# BMN - Bannerman Energy



## chris1983 (28 April 2006)

Bannerman have had a huge rise this morning due to some interesting news being released this morning.  They hit 85 cents.  

“Notice of Preparedness to Grant” from the Ministry of Mines and
Energy (Namibia) for Exclusive Prospecting Licences EPL3345, Welwitschia and EPL3346,
Swakop River.
The notices state that the Company’s top two priority licences have been approved for granting
to its partner Turgi Investments Pty. Ltd. (“Turgi”).

The market cap of these shares is still very low.  Currently just over 11 millions dollars.  I will continue to hold.  This is a speculative stock but could have some serious potential.  Please offer your thoughts.

Regards,

Chris


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## YOUNG_TRADER (28 April 2006)

They have been trying to get this licence for nearly a year, the 'Goanakities' licence is the important one,


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## chris1983 (28 April 2006)

If you read their presentation they are saying they have this license?  Or am I mistaken?

Four projects with major
focus on uranium

NAMIBIA - Goanikontes / Swakop
Adjacent to the Rossing and Langer
Heinrich uranium mines

BOTSWANA - Serule / Dukwe
Adjacent to the Mokobaesi Uranium
Deposit

Regards,

Chris


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## chris1983 (30 April 2006)

Hi guys.

So am I correct that Bannerman have gained the license which has the Goanikontes land?  I'm pretty sure they do.

I just did some research into the Goanikontes area.  This website is the Ministry of Mines and Energy of Namibia.  I have found some information that is interesting within the site.

Here is the link below for anyone who is interested

http://www.mme.gov.na/gsn/uranium.htm

I have cut the area I believe is interesting

"There is potential for similar alaskite-hosted uranium deposits in central western Namibia, for example Valencia (25.2 million tonnes of ore at an average grade of 300 ppm U3O8) and Goanikontes (potential resource of several million tonnes of low grade ore)."

Now they dont know how much Uranium is at Goanikontes as it hasn't been drilled to a great enough extent but time will tell and hopefully there is a lot of it.  More drilling needs to be done to find out exactly how much Uranium is there but it sounds very similar to the ore that is at the Rossing mine.

Anyone want to add their thoughts?  

Regards,

Christopher


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## chris1983 (1 May 2006)

Bannerman are going strong.  Currently at 90 cents and the ask is 92.  They are currently up 16 cents.  Still plenty of room for these to move since their shares on issue is just over 14 million shares.

Regards,

Christopher


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## YOUNG_TRADER (1 May 2006)

Chris 2 things,


1. Fully issued/diluted capital (unlisted stock + options) = 35m @ 90c = $30m mkt cap


2. They have been in Nambia for well over 8 months with no drilling @ all, they have been applying that main Goanakities licence from the start and have been refused before, I hope they get it this time, Nambia has been kind to some (PDN) and not so kind to others (RTM)


Great stock I held n made a damn good profit, but just be careful, they are very very spec

Very High Risk = Very High Reward


Good Luck


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## kevro (1 May 2006)

Hi all,
        spoke to my broker re BMN today. Apparently the wording in there ann is a little tricky and that they still have not got approval yet and that it will be towards the end of May before they know. Also the people behind this are also the people behind CAZ and we know what happened there. In effect they still have nothing really.


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## chris1983 (1 May 2006)

Your absolutely right kevro.  The licensing hasnt been completed yet as stated by their message.  It is going to take 30 days.

Bannerman Resources Limited (ASX: BMN) is pleased to announce that the Company has signed and submitted the “Notice of Preparedness to Grant” from the Ministry of Mines and Energy (Namibia) for Exclusive Prospecting Licences EPL3345, Welwitschia and EPL3346, Swakop River. The notices state that the Company’s top two priority licences have been approved for granting to its partner Turgi Investments Pty. Ltd. (“Turgi”). As previously announced the Company has acquired 80% in the capital of Turgi. In signing the notices the Company has agreed to the Ministry’s statutory conditions which includes, amongst others, entering into contracts with the Ministry of Environment and Tourism relating to environmental protection issues. Completion of this process, and the issuance of the licence documents is anticipated to take place within 30 (thirty) days.

The licenses have been "approved" for granting.  It is good signs and looks likely that they will secure the licenses but anything COULD go wrong.  I think it is looking very likely they will be granted the licenses but you never know what can happen.

That is why this is a speculative stock but hey im willing to take the risk because I think everything is in Bannermans favor.  Better to have been approved for granting than being rejected.

I took half profits on my holdings to cover what I outlayed but i'll be holding the rest for the long haul.  There was an article in the west australian today stating that the grounds they could aquire are very prospective for uranium.

Lets see what happens but I can see some good things happening for this stock.

Regards,

Christopher


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## chris1983 (12 May 2006)

Hi All,

So we all know this stock is a major play. Still very risky.  

bmn (Bannerman) = 1.08,  volume =  15,110,000   
bmno (Bannerman Options) = 91.5,  volume = 15,790,003

Options are exerciseable at 20 cents

High for the year is 1.25

Lets just say this has had some huge rises in past weeks.  I was lucky to jump on board at 48 cents but it is very possible we could see a 2.50 share once the tenemants are completely secured.  These tenemants have been seen as one of the best uranium exploration tenemants for any uranium exploration company in the World.  Which was stated in an article in The West Australian.  With potential resource of several million tonnes of low grade ore at Goanikontes this is a very interesting stock.

Once the tenemants are secured and all the papers are signed sealed and delivered I think we will see a lot more investors pouring money into this stock.  But hey thats just my opinion.

I will sit and wait.


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## chris1983 (29 May 2006)

Bannerman have completed their prospecting licenses.  Read below.  Great stock!  Go Bannerman 

Bannerman receives final prospecting licences in Namibia
10:43, Monday, 29 May 2006

        Sydney - Monday - May 29: (RWE Aust Business News) - Bannerman
Resources (ASX:BMN)  has received final licences for prospecting at
Welwitshia and Swakop River in Namibia.
        The company will immediately commence exploration in the two
areas.
        The licences lie in the Swakopmund district which hosts the
largest open cut uranium mine at Rossing as well as the Langer Heinrich
deposit.

up to 1.20 this morning and rolling high for the year at 1.25.  I think we can expect to see the 1.25 mark broken very soon.

Regards

Christopher


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## MattThomson (1 June 2006)

It'll be interesting to see what effect the presentation to investors will have this coming week, very interesting if it is a successful presentation...


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## chris1983 (19 June 2006)

Looking promising for Bannerman.  They have flown back up from 70 cents to $1.12 over the last few trading days.  This stock was hit hard like many stocks but they have rebounded well.  Volume is increasing.  Looks like something is going on.  I'm hoping for some good news or maybe drilling will commence soon.  Ive been a believer in this stock for awhile now.  I'll be holding until they find something big


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## Matt123 (19 June 2006)

Drill results should be due out soon, hopefully they are promising, I'm expecting that they will be


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## chris1983 (19 June 2006)

Hi Matt123,

What do you mean drill results should be out soon?  There has been some past drilling done on the Goanikontes area and it looks very promising but I dont think any drilling is happening at this very moment.  They are planning for drilling to take place in August.  If you read their presentation that is what they state.  Anyway this company has to be atleast a 2 year hold.  I honestly think we could be in some serious money by then. We have to play the waiting game now for the really big returns.

Regards

Chris


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## Matt123 (19 June 2006)

Sorry about that. I meant the geophysical surveying and magnetic surveying. I have no idea if and when there will be results released. But it has been three weeks now and I'm hoping something will be available soon. What I would really like to see though is the results of the meeting with investors in London.


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## chris1983 (19 June 2006)

Thats alright.  Your just as excited about this stock as I am.  Hopefully we are going to see huge returns.  Their grounds for exploration are excellent.  It looks very promising from the drill results in the 80's.  They are practically smothering Paladin with the tenements they have obtained.  Now we just sit back and let the good times role.


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## Matt123 (7 July 2006)

Does anyone know what happened today? That was quite a jump with no announcement.


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## pacer (7 July 2006)

Just no sellers that's all, doesnt't mean much with low volume....hope you're not ramping it mate, could be over priced anyway...do some reasearch and then you'll see, would be easy to get it to $10 per share at the moment and con a few suckers!!!


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## stockmaster (18 July 2006)

BMN has finalised the palnning for a reverse circulation and diamond drilling programme on its Goanikontes and Swaptop RIver project

It seems the project is very significant, "to the point that the Company has decided to concentrate on these projects and to withdraw from the farmin agreement covering the Pinnacles nicek project?

Any thoughts?


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## Knobby22 (18 July 2006)

Paladin announced BMN result as well.

Takeover bid coming?


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## chris1983 (18 July 2006)

That is extremely interesting.  I hope they fly because I have them .  They have some of the best uranium exploration tenements in the world.


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## Matt123 (19 July 2006)

This report from carmichael looks promising. It's available on the website. Basically it looks at BMNs uranium operations, which is fine now that BMN has ceased it's Nickel operations in WA. This highlights the importance and value the directors are putting on the uranium operations, a good sign. This 3-1 share split also could indicate this as I've read that sometimes companies do splits after a large rise in SP, though the evidence for for increased liquidity is not solid. Could this split have been done to encourage a takeover bid, such as those that are happening throughout the uranium sector now?

The progress report that was issued yesterday (available on the company website and on the ASX) also looked solid. Of course everything depends on the drill results but I think it'd be very unlucky for them not to find anything. There'll hopefully be some movement next month sometime, or the month after, when drilling commences. Has anyone got any idea about when we can start respecting drilling data to come available?

I hope that the $3 (pre-split) the report has a target comes about 

http://www.bannermanresources.com.au/files/grabdoc.php?type=doc&id=48&cid=298


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## chris1983 (19 July 2006)

Thanks for that article.  That was good to read.  You watch mate.  We will have everyone jumping on this share in 6 months time.  Its a good thing we got in early.  When drilling starts on the Elspe channel its going to be very exciting times.  If we take into consideration that they are drilling an extension of Paladins tenements and they also have the Goanakites area to drill.  This share could give us some nice gains. Fingers crossed


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## chris1983 (31 July 2006)

Some good movement today.  In their previous messages they announced that drilling would commence in August.  This will be good.  I think we could see a rocket in the share price for this company.  It is very possible Paladin would show interest.  Paladin earlier this month released a message on Bannermans tenements.  They are so close to one another it would be a prime option for them to take Bannerman over since their infrastructure is located so close to Bannermans Elspe channel.  Paladins Langer Heinrich Channel extends into Bannermans Elspe channel.  Plus Bannerman has the Goanikontes deposit.  I'll keep hoping this is a big winner.

Very interesting to see how things progress over the next 6 months.


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## chris1983 (3 August 2006)

Volume and sp has been increasing over the past few days.  I am expecting a message but who knows.  Maybe there is no reason for the volume and sp increase.  It has happened before so its anyones guess.


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## chris1983 (3 August 2006)

Looks like resistance of 1.25 could be broken today. I'm the only one interested in this stock I think haha


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## Sean K (3 August 2006)

I'm watching it too Chris. You'e right on the $1.25.


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## chris1983 (3 August 2006)

haha it didnt break it once again   Its pulling back now with some profit takers coming in.  Will look to the future once again for a message.  I think its just a message that is to be expected.  Like drilling to commence or something along those lines.  Thats still would be nice to hear.


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## chris1983 (3 August 2006)

Finally the 1.25 resistance has been broken.  It just touched 1.28.


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## Sean K (3 August 2006)

I'd class that as a breakout Chris. There was a bit of this happening today through. Perhaps the traders are all back from holiday. It's probably ctp back in!


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## Matt123 (3 August 2006)

Well I can't stop smiling that's for sure


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## chris1983 (3 August 2006)

haha yeah maybe ctp got some.  I think they are too busy watching jupiter mines   Which is doing very well aswell.  But back onto Bannerman.  It appears they have broken the 1.25 barrier.  I thought it was going to be another day of hitting their high and they would fall back after seeing them go back to 1.18.  Im glad they kept going.  

There must be some news coming out.  They have been holding steady but there hasnt been this much turnover in a long time.  If you look at their market depth there is hardly any sellers.  Very interesting because if they do put out any decent news we could see some more large jumps in the sp.  It will be good once the 3:1 change takes place.  It will make them look more attractive at a lower price.  Market cap is at 26 million + options.  Thats nothing.  This stock has a long way to go.  Im going to ride on these all the way..thats how much I believe in their prospects.


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## chris1983 (3 August 2006)

Thanks for the charting too.  It makes it very clear to see they have broken out.  Anything could happen though..even if things are looking very positive.  Lets sit and wait.


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## chris1983 (8 August 2006)

$1.435.  Flying at the moment.


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## Realist (8 August 2006)

Where is Matt Thompson? he was harping on about BMN 3 months ago. I hope he held.

He was harping on about EVE as well from memory - I hope he sold!

I hold neither, and will watch BMN, I wont jump in yet.


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## chris1983 (8 August 2006)

Hmm not sure.  I hope he held too.  $1.50 now.  I think the market cap with shares plus option would be coming up around 50 million dollars.  Still a long way to go for this company.


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## Sean K (8 August 2006)

Well, this has had a great few days. 

Going into uncharted territory now. Literally.


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## MattThomson (8 August 2006)

Heya  you bet I held. I never bought any of EVE in the end and haven't looked at it for a while. Looks like one for the traders though, seems to be a fairly regular cycle from 10c to 12c. But back to BMN  I'm just sittin back and watching what happens from here. Looking at the depths, I can't see the SP dropping considerably from here without bad news.


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## chris1983 (9 August 2006)

Down today.  A few sellers jumped in and others follow the trend

Pushed down in a matter of 10 minutes.


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## Realist (9 August 2006)

MattThomson said:
			
		

> Heya  you bet I held. I never bought any of EVE in the end and haven't looked at it for a while. Looks like one for the traders though, seems to be a fairly regular cycle from 10c to 12c. But back to BMN  I'm just sittin back and watching what happens from here. Looking at the depths, I can't see the SP dropping considerably from here without bad news.





Well it is $1.36 now Matt...


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## chris1983 (9 August 2006)

The high for the company was $1.34 just the day before its rise.  It's still above that and the market is down 72 points so maybe some profit takers came in.  They really need to do the 3 to 1 split though.  Not enough shares on the market atm.  A few sellers come in and it drops heavily.  a few buyers come in and it will jump heavily.

I think the 3 to 1 split happens in september some time.  They said drilling would begin in august though.  After a few months things should be more settled.


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## Matt123 (13 August 2006)

There's a big week ahead for this one


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## chris1983 (13 August 2006)

So you think it will be a big week for Bannerman Matt?  Do you think news is coming?  Im expecting them to release that drilling has commenced.  I can say one thing about Bannermans performance thus far.  Last week Bannerman hit its high of 1.54 then pulled back to 1.36..which was on a day that the market was down considerably. It still didnt go below its previous high which was comforting.

It then continued to rise and closed at 1.48 by the end of the week.  It looks as if there is some really good support for this stock.  Things can change very fast but they look promising and are looking better every day.  I could definately see us moving up towards $2 with some decent news.  Then again with decent news the SP could go anywhere.

I'll just keep my fingers crossed..I wont be selling anytime soon anyway.  Lets just watch them ride   the ride is on the way up.


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## Matt123 (16 August 2006)

I reckon there'll be something about the drilling come out on Friday when the split happens. There was a bit of a dip today, but I think it should head back up to at least $1.50 by the end of the week IMO.


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## chris1983 (16 August 2006)

Yeah a few sellers jumped in.  Just profit takers..there is no reason atm to sell this stock.  If shares continue to be bought above its previous high of 1.33 im happy with that.  A lot of people will be holding off to buy these after the split happens.

Still another month before things get settled with the split etc.


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## Sean K (16 August 2006)

Short term profit was made on breakout through $1.25. Who knows what's next for this? Needs some news now.


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## chris1983 (16 August 2006)

News will come.  Drilling will commence.  I think that should be the first message.  Then the share split will happen.  If they go down I might pick some more up after the split or just sit on what I allready have.  Depends if I have spare cash.  I really have faith in this stock though.  Everything takes time.


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## chris1983 (18 August 2006)

Bannerman Resources has released news in regards to the commencement of drilling and environmental approval.  They will commence drilling around September 11.


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## chris1983 (22 August 2006)

Well the 3 for 1 split is in place.  New code is BMNDA.  I'm very happy with how things are progressing.

We are at new highs.

55 cents.  The current ask is 60.

55 multiply by 3 is $1.65

The previous high for the company was $1.54


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## chris1983 (22 August 2006)

60 cents now.  that would make Bannerman a $1.80 share before the share split.  Thats all I'll say.


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## Matt123 (29 August 2006)

Company report is available, available from the ASX and probably the website but I havn't checked. A good summary of where the company is at and where it's going.


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## chris1983 (30 August 2006)

Its going up.  Thats where its going. 61 atm.  Its been in an upward trend since breaking 1.25


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## chris1983 (30 August 2006)

Okay as soon as I wrote that.  They jumped to 65.  This is just going to keep going.  Has anyone looked at the elspe channel on the map.  Its looks exactly similar to that of the heinrich channel..only bigger!


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## chris1983 (30 August 2006)

Finished at 67.5 up 10.5 cents (+18.4%) 

Something brewing?  Or maybe more people just becoming aware of this stocks potential.


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## Matt123 (30 August 2006)

Just a complete lack of sellers I think. There will be alot of interesting things happening with this one next month. I hold.


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## YOUNG_TRADER (30 August 2006)

chris1983 said:
			
		

> Finished at 67.5 up 10.5 cents (+18.4%)
> 
> Something brewing?  Or maybe more people just becoming aware of this stocks potential.





Fat Prophets buy recommendation at 67c out today


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## chris1983 (31 August 2006)

Yeah it seems that could be the reason for their rise.

It has given them more exposure to more investors.  Up again on opening to 73


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## chris1983 (1 September 2006)

Below are some interesting comments on how precious water is when mining uranium.  This is found off the website and article from the link below

http://allafrica.com/stories/200608030638.html

"However, where water costs are high, uranium mining can become costly and uneconomic, meaning that the mine would require a pipeline.

For example, the current pipeline to the RÃ¶ssing uranium mine has millions of cubic metres of water pumped through it annually. The Langer Heinrich also has a pipeline to pump the precious liquid in order to mine the uranium."

I thought it was rather important to post the information above for people who dont know where Bannerman is situated.  It is very interesting that if Bannermans Elpse Channel does contain large portions of uranium.  Its hard to see where the SP could go.  Drilling will commence in September.  They will be right next to an existing mine being the Langer Heinrich mine and all the required infrastucture will allready exist.  Why would they even bother commissioning another mine when there is one practically next to them?

Its also very interesting to note how close they are to Paladin.  Now if Bannerman does find uranium in the elspe channel which I think is highly likely, a lot of talks I believe will take place between Paladin and Bannerman.  It is interesting to note that earlier this year Paladin even posted Bannermans message under their own code.  Now why would they do that? 

I guess its all major speculation at the moment but I can see some future relationship definately forming between Paladin and Bannerman. 

I'm wondering what the rest of you think.  I bought into this stock rather early and its a long termer now.  Lots of volume has been turning over in the past week and it seems to be picking up momentum daily.


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## Matt123 (1 September 2006)

I'll hold till the results are out. If they are good (which is probable) I will hold indefinetly as I can only see the SP rising.


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## chris1983 (6 September 2006)

Some good news for Bannerman this morning.

Its broken way past 75 cents which seemed to be a mini resistance point.  Its up to 85 and its going to keep going.

Some profit takers could come in but they will also have drilling to commence in a week or two so I think its very possible they could break the dollar mark.

See message below.

Geophysical Processing Highlights Extensive Anomalies
Bannerman Resources Ltd (ASX:BMN) has received the processed geophysical data for its Namibian licences. Bannerman purchased the government geophysical data following the granting of the licences and reprocessed the information for the licences specifically adjusting
and modelling for uranium and the local geology and topography. The processing was conducted by Cowan Geodata Services, a Perth based consultancy with a wealth of African experience.

The results have exceeded the Company’s expectations, increasing the number of anomalies within the licence from the thirteen recorded anomalies to eighteen. The known mineralisation at the Goanikontes A prospect appears to be more extensive than previously thought and significant new anomalies have been identified elsewhere within the Welwitschia licence,
EPL3345.

The new targets identified lie along the contact of the Goanikontes Dome and within a structural unit not previously known about. The domal contact was a target for future exploration by the company, the north east trending structure was previously an unknown potential host for mineralisation. The geophysical results have in effect identified the next areas for exploration,
extending the known Goanikontes Anomaly A 1.5 kilometres to the north and identifiednumerous new areas north of the Swakop River along the Anomaly A trend. Of significance is the anomaly identified on the eastern contact of the dome. This anomaly is of a higher tenor than the signature of the Goanikontes Anomaly A. The southern end of the Goanikontes dome lies under cover and any potential mineralisation would be buried. Spot anomalies along this contact indicate mineralisation may be continuous around the dome nose under this cover. The eastern anomaly is located where the Alaskites are exposed in outcrop.

In all, the entire contact around the nose of the dome, over a total strike length of 14 kms, cannow be considered to be highly prospective for primary uranium mineralisation. At the Swakop River licence, EPL3346, the processing has highlighted the Elspe surface uranium anomaly. The areal extent of the anomalism is far greater than what was previously thought and crosses the Swakop River. The geophysical data will be used to define a soil sampling programme which is to commence immediately. Drilling planned to commence thismonth will test the Elspe anomaly and the anomalism seen against the licence border with Paladin’s Langer Heinrich deposit.

Drilling is planned to commence at Goanikontes next week and Swakop River the following week. The data has highlighted targets that will be investigated immediately and sampling and mapping programmes that will be commenced in conjunction with the current drill programme.

Drilling in Namibia is expected to continue until the end of the year.


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## chris1983 (7 September 2006)

hmm 89 and climbing.  Anyone else enjoying the ride?


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## Rafa (7 September 2006)

its been quite a ride...

with a market cap of > $40mill,
wonder how long this can continue for...


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## chris1983 (7 September 2006)

Rafa said:
			
		

> its been quite a ride...
> 
> with a market cap of > $40mill,
> wonder how long this can continue for...





In my opinion it will keep going.  You can see why the SP has risen.  Previous drilling has allready confirmed uranium at Goanakontes and then in their last release they have extended the strike length of the goanikontes dome.  If the uranium mineralisation continues it is possible a large deposit can be mapped out.  Of course we have to wait for the drilling program to get underway to assess everything in a clearer viewpoint but it just gets better as time progresses for Bannerman.

Not only do they have the Goanikontes deposit but they have the Elspe channel to contend with aswell.  Being an extension of the Langer Heinrich channel I am hopeful that they will find uranium there.

So in a perfect world they will have large deposits within the Elspe channel and at Goanakontes.  Both of these uranium targets are adjacent to the Langer Heinrich and Rossing mines.  The SP has risen considerably because investors are speculating that they are sitting on something very valuable.  If the Elspe channel doesnt come back positive they still have their Goanikontes prospect so all will not be lost.

"The new targets identified lie along the contact of the Goanikontes Dome and within a structural unit not previously known about. The domal contact was a target for future exploration by the company, the north east trending structure was previously an unknown potential host for mineralisation. The geophysical results have in effect identified the next areas for exploration, extending the known Goanikontes Anomaly A 1.5 kilometres to the north and identifiednumerous new areas north of the Swakop River along the Anomaly A trend. Of significance is the anomaly identified on the eastern contact of the dome. This anomaly is of a higher tenor than the signature of the goanikontes Anomaly A. The southern end of the Goanikontes dome lies under cover and any potential mineralisation would be buried. Spot anomalies along this contact indicate mineralisation may be continuous around the dome nose under this cover. The eastern anomaly is located where the Alaskites are exposed in outcrop.

In all, the entire contact around the nose of the dome, over a total strike length of 14 kms, can now be considered to be highly prospective for primary uranium mineralisation. At the Swakop River licence, EPL3346, the processing has highlighted the Elspe surface uranium anomaly. The areal extent of the anomalism is far greater than what was previously thought and crosses the Swakop River. The geophysical data will be used to define a soil sampling programme which is to commence immediately. Drilling planned to commence this month will test the Elspe anomaly and the anomalism seen against the licence border with Paladin’s Langer Heinrich deposit.


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## chris1983 (8 September 2006)

Bannerman hit a low today of 86 cents.  I dont know why.  I cant see why anyone would sell these at that price when support has never been lacking.  Good luck to those who jumped on today.  The soil sampling has commenced allready as stated by their message and drilling is planned for next week.  The wheels are in motion.

I really have faith in this one and have believed in it for quite some time.  Its not a matter or finding uranium as they have proven it is there allready.  Its now a matter of getting a JORC resource estimate.

If anyone can shed some negative light onto this stock do so.  I just cant see anything wrong with it.  They are in the best position possible.


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## chris1983 (8 September 2006)

Below is the Fat prophets buy recommendation that was made on the 30th of August.  I've been trying to find it and all this time it was on their site.  Link is below for anyone who wants to have a read.

http://www.bannermanresources.com.au/docs/FatProphets30Aug2006.pdf


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## Matt123 (11 September 2006)

BMN has a lot going for it this week. Drilling start this week (possibly today), more drilling starts next week, the directors are in Namibia with some UK investors and Uranium spot prices have hit an all time high. I'm banking on a fantastic two weeks, as well as the rest of the year. $1 this week IMO.

Does anyone know the time frame for when drill results will be released? I've heard times ranging from 6 weeks after drilling commences to around 2 months. Looks like they will be very good as well


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## chris1983 (11 September 2006)

Matt123 said:
			
		

> BMN has a lot going for it this week. Drilling start this week (possibly today), more drilling starts next week, the directors are in Namibia with some UK investors and Uranium spot prices have hit an all time high. I'm banking on a fantastic two weeks, as well as the rest of the year. $1 this week IMO.
> 
> Does anyone know the time frame for when drill results will be released? I've heard times ranging from 6 weeks after drilling commences to around 2 months. Looks like they will be very good as well




Hey Matt,

I think we will have to be holding for awhile before results are released.  First step is drilling to start.  Plus the results from the soil samples.  I dont know the general time frame but maybe someone else will enlighten us.  Extracts results took ages.  This is going to be a great long term hold.  Thats my opinion.  

From where did you hear the directors were in Namibia?


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## chris1983 (11 September 2006)

Dropped 5 cents or 5.5% today.  Interesting that people would sell off right before drilling is to start in a prime location.  They have had a huge rise though so I guess its normal for a retrace in their SP. It will be interesting to see what happens after the soil sampling results are returned from the Elspe channel.

They should be breaking the dollar mark simply off speculation.  They are too close to the Langer heinrich channel not to have more rises in their SP.


----------



## chris1983 (12 September 2006)

Wow I think we hit 73! haha all these panic sellers.  They are gunna be sad in the next few months.


----------



## Matt123 (12 September 2006)

Haha, I wish had some extra cash lying around to pick some up at these prices. They all sell when metal prices fall, but uranium prices remain high. It's just sad.


----------



## chris1983 (12 September 2006)

Hey Matt,

Yeah your right.  I dont understand why uranium stocks are following the metal trend.  Uranium prices are at all time highs and it doesnt look to be stopping.  It's just people running scared from the market atm.  There has been good support for Bannerman though.  I can see it ending above 80 by the end of trade.

I feel for all those sellers.  They will look back in 8 months time and say.  Wow..I had them..but I sold them at 73 cents


----------



## ALFguy (12 September 2006)

Certainly is fighting against the market trend today - very impressive.

Thinking about jumping in soon.
Have some investor house friends who say this has huge potential.


----------



## chris1983 (13 September 2006)

ALFguy said:
			
		

> Certainly is fighting against the market trend today - very impressive.
> 
> Thinking about jumping in soon.
> Have some investor house friends who say this has huge potential.





Hey Alfguy,

If you read up on them you will see they have huge potential.  Had a strong day today.  Finished at 86 cents.  Has rebounded strongly after hitting 72.5.  Interesting thing to note is that the asking price for the options is at 87 cents when the current price of the shares is at 86 cents.  The exercise price is at 7 cents so the cheapest price you can get the options at for the time being is 94 cents.  There isnt really many sellers. If people decide to jump in when drilling commences or the soil samples from the elpse channel are returned they will have to pay for them.  Thats just my opinion.  Probably lots of people dont like this stock.  I guess im just a believer.


----------



## chris1983 (14 September 2006)

Now I would classify that as another breakout.  94 cents has just been broken.


----------



## aobed (14 September 2006)

chris1983 said:
			
		

> Now I would classify that as another breakout.  94 cents has just been broken.




Good call.. I'm riding this one out as well


----------



## chris1983 (14 September 2006)

Yeah they hit 1.05

Must be something happening under wraps..

Maybe its drilling has commenced..


----------



## aobed (14 September 2006)

chris1983 said:
			
		

> Yeah they hit 1.05
> 
> Must be something happening under wraps..
> 
> Maybe its drilling has commenced..




Finished at 1.07 nice increase of ~24%   Quite amazing given no news was released today.  Not too many seller either.. looks like they're holding on


----------



## chris1983 (14 September 2006)

aobed said:
			
		

> Finished at 1.07 nice increase of ~24%   Quite amazing given no news was released today.  Not too many seller either.. looks like they're holding on




Yeah they are holding on.  Check the options.  The ask atm is 1.20.  Not many sellers at all.


----------



## Morgan (14 September 2006)

Nice call and congrats to those holding this one.
Unfortunately I decided instead to jump on MTN during the panic earlier this week   
Hopefully one day MTN will also get its day in the sun  :


----------



## Rafa (14 September 2006)

why not just have both!
half and half...

i'm enjoying the ride so far... especially after the heavy falls in some of my other stocks the last few days, its pretty much cancelled all my losses!



 :jump:  :jump:  :jump:  :jump:


----------



## Matt123 (14 September 2006)

Although no announcement has been made concerning a tour for UK investors in Namibia, there are rumours that one has gone ahead. There is also talk on other forums that the tour finished today and the increased SP was due to the investors bying in. Just rumours and speculation though from what I've read so far.


----------



## chris1983 (14 September 2006)

Hey Matt.  I found those forum posts about the UK investors.

"Post #1244703 - start of thread 
ASX Code	BMN - BANNERMAN RESOURCES LIMITED

Have a look at the successful history of the new BMN Chairman; A.Clayton. 

Previous company price appreciation of over 600% at his previous company with him at the helm.

All Directors and A. Clayton in Namibia from Sunday night with UK Institutions and also local Brokers.

Drilling starting maybe this week; next week at the latest."

Below is details on A.Clayton taken from Bannermans website

"Non Executive Chairman
Alastair Clayton

Mr Clayton is a qualified geologist with a post graduate diploma in Finance and Economics from the Securities Institute of Australia. Alastair has over 10 years experience in the mining and resources sector and has worked in Australia, Africa, Asia and Europe in both a technical and corporate capacity. Now residing in the UK, Alastair is the principal of Synthesis Capital Resources, a London Resources Advisory business. Alastair is an executive director of South China Resources PLC, an AIM listed company with base metals projects in China. Alastair brings a wealth of financial and corporate expertise to the Company with particular access to European markets."

Pretty interesting..hes an executive director of South China Resources PLC.  Now this company has base metals projects in China. He is also linked with Synthessis Capital Resources..an Advisory business in the UK! This guy sounds like he has ties everywhere.  The ties with China is very very interesting.  Thats the bit that captured my eye.


----------



## chris1983 (15 September 2006)

Down atm.  Should be interesting to see if they hold above 1.00

They did hit 1.10.  No news.  News is anticipated to come out.  Atleast in regards to the commencement of drilling.  That might be for next week. Some people wont hold out for that though.


----------



## Matt123 (15 September 2006)

I've just had a look at it again and the sellers have dried up. Already had some good volume. I don't think it'll go below $1.05 again today with that buying support building. There's a possible finish of $1.20 or higher if these sellers keep holding back and the buyers keep chasing.


----------



## aobed (15 September 2006)

Matt123 said:
			
		

> I've just had a look at it again and the sellers have dried up. Already had some good volume. I don't think it'll go below $1.05 again today with that buying support building. There's a possible finish of $1.20 or higher if these sellers keep holding back and the buyers keep chasing.




I think you're right.. it has been a great ride so far.  If we have any positive news at all it'll be quite interesting to see what happens to the share price.


----------



## chris1983 (15 September 2006)

The shares atm are 1.05.  The oppies are also 1.05.


----------



## chris1983 (18 September 2006)

BMN have hit 123.5 this morning still with no news.  It will be interesting to see what news they release.


----------



## chris1983 (19 September 2006)

Well the ASX putting a speeding ticket on this hasn't slowed it down


----------



## Sean K (19 September 2006)

Congrats on this one Chris. Must be tempting to start taking some out. Great pick.


----------



## chris1983 (19 September 2006)

Thanks mate.  It is very tempting but Ive decided to hang on for now.  I feel that its still early days for this stock.  I just think it has the potential to go a lot further.  Depending on how big their resource at Goanikontes is and whether they identify uranium within their elspe channel is going to be very important.

I just feel if Paladin are able to have a market cap greater than 2 Billion dollars with their main deposit being Langer Heinrich BMN have huge potential to repeat what they have done.  But They have a lot less shares on issue so its exciting.  I'm probably getting ahead of myself but the way I'm looking at their grounds in Namibia is that they have two very large deposits there.


----------



## chris1983 (19 September 2006)

Well they havnt really held firm.  Pulled back sharply after trading almost 2 million shares in the high 120's bracket.  I think a few investors are reacting to no news being released.  Im also awaiting news.  Doesnt bother me though..I'm in for longer term.  Its a chance for some investors who believe in their potential to jump in on the retracement.


----------



## chris1983 (20 September 2006)

Doing very well today in a market that is down 50 points.  Sell off this morning pushed the shares down to 1.13.  Have rebounded well to 1.22.  Maybe its the next phase of their uptrend.


----------



## chris1983 (25 September 2006)

Getting smacked today.  Hit 108.5.  I believe this as a bargain price but what would I know


----------



## Matt123 (26 September 2006)

Agreed. Looks like it'll hang around the $1.10 to $1.20 mark until the next announcement. Could always skyrocket though, has a history of doing that


----------



## chris1983 (27 September 2006)

Picking up in volume again.  Up to $1.22.  Maybe because the market is up 76 points?  Uranium prices havnt gone down so a jump in the market shouldnt affect uranium stocks too much.

Maybe news is on the horizon


----------



## chris1983 (11 October 2006)

Well some people are selling out because there has been a delay with the news on drilling.  Great buying opportunity at these prices.  Nothing has changed with their tenements.  We all know they have uranium at Goanikontes.  Historic drilling.

I don't know why you would sell when they have prime real estate next to Paladin and the Rossing mine.


----------



## chris1983 (12 October 2006)

Guys the latest research report by Carmichael is below if you want to have a look.

http://www.bannermanresources.com.au/docs/BMN26Sep2006.pdf

They had all the brokers over there.  Nice little photo of it on the Carmichael research report.  Look at Alastair Claytons profile.  He is the principal of Synthesis Capital Resources, a London Resources Advisory business.  Also has ties with China.  

"Non Executive Chairman
Alastair Clayton

Mr Clayton is a qualified geologist with a post graduate diploma in Finance and Economics from the Securities Institute of Australia. Alastair has over 10 years experience in the mining and resources sector and has worked in Australia, Africa, Asia and Europe in both a technical and corporate capacity.

Now residing in the UK, Alastair is the principal of Synthesis Capital Resources, a London Resources Advisory business. Alastair is an executive director of South China Resources PLC, an AIM listed company with base metals projects in China. Alastair brings a wealth of financial and corporate expertise to the Company with particular access to European markets."

Bannerman is in such an enviable position.  They will raise funds at 90 cents to a dollar to sophisticated investors?  If they bought 20 million shares onto the market they would have $20 million.  They would still have a very low share holding with money to keep their drilling campaign going for ages.  Look at the history of Paladin.  They had to raise money early at cheaper prices.  Wont happen with Bannerman.


----------



## ALFguy (12 October 2006)

Softened up now and looking good to either get in or top up at $1.

What to do...what to do


----------



## Sean K (12 October 2006)

It's tripped in 3 months....concerning.

Touching bottom of B Band....just about oversold.....

If I was in at $0.30, I would have taken profits at $0.60, $0.90 and $1.20....

Hard one to pick now......could do anything...

That's my sage advice.


----------



## chris1983 (12 October 2006)

Its a great buy atm.  They could raise money at a lower price.  Sophisticated investors always get it at a discount though.  I think its a good thing if they raise money soon.  Im guessing its allready on the cards since they had the brokers over there some time ago.


----------



## chris1983 (12 October 2006)

kennas said:
			
		

> It's tripped in 3 months....concerning.
> 
> Touching bottom of B Band....just about oversold.....
> 
> ...




Well i bought in quite early.  In my mind this is a hold.  People would of taken profits long ago if they were me and wasn't looking at the long term.

They have the best ground in Namibia.  They have an existing deposit being Goanikontes which runs along the strike of Rossing.  Their Elpse channel is an extension of the Langer Heinrich channel.  

Did you read the research report Kennas?  This is your time to get in.  They will raise money probably at around 90-1.00.

If they bought 20 million shares onto the market they will get 20 million dollars to fund their drilling.  Great position for a uranium stock atm.


----------



## Matt123 (12 October 2006)

Apperently there will be an announcement made soon about a delay in drilling due to difficulty in securing a rig. I bought in early in the 30's and topped up in the 80's so I'm not worried in the least. The medium to long term prospects are unchanged, I'm still hoping for $5 in one to two years  I'm just debating whether I should buy more at these prices, don't think it'll go much lower, should hit $1.50 once drilling results start to filter through. I'm just short on cash lol


----------



## chris1983 (12 October 2006)

Hey Matt,

Its a good buy atm.  My holding is large enough for the time being.  If I had a stack of cash I would buy more.  Thats not the case.  Im pretty confident with this stock.  The Carmichael report was a good read.


----------



## chris1983 (16 October 2006)

hmmm looks like there could be some good news on the horizon?  Volume and SP is increasing..Or am I just hoping for good news.  I still think they were a deadset buy at a dollar.


----------



## chris1983 (27 October 2006)

Anyone keeping an eye on this one?  Gunna keep going.  Maybe not today..but it will eventually IMO


----------



## chris1983 (27 October 2006)

Hitting all time highs today..on no news..looking very strong to break out..one decent bit of news will push it well through 1.35


----------



## kevro (27 October 2006)

Hi Chris, how does LOU look to you as a younger BMN. Maybe oil and/or gas funded as well an low market cap. Bit similar to BMN going back a few months.


----------



## chris1983 (27 October 2006)

Yeah Ive been watching them.. They look good..I dont hold but my dad does.  Too bad I couldnt pick any up at 10 cents before they went on a run.  Still cheap atm.  I would buy them but the cash factor comes into play.


----------



## chris1983 (30 October 2006)

The $1.60 forecast by Carmichael is getting closer.. $1.425 still on no news.  They have been aircore drilling the elpse channel which is an extension of the Langer Heinrich channel..maybe they have mapped out some good mineralization for diamond drilling.

Its anyones guess..or maybe they are just going up on expectations.


----------



## chris1983 (30 October 2006)

ALFguy said:
			
		

> Softened up now and looking good to either get in or top up at $1.
> 
> What to do...what to do




Alfguy..did you get in?


----------



## chris1983 (31 October 2006)

DRILLING COMMENCED

3,500m Diamond drilling programme at the Goanikontes A
9,000m Air Core drilling programme at Swakop River.

GEOPHYSICS REPROCESSED
Extensive highly U anomalous stratigraphy identified for over 37 km at Welwitschia.
Radiometric anomaly uncovered at Swakop River within the Elspe channel.

It is very important that they have uncovered a radiometric anomoly within the elpse channel. They believed it was under the surface.

Is that image in the activities report above the statement "Uranium oxides on fracture plane within GOADH0010, 134m depth" from their first drill????


----------



## chris1983 (31 October 2006)

Hmm wow that image is from the first drill core...some nice yellow in that image.  Might see Bannermans SP rocket again tomorrow.


----------



## ALFguy (31 October 2006)

chris1983 said:
			
		

> Alfguy..did you get in?




NO!   

This is the second time a broker friend of mine said BMN was gonna be big and to get in. Firstly around 30c and then again at $1. Why oh why didn't I listen.

Still think there's more to go, but psychologically, it feels a bit expensive!


----------



## chris1983 (1 November 2006)

Well I also sold a small portion..maybe I shouldn't have..cant complain when you make a profit..but mate..im not touching them anymore.  Im gunna lock my nice holding away in the corner.  Bannerman are following the tracks of Paladin.  People might say I'm pushing them for something way too big..but it seems that way to me.

In their activities report they show an image of the _"Exposed ‘E-type” Alaskite about 3km north of Goanikontes Anomaly A (car for scale)" _ They are only Diamond drilling the Anomaly A atm.

They also explain the different types of Alaskite.  See below.

_"There are a variety of alaskite types identifiable in the region in the high strain zones associated with granitic domal features. The alaskites are classed as ‘A’ to ‘F’ types with classes ‘D’ and ‘E’ recognised as being the host to significant uranium mineralisation in the district. These are easily recognisable in the field and in the core. Accordingly regional geological mapping and reconnaissance of the prospective horizons identified from the geophysics will commence during the forthcoming quarter to identify future drill targets."_

This is just what is exposed on the surface within their Goanikontes license...and this isn't even taking the elpse channel into account which smothers the Langer Heinrich deposit.

Then you have the good news from their first drill.._"Extensive widths of ‘D-Type” alaskite was encountered in the first hole and is due to be sent for assaying in South Africa by the end of this week."_ and they make it known with a nice big image to prove they have something.  I'm a true believer in this stock.  Pretty excited to see whats going to happen now that they have got their drilling program in full swing.

They are progressing all the time and in my mind are still a buy..but its hard to buy now knowing that you could of got them cheaper earlier I know..anyway goodluck Alf.  If they do fall I would give it some serious thought to entering.


----------



## chris1983 (2 November 2006)

Lets put the key points out below for people to see.  This is from the latest Carmichael report.  I’ll draw some comparisons with Paladin Resources.

*KEY POINTS
Uranium price has increased by 258% in just over two years
After 2010, uranium shortages are forecast to be acute
BMN have two advanced Namibian uranium tenements totalling 1,313km²
Goanikontes prospect has a 10 to 200Mt target at 0.02 to 0.05% U3O8
Swakop River tenement surround Langer Heinrich deposit on three sides
Three early-stage uranium tenements in Botswana totalling 2,308km²
Several projects may have JORC Inferred Resources within 12 months*


_Paladins Resource

Ore Reserve Estimate 	32.2Mt of ore @ 0.07% 
(Measured & Indicated) 	(22,200t U3O8)	

Total Inferred Resource	40Mt of ore @ 0.06% 
                                  (23,800t U3O8)_


Now what I find interesting is where they have the Goanikontes prospect alone at 10 to 200 Mt at 0.02 to 0.05% U308.  Lets say they have 100 Mt of Ore at a low grade of 0.03 to keep things conservative.  If you work it out that is *30,000t U3O8*

No one really knows how much Ore they have..its all guess work..but from some of their images etc I think they have a lot which is why it was estimated up to a potential of a 200 Mt target

It looks extremely healthy when we havn’t counted in their Swakop river tenement (tenement smothering Langer Heinrich) and we also havnt counted in things such as the *"Exposed ‘E-type” Alaskite about 3km north of Goanikontes Anomaly A (car for scale)"* Which has an image in their last activities report(I have attached it below).  Add their Botswana tenements into the mix as the icing on the cake and we have one healthy looking company. 

I have also posted an image from the drill core of their first drill.  Description in the latest activities report is *"Uranium oxides on fracture plane within GOADH0010, 134m depth."*

They are still hitting very visible uranium at great depths!  We still need more drills to happen but its a great start IMO.

Okay enough of my talk..im waiting for any Criticism on what I have said.  This is only my thoughts people.


----------



## jj0007 (7 November 2006)

Does anyone have the email address for Bannerman?


----------



## nizar (7 November 2006)

This has got to be stock of the year, surely.
Chris, well done once again, you're a champion   
What did this start the year at, was it 10c? thats beautiful....


----------



## chris1983 (8 November 2006)

Thanks Nizar..im no champion though. haha   I still think Bannerman have a fair way to go.  Need the current drilling to be positive but it looks as if things will pan out that way.  If GDN fail on me tomorrow that will be the biggest flop of the year too.


----------



## chris1983 (14 November 2006)

Broken its previous high of 1.56 which was made pre share split.  Hit 1.60..  maybe news is on the horizon


----------



## Rafa (14 November 2006)

this stock never ceases to amaze me...
great work for those holding it..
and chris thanks for the regular updates too...

i have no idea what the SP is valued at, but whilst its galloping away, i am hanging on for the ride...


----------



## chris1983 (14 November 2006)

No worries..not many people following this one so I just write how its going..

There was a fat prophets article just recently released.  One of the members on another forum did a quick summary of what they spoke about in the report.


*"Fat Mining 99 - Fat Prophets Mining/Resource: * 


_"# Limited downside sp risk.

#FP have only recommended 2 other U stocks; Marathon and Valhalla, both of which have now been subject of takeover activity.

#BMN has now commenced fieldwork on all its African exploration tenements.

# BMN Welwitschia project hosts large scale targets of outstanding potential Ongoing drilling work to provide enormous excitement.

#Botswana tenements seen as a real sleeper with the market yet to realise the value of the tenements.

#Results show the Elspe anomaly to be much larger than previously thought as well as showing extension into area north of Swakop River.

#BMN defined as having solid exploration/resource assets with erealistic possibility of achieving production status in medium term.

Whole article is very positive. Very worthwhile being a subscriber to FP. Look forward to the results!! "_

Though it may be of interest to the holders.  

Regards

Chris


----------



## chris1983 (14 November 2006)

No one wants to sell.

The ask for BMNO is 1.795

BMN trading at 1.61


----------



## nizar (14 November 2006)

chris1983 said:
			
		

> No one wants to sell.
> 
> The ask for BMNO is 1.795
> 
> BMN trading at 1.61




wen do oppies expire and at what price?
they are actually trading at a premium to the heads, whats that about??


----------



## chris1983 (14 November 2006)

The oppies are only priced at 1.42 atm

the bid is 150.5 and the ask is 1.795

There are just no sellers left..someone will probably jump in and sell soon..but it just shows how tightly they are being held.

BMN is 1.65 now..definately must be something going on.


----------



## nizar (14 November 2006)

chris1983 said:
			
		

> The oppies are only priced at 1.42 atm
> 
> the bid is 150.5 and the ask is 1.795
> 
> ...





yeh but when do they expire?
and how much is the exercise price ie. to convert them to FPOs?


----------



## chris1983 (14 November 2006)

expiry date is 31/05/2007

Exercise Price (cents): 6.67


----------



## chris1983 (14 November 2006)

This might be the reason...partially...I think there is more to it though.

Sydney - Tuesday - November 14: (RWE Aust Business News) -
Paladin Resources (ASXDN) said the royalty framework for the Namibian
mining industry has been resolved with the Namibian government.
        The percentage liable to the mining commissioner for the benefit
of the State Revenue Fund is 3.0 per cent for precious metals, 3.0pc for
base and rare metals, 2.0pc for semi-precious stones, 2.0pc for nuclear
fuel minerals, 2pc for industrial minerals and 3pc for non-nuclear fuel
minerals.
        The 2pc royalty now specified on nuclear fuel minerals will have
a positive impact on the project economics for Paladin against the
previous 5pc royalty factored in.
        Its shares were down 12c to $6.25.
        ENDS


----------



## chris1983 (14 November 2006)

This is the latest Fat Prophets article on Bannerman.  Worth a read.

http://www.bannermanresources.com.au/docs/FatProphets08Nov2006.pdf


----------



## Rafa (14 November 2006)

makes for a good read...
thanks for that chris.

been holding a fair few since the high $0.60's...

been procrastinating since its was $1 as to when to top up my holding...
ended up topping up on MTN instead! how dumb am i!!!

but whilst MTN never ceases to disappoint, this one never ceases to amaze!


FatProf certainly don't recommend adding tho, they just say hold...

Is anyone on this forum planning on buying more? I'd be interested to hear the reasons?


----------



## Sean K (14 November 2006)

Rafa said:
			
		

> makes for a good read...
> thanks for that chris.
> 
> been holding a fair few since the high $0.60's...
> ...



No, my brain is running out of space trying to keep track of all these damn U stocks. What's U3O8 stand for again?


----------



## chris1983 (15 November 2006)

Hey Rafa.  I sold some at 1.45.  Only reason I sold some is because I'm still holding quite a reasonable amount and I wanted to put some money into ERN (Another namibian uranium play).  I dont think there is any reason to sell.  I would recommend a buy to others because I honestly believe this is the next Paladin.  Maybe im too confident but they seem to be repeating everything Paladin did..but with less shares on issue...and I think they will have a larger deposit or deposits than Paladin.

Just have to wait for all their drilling to be completed now.  Its going to be fun.

IMO I believe fat prophets have recommended a hold on BMN because they allready put out a buy at 68 or so cents to their members in the first report.  They are very bullish in their report and they obviously believe they have a long way to go when they write statements such as,

"This underlines our fundamental view that investors must be diligent and invest only in those uranium companies that have solid exploration or resource assets with a realistic possibility of achieving production status in the medium-term."

They have stemmed away from accumulate because they have done their job in pointing this stock out to their members and they have no need to tell them to accumulate.  I think its up to the individual if they read the report and believe they can go further..which I definately believe in.


----------



## toc_bat (16 November 2006)

> Bannerman are going strong. Currently at 90 cents and the ask is 92. They are currently up 16 cents. Still plenty of room for these to move since their shares on issue is just over 14 million shares.




hi all

i think i may be asking astupid Q, but that quote is from late april early may, but when i look at the chart for bmn the sp was around 35c, am i missing something or is my anz chart wrong?

thanks


----------



## Sean K (16 November 2006)

toc_bat said:
			
		

> hi all
> 
> i think i may be asking astupid Q, but that quote is from late april early may, but when i look at the chart for bmn the sp was around 35c, am i missing something or is my anz chart wrong?
> 
> thanks



There was a share split.


----------



## toc_bat (16 November 2006)

kennas

thanks for the quick reply,

j


----------



## Rafa (16 November 2006)

there must be something wrong with me...  
but i am actually hoping BMN falls back to 1.30 to 1.40 ish... 
even tho i hold!

for a start, i am amazed at its present run, and i think a breather will do it good,
but also, i would love to be able to top up some more...



hmm...


----------



## chris1983 (16 November 2006)

results will be out in December..so I dont know if it will fall back that far.  Could do though.

Todays action is just a reflection on some profit takers jumping in.  I have recommended another uranium stock.  ERN.  jumped 17 % today.


----------



## chris1983 (17 November 2006)

Holding extremely well. Support comes in when it threatens the previous breakout level of $1.50.


----------



## ekman (17 November 2006)

some analyst had valued this at $1.10 - this stock like AGS has had an amazing run and time to cool down a bit maybe


----------



## chris1983 (17 November 2006)

ekman said:
			
		

> some analyst had valued this at $1.10 - this stock like AGS has had an amazing run and time to cool down a bit maybe





who has valued at 1.10?  Please explain 

Carmichael have put a valuation at 1.60.  Fat prophets believe the share price to go further because they have recommended as a hold to its members.


----------



## ekman (20 November 2006)

I had read an article by fProphets (i may be wrong as i am not a 100% sure on the name) where they said the stock was around $1.10 - this was when the sp was around 60c
I may have the wrong analyst


----------



## chris1983 (21 November 2006)

ekman said:
			
		

> I had read an article by fProphets (i may be wrong as i am not a 100% sure on the name) where they said the stock was around $1.10 - this was when the sp was around 60c
> I may have the wrong analyst




The very first research report was done by Carmichael on the 04/07/05 where they valued the stock at $3.00.  This was made before the share split.  At current prices the shares would be trading at $4.695 if the share split didnt go ahead.  The share split is all history now but it does confuse some people when they look back on the price history.

The next research report was done by Fat Prophets on the 30/08/06.  They recommended a buy at 67.5 cents.  This was recommended after the share split.  So on the old valuation they recommended a buy at $2.025

Carmichael then put out another report on the 25/09/06.

They put out a recommendation when the share price was at 1.10.  This may be where your getting confused. They predicted over a 6 month period a target of $1.60.  They have reached this target.

Fat prophets then put out another report on the 08/11/06 where they recommended that their members *"hold"* Bannerman.  The shares have since hit a high of $1.795 and are trading steady above the last break through level of $1.50.  They are consistantly threatening their high of 1.795 and I think its only a matter of time untill we see a $2 stock.  It wont be long IMO.

Bannerman is heavily backed.  Lots of support when they fall into the 1.50's.  I think tomorrow we can see them back into the 1.60's sp.  Results are due soon and there would be a number of investors not wanting to miss the results.


----------



## LifeisShort (21 November 2006)

I have to say, its one of my favourite stocks. Was aware of this stock back in March and bought a bit of it back then. Waiting anxiously for the results which will give an indicxation at what sort of company we are looking at....support for this stock seems to indicate they might be onto something. Lets hope there are no disappointments in the results. Its still early days with exploration for this company so it'll be interesting what happens next 12 months.


----------



## chris1983 (22 November 2006)

Went down to 1.465.  Fell below the previous breakout point of 1.50 on low volume.  Didnt take long to rebound though.


----------



## chris1983 (1 December 2006)

Another research report.  This time by Hartleys.  Great read fellas.  Enjoy. 

http://www.bannermanresources.com.au/docs/2006/BMN 20061117.pdf


----------



## chris1983 (1 December 2006)

Hartleys believe BMN are still cheap compared to their peers when estimating off a 50MT resource at 0.035%.  You have to remember that the possible resource is estimated at 50 to 200MT..and could be at higher grades.  Its looking good fellas.

_"Though BMN’s share price has appreciated significantly during this period, we do not believe it is overvalued when taking into account the potential size and quality of Goanikontes as well as the exploration potential for Swakop River. Using the indicated strike extent of the mineralised alaskite at Goanikontes combined with the drilling to date and using the Rossing and Valencia deposits as a reference, we believe the potential for BMN to define a 50Mt – 200Mt resource at Goanikontes at approximately 0.035% U3O8 is not unrealistic."
_
_"For comparison purposes, we have assumed Goanikontes has a 50Mt resource at 0.035% U3O8 for 38.6mlbs U3O8. Bannerman’s share of this resource would be approximately 30.9mlbs. Using the BMN closing share price as at 15 November 2006 of $1.61, the Company has a fully diluted market capitalisation of $219.6m. This equates to $7.12/lb U3O8 (~US$5.45/lb). This compares to a Hartleys estimated peer average of approximately $8.06/lb (~US$6.17/lb)."
_
Then I like this part of the article

_"Whilst the Swakop River project has received a lot of attention due to its proximity to Langer Heinrich, it is still at an early stage of exploration. The first pass aircore drilling program is currently underway with results not due until late December 2006 or early 2007. Given the proximity of Swakop River to the Langer Heinrich operation, ifthe project was to host an economic deposit, we believe BMN is unlikely to construct its own uranium processing plant. We think that BMN is more likely to process the ore through Paladin’s plant, or sell the deposit to Paladin, though any agreement would be dependant on Paladin’s plans for the Langer Heinrich plant. If BMN chose this path, it would significantly de-risk the project by reducing capital expenditure and enabling access to early cash flows."_

Keep an eye out for the joint venture once they confirm uranium within the elpse channel.


----------



## ekman (1 December 2006)

Chris - how much has the analyst valued BMN at and would you have a link to that report? tks


----------



## chris1983 (1 December 2006)

The link is above..I posted it.  Go two posts up.  They dont put a definite valuation.  They just believe BMN is reasonably priced compared to its peers when they estimate the price off the minimum amount of uranium they believe they could have.

BMN are drifting downwards atm though.  Impatience is getting the best of a few investors.


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## LifeisShort (1 December 2006)

Patience is a virtue in this industry......results should be available this month. Banners could be a sleeping giant. Thanks for the link to the report. The selling is by speculators. Those in the know are holding on for the long run. Just don't lose your nerve.....I've had this stock since it was around 25c...


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## chris1983 (1 December 2006)

Dont worry my nerve with this is rock solid...ive taken profits along the way..letting the rest run now for the long term.  If I sell I have to pay too much tax so I would rather hold for an extra 4 months anyway.  Ive been holding since 47 cents pre share split.


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## LifeisShort (1 December 2006)

You've done well. Its identifying those stocks before anyone else does that is the trick. Once the punters get in its time to move on and find another story. With this one those its still very early stages so its worth holding on. I'm with you I have to hold till next year for tax reasons.


----------



## chris1983 (1 December 2006)

you have also done very well 

If I was going to place bets I would place bets on the results being good.  Historic drills allready have the answers.  Its the waiting game now and some people cant play that game.


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## chris1983 (6 December 2006)

Yet another research report.  This one is by Tolhurst Noall.  this is a good read for other uranium stocks also so I will post in the "uranium a raging bull thread"

http://www.bannermanresources.com.au/docs/2006/Uranium_Sector_Nov2006.pdf


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## Rafa (6 December 2006)

Wo...
I own 4 of the 6 mentioned, AGS, BMN, MTN and PDN!

Party time... 
 :jump:  :jump:  :jump:


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## Caliente (6 December 2006)

thanks for this read chris! great insight into the field of U players.


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## GreatPig (6 December 2006)

Well I have to say that the mentioned OMC certainly got its bit of Upside Scope today 

GP


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## PureCoco (6 December 2006)

Thanks Chris,  as a newbie the report has saved many more hours... apart from the hours I have already done to begin investing in U..


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## chris1983 (6 December 2006)

No worries guys.  I always liked OMC and UNX also..but I could never put all my money into just uranium stocks.  I currently hold BMN an ERN.  Good luck to all..the uranium sector will remain strong into the future


----------



## LifeisShort (7 December 2006)

Results out next week?!?

This should be interesting.....


----------



## chris1983 (11 December 2006)

Somethings brewing.


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## chris1983 (11 December 2006)

After so many days of retracing..they dont miraculously bounce..This is just my opinion but I bet some insiders know something.  Results are due around this time.


----------



## LifeisShort (11 December 2006)

Its a simple solution. Punters are piling in on results which are due very shortly. Lets hope they are good.


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## chris1983 (11 December 2006)

LifeisShort said:
			
		

> Its a simple solution. Punters are piling in on results which are due very shortly. Lets hope they are good.




Could be punters.  Could be insiders.  Information leaks...either way I think results will be good


----------



## ekman (11 December 2006)

Just bought some Options and then my colleague told me they are expensive. Can someone pl boost my morale (i know its too late now) ...i hope i have done the right thing


----------



## chris1983 (11 December 2006)

hey ekman..ask your colleague why he comes to that conclusion.  I dont think you will lose..but hey thats just my opinion.  Once they confirm the resource at Goanikontes they will take off.  I still believe all the historical drilling results..but they are going to bring confidence to the historical drilling once they post their own results from the recent drilling campaign.


----------



## ekman (11 December 2006)

chris1983 said:
			
		

> hey ekman..ask your colleague why he comes to that conclusion.  I dont think you will lose..but hey thats just my opinion.  Once they confirm the resource at Goanikontes they will take off.  I still believe all the historical drilling results..but they are going to bring confidence to the historical drilling once they post their own results from the recent drilling campaign.



tks Chris1983...i was going to bail out today itself but will hold given your positive thoughts. my friend was of the opinion that i should have gone for the Shares rather than the Options


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## chris1983 (11 December 2006)

ekman said:
			
		

> tks Chris1983...i was going to bail out today itself but will hold given your positive thoughts. my friend was of the opinion that i should have gone for the Shares rather than the Options




well the exercise price is 6.67 cents..even if you picked them up at 1.47..that means in total if you want to exercise your options it will cost you a total of 1.54.  So your pretty much fine with the price you paid.  Dont hold onto stocks because of others opinions..you should read the research reports etc etc..but..they havnt said anything negative yet to make me dislike the stock yet.

All the best.


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## LifeisShort (11 December 2006)

I think the results will come down to the grading of the drilling. There is obviously uranium there but its a matter of how extensive and the all important grading.


----------



## chris1983 (11 December 2006)

yeah..i agree..from historic records the grades are good for namibian standards..Im pretty sure it will just confirm what they allready knew..then we can move onto getting a jorc up.


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## Louieh (12 December 2006)

i bought in at a 1.46 on friday... im glad i did bc the last two days have been a blast to date!


----------



## chris1983 (12 December 2006)

Louieh said:
			
		

> i bought in at a 1.46 on friday... im glad i did bc the last two days have been a blast to date!




welldone.  1.68 now.  you still holding ekman?  Anyway im excited to see the results.  im confident they will be good


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## LifeisShort (12 December 2006)

I've been waiting for the results it feels like from the dawn of time. Not long to go now. There is a lot of punters in this stock now so if there is anything sligtly negative god help us. Even positive news could see an exodus of day traders etc


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## chris1983 (12 December 2006)

LifeisShort said:
			
		

> I've been waiting for the results it feels like from the dawn of time. Not long to go now. There is a lot of punters in this stock now so if there is anything sligtly negative god help us. Even positive news could see an exodus of day traders etc




same here. been holding since early april and it feels like its been forever...its only been 9 months.  I went away for lunch and it looks like profit takers came in hard and fast.  short term price action doesnt bother me with this one...but you always enjoy seeing it go up.  As long as they confirm the grades with their highly anticipated results..i'll be happy to hold.


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## chris1983 (12 December 2006)

The reason why it has halted its run.

_DJ MARKET TALK: US Uranium Sales Plans Hit Paladin, ERA

0454 GMT [Dow Jones] Paladin Resources (PDN.AU) down 42 cents, or 5.8%, at A$6.79 with dealer saying report in Wall Street Journal that US will sell down part of its uranium stockpiles and hence drive prices lower, is affecting stock. Notes that while PDN has run to A$7.45 from A$5 in last 2 months, news causing some caution, despite US Energy Dept first proposing plans in August. Rival producer ERA (ERA.AU) also off in last 2 hours, down 5.5% at A$17.48. (WEL) 

Contact us in Singapore. 65 64154 140; 
MarketTalk@dowjones.com 

(END) Dow Jones Newswires
December 11, 2006 23:54 ET (04:54 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.

Tuesday 12 December 2006 15:54:51:290 AEST_


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## LifeisShort (12 December 2006)

Interesting....shouldn't have any impact on Bannerman though as they are not producing. Share price movements should really be in reference to grading and width. I think all assumptions for Bannerman were made on $40 or less a pound for uranium and they currently sit at over $60.


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## toc_bat (12 December 2006)

at the risk of being told to read through the past months of anns i ask the question: when are the results due approximately? has BMN given some indication of due date?

bye all


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## LifeisShort (12 December 2006)

Yes, results are due late this week or early next week followed by more announcements near xmas time I believe.


----------



## jj0007 (12 December 2006)

If the world is serious about Uranium as an alternative then Price of U must remain high.   At least high enough to attract explorers and hopefully turn some of them into producers.  

So they reckon the US is going to sell down its stockpile?  How much and to who?  I doubt that very much.  

Probably just a ploy to cause a short term price drop for whatever reason     Not unlike what China tried to do 2 years ago when the Government announced that they would deliberately slow down their economy......made metals prices drop in the short term.


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## jj0007 (14 December 2006)

Uranium now $65.50   

http://www.uxc.com/review/uxc_Prices.aspx


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## simplesimon (16 December 2006)

I've been watching these shares for a little while now and I am thinking of buying in what do you think?


----------



## Joe Blow (16 December 2006)

simplesimon said:
			
		

> I've been watching these shares for a little while now and I am thinking of buying in what do you think?




Simon, it is not appropriate for other ASF members to be advising you to buy or not to buy shares in any company. In fact, it is against the law for anyone other than a licensed financial advisor to provide you with any kind of financial advice.

All I can suggest is that you do your own research (this thread is a good place to start) and come to a decision that you feel is right for your particular financial situation.


----------



## greggy (16 December 2006)

Joe Blow said:
			
		

> Simon, it is not appropriate for other ASF members to be advising you to buy or not to buy shares in any company. In fact, it is against the law for anyone other than a licensed financial advisor to provide you with any kind of financial advice.
> 
> All I can suggest is that you do your own research (this thread is a good place to start) and come to a decision that you feel is right for your particular financial situation.



Hi Joe Blow,

I have to agree with you on that one.  There are plent of interesting threads on this forum with good ideas from many knowledgeable traders, but one would be very naive to rely on the info alone in this forum.  After gaining any info from any of the threads people should do their own homework and judge whether things stack up or not.  Thats why at the end of my contributions I put down DYOR (do your own research).
DYOR


----------



## chris1983 (18 December 2006)

Getting very close to that previous high of 1.795.  Currently sitting on 1.75.  If the results are good..wow..its going to be fun.


----------



## Caliente (18 December 2006)

It just spiked 1.78, looks ominously close to that previous high   

What timeframe is that announcement approximately due chris (days/weeks)?

PS - off to the Ashes - arrrrr!


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## chris1983 (18 December 2006)

Supposedly days.

Unless they are delayed.


----------



## Louieh (18 December 2006)

new high 1.80


----------



## LifeisShort (18 December 2006)

Much bigger volumes than normal.....Announcement is surely due any day now. Have good results already been factored into the price?


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## chris1983 (18 December 2006)

No way.  If its good results it confirms the historic drilling.  They believe there could be 200 million tonnes of ore there at around 300-500 ppm just at the Goanikontes prospect alone.  Thats would be a world class deposit.  It will continue to move up IMO.

The results I'm interested in is the aircore drilling from the elpse channel.  If they start mapping out uranium mineralisation there..then talks should commence with Paladin in regards to processing the ore at the Langer Heinrich mine.


----------



## LifeisShort (18 December 2006)

Did anyone see and read the report on BMN in Saturday Fin Review? One of the stocks to watch in 2007? Perhaps thats the reason why it went up the way it did today. Its augurs well for the future lets hope.


----------



## chris1983 (19 December 2006)

Yeah I read the report.  They are bullish on the outlook of Bannerman.  What they said.

"One uranium stock that has caught analysts' eyes is Bannerman.  Despite it having risen 2000 percent so far this year, Wendt says Bannerman is a great address play since it is situated adjacent to Paladin Resources and Rio Tinto in Namibia"

Nothing new in what he said.


----------



## nizar (19 December 2006)

chris1983 said:
			
		

> No way.  If its good results it confirms the historic drilling.  They believe there could be 200 million tonnes of ore there at around 300-500 ppm just at the Goanikontes prospect alone.  Thats would be a world class deposit.  It will continue to move up IMO.
> 
> The results I'm interested in is the aircore drilling from the elpse channel.  If they start mapping out uranium mineralisation there..then talks should commence with Paladin in regards to processing the ore at the Langer Heinrich mine.




Is 300ppm economically viable?


----------



## mmmmining (19 December 2006)

nizar said:
			
		

> Is 300ppm economically viable?




Yes, nearby:
Valencia deposit 190ppm is doing a feasibility study, and consider it economically viable;
Rossing mining ore grade 180ppm to 420ppmm, they are live and kicking; and

Trekkopje deposit 110ppm to 120ppm want to do a feasibility study

The best is Langer Heinrich so far, and lower the cut-off grade a couple times already. I think now is 200ppm.

I believe EXT might top Langer Heinrich's ore grade.


----------



## chris1983 (19 December 2006)

Currently at 192..ask is 1.94

No signs of overheating just yet


----------



## empireMG (19 December 2006)

chris1983 said:
			
		

> Currently at 192..ask is 1.94
> 
> No signs of overheating just yet





But the ass just droped out, we need the announcement soon!!!!


----------



## chris1983 (19 December 2006)

empireMG said:
			
		

> But the ass just droped out, we need the announcement soon!!!!




I think its all looking pretty good?  They hit a high of what? 1.93?  They are currently 1.87 and holding.  Heavy volume and trading is going through.  If the results are bad a lot of people will get burnt.  Cant see it happening.  Not unless the historic drilling is a fake.


----------



## LifeisShort (19 December 2006)

If they don't put out results soon they will get a speeding ticket. There must be a hold up and backlog.


----------



## chris1983 (19 December 2006)

yeah.  I agree.  They could easily say the rise is due to media exposure within the AFR though.


----------



## simplesimon (19 December 2006)

when are the results due does anyone know. i am hoping that they arent falsified results as well. a lot of market hype on this but am hanging in there for the best.


----------



## Rafa (19 December 2006)

its amazing...

i was more content when it was ranging between 1.40 and 1.60 than now when its flying...

these rising prices are stressing me out  

go figure that one!!!


----------



## chris1983 (19 December 2006)

simplesimon said:
			
		

> when are the results due does anyone know. i am hoping that they arent falsified results as well. a lot of market hype on this but am hanging in there for the best.




On the 8th of November Fat Prophets released a report on BMN.  They disclosed when the results should be due.

"The company has acquired a down-hole gamma ray spectrometer that will log the drill holes, enabling it to immediately ascertain uranium values from the drilling. The results of the current drilling program should be available within the next month."

So it could be at anytime.  Why would they be falsified?  Anyway best of luck.  This isnt luck from my point of view..but from the way how your hoping..hanging in for the best..you dont sound too confident.  You should be


----------



## chris1983 (19 December 2006)

Rafa said:
			
		

> its amazing...
> 
> i was more content when it was ranging between 1.40 and 1.60 than now when its flying...
> 
> ...




I agree Rafa.  Its because..its getting to a point..where you start to think..wow its run hard...should I lock in more profits. I'm holding what I have left though.


----------



## simplesimon (19 December 2006)

Just considering buying some more. No doubt going to go ahead with the deal because am expecting the best


----------



## Rafa (19 December 2006)

yeah, don't get me wrong, i'm holding too...
but as the share gets more and more coverage, there are lot more short termers entering the picture which makes it a lot more volatile...


----------



## toc_bat (19 December 2006)

ok newbie time

ive been watching this since last $1 mark, and missed out, then saw it come back to $1,40 mark really almost bought it, basically ive run out of money, so now i am thinking ive missed out again, anyway still have no money,

crystal balls anyone - so how much can this soar if the ann is good or great? will double in a few days? or if the ann is average will it hang around or will it be dumped?

bye all


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## Rafa (19 December 2006)

toc_bat said:
			
		

> crystal balls anyone -




Sorry mate...
if you want an opinion on the company, then read this whole thread...
you will probably work out we all think this is a great stock.

However, if your just after share price target, well, thats anyones guess...
the annoucement can be great and the share price could half...

the market will price the share however the hell it wants too.


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## toc_bat (19 December 2006)

Rafa said:
			
		

> Sorry mate...
> if you want an opnion on the company, then read this whole thread...
> you will probably work out we all think this is a great stock.
> 
> ...




oh well worth a try,

i know its a great co and i know u all think so too, as ive read the thread, also this years increase in sp is phenomenal, i have been wanting to get in this one but aaaaahhhhhh just so many to chose from, they all glitter and shine alike, and pocket moneys all been spent last tuesday, anyway i thought some of you long term holders have a feel for this one, i guess it cant double immediately as it would almost be approaching PDN and they are a real time producer, guess ill just have to wait and see and miss out


----------



## chris1983 (19 December 2006)

toc_bat said:
			
		

> oh well worth a try,
> 
> i know its a great co and i know u all think so too, as ive read the thread, also this years increase in sp is phenomenal, i have been wanting to get in this one but aaaaahhhhhh just so many to chose from, they all glitter and shine alike, and pocket moneys all been spent last tuesday, anyway i thought some of you long term holders have a feel for this one, i guess it cant double immediately as it would almost be approaching PDN and they are a real time producer, guess ill just have to wait and see and miss out




Toc you want to know my price valuation for this?  Scroll back through the threads.  I did a comparison between Paladin and Bannerman on page 6 of the BMN thread.  Added some pretty pictures etc.  Now if you look at the market cap of Paladin..you'll have a guess where I think Bannermans SP can go to.


----------



## simplesimon (19 December 2006)

so true Rafa im in it for the long haul. I got my faith in the company its the market that prices just hope all goes well. good luck for the stayers. fingers crossed anytime soon


----------



## LifeisShort (19 December 2006)

I've been in since 25c and haven't sold one share yet, I came close on a few occasions but then just slapped myself silly and looked at Paladin. These are very important steps for the company but only the starting steps......At these levels though the share price has run hard on anticipation....is it something else we don't know about? There are many things in the companies favour mainly location, location, location. The broker reports had valuations of around 1.60 but were based on factors such as much lower uranium price and their historical data. If they come out with more then we already know then its good. What the share price might do is anyones guess....it could halve. One can come up with astronomical valuations on BMN using different techniques but at the end of the day its what people are prepared to pay.


----------



## toc_bat (19 December 2006)

ah stuff it, im moving to another country in two days time, will need to find a home, job, just cant afford to sell my meager holding in INl - which i think has reached a level of stability that i consider it almost a bank - if BMN soars then all you guys ill be thinking of when i think nice thoughts, if it drops well i just cant afford the risk. i guess if its a legendary ann and the sp will be $50 in 2 yrs time then ive still got some time to get on the boat and make my usual 7,5%.


----------



## simplesimon (19 December 2006)

just a proud owner of a few more bmn shares


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## mmmmining (20 December 2006)

It is quite today. Everyone is holding breath? 

Anyway, here is a document may be good for Christmas reading if you want to have a overall picture of uranium in Namibia:

http://www.mme.gov.na/gsn/pdf/uranium.pdf


----------



## Louieh (20 December 2006)

and we have broken the $2 dollar barrier!

$2.04 3.32pm


----------



## LifeisShort (20 December 2006)

This has run hard really quickly. Dangerous when it does that.....still holding though


----------



## Caliente (20 December 2006)

Man. What a week this is shaping out to be!

I only hope the results are up to market expectations or beyond given the nature of the run.

edit- I hold


----------



## Rafa (20 December 2006)

Caliente said:
			
		

> I only hope the results are up to market expectations or beyond given the nature of the run.




Exactly, thats why i hate these mega runs like this...


----------



## chris1983 (20 December 2006)

Rafa said:
			
		

> Exactly, thats why i hate these mega runs like this...





Better to have a hard run than no run at all.  You have to be confident on good results given historic drilling though guys.  This one has been the next Paladin all along..everyone worried when its going to pull back or stop..it aint gunna stop


----------



## empireMG (21 December 2006)

if you hold BMN dont sell out now, this is a chance to drive the price into the $2.00- $2.50 area as a new base, then with an announcement!!!  

Profit taking will just slow down the steamtrain, hang in there my sell price today is 2.65 (just in case someone buy 100+ share at market, then ill be straight back in..

This is my opinon only, newbie having fun


----------



## MalteseBull (21 December 2006)

why is it down at the moment?

and what ann?


----------



## chris1983 (21 December 2006)

Profit takers.  It had to pull back a bit sooner or later.  Have to wait for the results to see another run.


----------



## chris1983 (21 December 2006)

Do you guys think some insiders know the results?  This is crazy.  They hit a low of 1.94.  Or maybe some huge buyers have come in..hmm

This feels so good.


----------



## aobed (21 December 2006)

Etrade has a status of PRE_NR for BMN?  Does that mean Pre-News Release?


----------



## Rafa (21 December 2006)

this feels terrible...  
why didn't i double dip at 1.40!!!


----------



## chris1983 (21 December 2006)

aobed said:
			
		

> Etrade has a status of PRE_NR for BMN?  Does that mean Pre-News Release?




Trading has stopped atm?  Is it in a halt?  There is no news


----------



## chris1983 (21 December 2006)

Wow great news.  Historic drilling confirmed   Looks good guys.


----------



## aobed (21 December 2006)

chris1983 said:
			
		

> Wow great news.  Historic drilling confirmed   Looks good guys.




I was just about to say the same thing


----------



## LifeisShort (21 December 2006)

Results are out and they seem very good!!!


----------



## aobed (21 December 2006)

I'm presuming we will be in a trading halt?  Strange that there is no release suggesting that?


----------



## chris1983 (21 December 2006)

There is no reason to sell these now.  They will build up a resource..and the price of uranium isnt going to slow down.  We will let the initial profit takers flow out and let the new blood come in.


----------



## Rafa (21 December 2006)

Certainly the results look good..

Ok, i just had to look at this chart again...
the last rise is infact not untoward at all...
its just following a repeatable pattern

i am feeling a lot more comfortable now...
(sorry for the poor quality)


----------



## powerkoala (21 December 2006)

well...
looks like market thinks the south way


----------



## chris1983 (21 December 2006)

powerkoala said:
			
		

> well...
> looks like market thinks the south way




Hey power.  This is a chance for you to actually get in.  Guys with large holdings are flogging them because they have got their profits and have the volume to flog them. 

The results are excellent and they have uranium at good depths.  This is a longterm hold now and it has been confirmed through these results.


----------



## chris1983 (21 December 2006)

Hey Kennes,

If you delete my posts by referring that a stock is going to follow in the foot steps of another such as Paladin..I expect you to be sharp on posters such as Jemma etc.

Maybe you should of followed my advice from the start of the thread.


----------



## Sean K (21 December 2006)

Is there any concern that these results are just with the spectrometer and not essay? Also, while some intervals are quite large the eppms are mostly 200-350 eppm. Not really that 'historic' to me, but of course maybe economical depending on the overall size of the deposit, and distance from surface..Food for thought. Any other opinions/ideas?


----------



## britishcarfreak (21 December 2006)

Hi,  I'm new blood for you - seemed like a great time to get in on the profit taking move.


----------



## Rafa (21 December 2006)

well, i am a relative novice of reading charts, but from what i've posted above, this share could quite possibly fall back to the 1.80 mark in the next few weeks...

in terms of buying urgently, technically, the trend is still up, but i don't think there is any compelling reason to buy just yet.... i.e. it hasn't broken out of the trend lines.

fundametally tho, the announcement certainly provides a good indication of long term gain...


----------



## Sean K (21 December 2006)

chris1983 said:
			
		

> Hey Kennes,
> 
> If you delete my posts by referring that a stock is going to follow in the foot steps of another such as Paladin..I expect you to be sharp on posters such as Jemma etc.
> 
> Maybe you should of followed my advice from the start of the thread.



I wish I had have Chris. It's been a great pick. I hope it keeps going up for you. Good luck.


----------



## LifeisShort (21 December 2006)

The spectrometer readings look conservative when compared to Assay on the first hole which gives encouragement. The great thing is the at depth of 337m!!!! there are still spectrometer readings of 643 eppm. Great results as far as I'm concerned as it confirms depth extension and thats what ultimately this was about. If the next round of drilling is as successful as this then hello big boy.


----------



## Sean K (21 December 2006)

LifeisShort said:
			
		

> The spectrometer readings look conservative when compared to Assay on the first hole which gives encouragement. The great thing is the at depth of 337m!!!! there are still spectrometer readings of 643 eppm. Great results as far as I'm concerned as it confirms depth extension and thats what ultimately this was about. If the next round of drilling is as successful as this then hello big boy.



Depth is good, but will that mean more expense to get it out? Are they looking at open pit for this?

Estimated grades are similar to Rossing which is good. 

Overall it looks really good. The sp going down is the usual buy the rumour sell the fact stuff IMO. Might be a good buying opp.

Still have a while to wait for a JORC. Sounds like late next year.


----------



## Caliente (21 December 2006)

"The Rossing mine produces at a grade between 300 and 400 ppm"

Based on the drill results I am very happy with the state of Bannnerman, and am holding now till the next aggressive drill targeting in mid-Jan.

edit - this is a superb time to get in (looks like an easy 10% available here) just by buying into this profit taking action.


----------



## Rafa (21 December 2006)

Rafa said:
			
		

> However, if your just after share price target, well, thats anyones guess...
> the annoucement can be great and the share price could half...
> 
> the market will price the share however the hell it wants too.




toc_bat...
i hope now you realise why i said what i said...


----------



## Caliente (21 December 2006)

Caliente said:
			
		

> "The Rossing mine produces at a grade between 300 and 400 ppm"
> 
> Based on the drill results I am very happy with the state of Bannnerman, and am holding now till the next aggressive drill targeting in mid-Jan.
> 
> edit - this is a superb time to get in (looks like an easy 10% available here) just by buying into this profit taking action.



edit 2 - taking a bigger tumble than expected... hmmm. Perhaps missed something in the report.


----------



## chris1983 (21 December 2006)

Rafa said:
			
		

> toc_bat...
> i hope now you realise why i said what i said...




Very True Rafa.  Everything is fine with this though.  I mean...they have uranium..they have historic drilling..They have proven the resource is at great depths.  Profit takers have jumped in today..but I must say I dont think it will stay down at this level.  All the best to holders.


----------



## MalteseBull (21 December 2006)

as if people aren't taking the opportunity to buy it at these prices


----------



## LifeisShort (21 December 2006)

Might be a few days of consolidation. When you look at it the price was about $1.50 a week ago. Its been happening quite often recently were a stock has run on speculation and dropped after the announcement even though the announcement was extremely positive eg. Tianshan. Tis the nature of this beast. I can't wait for more results and drilling....should be some fun time next year


----------



## jj0007 (21 December 2006)

This is the news the long termers wanted. Confirmation that previous drill holes are legitimate. Still more assays to come, but this confirmation is a significant milestone IMHO.

If you are holding long term these dips don't mean much.

I'm more comfortable holding these today than I was yesterday.


----------



## LifeisShort (21 December 2006)

completely agree. Confirmed and then some....nice Xmas present thats for sure.


----------



## MattThomson (21 December 2006)

I'm still holding, and am pleased with these results


----------



## LifeisShort (21 December 2006)

mmmmining said:
			
		

> It is quite today. Everyone is holding breath?
> 
> Anyway, here is a document may be good for Christmas reading if you want to have a overall picture of uranium in Namibia:
> 
> http://www.mme.gov.na/gsn/pdf/uranium.pdf




mmmmining, can you tell me where you found this on? Do you know when this was published?


----------



## mmmmining (21 December 2006)

LifeisShort said:
			
		

> mmmmining, can you tell me where you found this on? Do you know when this was published?




You are kidding, right? The link pointed out to Namibia's government Mineral Ministry. I don't know the published date. But from the references mentioned, it is after 1990. 

Not much difference between then and now because there are not much explorations done.

I like it because it gives me a treasure hunt map in Namibia. But takes time to read.


----------



## markrmau (21 December 2006)

Dont forget, these <500ppm might SOUND like low grades, but there is a formula where you multiply depth by grade to work out w profitable resourse. I cant remember details, but this is definately an economic resourse.

Having said that, I lightened my BMN holdings, hoping to pick up again at $1.3

DYOR however.


----------



## LifeisShort (21 December 2006)

If you refer back to a certain research note it gives a tagret price of $1.60 based on historical data and assumptions (uranium price etc). Since then the price of uranium has doubled and depth extensions have been confirmed. The historical data has depth to 50 metres.....the latest announcement points to possible depth of at least 200 metres.....one can do easy maths. This is not to say the BMN should be four times then target price...its simply implied that BMN has a great future and a rerating could be possible in the new year once new informnation such as results come to light


----------



## Sean K (22 December 2006)

LifeisShort said:
			
		

> If you refer back to a certain research note it gives a tagret price of $1.60 based on *historical data* and assumptions (uranium price etc). Since then the price of uranium has doubled and depth extensions have been confirmed. The historical data has depth to 50 metres.....the latest announcement points to possible depth of at least 200 metres.....*one can do easy maths. * This is not to say the BMN should be four times then target price...its simply implied that BMN has a great future and a rerating could be possible in the new year once new informnation such as results come to light



LIS, where is this reseach note and historical data? Is it in any of BMNs reports? Is this a JORC resource estimate or just drilling results? If it's just drilling results then you can not predict how much uranium is in the ground and therefore a price target. Cheers, would love to see it.


----------



## chris1983 (22 December 2006)

kennas said:
			
		

> LIS, where is this reseach note and historical data? Is it in any of BMNs reports? Is this a JORC resource estimate or just drilling results? If it's just drilling results then you can not predict how much uranium is in the ground and therefore a price target. Cheers, would love to see it.




Kennes you really havnt read much through this thread have you?


----------



## Sean K (22 December 2006)

chris1983 said:
			
		

> Kennes you really havnt read much through this thread have you?



Can you help me out Chris and point me in the right direction. Cheers.


----------



## chris1983 (22 December 2006)

See my post on the 2nd of November. #215

Lets put the key points out below for people to see. This is from the latest Carmichael report. I’ll draw some comparisons with Paladin Resources.

*KEY POINTS
Uranium price has increased by 258% in just over two years
After 2010, uranium shortages are forecast to be acute
BMN have two advanced Namibian uranium tenements totalling 1,313km²
Goanikontes prospect has a 10 to 200Mt target at 0.02 to 0.05% U3O8
Swakop River tenement surround Langer Heinrich deposit on three sides
Three early-stage uranium tenements in Botswana totalling 2,308km²
Several projects may have JORC Inferred Resources within 12 months*


Paladins Resource

_Ore Reserve Estimate 32.2Mt of ore @ 0.07% 
(Measured & Indicated) (22,200t U3O8) 

Total Inferred Resource 40Mt of ore @ 0.06% 
(23,800t U3O8)_


Now what I find interesting is where they have the Goanikontes prospect alone at *10 to 200 Mt at 0.02 to 0.05% U308*. Lets say they have *100 Mt of Ore at a low grade of 0.03* to keep things conservative. If you work it out that is *30,000t U3O8*

No one really knows how much Ore they have..its all guess work..but from some of their images etc I think they have a lot which is why it was estimated up to a potential of a 200 Mt target

It looks extremely healthy when we havn’t counted in their Swakop river tenement (tenement smothering Langer Heinrich) and we also havnt counted in things such as the "Exposed ‘E-type” Alaskite about 3km north of Goanikontes Anomaly A (car for scale)" Which has an image in their last activities report(I have attached it below). Add their Botswana tenements into the mix as the icing on the cake and we have one healthy looking company. 

I have also posted an image from the drill core of their first drill. Description in the latest activities report is "Uranium oxides on fracture plane within GOADH0010, 134m depth."

They are still hitting very visible uranium at great depths! We still need more drills to happen but its a great start IMO.

----------------------------------------------------------------------

*Now based off recent results they have confirmed historical data.  They have confirmed it at great depths.  The spectrometer has one drill at 300 meters +*

They expect the awaiting assays to be higher than the spectrometer results.  So its a wait now.

_"The assay results of the first hole (GOA0011) are slightly higher than the spectrometer readings. The downhole gamma ray spectrometer reads are larger area than the core and does not record a nugget effect when surveying the hole. Greg Symonds, the principal of Greg Symonds Geophysical, has stated that the correlation between assays (ppm) and the
spectrometer readings (eppm) in GOA0011 are within expectations and that the spectrometer readings for GOA0010 and GOA0012 will be accurate, if slightly conservative, when compared with the assays."_

Now I dont think we can keep writing up detailed reasons as to why this may be the next Paladin on every post or why they will have a lot of uranium.  I have been posting reasons from the start of this very thread.  Its not like im jumping on the thread and saying "This is the next Paladin!!!"  Thats a ramp..and thats someone not giving any details as to why they have a lot of uranium.

Lifeisshort is in the same boat.  I dont see anything wrong with his post.


----------



## Sean K (22 December 2006)

chris1983 said:
			
		

> See my post on the 2nd of November. #215
> 
> Lets put the key points out below for people to see. This is from the latest Carmichael report. I’ll draw some comparisons with Paladin Resources.
> 
> ...



Thanks Chris, This is pretty similar to Hartleys report that gives the resourse estimate something between 10-200mt at 200-300g/tn. (not up to 0.05% that you've quoted)

Now, please don't get me wrong here, I'm not downramping this in the slightest. As you have noticed in a few of my posts way back in this thread, I have found this to be a great stock and good work, it's gone great. However, I'm trying to work out the true value of this, like every other stock, so please bear with me.

Now, back to the resourse estimate and 10-200 mt ore. I am just a little concerned with this as a basis for a price target of any kind. Theres a *190mt deviation * here! Hartleys go on to take a broad pluck at 50mt at 0.035% U308 for 38.6m/lbs, with BMNs share of this being 30.9 m/lbs. From this we might be able to start making some prospective sp judgements, but this is an absolute pluck! 

To get back to my original question to LIS, where does the $1.60 price target come from? That's all I'm after. 

Hartleys don't give a price target just a Speculative Buy. Did Charmichael slap $1.60 on it?


----------



## chris1983 (22 December 2006)

I hope you understand what I'm trying to say.  By what you are saying..on every post we make..if we say.."they have excellent depths" and if you "compare this with historic drilling data" then you want us to post the previous depths and historical data when we say this?  All the time?  Its been mentioned earlier in the thread.  Let new investors read back.  I could always post the following link at the end of my every message. With a note dyor(do your own research).

http://www.bannermanresources.com.au/news_reports.asp


----------



## chris1983 (22 December 2006)

kennas said:
			
		

> Hartleys don't give a price target just a Speculative Buy. Did Charmichael slap $1.60 on it?




Yes Carmichael did slap a price target of 1.60 on it.  If you want us to quote the document everytime we post..and where it is from..with the information cut out all nice and pretty for new investors its starting to get annoying to jump on and just post up your input.  Especially when you have added all that information earlier within the thread.  Yourself and others should read back on the earlier posts.  Thats just my opinion..being a moderator you have the power to disagree.


----------



## Sean K (22 December 2006)

chris1983 said:
			
		

> I hope you understand what I'm trying to say.  By what you are saying..on every post we make..if we say.."they have excellent depths" and if you "compare this with historic drilling data" then you want us to post the previous depths and historical data when we say this?  All the time?  Its been mentioned earlier in the thread.  Let new investors read back.  I could always post the following link at the end of my every message. With a note dyor(do your own research).
> 
> http://www.bannermanresources.com.au/news_reports.asp



Thanks for the link.

So, still not sure where the $1.60 price LIS has given, but:

Carmichael on 4 Jul 06 have a 12 month target of $3.00 on it .
Then on 25 Sep 06, they put a 6 mth target of $1.60.....(Hmmmm that's March 07 - target was $3.00 by July 07, and spot price has gone up?)
Fat Prophets say buy at $0.70 and hold at $1.20.
Hartleys say buy when it was $1.60.

From this we can see that three professional financial services companys have three very different views. One changes their view in 3 months taking about 40% off their initial price target.

My point is, finally, that if you give a price target, tell us why. That's all. If it's because there is a research report from someone then quote it. All I want to know is where the $1.60 came from. Please. Is it in the thread somewhere? 

On the chart, it's still obviously trending up, but gone a bit hard I reckon like all other U players. Maybe needs to consolidate a bit before heading off again. Maybe some support as indicated. Hope it just keeps gently climbing for you Chris.


----------



## chris1983 (22 December 2006)

kennas said:
			
		

> Thanks for the link.
> 
> So, still not sure where the $1.60 price LIS has given, but:
> 
> ...





No you got it mixed up.  The march 07 target was a pre share split target which has been well surpassed.

The latest report by carmichael has a revised target of 1.60 which was given after the share split.  The reports were all given at different times.  Of course they are going to have different targets.  If you research..you will find it in the thread.  Like I said.  I dont see why we need to keep repeating our posts.

I must also add that in the fat prophets report they say

_"Bannerman has been a strong performer during the past three months. Since breaking above resistance at 40 cents in August, the stock has risen 275%, posting an all-time high of $1.50 last week. In the near term, we believe downside risks for Bannerman are limited. Initial support lies between $1.28 and $1.25 with the October low of 97 cents underpinning the shares, in our opinion.

With a robust upward trend and ongoing investor support, we believe Bannerman will extend the upward trend to levels beyond $1.50 in the weeks ahead. Accordingly, Bannerman will remain held in the Fat Prophets Mining and Resources Portfolio."_

This is the report that recommends to *"hold"* released on the 08/07/2006.  Now to me they all generally have the same idea on where this is heading.  I dont think they have 3 very different views at all.


----------



## Sean K (22 December 2006)

chris1983 said:
			
		

> No you got it mixed up.  The march 07 target was a pre share split target which has been well surpassed.
> 
> The latest report by carmichael has a revised target of 1.60 which was given after the share split.  The reports were all given at different times.  Of course they are going to have different targets.  If you research..you will find it in the thread.  Like I said.  I dont see why we need to keep repeating our posts.
> 
> ...




Yep, sorry got the dates wrong for the share split. That of course has a significant effect of the sp target, hence why they came out with the additional report so close. 

So, what LIS was referring to was the Carmichael report putting a $1.60 Mar 07 price target on this and since then the spot price has gone up from about $55 to $72. So that should account for BMN racing to over $2.00 for a bit before pulling back.  

Thanks for putting the time into clarrifying this Chris.


----------



## chris1983 (22 December 2006)

Thats okay Kennas.  I guess I was a little annoyed.  Maybe I wroke up on the wrong side of the bed I dont know.  I'll watch myself carefully today because Im seeing the misses and I dont wanna piss her off haha.

Let me say..if they retrace heavily..keep a very close eye on them.  I remember when AGS retraced and it didnt deserve to fall back to where it did.  Look where they are now.  Based off all the information we can go by Bannerman is shaping up niceley.  This is all just from the Goanikontes prospect.  What about the swakop river prospect with the elpse channel.

Also add this into the picture.  im sure you have heard of ACB (Acap resources).  If you havnt I advise you look into them because they are another I'm interested in.  Its hard to have them all though.  Anyway Bannerman also have tenements straddling ACB's current deposit.

_"Serule Project

The Serule South Prospecting Licence (133/2005) is located immediately north of the Mokobaesi No.1 uranium deposit. Mineralisation is expected to mirror that of the Mokobaesi deposit which consists of encrustations of secondary yellow uranium ochre in calcrete and in the underlying Ecca siltstones."_

Information above is taken from their website.


----------



## LifeisShort (22 December 2006)

Thanks Kennas and Chris, sorry I wasn't around this morning to join in the banter but I see all has been resolved peacefully. I think the last 10 posts have given enough info to everyone to keep them going over christmas. I think its consolidation time before more results get released. And yes Chris ACB is one of my other stocks that I'm keeping a close eye on. Did you see the research note on ACB from eResearch?


----------



## chris1983 (22 December 2006)

LifeisShort said:
			
		

> Thanks Kennas and Chris, sorry I wasn't around this morning to join in the banter but I see all has been resolved peacefully. I think the last 10 posts have given enough info to everyone to keep them going over christmas. I think its consolidation time before more results get released. And yes Chris ACB is one of my other stocks that I'm keeping a close eye on. Did you see the research note on ACB from eResearch?




Morning LIS,

No I havnt seen that site..I'll have to check it out.  Thanks. I pm'd you

In regards to the sp consolidating..I think so too.  I think BMN will continue to get further media coverage though so maybe consolidation wont be on the cards for too long.


----------



## chris1983 (25 December 2006)

kennas said:
			
		

> Thanks Chris, This is pretty similar to Hartleys report that gives the resourse estimate something between 10-200mt at 200-300g/tn. (not up to 0.05% that you've quoted)




Hey Kennas,

Just wanted to let you know that what I quoted was from the very first research report done by Carmichael..it wasnt made up.  Would of posted this ages ago but forgot too. See link below.

http://www.bannermanresources.com.au/docs/Carmichael04Jul2006.pdf

"Goanikontes prospect has a 10 to 200Mt target at 0.02 to 0.05% U3O8"


----------



## chris1983 (25 December 2006)

Anyway..I think we can take one of my summaries made earlier in the forum a bit further now that we have some results.  I have posted this on other forum sites and I thought I should also post it here since I have always blabbered on this thread for some time now.

Heres a run down for everyone.

The recent drilling results show that the deposit will be very deep and from the surface. No other explorers have reported that have they?? Uranium is being hit at 300+ meters depths and from the surface. All we need now is for it to be over a decent strike and we have got the stock of 2006 and 2007. 

One thing. Results are only based off Goanikontes and I think thats all we are going to need to see the price rocket. I hope they hit uranium in the elpse channel..o baby..whats going to happen then.

Also take note of this. Taken from the last activities report.

_“There are a variety of alaskite types identifiable in the region in the high strain zones associated with granitic domal features. The alaskites are classed as ‘A’ to ‘F’ types with classes ‘D’ and ‘E’ recognised as being the host to significant uranium mineralisation in the district. These are easily recognisable in the field and in the core.”_

They are going to have a lot of ore in their EPL’s containing uranium. ATM they are only reporting on the Goanikontes deposit.

_“The reprocessed data outlined the Goanikontes dome contact as anomalous for a continuous strike length in excess of 22 kilometres. Significantly, the East Anomaly has the highest radiometric reading of all the anomalies in the licence and remains untested. Also, the dome nose displays continuous anomalism despite the area being under surficial cover, a condition that tends to mask uranium mineralisation. Mineralisation extends north of the Swakop River with all current exploration concentrating south of the river.”_

_“Significantly in the northern portion of the licence, the Rossingberg 11 Anomaly (R11), has been shown to extend for a total of 15 kilometres, a substantially greater extent than previously thought. The anomaly is associated with the domal contact of the Rossingberg dome and appears to extend into a faulted structure along a stratigraphic contact, a style of mineralisation not previously considered.”_

Guys..in excess of 22km is the strike length of Goanikontes alone. Assume a width of what 50 meters even.  Remember I'm not even going to take into account the Rossingberg 11 Anomoly that I have just quoted above.

*Summary: 22000m strike x 50m width x 100m depth = 110,000,000 tonnes*

Lets say they have an average grade at 0.03. It equates to 33,000 t of uranium..not bad when you compare it to Paladins resource. Paladin also with a market cap close to 4 billion..it just shows where Bannerman can take the company.

*Paladins Resource

Ore Reserve Estimate 32.2Mt of ore @ 0.07% (Measured & Indicated) (22,200t U3O8) 

Total Inferred Resource 40Mt of ore @ 0.06% (23,800t U3O8) *

The inground value will be 72752546 pounds multiplied by the spot price of 72. This equates to in excess of *5.2 billion dollars inground value* off current prices and they believe this will continue to increase which Bannerman will have an 80% interest in. Don’t forget this is all pretty conservative. You can pretty much lock these uranium prices in because there is going to be no slow down in demand for uranium. Talk about the best long term investment you possibly could find IMO.

Then dont forget this. They are in Botswana. All their EPL's are next to land that contains deposits. sometimes great stories happen with companies. I think thats happening with Bannerman.

_"Botswana - Serule Project

The Serule South Prospecting Licence (133/2005) is located immediately north of the Mokobaesi No.1 uranium deposit. Mineralisation is expected to mirror that of the Mokobaesi deposit which consists of encrustations of secondary yellow uranium ochre in calcrete and in the underlying Ecca siltstones."_

The Mokobaesi deposit is currently being drilled by ACAP Resources for those of you who are interested.

