to close at 1.6¢.
The interests of Revelins and Frost also got in on the action, buying 2.1 million shares at an average price of 1¢.
The news also encouraged some Peregrine clients to take part in an $840,000 placement — timely really, given Yamarna had just $193,000 in the bank at the end of June.
And while Aussie investors are thrilled about the idea of mining Niue Island, the locals discussing the news on an internet chatroom appeared a tad restless about the prospect.
Asked about the potential for environmental conflicts, Revelins called for calm.
"We've got to find the stuff first," he said.