Currently from the attachment you can see they have received assay results for one hole and spectrometer results for 3 of the holes. There are still two holes on which we are awaiting the spectrometer and assays. We are also awaiting the assays for the 2 holes that only have the reported results for the spectrometer readings.

They allready said the spectrometer results are conservative in regards to the assays so expect a message after christmas with hole GOA0012 reporting about 700+ ppm at 340 meters depth. I wonder what they will title the announcement "Excellent results continue at Goanikontes" haha then people will just start jumping on board. Its funny because we allready know they are going to report that in their next announcement. Unless the sp has allready factored in good results.

Should be interesting. I just hope the two existing holes they havnt reported on are also good.

All the best,

Chris


----------



## mmmmining (25 December 2006)

chris1983 said:
			
		

> A
> 
> *Summary: 22000m strike x 50m width x 100m depth = 110,000,000 tonnes*
> 
> Chris



Should it be 111,000,000 cubic metres? The density is about 2.8tonnes per cubic metres, right?

By the way, I always don't know what they are talking about the ore grade, sometimes they use ppm, sometimes they use %. I think 500ppm is not equal to 0.05%, right?

Merry Christmas, and happy New Year!


----------



## chris1983 (25 December 2006)

mmmmining said:
			
		

> Should it be 111,000,000 cubic metres? The density is about 2.8tonnes per cubic metres, right?
> 
> By the way, I always don't know what they are talking about the ore grade, sometimes they use ppm, sometimes they use %. I think 500ppm is not equal to 0.05%, right?
> 
> Merry Christmas, and happy New Year!




Your definately right.  I missed that.  Even better then.  I'm looking around also and Can't find anything exact..I saw that it say's 2.4 tonnes per cubic meter etc etc when searching around google..Im off to a christmas doo now but yeah even off 2.4 tonnes per cubic meter that is 

264,000,000 tonnes.  So its amazing.  But hey this is all talk.  They have a lot of Ore.  Lets hope its all containing uranium.  But one of their drills hit it at 300+ meters and the other at 100+ meters.  Should be interesting to see the following the results.  Have a good christmas.

500ppm is equal is 0.05.

seeya!!


----------



## mmmmining (26 December 2006)

chris1983 said:
			
		

> 500ppm is equal is 0.05.




My almost forgotten chemistry knowledge tells me that they are only equal if the referred material have the same relative density. I believe anything to do with uranium should be heavier, so I believe 500ppm of U3O8 is better than 0.05% of uranium by weight. 

Help, anyone knows the answer?


----------



## chris1983 (27 December 2006)

mmmmining said:
			
		

> My almost forgotten chemistry knowledge tells me that they are only equal if the referred material have the same relative density. I believe anything to do with uranium should be heavier, so I believe 500ppm of U3O8 is better than 0.05% of uranium by weight.
> 
> Help, anyone knows the answer?




eh?  What are we talking about?  Keep it simple for the readers.  0.1% = 1000ppm meaning 0.05% = 500ppm.  You can go into all this density knowledge but i'll keep things simple like Fat prophets, Carmichael and Hartleys etc etc all do.


----------



## drmb (27 December 2006)

mmmmining said:
			
		

> My almost forgotten chemistry knowledge tells me that they are only equal if the referred material have the same relative density. I believe anything to do with uranium should be heavier, so I believe 500ppm of U3O8 is better than 0.05% of uranium by weight.
> 
> Help, anyone knows the answer?




It's only liquids that are measured as volume per weight (w/v), or volume in volume (v/v) that you have to bring in density, and if you bring in density you have to worry about temperature!

For solids 500 ppm = 500 milligram per kilogram = 0.05% weight/weight (or 0.05%w/w). If you are talking solids you assume it is w/w so it is left out.


----------



## MalteseBull (27 December 2006)

under $2 is a good buy


----------



## Sean K (27 December 2006)

chris1983 said:
			
		

> 0.1% = 1000ppm meaning 0.05% = 500ppm.



Yeah, this is my understanding of it. Thanks for the great summary above Chris. BMN up another 5%ish this morning. Incredible. Perhaps you will be able to say that this is abetter than Paladan is, or ever was, one day but it is stall extralopation and estimation at the moment. It will be extremely interesting once they get a JORC out. Hopefully the grades are closer to 500ppm to give it a better quality resourse. Still anything about 300 will be good for something potentiall this size. I've decided to buy a few, even though it could be toppy, I've been thinking it was for the past 6 months.....

That bounce off $1.75 was encouraging, and shouldn't see much downside from $1.50, if it's ever back there during a correction. Maybe. Still needs continued good results to be coming through.....


----------



## chris1983 (27 December 2006)

Hey Kennas,

Not at the cricket today mate?  Atleast you got to see Warne bag 5 wickets.  Glad your onboard.  

Well when you look at the possibilities..it could be amazing.  I'm pretty hopeful it will be amazing.  Even when you look at the historic drilling they have it mapped over a large area and is open at depth between the two zones.

They have confirmed its at depth with the recent drilling. 340+ meters  and 100+ meters with the spectrometer.. yet they havn't received the assays for the same holes.  Lets hope the 2 holes they havn't reported on are good because it will go off then.  We allready know that the assays for the 2 holes with the existing spectrometer results will be good..I guess this will give it more exposure to new investors when they release that message even though we allready know its going to happen.

Maybe profit takers will jump out on that message or new investors may see it and start jumping on board..one thing we do know is that a lot of profit takers rode the first announcement.  So hopefully most of them are out and we are now going to get the next leg up.


----------



## LifeisShort (27 December 2006)

All this potential is purely based on Goannikontes.....I believe the analysts did not attribute any potential figures to Swakop River or any other potential discovery. Even if the Swakop River results are terrible and they could be.....this shouldn't put BMN in any negative light as these were classified as a bonus in the first instance.


----------



## Sean K (27 December 2006)

chris1983 said:
			
		

> Hey Kennas,
> 
> Not at the cricket today mate?  Atleast you got to see Warne bag 5 wickets.  Glad your onboard.



I saw most of Warnies wickets from the bar........ :bier: 

Going back in in a few minutes.....looks like I might be seeing England bat again at this rate.   

Wish I have bought these a while ago, but glad I've seen the light now.   I think we've analysed this one to death the past week. Anything else we're missing? Just read through the last Fat Prophets report again, and they are incredibly bullish on it. That's not really usual for them and they are a little conservative, expecially with uranium companies.


----------



## chris1983 (27 December 2006)

LifeisShort said:
			
		

> All this potential is purely based on Goannikontes.....I believe the analysts did not attribute any potential figures to Swakop River or any other potential discovery. Even if the Swakop River results are terrible and they could be.....this shouldn't put BMN in any negative light as these were classified as a bonus in the first instance.




LIS your definately right.  Success straight away in swakop river would be great but they were only doing aircore drilling there to determine the extent of potential paleaochannels.  Goanikontes is the first and most important prospect atm.

They also have an epl just north of ACAP resources Mokobaesi No.1 uranium deposit in Botswana but they aren't even concentrating on that just yet.  Everything is looking great.


----------



## LifeisShort (27 December 2006)

I have a feeling that Swakop results will be a downer as looking at PDN and Langer Heinrych they have a very narrow concentrated channel system with their deposit.....the ground that BMN is exploring at the moment is more expansive which usually equals to lesser concentration of deposits of uranium. There probably is uranium there but most likely might not equal to commercial grades etc. It should be interesting to see what they find though as it could lead them to other potential areas/targets on their tenements. I hope they surprise us with Swakop but I have attributed no value to it whatsoever.


----------



## chris1983 (27 December 2006)

kennas said:
			
		

> I saw most of Warnies wickets from the bar........ :bier:
> 
> Going back in in a few minutes.....looks like I might be seeing England bat again at this rate.
> 
> Wish I have bought these a while ago, but glad I've seen the light now.   I think we've analysed this one to death the past week. Anything else we're missing? Just read through the last Fat Prophets report again, and they are incredibly bullish on it. That's not really usual for them and they are a little conservative, expecially with uranium companies.




Hey Kennas,

Things arent looking to good just yet in the cricket.  We still have Gilli so we are safe! hah  

Only thing that could cause a negative spin is a capital raising.  They won't need to release many shares at the current price though.  I'm pretty sure they would raise it through sophisticated investors if they even need to.  Below is a section quoted from the recent announcement.

"Aggressive drilling programme to commence mid January 2007 –rigs booked, approvals granted"

So it will cost money..but how much do they need for their aggressive campaign.  They have the oppies expiring in May 2007 though so that should bring them about 2.4 million and as of sept 06 they still had 2.2 million in the bank.  Maybe they have more than enough money to keep going.


----------



## LifeisShort (27 December 2006)

Those oppies will fund their exploration (as all are in the money) and drilling in 2007. I don't believe they will try and raise any more cash anytime soon. Would be interesting to go over their cashflow in the quarterly thats coming next year to see how they are faring.


----------



## Rafa (27 December 2006)

welcome on board kennas...
good to see chris has finally talked some sense in ya...     
i bought some more at 1.80.... (after procrastinating for ages at 1.40ish..)

Funnily enough, my other darling... MTN has actually outperformered BMN in the last few months....!


----------



## chris1983 (27 December 2006)

Rafa said:
			
		

> Funnily enough, my other darling... MTN has actually outperformered BMN in the last few months....!




Wow..just looked at MTN.  Nice.  My other uranium hopeful ERN is dragging atm.  Hopefully it comes good.  I think Kennas made a good move..who am I to say he made the right move though.  I have a friend and I have been saying Bannerman seem really good pre share split at $1.  He keeps wondering if he should buy them..and every time they go up he regrets it.  Just the other day he asked me if he should get them at 1.90.  Yet he still hasnt got them..even when they pulled back to under 1.80..I ask him if he got some and he say's no with a smile on his face..as if they are going to head down with the recent pull back.  I wonder what he's thinking now.

I really dont think this one will head down..the longer things go on..the more its going to push up.  The resource is there.  the aim of the game is to make money..Bannerman has been kind to us.  Lets hope things continue.  I know you all think just like myself that the uptrend will continue for some time yet.


----------



## MalteseBull (28 December 2006)

buy now while its cheap,
sell later after Jan 15th

read anns and dyor


----------



## chris1983 (28 December 2006)

Going nicely.  It was up 17 cents yesterday or 9.39% from a measly volume of 450,905.  It just shows that its not easy to get these.  Most investors are holding onto their stock.


----------



## MalteseBull (28 December 2006)

next PDN maybe????


----------



## chris1983 (28 December 2006)

MalteseBull said:
			
		

> next PDN maybe????




Whos knows 

The more PDN goes up though the more I think to myself there will be no chance of me selling Bannerman just yet.


----------



## simplesimon (28 December 2006)

I am not selling mine for a while either. Just waiting for the next results   
Then everything should start picking up from there.


----------



## LifeisShort (28 December 2006)

I'm not selling until they reach market cap of $4 billion like Paladin. Don't want to miss out. Chances are it will never reach that but I like to dream. I'm looking forward to 2007 with more drilling and perhaps a JORC resource of some substance. That should get the vultures circling like Paladin and Rio....


----------



## chris1983 (28 December 2006)

LifeisShort said:
			
		

> I'm not selling until they reach market cap of $4 billion like Paladin. Don't want to miss out. Chances are it will never reach that but I like to dream. I'm looking forward to 2007 with more drilling and perhaps a JORC resource of some substance. That should get the vultures circling like Paladin and Rio....




LIS..chances are very likely IMO.  After all the hard research..dont you think they could sure up a resource larger than Paladins?  Dont just think Paladin will be the only uranium success in the ASX.


----------



## simplesimon (28 December 2006)

quite possible. I hope it happens I will be one happpppppy man. I guess the wife will love me more to.


----------



## LifeisShort (28 December 2006)

chris1983 said:
			
		

> LIS..chances are very likely IMO.  After all the hard research..dont you think they could sure up a resource larger than Paladins?  Dont just think Paladin will be the only uranium success in the ASX.




I think that other companies won't let Bannerman get too big before they pick it off. There are a lot of aggressive Canadian uranium miners who might one day pick it off, its already happening with other juniors who don't seem to have the same potential as BMN. I think the next trigger will be JORC estimates after the drilling is complete. Promising uranium resource companies who are in a mining friendly environment are hard to find hence BMN doing so well.


----------



## chris1983 (29 December 2006)

kennas said:
			
		

> I've decided to buy a few, even though it could be toppy, I've been thinking it was for the past 6 months.....
> 
> That bounce off $1.75 was encouraging, and shouldn't see much downside from $1.50, if it's ever back there during a correction. Maybe. Still needs continued good results to be coming through.....




Good timing Kennas.


----------



## toc_bat (29 December 2006)

kennas 

at what price did u get some?

if u dont mind, its not that im jealous or anything just wanna wee insight into your trading methodology,

cya

happy new year for all


----------



## Halba (29 December 2006)

BMN is in namibia. unlike the other australian hopefuls which have no chance of getting to proddy quick, bmn will be able to. From JORC to mine it is 2 yrs. so 2009/10 is a realistic stretch target

Disclosure: topped up again today


----------



## chris1983 (30 December 2006)

Halba said:
			
		

> BMN is in namibia. unlike the other australian hopefuls which have no chance of getting to proddy quick, bmn will be able to. From JORC to mine it is 2 yrs. so 2009/10 is a realistic stretch target
> 
> Disclosure: topped up again today




Good work Halba.  Results will be after the new year.  I think it will be a good present to us all.  In all honesty..I think Bannerman will be huge in 2007.  I'm not saying that because I'm holding..but if any of you can point out another uranium explorer hitting uranium at 300m+ depth please pm me and let me know.


----------



## Halba (31 December 2006)

yup the only one hitting 300m was Rio tinto's rossing (also in namibia) but a lot deeper than BMN


----------



## chris1983 (31 December 2006)

Bannerman was in the Sunday Times under the Business "Hot Stocks" section

Ian Parker from Hartleys has put a speculative buy on the stock.  They will all start to follow soon enough.  Even tough it had an amazing run in 2006 they think its going to keep on running.  So do I


----------



## Sean K (1 January 2007)

toc_bat said:
			
		

> kennas
> 
> at what price did u get some?
> 
> ...



Bought in at $1.90. As far as reason for the buy I had a pretty good look through their website and read all the reports on them by brokers and their past few anns and thought there was some upside to go. Chart wise I liked that it had bouced off $1.75 pretty smartly and looked like it had some momentum. I like where their key tennaments are and think this could work into being a miner in the next few years, not just explorer. (obviously there's some work to do in getting anything up and running, like a confirmed resource!) I like just about anything uranium at the moment and see some more consolidation on the horizon. I'd be surprised if many of these juniors with great assets will be left standing in the next 2 years. I highly recommend you visit their website and have a read on them before making your own decision. 

www.bannermanresources.com.au


----------



## Louieh (2 January 2007)

looking like another great day for bmn..

kennas, good timing at $1.90 i think

9 % up at $2.30


----------



## Caliente (2 January 2007)

U gotta love how smoothly the Bannerman train rolls!

Just watching it on the eSignal tick charts compared to some of the other whipsawing U plays right now - its tranquility compared to some of the action this morning!


----------



## LifeisShort (2 January 2007)

Are people piling because they consider this the next Paladin in the making? They missed the last gravy train perhaps they don't want to miss another.


----------



## britishcarfreak (2 January 2007)

Looks like it doesn't it!  I'm going to kick myself but I'm holding off for a bit.


----------



## chris1983 (2 January 2007)

I wouldnt hold off for too long.  Thats just my opinion


----------



## MalteseBull (2 January 2007)

not to say BMN is a bad stock or anything, but I sold out today 2.31, 

i think it will keep going up personally but made profits and sold out and going to switch to another junior which has future potential like DYL or even TOE


----------



## chris1983 (2 January 2007)

MalteseBull said:
			
		

> not to say BMN is a bad stock or anything, but I sold out today 2.31,
> 
> i think it will keep going up personally but made profits and sold out and going to switch to another junior which has future potential like DYL or even TOE




I just want you to look at one think.  The market cap of DYL.  Plus consider the amount of news shares coming onto the market.  DYL's market cap is huge compared to Bannermans.  Not bagging DYL..but the future potential of Bannerman is still very much there.


----------



## chris1983 (2 January 2007)

"look at one thing." is what I was trying to say

blah I should really read over my posts


----------



## Halba (2 January 2007)

who would sell this. still trading at 1/2 the value of the other stocks. still under valued


----------



## nizar (2 January 2007)

Halba said:
			
		

> who would sell this. still trading at 1/2 the value of the other stocks. still under valued




Agree.
In fact, who would sell if they think:


			
				MalteseBull said:
			
		

> it will keep going up personally




I personally sell when i think a stock will go down.

Each to his/her own.


----------



## chris1983 (2 January 2007)

I sold some 80 cents pre share split to free carry the rest at that price.  Then I sold some post share split at 1.48.  I guess a profit is a profit but I'm definately free carrying what I have left now..especially after some of the drilling results were revealed..I was just simply covering my initial investment earlier.  Still some room left with this one.  All the brokers are picking them only now.  Lets wait for the rest of those assay results to see how things unfold.


----------



## LifeisShort (2 January 2007)

Got them at 25c haven't sold a single share and trying to ride to the moon....I'm flogging this one till the end. When is the end? Either a takeover...uranium market dies....they find nothing from here on in...Chances of the last two are minimal.


----------



## chris1983 (4 January 2007)

Getting smacked this morning.  A few sellers come in and start a avalanche..gets the momentum running.  Probably a few punters who have gone in and don't know what the company is all about are running scared.


----------



## Rafa (4 January 2007)

needs to hold above 2.10 to maintain the new, steeper uptrend line that started a couple of weeks back.


----------



## Sean K (4 January 2007)

Rafa said:
			
		

> needs to hold above 2.10 to maintain the new, steeper uptrend line that started a couple of weeks back.



Would have been very difficult to maintain that trajectory for much longer. Was a great run. As always happens stocks zig zag their way to new highs or lows. This is still generally heading up, but will have a few trips on the way. It may have started a new trend line, but the one in place from August might still prove to be the general direction of the stock. All the indicators were saying overbought, as most U stocks would have recently. Those who have bought for the fundamental reasons need to keep that in mind. Nothing has changed. Uranium spot is still at $72, and will probably keep climbing. Demand is going to outstrip supply, blah blah. This is just a general market reaction. Those that bought for a quick trade probably should have sold.


----------



## Rafa (4 January 2007)

Damn...
Why can't my steeper trendline hold     
i'm barracking for it...

Yes, accurate summary of the situation kennas...


----------



## Rafa (4 January 2007)

AARRRRRRGGGGGHHHHHHHH!!!!!!!


All the U stocks are bounding back...!!!

BMN's maintaining its steeper uptrend line...

What didn't i get more AGS this morning!!!


----------



## chris1983 (4 January 2007)

I like the steeper trendline to be honest 

I think it might hold that steeper trendline in the short term if we get the results soon for the remaining 4 holes.  The trend Kennas has given looks more the possibility though.  Who could complain with that upward trend anyway eh!


----------



## Sean K (4 January 2007)

Rafa said:
			
		

> Damn...
> Why can't my steeper trendline hold
> i'm barracking for it...



I'm barracking too Rafa. Go BMN! GO!!!   

I'm not sure if that will help right now though.   

Wondering what the next news piece will be for a bit of a push.

Still 4 drill holes from those sent to the lab. They should be back soon. Hopefully ppm's around 500. 
Drill program to commense mid Jan. That will be ann to keep focus on it.
U spot price might well rise again shortly......should be ok for sp.
Need general U phoria to continue too..


----------



## chris1983 (4 January 2007)

kennas said:
			
		

> Still 4 drill holes from those sent to the lab. They should be back soon. Hopefully ppm's around 500.
> Drill program to commense mid Jan. That will be ann to keep focus on it.
> U spot price might well rise again shortly......should be ok for sp.
> Need general U phoria to continue too..




Kennas we will definately get an assay result for hole GOA0012 at around 700ppm hit at 338 meters.  I personally think that will keep the U phoria running hard for Bannerman


----------



## simplesimon (4 January 2007)

All my stocks are down today but as you say this is just because people are getting nervous but with Bannerman as you say Chris I bought into this because I really like the ground they are on and their proximity to Rio Tinto and Paladins mine there is a lot of potential here in the near future I am in this one for the long haul when I can make the big bucks cause i feel they are virtually guaranteed unless of some nuclear disater or war which I cant see happening so all the best guys. Cant wait for the next drill results info things should pick up then


----------



## Absolutely (4 January 2007)

hmmmm.......maybe nuclear war could be good for the share price......?


----------



## chris1983 (9 January 2007)

Looking the goods guys.  Had the retrace that was needed.  Results are due very soon.  Well I think they are due soon unless they have had major holdups.  The charts looking great also.


----------



## LifeisShort (9 January 2007)

Is there a new research report from Fat Prophets thats has come out. I heard a rumour. Can anyone confirm or deny this?


----------



## aobed (9 January 2007)

chris1983 said:
			
		

> Looking the goods guys.  Had the retrace that was needed.  Results are due very soon.  Well I think they are due soon unless they have had major holdups.  The charts looking great also.




I agree Chris1983.. I'm really looking forward to seeing what the announcement brings.


----------



## toc_bat (9 January 2007)

why was it "needed"?

thx, (newbie)


----------



## chris1983 (9 January 2007)

toc_bat said:
			
		

> why was it "needed"?
> 
> thx, (newbie)




Kennas is good at all the chart stuff. Hes the best one to show you why a retrace didnt hurt the stock.  The new trend that was being created would of been extremely hard to hold.  It was going up very hard and fast.  They all say what goes up must come down.  The overall trend is continuing though..heading back up now.  With good results which we are expecting I think the trend will continue and who knows where it will go.  Remember we are expecting 700ppm at around 350 meters depth..oh yeah   What a great buying opportunity yesterday though at $2.  All those guys made a quick buck.


----------



## toc_bat (9 January 2007)

thanks chris


----------



## simplesimon (15 January 2007)

When are the drilling results due out? Must be very shortly.


----------



## mattyl2003 (15 January 2007)

I hope soon.

Still considering whether to stay aboard or not..


----------



## Caliente (17 January 2007)

interesting move this morning. a spike to 2.38, no ann. Wonder what happened there...


----------



## chris1983 (18 January 2007)

Getting closer and closer to that previous high of 2.46.

Had the retrace which makes the chart look healthy.  Has bounced back up and looking really good.


----------



## Caliente (18 January 2007)

Bannerman has just crossed into new territory gentlemen. We are at $2.47 

TOOT TOOT?


----------



## chris1983 (18 January 2007)

Well there we go. 2.47. Broken the previous high of 2.46.  I cant wait to see these results.


----------



## Rafa (18 January 2007)

its certainly getting back up there...
never closing below 2.10 in the last two weeks, really confirmed the strength of this stock...

Its fair to say the U's are on the march again.


----------



## Louieh (18 January 2007)

say hello 2.57!!  10.3% up! good news im hoping....


----------



## the barry (18 January 2007)

Anyone know the reason for the run, or what heights we might reach?


----------



## watsonc (18 January 2007)

Is there enough volume to warrant jumping in for a punt?


----------



## Caliente (18 January 2007)

A beautiful run. The Bannerman train just keeps on rolling.

edit - my personal opinion on the run is simply that it is the logical reaction to the correction bannerman "had to have", see Kennas analysis in previous posts.

Position: Hold (for mid-long term!)


----------



## mattyl2003 (18 January 2007)

I made a big blunder...

Baught in @ 2.36 2 weeks ago, then sold @ $2.13 thinking it was on its way down the other day..

now look at it.... NOT HAPPY JAN

Think ill have to buy back in again shortly....


----------



## empireMG (18 January 2007)

the barry said:
			
		

> Anyone know the reason for the run, or what heights we might reach?





Bannerman is due to post its report on the drilling results, which have always been tipped to be better than historic data. This report should be posted before the end of Jan, Ie next week. You might see Bannerman then been purchase by PDN or RIO..and prices in my opinion could then jump way up, even (this is only my gut feel) as high as $9.00+ so yes its still a good buy.


----------



## jj0007 (18 January 2007)

mattyl2003 said:
			
		

> I made a big blunder...
> 
> Baught in @ 2.36 2 weeks ago, then sold @ $2.13 thinking it was on its way down the other day..
> 
> ...





Mate I've been in this position previously with a number of stocks.  I'd do lots of research...pick the stock...and as soon as it moved 20%-30% up or down I'd dump it...only to watch it increase 10 fold.  I'd then kid myself thinking that I could compound my winnings and beat the "10 fold in 3 years scenario".      

I know better now.  Buy well and don't sell.

The key test is to ask yourself "If the fundamentals don't change and the SP goes back to $1.60, would you still hold?".   I would.


----------



## chris1983 (19 January 2007)

Looks like another pleasing day ahead.  I hope your all still holding.  This is still cheap if the resource is as big as they say it could be.


----------



## Rafa (19 January 2007)

what is going on here!!!

i don't like 10% a day gains, for the last 3 days!!!


----------



## chris1983 (19 January 2007)

Rafa said:
			
		

> what is going on here!!!
> 
> i don't like 10% a day gains, for the last 3 days!!!




haha why???  Its wonderful to watch.


----------



## toc_bat (19 January 2007)

it is even tho im not holding,

edit: cos ive run out of cash and have decided to stick to my plan (wot plan u have a plan? no one told me), but i advised my father to get these at the $1.30 level and he didnt, feel like at least i made a good decision for once


----------



## chris1983 (19 January 2007)

I think its pretty obvious the drilling results are going to be good.  I mean they atleast have 700ppm to report for one of their assay results at 350 meters depth.  We know this because we allready have the spectrometer readings and they say that the assays are always slightly stronger than the spectrometer.

The guys selling now are just taking a punt that the results wont be fantastic and will hopefully be looking for a re-entry if they retrace.  Im just going to hold strong.  The deposit is there..this has allready been a beauty but its going to go higher as they map out the resource.


----------



## Sean K (19 January 2007)

It's having an outstanding run. Parhaps in expectation of drilling results. However, the results will need to be perhaps better than expected for the run to continue when the results come out. If just in line, or lower, then it may come under a little pressure. Buy the rumour, sell the fact? I'm trying not to get too excited yet. Maybe when they actually prove up a resource and it looks like they might actually mine something. Of course, if I was short term trading this, I would be excited, and I would probably be thinking about taking profits.


----------



## chris1983 (19 January 2007)

Its a longterm hold.  They havn't even started on their botswana tenements which lay directly beneath acap resources mokabaesi deposit.  Their grounds are so good its not funny.


----------



## Wilson! (19 January 2007)

I grabbed a few, think it has a long way to go based on whats coming up in the announcements.


----------



## chris1983 (19 January 2007)

goodluck wilson.  My bro inlaw grabbed some a week or two back when they hit a high of 2.43 only to see them retrace back to $2.  I told him to hold firm because if you research hard enough this one still has a long way to go IMO.


----------



## Wilson! (19 January 2007)

Thats when stop loss plans come in, for better or worst i guess
Looks like is holding nicely


----------



## Simmo (19 January 2007)

Market cap is approaching 370 million fully diluted...

 

I thought they were overdone at 1.50 yet the market continues to buy.

Good luck to holders.


----------



## chris1983 (19 January 2007)

Wilson! said:
			
		

> Thats when stop loss plans come in, for better or worst i guess
> Looks like is holding nicely




I only do stoploss if I dont believe in the company.  Nothing bad was reported to see the share drop down to $2.  I think hard research and fundamentals is the way to go.  What would be your stops on BMN atm? 2.50?


----------



## Rafa (19 January 2007)

chris1983 said:
			
		

> I only do stoploss if I dont believe in the company.  Nothing bad was reported to see the share drop down to $2.  I think hard research and fundamentals is the way to go.  What would be your stops on BMN atm? 2.50?




Exactly... especially for these 'spec' stocks.
like the last time BMN crashed after the announcement from 2.25 to 1.80ish...
i bought up some more!

Conversely, for shares like ZFX, and other large caps, its all about the price action and TA.


----------



## mmmmining (19 January 2007)

chris1983 said:
			
		

> I only do stoploss if I dont believe in the company.  Nothing bad was reported to see the share drop down to $2.  I think hard research and fundamentals is the way to go.  What would be your stops on BMN atm? 2.50?



Totally agree. If you don't believe in the company, don't buy it.


----------



## LifeisShort (20 January 2007)

Here I go away for a week to the bush with no civilisation to speak of and here i come back to see BMN to go from 2.10 to 2.81. I should do this more often. Unbelieveable run in a week. It looks like a carbon copy scenario of the first results where a big run preceded an announcement before a sell down by speculators and a recovery.


----------



## kromey (20 January 2007)

Hi Chris1983     What are your thoughts on A-CAP since they are close to BMN?


----------



## chris1983 (20 January 2007)

LifeisShort said:
			
		

> Here I go away for a week to the bush with no civilisation to speak of and here i come back to see BMN to go from 2.10 to 2.81. I should do this more often. Unbelieveable run in a week. It looks like a carbon copy scenario of the first results where a big run preceded an announcement before a sell down by speculators and a recovery.





haha I just came back from my holiday in Sydney LIS.  I think we should both continue to take holidays.


----------



## chris1983 (20 January 2007)

kromey said:
			
		

> Hi Chris1983     What are your thoughts on A-CAP since they are close to BMN?




Ive wanted to buy acap for some time.  I have large holdings in BMN and ERN.  With me its all about having the funds..and all my money is tied up.  Im not disappointed though because everything is performing.  If ERN have a good run I'll sell half and push it into Acap resources or northwest resources.

Bannerman have great grounds in Botswana which I think a lot of investors are forgetting about...if you want exposure to Botswana acap look good..Bannerman have that exposure also though so I'm just going to hold my namibian based uranium explorers for now.  I really believe Bannerman are going to be a great up coming uranium company...they are on the path to being great arent they


----------



## chris1983 (22 January 2007)

Thought this is some nice news to share for the BMN holders on this forum.  Its from early January but no one has mentioned it.

"NAMIBIA-focused uranium explorer Bannerman Resources has taken out the title of Australia's best-performed resource stock of 2006, with a gain over the year of 2914.6%, just eclipsing the 2900% surge in controversial copper play CuDeco." 

Quoted from http://www.miningnews.net/storyview.asp?storyid=70974&sectionsource=s10

It is also up another 33% since the start of 2007.


----------



## Rafa (22 January 2007)

Now I am more worried that ever


----------



## chris1983 (22 January 2007)

Rafa said:
			
		

> Now I am more worried that ever




Im just waiting and waiting for this message to come...hopefully we get something today.


----------



## Broadside (22 January 2007)

it's only up 1% today I am going to have to sell this dog  :


----------



## kromey (22 January 2007)

BROADSIDE BMN a dog? Highest performing Australian resource stock up 2913% in 2006 correct chris1983?   ACB or ERN?


----------



## Broadside (22 January 2007)

kromey said:
			
		

> BROADSIDE BMN a dog? Highest performing Australian resource stock up 2913% in 2006 correct chris1983?   ACB or ERN?




I was talking tongue in cheek, I have been in since it was a dollar (35 cents post split) so it is an 8 bagger for me thus far and I couldn't be happier to hold....but may sell a few in a few months post the 12 month CGT relief


----------



## Sean K (22 January 2007)

Broadside said:
			
		

> I was talking tongue in cheek



LOL   I laughed mate.

But I'm also thinking that if a bad day for BMN is up 1% it's getting toppy, Even with the likelihood of positive results comming out. I'm taking some profits across the board at the moment (as I'm going backpacking in Mexico for 3ish weeks) and I chipped some off this this morning. This means it'll go to $5 while I'm away!


----------



## chris1983 (22 January 2007)

kennas said:
			
		

> LOL   I laughed mate.
> 
> But I'm also thinking that if a bad day for BMN is up 1% it's getting toppy, Even with the likelihood of positive results comming out. I'm taking some profits across the board at the moment (as I'm going backpacking in Mexico for 3ish weeks) and I chipped some off this this morning. This means it'll go to $5 while I'm away!




So just because its up 5 cents its getting toppy?  Kennas you didnt liked it when I said this could be the next Paladin but isnt it going that direction?  Im just wondering how you feel about it now that we have results and the sp is doing the exact same thing Paladin did but with less shares on issue.  Investors thinking its getting toppy..overpriced..etc etc etc might be in for a surprise a year down the track.  Its just going to keep on going thats my opinion.  I sold my others way too early but I'm glad I still hold a stack of them.  We may get hit with retraces and pullbacks etc etc but the trend is still powering.  Its actually holding that steeper trendline that started a month or so back.


----------



## Sean K (22 January 2007)

chris1983 said:
			
		

> So just because its up 5 cents its getting toppy?  Kennas you didnt liked it when I said this could be the next Paladin but isnt it going that direction?  Im just wondering how you feel about it now that we have results and the sp is doing the exact same thing Paladin did but with less shares on issue.  Investors thinking its getting toppy..overpriced..etc etc etc might be in for a surprise a year down the track.  Its just going to keep on going thats my opinion.  I sold my others way too early but I'm glad I still hold a stack of them.  We may get hit with retraces and pullbacks etc etc but the trend is still powering.  Its actually holding that steeper trendline that started a month or so back.



Hi Chris, the comment about being toppy was just in general, not becasue it's gone up 1%. It's the concept that this is a bad day because it hasn't gone up 5% that makes me worried. As you have pointed out many other stocks have just kept runing, I'm just a little more conservative than the average U punter, which means I won't make as much - or lose as much perhaps.  

I'm holding some uranium shares that I think are actually overpriced. I just think the market is willing to do that at the moment, but soon, it won't. The true valuations of all these companys will be determined by the market soon, and I think it will be lower than at current prices, that's all. I might be wrong too....PDN worth half of Qantas? Hhhmmm. We'll see. 

An interesting point I'll add here as it applies to all uranium explorers at the moment, is that is you apply PDNs market cap per lb of uranium to BHPs uranium inventory, then BHPs uranium is worth about $60b.....(source: Portfolio Partners quarterly review) Just puts it all in perspective to me.

Having said that, BMN might end up with more uranium that PDN or BHP for that matter....maybe.


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## GreatPig (22 January 2007)

kennas said:
			
		

> I'm taking some profits across the board at the moment



Always a dangerous move 

I did that a couple of weeks ago to reduce my exposure (sold about half), and of course some of the ones I sold have done nothing but skyrocket since I sold  (AQP for example is up more than 20% since I sold) 

GP


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## chris1983 (22 January 2007)

Kennas just dont sell too early.  Investors have seen the 2000% increase last year and keep thinking its getting overpriced.  Bannerman is in Namibia..has no restrictions and can sell the uranium to who ever they like.  Compared to the amount of uranium they "believe" they have there this stock could be huge.  $10 is not unlikely once everything is confirmed(drilled) if they prove what they believe they actually have.  This is not a ramp..its just going by what all the research reports have told us on how much uranium they believe Bannerman could have in the ground as compared to the amount of shares they have on issue.


----------



## empireMG (22 January 2007)

GreatPig said:
			
		

> Always a dangerous move
> 
> I did that a couple of weeks ago to reduce my exposure (sold about half), and of course some of the ones I sold have done nothing but skyrocket since I sold  (AQP for example is up more than 20% since I sold)
> 
> GP



My BMNstory is in at $1.03 rode it all the way to $2.00 then bailed out when it slid to $1.84, Im back in at $2.06 and topped up again today at $2.87!!! now i have an average price of $2.36...read above..do your homework, BMN should have an ASX annoucement due very soon, just before id expect the trading houses to jump in..and watch it fly then.

Only my opinion..let see how it reads in march!


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## nsitt (22 January 2007)

chris1983 said:
			
		

> Kennas just dont sell too early.  Investors have seen the 2000% increase last year and keep thinking its getting overpriced.  Bannerman is in Namibia..has no restrictions and can sell the uranium to who ever they like.  Compared to the amount of uranium they "believe" they have there this stock could be huge.  $10 is not unlikely once everything is confirmed(drilled) if they prove what they believe they actually have.  This is not a ramp..its just going by what all the research reports have told us on how much uranium they believe Bannerman could have in the ground as compared to the amount of shares they have on issue.




True, I see this baby as another PDN in the making. It has huge potential in Namibia. Would be interested in trying to find another up and comming prospect and am looking carefully at ERN.

My portfolio atm is almost 50:50 Materials & Energy stocks   might need to diversify a bit but my gosh these stocks just are so much fun to watch!


----------



## chris1983 (22 January 2007)

nsitt said:
			
		

> True, I see this baby as another PDN in the making. It has huge potential in Namibia. Would be interested in trying to find another up and comming prospect and am looking carefully at ERN.




Read the ERN thread.  I have been topping up and have a good holding in them.  If they get this fifth license they have something very similar to what Bannerman had at the earlier stages.  If they get the fifth license they will also have a historical resource on one of their epls just as Bannerman has with the Goanikontes deposit.


----------



## LifeisShort (22 January 2007)

Its frightening how far this thing has run how quickly.......rumour has it that the spike last week was due in fact to Chinese buyers coming in.


----------



## Rafa (22 January 2007)

Gotta love the chinese...

Kennas, i can understand your apprehension... i've read your other posts in wild horse, etc, etc. those shares to me are a risk, (including DYL)... and, at current prices, would consider offloading some...

this one, however, i am quitely confident....


----------



## LifeisShort (22 January 2007)

Even if there is a uranium bust like the dotcom.....the good companies will survive like Paladin, Rio, BHP, Bannerman....they might drop but eventually recover IMO. 

Just on the point earlier regarding Bannerman getting the gong for stock of the year in 2006 by virtue of rising some 2000%. Cast your minds back 3 years earlier and it was Paladin that won the same award....and what happened to them....at last check 3.5b market cap and still going. Yes circumstances might be different this time around but we have all heard the uranium story and its future.


----------



## LifeisShort (22 January 2007)

LifeisShort said:
			
		

> Its frightening how far this thing has run how quickly.......rumour has it that the spike last week was due in fact to Chinese buyers coming in.




Just to clarify the rumour.....i cannot pinpoint it but i have heard it from my broker DJ's today. It sounds like pure speculation IMO. It most likely be a price spike due to imminent results.


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## chris1983 (23 January 2007)

2.75 this morning.  How many of the buyers in the high 2.80's-2.90 levels are going to freak and sell out.  The results are most likely to be positive and allready factored into the price just like last time.  Its hard to predict which way its going to go after what happened from the last message..great message yet it retraced.


----------



## Sean K (23 January 2007)

chris1983 said:
			
		

> 2.75 this morning.  How many of the buyers in the high 2.80's-2.90 levels are going to freak and sell out.  The results are most likely to be positive and allready factored into the price just like last time.  Its hard to predict which way its going to go after what happened from the last message..great message yet it retraced.



I agree Chris, unless of course the results are more spectacular than expected. I think the market's expecting very good results. If it's sold off too much (overreaction is bound to happen) then it would probably be a buying opportunity, depending of course on the figures. Wish I wasn't going to Mexico on Thursday so I could be part of this...  Oh well, Mexico might be fun anyway.


----------



## chris1983 (23 January 2007)

kennas said:
			
		

> I agree Chris, unless of course the results are more spectacular than expected. I think the market's expecting very good results. If it's sold off too much (overreaction is bound to happen) then it would probably be a buying opportunity, depending of course on the figures. Wish I wasn't going to Mexico on Thursday so I could be part of this...  Oh well, Mexico might be fun anyway.




wow mexico..you did allright on the stock market last year then didnt you Kennas  haha.  You trade fulltime right?  Have a good holiday anyway.

A few buyers have come back in and pushed it up a bit.  2.84..but yeah it could go either way after the results.  I think its silly if they fell back especially if the depths on their upcoming results are at excellent depths like last time..but hey some guys are in for a profit..get in..get out and theres nothing wrong with that.  A profits a profit.


----------



## Rafa (23 January 2007)

nothing wrong in profit taking, i am certainly not one of them, but if others choose to, thats fine...

after the last announcement the sp crashed from 2.20 to 1.80... i bought some more...     

After this one, it could fall back to 2.50....
whilst i think i have enough of this stock at the moment, it would be a great buying opp, in my opinion (depending on the actual annoucement off course)


----------



## chris1983 (24 January 2007)

Looks like its Bannermans day again today...3.03..


----------



## the barry (24 January 2007)

Does anyone have any thoughts asto where the share price will go on this one?


----------



## chris1983 (24 January 2007)

the barry said:
			
		

> Does anyone have any thoughts asto where the share price will go on this one?




It really depends on the size of the Goanikontes deposit.  It looks like it could be quite a large deposit considering the depth they were hitting uranium at for the first few holes.  It coveres quite a substantial area also from the historic drilling and they believe it extends further.  They also have the swakop river tenement and excellent grounds in Botswana under acap resources mokabaesi deposit..

Could go anywhere..............we arent alloud to put price valuations.  I think it will be big though.


----------



## Sean K (24 January 2007)

the barry said:
			
		

> Does anyone have any thoughts asto where the share price will go on this one?



Barry, anyone putting a figure on this is taking an absolute pluck. It has co confirmed resource therefore predicting a valuation is impossible. 

It could be worth anything between $1.00 and $8.00 (or more) depending on what they eventually determine is in their ground.

The company is aiming to have anywhere between 50 and 200 mt with between 300 and 500ppm. It's a pretty wide range. If it's at the upper end of the scale, then it's a world class deposit.


----------



## Halba (24 January 2007)

also kennas- the 200mT figure is only from Anomaly A

they have 12 anomalies on their tenements!


----------



## LifeisShort (24 January 2007)

I'm don't even care about Swakop or Botswana. Its the Goannikontes that will make or break the company. The strike zone is huge and they are only so far exploring about 5-10% of it so the potential is massive


----------



## the barry (24 January 2007)

Thanks for your thoughts.


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## chris1983 (24 January 2007)

LifeisShort said:
			
		

> I'm don't even care about Swakop or Botswana. Its the Goannikontes that will make or break the company. The strike zone is huge and they are only so far exploring about 5-10% of it so the potential is massive




Well neither do I much LIS but its just to give a view on how much of a company Bannerman can really become.  All they need for a company maker is one world class desposit.  I think they have that allready but we need more results first.


----------



## jj0007 (31 January 2007)

Nathan Bruce McMahon becomes a substantial holder.  Is this the same Nathan as the MD of Cazaly Resources??


----------



## nsitt (31 January 2007)

jj0007 said:
			
		

> Nathan Bruce McMahon becomes a substantial holder.  Is this the same Nathan as the MD of Cazaly Resources??




good question.

In any case, whoever he is, looks like another huge buy up of shares. Lots of confidence in BMN. Gotta love good management! And ppl complain of the salaries top CEO's get sheesh! Good management is hard to find.


----------



## Reefer (31 January 2007)

Same Post Office box as Cazaly Resources in Perth so it must be the same dude.  Interesting that he's taking such a large stake.


----------



## LifeisShort (31 January 2007)

Of course it is. Cazaly and Bannerman are closely related in people power. Anyway spending 20m + on BMN for a trust is a pretty big confidence boost. My trust has a $2 coin in it


----------



## chris1983 (31 January 2007)

Yeah thats another good boost in confidence there.  Nothing much new from the report.  Still waitinf for the results..I wait..patiently.


----------



## MattThomson (31 January 2007)

The quarterly is out, looks good


----------



## nsitt (31 January 2007)

MattThomson said:
			
		

> The quarterly is out, looks good




Yea really good news not only now but for the future with plenty of drilling activity going on. Can expect a flurry of news this year.

Price went down but I attribute that to a generally horrible day on the markets with prices bein knocked back after yesterdays weak rise. Tomorrow should see prices being bumped back into value as its real cheap right now!


----------



## chris1983 (31 January 2007)

Just impatient holders nsitt.  They wanted news on the pending results IMO for a quick profit.  Probably in their minds they are thinking without news the sp will get smacked down.  I think there will be many investors waiting to soak up the shares sold off.  Wont fall too much..we know the results will be good and they are right around the corner.  There is no point in selling this...not yet.


----------



## LifeisShort (31 January 2007)

Did anyone notice a very important piece of information in the quarterly report???? The thing about modelling the data to give an interim resource to a median depth of 70m vertical to give an indication of the potential final resource at depths of 250m. This could be interesting......come on baby


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## chris1983 (31 January 2007)

I like their summary 

_"Results from the exploration programmes have so far met or exceeded all the Company’s expectations. In particular, Goanikontes is emerging as a significant component of the Company’s assets. The Welwitschia licence hosts a substantial strike extent of highly prospective alaskite stratigraphy. Assuming the Company’s initial target area of just 1.5km of strike, from a total of 37km of prospective strike within the Welwitschia licence, results in an interim resource then considerable scope remains for the rest of the licence."_

Jee 37 km of prospective strike..this could be the next Rossing..they are even pushing hints of that themselves from the report.

_"The drilling in GOA0012 has intersected mineralised alaskites at a downhole depth of 313.54m (36m @ 311 eppm U3O8), a vertical depth in excess of 290m, clearly indicating the depth potential. The Rossing pit is currently 300m deep with mineralisation continuing below the pit floor."_


----------



## aobed (31 January 2007)

Chris1983 - do you have any idea (or punts) on when some new results will be available?  I've been a longer term holder and am looking forward to seeing what the sp will do come the next set of results.  As you've mentioned, these should be inline with historic results... even tho, it would be nice to them published.  How long does it normally take to receive results from a lab?



			
				chris1983 said:
			
		

> I like their summary
> 
> _"Results from the exploration programmes have so far met or exceeded all the Company’s expectations. In particular, Goanikontes is emerging as a significant component of the Company’s assets. The Welwitschia licence hosts a substantial strike extent of highly prospective alaskite stratigraphy. Assuming the Company’s initial target area of just 1.5km of strike, from a total of 37km of prospective strike within the Welwitschia licence, results in an interim resource then considerable scope remains for the rest of the licence."_
> 
> ...


----------



## the barry (31 January 2007)

Does anyone think now is a good time to buy in or do they think that there might be further pull back in the share price? Any thoughts would be appreciated.

Thanks


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## LifeisShort (31 January 2007)

Results will be out very shortly......within a few days I believe (hopefully by Friday). Its always hard to say when to but when not to.......you need to figure this out on your own or with an adviser.


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## chris1983 (31 January 2007)

the barry said:
			
		

> Does anyone think now is a good time to buy in or do they think that there might be further pull back in the share price? Any thoughts would be appreciated.
> 
> Thanks




Hi...its up to you to work out if you think they could go further.  I honestly believe they will otherwise I would of sold out.  Potentially off a 23 km strike who knows what price they could go to.  It could be something ridiculous..I think there are more huge gains to be made..its still only the beginning..but once again you need to assess this yourself.  The last time results were released we saw the sp drop back from 2.15 to under 1.80 even though the results were good.  They later pushed up over $3.

Im in this for a long termer.  All the best with your decisions.


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## jj0007 (31 January 2007)

How freaken slow is it to get assays done these days?  At this rate (1 core per month) our resource estimate will be ready by Dec 2100.    

Looks like they are going to give Goanikontes 110% attention now and probably slow down activities in other areas.  I think this is a bloody good move.  Goanikontes is what will put money in the company's pockets first.


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## the barry (1 February 2007)

Interesting article today in the age saying that mcmahon has bought 7 percent of bannermans at 2.70. Interesting to note that fellow director of cazaly resources clive jones is also on the board at bannermans. A little inside information potentially??? Time to jump on board i think.


----------



## chris1983 (1 February 2007)

Looks good.  Link below for those who want to have a read. 

http://www.theage.com.au/news/busin...marks-bannerman/2007/01/31/1169919403802.html


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## UraniumLover (3 February 2007)

BMN - baby PDN 
 I believe there is plenty more upside than downside at 2.70
 I'm buying more as soon as i see an upward trend for Long Term. 
Still cheap when you look at it's resources and eveything it has going for it like location. Guys like Nathan McMahon buying in at these levels tells you
alot too..


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## Halba (4 February 2007)

yup caz guy is buddies with bmn guy. he loaded up at high prices too. another 7mil shares are now 'off the market' so to speak. 

Now for those long awaited assays?   


ground is so good this stock is gonna have a premium anyway/regardless


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## chris1983 (5 February 2007)

Hit a low of 2.58 today but hasn't taken long to bounce back up.  Some investors must be very impatient.  They allready know two holes being GOA0010 and GOA0012 to come back with Assay results are going to be extremely good.


----------



## LifeisShort (5 February 2007)

chris1983 said:
			
		

> Hit a low of 2.58 today but hasn't taken long to bounce back up.  Some investors must be very impatient.  They allready know two holes being GOA0010 and GOA0012 to come back with Assay results are going to be extremely good.




I missed the chance to buy some more.....I'm too bloody slow. Come on sellers I know you are out there.....


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## chris1983 (5 February 2007)

LifeisShort said:
			
		

> I missed the chance to buy some more.....I'm too bloody slow. Come on sellers I know you are out there.....




I just got into work and checked the low for the day.  Was a bit surprised.  Not many shares sold at 2.58.  Only 3600 shares.


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## mmmmining (5 February 2007)

Chris,
Have you read this report which I posted early?

http://www.mme.gov.na/gsn/pdf/uranium.pdf

Page 20-25 are talking about Goanikontes and the anomaly 1-14 on the north size of the river. It shows how wide it is for the outcropoing alaskite granite at Goanikontes. It also has some drilling info on the Anomaly 11, looking very good.

I cannot find anything related to ERN's properties. Maybe with your young and sharp eye, you can spot on something.


----------



## Halba (5 February 2007)

hi mmming

do a search on that pdf "erongo"

theres limited info available on erongo. but the fact it is in that booklet means it must have uranium in it


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## chris1983 (5 February 2007)

Hey mmmining..ive seen that article before when I searched google for information on goanikontes and other areas etc.  Halba is spot on..It is definately mentioned but not much info is in there.  I think we need to be patient with ERN.  I think investors also need to be patient with BMN because they may be cutting themselves short by selling out.  I have nothing to lose now and only more to gain..but I would advise those who bought in the high $2 range to assess the potential and realize there will be some good results announced soon.  The spectrometer readings dont lie.  You also pointed out the width of the outcropping alaskite granite.  It does look very good..which is why I havnt sold the rest of my holding and grabbed more profits.  The holding I have left is now in for the long haul.


----------



## the barry (5 February 2007)

I am in agreeance with chris, i have taken a 12 month view with this stock. Mcmahon Knows more about what bannerman has in store than anyone else outside the company and he has bought a 7 percent holding of the company at 2.70. I doubled my holding the day that was announced. Whilst there might be some short term downside, come 12 months there will be some seriously happy people.


----------



## Halba (6 February 2007)

yup why would he load up millions unless he had strong info

also bmn has held up extremely well in yesterdays blood bath


----------



## chris1983 (6 February 2007)

Another belting today.  Probably getting punished for the delays.  Impatient holders.


----------



## LifeisShort (6 February 2007)

Yep impatience.....word from management is that there was a stuff up at the analysis lab....hence the delay in results coming out. They are due shortly nonetheless. Next week is my prediction


----------



## chris1983 (6 February 2007)

LifeisShort said:
			
		

> Yep impatience.....word from management is that there was a stuff up at the analysis lab....hence the delay in results coming out. They are due shortly nonetheless. Next week is my prediction




Thanks for the update LIS.


----------



## ekman (6 February 2007)

chris1983 said:
			
		

> Thanks for the update LIS.



I used the google maps and it is a really wonderful web product.....no i don't own google shares!!


----------



## chris1983 (6 February 2007)

ekman said:
			
		

> I used the google maps and it is a really wonderful web product.....no i don't own google shares!!




Whats this supposed to mean?


----------



## mmmmining (6 February 2007)

I cuffed my hands so that I will not top up BMN just for today....


----------



## LifeisShort (6 February 2007)

mmmmining said:
			
		

> I cuffed my hands so that I will not top up BMN just for today....




Poke around the broking traps to gather any ideas why price would drop. No explanation except that it was probably due for a fall and peeps are getting impatient blah blah blah. Definitely nothing negative emanating from BMN as results should confirm the upbeat consensus. No major sellers either so it seems the day traders exited all at once. There might be a little more weakness before price recovery. Believers are hanging on and riding it all the way like me.


----------



## chris1983 (6 February 2007)

Could be more weakness but it could also be prime time to jump in.  It all depends how much longer the results are going to be. If they did come tomorrow we would see a rather large jump in SP being easy money to those who got in.  Thats just my opinion.  Im also in for the long haul so the quick money going into and exiting out of BMN doesnt phase me.  Results must be close though...I know you said there were delays LIS.  I just want results because I'm excited to see what have in the other 2 drillcores.  Im guessing we will also get the results from the elpse channel from the swakop river license so that will be interesting also.


----------



## LifeisShort (6 February 2007)

chris1983 said:
			
		

> Could be more weakness but it could also be prime time to jump in.  It all depends how much longer the results are going to be. If they did come tomorrow we would see a rather large jump in SP being easy money to those who got in.  Thats just my opinion.  Im also in for the long haul so the quick money going into and exiting out of BMN doesnt phase me.  Results must be close though...I know you said there were delays LIS.  I just want results because I'm excited to see what have in the other 2 drillcores.  Im guessing we will also get the results from the elpse channel from the swakop river license so that will be interesting also.




Yeah I got some more today.....its no secret that BMN should come out with good results. At least now the share price is not artficially inflated by day traders. I think its a fair price but if it drops any lower tomorrow then I'm selling my house and buying more (I wish). This is the bluechip of the uranium stocks


----------



## mmmmining (7 February 2007)

mmmmining said:
			
		

> I cuffed my hands so that I will not top up BMN just for today....



My glove is off, I bought some today. Just think it is a bit cheap. I may not pick up the bottom, but I think the valuation is looking good at this price.


----------



## drmb (7 February 2007)

It hit all my stops today, so not sure what is happening, will watch to see which way it goes. Very nice position, position, position but time to take some profits. Will watch with interest.


----------



## chris1983 (7 February 2007)

Pretty interesting eh...hmm


----------



## Halba (7 February 2007)

stuff up at analysis labs hmmmmm

good buy opps. that means the delay was not due to bmn.


----------



## chris1983 (7 February 2007)

haha..thats just rumour..but still..people have waited so long..why sell just because there are delays.


----------



## aobed (7 February 2007)

chris1983 said:
			
		

> Pretty interesting eh...hmm




A little strange to have such a drop Chris?  The share price has dropped quite considerably in the last week... any news in the wind?  Is it possible the results aren't as good as we're expecting?  If the price drops another 5% tomorrow that'll hit my stop... what about yourself?


----------



## mmmmining (7 February 2007)

drmb said:
			
		

> It hit all my stops today, so not sure what is happening, will wach to see if it which way it goes. Very nice position, position, position but time to take some profits. Will watch with interst




I don't use stop. It seems silly and stupid. I buy share by valuation and research. If I buy it, I would ignore the share price movement in a short-term. I will stick to my view until I can see there is fundamental change.

Take PNN for example, a lot of people just jump out at $1.40 for fear. I guess they are more than happy to buy them back at $1.70 for greed. So what is the point? I just did the opposite, and add some position, and make a very quick profit in a couple of days.

I cannot say it will repeat in BMN case, but I have all the time to wait. I would not sell anything without news or ann.


----------



## chris1983 (7 February 2007)

I have no stop.  Im holding this one untill production.  The drop doesnt really phase me.  Not yet anyway.  Its happened in the past.


----------



## ekman (7 February 2007)

I INITIALLY (3 MONTHS BACK) HAD A STOP BUT THEN CANCELLED IT YESTERDAY AS I FEEL THE COMPANY HAS A VERY GOOD LONG TERM POTENTIAL


----------



## chris1983 (7 February 2007)

It could very likely pull back to being even today.  The slaughter wasnt really justified.


----------



## chris1983 (7 February 2007)

Back to 2.43

Fundamentals havnt changed.  Too many panickers.  Could end in the green.


----------



## the barry (7 February 2007)

A little strange to have such a drop Chris? The share price has dropped quite considerably in the last week... any news in the wind? Is it possible the results aren't as good as we're expecting? If the price drops another 5% tomorrow that'll hit my stop... what about yourself?

It would be hard to believe that the results are going to be negative when you consider the the cazaly director accumulating those shares at 2.70. I am using this as an opportunity to accumulate more shares.Although if this trend continues my whole portfolio will end up in there. Hopefully we have seen the worst and the upward trend will resume.


----------



## chris1983 (7 February 2007)

Results wont be negative.  They are re-drilling next to historic holes to confirm the grades from the historic drilling.  IMO you can mark down the next message to be a winner.  We allready know results for 2 of the 4 holes also.  Way to much over reaction with stops being hit.  Some guys are smiling from the morning though.  Some are crying.


----------



## chris1983 (7 February 2007)

Well there you have it..finished even.  Hopefully the bounce today continues tomorrow morning.


----------



## LifeisShort (7 February 2007)

the barry said:
			
		

> A little strange to have such a drop Chris? The share price has dropped quite considerably in the last week... any news in the wind? Is it possible the results aren't as good as we're expecting? If the price drops another 5% tomorrow that'll hit my stop... what about yourself?
> 
> It would be hard to believe that the results are going to be negative when you consider the the cazaly director accumulating those shares at 2.70. I am using this as an opportunity to accumulate more shares.Although if this trend continues my whole portfolio will end up in there. Hopefully we have seen the worst and the upward trend will resume.




Its a perfect opportunity to enter this stock. Nothing has changed at all. Results which should be excellent will be out either Friday or next week. As for the sell off it was triggered Monday by impatience....then everyone followed due to STUPID stop losses......I don't understand why you would have one on a stock like BMN who can fluctuate 10-20% a day. Anyway the further it went down the more stop losses it triggered. It perpetuated the whole sell off. Hopefully we flushed out the day traders and we are back. If someone can give me one good reason why I should sell then I will but until then I'm holding till I turn blue.


----------



## gamerice (8 February 2007)

How does BMN's resource/assets compare to that of AGS?
Given that AGS's s/p has dropped 40% in the last eight trading days.

And yet no fundamentals has been changed, still being touted as one of the best U find in Australia for the past 20 years.


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## LifeisShort (8 February 2007)

There is no denying that some uranium explorers got hit over the last few days. Quality asset companies like EME, BMN, AGS........they are all back to quite reasonable levels IMO, where perhaps a buying opportunity has emerged. Uranium price has changed, so the fundamentals of these companies really hasn't changed overnight its a lot of profit taking and if something goes down quickly then it spooks others to sell their stakes etc etc


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## chris1983 (8 February 2007)

Not much happening atm..maybe buyers are a bit sad they didnt jump in yesterday.  I dont think we will see that level again.  On the charts there has been a consistant fall before the next rise and recovery to break previous highs.  Heres hoping that trend continues.  I think it will if we do get results next week or even tomorrow.


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## chris1983 (8 February 2007)

The more I see Paladin goes up..makes me wonder where this one will be in 2 years time.  If there really is the amount of ore and uranium they say there could be at Goanikontes Bannerman will have a good future and share holders will be rewarded if you havnt allready been.  Its comforting to see a company such as Paladin firing.


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## Broadside (8 February 2007)

chris1983 said:
			
		

> The more I see Paladin goes up..makes me wonder where this one will be in 2 years time.  If there really is the amount of ore and uranium they say there could be at Goanikontes Bannerman will have a good future and share holders will be rewarded if you havnt allready been.  Its comforting to see a company such as Paladin firing.




location location location...why I got into BMN in the first place and it is being vindicated, couldn't be better placed between RIO and PDN's mines, extremely prospective in a pro-U mining environment.  Holding long term, sold 1/3 on the way up the rest are keepers.


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## LifeisShort (8 February 2007)

Broadside said:
			
		

> location location location...why I got into BMN in the first place and it is being vindicated, couldn't be better placed between RIO and PDN's mines, extremely prospective in a pro-U mining environment.  Holding long term, sold 1/3 on the way up the rest are keepers.




You're not wrong there......I'd rather have a village among metropolises then a metropolis among villages.........just as BMN is among RIO and Paladin. I know scenario would be more fruitful


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## Halba (8 February 2007)

my prediction:

BMN will work hard on their jorc this yr and sell it off to a Cameco for about 3.50-4 dollars!


This type of resource is more fit to a major to develop not for a junior!!


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## Broadside (8 February 2007)

Halba said:
			
		

> my prediction:
> 
> BMN will work hard on their jorc this yr and sell it off to a Cameco for about 3.50-4 dollars!
> 
> ...




I could live with that outcome though I think many would like to ride it a lot higher if things go well....as an aside is Cameco on the hunt for U speccies, I wonder if they hedged their Cigar Lake production and maybe now face a major shortfall which they need to fill somehow.  If so they would need companies much closer to production.


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## Halba (8 February 2007)

YUP Cameco said in last nights report they are on the lookout 'for the next big one;'

Goanikontes is Namibia's largest uranium deposit along with Rossing!

If Cameco a major develops it, it could go into production as early as late 2009. If BMN develops it might take longer


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## chris1983 (8 February 2007)

Halba said:
			
		

> my prediction:
> 
> BMN will work hard on their jorc this yr and sell it off to a Cameco for about 3.50-4 dollars!
> 
> ...




$3.50-4 would be cutting us short Halba.


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## chris1983 (9 February 2007)

Bit of a stand off atm isn't it.  Buyers dont wanna push any higher and sellers aren't budging.  Results are due soon and could come out early next week which I think will be good.  I wonder how badly those buyers at 2.51 want in.  Still plenty of time left in the day though


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## Halba (9 February 2007)

I heard results not due out for a while.

The drill rigs are slow and the lab boys even slower (straight from the source: BMN).

They have been waiting over 3 months for their Swakop river results..apparently they say the south african labs are simply not up to the capabilities of handling high volumes.

They are also reluctant to give out spectrometer readings..prefer waiting for the labs..i wonder why??? Labs will take 3 months to give the results from the current program, too long!!


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## chris1983 (9 February 2007)

Did you call them?

Probably want the assays..they cant just continue to push out great spectrometer results without assays.


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## Halba (9 February 2007)

thats correct

they are looking at other labs to fast track


share price up in line with others today


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## the barry (9 February 2007)

Stoked, took the opportunity to top up my holdings at 2.60 and 2.45. Now just need them to keep running. Just hit the 2.70 mark. I still think that in 12 months time anyone holding this stock will be very happy. You only have to look at paladin and the run it has had to realise the potential of a company with a world class reserve, which  bannermans has.


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## chris1983 (9 February 2007)

Well after dropping to 2.22 they have recovered excellently and are looking good on the charts.  All the problems with the cigar lake uranium mine must be helping the cause for your uranium explorers.


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## LifeisShort (9 February 2007)

I still believe results are going to be out very shortly......like next week......good old bannerman forever.... (any collingwood fans? If so this is your stock as it fits in so nicely with your club song.)


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## captjohn (9 February 2007)

LifeisShort said:
			
		

> I still believe results are going to be out very shortly......like next week......good old bannerman forever.... (any collingwood fans? If so this is your stock as it fits in so nicely with your club song.)



I'm an Eagle fan from Perth , a new member of ASF( yesterday),..........trading on & off for 10 years & been accumulating BMN since June 2006.
It's really great to read all your opinions  over the past 9 months especially from chris 1983 ....I'm learning a lot from him. ....keep up the good work.
Like you guys I'm not selling my BMN ....it'll be a 'golden egg' ....like paladin....
I'll always regret about 4 years ago selling off 250,000 PDN when they hit  ....20 cents   I got 'em for  about 4 cents.sob sob.
Anyway from now on I'll be watching all your comments on bannerman as I have put 'all my eggs into one basket'
captjohn


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## chris1983 (9 February 2007)

Goodluck captjohn.  I dont think you can lose with all your eggs in one basket with Bannerman.  You are probably way in front allready looking at the time when you started accumulating.  Just dont stick to that practice of all the eggs in the one basket for the rest of your future trading career.  Its too dangerous.   Seems to have paid off with Bannerman though.  You can now cheer the stock on with the rest of the believers on ASF.


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## Rafa (9 February 2007)

all you eggs is one is risky, but highly rewarding...
still, i'd consider diversification into a few others with 'proven' resources... AGS, SMM... all high quality stocks, MTN is another.


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## drmb (9 February 2007)

captjohn said:
			
		

> .... Anyway from now on I'll be watching all your comments on bannerman as I have put 'all my eggs into one basket'
> captjohn



Warren Buffett "“Wide diversification is only required when investors do not understand what they are doing.” However, I do not know what I'm doing some of the time, and muddle through the rest of the time. I really lost it when my bmn stop hit Thursday which I had set to secure profits in case anything drastic happened.    Of course on a sell down all the stops got hit so my bmn disappeared off the screen before I knew it. At least I took a profit, which is good but have now bought back in and more when the price dipped yesterday. Happy to see it back in the portfolio   and this time, no stop! However, it is 3% of my smsf, I think unlike Buffett I have to diversify! It's in the smsf rules


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## LifeisShort (9 February 2007)

captjohn said:
			
		

> I'm an Eagle fan from Perth , a new member of ASF( yesterday),..........trading on & off for 10 years & been accumulating BMN since June 2006.
> It's really great to read all your opinions  over the past 9 months especially from chris 1983 ....I'm learning a lot from him. ....keep up the good work.
> Like you guys I'm not selling my BMN ....it'll be a 'golden egg' ....like paladin....
> I'll always regret about 4 years ago selling off 250,000 PDN when they hit  ....20 cents   I got 'em for  about 4 cents.sob sob.
> ...




I bet 99.9% of shareholders who bought at those prices would've sold out by now. Only those who bought and either forgot about them or died still have them (those who dies wouldn't but it still be in their name...).


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## Halba (9 February 2007)

some ppl like me have come rather late to the party.

prolly the resource is better suited in a major's hands


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## chris1983 (9 February 2007)

Halba said:
			
		

> some ppl like me have come rather late to the party.
> 
> prolly the resource is better suited in a major's hands




I didnt forget about them..and I'm still alive..but I have sold along the way to free carry and also lock in profits.  The 3 for 1 share split was a blessing to those in early.  But anyway back to Halba's comment..you think BMN could be a prime target for takeover?  They better take them over now then... before they get a chance to drill the resource out.  The SP will be 10 bucks by the time someone comes in and makes an offer.


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## BSD (9 February 2007)

chris1983 said:
			
		

> They better take them over now then... before they get a chance to drill the resource out.  The SP will be 10 bucks by the time someone comes in and makes an offer.




Sorry Chris, but this comment is PURE and ABSOLUTE BULLSH!T

*How do you know how much U is under the ground when RIO/PDN/other suitors (like most mortals) need to see drilling results????*

BMN needs some stunning results to maintain the current massive valuation

I hold a very small parcel in this so I am not 'jealous' or whatever criticism people will launch.


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## chris1983 (9 February 2007)

okay.  Well if there is anything in the ground by the time they do find out its there they will be $10 a stock.  They miles well make an offer now if they want to get Bannerman cheap.  Figures are below but its all guesswork.  Ive posted this before.  Nathan McMahon obviously thinks they will go further with him buying shares in the company recently at 2.70.

Goanikontes alone is in excess of 22km for the strike length. Assume a width of 50 meters even.

*Summary: 22000m strike x 50m width x 100m depth = 110,000,000 Cubic Meters*


I found on a website that it is about 2.4 tonnes per cubic meter. So that comes to around 264,000,000 tonnes.

Lets say they have an average grade at 0.03. It equates to in excess of *79,000 T of uranium*.  Not bad when you compare it to Paladins resource. Paladin has a market cap close to 5 billion.  It just shows where Bannerman can take the company.

*Paladins Resource

Ore Reserve Estimate 32.2Mt of ore @ 0.07% (Measured & Indicated) (22,200t U3O8) 

Total Inferred Resource 40Mt of ore @ 0.06% (23,800t U3O8) * 

The in ground value will be 158000000 pounds multiplied by the spot price of 75. This equates to around 11.85 billion dollars inground value off current prices and they believe this will continue to increase. Don’t forget this is all pretty conservative. You can pretty much lock these uranium prices in because there is going to be no slow down in demand for uranium. Talk about the best long term investment you possibly could find IMO.

Remember this is all in relation to the Goanikontes prospect and not including the additional anomolies on the epl such as the Rossingberg 11 Anomaly (R11) which has been shown to extend for a total of 15 kilometres 

It is important to note this information from Carmichael research report released on the 26 September 2006

“The Goanikontes Anomaly A has been extended by an additional 1.5 km along strike, north of the Swakop River. In addition, a high tenor uranium anomaly is present on the eastern side of the Goanikontes Dome, in a similar structural position to both the Rossing and Valencia deposits. This anomaly was previously un-recognised and lends weight to the suggestion that the Goanikontes anomaly may be present around the whole nose of the dome, but is obscured by cover in the south. Spot uranium anomalies on the southern end of the dome support this view. This would have the effect of increasing the strike length of the Goanikontes Anomaly from 10 km to 22km.”

So we don’t know if the entire strike length of Goaniktones will be 22km..but even with a 10 km strike length there will be a lot of uranium there.


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## chris1983 (9 February 2007)

I'm glad you have a small holding.  Hang onto them tightly.  Might become a small fortune.


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## chris1983 (9 February 2007)

Ohh yeah..I must add..they could get half of what I had said and they would go to $10+ a share easily based off the amount of shares on issue..so what I said in regards to $10 per share isn't BS.

People would of been saying Paladin at $10 a share is BS too.


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## LifeisShort (9 February 2007)

chris1983 said:
			
		

> Ohh yeah..I must add..they could get half of what I had said and they would go to $10+ a share easily based off the amount of shares on issue..so what I said in regards to $10 per share isn't BS.
> 
> People would of been saying Paladin at $10 a share is BS too.




No I'm happy for peeps to question and have some negative comments. Its healthy to spark debate and clarify things. Debate only spurs better understanding and promotes a real picture of the company.

Keep em coming I say.....Chris will just cut and paste previous posts to answer all your questions


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## BSD (9 February 2007)

*chris1983 Ohh yeah..I must add..they could get half of what I had said and they would go to $10+ a share easily based off the amount of shares on issue..so what I said in regards to $10 per share isn't BS.*


If it isnt BS - a euphemism could be "an optimistic guess".

Anomolies are not reserves, they are not resources, they are not bankable, they should be risked at about 5% of potential 

You are extrapolating -they 'could' go to $100 - but it may not be supported by valuation metrics. 


Some points:

How much dilution are you assuming to get the project (if there actually is one) to production?

At your $10 per share valuation - the existing 136,612,500 shares will make a $1.30 billion company (AWE, ADB, KZL) 

Assuming they need $100m to drill out and do a full Bankable Feasibility Study then another 30,000,000 shares may be listed in the interim. 

Assuming the BFS (probably completed around 2009) is good, they could need $1bn in cash to get the mine built. 

Assuming the $1bn was raised with 30% equity another 100m shares may be issued. (who knows?) 

You can see that by the time the reality of production hits *(where your yardstick PDN is NOW) * - we could well be in about 2012+ and there could be about 260,000,000 shares on issue and a lumping $700m debt facility. 

Your $10 val would therefore price the future market cap at $2.6 billion (SEV, OST, SGM, MCG, MRE, BBI).

This $10 valuation in present vaue terms,  using a reasonably high 12% discount rate, in five years woudl be the future equivalent of $20 per share or a $5 billion company (FXJ, TTS, RMD, BLD, CPU, ALN)

________________________________

To come up with your $10 val, what are your assumptions beyond extrapolating anomolies and applying PDN's metrics?

Mine life, production, grade, capital cost, U price, debt /equity split

What year would you expect production?

Do you think that the global prevalence of U exploration could effect the U price in the 10 years we will wait for any production?


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## chris1983 (9 February 2007)

haha dont you own shares in Bannerman?  Please sell on monday


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## Halba (9 February 2007)

BSD

Its ok everybody is entitled to their opinion, and just like many others it is a speculative investment. Its not a trading share IMHO

BMN has 250 historic drill holes, proving up the mineral over 1km strike length. 

Theres no issue regarding the resource -its just the extent/depth (which also have been confirmed by new drills)

Regards

Halba.

of course target price depends on a number of factors including resource, but more importantly production rate, exploration potential, costs of production, time to production. The resource structure the way it is(open pittable) ticks all the right boxes here.


re : high valuation. Don't think very high? Mkt cap about $300m, assumes only 30 mil pounds (13,000t).


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## BSD (9 February 2007)

chris1983 said:
			
		

> haha dont you own shares in Bannerman?  Please sell on monday




Thanks for your in-depth response

At least your type of analysis will provide a bigger idiot for me to pass the parcel to. 



			
				halba said:
			
		

> BMN has 250 historic drill holes, proving up the mineral over 1km strike length.
> 
> There's no issue regarding the resource -its just the extent/depth (which also have been confirmed by new drills)
> 
> ...




On what metrics does 30m/lb = $300m?

How did 10-20km of strike become 1km and we are still happy to extrapolate with 'no issue' about the resource?

Do you guys not believe you need a Bankable Feasibility Study ?

How many holes do you think it will take to get a bankable project?

When do you see production?


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## the barry (9 February 2007)

BSD said:
			
		

> Thanks for your in-depth response
> 
> At least your type of analysis will provide a bigger idiot for me to pass the parcel to.
> 
> ...




Mcmahon bought 8 percent of the company at 2.70. Aside from everything else going for the company that is about all the information i need.


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## LifeisShort (9 February 2007)

BSD said:
			
		

> Thanks for your in-depth response
> 
> At least your type of analysis will provide a bigger idiot for me to pass the parcel to.
> 
> ...




So many questions....i like it (someone finally standing up to the happy family of BMN).....you seem to have an incredible interest in the stock for someone who only has a very small parcel......Can i take you back about three to four years to a company called Paladin who have had more or less a similar path in front of them.....its probably not a fair comparison because they are completely different companies and have absolutely nothing in common but the point being is they seemed to do alright and achieved their goals in a rather less helping environment. The moral to the story is the best case scenario is hello Paladin all over again or worst case just another Poseidon.......I think we all realise the inherent risks associated with an exploration company and its pitfalls trying to become something other then an exploration company.....its no rocket science that there is **** loads of obstacles ahead but you have to agree...so far so good (although still early stages)??? Lets cross each bridge when we get there and be vigilant.

p.s. if you need to find out in depth answers to your questions then ring an analyst or 2 who has written a report on BMN to get some figures and an opinion. 

but i don't need to tell you that cause you seem intelligent enough to do that yourself and realise this is just a forum of punters and investors who share their opinions (drum up support for their favourite stocks and present their cases to the masses)


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## jj0007 (9 February 2007)

If it takes 1 month to assay a core then we'll be in production in the year 3000.    

The most optimistic scenario would be production in 3 years IMHO.  

Lets say they get some cash in the kitty now and start to drill the $@#! out of the area this year, then they can probably get JORC estimations by end of year.  They may even be able to start a PFS towards the end of the year depending on the results.  They can probably start a BFS in year 2 say around March.  You can assume 12 months to complete BFS.  Don't forget if the project starts to look economically good they can even start mine construction during BFS.  Optimistically they could get a mine up and running in say 12-15 months from end of BFS.

Also don't forget if the resource is anything like Rossings then it will be *open pit * mining.  Don't think it will be a $1b mine construction     .  Don't discount the possibility they may even ship the ore to Rossings if there is sufficient capacity. 

I don't have a price target for BMN as I don't believe we have sufficient information to do so.  It's still speculative.  But all I know is that if U price stays this high...based on the information we do have today, BMN is not "overvalued" IMHO.


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## mmmmining (9 February 2007)

I think it is a big of stretch try to compare BMN to PDN.

PDN grew with U price increasing from $7 to the current level because it started with a pretty defined resource already. While BMN started when U price at $30 something, and try to prove it has enough uranium. That is the beauty of the BMN which will reward the true believer with in depth research because its value grew with more good drill news together with U spot price. It is not a easy stock to hold if you have a weak hand.

But I won't dispute the destination might be the same $10+ stock one day if BMN can define enough U, and put into production before anyone else do.


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## drmb (9 February 2007)

LifeisShort said:
			
		

> ......its no rocket science that there is **** loads of obstacles ahead but you have to agree...so far so good (although still early stages)??? Lets cross each bridge when we get there and be vigilant...



Very interesting discussion but I think another factor is the spot U price which is going up all the time. Since I started managing my own smsf I have seen U spot climb from the 40s to the 70s rather dramatically, and if you check HC (Ok there is sometimes some interesting stuff going on there) the discussion is that U spot Monday will be 80. How true that is will be easy to check come Monday. On kitcometals there is a link to a Bob Kirtley article http://www.kitco.com/ind/Kirtley/feb072007.html in which he speculates that U will be $200/lb "in the near future", whatever that vague term means. But I get the drift. U spot is not going sideways or down, it is going in one direction only - up! And that is why I bought back into BMN!


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## chris1983 (10 February 2007)

wow..I came home to a lot of posting..my post was based off assumptions.  They have historic drilling over a 1km strike at Goanikontes but the anomoly extends to 22km.  Its not the only anomoly on the license don't forget.  Of course I know anomalies aren’t resources  but I’m not like you..sitting back until it becomes a large resource.  I bought in early expecting them to map out a huge resource.  Anomolies and historic drill holes are all I had to go by when first buying into BMN.  You can get a larger holding when they prove it's there and pay $6 a share.



			
				BSD said:
			
		

> How much dilution are you assuming to get the project (if there actually is one) to production?




Not much.  They don’t need to release many shares to raise 30 million dollars.  They will get some money coming in from the exercised options and that should keep them going for some time seeing further increases in the SP.  They may even get some early income from their swakop river tenements.  If they hit uranium in there it would more than likely be processed through Paladins Langer Heinrich mine.  It would be in the best interest for both of the companies I would think.  Once again depends if there is anything there though and we are waiting on drilling results.  This would be a bonus to the company because they seem to allready have excellent potential to have a world class resource at Goanikontes alone.



			
				BSD said:
			
		

> At your $10 per share valuation - the existing 136,612,500 shares will make a $1.30 billion company (AWE, ADB, KZL)




1.3 billion dollar company..Paladin was a 1 billion dollar company with no production..its been a billion dollar company for quite some time now so what makes you think BMN cant repeat what PDN has done.



			
				BSD said:
			
		

> Assuming they need $100m to drill out and do a full Bankable Feasibility Study then another 30,000,000 shares may be listed in the interim.




You talk as if 30,000,000 shares is so many.

Go have a look at the Placements made by PDN when they first started.  There is a big difference.  Bannerman can make placements more than likely in excess of $3 a share.

Your entitled to your opinion and hats great but to me my assessment of you is that you dont like to go into companies that can actually turn into something big.  You don't have much faith.  Dont just think Paladin will be the only uranium company to fly.  Bannerman has allready done wonders and has had excellent returns for share holders.  Heck if they didnt have the share split they would almost be $10 a share now and people would of probably though that would never happen.


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## BSD (10 February 2007)

Thanks everyone for the more detailed responses. 

I think it makes more entertaining reading than one line blurbs offering massive price targets with limited reasoning. 


It is very true you need to take a leap of faith, have steady hands and patience to make big $$$$ in mining shares.

Personally, I like to buy between Pre Feasibility and Bankable Feasibility - with the view to holding for production. 

I guess my leap of faith is generally from a lower hight!

Regardless of project size, these companies in the past have typically had market caps of 35-100m. 

BMN is now valued at 350m and that is a lot to pay for an explorer. 

The current valuation is stretched due to uranium hype and I avoid buying hype 

Remember that if uranium goes to $150 - it is only up 100% from here. The 1000% move from $7 to $70 is what created PDN. 

Uranium is a very common substance I would add. 

_________________________________________

BHP is planning on having *annual output * of Uranium from Olympic Dam of 15,000 tonnes!

PDN has reserves at Langer Heinrich of only 23,000tns 

http://www.paladinresources.com.au/aurora/assets/user_content/File/ProjectDescription.pdf

The total inferred resources for PDN is around 80,000tns. 

Considering the cap of PDN is $4.4bn - the implied value of the U alone in Olympic Dam could well exceed the current MARKET CAP of BHP

I don't think the valuation of PDN is a very good yardstick for any stock.


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## Halba (10 February 2007)

hi BSD

you raise very valid points re: being a hype. I have to 100% agree with you. As normally looking at fundamentals, it is a hype, but certainly something we can make money from. Additionally, its better than dotcom where the U companies actually have a chance of making good money. one important point is that BHP's olympic dam can be the subject of regulatory delays, cost blowouts, labour shortages thus not enabling it to meet its timetable. Most aussie projects are a Joke. I don't hold paladin, but its revenues are going to be extremely high purely because of luck, and timing of the u price rise. 

Another reason why U companies p/e is high is the ability to lock in 5-10 yr contracts at these high levels, ensuring certainty of revenue stream.

*Moreover i would not compare BMN to PDN, but other similar junior/explorers in namibia listed on the TSX(canadian stock market).*

Forsys Metals: About 30,000t U, but grades 200ppm- Market cap $400m.

Stage: JORC/Pre Feasibility. Production early 2009.

Uramin Ltd

: About 30,000t U reserves, but grade very low 120ppm. Inferred about 4 times this much(but may not all be mineable). Mkt cap $1400m.  Stage: Bankable Feasibility Study. Note: it has a few other smaller African uranium projects(outside namibia)

Production 4Q 2008.

More importantly, both companies have been rapidly rising on the TSX, averaging rises of about 2% each day (500%+ a yr)

BMN is cheaper than both.

Proof of BMN's resources:

_Anomaly A has been
outlined in over 250 historic drillholes and has two zones with strike lengths of at least 1.4km and 3km each.
The mineralisation has similar grades to Rossing and Valencia. Some of the more significant intersections from
these programs include:
• 50m @ 0.0457% U308
• 45m @ 0.0393% U308
• 46m @ 0.0443% U308
• 23m @ 0.0541% U308_

Re: Mining studies. Doesn't have to wait until the full drill program complete. Once it establishes a resource from historical drills /confirmation (through modelling) it can start scoping studies. Also BMN can simply sell it to a 3rd party.

For comparison purposes, we have assumed Goanikontes has a 50Mt resource at 0.035% U3O8 for 38.6mlbs
U3O8. Bannerman’s share of this resource would be approximately 30.9mlbs.

At @  price of $2.70, Mkt cap fully diluted $350M. Ev/lb is $11/lb, but with plenty of "exploration upside"/blue sky. 50mT is conservative, as anomaly A is thought to be 200mt-350mT.  Also its in favourable areas which allow u mining. forget u mining in australia- just heaps of delays, bureacratic bulldust.


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## drmb (10 February 2007)

BSD said:
			
		

> Uranium is a very common substance I would add.



Yes it is, but my understanding is that it is a problem getting it in sufficient concentrations to make extraction commercial, which may be around 200ppm. You can also find gold in sea water but same deal, not concentrated enough to make it feasible.



			
				BSD said:
			
		

> Also its in favourable areas which allow u mining. forget u mining in Australia- just heaps of delays, bureaucratic bulldust.



Sounds right. I saw BMN hit a profit stop last week but immediately bought back in and don't have a stop any more! I hold BMN, PDN and SMM, having seen AGS and DYL go when it hit my profit stop. I didn't buy back into DYL, I think it is going to be a market cap issue and I figure I have exposure to DYL anyway with my PDN holding. The problem with SMM is not only have they got their U in Australia but it is in Qld, with anti U currently. Now that may change in April when Labour has its conference, and it probably will, but this adds another uncertainty. I would rank my SMM very hopeful. Would rather have the U in Namibia with its pro mining government to reduce that risk. 

If labour does change its U policy then we still have the Greens, not a major force but now there is a buzz that certain elements are likely to demand banning coal exports! Rather have Namib, thanks 

My summary - BMN is the likely one in the U hopefuls to make a go of it.


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## Halba (10 February 2007)

i hold smm because its likely output of over 5 million pounds, the NPV of the project is very very high


----------



## chris1983 (10 February 2007)

BSD said:
			
		

> I think it makes more entertaining reading than one line blurbs offering massive price targets with limited reasoning.




I’m guessing this is directed at me but if you read the entire thread there is reasoning all throughout.  If you can’t attempt to work out a resource based on the information you have that’s good.  I’m just different and like to have an attempt at what they may have and I always use the word “may” or “potential”. You have stated in your post



			
				BSD said:
			
		

> Personally, I like to buy between Pre Feasibility and Bankable Feasibility - with the view to holding for production.




Well that’s where you and I are different.  Go read the Erongo Energy thread.  You probably wouldn’t touch that stock with a 10 foot pole with the stage’s they are at right now.  I have a nice holding in them and as they progress their projects in Namibia which I’m pretty sure they will do I’ll be the one reaping the rewards from the early stages.

You attacked me for saying



			
				chris1983 said:
			
		

> But anyway back to Halba's comment..you think BMN could be a prime target for takeover? They better take them over now then... before they get a chance to drill the resource out. The SP will be 10 bucks by the time someone comes in and makes an offer.




Now I say they better take them over now before they get a chance to drill out the resource and yes BSD as they progress their projects such as the Goanikontes prospect I am hoping for a $10 price target.  As long as they continue to map out a large resource and bring it to a JORC compliant resource then they can start looking at a BFS.  Bannerman have 80% interest in their EPL’s.



			
				Halba said:
			
		

> Proof of BMN's resources:
> 
> _Anomaly A has been
> outlined in over 250 historic drillholes and has two zones with strike lengths of at least 1.4km and 3km each.
> ...




Some additional grades below.

Section 126 of Anomoly A reported grades of

Better Drill Intercepts;

_23m @ 541 ppm U3O8
50m @ 457 ppm U3O8
46m @ 443 ppm U3O8
44m @ 436 ppm U3O8
23m @ 397 ppm U3O8
45m @ 393 ppm U3O8
60m @ 269 ppm U3O8
62m @ 260 ppm U3O8_

Extensive area >5km by 300 to 800m wide. Up to 60m thick.
Mineralisation to 200m+ depth (extent of drilling).

Plus in the recent drilling results they had confirmation for depth extensions to the resource hitting uranium at 300 meters plus depth.

Anyway that’s enough from me.  Day out with the misses.  Have fun all.


----------



## jj0007 (10 February 2007)

BSD said:
			
		

> Uranium is a very common substance I would add.




That's true.  Uranium can be found is most places.  However, the question remains whether most of those places have sufficent quantity to make an economical mine.

I think earth as we know it has sufficient Uranium to service the demand in the long term.  However in the short - medium term, there just hasnt been enough activity in the past to supply the demand. 

Which is why it is critical to pick an explorer that has a very REAL chance of mining within say 5 years.  BMN fits this bill if they put 110% into Goanikontes, which they seem to be doing.  

I'm definately not one that will be holding onto U stocks for the next 10-15 years.  Things happen in cycles....and its U's turn


----------



## Halba (10 February 2007)

mngmt is in africa right now trying to fast track the drilling/receipt of work. They have admitted it is slow in Africa- however the approvals are not. Royalty is bugger all, and taxes low. Capital cost for developments are 1/5 of that in Australia. The likelihood of blowouts are lower. The labour is more available. Its open pittable.  I wouldn't bother with MTN and the lot, they are going to take a lot longer than BMN!!

I am thinking of allocating further $$ from my fund into bannerman. Its simply a stock where you simply will never have enough of. I have plenty of free funds from sales of other underperforming shares, nearly 15-20% cashed up now in this market.

I don't know blue chips and never been good at picking them.


----------



## mmmmining (10 February 2007)

Halba said:
			
		

> I have plenty of free funds from sales of other underperforming shares, nearly 15-20% cashed up now in this market.



Halba,

Which stocks have you sold recently?

Cheers


----------



## LifeisShort (10 February 2007)

He probably refers to selling his underperforming dogs like BLR, NWE...you know those that only gain 500% instead of 1000%.....


----------



## Halba (10 February 2007)

some of my zinc stocks

INL
BSM
MLS
1/3 of my PEM


----------



## pacer (12 February 2007)

IF YOU BUY URANIUM THEN UR GONNA NEED TO INVEST IN SLA....when Cheroble blew up, most of the crew used a cream supplied by them (SLA), the ones that diddn't are dead, the ones that did are actualy able to say they are glad they did......and that's not the only good thing about this company.....rampramp....what's better than uranium....the cure.....lol


----------



## Halba (12 February 2007)

is that a cross ramp? LOL


----------



## Halba (12 February 2007)

bought more bannerman today

i am putting money where my mouth is


----------



## mmmmining (12 February 2007)

Halba said:
			
		

> bought more bannerman today
> 
> i am putting money where my mouth is



Warning: keep coins from Halba! LOL


----------



## LifeisShort (12 February 2007)

Halba said:
			
		

> bought more bannerman today
> 
> i am putting money where my mouth is




Is that a sign for all of us to sell??


----------



## Halba (12 February 2007)

> Quote:
> Originally Posted by mmmmining
> 
> _Warning: keep coins from Halba! LOL _




Never heard this expression before. it must be a new one lol.


----------



## pacer (12 February 2007)

Still gonna ramp the 'cure' for radiation sickness....I have a few of BMN but this one is a cover story for fridays mag....DYOR

http://www.australianinvestor.com.au/magazine.asp?id=2248


----------



## captjohn (13 February 2007)

Today 's announcement by FN Arena (BrokersCall) that ERA & PDN have been revalued at $44 & $16 .
The market reacted with accordingly.....ERA was up 10% plus.within an hour of opening

This adds support to Chris1983 opinions ( and mine ) that BMN  will 'catch up' to Paladin  within 2 years( presuming drilling results O.K.........& I reckon $10 a share is  now conservative.
Now I will never regret putting most of my eggs in one basket .I bought  nearly 200,000 BMN  mainly based on 'historic drilling results '& also surrounded Paladins mine & close to RIO  etc..
Remember that I'm the 'mug' that sold 250,000 PDN for 20 cents....  about 4  or 5 years ago.
That's why this time I'm not selling off.I believe (or, like to believe ) that BMN is another PDN.
However I do always 'trade.  approx.10 % of my  shares'....  ie...every time the M.A.C.D gets well above the 'trigger signal' & R.S.I. starts to drop down to the 70 level .I sell off 15-25,000   & try to buy back at 15-20% less.

Trading live on'Powertrade' can be a lonely isolated profession & now that I'm a new member it's great to read all your opinions & rhetoric & theories about uranium & bannerman in particular.
captjohn


----------



## Halba (13 February 2007)

yes i know ppl that make living trading on 1 company - their focus is on one

bmn is a pretty good one

i think valuing era at $44 is ridiculous, as BHp's olympic dam would then be worth $100bn under those assumptions


----------



## chris1983 (13 February 2007)

I wish I had enough money to afford 200,000 Bannerman  haha.

Good luck CaptJohn..I dont think you need any luck and I'm pretty sure you'll be a winner on your investment..but you have got to have balls to put it all into one.  If you make the cash..you deserve to make the cash for making that choice.


----------



## Halba (13 February 2007)

yeah thats a lot of money in one stock, i have about 20,000 bmn

LOL one tenth but i'm slowly catching up

i've cut a lot of my other stocks, most of my portfolio is BMN and DMX


----------



## Sean K (13 February 2007)

Halba said:
			
		

> yes i know ppl that make living trading on 1 company - their focus is on one
> 
> bmn is a pretty good one
> 
> i think valuing era at $44 is ridiculous, as BHp's olympic dam would then be worth $100bn under those assumptions



Thanks for putting this into some type of perspective Halba. Valuations will catch up with value at some point. It ´s still hard to see the true value of BMN without a JORC.


----------



## captjohn (13 February 2007)

ToHalba.....Before that May/June correction I had 15 junior miners.....nickel, copper,gold,oil etc.
I was going crazy trying to trade 'em to make a profit.....then they all went down during May.Also had C.F.D's on bluechips.

Anyway sold off at a loss &nearly stopped trading.... but  regrouped then put nearly all $$ into BMN during july to Oct....& kept my fingers crossed eversince. 
If you want to read F.N.Arena's article  about ERA  at $44... then let me know .
captjohn


----------



## gamerice (13 February 2007)

you all giving me a high now with all this positivity!
but i like it!

keep going, you beautiful thing!


----------



## Halba (13 February 2007)

captjohn- being nearly a subbie shareholder, any idea on these drill results, taking a while (due to assay labs delays)


----------



## Sean K (13 February 2007)

captjohn said:
			
		

> If you want to read F.N.Arena's article  about ERA  at $44... then let me know .
> captjohn



 You can copy the article and post it here John. I have in the past.


----------



## the barry (13 February 2007)

I just sold out my parcel of acb and will pick up some more banenrman today. Pretty exciting results from acb and with bannerman having tennements next door the future bodes well.


----------



## captjohn (13 February 2007)

I emailed Peter Batten (M.D.)last week & requested that the Bannerman website be modified to automatically advise shareholders by email immediately after an announcement is made. (Similar to Cazaly resources website.)
Staff at BMN cannot 'leak' when drilling results are coming out..you should know that is 'insider trading' .....
However BMN  chart price  today is hovering just below where the MACD is about to cross on upwards momentum again....
I think  SP will stay around $2.65-$2.90 until drilling results warrant an upgrade to take SP over  the $3 resistance barrier to  maybe $3.50-$3.75.
 U3O8 spot price may rise to $81 next week ....but even that should not increase BMN to over  $3 .
Over here in Perth there is always someone that knows some one that's the friend of someone that works for these mining companies ....rumours spread around Perth pretty quickly.
captjohn


----------



## Halba (13 February 2007)

yep i guess just a waiting game

in the meantime we can accummulate more bmn, theres just no downside with all the u hype and it will be well supported with all those juicy historical (and now confirmed) drills


----------



## chris1983 (13 February 2007)

Hey Captjohn. I'm In Perth also..and thats why im on ERN.  I dont know anyone who knows the guys on the board of Bannerman though.

Hey they are updating the website at this very moment


----------



## Halba (13 February 2007)

hmmmmm

just dumped another one of my zinc stocks, man bmn is the only stok going to be left soon

diversification is patheticcccc


----------



## chris1983 (13 February 2007)

How many stocks do you own now?

I only own 5 stocks.

BMN/ERN/AOE/INL/AGM.

with INL and AGM only with small holdings.  I don't diversify much either..but I do a bit..just in case one of them ever got hit hard.


----------



## captjohn (13 February 2007)

the barry said:
			
		

> I just sold out my parcel of acb and will pick up some more banenrman today. Pretty exciting results from acb and with bannerman having tennements next door the future bodes well.




Good on ya........ACB up 30% today on drilling results & you say they are near BMN....... all positive stuff for all of us.
captjohn


----------



## LifeisShort (13 February 2007)

Perhaps one of us is Batten himself and egging the co on.

Or perhaps one of us might be closer to the company then anyone knows.....

Or perhaps we are all deluded and love a gamble. Go BMN go


----------



## Halba (13 February 2007)

nup most of us appear just to be genuine punters

management don't spend their time on forums- they are busy in afrika

don't have enuff capital$$ for pdn or era, so have to settle for bmn  :


chris: got a few others like ZFX, AGS, SMM, DMX, AVX mainly. but the rest of my holdings are small not worth talking about, even ERN i hold 11,000 or so. I have ure AGM as well but again a small holding. didn't expect it to double but hey i'll take it


----------



## chris1983 (13 February 2007)

haha damn..you figured it out LIS..Ive just been pumping up my own stock  I just went for a walk in northbridge LIS..bit warm out..but its pretty nice..back to work now..yay. *checks my shares*

I like the look of the new website.  I cant wait for results..its going to be fun clicking refresh all day.


----------



## chris1983 (13 February 2007)

Halba said:
			
		

> even ERN i hold 11,000 or so.




I have a lot of ERN so its fair to say I hope they get the fifth license.  Anyway I'm not worried.  Even if all my other 4 stocks went broke I would have Bannerman to pull me up.


----------



## Halba (13 February 2007)

chris u seem on the ball anyway

agm is a good one

i have dumped my INL holdings, i don't think they'll be profitable


----------



## chris1983 (13 February 2007)

Halba said:
			
		

> chris u seem on the ball anyway
> 
> agm is a good one
> 
> i have dumped my INL holdings, i don't think they'll be profitable




They havnt done much have they.  Im pretty far in front with them and only hold 20k so its not that many.  Just going to see how they progress their operations.  I like the technology they have.

BMN are in a great position..the Goanikontes deposit is going to be impressive..all of the estimations and assumptions we have all worked out say it will be!   They know they have something pretty big over there.  Nathan McMahon wouldn't put that much into the company without feeling confident of something big.

They probably allready know what they have.  ERN are more risky being at an earlier stage but if your going to have a play on a very speculative uranium stock atm it would have to be them.  Just look at the other explorers around them in Namibia and look at their market caps.

oh well..another trading day over.


----------



## mmmmining (13 February 2007)

It seems that I missed out all the action. I went out doing some shopping for my misses. I guess you guys have not forgot what day is tomorrow. I left my computer, BMN is $2.72, come back it is $2.65. I thought everyone is pumped up, and I am expecting the closing price is $3 at least.  What is going on?


----------



## aobed (13 February 2007)

mmmmining said:
			
		

> It seems that I missed out all the action. I went out doing some shopping for my misses. I guess you guys have not forgot what day is tomorrow. I left my computer, BMN is $2.72, come back it is $2.65. I thought everyone is pumped up, and I am expecting the closing price is $3 at least.  What is going on?




What are you implying?  Is something significant happening tomorrow?


----------



## Joe Blow (13 February 2007)

aobed said:
			
		

> What are you implying?  Is something significant happening tomorrow?




Yes, Valentine's day!


----------



## aobed (13 February 2007)

chris1983 said:
			
		

> How many stocks do you own now?
> 
> I only own 5 stocks.
> 
> ...




What sort of a percentage breakdown do you have been BMN and ERN?  i.e. 40%/60%?  I'm curious.. I'm quite heavily geared towards BMN.. about 60%


----------



## aobed (13 February 2007)

Joe Blow said:
			
		

> Yes, Valentine's day!




aaahhh .

Well for all our sakes, hopefully BMN will go through the roof so we can afford roses and chocolates!


----------



## chris1983 (13 February 2007)

aobed said:
			
		

> What sort of a percentage breakdown do you have been BMN and ERN?  i.e. 40%/60%?  I'm curious.. I'm quite heavily geared towards BMN.. about 60%




Spot on.  If I break it down between the two stocks its 60/40 leaning towards Bannerman.  They are large holdings for me.  

BMN/ERN/AOE are the largest holdings..BMN and AOE are pretty close but BMN is worth more atm.

yeah..valentines day..im prepared for that.  Guys you better go get your ladies some flowers..otherwise your in trouble.


----------



## LifeisShort (13 February 2007)

chris1983 said:
			
		

> Spot on.  If I break it down between the two stocks its 60/40 leaning towards Bannerman.  They are large holdings for me.
> 
> BMN/ERN/AOE are the largest holdings..BMN and AOE are pretty close but BMN is worth more atm.
> 
> yeah..valentines day..im prepared for that.  Guys you better go get your ladies some flowers..otherwise your in trouble.




I have an extremely close relationship......with BMN (would u be my valentine?).....we love each other very much.......she takes me on roller coaster rides and I in turn reciprocate by talking about her in positive way and believing that she'll get better with age. BMN loves that.....


----------



## mmmmining (13 February 2007)

We need love, a lot of love to make money. Try to change the position of love and money. Oops, something is not right???


----------



## captjohn (13 February 2007)

aobed said:
			
		

> aaahhh .
> 
> Well for all our sakes, hopefully BMN will go through the roof so we can afford roses and chocolates!




Nice thought.........but so far  for nearly 12 months  BMN is like the perfect share with the perfect chart ....

I am a teckie & follow the chart indicators very closely on Metastock & Powertrade.
A 'share 'has four stages in its life.....It(BMN) is at stage two ...ie trending both long & mid term.& after( short term) trending higher every 6 to eight weeks ;  she (BMN) will tread water to wait for the moving averages to catch up. This is how it has to be to allow the brokers to' sell short'  back down to the 'moving averages'.

Rather than a jump or spike of 30-40 % ... from a 'great discovery'.....I , personally would rather have good news at a steady  slower rate of say, once every 2  months.
This keeps the SP  closer to the 30 day moving average at the classic ' perfect'.....45 degree angle.

Day traders & short term investor /traders  are happy when everybody is in agreement to let it trend up to a higher level.
Anyway I've rambled on enough for now.....& interested to hear any comments .

captjohn


----------



## captjohn (14 February 2007)

Fat Prophets has written a review today for BMN & it's all great stuff.........highest recommendation for it's location,prospects ,upside ......etc.

quote from article;
"Bannerman Resources represents the most prospective uranium exploration play that we have seen."

Most of the report was 'pasted' from the quarterly activities report ,so it's not new info to most of you that follow it  closely.
 None the less, the more I read it ,the more I am convinced that BMN will  certainly follow PDN into a producing mine in the  future.(Well ahead of Marathon for example).
The world is desperate to secure supplies so management will 'fast track' everything to get into production.

As you know I now have"most of my eggs in one BMN basket " after selliing of 15 junior speckies last june.
(oil,gold,copper,zinc etc.)
 Question?.... Chris 1983 referred to Nathan Mc mahon getting nearly 6 million shares in BMN.....excuse my ignorance but who is he ??
And I still think we need an announcement to take the SP over $3.....but don't fret!!....the closer the Bol Bands get together the bigger the jump up!!  
 captjohn


----------



## the barry (14 February 2007)

captjohn said:
			
		

> Fat Prophets has written a review today for BMN & it's all great stuff.........highest recommendation for it's location,prospects ,upside ......etc.
> 
> quote from article;
> "Bannerman Resources represents the most prospective uranium exploration play that we have seen."
> ...




Nathan Mcmahon is a director of cazaly resources, why this is interesting is that one of his fellow directors on the cazaly board is also a director of bannermans. He bought 15 million dollars worth at 2.70, which equates to 7 percent of the company.


----------



## LifeisShort (14 February 2007)

the barry said:
			
		

> nathan mcmahon is a director of cazaly resources, why this is interesting is that one of his fellow directors on the cazaly board is also a director of bannermans. He bought 15 million dollars worth at 2.70, which equates to 7 percent of the company.




I reckon collectively us BMN forum members hold about 10%......we have the power!!!! I wish


----------



## Halba (14 February 2007)

looks like a lot of bmn holders here, good to see. 

just needs to be more proactively managed, like juicy drill results every day i wish!!

:


----------



## captjohn (14 February 2007)

Thankyou gentlemen, for your prompt response & now the penny has dropped........and yes I remember Chris 1983's comments ......"why is he buying in .....SP will take off" etc.

 Nathan Mc mahan has paid full current price & you can bet your bottom dollar  that all these boys that lunch together in West Perth  know full well that this is just the 'beginning'  for BMN.
Mark my words ... I predict by Xmas...PDN will be $20 & BMN $8-10 ....even with a correction soon !
captjohn


----------



## bliimp (15 February 2007)

Interesting article coming out of Namibia regarding the issuing of licenses.

Refer to http://allafrica.com/stories/200702140503.html

The essence of the article is as follows :-

"AS applications pour into Namibia from companies intending to prospect for uranium, the Ministry of Mines and Energy has stopped accepting such requests.

It will soon announce a moratorium in the Government Gazette.
The Namibian has it on good authority that the Ministry stopped accepting applications for uranium prospecting and exploration two months ago.

This comes hot on the heels of a similar moratorium slapped on the granting of diamond cutting and polishing licences by the same Ministry early this month ...

In the last two years, Namibia has become a global attraction because of its mineral deposits hugely in demand on international markets, like uranium and diamonds.

In an interview with The Namibian yesterday, the Permanent Secretary of Mines and Energy, Joseph Iita, confirmed that no applications were currently being accepted, adding that more would soon be revealed in the Government Gazette.

"It's a matter of regulating the issue of licences.
Everyone is running to Namibia for uranium and we don't want every Jack and Jill mining uranium ...," he said."




Question? ... Are all existing Namibian miners (PDN etc) and explorers (BMN,  ERN etc) now part of an "exclusive club" ....


----------



## the barry (15 February 2007)

bliimp said:
			
		

> Interesting article coming out of Namibia regarding the issuing of licenses.
> 
> Refer to http://allafrica.com/stories/200702140503.html
> 
> ...





Has ern been issued its licence yet? If so it would probably be worth a punt.


----------



## chris1983 (15 February 2007)

the barry said:
			
		

> Has ern been issued its licence yet? If so it would probably be worth a punt.




They have 4.  I have always believed the erongo mountains epl's are the best ones.  They have two in the erongo mountains and 2 in the spitskoppe region.  The 5th would of been great and they still may get it but not right now it would seem.  There is an erongo thread barry you should check it out.  They wont just stop granting licenses.  They might make the process harder I don't know and the article states they aren't accepting any new applications which would obviously mean they wont be granting any of the pending ones also untill they do their "reviews".

So it would seem no new companies will be entering Namibia for exploration purposes anytime soon.  Doesn't have any affect on BMN.  Comes off a positive I would think because they have no problems with their licenses.  It closes the door on any new prospective explorers though.


----------



## gamerice (15 February 2007)

guys, any pick on when we will have the next announcement?

i am starting to fidget...


----------



## the barry (15 February 2007)

Announcement is out, hope its good!!!!


----------



## LifeisShort (15 February 2007)

the barry said:
			
		

> Announcement is out, hope its good!!!!




Holy Moly......this is good stuff.......124m @ 360eppm........how about that.....keep em coming


----------



## chris1983 (15 February 2007)

LifeisShort said:
			
		

> Holy Moly......this is good stuff.......124m @ 360eppm........how about that.....keep em coming




awsome


----------



## the barry (15 February 2007)

chris1983 said:
			
		

> awsome




Any ideas on what it will do for the share price, anyone think that if it soars that mcmahon might get a knock on his door???


----------



## LifeisShort (15 February 2007)

the barry said:
			
		

> Any ideas on what it will do for the share price, anyone think that if it soars that mcmahon might get a knock on his door???




SP can do one of three things, go up, go down or be steady

really no one knows........if we look back at last time results came out then it went down afetr an initial spike.....but recovered within a week to go higher.....it might do the same it might be completely different. I'm holding


----------



## chris1983 (15 February 2007)

I'm holding for sure.  All those guys can sell for their 10/15 cent profit.  This is going to go a lot further.


----------



## Halba (15 February 2007)

share price is going down on this. who the heck is selling on these results?


125m hits cmon


----------



## Caliente (15 February 2007)

wow. this is quality news! 

In the directors words;

"Potential ore grade intercepts have been received from all of the first three holes including;
54.75m @ 306 eppm, 26.5m @ 340 eppm and 26.2 m @ 289 eppm U3O8 highlighting the
enormous potential for the prospect."

Good to see that results will now start flowing through regularly as the lab in Jo'burg have their act together/.

Once again the classic BMN sell down before the storm/.
Sit tight - this is going to be fun  

edit - I forgot about the biggest intersection of all >>> 124m @ 360 eppm U3O8. People  selling obviously don't realise just how massive a confirmed intersection like this is.

Replication of these kinds of results over the next weeks will send the SP hurtling/. To where - is anybodys guess.


----------



## chris1983 (15 February 2007)

yeah definately a sell down with profit takers jumping in.  I'm very happy with the results though.  Makes me feel good knowing I can just leave them there.  I should try to wipe it from my mind that I even own BMN so that I don't touch them for a good 3/4 years.


----------



## chris1983 (15 February 2007)

Well looking at the sp action its good they announced an extremely positive message otherwise they would of got spanked hard.  BMN are different from other stocks..there isnt much talk on other forums.  Aussiestockforums is the most active forum on this stock and we also post on some of the other forums.  I think we must be the only share holders.


----------



## Halba (15 February 2007)

i have an order @ 2.70 plz fill me

my old man's gonna be happy i bought some for him a couple of days ago for his 59th birthday


----------



## LifeisShort (15 February 2007)

Has someone got access to Fat Prophets? I'd like to see their latest update on BMN.


----------



## captjohn (15 February 2007)

I'm a member of FatProphets...gimme your email & I'll send a.s.a.p........

  it's not a co-oincidence  Mc Mahon  buys in 7 % ....Fat Prophets review yesterday & this A.M.    a company announcement......Hmmmmm.....

Anyway who cares.....but I  still reckon  SP wont go over $ 3   until Carmichael  revalue the share....this is more or less just confirming historic drilling ......so be patient ladies & gentlemen......I sold  heaps of CBH  10 minutes ago at 15 % loss  to buy more BMN at 2.80..... in 3 months it'll be $3.50 plus for sure.

captjohn


----------



## Halba (15 February 2007)

Hi i bought more bmn just then

What a joke did anyone see the updated map on the last page. Thats some big strike! Also they are adding more rigs. This is about 5-10 times bigger resource than paladin.


----------



## chris1983 (15 February 2007)

Dont worry Halba..the rise will come.


----------



## Halba (15 February 2007)

yep last time it went from $2 to about 1.70s(i topped up in the melee)


----------



## angela200172 (15 February 2007)

chris1983 said:
			
		

> Well looking at the sp action its good they announced an extremely positive message otherwise they would of got spanked hard.  BMN are different from other stocks..there isnt much talk on other forums.  Aussiestockforums is the most active forum on this stock and we also post on some of the other forums.  I think we must be the only share holders.




chris1983
I am very happy of the nice news, I have BMN at $2.68, I will hold sp up to $4.00, thanks.


----------



## captjohn (15 February 2007)

Halba said:
			
		

> share price is going down on this. who the heck is selling on these results?
> 
> 
> 125m hits cmon




The brokers & day traders have been selling BMN 'short' for nearly 3 weeks...ie since the  MACD crossed below it's signal......
Presently they are changing from 'short'  to 'long' positions  as the MACD crosses on the way up ....that's why volume is quite high...our little 'top ups' are just a drop in the bucket.

I just phoned D.J.Carmichaels (brokers & Analysts  that did the original valuation)   ..... & asked if they are looking at revaluing BMN higher than $3......I'll keep you all advised.

captjohn


----------



## Kauri (15 February 2007)

captjohn said:
			
		

> The brokers & day traders have been *selling BMN 'short'* for nearly 3 weeks...ie since the MACD crossed below it's signal......
> Presently they are *changing from 'short' to 'long' positions* as the MACD crosses on the way up ....that's why volume is quite high...our little 'top ups' are just a drop in the bucket.
> 
> I just phoned D.J.Carmichaels (brokers & Analysts that did the original valuation) ..... & asked if they are looking at revaluing BMN higher than $3......I'll keep you all advised.
> ...




Who can you get shorts with on BMN???


----------



## the barry (15 February 2007)

Just bought my last batch of bannermans, am now very content just to sit back and watch this one. Am stoked i topped up twice on the correction last couple of weeks and will now sit back and enjoy the ride.


----------



## gamerice (15 February 2007)

Can't believe still ppl wants to sell 80k @ 2.80 and below...
Don't know what they are thinking... these hits are huge!? aren't they...

When have you heard of this before? and not to mention BMN is situated in an extremely U friend environment...

Big players may very well be interested in taking over BMN now, with these confirmed drill results...


----------



## Halba (15 February 2007)

yep ppl continue to sell, it'll be lucky to end up in the green after those

absolute silliness! yet the mkt pays 20-25x multiples for the likes of LEI and WOR, MND!


----------



## chris1983 (15 February 2007)

angela200172 said:
			
		

> chris1983
> I am very happy of the nice news, I have BMN at $2.68, I will hold sp up to $4.00, thanks.





Hey Angela I think you got a good price.  Its ashame its dropping back but that will only be short lived.  The results are great showing excellent potential for the future drilling.


----------



## Halba (15 February 2007)

chris, and all other bmn faithfuls:

From another forum
sankhara

"I think the feeling is that BMN is overpriced - 200 mill cap for an explorer - plus the run up has been long and hard so people are deciding to take profits - sell into strength."

do ppl have a clue?


----------



## chris1983 (15 February 2007)

Halba said:
			
		

> chris, and all other bmn faithfuls:
> 
> From another forum
> sankhara
> ...





People fail to realise the potential size of this resource.  Its shaping up to be pretty big.  We just have to wait.  I can't predict the future but I think future drilling results are going to remain good for quite some time.


----------



## captjohn (15 February 2007)

Halba said:
			
		

> chris, and all other bmn faithfuls:
> 
> From another forum
> sankhara
> ...



Yes Halba, I am inclined to agree with you.......BMN has had a big run up ......& I reckon it's time to consolidate for a while yet....unless D.J.Carmichaels revalue the share price( presently at $3.)...which is quite high for an explorer  as you said...
captjohn


----------



## UraniumLover (15 February 2007)

captjohn said:
			
		

> Yes Halba, I am inclined to agree with you.......BMN has had a big run up ......& I reckon it's time to consolidate for a while yet....unless D.J.Carmichaels revalue the share price( presently at $3.)...which is quite high for an explorer  as you said...
> captjohn





I agree .. People have lost it .
If you look at Tolhurst Noall research paper on BMN website and look at the relative market premium and  discount figure from IPRESS as at 28 Nov 2006  and update the graph  it's one of the cheapest in the u sector . Even MTN , with it's recent great run seems more expensive. when you take into account location and directors mate buying huge amounts at 2.70 you would be silly to sell and not buy more as it's going up from a small correction. With drilling results just posted this is very bullish. i just bought more. Not sure why you would sell


----------



## captjohn (15 February 2007)

chris1983 said:
			
		

> People fail to realise the potential size of this resource.  Its shaping up to be pretty big.  We just have to wait.  I can't predict the future but I think future drilling results are going to remain good for quite some time.




I agree with chris too,.... but remember every mining exploration hopeful out there is trying to exaggerate their potential everyday on the ASX to suck in the 'bunnies'  !

I remember a gold mine owner north of Kalgoorlie ... using a 12 guage shotgun with shells full of gold dust & shooting it into the walls of his mine .

The assay went thru the roof etc....he sold millions of his 10 cent shares for a dollar.Hahaha!!
So who wants to go to Namibia to see if BMN really have an office there??

Seriously tho'.....the media & analysts need to say in the press ....that BMN  is the new PDN  & probably bigger  etc etc ......then a new bunch of fresh money will enter again....
captjohn


----------



## chris1983 (15 February 2007)

wow its in the red now.  Can't believe it.

BMN have never exaggerated anything though so I think we are pretty safe.


----------



## mmmmining (15 February 2007)

Hi, all BMN faithfuls,

Why be so agonized? If you firmly believe BMN worth a lot more, you should be happen with the drilling results. And laugh at people selling at current price, or buy more. 

Who cares about up or down 10c, 20c, or even 30c. You know the current price is well below your ultimate target.

Unless you have your own little agenda, trading BMN. You want to get out at certain price target in near term. IMHO, very dangerous play for a stock with such a good trend... (not a chartist)

Cheers


----------



## chris1983 (15 February 2007)

yeah..mmmmmining..thats a good point.  I am extremely happy with the results..of course seeing the sp in the green with those kind of results would be nice and expected..but you should expect the unexpected   They won't stay down and should only look better as they continue to progress their operations.


----------



## mmmmining (15 February 2007)

The price retreat is normal after big ann. It happened before, two months ago? What happened afterwards? 

Another reason people are getting nervous because S&P200 is approaching 6000


----------



## Halba (15 February 2007)

OK GUYs. i topped up this again!


EV/lb looks better than MTN, and also the namibia factor


----------



## Joe Blow (15 February 2007)

Halba said:
			
		

> OK GUYs. i topped up this again!




Halba, this sort of post is really not necessary. Not only is it completely unverifiable but it serves absolutely no purpose. Edit: Okay, I see you added something to your original post but more would be nice.

I feel there may be a little too much ramping going on in this thread. Please only add posts to stock threads when you have something new or particularly interesting to contribute to the discussion.

Thanks!


----------



## chris1983 (15 February 2007)

Hey Joe can you point out the ramping.  Maybe Halba said he topped up..I didn't know that was ramping..but other than that no false messages have been posted and the Bannerman thread has stayed pretty quiet of late compared to other threads.  Results are out...we just want to discuss them and also the price action to go with it.


----------



## Joe Blow (15 February 2007)

chris1983 said:
			
		

> Hey Joe can you point out the ramping.  Maybe Halba said he topped up..I didn't know that was ramping..but other than that no false messages have been posted and the Bannerman thread has stayed pretty quiet of late compared to other threads.  Results are out...we just want to discuss them and also the price action to go with it.




Fair enough, it is a fine line between over exuberance and ramping. I've just noticed some fairly ambitious price targets being thrown around a few pages back ($10) and some posts like this:



> bought more bannerman today
> 
> i am putting money where my mouth is





> I am thinking of allocating further $$ from my fund into bannerman. Its simply a stock where you simply will never have enough of.




Just asking people to please keep it in perspective and try and maintain the high level of discussion. Not jumping on anyone.


----------



## chris1983 (15 February 2007)

That $10 thing is directed at me   Dont worry.  I wont post up assumptions etc anymore.  I'll just do my own workings and keep it to myself.  Oh yeah and LIS your PM box is full.


----------



## Halba (15 February 2007)

okay there is a widening valuation gap between BMN and SMM

SMM currently $750M mkt cap

BMN around $300M mkt cap


SMM- target is about 150m pounds in surrounds, risks in QLD. 

BMN - historical target is around 50,000t or 110m pounds ish, with blue sky in surrounds. Also is in mining favourable country whereas SMM is not. BMN owns 80% of its deposits, whereas SMM owns only 50% of Valhalla and Skal. 

is that better analysis.


----------



## Rafa (15 February 2007)

captjohn said:
			
		

> I remember a gold mine owner north of Kalgoorlie ... using a 12 guage shotgun with shells full of gold dust & shooting it into the walls of his mine .




hey, i saw that one on one of those CSI shows...
haha


Anyway, why is everyone so excited about a small share price fall or rise... If you are really in for the long term, who really cares what happens today... Unless the annoucement was bad!   

Are we all a bunch of amateurs... we all know prices fall when there is a good annoucement, big deal....

I tend to agree with Joe, a lot of recent posts haven't added any value.

I'm a long term holder, substantial quantity, but I am not gonna comment on this thread for every small movement in price... Otherwise, we are going to turn this thread into the type and quality of threads we see on the other stocks... pages and pages of nothing!


----------



## Joe Blow (15 February 2007)

Halba, yes that is fine.  Guys, maybe I over-reacted slightly, just didn't want to see this this thread become full of "topping up" and "accumulate now" posts. There is some quality analysis in this thread and I appreciate that, as I'm sure others do.

Anyway, please carry on.


----------



## Rafa (15 February 2007)

If anyone does want to see the charts, so far BMN is respecting the steeper trendline that began in mid dec.

The long term support line would see support around $2.20


----------



## mmmmining (15 February 2007)

Regarding the report, does anyone know the relative location of GARC006, 007 to GARC001? The map provided does not show that.

I guess the location is very important to us to figure it out how big the ore body is, and how further down is extended?


----------



## Halba (15 February 2007)

Hi mmming

Hole ID Collar Position
(m)
Downhole Depth (m) Interval
(m)
Uranium Grade
(U3O8)
North East From To Spectrometer Assay
eppm ppm
GARC001 7 488 700 482 280 89.28 95.93 6.65 215 Pending
“ “ 115.88 142.08 26.20 289 Pending
“ “ 165.43 191.93 26.50 340 Pending
GARC002 Hole blocked no spectrometer readings available yet. Pending
GARC003 Hole blocked no spectrometer readings available yet. Pending
GARC004 Hole blocked no spectrometer readings available yet. Pending
GARC005 Hole blocked no spectrometer readings available yet. Pending
GARC006 7 488 791 482405 8.45 16.35 7.90 520 Pending
“ “ 22.90 37.25 14.35 282 Pending
“ “ 72.45 80.30 7.85 558 Pending
“ “ 95.75 220.10 124.35 360 Pending
GARC007 7 488 785 482506 29.81 84.56 54.75 306 Pending

*************

GARC001 is 7 488 700 North, 482 280 east

006 is 7 488 791 North, 482405 EAST

007 7 488 785 N, 482506 EAST

006 is 120m or so further east. Also 91m difference North.

007 is another 100m east than 006

so overall over a few hundred metres we have good hits of uranium already

imho is a very large orebody, fair enuff the profit takers today

"The potential ore reserves have been
estimated to be several tens of millions of tones
with a low average ore grade (Mouillac et al.,
1986)."


----------



## mmmmining (15 February 2007)

Thank you Halba, I will my compass, and ruler.


----------



## jj0007 (15 February 2007)

The perception that BMN is expensive is fantastic for long term shareholders.  So long as that perception exists, it should keep the predators away.


----------



## champ2003 (15 February 2007)

jj0007 said:
			
		

> The perception that BMN is expensive is fantastic for long term shareholders.  So long as that perception exists, it should keep the predators away.




I think that you mean undervalued? If it's expensive then the share price should drop and thats only good for long term shareholders if they want to top up their holdings. If Its undervalued now thats fantastic for short and long termers.

Best regards

Champ


----------



## UraniumLover (15 February 2007)

mmmmining said:
			
		

> The price retreat is normal after big ann. It happened before, two months ago? What happened afterwards?
> 
> Another reason people are getting nervous because S&P200 is approaching 6000




Could someone please explain why a price retreat is normal after a big ann.
Like Mr Spot would say "humans are emotional illogical beings"


----------



## Sean K (16 February 2007)

UraniumLover said:
			
		

> Could someone please explain why a price retreat is normal after a big ann.
> Like Mr Spot would say "humans are emotional illogical beings"



'Buy the rumour and sell the fact', UL. Unless expected anns are incredibly outstanding, the sp can come under pressure. Happens pretty regularly.


----------



## jj0007 (16 February 2007)

champ2003 said:
			
		

> I think that you mean undervalued? If it's expensive then the share price should drop and thats only good for long term shareholders if they want to top up their holdings. If Its undervalued now thats fantastic for short and long termers.
> 
> Best regards
> 
> Champ





Nope.  I meant "overvalued".  Whilst the market holds that perception it will make potential predators think twice regarding takeover.   Don't worry about SP.  For this perception to hold true means the price will remain relatively "high".


----------



## Halba (16 February 2007)

its only 2 bucks for a rossing cmon


----------



## chris1983 (16 February 2007)

This is a message for the holders in BMN who have jumped in around 2.60-2.70.  All I can say is assess the announcements..nothing negative thus far..  Its up to you to make your own decision but a sell off similar to the one happening just over a week ago and some investors were also drawn to sell off shares they didnt really want to sell for stop loss reasons.  Trust me..there will be others waiting to soak up your shares.

All the best if you continue to hold.  I'm a long termer and nothing interesting atm so back to bed for me.  Grab those vital minutes before I have to go to work


----------



## the barry (16 February 2007)

chris1983 said:
			
		

> This is a message for the holders in BMN who have jumped in around 2.60-2.70.  All I can say is assess the announcements..nothing negative thus far..  Its up to you to make your own decision but a sell off similar to the one happening just over a week ago and some investors were also drawn to sell off shares they didnt really want to sell for stop loss reasons.  Trust me..there will be others waiting to soak up your shares.
> 
> All the best if you continue to hold.  I'm a long termer and nothing interesting atm so back to bed for me.  Grab those vital minutes before I have to go to work




I still have a 12- 18 month view on this stock. The reasons I hold and have this view is as follows:

1. The continuing rise in the spot price of uranium
2. A confirmed world class resource
3. An excellent drill program on a variaty of prospects. (am particullarily excited by the tennement next to A-cap)
4. Nathon Mcmahon - you dont make millions investing in stocks that go down


----------



## Reefer (16 February 2007)

Agree that fundamentals look good for BMN but it may be the market had already factored in all the information contained in the latest report and was a bit disappointed in the release.  Most of  the announcement was assay confirmation of previously released spectrometer results, and the only new holes were GOA0013 and GOA0014 which are 200 metres further north of GOA0012 and 100 meters apart. So the new holes increase the line of strike but the intervals were not as good as some of the previous holes and with GOA  13 were at a greater depth.  Hopefully as their report indicated results from further holes will be announced more regularly and soon with GOA0015, 16 and 17 already drilled.


----------



## the barry (16 February 2007)

Was just reading an interesting article stating that namibia has stopped issuing any uranium applications to companies prospecting for uraniumn over concerns of the end use of uranium mined. Does anyone think that this political uncertainty could have any negative short term impact on the stock???


----------



## chris1983 (16 February 2007)

nope.  They of course have to be responsible and review their process.  Namibia is heavily reliant on their mining activities.  Nothing will change.


----------



## Halba (16 February 2007)

doesn't that apply to people applying for u licenses? BMN already has license


reefer lets just wait till further holes before interpretation


----------



## LifeisShort (16 February 2007)

Halba said:
			
		

> doesn't that apply to people applying for u licenses? BMN already has license
> 
> 
> reefer lets just wait till further holes before interpretation




Yes although renewing licences could be another issue......if you already possess licences it might not be renewed if the government decides so due to whatever reasons....of course they would have to come up with some sort of reason but you just never know with African countries (although Namibia is as stable as they come in Africa). I mean if you look at Bannerman history they were awarded numerous licences back in 2005 before the government stripped them of it because BMN were naughty (of course they repplied/appealed and got a couple of them back.......they had many more). I hope they are in full compliance with the Namibian law and are friends of theirs.


----------



## mmmmining (16 February 2007)

Namibia is not some socialist craps from South America. There is no reason to worry about any existing license. If  you are credible explorer, spending money, want to mine, and pay taxes, you should be good. They are more like capitalist.


----------



## chris1983 (16 February 2007)

mmmmining said:
			
		

> Namibia is not some socialist craps from South America. There is no reason to worry about any existing license. If  you are credible explorer, spending money, want to mine, and pay taxes, you should be good. They are more like capitalist.




I agree.  There are no worries.  Maybe this is why some of the sell off has happened?  Who knows.  You should be worried if you own uranium explorers in Australia.  They are the ones being held back.  The share prices are still rocketing though.  Now thats a worry IMO.

Bannerman were granted their licenses on the 27/04/2006 and they have them untill the 26/04/2009.  Mid 2009 is a long way away.  No need to worry about the EPL's.  They followed all the necessary environmental procedures and never stepped on anyones toes otherwise the liceses wouldnt have been granted.  Things are looking great IMO.  Some consolidation has occured..getting ready for the next leg up now.


----------



## Halba (17 February 2007)

in the words of a wise person on another forum

"it was low grade, the grade is marginal"

ppl don't know too much do they?


----------



## chris1983 (17 February 2007)

Nope Halba.  Its very economical and at surface to very good depths.  Open cut mine which isn't as expensive as other mines to get off the ground.  Cheaper labor over there.  Investors will see the potential.  Wait untill they start expanding the resource..it's going to be interesting to see where the SP goes once they confirm an expansion of the resource from anomoly A which is surrounding the Goanikontes Dome.  They are drilling heavily atm and I think are finally getting everything together sourcing more drillrigs etc so they will procede their drilling program a lot better this year.


----------



## Halba (17 February 2007)

yes chris i'm going to suggest to BMN to consider a separate listing on the TSX. The valuations, and knowledge of Canadians on uranium are much more superior IMHO. comments like this on BMN re: low grade enforce Australian's poor general knowledge of uranium mining and lack of appreciation of uranium. 

Mirabela Nickel, based in Brazil, is listing in the TSX. Their market cap keeps increasing. But nothing beats a pure uranium play.


----------



## captjohn (17 February 2007)

Todays 'West Australian' has a  full page article about Paladins rise to success. 

1 cent to $10 in 4 years.....great story about john borshoff..well written!

This I believe will pave the way for us BMN investors, to follow Paladin up, up & away into the 'blue sky'.

Later this year when drilling  finally confirms just what the actual resource size is & average grade etc....& of course conforms to JORC requirements....

Chris 1983 is great at calculating out all the results ahead of time & estimating size & I, for one, hope he is right.

When size is finally confirmed BMN will get the publicity from the media & bring with it hoards of fresh investors.
In between time the SP should keep rising .....but maybe not as fast as the last 6 months.

We could have a corrections starting as I type this ....  & if so, could spike SP down to support at around $2.20-ish!....as per RAFAS graphs last week.

Personally, I'm out of investment $$ so will just accept the correction as part of the cycle of the 'life of a share'.

Again who cares, fundamentals are all positive so it'll bounce up quick smart.....
captjohn


----------



## Halba (17 February 2007)

new article

http://news.ninemsn.com.au/article.aspx?id=81233

greenhouse gases serious issue - an important structural shift, a main cause of uranium spike IMHO


----------



## itchy (17 February 2007)

halba,

why are u so concerned with australias lack of uranium knowledge?
surley it is great that BMN are not shootin through the roof at the moment, given u believe them to be a good company and all, it is  agreat opportunity to buy up!
im sure time will tell and all those pessimists will eat their words, in the meantime eat up as many as u can i say!

cheers 
wookie


----------



## chris1983 (17 February 2007)

captjohn said:
			
		

> Chris 1983 is great at calculating out all the results ahead of time & estimating size & I, for one, hope he is right.




Hi captjohn I hope I am right also.  I did take profits along the way though. I'm still left with a nice holding that is being free carried so If the calculations are right which is all based off assumptions we will have huge grins on our faces in a couple of years time.  Its still very early stages right now.  The next set of drilling results will be a big test especially if they are drilling into an area where they know historical drilling hasn't occured.  I think the future drilling results will continue to be positive because all they are doing is re-drilling the historical area atm to determine a resource and bring it to JORC standards.  The good thing what they are proving though is the depth extensions on the historic resource. Below is cut out from their recent announcement.

_"Additionally the results prove that potentially economic mineralisation extends at depth below the level of the historic drilling."_

Its fair to say Bannerman are in an area that is known for having these type of deposits which are at depth with the rossing deposit and they have proven the possibilites of having a resource at extensive depths from the surface with their recent results.  Everythings looking sweet.


----------



## captjohn (19 February 2007)

Hmmmmm !!........Stocks on my uranium watchlist......

ERA, PDN, SMM, MTN , all up  4  to 8 % today...
Ol' BMN is still just treading water.

Not sure what's happening.....Bol. bands are closing  & moving averages are getting back together....(consolidating)
I still think it needs to be re-rated by d.j. carmichael's above $3
captjohn


----------



## Rafa (19 February 2007)

treading water is the appropriate word, 
but there is plenty of time for this stock to catch up...

i have not detected any change in overall trend...  yet...!


----------



## Halba (19 February 2007)

this stock is much bigger than that carmichael broker

with out without their reccos



I have a sheeetload of SMM as well, 15% of my fund, thats a lot of one stock so can't complain go smm


----------



## chris1983 (20 February 2007)

I wonder if the infamous upwards movement is on the cards..now that we have had the reasonable retrace after a good announcement. hmm.  Its definately still holding that upper trendline like Rafa has said earlier.


----------



## captjohn (20 February 2007)

On FN Arena has advised there is an 'Auction' of 100,000 pounds of U  happening later today in the U.S.
Analysts are expecting $80 plus per pound.
Anyone wanting article.... let me know

captjohn


----------



## Halba (20 February 2007)

Forsys metals broke $550M mkt cap on canada last night..Uramin is over 1.2billion CAD dollars...forsys reserves only 30,000t @ 200ppm??

Cmon bannerman, if this was a seamless mkt it will start putting on heaps when it gets those jorc estimates finalised


----------



## sydney1963 (20 February 2007)

Halba said:
			
		

> Forsys metals broke $550M mkt cap on canada last night..Uramin is over 1.2billion CAD dollars...forsys reserves only 30,000t @ 200ppm??
> 
> Cmon bannerman, if this was a seamless mkt it will start putting on heaps when it gets those jorc estimates finalised



I think Forsys code is *FSY *  for *TSX.*


----------



## Halba (20 February 2007)

yes FSY. also UMN = uramin


----------



## captjohn (20 February 2007)

Halba said:
			
		

> yes FSY. also UMN = uramin




Looks like one of these will be the next mine in Namibia...
& Paladin's success will keep the spotlight on them ....& of course BMN  as well in due course......

I thought FSY has quite a bit more U3o8 than that HALBA...nevertheless it's great to see them all going up

captjohn


----------



## Halba (20 February 2007)

Valencia Inferred Resources/Technical Report
Cut-off
 Tonnes
 Grade
 Calculated Pounds

(U3O8 kg/t)
 (millions)
 (kg/t)
 (%)
 U3O8

0.10
 117
 0.16
 0.016
*41.1 million pounds*

0.15
 49
 0.20
 0.020
 21.6 million

0.17
 32
 0.22
 0.022
 15.5 million*

0.20
 18
 0.25
 0.025
 9.9 million


FSY trading at $616MAUD/41 m pounds = $15 AUD a pound


----------



## sydney1963 (20 February 2007)

Halba said:
			
		

> Valencia Inferred Resources/Technical Report
> Cut-off
> Tonnes
> Grade
> ...



As I remember,BMN [AU$3/IB],AGS [AU$15/IB],MTN [AU$3/IB]


----------



## sydney1963 (20 February 2007)

What about EXT,who much worth the IB of U3O8 according to thier 
reserve ,market cap 100 million,44 million pound of U.


----------



## Halba (20 February 2007)

ext doesn't have any resource

bmn is prolly another rossing- 60,000t u308 , 130mil pounds or so. Thats <$3 a pound in a country which can produce. It will be a 10 billion company if they can prove it all up


----------



## chris1983 (20 February 2007)

Its all going to take time.  Atleast we know a heavy drilling campaign is in place atm.  It would be nice of course seeing BMN fly through the roof but maybe it was just that time to consolidate for awhile.  We got it flying through the roof all last year and its run didn't even really start untill mid april last year.

When it runs it will run hard.


----------



## Halba (20 February 2007)

just gives us all a chance to top up, for the next leg up


----------



## Sean K (20 February 2007)

Halba said:
			
		

> just gives us all a chance to top up, for the next leg up



Looks like nice healthy consolidation to me, taking it's turn while some other have a run.

I am still VERY cautious about when fair value is going to catch up with all these however. Hard to say, when we don't have a JORC yet....


----------



## the barry (20 February 2007)

kennas said:
			
		

> Looks like nice healthy consolidation to me, taking it's turn while some other have a run.
> 
> I am still VERY cautious about when fair value is going to catch up with all these however. Hard to say, when we don't have a JORC yet....




It is impossible to judge what fair value is at present. I dont think it will be possible to determine until the spot price of uranium levels out, and this won't happen until the demand of uranium is worked out. The uranium bubble could run for years to come.


----------



## Sean K (20 February 2007)

the barry said:
			
		

> It is impossible to judge what fair value is at present. I dont think it will be possible to determine until the spot price of uranium levels out, and this won't happen until the demand of uranium is worked out. The uranium bubble could run for years to come.



I agree to some extent Barry. There are many factors at play. The first thing some of these explorers need to sort out however is their resource and then get a BFS done so we may perhaps see what value is really there. By that time of course, you may have missed the U boat......Hopefully BMN can get themselves sorted in time to get on it. Or, perhaps, punters just play this as a trading stock and ride it while it lasts. It's been an outstanding pick the past year or so.


----------



## chris1983 (20 February 2007)

kennas said:
			
		

> Looks like nice healthy consolidation to me, taking it's turn while some other have a run.
> 
> I am still VERY cautious about when fair value is going to catch up with all these however. Hard to say, when we don't have a JORC yet....




Your definately right Kennas..there is no JORC yet so some investors would show some caution.  The initial JORC will come out some time this year which should attract more investors.  Some investors wont even look at a stock untill it has a JORC compliant resource. The initial JORC will be based off the historic drilling area.  How large is the historic drilling area?  Its at an avg of 300ppm and it was to about 60 meters depth am I right?  In the recent drilling they confirmed depth extensions.  Who wants to have a go at the initial JORC based off Historic drilling?  I'll have a go later when I'm bored.  At work atm.

I think uranium wont slow down any time soon though.  Energy is needed and nuclear power seems to be the way to go atm.  Demand is only going to continue in the coming years.  I remember reading all the new nuclear reactors being built in the world.  Theres a lot.


----------



## Halba (20 February 2007)

limiting yourself to an initial jorc would be a mistake.....

Buying after a BFS is complete, i'll sell it to you for $15 then kennas


----------



## Sean K (20 February 2007)

Halba said:
			
		

> limiting yourself to an initial jorc would be a mistake.....
> 
> Buying after a BFS is complete, i'll sell it to you for $15 then kennas



Sold!!! LOL.

You are right though. As I said, by the BFS stage the really big gains on the U boat may have been missed for the average punter. We must all look at ourselves as punters to some extent with explorers of any type. Maybe educated punters...


----------



## Halba (20 February 2007)

its ok kennas. considering the potential EV $3/lb bmn is still good price here. Compare to uranium price it is $80/lb. Not to mention there is a lot of exploration potential. 

Also its in namibia you must consider it is very cheap capital/operating cost and rapid to production in that country. it will take years in australia.

In australia you need to do go through govt approvals, native title, Public review process(6 months) & Environmental impact statement, Costlier construction/over engineering to minmise harm, landowner agreements, also potential opposition is there also.

Once it produces it will be just like Rossing or Paladin. If JORC end this yr, BFS next year, Construction end 2008, production is in 2009.

I am nearly up to my target of 100,000 BMN. its nearly 1/5 of my fund now.


----------



## captjohn (20 February 2007)

Good on ya Chris 1983,

Im a new 'member' & can tell already you're a clever young man ,Chris... & that you can work out BMN's U3o8 values.
If your estimate is within ,say,10% of the JORC...then as a 'prize'...I'll   shout you & partner out to restaurant of your choice, here in Perth.
You too Halba are included ,or anybody else for that matter...  Halba is quick with statistics & estimates....

And Yes,....now depth extensions are very important in your calculations.....& Halba sums it all up ....

BMN is(more or less) another Rossing presently only at $3 a pound & once it's confirmed by the year's end......the second wave investors will be pushing it up.....$5,   6, 7, 8....who knows .....
Personally I'll be quite happy if SP doubles by Xmas...  coz   BHP or RIO won't !!

In between time I love reading all your opinions & comments....it's added a new dimension to investing in BMN....otherwise watching my watchlist can become boring !!
captjohn


----------



## chris1983 (20 February 2007)

hahaha. 

oo restaurant of my choice...that may get costly.   If BMN continue to rocket and we are all still holding we should go have a few beers to celebrate.  Looking at the watchlist is definately boring atm.  No movement is happening. Thats the way it goes..just have to be patient untill we receive the rest of the results they are waiting on.  It will be interesting to see if they hit anything within the elpse channel during the first phase of drilling.  That would be huge if they did hit something in there.  Paladin would be watching like a hawk.


----------



## the barry (20 February 2007)

Halba said:
			
		

> its ok kennas. considering the potential EV $3/lb bmn is still good price here. Compare to uranium price it is $80/lb. Not to mention there is a lot of exploration potential.
> 
> Also its in namibia you must consider it is very cheap capital/operating cost and rapid to production in that country. it will take years in australia.
> 
> ...




I have reached my target, only half the amount that you hold, but still a sizey holding. Was going to hold off buying more but the more research i do the more confident i am. Have a sizeable holding in gpn and its options and if they come off tomorrow as well as my seven options i will increase my holdings.


----------



## Halba (20 February 2007)

i got a few CFD trades running. i do some to relieve the boredom. not as profitable but, i hope to improve of course...

Just with blue chips, bit safer they are

Lets just hope BMN performs decently, dun want to be disappointed as these things are risky. Just as a clarification i said i held 100,000, soz that was $100k worth. i don't have that much money lol!


----------



## Go Nuke (20 February 2007)

Halba said:
			
		

> i got a few CFD trades running. i do some to relieve the boredom. not as profitable but, i hope to improve of course...
> 
> Just with blue chips, bit safer they are
> 
> Lets just hope BMN performs decently, dun want to be disappointed as these things are risky. Just as a clarification i said i held 100,000, soz that was $100k worth. i don't have that much money lol!




LOL...Dont worry about the correction.....my eyes bugged out at seeing the 100,000 bit anyway

People sure sound confident of BNM here


----------



## Go Nuke (20 February 2007)

Hey can someone give me the  pro's and con's with SMM and BNM.

Share price is similar (however the countries of U deposits are anything but)

appreiciate the feedback

Cheers
Andrew

 :microwave


----------



## LifeisShort (20 February 2007)

Go Nuke said:
			
		

> LOL...Dont worry about the correction.....my eyes bugged out at seeing the 100,000 bit anyway
> 
> People sure sound confident of BNM here




If only you bought those 100k worth at 6c year and a half ago. I've learnt one valuable lesson over the last 2 years. If you believe in something don't be afraid to punt big......

Seems to have paid off for some. Its good seeing BMN look quite solid, looking forward to more announcements.


----------



## champ2003 (20 February 2007)

LifeisShort said:
			
		

> If only you bought those 100k worth at 6c year and a half ago. I've learnt one valuable lesson over the last 2 years. If you believe in something don't be afraid to punt big......
> 
> Seems to have paid off for some. Its good seeing BMN look quite solid, looking forward to more announcements.




People could still be saying the same thing about the current price in 1.5 years from now as who knows how high the price will be heading


----------



## captjohn (20 February 2007)

Go Nuke said:
			
		

> Hey can someone give me the  pro's and con's with SMM and BNM.
> 
> Share price is similar (however the countries of U deposits are anything but)
> 
> ...



andrew,
Please go back & read Halbas post #623..... then if you're investing serious money into U stocks  ..then buy a book called "Investing in the Great Uranium Bull Market"...from the editors of Stock Interview.
300 pages of top info.
Then & only then will you realise why all of us are 'believers in Bannerman '  which should/could  be bigger than Paladin. 
During the May/June correction I got out of 15 junior miners & then  selected Bannerman  as my long term hold...

So far it's been like a racehorse...... up 
500% in 8 months.

Not a co-incidence but because investors  are realizing BMN actually has uranium in the ground & a lot of it.......

Chris 1983 will  soon work out just how much . as long as you promise to feed him..ha ha.!!

Summit has deposits as well .....but australia will slow down development  as Halba has suggested  & I reckon BMN will mine first.
Anyway beware of the 200 odd 'so called exlporation companies & some that are now changing their trading names to make sure the word"uranium" is mentioned somewhere....Most of them will never ever find any......just buy the book mate & let me know your comments.
good luck,
captjohn


----------



## Halba (21 February 2007)

Sure a fairly big punt but I feel a worst case scenario is that i have a uranium producer with a good size resource in a couple of years, that is able to mine. I doubt you can go wrong with that. The risks are only really just how long it takes, and with the scarcity of uranium co's around thats a fairly okay risk

I doubt i can lose much money in this at all. Time will be the major factor in sharemarket; sure short term timing may throw up a few issues.

Also the more time that passes, the more the uranium price will increase. Already on historical drilling theres about 20-40 million pounds.

By the way i hold SMM as well. This is because its expected EV/lb are low. But i only hold 15,000 shares. Again there is a real shortage of quality producers in Australia as well. Aussie fund managers prefer australia. Theres MTN- my thoughts are clear on that one, and theres AGS which is selling at a ridiculous EV/Lb of nearly paladins!


On a funny note i emailed Cameco a couple of nights ago re: Bannerman. If i was Cameco with my stuffed up lake i would seriously do a strategic alliance with BMN. 



> Comments:
> re: uranium deposit opportunity
> 
> Don\'t know if you are aware but there is a massive potential uranium
> ...


----------



## bliimp (21 February 2007)

A VERY BIG STATEMENT from Halba ..... "a worst case scenario is that i have a uranium producer with a good size resource in a couple of years, that is able to mine. I doubt you can go wrong with that. The risks are only really just how long it takes, and with the scarcity of uranium co's around thats a fairly okay risk"

Let there be another Chernobyl or another 3 Mile Island disaster .... 

Let there be cross-border hostilities in Africa affecting Namibia ....

Then you will not use the word "risk" as lightly as you have.


----------



## Halba (21 February 2007)

oh come on bliimp. everyone investing in stocks or life in general has risk

you should know that chernobyl was a human error nothing to do with uranium markets at all! do some research on it


----------



## bliimp (21 February 2007)

So you are trying to tell me that another Chernobyl will not impact the uranium markets because "some factory hand forgot to turn off a valve"

Why do you think uranium was worth next to nothing in the 1980s/90s ... 

The market will take all uranium producers to task. It is human frailty ... scapegoats must be found .... and only when the dust settles again will there once again be rational thinking.


----------



## Halba (21 February 2007)

oh goodness bliimp fair enough these u stocks and stocks in general are not for you


----------



## bliimp (21 February 2007)

I think you are missing the point Halba.

Let me tell you I have over 75% of my portfolio in uranium stocks; and I do value your analysis (as with all other contributors in this thread).

All I am trying to do is to highlight the important definition that you portray to the word "risk".


----------



## bean (21 February 2007)

Bliimp
Read transcript interview jim puplave with david miller 
president CCO Strathmore corp
http://www.financialsense.com/fsn/BP/2007/0210.html


----------



## captjohn (21 February 2007)

Hey Bliimp,

Talk about risk!!.......have a look at Metabolic (MBP)
this morning..
They've been testing a 'fat people pill'  for 5 years & finally said it doesn't work...  SP  down 80% .....  (just lost $20 grand)  

 Yes Bliimp....leave ya $$$ in the bank ....but wait !! it might get robbed ...so bury a tin fulla $$$ in ya backyard.

Personally,I like the 'risk' thing ....I'd rather have 200,000 shares in BMN  than a million in the bank.....it gives me a reason to turn my  computers on early in the morning,  to get excited when they rally or concerned when they dip & a little fuzzy when they consolidate (like now).

I am a retired 'sea captain'Aghhhh!!...with enough 'booty' to live on anyway..& coffins don't have any pockets !!

captjohn


----------



## Halba (21 February 2007)

Hi capt john. i feel for you on this occasion. bad luck mate

i sent u an email just recently


----------



## captjohn (21 February 2007)

bean said:
			
		

> Bliimp
> Read transcript interview jim puplave with david miller
> president CCO Strathmore corp
> http://www.financialsense.com/fsn/BP/2007/0210.html




Thanx Mr. Bean, 
 I read it just now myself ....& sorta summarises his book I was referring to( "Investing in the Great Uranium Bull Market.!!
captjohn


----------



## captjohn (21 February 2007)

Halba said:
			
		

> Hi capt john. i feel for you on this occasion. bad luck mate
> 
> i sent u an email just recently




Yes, thankyou Halba & will do research on your suggestion in due course.....
Actually owned these MBP for years @ about 60 cents & I thought SP could be $5 plus if "Fat Pill" worked.... Grrrrr!!

All the fatties doing the test..."broke out" & ran down to Hungry Jacks & locked the door..
If I don't laugh  I'll cry!!


----------



## pacer (21 February 2007)

If you are speculating on what a particular drug is gonna do then it's dangerous.....Try having a look at SLA, there's a better one that is proving it's drugs work and has a lot more to come...DYOR...just a tip, and they havn't even thought of testing it for weight loss yet...and the best part is it's natural, not chemicals.

BMN yeah it's a good holder for the future, and I have a few tucked away, and should fly to blue sky one day.


----------



## Halba (21 February 2007)

cool pacer.

when this comes to fruition hope to see you at an annual general meeting on bmn one day!


----------



## mmmmining (21 February 2007)

Getting tired fighting against Mr Market? Do you fell helpless trying to convince Mr Market that he is wrong?

As a long term holder, I don't pay much attention to the short term price yo-yo. 

Relax, have a glass of wine, or read something funny...


----------



## Halba (21 February 2007)

paladin seems to appreciate BMN's market cap daily

and BMN likely to have 5 times as much resource

funny thing this mkt


----------



## chris1983 (21 February 2007)

Its annoying but we have to be happy with Bannermans performance over the past year.  Its called waiting.  Waiting for results and being patient.  I had to be patient many a time during its ride up..this is just another one of its consolidation periods.  Okay back to work..I'm busy but I still find time to jump on and see whats going on.  Have fun guys.


----------



## Go Nuke (21 February 2007)

captjohn said:
			
		

> Hey Bliimp,
> 
> Talk about risk!!.......have a look at Metabolic (MBP)
> this morning..
> ...




Ouch Cap'tn..20k 
Thanks a heap for your recommendation of that book too, I'll be sure to look it up.

Just finished reading "Insiders Guide to Investing in Aust Mining and Resources"
Some ppl may laugh at this..but i dont care..got to start somewhere

I do hold some SMM shares....but I also got a little burnt with my AGS shares recently...so now Im a bit wary


----------



## Go Nuke (21 February 2007)

captjohn said:
			
		

> Yes, thankyou Halba & will do research on your suggestion in due course.....
> Actually owned these MBP for years @ about 60 cents & I thought SP could be $5 plus if "Fat Pill" worked.... Grrrrr!!
> 
> All the fatties doing the test..."broke out" & ran down to Hungry Jacks & locked the door..
> If I don't laugh I'll cry!!




LMAO 

:horse: <--- Getting their food any way possible after the trials


----------



## captjohn (21 February 2007)

BMN  announcement.......at 5 P.M.....exercising options
captjohn


----------



## Go Nuke (21 February 2007)

wow...a big rap from Fat Prophets on the Bannerman website!

If only I had bought in at .71c.
Ive yet to buy in
Need more of these----->


----------



## the barry (21 February 2007)

captjohn said:
			
		

> Yes, thankyou Halba & will do research on your suggestion in due course.....
> Actually owned these MBP for years @ about 60 cents & I thought SP could be $5 plus if "Fat Pill" worked.... Grrrrr!!
> 
> All the fatties doing the test..."broke out" & ran down to Hungry Jacks & locked the door..
> If I don't laugh  I'll cry!!




Mate, i have a story which will make you feel somewhat better, in about 2002 my best mate introduced me to a man called adam clark, inventor of the now infamous adam's platform technology. Although the share was in a trading halt, as a favour to my friend i was told that i could purchase the shares off the market. Convinced by the technology i invested 130,000 grand into the stock. Suffice to say the stock never listed and 7 years later i am still yet to see a cent of that money back. Hopefully this year the next saga will be played out in court and i will learn if i will see any of that coin again.
Otherwise i wont be paying tax in a long time.


----------



## Halba (21 February 2007)

barry everyone has copped their fair share of losses in past

i've been investing since i am 12 yrs old, am now 22 yrs of age. Fundamental analysis is my main forte- not so much technicals


----------



## LifeisShort (21 February 2007)

Halba said:
			
		

> barry everyone has copped their fair share of losses in past
> 
> i've been investing since i am 12 yrs old, am now 22 yrs of age. Fundamental analysis is my main forte- not so much technicals




You have about 50 years of losses (with winnings of course) to go through. You think it gets easier but with the continual change in peoples habits, dynamics, world events you can never be sure whats around the corner. You can only keep doing what you believe in and if it doesn't work move onto something else


----------



## Halba (21 February 2007)

agreed. u can never work it out. but just try to be decently profitable is all you can do.


----------



## james888 (22 February 2007)

spot uranium jumps US $10 on US auction-----FN ARENA


----------



## Halba (22 February 2007)

$75-85/lb.

at this stage no effect on bmn as they don't produce yet (got to be realistic huh)


----------



## Noskcid (22 February 2007)

the barry said:
			
		

> Mate, i have a story which will make you feel somewhat better, in about 2002 my best mate introduced me to a man called adam clark, inventor of the now infamous adam's platform technology. Although the share was in a trading halt, as a favour to my friend i was told that i could purchase the shares off the market. Convinced by the technology i invested 130,000 grand into the stock. Suffice to say the stock never listed and 7 years later i am still yet to see a cent of that money back. Hopefully this year the next saga will be played out in court and i will learn if i will see any of that coin again.
> Otherwise i wont be paying tax in a long time.




Similar situation here although not myself, friend of mine back in 98 invested in apparantly the second biggest oil minning company on the globe, I dont know the name of it but some people here might. He invested 80k and in 2 weeks time the company went broke, reason is un known to me as he didn't want to talk about it.


----------



## mmmmining (22 February 2007)

This thread becomes less and less relevant and boring. I cannot find any new and useful inputs to it except kiss and hug....


----------



## Noskcid (22 February 2007)

mmmmining said:
			
		

> This thread becomes less and less relevant and boring. I cannot find any new and useful inputs to it except kiss and hug....




Yes less and less, relevant to BMN!! But it will come back


----------



## captjohn (22 February 2007)

You've been spoilt MMmmmining.....

from Dec.20th. to Jan.24th......(5 weeks).... BMN's SP  NEARLY DOUBLED.

This caused SP to move too far (high)away from moving averages.& MACD.

Presently SP is going nicely sideways (more or less),bol. bands are reducing ....it's all part of the big picture. Study BMN's chart & you'll see what I mean!

Don't fret, the big boys know u308 has jumped 13%.

captjohn


----------



## LifeisShort (22 February 2007)

In this day age with all the scrutiny, compliance and regulation.....chances of a company going under without prior knowledge is very remote/slim. Back then you could cover up billion dollar losses without anyone batting an eyelid. Even recently the Enron fiasco.....there has been even more clamping down on reporting and financials so I wouldn't worry about unless you are investing in a dog. 

Is BMN a dog?......its a tiger/lion


----------



## sydney1963 (22 February 2007)

LifeisShort said:
			
		

> In this day age with all the scrutiny, compliance and regulation.....chances of a company going under without prior knowledge is very remote/slim. Back then you could cover up billion dollar losses without anyone batting an eyelid. Even recently the Enron fiasco.....there has been even more clamping down on reporting and financials so I wouldn't worry about unless you are investing in a dog.
> 
> Is BMN a dog?......its a tiger/lion



*AMP * took 12 month to go down to $2.5 from $12.5, so much warning for everyone.


----------



## Sean K (22 February 2007)

MACD doesn't look too inspiring, but the sp might be about to hit the general up trend line. Could drop out of it a little like in Dec 06, but one to watch again. Perhaps it's consolidated enough.


----------



## Halba (22 February 2007)

yep a break down would be a surprise. a break up would be consistent with the price of the commodity


----------



## Go Nuke (22 February 2007)

kennas said:
			
		

> MACD doesn't look too inspiring, but the sp might be about to hit the general up trend line. Could drop out of it a little like in Dec 06, but one to watch again. Perhaps it's consolidated enough.




That MACD looks like it might come a bit further yet doesn't it.


----------



## champ2003 (22 February 2007)

sydney1963 said:
			
		

> *AMP * took 12 month to go down to $2.5 from $12.5, so much warning for everyone.




Gosh how the hell can you even begin to compare BMN and Uranium to AMP?? You've really lost the plot now folks.

There's absolutely no comparisons to be made here.


----------



## Sean K (22 February 2007)

champ2003 said:
			
		

> Gosh how the hell can you even begin to compare BMN and Uranium to AMP?? You've really lost the plot now folks.
> 
> There's absolutely no comparisons to be made here.



There's an M in the middle of each....


----------



## champ2003 (22 February 2007)

kennas said:
			
		

> There's an M in the middle of each....




LOL i have to agree with you there Kennas!


----------



## sydney1963 (23 February 2007)

champ2003 said:
			
		

> Gosh how the hell can you even begin to compare BMN and Uranium to AMP?? You've really lost the plot now folks.
> 
> There's absolutely no comparisons to be made here.



I totaly agree,I was explain something else.


----------



## Halba (23 February 2007)

hah guys a bit of comic relief


----------



## Go Nuke (23 February 2007)

Bit of sideways action here from BMN.....getting ready for a jump you think? Or has a little more to give.

Down from $2.68 -$2.63 now.
Im looking to buy in....but dont know if i should hold out a little longer or not


----------



## Sean K (23 February 2007)

Go Nuke said:
			
		

> Bit of sideways action here from BMN.....getting ready for a jump you think? Or has a little more to give.
> 
> Down from $2.68 -$2.63 now.
> Im looking to buy in....but dont know if i should hold out a little longer or not



If you really think it's a long term goer a strategy could be to buy a few, and if it goes the right way buy a few more, and more, etc. I often do this to leg into something that looks like it's about to break up. I'm not saying you should buy this, just consider it as a strategy to reduce risk in any trade.


----------



## Go Nuke (23 February 2007)

kennas said:
			
		

> If you really think it's a long term goer a strategy could be to buy a few, and if it goes the right way buy a few more, and more, etc. I often do this to leg into something that looks like it's about to break up. I'm not saying you should buy this, just consider it as a strategy to reduce risk in any trade.




Thanks Kennas
Note taken


----------



## Halba (23 February 2007)

just get an average nuke

therefore u don't need to worry about volatility, say u got the average price for roughly that week


----------



## RIC (24 February 2007)

hi everyone

i'm a new investor in bmn

have been having a shocking time lately and hope
bmn will change my luck

i was in bpt and aza and lost most of my profit and then
lost even more after nxs fell 33% (lost a lot of real money)
so now i've quit the oil sector and hoping its not too late
with bmn

currently have 90% funds in bmn  cost 2.60
and                 10%             wmeo  at  11.0 

is it still worthwhile to add mtn at current prices
or any other uranium stocks

from what i have studied so far bmn looks to have
a bright future

anyone know when the next lot of results coming out??
and also why did the price decline since the last good
results

cheers

ric


----------



## Halba (24 February 2007)

don't bother with WME

its too low grade, and very small tonnage. historical research indicates it doesn't have anything substantial.

RIC you need to diversify. you can't always be profitable if you have 90% in one stock, what happens if that stock goes under(e.g. BPT AZA??)

I have 25-30 stocks in my portfolio at all times.


----------



## UraniumLover (24 February 2007)

RIC said:
			
		

> hi everyone
> 
> i'm a new investor in bmn
> 
> ...




I would stay away from the oil sector . Just Compare the oil price graph to the Uranium one and you will see why..
BMN is consolidating after a good run at current levels and should go up with time given there is no negative news about it. If you are worried wait until there is an upward trend.


----------



## LifeisShort (24 February 2007)

RIC said:
			
		

> hi everyone
> 
> i'm a new investor in bmn
> 
> ...




You should've been in the oile sector 1 to 2 years ago......the price has been on the decline since then....so i don't understand your investment in the sector. Uranium is on the up so thats a good place to look but be careful as you need to find quality. IMO BMN offers execellent potential and at these prices and its future to me its an accumulate.

Look at other sectors....like alternative/green energy/carbon credits or the IT which seems to be making a comback. The best punter stays ahead of the game and invests into things before everyone else so when everyone else piles in and drives the price up he/she gets out and moves onto the next winner.

I have one uranium stock and thats BMN and I've held it for a very long time (long time to me is 12 months). I have energy, IT and others to spread my risk.

Good Luck


----------



## chris1983 (24 February 2007)

LifeisShort said:
			
		

> Look at other sectors....like alternative/green energy/carbon credits or the IT which seems to be making a comback. The best punter stays ahead of the game and invests into things before everyone else so when everyone else piles in and drives the price up he/she gets out and moves onto the next winner.
> 
> I have one uranium stock and thats BMN and I've held it for a very long time (long time to me is 12 months). I have energy, IT and others to spread my risk.
> 
> Good Luck




Lis has made a good point here..to diversify..definately covers you if one of the sectors go bad on you.  I havnt done what LIS has said though.

Im in all energy stocks..plus one nickel..with China and India booming metals such as zinc, nickel etc will be needed for some time.  I'm onto AGM mainly because of their connections with Jin Chuan. If I had cash atm I would grab 10,000 FXR also.  There is no way they are going to stay down IMO.  The olympics is approaching..those countries are expanding and they need metal!  The world is growing and energy is needed to power it.  There is shortages all over the place.  I have three uranium stocks and 1 gas.  Thats the path I have taken.  You can see how badly Uranium is needed atm..BHP have the largest uranium mine in the world yet they have to buy uranium off third parties to cover their contracts..uranium is going to get hotter and hotter..its clean energy.

AGM/BMN/ERN/WMT/AOE

Would love to own FXR, MEL


----------



## Halba (24 February 2007)

chris get onto my ALB or MBN(i might buy some MBN soon - dun hold)

those r the nickel co's


----------



## chris1983 (24 February 2007)

Halba said:
			
		

> chris get onto my ALB or MBN(i might buy some MBN soon - dun hold)
> 
> those r the nickel co's





Ahh mate don't mention MBN to me.  I liked them at 70 cents 12 months back and was very close to buying them.  I liked them for their small amount of shares on issue.  Pretty much why I got into BMN 12 months back also.  I'm glad I didn't pass up BMN.  I was hunting for the shares with small amount of shares on issue and endless potential if there were any signs of good news.  ERN is next


----------



## Halba (24 February 2007)

Yep i missed mbn also. Is it too late in ure opinion?

BMN still looks cheap mkt cap $300m, when u producers can be worth in the billions, most of the gas is still to come IMHO


----------



## RIC (25 February 2007)

thanks for everyones advice


chris- i notice you like ern
because of radiometric anomalies compared to rossing
ground but is it a fair comparison because doesnt that
survey depend on type of rocks underground and depth
u308 at.

ern seems high risk as their have been no historic
drill results

can confirm if i'm right or are their other good reasons
to buy this stock?


cheers


----------



## chris1983 (25 February 2007)

RIC said:
			
		

> thanks for everyones advice
> 
> 
> chris- i notice you like ern
> ...




To Halba - MBN still look good.  I just want to look for other explorers that havnt taken off yet thats all.

To RIC - ERN are definately more spec than Bannerman etc.  If you want something more solid go for Bannerman.  Great depths..great widths.  I have said ERN are a spec play many a time.  Just read the ERN thread and you will see all the reasons why I like them as a good bet in Namibia.  Your definately right about ERN's radiometrics and how it wont be able to determine the depth of the resource.  The company is so cheap though anything reported on the top will see a rise in the SP.  The primary source rock on their erongo mountains licenses is granite rock..the same as Bannerman's Goanikontes ground.  So you can only judge what may happen by what you know.  There was also some previously drilling reported by ERN.  Read into it.  Anyway I gotta run.  Have a good day fellas.


----------



## captjohn (26 February 2007)

Over the past 6 months this is the third  4-5 week consolidation! for  BMN   ....which followed the big gains in share price.

On the W/E ...I closely studied the daily & weekly charts...

& as bollinger bands narrow & moving averages are closing tighter together .....in my opinion , this is the scenerio for big movements ,one way or the other.
Providing we dont have a correction by the general market ...I reckon the SP will start moving by weeks end!!  
Hopefully by then the company will soon announce interim drilling results  coz we need something to justify jumping the price up in to the $3 to $4 range .(remember 8 months ago paladin's SP was about $4  & its mine was almost in production.!

 As Chris said BMN has GREAT WIDTHS & DEPTHS "of (almost confirmed )   resources  which is "easily" mined.

Everyday I watch MTN,EXT,ACB,ERN,NRU etc jumping 5,10,15 %....and then remind myself how solid BMN is by reading the companies latest drilling report on feb 15 th.
Anyway I'm in for the long term & if SP doubles by xmas I'll be very happy.
Another bannerman believer,

captjohn


----------



## Halba (26 February 2007)

captjohn

I don't think studying bollinger bands, MA's is going to help. BMN moves and only moves with their rare announcements.

Remember all it takes is 1 ann.


----------



## chris1983 (26 February 2007)

This whole consolidation period doesn't bother me.  Its another boring time.  We need news..thats about it.  We know they are drilling Goanikontes and drilling it heavily atm.  Thats good enough for me.  This is one of the longer consolidation periods Bannerman has had.  If it continues to trade around these levels I'm happy.  As long as the next report continues to deliver good grades i'll be happy and I believe the grades and depths will continue.  This will reflect in the SP.

Actually if you look at the chart you could pretty much say its due for a jump in the SP to hold the trendline.  I wouldnt be surprised if they did release a message creating a reaction in the SP because they do have results not too far away.


----------



## LifeisShort (26 February 2007)

Anyone client of DJ Carmichael? A new updated note on BMN has been released today......


----------



## champ2003 (26 February 2007)

captjohn said:
			
		

> Over the past 6 months this is the third  4-5 week consolidation! for  BMN   ....which followed the big gains in share price.
> 
> On the W/E ...I closely studied the daily & weekly charts...
> 
> ...




Also keep in mind that PDN was a 1 BILLION DOLLAR company over 1 yr prior to commencement of mining(Aug 2005) and the price of uranium was only about 45 dollars at the time. Putting this into perspective BMN has only just begun it's rise to fame and fortune IMO.

Cheers!

Champ


----------



## nsitt (26 February 2007)

Dont forget the these small reactions are being made on pretty piss poor volume. For about a week now we have seen very low volume going through BMN. To me that indicates that there is very weak selling pressure.

To be 100% objective as well there has been very little buying interest in BMN either thus we are stuck in the doldrums. Like Chris said this stock is reliant on its announcements. Given another announcement buying pressure should start to pile on. 

Don't start fretting about price without volume confirmations about price's general direction. Price is just a figure a transaction takes place at. Volume is much more important.


----------



## captjohn (26 February 2007)

LifeisShort said:
			
		

> Anyone client of DJ Carmichael? A new updated note on BMN has been released today......




I,m not a client .......but sent them an email  recently asking them to update/upgrade  their original report which had a target of $3 for BMN's  S.P.

I advised the latest company announcement (feb 15 )was very positive  confirming the historical drillings& more depth etc etc.
.

 Life is short..... will you please advise me where to locate the 'note' they printed.
thankyou captjohn
captjohn@bigpond.net.au


----------



## LifeisShort (26 February 2007)

captjohn said:
			
		

> I,m not a client .......but sent them an email  recently asking them to update/upgrade  their original report which had a target of $3 for BMN's  S.P.
> 
> I advised the latest company announcement (feb 15 )was very positive  confirming the historical drillings& more depth etc etc.
> .
> ...




its only available to clients of DJ at the moment......so if you know anyone they can pass it onto you. Perhaps the Bannerman website will post it on there shortly


----------



## the barry (26 February 2007)

Can anyone please inform me as to where bannerman's is drilling at the moment and what their current focus is?

Thanks


----------



## captjohn (26 February 2007)

LifeisShort said:
			
		

> its only available to clients of DJ at the moment......so if you know anyone they can pass it onto you. Perhaps the Bannerman website will post it on there shortly





Thanx for that.....just rec'd email from djcarmichaels analyst to phone him tomorrow...so I may get a sneak preview.   captjohn


----------



## LifeisShort (26 February 2007)

the barry said:
			
		

> Can anyone please inform me as to where bannerman's is drilling at the moment and what their current focus is?
> 
> Thanks




Four drill rigs are being gathered to drill at Anomaly A. 100% focus is on the area of anomaly A so as to ascertain a picture of the depth and grade and expanse of the anomaly A and help them with the probable resource estimations


----------



## chris1983 (27 February 2007)

Big jump in the SP just then.


----------



## Sean K (27 February 2007)

chris1983 said:
			
		

> Big jump in the SP just then.



Maybe related to PDN offer for SMM. All U explorers will probably benefit today with expectation of further consolidation...


----------



## captjohn (27 February 2007)

chris1983 said:
			
		

> Big jump in the SP just then.



Yes, I'm live on powertrade & this is more like it....volume at ..200,000 in 30 minutes ......djcarmichaels update did the trick.....& later on the MACD will cross over to the upside...great time to buy 
captjohn


----------



## mmmmining (27 February 2007)

PDN taking over SMM makes everyone spin!


----------



## the barry (27 February 2007)

Bannerman's is definitely going to get looked at in the near future, paladin taking over summit at a 30 percent premium is conformation of this. There are so many uranium stocks with world class resources and bannermans has to be right up there in the queue.


----------



## Halba (27 February 2007)

Also BMN can be developed 3-4 yrs earlier than SMM.


----------



## Sean K (27 February 2007)

Halba said:
			
		

> Also BMN can be developed 3-4 yrs earlier than SMM.



SMM are claiming they can start producing in 2011. So that means BMN can start mining.........in April.


----------



## nsitt (27 February 2007)

Almost 400k volume within the first hour and a quarter of trading. Any moves up today are with a lot more confidence. Nice to see some larger turnover come back into BMN from the last few very quiet days.


----------



## Halba (27 February 2007)

to kennas. SMM will take until 2012 to develop (read the comment by borchoff).

BMN can be in production potentially as soon as late 2009. thats 3 yrs difference


Also as SMM disappears from the bourse what other mid cap u stocks are there with quality deposit??


----------



## Sean K (27 February 2007)

Halba said:
			
		

> Also as SMM disappears from the bourse what other mid cap u stocks are there with quality deposit??



MTN probably jumps up the ladder.


----------



## Halba (27 February 2007)

Can MTN's be developed?


----------



## captjohn (27 February 2007)

Halba said:
			
		

> to kennas. SMM will take until 2012 to develop (read the comment by borchoff).
> 
> BMN can be in production potentially as soon as late 2009. thats 3 yrs difference
> 
> ...





Yes good questions Halba,......I read that from exploration to production is normally 5 years......how come you reckon bannerman can do it in 3 years.....don't get me wrong coz I hope you're right but like to hear what you think!
captjohn


----------



## Halba (27 February 2007)

Uramin BFS completed a week ago, anticipating 4mil production pounds next yr.

That is very short lead time.


----------



## captjohn (27 February 2007)

As I predicted yesterday fellahs.....SP crossing MACD....volume up.....& pushing up the bollinger band.....really great to see action again....whew ....grin grin !!
captjohn


----------



## Halba (27 February 2007)

captjohn- cmon its not due to macds or ma's its just paladin/smm takeover affecting whole u sector


----------



## captjohn (27 February 2007)

STOP PRESS !!

Great news fellahs!!......just been advised bannerman has been re-rated/upgraded valuation target to ......wait for it...
$4.50......  ..the big volume is coming from traders at carmichael......&  please note Halba  *without* a drilling  announcement from bannerman  !!

captjohn


----------



## Sean K (27 February 2007)

Whether it's PDN/SMM related or not, looks to be breaking up from consolidation. Maybe too early to tell. Wait for end of day confirmation perhaps.


----------



## Halba (27 February 2007)

Capt john dun get too excited. I've seen this churning before, it'll end the week at 2.65 lol


----------



## philmac (27 February 2007)

the barry said:
			
		

> Bannerman's is definitely going to get looked at in the near future, paladin taking over summit at a 30 percent premium is conformation of this. There are so many uranium stocks with world class resources and bannermans has to be right up there in the queue.




Does anyone know how many shares the Bannerman directors own? I'm hoping its like Marathon where they will have some control if a takeover offer comes in.


----------



## captjohn (27 February 2007)

philmac said:
			
		

> Does anyone know how many shares the Bannerman directors own? I'm hoping its like Marathon where they will have some control if a takeover offer comes in.



5 top shareholders hold about 30% & top 20 ...48%...It's all in the latest carmichael update out today.....if you want a copy...let me know. captjohn


----------



## the barry (27 February 2007)

captjohn said:
			
		

> 5 top shareholders hold about 30% & top 20 ...48%...It's all in the latest carmichael update out today.....if you want a copy...let me know. captjohn




Can you please send me a copy to cactasbob@hotmail.com.

Thanks most appreciated,

the barry


----------



## Halba (27 February 2007)

plz send to nbhat@ozemail.com.au

Thanks captjohn! Lets hope for both our sakes my prediction is wrong lol


----------



## ekman (27 February 2007)

captjohn said:
			
		

> 5 top shareholders hold about 30% & top 20 ...48%...It's all in the latest carmichael update out today.....if you want a copy...let me know. captjohn



captjohn..is there a link for this report. thanks


----------



## nizar (27 February 2007)

Please send to: mnmah1@student.monash.edu

Many Thanks.


----------



## angela200172 (27 February 2007)

captjohn said:
			
		

> 5 top shareholders hold about 30% & top 20 ...48%...It's all in the latest carmichael update out today.....if you want a copy...let me know. captjohn




captjohn

Do you know how many shares Bannerman directors holding, I have email by BREE MORTER 3 days ago as following.   



> Angela
> 
> We are unaware of where Etrade Australia get their figures, however in relation to Nathan McMahon they have taken this number from the last Substantial Shareholder Notice that was released to the ASX by Bannerman Resources Limited. This notice included all holdings by Nathan McMahon, including his holdings under company names. To verify where Etrade got all other holding details you should contact them directly.
> 
> ...


----------



## captjohn (27 February 2007)

ekman said:
			
		

> captjohn..is there a link for this report. thanks



For now it's djcarmichael's  members only but should go onto BMN's website in due course.


----------



## Louieh (27 February 2007)

could i please get a copy too.. much appreciated 

louieh@gmail.com


----------



## nizar (27 February 2007)

captjohn said:
			
		

> STOP PRESS !!
> 
> Great news fellahs!!......just been advised bannerman has been re-rated/upgraded valuation target to ......wait for it...
> $4.50......  ..the big volume is coming from traders at carmichael......&  please note Halba  *without* a drilling  announcement from bannerman  !!
> ...




Many Thanks for the report.
BMN looks a goer, i picked up a few at $2.83.


----------



## the barry (27 February 2007)

nizar said:
			
		

> Many Thanks for the report.
> BMN looks a goer, i picked up a few at $2.83.




Not to dampen the enthusiasm, but it should be noted that the $4.50 target is a 12 month prediction. Not a current valuation. All the same though, very encouraging. I bought a few more at 2.70 based on the report as well as the takeover of smm. Good times ahead.


----------



## Noskcid (27 February 2007)

could I please get a copy dchan9@gmail.com 

thanks in advance


----------



## nizar (27 February 2007)

the barry said:
			
		

> Not to dampen the enthusiasm, but it should be noted that the $4.50 target is a 12 month prediction. Not a current valuation. All the same though, very encouraging. I bought a few more at 2.70 based on the report as well as the takeover of smm. Good times ahead.




LOL ummm, thanks bro for clearing up that issue


----------



## Halba (27 February 2007)

thats ok. good report. 60% return from here. still good!


----------



## the barry (27 February 2007)

nizar said:
			
		

> LOL ummm, thanks bro for clearing up that issue




Originally Posted by captjohn
STOP PRESS !!

Great news fellahs!!......just been advised bannerman has been re-rated/upgraded valuation target to ......wait for it...
$4.50...... ..the big volume is coming from traders at carmichael......& please note Halba without a drilling announcement from bannerman !!

captjohn

So from reading the previous post you worked out that the $4.50 target price was a 12 month valuation?


----------



## Halba (27 February 2007)

$4.50-$5 will all be smashed. u just wait!!

Reason: exploration potential is second to none, and mkt will start pricing that in.


----------



## nizar (27 February 2007)

the barry said:
			
		

> Originally Posted by captjohn
> STOP PRESS !!
> 
> Great news fellahs!!......just been advised bannerman has been re-rated/upgraded valuation target to ......wait for it...
> ...




I was just being sarcastic.
I always wanted to buy this but was waiting for the next spike.
The report had little to do with my purchase today.


----------



## Go Nuke (27 February 2007)

I would love a copy of that report if u wouldn't mind CaptnJohn

If ur fingers haven't fallen off from sending it to everyone else.

Much appriciated
Andrew
chooka03@hotmail.com


----------



## RIC (27 February 2007)

hi captjohn


can please also send me the report

asset@iinet.net.au

cheers

ric


----------



## captjohn (27 February 2007)

Chris 1983 must be busy at work coz he normally would be evaluating carmichaels report by now ......

However, the report is not anything new to all of us that read the latest BMN announcement is it ??

DJCarmichaels is a big operation & it's great to have an independant report compiled by professional resource analysts.
In paragraph 8, page one ,they quote $5.70 a share valuation when depths to 200 metres can be confirmed by drilling in Anomoly A.....with 58m lbs of u3o8.

So who knows when that will be?...3 months,6 months....at least all the traders have got an idea of how far to jump the SP up.....
captjohn


----------



## angela200172 (27 February 2007)

captjohn


would you please also send me the report,thanks.

lu163168@optusnet.com.au

cheers

Angela  




			
				captjohn said:
			
		

> Chris 1983 must be busy at work coz he normally would be evaluating carmichaels report by now ......
> 
> However, the report is not anything new to all of us that read the latest BMN announcement is it ??
> 
> ...


----------



## nomore4s (27 February 2007)

Go Nuke said:
			
		

> I would love a copy of that report if u wouldn't mind CaptnJohn
> 
> If ur fingers haven't fallen off from sending it to everyone else.
> 
> ...




lol - captjohn, maybe you should get the ASF mailing list off of Joe, might be quicker.


----------



## LifeisShort (27 February 2007)

the barry said:
			
		

> Not to dampen the enthusiasm, but it should be noted that the $4.50 target is a 12 month prediction. Not a current valuation. All the same though, very encouraging. I bought a few more at 2.70 based on the report as well as the takeover of smm. Good times ahead.




Yes but it doesn't state that the valuation of $4.50 should be at the end of 12 months...it can be anywhere between now and 12 months


----------



## chris1983 (27 February 2007)

captjohn said:
			
		

> Chris 1983 must be busy at work coz he normally would be evaluating carmichaels report by now ......
> 
> However, the report is not anything new to all of us that read the latest BMN announcement is it ??
> 
> ...




Yeah busy at work mate and would much rather be reading and clicking refresh.  Just got back into the office and am leaving in 15 minutes.  That was a quick day 

Great day for Bannerman.  We knew this surge would come.  Based on everything going on and by the comments in that report we should surpass $3 soon.

Its amazing..I knew if you were to do anything..you would work out an estimate based off the 1.7 km strike.  Bannerman is going to be big.  1.7 KM strike people..the total strike of Goanikontes is in excess of 22km.  Then we have the Rossingberg 11 Anomaly (R11) which has been shown to extend for a total of 15 kilometres


----------



## chris1983 (27 February 2007)

in the earlier presentation they show the strike for the historic drilling

_"Two zones identified to date (+1.4km and +3km)"_

I personally think Carmichael have underdone it a lot to not create a stir.  IMO they are going to be big and have always thought it would be big.  Just off the 1.7 KM strike they have worked out a large resource. We don't know if the mineralisation will be over the complete strike and at depth..but the possibilities are there.  Thats why they always continuously compare Goanikontes to the Rossing deposit.


----------



## RIC (27 February 2007)

thanks a lot capt john

I dearly wished i hadnt sold any today.

I think bmn is sensational should easily go above $10 a share in next 12 months.

cheers


----------



## Halba (27 February 2007)

Still needs a comp ann I'd take that over a broker report recycling same info I already know!


----------



## chris1983 (27 February 2007)

Halba said:
			
		

> Still needs a comp ann I'd take that over a broker report recycling same info I already know!




Yeah same.  But its good to get a broker even making a statement like they have in regards to potential resource size etc etc.  They put a lot on the line.  They are reporting to their members who are going to invest money in the stocks they pick and how they report on those stocks.  So I'm very happy with the report.


----------



## Halba (27 February 2007)

hey chris i chucked some more money in your ERN today

took a punt, valuations going up across the board

i feel u ann is imminent

1000*800*3.5*35 = potential 100mT in that anomaly A. maybe low average grade but still 100mT is a u deposit


----------



## captjohn (27 February 2007)

chris1983 said:
			
		

> in the earlier presentation they show the strike for the historic drilling
> 
> _"Two zones identified to date (+1.4km and +3km)"_
> 
> I personally think Carmichael have underdone it a lot to not create a stir.  IMO they are going to be big and have always thought it would be big.  Just off the 1.7 KM strike they have worked out a large resource. We don't know if the mineralisation will be over the complete strike and at depth..but the possibilities are there.  Thats why they always continuously compare Goanikontes to the Rossing deposit.




Yes chris, you & I & others here like to think that 58 m lbs of U is probably only 10% of the resource ....but DJC's analysts for now can't report on anything but the drilling results..& if they(BMN) can confirm U at 200 metres plus  by years end I reckon we'll have $6 as SP.....not too shabby...
Go on chris ...have a go at working out the full total resource....the  max. U3O8 that could be there...let's get it on record & we'll compare yours with theirs in, say, 12 months....& don't forget that  free dinner !!

captjohn


----------



## Halba (27 February 2007)

They may not be able to jorc all of it in time - labs lots of pressure.

However they could do some RC drilling on the other anomalies just to prove there is u there.


----------



## chris1983 (27 February 2007)

Halba said:
			
		

> They may not be able to jorc all of it in time - labs lots of pressure.
> 
> However they could do some RC drilling on the other anomalies just to prove there is u there.




They will prove it up enough to bring a mine on.  Thats about it.  Continue to drill it out as they mine to extend the mine life.  I think it will be huge.  Captjohn I'll give it a go.  I think I gave the total resource estimate a go earlier in the thread I think but I based it off the 22km strike of Goanikontes at only 100 meters depth. We really have no idea if the mineralisation spreads over the full 22km so just take what I say as a bit of fun.

22000m strike x 50m width x 200m depth = 220,000,000 Cubic Meters

There are 2.4 tonnes per cubic meter so we would have 528,000,000 Tonnes

If you use a 0.03% uranium grade you would still get in excess of 158,000 T of uranium.  Now wouldnt that be a dream.  In reaility we cannot expect the mineralisation to continue at depth and at the same grade for the full 22km..or could we.  Its full of speculation so take this little write up of mine as a bit of fun.  It would be another Rossing if they got something big.  Like Halba has said.. there is no way the company will just drill out the entire area.  They will only drill enough to bring a economical mine online but yes the potential is endless right now from what we know.


----------



## chris1983 (27 February 2007)

Halba said:
			
		

> hey chris i chucked some more money in your ERN today
> 
> took a punt, valuations going up across the board
> 
> ...




Hope it pays off Halba.  I think it will.  Even DJ Carmichael in the recent BMN report were talking about how valuable uranium tenements in Namibia are..and ERN have four.  They also seem to be in favour with the government over there.  Klaus has had ties in Africa for some time.  When you have a guy like that wheeling and dealing you know he will be favoured in lots of instances.  I also wouldnt rule out that fifth tenement they still have pending once the granting of uranium licenses start up again.  BMN and ERN are both looking sweet at this stage.  BMN are the sweetest because of the stage they are at with their exploration.


----------



## Halba (27 February 2007)

I think its better to have african plays which have a realistic expectation of mining. In addition the % potential gain on ERN is second to none at these prices.

Undiluted mkt cap less cash is $20m dollars.


----------



## mmmmining (27 February 2007)

chris1983 said:
			
		

> If you use a 0.03% uranium grade you would still get in excess of 158,000 T of uranium.  Now wouldnt that be a dream.



What a wild dream. It will value BMN over $30 per share. I am happy if BMN can find 30,000t.


----------



## chris1983 (27 February 2007)

mmmmining said:
			
		

> What a wild dream. It will value BMN over $30 per share. I am happy if BMN can find 30,000t.




You never know mining.  You never know  

Dreams can come true.


----------



## Halba (27 February 2007)

yep tell that to the paladin shareholders or the mtn holders like mming!


----------



## mmmmining (27 February 2007)

Halba said:
			
		

> yep tell that to the paladin shareholders or the mtn holders like mming!



Halba, what's wrong with 30,000t? If BMN can find it, BMN will be $6 stock. Would you guys be happy to see BMN at $6? 

I cannot hear you. 

It would be logic the stocks is at $6 first, and then $30. Correct me if I am wrong, I am holding a glass of BIN 888...


----------



## chris1983 (27 February 2007)

haha...My post was all in fun..$6 is good.  30,000 tonnes is good.


----------



## sydney1963 (27 February 2007)

chris1983 said:
			
		

> haha...My post was all in fun..$6 is good.  30,000 tonnes is good.



It will be good as start ,and $20 or $30 follow.


----------



## captjohn (27 February 2007)

mmmmining said:
			
		

> What a wild dream. It will value BMN over $30 per share. I am happy if BMN can find 30,000t.




Thanx Chris ,you're real quick with figures.....I'll bookmark your estimates & later on use them to bombard the press,media,analysts,etc..  but only after BMN can confirm depths at  2-300 metres for Anomoly A...............AS you say they have to start somewhere to get a JORC A.S.A.P......otherwise who can wait for a zillion pounds in10 years !!!!............we want Uranium like......now  !!!
Question??...Who can tell me how long will BMN be getting into production.????...  open cut  is easy...paladin  has railway lines operating....& mill available to process ore (at a price)........if it's too hard don't worry coz I will be writng to M.D. to ask anyway.!!
captjohn


----------



## jj0007 (27 February 2007)

No sooner than 3 years IMHO.  Realistically probably 4-5 years.  Which is still considered medium term in my books.

Defining a commerical JORC will take about 12 months.  It takes freaken one month to assay a core.     Surely that'll improve.

PFS about 6 months but can start once confidence levels improve.

BFS about 12 months and can start before PFS completion?

Mine construction about 12-18months?  but can start before BFS completion.


----------



## sydney1963 (27 February 2007)

jj0007 said:
			
		

> No sooner than 3 years IMHO.  Realistically probably 4-5 years.  Which is still considered medium term in my books.
> 
> Defining a commerical JORC will take about 12 months.  It takes freaken one month to assay a core.     Surely that'll improve.
> 
> ...



Befor that,China is ready to bmn as thier own supplier of uranium. contract will be in the table within 12 month ahead of prodcution. like pdn,pnn,unx


----------



## mmmmining (27 February 2007)

BMN can learn from Bendigo Mining, cutting corners.

Mining first, and define the resource later. I am happen with that. Wouldn't you?  I can bet money that Chinese will do what I said...


----------



## sydney1963 (27 February 2007)

jj0007 said:
			
		

> No sooner than 3 years IMHO.  Realistically probably 4-5 years.  Which is still considered medium term in my books.
> 
> Defining a commerical JORC will take about 12 months.  It takes freaken one month to assay a core.     Surely that'll improve.
> 
> ...



PDN looking for SMM, can anyone till me when SMM will be ready for production,4-5 yrs.


----------



## jj0007 (27 February 2007)

You can't construct a mine without funding.
You can't get funding without a BFS.
You can't do BFS unless you have sufficient resources of JORC status.

The Chinese can demand all the want but it still takes time to dig the stuff out of the ground and process it.  

3 years can go in the blink of an eye....unless you watch the market every second.  I use to do that...it drove me nuts


----------



## Freeballinginawetsuit (27 February 2007)

mmmmining said:
			
		

> BMN can learn from Bendigo Mining, cutting corners.
> 
> Mining first, and define the resource later. I am happen with that. Wouldn't you?  I can bet money that Chinese will do what I said...





I think you would find that BDG spent many years and 100's of mil, defining their reserve in their minds. The problem was they never really defined the resource, inferred>indicated>probable reserves.After many years it seems they just closed their eyes and had a ping at mining, many a large punter had the wool pulled over their eyes on the resource>more than likely even BDG's own management...I mean really  



BMN's deposit does not pose the same problematic reserve definitions as BDG's. BMN's management seem to not be as mentally challenged either!.

Like comparing chalk and cheese really


----------



## captjohn (27 February 2007)

mmmmining said:
			
		

> BMN can learn from Bendigo Mining, cutting corners.
> 
> Mining first, and define the resource later. I am happen with that. Wouldn't you?  I can bet money that Chinese will do what I said...




Thanx jj007& others,

Hard to believe  it takes sooooo long. Grrrrr.. Zzzzzzzz!!

I'm an ol' sea captain......not an engineer so just don't know  what's involved ..

but as you say, they should(chinese or whoever wants the U3O8)..start trying to cut corners to get on with it !!

I reckon 6 of us should buy 3 front end loaders & 3 dump trucks & go Namibia for a working holiday.....any volunteers. Hmmmmm ??   haha....captjohn


----------



## Halba (27 February 2007)

we're all goners tomorrow

uk market down 100pts

bad timing for latest bmn break out

2.60s here we come..atleast gives others the chance to top up


----------



## UMike (27 February 2007)

captjohn said:
			
		

> Thanx jj007& others,
> 
> Hard to believe  it takes sooooo long. Grrrrr.. Zzzzzzzz!!
> 
> ...



*Puts hand up*


----------



## nizar (27 February 2007)

Halba said:
			
		

> we're all goners tomorrow
> 
> uk market down 100pts
> 
> ...




$2.60 would move us back to ummm... this morning!!

I think if the market corrects BMN would go down a lot further than $2.60.


----------



## champ2003 (27 February 2007)

Halba said:
			
		

> we're all goners tomorrow
> 
> uk market down 100pts
> 
> ...






HMmm,

Interesting to read that you think there is a correlation to UK movements with our U stocks. This will be interesting to see if it pans out as predicted?

Cheers

Champ


----------



## UMike (27 February 2007)

I don't think there is any correlation at all.

Not with these stocks anyway.


----------



## RIC (27 February 2007)

i sold some at 2.70 today will be more than
happy to get them back in 260's

when i was in oil stocks and oil was going well my
stock was going up on days when all ords down approx
2%  so halba dont be so concerned about uk/dow/allords
going down -remember we hope to sell u3o8 which
went up 13.3% in last week and there is expected to
a shortage for at least 5 years

can everyone ignore my comments above and sell
their stock(so i can buy cheap)


----------



## chris1983 (28 February 2007)

No matter how much the market corrects uranium is still needed and hasn't taken a backward step in a long time.  Thats why all my money is in energy stocks.  they may pullback but the pullback wont last.


----------



## Halba (28 February 2007)

i agree long term u is needed recession or not

pretty defensive IMHO


----------



## chris1983 (28 February 2007)

Well..if your a seller today..I think you will look back in 6 months time and say "darn I wish I never panicked"

Thats just my opinion.


----------



## Halba (28 February 2007)

looks like my ern top up yesterday was a terrible top up

o well


----------



## the barry (28 February 2007)

I to want have the long term outlook, i just pray i don't get a margin call on my loan.


----------



## captjohn (28 February 2007)

Halba said:
			
		

> i agree long term u is needed recession or not
> 
> pretty defensive IMHO




This is not the first or last correction & we all have to accept it as part of the share's cycle of life......
just looked at BHP 's pre-opening price & it's at $27.50-ish.

At least BMN's had it's consolidation & all averages are close together.......
O.K. ladies & gentlemen ...just hang on for the ride(down this time)...
captjohn


----------



## chris1983 (28 February 2007)

Halba said:
			
		

> looks like my ern top up yesterday was a terrible top up
> 
> o well




Anyones topup yesterday will be terrible halba..Cant predict the future.  Dont worry about it.  Short term worries.  It will all pick up again.  This is all bargain buying atm.


----------



## Halba (28 February 2007)

s'all good. its not just affecting 1 stock.


----------



## chris1983 (28 February 2007)

I'm down 10 k on my fund from yesterday.  eeeek.  All good.  Its back to where it was a week ago


----------



## chris1983 (28 February 2007)

Halba said:
			
		

> s'all good. its not just affecting 1 stock.





Man look at Bannerman.  This is bargain buying atm.

What else is bargains?  Everything???


----------



## Noskcid (28 February 2007)

.........

and thanks for the report captjohn


----------



## Sean K (28 February 2007)

Bounced off 235. Looks like some buying in the 230s. Bit early to call it the low, but looks promising.


----------



## chris1983 (28 February 2007)

kennas said:
			
		

> Bounced off 235. Looks like some buying in the 230s. Bit early to call it the low, but looks promising.




I wouldnt be surprised to see a bounce in all world markets tonight.  overreaction.  This is your chance to make easy money Kennas!  Or are you holding off for a bit?


----------



## Sean K (28 February 2007)

chris1983 said:
			
		

> I wouldnt be surprised to see a bounce in all world markets tonight.  overreaction.  This is your chance to make easy money Kennas!  Or are you holding off for a bit?



Just watching for the minute. Too much noise.


----------



## chris1983 (28 February 2007)

kennas said:
			
		

> Just watching for the minute. Too much noise.




Yeah..its really hard to decide what to do.  You dont know if the markets will go down any further tonight.  I wouldnt think so but who knows.


----------



## nizar (28 February 2007)

kennas said:
			
		

> Bounced off 235. Looks like some buying in the 230s. Bit early to call it the low, but looks promising.




It does look promising.
Pushing new highs for the day.

I would see what happens nearer to the close before buying today.


----------



## chris1983 (28 February 2007)

They guys who picked them up at 2.35 to 2.38 this morning would be happy.


----------



## captjohn (28 February 2007)

Agghhh Mateys........ a sea of red on my watchlist  today.....

As all the stop losses get triggered & then the dreaded phone call from the CFD office calling in all the "margin calls".
Not me personally but have mates with 6 figure portfolios but  with  80%borrowed.
.
Actually ASX not too bad & recovering quite well... for the first day!!
Our shares are  just like ,ships,boats & canoes on the ( ASX)ocean... the tide goes up & the tide goes down !!  

It's not over yet as we could have days of declines ...... just hope it's not like last May/June.
captjohn


----------



## chris1983 (28 February 2007)

Ive got a few greens :|  Thats weird..going against the market is my fund


----------



## sydney1963 (28 February 2007)

chris1983 said:
			
		

> Yeah..its really hard to decide what to do.  You dont know if the markets will go down any further tonight.  I wouldnt think so but who knows.



Anyone know what time china stock exchange open today?????


----------



## mmmmining (28 February 2007)

12:30est


----------



## nizar (28 February 2007)

CHina recovering well.
My delayed quote shows it was down 1.3% a moment ago.
Now up by about 1%.


----------



## sydney1963 (28 February 2007)

nizar said:
			
		

> CHina recovering well.
> My delayed quote shows it was down 1.3% a moment ago.
> Now up by about 1%.



Still bit of a worry.


----------



## sydney1963 (28 February 2007)

it is buying mode


----------



## nizar (28 February 2007)

sydney1963 said:
			
		

> it is buying mode




Im not sure.

China is still looking shaky.

Nikkei is down by 3.5%, Hang Seng 3%.

Maybe US, London and Co. after running so hard the last few months, all they needed was something to trigger a correction. So even though the "trigger" is gone ie. if China goes up today, it doesnt matter, as the correction will feed on itself and last a few weeks??

Maybe not like May, which was more like a May-August bear market, but more like October 2005, short and sweet, and all over in 3 weeks??

Maybe not the time to be buying.


----------



## mmmmining (28 February 2007)

nizar said:
			
		

> CHina recovering well.
> My delayed quote shows it was down 1.3% a moment ago.
> Now up by about 1%.




Try this real time one:

http://www.sse.com.cn/sseportal/en_us/ps/home.shtml


----------



## sydney1963 (28 February 2007)

mmmmining said:
			
		

> Try this real time one:
> 
> http://www.sse.com.cn/sseportal/en_us/ps/home.shtml



SSE180 is -.044% Changhai 10.52 am,SSE50 IS -.043%


----------



## bigt (28 February 2007)

Looking at the history of the SSE since start of 2007...its had a bit of a roller coaster ride, this drop is similar to the one that occured in Jan/Feb...I can't rememeber the impact of this drop on the Aussie market?

This time though, its coupled with questions about the longer term sustainability of the economy, which adds extra pressure.

Personally, I think it will pick up and keep going...you can't switch off China overnight, it's still a freight train.


----------



## LifeisShort (28 February 2007)

bigt said:
			
		

> Looking at the history of the SSE since start of 2007...its had a bit of a roller coaster ride, this drop is similar to the one that occured in Jan/Feb...I can't rememeber the impact of this drop on the Aussie market?
> 
> This time though, its coupled with questions about the longer term sustainability of the economy, which adds extra pressure.
> 
> Personally, I think it will pick up and keep going...you can't switch off China overnight, it's still a freight train.




Normally after a massive down day the profit takers will take the market up the next day unless there are reasons for the sell off to continue by which then stop losses trigger further selling and margin calls complete the selling rout. This could take days or weeks if its not halted quickly......IMO its a temporary glitch (the usual panic sellers)


----------



## LifeisShort (28 February 2007)

Although come to think of it the reporting season is over so there might be some more selling tomorrow....


----------



## captjohn (28 February 2007)

To chris 1983,
Early this A.M. I placed bid for 270K of EXT & has been filled......I heard it's land is near bmn & thought I should diversify a bit !! Any comments ??....do you know it's website address so I can research more..thanx,captjohn


----------



## chris1983 (28 February 2007)

captjohn said:
			
		

> To chris 1983,
> Early this A.M. I placed bid for 270K of EXT & has been filled......I heard it's land is near bmn & thought I should diversify a bit !! Any comments ??....do you know it's website address so I can research more..thanx,captjohn





www.extres.com.au

Yeah ive held them before from 2.7 cents and sold out at 8..around there.  They look decent.  I'm looking at a re-entry after they consolidate.


----------



## Go Nuke (28 February 2007)

ouch!  
$2.35.

Typically...I bought on Fri or Monday! Punting on an up...

Least i have 1 green stock in my list
(CUV)


----------



## Halba (28 February 2007)

this didn't fare too badly today. no major breaks of support. others have broken support.


----------



## nizar (28 February 2007)

Halba said:
			
		

> this didn't fare too badly today. no major breaks of support. others have broken support.




True.
We finished where we started yesterday, at $2.60.

That tail wouldve stopped out many (all the way to $2.35), including me   

We'll see if 2mrws a bounce or even more carnage.
Im predicting a big move either way.


----------



## chris1983 (28 February 2007)

The shanghai index is recovering atm.  Up 1.34%.  So they get 100% gains on their index in such a short time..and they allready start to recover.  Was this drop really needed..I think everyone was just looking for a correction.

Have you guys read this article?

http://www.iht.com/articles/ap/2007/02/28/business/AS-FIN-China-Stocks.php


----------



## LifeisShort (28 February 2007)

captjohn said:
			
		

> To chris 1983,
> Early this A.M. I placed bid for 270K of EXT & has been filled......I heard it's land is near bmn & thought I should diversify a bit !! Any comments ??....do you know it's website address so I can research more..thanx,captjohn




CaptJohn....are you Irish by any chance? Reason I ask is you buy first then do research late instead of the other common sense way around. Its a novel approach to investing.....


----------



## Go Nuke (28 February 2007)

Thanks for the report Captain!


----------



## captjohn (28 February 2007)

LifeisShort said:
			
		

> CaptJohn....are you Irish by any chance? Reason I ask is you buy first then do research late instead of the other common sense way around. Its a novel approach to investing.....





It might seem so 'Life is Short'...but I did say "more research".........& the early bird catches the worm...........

The fact is that a few days ago the SP was spiking at 35% higher at 13.5 cents....and then I started reading the EXT thread to discover a lot of juicy happenings near BMN, also that a UK fund manager had bought heaps & training staff........all sorts of things.
This A.M I looked at the chart & figured below 10 cents would be a bargain & got 'em at 9.6....end of story.... it's called "bottom fishing" & they closed at 11 cents.....
I also put bids on ERN at 51 & 52 cents but SP only went down to 53 .......  maybe tomorrow.

I remember after twin towers bombing QBE (insurance co.) the SP dropped to $3.50 & I jumped in without research either..  I'm still smiling but life is short


----------



## champ2003 (28 February 2007)

Halba said:
			
		

> we're all goners tomorrow
> 
> uk market down 100pts
> 
> ...





I've gotta say that was a good call Halba!

Cheers!


----------



## Halba (28 February 2007)

yup ;/ cheers champ


----------



## captjohn (28 February 2007)

Extract Resources looks pretty good to me as another Namibian "speckie" with a lot of land.

It's right amongst BMN Rio PDN etc....& IMO  as BMN confirms resources by years end then EXT will  maybe get more attention for having the right address !!!

Rockingham 178 is certainly the resident thread 'expert' (read post#1505 ) for starters....& seems to know his facts.
captjohn


----------



## LifeisShort (28 February 2007)

captjohn said:
			
		

> It might seem so 'Life is Short'...but I did say "more research".........& the early bird catches the worm...........
> 
> The fact is that a few days ago the SP was spiking at 35% higher at 13.5 cents....and then I started reading the EXT thread to discover a lot of juicy happenings near BMN, also that a UK fund manager had bought heaps & training staff........all sorts of things.
> This A.M I looked at the chart & figured below 10 cents would be a bargain & got 'em at 9.6....end of story.... it's called "bottom fishing" & they closed at 11 cents.....
> ...




Well done capto'john

Sometimes it does payoff to just jump in when an opportunity comes a knocking. I've done it myself a few times......and look where I'm now.....thanks BMN.

p.s. please stop hassling the guys at Carmichaels....although well done for going straight to the source of BMN research


----------



## captjohn (1 March 2007)

Thanx for words of support 'life is short'  .....EXT have just touched 12 cents  & yes I'll leave DJC's alone until next time when (4-6 months)BMN are at $5.......hahaha.


----------



## Halba (1 March 2007)

hmm hardly a convincing day today


----------



## chris1983 (1 March 2007)

Halba said:
			
		

> hmm hardly a convincing day today




I think its a good day.  The DOW rebounded well and economic growth in the US is at moderate levels.  Some investors will still be trying to get out today not willing to take a risk but to me it looks good.  Its funny that we now have to keep a close on on the shanghai stock exchange.  Should be interesting to see what happens with them today.


----------



## nizar (1 March 2007)

chris1983 said:
			
		

> I think its a good day.  The DOW rebounded well and economic growth in the US is at moderate levels.  Some investors will still be trying to get out today not willing to take a risk but to me it looks good.  Its funny that we now have to keep a close on on the shanghai stock exchange.  Should be interesting to see what happens with them today.




I think Halba was referring to BMN.
While many other stocks are rebounding strongly, BMN isnt doing much.


----------



## chris1983 (1 March 2007)

nizar said:
			
		

> I think Halba was referring to BMN.
> While many other stocks are rebounding strongly, BMN isnt doing much.




ohh..

They are doing alright though.  They havnt really moved..other stocks are recovering losses..its actually not that bad that we had a run the day before with BMN.  Keep an eye on WMT   Its a breakout atm.


----------



## captjohn (1 March 2007)

New Company Presentation just released by BMN.........pdf version is best for color shots.
They're quoting 50-200 Mt for Goanakontes alone ....so great to see them confident....wait till the market absorbs this info.....it's all support for SP to go up up.....in months ahead.

Well I bought into ERN this A.M at 60cents so now got BMN, EXT & ERN...so that it.
Early last year I had 15 plus junior miners & nearly went crazy trying to trade 'em for a profit...so I'll watch ERN & EXT closely for 3 months & sell if they're dragging their feet!!
captjohn


----------



## Halba (1 March 2007)

I was referring to the broader mkt.

BMN is actually a good stock it is reflected in its holding up.

Hope they do good for ya captnjohn.
I've just been badly burned on DMX today, not having a good day. $3-4k down the toilet captjohn, know how u feel re: MBP


----------



## captjohn (1 March 2007)

Yes sorry to hear that Halba about Dolomatrix...down to 90 cents...
You should read BMN's latest presentation to cheer you up.....lotsa stuff you already know .....but now they are stating 50 to 200Mt similar grades to Rossing.
I reckon that's quite a confident statement to print ahead of time..... any comments from you or chris (but he's busy watching WMT jump up.) captjohn


----------



## Halba (1 March 2007)

hi captjohn. in the dumps right now. dmx i sold, cut my losses. pointless having these small caps, they just ruin your profits in the good ones.

DMX company mislead the investors - said they were going to earn 13m EBITDA, turned out to be a 50% downgrade, and also company is not performing to budget and barely turned the profit. their reasons were that company employees were enjoying taking holidays thus contributing to increased costs. 

Cheerios. Liked the BMN pictures in the presentation. I can see a lot of potential uranium there.  obvious winner, atleast they don't mislead/hype it up the mkt despite the slowness of results flow. 

Halba.


----------



## captjohn (2 March 2007)

Everybody seems to be in ,   Doom,..Gloom ..&.Despair!!

Look on the bright side  ....Reporting season just finished & most companies are doing well !!
Trust me  .....the big boys will not take the index down very  far during this 'little correction".

Allow a week or so for the moving averages to get down to join the share prices ...& I betcha it'll all take off up again  for another few months... BMN  now has stronger fundamentals & a SP upgrade to go up to in the next 6 months.....so relax & stop watching every little movement of the day traders or you'll go crazy...
Words of wisdom from Captjohn


----------



## chris1983 (2 March 2007)

I agree captjohn..I'm pretty much sitting here just waiting for everything to rebound.

I'm happy with the performance of all my shares.  Im all in energy pretty much plus AGM and TTS.

Everything looks good thus far.  BMN has been super strong.


----------



## sydney1963 (2 March 2007)

Mar.01
5:48 PM ET 4 hours ago
Analysts: Good Time To Buy Stocks Cheaply
Posted By:Greg Levine
John Bollinger chides "fat, dumb and happy" investors for their complacency leading up to Tuesday's market quake -- but says quick thinking can salvage opportunity from the correction.

The president of Bollinger Capital Management appeared on "Closing Bell," where he said investors weren't hedging their portfolios defensively as they should've been -- and that there's "no excuse" for that failing, "given today's tools." However, he believes that the Chinese market drop was merely a "one-off event," which will create only a short-term decline. And he urges investors to "take out their shopping lists" and scoop up all the stocks they'd been coveting when the shares were at higher prices.

Bollinger was joined by Binky Chadha, chief U.S. macro equity strategist at Deutsche Bank. Chadha told CNBC's Maria Bartiromo that his team remains "basically bullish" on U.S. equities, despite the "temporary spike in the VIX [Chicago Board Options Exchange's Volatility Index]." He noted that spikes tend to last a mere two-and-a-half to three weeks. A key piece of data he'll be watching: the U.S.


----------



## Joe Blow (2 March 2007)

sydney1963 said:
			
		

> Mar.01
> 5:48 PM ET 4 hours ago
> Analysts: Good Time To Buy Stocks Cheaply
> Posted By:Greg Levine
> ...




Sydney, what does this news excerpt have to do with Bannerman?


----------



## sydney1963 (2 March 2007)

Joe Blow said:
			
		

> Sydney, what does this news excerpt have to do with Bannerman?



Not everything doom and gloom, as captinjohn said look to bright side


----------



## Joe Blow (2 March 2007)

sydney1963 said:
			
		

> Not everything doom and gloom, as captinjohn said look to bright side




Ah, ok. Next time could you please quote him so we know what you are responding to. 

Lets try and keep these stock threads on topic!

Thanks!


----------



## captjohn (2 March 2007)

Talk about "Day Traders".....it is that literally.

They get in & out  selling long & short all day, & never leave any $$$$ in  "overnite"especially on weekends !(coz that's when  wars start )!.

Years ago .....a senior trader that was with the same (stockbroker)company as my nephew........ pressed the wrong button on a busy friday arvo  to sell off 30,000 WES (wesfarmers shares).

The bid from buyers was $25.50  BUT somehow he keyed in....wait for it ...$20.50 & proceeded to sell off in 10,000 parcels..   

I had WES on my mothers watchlist & saw them spike down & thought the world was ending...This was pre..9/11

All the' bottom fishers' couldn't believe their luck & promply sold 'em for a quick 20%....& enjoyed the weekend  

The 'trader 'was  subsequently sacked & accused of feeding the 'bottom fish'  !!!.
Believe it or not !!
captjohn


----------



## captjohn (2 March 2007)

Sorry Joe Blow ,.....this has got nothing to do with bannerman either....my mind is just wandering  captjohn


----------



## Halba (2 March 2007)

Mkt supports this stock and ERN quite well. I guess not many potential namibian producers around.


----------



## Joe Blow (2 March 2007)

captjohn said:
			
		

> Sorry Joe Blow ,.....this has got nothing to do with bannerman either....my mind is just wandering  captjohn




captjohn - I think its very important that we keep stock threads on topic and reserve them solely for information, news and analysis on that particular stock (BMN in this case). Once a stock thread loses focus it is often hard to get it back on track.

If you have another topic you would like to discuss, do a search for it to see if a current thread on that topic exists. If not, feel free to start one in the appropriate forum.

Now, back to Bannerman.


----------



## ekman (2 March 2007)

CAMECO report just out. IMO still a long way to get back to pre accident status.


----------



## Halba (2 March 2007)

Nothing will be known till end of march re: cameco

I think their cigar lake is stuffed. Still bodes well and a good reminder.


----------



## bean (3 March 2007)

captjohn
Hi the book investing in the great uranium bull market
Well I wrote to Strathmore minerals Corp ... I got a free CD of the book.
I am however 100% cash   I believe in what I preach but I am not silly to exit the market when I should. I am a gold and silver  + uranium and commodities bug as anyone but at the moment I am 100% cash.
I am and do believe BMN will be as you say but I am first and foremost a gold bug and we are going down (with the market)....
This main post is the CD. Find where it is and you can get it too.


----------



## captjohn (3 March 2007)

Mr.Bean.

Actually I got the book "Investing in the great Uranium Bull Market" for free when I subscribed last year to FN Arena.

It's great to hear the company(Strathmore Minerals) is issuing free C.D's & I wish a lot more members of the public...especially Labor Politians would read it.

They will then understand just how uranium will better solve the World's  energy crisis.


Regarding your investments....as long as it feels good for you!!
We have a correction happening now & all shares are on the same water when the tide drops!!
Good fundamentals like BMN will get snapped up when SP drops as investors know SP will (sooner or later) get to & over $3....captjohn


----------



## UraniumLover (3 March 2007)

captjohn,
Have you tried bottom fishing BMN yet? Good waters for it.


----------



## mmmmining (3 March 2007)

captjohn said:
			
		

> Actually I got the book "Investing in the great Uranium Bull Market"




I have read that book, not much useful for Aussie stocks, and out of date already. 

You can get more useful info about Aussie projects, and general knowledge from:

www.uic.com.au

Also, There is a map which is very useful for Aussie uranium projects:

"The Investor's Australian Uranium Hot Play Map". 

I believe you can get it from a number of companies, such as UTO, EME, SIM, DYL. Or get it from Far East Capital.


----------



## Sean K (3 March 2007)

UraniumLover said:
			
		

> captjohn,
> Have you tried bottom fishing BMN yet? Good waters for it.



Hard to pick a bottom for this at the moment. Depends on the overall market to some degree. Picking it up at support at $2.25 might be ok, or $1.50 ish. $2.50 is holding very well at the moment. I think punters are pretty sure this will come out with a decent resource estimate and has takeover spec appeal after the PDN/SMM thing. Dangerous to jump into the water at the moment, or pick bottoms, while the ASX knife is falling....I'm waiting for confirmed resumption of uptrend. Clearing $2.90 would do it for me.


----------



## nizar (3 March 2007)

kennas said:
			
		

> Clearing $2.90 would do it for me.




Yeh same.


----------



## chris1983 (3 March 2007)

kennas said:
			
		

> Hard to pick a bottom for this at the moment. Depends on the overall market to some degree. Picking it up at support at $2.25 might be ok, or $1.50 ish. $2.50 is holding very well at the moment. I think punters are pretty sure this will come out with a decent resource estimate and has takeover spec appeal after the PDN/SMM thing. Dangerous to jump into the water at the moment, or pick bottoms, while the ASX knife is falling....I'm waiting for confirmed resumption of uptrend. Clearing $2.90 would do it for me.




I think 1.50 is long gone.  IMO if you can pick them up at 2.20 do so.  I dont think they will ever be back to the 1.50 level..2.20 is possible but I dont think so.  There is too much news coming up..and if they did retrace they wont stay down for long.  They hit a low of 2.35 on feb 28 the day when the correction began and bounced off this level very quickly.  Lots are waiting for the bargains.


----------



## Sean K (4 March 2007)

chris1983 said:
			
		

> I think 1.50 is long gone.  IMO if you can pick them up at 2.20 do so.  I dont think they will ever be back to the 1.50 level..2.20 is possible but I dont think so.  There is too much news coming up..and if they did retrace they wont stay down for long.  They hit a low of 2.35 on feb 28 the day when the correction began and bounced off this level very quickly.  Lots are waiting for the bargains.



Chris, I'm still holding, but find it very hard to say what value this is. Please stay objective in valuing BMN. You can NOT value it until it has a JORC/BFS completed. Up till then, let's call it potential. Go BMN! Please!   But, please, everyone, uranium explorers are speculative! That is all.


----------



## chris1983 (4 March 2007)

kennas said:
			
		

> Chris, I'm still holding, but find it very hard to say what value this is. Please stay objective in valuing BMN. You can NOT value it until it has a JORC/BFS completed. Up till then, let's call it potential. Go BMN! Please!   But, please, everyone, uranium explorers are speculative! That is all.




Hey Kennas..no valuing from me..just commenting on your support levels and I think the 2.20ish mark was more realistic than the 1.50ish mark.  A lot has been released since surpassing the 1.50 level and I would find it hard to see it back to that current level especially after seeing the price rally strongly in relation to the sell off on Feb 28.  Anything can happen though and if this correction continues it could be possible.  I think the market will be down on Monday and BMN will probably follow the trend like most other stocks but it will once again bounce off the support levels.  There is no reason for it to break under those support levels when Uranium is still in demand and the uranium spot price does not look to be falling anytime soon.  I'm in for long term and always have been with the holding I have left.  I'll stick with the latest price target from Carmichael at $4.50.  Has the link to the article been posted on here?  Link is below for holders who haven't had a chance to read the report.

http://www.bannermanresources.com.au/docs/2007/BMN_Carmichael_20070223.pdf


----------



## Halba (4 March 2007)

If 1.50 is hit pigs will fly.


----------



## LifeisShort (4 March 2007)

Halba said:
			
		

> If 1.50 is hit pigs will fly.




Don't get overly confident. If there is a serious correction on our hands then we might yet see $1.50 which by then I would've sold my house and everything else and bought every single share available. 

Looking at the BMN presentation the historical drilling numbers have been proven by BMN so i don't think there is much doubt that BMN will come out with a good starting JORC resource to open up the eyes of the bigger players that they are a serious uranium player. Once the JORC resource is out then it will fundamentally change the company as everyone takes it up a notch when real figures are available


----------



## Halba (4 March 2007)

See the comparison diagram between historical drilling vs new drilling.

It looks like they are upgrading the historical drilling by quite a bit, proving more ore than initially thought.


----------



## chris1983 (4 March 2007)

I really dont think 1.50 would ever happen but yes..like LIS has said anything could happen.  The correction would have to be very big and uranium prices would have to be hit very hard.  I personally dont even know why we are mentioning 1.50.  We should be talking about the support at the mid 2.20 region if it ever did have a drop.  That would be hard enough to break.


----------



## Halba (4 March 2007)

Even if it hits 2.20 this is all very short term discussion and imho does not reflect where the price will be in 6-9-18 months time.


----------



## chris1983 (4 March 2007)

Halba said:
			
		

> Even if it hits 2.20 this is all very short term discussion and imho does not reflect where the price will be in 6-9-18 months time.




I totally agree Halba..  Im expecting at least 4.50 like the Carmichael report has predicted.  Lets talk about that 4.50 level instead of all these support levels..Bannerman is so strong it will go up on monday!


----------



## the barry (4 March 2007)

The day of the correction the share priced dropped to $2.35 and then recovered to levels seen before the carmichael report came out. Despite the market continuing to lose ground, the share price of bannermans has gone against the trend and consolidated around the $2.60 mark. Whilst it is heavily dependant on how much further the market corrects, it would be hard to see the price of bannermans going below the $2.35 mark.


----------



## Halba (4 March 2007)

Agreed chris. You have a sound mind and focus on the positives. Good on you. You never panic in a correction which is good to see, and believe in what you invest in.


----------



## sydney1963 (4 March 2007)

Halba said:
			
		

> Even if it hits 2.20 this is all very short term discussion and imho does not reflect where the price will be in 6-9-18 months time.



The fact is we have 5% correction for DOWJ, which will give us $2.5-2.55 sp for BMN on Monday & 3.60-3.65 for MTN, that around 10% discount on both sp.
As everyone looking for 10% correction on DOWJ by end of March [CNBC today], then we will have $2.25-2.35 for MBN and $3.35-3.4 for MTN by end of March. [that is 20% discount on sp]
They think the 10% correction is needed to get the normal growth by end of the year [u cut ur hier short to achieve growth].
That we lead us to $4.5 to mbn and $5.00 for mtn after 6 month. 9 or 10/2007 
U share go down more than other shares,and SP200 will lose more than 5% comparing with 10% for DOWJ.
So SP200 will be @5700 from 6000 point.


----------



## Halba (4 March 2007)

A drill result can change all those figures!

BMN/MTN are not all ordinaries indexed so major funds don't buy/sell a lot, only small investors.


----------



## Sanhedrin (4 March 2007)

Can someone please comment on something that has been of a concern to me? BMN have an exploration license from The minstry of Mines in Namibia, when they establish the extent of resources and viability of the of a potential mine do they automatically obtain the Mining License to mine the U308? or can the Govt. issue the mining license to another company?


----------



## UraniumLover (4 March 2007)

chris1983 said:
			
		

> Hey Kennas..no valuing from me..just commenting on your support levels and I think the 2.20ish mark was more realistic than the 1.50ish mark.  A lot has been released since surpassing the 1.50 level and I would find it hard to see it back to that current level especially after seeing the price rally strongly in relation to the sell off on Feb 28.  Anything can happen though and if this correction continues it could be possible.  I think the market will be down on Monday and BMN will probably follow the trend like most other stocks but it will once again bounce off the support levels.  There is no reason for it to break under those support levels when Uranium is still in demand and the uranium spot price does not look to be falling anytime soon.  I'm in for long term and always have been with the holding I have left.  I'll stick with the latest price target from Carmichael at $4.50.  Has the link to the article been posted on here?  Link is below for holders who haven't had a chance to read the report.
> 
> http://www.bannermanresources.com.au/docs/2007/BMN_Carmichael_20070223.pdf



I tend to agree with Chris as well Kennas. When I stated it was good waters for bottom fishing I was referring to taking advantage of large volatility caused by stop losses and unnecessary panic (2.35 low, 2.65 high 28 Feb). We know the stock will come back up due to fundamentals so why not top up and take advantage of over selling and pick up more stock near lower support levels (2.20 ish) if it occurs at all.


----------



## angela200172 (4 March 2007)

UraniumLover said:
			
		

> I tend to agree with Chris as well Kennas. When i stated it was good waters for bottom fishing i was refering to taking advantage of large volatility caused by stop losses and unnecessary panic (2.35 low , 2.65 high 28 Feb) . We know the stock will come back up due to fundamentals  so why not top up and take advantage of over selling and pick up more stock near lower support levels (2.20 ish ) if it occurs at all.




I agree, if the sp go back to $2.30, I will start to buy BMN again.


----------



## chris1983 (5 March 2007)

Sanhedrin said:
			
		

> Can someone please comment on something that has been of a concern to me? BMN have an exploration license from The minstry of Mines in Namibia, when they establish the extent of resources and viability of the of a potential mine do they automatically obtain the Mining License to mine the U308? or can the Govt. issue the mining license to another company?




Below is the dates they were granted for both licenses

Granted- 27/04/2006         Expiry- 26/04/2009

They have the licenses for quite some time yet.  All new licenses are only issued for a year.  So Bannerman did well with the dates for their licenses. After they map out their resouce they will conduct a BFS.  They will then apply for a Mining Licence Application which is submitted to Commissioner of Mines in Namibia for approval.


----------



## chris1983 (5 March 2007)

Halba said:
			
		

> Agreed chris. You have a sound mind and focus on the positives. Good on you. You never panic in a correction which is good to see, and believe in what you invest in.




Thanks Halba..but I did panick in the last correction.  One mistake that cost me.  Bought FXR at 81 cents two days before the correction really started to hit home..They later fell to the mid 50's then when they rebounded back to the mid 60's I got out.  Months later they ran to a high of 1.98.  There will be no panick from me this time.  I'll just take the hits and let my shares ride it out.  I cant sell anyway.  If I sold now I have to pay just as much tax as what the correction will hit me with because I havn't held my stocks for over 12 months yet.  Something to also consider for the guys sitting on large profits.


----------



## Halba (5 March 2007)

We are very similar. I bought FXR just before the correction @ $1.00. However i sold it when it reached about 1.04 a coupla months into the recovery, only a few thousand shares. 

Yep just remember BMN if they reach their target jorc of about 50-60mil pounds in that report, by the end of the year, their mkt cap should be close to $1billion dollars if SMM price is any guide.....

New RC drill rigs coming this month will aid in the drill out

Not too many companies have a 50-60mil pound jorc esp in mining favourable countries so a premium should be placed on this (obviously this correction will hopefully be forgotten by then)


----------



## captjohn (5 March 2007)

Whew  !!..........well I think it's finally bottomed out for the day !!....I couldn't help myself by using my CFD a/c to get some more PDN at 8.26....... first time it's dropped 20% for yonks....!!

BMN down 6% .....is to be expected  & maybe lower tomorrow going down to bollinger bands...

AS Halba & chris say, let's just ride it out & keep reading the latest report for re-assurance  coz I'm another  believer in a really large resource on BMN land by year's end !!


----------



## chris1983 (5 March 2007)

Ive got my buy in at 2.45.  Sell me your shares.  The money I made off WMT im putting back into Bannerman


----------



## chris1983 (5 March 2007)

Pulled my order.  Might be able to get them cheaper yet.  If I dont get them Oh well I'll get over it.  Still got my original holding.  I think they are a bargain atm though.  Lets see if anyone else comes in selling closer to the close.


----------



## captjohn (5 March 2007)

chris1983 said:
			
		

> Ive got my buy in at 2.45.  Sell me your shares.  The money I made off WMT im putting back into Bannerman



Chris, I was watching 'depth' & you got'em .....well done ......by another 'bottom fisher'......

Why wait til they're $2.90 to buy with the mob as the MACD crosses upwards !!
.......live on the edge & try to pick the bottom......gives us a reason to get up in the morning ....hahah....one day I won't !!....so I live everyday as if it's  my last !! coff coff !!
captjohn  coff coff


----------



## chris1983 (5 March 2007)

captjohn said:
			
		

> Chris, I was watching 'depth' & you got'em .....well done ......by another 'bottom fisher'......
> 
> Why wait til they're $2.90 to buy with the mob as the MACD crosses upwards !!
> .......live on the edge & try to pick the bottom......gives us a reason to get up in the morning ....hahah....one day I won't !!....so I live everyday as if it's  my last !! coff coff !!
> captjohn  coff coff




Hey captjohn.  Havn't got them yet.  I pulled my order and am still thinking.  jumping in at 2.47 doesnt worry me if its 2 cents.  Theres a lot of scared investors out there atm with the way the markets are travelling so I still have time.  Probably a lot of time.

"thinks thinks thinks"

I sold intec at 21.5 and then I bought WMT at 14.5.  Im considering going back into Intec right now.  MLS is also another on on the radar.  Its hard making the decision on what to buy.


----------



## chris1983 (5 March 2007)

captjohn said:
			
		

> Chris, I was watching 'depth' & you got'em .....well done ......by another 'bottom fisher'......
> 
> Why wait til they're $2.90 to buy with the mob as the MACD crosses upwards !!
> .......live on the edge & try to pick the bottom......gives us a reason to get up in the morning ....hahah....one day I won't !!....so I live everyday as if it's  my last !! coff coff !!
> captjohn  coff coff




Maybe I should of got them   This is fun.. haha


----------



## captjohn (5 March 2007)

chris1983 said:
			
		

> Maybe I should of got them   This is fun.. haha




FN Arena says we're in for a volatile week coz lotsa data news coming from U.S. re: their economy......

So  ..Right below BMN SP there is lower Bol.Band at 2.42 & Parabolic ..Stop & Reverse at $2.36...very important support....
 good trading
captjohn


----------



## chris1983 (5 March 2007)

Well I picked em up then bam.  down to 2.43..2.37

All good though. 

I figured Bannerman was the best bet to cover my profits from WMT and if I didn't expect them to go up I would of sold my entire holding by now.  Now we wait.  First time I have ever bought more shares since 48 cents pre share split.  Its a bit quiet on the forum today.


----------



## mmmmining (5 March 2007)

chris1983 said:
			
		

> Pulled my order.  Might be able to get them cheaper yet.  If I dont get them Oh well I'll get over it.  Still got my original holding.  I think they are a bargain atm though.  Lets see if anyone else comes in selling closer to the close.



I am think to send a buy order at $2.20, or should I take another day off?


----------



## chris1983 (5 March 2007)

mmmmining said:
			
		

> I am think to send a buy order at $2.20, or should I take another day off?




Its up and down..up and down atm.  They just quickly hit 2.46. Now back to 2.37

I pretty much got them because if the DOW has another "recovery" day they should head back up tomorrow.  If not they could fall a little more to the 2.20's support area.  In the end I concluded BMN was a good way to cover my profits from WMT but also see some good gains in the medium term.  Hard decisions isn't it.


----------



## Halba (5 March 2007)

Get off the screens mmining this is not pretty.

I'm back to november position.


----------



## UraniumLover (5 March 2007)

2.37 as we speak.  I'm fishing at 2.20 at the moment but BMN doesn't like those waters yet.


----------



## nizar (5 March 2007)

Halba said:
			
		

> Get off the screens mmining this is not pretty.
> 
> I'm back to november position.




Me too. Im not back to november position but im feeling the pain.
Gonna wait until the market has resumed an uptaken a trend before taking any more positions.
WMT mite be the exception if it closes at or above 20c.


----------



## captjohn (5 March 2007)

chris1983 said:
			
		

> Well I picked em up then bam.  down to 2.43..2.37
> 
> All good though.
> 
> I figured Bannerman was the best bet to cover my profits from WMT and if I didn't expect them to go up I would of sold my entire holding by now.  Now we wait.  First time I have ever bought more shares since 48 cents pre share split.  Its a bit quiet on the forum today.




Grrr.....my BMN a/c balance dropped $50,000 -ish today coz I've got 200,000 shares.......but the old saying ...it's not a loss until ya actually sell 'em .... & I' don't intend too ..

It's just a good opportunity to get more top stocks & I reckon PDN are a great buy at near  low $8 -ish....


----------



## chris1983 (5 March 2007)

captjohn said:
			
		

> Grrr.....my BMN a/c balance dropped $50,000 -ish today coz I've got 200,000 shares.......but the old saying ...it's not a loss until ya actually sell 'em .... & I' don't intend too ..
> 
> It's just a good opportunity to get more top stocks & I reckon PDN are a great buy at near  low $8 -ish....




You got a huge holding captjohn.  Short term pain is all we will endure.  AOE have held up excellently today too.  I liked WMT but I couldnt resist the profit to help in holding my fund up.


----------



## UraniumLover (5 March 2007)

nizar said:
			
		

> Me too. Im not back to november position but im feeling the pain.
> Gonna wait until the market has resumed an uptaken a trend before taking any more positions.
> WMT mite be the exception if it closes at or above 20c.




I agree. No more positions until all ords show's an uptrend. Reading AXO Analysis thread it seems 5650 ish is a support level. Currently we are 5690 so 
don't think 2.20 will occur today. There may be some more downward movement in BMN until 5500 support levels are reached - lower i hope not
I've cashed up to hit over sold stocks hard once all ords turns around.


----------



## Sanhedrin (5 March 2007)

Chris BLR seems to of held up very well in this correction, any comment?


----------



## LifeisShort (5 March 2007)

I'm rushing to sell my car and house so hopefully by the end of the week I can get them at under $2. This correction might turn into something bigger......But like good old Warren Buffet used to do....if you believe in the story keep it for long term cause thats why you got into it in the first place...unless you are a day trader


----------



## UraniumLover (5 March 2007)

What if you're a position trader?


----------



## UraniumLover (5 March 2007)

My gosh now down 20.11%. I see dollar signs in my eyes all the the way to the bank.


----------



## captjohn (5 March 2007)

UraniumLover said:
			
		

> My gosh now down 20.11%. I see dollar signs in my eyes all the the way to the bank.




I presume you're referring to Marathon....last week they paid over 4 bucks & now $3-ish.....see it's gone up too quick in last 3 weeks & no support levels to work to....just transferred $$$$ into my cfd A/C .....will go after more PDN tomorrow....  BMN holding on O.K. considering!! captjohn


----------



## Joe Blow (5 March 2007)

This thread is for the discussion of BMN. 

Please lets keep discussion of other stocks to their respective threads. Off topic posts may be removed without notice.


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## UraniumLover (5 March 2007)

I would hold your horses captain john until all ords corrects itself. Like Kennas the moderator stated the all ords is a cutting knife. Especially if your dealing in large parcels like you seem to be.


----------



## captjohn (5 March 2007)

Joe Blow said:
			
		

> This thread is for the discussion of BMN.
> 
> Please lets keep discussion of other stocks to their respective threads. Off topic posts may be removed without notice.




Sorry Joe, but sometimes its hard to talk about BMN objectively without  comparing it's performance to other uranium stocks .......  cheers captjohn


----------



## Joe Blow (5 March 2007)

captjohn said:
			
		

> Sorry Joe, but sometimes its hard to talk about BMN objectively without  comparing it's performance to other uranium stocks




Of course. As long as BMN is the focus of each post in this thread I'm happy. I have nothing against comparisons with other stocks being made, but I do object to posts in the BMN thread that do not mention BMN at all. Posts that just discuss another stock should be posted in the thread for that stock.

Lets keep the discussion focussed and on topic.


----------



## nsitt (5 March 2007)

whats with these strange bid/offers atm. we have Bid at 2.44 and Offer at 2.04! all on very low volume. Are these dummy bids or are se just seing a few short coverings?


----------



## Broadside (5 March 2007)

nsitt said:
			
		

> whats with these strange bid/offers atm. we have Bid at 2.44 and Offer at 2.04! all on very low volume. Are these dummy bids or are se just seing a few short coverings?




It's the after market matching, b/w 4pm and 4.10pm it doesn't mean much except the seller wants out at the highest bid.


----------



## captjohn (5 March 2007)

nsitt said:
			
		

> whats with these strange bid/offers atm. we have Bid at 2.44 and Offer at 2.04! all on very low volume. Are these dummy bids or are se just seing a few short coverings?




Yes 3 seconds before market closed some turkey bought 20 shares @$2.48.....to ramp up offer price at market match up between 4 pm & 4.10pm......actually BMN fared well @ $2.42 closing price......compared with MTN & PDN ...I know that PDN has a lot of CFD investors that are getting sold off quicksmart.....Two of my friends had the 'dreaded' phone call ....to sell off or they will do it!!!


----------



## LifeisShort (5 March 2007)

captjohn said:
			
		

> Yes 3 seconds before market closed some turkey bought 20 shares @$2.48.....to ramp up offer price at market match up between 4 pm & 4.10pm......actually BMN fared well @ $2.42 closing price......compared with MTN & PDN ...I know that PDN has a lot of CFD investors that are getting sold off quicksmart.....Two of my friends had the 'dreaded' phone call ....to sell off or they will do it!!!




Imagine you are a newcomer to the market.....seeing seas of red....BMN luckily has had 3 months of consolidations so its holding better than others. The only sellers I'd imagine would be those who had to and those who have no idea what they are doing and are following others. I see sales galore....this is like christmas....presents all over the place.....saying that HANG SENG is down 3% at the moment so we might see further massacre tomorrow


----------



## Sean K (5 March 2007)

LifeisShort said:
			
		

> this is like christmas......so we might see further massacre tomorrow



Just had to put these two statements together. Classic.   

Perhaps like Christmas after the massacre tomorrow???


----------



## UraniumLover (5 March 2007)

kennas said:
			
		

> Just had to put these two statements together. Classic.
> 
> Perhaps like Christmas after the massacre tomorrow???



Kennas ..  I must hand it to you.. all ords knife is master..  that's why I took day off today to minimise loses and attack on all fronts on recovery ..


----------



## captjohn (5 March 2007)

UraniumLover said:
			
		

> Kennas ..  I must hand it to you.. all ords knife is master..  that's why I took day off today to minimise loses and attack on all fronts on recovery ..




Boy oh boy....Yes quite a day.....Bannerman has been consolidating for over 5 weeks so not that volatile, unlike PDN & MTN....
I'm worn out with 3 computers going & phone calls/emails from investor mates......compared with a week or so ago was nearly falling asleep watching SP.

FN Arena's Tech Wizard says it's just a healthy correction... not a Crash...... so there.
We'll see what happens tomorrow.

Read BMN's latest report to cheer yourself up.. captjohn


----------



## the barry (5 March 2007)

Am amazed at how well Bannermans share price is holding up in relation to the rest of the market. BMN chose a good month to consolidate before heading into this correction. However, I don't think we have seen the worst of this correction, with some further bloodletting to come. Whilst I thought previously that the 2.35 mark would be the resistance point, would not be surprised to see BMN in the mid 2.20's at some point in the near future.


----------



## UraniumLover (5 March 2007)

captjohn said:
			
		

> Boy oh boy....Yes quite a day.....Bannerman has been consolidating for over 5 weeks so not that volatile, unlike PDN & MTN....
> I'm worn out with 3 computers going & phone calls/emails from investor mates......compared with a week or so ago was nearly falling asleep watching SP.
> 
> FN Arena's Tech Wizard says it's just a healthy correction... not a Crash...... so there.
> ...




I see another 30+ gain after this shocking correction. Mar, Apr positive .. May well .. watch out. When did the US follow the Chinese? A change in world order.


----------



## chris1983 (5 March 2007)

UraniumLover said:
			
		

> I see another 30+ gain after this shocking correction. Mar, Apr positive .. May well .. watch out. When did the US follow the Chinese? A change in world order.




I think we will see Bannerman pick up even if the correction continues.  They are pretty much due for some results and IMO they will be good.  I thought they are due for results soon?  Maybe this is the reason for them holding up better than other U stocks in the market today?

We are still waiting on the results from drillholes GARC002 to GARC005


----------



## nizar (5 March 2007)

chris1983 said:
			
		

> I think we will see Bannerman pick up even if the correction continues.  They are pretty much due for some results and IMO they will be good.  I thought they are due for results soon?  Maybe this is the reason for them holding up better than other U stocks in the market today?
> 
> We are still waiting on the results from drillholes GARC002 to GARC005




Good results will be wasted in this market.
Hopefully they can release them when the bull has returned.


----------



## the barry (6 March 2007)

the barry said:
			
		

> Am amazed at how well Bannermans share price is holding up in relation to the rest of the market. BMN chose a good month to consolidate before heading into this correction. However, I don't think we have seen the worst of this correction, with some further bloodletting to come. Whilst I thought previously that the 2.35 mark would be the resistance point, would not be surprised to see BMN in the mid 2.20's at some point in the near future.




Topped up at 2.27 this morning, am happy with this. Don't think there is too much consolidation left.


----------



## Rafa (6 March 2007)

nizar said:
			
		

> Good results will be wasted in this market.
> Hopefully they can release them when the bull has returned.




Spot On


----------



## captjohn (6 March 2007)

the barry said:
			
		

> Topped up at 2.27 this morning, am happy with this. Don't think there is too much consolidation left.




Well done barry...that's the way to trade.......Surprized to see BMN go down myself this A.M. but know it'll bounce up by days end.....I'm happy too got PDN @7.73 earlier on CFD's....as most of my $$$ tied up in BMN, EXT, ERN.
captjohn


----------



## ekman (6 March 2007)

help - i have bought some BMN oppies few months' back. how do i pay for 'em before may as i don't have any forms etc that i would have got from the company when the oppies were registered (u know what i mean). thanks in advance


----------



## the barry (6 March 2007)

captjohn said:
			
		

> Well done barry...that's the way to trade.......Surprized to see BMN go down myself  this A.M. but know it'll bounce up by days end.....I'm happy too got PDN @7.73 earlier  on CFD's....as most of my $$$ tied up in BMN,ext.ern.
> captjohn




They say great minds think alike, lol. I swapped my acb's into paladin at 7.60 yesterday. Rapt to get both at these levels.


----------



## mmmmining (6 March 2007)

Namibia round:

BMN 2.34 down 8c
ERN 0.55 from low 0.51
EXT 0.098 down 0.1c
DYL: 0.365 up 2c
WME: 0.155c

What happened to BMN? the under-performer in the group.


----------



## Halba (6 March 2007)

Yep its been a slow yr for bmn so far.


----------



## chris1983 (6 March 2007)

mmmmining said:
			
		

> Namibia round:
> 
> BMN 2.34 down 8c
> ERN 0.55 from low 0.51
> ...




under-performer? hmm.

I bought BMN last year during early april and then it started its amazing rise.  Its not even April yet..so I dont really care what it does atm.  As long as they keep reporting good grades, depths it will eventually reflect in the share price.


----------



## Broadside (6 March 2007)

ekman said:
			
		

> help - i have bought some BMN oppies few months' back. how do i pay for 'em before may as i don't have any forms etc that i would have got from the company when the oppies were registered (u know what i mean). thanks in advance




Call the share registry they should be able to assist you.


----------



## angela200172 (6 March 2007)

the barry said:
			
		

> Topped up at 2.27 this morning, am happy with this. Don't think there is too much consolidation left.




I have topped up BMN 20000 at  2.28 this morning, and also bought PDN 10000 CFD at 7.78, sold at 8.20, I have BMN for long time hold, PDN for day trade. I am happy today


----------



## Sean K (6 March 2007)

angela200172 said:
			
		

> I have topped up BMN 20000 at  2.28 this morning, and also bought PDN 10000 CFD at 7.78, sold at 8.20, I have BMN for long time hold, PDN for day trade. I am happy today



Dangerous game Angela. Hope the overnight markets are good to you and we have seen the bottom. Corrections don't normally go like this though. Hope you have an exit strategy too. Good luck.


----------



## chris1983 (6 March 2007)

kennas said:
			
		

> Dangerous game Angela. Hope the overnight markets are good to you and we have seen the bottom. Corrections don't normally go like this though. Hope you have an exit strategy too. Good luck.




Long term it isn't a dangerous game at all.  She said it was for a long term hold.  I think Long term BMN will size up a good resource and the fundamentals against uranium stocks still look good.


----------



## Sean K (6 March 2007)

chris1983 said:
			
		

> Long term it isn't a dangerous game at all.  She said it was for a long term hold.  I think Long term BMN will size up a good resource and the fundamentals against uranium stocks still look good.



Maybe I'm been a bit too cautious. We'll see. BMN and PDN are great U plays. Just not sure where fair value is....market will tell us over the next few weeks.


----------



## Halba (6 March 2007)

kennas i don't see many companies with any sizeable u resource around. bmn is good enuff for a major long term, if it goes down it'll get taken over

20,000 shares fair enuff angela, but not too sure about your risky day trade (10,000 pdn) . I hope you are profitable on your day trades long term. I have never met or heard of a profitable day trader. 

I bought 750 pdn yest and that was risky enuff


----------



## chris1983 (6 March 2007)

kennas said:
			
		

> Maybe I'm been a bit too cautious. We'll see. BMN and PDN are great U plays. Just not sure where fair value is....market will tell us over the next few weeks.




Its so hard to determine fair value though.  You may miss the day when it is fair value if you wait on the sidelines.  You can wait for the day when it rebounds off support levels though which is probably what you do.  atm BMN is sitting around support levels.  I think if we saw increased activity and SP movement to 2.50 its time to get in.  Some like trying to pick the bottom though and also buy around the support levels waiting for that bounce..instead of buying on the trend reversal.


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## Halba (6 March 2007)

I have enough of these personally.

Am just going to stay put, am only interested in what the sp is in 6,12,18 months.

If it goes below $2 I will jump in a bit, thats if its ridiculous.


----------



## jj0007 (6 March 2007)

This "correction" is just what the doc ordered.  It is placing all the TA indicators back into the buy territory.  It has been a while since the RSI dipped under 50 (i think last time was at 30c mark).  RSI has now dipped under 40 with SP still sitting pretty at $2.30.  You'd be pretty silly or desperate to sell IMHO.


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## angela200172 (6 March 2007)

Halba said:
			
		

> kennas i don't see many companies with any sizeable u resource around. bmn is good enuff for a major long term, if it goes down it'll get taken over
> 
> 20,000 shares fair enuff angela, but not too sure about your risky day trade (10,000 pdn) . I hope you are profitable on your day trades long term. I have never met or heard of a profitable day trader.
> 
> I bought 750 pdn yest and that was risky enuff




Halba, I bought PDN at 7.78  and sold at 8.20   profitable for PDN trade, but I have bought 20000 as 2.68 last week, and topped up 20000 at 2.28, I beliver BMN will be very good for long term.


----------



## captjohn (6 March 2007)

Angela...Good on ya !.....great trade  ..that's using CFD's properly.....for PDN  ...& getting  a parcel of BMN ..I like your style....I did similar on PDN....but reckon there's heaps of upside in months to come......

Regarding BMN .....it seems to be between a rock & a hard place right now...getting expensive as a pure speckie....so we need an announcement but not today while people are still nervous about buying in....If U.S. rises a bit we're O.K.

We all know the reserves that BMN will confirm in months ahead so sit back for the ride up !!
captjohn


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## mmmmining (6 March 2007)

chris1983 said:
			
		

> under-performer? hmm.
> 
> I bought BMN last year during early april and then it started its amazing rise.  Its not even April yet..so I dont really care what it does atm.  As long as they keep reporting good grades, depths it will eventually reflect in the share price.



Chris, you like a hen protecting your golden eggs. LOL.

Well, it is a fact that BMN is a under-performer so far today, so it gives a golden opportunity to jump on this if other conditions are the same. I mean so far today only, not rest of today, yesterday, and not tomorrow.


----------



## Halba (6 March 2007)

ok angela buying and adding BMN is fine, but I'm wondering what you would have done if the PDN reversed the other way? I mean 10,000 shares, if it fell 20c thats $2000 loss??

Don't know whether this is profitable and u can be lucky, but luck averages out over time.


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## nsitt (6 March 2007)

angela200172 said:
			
		

> Halba, I bought PDN at 7.78  and sold at 8.20   profitable for PDN trade, but I have bought 20000 as 2.68 last week, and topped up 20000 at 2.28, I beliver BMN will be very good for long term.




angela what CFD broker do you use?


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## mmmmining (6 March 2007)

Halba said:
			
		

> ok angela buying and adding BMN is fine, but I'm wondering what you would have done if the PDN reversed the other way? I mean 10,000 shares, if it fell 20c thats $2000 loss??
> 
> Don't know whether this is profitable and u can be lucky, but luck averages out over time.




Halba, you are a terrible reader (sometimes might get you into trouble  ). Angela wrote that she have sold her PDN CFD at $8.20 today, there is no other way today for her at least, or you will never heard of.


----------



## chris1983 (6 March 2007)

mmmmining said:
			
		

> Chris, you like a hen protecting your golden eggs. LOL.
> 
> Well, it is a fact that BMN is a under-performer so far today, so it gives a golden opportunity to jump on this if other conditions are the same. I mean so far today only, not rest of today, yesterday, and not tomorrow.




Yes I have to protect them to make others see the light.


----------



## Halba (6 March 2007)

mmmining I read what she said. She is lucky the outcome is positive. I would seriously reconsider risk mngmt guidelines if trading 10,000 PDN on an intraday basis.

Also angela are you profitable long term choosing this day trade path?


----------



## captjohn (6 March 2007)

Halba said:
			
		

> mmmining I read what she said. She is lucky the outcome is positive. I would seriously reconsider risk mngmt guidelines if trading 10,000 PDN on an intraday basis.
> 
> Also angela are you profitable long term choosing this day trade path?




Halba...What's wrong with you !!...Angela just made a quick $5000 plus..... in  2 hours (or less)...blind freddy could see PDN oversold with RSI below 30 (actually27)..on opening this A.M. The  ASX SPI was up 30 points overnite.....so what more do you want to buy in......

I did same thing but didn't sell ..My risk management is having my finger on the "sell" button to press if SP drops below last nite's close..... it didn't so now I'm $6,000 up.
Angela has more BMN at a good average price.....ready for the next announcement......
captjohn


----------



## Broadside (6 March 2007)

Halba said:
			
		

> mmmining I read what she said. She is lucky the outcome is positive. I would seriously reconsider risk mngmt guidelines if trading 10,000 PDN on an intraday basis.
> 
> Also angela are you profitable long term choosing this day trade path?




It's a good trade, and like any trade there are no guarantees whether your time frame is 5 minutes or 5 years...maybe Angela had a stop loss in place or maybe she has good instincts...anyway kudos to her.  

I should mention BMN so this post doesn't get deleted...hmmm I am glad I got in a $1.00 pre split buying in today would be a much tougher decision, I agree with captjohn...it is now highly valued and needs to back it up with strong results so we can push up to the next level.


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## sydney1963 (6 March 2007)

All agree that angela did a good trade, can anyone tell us why BMN does not take off like some u shares.
It is good price to top up [$2.3].


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## Halba (6 March 2007)

Angela hasn't answered my question re: her profitability over the long term.
Plz note moderators concerns re: such postings - they are unverifiable and serve no purpose on this BMN thread!!


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## Broadside (6 March 2007)

Halba said:
			
		

> Angela hasn't answered my question re: her profitability over the long term.
> Plz note moderators concerns re: such postings - they are unverifiable and serve no purpose on this BMN thread!!




geez give her a break all she said was she put money from a PDN day trade into BMN, it worked for her so good luck to her, and if she does or doesn't consistently make money why should she have to answer unless she wants to halba?


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## sydney1963 (6 March 2007)

As a holder for both BMN & MTN, I found that both lost 19% for the last week
BMN [2.85 to 2.3] and MTN [4.07 to 3.30]. So they move together.


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## Halba (6 March 2007)

I just feel such posts serve no purpose on this BMN thread that is all. re: unverifiability and whether she makes that everyday. It looks like she fluked it.


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## Joe Blow (6 March 2007)

Halba is correct.

Stock threads are for three things - information, news and analysis on the stock at hand... in this case BMN. If people want to discuss their holdings or trades, get a blog. As Halba said, these posts are essentially unverifiable and serve no purpose in stock threads other than to clutter them up.

As I have mentioned before, I can accept posts where people mention their holdings/trades, as long as they offer something of value in addition to that.

I should note that this site also offers a live chatroom and a Private Message system people can use to discuss their holdings etc so there really is no excuse for cluttering up stock threads with this kind of information.


----------



## Go Nuke (6 March 2007)

Well I borrowed cash to buy into BMN at $2.63....so of course...im not too happy right now
Actually I blew all 10k 2 weeks ago..so im really not happy!
Ive sold nothing. Just got to hang in there and wait for it to head back up again.

My my...how I wish I had money to buy more shares at this wonderous time for buying 
How am I ever going to buy a house with shares going backwards! lol

Live and learn I suppose.


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## Halba (6 March 2007)

Hi nuke it is alright. I have a lot of holdings in this but now I have learnt: diversification is the best strategy of all. The essence of diversification is that you have holdings spread elsewwere, so that when BMN consolidates we can have holdings doing better elsewhere.

Lesson learnt. Over and out.

I get the impression that lab delays are impacting severely on the progress on BMN, SMM, AGS and MTN. So much so I am prepared to cut my price expectations for this year as they may not jorc much in time. As one poster mentioned on this thread, if they are giving 1 batch of drill result per 2 months then they will be lucky to mine in the next 4-5 yrs. This is because they need to do about 60-70 holes to complete the JORC imho.


----------



## captjohn (6 March 2007)

IMO....
Bannerman's SP  will stay in this price channel range until such time that a significant announcement is made confirming a large resource in Anomoly A.

Otherwise why on earth  should the  stock broker type investor/traders start paying up to & over $3 plus for  a "maybe resource"...Would you ?? 

We got the upgrade from DJC's recently to $5.70 ,conditionally, thatis, when & only when the reserves are confirmed to 200 plus metres.!!!  O.K.!!

Also realise  we are still  in a down hill correction & it's certainly not over yet while U.S. are getting unsettled about their own economy...fingers crossed for tonite that they steady up to stop falling...When it turns up a bit.

Then normally it's the bigger ships that rise first on the tide.     ie BHP PDN  etc & others in the S&P 50,100,200.. it's very volatile  action coz  bulls & bears are selling long & short ....personally I love it.... but right now PDN certainly has better fundamentals than BMN.....we are still an expensive ("Speckie")....until confirmation from the company  that we are turning into a bigtime miner....  just watch the SP go thru the roof then  !!

 ...Words of wisdom  from Captjohn


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## angela200172 (6 March 2007)

nsitt said:
			
		

> angela what CFD broker do you use?




I use Etrade and Man, they both are very good, I traded PND used CFD a/c today, for short term trade I always use CFD.


----------



## Halba (6 March 2007)

Spoke to BMN director (I have some pull)

BMN is only positive.

They don't want to release 1 drill result at one time.

They want to release a fair few results in one big lot...to aid in interpretation rather than releasing a few bits and pieces.

Drilling is progressing about 100m a day. 

They are also aiming at drilling some other anomalies this year. 

Additionally more RC drilling rigs will help speed up drilling.

Slow progress but it is progressing.

Swakop River drill results showed no uranium (yet - more work required) so focussing on goanikontes.


----------



## the barry (6 March 2007)

Halba said:
			
		

> Spoke to BMN director (I have some pull)
> 
> BMN is only positive.
> 
> ...




Did they give you an indication of when the next announcement will be???


----------



## Halba (6 March 2007)

Nup couldn't give that but I guess they will release when they are ready. He mentioned I am not the only shareholder pressing for results, but they want it properly interpreted and done before release i.e. release a section of the deposit rather than individual holes.


----------



## the barry (6 March 2007)

Halba said:
			
		

> Nup couldn't give that but I guess they will release when they are ready. He mentioned I am not the only shareholder pressing for results, but they want it properly interpreted and done before release i.e. release a section of the deposit rather than individual holes.




Thanks anyway mate.


----------



## Go Nuke (6 March 2007)

Halba said:
			
		

> Hi nuke it is alright. I have a lot of holdings in this but now I have learnt: diversification is the best strategy of all. The essence of diversification is that you have holdings spread elsewwere, so that when BMN consolidates we can have holdings doing better elsewhere.
> 
> Lesson learnt. Over and out.
> 
> I get the impression that lab delays are impacting severely on the progress on BMN, SMM, AGS and MTN. So much so I am prepared to cut my price expectations for this year as they may not jorc much in time. As one poster mentioned on this thread, if they are giving 1 batch of drill result per 2 months then they will be lucky to mine in the next 4-5 yrs. This is because they need to do about 60-70 holes to complete the JORC imho.




yep well my other main holdings are HLX,AGS,ERN and CUV...and other bits and pieces elsewhere..SMM etc 

Thanks Halba


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## mmmmining (6 March 2007)

Good job, Halba. I think today's price action is because it held up pretty well yesterday when MTN, SMM and PDN were smashed. 

People might switch some from BMN to other uranium stocks, such as PDN, MTN, AGS...


----------



## nizar (6 March 2007)

Halba said:
			
		

> Spoke to BMN director (I have some pull)




Halba if you dont mind me asking, are you top 20?


----------



## Halba (6 March 2007)

nup nizar not that big! but fairly big for what i'm normally accustomed to.

i just made a courtesy call but i get the impression i'm not the only one pressing for results. They seem to be on the ball which is a plus. Pity swakop river was a dud(for now) i guess just focus on Anomaly A and other recon drilling in other targets just to prove those anomalies = U


----------



## chris1983 (6 March 2007)

Halba said:
			
		

> nup nizar not that big! but fairly big for what i'm normally accustomed to.
> 
> i just made a courtesy call but i get the impression i'm not the only one pressing for results. They seem to be on the ball which is a plus. Pity swakop river was a dud(for now) i guess just focus on Anomaly A and other recon drilling in other targets just to prove those anomalies = U





Halba the swakop river epl is huge.  They are just concentrating a lot more on Goanikontes atm which is the right thing to do.  I think they made it clear from the presentation released last month that they havn't had any success there yet.  They state that most of the drilling there failed.

*Swakop River Drilling*

_Aircore and RC drilling conducted in late 2006.

Drilling aimed at locating and profiling palaeodrainage channels likely to host uranium mineralisation.

Drilling mostly failed to reach basement. Further work required._


----------



## chris1983 (6 March 2007)

Ok I got bored so here are my estimates

Initial drilling of the resource is over an area of 1.7 km as they state on their presentation.  See below.

*“Interim Resource over 1.7km to 70m at Anomaly A followed by Resource to ~250m”*

They don’t give you the width but if you look over the presentation they give you their planned drilling area for the Interim Resource.  You can work out the width from the scale on the bottom of the image.  The width is 1km.  See image below

(See Image)

Now Lets work out the initial resource to a depth of 70 meters.

*1700x1000x70 = 119000000 Cubic Meters*

You now need to convert the cubic meters to tones and it is 2.4 tonnes per cubic meter. So if we continue we will have

*285600000 tonnes*.  Convert this tonnage to uranium we then multiply this figure by 0.03 which is the average grade of 300ppm it comes to *8.568 million tones* of uranium.

Now..we also have depth extensions confirmed.  They plan to have a resource to follow the interim resource to a depth of 250 meters.  This works out to

*1700x1000x250 = 425000000 Cubic Meters*

Which equals *1020000000 Tonnes* which equals *30.6 Million tones* of uranium

That’s a huge resource.  It’s a large resource even if they confirm it over half the area so I think we will see huge rises to come if the future results continue to confirm depth extensions.  Maybe this is why the company and directors are being extremely careful with it all because there will be some huge rises to come once it is all confirmed.  If you worked out the inground value off 30 million tones it would be approx  *5.6 Billion dollars inground value off current prices of 85 dollars a pound*.  That’s a larger initial resource than Paladins Langer Heinrich deposit.  That’s something for you all to think about.


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## chris1983 (6 March 2007)

I just read over the recent carmichael report and to me it looks like similar figures.  I'm not selling anytime soon.  I'm pretty happy with my accumulation yesterday.  Sometimes its better to work out the figures yourself.  Makes you believe in the company more


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## mmmmining (6 March 2007)

chris1983 said:
			
		

> *285600000 tonnes*.  Convert this tonnage to uranium we then multiply this figure by 0.03 which is the average grade of 300ppm it comes to *8.568 million tones* of uranium.
> 
> *1700x1000x250 = 425000000 Cubic Meters*
> 
> Which equals *1020000000 Tonnes* which equals *30.6 Million tones* of uranium




Chris, you mess up ton and lb, Olympic Dam only have less than 1.8 mt U3O8


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## nizar (6 March 2007)

chris1983 said:
			
		

> That’s a huge resource.  It’s a large resource even if they confirm it over half the area so I think we will see huge rises to come if the future results continue to confirm depth extensions.  Maybe this is why the company and directors are being extremely careful with it all because there will be some huge rises to come once it is all confirmed.  If you worked out the inground value off 30 million tones it would be approx  *5.6 Billion dollars inground value off current prices of 85 dollars a pound*.  That’s a larger initial resource than Paladins Langer Heinrich deposit.  That’s something for you all to think about.




And 10% of that is 560million.
Current market cap is $177million.

Heaps of upside similar to MTN.


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## chris1983 (6 March 2007)

oh yeah. you know what I mean though right. Too many numbers running through my head. Looks good doesnt it.  Im just going through some of the images etc.  They look better next to one another..gives you some better insight to what they could have.  They show the planned drilling area..and this is the area which has been historically drilled.  A lot of significant hits were made in those historic drills.  Maybe this is why Nathan Mcmahon didn't waste any time buying the shares up when they were 2.70.  Nice warm thoughts come to me as they continue to hit mineralisation around the dome.


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## chris1983 (6 March 2007)

nizar said:
			
		

> And 10% of that is 560million.
> Current market cap is $177million.
> 
> Heaps of upside similar to MTN.




MTN look good too.  I just had a look at what they have.  I just dont like the political instability of Australia and the whole negativity towards uranium mining.  It hasn't stopped Australian uranium explorers from going through the roof though.  Im thinking of picking up TOE for my uranium play in Aus.


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## Halba (7 March 2007)

I like this pictures and analysis chris. Just need to apply 0.03% instead of 0.03 (the decimal number).

Thats quite a lot of tonnage though. However i think the drill hole density factor is 3.5. So the tonnage is about over 300mT @ 0.025-0.035% assuming 250m depth?

Just as a comparison LH is 17mT reserves @ 700ppm. 

Thats quite large if it happens. I am aiming conservative. Mngmt itself are conservative and carefully word their releases IMHO. This one and ERN mngmt look top class and rearing to go. Let them take their time.


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## captjohn (7 March 2007)

G'morning, this is more like it....& see that Chris has been doing home work on estimates ..will read later on as busy watching stocks...pleased bmn has jumped a little   captjohn


----------



## chris1983 (7 March 2007)

Carmichael have got their price valuations spot on IMO.  Waiting game now for more results so the market will believe the story like we do.


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## captjohn (7 March 2007)

Well done Chris,

 maybe the market spies read your estimates  last nite !....bmn now up 8%

based on your value of resources it increases SP (by capitalisation) by factor of 4.  ..so $10 a share is approx.value within this year......providing drilling keeps positive.....  is that correct in theory ??

I sailed the world on my yacht..using a sextant  but not as good as you fellahs with mining terminology....but I'm trying to learn.
Anyway Chris your figures are now locked in for that dinner...& by then if SP is $10....I'll buy the restaurant in Perth.  Maybe that one that Burkie likes...feed him rat poison & he'd ask for more!! hahah
captjohn


----------



## the barry (7 March 2007)

Nice to see it back at the 2.50 mark. Would like to see it consolidate at this price for a while.


----------



## Halba (7 March 2007)

Back to 2.50. Well it wasn't low for long.


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## chris1983 (7 March 2007)

Hey guys yeah it looks like it could be really big.  They are only drilling out the little area shown on the map which contains most of the historic drilling values which is *(Section 94)*.  Section94 is shown on the map with the Initial resource area and its only such a small area on the anomoly.  Most of this area has been drilled and uranium is proven so I think we can sit back..relax and just wait untill they drill it out.  The resource was there back in the late 70's but didnt go ahead with it due to the declining uranium prices.  Bannerman is a gift from up above


----------



## captjohn (7 March 2007)

the barry said:
			
		

> Nice to see it back at the 2.50 mark. Would like to see it consolidate at this price for a while.




The positive of 6 weeks consolidation is that......it has allowed the "very important indicator'  ..the MACD....to  gradually drop down back to the zero line !!

This now allows lots & lots of upward SP increases  before getting into the 'oversold' zones.... thatis SP could possibly double before a major correction is necessary.
Consolidations in Oct. & Dec. allowed MACD to retrace  also....but this time it's a bit more...so technically we're in great shape....for further increases from an announcement..

captjohn


----------



## Sean K (7 March 2007)

captjohn said:
			
		

> thatis SP could possibly double before a major correction is necessary.
> captjohn



John, this a highly contentious statement. sp could double because the MACD has come back to the signal line of the MACD?

Actually, this is a bearish signal. 

From Stockcharts education:

*Bearish Centerline Crossover*

A Bearish Centerline Crossover occurs when MACD moves below zero and into negative territory. This is a clear indication that momentum has changed from positive to negative, or from bullish to bearish. The centerline crossover can act as an independent signal, or confirm a prior signal such as a moving average crossover or negative divergence. Once MACD crosses into negative territory, momentum, at least for the short term, has turned bearish. 

http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve

So, BMN crossing down through the centre line is a little concerning as far as TA goes.

Needs to break back though 250 positively for there to be a shift in momentum from down. Long term it's still obviously up, but this could fail with a fall through the blue support line, and not breaking back clearly over what might now be 250 resistance.

So, claiming that a doubling of the sp is possible on the charts from here is only slightly fanciful.


----------



## Halba (7 March 2007)

Yep unlikely double this year. Based on 20mil pound or so initial jorc and possible 57-60 i think perhaps $500m mkt cap is possible, or roughly 40% return from current, or about 3.50 sp.

It's good to be conservative but thats how much I expect.


----------



## sydneysider (7 March 2007)

kennas said:
			
		

> John, this a highly contentious statement. sp could double because the MACD has come back to the signal line of the MACD?
> 
> Actually, this is a bearish signal.
> 
> ...




As u can see a lot of the uraniums are looking like they have radiation sickness from flying too high. Meanwhile there are a lot of gold stocks going very cheaply.


----------



## the barry (7 March 2007)

Have been doing some research and here is what i have come up with,

1. The current valuation of $2.70 by carmichaels is based soley on the annomouly A resource at an inferred depth of 70 meters. This has the potential to increase to $5.70 if the depth can be confirmed to 200 meters like the rossing mine (18 kilometers away). 

2.Present drilling has confirmed intersections to the depth of 250 meters. This also doesn't take into account the potential deposit continuing out to the west, which recent drilling has intercepted. Futhermore, it doesn't take into account the new 15 km target area that has been discovered.

3. Based alone on the above facts, not even including the continual growth of the price of uranium,the potential upside for this stock is huge. The valuation also doesn't take into account the other licenses that the company holds. 

4. Whilst i wouldn't try to put a price on the current value, I believe that this is a 12-18 month hold, and that any corrections such as the other day are further opportunities to pick up a quality stock at bargin prices.


----------



## Halba (7 March 2007)

Back up we go, the market speaks for itself sometimes.


----------



## captjohn (7 March 2007)

Kennas.

Thanx for your great charts....I havn't learnt how to get them onto the forum as yet...........

To answer your remarks!! 
  Firstly,
*History shows the BMN  SP  did in fact double from Dec.06  to Feb.07....... That is $1.50 -ish  to $3 .05....*

Look at your own chart more closely  to confirm.... so it's not a fanciful contentous statement from me.

Secondly  The MACD has not crossed below the zero line by my Powertrade chart. I will check tonite on Metastock.....  

I merely observed that the lines had over 6 weeks retraced back near the zero lines...therefore your quotations about it being a negative convergence are irrelevent. 
And yes ....I would be the first one to agree with you that it's negative(bearish) below the zero line ..so we do agree on that point !
Again I based this on Chris's estimates for total resources etc....& when we get positives from the company re. depths .....the SP will certainly increase...    BMN SP just touched $2.53  ....cheers  captjohn


----------



## professor_frink (7 March 2007)

captjohn said:
			
		

> Kennas.
> 
> Thanx for your great charts....I havn't learnt how to get them onto the forum as yet...........
> 
> ...



I can't believe what I've just read  :dunno: 
Personally, I think you should stick with the funnymentals, and leave the chart gazing alone.


----------



## Sean K (7 March 2007)

captjohn said:
			
		

> Kennas.
> 
> Thanx for your great charts....I havn't learnt how to get them onto the forum as yet...........
> 
> ...



Hi John.

Your chart might be on a different time period which will influence the MAs.

I must note that the old cliche ditched out by fundies that 'prior performance is no indication of future returns' applies to stocks as well. There's tons of examples of stocks flying for a while, only to turn around and head south. To put another angle on your statement, just because BMN went down 50 cents in the past month or so doesn't mean it's going to keep going down the same amount in the next month does it? Doesn't seem logical.

BMN at 254 as I speak, but too early to say whether it's really recovering or not. As with the overall market. If the overall market corrects more, then this will too. As it did last week...

Also, I had to remove the random price target you put in your last post sorry. You just can't do that here without analysis and what you've put up did not wash. Here is Joe's policy on posting targets:

https://www.aussiestockforums.com/forums/showthread.php?t=4118

All the best with BMN. Looks like it will produce a great resource. Will be interesting to see how it goes.


----------



## captjohn (7 March 2007)

sydneysider said:
			
		

> As u can see a lot of the uraniums are looking like they have radiation sickness from flying too high. Meanwhile there are a lot of gold stocks going very cheaply.




They are going cheaply coz the spot 'Gold price has gone down......& they are not 'cheap' if gold drops again tomorrow !!.... Yes or No !!

So why not stick with a commodity that doesn't go down...as yet?!! 
captjohn


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## captjohn (7 March 2007)

Hi Kennas,
Yes maybe so ......my periods are 9,12.26  .....which hasn't gone below zero........and I just tested a quicker period........3/9/16  ..which shows  trigger line crossing up today.......so let's call this a truce ....

And O.K I will shut up about price targets......until resource estimates are confirmed.
And  I will state my favorite cliche  ......."That history repeats itself".....and BMN did double  Dec....to end of Jan.

 thanx for your words of support for bannerman.
kind regards,
captjohn


----------



## Sean K (7 March 2007)

captjohn said:
			
		

> Hi Kennas,
> Yes maybe so ......my periods are 9,12.26  .....which hasn't gone below zero........and I just tested a quicker period........3/9/16  ..which shows  trigger line crossing up today.......so let's call this a truce ....
> 
> And O.K I will shut up about price targets......until resource estimates are confirmed.
> ...



I own it too John, of course I'm going to support you!


----------



## sydney1963 (7 March 2007)

captjohn said:
			
		

> They are going cheaply coz the spot 'Gold price has gone down......& they are not 'cheap' if gold drops again tomorrow !!.... Yes or No !!
> 
> So why not stick with a commodity that doesn't go down...as yet?!!
> captjohn



I support that way of thinking 100%.
Uranium is going up in price,which is the real support for BMN and other u shares.


----------



## mmmmining (7 March 2007)

Glad to see BMN cleared 2.50. I feel $2.5 is a critical level. Maybe Kennas can explain it in a chart.


----------



## Sean K (7 March 2007)

mmmmining said:
			
		

> Glad to see BMN cleared 2.50. I feel $2.5 is a critical level. Maybe Kennas can explain it in a chart.



See post 955 mmmmmmmate. Looks like it's holding above on the daily chart which is positive.


----------



## captjohn (7 March 2007)

Just rec'd letter from DJC's sent to all shareholders.....offering a copy of the latest research report !!
We know it's a positive report so this letter may spark renewed interest from other investors..that don't follow it as close as us.

captjohn


----------



## Halba (7 March 2007)

I think captjohn and me are both overweight so I guess better days ahead.


----------



## Go Nuke (7 March 2007)

Great to see some good debating going on over BMN..lol
Thanks for the charts Kennas.


----------



## captjohn (7 March 2007)

professor_frink said:
			
		

> I can't believe what I've just read  :dunno:
> Personally, I think you should stick with the funnymentals, and leave the chart gazing alone.




Hey Frink,  
Great photo of you ...next to your name....
So just what have you contributed lately to this bmn thread......except stupid remarks !!

Personally, I believe technical analysis(on charts) is exactly where all Share Prices go to whether up or down.

Every SP movement is either heading up to or away from another indicator. You've heard the saying "Buy low.. sell high"......  sounds great!!!
but it's all relative...for example...Jan 3rd. 07 ....SP of bmn $2.46 was considered very "high"...............now today $2.46 is considered buying "low"............How come ??
Coz during the "life" of a Share there are many levels or platforms where share prices jump up to & then level out to & conslidate....it effectively gets everyone used to that price level..........while the moving averages 'catch up' !!

Back in the 90's I was one of the first to join Etrade & later get Powertrade...  In 2002/3 was trading paladin from (wait for it) 5 cents to 10 cents @100,000 to 200,000 a trade & doubled my money.....great at the time..... so bought property ! 
Lately I believe bmn will follow in pdn's footsteps (more or less) so in between time I use charts to trade shares for the extra cream on the top...... you call it funnymentals or stargazing.........but I have the last laugh...... give it a go !!.....even you can do it Professor Frink.  

captjohn


----------



## professor_frink (7 March 2007)

captjohn said:
			
		

> Hey Frink,
> Great photo of you ...next to your name....
> So just what have you contributed lately to this bmn thread......except stupid remarks !!
> 
> ...




It's an interesting view on TA there capt  
The funnymentals remark was referring to fundamentals(though BMN's could be called funnymentals at this stage, because there aren't any....yet)
After reading this post, I'll just have to say ok then, good luck, and I'll slowly back away with a slightly confused look on my face  
Enjoy your time charting, I look forward to reading more of your posts.

Cheers


----------



## angela200172 (7 March 2007)

captjohn said:
			
		

> Hey Frink,
> Great photo of you ...next to your name....
> So just what have you contributed lately to this bmn thread......except stupid remarks !!
> 
> ...




captjohn and chris1983,
I support that way of thinking 100%. and thank you for your valued posts.


----------



## the barry (8 March 2007)

Off and running again today, upto 2.65. Looking good.


----------



## Halba (8 March 2007)

Yep an update on drilling would be coming probably next week.

I believe BMN will update monthly.


----------



## chris1983 (8 March 2007)

When Bannerman run they really run hard and fast.


----------



## captjohn (8 March 2007)

FN Arena news this A.M!

That ERA's Ranger mine in N.T.  is flooded from Cyclonic rain & production stopped for a while.....ERA down 5% on opening on ASX.

Ahhhhh......BMN SP up over that 20 Moving average ....so now MACD  should  crossover  later today or tomorrow & then it's all up, up, up!!


----------



## Halba (8 March 2007)

Thats very positive for u sector and BMN as well.

Could be kicking it.


----------



## the barry (8 March 2007)

captjohn said:
			
		

> FN Arena news this A.M !
> 
> that ERA's Ranger mine in N.T.  is flooded from Cyclonic rain & production stopped for a while.....ERA down 5% on opening on ASX.
> 
> Ahhhhh......BMN SP up over that 20 Moving average ....so now MACD  should  crossover  later today or tomorrow & then it's all up,up ,up  !!




Combine that with the problems that cameco are having with flooding at their mine and all bodes well.


----------



## the barry (8 March 2007)

Massive support on the buy side for bannermans at the moment. Looks good for the consolidation of the stock round the $2.60 mark. 173,000 shares trying to be bought at $2.57.


----------



## chris1983 (9 March 2007)

The buy depth is looking strong atm and seller depth is very weak.  Looks like we could have another very strong day with the market heading in a positive direction.


----------



## Noskcid (9 March 2007)

would be interesting to see where it goes through out the day


----------



## Sean K (9 March 2007)

Chart wise, it's long term up, but short term there's no real direction yet. Descending triangle since late Jan, which might be broken around $2.75. Good price action the past 3 days which has resulted in the MACD just starting to turn. A positive cross looks to be imminent with another good day today, or Monday. Positive move on the stochastics confirming this and it's coming out of been slightly oversold. Seems to be just moving with the market at the moment. Still at risk of falling with the general market IMO, but $2.50 ish looks to be pretty good support now.


----------



## Halba (9 March 2007)

Thanks for the technical update kennas. I agree with your comments. Looks solidly supported and just waiting for the next leg up (or down).


----------



## Go Nuke (10 March 2007)

Yep watch this crossover in the MACD...i think/hope SP its going north


----------



## UraniumLover (11 March 2007)

kennas said:
			
		

> Chart wise, it's long term up, but short term there's no real direction yet. Descending triangle since late Jan, which might be broken around $2.75. Good price action the past 3 days which has resulted in the MACD just starting to turn. A positive cross looks to be imminent with another good day today, or Monday. Positive move on the stochastics confirming this and it's coming out of been slightly oversold. Seems to be just moving with the market at the moment. Still at risk of falling with the general market IMO, but $2.50 ish looks to be pretty good support now.




Excellent analysis Kennas. I don't plan waiting around too long for a break out so will take the fast lane price at 2.75 when the descending triangle may be broken. Mostly likely after announcement. Mean time probably jump on something like NGM which is in outstanding breakout alerts thread using stop loss for bit of action and fun play.


----------



## captjohn (12 March 2007)

fn arena  notice this A.M.  that Uranium Spot price now up to $90 lb.....
Great News...!!Captjohn


----------



## mmmmining (12 March 2007)

captjohn said:
			
		

> fn arena  notice this A.M.  that Uranium Spot price now up to $90 lb.....
> Great News...!!Captjohn




What BMN are waiting for? Very low volume, looking for direction from PDN?


----------



## Go Nuke (12 March 2007)

Yeah I'm not too keen on all this sideways action.
Makes me nervous!


----------



## barney (12 March 2007)

Go Nuke said:
			
		

> Yeah I'm not too keen on all this sideways action.
> Makes me nervous!




Hi GN,  Kennas is much better versed in T/A than I am, and might like to confirm, but personally I would not be too concerned about sideways action in a stock like BMN. Quality longer term U player with heaps of potential upside ......... Comparing to SMM chart a few weeks back which was showing a similar pattern, and now look where it is. I hold a few and will continue to do so .............. Only problem in the short term is a further possible market downturn which may cause the sp to drop a bit further, but no problem for long term holders IMO............. Cheers.


----------



## the barry (12 March 2007)

Interesting to note the similarities of the graph's. Now we just need someone to come in and make an offer. Anyone know when the next drill results are coming out?


----------



## chris1983 (12 March 2007)

the barry said:
			
		

> Interesting to note the similarities of the graph's. Now we just need someone to come in and make an offer. Anyone know when the next drill results are coming out?





Someone coming in and making an offer could cut us short.  Well I know it may cut me short because I'm in for the longer term.  Maybe not those who are in for the shorter term.  Bannerman has consolidated niceley.  I dont see anything wrong with the sideways movement..they continue to drill and I would put money on their next results also being significant.  Patience is required.  The sell side isn't stacked so everything is looking good.  Uranium spot price is now $90 too.  This company is a winner IMO.  Goanikontes will be a large deposit.


----------



## Halba (12 March 2007)

> the barry     Join Date: Jan 2007
> 
> Anyone know when the next drill results are coming out?




How can anyone know the precise date/time of drill results releases? If we did then we would have an unlimited $$$ capital base. 



> Now we just need someone to come in and make an offer.




Now that would be like ripping us off. Coz we all know theres more u there.


Chris "Patience is required" - could not agree more. this fluctuation should not disturb.


----------



## the barry (12 March 2007)

Halba said:
			
		

> How can anyone know the precise date/time of drill results releases? If we did then we would have an unlimited $$$ capital base.
> 
> I'm sure someone has an idea when the next drill results are due to finish and be released.
> 
> ...




All i was making a reference to, was that the similarities pointed out in the  above graph, the spike was due to an offer being made to cause an upward spike in the share price. Same scenario with mtn, no one is saying the offer has to be accepted, but would be nice to spike interest in the share price in a side would trending period.


----------



## chris1983 (12 March 2007)

the barry said:
			
		

> All i was making a reference to, was that the similarities pointed out in the  above graph, the spike was due to an offer being made to cause an upward spike in the share price. Same scenario with mtn, no one is saying the offer has to be accepted, but would be nice to spike interest in the share price in a side would trending period.




I totally understand what you are saying Barry.  Would definately bring more interest into the stock.  Dont worry.  Give it one more month.  Good results will bring more than enough interest.


----------



## Go Nuke (12 March 2007)

Thanks for the charts Barney
I like using Incredible charts too.
I'll try to relax


----------



## BSD (12 March 2007)

I would take the view, based on current valuations, that plenty of potential good drilling results are already locked into the BMN share price. 

The spot U price should have limited relevence to a company that will not produce for another 5-10 years.


----------



## champ2003 (12 March 2007)

BSD said:
			
		

> I would take the view, based on current valuations, that plenty of potential good drilling results are already locked into the BMN share price.
> 
> The spot U price should have limited relevence to a company that will not produce for another 5-10 years.




Hmmm 5 - 10 yrs. How do you come to that figure?


----------



## Sean K (12 March 2007)

After final JORC, PFS, BFS will take a year probably. 4 years to build the mine and get all the workforce etc.


----------



## BSD (12 March 2007)

Guessing - but with some experience

One year of drilling before pre-feasibility taking at least 6 months.

Financing of bankable feasibility could take 6 months before Bankable Feasiblility taking two years. 

Financing of development and offtake taking another 6 months, with mine and mill construction taking another 12-18 months. 

That adds up to 6 years. 

This is a small case scenario - for a monster, add a couple more years

I like BMN and have small stake (for corporate appeal) - I just think some poeple on here have unrealistic expectations


----------



## the barry (12 March 2007)

BSD said:
			
		

> Guessing - but with some experience
> 
> One year of drilling before pre-feasibility taking at least 6 months.
> 
> ...




Just for interest sake, does anyone know how long it took paladin to go through the process to production?


----------



## BSD (12 March 2007)

the barry said:
			
		

> Just for interest sake, does anyone know how long it took paladin to go through the process to production?




http://www.paladinresources.com.au/aurora/assets/user_content/File/ProjectDescription.pdf

A mixture of different projects with different amounts of work done in the past by majors - but the 5 year timeframe would appear a minimum for realistic expectations


----------



## chris1983 (13 March 2007)

BSD said:
			
		

> I would take the view, based on current valuations, that plenty of potential good drilling results are already locked into the BMN share price.
> 
> The spot U price should have limited relevence to a company that will not produce for another 5-10 years.






			
				BSD said:
			
		

> Guessing - but with some experience
> 
> One year of drilling before pre-feasibility taking at least 6 months.
> 
> ...




Wow..really interesting comments there.  I think I'll stick to carmichaels valuation.

_"However, the company have demonstrated potential for depth extensions at Anomaly A . Using the same metrics, depth extensions to 200 vertical meters (Rossing are currently mining at a vertical depth of 300m, with ore in the pit floor), there is potential for 58m lbs U3O8, supporting a price of $5.70 per share. This would not take into account the significant exploration potential outside of Anomaly A ."_

_"We have a twelve month price target for BMN of $4.50 per share, taking into account the likelihood that an interim resource figure down to 70m is likely to be improved as drilling proceeds. We still view the exploration potential as second to none. We recommend BMN as a Strong BUY to risk tolerant investors wanting exposure to the uranium sector in a uranium friendly jurisdiction, free from political uncertainty and in a stock that offers real potential to be a significant producer."_

Carmichael mention depth extensions to only 200 meters but in the last drill results they were hitting uranium even deeper than that.  One hole which was "GOA0012" hit uranium from the surface to a depth of 350 meters.

They predict a price valuation of $5.70 only up to 200 meters depth.  The price valuations mentioned earlier within the thread are not unrealistic at all.  They were given with reason.  I think the $10 figure was the amount mentioned.  Bannerman have how many shares on issue?  You work it out how unrealistic the valuations are.

Did you know the price valuations are only over an area of 1.7km by 1km.  This is so small.  Uranium is hit continuously around the Goanikontes dome.  This is over what?  A total strike of 23km off the top of my head.  Then there is the additional Rossingberg anomoly which has serious potential.  If you think further significant drilling results are allready factored into the price and the sp wont move I think your kidding yourself


----------



## mmmmining (13 March 2007)

BSD said:
			
		

> Financing of development and offtake taking another 6 months...



I guess there is no off-take for U3O8 in uranium mining. Either long term contract, or sell it on spot.


----------



## Halba (13 March 2007)

OK BSD. comments noted, also note your BMN holdings as well  

Welcome to the board anywayz.  :star:

Disagree with the comments here "This is a small case scenario - for a monster, add a couple more years"

Have you studied open pit mining BSD?


----------



## captjohn (13 March 2007)

Hohum

6 weeks of sideways consolidation is becoming somewhat frustrating........  
BMN is just idling along  following the market (between bollinger bands)probably until the next announcement......

We  definately need a company ann. to confirm depths to 200 metres & then possibly deeper !!

IMO ....BMN is changing its profile from an expensive 'speckie'  into a probable big time producer.

The owners & DJC people indicate it's there & always compare it to Rio's Rossing !!   (Chris1983 picked up on this also)
In between time,thankfully the directors are conservative & reserved ;

that do not go off half cocked 'ramping 'up results to keep the SP moving.
Not like that cowboy from Qld. that owns Cudeco copper.  (What a clown he is!)


I love reading your opinions on building a mine & getting into production.... but does it really matter whether it's 4, 5, or 6 years to produce.
The main thing surely,is that it's an economical mine with....infrastructure ie. roads, railway and milling plant all nearby, plus low cost labour.etc etc.

There's hundreds of uranium explorer 'hopefuls ' out there getting on the 'bandwagon'....& most will never find anything.
They'll keep diluting then go broke.

I am confident we have seperated the 'wheat from the chaff' ...... so count me in also for the long term.

By example,  PDN's SP went over $10, & FMG (fortescue metals)$18.... even before first export.
(Mind you the chinese will be looking at new shortcuts to get their hands on U3O8 )

We may get confirmation within 6 months (just before AGM in Perth 31st. OCT.).....
....that there is 30 to 58m lbs of U3O8 underground in anomoly "A"...I'll be the happiest kid on the block..

Then share price will take care of itself!!

captjohn


----------



## Halba (13 March 2007)

By my calculations the Anomaly A will total approximately 250-350mT of Uranium at an average grade of 0.03

This implies a possible target of nearly over 200million pounds contained uranium. The 58-60million pounds you quote captn john is based only on the section of the deposit they are drilling as per the last update.


----------



## captjohn (13 March 2007)

Halba said:
			
		

> By my calculations the Anomaly A will total approximately 250-350mT of Uranium at an average grade of 0.03
> 
> This implies a possible target of nearly over 200million pounds contained uranium. The 58-60million pounds you quote captn john is based only on the section of the deposit they are drilling as per the last update.




Thanx Halba, however they have to draw a line somewhere to get on with it!!
Why drill forever to confirm over 200 m lbs. ...this would take too long  .
Surely up to 58m lbs is big enough....then get the jorc ,pfs,bfs etc.....& later on drill the rest in sections....

Does this make sense or am I missing something?

regards,
captjohn


----------



## Halba (13 March 2007)

Hi captn. 

*Please refer to the drill grid in their latest presentation. To drill out the resource fully it will take 12 months, so approximately ready by march 2008, assumin more drill rigs come

*The grid is 1700m *800m wide. 

*One section of that grid(just drilled) has approx 50-60million pounds

*Extrapolating that section throughout the whole grid yields about 200million pounds +

*An interim resource JORC estimate is being finalised, this will be small at about 20million pounds based on relogging the historic drills(this is based only on a small section of the deposit). But significantly this will allow them to progress to scoping/feasibilties (once you have JORC you can do anything)>> in the quarterly mentioned as coming out in a couple of months so could come out anytime


----------



## captjohn (13 March 2007)

Halba said:
			
		

> Hi captn.
> 
> *Please refer to the drill grid in their latest presentation. To drill out the resource fully it will take 12 months, so approximately ready by march 2008, assumin more drill rigs come
> 
> ...




Thanx Halba, and I realize I just don't know much about the logistics of confirming a resource.......but I can sail around the world !! Arghhh..me mateys !!(that's another story)
You are very positive with your figures too....thanx again for filling me in 
captjohn


----------



## Halba (13 March 2007)

No problem I like to be well researched and hold myself to high professional standards. It helps that I maintain occasional contact with the company secretary of BMN (after all $$ is at stake).


----------



## chris1983 (15 March 2007)

Not many sellers guys.  People wanting in are going to have to pay for them soon.


----------



## Go Nuke (15 March 2007)

Surely we must see some action soon.....one way or the other.


----------



## somebodyhere (17 March 2007)

it still hasn't moved... any news?


----------



## BSD (19 March 2007)

"A new [uranium] exploration cycle is now very much under way, and significant new discoveries will be made," Goldman Sachs JBWere analyst Malcolm Southwood said. "But it takes several years to evaluate and prove reserves, and *once the economic reserves are defined, it takes 10 years or more to licence and develop a project and bring the mine into production*."


----------



## chris1983 (19 March 2007)

It doesnt matter.  They will continue to drill.  They will continue to define a resource.  I dont know how long it will take to bring the mine online..but if they map out a large resource..which I'm predicting will happen.. the price will rocket.  I believe Uranium prices will stay strong well into the future.  I know some holders may be getting bored..if you are.. sell.  There will be others waiting to soak up your shares.


----------



## captjohn (19 March 2007)

BSD said:
			
		

> "A new [uranium] exploration cycle is now very much under way, and significant new discoveries will be made," Goldman Sachs JBWere analyst Malcolm Southwood said. "But it takes several years to evaluate and prove reserves, and *once the economic reserves are defined, it takes 10 years or more to licence and develop a project and bring the mine into production*."




This analyst is probably referring to Aussie explorers with all the red tape involved.
That's why Bannerman (in Namibia)will probably fast track into production coz' everything (infrastructure )is available including Mill already a la Rio & Palladin.

Less than 4 years ago I was trading pdn at about 10 cents ...when U price jumped from $15 to $17 a pound.. I had 300,000 shares & sold at 20 cents...!! 

 pdn started preparation for production about then .....it's certainly nothing like 10 years.

Bannerman IMO  are following pdn  along same track.....this time I'm holding for longer term !!
captjohn


----------



## sydney1963 (19 March 2007)

BSD have a harsh view on uranium stocks and uranium sector in general,I
would like him to mention that,and he should not apply that view as general when he talk about BMN. 
*I quote what he mention on 5/3/07*
5th-March-2007, 07:03 PM  
_BSD     Join Date: Mar 2006    
Posts: 277  

Re: PDN - Paladin Resources  
--------------------------------------------------------------------------------

The ASX uranium sector is the most ramped, most seperated from reality, most leveraged, most 'traded', most CFD'ed, most overvalued, most hyped part of the market. 

The market drops 500 points - the uranium sector is the worst place to be in such a market. 

Which sector do you reckon saw the most margin call related selling today?

It will be interesting to see how the 'hangover' effects the 'traders' when they wake up next to a whole lot of very ugly stocks with limited prospects of making money in the near future. 

Will they start buying again the next time the music starts or sit at home with burnt fingers focussing on quality?

It doesnt matter whether U trades at $1000lb - this sector is 98% hype. 

PDN looks a great business - but it is the bellwether of a sector I wouldnt buy with stolen money at the moment. 

Want Uranium exposure? 

Buy BHP - the hype comes for free!
__________________
You never know until you bet_


----------



## Sean K (19 March 2007)

captjohn said:
			
		

> This analyst is probably referring to Aussie explorers with all the red tape involved.
> That's why Bannerman (in Namibia)will probably fast track into production coz' everything (infrastructure )is available including Mill already a la Rio & Palladin.
> 
> Less than 4 years ago I was trading pdn at about 10 cents ...when U price jumped from $15 to $17 a pound.. I had 300,000 shares & sold at 20 cents...!!
> ...



Thanks Capt. Good points. There are a few factors specific to every company that will effect how long a project comes on. That analyst was making a pretty conservative estimate I think, and it quite well might have been in ref to Australia with no infrastructure available. Maybe. SMM reckon they can get the IUJV up by 2010 don't they? That's about 4 years from JORC. PDN reckon it'll be 2012, so 6 years from the JORC. Please correct me if I have those time frames wrong.


----------



## captjohn (19 March 2007)

sydney1963 said:
			
		

> BSD have a harsh view on uranium stocks and uranium sector in general,I
> would like him to mention that,and he should not apply that view as general when he talk about BMN.
> *I quote what he mention on 5/3/07*
> 
> ...




Boy oh boy,   this guy BSD  sounds like he's been  into CFD's that got hit with  a bigtime margin call.....& still crying about it !!
captjohn


----------



## Sean K (19 March 2007)

Guys, in regard to ramping and downramping, if you all keep emotion out of it and respond objectively to everything then the information in the thread will be valuable to all. I'll continue to remove anything that looks like a ramp, or downramp, with no objective analysis. Also, any personal attacks will be removed. It's just not required. We will continue to try and be as consistant as possible, but please remember, we have a life too, and will not always be monitoring the threads. Thanks. Kennas.


----------



## nizar (19 March 2007)

BSD said:
			
		

> "A new [uranium] exploration cycle is now very much under way, and significant new discoveries will be made," Goldman Sachs JBWere analyst Malcolm Southwood said. "But it takes several years to evaluate and prove reserves, and *once the economic reserves are defined, it takes 10 years or more to licence and develop a project and bring the mine into production*."




Oh yes.
If an "analyst" said it, it must be true.
Are they usually spot on with their calls?

Remember that "analyst" that called NASDAQ to reach 10,000 during tech boom?

And more specific, and from the same firm goldman sachs, was the call made during 2005, that the oil price by end of the year would reach us$110/barrel. I think actually that was a senior "analyst"!

Gotta love those "analysts" and some of the calls they make


----------



## Halba (19 March 2007)

I think most of the people here on this forum e.g. chris know more than any analyst. I think some analysts are good such as Carmichael's who support BMN.


----------



## Sean K (19 March 2007)

Halba said:
			
		

> I think most of the people here on this forum e.g. chris know more than any analyst. I think some analysts are good such as Carmichael's who support BMN.



LOL. You crack me up Halba. Chris knows more than any analyst. And the analysts at Carmichael's are good. Because they support BMN? Classic.   Chris did you pay for this endorsement?


----------



## Halba (19 March 2007)

Time will tell kennas, time will tell.

If BMN breaks out this year you owe me a beer kennas.


----------



## Sean K (19 March 2007)

Halba said:
			
		

> If BMN breaks out this year you owe me a beer kennas.



LOL, no chance. That's only 40 cents upside. Actually, I would be surprised if it even exists by the end of the year. M&A activity will only increase in the sector, and I imagine this would be on the radar. Bit speculative, but based on the current action within the sector, there's going to be quite a few tie ups IMO.


----------



## Halba (19 March 2007)

3.20-2.65 = 0.55


0.55/2.65 = 20% return in 8 months.

Annualised- 30%, thats my target.

I doubt the index will return even close to that.

Lets say $3.50 target to compensate for risk.


----------



## chris1983 (19 March 2007)

hahaha Halba you made me laugh mate.  Thanks for the props.  Kennas I dropped him a private message to say that  haha jk.

A large portion of the analysts know nothing IMO.  A lot of them jump on a share way too late and gains have been missed.  Halba even yourself have great techniques in picking good shares..a lot of the guys on this forum do.  ASF have the best members and I am part of all the share trading forums.  You should look twice at AGM though..thats a winner  I give Carmichael props for picking BMN so early in the game. I dont think you need to be a brain surgeon to pick good shares.  I don't even care what BMN are doing atm.  All we need to know is they are drilling..and results will come.  Thats good enough for me.  

Ill stick with Carmichaels price target of 4.50..but since BMN are in a sector that is so hot atm and uranium prices wont be slowing down anytime soon I'm expecting larger gains.  It really depends on how much progress we can see with their drilling..if they start mapping out this resource in quick time we may be able to fast track to production.


----------



## the barry (19 March 2007)

BSD said:
			
		

> "A new [uranium] exploration cycle is now very much under way, and significant new discoveries will be made," Goldman Sachs JBWere analyst Malcolm Southwood said. "But it takes several years to evaluate and prove reserves, and *once the economic reserves are defined, it takes 10 years or more to licence and develop a project and bring the mine into production*."




Without more infomation this quote is irrelevent. Where was he talking about, Is he talking about developing a mine in ethipoia or some third world country. what size resource is he talking about. Is the resource acessable by infrastrucuture. did the land need to be prepared,eg clear forest, terrain, before a resource was defined etc. Does it include time taken to apply for a licence, does it take into account political positions on uranium mining. Unfounded ambiguos comment that could mean anything.


----------



## TheAbyss (19 March 2007)

http://www.theage.com.au/news/busin...ium-price-soars/2007/03/18/1174152881148.html

The above link refers to an article in The Age today on Paladin. It contains the reference "A new exploration cycle is now very much under way, and significant new discoveries will be made," Goldman Sachs JBWere analyst.

This will give you the context of the statement and its target.

Quite positive for Paladin in my view.


----------



## Halba (19 March 2007)

abyss- prolly better to post that on the PDN board. This is the 'BMN' board.


----------



## chris1983 (19 March 2007)

Halba said:
			
		

> abyss- prolly better to post that on the PDN board. This is the 'BMN' board.




haha subtle..but straight to the point.

I got nothing to say anymore about BMN.  We need some more drilling reports out so we can start talking up some more estimations etc etc.  They have to be due soon.............please... patience..


----------



## TheAbyss (19 March 2007)

Perhaps i wasnt clear enough. I posted the link to The Age to explain where the below post emanated from. Definitely wasnt a PDN ramp. Sorry if i upset anyone.



			
				BSD said:
			
		

> A new [uranium] exploration cycle is now very much under way, and significant new discoveries will be made," Goldman Sachs JBWere analyst Malcolm Southwood said. "But it takes several years to evaluate and prove reserves, and once the economic reserves are defined, it takes 10 years or more to licence and develop a project and bring the mine into production.






			
				the barry said:
			
		

> Without more infomation this quote is irrelevent. Where was he talking about, Is he talking about developing a mine in ethipoia or some third world country. what size resource is he talking about. Is the resource acessable by infrastrucuture. did the land need to be prepared,eg clear forest, terrain, before a resource was defined etc. Does it include time taken to apply for a licence, does it take into account political positions on uranium mining. Unfounded ambiguos comment that could mean anything.


----------



## mmmmining (19 March 2007)

BSD said:
			
		

> But it takes several years to evaluate and prove reserves, and once the economic reserves are defined, it takes 10 years or more to licence and develop a project and bring the mine into production.




Those bankers are clueless. In an commodity down cycle, it might take 10 years to do something because you have to go back to drawing board constantly to justify your BFS because the dropping commodity price.

Now it is in a booming cycle. You just need one BFS, and any appreciation of commodity prices is cream on the top.

Another argument is in Australia, it might take ten+ years to do so, but overseas various. 3-5 years is very possible.

A lot of projects are in advanced stage. I believe BMN is one of them. They have historic drilling, now just need to confirm it, and get a JORC resources for a small section, upgrade it with detail drilling, and PFS, BFS, ....Producton.

I can see BMN will produce the first yellowcake within 3-5 years, which is right about the time to need the great demand.


----------



## champ2003 (19 March 2007)

Halba said:
			
		

> 3.20-2.65 = 0.55
> 
> 
> 0.55/2.65 = 20% return in 8 months.
> ...




Sorry Halba but I'm not sure how you get those figures as BMN has risen over 400% in the last 8 months hasn't it? Annualised that would be about 600% wouldn't it?


----------



## the barry (19 March 2007)

champ2003 said:
			
		

> Sorry Halba but I'm not sure how you get those figures as BMN has risen over 400% in the last 8 months hasn't it? Annualised that would be about 600% wouldn't it?




The calculation is on the present valuation of 2.65 cents. It is basing return on this figure rather than factoring in past performance.

This is return that he hopes he will see in the future from the current price.


----------



## nizar (19 March 2007)

champ2003 said:
			
		

> Sorry Halba but I'm not sure how you get those figures as BMN has risen over 400% in the last 8 months hasn't it? Annualised that would be about 600% wouldn't it?




Champ
Read the post, and again, and again.
He didnt give a % only, he showed working out.
20% is from $2.65 to $3.20. (the price at which he wants kennas to buy him a beer)

Barry
2.65c ???
WTF is this??
Your valuation of BMN?? So its 100x overvalued??

On the ball please people....


----------



## Halba (20 March 2007)

Yeah i changed the post later from 3.25 to 3.50+(and it has to be stable here, i.e. not falling all the way back). Just to compensate for risk. Lets see if that price is possible. So far BMN has done nothing from Mid jan to end march so its got a lot of catching up to do. It also doesn't really 'look' like breaking out for the moment. But still on track to meet my personal targets(by say Dec 2007) which i will be more than content with.


----------



## mmmmining (20 March 2007)

My target for BMN or any uranium stocks is 100%+ return to justify the high risk. That is right, 100%+ return for the SP I paid.

30% is just a swing in a month. You might see 50% peak to valley in 3 months.

For the same reason, I am prepared for 50%, even 80% haircut in short term, or complete capital loss in long run.

If I want 30% return, I might invest in a bank, or insurance company..


----------



## Halba (20 March 2007)

Yep 100% fair enuff, yep it needs to be high. 100% definitely more than that if BMN gets to production.


----------



## chris1983 (21 March 2007)

Volume is starting to pick up.  Currently up 10 cents.  Bannerman should be due for a drilling update soon I would imagine.  Keep a close eye on this stock.


----------



## captjohn (21 March 2007)

chris1983 said:
			
		

> Volume is starting to pick up.  Currently up 10 cents.  Bannerman should be due for a drilling update soon I would imagine.  Keep a close eye on this stock.




Chris,
you took the words right outa my mouth.... yes in the depth  ..the sellers  from 2.67 to 2.80 seem to be reducing their volumes....allowing SP to trend easier...& macd is turning up into positive ...let's hope  announcement is imminent !!
captjohn


----------



## Halba (21 March 2007)

Drills are imminent.


----------



## the barry (21 March 2007)

Halba said:
			
		

> Drills are imminent.




Is that a fact or hunch?


----------



## Halba (21 March 2007)

Its been over a month since last update. Normally these should update once a month, so they are imminent.


----------



## the barry (21 March 2007)

Halba said:
			
		

> Its been over a month since last update. Normally these should update once a month, so they are imminent.




Thanks mate, one can only bare treading water for so long.


----------



## chris1983 (21 March 2007)

the barry said:
			
		

> Thanks mate, one can only bare treading water for so long.




Taken from the recent drilling report which was released Feb 15.  Its allready March 21 and they still had other drillholes to report on from that previous report.  They must have the results back for them allready.  It cant be too long untill we get an update.

_"Sample assays have also been delayed due to demands on the laboratory in Johannesburg however a regular system of sample turnaround and analysis has now commenced and it is expected that results should flow through at a regular rate. The samples are being analysed for uranium by XRF (X Ray Fluorescence)."_


----------



## Go Nuke (21 March 2007)

Good to see BMN moving in the right direction for a change.

Im sure when those results come through there will be more positive action  

Now.....ERN..just follow suit!


----------



## captjohn (21 March 2007)

Go Nuke said:
			
		

> Good to see BMN moving in the right direction for a change.
> 
> Im sure when those results come through there will be more positive action
> 
> Now.....ERN..just follow suit!




Great to see BMN stay up at 2.68 with vol. over a mill.....an announcement tomorrowor or  soon  may push  SP  up thru the upper boll. band.... Yippee !!

This is a very important announcement for BMN IMO.......

We need  more positive drilling results with confirmation of depth to 250 metres. to indicate a huge resource underground...
Lately the Aussie U hopefuls have been getting all the investment $$$ !! .. 
During the past 2 months I've been tempted to sell off a few BMN to get into some local explorers....but I refrained & bought more into Namibia with ERO & EXT.
I respect chris's analysis of ERO & the low shares on issue is certainly potential value. EXT is right next to BMN so anything could happen later on.

captjohn


----------



## chris1983 (21 March 2007)

Go Nuke said:
			
		

> Good to see BMN moving in the right direction for a change.
> 
> Im sure when those results come through there will be more positive action
> 
> Now.....ERN..just follow suit!




BMN is definately looking good the longer they have stayed in the consolidation phase.  A lot of shares have been sold off by frustrated holders.  Things don't happen overnight.  I remember when BMN ran from $2 to over $3 in the period of a week.  To me BMN has been an easy investment decision to hold for the longterm.  There looks to be no weakness occuring in the uranium price any time soon and demand is only going to grow into the future.  Namibia IMO is also the best place to be.

They have a historic resource that previously wasn't developed because of uranium prices.  The resource will be big IMO.  The extent of the mineralisation around the Goanikontes Dome is all I need to know.  Historics are great..but when current drilling backs up the historical data its even better.  Bannerman are currently drilling out the historic drilling area.  Results won't dissapoint.  Thats just my opinion.

I'm really looking forward to them. Theres nothing we can say anymore...except wait..


----------



## chris1983 (21 March 2007)

captjohn said:
			
		

> Great to see BMN stay up at 2.68 with vol. over a mill.....an announcement tomorrowor or  soon  may push  SP  up thru the upper boll. band.... Yippee !!
> 
> This is a very important announcement for BMN IMO.......
> 
> ...




ERN mate. ERN (erongo energy)    ERO is eromanga.

I only hold two uranium shares.  Not worth having them all.  Theres way too many in Australia.  No way all the aussie ones are even going to get close to production.  Only the selected few will get a shot.  Choose wiseley.  In regards to Namibia its hard enough to get granted a license there so if you do find a good resource..more than likely I think you will be able to develop it.

Hence why I like both ERN/BMN and even EXT( looking to enter)


----------



## Go Nuke (21 March 2007)

I hold ERN, BMN, and SMM.
From what Ive gathered (mostly from reading this forum) is that i can see the sense in looking at Nambia.
Both from its historic point of view,cheap labour and the fact that they have some of those now hard to get licences.

I thought about ERO...but it hasn't got enough history for my liking.
I also think i might have missed that boat now that the sp has gone up.
Someone said that it would have been nice to see some sort of radiometrics for that (new channel system) and i would tend to agree.

My problem is ...because im new to the share market game, is WHEN to get off BMN.
Not for quite awhile I'm thinking. At least I have that Carmichael guide price of $5 something to go by.


----------



## captjohn (21 March 2007)

Yes chris,
 Typo error ....shoulda been ERN........been watching ERO  too much......& your comments make sense regarding Aussie hopefuls....they're all getting on the bandwagon.....
Bottom line is I'd rather have BMN's potential for the long haul.
Now let's wait & see what results say !!
captjohn


----------



## Go Nuke (21 March 2007)

You guys seem pretty sure of an ann soon   

 And sorry to show how hopeless i am here, but why does EXT not come up on Commsec for me?


----------



## mmmmining (21 March 2007)

Go Nuke said:
			
		

> You guys seem pretty sure of an ann soon
> 
> And sorry to show how hopeless i am here, but why does EXT not come up on Commsec for me?




Share price up, ann out, share price down.... SSDD
EXTDA


----------



## Go Nuke (21 March 2007)

mmmmining said:
			
		

> Share price up, ann out, share price down.... SSDD
> EXTDA




Ah thank you Mmmmmmmmining

Hmm...not much to look at on the EXTDA chart...lol.
Why would anyone think of getting in?
Because of the volume picking up...right?


----------



## captjohn (21 March 2007)

Go Nuke,
Just hang in there with your BMN shares....  here in Perth DJC's are a big operation & I believe if the drilling results come up (sooner or later) with the confirmation of  U308 to depths to  200 metres in "Anomoly A"....then Carmichaels will push the SP up to their valuation between $4.50 and $5.70..within 12 months.
Last time the previous report  stated..."12 month price target to $3 ".
It reached that in 5 months!!
Who knows....this time  .....as long as they keep drilling & hopefully with positive results.


captjohn


----------



## chris1983 (21 March 2007)

Go Nuke said:
			
		

> Ah thank you Mmmmmmmmining
> 
> Hmm...not much to look at on the EXTDA chart...lol.
> Why would anyone think of getting in?
> Because of the volume picking up...right?




Now that Extract have consolidated fair value may come through.  Current share holders have been hard done by..with all the heavy dilution and day traders in the stock.. but I think there could be a turn around now.  Ive got no spare cash to go into them though..I would grab 10,000 shares if I had the money but I'll just stick with the two that I have being BMN and ERN for now.

BMN look good with little on the sell side.  It has done this all before..even ran to 2.80 I think? before we had the large drop on the DOW. I thought something was up then..but it was bad timing to start a run.  Lets see how the world markets hold up..it does all have an affect on our market..but I think Uranium and the energy sector in general should be fine.  People are choosing which way BMN will go..up..or down..its proven any sell off is always countered by investors grabbing bargain prices.  Support levels always hold firm.  One direction left for me with BMN.  Up.  Fundamentals say so.


----------



## the barry (22 March 2007)

chris1983 said:
			
		

> Now that Extract have consolidated fair value may come through.  Current share holders have been hard done by..with all the heavy dilution and day traders in the stock.. but I think there could be a turn around now.  Ive got no spare cash to go into them though..I would grab 10,000 shares if I had the money but I'll just stick with the two that I have being BMN and ERN for now.
> 
> BMN look good with little on the sell side.  It has done this all before..even ran to 2.80 I think? before we had the large drop on the DOW. I thought something was up then..but it was bad timing to start a run.  Lets see how the world markets hold up..it does all have an affect on our market..but I think Uranium and the energy sector in general should be fine.  People are choosing which way BMN will go..up..or down..its proven any sell off is always countered by investors grabbing bargain prices.  Support levels always hold firm.  One direction left for me with BMN.  Up.  Fundamentals say so.




I think for memory it was the release of the carmichaels report which started the last little run, only for the china markets to crash which had a filter on effect. Dow up over 150 points at the moment, hopefully bmn can continue its run from yesterday.


----------



## the barry (22 March 2007)

There was movement at the station....... for word had passed around. Finally bmn is making a move. Yahoo


----------



## captjohn (22 March 2007)

Ahhhh...me mateys........BMN at $2.83..........now we want that announcement ...please !!
CAPTJOHN


----------



## chris1983 (22 March 2007)

captjohn said:
			
		

> Ahhhh...me mateys........BMN at $2.83..........now we want that announcement ...please !!
> CAPTJOHN




BMN looking very strong now with not many shares on the sell side and the buyers coming in.  Strong day on the DOW lastnight..as predicted we thought BMN was due for a run.  2.90 now.


----------



## mmmmining (22 March 2007)

Looks like there' s a chance news to be released sooner, tomorrow maybe?


----------



## captjohn (22 March 2007)

I reckon those traders at DJC's know what's in that report already   ....otherwise what's driving SP up thru Bol. band like this......


----------



## chris1983 (22 March 2007)

mmmmining said:
			
		

> Looks like there' s a chance news to be released sooner, tomorrow maybe?




Yesterdays close was very positive..and now we get the DOW having a very positive night also..I would think news is on the way..We have been saying news should be around the corner and its been awhile now.  They still have some of the previous drilling results not released yet.  Either way news will be released and us BMN believers all think there is only one way for BMN SP to go.


----------



## sydney1963 (22 March 2007)

chris1983 said:
			
		

> Yesterdays close was very positive..and now we get the DOW having a very positive night also..I would think news is on the way..We have been saying news should be around the corner and its been awhile now.  They still have some of the previous drilling results not released yet.  Either way news will be released and us BMN believers all think there is only one way for BMN SP to go.



Patiant pay off


----------



## chris1983 (22 March 2007)

sydney1963 said:
			
		

> Patiant pay off




Some profit takers coming in..but today has been positive enough...its only morning though.  Hopefully it holds above 2.80.  I would be pleased with that.


----------



## aobed (22 March 2007)

I remember awhile back someone had posted a link to a free website that would give the buy and sell figures (in terms of total monetary amounts).  Does anyone recall the name or URL of the webiste?  

I'd be curious to see the total buy / sell monetary values traded today as a histogram based on price.


----------



## captjohn (22 March 2007)

aobed said:
			
		

> I remember awhile back someone had posted a link to a free website that would give the buy and sell figures (in terms of total monetary amounts).  Does anyone recall the name or URL of the webiste?
> 
> I'd be curious to see the total buy / sell monetary values traded today as a histogram based on price.




Chris will know all those figures...haha


----------



## chris1983 (22 March 2007)

aobed said:
			
		

> I remember awhile back someone had posted a link to a free website that would give the buy and sell figures (in terms of total monetary amounts).  Does anyone recall the name or URL of the webiste?
> 
> I'd be curious to see the total buy / sell monetary values traded today as a histogram based on price.




I use stockness monster

http://stocknessmonster.com/

Put in BMN and select trades.

Is this what you're after?


----------



## aobed (22 March 2007)

chris1983 said:
			
		

> I use stockness monster
> 
> http://stocknessmonster.com/
> 
> ...




Thanks Chris, exactly what I was looking for.


----------



## the barry (22 March 2007)

Just hit that magic $3.00 mark. Theres tears..... emotional.


----------



## sydney1963 (22 March 2007)

the barry said:
			
		

> Just hit that magic $3.00 mark. Theres tears..... emotional.



Hit $3.04 with 96 buyers and 14 sellers [source NAB]


----------



## LifeisShort (22 March 2007)

sydney1963 said:
			
		

> Hit $3.04 with 96 buyers and 14 sellers [source NAB]




After boring couple of months....we have a beakout....the stars are aligning. Lets hope the $3 holds and this is the new level of consolidation.


----------



## captjohn (22 March 2007)

sydney1963 said:
			
		

> Hit $3.04 with 96 buyers and 14 sellers [source NAB]




This is  a really solid gain with volume......something is going on behind the scenes ....let's get an ann.  or bmn will get a speeding ticket from ASX....  just tested the all time high of $3.05....& backed off .....that's O.K.   for now !!


----------



## Reefer (22 March 2007)

Reckon the speeding ticket is going through the printer now!!!


----------



## captjohn (22 March 2007)

This is very high buying volume.....in 12 months only been over 2 mill. twice !! ...1.8 mill..now !!
After 2 months of cosolidating SP jumps up like a coiled spring !!...often more than when trending !!...
Still hoping for announcement soon.


----------



## captjohn (22 March 2007)

Did BMN attend that Uranium investor presentation  meeting in Adelaide ?


----------



## Go Nuke (22 March 2007)

the barry said:
			
		

> Just hit that magic $3.00 mark. Theres tears..... emotional.




LOL..
Well well...$3.10 now!  {make that $3.13 now}

There must be something happening that we dont know about.
I mean sure...we all knew it would go up...but i agree....maybe a speeding ticket is on the way. Useless as they are. There response is always the same.."No..we dont know anything"

Im really pleased to se this finally happening. And Im no way near interested in selling.
ERN back up to where it was a little while ago to with a 8.11% rise today. Maybe a flow through effect in the area?

Actually its been a good day all round!
Even my AGS shares are finally picking themselves up off the floor a bit.


----------



## captjohn (22 March 2007)

Yes this has been  a great consolidation for over  2 months &  now in place is a   very strong support platform for the next jump up....a la Carmichaels valuation  4.50  to 5.70 .


IMO new money has entered  during 2 months....& now,of course  expecting to reach the price targets by years end.......(or sooner)
 Off to a good start.........   Over 2 mill. shares & up 15 %......Wowie !!


----------



## Go Nuke (22 March 2007)

Well...you guys might think Im stupid or crazy but I just checked my small portfolio (cuz Im new to shares) and it turns out that 41% of my shares are in BMN.
So I guess I have good reason to be happy today  

My other majorities are ERN,HLX and AGS.

Im going to get burnt along the way im sure...but everyone here is very helpful..so hopefully I can learn from you all


----------



## jj0007 (22 March 2007)

My guess is either drill results or a SPP.  SPP maybe ....  because people are buying in to participate?  
Volume not big enough to suggest sharks circling.... and its still too early for resource definition.
Nonetheless a wonderful day.  A little "woohoo" for closing well above $3.


----------



## UraniumLover (22 March 2007)

jj0007 said:
			
		

> My guess is either drill results or a SPP.  SPP maybe ....  because people are buying in to participate?
> Volume not big enough to suggest sharks circling.... and its still too early for resource definition.
> Nonetheless a wonderful day.  A little "woohoo" for closing well above $3.



Finally... It has been a patient wait but all worth it.


----------



## somebodyhere (22 March 2007)

chris1983 said:
			
		

> I use stockness monster
> 
> http://stocknessmonster.com/
> 
> ...



Just wondering, why is the data there different from the "Raw Data" from QuoteTracker?


----------



## purple (22 March 2007)

Go Nuke said:
			
		

> Well...you guys might think Im stupid or crazy but I just checked my small portfolio (cuz Im new to shares) and it turns out that 41% of my shares are in BMN.




well...there's another fellow around who's like you, also into shares, who doesn't diversify much.

his name's Warren Buffett.

 

(not that I push for not diversifying)


----------



## LifeisShort (22 March 2007)

purple said:
			
		

> well...there's another fellow around who's like you, also into shares, who doesn't diversify much.
> 
> his name's Warren Buffett.
> 
> ...




I think u need to read a bit. Warrens Buffets group of investment vehicles own over 50 different companies....I think he is diversified but he goes in whole hog when he likes something


----------



## Noskcid (23 March 2007)

Good to see everyone happi....


----------



## the barry (23 March 2007)

The one thing that makes me so confident with bannermans is still the whole mcmahon factor. You can't help but feel that he may have known something more than the average punter. 
At present he owns

$15,000,000 / 2.70 = 5555555 shares

For every 1 cent move = 5555555 * .01 = 55555
By yesterdays move = 55555 * 43 cents = $ 2388888.89 

Not a bad days work at all.


----------



## Halba (23 March 2007)

Barry - not fair to compare with the mining gurus - they operate at another level entirely. A few $k for me whilst might be great, is short change. These guys deal in the "few millions"


----------



## mmmmining (23 March 2007)

the barry said:
			
		

> The one thing that makes me so confident with bannermans is still the whole mcmahon factor. You can't help but feel that he may have known something more than the average punter.
> At present he owns
> 
> $15,000,000 / 2.70 = 5555555 shares
> ...



So many times having seen Mcmahon mentioned. Where did you get the info about the $15m, and 5,555,555 shares?

According the 24/1/07 notice, he owned 4,161,849 share, and 1,676,653 options. He have got them over four months prior to the notice. 

So the fact is that he had got the share at much lower average price, maybe around $1 mark, definitely less than $2.

Nevertheless, his involvement is a positive indicator. It does not matter what kind of price he paid, and you don't need to feel bad if you have paid higher price then  he has.


----------



## captjohn (23 March 2007)

Pre open shows opening at  $3.25


----------



## the barry (23 March 2007)

mmmmining said:
			
		

> So many times having seen Mcmahon mentioned. Where did you get the info about the $15m, and 5,555,555 shares?
> 
> According the 24/1/07 notice, he owned 4,161,849 share, and 1,676,653 options. He have got them over four months prior to the notice.
> 
> ...




There was an article in the newspaper discusing him buying 7.5 percent at 2.70. If you look back at posts on this board it was discused at length. With the whole fellow director on the board of cazaly and the board of bannermans.


----------



## mmmmining (23 March 2007)

the barry said:
			
		

> There was an article in the newspaper discusing him buying 7.5 percent at 2.70. If you look back at posts on this board it was discused at length. With the whole fellow director on the board of cazaly and the board of bannermans.



Nathan Bruce McMahon owned 7.06% of BMN officially. 
You know 7.5% is a substantial holding, must be disclosed to the ASX. Press might be wrong. I read the posts before, and thought someone is going to clear it, but nobody.

If you are a long term holder, you should not worry too much about short-term price movement.


----------



## the barry (23 March 2007)

mmmmining said:
			
		

> Nathan Bruce McMahon owned 7.06% of BMN officially.
> You know 7.5% is a substantial holding, must be disclosed to the ASX. Press might be wrong. I read the posts before, and thought someone is going to clear it, but nobody.
> 
> If you are a long term holder, you should not worry too much about short-term price movement.




I know, im in here for the long haul. I will hold this stock for a minimum of 18 months (unless its taken over). Just good to see it slowly move up. Would love to see it consolidate over the $3 mark.


----------



## sydney1963 (23 March 2007)

Has BMN been recomended by Fat prophet as one of the best 3 uranium stock in ASX,[in their last report about uranium stocks.[Last week]]


----------



## happytown (23 March 2007)

sydney1963 said:
			
		

> Has BMN been recomended by Fat prophet as one of the best 3 uranium stock in ASX,[in their last report about uranium stocks.[Last week]]




Ahhhh, the fat prophets kiss of death    

Drilling results overdue?

What chance a further dip next week for a nicer top-up entry point?

cheers


----------



## chris1983 (23 March 2007)

happytown said:
			
		

> Ahhhh, the fat prophets kiss of death
> 
> Drilling results overdue?
> 
> ...




Kiss of Death?  they also recommended them at 67.5 cents post share split..that was a kiss of pleasure there.

Just look at the amount of shares turned over.  

3 Million+ bought at 2.95 and above.  Then you have all the major share holders..Its looking good to me.  It can consolidate 2.90 and above before the next announcement..any longterm holder will be happy with that.


----------



## Rafa (23 March 2007)

I don't post much on this share anymore cause there is way too much over reaction...


Slow and steady for me...
Consolodation between 2.80 and 2.90 would be welcome and will form a nice solid base.


----------



## happytown (23 March 2007)

chris1983 said:
			
		

> Kiss of Death?  they also recommended them at 67.5 cents post share split..that was a kiss of pleasure there.




Have to agree with you on that one then , I just wasn't on the pleasurable receiving end of that one   

Agree with you also on turnover, would be interested if there indeed was a reason beyond just a tipsheet rec, ie impending ann

cheers


----------



## chris1983 (23 March 2007)

happytown said:
			
		

> Have to agree with you on that one then, I just wasn't on the pleasurable receiving end of that one
> 
> Agree with you also on turnover, would be interested if there indeed was a reason beyond just a tipsheet rec, ie impending ann
> 
> cheers




Who Knows.  Guys buying in at $3 really shouldnt be too phased.  Not if your in for the medium to longer term.  We have done lots and lots of analysis on BMN throughout the thread.  It hit new highs only yesterday with no announcement.  What will happen when further drill results are received.  My perception on BMN from the very beginning has been that they are drilling out a historic resource with a lot more of the anomoly that won't even be touched in the current drilling.  Drill holes confirm uranium around the Goanikontes Dome but they can only concentrate on a particular area because the grounds are too large to cover.  If your drilling out a historic resource..and the last drill results brought back were very significant in proving the credibilitay of the historic drilling your investment decision hasn't been a bad one..its just you caught them on the high and it has retraced for the time being.  If I thought BMN didnt have further to run I would of sold my holding..and investors wouldn't be paying 2.90+ for the stock.

They also had depth extensions on the historic resource with one of their last holes still hitting uranium mineralisation at a depth of 300 meters +.  Some profit takers came in today..but thats fine.  It doesn't phase me.


----------



## the barry (23 March 2007)

chris1983 said:
			
		

> Who Knows.  Guys buying in at $3 really shouldnt be too phased.  Not if your in for the medium to longer term.  We have done lots and lots of analysis on BMN throughout the thread.  It hit new highs only yesterday with no announcement.  What will happen when further drill results are received.  My perception on BMN from the very beginning has been that they are drilling out a historic resource with a lot more of the anomoly that won't even be touched in the current drilling.  Drill holes confirm uranium around the Goanikontes Dome but they can only concentrate on a particular area because the grounds are too large to cover.  If your drilling out a historic resource..and the last drill results brought back were very significant in proving the credibilitay of the historic drilling your investment decision hasn't been a bad one..its just you caught them on the high and it has retraced for the time being.  If I thought BMN didnt have further to run I would of sold my holding..and investors wouldn't be paying 2.90+ for the stock.
> 
> They also had depth extensions on the historic resource with one of their last holes still hitting uranium mineralisation at a depth of 300 meters +.  Some profit takers came in today..but thats fine.  It doesn't phase me.




Was always going to get profit takers today. Has run from 2.60 to 3.15 in two days without an announcement, having done nothing for 6 weeks. Hopefully drill results aren't too far off.


----------



## Reefer (23 March 2007)

Chris 1983 you are like the iceman.  So cool when everyone around you panics. I believe your research is probably the sole reason most ASF members have a holding in both BMN and ERN.  Unless the universe blows up before either of these companies realises their potential, I feel you have given all of us the chance at some extraordinary profits.  Hope you've got a cellar to fit all the Grange in


----------



## chris1983 (24 March 2007)

Reefer said:
			
		

> Chris 1983 you are like the iceman.  So cool when everyone around you panics. I believe your research is probably the sole reason most ASF members have a holding in both BMN and ERN.  Unless the universe blows up before either of these companies realises their potential, I feel you have given all of us the chance at some extraordinary profits.  Hope you've got a cellar to fit all the Grange in




Thanks for the props Reefer but I'm not the only one who has posted some great posts on the BMN thread.  It feels weird getting the accolades .  Thanks for noticing some of the effort that went into some of the earlier posts.  I just hope you all continue to make money.  Rafa, Lifeisshort, Halba,captjohn and others (too many to name) have all added some great posts to the thread. I really dont think Bannerman or Erongo will dissapoint.  

Back onto BMN..it was a great week IMO.  Some have suggested the buying was due to presentations being run in Canada.  I don't know what caused it..but there was some big buying.  Maybe drill results are close..BMN has had a common trend to rise before an announcement.  If they were to release an announcement soon it would be at the best time with the US market starting to look firm again and the Uranium spot price not slowing down.  All we can do is wait.  Management know what they are doing.


----------



## chris1983 (24 March 2007)

I think the one thing we have to remember with BMN though is that the initial JORC resource which should be coming out in the next couple of months will be a solid foundation to expand upon.  I hope everyone realises you need to start somewhere.  Taken from the latest Carmichael report.

*"The diamond holes were drilled to validate the historical drilling. The company aims to produce an interim JORC compliant resource, containing 230 historic holes, down to 70m depth, over a strike length of 1,700m, in the next few months."

“Interim Resource over 1.7km to 70m at Anomaly A followed by Resource to ~250m”*

So from our previous workings the interim resource will be around 9000 tonnes of uranium.  It isn't huge but its a great start.

Carmichael again.

*"We estimate that an interim resource estimate generated from Anomaly A down to approximately 70m, over a strike distance of 1,700m could generate an insitu resource containing 25m lbs U3O8, supporting the current price of $2.70 per share.

However, the company have demonstrated potential for depth extensions at Anomaly A . Using the same metrics, depth extensions to 200 vertical meters (Rossing are currently mining at a vertical depth of 300m, with ore in the pit floor), there is potential for 58m lbs U3O8, supporting a price of $5.70 per share. This would not take into account the significant exploration potential outside of Anomaly A ."*

So investors have allready pretty much anticipated a 25m lbs resource.  But its the depth extensions that are the key to look out for in the next drilling results.  More significant hits at great depths.  300m+ would be nice .  Even though drilling is being carried out to 300m+ depth the interim resource will still only be over 70 meters depth.  Just something for the new guys on board..just so you know the clear potential of the deposit.

Then we have all the potential area outside the initial drilling area..but the depth extensions is what we want to see more of.


----------



## RIC (24 March 2007)

5.70 /share looks a good start however if you read 4/7/06
carmichael report on page 4 it said that a 1980
estimate of goanikontes to 100 m only is 350 Mt
therefore if continuous to say 300m and we own 80%
then u308 is

350Mt*350ppm*300m/100m*.8=294,000 T U308

at a conservative inground value of $12,000/T =$24.00/share  based on goanikontes alone so at $3.00/share its a steal


----------



## Halba (24 March 2007)

Yes RIC. calculations are very good. Thats also only on their 'Anomaly A' they have more than twelve anomalies which they can test later on. At this stage its all theoretical, we need BMN to confirm through some announcements(which they are verrry slow at giving, much to my frustration).


----------



## LifeisShort (24 March 2007)

Halba said:
			
		

> Yes RIC. calculations are very good. Thats also only on their 'Anomaly A' they have more than twelve anomalies which they can test later on. At this stage its all theoretical, we need BMN to confirm through some announcements(which they are verrry slow at giving, much to my frustration).




I think one of the better points of BMN is the cash situation. BMNO are expiring soon which should raise a bit of cash (actually its in the money so all holders should exercise those) plus also if BMN ever wanted to raise any more say another 5 mil for drilling etc then they would only need to issue an extra 2 million shares @ 2.50 say to raise that which means bugger all for dilution effect. Brilliant absolutely brilliant.


----------



## Halba (24 March 2007)

Yep life is short thats a good point. Less shares on issue means less dilution. Only dilution will occur when they need funds for BFS+ construction. But look at PDN it went up even more after its placements, not down.


----------



## RIC (24 March 2007)

halba

given where the sp should be at bfs and constr. they
shouldnt need to issue too many shares and given
the size of the resource and u308 price i dont think they
will have much trouble bank financing most of it
$24/share was based on inground value at 12,000/t
when they are producing expect a different value
considering u308 is currently selling for 91 us/lb=
AUD 248,000 /t (current cost to produce is approx 50,000/t)


----------



## captjohn (24 March 2007)

RIC said:
			
		

> 5.70 /share looks a good start however if you read 4/7/06
> carmichael report on page 4 it said that a 1980
> estimate of goanikontes to 100 m only is 350 Mt
> therefore if continuous to say 300m and we own 80%
> ...




Good morning gentlemen,
I love to see you guys work these figures (that,is SP at  $24 for 300mt..etc)...

BUT, Ric,....surely BMN's share price  later on will be kinda limited to or valued at.....only the amount of U3 O8 that can physically be obtained annually from the mine less costs to get it out !! 

In other words   300million tons in the ground has limited value IF, only 10 guys with shovels on the surface are filling wheelbarrows & selling it!!
As you know I'm certainly not a mining engineer.(but trying to learn).....so can you help me out here  ??
P.S.
If you want to be one of the ten guys on shovels.....let me know...haha


----------



## mmmmining (24 March 2007)

captjohn said:
			
		

> Good morning gentlemen,
> I love to see you guys work these figures (that,is SP at  $24 for 300mt..etc)...
> 
> BUT, Ric,....surely BMN's share price  later on will be kinda limited to or valued at.....only the amount of U3 O8 that can physically be obtained annually from the mine less costs to get it out !!
> ...




Here again, in ground value  (IGV) per share vs SP.

Compare IGV/share with SP won't get you anywhere. If the mining cost/share is great than the IGV/share, think about it, what kind of share price it should be?

At 350ppm, The ore might worth about US$70/t. Before you get 1t ore, you might need to remove 5t waste. Based on this, I won't go with you. But I might, if there is a 5-star hotel room nearby.


----------



## jj0007 (24 March 2007)

You are right captjohn.

Most professionals use DCF to value mining companies.  But until we get some sort of mining plan (usually comes with BFS) then its difficult to value the company using this method.  Some people use ev but thats realy a "rule of thumb" and can be deceiving.  As you said, no use having 300mt underground but extracting it at very slow rates.  $1 today has more value than $1 tomorrow.  That's the whole idea of the feasbility studies....working out what is the optimal extraction rate at current environment variables etc.


----------



## Halba (24 March 2007)

Hi guys

Rossing produces at around $12/lb. So to say that BMN will only get a small cut out of what is in the ground is not right. Rossing grade same as BMN.


----------



## nizar (24 March 2007)

Technically looks brilliant.
Retrace to the roof of the previous trading channel, will use that as a base.
I would expect a rebound on monday and new highs to be made next week.


----------



## RIC (24 March 2007)

capt john

if they prove up a large resource of say 200-300,000t u308
then a production rate of 7000 t u308 per year should be achievable at  91 usd /lb npat is

7000*(248000-50000)*.97*.7= 941m less say 41m for
repay constr costs, int etc
then npat of 900m and say pe of 15 =mcap of 13.5 bn
with say 170m shares on issue at production=sp $79.41
also remember that u308 is expected to keep increasing.
shortgage of uranium is expected for next 20-30 years 
maybe i should stop posting these details as we could
be pdn next victim.


----------



## Halba (24 March 2007)

Also RIC, this would make our resources close to Cameco's size, but as far as I know not near any bloody lakes.  :

Currently it is BHP no1, Cameco no.2, ERA no3, SXR no.4, PDN no.5 in size of resources.

Hopefully BMN can make its mark on those.


----------



## mmmmining (24 March 2007)

RIC said:
			
		

> capt john
> 
> if they prove up a large resource of say 200-300,000t u308
> then a production rate of 7000 t u308 per year should be achievable at  91 usd /lb npat is
> ...




Very ambitious goal. Look, it will be world No1 or No2 miner. Rossing is at 3000t.

I guess every shareholder of uranium hopefuls would like you to do the scope study..


----------



## nizar (24 March 2007)

Halba said:
			
		

> Also RIC, this would make our resources close to Cameco's size, but as far as I know not near any bloody lakes.  :
> 
> Currently it is BHP no1, Cameco no.2, ERA no3, SXR no.4, PDN no.5 in size of resources.
> 
> Hopefully BMN can make its mark on those.




Halba,

Do you know if cameco or SXR have hedged their uranium ie. sell at long term contract prices which are much lower than todays spot price?

And if they are, then until when??

I know that BHP and ERA are locked in at us$16.50/lb until around 2010ish...

I cant believe PDN has locked in half their production at us$50/lb, considering Borshoff has been a permabull from the early days...


----------



## Halba (24 March 2007)

Hi..i know ERA's won't be coming out fully till 2012, and Cameco atleast similar. Same with BHP and Rossing. Its all around 2012 when they fully come out. Theres no difference buying BMN and those, thats why its cheaper to buy the upcoming producers. SXR has 1 producing mine(with Urasia) and is unhedged. Their dominion also unhedged.


----------



## captjohn (25 March 2007)

Sunday Times (W.A.)....business section 

"Hot Stocks"...

Bannerman Resources

"Strong Buy"  

...and summary of last update highlighting probable depth extensions similar to Rossing...(based on last update in FEB.)


----------



## Halba (25 March 2007)

Yep the good ole recco...always a strong buy after a stock goes up.

{sarcasm}


----------



## the barry (25 March 2007)

captjohn said:


> Sunday Times (W.A.)....business section
> 
> "Hot Stocks"...
> 
> ...




Always good to see articles like that. Help spread the word. Will be an interesting day monday for the old uranium sector.


----------



## Halba (25 March 2007)

Yup I agree sector looks positive with a lot of overseas specialist uranium funds coming in. :


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## RIC (25 March 2007)

Can someone please provide the web address for sunday times article?


thanks


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## chris1983 (25 March 2007)

captjohn said:


> Sunday Times (W.A.)....business section
> 
> "Hot Stocks"...
> 
> ...




I havnt managed to read this but the Sunday times has been continually recommending BMN.  I think this is the third or fourth time it has been recommended.

It has never been rated "Strong Buy" in the past though.  It was always labeled as "speculative".  Everythings looking good.  Any media attention is good.


----------



## sydney1963 (26 March 2007)

RIC said:


> Can someone please provide the web address for sunday times article?
> 
> 
> thanks



The web site below for all newspapers in WA including Sunday Times



http://www.abyznewslinks.com/austrwa.htm


----------



## mildew79 (26 March 2007)

Textbook retrace friday as profit takers get carried away after thursdays great rise in SP. Considering the hype around U atm, and the very bullish break from the recent consolidation range, its very unlikely this stock shall retrace all the way back to its breakpoint. New grounds ahead very shortly imo  Holding a small parcel bought on retrace fri @ 2.94.


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## captjohn (26 March 2007)

Just opened FN Arena website & it shows *Uranium at $95  lb.*


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## Halba (26 March 2007)

Looks like it has broken out, so many buyers now and a lot takeover activity(EME) supporting all major u players.


----------



## Go Nuke (26 March 2007)

Chugging ahead with relatively little volume! Thats what i like to see! 

WOW..just wait for the announcement!
You see...right now, im happy that BMN is 41% of my small portfolio...lol

My little green MACD line has someway to travel yet i hope!


----------



## captjohn (26 March 2007)

Go Nuke said:


> Chugging ahead with relatively little volume! Thats what i like to see!
> 
> WOW..just wait for the announcement!
> You see...right now, im happy that BMN is 41% of my small portfolio...lol
> ...




 MACD has crossed up  just above the  zero line !!so plenty of upside left in SP......so fingers crossed for positive ann. soon !!


----------



## nizar (26 March 2007)

Halba said:


> Looks like it has broken out, so many buyers now and a lot takeover activity(EME) supporting all major u players.




I've always liked EME but never held because its so illiquid.
Its pretty cheap for a high grade resource (that will be extended) well even more so when I saw it at $2.00.

I think its a share split maybe 10:1 that wouldve done it for them. The spreads are criminal as well.

Ok Ok maybe its not as bad as SCX!


----------



## Halba (26 March 2007)

EME - 15million pounds in middle of NT 51% owned, market cap 180million

EV/lb $24/lb

BMN - 50million pounds+ (DJ Carmichael) $390mil mkt cap , EV/lb $7.80 - in Namibia(easier to production) 80% owned

Either EME is very expensive or theres a lot of resources untapped. Either way I know where I want my $$.

Don't think EME is 'cheap'.


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## Joe Blow (27 March 2007)

After some consideration I have removed all the posts in this thread from yesterday afternoon. Now lets keep it in perspective and move forward without the irrational hype or the sales pitches... or discussions of what car we drive. 

Just the facts please.


----------



## the barry (27 March 2007)

Something in the wind. The stock is flying. Massive buy orders, just hit 3.20.


----------



## captjohn (27 March 2007)

SP just hit  3.20........Yippee !! Who needs an announcement anyway ??.....

Yes, Joe Blow good call ....everybody getting carried too away...I reckon we all get frustrated waiting for an announcement.


----------



## Halba (27 March 2007)

Another breakout. BMN is the standout isn't it? No resistance found.


----------



## captjohn (27 March 2007)

Yes Halba no resistance from above......

Blue sky......nothing but blue sky....  BMN the "perfect share"  fundamentally & technically.

Also ERN holders should be happy coz it's now @62.5


----------



## Halba (27 March 2007)

Yep the announcement will have to be stellar, anything else and the market will be disappointed.


----------



## Go Nuke (27 March 2007)

Is ERN's resource anywhere near BMN's?

Ive tried looking at the ERN website, but it doesn't give a map.
(sorry if this question was better on ERN thread )

{from what i can gather, its near Rossing?}


----------



## nizar (27 March 2007)

I dont think this break from the trading range is anything to do with expectation of an announcement.

Just moving in line with other U-plays and the sector in general.


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## Halba (27 March 2007)

Go nuke not near at all..ERN's is much more north east of Rossing, Goanikontes is immediately south west of Rossing.

However both Rossing and Ern are in the same "Erongo province" which is a proven uranium province.


----------



## Go Nuke (27 March 2007)

Ty mate.
I'll try do more research


----------



## nsitt (27 March 2007)

We broke out of the monthly R2 pivot at $3.19 so there should be some healthy support there. The next level of resistance for swing traders would be around $3.47. 

At this rate of growth you should see $4 prices coming up by July.


----------



## nizar (28 March 2007)

Weak open (gap down).
But now we are away again.

Nice 50k buyer at $3.20 

Is that you Halba going in for a small top-up?


----------



## Halba (28 March 2007)

chris

Its assisted by last nights poor resource statement by FSY. Valencia downgraded from 42mil pounds to 30mil pounds. Average grade 180ppm. So you can see how good BMN is in comparison. Canadians are loving it.


----------



## nizar (28 March 2007)

Will be interesting to see if Mr.50k wants to step up before the close.


----------



## the barry (28 March 2007)

nizar said:


> Will be interesting to see if Mr.50k wants to step up before the close.




Just hit 3.30. If he wants them he will have to pay for them. The buyer seller chart is v strong at the moment. No big lots to sell. Buyers want big parcels though. Looks good


----------



## Halba (28 March 2007)

Yep I agree, there is an off screen bidder. It helps BMN doesn't have as many shares on issue. PDN as a comparison has 500 million shares on issue, BMN has close to a hundred mil.


----------



## Go Nuke (28 March 2007)

I just realised....the last 2 major share price rises..(Dec06-Jan07)..BMN jumped around 50-60ish cents!

Nice runs there. That would be nice to see again.
{edit-sp went up closer by 78c in mid Jan}


----------



## the barry (29 March 2007)

Some good solid buying coming in, just hit the 3.35 mark. Buy order for 30000 at 3.32. A good announcement now and the sky is the limit for this one.


----------



## Halba (29 March 2007)

Dow down a hundred last night, so todays increase in perspective?

Excellent again.


----------



## nizar (29 March 2007)

the barry said:


> Some good solid buying coming in, just hit the 3.35 mark. Buy order for 30000 at 3.32. A good announcement now and the sky is the limit for this one.




Agree, people sell their dogs not their quality stocks.


----------



## Noskcid (29 March 2007)

nizar said:


> Agree, people sell their dogs not their quality stocks.




What about sell their dogs and buy quality stocks


----------



## nizar (29 March 2007)

Noskcid said:


> What about sell their dogs and buy quality stocks




Even better LOL thats what I do.


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## nizar (29 March 2007)

Nothing on the sell side until $3.50 this stock is a winner.
Higher lows for the last 5 days, strong uptrend.


----------



## Moneybags (29 March 2007)

Ok guys, you've convinced me.........I've been watching BMN for ages and todays performance with the Dow down has clinched it for me. So I'm finally in........a little on the late side........but in all the same. 

The volume on this one seems low compared to other stocks........has it always been this way?

MB


----------



## captjohn (29 March 2007)

Moneybags said:


> Ok guys, you've convinced me.........I've been watching BMN for ages and todays performance with the Dow down has clinched it for me. So I'm finally in........a little on the late side........but in all the same.
> 
> The volume on this one seems low compared to other stocks........has it always been this way?
> 
> MB




Well done Money Bags,....there's a big future for bmn ...IMO it'll follow in pdn's footsteps......

It's  relatively low volume each trading day  coz there's low number of shares on issue...

Which has great advantages for value......

We all are expecting a large resource to be confirmed in the near future.......so in theory smallish number of shareholders divided into largish uranium deposit ..equals higher value per share..

Look back to posts where halba & chris explain it properly.....
So anyway welcome to the 'bannerman brotherhood'...


----------



## Moneybags (29 March 2007)

Thanks for the welcome Capt John. Nice to be part of a brotherhood 

I have read thru this whole thread previously and Chris and Halba have some great info posted for sure. Need to reread it though as a refresher. What a pick from Chris........truly inspirational.

MB


----------



## Go Nuke (29 March 2007)

Haha..nice 1 Chris.
The talk on the first BMN page is about how it went to 90c 

I'd be happy if I had started there too!

Well done to those that were in back then!


----------



## chris1983 (29 March 2007)

Thanks guys..Yeah I was lucky enough to have been in pre share split..but IMO this is still very early stages..I have been comparing to PDN for a long time and if the resource is larger than PDN's..with the amount of shares we have on issue..Bannerman is going to continue its amazing run.  Bannerman has been a portfolio maker for me along with AOE.  I can invest some more serious money now thanks to those two.  All the best to those coming onboard now.  ERN is the next play   I think it will pay off.  Just have to be patient and let management get things underway.  As for Bannerman..they look great.  Looking forward to the next drilling results but I have a funny feeling the depth extensions will continue to be confirmed and we are all going to be very happy.


----------



## LifeisShort (29 March 2007)

The reason that there are low volumes is the stock is tightly held and everyone wants to ride this baby all the way. Very few day traders IMO. 

Survey:

Who has got in at the lowest price and still holding?

I was in at 75c presplit....thats 25c post split

Anyone else?


----------



## mmmmining (29 March 2007)

I thought about commiting suicide since BMN did not split mine.   It is not fair. 

Wait a minute, how about people who have not met BMN yet? Do they deserve a :whip 

Excuse me,  I am in a very low state today.


----------



## captjohn (29 March 2007)

LifeisShort said:


> The reason that there are low volumes is the stock is tightly held and everyone wants to ride this baby all the way. Very few day traders IMO.
> 
> Survey:
> 
> ...




Life is short!....I'm close to you as another early bannerman boy!
My story is...........
During that big correction last May/June I sold up 15 junior mixed miners(oil,gold,nickel,zinc etc.) at a loss & decided to put all into uranium..... then spotted small Carmichael's 'buy' blurb in sunday times...that bmn had land next to palladin!!...the rest is history....

In 12 years of trading on & off I've never ever seen a share perform quite like bannerman.....obviously it's tightly held & no-one is selling off much......that nathan mc mahon is up 20+% already. I reckon they all know what's underground  ...& just keep taking the SP up !!

Anyway, I was in at 90 cents pre split & then 30 cents post split .... then kept buying up to $2-ish......and now hold 175k.....sold off 25k during recent consolidation to get into ern, ext & ero. Sometimes wonder whether correct strategy! 

I do trade (sell off) some when MACD line is well away from signal line (oversold) & buy back lower....this has only happened 4 times in 9 months.
IMO this is only the beginning of BMN....presuming drilling will confirm a large resource in the near future....   I had pdn @10 cents 4 years ago & sold out at 20 cents!!....not this time!!


----------



## Moneybags (29 March 2007)

captjohn said:


> I had pdn @10 cents 4 years ago & sold out at 20 cents!!....not this time!!




How can you ever forgive yourself Captain?  

MB


----------



## the barry (29 March 2007)

captjohn said:


> Life is short!....I'm close to you as another early bannerman boy!
> My story is...........
> During that big correction last May/June I sold up 15 junior mixed miners(oil,gold,nickel,zinc etc.) at a loss & decided to put all into uranium..... then spotted small Carmichael's 'buy' blurb in sunday times...that bmn had land next to palladin!!...the rest is history....
> 
> ...





Just on the nathan mcmahon thing, I was wrong when I posted that. Sorry all, have been going over my research and it turns up he owns that percentage of the company, except he has been in since very early days.
Sorry all. 
I got into bannermans at the 1.50 mark by chance. I was googling something and I came across this site. The first post I read was by chris (owe you a beer champ) and I bought in that day.  Bought in a few parcels up to the 2.90 mark before it retraced. Took advantage of the correction and bought another large parcel at the 2.28 mark a few weeks back.


----------



## Zamac (29 March 2007)

LifeisShort said:


> The reason that there are low volumes is the stock is tightly held and everyone wants to ride this baby all the way. Very few day traders IMO.
> 
> Survey:
> 
> ...




hmm..I thought you were in before me LIS..but I was in at 48 cents presplit.  Too bad I sold half my holding to free carry the rest.  I sold half before they even announced a share split..doh.  It wasn't really a mistake because they hadn't fully been granted the epls at that stage..it was a 30 day waiting period..and I couldnt risk not taking a profit..especially with the amount of money my portfolio started with.  All is good now though and I have no regrets   Glad to see a whole range of happy stories.  There will be more to come I'm sure.


----------



## LifeisShort (29 March 2007)

Zamac said:


> hmm..I thought you were in before me LIS..but I was in at 48 cents presplit.  Too bad I sold half my holding to free carry the rest.  I sold half before they even announced a share split..doh.  It wasn't really a mistake because they hadn't fully been granted the epls at that stage..it was a 30 day waiting period..and I couldnt risk not taking a profit..especially with the amount of money my portfolio started with.  All is good now though and I have no regrets   Glad to see a whole range of happy stories.  There will be more to come I'm sure.





So far Zamac is leading with an entry price of 16c post split.....can anyone else beat that?


----------



## chris1983 (30 March 2007)

LifeisShort said:


> So far Zamac is leading with an entry price of 16c post split.....can anyone else beat that?




Hey..lol I posted that at my bro inlaws house.  I advised him to buy BMN at 2.60..

It must of posted my message under his login 

"hmm..I thought you were in before me LIS..but I was in at 48 cents presplit. Too bad I sold half my holding to free carry the rest. I sold half before they even announced a share split..doh. It wasn't really a mistake because they hadn't fully been granted the epls at that stage..it was a 30 day waiting period..and I couldnt risk not taking a profit..especially with the amount of money my portfolio started with. All is good now though and I have no regrets  Glad to see a whole range of happy stories. There will be more to come I'm sure."


----------



## be_8_el (30 March 2007)

Hi guys, I'm new in shares and own some bmn. I have read thru this whole thread and realise alot of talk mentions *carmichael*, just wonder who is he or she and where can I find carmichael's post?


----------



## the barry (30 March 2007)

be_8_el said:


> Hi guys, I'm new in shares and own some bmn. I have read thru this whole thread and realise alot of talk mentions *carmichael*, just wonder who is he or she and where can I find carmichael's post?




If you go to the bannerman resources web page,

http://www.bannermanresources.com.au/

You can find a copy of the report there in the top right hand side of the page.


----------



## nizar (30 March 2007)

Looking like a strong open.


----------



## captjohn (30 March 2007)

nizar said:


> Looking like a strong open.




Sure is!!.....just touched 3.49


----------



## JWBH01 (30 March 2007)

When Is this likely to back off so I can top up??????????/


----------



## the barry (30 March 2007)

JWBH01 said:


> When Is this likely to back off so I can top up??????????/




Hopefully never ..........


----------



## Go Nuke (30 March 2007)

I cant help but laugh at the amount {or lack there of} of shares selling 

We know what we're on to hey Halba  
Sell 14k at $3.56..thats bout it.
Spose the buyers are drying up a bit.


----------



## Joe Blow (30 March 2007)

Please be careful to post correct information in stock threads. Posting incorrect information whether done intentionally or not is misleading.


----------



## LifeisShort (30 March 2007)

be_8_el said:


> Hi guys, I'm new in shares and own some bmn. I have read thru this whole thread and realise alot of talk mentions *carmichael*, just wonder who is he or she and where can I find carmichael's post?




Hi and welcome to the BMN exclusive fraternity. DJ Carmichael is a stockbroker based in Perth who's research team (an excellent research team mind you) has been following Bannerman since very early. When I mean following, its been putting out regular research notes on the company. Its is not the only one but they have been the first ones that got hold of the story from a broking perspective and spread the good word.


----------



## ekman (2 April 2007)

Just read a report from Resource Capital Research on Uranium price _going forward _(that phrase again !). They have mentioned almost all U minnows and others such as Summit etc but have left out Bannermans - wonder whether why


----------



## Halba (2 April 2007)

ekman said:


> Just read a report from Resource Capital Research on Uranium price _going forward _(that phrase again !). They have mentioned almost all U minnows and others such as Summit etc but have left out Bannermans - wonder whether why




Maybe they just don't cover it..they covered NUP with its 100ppm shokkas. We are still early in the boom and not that many people have heard of Banner(super) man. They didn't mention ERN either.


----------



## Halba (2 April 2007)

Dropping like water. What is going on? Even AGS is going up crazy.


----------



## chris1983 (2 April 2007)

Halba said:


> Dropping like water. What is going on? Even AGS is going up crazy.





Maybe we hit some stops?  Pretty weak stops if they were stops.


----------



## Halba (2 April 2007)

Now we need the words "scoping study"" heehee to get us going.. look at AGS, mere mention of the word, and off it goes.


----------



## mmmmining (2 April 2007)

Halba said:


> Dropping like water. What is going on? Even AGS is going up crazy.



Relax, nothing is straight up. Give some rooms for TA.


----------



## Moneybags (2 April 2007)

Halba said:


> Dropping like water. What is going on? Even AGS is going up crazy.




I admit, I just jumped out when I saw this happening. I'm determined to have a win and wasn't prepared to lose on this one. 

Should have held my ground like you seasoned professionals as it seems to have settled again. Will be back in after I mop up the puddle of sweat that is threatening to drown me. Phewwee......

MB


----------



## Halba (2 April 2007)

Moneybags said:


> I admit, I just jumped out when I saw this happening. I'm determined to have a win and wasn't prepared to lose on this one.
> 
> Should have held my ground like you seasoned professionals as it seems to have settled again. Will be back in after I mop up the puddle of sweat that is threatening to drown me. Phewwee......
> 
> MB




These are not for the faint hearted in the short term but congrats on your profit. Will see you in again soon. Moneybags just let u know that the uranium price auction is tomorrow.


----------



## Moneybags (2 April 2007)

Yes Halba.......I need to toughen up if I want to play with BMN. 

Could you elaborate on the Uranium price auction.........I'm really not up to speed with this sector.

Cheers

MB


----------



## jj0007 (2 April 2007)

Is this for real?  It dropped like 5% on small volume and its all panic and pike?   

Even if SP dropped back to $3 it is still sitting on a very strong uptrend.

Maybe the mindset is different for the ones that got on early as there is some buffer to play with.


----------



## Halba (2 April 2007)

Moneybags said:


> Yes Halba.......I need to toughen up if I want to play with BMN.
> 
> Could you elaborate on the Uranium price auction.........I'm really not up to speed with this sector.
> 
> ...




I believe being held tomorrow evening for the sale of 100,000 pounds. The last price is $95 and the auction price is expected to be higher due to short supply. The nuclear power plant companies are the ones bidding. Once it gets to the $100/lb barrier i doubt we'll see any weakness in u stocks.


----------



## Moneybags (2 April 2007)

Halba said:


> I believe being held tomorrow evening for the sale of 100,000 pounds. The last price is $95 and the auction price is expected to be higher due to short supply. The nuclear power plant companies are the ones bidding. Once it gets to the $100/lb barrier i doubt we'll see any weakness in u stocks.




Thanks Halba........much appreciated.

MB


----------



## Halba (2 April 2007)

Link to article moneybags:

http://www.miningweekly.co.za/article.php?a_id=106486

This article is an excellent read.


----------



## Moneybags (2 April 2007)

jj0007 said:


> Is this for real?  It dropped like 5% on small volume and its all panic and pike?
> 
> Even if SP dropped back to $3 it is still sitting on a very strong uptrend.
> 
> Maybe the mindset is different for the ones that got on early as there is some buffer to play with.




jj,

I can't speak for everyone........but for me, the speed with which this dropped surprised me. I'm new to BMN but have been watching for a while........and things are certainly different when your hard earned is in the share.

I agree about the buffer theory.........would love to have one.

MB


----------



## Halba (2 April 2007)

jj0007 said:


> Is this for real?  It dropped like 5% on small volume and its all panic and pike?
> 
> Even if SP dropped back to $3 it is still sitting on a very strong uptrend.
> 
> Maybe the mindset is different for the ones that got on early as there is some buffer to play with.




Not really. I didn't have much of a buffer when I topped up bmn @ 2.85 only to see it at 2.20 2 weeks later (I was in loss paper). Just a matter of sticking with it. U price keeps increasing.


----------



## Broadside (2 April 2007)

Moneybags said:


> jj,
> 
> I can't speak for everyone........but for me, the speed with which this dropped surprised me. I'm new to BMN but have been watching for a while........and things are certainly different when your hard earned is in the share.
> 
> ...




Moneybags this has always been a highly volatile stock I have held since $1 pre split which is equiv of ~ 33 cents, that was just 10 months ago, has had a stellar run but with that comes strong profit taking from time to time, then it continues its ascendancy, fundamentals are still great and the uptrend is still intact, I think it still has some way to go. Good luck.


----------



## Moneybags (2 April 2007)

Halba said:


> Link to article moneybags:
> 
> http://www.miningweekly.co.za/article.php?a_id=106486
> 
> This article is an excellent read.




Thanks again Halba.  

MB


----------



## Moneybags (2 April 2007)

Broadside said:


> Moneybags this has always been a highly volatile stock I have held since $1 pre split which is equiv of ~ 33 cents, that was just 10 months ago, has had a stellar run but with that comes strong profit taking from time to time, then it continues its ascendancy, fundamentals are still great and the uptrend is still intact, I think it still has some way to go. Good luck.




Broadside,

It was the profit taking I was worried about with the last surge and since I probably bought a little high was vulnerable. So I bailed. I will be back though and after re reading the whole thread on the weekend can see the potential in this stock. I agree fundamentals look good and the chart looks great.

MB


----------



## nizar (2 April 2007)

Moneybags said:


> It was the profit taking I was worried about with the last surge and since *I probably bought a little high was vulnerable. *




Its all relative.
THose that bought at 33c or 3c or whatever probably bought what was then the peak as well.


----------



## Halba (2 April 2007)

> Its all relative.
> THose that bought at 33c or 3c or whatever probably bought what was then the peak as well.




LOL. True. I very much doubt the BMN run ends here, uranium price is increasing tomorrow itself.


----------



## Moneybags (2 April 2007)

nizar said:


> Its all relative.
> THose that bought at 33c or 3c or whatever probably bought what was then the peak as well.




Point taken Niz.

MB


----------



## the barry (3 April 2007)

Anyone got any thoughts as to when this is going to announce something???


----------



## Halba (3 April 2007)

the barry said:


> Anyone got any thoughts as to when this is going to announce something???




Your guess is as good as mine.


----------



## captjohn (3 April 2007)

Money bags ....BMN is performing great !!.....In 12 days ...2.60 to 3.50....... so 25+%........So it's taking a breather & waiting for the moving averages to catch up !!
This is all proper trading  technique by carmichaels that do a lot of the 'day trading' on BMN.....Considering no announcement I reckon this is a fantastic increase....
...be patient......


----------



## Halba (3 April 2007)

the barry said:


> Anyone got any thoughts as to when this is going to announce something???




I have been informed by a broker(Bell potters) who does hold a large chunk of BMN, that drill results are due any day now. Resource estimates conservative in May. So they are pretty much overdue to release something.


----------



## nizar (3 April 2007)

Halba said:


> I have been informed by a broker(Bell potters) who does hold a large chunk of BMN, that drill results are due any day now. Resource estimates conservative in May. So they are pretty much overdue to release something.




Good stuff. Thanks for that, seems you're pretty connected...


----------



## Moneybags (3 April 2007)

Halba said:


> I have been informed by a broker(Bell potters) who does hold a large chunk of BMN, that drill results are due any day now. Resource estimates conservative in May. So they are pretty much overdue to release something.




Halba surely more than a few days away after director purchase yesterday.

MB


----------



## Moneybags (3 April 2007)

captjohn said:


> Money bags ....BMN is performing great !!.....In 12 days ...2.60 to 3.50....... so 25+%........So it's taking a breather & waiting for the moving averages to catch up !!
> This is all proper trading  technique by carmichaels that do a lot of the 'day trading' on BMN.....Considering no announcement I reckon this is a fantastic increase....
> ...be patient......




Yeah Cap'n ........I jumped the gun a bit yesterday..........not used to the volatility.........but I'm a stronger man for it and getting ready to set sail again.

MB


----------



## captjohn (3 April 2007)

Moneybags said:


> Halba surely more than a few days away after director purchase yesterday.
> 
> MB




That director exercised his 1.3 mill. 6 cent options.....Wow....hows that for a quick $4 mill bucks!!...


----------



## Go Nuke (3 April 2007)

Pocket money for them I suppose.

Thanks for the tip Halba


----------



## captjohn (4 April 2007)

The downgrading of ERA & dropping SP seems to be keeping pressure on BMN ERN  etc..

ERA has announced lower production for 2008....so analysts have reduced target price.


----------



## prophet174 (4 April 2007)

Director exercise of options....no responses from the avid BMN fans...maybe some not so good news forthcoming!!!


----------



## the barry (4 April 2007)

prophet174 said:


> Director exercise of options....no responses from the avid BMN fans...maybe some not so good news forthcoming!!!




Why does that mean bad news? I'm confused. If he sold off his options then I would understand your statement, but what is wrong with converting them to shares. Means he is risking a larger outlay than what he was prior to the exercise.


----------



## chris1983 (4 April 2007)

prophet174 said:


> Director exercise of options....no responses from the avid BMN fans...maybe some not so good news forthcoming!!!




There is no point in commenting..how much has the share run up in the last 2 weeks? Exercising of options is a good thing..not a bad thing.


----------



## the barry (4 April 2007)

chris1983 said:


> There is no point in commenting..how much has the share run up in the last 2 weeks? Exercising of options is a good thing..not a bad thing.




Is it just me though, or is that other statement ridiculous?


----------



## Go Nuke (4 April 2007)

How much of BMN's performance would you say, is because an ann is due soon?

{Other than the fact that its a great stock}

Thx

:microwave


----------



## prophet174 (4 April 2007)

You have to exercise before selling......"A Barry"


----------



## the barry (4 April 2007)

prophet174 said:


> You have to exercise before selling......"A Barry"




Why do you have to exercise before selling? The options he converted were the ones expiring in May under the code BMNO. Those options he exercised trade on the open market champ. Why wouldn't he just sell the options instead of converting them and then selling them? Doesn't make sense but if you would like to explain why he had to exercise them please do.


----------



## mmmmining (4 April 2007)

Where are BMN and ERN  "rampers"? Chris and Halba, you can run, but you cannot hide. Somebody piss you guys off? I am lonely now... Show up please


----------



## prophet174 (4 April 2007)

the barry said:


> Why do you have to exercise before selling? The options he converted were the ones expiring in May under the code BMNO. Those options he exercised trade on the open market champ. Why wouldn't he just sell the options instead of converting them and then selling them? Doesn't make sense but if you would like to explain why he had to exercise them please do.




I just asked the question to bring some perspective and balance into the discussion. However, IMO to maximise you return on a tightly held illiquid stock, (which translates to an even more illiquid options market) which is currently experiencing low volumes I would exercise then sell. But being the aptly named 'Barry' you have the right to your opinion and your trading strategy....ridiculous or not.


----------



## captjohn (4 April 2007)

Aghhhh !!....... took my wife to the movies this arvo ...come home & you're all  fightin'  over these bl.....dy  options.....*Of course he should exercize 'em before expiry in May....good luck to him!*! 

I'm glad bmn's slightly 'illiquid'.... coz it keeps out the daytraders.
IMO most D.T's stick to the S&P 200 where they can trade long & short(with CFD's) & get out before the close!

I agree with chris, that In 2 weeks bmn went up 30% & has now dropped 10%. who cares...very normal action.

The 20 day moving average is at $3.12. I doubt very much if sp will go below it!!
Sometimes the big traders try to trip the stop loss triggers to buy  up volume before an announcement!! They are not suposed to know  but they seem to.  Hmmmm!!....think about that one 
As I said earlier ERA has been downgraded & the rest of the fleet sink on the tide with it....


----------



## chris1983 (5 April 2007)

After BMN's strong run up off no news it looks like there are a few investors on the edge of their seats busting to get out.  It has traded on very low volume over the past few days pulling the price down.  I'll be happy if it consolidates around this area.


----------



## the barry (5 April 2007)

chris1983 said:


> After BMN's strong run up off no news it looks like there are a few investors on the edge of their seats busting to get out.  It has traded on very low volume over the past few days pulling the price down.  I'll be happy if it consolidates around this area.




Was hoping that it would consolidate around the 3.20 mark as well today. Pleasant little suprise to see it back in the mid 30's by the end of the day.


----------



## Go Nuke (5 April 2007)

Excuse me guys, but being new here. Why wasn't there much profit taking before Easter?

I was hoping it would bouce off something a liiiittle bit lower.


----------



## champ2003 (5 April 2007)

Go Nuke said:


> Excuse me guys, but being new here. Why wasn't there much profit taking before Easter?
> 
> I was hoping it would bouce off something a liiiittle bit lower.




You will have to ask Mr Market that one. Your guess is as good as mine. I can't say I'm not happy with todays rise though.


----------



## LifeisShort (5 April 2007)

If we knew how the market behaves we'd be millionaires. We know that it should start consolidating between 3-3.50 and once interim resource comes out it might changes things around


----------



## chris1983 (9 April 2007)

kennas said:


> Hard to pick a bottom for this at the moment. Depends on the overall market to some degree. Picking it up at support at $2.25 might be ok, or $1.50 ish.




Hmm..Hopefully no one sold on this post during BMN's retrace just over one month ago.  1.50 ish was no where to be seen.  Bit harsh to put a price target of 1.50 when it never broke support levels and fundamentals never changed.  Ongoing uptrend and increasing uranium price should push the quality uranium stocks with historical deposits higher.  Good luck people.


----------



## the barry (9 April 2007)

chris1983 said:


> Hmm..Hopefully no one sold on this post during BMN's retrace just over one month ago.  1.50 ish was no where to be seen.  Bit harsh to put a price target of 1.50 when it never broke support levels and fundamentals never changed.  Ongoing uptrend and increasing uranium price should push the quality uranium stocks with historical deposits higher.  Good luck people.




Have to agree, tuesday should be a belter. Bmn seems to have a mind of its own and have been burnt many a time trying to pick the short term trend. Having said that even blind man freddy could see the it is trending up though. With the recent spike in the uranium price over the weekend, all time highs isn't out of the question come tuesday.


----------



## nizar (9 April 2007)

chris1983 said:


> 1.50 ish was no where to be seen.  Bit harsh to put a price target of 1.50 when it never broke support levels and fundamentals never changed.




Fundamentals never changed with PDN and it went from $10.88 to $7.50 the low. Fair reversal.

Easy to see what you say above in HINDSIGHT.
Its a pity u cant trade in hindsight though.


----------



## chris1983 (9 April 2007)

nizar said:


> Fundamentals never changed with PDN and it went from $10.88 to $7.50 the low. Fair reversal.
> 
> Easy to see what you say above in HINDSIGHT.
> Its a pity u cant trade in hindsight though.




ahh yes..hindsight..I could of pointed it out at the time but I'm no moderator.  If you were to say BMN will be $6 soon based off fundamentals and the chart..with the addition of rising price of uranium and the world moving to cleaner energy to stop the greenhouse effect..that would be seen as a ramp.  I'm just making my point and its pretty loud and clear..very visible for all to see.

All I was saying Is I hope no one sold due to the price prediction of 1.50.  Of course those who dont hold this stock would love to see that price level.  Might be a chance to jump in.


----------



## Sean K (9 April 2007)

chris1983 said:


> Hmm..Hopefully no one sold on this post during BMN's retrace just over one month ago.  1.50 ish was no where to be seen.  Bit harsh to put a price target of 1.50 when it never broke support levels and fundamentals never changed.  Ongoing uptrend and increasing uranium price should push the quality uranium stocks with historical deposits higher.  Good luck people.




Should have put the whole post in there Chris. LOL. 



kennas said:


> Hard to pick a bottom for this at the moment. Depends on the overall market to some degree. Picking it up at support at $2.25 might be ok, or $1.50 ish. $2.50 is holding very well at the moment. I think punters are pretty sure this will come out with a decent resource estimate and has takeover spec appeal after the PDN/SMM thing. Dangerous to jump into the water at the moment, or pick bottoms, while the ASX knife is falling....I'm waiting for confirmed resumption of uptrend. Clearing $2.90 would do it for me.




On the chart at the time, $2.25 was support and then there was support at the various levels indicated and the lowest at $1.50 (actually should have been more like $1.45 ish). I was only referring to support levels here, not price targets. I actually got the $2.25 exactly correct and because it did not break down through there, the next support lines became irrelevant. And, I bought it when it broke $2.90 as I said I would. 

What's your point Chris? Are you trying to expose a Moderator as a downramper of your beloved BMN?   Move on please.  

Not impressed with stochs heading down through 50 and vol way off. MACD looks to be falling over a little as expected with the fall from recent highs. 

Fundamentals no change.

All the best to everyone on BMN. Or off it.


----------



## chris1983 (9 April 2007)

haha Im pointing out that even mods put "price predictions".  I thought that was a very bad thing to do but didnt bother saying anything as I'm not a moderator.  

Well..did clearing 2.90 do it for you?  just wondering.

A newbie seeing that little support level target you placed of 1.50 could have been a very scary thing.  Hopefully no one sold .  I must admit charts mean very little to me but it does work very well for some investors wanting to trade short term fluctuations..they can be great indicators to show the breakouts but I find it easier basing my actions off fundamentals and sticking with what you have researched because a lot of the time these breakouts could be pushed up by day traders and false rumours am I right?  On the other hand..placing a price prediction of $6 due to the demand and increasing spot price of uranium..I think this is more realistic than seeing the 1.50 support level being hit.  Do you agree?


----------



## Sean K (9 April 2007)

chris1983 said:


> haha Im pointing out that even mods put "price predictions".  I thought that was a very bad thing to do but didnt bother saying anything as I'm not a moderator.
> 
> Well..did clearing 2.90 do it for you?  just wondering.
> 
> A newbie seeing that little support level target you placed of 1.50 could have been a very scary thing.  Hopefully no one sold .  I must admit charts mean very little to me but it does work very well for some investors wanting to trade short term fluctuations..they can be great indicators to show the breakouts but I find it easier basing my actions off fundamentals and sticking with what you have researched because a lot of the time these breakouts could be pushed up by day traders and false rumours am I right?  On the other hand..placing a price prediction of $6 due to the demand and increasing spot price of uranium..I think this is more realistic than seeing the 1.50 support level being hit.  Do you agree?



Read my original post again. I said $2.25 and maybe $1.50 was possible. It didn't break. In retrospect I should have added in all the other support levels on the way down. 

Price predications are fine if they come with analysis. This has always been the policy of ASF. Nothing has changed. If your target is $6, then you need some analysis to back it up. Not just demand and U3O8 appreciation. Too vague. 

Read my post again about picking it up through $2.90. 

Please move on Chris. It's off topic now and has no value.


----------



## captjohn (9 April 2007)

*URANIUM SPOT PRICE  NOW     $113  lb......UP 16 %*

Here we go again boys !! Arrrrghh !!


----------



## the barry (9 April 2007)

captjohn said:


> *URANIUM SPOT PRICE  NOW     $113  lb......UP 16 %*
> 
> Here we go again boys !! Arrrrghh !!




Should be reported for downramping........................ just kidding.

By my calculations the spot price is up 18.95 percent. Strap in boys, tomorrow should be a belter.


----------



## jj0007 (9 April 2007)

captjohn said:


> *URANIUM SPOT PRICE  NOW     $113  lb......UP 16 %*
> 
> Here we go again boys !! Arrrrghh !!




Where's your source?


----------



## the barry (9 April 2007)

jj0007 said:


> Where's your source?





"My subscription service to TradeTech's Nuclear Market Review arrived at 5:52pm tonight and reports the new spot price is $113/lb, thanks to an auction on Tuesday of only 100K lbs by privately held Mestena Uranium LLC of Texas. We have a market that is melting UP!" Quote from the uranium, raging bull thread. Confirmed in a following post by Halba.

There is a link to a site quoting prices in one of the threads but couldn't find it. Probably in the thread Uranium, how high will it go.

Is definately $113 US.


----------



## Halba (9 April 2007)

Was known yesterday fellas, but anyway

Available here:

http://www.stockinterview.com/News/04072007/Uranium-Price-Over-Hundred.html

It will only affect these stocks through sentiment. Price is higher than expected. Bear in mind average cost of production in these mines are between $15 to $25 a pound, and if the price is over 100, very big profits for uranium companies.

The long term uranium price is $85/lb.


----------



## jj0007 (9 April 2007)

Awesome.  Breaking the $100/lb barrier might cause another flurry of punters.  Just hope it doesn't go too out of control.


Patiently waiting for Oct 07 to register my 50% CGT


----------



## siempre33 (9 April 2007)

Halba said:  "the long term uranium price is $85/lb"

how can you possibly say that? consider this....

"Steam coal averages about $30/ton and about 1500 tons of coal worth about US$45,000.00 will produce as much energy as one pound of uranium. At the current steam coal prices, on an energy equivalent basis, uranium is therefore worth about $100/gm (~450 gms/pound). 

At just $10/gram (1/10th the energy cost equivalent of coal), granitic intrusive rocks averaging about 5-7 ppm uranium (uranium porphyries?) could be open pit mined with very little if any environmental downside (I would say totally benign as many mildly radioactive granites are quarried and used for building stone etc), and fuel at least 5 times as many nuclear reactors as we have in the world now, and for centuries."


----------



## mmmmining (9 April 2007)

siempre33 said:


> Halba said:  "the long term uranium price is $85/lb"
> 
> how can you possibly say that? consider this....
> 
> ...




Only 0.71% of natural uranium is useful. As rule of thumb, 1lb natural uranium is equal to 10t thermal coal. Take into the processing and enrichment cost, if uranium price reaches US$150-200, it will make it less attractive. See my previous analysis under this thread.


----------



## Go Nuke (10 April 2007)

Well guys BMN only up 2.99% at present....but I guess thats on approx 379k of volume.
I didnt think it was that great a jump up really considering the $113/lb Uranium auction.

I guess the market is still waiting patiently for that ann?

Gee I wish I had MTN shares though! WOW.
Its on its way to over take the likes of SMM in SP value.
I still like the fundamentals of BMN so am holding onto this one for a while yet.


----------



## Moneybags (10 April 2007)

Go Nuke said:


> Well guys BMN only up 2.99% at present....but I guess thats on approx 379k of volume.
> I didnt think it was that great a jump up really considering the $113/lb Uranium auction.
> 
> I guess the market is still waiting patiently for that ann?
> ...




Yeah,

I thought this was going to run today based on U price and was concerned as I haven't got back in yet. Volume still low too ( Easter break perhaps ) or as you say Go Nuke still waiting for the announcement.

MTN - Insider will be pleased.

MB


----------



## Halba (10 April 2007)

Go Nuke said:


> Well guys BMN only up 2.99% at present....but I guess thats on approx 379k of volume.
> I didnt think it was that great a jump up really considering the $113/lb Uranium auction.
> 
> I guess the market is still waiting patiently for that ann?
> ...




I agree disappointing. This year so far BMN has underperformed. Its been slow in its drilling...drilling delays?


----------



## Go Nuke (10 April 2007)

BMN DID touch a new high today though of $3.53!

Tomorrow will be interesting.
I see alot of action around the local U players today.....but I seriously think those investors are missing out on BMN.


----------



## nizar (10 April 2007)

Halba said:


> I agree disappointing. This year so far BMN has underperformed. Its been slow in its drilling...drilling delays?




What more do you what?
Did you see its returns last year?


----------



## nizar (10 April 2007)

ALso a close above $3.50 would be an alltime high close and up by more than 5% for the day. I dont know what all the fuss is about.


----------



## Halba (10 April 2007)

Yeah okay for people who got in cheap. But its been disappointing IMHO. If PNN worth $30 a pound, EME $40 a lb, BMN so low at $3 a pound once they jorc it.


----------



## nizar (10 April 2007)

I dont think i got in cheap.
$3.05 about 2 weeks ago.

14% in 2 weeks, thats a pretty good return. Well, im happy with it.


----------



## Halba (10 April 2007)

I bought in at 3.50....picked the short term top last week   Bought too much of it as well and stuffed my average which is around 3. Ah well. I'm happy with my overall return as well . Lets not be too greedy. It is now probably one of the undervalued stocks in terms of $ per pound. I believe most near term producers being valued $30-40/lb now....


----------



## mmmmining (10 April 2007)

Halba said:


> Yeah okay for people who got in cheap. But its been disappointing IMHO. If PNN worth $30 a pound, EME $40 a lb, BMN so low at $3 a pound once they jorc it.




There is more than one way to skin a cat. 

EV/lb is not the only way to value all uranium stocks. But it is one of the best way for early or medium explorer, such as BMN.

I have to agree that BMN is very cheap. We need some drilling results, and a JORC resource. Can anyone give a call to the company?


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## nizar (10 April 2007)

mmmmining said:


> Can anyone give a call to the company?




Halba if you could please give them a call and find out whats been happening?
Your probably top10 by now so theyll look after you bro


----------



## Halba (10 April 2007)

my call last week re: drill results 

I spoke to MD Peter Batten

I asked him why there were so many drill results pending from the last report and why they weren't released to the ASX. He had no answer to my questions. He was frustrating. He responded vaguely that the drill results "were in the system". I asked him why they weren't released to the ASX and still he didn't go further. I told him i am not the only holder asking for results. He claimed i was the only one. I said bull.

Was a bit disappointed and we ended the call abruptly. I even threatened to take it to the ASX as they are breaching continuous disclosure. But later i called the company secretary and he hoped to release some results within 1-2 weeks and he was much more friendly.

Perhaps BMN management is not a strong point. The resource is great and world class ,but the mngmt could do with a kick up the good ole backside. If i was MD i would have had the shares past $10 by now, simply by increasing the results news flow.


----------



## the barry (10 April 2007)

Halba said:


> I bought in at 3.50....picked the short term top last week   Bought too much of it as well and stuffed my average which is around 3. Ah well. I'm happy with my overall return as well . Lets not be too greedy. It is now probably one of the undervalued stocks in terms of $ per pound. I believe most near term producers being valued $30-40/lb now....




In the consolidation point I bought at 2.90 only for the stock to retrace back to 2.60. Then bought the stock at 2.92 after the announcement of the results, the stock then dropped back as low as 2.28. Both times I picked the top for the runs. Am very glad now I did not sell. I'm sure you will be too very shortly.


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## mmmmining (10 April 2007)

Remember domino effect? 

Decent uranium stocks in SA up first;
Decent overseas stocks looks cheap, the market will do the rest.

Anyway, Up 12c is not too bad at all.  Just need a bit of time for market to work it up.


----------



## UraniumLover (10 April 2007)

Thinking of getting BMNO - option. 

I'm new to options. Does anyone know how BMNO would work? Should rocket fuel any future BMN growth from my limited understanding of options.


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## mmmmining (10 April 2007)

UraniumLover said:


> Thinking of getting BMNO - option.
> 
> I'm new to options. Does anyone know how BMNO would work? Should rocket fuel any future BMN growth from my limited understanding of options.




Are you crazy, expired next month, there is virtually no market for it. Are you 6.67c short?


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## UraniumLover (10 April 2007)

mmmmining said:


> Are you crazy, expired next month, there is virtually no market for it. Are you 6.67c short?




Has it .. there goes that idea .. sorry never checked it out properly.
I'll probably spend tonight in the learning option thread as well for being an idiot


----------



## Halba (10 April 2007)

;p; lOLLLLLLL. This is the funniest post i have seen today uraniumlover! go back to loving some BMN ordinary shares!!


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## LifeisShort (10 April 2007)

Halba said:


> my call last week re: drill results
> 
> I spoke to MD Peter Batten
> 
> ...




Take it easy Halba, If I was the MD I wouldn't tell you anything either cause you'd go on here and blab everything out. The company/Batten mentioned that they will be puting out all the results out together in one big report. Thats the way they are doing it to save all this regurgitation of news of 1 hole at a time. To the educated we know what the company has s it makes no difference to us. If you notice all those companies who put out results hole by hole every day they are worth ****. Its ramping. Under promise over deliver I say is the way to go. Have some patience


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## jj0007 (10 April 2007)

Thats right LifeIsShort......... drill results should come as a package to give a fair picture of what has been discovered.  Publishing one hole at at time serves no purpose but to perhaps inflat the SP in the short term....or in the event that the hole is a dud it may even cause undue panic.  Not every hole is going to strike.

Patience needed.  I'm keeping this in my bottom drawer....50% CGT kicks in later on this year


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## nizar (11 April 2007)

Nice performance this morning.
A few big buys should hold her up if she dips at lunch time like the 30k at 3.54. Then an arvo rally to close at the days highs.
In my opinion.


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## the barry (11 April 2007)

Great close. Someone picked up 28,000 as soon as the market closed taking it from 3.59 to 3.64. Can anyone give me an idea as to why you would do this?


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## nizar (11 April 2007)

the barry said:


> Great close. Someone picked up 28,000 as soon as the market closed taking it from 3.59 to 3.64. Can anyone give me an idea as to why you would do this?




Ummm probably the same reason you, me, and so many others hold.
To make money.
In my opinion.


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## Captain_Chaza (11 April 2007)

I'll have a guess

Could it be that there is "Blue Skies" ahead?
It's truly Amazing how often the Good just get Gooder at times

Maybe the world is not flat after-all
and that when you reach the top of a chart on the horizon there is another horizon to contend with tomorrow and there may even be more room to sail further North? 

Salute and Gods Speed


----------



## nizar (11 April 2007)

Yeh true.
Blue skies now.
Nice white candle, i would expect a nice gap up and another white candle 2mrw then maybe a consolidation on the next support levels (above $3.50).
EOD traders will eat this up on the open.


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## Halba (11 April 2007)

Now I am pleased    

Majorly good move today!

Comment: Perhaps going up in tandem with SMM bid.


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## chris1983 (11 April 2007)

Halba said:


> Now I am pleased
> 
> Majorly good move today!
> 
> Comment: Perhaps going up in tandem with SMM bid.




Ahhhh halba..you will be more pleased..things just take time   Its pretty fair to say if these results don't impress BMN will be in a spot of bother..but I have never even considered that the results wont be good.  They are only drilling out a historically drilled resource. So its really only a matter of getting this resource JORC compliant and confirming those depth extensions. Should be fine IMO.  Definitely Blue skys on the cards with the breaking of the previous high.  BMN are a strong stock..as are the other quality uranium explorers.


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## captjohn (11 April 2007)

Arrrrghhh!! Captain Chaza......I'm really impressed with ya graphics & welcome to the "band of bannerman boys" !!

Yes 28,000 at market price at the close auction seems positive & hopefully we will get an announcement soon.
 
Nevertheless BMN's SP is moving up very nicely without it!!


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## the barry (11 April 2007)

3,000 shares between the current price and 3.70. The share could really hit the ground running tomorrow. Not much on the sell side left. Tomorrow could be a very interesting day. Today is the first day that I can recall that Bannermans actually finished on an all time high.


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## Moneybags (12 April 2007)

Guys,

Back in this morning........should never have sold  .

Looks like BMN is going strong and from now on will try to remin calm when share price dips.

MB


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## Halba (12 April 2007)

Hi moneybags. It is simply a buy and hold. Couldn't be more simpler.


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## chris1983 (12 April 2007)

Moneybags said:


> Guys,
> 
> Back in this morning........should never have sold  .
> 
> ...





Just check out the fully diluted market cap of BMN moneybags..they are still cheap if they have the potential resource they say they could have.  A lot of investors think they are expensive right now..but hey its all about personal opinion because I think they are still cheap.  This is why I'm not selling..ride out the ups and downs with the profit takers etc etc.  Profit takers are coming in now after hitting another all time high in early trading.  My bro inlaw first bought at 2.40..then they dipped to $2 only weeks after..then he bought another lot at 2.80 and they retraced back to 2.25.  If you believe in the fundamentals..just hold on.  Good luck with your decisions.


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## nizar (12 April 2007)

Halba said:


> Hi moneybags. It is simply a buy and hold. Couldn't be more simpler.




Well said.
For me though, its, buy, and hold, with a stop that keeps rising.


----------



## Reefer (12 April 2007)

You must have the stop trailing quite a way below the SP Halba because these can be pretty volatile in intraday trade - you'd be forever being stopped if you had it too tight


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## Moneybags (12 April 2007)

Thanks for words of encouragement, guys. Yes, I wil be holding long term this time.

Gee I sure know when to buy this share........just before it drops lol.

MB


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## Halba (12 April 2007)

Reefer said:


> You must have the stop trailing quite a way below the SP Halba because these can be pretty volatile in intraday trade - you'd be forever being stopped if you had it too tight




I don't use stops. I am not a short term trader. I have never sold a single share of BMN.



> Moneybags: Gee I sure know when to buy this share........just before it drops lol.




Yep tell it to me who bought $2.85 and $3.50, all picked the short term tops.

Moneybags you should have a look at the latest carmichael report on their website. Read all the broker reports. Their tenement is quality. Target was $4.50 which is a solid achievable target.

My friend from my school bought in @ $2.50 and sold at $3.00. Jeez he is smart. At least moneybags you understand the potential of BMN.


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## chris1983 (12 April 2007)

Moneybags said:


> Thanks for words of encouragement, guys. Yes, I wil be holding long term this time.
> 
> Gee I sure know when to buy this share........just before it drops lol.
> 
> MB





It sucks when they happens..but its impossible to predict the short term fluctuations.  Not impossible to predict the longer term though.  Thats pointing up.

Just think about all those guys 1 or 2 years down the track who could very likely be saying "Gee I wish I never sold at 3.60"   They could also be saying "Im glad I got out"  but based off fundamentals..I think they will be saying the earlier of the two statements.


----------



## nizar (12 April 2007)

chris1983 said:


> Profit takers are coming in now after hitting another all time high in early trading.




Chris, dont try to rationalise BMNs poor performance this morning.

I pretty much made a living out of trading all time highs at the end of last year.

When stocks make all time highs, they tend to gap up and KEEP RUNNING at least for 1-2 days, look at EVE as an example, or even VRE, or even MTN when it first broke above $4.00 and closed at $4.27.

Many examples of such behaviour.

But to justify its poor morning performance by saying that its the norm for all time high stocks is simply not correct... in my opinion...

And for an ideal all time high stock look at EME oh mY!!


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## Halba (12 April 2007)

EME is selling at over $40/lb. I don't see value there?? BMN possibly $2-3/lb.


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## chris1983 (12 April 2007)

nizar said:


> Chris, dont try to rationalise BMNs poor performance this morning.
> 
> I pretty much made a living out of trading all time highs at the end of last year.
> 
> ...




I'm not comparing to other stocks.  Other stocks can do as they please.  If you have been following BMN though many a time profit takers come in off the highs.  It just happens.


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## nizar (12 April 2007)

Halba said:


> EME is selling at over $40/lb. I don't see value there?? BMN possibly $2-3/lb.




Doesnt matter or not whether you see value.
Im not knocking you AT ALL but you said EME was expensive at $5.
Maybe it was, but if the market likes it then you make money regardless.

Also EME is much higher grade than BMN.


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## the barry (12 April 2007)

You can't try and predict the short term movements of this stock. When you think it will go up it goes down and vice versa. The only thing you need to know is the long term trend is up. If it pulls back again in the short term i will grab a few more. You only need to look at the uranium sector and the consolidation that is going on to know that bannermans is in a great position. The only problem i have is with its communication with its shareholders. A few more progress reports as to their movements would be nice.


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## Halba (12 April 2007)

nizar said:


> Doesnt matter or not whether you see value.
> Im not knocking you AT ALL but you said EME was expensive at $5.
> Maybe it was, but if the market likes it then you make money regardless.
> 
> Also EME is much higher grade than BMN.




Still doesn't justify the fact. grade means little if pounds in the ground are so low. EME's market value is nearly 60% of BMN's yet it certainly does not have 60% of BMN's resource. Do you understand my logic? All this means is that BMN will rocket heaps later on when the jorcs finally get done. Just good for BMN holders thats all I'm saying (using the very expensive EME as a proxy).

EME - 14 million pounds JORC, 51% owned, only 7 million pounds. Market is valuing BMN at only *25million pounds at this stage*.


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## nizar (13 April 2007)

Real lack of volume yesterday and today as well.
Looks like nobody wants to make a move until an announcement is made.

Sell side is still quite thin, but volume is required or we are not going anywhere.


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## the barry (13 April 2007)

nizar said:


> Real lack of volume yesterday and today as well.
> Looks like nobody wants to make a move until an announcement is made.
> 
> Sell side is still quite thin, but volume is required or we are not going anywhere.




I would love for it to hold here for a while. The only question is when is that ellusive announcement going to come. There is action applenty everywhere in the sector at the moment. A good announcement and we would be away.


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## captjohn (13 April 2007)

the barry said:


> I would love for it to hold here for a while. The only question is when is that ellusive announcement going to come. There is action applenty everywhere in the sector at the moment. A good announcement and we would be away.




Chris Young from D J Carmichaels rang me yesterday...& among other things we discussed bmn's  share price progress.....since consolidation.
Behind the scenes their investors including themselves are waiting also!
He knows the management & considers them (bmn) are conservative types & will only announce when everything is in order.
So in one way 'no news is good news'..& could go on into May! Personally, the fundamentals are strong & I don't mind waiting for a positive report!
The SP is now only 25%-ish below DJC's target price of $4.50  which in Feb. was a 12 month time frame!
*This is great progress without an announcement!!*

Summits takeover offer has got the whole sector up for re rating. FN Arena has articles almost daily analysing the Analysts....you should join up to keep informed.


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## purple (13 April 2007)

Great progress without an announcement raises my eyebrows. BMN is trading at P/B 36.29, which is overly high imo.


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## chris1983 (13 April 2007)

purple said:


> Great progress without an announcement raises my eyebrows. BMN is trading at P/B 36.29, which is overly high imo.




Doesnt seem to be stopping the stock from hitting new highs.  I think a lot of investors just know the potential that Bannerman have.  If you wait for the announcement..as some investors may have been doing since 2.50..well you miss out.


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## purple (13 April 2007)

chris1983 said:


> Doesnt seem to be stopping the stock from hitting new highs.  I think a lot of investors just know the potential that Bannerman have.  If you wait for the announcement..as some investors may have been doing since 2.50..well you miss out.




lol...potential i know BMN has. i came in on BMN some time ago on only a small parcel, very small parcel because i was tied up in other stocks. and that parcel has already increased. 

part of me just putting out bearish feelers. i don't want to get caught out when the crash comes eventually.


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## mmmmining (13 April 2007)

purple said:


> Great progress without an announcement raises my eyebrows. BMN is trading at P/B 36.29, which is overly high imo.




Man, you find a wrong ratio.  Nobody uses it for mining company, particularly for an explorer.  Let's stick to EV/lb. BMN is still one of the cheapest ones.


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## chris1983 (13 April 2007)

purple said:


> lol...potential i know BMN has. i came in on BMN some time ago on only a small parcel, very small parcel because i was tied up in other stocks. and that parcel has already increased.
> 
> part of me just putting out bearish feelers. i don't want to get caught out when the crash comes eventually.




What makes you think it will crash?  Everytime is has retraced is has come back stronger than before.  Fundamentals havnt changed.  Based off some earlier SP predictions within the thread BMN are still cheap.  It will be interesting to see what the latest drill results produce.  Remember they are only drilling out a historic resource that was found during the early 70's and wasn't continued with due to the falling uranium price.  Things are going in the opposite direction now with the price of uranium and this doesn't look to be slowing down anytime soon.


----------



## purple (13 April 2007)

lol again...

The moment i wrote the above, i knew the bulls in this thread will come tearing me up for touching their precious beloved stock.

mmmining, i agree with you. EV/lb is a good ratio for U plays, but from time to time i check P/B just to get a bigger picture of the investment world. i'm a survivor of crashes and i don't like my portfolio painted red. maybe that's why i go in at a 80% bull-20% bear attitude.

I didn't even see the last Feb 28 mini crash coming because i was in the deep, putting my money on stocks based on their future potential and not their current worth. agreed, that's the way to take a punt on speculative plays.

chris1983, i have never been able to 100% predict market movements accurately. (and there will never be anyone else either). ships sail with 99% of the crew working on the deck and in the galleys, but there is always 1 person high up above the mast watching for danger ahead. without that 1 person, the ship should never set sail - that's asking for a shipwreck.


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## chris1983 (13 April 2007)

I wasnt tearing you up..just wondering why you think it could come crashing down.  I guess the US economy is the main concern atm.  In the end their economy wont affect the demand for uranium.  Thats why I'm not worried at all.  If their next drilling report has some dud grades i'll start worrying.


----------



## the barry (13 April 2007)

purple said:


> lol again...
> 
> The moment i wrote the above, i knew the bulls in this thread will come tearing me up for touching their precious beloved stock.
> 
> ...




Whilst it is good to be bearish at times, you only have to look around the industry to see the value in bannermans. smm and mtn are proof of this and what can be expected if the jorc complies with historical data. As stated before, they are drilling out a historical resource, so people know what is there. Combine this with the rising cost of uranium and expected shortage till at least the end of next year. You can understand why people here are bullish on this stock. At present the stock price movement justifies our position. Having said that, who knows whats around the corner.


----------



## aobed (14 April 2007)

the barry said:


> Whilst it is good to be bearish at times, you only have to look around the industry to see the value in bannermans. smm and mtn are proof of this and what can be expected if the jorc complies with historical data. As stated before, they are drilling out a historical resource, so people know what is there. Combine this with the rising cost of uranium and expected shortage till at least the end of next year. You can understand why people here are bullish on this stock. At present the stock price movement justifies our position. Having said that, who knows whats around the corner.




I must say, this is something that I'm concerned about for my position in the sense that I have a relatively small parcel (large for me however) and I'm trying to work out when to exit based on the fact that the share price has moved significantly since I purchased.  I'm curious if any others have decided to sell portions off?  What sort of exit strategy do people have?


----------



## chris1983 (14 April 2007)

aobed said:


> I must say, this is something that I'm concerned about for my position in the sense that I have a relatively small parcel (large for me however) and I'm trying to work out when to exit based on the fact that the share price has moved significantly since I purchased.  I'm curious if any others have decided to sell portions off?  What sort of exit strategy do people have?





Well I sold 50% of my holding before the share split.  That was my exit strategy.  half were then free carried.  I later sold some more of my free carried stock at 1.46 post share split to move funds into ERN. I ended up having more shares than what I originally started with due to the share split and I still do so that share split was good to me.  I bought into ERN to diversify a little and to me their market cap was dirt cheap.  It has paid off so far and I think more gains are to be realised into the future with them.  I'm free carrying the BMN I have left untill production or the uranium bull slows which doesnt seem to be happening.  In hindsight I wish I held every single share..but I have no regrets.  BMN has been a portfolio maker for me along with Arrow energy.  If you want you can always find more of a Grass root explorer and hopefully see it 3 or 4 fold from some of your profits.  Thats what I'm doing atm.  Selling 1/4 of my AOE and moving those profits into a couple of grassroot explorers.  Its the only way to make the fund grow.  I did it with BMN and I'll do it with all my stocks that go up no matter how much I like them.  I'm just sticking to the method of selling enough to free carry the rest especially if the stock you are selling is a quality stock for the future.  You then get the opportunity to pick another one because there is always going to be another one.  Others will say your crazy to even consider selling BMN.  I'm not selling anymore..but it all depends on how you feel.  Just because you sell out a small portion of your BMN doesn't mean you cant pick another winner.  You just take on a little more risk trying to pick a follow up explorer that will do well.

My personal opinion would be to hold onto BMN because I think they will be great.  I dont think the Uranium bull is over for some time and BMN in my mind will have a very large resource.  Then again my profits have been realised and im happy to free carry now.  Since you havn't taken any profits maybe you feel different.  At the time when I sold half of my BMN their licenses weren't secure yet.  So thats where the risk factors took over for me.  I had to sell half just in case everything fell through.  Good luck with your decisions.


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## jj0007 (14 April 2007)

I hope you have enough to pay those taxes Chris  
Well done an your efforts.  When you mentioned ERN I didnt think it would pay off.  That side of the tenements have not been proven up yet.

To me EXT has better acreage..but they are struggling.

I'm only holding BMN.  Not getting off on a good thing


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## chris1983 (14 April 2007)

jj0007 said:


> I hope you have enough to pay those taxes Chris
> Well done an your efforts.  When you mentioned ERN I didnt think it would pay off.  That side of the tenements have not been proven up yet.
> 
> To me EXT has better acreage..but they are struggling.
> ...





Thanks jj.  I'm also not getting off BMN now.  I have pointed them out to everyone close to me and showed them why I believe BMN are a great stock.  They all have smiles on their faces now.  I hope my exit strategy gives you some ideas AOBED.  Research real hard before you ever did jump off BMN.  If you are happy with your efforts and would like to sell some to free carry the rest..then do it.  IMO they will go a lot higher though.  EXT will bring you rewards jj..it will just take time..I'm not super fond of the management team but they have excellent land positions in Namibia.  I was more attracted to ERN due to its large land holdings and low market cap..and now the historical deposit on their licenses adds another factor to the excitement for their prospects.  My strategy atm is acquiring the last few "quality" greenfield explorers in Australia.  I currently hold ECH and am looking for another one.  Anyone want to offer any opinions PM me and ill read up on the stock you recommend


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## captjohn (14 April 2007)

Very interesting to read your theories for creating and increasing the $$ value of your portfolio.

That is selling  50% of one "outperformer",eg. bmn.... to then place the "profits" into another possible "outperformer".

The risk here of course is will the next company outperform bannerman????
BMN was 'stock of the year' on the ASX...... & could do it again!!

My strategy is to 'trade' the stock ;

That is sell off when it's overbought  &  buy back when its oversold......that's the best of both worlds ..is it not ??

This involves studying technical analsysis, charts indicators..
In 12 months bmn has had five fairly major corrections & one long consolidation.
The share price is volatile during corrections often 20-25% ....so I try to pick the highs to sell off & buy back lower..  the macd, relative strength & moving averages are closely monitored especially when the SP has moved up about 30%.
I work from home so devote the time to follow this closely.

I have faith in the fundamentals of BMN so always buy back more shares......mainly as the macd crosses to the upside.
Then I get great personal satisfaction from doing a good trade.

Everybody is different with their investing styles ......that's for sure.
The main thing is to learn along the way & learn from your mistakes.  
Good trading ....
cheers  Arghhhh !! captjohn


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## svensk (15 April 2007)

Not sure if this question is more suited for this thread, or rather the beginner's lounge, but i'll ask anyway.

Is it of concern that the SP is reaching record highs recently with such low volume (relative to that previously when highs have been reached)?


----------



## JWBH01 (16 April 2007)

captjohn said:


> Very interesting to read your theories for creating and increasing the $$ value of your portfolio.
> 
> That is selling  50% of one "outperformer",eg. bmn.... to then place the "profits" into another possible "outperformer".
> 
> ...




Captain John, I like this strategy, you must need big $$$ for this though to make it worth while.


----------



## chris1983 (16 April 2007)

captjohn said:


> Very interesting to read your theories for creating and increasing the $$ value of your portfolio.
> 
> That is selling 50% of one "outperformer",eg. bmn.... to then place the "profits" into another possible "outperformer".
> 
> ...




Your strategy is good captjohn.  Selling 50% of my holding..well I wish now in hindsight I never done it.  But at the time no one knew they were going to be the outperformer on the ASX.  Also when I sold they were in a 30 day waiting period to see if the tenements would be granted. I knew if it went through I was set..but I was also taking into consideration if the deal hadn't of gone through.  I knew all my profits would of been lost and I wasn't prepared for that risk.  Especially when my fund was only starting.

For me..sticking to a plan of selling and free carrying the rest is a plan I stick to for all stocks.  Not all stocks I hold are going to be another "Bannerman Resources".  Bannerman have just been an amazing stock.  Trading the highs and lows how you do is extremely tough.  If you do it successfully often I applaud you because they have been so unpredictable many a time.  Some guys like yourself do it successfully though..and my hat is off to those traders who can do what you do.  Would you say atm BMN are overbought?  Its so hard to say..I dont know what SP would be considered overbought..many investors would of thought they were overbought at 3.20 and sold..hoping for the retrace..but It never came.  With my technique I atleast know some profits are locked away..I can sit back..and watch the rest run.

Im doing the same thing with AOE right now..selling 1/4 of my holding and free carrying the rest.  Now its time to pick the next stock I think with excellent potential.  People will then say you are taking risk by moving into explorers that just have "potential".  Thats definately true but I have faith I will continue to pick more winners than losers and you get out of the losers before they go down too far anyway .  If you pick a dud stock..well I guess it has to happen every now and then.  BMN were also once a grassroot explorer.  They are now an advanced explorer and are one of the best uranium explorers and performers on the ASX.  Imagine if you could pick the next BMN by taking a small amount of profits.  What would be the odds of that happening?  You do give yourself the opportunity though to atleast pick the next grassroot explorer by taking some profits.  Things to look for when picking a grassroot explorer is low market cap/small amount of shares on issue and good tenement holdings/preferrably some historical data on their tenements.  Thats what I'm hoping for by selling 1/4 of my AOE.  Anyway BMN look set to do well now.  I dont know what is going to stop them.  Some bad drilling results would halt their run but I don't think it will happen.  Good luck to all BMN holders.


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## nizar (16 April 2007)

chris1983 said:


> and you get out of the losers before they go down too far anyway .




Good man.
You gotta chop those dogs.


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## captjohn (16 April 2007)

Yippee....notice announcing validated historic data & resource estimate to commence.....


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## Go Nuke (16 April 2007)

captjohn said:


> Yippee....notice announcing validated historic data & resource estimate to commence.....




Where did you find that info Captn?
Looks like BMN close down today.

Its ok..I found it on the ASX.
Sorry.
looked on BMN website but saw nothing there.


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## captjohn (16 April 2007)

Go Nuke said:


> Where did you find that info Captn?
> Looks like BMN close down today.




I have live feed on Powertrade & alert for bmnnews etc


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## chris1983 (16 April 2007)

A quick read of the announcement and it is excellent IMO.  Will go further into details on the announcement when I'm not at work.  Very happy to hold.


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## captjohn (16 April 2007)

chris1983 said:


> A quick read of the announcement and it is excellent IMO.  Will go further into details on the announcement when I'm not at work.  Very happy to hold.




Yes Chris,I had a quickie too & they emphasise it's only a portion of what's there ....so you & halba have got some homework now to work it all out.....

ALL in ALL it's fantastic news & Bannerman is on its way to be another Rossing & Paladin....Wowie  !! 
Once the analysts read this they'll have more confidence in a near term producing mine !!


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## Go Nuke (16 April 2007)

Nice.

I read there is a 123m interval @216ppm.
 And in hole GOA0010..up to 1056ppm.

 Hole GOA0012 has drilled down 350m  and found 598ppm.
 Hole GOA0018 found 1040ppm  between  315-317m deep.

I know jack about Uranium...but Im going to assume these are some fairly good numbers.
Especially if the drilling being done is only going to represent 25% of the total area of "Anomoly A" ( I think i read that right)

Tomorrow will be interesting.

:microwave


----------



## Halba (16 April 2007)

Hi all. Just came back and read BMN's latest drill results and full report. Its quite detailed. Verdict definitely positive. New holes in there 90m+ hits including GOA15. These are excellent results and in conclusion very smooth. Scoping study means that they are not mucking around. Interim resource soon. Ticks all the boxes. Not to mention plenty of stuff pending(~30 holes are pending). Only real negative is the labs delay. News flow is a bit low due to this reason. They are drilling in the south, these are new areas and if they come up with good mineral it will be rerated.


----------



## jj0007 (16 April 2007)

Can someone confirm whether scoping study is a replacement for a pre feasibility study?  It sounds like it is.


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## captjohn (16 April 2007)

Halba said:


> Hi all. Just came back and read BMN's latest drill results and full report. Its quite detailed. Verdict definitely positive. New holes in there 90m+ hits including GOA15. These are excellent results and in conclusion very smooth. Scoping study means that they are not mucking around. Interim resource soon. Ticks all the boxes. Not to mention plenty of stuff pending(~30 holes are pending). Only real negative is the labs delay. News flow is a bit low due to this reason. They are drilling in the south, these are new areas and if they come up with good mineral it will be rerated.




Thanx halba I don't know what a scoping study is or how long it takes to complete..or whats after that....

However I've got a gut feeling SP will be  sold off tomorrow by the 'short termers'....just like after last announcement ..mid Feb.-ish....

In other words SP will not be taken up to the $4.50 -$5.70 target price UNTIL a definite sized resource is CONFIRMED.
 So tomorrow I'm expecting end of day a lower closing....& may start selling off a few too !!
In conclusion absolutely wrapt that the historic drilling is now confirmed & now all we want is the size to start with & then the future potential size ....


----------



## Brujo (16 April 2007)

jj0007 said:


> Can someone confirm whether scoping study is a replacement for a pre feasibility study?  It sounds like it is.




I would assume so.  Do the big numbers on a note pad to make sure they fit , before spending months and millions on the detailed mine planning and plant design!


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## Halba (16 April 2007)

Re: scoping study. Not a replacement

This is usually done BEFORE a Prefeasibility

Scoping>>PFS>>BFS>Construction and mining. The only other companies currently in scoping are MTN and AGS. These two demand premiums.


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## zed327 (16 April 2007)

CUY as well. 

I don't hold but certainly wish i did a month back.


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## captjohn (16 April 2007)

zed327 said:


> CUY as well.
> 
> I don't hold but certainly wish i did a month back.




A friend said exactly the same thing  about Paladin  ....about 2 years ago when SP was about $2 -ish 

This is just the beginning for Uranium & Bannerman.

Todays announcement tells everybody they're on track for confirming a large resource.

90% of Uranium explorers will not be able to find an economical resource.

They will spend your money looking for it ....and then issue more shares (dilute) for more $$$$.... & then keep looking & spending.

20, 30 or 50 cent shares will rarely get up into the $3,4,5,6 range ONLY if they have U308 underground!


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## nizar (17 April 2007)

BMN was sold off after the announcement was made.
If sell off continues 2mrw, then it would be very nice if it bounced off $3.50.

If it falls through that, then the previous low on that shortened easter trading day of $3.15ish is all we could hope for. Quite a long way down.

But a bounce off $3.50 would be nice.


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## chris1983 (17 April 2007)

nizar said:


> BMN was sold off after the announcement was made.
> If sell off continues 2mrw, then it would be very nice if it bounced off $3.50.
> 
> If it falls through that, then the previous low on that shortened easter trading day of $3.15ish is all we could hope for. Quite a long way down.
> ...




I think the sell off was manipulation by a few guys.  I was watching the depth towards the close.  They had turned positive into the low 3.80's then all of a sudden they had fallen down to 3.70.  I looked at the depth and there was a number of sells in there for 300/400/500 shares.  It looked manipulated to me.  All the sell orders have now been pulled and the next sale price is $3.84.  The message was good. I think they will be up tomorrow but who knows.  Anything can spark a sell off.  Some investors get worried fast and I will just have a smile if they get sold off.  Some guys might have a chance to still pick up some bargains if they do retrace.  Tomorrow will be interesting.


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## Halba (17 April 2007)

Dow jones up over a hundred, a near record, so I would be surprised if this was down. Re read the results, it was very solid and shaping up to be a fairly large resource(due to fairly large widths).


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## nizar (17 April 2007)

chris1983 said:


> I will just have a smile if they get sold off.




Really?
Thats jus weird  

As for me, if they get sold off, i will be doing this   LOL jk


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## Halba (17 April 2007)

nizar said:


> Really?
> Thats jus weird
> 
> As for me, if they get sold off, i will be doing this   LOL jk




Too short term niz, but it looks good for today with dow up.

Hopefully a small positive day and some consolidation wouldn't mind.

The market will wait for the Carmichael Update to come out before assessing BMN. These guys are the authority on BMN.

:bart:


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## ekman (17 April 2007)

don't understand why some holders are concerned by trhe small pullback. the shares have been on the up on no news. imo the ann was already factored in by the market. i expect 'em to hold at these levels until resource est and scoping study is done or if the U price changes


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## chris1983 (17 April 2007)

All those buyers are waiting on the sidelines for the big "pullback".  I dont think its going to happen this time. *<ramp removed>*.  Gotta love the stand off atm.  The area they are drilling for the interim resource estimation only covers half of the historic drill holes.  There are drill holes further outside the zone they are drilling and the hits were good. * <ramp removed>*


----------



## chris1983 (17 April 2007)

BMN sucks :|  I hate you BMN.  Now..BMN are holding well..Im derampifying myself.


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## the barry (17 April 2007)

chris1983 said:


> All those buyers are waiting on the sidelines for the big "pullback".  I dont think its going to happen this time.   Gotta love the stand off atm.  The area they are drilling for the interim resource estimation only covers half of the historic drill holes.  There are drill holes further outside the zone they are drilling and the hits were good.





Chris,
         Was thinking along the same lines. A factor to consider though. America is up 100 points(I don't think this has an effect). which may be stalling the pullback, It is still early so the pullback may happen. 

However it is an interesting standoff at the moment. I agree past sp history has been for BMN to pull back after announcements as results seem to be applied to the sp on expectation. If it dosn't retract this time, i think it bodes v well. BMN's managment i has been excellent i think, they don't make outlandish statements & they move at a consistent pace & this latest announcement shows that they are heading in a very positive direction.

Will be interesting indeed


----------



## chris1983 (17 April 2007)

They have started to fall..down down and down she goes.  Naa i really dont think she will go down too far.  Few worried holders..wondering if BMN will follow all the previous pullbacks.  As long as she holds im happy.


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## Reefer (17 April 2007)

Has anyone analysed this announcement against what we already knew. I was attempting to compare the earlier results with the assay results from the diamond drill holes and although BMN have declared some new intersections with enormous grades, they appeared to be over pretty small intervals.  I'm no expert in these things but is it possible the ann hasn't released a lot more actual information to propel the SP higher.


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## chris1983 (17 April 2007)

Whats happening now..is a small sell off sparked by scared investors.  Fundmentals people.  I knew I would have a smile today.  I dont really care if BMN drops a little..because no matter how much they drop..3.20..3.30..I'm not selling.  What would be a bargain entry point atm?  Prolli support at 3.50 like what Nizar said earlier.


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## Halba (17 April 2007)

Look at those people selling probably don't even know what they are selling.

Most likely a 50million pound resource at least, judging by 90-150m thicknesses.


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## chris1983 (17 April 2007)

Halba said:


> Look at those people selling probably don't even know what they are selling.
> 
> Most likely a 50million pound resource at least, judging by 90-150m thicknesses.




yeah..probably the best time to buy BMN is after a good announcement.  Anyway Im off to work.  Have fun ppl.  I'll be back..


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## the barry (17 April 2007)

chris1983 said:


> Whats happening now..is a small sell off sparked by scared investors.  Fundmentals people.  I knew I would have a smile today.  I dont really care if BMN drops a little..because no matter how much they drop..3.20..3.30..I'm not selling.  What would be a bargain entry point atm?  Prolli support at 3.50 like what Nizar said earlier.




Chris,
Whats  your take on the announcement? Positive or negative? It does seem to point to a positive direction being taken but doesn't seem to back it up conclusively with drill results. Seems theres a lot of results still in the lab or they intend to do more drilling. Seems in some ways to be a lot of talk with not enough factual evidence to back it up. Interested on your thoughts.


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## captjohn (17 April 2007)

Halba said:


> Too short term niz, but it looks good for today with dow up.
> 
> Hopefully a small positive day and some consolidation wouldn't mind.
> 
> ...




Halba I agree with that remark coz I know DJC's do most of the big trading $$.
Ireckon the SP now will consolidate  around $3.50-ish to allow moving averages to catch up...
Then we wait again for next announcement.


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## prophet174 (17 April 2007)

Has anyone read the article in today's Fin Review: Mining chief warns of overheating uranium by Michael Vaughan?

I am at a loss as to why BMN, being the best peformer on the asx last year, is never quoted when it comes to U topics. Does anyone know Michael to give him a heads up on what is going on with BMN....


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## Halba (17 April 2007)

Poor article with no real explanation on why uranium price would go down. I agree with John Borchoff's view of things i.e. the fundamental shift argument "it is here to stay".


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## chris1983 (17 April 2007)

the barry said:


> Chris,
> Whats  your take on the announcement? Positive or negative? It does seem to point to a positive direction being taken but doesn't seem to back it up conclusively with drill results. Seems theres a lot of results still in the lab or they intend to do more drilling. Seems in some ways to be a lot of talk with not enough factual evidence to back it up. Interested on your thoughts.




Positive.  As long as they continue to prove the historical resource is there I'm happy.  I just got a workmate of mine to buy some BMN.  So I'm still very confident.  There is nothing more I need to know...except to just hold on and wait.  BMN will be a producer before most or all of the Australian explorers.  Thats my opinion.


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## captjohn (17 April 2007)

prophet174 said:


> Has anyone read the article in today's Fin Review: Mining chief warns of overheating uranium by Michael Vaughan?
> 
> I am at a loss as to why BMN, being the best peformer on the asx last year, is never quoted when it comes to U topics. Does anyone know Michael to give him a heads up on what is going on with BMN....




Let Michael do his own research!!

IMO within 2 or 3 months BMN will confirm 30 -50 mt of U3o8 then onto JORC .


Then this  news will  spread around the sector like wildfire.....coz  bmn will be hot favorite to be into production before MTN & AGS,SMM etc.
I am member of Fat Prophets,FN Arena & will be pushing them to do write ups immediately on the announcements.

Just then watch the punters sell off all the U explorers that can't find anything!...by then bmn's   SP could be $4.50 plus.
In other words who wants the mob to get in right now....let 'em (the market) pay more for their holding off !!


----------



## Halba (17 April 2007)

Are you sure 50mT? I estimate over well over 100mT, but this will take the remainder of calendar year.


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## Sean K (17 April 2007)

Halba said:


> Are you sure 50mT? I estimate over well over 100mT, but this will take the remainder of calendar year.



I think he meant pounds. The Carmichael report is extimating 59m lbs on the upside for Anomoly A. Looks like this is the priorty this year and will be JORCed.


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## jj0007 (17 April 2007)

We have just been given the best news from BMN to date.

1) Historical drillings are confirmed.
2) Initial JORC on its way.
3) Scoping study to follow JORC.

Could not ask for anything more.  The scoping study was a nice surprise.  We knew the first two were on the cards.

Initial numbers on the resource won't be mind boggling as they are only defining resources up to 100m (averaging 70m).  And only 1.4km of strike.  We know from recent drillings that there is a lot more below 100m....and that the strike has been extended.

It's heading in the right direction and I have not felt more comfortable holding BMN.  Could be time to top up although already heavily overweight.


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## captjohn (17 April 2007)

Halba said:


> Are you sure 50mT? I estimate over well over 100mT, but this will take the remainder of calendar year.



,
Yes,of course  typo error.....must get a new secretary!Arghhh!!

Question for Halba,Chris,MMinnning,??

Can  you (clever) guys start giving thoughts to a comparison   between :
1.   getting a U mine into production (from scoping study)
*  Australia     and       Namibia  *
A recent article in FN Arena  showed  for Aust....  a lonnnng list of about 8-10 different Govt.Agencies have to give approval ....the last one being Native title claims that want a part of the action (ie.royalties = big $$$,of course)

Now compare this scenario to Namibia where every process moves along quick smart coz they need the royalties to run the country.
Maybe we could all chip in to send Halba over there to find out how long it'll take ??Hmmmm.


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## the barry (17 April 2007)

Can someone please clafity this for me,

1) They are at present doing a interim resource which is to be drilled at 100*100 meters to a depth of 50 - 100 meters. This interim target will only be 25percent of the targeted area.

2) Once they have the interem study they will commence a scoping study which will be drilled at 50*50 meter intervals down to a depth of 300 meters. Also, will the scoping study be 100 percent of the targeted area?

Can someone please tell me if this is right and also give me a time span they think it will take to announce the interim resource and the final scoping study.

Thanks


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## Halba (17 April 2007)

captjohn said:


> ,
> Yes,of course  typo error.....must get a new secretary!Arghhh!!
> 
> Question for Halba,Chris,MMinnning,??
> ...




I imagine two year time difference captjohn, that is the approval process takes 1-2 yrs in Australia, whereas this will not be there in Africa. Also labour costs low.


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## monaliza (17 April 2007)

Can anyone explain why most u stocks down today???[PDN -%5.8]


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## captjohn (17 April 2007)

monaliza said:


> Can anyone explain why most u stocks down today???[PDN -%5.8]




PDN's capitalization has been diluted 26% in order to takeover SMM.
If summit was 'worthless' then PDN's SP would go down to $8.50...but they add on what summit is worth in the future.....maybe nothing unless QLD. allow U mining!...Get it ..good!!..The analysts are still scratching their heads ...me too !!


----------



## timelord (19 April 2007)

Any thoughts where BMN might find support?


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## Sean K (19 April 2007)

timelord said:


> Any thoughts where BMN might find support?



Depends on what you call 'support' timelord. If you mean technical support, then you need to look at the chart and find the previous support and resistance lines. These are simply the places in the chart where previous high and lows align. On the way down, previous highs are best support, on the way up, previous lows are stronger resistance. The more that align the stronger the support, and resistance. These points can be horizontal and also diagonal and often form a channel which the sp will follow during a consistant period in the market. During this long bull run, there have been plenty of great examples of these channels with stocks bouncing from one to the other, and consistantly bounce of support lines or get held up at resistance. I often use these lines to indicate entry and exit points. 

BMN should find 'support' as shown on the chart below. The strongest horizontal support is between $2.75 and $2.90, but this is outside the ascending channel support line so I doubt it would get here. Notice, the bottom channel support line will coincide with the sp possibly reaching other horizontal support lines between $2.90 and $3.20. There is a strong possibility of it getting to this point as the other technical indicators are telling us that momentum is going down in both MACD and Stochastics. Best case it bounces off $3.50, but then look for a bounce off $3.20 ish. 

Having said that, these are just probabilities, and not 100% reliable. Surprise market factors will upset this 'ideal' technical set up. For example, a general market crash, or uranium spot price going to $150 next week.  

Of course, fundamentally, it could have a 12 month $4.50 price valuation, but it's not going to get there in one straight line.


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## timelord (19 April 2007)

Thanks for that.  Sold SMM after lastest PDN offer and nearly sold BMN in case of fall in share price with a view to buying more at lower support level.  Have held and I guess will wait to see what happens.  I note PDN and BMN seem to drop 20%+ when they fall before consolidating, alot more than some other Uranium shares.


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## nizar (19 April 2007)

Kennas nice chart.
For me, if it breaks through that $3.15-3.20 support, ill be out.
I think it will rebound off that. BUt if im wrong - then cya later.

My original stop was a close below $2.85. Im afraid it goes back into that $2.25-$2.90 trading range it might stay there for a bit.


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## chris1983 (19 April 2007)

Yeah good chart there.  Nothing has changed though.  So I wont be selling.  Its a classic..how many times can BMN repeat the cycle of putting out good news and falling.  Its falling off low volume.  I remember being in this same scenario a couple of months back..saying..ohh I should pick some up at 2.40.


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## Sean K (19 April 2007)

nizar said:


> For me, if it breaks through that $3.15-3.20 support, ill be out.
> 
> My original stop was a close below $2.85. Im afraid it goes back into that $2.25-$2.90 trading range it might stay there for a bit.



Personally I'd hold on till $2.90 depending on where I bought in of course. 

This is a bizaar stock. Each time good news comes out it gets sold off. I'm not sure if it's because of the buy the rumour sell the fact anomoly, or whether they are disappointing with the results. Investors might be expecting more? Can't see how they could at this stage, has potential to be an economic deposit and the market cap is relatively undemanding. 

My longer term perspective chart wise below. Outside the upward support channel would be concerning, and as you say, getting down into that box would be untidy. Around the red circle and it's bail time. I doubt it is going to get there at this stage though. Would take a huge turn in sentiment, or for their next drill holes to come up dry.

As Chrishalba   has so well pointed out though. Long term very prospective.

Charmichaels think so too in case no one has seen their report:
http://www.bannermanresources.com.au/docs/2007/BMN_Carmichael_20070223.pdf


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## chris1983 (19 April 2007)

Another good chart.  Down to 2.90 wouldnt be pretty   i dont like that.  lol.  Not a good day for me so far..take the good with the bad.


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## Halba (19 April 2007)

This is painful to watch


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## chris1983 (19 April 2007)

Halba said:


> This is painful to watch




lol.  Remain calm.  The sell off has all been off very low volume


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## Halba (19 April 2007)

chris1983 said:


> lol.  Remain calm.  The sell off has all been off very low volume




I have and I have placed some small buy orders in.


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## Sean K (19 April 2007)

Halba said:


> This is painful to watch



Buying opportunity Halba! Think positive.  It's worth $4.50 a share remember. I wouldn't be surprised if that $3.20 ish support level holds here. But don't quote me.


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## Halba (19 April 2007)

Chris I don't understand the market..ACB up 10%, and much smaller resource, mkt cap $253M.

BMN much much multiples bigger resource mkt cap $462m, down 5% today. Is the market saying BMN only has 1.5x the resource of ACB? Or ACB has half the resource of BMN? Coz thats unlikely!

Look at ACB's chart hardly a correction at all. Wheres the justice in this mkt?


----------



## chris1983 (19 April 2007)

Halba said:


> Chris I don't understand the market..ACB up 10%, and much smaller resource, mkt cap $253M.
> 
> BMN much much multiples bigger resource mkt cap $462m, down 5% today. Is the market saying BMN only has 1.5x the resource of ACB? Or ACB has half the resource of BMN? Coz thats unlikely!




Markets hard to understand sometimes.  Long term BMN will do fine IMO.  Plus I have seen this happen time after time since Ive been holding for quite some time..its like..we should place bets when the next message comes out..if its good..the stock will go down..actually call up management and tell them not to release any good news haha


----------



## nizar (19 April 2007)

Halba said:


> Chris I don't understand the market..ACB up 10%, and much smaller resource, mkt cap $253M.
> 
> BMN much much multiples bigger resource mkt cap $462m, down 5% today. Is the market saying BMN only has 1.5x the resource of ACB? Or ACB has half the resource of BMN? Coz thats unlikely!
> 
> Look at ACB's chart hardly a correction at all. Wheres the justice in this mkt?




Justice?
Why dont you look at 1-year returns, my friend.
BMN makes ACB look like a dog.

Stop trying to understand what the market does!!
Its not worth it, just when you think youve figured it out - it does something else.

Just trade it - much more profitable that way.

IF EVERYTHING TRADED AT ITS ACTUAL VALUE THEN THERE WOULD BE NO MARKET. BUT ITS A MARKET, SOME BUYERS ARE SMART, SOME ARE STUPID, THERE ARE STOCKS THAN GO FROM UNDERVALUED TO OVERVALUED, AND THEN EVEN MORE OVERVALUED, AND OTHERS THAT JUST STAY UNDERVALUED FOR YEARS AND YEARS.

Lets have a look at its 1 year chart and its corrections peak to trough.

September 2006: $1.40 to $1.00 = 29%

November 2006: $1.75 to $1.40 = 20%

December 2006: $2.20 to $1.80 = 18%

January 2007: $3.00 to $2.25 = 28%

March 2007: $3.50 to $3.16 = 10%

Average fall is 21%

April 2007: $3.94 to $3.15 = 20% ??? 
Maybe.

Not really a valid form of analysis though.
But $3.15 is the previous low from the last correction so a good chance itll hold. IMO


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## svensk (19 April 2007)

Possibility for a head and shoulders pattern forming perhaps? If the level of support at $3.20 holds and provides a springboard for the right shoulder. Just a thought.


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## chris1983 (19 April 2007)

As Nizar posted there have been lots of ups and downs but overall trend is up.  I'm confident on what they have..of course you want to see your stock continue up and up..but these retraces are healthy.  I'm expecting BMN to push well past $4 with time.  Its just progressing as a mine would when it gets closer and closer to production.  BMN are getting closer and closer to its initial JORC..then we need revised JORC..then we need all the feasibility studies..its a process..whos read rich dad poor dad?   They talk about investing in speculative stocks..and stocks that are building towards production are the best way to go.  AGM was a good example of this..PNA..all those quality stocks I find it hard to lose on.  Of course you get some that are more speculative than others but its about your level of risk.

More gains will be realised IMO.  BMN in two days has fallen from a total of how many shares?  800k volume. This is just the start people.  Be patient and let the company progress


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## nsitt (19 April 2007)

If it breaks 3.34 which is the S3 daily pivot then the next level of support is at 3.09 on the monthly pivot.  So far it seems to be holding. Volume has been pretty average so it seems like a move without very strong confidence from the other timeframe seller. I think the buyers are just waiting it out to get a cheaper buy in considering the general sinking tide of the market as a whole.


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## Halba (19 April 2007)

chris1983 said:


> As Nizar posted there have been lots of ups and downs but overall trend is up.  I'm confident on what they have..of course you want to see your stock continue up and up..but these retraces are healthy.  I'm expecting BMN to push well past $4 with time.  Its just progressing as a mine would when it gets closer and closer to production.  BMN are getting closer and closer to its initial JORC..then we need revised JORC..then we need all the feasibility studies..its a process..whos read rich dad poor dad?   They talk about investing in speculative stocks..and stocks that are building towards production are the best way to go.  AGM was a good example of this..PNA..all those quality stocks I find it hard to lose on.  Of course you get some that are more speculative than others but its about your level of risk.
> 
> More gains will be realised IMO.  BMN in two days has fallen from a total of how many shares?  800k volume. This is just the start people.  Be patient and let the company progress





Production and no production this is what bmn mkt cap should be at in one years time when the FULL expansive jorc comes:


and $15/lb value (1/2 of SMM takeover, MKT VALUE)

25 mil pounds - $375m mkt cap

50 mil pounds - $750m mkt cap 

100 mil pounds - $1.5bn mkt cap

150mil pounds - $2.25bn

etc

Mkt assumes in between 25 and 50mil pounds, but closer to 25. If BMN beats this target, the buyer of BMN shares now will make money.


----------



## chris1983 (19 April 2007)

Halba said:


> Production and no production this is what bmn mkt cap should be at in one years time when the FULL expansive jorc comes:
> 
> 
> and $15/lb value (1/2 of SMM takeover, MKT VALUE)
> ...




Yeah its not JORC compliant though.  We just gotta wait.  I think they will have more than 50mil pounds..price rises will come.  There are buyers coming in at these levels.  Its good.


----------



## chris1983 (19 April 2007)

BMN is my favourite stock.  A lot of us know its still cheap..we just have to wait untill real value comes through.  I'm guessing theres a whole bunch of investors out there that probably wouldnt even tough a stock that isn't JORC compliant..so once we get that initial resource we will be looking sweet.  Its not too far off.


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## nizar (19 April 2007)

chris1983 said:


> BMN is my favourite stock.  A lot of us know its still cheap..we just have to wait untill real value comes through.  I'm guessing theres a whole bunch of investors out there that probably wouldnt even tough a stock that isn't JORC compliant..so once we get that initial resource we will be looking sweet.  Its not too far off.




It would be my favourite stock too if i started buying at 15cents


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## professor_frink (19 April 2007)

nsitt said:


> If it breaks 3.34 which is the S3 daily pivot then the next level of support is at 3.09 on the monthly pivot.  So far it seems to be holding. Volume has been pretty average so it seems like a move without very strong confidence from the other timeframe seller. I think the buyers are just waiting it out to get a cheaper buy in considering the general sinking tide of the market as a whole.




Howdy nsitt, 

how are you finding pivots on the small caps? I just chucked a few up on BMN and on first inspection, they looked quite good!


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## captjohn (19 April 2007)

Chris & Nizar .....I absolutely agree......Its PALADIN pulling down the whole sector coz of its weighted volume ....$28 million today so far!!.
Takeover of Summit has diluted it another 25%  so  makes pdn's new share price $8-8.50-ish  its about $6 billion now .....  But then add on the value of summit  ...anyway thats a lot of shareholders to divvy up the uranium profits along the way.
I predicted this correction 3or 4 days ago....so I'm not crying in a heap .....the macd was very high so this is a normal correction which allows a new batch of buyers to get on board


----------



## nsitt (19 April 2007)

professor_frink said:


> Howdy nsitt,
> 
> how are you finding pivots on the small caps? I just chucked a few up on BMN and on first inspection, they looked quite good!




I use excel to make daily and monthly pivot calculators.

Using Price: High, Low, Close, and Range you can calculate the pivots.

R3 = R2 + Range OR R1 + Range (Depends on personal preferences here)
R2 = PP + Range
R1 = (2*PP)-Low
PP= (High + Low + Close) /3
S1= (2*PP)-High
S2= PP - Range
S3= S2 - Range OR S1 - Range (Depends on personal preferences).

You can also do midpoints of the pivots by taking the average price difference between each pivot level. When you combine the pivots along with volume analysis you can judge more accurately the strength of a move. I.e: If you break S1 on high volume you can assume that you've got over a 50% chance to keep on going down towards S2. 

Hope it helps 

Edit: Using this tomorrow Im looking at resistance at R1 = 3.51 and support at S1=3.29 with PP= 3.39


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## professor_frink (19 April 2007)

nsitt said:


> I use excel to make daily and monthly pivot calculators.
> 
> Using Price: High, Low, Close, and Range you can calculate the pivots.
> 
> ...




Hi nsitt,

I know how they are calculated, I was interested in how reliable you find them to be in the small cap stocks. Sorry, I didn't word my previous post very well.

I hadn't ever heard of someone using pivots for a small cap before(although now that I think about it, there is no reason why it shouldn't work)- they are mainly used on index futures, but I've used them on some of the top50 companies before with some good results.

After reading your post this morning, I grabbed some dodgy yahoo data(so no idea how accurate it is for a smaller company) and threw some longer timeframe pivots over BMN. It was a whole lot more impressive than I thought it would be!

I should at least post a chart so kennas doesn't yell at me for going off topic!

Sorry kennas+ bmn investors

BMN chart with some quaterly+yearly pivots on it-


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## nsitt (19 April 2007)

Yea for small caps i usually find the pivots are reliable to within .3 of a cent most of the time. 

I hold a portfolio of only 3 stocks: AOE, BMN, and SLA and every day I redo my calculations and across the charts the figures fit very well. The accuracy of the pivots extends out across a wider time frame and the monthly readings are more accurate most of the time. 

Of course i don't rely on them 100% but meerly as a rough guide so I can set myself up with a plan before the days trading begins.

Usually stocks with price distributions which tend to be towards "normal" show up better on these pivots. I've found that generally small caps which have an average value turnover of 200,000 + daily are much more accurate.


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## captjohn (20 April 2007)

Pro.Frink & Nsitt,....

Beautiful chart graphics.....Great to see some new people on the bmn thread.
I don't understand what pivots are ..but if it works for you guys .....then its fantastic.!!

We are all about to witness in the coming months the progress of bmn from an explorer into a prospective mining company.The uranium is there so now its time to work out how much!!
Paladin & Rio's Rossing have all the infrastructure in place ...roads,railway,Mill,workers ..Surely they(Bmn) will fast track every process to get into production.....& sell every pound of yellowcake at $113 plus....

Wowie  what a profit if its about $15 a pound to produce.....could be declaring dividends in no time.... ...I'm getting carried away  now so I'll shut up & go to bed...yawn yawn !!


----------



## Go Nuke (20 April 2007)

captjohn said:


> Pro.Frink & Nsitt,....
> 
> Beautiful chart graphics.....Great to see some new people on the bmn thread.
> I don't understand what pivots are ..but if it works for you guys .....then its fantastic.!!
> ...




BACK TO BED!
ITS 12.00 oclock! Captn  lol.

Yes nice looking chart, but I too have no idea about pivots.
Does anyone have any idea when the next ann might come out? Halba?
Im assuming it will  be to announce a scoping study.


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## chris1983 (20 April 2007)

Bouncing off support levels now.


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## captjohn (20 April 2007)

chris1983 said:


> Bouncing off support levels now.




Yes...Pdn has bottomed at 8.90 earlier today & looks like closing well above its opening price.......so this is all helping bmn to rise with the tide!!....ern is moving up nicely too !!


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## Sean K (20 April 2007)

svensk said:


> Possibility for a head and shoulders pattern forming perhaps? If the level of support at $3.20 holds and provides a springboard for the right shoulder. Just a thought.



Yes, I'd be on the look out for this now. If it goes back to $3.50 and stalls at that resistance level for a few days and then back down to $3.20 ish, then watch out. Target would be $2.75 ish. But, lets not get ahead of ourselves.  Might just push back up again.


----------



## UraniumLover (20 April 2007)

captjohn said:


> Yes...Pdn has bottomed at 8.90 earlier today & looks like closing well above its opening price.......so this is all helping bmn to rise with the tide!!....ern is moving up nicely too !!




Things have just recently taken off. I think people are getting positions set for next week as most U shares are coming back up now from a downward week due to greedy profit taking. Top up time


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## Halba (20 April 2007)

Closed a bit slow, but we all know what BMN has. Just a waiting game and hopefully the next leg up will commence. We know 30+ results pending so if those are released and are very positive should assist in that next leg up. Till then can vary between 3.10 and 3.65. ERN seems to be doing better because its just starting out like BMN was several months back.


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## the barry (20 April 2007)

Any one have any idea when they will announce the interim jorc?


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## Halba (20 April 2007)

Hmm interim jorc they just started processing it, it'll take a month or so? What we want is whether the 30 results pending are good. If they are very good and show large thicknesses over a good strike length this will go up for a change on an ann!


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## Little1 (20 April 2007)

Am just wondering what pivots are.  "Please explain"...or can you tell me where to find info on them. 

Thanks a lot.

Little1


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## professor_frink (20 April 2007)

Little1 said:


> Am just wondering what pivots are.  "Please explain"...or can you tell me where to find info on them.
> 
> Thanks a lot.
> 
> Little1




Hi Little1,

here are a couple of links for you-

http://www.trading-naked.com/Floor_Traders_Pivots.htm

http://www.mtrader.com/StuffOnPivots.htm

On the chart I posted yesterday, they are calculated on quaterly and yearly timeframes, which isn't exactly common, but they seem to generate some fairly good potential reversal points, and S/R areas. 

They are predominantly used by futures daytraders to help identify areas of potential support/resistance for the day. I use weekly calcualtions as well for daytrading, but for alot of daytraders, the daily calcs are more than enough.

If you have any other questions, send me a PM, so we don't sidetrack the thread anymore than I already have

Cheers


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## nsitt (20 April 2007)

For those interested in the daily pivot points for today: We got Resistance now at 3.513 and 3.597 and support at 3.333 and 3.237 (round em off of course hehe). 

The monthly pivots for BMN are resistance at: 3.92 and 4.36 (PP is at 3.09 incidently). Support is at 2.65 and 1.82.

What does this tell you? She's been climbing up really really fast. Notice the quite wide levels of support. For those holding on for the longer term it would be nice to see a bit of a correction to narrow these levels up a bit and provide a more solid base of support without those large gaps. But as long as price keeps on advancing I guess most people don't care lol! 

Will be interesting to see price action move toward May the dreaded month!

Best of trading!

Edit: Forgot to mention the daily PP which is at 3.417


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## captjohn (20 April 2007)

Hey Nsitt..& Professor Frink   ...

*You're starting to scare me with this PP stuff!!*

Whatever happened to MACD, Boll.bands,moving averages .OBV etc.

I have rellies who are traders ...& they use tech. analysis so they know where to go up to or down to!!

So what about telling us BEFORE the day starts where the SP is going to for the day....... if you can predict that I'll jump onto PP's quicksmart as the new crystal ball.

Meantime welcome to the band of  the bannerman brotherhood......& keep those PP's coming.


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## captjohn (22 April 2007)

One of the lost sailors off the Catamaran is Derek Batten.....from Perth.

Hmmmm !!....wonder if he's a rellie of our  BMN Managing Director 'Peter Batten'

What a tragedy  & mystery ??


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## captjohn (23 April 2007)

Share price volatility is decreasing, boll bands narrowing  & moving averages getting back tighter together.....so should be around $3.40-3.60-ish until something happens with market or announcement.
ho hum .....

All in all everything going great...and I'm going out to get that 'paydirt magazine' that chris said had article in it about *Namibian U mines will be quicker into production before Oz explorers.*


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## chris1983 (23 April 2007)

captjohn said:


> Share price volatility is decreasing, boll bands narrowing  & moving averages getting back tighter together.....so should be around $3.40-3.60-ish until something happens with market or announcement.
> ho hum .....
> 
> All in all everything going great...and I'm going out to get that 'paydirt magazine' that chris said had article in it about *Namibian U mines will be quicker into production before Oz explorers.*




Yeah Bannerman got a mention   Although it was only a short quick mention its good to get noticed in such an article.


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## captjohn (23 April 2007)

chris1983 said:


> Yeah Bannerman got a mention   Although it was only a short quick mention its good to get noticed in such an article.




Thanx for tip about magazine Chris,& its all good news for Namibian explorers...I'm compiling this sorta info & articles so that I can bombard DJ Carmichael's, Fat Prophets, FN Arena ..etc. as soon as BMN announce a definate sizable resource!!!
The magazine quotes 18 months to construction ...so
Maybe BMN will be the next mine into production ?


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## mildew79 (23 April 2007)

few support entry points for anyone interested.


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## nsitt (24 April 2007)

A very lacklustre day today. Had promise early on but then price drove down toward S1 at 3.33 but lucky it held up. 

Tomorrow we have our daily pivot at 3.423 with R1 at 3.497 R2 at 3.623 S1 at 3.297 and S2 at 3.223. Keep in mind that our monthly pivot is 3.09 and we havent even gone close to that so things are still looking very healthy for the month overall. 

For those not too concerned with the daily wheeling and deelings you may be interested to know that on a monthly scale the S1 is all the way down at 2.65 and R1 at 3.92.

A fairly balanced performance this month. The volume going through has been average as well. This tells me that the market is in equilibrium pretty much and prices are going to bounce between the 3.35-3.69 level until something new comes up in the news. If price drops down past 3.35 and you're not currently in position keep close eye and see if it continues to tank towards 3.09 for some bargain basement buys. If it breaks past 3.09 on high volume then....pray cause the next stop is monthly S1!


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## Halba (24 April 2007)

We must be starting to get oversold. It has gone down six out of seven trading days and continually falling frustrates me  , its going down 3-4% daily with no support evident. Was the last update that bad?


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## chris1983 (24 April 2007)

Halba said:


> We must be starting to get oversold. It has gone down six out of seven trading days and continually falling frustrates me  , its going down 3-4% daily with no support evident. Was the last update that bad?




No it was good and you know that allready.  It will move up..its consolidating atm.  Remember last time when it ran to 2.90..it fell back to the mid 2.20's at one stage.


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## the barry (24 April 2007)

Just wait 6 months and don't worry about the day to day fluctuations. This stock has a mind of its own. When it runs up, it goes for days, when it goes down it does the same. Good announcement and the stock drops, no point trying to guess what it is going to do in the short run. When you look at the longterm trend it is up, that is all you need to know. Once the interim jorc is done and the scoping study is complete watch out.


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## captjohn (24 April 2007)

Halba said:


> We must be starting to get oversold. It has gone down six out of seven trading days and continually falling frustrates me  , its going down 3-4% daily with no support evident. Was the last update that bad?




Yes Halba, I reckon we need that news of a definite resource to drive sp up!!
Question?  If 50 million lbs is confirmed within say a year...then recently you said the market cap would=$750 mill....then if shares on issue is 125 million ..then sp is approx. $5 ....is this right??


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## Halba (24 April 2007)

Yes captn, your figures appear to be about right if that is what is proved up in 12 months, maybe add a bit more for exploration upside, and add a bit more since it is an advanced project($20/lb valuation).


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## Moneybags (24 April 2007)

I'm banging my head along with you Halba.........

Should've warned you guys that when I bought it'd head south.  Now I know this is a volatile stock and feel assured by you seasoned professionals so as I said before I will try to ignore the fact that I'm in a losing position right now.

MB


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## nsitt (24 April 2007)

The price needs to come down now cause its running too hot. The price action needs to fall back into a more stable trend. If it breaks below 3.09 on good volume then the next long term support line is all the way down at 2.65! 

This is a very volatile stock considering its a small cap and you have to be carefull it doesn't run too hot. If you're holding for over a year to avoid the capital gains tax (socialist tax!) then don't concern yourself. This has been a good month. The growth has been as expected and it's likely to remain in this 3.30-3.70 range for a while until a string of announcements comes out. So no need to   cause you'll just kill off those brain cells which are devoted to analysis!


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## Moneybags (24 April 2007)

nsitt,

Unfortunately my youth took care of any brain cells I had so no real damage done with the occasional headbang.

I hear what you are saying though.

MB


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## captjohn (24 April 2007)

Halba said:


> Yes captn, your figures appear to be about right if that is what is proved up in 12 months, maybe add a bit more for exploration upside, and add a bit more since it is an advanced project($20/lb valuation).




Thanx halba, for prompt answer;     reason being that U sector analysts & observers reckon (me too) the whole sector is well overbought!.... now there's hundreds of explorers on the bandwagon adding 'uranium 'to their names....they buy up their own shares to ramp the sp up & then the 'bunnies' get sucked in & takeover from there.. 90 % will never get into production.

 So when the music stops the(analysts) advice is that you (us) should be invested in the explorers that have got resources confirmed, historical indicated, inferred, whatever.

BMN is taking another rest, getting everybody used to the sp being in the $3.30-$3.60ish range allowing a few more astute investors to get on board as indicators start to show it as 'oversold'. They jump on for the next leg up to the $4.50 zone as valued by DJ Carmichaels.


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## chris1983 (24 April 2007)

ACAP resources is catching BMN fast.  Its quite amazing.  BMN have some really good tenements in Botswana.  BMN will have their turn..its just a matter of time.


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## monaliza (24 April 2007)

captjohn said:


> Thanx halba, for prompt answer;     reason being that U sector analysts & observers reckon (me too) the whole sector is well overbought!.... now there's hundreds of explorers on the bandwagon adding 'uranium 'to their names....they buy up their own shares to ramp the sp up & then the 'bunnies' get sucked in & takeover from there.. 90 % will never get into production.
> 
> So when the music stops the(analysts) advice is that you (us) should be invested in the explorers that have got resources confirmed, historical indicated, inferred, whatever.
> 
> BMN is taking another rest, getting everybody used to the sp being in the $3.30-$3.60ish range allowing a few more astute investors to get on board as indicators start to show it as 'oversold'. They jump on for the next leg up to the $4.50 zone as valued by DJ Carmichaels.



Thanks captjohn, at least we know the other side of the story, rather than jump out of *BMN* wagon fearing the worse.


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## monaliza (24 April 2007)

Halba said:


> We must be starting to get oversold. It has gone down six out of seven trading days and continually falling frustrates me  , its going down 3-4% daily with no support evident. Was the last update that bad?



That what happened with WMT in Jan 2007, when it dropped from 12 cts to 7.8-8.2 cts all that month and I sold 110000 share at 8 cts,to see after that jumping with no stop.
It is my biggest mistake,which I do not want to do it again.
I will keep holding BMN till this consolidated period finish. Hopefully soon.


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## chris1983 (24 April 2007)

monaliza said:


> That what happened with WMT in Jan 2007, when it dropped from 12 cts to 7.8-8.2 cts all that month and I sold 110000 share at 8 cts,to see after that jumping with no stop.
> It is my biggest mistake,which I do not want to do it again.
> I will keep holding BMN till this consolidated period finish. Hopefully soon.




A lot of stocks out there are getting extremely overpriced based off market cap. I think BMN is still cheap when you take into consideration the potential size of their resource. Thats just my opinion. The only thing with BMN is that it is all "potential" atm. They need to get their initial JORC out first. Once they get things rolling the gains will come hard and fast.


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## Halba (24 April 2007)

This market is stoopid, acap nearly up to bmn's share price, both have similar shares on issue, yet has acb proven anything near to bmn's potential? acb may have 5-10m intersections, bmn is proving up 120m+ hits. ACB hasn't had a drill result since early this year and has run from $1.20 to $2.50 without an exploration result.


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## captjohn (24 April 2007)

monaliza said:


> Thanks captjohn, at least we know the other side of the story, rather than jump out of *BMN* wagon fearing the worse.




Hi Monaliza, 

BMN has recently confirmed  beyond a doubt that  the historical drilling is accurate!!!
Whew what a relief & now you/we /us can all kinda sit back & relax  knowing full well we all have a share in that wealth.....and the great news is that this is just 10% of the total strike zone ,which will also be drilled to confirm more U3o8  in due course!!

So  to borrow$150- 200 million to build a mine from the banks   they have to do all this jorc compliant,scoping studies,pre feasibility,Bankers feasibility all to show how they intend to get it out of the ground efficiently.

Hopefully , to raise the big bucks for this, they will do another share split  and/or give shareholders chance to buy more shares before the mob!

*In my opinion BMN has changed from a high priced 'speckie' into a very  low priced near term producer .
Chris seems to know how to work this out!!
*
Like all of you I watch my 'watchlist 'of all the U explorers & see them jumping 5-20% a day!!...& think   Gee Whizz !!!     I'm missing out ....WRONG  !!!
Altho' I do hold ERN ,ERO & CFE (which is waiting for ??)

The stocks cranking up are the ones with resources....remember what I said earlier ...'when the music stops.....make sure you are in one with known resources.....YOU HAVE BEEN WARNED  !!!

For example, have a look at chart of WHE !(wild horse energy....arizona USA...lotsa potential , in situ  mining ,( gets u3o8 out with recycling water etc etc. blah blah)...full page in newspapers.

remember at xmas opened at a dollar or so .....shot up in 3 weeks to 1.90 &  now 3 months later today back to $1.60.

.  Hmmmmm!!   reason????.....no confirmed resources....yet all the big names are primary shareholders holding zillions of shares....I wonder if they look at Bannermans chart & wished they were on board BMN  at xmas.

In the coming months & years many Uranium  so called 'potentials' will start to stagnate & stop trending & slip back into a 'trading range' ...waiting for a 'discovery' that won't come...most of them would have a better chance of finding Uranium in my back yard!!!  hahaha!!
Arghhhh!!......I'm not always right but never wrong !!...just ask me parrot!!!

Most of you out there are the younger 'new generation' investors...that expect prices to double in 3 months so you can get that BMW...to show how clever you are !!

However I'm a golden oldie ....that's been there done that!!
Nethertheless I'm wrapt that BMN will continue on the road to success & IMO will build a mine in the future!!
Then I'll go to Namibia for a visit.!!!


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## chris1983 (24 April 2007)

I'm happy with BMN's performance..I remember not long ago they were 2.30.  It was only just over a month ago because I told my friend in Singapore to get some.  Thats like nothing..just over a month is nothing.

BMN will probably fully fund their own mine.  They won't need to release too many shares the way they are going


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## Halba (24 April 2007)

Agreed captn you make some interesting valid points. You are looking for quality that is good. WHE doesn't have much quality assets and all are fluffy exploration targets. Cheers.

Good that you are conservative on your figs.

Re strike zone (taken from carmichael report)

Anomaly A resource: 1.7km.

Total alaskite(mineral) bearing strike length 37km.

Total % of strike = 1.7/37 = 4.5%, these will be part of the long term exploration I suppose.


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## captjohn (24 April 2007)

Halba said:


> Agreed captn you make some interesting valid points. You are looking for quality that is good. WHE doesn't have much quality assets and all are fluffy exploration targets. Cheers.
> 
> Good that you are conservative on your figs.
> 
> ...




Good on ya Halba,...you're  the perfect figure man ....quick and accurate with all your calcs.  &  its only 4.5% of the total potential area ....that's fantastic for the future.

I'm pleased you double check my ramblings about what BMN may have .!!
Here's a promise for ya.....next year ..I propose that a few of us go to visit BMN in Namibia  as the ASF contingent representing Aussie investors etc. etc. 

If the sp is Hmmmm!! say,   over $6.00 ... then I'll shout!! airfares. 
In between time back on earth....I reckon all BMN shareholders on this forum should come to Perth for the AGM.  End of OCTOBER...its my birthday as well so stay at my joint ...near the city !!  Gee .. scary isn't it  Halba meeting Chris, meeting captjohn , meeting Nizar, Barry, MMining, Monaliza, Money bags, kennas, Professor Frink.....my god !!!How much can a Koala Bare!!...haha
Anyway I'm trying to brighten yo all up coz BMN is consolidating for a while & will probably be lowish ......cheers


----------



## Halba (24 April 2007)

Positive approach noted captjohn, I guess its also near MAD MAY season one has to be aware its not just BMN share price that is weak.

If BMN does better earlier I might make the trip to Perth sooner. Have never been to Perth and it'll be a pleasure to meet everyone.


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## captjohn (24 April 2007)

Halba said:


> Positive approach noted captjohn, I guess its also near MAD MAY season one has to be aware its not just BMN share price that is weak.
> 
> If BMN does better earlier I might make the trip to Perth sooner. Have never been to Perth and it'll be a pleasure to meet everyone.





Thanx Halba for your support for a maybe meeting later into October!!
Yes I see that the ords macd is right ready to cross down into negative territory.........this will bring the big boys down & of course all the little fish will have to follow.


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## LifeisShort (24 April 2007)

captjohn said:


> Good on ya Halba,...you're  the perfect figure man ....quick and accurate with all your calcs.  &  its only 4.5% of the total potential area ....that's fantastic for the future.
> 
> I'm pleased you double check my ramblings about what BMN may have .!!
> Here's a promise for ya.....next year ..I propose that a few of us go to visit BMN in Namibia  as the ASF contingent representing Aussie investors etc. etc.
> ...




I'm holding you to that trip to Namibia.....all expenses paid. Perhaps we can turn it into a visit where we incorporate a few companies and we'll call it a safari and claim it as a business expense


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## the barry (24 April 2007)

Hey Capt,
             Love the spirit, definatley getting a little BMN Band of Brothers goiing on.. Good stuff, Love getting on here & getting the analysis of Halba & Chris & yourself. Your posts always give me a laugh. Keep up the good work.

Now we wait till they get the initial JORC out, the article suggesting an 18 month time frame till production is an exciting prospect..

I'm excited of the prospect of going through the process with this company from explorer to producer, with all the ups & downs Of the scoping study, initial JORC, BFS & then PRODUCER 

Good times ahead...


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## Halba (24 April 2007)

Fellow near term producer mkt valuations(on TSX) in Namibia:

Uramin(trekkopje project) ~$1800m mkt cap - 140mT @ 0.014%, but only 40mil lbs u308 reserves.

Forsys Metals (Valencia) ~$1000m mkt cap - about 30-40mil pounds u308 reserves. Grades about 180ppm. 

BMN targetting about 50mil pounds+. Maybe 15-25mil lbs in interim jorc? Its grades are also way higher than the above.


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## Moneybags (24 April 2007)

captjohn said:


> Good on ya Halba,...you're  the perfect figure man ....quick and accurate with all your calcs.  &  its only 4.5% of the total potential area ....that's fantastic for the future.
> 
> I'm pleased you double check my ramblings about what BMN may have .!!
> Here's a promise for ya.....next year ..I propose that a few of us go to visit BMN in Namibia  as the ASF contingent representing Aussie investors etc. etc.
> ...




You're a funny guy Cap'n and I'm glad to know you. Always refreshing to see your posts and of course the quality research of many others on the Bannerman ship.

I'm only a little bloke so you can stick me in the luggage compartment to save an airfare if ya like....... 

Cheers

MB


----------



## chris1983 (25 April 2007)

captjohn said:


> Good on ya Halba,...you're  the perfect figure man ....quick and accurate with all your calcs.  &  its only 4.5% of the total potential area ....that's fantastic for the future.
> 
> I'm pleased you double check my ramblings about what BMN may have .!!
> Here's a promise for ya.....next year ..I propose that a few of us go to visit BMN in Namibia  as the ASF contingent representing Aussie investors etc. etc.
> ...




ahhaha I come home to some interesting reading.  Over $6?  This is just my opinion...but you'll get over 6 dollars pretty easy   Dont forget the Carmichael reports valuation to a depth of 200 meters.  

_"However, the company have demonstrated potential for depth extensions at Anomaly A . Using the same metrics, depth extensions to 200 vertical meters (Rossing are currently mining at a vertical depth of 300m, with ore in the pit floor), there is potential for 58m lbs U3O8, supporting a price of $5.70 per share. This would not take into account the significant exploration potential outside of Anomaly A ."_

As myself/Halba/captjohn/LIS/ and many others have pointed out the initial resource area is so small in comparison to the total anomoly and there is additional anomolies on the license.  What was the spot price when the latest carmichael report was made?  Probably around $85/pound and the spot price continues to rise.

What about Bannermans highly prospective Botswana licenses?  Bannerman have a long way to go yet IMO.

Its good to keep up the spirit..I'm not even watching BMN closely atm..I suggest you all do the same.  When I see BMN jump up its great..but its what I expect to happen in the long term..like many of you have pointed out the long term trend is pointing up.  When BMN fall back its just time for some consolidation after a strong run.  I'm just waiting for the next leg up now.  Use the time for weakness in SP to maybe top up.  Good luck on your decisions.


----------



## captjohn (25 April 2007)

Chris,
I bought that magazine 'Paydirt' on monday arvo.
& read page 10.
Then I emailed Peter Batten at Bannerman & asked for his opinion on the article...& 
In particular to the 18 months timeframe for a mine to get into production in Namibia ......compared to 3 plus years in Australia!
I'm not expecting an answer......coz it takes as long as it takes!!


----------



## Go Nuke (25 April 2007)

captjohn said:


> Chris,
> I bought that magazine 'Paydirt' on monday arvo.
> & read page 10.
> Then I emailed Peter Batten at Bannerman & asked for his opinion on the article...&
> ...




Good stuff Cptn!

Im looking forward to that AGM
Check out the city i was born in way back in "78"


----------



## spooly74 (25 April 2007)

captjohn said:


> Chris,
> I bought that magazine 'Paydirt' on monday arvo.
> & read page 10.
> Then I emailed Peter Batten at Bannerman & asked for his opinion on the article...&
> ...




Hi Captjohn

I have not bought the Paydirt mag yet but could you give a brief summary (page 10) of how a company can go from zero (non-JORC) to producer in 18 months? 

cheers


----------



## Halba (25 April 2007)

Doesn't even need to go into production. Once JORC it will be valued at the mkt price which is close to $20/lb for a producer. It takes a bit longer to go to actual production. I think BMN full production in late 2011.


----------



## spooly74 (25 April 2007)

Halba said:


> Doesn't even need to go into production. Once JORC it will be valued at the mkt price which is close to $20/lb for a producer. It takes a bit longer to go to actual production. I think BMN full production in late 2011.




Halba,
My question was not BMN specific (although I tend to agree with your production date estimate)

I just want to know what information I am missing.

How can Namibian companies go from a non JORC compliance to production in 18 months? ......


----------



## Halba (25 April 2007)

I think the 18 month figure quoted is not from JORC to production but is JORC to *construction*.

Somebody has got that mixed up.


----------



## captjohn (26 April 2007)

spooly74 said:


> Halba,
> My question was not BMN specific (although I tend to agree with your production date estimate)
> 
> I just want to know what information I am missing.
> ...




*Hi Spooly, just gotcha message & checked article & it does say 'Namibia has no delays (like Australia) & could start CONSTRUCTION within 18 months!*'....sorry fellahs for the typo.... just got a new secretary!!

Let me know if you'd like article & I can scan it & then email to ya !!


----------



## Halba (26 April 2007)

Dow +100 points record

Canada up +70 points

BMN - 4cents again at open

Down 7 out of 8 trading days in a row. When will the bleeding stop?


----------



## chris1983 (26 April 2007)

Halba said:


> Dow +100 points record
> 
> Canada up +70 points
> 
> ...




Ive got a number of my stocks still going down.  The DOW has been going strong for the past week.  Our market isn't racing up as fast as theirs atm.


----------



## Halba (26 April 2007)

Yep notice your AOE has copped a hammmering of late as well. So its the wider aussie mkt a bit flat.


----------



## chris1983 (26 April 2007)

Halba said:


> Yep notice your AOE has copped a hammmering of late as well. So its the wider aussie mkt a bit flat.




I think our market is just very cautious atm.  Yeah AOE are taking a belting too and they are quality.  The only one holding my fund up is ECH.  Things will turn back around though.  Stay strong BMN holders   Some investors will be taking losses as well.


----------



## nizar (26 April 2007)

Halba said:


> Dow +100 points record
> 
> Canada up +70 points
> 
> ...




Halba maybe this is harsh but if you cant stand the heat get out of the oven.


----------



## Jadefox (26 April 2007)

Well I'm in board - and thanks to all for informative posts.
I believe in the long term Bannerman story.
Price has just touched 30 day ma and if history is anything to go by it won't fall much below it.


----------



## Halba (26 April 2007)

Jadefox said:


> Well I'm in board - and thanks to all for informative posts.
> I believe in the long term Bannerman story.
> Price has just touched 30 day ma and if history is anything to go by it won't fall much below it.




Interesting prediction coz it did exactly what you just said, so far. Good work.


----------



## captjohn (26 April 2007)

Jadefox said:


> Well I'm in board - and thanks to all for informative posts.
> I believe in the long term Bannerman story.
> Price has just touched 30 day ma and if history is anything to go by it won't fall much below it.





Welcome jadefox(how'd ya get that funny name?)


I think you're spot on at the 30 day M.A. & good buying under $3.30-ish!.....& stochastic has bottomed out....ideal time to buy in .
2-3 months maybe$4.50-ish & still plenty of upside !
PDN has jumped up  nearly 5% coz Areva are still buying into summit.
This helps  most boats rise on the tide!!


----------



## captjohn (26 April 2007)

Good gains today for bmn......and jadefox should be happy with picking the perfect entry earlier today!!
And HALBA will be a happy chappy too!!....closed at $3.49.


----------



## chris1983 (26 April 2007)

chris1983 said:


> I think our market is just very cautious atm.  Yeah AOE are taking a belting too and they are quality.  The only one holding my fund up is ECH.  Things will turn back around though.  Stay strong BMN holders   Some investors will be taking losses as well.




BMN ended up being the best performer for me today   We knew it was going to turn the corner sooner or later.  Hopefully it can follow up with a good day tomorrow.


----------



## Jadefox (26 April 2007)

captjohn said:


> Good gains today for bmn......and jadefox should be happy with picking the perfect entry earlier today!!
> And HALBA will be a happy chappy too!!....closed at $3.49.




Yes Cap'n - a bit lucky. Main thing is that this stock has the potential to reward shareholders for a long time to come - if I am seeing things correctly.
It has that 'ring' about it.


----------



## nsitt (26 April 2007)

Personally todays gain wasn't anything dramatic in the big scheme of things. It's still hanging around in the 3.30-3.70ish zone and it aint gonna move from there until there are more results. 

The bad news is that the daily pivot is at 3.407.  Thats an 8 cent drop to the nearest level of support! Below that S1 is at 3.323. Lots of volatility going on but that can be expected as punters try to take position for a flood of news releases. 

Tomorrow we should look to see significant resistance at R1 3.573 but I dont know if we'll get up there. If we do and can hold above that level then can expect to travel towards 3.657. 

On the monthly time frame not much is happening until 3.92 but i highly doubt we will get there this month. Not a great month but not a bad one either. The gains made in March have pretty much consolidated and thats what the SP needs right now.


----------



## chris1983 (26 April 2007)

nsitt said:


> Personally todays gain wasn't anything dramatic in the big scheme of things. It's still hanging around in the 3.30-3.70ish zone and it aint gonna move from there until there are more results.
> 
> The bad news is that the daily pivot is at 3.407.  Thats an 8 cent drop to the nearest level of support! Below that S1 is at 3.323. Lots of volatility going on but that can be expected as punters try to take position for a flood of news releases.
> 
> ...





I'll take a guess and say it will break $4 before we get anymore results.  The SP has always risen before the next announcement so we could even be looking at around 4.20-4.50.  The market knows when something is drawing near and a lot of investors will push the price higher because good results is anticipated.  Remember they are drilling a historic resource..this is why BMN has always been driven up before the announcement because investors are actually expecting good results and when the announcement is released they bail and grab profits.  Seems to be the routine Bannerman has taken lately.


----------



## chris1983 (26 April 2007)

My explanation for over $4 and even up to 4.50 is only short term price targets..if you look at the past announcements for BMN the price has always been driven up due to good results being "anticipated".  This is fact.  Unless you want to think its insider trading driving the SP up and we wouldnt want to think that.  I wont put my longterm price target because it will be considered ramping..

You also have to assess all the reports etc that were made..Carmichael..


----------



## GreatPig (26 April 2007)

Here's my current chart. Seems to be travelling along quite normally to me.

Cheers,
GP

(etc etc etc etc)


----------



## LifeisShort (27 April 2007)

Article in todays The West Australian

Great article. It mentions 4 things. Listing in Toronto, Presentation roadshow to promote company, resource estimate due next week and capital raising at the end of year for bankable feasability study......This is going to be an exciting year


----------



## Halba (27 April 2007)

LifeisShort said:


> Article in todays The West Australian
> 
> Great article. It mentions 4 things. Listing in Toronto, Presentation roadshow to promote company, resource estimate due next week and capital raising at the end of year for bankable feasability study......This is going to be an exciting year




Possible you could type out or post the article/link somewhere? Thats particularly good information L.I.S thanks/much appreciated.


----------



## captjohn (27 April 2007)

Halba said:


> Possible you could type out or post the article/link somewhere? Thats particularly good information L.I.S thanks/much appreciated.




Halba I have scanned the article & will send to you ...but need your email address....send to captjohn@bigpond.net.au


----------



## Halba (27 April 2007)

Hi captjohn. I have also obtained a copy of the article from a broker contact. It looks highly promising. 

Roadshow in a few weeks.

Yes resource estimate next week.

Batten was hyping it up - 7km of strike and they believe "down to 200metres". TSX listing also this year sometime.

20-25mil lbs resource estimate underpins BMN's current market capitalisation.


----------



## chris1983 (27 April 2007)

Halba said:


> Hi captjohn. I have also obtained a copy of the article from a broker contact. It looks highly promising.
> 
> Roadshow in a few weeks.
> 
> ...




ooo 

Initial resource estimate is what I'm looking forward too.  TSX listing..roadshows..they are doing it all


----------



## Jadefox (27 April 2007)

Cptnjohn,

I'd be grateful for a copy of the article too. With your permission I'll send you my email address,

Cheers,

Jadefox


----------



## PMG (27 April 2007)

Interesting take on things from Bloomberg. Mentions for Bannerman, Paladin, Summit and a few other players.

http://www.bloomberg.com/apps/news?pid=20601081&sid=a.xOwqLtgxqY&refer=australia


----------



## captjohn (27 April 2007)

Jadefox said:


> Cptnjohn,
> 
> I'd be grateful for a copy of the article too. With your permission I'll send you my email address,
> 
> ...




Your Captain's been a busy busy fellah.....sending articles off to friends also ASF members.
.......also to Rudi (editor) of FNArena....& 

congrats. to peter batten , for positive progress & asked why we cant raise the $$$$ here to build a mine in Namibia???...
also to DJCarmichaels etc.....

I really do need a secretary.....or my wife is going to throw computers in the rubbish bin.....coz I'm supposed to be mowing lawns today.. groan groan !!


----------



## Halba (27 April 2007)

captjohn said:


> Your Captain's been a busy busy fellah.....sending articles off to friends also ASF members.
> .......also to Rudi (editor) of FNArena....&
> 
> congrats. to peter batten , for positive progress & asked why we cant raise the $$$$ here to build a mine in Namibia???...
> ...




Anyone wanting the article please email me at nbhat@ozemail.com.au

I'll lighten capt'n's load.

The article is very promising.


----------



## chris1983 (27 April 2007)

Courtesy of Captjohn.  He pointed this out to me.

*Bannerman Looking To Fast Track Namibian Uranium*

FN Arena News - April 27 2007 
By Greg Peel

_In the central Swakopmund district of Namibia lie two of the world's largest open-cut uranium mines in Energy Resources of Australia's (ERA) Rossing and Paladin Resources' (PDN) Langer Heinrich. Also holding tenements in the district is Australian junior Bannerman Resources (BMN).

Bannerman is expected to release a resources estimate next week for its Goanikontes project which has shown similar mineralisation to ERA's Rossing. The West Australian reports some analysts are tipping an initial figure of 25 million pounds of uranium for just the small section tested so far, which should represent about 25% of the target area.

Bannerman is keen to move to a bankable feasibility study and as such may consider a Toronto listing in order to raise funds. While Bannerman's share price has run hard in recent times – along with every other uranium hopeful – the truth is that Canadian institutional investors are far more up to speed with the whole uranium story. Uranium has not been in such significant focus locally until the story became just too pressing for institutions and analysts to continue ignoring. And still, ERA and Paladin are the only two companies receiving any high-level attention.

Nevertheless, Bannerman management is about to embark on a local institutional roadshow in order to make its story known. The local uranium industry is poised to learn the outcome of the ALP conference decision on uranium mining, due anytime before Monday. While a green light will possibly excite uranium investors, the truth is we've known for months that the green was forthcoming anyway. South Australian projects have been accelerating towards production – still two to three years off – while Paladin's takeover offer for Summit Resources (SMM) has shifted the focus to Queensland. As to what Peter Beattie decides is still anyone's guess. He certainly doesn't sound like he knows either. If anything, he may still be leaning towards capitulating to the coal industry and maintaining a ban.

There will be no change of heart from Alan Carpenter in Western Australia, so there's little need to get any more excited about WA uranium projects. Unless the next election sees Carpenter ejected. In the meantime, Australian investors will do well to focus on those listed companies with interests outside the country, and not be simply beholden to the mess that is known as Australian uranium mining policy. Pay Dirt magazine has pointed out that Namibia is a land of potential, given its stable government, clear policy, and lack of any environmental protest or native title disputes. No doubt Paladin has already proved that._


----------



## jj0007 (27 April 2007)

Resource estimate next week?  hmmmm  quicker than I thought if it does come true.

A good story slowly unfolding...


----------



## captjohn (27 April 2007)

My end of week opinion is that our ASX market is into a mini correction.
Indicators show decreasing values which could develop into stronger declines ...part of the 'Sell in May & go away'.....maybe!

However Bannerman have just announced the strongest reports ever!!!
Thatis , like just next week they will confirm a large Uranium deposit which is just 25% of the area  to start with.
probably 25 million pounds...just to start with with easy open cut type recovery.
With continued drilling to the years end this will then be
 like a 100 million pounds of Uranium @ $113 apound & not hedged....so its all top dollar ....even better than Paladins  contracts....who did contracts at $40-ish!!

 Don't worry Canada knows this & wants Bmn to list on the TSX & they want to lend bmn all the $$$$ to build a mine in Namibia...They know already bmn could be into production  quicker than Aussie similars!
Articles in Paydirt April page 10 , todays westaustralian,bloombergs finance & last but not least is FN Arena ......all  telling the punters to get out of the 'Hot air hypes' with no uranium ...into the few explorers that have got something down below the ground!!

The" bunnies"  buy Uranium shares at 30-40-50-60 cents  somehow thinking these are bargain prices that will catch up to the likes of Bannerman!!

WRONG   !!

Most of these will not ever find or have any resources & spend your $$$ looking for the big discovery!!

An article on Bloomberg finance show that 60 out of 200 Uranium companies have dropped heaps....coz they are all hype...trying hard but still nothing!!
Stop being greedy......just  look for companies that have confirmed resources!!!Please   think about this very seriously !!Every week I say the same thing!!

cheers 
capt john


----------



## timelord (27 April 2007)

captjohn said:


> An article on Bloomberg finance show that 60 out of 200 Uranium companies have dropped heaps....coz they are all hype...trying hard but still nothing!!
> Stop being greedy......just  look for companies that have confirmed resources!!!Please   think about this very seriously !!Every week I say the same thing!!
> 
> cheers
> capt john




Hi Capt John

I have bought into BMN, ERN and SRZ.  Sold my SMM to invest more in the other 3. Any suggestions as possible U companies to research.  I see alot of companies suggested but unsure whether to have a mix of Australia and African companies?  It does seem a given the ALP will change the policy but outside of SA will it mean much?


----------



## captjohn (27 April 2007)

timelord said:


> Hi Capt John
> 
> I have bought into BMN, ERN and SRZ.  Sold my SMM to invest more in the other 3. Any suggestions as possible U companies to research.  I see alot of companies suggested but unsure whether to have a mix of Australia and African companies?  It does seem a given the ALP will change the policy but outside of SA will it mean much?




Thanx for asking Timelord BUT   ...I will not advise on this or that...Personally, for over a year bmn has proven to be the perfect share for me!!.....It will still increase heaps especially now coz of iminent positive announcements confirming proven resources...which is money in the bank as far as I'm concerned.

I've stopped 'diversifying' into 10 or 15 companies...I went crazy trying to trade 'em for a profit!!
I'm sticking with a "solid fundamentals" company !!
Sure they often retrace to let the Moving averages catch up ....this is normal share performance ....So What !!

cheers captjohn


----------



## nizar (27 April 2007)

Captn.
I agree it seems we are in correction mode.
Market sentiment is lacking and every rally is being sold down.

I hope BMNs announcement reaction isnt wasted because they release it during a correction.

ALso - is 25million pounds what the market expects? Seems like it, if so, then maybe we will need beyond this to get a share price reaction.

In my opinion.


----------



## chris1983 (28 April 2007)

nizar said:


> ALso - is 25million pounds what the market expects? Seems like it, if so, then maybe we will need beyond this to get a share price reaction.
> 
> In my opinion.




Who knows what the market expects...look at WMT and they have nothing right now..look at their market cap compared to Bannermans.  I think a lot of investors are staying away untill the initial JORC is confirmed. I still think it will push a lot higher if they get a 25million pound initial resource.  Quoted from the write-ups below they say

_"Bannerman is expected to release a resources estimate next week for its Goanikontes project which has shown similar mineralisation to ERA's Rossing. The West Australian reports some analysts are tipping an initial figure of 25 million pounds of uranium for just the small section tested so far, which should represent about 25% of the target area."_

hmm I think its going to go up if they get an initial resource of 25 million pounds and it only represents 25% of the target area.  Just my opinion.


----------



## jj0007 (28 April 2007)

I would be extremely happy with 25m pounds for the interim result.  Only going to a depth of 90m and 1.4km strike.  

I don't know why they used 25%.  Recent drillings shows they are still hitting U down below 200m and the strike length is much much larger.


----------



## bean (28 April 2007)

However it would be nice if they would release any info by Monday or Tuesday at the latest as they are the only stock I have.
For reasons posted elsewhere.


----------



## chris1983 (28 April 2007)

jj0007 said:


> I would be extremely happy with 25m pounds for the interim result.  Only going to a depth of 90m and 1.4km strike.
> 
> I don't know why they used 25%.  Recent drillings shows they are still hitting U down below 200m and the strike length is much much larger.




Hi JJ..the initial resource will be down to a depth of 70 meters..just to clear that up.  But yes I dont think anyone will complain with a 25 m pound resource.

Thats an inground value of over 2.8 billion based off the current spot price.  Not a bad interim resource   Hopefully the 25m pound resource is the numbers that come out next week.


----------



## UraniumLover (28 April 2007)

chris1983 said:


> Hi JJ..the initial resource will be down to a depth of 70 meters..just to clear that up.  But yes I dont think anyone will complain with a 25 m pound resource.
> 
> Thats an inground value of over 2.8 billion based off the current spot price.  Not a bad interim resource   Hopefully the 25m pound resource is the numbers that come out next week.




Chris what's the expected total finding of the uranium resource based on historical data and what they have drilled so far? I was assuming around 100 mt .. would that be around the mark?


----------



## UraniumLover (28 April 2007)

captjohn said:


> My end of week opinion is that our ASX market is into a mini correction.
> Indicators show decreasing values which could develop into stronger declines ...part of the 'Sell in May & go away'.....maybe!
> 
> However Bannerman have just announced the strongest reports ever!!!
> ...




We can't forget the effort the Captain has put into this thread. I'm still taking you on the offer of going to Nambia with a couple of bull dozers to speed up the  process and the free trip to the  BMN conference if it reaches 6.00. Good going with the research Captain.


----------



## bvbfan (28 April 2007)

I'm no uranium follower but isnt Rossing a Rio Tinto mine?
Stupid journalists not researching properly


----------



## captjohn (28 April 2007)

bvbfan said:


> I'm no uranium follower but isnt Rossing a Rio Tinto mine?
> Stupid journalists not researching properly




Yes it is RIO's mine......gavin evans (journo for bloombergs) thought Rossing is a part of ERA's holdings ...ERA was once Rio's but seperated somehow...anyway near enuff!! ... we all got the idea!


----------



## Sean K (28 April 2007)

captjohn said:


> Yes it is RIO's mine......gavin evans (journo for bloombergs) thought Rossing is a part of ERA's holdings ...ERA was once Rio's but seperated somehow...anyway near enuff!! ... we all got the idea!



Hmmm, I think ERA was owned 70% ish by North Ltd who were taken over by RIO. I owned North at the time. Nice.  Fair call on the stupid journalist. Makes you wonder about the credibility of anything else they say really.


----------



## captjohn (28 April 2007)

Uranium Lover...
Thanx for support!!

And Yes,

You have my pledge that if BMN hits $6 before the AGM...I will gladly pay for 5  BMN  ASF members to fly across to the AGM. (Airfares only)....not accommo, drinks, girly shows etc..haha....then we can work out who's going to Namibia to drive the bulldozers or wheel the wheelbarrows. hahaha !!

So remember to email me immediately it reaches the target!!


----------



## nizar (28 April 2007)

kennas said:


> Hmmm, I think ERA was owned 70% ish by North Ltd who were taken over by RIO. I owned North at the time. Nice.  Fair call on the stupid journalist. Makes you wonder about the credibility of anything else they say really.




Correct.
RIO own about 70% of ERA.

Captn - I better set my sms alerts then, so I can be among the 1st five to email you


----------



## captjohn (28 April 2007)

On a more serious note, 

a Bankable Feasibility Study (BSF).. for bmn  maybe starting at years end!!

I am asking to my learned mining engineer type members ....just what exactly does this achieve  for the big picture?...as compared to the SCOPING STUDY ?

I am guessing that the proposed Mine designers work out to produce ,say 3million pounds of U3o8 a year  they  need ,20 bulldozers,50 trucks,10 buildings for 300 workers ,etc .... all costing ,say $200 million....then get this from investors in exchange for shares at a discount to   market price.


----------



## captjohn (29 April 2007)

Blue skies for uranium industry...and the  share market in general!!

Alan Koehler & friends stating its all up up & away for a while yet!!

 Als great news from ALP conference.....this will now increase the interest in uranium & develop the sector into an important part of our economy..

Nevertheless I believe getting new mines into production in Oz will still be a lengthy process..........and Namibia  may  be quicker off the mark.

I'll be interested to hear next week just what our analysts have to say about the whole situation.....


----------



## captjohn (30 April 2007)

*Hey ...Where is everybody.......deserting the Ship already you rats ???   Arghhhh !!*

The U companies in south australia are well up today of course ..... the others so so ...

I can't wait to see what bmn's interim resource estimate is in a few days!!.....18, 20, 25 million pounds ???? @$113 a pound less $20 a pound as expenses ....Who can work it out for me ???


----------



## Moneybags (30 April 2007)

captjohn said:


> *Hey ...Where is everybody.......deserting the Ship already you rats ???   Arghhhh !!*
> 
> The U companies in south australia are well up today of course ..... the others so so ...
> 
> I can't wait to see what bmn's interim resource estimate is in a few days!!.....18, 20, 25 million pounds ???? @$113 a pound less $20 a pound as expenses ....Who can work it out for me ???




I'm here Cap'n. I expected the SA U's to be up today and plenty happy for BMN to consolidate a bit more. Wish I could help ya with the sums but my calculator doesn't have enuff noughts...arghghhhh

MB


----------



## happytown (30 April 2007)

now in pre-open,

could be the resource estimate may about to be released as indicated by posters last week

cheers 

no its just the 3rd qtr activities report

"HIGHLIGHTS

• DRILLING AT GOANIKONTES CONTINUES Diamond Drilling: 13 holes, GOA0010 – GOA0022, completed for 3493m. Programme completed. RC Drilling: 43 holes, GARC1 – GARC43, completed for 7834m. 100m x 100m first pass resource drilling continues.

• RESULTS RECEIVED Assay results have been received for an additional five diamond holes completing the first 8 diamond holes and also for 12 RC holes. New results include: 123m @ 216 ppm U3O8, 18m @ 654 ppm U3O8 92m @ 335 ppm U3O8, 18m @ 409 ppm U3O8 39m @ 237 ppm U3O8, 17m @ 539 ppm U3O8

• HISTORIC DATA VALIDATED Diamond drilling and re-probing of historic drillholes has validated the historic data. The data has now been incorporated into the project database for use in estimating an interim resource.

• INTERIM RESOURCE COMMENCED An interim resource estimate for the Anomaly A deposit is currently being finalised."


----------



## Sean K (30 April 2007)

happytown said:


> now in pre-open,
> 
> could be the resource estimate may about to be released as indicated by posters last week
> 
> cheers



No, just the Quarterly. The new results look very good, with some decent intersections above 400ppm, which is great. Would like to see an average over 300ppm plus for this. 

'The interim resource for Anomoly A is currently being finalised.'

So, shouldn't be too far away.


----------



## captjohn (30 April 2007)

happytown said:


> now in pre-open,
> 
> could be the resource estimate may about to be released as indicated by posters last week
> 
> ...




So where's chris,& Halba to work all this out ....otherwise to me it could be the cricket scores haha??


----------



## chris1983 (30 April 2007)

I'm here..running through some numbers..good announcement.  Looking forward to the resource estimate.


----------



## chris1983 (30 April 2007)

What I find amazing is how investors can sell this stock.  This is quoted from FN arena and the West Australian.

_"Bannerman is expected to release a resources estimate next week for its Goanikontes project which has shown similar mineralisation to ERA's Rossing. The West Australian reports some analysts are tipping an initial figure of 25 million pounds of uranium for just the small section tested so far, which should represent about 25% of the target area."_

They have tipped an initial figure of up to 25 million pounds of uranium over a section which covers about 25% of the target area.

I'm looking more around 16-18 million pounds of uranium based off my figures.  Now this is only to 70 meters depth and is only from 1.4 km of the initial 1.7km area. The width of the targert area is 1km. Think about the resource to a revised depth of 200 meters.  This is more likely to be around 52-55 million pounds of uranium.  This is basing everything off 300ppm average.

This is the tip of the ice-berg people.  The anomoly running around the Goanikontes dome is huge.  Who knows how much larger the resource could become.


----------



## captjohn (30 April 2007)

chris1983 said:


> What I find amazing is how investors can sell this stock.  This is quoted from FN arena and the West Australian.
> 
> _"Bannerman is expected to release a resources estimate next week for its Goanikontes project which has shown similar mineralisation to ERA's Rossing. The West Australian reports some analysts are tipping an initial figure of 25 million pounds of uranium for just the small section tested so far, which should represent about 25% of the target area."_
> 
> ...




Thanx chris, I'm glad management are getting on with it ...to start with....confirming a reasonable size for now knowing its got  a lot more....I liked the last paragraph of his report  



> *The management is mindful of the advantages of being a producer,particularly if production can be commenced in a short period & is endeavouring to progress the Company's projects to achieve this goal.*




And the sp will take care of itself  in due course......remember we don't want the mob in too early..& we've got this roadshow coming up & then toronto listing.....


----------



## Brujo (30 April 2007)

Initial resource just released - 27million pounds at 218ppm, including 21 million at 308.   Grades maybe just a little low, but generally very encouraging.

Thoughts?


----------



## chris1983 (30 April 2007)

OMG.  All I can do is smile atm.  That is absolutely huge!!  Watch this one fire up tomorrow.  Its only 25% of the initial target area!


----------



## captjohn (30 April 2007)

chris1983 said:


> OMG.  All I can do is smile atm.  That is absolutely huge!!  Watch this one fire up tomorrow.  Its only 25% of the initial target area!




Wowie ....Yippee!!!

*My alert just went bonnnn*gggg!!!

Just noticed the announcement & did a quickie read....
27 miilion .lbs.......I love it........
Sorry chris ...you miss out on your free dinner out with ya girlfriendcoz you were too bloody low with your guestimate.16-18 million... ....toooo conservative !!

But you can redeem yourself by guessing when sp will reach 6 you no whats (thats so kennas won't punish us for ramping hehehe !!)

Seriously ...great news fellahs....& now the serious end of town will start to notice HHHmmmm!!...but who got in first eh ??


----------



## chris1983 (30 April 2007)

captjohn said:


> Wowie ....Yippee!!!
> 
> *My alert just went bonnnn*gggg!!!
> 
> ...




haha they took it to 80 meters depth when they said it would be 70!  Not fair   Still I wouldn't of got that high.  Im happy.


----------



## the barry (30 April 2007)

Brujo said:


> Initial resource just released - 27million pounds at 218ppm, including 21 million at 308.   Grades maybe just a little low, but generally very encouraging.
> 
> Thoughts?





Hmmmm. What to think, on one hand a higher Tonnage than anticipated over the 1.4 km strike length at Anomaly A of 27 MT, but with a lower than hoped for grade of an average of 218.

Then this piece of encouragement from the announcement:

"The resource represents only a portion of the known extents of the deposit to date. Mineralisation
has been shown to extend to *at least 1.7 strike kilometres and to depths in excess of 300 vertical*metres. Drilling will be ongoing for the rest of the year testing the vertical and strike extents of the
deposit with the aim towards expanding the resource." 

With this strike area being around the 25% of the target area you will get investors coming in on the known resource & also investors coming in now on the potential of the other 75%.

It's a good time for investors to jump on board. The Share price should hold here on this proven result. It should then run on expectation that the strike will continue out at least to the 1.7 km mark & continue down to the 300 meter mark.

I'm V happy. I've always wanted to go to Perth as well so i might just put in a few orders at 6 to get the captain to have us all over ..arrrr All aboard the good ship Bannermans matey's

Good times


----------



## captjohn (30 April 2007)

the barry said:


> Hmmmm. What to think, on one hand a higher Tonnage than anticipated over the 1.4 km strike length at Anomaly A of 27 MT, but with a lower than hoped for grade of an average of 218.
> 
> Then this piece of encouragement from the announcement:
> 
> ...



Arghhhh!!...ye swabs trying to spike the sp already....for the  free trip 

I'll throw ya all in Pandoras box...  

Barry, I thought DJCarmichaels value was $4.50 for 25 million  lbs   &  $5.70 for 50 million..

So I think tomorrow/soon  they may start taking  the sp up accordingly!Either way this roadshow to the big money boys should start some movement.


----------



## Sean K (30 April 2007)

Good tonnage, but concerned about the grade. Might be economical with U at $100+ so let's see what Mr Market thinks tomorrow.


----------



## chris1983 (30 April 2007)

kennas said:


> Good tonnage, but concerned about the grade. Might be economical with U at $100+ so let's see what Mr Market thinks tomorrow.




OMG...might be economical..I dont know what to say to you right now Kennas.  Look at the Rossing mine.  Thats all I can say


----------



## Sean K (30 April 2007)

chris1983 said:


> OMG...might be economical..I dont know what to say to you right now Kennas.  Look at the Rossing mine.  Thats all I can say



Yep, could be. What's the grade of Valencia? Bit more than 210 ish isn't it? Have to consider depths and the type of resource too. Can you compare?


----------



## Brujo (30 April 2007)

Yeah, grade slightly concerns me, but I guess with uranium at these sort of price levels and no doubt, a lot of value to be gained from the upside.

Yeah I guess the value is in the upside, given so much more yet to come. 

I stuffed up that earlier quick summary too....I meant to say "including 21 million _tonnes_ at 308ppm".

Oh well everyone's seen the announcement by now anyway.


----------



## Sean K (30 April 2007)

Brujo said:


> I stuffed up that earlier quick summary too....I meant to say "including 21 million _tonnes_ at 308ppm".Oh well everyone's seen the announcement by now anyway.



No, I hadn't read it, went off your grades, which were low 200s. 300+ ppm is excellent for this size potential resource! Should be good for BMN holders tomorrow.


----------



## Sean K (30 April 2007)

kennas said:


> No, I hadn't read it, went off your grades, which were low 200s. 300+ ppm is excellent for this size potential resource! Should be good for BMN holders tomorrow.



Actually, I take that back. I went and looked at the ann myself and it seems that the resource is 55m tn  at 219 ppm for 26m lbs U, and down to 9m tns at 372 ppm for 7.5m lbs contained U. Depends on the cut off. So, at the higher grade there's 7.5 m lbs. From here it will depend on what is economical to dig up. The question will be that with the type of deposit it is, and the depths of the minerals - what grade is it economical? Will depend a great deal on U price perhaps and what they can hedge it at in the BFS? Thoughts?


----------



## chris1983 (30 April 2007)

kennas said:


> Actually, I take that back. I went and looked at the ann myself and it seems that the resource is 55m tn  at 219 ppm for 26m lbs U, and down to 9m tns at 372 ppm for 7.5m lbs contained U. Depends on the cut off. So, at the higher grade there's 7.5 m lbs. From here it will depend on what is economical to dig up. The question will be that with the type of deposit it is, and the depths of the minerals - what grade is it economical? Will depend a great deal on U price perhaps and what they can hedge it at in the BFS? Thoughts?





My thoughts are that Rossing has operated to similar depths for many years at lower uranium spot prices.  I think its easy to say its economical.  Productions costs in Namibia are cheaper than Australia.   The resource is only 25% of the initial target area and the rest of the anomoly is huge.  Im happy to sit tight on my BMN with this type of news.


----------



## Sean K (30 April 2007)

chris1983 said:


> My thoughts are that Rossing has operated to similar depths for many years at lower uranium spot prices.  I think its easy to say its economical.  Productions costs in Namibia are cheaper than Australia.   The resource is only 25% of the initial target area and the rest of the anomoly is huge.  Im happy to sit tight on my BMN with this type of news.



I agree this is looking pretty good if it is just 25% of the deposit, as long as it's near surface. This is just one of their anomalies and projects too, so looks good long term. Not sure if they can take this to production themselves though. Might still need a JV.


----------



## captjohn (30 April 2007)

kennas said:


> Actually, I take that back. I went and looked at the ann myself and it seems that the resource is 55m tn  at 219 ppm for 26m lbs U, and down to 9m tns at 372 ppm for 7.5m lbs contained U. Depends on the cut off. So, at the higher grade there's 7.5 m lbs. From here it will depend on what is economical to dig up. The question will be that with the type of deposit it is, and the depths of the minerals - what grade is it economical? Will depend a great deal on U price perhaps and what they can hedge it at in the BFS? Thoughts?




Kennas ..You are far too pessimistic & negative about all of this .... maybe that's why you're the moderator.

 Anyway as research over the W/E I googled all of Rio's Rossings info. & figures on the mines costs in Namibia etc.

 Believe it or not;  only 3 or 4 years ago Rio was about to close Rossing coz mine was uneconomical.
 U308 selling at $20 a pound & costing nearly that to get it out!!!! They told the Namibian Government & put everybody on alert !!
However,
They didn't quite close  as Rio  got hedged contracts @ $27 a pound !!! for years down the track!

 So , the moral of the story is that its  still now economical for Rio to run their  mine !...selling @$27 a pound

Wowie.... now  spot price is  4 times that @$113.

Do the math... production costs for bmn should be similar @under $20 a pound after the costs of building a mine are covered with more shares issued.

Bmn will make a small  fortune selling at $113 plus unhedged!!!& hopefully should declare a dividend within a few years!!...sure its 2 years to construction but at least we're getting in early with proper figures.

Thoughts on this please


----------



## Sean K (30 April 2007)

captjohn said:


> Kennas ..You are far too pessimistic & negative about all of this .... maybe that's why you're the moderator.
> 
> Wowie.... now  spot price is  4 times that @$113.
> 
> ...



I'm unattached to stocks and never get emotional about them. If you do, you will eventually lose money. I'm sorry my objectivity concerns you, and you interpret that as downramping.  

Your assessment that BMN will be selling uranium into the market at $113 + is quite an assumption. If they put that in the BFS they will be a laughing stock. 

Declare a dividend in a few years?


----------



## champ2003 (30 April 2007)

kennas said:


> I'm unattached to stocks and never get emotional about them. If you do, you will eventually lose money. I'm sorry my objectivity concerns you, and you interpret that as downramping.
> 
> Your assessment that BMN will be selling uranium into the market at $113 + is quite an assumption. If they put that in the BFS they will be a laughing stock.
> 
> Declare a dividend in a few years?




We also need to consider that the price of Uranium may be well over $200 in future years as well as who knows how high it will go??


----------



## nizar (30 April 2007)

I agree with kennas.
I was hoping the grade would be closer to 300ppm.
Oh well, lets see what the market thinks.


----------



## captjohn (30 April 2007)

kennas said:


> I'm unattached to stocks and never get emotional about them. If you do, you will eventually lose money. I'm sorry my objectivity concerns you, and you interpret that as downramping.
> 
> Your assessment that BMN will be selling uranium into the market at $113 + is quite an assumption. If they put that in the BFS they will be a laughing stock.
> 
> Declare a dividend in a few years?




Dear Sir, When us bannerman shareholders get a positive report we like to keep it that way......simple as that!!

Firstly you don't even read the  latest report before you're knocking it with negatives...then you reckon we're emotional when we're all actually positive about the report.

So ,kennas ,please tell me why bmn can't sell a pound of U308 for $113 today(if they had it) ...& just why not dividends in a few years ?? 
I'm beginning to wonder if you ever buy any shares in anything at all with the hard line attitude you press on us here!....so is that yacht (avatar) yours or a rental....mine in the caribbean was twice that size....
Nearly a year ago I bought 200,000 shares in bmn  so work out how much money I've lost by being 'emotional"....Hmmm!!.


----------



## Sean K (30 April 2007)

champ2003 said:


> We also need to consider that the price of Uranium may be well over $200 in future years as well as who knows how high it will go??



Yes, you are correct Champ. Could well possibly be up there. But will it be sustained at that price. Seems to me that there's a lot of U company's possibly comming on line between 2010 and 2015. Plus OD will be ramped up and Cigar Lake will be choofing (maybe). There are just so many factors to consider that making a long term forward estimate of U price is just near impossible. And once it is traded on the futures market, God knows what's going to happen. The only 'professional' assessment of the long term price was a UBS pluck of $40. Anyone seen any other 'analysts' predictions?


----------



## spooly74 (30 April 2007)

captjohn said:


> Dear Sir, When us bannerman shareholders get a positive report we like to keep it that way......simple as that!!
> 
> Firstly you don't even read the  latest report before you're knocking it with negatives...then you reckon we're emotional when we're all actually positive about the report.
> 
> ...





It`s good they have released their maiden JORC, but it is very low grade and pretty much known about for years.

How do they plan to mine?
How much do they plan to produce a year?
Why release the ann after the close?

It`s early days for BMN but you would need a high U price to continue into your BFS or else it could be too expensive to go to production.

MTN have similar tonnage for orebody but nearly 3 times the grade of BMN (so far)
MTN need to mill about 5000 t (orebody) a day to make their 1000t u308 a year production estimate.
Currently if  BMN go for 1000t u3o8 a year ...they  have to mill about 13000t of orebody a day which is very significant and implies huge production costs.
Thats all hypothetical ..BMN might want to produce 3000t a year, but there is going to be significant costs associated with production because of the grade.

More to come obviously but the market might not like it.


----------



## Sean K (30 April 2007)

nizar said:


> I agree with kennas.
> I was hoping the grade would be closer to 300ppm.
> Oh well, lets see what the market thinks.



Yep, I was also expecting a higher average grade after the previous drill results. Mid 300s actually. I think it will probably still go OK, but who knows with Mr Market, and especially BMN. Everytime they bring out confirmation of something, it gets sold off.  Buy the rumour sell the fact perhaps. It's going to end up a large resource that seems sure. If the higher grades are nearer to surface then it would be even better. I look forward to the geological model and where the higher grades are.


----------



## nizar (30 April 2007)

kennas said:


> And once it is traded on the futures market, God knows what's going to happen. The only 'professional' assessment of the long term price was a UBS pluck of $40. Anyone seen any other 'analysts' predictions?




Agree again.
The futures market thing i thought it would be a good thing, but now im thinking it wont be. Well one things for sure, its gonna be very volatile for all U stocks and uranium price for sure will not go up in a straight line the way it has been the last 3 years.
I reckon uranium price maybe blow off to 200-300 this year, and then settle to a long term price of about 80-ish, and thats when the new supply comes online post 2010. IMO.


----------



## nizar (30 April 2007)

kennas said:


> Buy the rumour sell the fact perhaps.




LOL?
Are you serious?
If that happens - its more like sell the rumour, sell the fact.
Its been seeing alot of red lately.


----------



## ta2693 (30 April 2007)

Judged by recent performance I think ECH have better future than this one. 
Declare : I do not have both.


----------



## chris1983 (30 April 2007)

Lets make this easy for you guys.  Heres some good comparisons for the guys on here who aren’t so good at fundamentals (Kennas).  Below are two companies listed on the TSX and their markets caps.  I have outlined their major projects which are also located in Namibia.

*LETS REMEMBER.*

The resource estimate is only predicted at *25%* of the initial target area and we have got a resource of 27 million pounds.

*27 MILLION POUNDS U3O8 INTERIM RESOURCE, GOANIKONTES URANIUM DEPOSIT, NAMIBIA*

_“Bannerman is pleased to announce an Interim Inferred Resource of 27M lbs (12,200t) U3O8 contained within 55Mt at a grade of 219ppm U3O8. The resource contains a higher grade core of 21Mt at 308 ppm U3O8. The resource has been estimated using the recently validated historical data in addition to data derived from the Company’s own drilling and has been estimated to an average depth of 80 metres over a 1.4 km strike length at Anomaly A (figure 1).

The resource represents only a portion of the known extents of the deposit to date. Mineralisationhas been shown to extend to at least 1.7 strike kilometres and to depths in excess of 300 vertical metres. Drilling will be ongoing for the rest of the year testing the vertical and strike extents of the deposit with the aim towards expanding the resource.”_

*27 x 4 = 108 million pounds* of uranium and this is still only a small portion of their anomaly A and then there are further anomalies on the license.  This deposit will be huge.  Im looking forward to Bannerman listing on the TSX.  There has already been news articles that brokerage firms are trying to get them to list there.  Don’t forget their highly prospective Botswana tenements also.  This is a company in the making.

*Uramin Market Cap*

_Quoted Market Value	1,832,949,803 CAD

1,832,949,803.00 CAD	=	1,984,164,662.81 AUD

*Almost 2 Billion Australia.*_

UraMin is focused on advancing its 100%-owned Trekkopje uranium project in Namibia to the completed feasibility study stage. Should such a feasibility study be sufficiently positive, initial mining and processing operations could be in place before the end of 2007.  See the attachment for details on Uramins major project.


*Forsys Metals Market Cap*

_Quoted Market Value	688,950,637 CAD

688,950,637.00 CAD	=	745,673,744.13 AUD

*750 Million Australian.*_

Forsys major project is the Valencia Deposit.  See the size and cut off grades of the Valencia deposit from the attachment.

Now its easy to see Bannerman has a lot further to run.  They have a higher cut off grade than both of these Canadian companies and they look as if they will sure up a resource larger than the both of them.  If you think its un-economical how come the Rossing deposit has operated at low uranium prices for many years and at similar grades.  Bannerman are set to take advantage of this uranium boom and operating costs are cheaper in Namibia and there are less loops to jump through in order to bring a mine online.  They will also be able to lock in contracts during times of rising uranium prices.  These are facts people.  Below is the fully Diluted Market cap or Bannerman Resources.

_BMN = 85,510,991
BMNO = 19,414,017

= 104,925,008 Shares on issue_

Fully diluted Cap at a price of 3.42 is

Just under *359 million dollars*.  Its cheap as atm.

Its up to you to see the potential and see how much further Bannerman could run.  But it will run a lot further.  That’s just my opinion.  All the best on your investments.


----------



## chris1983 (30 April 2007)

ta2693 said:


> Judged by recent performance I think ECH have better future than this one.
> Declare : I do not have both.




LOL I hold ECH..and I pretty much started that thread in relation to uranium..but lets stick to Bannerman.  Bannerman are in an excellent position atm.


----------



## nizar (30 April 2007)

Chris - i know you are a permabull but please answer this question honestly.

Were you expecting a higher grade than 210ppm?


----------



## chris1983 (30 April 2007)

nizar said:


> Chris - i know you are a permabull but please answer this question honestly.
> 
> Were you expecting a higher grade than 210ppm?




I expected 200-300ppm

Mate read the last post..I only post facts and I know for a fact Bannerman will run further..maybe not tomorrow because a lot of investors dont know how to see true value..but they will run.


----------



## nizar (30 April 2007)

chris1983 said:


> I know* for a fact *Bannerman will run further..maybe not tomorrow because a lot of investors dont know how to see true value..but they will run.




Relax brother. You do NOT know for a fact.
And you do NOT know the future.

Dont let your success blind you.
A popular cliche comes to mind - dont confuse genius with bullmarket,


----------



## spooly74 (30 April 2007)

chris1983 said:


> Lets make this easy for you guys.  Heres some good comparisons for the guys on here who aren’t so good at fundamentals (Kennas).  Below are two companies listed on the TSX and their markets caps.  I have outlined their major projects which are also located in Namibia.
> 
> *LETS REMEMBER.*
> 
> ...




Good post Chris and for sure the numbers are there but if you are going to talk about locking in contracts for the price of U then you need to be aware of production costs.

Lets say the total resource does indeed come in at 27 x 4 = 108 mill pounds.

Thats 220 million tonnes of orebody to dig up and mill to get 108 mill pounds of yellowcake. 

That will have a significant impact on production costs.

Not saying there is no profit but it`s worth keeping in mind ....we are getting into the business end of uranium season.


----------



## chris1983 (30 April 2007)

Niz..I only go off comparisons..I mean..why dont you comment on my post in relation to the comparisons with Forsys and Uramin.  Show me the negatives and you will be able to change my views.


----------



## chris1983 (30 April 2007)

spooly74 said:


> Good post Chris and for sure the numbers are there but if you are going to talk about locking in contracts for the price of U then you need to be aware of production costs.
> 
> Lets say the total resource does indeed come in at 27 x 4 = 108 mill pounds.
> 
> ...





How many more Nuclear reactors coming online In china and India?  How long will it take to bring uranium mines online to stem this demand.  Its going to take a long time.  Nuclear is the new energy.  This boom wont stop for some time.  Rossing was operating with uranium prices under $30 a pound.  Even if production costs were $30 a pound there is lots of money to be made.  Its right in front of you guys.


----------



## Sean K (30 April 2007)

chris1983 said:


> Lets make this easy for you guys.  Heres some good comparisons for the guys on here who aren’t so good at fundamentals (Kennas). .



Thanks Chris, great post. You are much better at fundamental analysis than me. Cheers.  

In regard to grades Nizar, I was expecting it to be between 300-500 ppm, becasue they had stated they were 'targeting 50-200M t at grades similar to Rossing'. So, I was expecting 300-500 ppm. I'm sure many others were and perhaps they won't be completely happy with the results due to this. We'll find out tomorrow.

Overall, looks like it'll be a mine in a few years IMO. All the best to BMN holders.


----------



## spooly74 (30 April 2007)

chris1983 said:


> How many more Nuclear reactors coming online in china and India?  How long will it take to bring uranium mines online to stem this demand.  Its going to take a long time.  Nuclear is the new energy.  This boom wont stop.




What has that got to do with my point on production costs?

Ever heard of Cigar Lake and Olympic Dam ...important not to forget em.


----------



## chris1983 (30 April 2007)

spooly74 said:


> What has that got to do with my point on production costs?
> 
> Ever heard of Cigar Lake and Olympic Dam ...important not to forget em.




It has plenty to do with your point on production costs.  Rossing and Goanikontes are both very similar deposits.  Production costs will be pretty much the same


----------



## captjohn (30 April 2007)

kennas said:


> Thanks Chris, great post. You are much better at fundamental analysis than me. Cheers.
> 
> In regard to grades Nizar, I was expecting it to be between 300-500 ppm, becasue they had stated they were 'targeting 50-200M t at grades similar to Rossing'. So, I was expecting 300-500 ppm. I'm sure many others were and perhaps they won't be completely happy with the results due to this. We'll find out tomorrow.
> 
> Overall, looks like it'll be a mine in a few years IMO. All the best to BMN holders.




Thanx  for your support kennas,

 & great figure work chris,I'll read it again tomorrow.

...its been an exciting debate this arvo/evening....& lets see what the 'analysts' think about all this tomorrow.....hopefully a trading halt & sp up to the top boll. band.by close


----------



## spooly74 (30 April 2007)

chris1983 said:


> It has plenty to do with your point on production costs.  Rossing and Goanikontes are both very similar deposits.  Production costs will be pretty much the same




How are Rossing and Goanikontes pretty much the same?

Does Rossing have 27 million pounds of Uranium too?

Every deposit is different.


----------



## chris1983 (30 April 2007)

spooly74 said:


> How are Rossing and Goanikontes pretty much the same?
> 
> Does Rossing have 27 million pounds of Uranium too?
> 
> Every deposit is different.




Um..you should do some research.

They are both at similar depths and similar grades.  Rossing is slightly higher grade but this wont change the production costs too much.  You just have to know that Rossing operated with uranium prices of under $30 a pound and their production costs will be similar to Bannermans.  Same ore type...same depth...similar grades.

Whats the price of uranium?  $113 a pound.  Bannerman is extremely economical.


----------



## captjohn (30 April 2007)

Spooly 74,
Google search.........Rio's Rossing Namibia...you'll find pages & pages of top info on their operation for many years....& then read bmn carmichaels reports from website & you to will be an expert in no time  on the similarities...trust me ..Arghhhh!


----------



## Brujo (1 May 2007)

nizar said:


> Relax brother. You do NOT know for a fact.
> And you do NOT know the future.
> 
> Dont let your success blind you.
> A popular cliche comes to mind - *dont confuse genius with bullmarket*




Nizar, that is about the best quote I've heard in a long time!!  (Can't be too much of a cliche - I'd never heard it before!!).

I'm a believer in the company, I'm making gains on the market at the moment as is just about every person in the market, but I try never to start thinking I'm a genius to be doing so!!


----------



## chris1983 (1 May 2007)

That is referred to me Brujo.  I dont think Im a genius.  I do know how to pick stocks though.  Welldone Im glad your making money.  I never bragged about making money or how good I was.  I'm just confident on all my picks.  I dont go picking stock after stock..I only pick the selected few and those selected few have all performed well.  My last pick being ECH.  I choose stocks based off Fundamental analysis.  I pick and choose my stocks very carefully and I dont have many failures.  BMN I picked from the beginning..bag me out all you want.  I dont really care.


----------



## Brujo (1 May 2007)

chris1983 said:


> That is referred to me Brujo.  I dont think Im a genius.  I do know how to pick stocks though.  Welldone Im glad your making money.  I never bragged about making money or how good I was.  I'm just confident on all my picks.  I dont go picking stock after stock..I only pick the selected few and those selected few have all performed well.  My last pick being ECH.  I choose stocks based off Fundamental analysis.  I pick and choose my stocks very carefully and I dont have many failures.  BMN I picked from the beginning..bag me out all you want.  I dont really care.




Sorry Chris, that was in no way intended to bag _you_.  It was a general observation about the quote, which just really tickled my fancy.  Part of the interest in following ASF is picking the wheat from the chaff, and the comments and research you come up with are second to none.  You are one investor/trader who deserves the returns you are making.  What's more, you have enough confidence in your research and judgement to tell the world your opinion and to stick to it.

And for that, you deserve genuine applause.

No, I was referring to that comment as summarising exactly the attitude_ I _try to keep in relation to myself.

Sincerely, not bagging _you_ at all!!!


----------



## chris1983 (1 May 2007)

I prolli over reacted.  Had a few people having a go at me on other forums today.  Lets just see what BMN do tomorrow.  Trusting BMN they could go down.  I really dont think so though.  I dont know how the market will react.  Should be interesting.


----------



## jj0007 (1 May 2007)

Anybody got their hands on the Forsys feasibility study at valencia?  Lower grade stuff than BMN so it will be a VERY good indication on how economical Namibian uranium is at the current price.  I can't seem to find it on their website.  It stated that the study should be completed Q1 this year.


----------



## chris1983 (1 May 2007)

jj0007 said:


> Anybody got their hands on the Forsys feasibility study at valencia?  Lower grade stuff than BMN so it will be a VERY good indication on how economical Namibian uranium is at the current price.  I can't seem to find it on their website.  It stated that the study should be completed Q1 this year.




http://www.forsysmetals.com/s/Home.asp

It should be on their site..I'll have a look later too.  I'm just chatting atm


----------



## jj0007 (1 May 2007)

What the....   Just checked comsec and announcement came out last night at 5.49pm!!   

Interim resource of 27m lb


----------



## Louieh (1 May 2007)

jj0007 said:


> What the....   Just checked comsec and announcement came out last night at 5.49pm!!
> 
> Interim resource of 27m lb




That is what everyone has been talking about in the last 30 posts of this thread jj0007!  

Looking forward to the market opening... could go either way I think today.


----------



## Sean K (1 May 2007)

Well, looks like it might open up a little, will be interesting to see it's strength through the day.



chris1983 said:


> I expected 200 -300ppm
> 
> Mate read the last post..I only post facts and I know for a fact Bannerman will run further..maybe not tomorrow because a lot of investors dont know how to see true value..but they will run.



Actually Chris, you have never stated 200-300 ppm. You used 300ppm for your estimations, which you should have. In fact, BMN and Carmichael (just using BMN data really) were using a grade of 320-350 ppm to get their initial resource target of 25m lbs. 

So, you were being conservative with 300 ppm, but you never had anything lower than that. 

With a 300ppm cut off, the initial resource is 7,500 lbs. 

Still, as I have said, looks to be economical. The tonnage should be enough for this to be a mine eventually.


----------



## chris1983 (1 May 2007)

kennas said:


> Well, looks like it might open up a little, will be interesting to see it's strength through the day.
> 
> Actually Chris, you have never stated 200-300 ppm. You used 300ppm for your estimations, which you should have. In fact, BMN and Carmichael (just using BMN data really) were using a grade of 320-350 ppm to get their initial resource target of 25m lbs.
> 
> ...




I never made my estimations fromcut-off grades kennas.  I done it off overall average grade.  219ppm..300ppm big deal.  There was also a large portion of their resource above 300ppm.  Why do you continually question me?  hmm?  your also treating me as if I'm some expert.  This is a forum and I offer my posts for free.  Okay I missed the average grade by 80ppm..sue me for it.


----------



## the barry (1 May 2007)

At least today bannermans has bucked the usual trend so far after announcements and has gone up. Will be interesting to see what happens now that all the big buy orders has gone through.


----------



## chris1983 (1 May 2007)

the barry said:


> At least today bannermans has bucked the usual trend so far after announcements and has gone up. Will be interesting to see what happens now that all the big buy orders has gone through.




Lots of time left in the day.   Bannerman wont let us down..come on Bannerman..do your usual trend. haha

In the end I'm a long termer so it doesn't bother me.  They just need to continue about their business now and progress things as fast as they can.


----------



## Sean K (1 May 2007)

chris1983 said:


> Why do you continually question me?



I question everyone Chris, you should have picked up on that by now.   I even question myself! It keeps the forum honest. I'm sure most people appreciate the more detailed analysis that eventuates when peoples 'opinions' are disected on the forum. Everyone is open to question!


----------



## JWBH01 (1 May 2007)

What's with the lside in the SP today with BMN and other U stocks like MTN?
Surely it can't keep going down, otherwise I'm going to have to get more money to top up.


----------



## captjohn (1 May 2007)

JWBH01 said:


> What's with the lside in the SP today with BMN and other U stocks like MTN?
> Surely it can't keep going down, otherwise I'm going to have to get more money to top up.




All ords has been below its macd line for a week...keeping downward pressure....& last nite the dow dropped so market only needed this to take'em on down....look at the charts....27 million lbs or not  the bmn sp has to follow suit..its all part of the game


----------



## Go Nuke (1 May 2007)

Oh Im just thrilled to see how far the sp has crashed this arvo!

I thought to myself last night..."Surely it will go up with this sort of ann"....so I backed my judgement.
Well..... ...aren't I paying for it now! 
That fall has cost me by picking up some more last night. Definitely shaken my confidence that I thought I might know what i was doing....lol

BUT.....I know its BMN...and it always seems to take a dive after an ann....so fingers crossed it will at least get slightly above $3.47 over the next 2 weeks, or I just incurred a debt I dont really need
So it was the DOW Jones fault eh?

Not happy Jan.:axt:


----------



## chris1983 (1 May 2007)

Dunworry gonuke.  I also expected a better day.  My views wont change in the longterm.  BMN in my eyes are still very cheap.  I would much rather be holding Bannerman than some other grassroot explorers with markets caps through the roof.  Some of them only have rock chip samples.

Bannerman has the real deal.  Only thing that could hurt Bannerman is a fall in the uranium spot price.  Lets see how the spot price continues because if it holds at these levels it wont have any issues with the deposit.  The comparisons have been made allready with Rossing and other Canadian explorers.  It will be a simple step by step process to simply bring the deposit into production.  I really think Bannerman should list on the TSX though.  I hope they go through with that.


----------



## Sean K (1 May 2007)

FWIW I see a small H&S about to occur which would take BMN down the distance between the top of the head and the neck line. Hopefully the neckline, which should be support, holds and you guys get a bounce off these levels. Unfortunately, the indicators aren't very positive.


----------



## nsitt (1 May 2007)

Go Nuke said:


> Oh Im just thrilled to see how far the sp has crashed this arvo!
> 
> I thought to myself last night..."Surely it will go up with this sort of ann"....so I backed my judgement.
> Well..... ...aren't I paying for it now!
> ...




Hope you learned a lesson from that. Don't go into a new trading day with pre-conceived ideas. 9 times out of 10 it'll bite you in the butt. Watch the price action to get your signals cause the price action and volume is king.


----------



## Kimosabi (1 May 2007)

Could Uranium stocks have been a case of Bought on Rumour, Sold on Fact?


----------



## nsitt (1 May 2007)

Well last month was a consolidation month imho. Performance consolidated and lost a little strength but not too bad. Comparing 3/07 to 4/07 the  BMN has weathered the storm pretty well.

On a monthly cycle we have support at S1 move up just below last months pivot at 3.07. The monthly pivot is at 3.507. Second level of support is at 2.727 and then down to 2.293 for S3. 

Resistance is at 3.853 then at 4.287 and R3 at 4.633. On target for some of the estimated SP quoted in previous posts. We can therefore conclude that April was a great consolidation month which stabilised the growth and set a more solid base for future growth.

On a daily scale: the daily pivot is 3.333 with R1 at 3.467 and S1 at 3.067.
I think we might push up to test the 3.33 level tomorrow. Should we break through then i have no doubt that we'll climb back into the 40's again.

I don't think the price will dip down much further but there is a heavy support cluster at the 3.06-07 mark should that happen.

Best of luck and remember my oppinion only!


----------



## Rafa (1 May 2007)

good chart kennas...
not sure about the h&s, but to me, BMN can still fall to the uptrend line and hold there...

it not the first time BMN has fallen back to the support line, and it won't be the last...

$3 is support for me...


----------



## Sean K (1 May 2007)

Rafa said:


> not sure about the h&s, but to me, BMN can still fall to the uptrend line and hold there...
> 
> it not the first time BMN has fallen back to the support line, and it won't be the last...
> 
> $3 is support for me...



 Yes, it's a little tenous.   I've seen better examples. Agree with $3.00, which coincides with the high in Jan, so that might be enough to hold it up. Having said that, all bets are off if the DOW crumbles.....


----------



## Go Nuke (1 May 2007)

nsitt said:


> Hope you learned a lesson from that. Don't go into a new trading day with pre-conceived ideas. 9 times out of 10 it'll bite you in the butt. Watch the price action to get your signals cause the price action and volume is king.




Yes I have learnt my lesson
I dont have the luxury of a computer where i work, so checking the sp is out of the question for me between 6am and 3pm.


----------



## professor_frink (1 May 2007)

Rafa said:


> good chart kennas...
> not sure about the h&s, but to me, BMN can still fall to the uptrend line and hold there...
> 
> it not the first time BMN has fallen back to the support line, and it won't be the last...
> ...




Howdy Rafa long time no type

I'd be watching out for $3 too if I was looking for an long entry(or a short entry on a breakdown if I could short it) 

Previous highs around that area, and a magic voodoo line is going to be sitting there for a little while too(voodoo TA code stolen from WayneL. Cheers Wayne)


----------



## Rafa (1 May 2007)

Hows things Prof?
Agreed... with you and Kennas, i won't be panicking until $3 is well and truly smashed!


----------



## professor_frink (1 May 2007)

Rafa said:


> Hows things Prof?
> Agreed... with you and Kennas, i won't be panicking until $3 is well and truly smashed!




things are good rafa, good. Hopefully will be better tomorrow morning after your namesake brings the reds home in dramatic fashion once again

So far on my magic voodoo chart, the solid yellow line trailing below the price action has been tested 3 times since BMN began it's run without failing. And it will be sitting in the exact spot it is now until the end of the financial year. For your sake I hope it holds for a 4th time


----------



## nsitt (1 May 2007)

Before looking to $3 as a psychological barrier, I would be curious to see how well the 3.07-3.09 cluster holds up. If it breaks through there on heavy volume then $3 will be a good test to see how confident the punters are.


----------



## captjohn (1 May 2007)

Well thru all this doom & gloom......*the Roadshow Presentation has been announced as a report!!...*
It reads really well....very precise & showing every aspect of their work so far...

I agree that sp could drop to $3 & below,if this turns into a full blown correction..... so what .....you will only 'lose money' if you panic & sell your shares ...Yes ??


Maybe it'll go on for a month or 6 weeks & then take off again ....& the companies with the 'goodies' will get bought right up again.....


----------



## chris1983 (1 May 2007)

A lot of people are against Bannerman for the fact their grade is low.  Doesn't bother me.  I have held through bigger falls than this.  Reading the charts is very good...but based off reading the fundamentals I feel confident this will head back up.  All the best for those invested in BMN.


----------



## Rafa (1 May 2007)

professor_frink said:


> things are good rafa, good. Hopefully will be better tomorrow morning after your namesake brings the reds home in dramatic fashion once again




Yes Professor, BMN and $3 is the absolute last thing on my mind... I am so nervous, its ridiculous...

Why can't it be 4am already...
Far out, imagine being a player!

brrr....

YNWA


----------



## chris1983 (1 May 2007)

captjohn said:


> Well thru all this doom & gloom......*the Roadshow Presentation has been announced as a report!!...*
> It reads really well....very precise & showing every aspect of their work so far...
> 
> I agree that sp could drop to $3 & below,if this turns into a full blown correction..... so what .....you will only 'lose money' if you panic & sell your shares ...Yes ??
> ...




Presentation is out.  I would advise all those concerned to have a look at page 7.  You will see how small the interim resource is in relation to the entire Goanikontes Anomoly A.  They actually have a lot of historic drilling results outside of their initial target area.  They say the target resource will be to a depth of 230 meters so we can pretty much 3 fold their interim resource to get a rough idea of what they have.  Thats 81 million pounds to a depth of 230 meters.  In some of their recent drilling results the mineralisation extends below this to depths of 300 meters +

I think its amazing they look likely to produce a 81 million pound resource off such a small area of their total anomolies.  The anomolies on the license are huge.  They show the area for the new Rossing discovery and its actually a part of their anomoly to the North that hasnt been tested yet.  There are lots of positives for Bannerman.  I will continue to hold and hold firm.


----------



## jj0007 (1 May 2007)

Picture tells 1000 words doesn't it?  Can't explain it any better than that.

Noticed they slipped a little note in there regarding BFS.  Targetting 2008 which is about what I've anticipated......if all transitions well we could have a mine by late 2009 - early 2010.

I'm holding and enjoying watching the story unfold.


----------



## bliimp (2 May 2007)

chris1983 said:


> A lot of people are against Bannerman for the fact their grade is low  ..............





Chris, I don't think that Mr. Borshoff (of Paladin fame) is one of those people. 

To quote hime from an article in today's SMH " What we need is huge, low-grade deposits. All we are really doing at the moment is picking that low-hanging fruit."

I mean, I would be taking note from someone of his calibre, and not stress too much from a lot of the negative banter lately in this forum about Bannerman's "low grade" resource.

And Chris, as you have also stated in your most recent post "I think its amazing they look likely to produce a 81 million pound resource off such a small area of their total anomolies. The anomolies on the license are huge. They show the area for the new Rossing discovery and its actually a part of their anomoly to the North that hasnt been tested yet".

So really, I would put my money on your analysis .... and Mr Borshoff's.


----------



## monaliza (2 May 2007)

SMH article is realy very postive about BMN ,
_[Uranium hopefuls with deposits overseas, such as Bannerman Resources, face different issues. Bannerman yesterday released an interim inferred resource of 12,200 tonnes at its low-grade project near Rio Tinto's Rossing mine in Namibia. It expects to release a much larger final resource statement this year and could be in production by late 2010.

But it will face challenges gaining access to water, since there is none available for new operations in Namibia. Mr Batten said the government was considering the construction of a desalination plant.

Paladin's Mr Borshoff said uranium hopefuls were "raring to go" but warned it wouldn't be easy.

"The number of years it can take to get a project going can really be quite staggering," he said. "What we need is huge, low-grade deposits. All we are really doing at the moment is picking that low-hanging fruit."]the link is_
http://www.smh.com.au/news/business/uranium-now-hottest-in-resources/2007/05/01/1177788142735.html


----------



## Sean K (2 May 2007)

monaliza said:


> SMH article.............
> But it will face challenges gaining access to water, since there is none available for new operations in Namibia. Mr Batten said the government was considering the construction of a desalination plant.
> 
> Paladin's Mr Borshoff said uranium hopefuls were "raring to go" but warned it wouldn't be easy.
> ...



Any idea what the current miners are doing for water at LH, Rossing and Valencia. Can't be that much on an issue if they are operating. But if BMN require a desalination plant that could possibly be a hurdle. We struggle to get them made in Australia. I suppose this will come out in the PFS/BFS? Any Namibia U experts care to comment here? 

Perhaps a solution is a JV with RIO or PDN and they can take off the material for processing at their already operating facilities, presumable with water? They're not too far away. They're both 40-60 ks away. Maybe a rail link? Maybe not. The coast looks closer.

Good that BMN is getting some exposure in the media.


----------



## Sean K (2 May 2007)

kennas said:


> Any idea what the current miners are doing for water at LH, Rossing and Valencia.




Found this on Rossing, so I assume it will be a similar plan for BMN:



			
				Rossing web site said:
			
		

> *MANAGING ERONGO’S WATER TOGETHER*
> 
> The Coastal Bulk Water Users Forum, established in 1998, continued its quarterly meetings to share information about long-term bulk water supply issues. Members of the Forum are the Town Councils of Arandis, Henties Bay, Swakopmund and Walvis Bay, as well as representatives from the Namibian Ports Authority (NamPort), Rössing Uranium, Langer Heinrich Uranium, NamWater, and the Ministry of Agriculture, Water and Forestry’s Department of Water Affairs.
> 
> ...



This is old information but the latest I could find


----------



## chris1983 (2 May 2007)

This is good news.  Bannerman is progressing very quickly.  Glad to see they are allready talking about water and desalination plants.  All other miners in Namibia will go through this process.  Its happened before.  The issues on water will always be raised.

*URAMIN*

_Desalination plant for Trekkopje uranium mine project required
Namwater cannot supply sufficient amounts of water for the Trekkopje uranium mine project. Therefore, Uramin plans to build a 15 million cubic meter per year desalination plant near Wlotzkasbaken at the coast. (Allgemeine Zeitung April 5, 2007) 

Trekkopje project update
Trekkopje, estimated to cost $500 million to build, is due to advance to trial mining in 2007 and to launch commercial production in late 2008. Work began in March 2007 on a 60000-ton heap leach pilot project.  Production is expected to start at 4.2-million pounds (1615 t U) in 2009 and rise to full production of 8.4-million pounds (3231 t U) a year by 2011. (Business Day March 30, 2007)_

Uramin have a market cap of 2 billion.  I'm liking the similarities.


----------



## chris1983 (2 May 2007)

ohh ohh...here come the panickers.  

No need to panic..just let this ride out.  I'll consider topping up if they fall under $3


----------



## chris1983 (2 May 2007)

I find it funny that Bannerman which is likely to have a 100+ million pound resource (to depths of 300 meters +) that is better in comparability to Uranium (Canadian listed stock) continues to fall.  Its actually good because it fixes all these technical indicators etc like MACD etc etc..but sheesh.

Just my opinion.  I'm happy to hold.  I hope none of you are sweating in your boots over this.


----------



## Sean K (2 May 2007)

nsitt said:


> Before looking to $3 as a psychological barrier, I would be curious to see how well the 3.07-3.09 cluster holds up. If it breaks through there on heavy volume then $3 will be a good test to see how confident the punters are.



nsitt, how do you get the 'cluster' at 3.07-3.09? Do you mean the minor previous resistance, now support, in the blue circle?


----------



## Sean K (2 May 2007)

chris1983 said:


> ohh ohh...here come the panickers.
> 
> No need to panic..just let this ride out.  I'll consider topping up if they fall under $3



Chris, I agree that if you are a long term 'investor' then there's probably no need to worry here. Short term traders just work differently. If your plan is to conserve your capital for other trades, then traders will sell out of something that has failed and/or a stock reaches a pre determined exit point. Nothing sinister about the stock itself. It's just a chart to a lot of people, who don't give a rats what it does. Different strokes...


----------



## Moneybags (2 May 2007)

chris1983 said:


> ohh ohh...here come the panickers.
> 
> No need to panic..just let this ride out.  I'll consider topping up if they fall under $3




Chris,

Not pancking just yet, more like perplexed. I sure have a knack for picking the top (only when I buy of course .......doh). Anyway, I'm hapy with the ann and everything looks good apart from the sp.

MB


----------



## professor_frink (2 May 2007)

kennas said:


> nsitt, how do you get the 'cluster' at 3.07-3.09? Do you mean the minor previous resistance, now support, in the blue circle?




nsitt would be referring to pivot points here kennas. A cluster is pivots from different timeframes clustered together at a similar price.



Rafa said:


> Yes Professor, BMN and $3 is the absolute last thing on my mind... I am so nervous, its ridiculous...
> 
> Why can't it be 4am already...
> Far out, imagine being a player!
> ...




As expected rafa, nothing but the most dramatic victory for your namesake this morning. Once it went to penalties, it was pretty well all over- Reina would have to be the most freakishly(is that a word???) good penalty saver on the planet. I have no idea how he does it!
Bring on Man U/milan


----------



## nsitt (2 May 2007)

Spot on Professor 

The cluster there is from a combination of the last 2 months pivot points as well as the daily pivots I calculated recently. Its an area to watch.

Edit: Go Milan!


----------



## Rafa (2 May 2007)

professor_frink said:


> As expected rafa, nothing but the most dramatic victory for your namesake this morning. Once it went to penalties, it was pretty well all over- Reina would have to be the most freakishly(is that a word???) good penalty saver on the planet. I have no idea how he does it!
> Bring on Man U/milan




Would love Milan in the final... even tho there would be nothing better than beating Man U in a European Cup Final, i am not sure if this is a risk i am ready to take yet.


----------



## jj0007 (2 May 2007)

chris1983 said:


> I find it funny that Bannerman which is likely to have a 100+ million pound resource (to depths of 300 meters +) that is better in comparability to Uranium (Canadian listed stock) continues to fall.  Its actually good because it fixes all these technical indicators etc like MACD etc etc..but sheesh.
> 
> Just my opinion.  I'm happy to hold.  I hope none of you are sweating in your boots over this.




I am more comfortable and sleeping better now than I was a couple of weeks ago when SP was near $4.  The confirmation of the historical holes + interim JORC resource are a major milestone.

BFS in mid-late 2008...  and then we have a real shot at being a producer in 2010.  Only 3 1/2 years away.


----------



## Pommiegranite (2 May 2007)

Rafa said:


> Would love Milan in the final... even tho there would be nothing better than beating Man U in a European Cup Final, i am not sure if this is a risk i am ready to take yet.




Although losing to the scum in the final would be unbearable. I will be supporting Milan tomorrow...unless I get hold of a crystal ball and see LFC beating Milan in the final.

Bye Bye Mourinhio
Bye Bye Mourinhio
La la la lah lah
La la la lah lah

 

Let hope BMN are as succesful as LFC in 2007.


----------



## captjohn (2 May 2007)

Rafa said:


> Would love Milan in the final... even tho there would be nothing better than beating Man U in a European Cup Final, i am not sure if this is a risk i am ready to take yet.




Hey Professor, 
I thought you were a 'moderator'...yet your rambling on about  soccer players now!!

I as use boll.bands  as extremes levels of sp volatility...& it works well mostly...anyway  hope these pivots are working for ya.....


----------



## captjohn (2 May 2007)

Pommiegranite said:


> Although losing to the scum in the final would be unbearable. I will be supporting Milan tomorrow...unless I get hold of a crystal ball and see LFC beating Milan in the final.
> 
> Bye Bye Mourinhio
> Bye Bye Mourinhio
> ...




You to Pomiegranite...get back on topic..
 kennas ..I want a job as a moderator'to keep these guys in line haha


----------



## professor_frink (2 May 2007)

captjohn said:


> Hey Professor,
> I thought you were a 'moderator'...yet your rambling on about  soccer players now!!
> 
> I as use boll.bands  as extremes levels of sp volatility...& it works well mostly...anyway  hope these pivots are working for ya.....




Sorry capt.

I'll start a general chat thread in just a second if anyone wants to talk football

The pivots are all good capt, but stick with the bollies if it's what you know. Don't mind the odd band around an average of some sorts. It can work a treat when used properly


----------



## nsitt (2 May 2007)

That support has held up exactly in that cluster. Low of 3.06 rebounded straight off it. Don't doubt the power of pivots!


----------



## Go Nuke (2 May 2007)

Well im pretty disappointed really.
BMN must have picked a bad time to release their announcements. Its a sea of Red out there!

So many positive points in their ann...yet BMN crashes to a low of $3.06! 

Guess the only positive is that it corrects the MACD etc.

Like you MoneyBags, Im paying for my crap timing in increasing my stake (which was meant to be short term)
Silly me for thinking BMN's ann would be a positive thing for the sp. 

I might just ignore BMN for 2 weeks


----------



## Moneybags (2 May 2007)

Go Nuke said:


> Well im pretty disappointed really.
> BMN must have picked a bad time to release their announcements. Its a sea of Red out there.
> 
> Like you MoneyBags, Im paying for my crap timing in increasing my stake (which was meant to be short term)
> ...





I hear ya Go Nuke and I know exactly how ya feel. I don't understand why people wish for announcements if this is what happens after them 

I am feeling a little better this arvo though after seeing some of my other stocks pick up. Chin up mate I'm sure it's all good really.

MB


----------



## happytown (2 May 2007)

as at their most recent appendix 3B notice, yesterday, there were still some 19 million 6.67c options due to expire 31st of this month, which no doubt will all be taken up

this could provide a lid of sorts on the sp, in the short term, if option holders look to take profits

some profit taking from this may also explain the sp action of the last few days 

they may also hold on for potentially greater profits

all of the above may also be entirely irrelevant in explaining recent sp action

but one thing is certain,

shares in bmn at 6.67c ... oh the humanity!

cheers


----------



## captjohn (2 May 2007)

Guys,

I hear where ya comin' from;

 all I can say is try to be positive for the bigger picture that is forming ...

That is,  a large resource is CONFIRMED now  with heaps  more to come  during 6 months next year etc..

Very soon the ,brokers & analysts will become aware of this thru the 'roadshow'!.... plus Namibian juniors can  get a mine up quicker than oz  similars...despite a maybe water problem...
Rio' has announced Rossing will be nearly doubled in size over next few years to meet demand..its a story on fnarena ...(well worth subscribing too for research)
Then that article in SMH about Pdn's reckons high tonnage lower grades is the best way to go !!

This will slowly sink in &  have the bigger end of town buying in ......
Remember all these other little juniors (ero,ech,wmt wme ,ern ).......dont really have a confirmed deposit...they'll jump up 15% a day but  can also drop 20% in a heartbeat..
Try to ride it out with style.....Arghhhh!!


----------



## gs07 (2 May 2007)

anyone seen this article in the Australian?

Uranium glow warms Namibian campfire yarn
http://www.theaustralian.news.com.au/story/0,20867,21659176-5005200,00.html

all about bannerman


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## chris1983 (2 May 2007)

gs07 said:


> anyone seen this article in the Australian?
> 
> Uranium glow warms Namibian campfire yarn
> http://www.theaustralian.news.com.au/story/0,20867,21659176-5005200,00.html
> ...




That write-up is excellent.  Thankyou for your post.  I like this part

_"If you listen to the market watchers, no one in Australia has a full grip on the enormity of the asset and is undervaluing Bannerman shares. 

It is understood that some of the Bannerman board will soon head to Canada to investigate a possible listing on the Toronto Stock Exchange which would see greater liquidity to the stock."_


----------



## nizar (2 May 2007)

Pommiegranite said:


> Although losing to the scum in the final would be unbearable. I will be supporting Milan tomorrow...unless I get hold of a crystal ball and see LFC beating Milan in the final.
> 
> Bye Bye Mourinhio
> Bye Bye Mourinhio
> ...




If you take the analogy of premiership rankings and total return out of all ASX stocks for 2007, i would expect BMN to do alot better than liverpools current 5th! LOL

Ah Morinho, i wonder what is the excuse of the special one this time?


----------



## jj0007 (2 May 2007)

Great article.   My favourite bits below. It looks like the scoping study will replace the PFS as I originally thought.  Good to see the writer concur with my 2010 expectation.   


"project cap-ex could come in somewhere around the $US150 million figure and it is believed that Bannerman want to push ahead into production to bet the expected rush in five years time. 

That would mean skipping the pre-feasibility stage and jumping straight to Bankable Feasibility Study status, something which Bannerman will probably have to raise a few bucks for. 

Bannerman wants to be in production by 2010 in what would be one of the fastest turnarounds from explorer to uranium producer for an Australian company."


----------



## Moneybags (2 May 2007)

captjohn said:


> Guys,
> 
> I hear where ya comin' from;
> 
> ...




Cap'n,

agree totally with what you have said.......it all looks good for the future......just not used to seing share price drop so much after such a good ann.....but as has been alluded to previously in this thread that seems to be the way with Bannerman. I will get used to it eventually and am still holding this time.

gso7,

Thanks for posting article and welcome also.

MB


----------



## captjohn (2 May 2007)

jj0007 said:


> Great article.   My favourite bits below. It looks like the scoping study will replace the PFS as I originally thought.  Good to see the writer concur with my 2010 expectation.
> 
> 
> "project cap-ex could come in somewhere around the $US150 million figure and it is believed that Bannerman want to push ahead into production to bet the expected rush in five years time.
> ...




Wowie...just read the article ...& it's all starting...this is top shelf stuff..every paper around oz. is starting to pick up on this...bmn is  hot favorite for next mine??

As I said earlier I believe in bannerman  from last june/july .....& they are doing everything full on to create a mine now  within 3 years!!

 All these articles are spreading the word......& I am thankful to be a part of it over the next 2 or 3 years...
The sp will not jump up 10-20% a day but who cares ...this is the start of creating an  'Uranium mine'....

I sincerely hope other bmn holders will seriously consider come across for the AGM ..end of OCT... to perth.(you can  all stay with chris haha....even kennas ;..if they don't throw you out the plane first!!)  to hear whats going on  etc...We can then talk to management about what they're planning & have a say in it !!

Maybe next year a few of us could go to Namibia to check it out & drive a few bulldozers  haha...
Anyway 
I'm trying to brighten you all up from the low sp lately....but remember its allowing in a new bunch of investors to get in  at a 'cheap price '  ..!!

Maybe...by years end ...Hmmmm...6...7..or 8...??

Where's halba & minnning to work all this out??


----------



## Moneybags (2 May 2007)

captjohn said:


> Wowie...just read the article ...& it's all starting...this is top shelf stuff..every paper around oz. is starting to pick up on this...bmn is  hot favorite for next mine??
> 
> As I said earlier I believe in bannerman  from last june/july .....& they are doing everything full on to create a mine now  within 3 years!!
> 
> ...




Cap'n,

Your enthusiasm is certainly rubbing off, keep up the good work.

I think Halba has been banned ??
& mmmmining not 2 sure but know he has been posting under danube @ HC. I miss both their informed posts. 

MB


----------



## captjohn (2 May 2007)

Thanx money bags,

Pleased to announce......FAT PROPHETS....has also written a top article  tonite...to all their members(& they have heaps worldwide).....let me know if ya want a copy?


----------



## JWBH01 (2 May 2007)

captjohn said:


> Thanx money bags,
> 
> Pleased to announce......FAT PROPHETS....has also written a top article  tonite...to all their members(& they have heaps worldwide).....let me know if ya want a copy?




Captjohn I'd be interested to read the article, can you please send me a copy?  My email is joewbhong@hotmail.com.
Thanks.


----------



## the barry (3 May 2007)

captjohn said:


> Thanx money bags,
> 
> Pleased to announce......FAT PROPHETS....has also written a top article  tonite...to all their members(& they have heaps worldwide).....let me know if ya want a copy?




Arrrr Captain,
                   My Email address is hubbarda9@hotmail.com 

If you could send a copy that would be most appreciated. Can't get enough positive reinforcement.

Thanks,
           The Barry

P.s i think Halba is banned for being a naughty boy, pity, miss his posts, they were informative & bought another perspective, havn't heard from mmmining lately either...


----------



## gs07 (3 May 2007)

captjohn said:


> Thanx money bags,
> 
> Pleased to announce......FAT PROPHETS....has also written a top article  tonite...to all their members(& they have heaps worldwide).....let me know if ya want a copy?





capt'n, would love a copy too if you don't mind. g_saldanha@yahoo.com

SP seems to be recovering this morning.


----------



## captjohn (3 May 2007)

The downside from getting a lot of press &media attention is that ....  those pesky daytraders  come out of the woodwork ....They hunt down the companies with positive announcements & move in like vultures!!
Reason being that if they don't quite pick the bottom...its no problem coz the sp will go up sooner or later from its  top fundamentals!!

They use their 'grubstake'of whatever($50k-100k ) to get into the stock & always sell off @5%-ish .Maybe it takes a day ....maybe a week ......this is going on all the time behind the scenes & if too much the sp cannot trend up quickly like the early days....
Having said that I notice bmn is up 6%@3.38  so lets hope it holds up .....however,  macd trigger line is well below its crossing so its still in negative territory..oh well what will be will be (Que sere sere!)


----------



## bliimp (3 May 2007)

captjohn said:


> Very interesting to read your theories for creating and increasing the $$ value of your portfolio.
> 
> That is selling  50% of one "outperformer",eg. bmn.... to then place the "profits" into another possible "outperformer".
> 
> ...




Captain

Just referring to one of your previous BMN repsonses.

I suppose you can you can have day traders at one extremity and fundamental traders at the other extremity.

Do you fit in the middle somewher???


----------



## captjohn (3 May 2007)

bliimp said:


> Captain
> 
> Just referring to one of your previous BMN repsonses.
> 
> ...




Can't tell ya too much blimp.....except that when my 'high maintenance'  young wife wants a new something..I turn into one of those quickie 5%-ers...to get some pocket money!!...Arghhh!!....however, personally  I can live off good announcements  ...I hope that dosen't answer your question...   :


----------



## UraniumLover (3 May 2007)

captjohn said:


> The downside from getting a lot of press &media attention is that ....  those pesky daytraders  come out of the woodwork ....They hunt down the companies with positive announcements & move in like vultures!!
> Reason being that if they don't quite pick the bottom...its no problem coz the sp will go up sooner or later from its  top fundamentals!!
> 
> They use their 'grubstake'of whatever($50k-100k ) to get into the stock & always sell off @5%-ish .Maybe it takes a day ....maybe a week ......this is going on all the time behind the scenes & if too much the sp cannot trend up quickly like the early days....
> Having said that I notice bmn is up 6%@3.38  so lets hope it holds up .....however,  macd trigger line is well below its crossing so its still in negative territory..oh well what will be will be (Que sere sere!)




Captain John,
Totally agree. BMN definitely suffers from the buy on rumour sell on fact syndrome caused by Short Term Trading. It totally has the reverse effect when good news actually come out on a short term basis. 
Most of the short termers have now sold out of their positions and i believe this is a time of consolidation.  A lot may not take new positions due to the month of 'May' syndrome. Now may be a time to top up for long termers as the short termers have moved to other stocks like AGS where good news is 'expected'.


----------



## Punter (3 May 2007)

UraniumLover said:


> Captain John,
> Totally agree. BMN definitely suffers from the buy on rumour sell on fact syndrome caused by Short Term Trading. It totally has the reverse effect when good news actually come out on a short term basis.
> Most of the short termers have now sold out of their positions and i believe this is a time of consolidation.  A lot may not take new positions due to the month of 'May' syndrome. Now may be a time to top up for long termers as the short termers have moved to other stocks like AGS where good news is 'expected'.




Ok. Basically this is what has happened in a nutshell

Now BMN is basically a large company and it gets a lot of attention it is starting to get 'played with'. More day traders/short term traders are 'playing' with this stock, regardless of news/fundamentals/so on. Its trendless right atm (had a look at the chart). There are lots of stale longs all the way up till $3.90. Until it lists in canada, this might go on for a while. Basically this is resembling PDN in its early stages, very similar price action to PDN. Large swings back and forth.


There are over 30 drill results pending as at the last report, so these could provide momentum also. They are also looking at relogging other historical drilling elsewhere on the property.

Most curious of all is the Rossing discovery announced adjacent to their property. BMN might look at drilling that area later this year. 

Remember it might be low grade, but the intersection widths of the orebody are very thick(over 100m thick). So low grade doesn't mean too much. The resource estimate announced did not include large parts of the drilling, and a lot of incomplete data was there. Basically a lot of higher grade stuff was not included in that resource estimate, so judging it on that is IMHO pretty pointless as doesn't give full picture.

Re: Mining costs. Forsys metals reported costs per pound of about $25/lb. But they are lower grade than BMN, about 170ppm. I would assume BMN's will be around $21-22/lb of u308 then. The uranium price is $113/lb and the long term/contract price is $85/lb. Heap leach(same as Rossing) is probably the preferred route. Forsys feasibility aimed to produce about 2-3mil lbs per annum. I imagine BMN could do about four to five mil lbs considering the larger resource.

All this is speculation.


----------



## chris1983 (3 May 2007)

This is a good audio broadcast on Uramin from the wallstreet report.

http://www.wallstreetreporter.com/profile.php?id=23831

I have posted the summary below.

_"Executive Summary 
A recent engineering survey found "no fatal flaws whatsoever" with a Namibian uranium project owned by UraMin (TSX: UMN / AIM: UMN), says CEO Ian Stalker. In fact, the survey recommended accelerating production to 8 million pounds of yellowcake a year, which "makes us a much more substantial producer" when the mine goes live in the next year or so. Cash cost per pound is in the *$18-$19 range* and a robust pipeline of additional uranium projects are moving toward the feasibility stage; the company also has plenty of exploration ground around Africa and in Canada."_

I believe the $18-$19 cost per pound will be similar to that of Bannermans.  Looks good guys.  I have been posting on the Canadian forums of late to get them ready when the TSX listing does occur.


----------



## captjohn (3 May 2007)

Thanx ,
 UraniumLover,
Punter,

Great  personal opinions of whats going on....... this is interesting stuff!! 

Chris, !!!.......
Bmn....should employ you  as P.R. & Marketing man to handle all the 'disbelievers' !! haha  ...boy oh boy & now your onto the Canadian forums....you'll stir 'em up ..great tenacity & I betcha up all nite doing this....


----------



## chris1983 (3 May 2007)

captjohn said:


> Thanx ,
> UraniumLover,
> Punter,
> 
> ...




haha

It doesn't take much work to drop a post there.  So I decided if we can place some awareness of what Bannerman have to Canadian investors then why not.


----------



## the barry (3 May 2007)

The Chris & Captain bannerman show!

Chris the ice man, always there to reassure with figures that hit the target without fail.

The Captain with his humour endless promotion of the company. Not sure if i would have held this long if it wasn't for you guys.


Good on you guys, I'm a believer now(have been for a while) & can't wait till the end of the year when they have completed the resource out to the 1.7 km's & down to 280 meters.

With the lower levels showing higher grades & hits down to 300 meters we should see some positive results later this year. Then comes the BFS in 2008 & drilling on their other tenements. Could it get any better!

Arrg captain, set sail for it seems like the breeze is finally picking up for the good ship BMN...Canada ahoy


----------



## Moneybags (3 May 2007)

Agree Barry,

I'm so glad I got me some BMN. There are some great posters on this thread, keeping spirits high when the ship drifts off course and backing up their positive views with great research and the sharing of information. Awesome stuff.

MB


----------



## captjohn (4 May 2007)

Hi Punter,

Just re read your summary & great to hear a different analogy.......
Rio old boss stated they were expanding full steam ahead!
..(also  fnarenas  did article on Rios uranium expansion )& it sounds like that is at the end of bmn's tenement...called rossing dome (i think).So Rio will be pushing for desal  water plant on the coast...so bmn can get water down the track!!

today, so far so good,  
 up 4%......stochastic bottomed out & turning up ....&macd bending up   ...& all ords out of its downtrend ....but todays friday  ....hmmmmm....

On a brighter note,
my thai wife looked over my shoulder(on computer) & saw Money bags' *'photo'*  & said "Bruddy hell ...if dat's your new friend..he not aroud to come to stay here wif us !!


----------



## chris1983 (4 May 2007)

captjohn said:


> today, so far so good,
> up 4%......stochastic bottomed out & turning up ....&macd bending up   ...& all ords out of its downtrend ....but todays friday  ....hmmmmm....
> 
> On a brighter note,
> my thai wife looked over my shoulder(on computer) & saw Money bags' *'photo'*  & said "Bruddy hell ...if dat's your new friend..he not aroud to come to stay here wif us !!




Yeah its good if it can have two decent days of solid gains.  Get back to a decent level.  Sounds like the technical indicators are starting to look good again. 

haha..moneybags..ul have to put a better looking photo on there.  The ladies dont think your too pretty.


----------



## Punter (4 May 2007)

A quick observation: BMN and PDN are tracking identically. When PDN is 9.40, BMN is 3.40. When PDN is 9.30, BMN is 3.30. Point being the ASX mkt participants are placing BMN's value $6 less than PDN. Funny . The charts are identical.


----------



## Moneybags (4 May 2007)

captjohn said:


> On a brighter note,
> my thai wife looked over my shoulder(on computer) & saw Money bags' *'photo'*  & said "Bruddy hell ...if dat's your new friend..he not aroud to come to stay here wif us !!





That's hilarious Cap'n,   might have to go in for bit of plastic surgery ya reckon. I'll see what I can do.....haha.

Feeling happy today with all my stocks heading north, BMN doing better and the more I read about it the better I feel. 

Onwards & upwards.

MB


----------



## captjohn (4 May 2007)

Moneybags said:


> That's hilarious Cap'n,   might have to go in for bit of plastic surgery ya reckon. I'll see what I can do.....haha.
> 
> Feeling happy today with all my stocks heading north, BMN doing better and the more I read about it the better I feel.
> 
> ...




Good onya moneybags.....ya gotta good sense of humuor.......but pleeeeeze put back ya photo.....coz new one looks like Proff. Frink ...upside down in the negative ... : 


Yes,  bmn up-ish & ern has jumped too!!


----------



## Go Nuke (4 May 2007)

Guys being new this probably sounds stupid..but what are the chances of BMN becoming a takeover target?

I hope it doesn't. Im in the share market for long term gain, and I believe BMN has so far to go.

Great to see its almost back up to where it was earlier in the week.
Lets hope it stays in the green at the close today {being Friday and all}

**MB...I think your Bono pic looks like Daffy duck upside down and negative**lol
Gee...and I missed the 60's  :kiffer:


----------



## Punter (4 May 2007)

Go Nuke said:


> Guys being new this probably sounds stupid..but what are the chances of BMN becoming a takeover target?
> 
> I hope it doesn't. Im in the share market for long term gain, and I believe BMN has so far to go.
> 
> ...




Go Nuke has credit card debts u see LOL...he's praying for a takeover already!!! Na nuke, like any stock it will be a target, but not at this stage yet.


----------



## captjohn (4 May 2007)

Charts are looking better today with nice finish ...macd &stoch.osc & rel.strength all getting up.

Fat Prophets(lotsa members) has recommended clients accumulate uranium shares & only the 3 in their opinion is pdn bmn & mtn.  Reasons are in an article they wrote....


----------



## the barry (4 May 2007)

Go Nuke said:


> Guys being new this probably sounds stupid..but what are the chances of BMN becoming a takeover target?
> 
> I hope it doesn't. Im in the share market for long term gain, and I believe BMN has so far to go.
> 
> ...




Although I dont want it to be taken over, i think that there is no chance that bannermans will ever make it into production. With paladin and rio tinto looking over its boarders, it makes to much sense for one of these companies to take it over. It was only this week that borshoff said they are looking for other targets and companies with high tonnage and low grades are the way to go. Bannermans is a perfect fit, you also have to remember that bannermans has only drilled 1.5 kilometers of a 38 kilometer target area. The longer the companies wait and the more the resource is defined, if all goes to plan the more they will have to pay. Another lift in the spot price of uranium will be the catalyst i think for further consolidation in the industry.


----------



## Go Nuke (4 May 2007)

Would Paladin really dilute their shares more even after taking over Summit?

I liked what i saw in the Fat Prophet article. Made me feel better for the weekend combined with a positive close


----------



## captjohn (4 May 2007)

the barry said:


> Although I dont want it to be taken over, i think that there is no chance that bannermans will ever make it into production. With paladin and rio tinto looking over its boarders, it makes to much sense for one of these companies to take it over. It was only this week that borshoff said they are looking for other targets and companies with high tonnage and low grades are the way to go. Bannermans is a perfect fit, you also have to remember that bannermans has only drilled 1.5 kilometers of a 38 kilometer target area. The longer the companies wait and the more the resource is defined, if all goes to plan the more they will have to pay. Another lift in the spot price of uranium will be the catalyst i think for further consolidation in the industry.




I am the first to admit I'm not sure who can take over who.....bmn's low share issue means we all have a bigger slice of the pie while pdn are into billions of shares so everybody has a very very small slice or even just a crumbor just a sniff !!!

I personally hope I can witness a mine being created over the next 3-4 years!
And even a visit or tour of the area next year ...it all gives me an interest in life to see something created from nothing!!
Most of you out there are young guys that want a house or bmw from trading in this super bull market... fair enuff...I've got most things so kinda hope pdn & rio get brushed off.
I also reckon peter batten is more for creating something to get recognition.....the $$$$ are very secondary!!!....again we'll see later on  how this works out!

Articles & media attention is getting bmn noticed more lately.......& starting to get added onto pdn in news articles..
Months ago I speculated bmn was the next pdn so maybe its starting to become a reality....have a good weekend!!

I'm off to a big ball at the Burswood casino tonite... limo coming etc. I won the triples state championship in lawn bowls....coff coff....hic hic  !!


----------



## Moneybags (4 May 2007)

captjohn said:


> Good onya moneybags.....ya gotta good sense of humuor.......but pleeeeeze put back ya photo.....coz new one looks like Proff. Frink ...upside down in the negative ... :
> 
> 
> Yes,  bmn up-ish & ern has jumped too!!




Dr Evil returns at your request Cap'n.  

re BMN possible takeover target; 

What could a BMN do if it was trying to resist a possible takeover from another company. As someone else has suggested RIO and PDN aren't too far away and would be well aware of what BMN have. My feeling is that PDN are the more likely but I guess even BHP could have a go if they were so inclined.

MB


----------



## champ2003 (5 May 2007)

Moneybags said:


> Dr Evil returns at your request Cap'n.
> 
> re BMN possible takeover target;
> 
> ...




My guess is that it should be easy if it trying to resist a takeover as the directors just have to reject the offer. If the offer is a fantastic offer that the shareholders can't refuse then i guess that that would be a problem for them as the shareholders would accept the offer and the takeover would proceed. I'm not 100% certain how it all works though so If anyone has anything to add that would be great! And i can tell you that I won't be accepting any offer.


----------



## jj0007 (5 May 2007)

Go Nuke said:


> Guys being new this probably sounds stupid..but what are the chances of BMN becoming a takeover target?
> 
> I hope it doesn't. Im in the share market for long term gain, and I believe BMN has so far to go.




If a bid eventuates we will have to join forces..count our holdings..and hopefully combined make up 10% or so.  Then we can block the takeover.


----------



## champ2003 (5 May 2007)

(If a bid eventuates we will have to join forces..count our holdings..and hopefully combined make up 10% or so. Then we can block the takeover.)

Sounds like a plan!


----------



## prophet174 (5 May 2007)

jj0007 said:


> If a bid eventuates we will have to join forces..count our holdings..and hopefully combined make up 10% or so.  Then we can block the takeover.




Would you accept $12-$13 for a BMN share today as opposed to say $18-$80a BMN share in 2010? 

I certainly would have to thinks about it!!


----------



## Punter (5 May 2007)

prophet174 said:


> Would you accept $12-$13 for a BMN share today as opposed to say $18-$80a BMN share in 2010?
> 
> I certainly would have to thinks about it!!




No way with uranium futures starting up I wouldn't be selling these EVER even if I was given $50 a share.


----------



## bliimp (5 May 2007)

captjohn said:


> I am the first to admit I'm not sure who can take over who.....bmn's low share issue means we all have a bigger slice of the pie while pdn are into billions of shares so everybody has a very very small slice or even just a crumbor just a sniff !!!
> 
> I personally hope I can witness a mine being created over the next 3-4 years!
> And even a visit or tour of the area next year ...it all gives me an interest in life to see something created from nothing!!




Hi Captain

Noted a a video clip on Rio's Rossing mine in Namibia .... you might be interested to watch ... just to aclimatise you for when you go to Namibia.

http://youtube.com/watch?v=D2_Rv-FtaD0

Seriously, one cannot underestimate the goodwill and infrastructure that has been setup by Rio over the past few decades to facilitate Paldin's entry into the region, and hopefully in the not too distant future .... Bannerman's.


----------



## Punter (5 May 2007)

bliimp said:


> Hi Captain
> 
> Noted a a video clip on Rio's Rossing mine in Namibia .... you might be interested to watch ... just to aclimatise you for when you go to Namibia.
> 
> ...




Excellent post there, good video. Informative and interesting. It shows the community is happy over there in Namibia. Guess thats the place to be. It looks like a massive operation


----------



## the barry (5 May 2007)

bliimp said:


> Hi Captain
> 
> Noted a a video clip on Rio's Rossing mine in Namibia .... you might be interested to watch ... just to aclimatise you for when you go to Namibia.
> 
> ...




I look ford to the Goanikontes Foundation. When BMN shore up the deposit by the end of the year i look forward to a generous contribution from ASF Bannerman Band of Brothers. Patron saints of the Goanikontes Foundation.

Ahhh the charity... Yet another great reason to be in BMN. Humanitarian aid & education. Gold


----------



## captjohn (6 May 2007)

the barry said:


> I look ford to the Goanikontes Foundation. When BMN shore up the deposit by the end of the year i look forward to a generous contribution from ASF Bannerman Band of Brothers. Patron saints of the Goanikontes Foundation.
> 
> Ahhh the charity... Yet another great reason to be in BMN. Humanitarian aid & education. Gold





Argghhhh!!...me mateys.....great to read a bit of long term dedication to maybe see a mine created in 2 or 3 years..

Rios  P.R. video is all happy stuff!!....but is it all true??

We (the 'bannerman boys' ) can also can do a reality P.R.video of the new bmn mine !


" *The Pirates of  Namibia*"...written by Capt. "Yellowcake"
                                          ....Director   Christopher "Courageous "  
                                          ....Producer  Halba "the ramper"
                                          .....Edited by Kennas "the magnificent"
                                          ... all financed by Money Bags..the "horrible"

Starring U3O8 ..  with mona lisa ,Angela   &  a cast of thousands

Act 1......
 Film Director Chris  sitting in his new BMW series 1983. 
(pans camera over hot goanakonties desert)

OPENING SCENE 
showing 10,000 natives (stolen from paladin )  with picks & shovels , all chained together getting the cato' nine tails... (from Uranium Lover...with sign above mine entrance *'greed is good' !) .....  *

LOCATION :  Anomoly "A,B,C,D,E,F,G, "

DEPTH :  500  plus vertical  kilometres.....the diggers reach China (applause)& "The Barry" sells Yellowcake direct ..... 

Back on ASX .... the sp  spikes  up another 20% ....& bmn puts in takeover bids for BHP & RIO .

 &  we live happily ever after . 

THE END


----------



## bliimp (6 May 2007)

All-Time Record Uranium Spot Price: US$120/Pound!!!

Refer to http://www.stockinterview.com/News/...rice.html?section=news&action=detail&id=66356

A little bit tricky in determining the "authenticity" of above article.

Nevertheless, tomorrow, Monday 6 May, for the first time ever, Uranium futures on the New York Mercantile will be traded ... It will be interesting to see how the first day trades.


----------



## captjohn (6 May 2007)

bliimp said:


> All-Time Record Uranium Spot Price: US$120/Pound!!!
> 
> Refer to http://www.stockinterview.com/News/...rice.html?section=news&action=detail&id=66356
> 
> ...




*Your spot on with new spot price   Blimp !!.....its now $120.*

That website  is reliable & always has the latest price  out first!!

I'm concerned about little quote in W.A.'s  Sunday Times business section...from  Alan Hill State One Stockbroking..

quote

* SELL.....Australian Uranium Juniors....except those with 'resources & feasibility studies'*........


----------



## champ2003 (6 May 2007)

captjohn said:


> *Your spot on with new spot price   Blimp !!.....its now $120.*
> 
> That website  is reliable & always has the latest price  out first!!
> 
> ...




In other words HOLD BMN!


----------



## the barry (6 May 2007)

captjohn said:


> *Your spot on with new spot price   Blimp !!.....its now $120.*
> 
> That website  is reliable & always has the latest price  out first!!
> 
> ...




When, if, bannermans hit 6 dollars we all have to meet for a quiet ale and talk about the one who got away....... hang on..... i believe we may all have this hooked, line and sinker. ... to the band of bannerman brothers... hold fast and good times lay ahead for all. Always gold capi-tan. love your work


----------



## captjohn (7 May 2007)

the barry said:


> When, if, bannermans hit 6 dollars we all have to meet for a quiet ale and talk about the one who got away....... hang on..... i believe we may all have this hooked, line and sinker. ... to the band of bannerman brothers... hold fast and good times lay ahead for all. Always gold capi-tan. love your work




Thanx barry,  and I hope you will consider coming over to perth for AGM  ....end of OCT.
by then  bmn will be further advanced & we will all be interested to hear & discuss their plans for the future.

In between time the sp will take care of itself ...I'm relaxed now knowing of 27 mill. & more to come....so it's a goer!!!


----------



## ekman (7 May 2007)

bliimp said:


> All-Time Record Uranium Spot Price: US$120/Pound!!!
> 
> Nevertheless, tomorrow, Monday 6 May, for the first time ever, Uranium futures on the New York Mercantile will be traded ... It will be interesting to see how the first day trades.




I have read a few articels where analysts think the price will dip and will take down the minnows down with it. I hope BMN sp will be able to absorb this


----------



## Punter (7 May 2007)

ekman said:


> I have read a few articels where analysts think the price will dip and will take down the minnows down with it. I hope BMN sp will be able to absorb this




Why on earth would the uranium price fall ekman? Do these analysts  understand the supply/demand fundamentals of uranium. About 100mil pounds short. thats not changing anytime soon. These analysts have no clue.


----------



## captjohn (7 May 2007)

*HARTLEYS Report now on Bannerman website*

"Go Go Goanikontes"  is latest analysts report to be added on!

Nothing new to us keen followers...all the metrics seem much the same..but emphasises could be 4   target....
Hmmmmm... don't like the sound of that  at all....but next 8 months will be exciting!


----------



## chris1983 (7 May 2007)

captjohn said:


> *HARTLEYS Report now on Bannerman website*
> 
> "Go Go Goanikontes"  is latest analysts report to be added on!
> 
> ...




Hi Guys there was also a recent report released from carmichael with a strong buy Recommended at 3.40


----------



## FinalFantasy (7 May 2007)

chris1983 said:


> Hi Guys there was also a recent report released from carmichael with a strong buy Recommended at 3.40




sorry dis might be a stupid question, but who\what is "carmichael"? where do you see this 'report'?****


----------



## Sean K (7 May 2007)

FinalFantasy said:


> sorry dis might be a stupid question, but who\what is "carmichael"? where do you see this 'report'?****



FF, go to the Bannerman's web site and they have broker analysis attached there. They're under 'latest news'. 

http://www.bannermanresources.com.au/


----------



## davidlu (8 May 2007)

Uranium Future Opens Higher Today 
The June uranium future is now trading for $140 per pound. The bid is 135 and the ask is 144.  


http://redhotresources.blogspot.com/search/label/uranium


----------



## captjohn (8 May 2007)

The chart looks like the macd is heading for the full stretch down to the zero line..... that's O.K.  coz it sorta resets the spring to jump up to a higher level.

 On another thread (ERN)    a post states the Uranium futures has started trading on the NYSE......june contracts bid $135 ask $140.......don't think this effects bmn at this stage ......quiet day today..


----------



## captjohn (8 May 2007)

Arghhh!!......Alliance (AGS) confirm 32 million pounds....then drop 25%.....& we thought bmn was the only one .....sp is recovering now  but goes to show how things operate to the uninformed!!

It'll be interesting to see who gets into production first ??


----------



## Punter (8 May 2007)

captjohn said:


> Arghhh!!......Alliance (AGS) confirm 32 million pounds....then drop 25%.....& we thought bmn was the only one .....sp is recovering now  but goes to show how things operate to the uninformed!!
> 
> It'll be interesting to see who gets into production first ??




Captn, AGS is 25% of the stake of that deposit, so its 8 million pounds..AGS only hold 25% interest in the 4 mile deposit and are a minority holder really.


----------



## captjohn (8 May 2007)

Punter said:


> Captn, AGS is 25% of the stake of that deposit, so its 8 million pounds..AGS only hold 25% interest in the 4 mile deposit and are a minority holder really.




Thanx for that Punter .....I didn't know that ...but do now..
High volume now, nearly 9 million turnover so far...maybe lots on issue.....sorry this should be on AGS thread!


----------



## the barry (8 May 2007)

Announcement out, expect the mine to be in production in 2010.
Other highlights
1. Scoping study to commence and completed within three months
2. Extensive drilling to contiunue
3. Drilling highlights grades increase at depths
4. Feasability to commece early 2008

Looking good!


----------



## Sean K (8 May 2007)

BMN should not release any anns that could be deemed 'good' by the market. 

Down 2%

Classic.

What is it with this company? Quite bizaar really.


----------



## Punter (8 May 2007)

kennas said:


> BMN should not release any anns that could be deemed 'good' by the market.
> 
> Down 2%
> 
> ...




re: down 2%. pull up a watchlist of u stocks, and they are ALL down, worst hit AGS. Some are down on average 5%.


----------



## Sean K (8 May 2007)

Punter said:


> re: down 2%. pull up a watchlist of u stocks, and they are ALL down, worst hit AGS. Some are down on average 5%.



LOL. I've got quite a number in the green on my screen. AGS was a 'poor ann' the market thought. Perhaps this is a 'poor' ann too? What do you think of it? If it is good, why has it gone down? The reason can not be that the rest of the U market is down, because it is not. 

ARU up 4%
EME up 1.5%
ERN up 3%
EXT up .6%
GRY up 2%
LBY up 4%
NEL up .7%
SRK up 3%
UXA up 1.4%
URL up 4.5%
YRR up 2%
PXR up 5%

This is just classic BMN. Perhaps it will recover a bit?


----------



## chris1983 (8 May 2007)

Just be patient guys.  Real value will come through..everything is going as planned.  BMN runs quickly when it does run.  It has been labelled as undervalued by the media..and we all know this too.


----------



## FinalFantasy (8 May 2007)

On my broking thing the BMN hasn't had much trade value today, only about $500k so far, and the ppl selling.. atm the lowest I see is asking for $3.33 when the buyers highest $3.30???
So maybe the small price changes result from these mini bids and stuff?
I could be wrong eheh.


----------



## Sean K (8 May 2007)

I actually think it's a great ann, and the market should respond. They're really making headway and are not like some of these other juniors who can't even get a drill rig organised. These guys are the real deal. It's just bizaar market behaviour that they do not respond well. I'm at a loss. It's not a matter of being 'patient' in this regard either. Anns are either good, bad or indifferent. IMO this was good news.


----------



## Go Nuke (8 May 2007)

It is just typical Bannerman isn't it!
One of the best Uranium stocks......and its down today:screwy: 

But Chris is right..when BMN runs..it Runs!:bananasmi


----------



## Punter (8 May 2007)

kennas said:


> LOL. I've got quite a number in the green on my screen. AGS was a 'poor ann' the market thought. Perhaps this is a 'poor' ann too? What do you think of it? If it is good, why has it gone down? The reason can not be that the rest of the U market is down, because it is not.
> 
> ARU up 4%
> EME up 1.5%
> ...




ARU - a rare earth stock

ERN - speccie
EXT - thats hardly up 0.6%

NEL - hardly up

SRK is an iron ore stock

Rest just specs. What watchlist you using?

MTN down 2.4%
AGS down 20%
PDN down 3%
ERA down 1.5%
PNN down ~1%
CUY down ~4%

Those r better accurate ones.


----------



## happytown (8 May 2007)

give the wider market time to respond to this positive

recent newspaper articles on bmn will likely be followed up as will broker reports

most people get their information directly from newspapers, brokers rather than from co anns released through asx website

if wider market approves sp will respond

cheers


----------



## Louieh (8 May 2007)

Closed unchanged.

Considering it was down the majority of the day I would say that was a good result.

Thats better then what normally an announcement does to bmn's share price


----------



## DAZT49 (8 May 2007)

Maybe we have our heads in the sand, the price is the price.
Two weeks ago it was $3.94 today $3.34 on inspite of all the good news.
Wether WE think its underpriced and that traders dont know what they are doing The market is always right.


----------



## GreatPig (8 May 2007)

A possible small head and shoulders formed here, but otherwise is still pretty much on trend. A drop through the lower trend line would be of concern, but until then I don't see any grave issues with it, technically speaking.

GP


----------



## nizar (8 May 2007)

kennas said:


> I actually think it's a great ann, and the market should respond. They're really making headway and are not like some of these other juniors who can't even get a drill rig organised. These guys are the real deal. It's just bizaar market behaviour that they do not respond well. I'm at a loss. It's not a matter of being 'patient' in this regard either. Anns are either good, bad or indifferent. IMO this was good news.




Relax brother.

We are 1 yr anniversary from May 2006. Alot of nervous punters there dumping stocks today nonselectively.

As for PXR up 5%, that was on volume of 500 shares, LOL


----------



## nizar (8 May 2007)

DAZT49 said:


> Maybe we have our heads in the sand, the price is the price.
> Two weeks ago it was $3.94 today $3.34 on inspite of all the good news.
> Wether WE think its underpriced and that traders dont know what they are doing The market is always right.




Tech is that you?

Well from someone who trades predominantly longer term, with average holding time about 1 yr, im suprised you are looking at performance of 2 weeks ago until now.

If your techtrader system sold whenever the price dropped for 2 weeks, i how it would perform? I would imagine *significantly* worse 

Longer term the chart says up. Thats pretty clear...


----------



## chris1983 (8 May 2007)

nizar said:


> Tech is that you?
> 
> Well from someone who trades predominantly longer term, with average holding time about 1 yr, im suprised you are looking at performance of 2 weeks ago until now.
> 
> ...




I agree with Niz.  Been saying it from the start...we all know the long term trend is looking great.  All these positive announcements will eventually end in BMN going for a run..a jog..what ever you like to call it.  We are progressing nicely.  My current holdings are locked away for some time.  I feel safe with my BMN investment and I feel it could bring just as great of rewards than if I had the money in major specs with greater risk.


----------



## doctorj (8 May 2007)

Nizar, you're barking up the wrong tree - it's not tech/a.

They appear to be a subscriber to EMH...


----------



## nizar (8 May 2007)

doctorj said:


> Nizar, you're barking up the wrong tree - it's not tech/a.
> 
> They appear to be a subscriber to EMH...




Sorry doc.

Tech/a - my apologies.

The funny thing is it wasnt the avator or the "daffy" but even the words sounded like they were coming from tech ??


----------



## DAZT49 (8 May 2007)

No not a tech boys, just a small fish with a small holding. I do agree with the long term outlook ,just a little dissappointed in the market reaction after what seems (and is) pretty good news.
Also I am a bit sulky as I have some GDN stock and got bashed up there.


----------



## BSD (8 May 2007)

Using current USD spot prices of $140lb U308, the interim inferred resource (not a reserve yet) of 12,200tn of U308 is valued at around $3.7bn in the ground

This doesn't mean anything in isolation

The low grade of the inferred resource needs to be accounted-for and a good way is to compare the U308 resource to a similarly valued copper and/or nickel deposit. 

*At current copper and nickel prices of $3.75lb and $23.85lb respectively the BMN inferred U308 resource is the same as an inferred copper resource of 55mt grading 0.82% or an inferred nickel resource of 55mt at 0.14%Ni. *

I know that these numbers could be multiplied tenfold at depth and along strike - but some perspective is required considering the fully diluted $485 million market capitalisation BMN currently commands. 

By the time the resource is expanded by 10 times - the spot U308 price could be $60lb and costs on the low grades could be $50lb????

The grades are the problem - 0.14% nickel is rubbish and 0.82% copper only works on MASSIVE scale. 

Contemplate that EQN has a proven and probable reserve of copper 6 times the comparitive resource of BMN 

EQN has completed a BFS, is fully financed, due to produce in 12 months and has multiple Cu and U308 targets (not to mention the 20m lb of U308 already deliniated) and their market cap is only 4 times that of BMN at this early point in BMN's life span. 


BMN is not the worst of the uranium hype companies by any means, it has what could be a real project. 

But maybe the easy money has been made and those with massive gains should pull-back their expectations of further 'easy money' on a daily basis. 

I have embarked on some NPV analysis of BMN and would love some input from some of the BMN followers to assist me with some of the following queries:


Year of first production of U308
Annual ore milling
Recovery rate
Grade
Capex
Debt/Equity Mix
Equity raising price expectation
Per pound costs (EQN had its far higher grade U resource breaking even at $11lb 7 years ago in similarly poor Africa)

Happy to discuss with fundamentally interested punters via PM - the numbers are interesting but obviously require some 'leaps of faith'. 

I recently soldout of BMN (at a 38% profit) due to low grades. But am confident that BMN is one of the u stocks that have some potential. 

Not interested in arguing (or copping sh*t from BMN addicts/rampers/blind followers)


----------



## Punter (8 May 2007)

You are better off comparing BMN to rossing or uramin/forsys bfs mate. Don't compare to other metals. It skews the logic  and hard to follow. Also your analysis does not include any upside from the drilling program - they have 3 rigs going, and any upside to including 300m+ depth intersections will flow. You are simply looking at the recent figure. Also there are 7km+ strike extensions to be tested. This is very big.

It's good that you realise the value however, welcome aboard BSD.


----------



## jj0007 (8 May 2007)

BSD,

The closest comparison you would be able to make is with Forsys.  They are currently doing their feasibility study on the Valencia mine and should be completed Q1 of 2007.  They are in very similar location to BMN but with lower cut off grade.  This will give a very good indication on how economical BMN can be.  I can't seem to locate their feasibility results yet though.


----------



## champ2003 (8 May 2007)

BSD said:


> Using current USD spot prices of $140lb U308, the interim inferred resource (not a reserve yet) of 12,200tn of U308 is valued at around $3.7bn in the ground
> 
> This doesn't mean anything in isolation
> 
> ...




Hi BSD,

You should read BMN's 7pm announcement tonight as that will answer most of your questions. Great that you've got some profit and are happy with that as thats the most important thing. I don't know of anyone else saying to sell BMN and in fact everyone is screaming to BUY!! Potential to quadruple it's resources by years end and thats just the tip of the ice burg.
Production by 2010, scoping study to only take 3 months to completion, listing on the TSX around Sept, BFS in early 2008. Seems to me that this company is one of the only companies that I know of that are actually doing everything that they are saying. there is very little downside with this company IMO.

Cheers!

Champ


----------



## captjohn (8 May 2007)

Arghhh!!...me mateys  ..I go out for the arvo & come back to all sorts of mayhem!!

Firstly welcome to opinions from  final fantasy,davidlu,happytown,louiey,dazt 49, great pig ,doctorj&BSD,

Just read the latest report & all great news again..to keep building up bmn's strength....towards a mine into production at 2010.

*That suits me great....coz how many other companies out there can tell you that!!  ..a mine in 2010    Hmmmm????*

Believe me .....Carmichaels are the trading power & volume behind bmn & control the sp &  what happens on a day to day basis.

Right now macd is below its signal line so sp is kept lower.....sorry you all don't like that but thats the way the carmichaels traders do it.... to keep the perfect chart !

They have again confirmed the value in latest report at $4.50-$5.70  now ...& thats where it will get to  ...more or less!! by the time bmn confirm deeper depths to 300 metres!
Most of us are getting taken along for the ride.....the next jump up will be $3.50-$4.50-ish!(up 25-30%)

If you don't like that then ,sure you can jump around with all the little juniors & pick up 15-20% in a month.....good on ya!!.
But ya won't get this return from ERA,PDN,MTN orAGS  anymore...its all coming back to fundamentals now!!

However Bannerman are telling you ;  they are going into production probably quicker than any Ozzie similars!!..

The bigger $$$ investments can go onto BMN with confidence...$3.50 -ish now to 'who knows ' by years end,when with maybe 100 million lbs of U3O8 confirmed I've been told  of  valuations of $10-ish a share!!!!!

I reckon the management will brush off takeover tactics from RIO & PDN.
Personaly I'd love to see a mine created to see something created out of nothing!!
IMO  bmn is shaping up to be another pdn ...can anyone tell me ...why not??

...


----------



## Punter (8 May 2007)

Better than pdn, with a large open pit you can produce more captn'.

Good to see the bannerman BOD(band of brothers) expanding!


----------



## captjohn (8 May 2007)

The 7 pm. company presentation ......

Wowie... just read Goanikontes timetable  & it spells it all out even for for 'Blind Freddy'... to become a top ten world producer..

Last week kennas laughed at me when I speculated at maybe even dividends from bmn shares in 3 or 4 years.

bmn can sell U3O8 at top prices with no hedging....so why not make a huge profit & declare dividend...  Zinifex did so ...& I got heaps in dividends.


----------



## Moneybags (8 May 2007)

This company is really putting the foot down. I am feeling more & more positive about this every day. We are being kept informed regularly and the news is good. The sp will take care of itself eventually as the Cap'n has said, and the company is aiming to be a top ten producer, this is awesome stuff.

MB


----------



## jj0007 (8 May 2007)

captjohn said:


> However Bannerman are telling you ;  they areI reckon the management will brush off takeover tactics from RIO & PDN.
> ...




Very little chance with RIO IMHO.  The CAZ boys and RIO aren't the best of mates at the moment.  Having said that....give enough premium and money always talks  



captjohn said:


> bmn can sell U3O8 at top prices with no hedging




A little premature to assume that at this stage.  If they decide to go predominately bank financing then they will be forced to hedge some.  Having said that if this boom continues they should be able to get most funds from the market.  Hopefully the canadians can play a role or an offtake partner.


----------



## Rob_ee (8 May 2007)

Just how many millions of those 6.7c options are there to be exercized this month.

No matter how high the SP might go the temptation for those holding to ofload a few million here and there will be great ??

Rob


----------



## chris1983 (9 May 2007)

Rob_ee said:


> Just how many millions of those 6.7c options are there to be exercized this month.
> 
> No matter how high the SP might go the temptation for those holding to ofload a few million here and there will be great ??
> 
> Rob




If they offload them they will get eaten up pretty fast.  Its not a bad thing to be getting fresh investors in at these price levels.


----------



## Sean K (9 May 2007)

GreatPig said:


> A possible small head and shoulders formed here, but otherwise is still pretty much on trend. A drop through the lower trend line would be of concern, but until then I don't see any grave issues with it, technically speaking.
> 
> GP



I agree. I posted on that last week I think, but it recovered quickly after breaking the neck line. Could still be a factor. Also agree with the trend line, it bounced off that very well last week at 3.06. Need to revisit it around that level again. If it gets there. Still trending well up until below that line. Cheers GP. Love your charts!


----------



## Punter (9 May 2007)

Thanks kennas for your insight. The reason why bmn not going up is sector specific - most of the u stocks are either in retracement/consolidation mode which they have been for about a month. this is normal, but in bmn's case is ill-timed because so much is happening. Should be rewarded for the good progress/mngmt capability. 

Latest uranium price now $144/lb, up $9

XUM07 [30] Uranium U308 Swap  Jun '07 15:07:39 144.00   
*9.00 *144.00 148.00 143.00

Here is the many different targets BMN has. You can see clearly the exploration potential! It is huge. They are only drilling out one little bit of that area.


----------



## davidlu (9 May 2007)

Monday's Uranium Futures Results 
In Monday's NYMEX action, the front-month (June) uranium future settled at 135 after making a high of 140. But only six contracts traded. Interestingly, 20 contracts for January traded at a price of 150.50.

So speculators or whoever is trading this expect the price of uranium to be $150 per pound in January.

Remember, just because the futures settled at that price yesterday doesn't mean prices can't go up or down a lot today. Especially when the future is so illiquid, we could see big jumps either way. 

http://redhotresources.blogspot.com/search/label/uranium


----------



## gs07 (9 May 2007)

More media on this 2010 production timeline:

http://allafrica.com/stories/200705080324.html

http://www.newratings.com/analyst_news/article_1527933.html


----------



## captjohn (9 May 2007)

gs07 said:


> More media on this 2010 production timeline:
> 
> http://allafrica.com/stories/200705080324.html
> 
> http://www.newratings.com/analyst_news/article_1527933.html




Thanx gs07....I'm starting a kinda 'scrapbook' for announcements,& media  stuff for my own interest....so post anything you find on bmn....cheers cj


----------



## chris1983 (9 May 2007)

Bannerman has an article in the latest Paydirt magazine for the month of May.  Its titled "Bannerman validates historic data".  Nothing we dont know..its even a little behind..but it is more exposure for the company.


----------



## Sean K (9 May 2007)

chris1983 said:


> Bannerman has an article in the latest Paydirt magazine for the month of May.  Its titled "Bannerman validates historic data".  Nothing we dont know..its even a little behind..but it is more exposure for the company.



Chris what do you think of the exposure in the articles presented above. Both discuss environmental concerns. Do you reckon the Namibian Government is going to listen to greenies and tourists, or is mining uranium more important to them?


----------



## chris1983 (9 May 2007)

kennas said:


> Chris what do you think of the exposure in the articles presented above. Both discuss environmental concerns. Do you reckon the Namibian Government is going to listen to greenies and tourists, or is mining uranium more important to them?




They are such a minority.  I really dont think there will be any problems at all.  They granted the license..the government wants it to be developed.  Theres a lot of money involved and they wont pass it up due to a few greenies.  They had this problem ages ago..an article about six months ago was written about it...you would probably be able to find it on google if you have a search.  Paladin also had this problem..along with how many of the other mining companies.  Erongo will have the same problem also.  Every mining company there will have these problems.


----------



## Sean K (9 May 2007)

chris1983 said:


> They are such a minority.  I really dont think there will be any problems at all.  They granted the license..the government wants it to be developed.  Theres a lot of money involved and they wont pass it up due to a few greenies.  They had this problem ages ago..an article about six months ago was written about it...you would probably be able to find it on google if you have a search.  Paladin also had this problem..along with how many of the other mining companies.  Erongo will have the same problem also.  Every mining company there will have these problems.



Yep, I agree. Should be just routine to get the final mining clearance from here, unless the mine sites are in a particularly sensitive zone. I haven't seen that mentioned any where. Perhaps because they've got the drilling authority, it's just a matter of course now. This is the first time I've heard of 'environmental' concerns in Africa. Perhaps it's more to do with the tourist operators.


----------



## Rafa (9 May 2007)

I think miners in Australia will have far more resistance to overcome than any miner in Namibia...

There is not only greenies, there is heritage, conservation and native title... plus water!


----------



## chris1983 (9 May 2007)

I guess if you were looking for negatives with Bannerman you could single out two.  Water and Environmental concerns.

Your right Kennas it was the tourist operators kicking up a fuss in the article about 6 months ago.  Here you go.  You can all have a read of this old article if you want.

http://www.news.swakop.com/English/Articles/AnotherUraniumMineintheMo.html

Same thing happened with Paladin.  They wont be able to stop the mine from going ahead.  These little hurdles are like pebbles on the road.


----------



## Kimosabi (9 May 2007)

chris1983 said:


> I guess if you were looking for negatives with Bannerman you could single out two. Water and Environmental concerns.
> 
> Your right Kennas it was the tourist operators kicking up a fuss in the article about 6 months ago. Here you go. You can all have a read of this old article if you want.
> 
> ...




They are so short sighted, three headed zebra's roaming the savannah would be a tourism bonanza.......


----------



## chris1983 (9 May 2007)

I'm not reading messages properly.  I think I NEED rest.  Bannerman are going down for what?  No reason.  Pretty boring day today


----------



## Go Nuke (9 May 2007)

chris1983 said:


> I guess if you were looking for negatives with Bannerman you could single out two.  Water and Environmental concerns.
> 
> Your right Kennas it was the tourist operators kicking up a fuss in the article about 6 months ago.  Here you go.  You can all have a read of this old article if you want.
> 
> ...




Yeah I saw this article when i first did my research on BMN. But I have to agree....with the licences already being issued and companies like Paladin already overcoming the same hurdles, it wont interfere with BMN's future production IMO.

They are certainly getting what seems to be heaps of attention lately, though its not reflected in the share price of late....unfortunately.
Even reading their company presentation, Bannerman is very keen to ramp themselves up of late.
{Top 10 U producer by 2010-2011}

This MUST be making the Canadian drool!
"Give us access to BMN shares" i can hear them saying!:bowdown: 

With SSSSOOOO much more to drill out and exploration work to be done, Im sure things can only get better for BMN.
:bounce:


----------



## chris1983 (9 May 2007)

Go Nuke said:


> Yeah I saw this article when i first did my research on BMN. But I have to agree....with the licences already being issued and companies like Paladin already overcoming the same hurdles, it wont interfere with BMN's future production IMO.
> 
> They are certainly getting what seems to be heaps of attention lately, though its not reflected in the share price of late....unfortunately.
> Even reading their company presentation, Bannerman is very keen to ramp themselves up of late.
> ...





Well I really think they should push hard to go onto the TSX.  They were treated a lot better when they had nothing proven.  Bit of a joke really..but im patient.


----------



## Rafa (9 May 2007)

chris1983 said:


> Pretty boring day today




you've obviously missed out on the BHP and RIO shenanigans ... ..    
been anything but a boring day...
(tho i haven't made any money today so not happy  )


----------



## chris1983 (9 May 2007)

Rafa said:


> you've obviously missed out on the BHP and RIO shenanigans ... ..
> been anything but a boring day...
> (tho i haven't made any money today so not happy  )




Boring day for me then.  You own those two?  It costs too much money for me to invest in those just to make the same amount from putting 5 grand into a 50 cent stock and watching it go to over a dollar.  I'm more of a spec player.


----------



## captjohn (9 May 2007)

chris1983 said:


> Well I really think they should push hard to go onto the TSX.  They were treated a lot better when they had nothing proven.  Bit of a joke really..but im patient.





Yes ..I'm a bit puzzled too about this....FUNDAMENTALS are so STRONG now 

  ..so by deduction  I  reckon Carmichael's and/or Mr.Market are slowing it down by keeping sp consolidating .

Remember they said; "when depths to 200 plus meters are confirmed with similar grades in Anomoly A ;   then...sp would be worth $4.50-$5.70"

Bmn may have said to them (djc's) this will take 2 months or3-4 months etc....
So why take sp up now & have to hold it there for 3 months??...& still wait until depths are confirmed..

Another theory is that I read on an American Uranium website  that the   world U chart is correcting & consolidating!.
I think punter mentioned this the other day.

The little juniors still jump around a lot (ero for example)...gives the daytraders something to do to pay for their BMW's   hahaha


Another brilliant deduction from captjohn as he sips his rum!! Arghhh


----------



## doctorj (9 May 2007)

What a load of tripe.

Of the hundred or so uranium companies peddling their wares on the market at the moment, only a small percentage of them will find their way to production.  The rest will become green energy companies, biotechs or whatever the next fad is.  A lot of the deposits aren't large enough to warrant the capex required to bring them to production.  Others don't have the money to drill out a JORC resource.  Many of them (such as a particular listed retail company that today announced it was going into uranium) simply don't have the skills to bring these projects to fruition.  
Uranium companies are the play thing of speculators just as much IT companies were the home of hot money in the IT bubble.  Some of these IT companies exist still today and have performed outstandingly well.  The majority disappeared into the ether.

The Uranium price doesn't mean squat for the majority of these companies.  Its this kind of "analysis' that helps people sleep at night that have all their eggs in the one basket.  These are the same types of people that road the IT bubble all the way up and all the way down.

The majority of uranium speculators won't end up driving a new beamer, most of them will burn their capital and have to borrow Dad's old Camry.


----------



## Rafa (9 May 2007)

chris1983 said:


> Boring day for me then.  You own those two?  It costs too much money for me to invest in those just to make the same amount from putting 5 grand into a 50 cent stock and watching it go to over a dollar.  I'm more of a spec player.





i've had them at various points in my life, but not the last few days    

thats life!

doc, you make a good point...
if every U spec play going great guns at the moment ever did get to production, the U price would be back at $10 bucks

the challenge is the pick the 2% who make it...

interesting to see the U craze has died down in the last couple of weeks... there are a lot of overvalued companies out there, tho i don't believe BMN is one of them, especially with yesterdays announcement.


----------



## jj0007 (9 May 2007)

doctorj said:


> Of the hundred or so uranium companies peddling their wares on the market at the moment, only a small percentage of them will find their way to production.




Agreed.  Personally I bought into BMN because I could see a very real possibility of a mine in the medium outlook.  Nothing is gurranteed but the pieces are slowly fitting into place.  Investing in all stocks (specs or bluechips) involves some sort of calculated gamble.

I recommend some of you stop watching the SP every day (or every 5 minutes  ) and trying to justify why its going up or down.  It will drive you insane.  Take a step back and have a look at your 1 year chart and tell me if there are any problems.  RSI is heading below 50 towards the buy zone.  SP still above the 50 day average.  2 significant milestones achieved in recent weeks.  Stress less.


----------



## captjohn (9 May 2007)

Doctorj,

I liked your post! 

 I've been stating your story for a while too!.....

"A load of tripe" ?...
may I ask what you're referring to with that opening remark....thankyou!


----------



## chris1983 (9 May 2007)

Bannerman is in a very good position.  I mean other very promising companies such as Marathon Resources have their director John Santich saying comments below

_"From my point of view there is no point my saying we are going to be mining in three years because its not going to happen.  It does take five years to build a uranium mine.  In our models, we have given three years for permitting and I think this is a realistic view of how long - even in a pro-uranium environment - companies are going to have to wait."_

That was taken from an article on Marathon from the latest Paydirt magazine.

So to me Marathon and other advanced Australian uranium explorers are looking at production after 2012.  Goes to show the delays that are faced by companies with quality resources in Australia.  Bannerman are in an excellent position..I'm looking forward to the scoping study being released.


----------



## nizar (9 May 2007)

kennas said:


> Chris what do you think of the exposure in the articles presented above. Both discuss environmental concerns. Do you reckon the Namibian Government is going to listen to greenies and tourists, or is mining uranium more important to them?




LOL good to see we have all grown up here...
I thought this comment would spark another punch on!


----------



## chris1983 (9 May 2007)

nizar said:


> LOL good to see we have all grown up here...
> I thought this comment would spark another punch on!




haha   I thought it was a very valid point to talk about. I'm not worried about the tourist operators though.  Whats your opinion Nizar?


----------



## nizar (9 May 2007)

chris1983 said:


> haha   I thought it was a very valid point to talk about. I'm not worried about the tourist operators though.  Whats your opinion Nizar?




My opinion basically the same as yours. I was a keen follower of PDN and held them for sometime (not long enough) so i know the issues that your talking about and i agree, they should get through it okay.

Every mine has problems getting approvals and all that, but as long as its nothing hardcore like Jabiluka, then it should be okay LOL.

Namibia is not a rich country. They could do with the money. And so could I so please BMN double digits by next year LOL


----------



## bliimp (9 May 2007)

Oh heck ... so most uranium stocks have gone down in price this week ... and so has BMN ... even with a very promising announcement ... big deal ... who really cares ... let the market go through its motions.

I would just like to make a couple of points to try and put a perspective into BMN

POINT 1 : NAMIBIA vs AUSTRALIA

As I had mentioned recently in a post on ERN, came across an interesting article on Gunson Resources of Western Australia; who had to endure a 4 year Environmental Protection Authority process to mine zircon … not uranium. 

Refer to http://www.gunson.com.au/files/repor...20Mar 07.pdf

To quote … “We have worked very hard with Federal, State and local governments, the local community, environmental groups and other key stakeholders to ensure that the unique environmental values of the Shark Bay World Heritage Property and the broader region are protected and conserved for future generations, while ensuring the economic and social benefits of the Project are shared with the local community”

And so what if Labour has done away with their infamous 3-mine policy ... big deal ... the administrative red tape in Australia will still be there, be it environmental or aboriginal or heritage ... and as for Beattie in QLD and Carmichael in WA, they could not care less about uranium when votes are at risk.

POINT 2: HUGE LOW GRADE DEPOSIT

I still cannot go past John Borshoff's recent comments :-

"Any pounds you introduce won't affect the uranium price ... This is a 60-year problem. What the world needs is huge, huge low-grade deposits." 

Refer to http://www.theaustralian.news.com.au/story/0,20867,21655788-5005200,00.html

I mean, you would have to be blind and deaf and very, very, very, very dumb to not seriously take note of what he is saying ... and to not conclude that he may have  his sights on Bannerman (or the likes of Erongo Energy) just next door to his Langer Heinrich mine in Namibia!!!

And when this week we have Bannerman effectively implying that we have a "massive" resource in the making!!! (effectively telling us what chris1983 and halba have been saying for the last 12 months)

Nudge! nudge! ... wink! wink! ... how much more information do we need!


In summary, as far as I am concerned, I don't need any more "analysis paralysis" on Bannerman  .... call me an addict/ramper/blind follower (as expressed by BSD) .... I don't care .... As for technical charts, they are great for the "traders" in BMN .... but I have put my money where my mouth is .... and am prepared to now play the waiting game.


----------



## Captain_Chaza (9 May 2007)

Ahoy all onboard the BMN

Technically speaking she looks like threatening to break down out of a Decending Triangular Top Formation IMO
I invite any chartist  to comment with a matter of Urgency?

I have no idea re the fundumentals so do your research

The charts never lie once that neck is broken
(Except for those Bloody False breaks of course albeit rare)

NB: I have always found , One must always be prepared to spin around on a six-pence if it goes the other way and act instinctively without hesitation 

"The Wind Calls the Tune" 
Unfortunately for most of us, she is a lot quicker than we can think


----------



## captjohn (9 May 2007)

I lived in south africa in the mid 80's when I was sailing around the world!....I visited Rhodesia(now Zimbabwe)& tried for South west Africa which is now(Namibia)..but it was in a  civil war  then !!

Anyway these so called democratic governments (namibia) are very well entrenched in power & any opposition to their goals are suppressed.
The 3% royalties from another mine from bmn will add to their coffers.
These tourist operators will try to object but will get kinda pushed aside....the article in the paper that got into england is all part of the process but will be smothered.

We want a new desal.plant on the coast for Rio's expansion & for bmn to get operating....the goverment will like that too.....to get some more water for Windhoek as well!!


----------



## nizar (9 May 2007)

Captain_Chaza said:


> Ahoy all onboard the BMN
> 
> Technically speaking she looks like threatening to break down out of a Decending Triangular Top Formation IMO
> I invite any chartist  to comment with a matter of Urgency?
> ...




Hi Chaza.
Yeh well on my chart it doesnt look like she has broken down YET.
But clearly a descending triangle is in play.
Tomorrow will be telling.


----------



## captjohn (9 May 2007)

bliimp said:


> Oh heck ... so most uranium stocks have gone down in price this week ... and so has BMN ... even with a very promising announcement ... big deal ... who really cares ... let the market go through its motions.
> 
> I would just like to make a couple of points to try and put a perspective into BMN
> 
> ...




Hopefully pdn are still suffering from "the dilution blues"...summit has weakened pdn requiring zillions of extra shares to be issued to takeover......pdn's share price is still licking its wounds .

The analysts had trouble valuing pdn before the takeover ...now its even harder.
Anyway lets hope bmn can keep out of their sights.


At a boy Blimp!! you're my man !!.....took the words right outa my mouth!!
You must come across for the bmn AGM ..end Oct. by then we'll have a lot o' issues to hear &discuss.

And capt chaza ...love ya avatar...anymore like that   Arghhhh!!


----------



## Logique (10 May 2007)

The market is distracted by the RIO and BHP thing that's all. And I think Bliimp said what is on many people's minds, speaking of takeovers.


----------



## Go Nuke (10 May 2007)

Ah its BS!

How come when ERO releases an announcement their share price goes up...but for BMN..it goes down!

Must be some stupid, blind investors out there that fully believe that Aussie Uranium will be the best or something 

I wouldn't be so annoyed and impatient if I hadn't borrowed to buy some more short term shares thinking BMN would actually go UP with all this positivness around them atm!

Excuse me while I go stick my head in the sand for a week or two:bonk:


----------



## captjohn (10 May 2007)

Go Nuke said:


> Ah its BS!
> 
> How come when ERO releases an announcement their share price goes up...but for BMN..it goes down!
> 
> ...




Sorry to hear that Nuke....this is another consolidation to get the macd back to zero line....& mark time until they drill down to 200 meters!!
while ya head's in the sand you might find some uranium there & we can float a new company..... (I'm trying to make ya laugh )


----------



## Go Nuke (10 May 2007)

captjohn said:


> Sorry to hear that Nuke....this is another consolidation to get the macd back to zero line....& mark time until they drill down to 200 meters!!
> while ya head's in the sand you might find some uranium there & we can float a new company..... (I'm trying to make ya laugh )




LOL..you did make me laugh..thanks mate.

Im hopeing it bounces off the zero line like last time.
Maybe it will then hit the $4 mark and I will feel better
Thx


----------



## captjohn (11 May 2007)

Go Nuke said:


> LOL..you did make me laugh..thanks mate.
> 
> Im hopeing it bounces off the zero line like last time.
> Maybe it will then hit the $4 mark and I will feel better
> Thx




Yes nuke now your learning how to read the charts...just like ya capt.......Arghhh!!...

early next week  macd ...will bottom out ready to spring up again ...as I don't think we're in a major correction.
check your pm box for more info!!


----------



## happytown (11 May 2007)

Large parcel of shares went thru about 30 mins ago, 1.5 million in total - insto taking a position perhaps, may have been someone realising their may-expiration options, regardless someone showing confidence in bmn at current price.

cheers


----------



## the barry (11 May 2007)

happytown said:


> Large parcel of shares went thru about 30 mins ago, 1.5 million in total - insto taking a position perhaps, may have been someone realising their may-expiration options, regardless someone showing confidence in bmn at current price.
> 
> cheers




102 2:30:27 pm 316 1,575,000 5 $4,977,000 1 

Pretty much $5 million dollar trade at 3.16, if it was a director exercising his options wouldn't they have to make an announcement to the market?


----------



## happytown (11 May 2007)

the barry said:


> ...
> 
> if it was a director exercising his options wouldn't they have to make an announcement to the market?




Any change of interest by a director requires notification, for that matter an exercise of options by anyone would require app 3B notification, however these notices, generally speaking, arrive a few days after the fact.

cheers


----------



## Moneybags (11 May 2007)

happytown said:


> Large parcel of shares went thru about 30 mins ago, 1.5 million in total - insto taking a position perhaps, may have been someone realising their may-expiration options, regardless someone showing confidence in bmn at current price.
> 
> cheers




Happytown,

Who wouldn't show confidence in BMN at current price. Sure wish I'd picked mine up at these prices. Good to see the BMN band of brothers expanding with a flurry of posts last few days.

MB


----------



## Rob_ee (11 May 2007)

happytown said:


> Large parcel of shares went thru about 30 mins ago, 1.5 million in total - insto taking a position perhaps, may have been someone realising their may-expiration options, regardless someone showing confidence in bmn at current price.
> 
> cheers




This was listed as a "Special crossed trade"
The fact remains that volume is around 300k per day which seems a big problem seeing as how 6 Million options were taken up at 6.7c earlier this month.
If I read the announcement properly ?? there are 20 Million more options at 6.7c which expire in 2 weeks and will presumably be taken up.

If I was the lucky recipient, no matter how high I thought BMN might go I would be sorely tempted to ofload some.

While I am still fairly new to the market and don't always interpert these things correctly I am assuming that to ofload all these millions on the current daily average volume (disregard today cross trade as this did nothing for the market depth recipients) will keep the SP depressed for many months.

I hope I am wrong for the sake of current hopefulls... there must be many of you who are holding on having bought earlier at lower prices.

The fact remains it will be 3-4 years before BMN can get a mine going - if ever- thats a long time .

Hopefully I might pick some up once the price bottoms and resumes an upward trend.

As Mr Spock might say "To buy BMN at todays prices does not seem logical"

Rob


----------



## Rob_ee (11 May 2007)

Rob_ee said:


> While I am still fairly new to the market and don't always interpert these things correctly




Mind you I wouldn't buy WMT @.27c because I also thought that the 21c issue would depress that price as well ..so what do I know. 

Good luck BMN people
Rob


----------



## Go Nuke (11 May 2007)

Moneybags said:


> Happytown,
> 
> Who wouldn't show confidence in BMN at current price. Sure wish I'd picked mine up at these prices. Good to see the BMN band of brothers expanding with a flurry of posts last few days.
> 
> MB




Yes MoneyBags..me too.
Ahhh...if only I had a spare 5Mil lying around..lol.
IMO i think buying into BMN at around the $3.15 mark like today wouldn't be such a bad thing

As people keep saying, the fundametals of BMN are still the same and only look to get better in the future.

Im very curious to know how much their other annomolies hold that surround the Rossingburg Dome.


----------



## Punter (11 May 2007)

Rob_ee said:


> This was listed as a "Special crossed trade"
> The fact remains that volume is around 300k per day which seems a big problem seeing as how 6 Million options were taken up at 6.7c earlier this month.
> If I read the announcement properly ?? there are 20 Million more options at 6.7c which expire in 2 weeks and will presumably be taken up.
> 
> ...




If you don't like it don't buy then. Its that simple. BMN has been tirelessly analysed on this forum and the presentations are clear on what they have. Not too sure what options expiry means relative to the resources they have.


----------



## Rob_ee (11 May 2007)

Punter said:


> If you don't like it don't buy then. Its that simple. BMN has been tirelessly analysed on this forum and the presentations are clear on what they have. Not too sure what options expiry means relative to the resources they have.




I am not trying to talk down the share price .. rather expressing an opinion based on my limited understanding (I made that quite clear)

There seems to be some despair in recent posts as to why with Uranium at record prices the ASX at record levels the DOW at record levels the BMN price has been retreating at such a rate.

It may possibly be because of the 6.7c options SOME of which may be being offloaded.

I have no interest at all in BMN and never will unless the price falls below 2.49 which is the maximum my MS exploration considers... I guess that will never happen.

Only being in the market for 4 months I try to look at all stocks to try to understand why they are trading at current prices and the logic that drives the market even though I will in all probability never trade them.

The ironic part is I got psyched out ow WMT when MS said they were a good buy at 27c because of that options thing which comes on line for 21c.
I actually bought some today at 34.5c (not 27 like I should have) because I didn't follow my original trading entry out of fear.

The reason for my WMT entry today is that it seems to be holding at .335 where it bounced of the last few days so just maybe it may resume its upward trend.

Rob


----------



## chris1983 (11 May 2007)

The options werent all bought at low prices dont forget..so I wouldn't keep focusing on investors offloading their oppies once converted.  Some may offload..but big deal.  Brings in fresh blood..I dont know if people are showing despair but I'm definately not one of those holders.  I am not phased by any downturns in SP.  I'm just waiting for the next leg up.  Bannerman have had excellent support once hitting particular levels.  It would be hard to push down the Bannerman SP to break all support lines when it has never reported any bad news at all.

In time SP will reach the 4.50 price target set by Carmichael.  I personally think it will smash this price target..my own opinion..but for now I'll stick to reaching that initial 4.50 mark.


----------



## Punter (11 May 2007)

Rob you've been investing for four months. Fair enuff. I follow the fundamentals of the company, the resources and I'm a long term investor in BMN. Who cares 3-4yrs production time you mention, companies are valued for pounds in the ground *today at least $10/lb.*

I wonder why people look too short term at companies. You can't be successful if you take too short term approach. Sure its going down, so its not loved at the moment. Doesn't mean its bad.


Now you tell me BMN doesn't have a shot at getting a large reserve:

Kindly look at my earlier post

https://www.aussiestockforums.com/forums/showpost.php?p=155244&postcount=1659

Re: Too far from production. This has never hurt a stock. FMG was $1 stock once. Yep 4 yrs till proddy baby! Whats it now? $30 nearly.


----------



## captjohn (11 May 2007)

Crosstrading is the process of buying your own "short" shares & hence  going into  a "long" position !
 IMO because bmn are so illiquid the broker (probably DJC's)has instantly gone into a long position now.

Bannerman shares are not yet listed with Man CFD's or any other CFD providers...so us mere mortals can't do "short" trading yet on bmn !   pdn is o.k. for trading short!

  bmn really are still quite  illiquid.....thatis not many shares on issue........&  lately with top fundamentals now ....who wants to sell ....not many  ..that's for sure.
The sp closed up above yesterdays close so IMO  sp should go up!!!....but US markets are important  influence on us.....


----------



## professor_frink (11 May 2007)

captjohn said:


> Crosstrading is the process of buying your own "short" shares & hence  going into  a "long" position !
> IMO because bmn are so illiquid the broker (probably DJC's)has instantly gone into a long position now.
> 
> Bannerman shares are not yet listed with Man CFD's or any other CFD providers...so us mere mortals can't do "short" trading yet on bmn !   pdn is o.k. for trading short!
> ...




What on Earth are you talking about Capt? 

"covering" is buying back a short position 


Have a look at IG- BMN is on the list  

A close above yesterday's close means it HAS gone up, not it should.

You really need to think a little bit before you post this kind of nonsense.


----------



## champ2003 (11 May 2007)

professor_frink said:


> What on Earth are you talking about Capt?
> 
> "covering" is buying back a short position
> 
> ...




Professor Frink,

Captjohn knows that the share price went up. Re read his post and you might want to rethink what you wrote to him. He is referring to the share price of BMN going up from now as in higher than todays close.

Cheers!

Champ


----------



## professor_frink (11 May 2007)

champ2003 said:


> Professor Frink,
> 
> Captjohn knows that the share price went up. Re read his post and you might want to rethink what you wrote to him. He is referring to the share price of BMN going up from now as in higher than todays close.
> 
> ...




If the good capt is trying to imply that one day of gains means the share price is going to continue rising, it is just as bad as his earlier stupid comments in that post.

So no, I won't be rethinking anything I said Champ. It is still a shocking post full of nonsense.


----------



## Captain_Chaza (11 May 2007)

Ahoy there?

I've  just come fron another site/forum where the "Norm" is to "Eat their Own"

Please tell me I have not jumped out of the frying pan and into another fire, Here?

Salute and Bon appatit

There are so many great seaman on this site I would hate to lose any one of them

Please Cool it crew!

I congratulate the Naval Architects for constructing such a Fine Ocean Going  Vessel with Up-To The Minute Calls and Ocean Alerts

I am very impressed!
It is so hard to keep up with them all and get a financial advantage!!!

But I try and I try again!


Salute and Gods' speed


----------



## Joe Blow (11 May 2007)

captjohn said:


> Crosstrading is the process of buying your own "short" shares & hence  going into  a "long" position !




Captain, this is simply not the case. Please read about cross trades here:

http://www.asx.com.au/investor/education/basics/crossings.htm


----------



## the barry (11 May 2007)

professor_frink said:


> If the good capt is trying to imply that one day of gains means the share price is going to continue rising, it is just as bad as his earlier stupid comments in that post.
> 
> So no, I won't be rethinking anything I said Champ. It is still a shocking post full of nonsense.




Ease up professor. All you need is to correct the error. All friends here on the BMN thread. 

Peace


----------



## UraniumLover (11 May 2007)

Captain_Chaza said:


> Ahoy there?
> 
> I've  just come fron another site/forum where the "Norm" is to "Eat their Own"
> 
> ...



Ahoy Captain_Chaza 

 BMN is  suffering a money transfer from the uranium sector after the good run of late. People are waiting on the side lines to jump in when timing is correct.
It's held up better than most U stocks of late and has only announced good news.
No need to panic  maties! ARRR! Good level to top up or enter is close to 3.00 IMO looking at Indicators  and Price


----------



## Go Nuke (11 May 2007)

Well looking at all those indicators and going by BMN's past...it looks about reading to head up again soon?

Each time its dipped below into the negative or got near the zero line, it bounces upwards again

Heres hopeing hey


----------



## captjohn (11 May 2007)

champ2003 said:


> Professor Frink,
> 
> Captjohn knows that the share price went up. Re read his post and you might want to rethink what you wrote to him. He is referring to the share price of BMN going up from now as in higher than todays close.
> 
> ...



Boy oh boy ,I come home from a great night out  &.....joe blow & frink having a go at me!!!

Thanx champ.....seems like as soon as I post my interpretation of a situation ...all the "no alls "  come out of the woodwork!

Mostly they all shut up & never come up with any opinion about anything!!
then start quoting ASX trading definitions at me!!....you guys just look up 'cross trades 'on ASX definitions.....& then have a look at all the short & long trades & cross trades going on   ..on bhp rio all the banks etc...its "short to long positions" all the time!!...

And Professor Frink , please read my post properly before you rubbish me !  

"I said bmn has closed above its previous days high so it should go up !!!......O.K. 
Of course, the share price next week


----------



## nomore4s (11 May 2007)

lol, this is by far the most passionate thread on this forum. Even beats the "is there a god" thread hands down.

Well I hope it all goes well for the "BMN Brotherhood" and you all make a fortune, you all definately stick together that's for sure. I've seen footy teams that don't have this sort of passion, commitment & teamwork, lol.

Good luck all.


----------



## captjohn (12 May 2007)

nomore4s said:


> lol, this is by far the most passionate thread on this forum. Even beats the "is there a god" thread hands down.
> 
> Well I hope it all goes well for the "BMN Brotherhood" and you all make a fortune, you all definately stick together that's for sure. I've seen footy teams that don't have this sort of passion, commitment & teamwork, lol.
> 
> Good luck all.



Thanx nomore4s,

Well you're very astute with your observations & with good reason.
There are many of us that from early days.(a year or more)that realized bmn had top EPL's & location next to rio & pdn.
As the U price increased it made these tenements more viable & valuable ..Chris 1983,halba,nizar,myself & many others got in & hung on for the long term!

I researched bmn    & reckoned they will be the next paladin.(I once had 300,000 pdn for 10 cents & sold for 20 cents...) 

Last year I visited bmn's  office & spoke with staff.
I have a relly with carmichaels so heard whats what !!
Shhhh!!  can't tell ya too much!!

Since then I follow the charts like a hawk!!

I trade to sell a few on the highs & buy a few back on the lows.
Never can pick it perfectly but doesn't matter as always want get more shares.

So far I'm right on track...It's ASX 'best performing stock of the year' (to dec 2006)
The chart is IMO the 'perfect chart'.....that is, a stage 2 trending chart ...that is predictable with daily & weekly time frames.
Via metastock I watch weekly charts & predict the time to the next upswing!
It consolidates & allows the macd to retrace to the zero line.(5 times now in 12 months). Then sp increases 30-40ish% over a few weeks & then the cycle repeats itself!!

Experienced technical chartists will agree that charts do have their personalities.
Once you know the style or pattern its probable it will perform in the same pattern next time up the track!

I'll stop here coz I can feel Frink grinding his teeth ...(have a look at his avatar) 

P.S. 
Now hear this!!....Fundamentals are the driving force behind the sp.....this is the king !!

However technical analysis(charts) can indicate when sp is going up ....sideways & down to certain levels along way thru the journey in its life!!
havagoodweegend


----------



## doctorj (12 May 2007)

For any non-BMN holders reading this thread, it's a great example of the psychology of gambling, holding and hoping and confusing bulls for brains.

You'll note punters tend to look for any reason and hang their hat on it as a sign things are changing for the better.  First its a cross trade (which suddenly becomes someone covering their shorts ready for the alleged next run up... somehow - I don't follow that one, perhaps my universal translator is on the brink) then one C>O day being a sign something is going to come good.



			
				captjohn said:
			
		

> Shhhh!!  can't tell ya too much!!



Then people start claiming inside knowledge they more than likely don't have.


			
				captjohn said:
			
		

> Since then I follow the charts like a hawk!!... So far I'm right on track... It consolidates & allows the macd to retrace to the zero line.(5 times now in 12 months). Then sp increases 30-40ish% over a few weeks & then the cycle repeats itself!!



Then they claim to be able to predict the future and promise you REALLY LARGE RETURNS if only you follow their advice.


			
				captjohn said:
			
		

> However technical analysis(charts) can indicate when sp is going up ....sideways & down to certain levels along way



Then they talk absolute bollocks.

Technical analysis doesn't predict the future and doesn't try to.  This is exactly what happened during the last correction when all those who were long stopped using their brain and started trying to guess when the correction would end.  Folks, you have to wonder if for many posters on this thread if they trade to be *profitable* or if they trade to be *right*.  Sounds to me like they're trying really hard to be right.

And to those whom I've offended in this post, take solace in the fact you've provided a shining example on how not to manage an open position.  Forward complaints to [SIZE=-1]/dev/null[/SIZE]


----------



## Mousie (12 May 2007)

Having gotten up early on a Sat morn, can't help but help myself to a chuckle on this one. Great way to kick off the day if nothing else; thanks doctorj :


----------



## Punter (12 May 2007)

Here's punter ova here making meaningful fundamental analysis based on BMN's resource, and unfortunately trampled by lots of 'down ramping' from other people. Captn makes valid points and has a unique style. If you don't believe him fair enough. I concentrate more on the resource at hand, and fundamentals never lie. Its not about hoping. Its about whats there.


----------



## DAZT49 (12 May 2007)

Thanks for cheering up my morning boys. I wake up with lawn mowing and whipper snippering on my mind, log in, and its scratching and bitin an kickin.!!
I a long termer (got my shares from IPO) Like many on this forum I am in for the long haul ...with a nice little earner a couple of years down the track.
P.S. Dont worry Cap'n J ..your mum still loves ya.


----------



## nizar (12 May 2007)

doctorj said:


> For any non-BMN holders reading this thread, it's a great example of the psychology of gambling, holding and hoping and confusing bulls for brains.
> 
> You'll note punters tend to look for any reason and hang their hat on it as a sign things are changing for the better.  First its a cross trade (which suddenly becomes someone covering their shorts ready for the alleged next run up... somehow - I don't follow that one, perhaps my universal translator is on the brink) then one C>O day being a sign something is going to come good.
> 
> ...




Top post Doc.
Thanks for contributing.
I especially like what you written and i put it in bold, underline, italics.
Agree wholly with most of it.

Too many panickers on this thread.

You need to know what you are doing whether the share price goes up, down, or sideways.

Also - stop trying to explain everything. EVen if you explain it this time, doesnt mean the same cause will cause the same effect next time, and has no predictive ability. Share price movements dont need to have a reason, and even if there is a reason, it doesnt have to make sense. The market can remain irrational longer than you can stay solvent.

Leave the analysis to the analysts. We should just focus on trading.


----------



## chris1983 (12 May 2007)

nizar said:


> Top post Doc.
> Thanks for contributing.
> I especially like what you written and i put it in bold, underline, italics.
> Agree wholly with most of it.
> ...





Top post?  Lol.  Thats because you just trade SP movements.  Trading isn't the only profitable way to make money..we have spoken about this over and over..as soon as the SP drops the traders come out in force saying we should be trading the SP action.  Dont you guys get tired of advising us how to trade?  i mean I have had no worries making money doing my analysis.


----------



## Rob_ee (12 May 2007)

I Have only been trading for 4 months as I've said and never had the chance to obtain BMN at the lower prices that most of the fans here have.

As a non holder buying at TODAYS prices does not seem attractive to me for many reasons ... only have limited capital.. etc and so forth

Rob


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## chris1983 (12 May 2007)

Rob_ee said:


> I Have only been trading for 4 months as I've said and never had the chance to obtain BMN at the lower prices that most of the fans here have.
> 
> As a non holder buying at TODAYS prices does not seem attractive to me for many reasons ... only have limited capital.. etc and so forth
> Rob




Just in regards to limitited capital.  They look likely to sure up a resource at over 100 million pounds.  Work out the inground value for that at $120 a pound..Im sure you can do that   Operating costs are predicted at around $18-20 a pound for their deposit..we know this because operating costs will be very similar to the Rossing mine.

They have oppies being converted..they should still have a couple of mil in the Bank.  Also take note they are looking to list on the TSX and brokerage firms etc are trying to pursuade them over there.  Also recognise the small amount of shares on issue.  What is it..just over 110 million shares I think?  If they put 10 million shares on the market at 3.00 thats 30 million dollars without a huge dilution to our current holding.  Cash is definately not a factor to worry about 

BMN is an advanced explorer in one of the BEST positions to fast track a mine and actually start pulling in dollars.  they are in an excellent position with small amount of shares on issue and high SP.


----------



## captjohn (12 May 2007)

*The M.D. Peter Batten is interviewed &talks on *Boardroomradio.com  or you can access this discussion via  bmn reports on the  asx.

He spells out progress,scoping study then straight into bfs,&construction  etc.....plus facilities in namibia.....
Listen to it & love to hear opinions or critisims.


----------



## Go Nuke (12 May 2007)

chris1983 said:


> Just in regards to limitited capital.  They look likely to sure up a resource at over 100 million pounds.  Work out the inground value for that at $120 a pound..Im sure you can do that   Operating costs are predicted at around $18-20 a pound for their deposit..we know this because operating costs will be very similar to the Rossing mine.
> 
> They have oppies being converted..they should still have a couple of mil in the Bank.  Also take note they are looking to list on the TSX and brokerage firms etc are trying to pursuade them over there.  Also recognise the small amount of shares on issue.  What is it..just over 110 million shares I think?  If they put 10 million shares on the market at 3.00 thats 30 million dollars without a huge dilution to our current holding.  Cash is definately not a factor to worry about
> 
> BMN is an advanced explorer in one of the BEST positions to fast track a mine and actually start pulling in dollars.  they are in an excellent position with small amount of shares on issue and high SP.




I agree (for what its worth)
I too only started in the share market at the start of the year Rob. I have limited funds also. {Very limited I think compared to some people here}
But I First bought into SMM and AGS.
Now forget about AGS for the time being, but I bought SMM at $3.18.....which is about the same price that Bannerman is trading at these days. That was in Jan.
Look what happedned to SMM. I wouldn't be too phased at buying shares around the $3 mark. I know where your coming from...."you dont get many shares with limited money at $3/share" but sometimes it can pay off.

As Chris has stated, BMN has alot going for it, especially with the TSX listing I think and the amount of inground annomolies they have yet to drill.

Its your money Rob to do as you like, all im saying is...unlike say BHP for example, Bannermans SP will travel alot further that BHP's will. {Well for the time being RIO etc}

{Im sorry if i have broken any rules by posting my thoughts, I get a bit confused with what i can and cant do here sometimes }


----------



## Pommiegranite (12 May 2007)

chris1983 said:


> Just in regards to limitited capital.  They look likely to sure up a resource at over 100 million pounds.  Work out the inground value for that at $120 a pound..Im sure you can do that   Operating costs are predicted at around $18-20 a pound for their deposit..we know this because operating costs will be very similar to the Rossing mine.
> 
> They have oppies being converted..they should still have a couple of mil in the Bank.  Also take note they are looking to list on the TSX and brokerage firms etc are trying to pursuade them over there.  Also recognise the small amount of shares on issue.  What is it..just over 110 million shares I think?  If they put 10 million shares on the market at 3.00 thats 30 million dollars without a huge dilution to our current holding.  Cash is definately not a factor to worry about
> 
> BMN is an advanced explorer in one of the BEST positions to fast track a mine and actually start pulling in dollars.  they are in an excellent position with small amount of shares on issue and high SP.





The real question that everyone need to ask themselves is "how much of this is factored into th SP"?

Its a little like a football club paying top dollar for a 13 year old kid who obviously has more talent than seen in many a year. The kid with the right guidance should represent his country in the future...but there are pitfalls along the way.


----------



## chris1983 (12 May 2007)

Pommiegranite said:


> The real question that everyone need to ask themselves is "how much of this is factored into th SP"?
> 
> Its a little like a football club paying top dollar for a 13 year old kid who obviously has more talent than seen in many a year. The kid with the right guidance should represent his country in the future...but there are pitfalls along the way.




You think Bannerman is fully priced atm?  Well your allowed to have your opinion.  Investors thought Paladin was fully priced when they were at $2.50.  I advise you to do some research into peer comparisons comparing resource sizes etc then you come back to me and tell me if you still believe Bannerman is fully priced.  You can go compare to uramin/forsys even Paladin.  Paladin are producing now but go back to when they were also getting their mine ready for development.  Also take into consideration the rising spot price for uranium and on going demand.  Best of luck with your research.


----------



## Punter (12 May 2007)

chris1983 said:


> You think Bannerman is fully priced atm?  Well your allowed to have your opinion.  Investors thought Paladin was fully priced when they were at $2.50.  I advise you to do some research into peer comparisons comparing resource sizes etc then you come back to me and tell me if you still believe Bannerman is fully priced.  You can go compare to uramin/forsys even Paladin.  Paladin are producing now but go back to when they were also getting their mine ready for development.  Also take into consideration the rising spot price for uranium and on going demand.  Best of luck with your research.




How can it be fully priced considering the exploration targets I have provided (from the presentation). The BMN license is ONE of the most prospective if not THE most prospective license in the entire country(with Rossing). We have historical drilling to 7km of strike. this is a massive deposit that is unfolding slowly. They have repeat structures 2-4km big. This is huge, considering the strike extents. lots of juniors are peddling low strike lengths 500m 200m strike length(e.g. PNN, CUY) but no one has monsters like BMN.


----------



## nizar (12 May 2007)

chris1983 said:


> Top post?  Lol.  Thats because you just trade SP movements.  Trading isn't the only profitable way to make money..we have spoken about this over and over..as soon as the SP drops the traders come out in force saying we should be trading the SP action.  Dont you guys get tired of advising us how to trade?  i mean I have had no worries making money doing my analysis.




Chris im still holding mine.
The difference is, if the share price drops to below $3 (closing price) then i will sell.
You will hold until 50c hoping for a bounce.
Correct?

My post wasnt directed towards you but rather towards every1 panicking on this thread.

Theres no reason to panick, BMN is still trading above its long term trendline. Longterm chart says UP.

You say you dont care about the share price but why are you and others constantly trying to explain it?
BMNs share price will take care of itself, and if not, well thats what the exit strategy is there for.
Maybe you dont care about the share price, but rememeber, you only make money if the shareprice has gone up.

Of course you know this coz youve made PLENTY.

Your a legend i got nothing against you and iv publically declared you are a CHAMPION in several forums.


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## Pommiegranite (12 May 2007)

chris1983 said:


> You think Bannerman is fully priced atm?  Well your allowed to have your opinion.  Investors thought Paladin was fully priced when they were at $2.50.  I advise you to do some research into peer comparisons comparing resource sizes etc then you come back to me and tell me if you still believe Bannerman is fully priced.  You can go compare to uramin/forsys even Paladin.  Paladin are producing now but go back to when they were also getting their mine ready for development.  Also take into consideration the rising spot price for uranium and on going demand.  Best of luck with your research.





err....no i don't think its fully priced . What gave you that impression?

I think it is important to look at the SP when buying in....just so you can gather more shares 

The week before last I bought AGS at $2.30, which I believed to be borderline value.  I sold at $2.80 and then bought back at $2. 

I'm not a day trader but do recognise the value of using judgement when looking at an entry points.

p.s...I just double up at $3.20 due to my intrigue of the unknown.


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## captjohn (12 May 2007)

Go Nuke said:


> I agree (for what its worth)
> I too only started in the share market at the start of the year Rob. I have limited funds also. {Very limited I think compared to some people here}
> But I First bought into SMM and AGS.
> Now forget about AGS for the time being, but I bought SMM at $3.18.....which is about the same price that Bannerman is trading at these days. That was in Jan.
> ...




Yes very well put ,Nuke.......its the profit you make !!.& the risk you take to get it...thats what this is all about ...or leave it in the Bank!!

So lets play spot the difference....
  An Investor;  lets call him Mr.Bunny has $20,000 .

Option 1. 
New ish float explorer for U3o8

  Buy 100,000 shares @20 cents=$20,000
(Gee ,only 20 cents & could go up to be pdn or ags or mtn etc)

             sp doubles in 6 months =$20,000 "profit"

Option 2.
bmn      6700(approx)shares @$say,$3.30=$20,000

        sp doubles in 6 months =$20000  "profit"

The big difference for risk here is that bmn now has top fundamentals(like ags,mtn,smm,pdn etc) that will rebound the sp after a correction...    The new float ....hmmm??...many will fade away in time....&a drop to 10cents a share is half ya $$$$gone!!


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## chris1983 (12 May 2007)

nizar said:


> Chris im still holding mine.
> The difference is, if the share price drops to below $3 (closing price) then i will sell.
> You will hold until 50c hoping for a bounce.
> Correct?
> ...




haha Niz.  No legend mate.  You pick just as many winners as myself you just dont hold long..which is your method of trading.  Your an investor just like myself but with different methods.  They really shouldnt fall below $3 though..I mean what if it broke the trend just because of further downturn in the uranium sector.  Then you would sell..you even said to me once via PM you can get false break ups..cant you also get false break downs?  Nothing released by Bannerman has been negative..only positive...so your right I would continue to hold even if it broke under $3.  We have seen BMN rise $1 in the period of a week.  It might dip quickly under $3 then rise all the way up to $4.  I mean I have seen the SP go up and down in the past 2 weeks..but it doesnt bother me..which is why I havnt been posting as much..well I think I havnt been posting as much  Its just another boring period for BMN to consolidate.  I actually thought when they put out their resource estimate we would get above $4 but I still believe they will.


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## Punter (12 May 2007)

You can clearly see anomaly A the drilling area in this slide. but you see so many drill hits to the north. I'm willing to bet these continue to 350m as well. we are talking not *a few million pounds* but *hundreds of millions of pounds long term* considering the extension possibilities.


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## Rob_ee (12 May 2007)

chris1983 said:


> Just in regards to limitited capital.  They look likely to sure up a resource at over 100 million pounds.  Work out the inground value for that at $120 a pound..Im sure you can do that   Operating costs are predicted at around $18-20 a pound for their deposit..we know this because operating costs will be very similar to the Rossing mine.




Actually I can't .. just a meaningless lot of numbers to me as you probably surmized, hence the  

The enthusiasm and confidence here is truly amazing.
I am tempted to sell out my WMT holding first thing Monday and plonk my entire capital $17k ...I told you it was limited, on BMN.

5000 shares, hold for 1 month till gets to $4 and then wait a few years and sell the lot for $10-$20 

After all with so much confidence and exubarence on this stock I can't possibly go wrong.
Pity though I wasn't trading when they were 10c or am not the recipient of the millions of sub 10c options, then I could sit here basking with a warm fuzzy feeling inside.

After all Mr Darvas turned a mere $10 grand into $ 2,000,000 so that gives me something to aspire to.

Rob


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## Logique (12 May 2007)

This thread is so entertaining, it's worth owning BMN for the price of admission. 

You're probably feeling a bit weather-beaten Captain, but don't forget, the entire fleet is in these wind doldrums, not just BMN. The crew got a bit restless and prickly, that's ok, a fair wind and we'll jump to the sheets and off again. No fair weather sailors on SS Bannerman.

Translation, technically, a huge number of stocks are exactly where BMN is now. Plenty of them to panic about. BMN has given us no reason to do so.


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## chris1983 (12 May 2007)

Rob_ee said:


> Actually I can't .. just a meaningless lot of numbers to me as you probably surmized, hence the
> 
> The enthusiasm and confidence here is truly amazing.
> I am tempted to sell out my WMT holding first thing Monday and plonk my entire capital $17k ...I told you it was limited, on BMN.
> ...




Its not meaningless numbers.  I just cant be bothered continually writing it up again.  I think if you go back through the thread you can find it though.  Ive done enough research for myself.


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## Pommiegranite (12 May 2007)

chris1983 said:


> Its not meaningless numbers.  I just cant be bothered continually writing it up again.  I think if you go back through the thread you can find it though.  Ive done enough research for myself.




Lets not talk numbers then...

what does everyone reckon...bigger than Paladin...or even Rio?

BMN's fields to be more productive than LH or even Rossing 

Capn/Chris..you guys are the most in the know about findamentals...what do you think?


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## Punter (12 May 2007)

Pommiegranite said:


> Lets not talk numbers then...
> 
> what does everyone reckon...bigger than Paladin...or even Rio?
> 
> ...




Rossing is over 350mT actually. It doesn't look at "wide" as rossing in terms of strike length. But in terms of depth it is as deep. 

*Current open pit at Rossing is approximately 5kms long, 500 metres wide and 350 metres deep.* Source: xemplar energy latest news release www.xemplar.ca

Overall Anomaly A: *7000m by 100m to 350m deep* - currently drilling only 1700m length. Rossing appears to be 5 times wider. However Anomaly A looks a tad bigger than Rossing's pit. Not to mention there are other anomalies around. So initially I don't expect to get close to Rossing, but in time yes.


----------



## Pommiegranite (12 May 2007)

Punter said:


> Rossing is over 350mT actually. It doesn't look at "wide" as rossing in terms of strike length. But in terms of depth it is as deep.
> 
> *Current open pit at Rossing is approximately 5kms long, 500 metres wide and 350 metres deep.* Source: xemplar energy latest news release www.xemplar.ca
> 
> Overall Anomaly A: *7000m by 100m to 350m deep* - currently drilling only 1700m length. Rossing appears to be 5 times wider. However Anomaly A looks a tad bigger than Rossing's pit. Not to mention there are other anomalies around. So initially I don't expect to get close to Rossing, but in time yes.





BIG CALL Punter. Oh well...you are the guys in the know.

Has anyone done a rough budgeted P&L for lets say the next 5 years?

One thing having the resources in the ground...but turning that into massive profits, I'm assuming may take a while.


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## the barry (12 May 2007)

Pommiegranite said:


> BIG CALL Punter. Oh well...you are the guys in the know.
> 
> Has anyone done a rough budgeted P&L for lets say the next 5 years?
> 
> One thing having the resources in the ground...but turning that into massive profits, I'm assuming may take a while.




You have to remember that they are currently drilling 1.5 kilometers of a 38 kilometer target area. Odds are we will all be long gone before the life of the mine comes to an end. Also, hopefully very rich.


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## BSD (12 May 2007)

Everyone who even contemplates a ‘real’ value of BMN shares on this forum (rather than a trend/hope/pattern), tends to offer RELATIVE values compared to other Uranium hopefuls. 

Relative value (as opposed to absolute value) works until reality sets-in and uranium shares are treated like any other bare bum in the shower. 

Absolute value is what makes money regardless of prevailing sentiment. The day will come where investors see uranium as just another commodity. 

Sentiment is fleeting, but absolute value is real. 

Most posts here are focussed on U308 staying at $140+ forever. 

Using in-ground value to work out a comparison is bullsh!t - it is even worse when the grade is as low as the current BMN grade.

The lower the grade the greater the capex and the greater the dilution. 

Comparing with other projects of different commodities but equivalent grade allows for real comparisons - digging low-grade uranium out of the ground pretty much costs the same as any other metal. 

As noted in a previous post, BMN has an equivalent inferred copper resource of 55mt at 0.80% grade for a $3.7bn inground value and it is supporting a $400m cap.

Some on the forum have noted that BMN could have a "potential" resource of 100 million pounds. 

This is valued at around $15 billion in the ground using a $150lb U price

Well, who cares? 

It isn’t even a resource yet - let alone a bankable reserve. It would take many years to actually delineate such a resource. 

Indophil Resources (IRN) has a 32.5% holding in a copper/gold resource called Tampakan that has a resource of 2Billion tonnes graded at 0.6% copper and 0.23g/t gold. 

At spot prices that resource is worth $105 Billion in ground in total and $34billion to IRN

So the in ground value of IRN's resource is worth well over double BMNs 'potential resource' of 100m/lbs as identified by someone on this forum. 

IRN has a completed pre-feasibility study and is in the process of a full BFS being completed by the partner Xstrata

Xstrata have the $$$ to finance the development. 

IRN is currently capped at $340 million 

BMN is currently capped at $310 million (excluding oppies)

IRN is realistically expecting to produce somewhere around 2011 - BMN is dreaming of something similar

The lower the grade, the bigger the mine, the bigger the capex, the longer the feasibility, the greater the discount to future cash flow. 

Please don't refer me to Rossing. 

Rossing is owned by a company called Rio Tinto - they are not faced with the *dilution * required to raise the US$750m required to mine a large *low grade* deposit like that BMN could have secured. 

Nobody has mentioned how BMN will finance this potential mine. How much debt and how many shares has anyone assumed to be required?

Nobody has noted that bankers will use $60 (or less) as the assumed U price before lending - they are still using $1.20/lb for Copper. 


Nobody has contemplated the relative value in comparison to the absolute value - they are too focussed on momentum 


I checked out the respective broker market share in BMN over the last two months. 

The two big retail brokers represented 43% of the trade in BMN, the biggest insto is from offshore and has less than 1.5% of turnover and the biggest local insto ranked 18 and was actually short 100,000 shares. 

Large insto brokers are non-existent in this stock


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## Pommiegranite (12 May 2007)

BSD said:


> Nobody has mentioned how BMN will finance this potential mine. How much debt and how many shares has anyone assumed to be required?




Interesting point.

Anyone have any comments on how BMN plans to fund this mine?

I'm sure there must be something mentioned somewhere by Bannerman.


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## Punter (12 May 2007)

When I see people piddling over the funding figures something is utterly wrong in this forum. Just consider the deposits for now. No one cares about funding at this early stage, and everyone knows in the modern world heaps of options to explore with regards to funding.

So far from the presentation

Other potential deposits are:

""OMBUGA" 

2km anomaly 1

2km Anomaly 2

""Rossingburg 13""

4km long Anomaly 3

""Ombepo"

2km long Anomaly 4

""Onkelo"

1.2km anomaly 5

3km anomaly 6

""Rossing position""

?unknown? Anomaly 7

"Ombo"

Anomaly 8 2km+

So potentially another 8 deposits not including 7km long anomaly "a". Total strike length including anomaly A is

7km+2km+2km+4km+2km+1200m+3km+2km

Total = ~25km+

This should keep them going for several years(and keep shareholders going for ages too!)

Total potential deposits are 100m wide, and 25km+ long

So total 25,000*100*2.6*300m deep = 2 billion tonnes of material++

Why people worry about a few piddly c here and there, piddling over what the last cross trade was about; consider the exploration potential. Not to mention the other anomalies on BMN's tenement have a higher radiometric count than "anomaly A" suggests the others could even be better than Anomaly A.

This is the next FMG. You heard it so many times from me, and chris and captn.


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## the barry (12 May 2007)

Every thread I've seen BSD post in it's content has been negative. Every stock on the ASX is a dog according to him.

Last time he was posting on this thread he was pointing out how long it would take to get the mine to production.That we were dreaming thinking it would be within 5 years.hmmm

Now he's on on about getting it funded.

No doubt he'll be back in a couple of months again finding some other crap to prattle on about.


----------



## captjohn (12 May 2007)

Logique said:


> This thread is so entertaining, it's worth owning BMN for the price of admission.
> 
> You're probably feeling a bit weather-beaten Captain, but don't forget, the entire fleet is in these wind doldrums, not just BMN. The crew got a bit restless and prickly, that's ok, a fair wind and we'll jump to the sheets and off again. No fair weather sailors on SS Bannerman.
> 
> Translation, technically, a huge number of stocks are exactly where BMN is now. Plenty of them to panic about. BMN has given us no reason to do so.




Thanx Logique,......

Yes, Arghhh!!...I tell all me crew how I do things & some last nite tried to make me walk the plank !!
When sp is in the doldrums they all turn on one another & start to mutiny....
Monday morning the trade winds from the U.S. will get the  good ship S.S .Bannerman underway again. 

"I'm not always right but never wrong!"....as long as everybody is happy !!


----------



## stockGURU (12 May 2007)

BSD said:


> Nobody has mentioned how BMN will finance this potential mine. How much debt and how many shares has anyone assumed to be required?




So is any BMN supporter here going to actually answer this question?

I, for one, would like to know.


----------



## Punter (12 May 2007)

stockGURU said:


> So is any BMN supporter here going to actually answer this question?
> 
> I, for one, would like to know.




Why don't you kindly ring up Bannerman themselves? How can anyone answer this question? Such information is going to come AFTER the bfs.
Thats what a Bankable F. Study is for. Are you new here Stockguru? Please don't get turned off about the prattle on the costs for a mine. Those posters are called 'downrampers' trying to play down the stock for whatever motives they have. If you like the assets(which i have showed clearly) you know what to do. Its freely available on the market, people can buy it or choose not to buy it. Its that simple.


----------



## nizar (12 May 2007)

Rob_ee said:


> After all Mr Darvas turned a mere $10 grand into $ 2,000,000 so that gives me something to aspire to.
> 
> Rob




Hi Rob,
I suggest you have a look at Ed Seykota's record.
5k to 15mil in 12 years.
He trades purely mechanical.


----------



## Rob_ee (12 May 2007)

nizar said:


> Hi Rob,
> I suggest you have a look at Ed Seykota's record.
> 5k to 15mil in 12 years.
> He trades purely mechanical.




Thanks Nizar, that name is not familiar of hand so I'll look it up.. love to read about the great traders.

Iroically Mr Darvas made his millions when he went on the road dancing and the coat tuggers and whisperers couldn't get to him to confuse him with their passions and enthusiasm about certain stocks .

The one time when he went to NY and subscribed to stock tip news sheets and got expert analystst to give him tips is the time he went almost broke.

The same thing happened to Jessie Livermore (my favorite) when he lost millions and went broke after becoming infected by advice from his good friend the Cotton King. When he didn't listen to advice and followed his judgement was when he was most succesful.

I have come to the conclusion that reading what other people think and no matter how good their intensions may be taking part in this type of thread can become a dangerous thing.

Rob


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## Caliente (12 May 2007)

hmm - the way I see it from the BRR audiocast - we are all going to just have to wait until the end of the year - when they will release the final measured/indicated/inferred resource figures. 

Then, we wait another year for BFS.

Then we wait another 2-3 years for cons/dev

Then we have the next *insert big miner here*

So everyone just sit back and relax while it unfolds...


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## chris1983 (13 May 2007)

the barry said:


> Every thread I've seen BSD post in it's content has been negative. Every stock on the ASX is a dog according to him.
> 
> Last time he was posting on this thread he was pointing out how long it would take to get the mine to production.That we were dreaming thinking it would be within 5 years.hmmm
> 
> ...




BSD do you own IRN?  IRN look decent but after the Lafayette fiasco im staying away from the philippines.  Im half filipino and I would never put trust in the government there.  Way too corrupt.  Plus the area IRN are in has troubles with religious groups etc etc.  Those kind of issues arent faced in Namibia.  

Bannerman have started their scoping study and once this is completed it will enable them to fast track to production by skipping the pre feasibility and feasibility studies.

Rossing is a similar deposit to BMN and they have operated for 31 years and previously depressed uranium prices.  It supplies 8% of the worlds uranium.  The Goanikontes deposit will be a huge mine.  Drilling will continue to the end of the year where a finalised resource estimate will be released.  They plan the bankable feasibility to begin at the start of 2008 and plan first production to begin some time in 2010.  It really isn't too far away.  The final resource estimate will approach very quickly and then we would be starting the bankable feasibility.  Its an exciting time for Bannerman.

In regards to their capital position.  In the boardroom radio discussion Peter Battern comments on Bannermans capital position.  He states the company has 147 million shares fully diluted with directors options etc etc.  All of the options are in the money so thats why they just give the fully diluted amount of shares on issue.  He mentions by the end of the year they will still have 2 million at bank.  So thats good to know.  They dont need to dilute the company further just yet to raise any funds.

Its all looking pretty good to me.


----------



## UraniumLover (13 May 2007)

the barry said:


> Every thread I've seen BSD post in it's content has been negative. Every stock on the ASX is a dog according to him.
> 
> Last time he was posting on this thread he was pointing out how long it would take to get the mine to production.That we were dreaming thinking it would be within 5 years.hmmm
> 
> ...




People like this are normally the result of a trade gone bad and are now spooked big time. They probably can't even trade a profit.  
 The Mine is in Nambia with a massive Deposit. I'm still shocked Aust investors haven't taken this higher. The Canadians will make us look silly once it goes on TSX   .


----------



## Pommiegranite (13 May 2007)

UraniumLover said:


> I'm still shocked Aust investors haven't taken this higher. The Canadians will make us look silly once it goes on TSX   .





1000%+ over the past year or so isn't to shabby in my eyes 

I guess BMN has reached a plateau due to the amount of time still remaining to production (3 to 4 years).

I'm think huge exponential growth is out of the question from this point forwards. However, I still expect/hope to see 200%+ a year from here on in.

Of course this is entirely my own opinion and I could be talking out of my rear.


----------



## BSD (13 May 2007)

Thanks for the deep analysis guys - must have taxed you greatly. 

Barry, if you go and look at threads on BHP, EQN, MMX you may find some of my views that have been very positive and very profitable. 

I can also rest UraniumLover's mind at ease and confirm that I trade very profitably and am not suffering from a fear. 


I happen to think BMN has a bit of potential. Mining shares typically fly high on initial discovery - before getting very stale into the drilliing, scoping and feasibility spikes. Financiing and building are another two periods where the stocks die on the vine. 

The current price action is typical of a miner post discovery and pre feasibility. 

When you remove the uranium hype and compare to similar sized/valued resources, BMN is overpriced. Nobody has refuted this fact. I extrapolated to use 100 million pounds and it still looks pricey when compared to similar low grade projects. 

The TSX listing may give it some legs - but I would assume some dilution will occur. 

I held BMN for its takeover attractiveness for RIO or PDN. But sold when the grades were so low. RIO could develop this thing with its petty cash - BMN is going to need a massive amount of new equity and a large debt facility requiring a lot of feasibility. 

http://www.indophil.com/timetable.htm

The banks wont assume $150 U price five years out.

Sorry about 'prattling' Barry - I am sure it hurts your small mind


Chris - I dont own any IRN. I used it as an example because of its similar Cu equiv grade to BMN. I have contemplated investing in IRN, but dont like the low grade, location and feel that Xstrata may be in no hurry to develop the resource. It is a monster though. 

BMN will not be able to borrow the hundreds of millions required to build a large low grade mine without a feasibility study. 

$2m doesnt last long and pre-feasibility can cost $20 million. 

I am actually surprised they haven't tapped the market yet.


----------



## nizar (13 May 2007)

BSD, while we dont always agree, is quite knowledgeable i reckon and knows what hes talking about.

BFS and mine construction will cost $$$ but note that PDN were in the same position about 3 years ago and look at the share price 

BMN, i suspect will have to hedge uranium prices to get some of the funding they require. Chris and others will say they wont because management are tops or whatever, but Borshoff is no fool and PDN seems like were forced to hedge or else he wouldnt have, hes been a permabull from the very start.

Im in for the ride though, as long as the share price behaves itself, and itll be interesting to see what happens....


----------



## Punter (13 May 2007)

BSD said:
			
		

> happen to think BMN has a bit of potential




Thanks for your wise words of wisdom!



			
				BSD said:
			
		

> when you remove the uranium hype and compare to similar sized/valued resources, BMN is overpriced.



 Doesn't correlate with earlier quotation. Is this a deliberate attempt to downramp i smell?

Please justify your comment re: overpriced. You have not made any meaningful analysis here.



			
				BSD said:
			
		

> http://www.indophil.com/timetable.htm




Not sure, why are you using a copper company in Philippines to justify your point? Your analysis breaks down.



			
				BSD said:
			
		

> Sorry about 'prattling' Barry - I am sure it hurts your small mind




Personal attacks on this forum? Leave barry alone. 

Don't know where u get figs from. It seems you have a vendetta against the stock. You have downramped it in the $1s and $2s. Now trampling on it "whilst it is down". Good on ya. Please kindly take your comments to a forum like Hotcopper - where i'm sure the downrampers there will have a field day. 

Adios amigo.


----------



## BSD (13 May 2007)

I have justified my opinion concerning the excess valuation by comparing the market cap of BMN to two different projects with reference to in-ground value and similar economic grades. 

It costs as much to get a tonne of ore out of the ground if it contains $1000 of uranium as it does copper when they are of similar comparitive grade. I even used someone's 100m/t 'assumption' as a resource. 

I posted a link to the IRN site to give some people who believe such a monster can produce in three/four years an idea of the timeframe and costs involved in building a massive mine. 

This is meaningful analysis. I cannot understand why you do not feel it relevent. 

If a 'downramp' (WTF?) is having a different opinion - then I am guilty. I couldnt care less if you actually believe my opinion is going to affect the value of your investment. 

I come here to discuss stocks, not to sit around willing prices higher by exchanging three sentence rev-ups with no basis.  

I bought this stock around $2.60 (and exited at $3.40 when the low grades were announced) so please don't say I was negative at $1 and $2 - that would be lying. 

As for Barry - he will be OK, having noted my penchant for prattling cr@p, he surely isnt too worried about insults.


----------



## jj0007 (13 May 2007)

BSD said:


> Nobody has mentioned how BMN will finance this potential mine. How much debt and how many shares has anyone assumed to be required?
> 
> Nobody has noted that bankers will use $60 (or less) as the assumed U price before lending - they are still using $1.20/lb for Copper.




BSD I think your mind has gone into overdrive and you are asking questions that applies to all explorers across the entire mining industry whether it be gold, copper, silver, nickel, lead, zince, uranium etc.  Whilst your concerns are valid, if you believe it is too risky to invest in explorers because those factors are unknown......then maybe the resource spec market isn't for you.  (no offence intended)

With regards to financing it will come from one of 3 areas:

1)  "The Market" i.e. Shareholders, institutions, sophisticated investors aka mates.
2)  Business Partners i.e. JVs, Offtake partners
3)  Banks

Banks are probably the least preferred as they will most likely make you hedge some component of your production if you take out a substantial loan.

Still lots of unknowns at this stage and the risks are still high.  Lets see what the feasibility studies say.  If it was as simple as comparing to other "low grade" resources then companies would not need to spend 3 months doing scoping studies and 12-18 months doing feasiblity studies 

We are in a boom market and raising 40-50m is very possible.  Look at AGM.  "Low Grade" nickel but shareholders aren't even given a sniff to participate in capital raisings.


----------



## BSD (13 May 2007)

jj0007 said:


> BSD I think your mind has gone into overdrive and you are asking questions that applies to all explorers across the entire mining industry whether it be gold, copper, silver, nickel, lead, zince, uranium etc.  Whilst your concerns are valid, if you believe it is too risky to invest in explorers because those factors are unknown......then maybe the resource spec market isn't for you.  (no offence intended)
> 
> With regards to financing it will come from one of 3 areas:
> 
> ...




Thank you for a reasonable response JJ.

I totally agree that the risks involved apply to all juniors - but most juniors are not capped at $450 million

I play a lot in the resource space and have ridden multiple stocks from scoping to production. It takes forever and the ride is often boring and not 100% vertical - this is my point. 

I agree with your financing options. I also note that if such a low grade deposit is to be feasible - the scale will be massive. Guys on here have highlighted the potential scale of the resource (that is the cool part of BMN). 

Massive scale means capex of hundreds of millions and to get the hundreds of millions required, bankers (unfortunately) will be required and they will want feasibility, hedging and limited unknowns.

BMN could easily raise $50m by issuing equity at the moment, just to pay for the feasiblity and I am surprised this hasnt been done yet. This company will not have 150m shares on issue for very long. 


Allegiance has a 10mt resource at 1.14% Ni. As a sulphide with Ni prices where they are this is not low grade 

At current uranium and nickel prices, this grade is over six times better than the current BMN resource. 

BMN would need to process six times as much dirt to extract the same $$$ value as AGM needs to.


----------



## captjohn (13 May 2007)

UraniumLover said:


> People like this are normally the result of a trade gone bad and are now spooked big time. They probably can't even trade a profit.
> The Mine is in Nambia with a massive Deposit. I'm still shocked Aust investors haven't taken this higher. The Canadians will make us look silly once it goes on TSX   .




The more I read about Canadians & uranium companies on their TSX....I reckon "Uranium Lover" is spot on!! 

Just look at the  the timing coming up near years end!!  

BMN will be TSX listed Sept-ish ......then  the final estimate of all resources...  then BFS starts...

The aussie media & magazines will blow this up pretty big especially if resources are 100 plus million pounds

It'll be hailed "The next Rossing & paladin combined" etc
and with the mine producing U308 in  2010 !!! Wowie..... well before the Aussie similars!!
....the market will be positive to get  onto the good ship S.S. bannerman with Capt. 'Yellowcake' !!


*The canadians/U.S. big fund investors will be falling over themselves to lend  bmn  $$$$ to build the mine!!*(in exchange for discounted shares...of course ...business is business.

The more I read the latest company presentation...I get excited about the future prospects for this very progressive uranium company!!... 

P.S.      next year I'm planning a visit to Swakopmund to check it all out.....wanna come & bring your own geiger counter & shovel..   hahaha 

happy mothers day


----------



## Captain_Chaza (13 May 2007)

Ahoy Capt John

You refered to 2 options in a previous posting
Option #1 $ 20.000 invested on the BNM
Option #2  $20,000 on a new float

There are however an infinite no of other options/sails when sailing upon the merciless ASX

Not only that BUT a skipper can hoist a combination of sails to help spread the risk
It is folly to to fall in love with any sail and put all your eggs in one basket

A quick survey through the charts by any novice sea-cadet would see that there are are umpteenth combinations and spreads of sail that could beat the BMN this week 
IMO

I draw your attention to NINE such sails are are finding wind to varying degrees

Weighting each one individually is a problem but this can be done with a little thought and research

IMO as it stands at the monent  all will beat the HMAS BMN in the short term but maybe a combination of a good spread of sail is the way to go?

As most of us yachties never seem to have enough money for the LOT
(Excepting for those who can put all their money on ONE mast)

I offer the idea of Hoisting any one or combination of any of the 9 sails to outperform the BMN this week

"BMN vs 9" (this week) 

My  9 for this week are :
PDZ  III  CSE  NGM  PDM  TNG  CMO  ARE  KTL

Bon Voyage and Gods' Speed


----------



## Pommiegranite (13 May 2007)

Captain_Chaza said:


> Ahoy Capt John
> 
> You refered to 2 options in a previous posting
> Option #1 $ 20.000 invested on the BNM
> ...




excellent point!!..althought you missed one more...BOM. Announcement due tomorrow on the back of a TH. Could be real big!!

I'm thinking of takin a couple of week's shore leave from BMN. I hope you don't set sail without me.


----------



## jj0007 (13 May 2007)

By the way, according to EXT's recent presentation, Forsys is predicting production costs of $22/lb from the Valencia mine.  (Still to be confirmed with feasibility study)  Take note that the cut off grade used by Forsys for Valencia is 80ppm.  No talk of capital costs so thats anyone's guess.


----------



## chris1983 (13 May 2007)

nizar said:


> BSD, while we dont always agree, is quite knowledgeable i reckon and knows what hes talking about.
> 
> BFS and mine construction will cost $$$ but note that PDN were in the same position about 3 years ago and look at the share price
> 
> ...




Why do you assume what I would think nizar?  I think hedging is a high possibility.  Hedging at current prices wont hurt this stock though.  Look at what prices PDN hedged some of their uranium at.  

Management have stated they will skip pre feasibility and feasibility to fast track to production.  Thats all I need to know.  BSD you say they wont have 150 million shares for long.  Well I tell you they wont get up to the same amount of shares on issue as Paladin.  If any funding etc etc is needed they dont need to release many shares to raise some cash.  There wont be any shortage of investors either.  To even raise that 50 million you state..say at $3 per share would put an extra 17 million shares on the market.  Thats not to shabby.  If you would have some issues in regards to that much dilution..well hey..I dont know what would make you happy.



BSD said:


> Massive scale means capex of hundreds of millions and to get the hundreds of millions required, bankers (unfortunately) will be required and they will want feasibility, hedging and limited unknowns.
> 
> BMN could easily raise $50m by issuing equity at the moment, just to pay for the feasiblity and I am surprised this hasnt been done yet. This company will not have 150m shares on issue for very long.


----------



## captjohn (14 May 2007)

Captain_Chaza said:


> Ahoy Capt John
> 
> You refered to 2 options in a previous posting
> Option #1 $ 20.000 invested on the BNM
> ...




Thanx capt chaza,

I agree, in fact there are probably 99 that have performed better than bmn for three weeks now .

However,I was really talking about the "risk" factor now coz fundamentals for bmn are confirmed & .....

If (for example) I was to put my house on bmn or on a speckie (new float),I would sleep better with being on bmn (or,mtn,ags,smm)!!....and when we have a major correction ;  bmn & others would rebound & the 20 cent speckie may not!!....That's all I'm saying!!

And by all means as you said most investors  should "diversify,or spread" to minimise the risk of one or two going to the wall!! 

I've been there ..done that...

& last May I sold off 15 junior miners & plonked it all into bmn after visiting the company....(my  friends said I was crazy)  I've had fingers crossed & have only uncrossed now that resources are confirmed.

I've been lucky ....the chances of finding another bmn in the 50 cent jungle ...Hmmm...I couldn't do it again . 

On the other hand Capt.Chaza ...the 50 centers you selected can double or treble in a heartbeat.....it's all good trading opportunities....Arghhhh!!


----------



## captjohn (14 May 2007)

Ya capt. is following his own advice...

I sold out of ero & topped up on       bmn & ern.... 
so there!!


----------



## bliimp (14 May 2007)

Mention has been made in this forum about the imminent listing of BMN on the TSX in Canada.

This will be excellent for Bannerman, but perhaps just as importantly, refer to an interesting article in StockInterview.com .... titled "_Wall Street Could Soon Rush into Uranium Mining Stocks_"

Refer to http://www.stockinterview.com/News/05142007/Wall-Street-Uranium.html

To quote StockInterview _"While NYMEX uranium futures aren’t really having much of an impact on the uranium price or transparency thereof, it has attracted Wall Street’s eyeballs. And with this interest, investment funding should likely find its way into uranium mining sector"._

StockInterview goes on a bit about "educating" the Americans about what uranium is _("many U.S. analysts and stockbrokers couldn’t even spell the word ‘uranium’ six to twelve months ago") _but also goes on to say, 

_"We believe Wall Street firms are unlikely to finance the horrific number of exploration companies lacking substance, promising property and/or technical expertise. Most don’t really have a game plan. StockInterview’s primary focus has been upon those companies which are highly likely to mine U.S. uranium by the time the HEU-LEU agreement expires in 2013. Those will attract the most interest from Wall Street. Exceptions could be those with promising projects in Namibia (which is now being over run by uranium exploration companies) and one or two other places. The rest could fall by the wayside in blink._

So, really, I deduce a couple of positives coming out of all this for BMN

1. From ASX to TSX to Wall Street interest !!!

2. BMN not to be confused with "the horrific number of exploration companies lacking substance, promising property and/or technical expertise"

Just another interesting perspective of where BMN may be heading in the next 12 months ......... as the story continues and continues to unfold!!!


----------



## doctorj (15 May 2007)

Pare, tigilan mo na yang sobrang pag-exaggerate, di naman sigurado ang success, mas mabuti kung mag-share ka ng mas balanseng analysis.

Naiintindihan mo ba?


----------



## chris1983 (15 May 2007)

doctorj said:


> Pare, tigilan mo na yang sobrang pag-exaggerate, di naman sigurado ang success, mas mabuti kung mag-share ka ng mas balanseng analysis.
> 
> Naiintindihan mo ba?




So who is that targeted at doctorj?  I know what you said.  You should write in english for others to understand


----------



## chris1983 (15 May 2007)

I dont think I'm exaggerating if your referring to my posts.  I have picked BMN from the beginning and I feel very sure for their success in the future.  I mean you cant pick a stock once it has already been successful...that means you never picked it to begin with.  You have to pick a stock when it is leading up to being a successful operation and Bannerman have progressed everything thus far in a very positive manner and have a bright outlook to the future.


----------



## doctorj (15 May 2007)

I'm just messing.  We mods need to have fun from time to time 

I'm glad it made sense.  Chill


----------



## chris1983 (15 May 2007)

doctorj said:


> I'm just messing.  We mods need to have fun from time to time
> 
> I'm glad it made sense.  Chill




Well if your messing we are all good then   I figured you were talking to me cos I said I was half filo.


----------



## captjohn (15 May 2007)

chris1983 said:


> Well if your messing we are all good then   I figured you were talking to me cos I said I was half filo.




Good onya chris,between you & my Thai wife she worked out the doc's post!  Loosely translated;  "He wants more Ramping" while kennas is away. hahaha!!


----------



## captjohn (15 May 2007)

bliimp said:


> Mention has been made in this forum about the imminent listing of BMN on the TSX in Canada.
> 
> This will be excellent for Bannerman, but perhaps just as importantly, refer to an interesting article in StockInterview.com .... titled "_Wall Street Could Soon Rush into Uranium Mining Stocks_"
> 
> ...




Blimp, thanx for this info...

 I followed up your post to  contact  james finch(senior editor)....at stockinterview...to advise  of bmn's progress...& sent him latest Co.presentation.

He answered & will  now include bmn in the next C.D. update on "Investing in the great U bullmarket "

He was aware of bmn but had not realised they had confirmed 27 mill. etc. & were starting BFS early 2008, & listing on TSX sept./oct .
He said wall st had bought out all stock of c.d's & will be reprinting & updating before bmn is trading on TSX.

As you said Blimp ,very exciting times coming up for us to follow


----------



## captjohn (15 May 2007)

Another special crosstrade has appeared today(1.4 mill.-ish).
Also will take this opportunity to apologise for being wrong with my post last fri.nite....where I thought this was the broker changing from 'short' to 'long'...which IMO  often accounts for very increased volume!!

 However, I wanted to find out so contacted etrade & told that it is simply a transfer of ownership ...by someone that obviously owns a lot of shares...(...but not a director )

So there!!...I'll walk the plank but not jump off..


----------



## Go Nuke (15 May 2007)

captjohn said:


> Blimp, thanx for this info...
> 
> I followed up your post to  contact  james finch(senior editor)....at stockinterview...to advise  of bmn's progress...& sent him latest Co.presentation.
> 
> ...




Wow awesome Captn!
Gee you dont hold back from the phone calls to people do you!

Spose something has to get BMN out of the Red sea at the moment


----------



## captjohn (16 May 2007)

Go Nuke,

It'll be a few months before stockinterview.com can update the "Great Uranium Bullmarket" book & C.D.'s....

They will be including 'near term 'producers .ie before 2011...so he is now aware that bmn will just squeeze into that group!!

The TSX listing will be  positive ; allowing world markets access to progress & share trading ..
at the same time Wall st.is beginning to learn & accept the Uranium sector as the"New Gold"..
I have ordered in advance the new update so will let you all know in due course.
In between time as you all know, bmn have commenced scoping study & full on with more drilling...we just have to be patient as it all takes time. 
I've studied the daily & weekly charts &IMO all technical indicators have rewound far enough ...hopefully we can see some positive moves in the coming period weeks.


----------



## chris1983 (16 May 2007)

Go Nuke said:


> Wow awesome Captn!
> Gee you dont hold back from the phone calls to people do you!
> 
> Spose something has to get BMN out of the Red sea at the moment




Its a 6 month hold from here.  Easy decision for me as my remaining shares are free carried..hard for others because they may be suffering some losses. Just realise at the end of the year BMN is likely to report a resource greater than 100 million pounds with better cut off grades to explorers in Canada such as Forsys and Uramin.  Those too companies both have substantially larger market caps than Bannerman. 

Uramin will have a similar resource but has a lower cut-off grade at 80 ppm for their resource and has a 1.75 billion dollar market cap.  This is a very easy decision for me to hold..maybe tough for others.  Good luck to the long termers.


----------



## captjohn (16 May 2007)

Yes....I ditto your comments.....bmn will take care of itself now...its got the fundamentals to support any short term correction.
 I  also have ern,cfe & watching ero to get back in...a volatile little speckie to trade in....gives me a reason to get up in the morning...yawn yawn!!


----------



## chris1983 (16 May 2007)

chris1983 said:


> Its a 6 month hold from here.  Easy decision for me as my remaining shares are free carried..hard for others because they may be suffering some losses. Just realise at the end of the year BMN is likely to report a resource greater than 100 million pounds with better cut off grades to explorers in Canada such as Forsys and Uramin.  Those too companies both have substantially larger market caps than Bannerman.
> 
> Uramin will have a similar resource but has a lower cut-off grade at 80 ppm for their resource and has a 1.75 billion dollar market cap.  This is a very easy decision for me to hold..maybe tough for others.  Good luck to the long termers.





I mean

_"Those two companies both have substantially larger market caps than Bannerman."_ 

duh   Have to type fast when your at work


----------



## jj0007 (16 May 2007)

Not sure if anyone has mentioned this but BMN is finally on board room radio.
Budget for this year's activity is $8m.  They have about $1m left in the bank and expect to get $8-$9m from exercise of options.  So fully funded for the year.


----------



## captjohn (16 May 2007)

jj0007 said:


> Not sure if anyone has mentioned this but BMN is finally on board room radio.
> Budget for this year's activity is $8m.  They have about $1m left in the bank and expect to get $8-$9m from exercise of options.  So fully funded for the year.




Yes,  jj0007, that was posted over the W/E....thanx.
it all helps for p.r. for the big picture& good to see they can fund O.K.   without putting out their hand all the time ...like some companies.


----------



## caleb2003 (17 May 2007)

Consortium of European and Scandinavian Investment Funds
Purchase Significant Stake in Company
Key points:
• Block of three million Bannerman shares purchased by Tier One European and
Scandinavian investment funds.
• Key investors join share register to partner company as it develops its Namibian
uranium projects towards production.
• Directors convert options in company and increase shareholding.
• No dilution of Bannerman share capital.
A consortium of Tier One European and Scandinavian Pension, Mutual and Equity Investment
funds have purchased a block of three million shares in Australian based uranium exploration
and development company Bannerman Resources (ASX: BMN).
The block is comprised of existing securities from a group of shareholders of which the Directors
are a part. This placement was completed off-market and negotiated on behalf of the funds by
WA based company Stripe Capital.
In conjunction with the purchase Directors in the company have chosen to convert options in the
company so as to provide additional working capital to the company and increase their overall
shareholding in Bannerman.
Alastair Clayton, Chairman of the Company said from London, “With the Company going to the
next level in terms of its proposed work programmes at its Namibian uranium projects and
having crossed two of the crucial milestones to future production the Board welcomes these
additional institutional shareholders to the share register.”
Clive Jones, a Director of the Company said from Copenhagen, “These shareholders have
joined the Company at a particularly exciting and rapid phase of growth for the Company as it
moves from explorer to developer and ultimately producer. The Company will continue to seek
and cultivate strong relationships with those financial institutions that will partner the Company
as it works towards its goal of becoming a globally significant producer of uranium.”


----------



## the barry (17 May 2007)

Consortium of European and Scandinavian Investment Funds
Purchase Significant Stake in Company.

Finally the news i was waiting for. That explains the large trades. Will be interesting to see what this does to the share price. Can only be good news shorely?


----------



## chris1983 (17 May 2007)

the barry said:


> Consortium of European and Scandinavian Investment Funds
> Purchase Significant Stake in Company.
> 
> Finally the news i was waiting for. That explains the large trades. Will be interesting to see what this does to the share price. Can only be good news shorely?




Great news.  Strong backings behind them now.  I'm really enjoying watching BMN progress.  I hope you all hold untill production!


----------



## Louieh (17 May 2007)

check it out... the market is reacting positively to one of our GOOD announcements! go Bannerman... its about time this happened


----------



## jj0007 (17 May 2007)

Fantastic deal.  Sold their shares to this consortium...and with that profit they exercised their options.  They found a way to raise capital without diluting the shares!


----------



## Rafa (17 May 2007)

coverting options doesn't dilute the shares anyway... becuase you should always count shares and options when calculating the companies market capitalisation.

as a long term BMN holder, this is a further boost of confidence in the company. However, i do understand why those who are recently on board can get nervous with the recent price movement.

soon after that WA magnate (can't remember his name), purchased that huge chuck of BMN at 2.70ish, the march crash came and BMN promtly fell back to 2.20...

so, today annoucement in itself is no way of calling short term price action...
long term however, my confidence in this company is further strengtened.


----------



## captjohn (17 May 2007)

Arghhh!!....what a pleasure to read this latest announcement......all top stuff....& not diluting ...

*Still very positive in fast tracking to become a top 10  U producer !...*


----------



## Go Nuke (17 May 2007)

Louieh said:


> check it out... the market is reacting positively to one of our GOOD announcements! go Bannerman... its about time this happened




LOL 

Its great news! Especially that they have not had to dilute their shares to raise more money.
Nicely timed too to keep that MACD out of the negative zone 

Great to see some more confidence in a stock that all of us have gradualy gotten wind of. For me it was the wisdom of you guys here that made it happen for me, and I thank you all for that. {You know who you are Im not into boosting egos just yet...lol}

The one thing I love about the Bannerman thread......everyday when I get home from work and check the companies that I'm interested in here on ASF, without fail someone always has something to say about BMN!

Yes...Even *BSD*:chainsaw: 

Looking forward to the inclusion of BMN's next drilling rig to get underway.

Goodluck guys.
GN


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## chris1983 (17 May 2007)

The thing that I love about BMN's management is they try extremely hard not to dilute the share capital.  They have had plenty of opportunities to raise funds and have their bank fully loaded but they don't do anything that isnt needed.  They have stated drilling will be fully funded to the end of the year so unless they wanted to start heavy exploration in Botswana they look set cash wise for some time yet.


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## Logique (17 May 2007)

The part of the announcement that I hope nobody missed is where BMN said,  

"Addresses strong external institutional demand for securities in the Company."


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## bliimp (17 May 2007)

Logique said:


> The part of the announcement that I hope nobody missed is where BMN said,
> 
> "Addresses strong external institutional demand for securities in the Company."




Good point Logique ... And the key word there being "external".

Unfortunately, Australia as a norm takes things for granted.

I clearly remember MIM (Mount Isa Mines) taken over by Xstrata a few years back ... the CEO for MIM was "crying wolf" ... but his own board faced with pressure from the Aussie institutions sold out big time (losing all the benefits of the China driven commodity boom).

Unfortunately, the radar for Aussie Institutions is probably no more than 12 months ... and with Bannerman talking 3 years to mine (in reality, breathtaking pace) ... the Aussie institutions would rather plough into the likes of Macquarie Bank to get "instant gratification" ... especially when end-of-year performance is at stake for them.


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## Broadside (17 May 2007)

bliimp said:


> Good point Logique ... And the key word there being "external".
> 
> Unfortunately, Australia as a norm takes things for granted.
> 
> ...




MIM was a complete travesty and the Australian institutions should hang their heads in shame for selling it at a rock bottom price.  Maybe they are slowly learning, they never really came to the party with the QAN takeover.

Sorry I digress, demand by instos should fuel share price growth in BMN, it can prove a very tightly held stock and has the potential to rocket on good news.


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## bliimp (17 May 2007)

Broadside said:


> MIM was a complete travesty and the Australian institutions should hang their heads in shame for selling it at a rock bottom price.  Maybe they are slowly learning, they never really came to the party with the QAN takeover.
> 
> Sorry I digress, demand by instos should fuel share price growth in BMN, it can prove a very tightly held stock and has the potential to rocket on good news.




Yes, and with the listing on the TSX in a few months time, the reliance on Australian institutions will be diminished.

Especially with BMN's non-diluted share capital !


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## captjohn (17 May 2007)

I don't like being the 'wet blanket' here but just read article on FNArena showing how the two heavyweights in U sector....ERA & PDN have slowed down big time over past few weeks.....with pdn's  sp down 20%-sh.from $10.80 highs!

This can  keep the lid on bmn's sp too IMO....but when the big caps take off again bmn will be right there alongside 

 great to hear opinions from rafa,broadside,blimp,logique,chris ,go nuke etc about latest announcement;
....I learn a lot from your experiences with  institutional investors  re. MIM  etc..


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## the barry (17 May 2007)

captjohn said:


> I don't like being the 'wet blanket' here but just read article on FNArena showing how the two heavyweights in U sector....ERA & PDN have slowed down big time over past few weeks.....with pdn's  sp down 20%-sh.from $10.80 highs!
> 
> This can  keep the lid on bmn's sp too IMO....but when the big caps take off again bmn will be right there alongside
> 
> ...




Paladin is suffering from poorer production figures than anticipated and it's ongoing take over saga with Summit. In terms of the lower than anticipated production figures, in the long run this will pan out to be beneficial to the share price under the big assumption that the spot price will continue climbing. Era is in the same boat having to assume force majure earlier in the year due to the flooding of the ranger mine. It would be nice to see the share price consolidate before the scoping study due in the next 8-12 weeks. 
Hopefully the bullish sentiment towards the U sector will return by then.


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## BSD (17 May 2007)

This must be the most positively received Director/Insider sell-down of all time!

I don't understand why a company with an obvious need for cash didn't issue new stock to the interested parties - rather than selling-down some insider's stakes?

Maybe I have misunderstood the announcement?

Good luck guys - but I still think a MASSIVE raising is in the wings

Just part-and-parcel of building a big mine - nothing sinister


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## chris1983 (18 May 2007)

BSD said:


> This must be the most positively received Director/Insider sell-down of all time!
> 
> I don't understand why a company with an obvious need for cash didn't issue new stock to the interested parties - rather than selling-down some insider's stakes?
> 
> ...




You just dont understand how clever the Directors are.  They are pretty confident on seeing the stock price rise further by the end of the year.  They want as little dilution as possible.  They say they have more than enough funds to last till the end of the year.  Why would they raise money now when it isn't needed right now?  They can raise money at a higher price later and hence less share dilution will occur.  Once they report the final resource estimate I expect the SP to be well above what the current share price is.  It should be hitting the Carmichael price estimates and even higher which is $4.50.  Its easy to see what the Directors have done.  They have gained some excellent support from tier one european and scandinavian investment funds which is an excellent addition to their share register.  This shows overseas confidence for the stock which shows Australian investors just how well accepted Bannerman will be as they continue to progress their operations.


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## chris1983 (18 May 2007)

BSD said:


> This must be the most positively received Director/Insider sell-down of all time!
> 
> I don't understand why a company with an obvious need for cash didn't issue new stock to the interested parties - rather than selling-down some insider's stakes?
> 
> ...




Oh yes..and BSD when you state something back it up with evidence.  Where is the obvious need for cash atm?  Show me. hmmm..

It has been stated over and over they have enough funding till the end of the year.  So PLEASE show me where the obvious need for cash is.


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## nizar (18 May 2007)

BSD said:


> This must be the most positively received Director/Insider sell-down of all time!




Bro i was thinking the exact same thing.
Why are directors selling?
Id rather have directors on the registry than some euro fund i never heard of.

Id rather have dilution anyday than a director selling


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## jj0007 (18 May 2007)

Directors will end up holding more shares than they did before this deal.
It brings an institution onto the register.
It brings cash into the company with no dilution.

They expect to get ~$8m this year from exercise of options so I'm pretty confident the directors will exercise their portion.  Enough to fund drilling till end of year.  People tend to forget they have a DB with over 200 drill holes, significantly reducing drilling costs to delineate the resource.

Yes there will be a major capital raising in the future to fund BFS and mine construction.  But we are talking next year and if it gets to that stage then SP will be much higher than $3 is my bet.


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## chris1983 (18 May 2007)

nizar said:


> Bro i was thinking the exact same thing.
> Why are directors selling?
> Id rather have directors on the registry than some euro fund i never heard of.
> 
> Id rather have dilution anyday than a director selling





Um..did the SP go down?  What is the head bashing for?  This message is positive.  Have a read.  If you think its negative..you can organise to sell your shares to the pension funds in scandinavia.  They will be long term investors 

http://www.wabusinessnews.com.au/en-story/1/52397/Bannerman-raises-9-5m-in-share-sale-


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## nizar (18 May 2007)

chris1983 said:


> Um..did the SP go down?  What is the head bashing for?  This message is positive.  Have a read.  If you think its negative..you can organise to sell your shares to the pension funds in scandinavia.  They will be long term investors
> 
> http://www.wabusinessnews.com.au/en-story/1/52397/Bannerman-raises-9-5m-in-share-sale-




Chris, i love you man.
To be honest i just posted that to get a reaction from you, LOL 

You know me, as long as the sp goes up, then its all good


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## Broadside (18 May 2007)

jj0007 said:


> Directors will end up holding more shares than they did before this deal.
> It brings an institution onto the register.
> It brings cash into the company with no dilution.
> 
> ...




I agree...there are good capital raisings and bad ones. The bad ones are where you are continually pouring money into a black pit to fund directors' indulgences and a vague exploration program.  The good ones are where a resource is targeted, identified and shown to be economic, so a decision is made to develop it.  That is a good problem to have and I look forward to that capital raising if (and I assume when) it happens.


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## chris1983 (18 May 2007)

nizar said:


> Chris, i love you man.
> To be honest i just posted that to get a reaction from you, LOL
> 
> You know me, as long as the sp goes up, then its all good




ahaha.  not cool man lol.  You got the reaction   Well the SP went up for once after an announcement so thats good .  I know you trade the price action so I expected you to be happy cos BMN have been dragging of late.  Lets see if we can get it running further.  Theres still quite some time untill the scoping study is released.  I think we wil get some drill results in between the waiting period.


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## the barry (18 May 2007)

chris1983 said:


> ahaha.  not cool man lol.  You got the reaction   Well the SP went up for once after an announcement so thats good .  I know you trade the price action so I expected you to be happy cos BMN have been dragging of late.  Lets see if we can get it running further.  Theres still quite some time untill the scoping study is released.  I think we wil get some drill results in between the waiting period.




I'm not sure that we will get any results in the interim. Couldn't be happier about the way they are going about things at the moment. The only thing i didn't like about the announcement was this comment - "An additional drilling rig will be added to the fleet currently contracted at Goanikontes Anomaly A in the coming weeks." They have been stating this for months. Rio are doing a presentation on their Uranium assets in london monday time, trying to increase the perception of the market to the value of their current U assets. With the takeover speculation in the air at the moment, it will be interesting to see what there short and long term stratagies are. Nothing like an acqusition to keep predators at bay. I would watch this one with great interest.


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## captjohn (18 May 2007)

Bmn announcement;...*that Haywood securities *has been appointed as agent for Canadian listing for later this year ....same mob as paladin!!......Yes its all happening


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## chris1983 (18 May 2007)

captjohn said:


> Bmn announcement;...*that Haywood securities *has been appointed as agent for Canadian listing for later this year ....same mob as paladin!!......Yes its all happening




Hey Captain.  I think they are just sick of Australian investors   Once we go over there it will take off.  Glad they got things moving quickly.


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## captjohn (18 May 2007)

chris1983 said:


> Hey Captain.  I think they are just sick of Australian investors   Once we go over there it will take off.  Glad they got things moving quickly.




The  other day I sent the latest company presentation to editor of Stockinterview showing bmn will be into production in 2010-sh.....he's was not aware of this.. & now include bmn in the new update for book & c.d.'s "investing in the great uranium bullmarket". out before TSX listing.
He said then the TSX listing would really get bmn into the world's radar & U.S. market........so as you say who needs Aussie  instos & investors along the way !
Some of the stories that they want to sell out on takeovers too quick to get the quick buck ....like the  MIM story !!


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## Go Nuke (18 May 2007)

the barry said:


> Paladin is suffering from poorer production figures than anticipated and it's ongoing take over saga with Summit. In terms of the lower than anticipated production figures, in the long run this will pan out to be beneficial to the share price under the big assumption that the spot price will continue climbing. Era is in the same boat having to assume force majure earlier in the year due to the flooding of the ranger mine. It would be nice to see the share price consolidate before the scoping study due in the next 8-12 weeks.
> Hopefully the bullish sentiment towards the U sector will return by then.




The closing date for the Paladin takeover of Summit is the 25th of May, so perhaps then PDN can start on its way again.

BMN really strugging to keep its head above water today, but doing better than most right now.


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## captjohn (18 May 2007)

Go Nuke said:


> The closing date for the Paladin takeover of Summit is the 25th of May, so perhaps then PDN can start on its way again.
> 
> BMN really strugging to keep its head above water today, but doing better than most right now.




GN ...I thought you'd be at work?

Yes markets all sorta weak!!& fridays are often quiet!!....

however, on the positive side, a very important indicator IMO is the MACD & is almost crossing to the upside ....
if sp can stay up in $3.30-ish zone!!!   another day or two is a positive signal.


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## Go Nuke (18 May 2007)

Ahhh the joys of finishing at 12 on Fridays mate

Thats why im up at 5am.
Well im quite pleased to see it looks like BMN might finish even for the day..and yes considering its a FRIDAY, thats even better.

Some of my mates might look at me funny when I say "Im really looking forward to next weeks share price movement with BMN"  {Im the only one of my friends that has shares}

Fingers crossed its a positive week

MMmmmm Lone Star steak for dinner tonight.:bounce:


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## eMark (18 May 2007)

captjohn said:


> I don't like being the 'wet blanket' here but just read article on FNArena showing how the two heavyweights in U sector....ERA & PDN have slowed down big time over past few weeks.....with pdn's  sp down 20%-sh.from $10.80 highs!
> 
> This can  keep the lid on bmn's sp too IMO....but when the big caps take off again bmn will be right there alongside
> 
> ...




Hi

Umm, would it be ethically challenging for you to post that article here? If not I would love to read it. I have only ever had a trial with FN Arena, probably should just go and get a subscription.


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## Pommiegranite (18 May 2007)

eMark said:


> Hi
> 
> Umm, would it be ethically challenging for you to post that article here? If not I would love to read it. I have only ever had a trial with FN Arena, probably should just go and get a subscription.




Not too enlightening IMO:

Uranium Shares Look A Lot Less Bullish
FN Arena News - May 17 2007 

The Tech Wizard has kept shares of Energy Resources of Australia (ERA) firmly on his radar since last year.

Ever since the world's largest producer of uranium, Canada's Cameco, announced it had problems with the ramp up of its highly promising Cigar Lake mine, spot uranium has been in an stark uptrend – and so have ERA shares.

This time around it would appear ERA price action looks has consolidated at levels between $23.00 and $28.00.

The Wizard believes the outlook for ERA shares is very much dependant on the future price of uranium. Given the tightness in the market he thinks it is unlikely spot uranium will fall anytime soon.

From a technical point of view, it would take a fall below the $20.00 level to suggest the bull run is over. The Tech Wizard is of the view that with a bullish MACD indicator and with uranium still in short supply, such an outcome is rather unlikely.

For fellow uranium producer Paladin Resources (PDN), however, it would seem the outlook appears more challenging.

The Tech Wizard believes key resistance for Paladin sits at $10.80. And as proven in the past resistance here is pretty strong.

Paladin's price action has come back $2.00 since the shares failed in their attempt to break through the above mentioned resistance level. At this point in time, Paladin shares are trading below their 20 moving average and that, the Wizard highlights, is not a good sign.

He notes the MACD indicator is bullish but showing divergence. He explains this indicates there is an inherent weakness in the share price.

Paladin shares need to move back above the 20 m/a, says the Wizard, or else they are likely to fall to the bottom Bollinger band support level.

The Wizard believes there is solid support for the shares at the $7.80 -$8.00 level.


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## eMark (18 May 2007)

Thankyou, much appreciated! Will use excerpts of this article in the PDN thread, and identify the FN Arena source.


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## bliimp (19 May 2007)

Forsys Metals which has its Namibian Valencia Uranium project in PSD phase has issued a statement that it has received a water permit in Namibia :-

_Although it is not the intention of Forsys to become a water provider for the region, the Permit does make allowance for substantially more water than the Company estimates that the Valencia would require. With ongoing discussions between the various stakeholders in the region, the Permit provides Forsys with an initial contribution towards a collaborative project that would meet the needs of several of the area's current and future stakeholders. If however, a collaborative project cannot be agreed upon in the timeframe required by the Company at Valencia, it does provide a 'fall-back' position for Forsys to provide water for its own uses and remain independent from the reliance of others.

"This is the first large scale seawater abstraction permit issued in Namibia. This Permit secures our water requirements for the proposed Valencia uranium mine and is a major step in the projects development", states Duane Parnham, Chairman & CEO of Forsys._

No doubt Bannerman could be a part of a collaborative project - it makes good sense; but just as important, all this preliminary work by Forsys cuts through the red tape and provides another step in BMN's march towards a mine by 2010 ....


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## captjohn (19 May 2007)

bliimp said:


> Forsys Metals which has its Namibian Valencia Uranium project in PSD phase has issued a statement that it has received a water permit in Namibia :-
> 
> _Although it is not the intention of Forsys to become a water provider for the region, the Permit does make allowance for substantially more water than the Company estimates that the Valencia would require. With ongoing discussions between the various stakeholders in the region, the Permit provides Forsys with an initial contribution towards a collaborative project that would meet the needs of several of the area's current and future stakeholders. If however, a collaborative project cannot be agreed upon in the timeframe required by the Company at Valencia, it does provide a 'fall-back' position for Forsys to provide water for its own uses and remain independent from the reliance of others.
> 
> ...




Thanx Bliimp...

I went to their website & read the PFS  released last wednesday!!
....really very interesting info.with whats involved  getting into production, only 40 kms north of Rossing.

I reckon  the Bmn boys are trying to beat 'em into production..... maybe thats why bmn are jumping straight into BFS after scoping study ??

I'll be watching how both advance over next year or two!

Fsy has approx. half the number of shares on issue.....but twice the  share price.....Hmmm....very similar with resource size too!!


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## Pommiegranite (19 May 2007)

To all HMS Bannerman crew  ,

Hands up...I admit I haven't been aboard for all that long but am watching intently.

With a TSX listing a real probability within the next 6-12 months, I'm just wondering how the whole thing works with listing on another exchange.

Would it mean ASX BMN stock is diluted...or is there any other way? Do we think there will be an intial drop in SP on ASX followed by a gradual rise to prior level and past the MC prior to listing on TSX.

Thanks
PG


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## captjohn (19 May 2007)

Pommiegranite said:


> To all HMS Bannerman crew  ,
> 
> Hands up...I admit I haven't been aboard for all that long but am watching intently.
> 
> ...


----------



## Caliente (19 May 2007)

Hand up.

Unless s*** turns sour, I'm holding this one till production. 

As for your question, TSX listing will obviously increase liquidity and exposure. From past experience, dual listings are generally a positive thing - especially for underexposed shares.


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## bliimp (19 May 2007)

captjohn said:


> A dual listed company makes the shares available to a broader investment base eg. canada & U.S.& bmn's timetable shows listing for  sept./oct.
> 
> Who knows if sp goes up,down or sideways ?? (google...dual listing ) for  hours of reading.
> 
> ...




Captjohn's sentiments are mirrored in the following article from the Paydirt Conference in Adelaide a couple of weeks ago *"Canadian factor looms large for Australia’s booming mining sector"*

http://www.mineweb.co.za/mineweb/view/mineweb/en/page67?oid=20301&sn=Detail

To quote, Whiting, a director of stockbroking firm Taylor Collison Ltd, 
_
"The short-term attitude of the Australian equity market is really disappointing," Whiting said.

"Local investors' time horizons are very short and I blame the big investors, the larger institutions and fund managers, stockbrokers and investment advisers as much as the mum and dads," he said. 

"The Canadians have a vastly different attitude and are definitely prepared to take a long-tem view on their stocks and if you do this, you subsequently have a very different investment philosophy.  

"Not only does this mean that managing directors of exploration and mining companies can have confidence about funding good projects, it also means they are prepared to ‘spend'."

"The problems that I see developing for the Australian market because of this short term attitude are numerous but there are two main issues.

"There will be an increasing drift of mineral companies moving to Canada to raise money. At this stage it will still be dual listings which lessens the pain but eventually we will see companies totally bypass the Australian market."

"The second issue will be an exodus of talent and expertise from Australia in both the technical and financial sphere,"

"These factors will then work off each other and the Australian market will become less and less relevant on a world scale _

It must be deduced that what BMN are now doing with respect to the TSX listing is a logical "next stage", and the only correct and logical path to follow; and really, merely following the successful path taken by PDN, and for all the reasons explained in the article above.

In terms of what a TSX listing can do for its share price .... well as Captjohn has mentioned "up,down or sideways" .... but possibly a more pertinent question would be to ask _*What would happen to BMN's share price if no TSX listing was forthcoming!*_


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## champ2003 (19 May 2007)

bliimp said:


> Captjohn's sentiments are mirrored in the following article from the Paydirt Conference in Adelaide a couple of weeks ago *"Canadian factor looms large for Australia’s booming mining sector"*
> 
> http://www.mineweb.co.za/mineweb/view/mineweb/en/page67?oid=20301&sn=Detail
> 
> ...




*What would happen to BMN's share price if no TSX listing was forthcoming!*

Great comments Bliimp however I see this last comment as being irrelevant as they are definitely listing on the TSX.


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## nizar (19 May 2007)

champ2003 said:


> Great comments Bliimp however I see this last comment as being irrelevant as they are definitely listing on the TSX.




The only thing definite in life is death and taxes.
Sorry but had to add that, you should know that there is nothing definite in the markets. A well known saying goes along the lines that the only certainty in the markets is that nothing is certain.

And i reckon that Whiting guy is taking things a bit too far??
By pass the australian market?? BIt of a joke i reckon.
Sounds like hes lost a few big clients lately LOL.


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## nizar (19 May 2007)

Also BMN is suffering due to a shift in sentiment out of uranium sector into the oil&gas sector.

The big stocks are a good indicator for the sector, look at WPL and PDN charts, and you will see what i mean.

Too many "April 29 multibagger potential" speculators have been dumping uranium stocks nonselectively the past few weeks. Punters were looking forward to April since mid last year.


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## captjohn (19 May 2007)

Arghhh!!..Nizar  as the song goes  "you may be right!...you may be crazy!!

We're all having a very intense talk about the pro's & con's of TSX listing & new members are involved to learn .....we all accept the u sector is consolidating  ie. going down ... so what!!...it brings all the indicators back to start again......I know that its all part of the life of a chart whether oil.gas, or uranium!!

Ya captain is standing watch for the good ship Bannerman this week or so ....while chris,punter ,kennas are on shore leave!!

End of month I'm off to Thailand for 2 months with thai wife to our new house in chiangmai !.so I'll be on shore leave !!..haha.

Nizar post something so that the newbies can learn from your expertise & teach 'em about things !!.....in between time bmn is getting better with fundamentals......so when we have the corrections at least they will bounce back as preferred stock!!
cheers


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## nizar (21 May 2007)

(last 2 paragraphs of relevance to BMN)

Uranium search gets serious

* Robin Bromby
* May 21, 2007

STAND by for a uranium sea change - the end of the big tenement land rush and the start of serious exploration.

This means, according to Far East Capital's Warwick Grigor, that the race is now on among the 150 or so locally listed uranium companies to find a resource while the metal's price is still in its peak phase.

Mr Grigor, who charts hundreds of resource juniors on a daily basis, said that the potential uranium supplies to be brought on to the market by Canadians and others could eventually see the price go back below $US100 a pound. The metal was still holding strong at $US120/lb last week.

But if the land rush phase is just about over, it's ending with a bang as both established explorers and latecomers scramble for projects.

And Africa seems to be the latest favourite.

In recent days, Crossland Uranium Mines has expanded its search to West Africa by joining a Canadian explorer to pick up 5000sqkm in Burkina Faso; Murchison United has begun drilling in Guinea and is raising another $6.6 million; Western Uranium has hired consultants to find it uranium projects in Africa; recent entrants New Age Exploration and Palace Resources have jointly gone hunting uranium in countries ranging from Sierra Leone to Mali; and NGM Resources is acquiring three uranium leases in Niger, a country where Canadians and Chinese companies have also been pouncing on uranium leads.

Also joining the ranks of the uranium players is Marmota Energy, a float being spun out of Monax Mining. Xenolith Gold has plumped for "nearology" and acquired tenements close to advanced projects held by Nova Energy, while oil and gas junior Rawson Resources is going looking for yellowcake opportunities in Texas, Utah, New Mexico and Colorado.

Mr Grigor, in his client note on uranium, said the uranium boom was now fact, no longer fantasy.

"This is a bull market based on hard factual economics, not fantasies and what-ifs," he wrote. "At these uranium prices, there are enormous cash flows that can be made."

And he now likes many of the companies that, two years ago, he dismissed as marginal players. These were the players with low-grade resources but - with the quadrupling of the uranium price in that time - had now been placed in an enviable position.

"If the uranium price keeps rising, these companies will shine even more," he added.

Mr Grigor expects the new exploration phase to last about two years, after which investors would be much better educated.

The more serious companies would be moving toward production, but the majority of exploration stocks would probably have withered on the vine.

*Far East Capital's rankings have now been expanded to include two more companies in the potential producer category, Alliance Resources and Bannerman Resources.

Alliance has a stake in a 15,000 tonne resource in South Australia while last week a European consortium bought a large stake in Bannerman as that company looked to develop uranium mining in Namibia.*


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## captjohn (21 May 2007)

Nizar,  Great Post ...it puts the whole scenario into perspective & written by the people that know the business......top mention for bannerman......thanx for your research.....cheers


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## captjohn (21 May 2007)

*Spot Price for Uranium up $2 this week!!*

Good to see a little increase ....might get the big cap boys up a bit ERA & PDN  etc.


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## Sean K (21 May 2007)

captjohn said:


> *Spot Price for Uranium up $2 this week!!*
> 
> Good to see a little increase ....might get the big cap boys up a bit ERA & PDN  etc.



Yep, was a good day for some uranium stocks and BMN played true to form down a couple of percent. No amount of posting in this thread is going to assist I feel captjohn. 

BMN looks to be sliding to a pretty solid general uptrend line which you would expect it to hold. $3.10 ish looks to be short term horizontal support too so it _probably _should hold around here, and is possibly an entry point if you're happy to trust these support line theories. Time will tell I suppose.

Having said that, this is BMN.... 

And obviously, general market tank will throw this TA out the window.

Have I hedged my bets enough?  :


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## chris1983 (21 May 2007)

Im very happy to see all the technical indicators have cooled down.  Like you said Kennas it looks like it could be a good entry point.  Fundamentally nothing has changed.  The price movements dont bother me though as I will be holding this untill production.  Its always nice to see your stock powering up in the right direction though.


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## captjohn (21 May 2007)

I agree with your analysis kennas..... as I am a believer in charting as entry & exit points.
Did the courses & got the books.
Actually bmn has established its own personality I have noticed in 12 months ....& over next 3-ish years (to production) I will observe if still similar.

nearly identical pattern 2 months ago!!..& before that approx every 2 months....I find the macd as the stongest indicator & get agitated waiting for a cross to the upside Grrrr!! 

IMO market is biding time & will stay in this trading range waiting for next drilling results . 
DJCarmichaels valuation of $4.50-$5.70  require depths to be confirmed to 200 plus meters in Anomoly A .

When sp starts moving up I reckon an announcement to that effect will be iminent... otherwise sp should not be taken up .Personally not bothered at all as fundamentals are consolidating & bmn mentioned in articles worldwide as a potential producer


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## Rafa (22 May 2007)

Love that chart Kennas, welcome back from the honeymoon...  

I hate seeing shares disobey 'technical' parameters... regardless of their fundamentals. BMN is following it to the tee...

This contrasts to MTN which seems to have overrun itself and still has room to fall. I probably am going to take a big hit if, rather when, this correction happens, but i'll be riding this one out. Simply too much CG this year to contemplate giving any more to the tax man


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## Go Nuke (22 May 2007)

If someone could point out to me the differences between BMN and say MTN and why their share price is so vastly different, i'd be very greatful.

I know little about shares, but isn't BMN undervalued compared to SMM and MTN?
Is it just Australian investors like to invest in this country?
Whats the go? 

So far I would have to say I agree with the Whole May is a crap month for investing (generaly).

Everything I hold seems to be down...rather like me at the moment.

Oh well...i know for next year now


----------



## Rafa (22 May 2007)

calm down Go Nuke  
Everything i'm holding is underperforming compared to everything i should be holding!    

i just hope when the correction does come, it doesn't drag my holding down even further  

when your comparing company valuations you gotta look at the pounds in the ground (via JORC), VS the market capitalisation (which is number of shares and options times the share price).

plenty of posts on the above in the various forum threads...


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## captjohn (22 May 2007)

Go Nuke, 
 its been a down time lately for most of the U sector ...it rose too high too quick ( meaning 6-12 months) & has to consolidate while all the moving averages can catch up!
ERA & PDN have dropped but now moving up......but bmn is a small fry & not influenced by zillions of shares out there!!(which is good!)....its driver is the drilling results showing U308 down to 200 meters & beyond. until this gets close to reality the broker(DJC's) will not jump the price up to their valuation of $4.50-ish!!

Why should they take up the sp just to keep you & me happy???
In between time you have to just wait for bmn to act on your behalf.....the M.D. is presently in Namibia & pushing the labs for quicker results but lotsa backlogs to process. Halba rang the Co. Secretary today.

Here's a funny for ya !!!
"April,May,& June "...are the worst months of the year to be in the Stock Exchange!
The other bad months are.."July August Sept. Oct. Nov.Dec.Jan.Feb.& March!!
Do you remember the bearmarket ..2000-2003-ish.


----------



## Go Nuke (22 May 2007)

captjohn said:


> Go Nuke,
> its been a down time lately for most of the U sector ...it rose too high too quick ( meaning 6-12 months) & has to consolidate while all the moving averages can catch up!
> ERA & PDN have dropped but now moving up......but bmn is a small fry & not influenced by zillions of shares out there!!(which is good!)....its driver is the drilling results showing U308 down to 200 meters & beyond. until this gets close to reality the broker(DJC's) will not jump the price up to their valuation of $4.50-ish!!
> 
> ...




Ah Im just pushing for the sp to rise becasue of that dreaded interest Im now paying {you know what im talking about mate}
My mistake.
Otherwise I'd be just fine
No..I wasn't trading in shares until Jan this year..so i know nothing beforehand. But i did laugh

Great to hear that the M.D is over there.


----------



## UraniumLover (22 May 2007)

Go Nuke said:


> Ah Im just pushing for the sp to rise becasue of that dreaded interest Im now paying {you know what im talking about mate}
> My mistake.
> Otherwise I'd be just fine
> No..I wasn't trading in shares until Jan this year..so i know nothing beforehand. But i did laugh
> ...




Sorry to here your struggling  Go Nuke.  Sometimes it pays to sell for a profit of 20% and re-enter  at stablisation levels like we are currently experiencing.
A month of May could be a 20% profit instead of a 20% loss or reduction in profit.
BMN is a long termer for me. Not worth the headaches of getting in and out.


----------



## captjohn (23 May 2007)

Last nite I attended the FAT PROPHETS seminar at Uni.of W.A.......  GavinWendt  head analyst   of resources..booked out  ..full!!
I remember going to similar in (circa )2000(doom&gloom market).....only two of us there....me & the bear!!  Arghhh!!


 Anyway,blah blah blah  about commodities boom,china,india continuing for decade or two....U.S. not as important .blah blah..

Anyway at end ....had their 12 top selections to recommend to members & newbies.. 
oil,gas,nickel copper,plat,iron ore..only one in Uranium & guess which one, mtn ags,era pdn  ??........ *Their only pick for uranium sector is BANNERMAN .*coz has heaps of upside &sp appreciation yet to come....etc  you & I know all the reasons  why!


----------



## philmac (23 May 2007)

Thanks for the encouragement Capn. I don't suppose you wrote the other 11 down? If so can you please let us know. I hold BMN and don't plan to sell any time soon.

Many thanks


----------



## captjohn (23 May 2007)

philmac said:


> Thanks for the encouragement Capn. I don't suppose you wrote the other 11 down? If so can you please let us know. I hold BMN and don't plan to sell any time soon.
> 
> Many thanks




No Probs.....  here's the codes....*sgx, tfe, aoe, mun, pla and cvn, dom, rml, slv, vre & bmn*.

Glad to hear you're like most of us...holding for long term... sp may not jump up & around like some of the 50 centers;
but bmn is full on for ... more  pounds in the ground & a producing mine probably quicker than Aussie similars.


----------



## JWBH01 (23 May 2007)

captjohn said:


> No Probs.....  here's the codes....*sgx, tfe, aoe, mun, pla and cvn, dom, rml, slv, vre & bmn*.




Nice one Capt John, thanks for this info.  Glad to see I own a few of these.  Wish they had mentioned ERN in this lot.


----------



## captjohn (23 May 2007)

Don't despair JBWH01  ERN will have its day maybe sooner than you think.
Read latest article from stockinterview.com.....james finch  *"Russia & China battle over African Uranium.."(Namibia)*If Uramin is bought out...Who's next...forsys ?...
Russia & China reckon Aust. is dragging its Uranium feet...& Namibia is quicker into production ...


----------



## chris1983 (23 May 2007)

captjohn said:


> Last nite I attended the FAT PROPHETS seminar at Uni.of W.A.......  GavinWendt  head analyst   of resources..booked out  ..full!!
> I remember going to similar in (circa )2000(doom&gloom market).....only two of us there....me & the bear!!  Arghhh!!
> 
> 
> ...




Thanks for the post Capt.  I should of been there with you   Take care buddy.  All good news continues.  Im happy to wait for further results and positive increases in SP.


----------



## captjohn (23 May 2007)

chris1983 said:


> Thanks for the post Capt.  I should of been there with you   Take care buddy.  All good news continues.  Im happy to wait for further results and positive increases in SP.




Never mind  Chris,we'll all catch up for AGM in perth  late Oct.!!
Heaps to hear from management & future plans....especially how to repel a takeover from Russia & China(see stockinterview article)....maybe we could place guards around the tenement?..with Halba in charge of troops...haha


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## captjohn (24 May 2007)

Co.Announcement. ..

Will issue 2.8 mill. shares @$3.10 for Haywood securities to sell to investors.
Will create interest in bannerman prior to TSX listing.

Extra $$$ for drilling etc.......

At least the price is reasonable @$3.10.

Where are those latest drilling results  showing u308 down to 200 meters??


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## chris1983 (24 May 2007)

Its an excellent announcement.  Further support from Canadian investors.  Dilution from this point onwards leading to production is minimal.  Its a joke the reaction to all the positives Bannerman has put forward.  I cant wait for the TSX listing.


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## Go Nuke (24 May 2007)

I totally agree with you Chris..it is a joke! 

I'm generaly lost for words why BMN seems to spend more times in the red these days than green.
Ok..I know I need to relax and just wait, but that just doesn't explain why Bannerman hasn't performed better over the last month.

I would have thought that $3.10 was a bit on the cheap side?
Wont that deflate BMN's share price initialy? I guess if the Canadians think its worth more they will dig deeper into their pockets to get their hands on some of this good dirt 

At least ERN is up today. Something to smile about at least.


----------



## captjohn (24 May 2007)

chris1983 said:


> Its an excellent announcement.  Further support from Canadian investors.  Dilution from this point onwards leading to production is minimal.  Its a joke the reaction to all the positives Bannerman has put forward.  I cant wait for the TSX listing.




I read a lot of o'seas uranium articles & the whole world U sector is consolidating... 

 as the music stops the 'bandwagon' full o' U308 wannabies won't have a chair!!
The punters will have to research properly (like chris)to find the few companies with 'pounds in the ground' plus they have to get it out one day economically!!

Already paladin is under scrutiny by analysts as 'overpriced' &  Era's taken a big drop today too.
Base metals are in a correction so bmn's sp could stay in this tight trading range for a bit longer yet.


----------



## captjohn (25 May 2007)

Go Nuke said:


> I totally agree with you Chris..it is a joke!
> 
> I'm generaly lost for words why BMN seems to spend more times in the red these days than green.
> Ok..I know I need to relax and just wait, but that just doesn't explain why Bannerman hasn't performed better over the last month.
> ...



Hey Nuke, bmn is up a bit & ern taking off as macd crosses up.....89.5  so far  ...but friday arvo's usually retreat....

P.S.  you'd better keep on that B.B.Q. cane toad diet !!  haha. so you can hop away before debt collectors break ya knee caps.


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## DAZT49 (25 May 2007)

With all the 'good news' re BMN it seems the stock is fairly 'illiquid'. Mostly averaging about 300,000 sales per day.
And look at these small parcels,whats going on there (and I realize that punters are 'accumulating') but 100 at a time??
Hope I have attached this properly.


----------



## captjohn (25 May 2007)

DAZT49 said:


> With all the 'good news' re BMN it seems the stock is fairly 'illiquid'. Mostly averaging about 300,000 sales per day.
> And look at these small parcels,whats going on there (and I realize that punters are 'accumulating') but 100 at a time??
> Hope I have attached this properly.
> View attachment 9188




Its all part off the 'horsetrading' game....eg.  if you want to sell your 10,000 bmn shares ...just buy ,say, a 100 parcel of your own shares to get the rest placed into the 'At market' price section..


----------



## DAZT49 (25 May 2007)

Thanks Captn..just a novice at this stuff. It does need some much bigger volumes to get some momentum going tho.


----------



## DAZT49 (26 May 2007)

Nice intraday correction yesterday, but low volume, only 187,848 on 144 trades, still, better than a poke in the eye with a blunt stick.


----------



## drmb (26 May 2007)

captjohn said:


> No Probs.....  here's the codes....*sgx, tfe, aoe, mun, pla and cvn, dom, rml, slv, vre & bmn*.




Hi Cap'n -  that's 11 includin bmn, was there a 12th by any chance? Cheers and thanks


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## captjohn (27 May 2007)

drmb said:


> Hi Cap'n -  that's 11 includin bmn, was there a 12th by any chance? Cheers and thanks




Aghhh....ratted thru my rubbish bin & guess what!!
I found an 'AND'  scribbled down........So its (AND) code for 'Andean Resources'!!   havagoodweegend!


----------



## timelord (28 May 2007)

captjohn said:


> Aghhh....ratted thru my rubbish bin & guess what!!
> I found an 'AND'  scribbled down........So its (AND) code for 'Andean Resources'!!   havagoodweegend!




As much as we are hanging in there, it is disappointing to see BMN becalmed.  With all the recommendations and good press, it does not seem to be well supported outside of our group


----------



## chris1983 (28 May 2007)

timelord said:


> As much as we are hanging in there, it is disappointing to see BMN becalmed.  With all the recommendations and good press, it does not seem to be well supported outside of our group




hmm..the canadians just bought into BMN.  Its very well supported.  Just be patient.  Some guys dont know what they are selling.  It happened with PDN.  What price level do you guys expect by the end of the year when BMN report a 100 million pound plus resource?  No further dilution should occur untill that time.  Its a 6 month wait from here to really see what happens.  Im expecting big things.


----------



## captjohn (28 May 2007)

timelord said:


> As much as we are hanging in there, it is disappointing to see BMN becalmed.  With all the recommendations and good press, it does not seem to be well supported outside of our group




Timelord........the whole sector has risen too fast in 6 months ..

In december you & I could've started "Capt. Yellowcakes uranium Co........  bought a geiger counter & pegged your backyard, and got 'high mineralisation readings'.....  hehehe !!

The punters would double or treble sp ....but now everybody is scratching their heads to find the near term producers.  with pounds in the ground ,...but still expect sp to be 40 or 50 cents..... sorry all gone !!

BMN have got deposits & indicated by years end to have about 100 mill. pounds ..& can get into production probably quicker than Aussie ....similars... approx.mid 2010. 
You search around the world & find out how many U mines are coming into production by then...& let me know..in Namibia is Uramin & forsys ...both  TSX listed with BMN right in there too  for the three legged race..

Shortly drilling will hopefully confirm depths to 200 meters plus on Anomoly A. & historical drilling has not been wrong yet!!

DJC's have valued sp @$4.50-$5 when this is confirmed!

When sp starts to jump up ....something is happening behind the scenes  ..... just be patient as fundamentals are all in place .


----------



## Sean K (28 May 2007)

Moment of truth for BMN short term sp. If history is anything to go by, then it's going to respect this support line, with the indicators looking pretty similar also. Will be interesting to watch in the least. If it starts to break up I'd have to consider it for a short term trading opportunity.

(holding long too)


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## captjohn (28 May 2007)

Yes kennas,

sp is certainly in the 'doldrums' ...& my favorite indicator,macd, is drooping down into negative territory...but I have to take my own advice & be patient...& be happy with ern going well!!


----------



## chris1983 (28 May 2007)

captjohn said:


> Yes kennas,
> 
> sp is certainly in the 'doldrums' ...& my favorite indicator,macd, is drooping down into negative territory...but I have to take my own advice & be patient...& be happy with ern going well!!




Fundamentals dont lie.  You might have a few jumping ship.  Im happy to see them jump off.  Out with the old and in with the new investors.


----------



## timelord (28 May 2007)

captjohn said:


> Timelord........the whole sector has risen too fast in 6 months ..
> 
> Shortly drilling will hopefully confirm depths to 200 meters plus on Anomoly A. & historical drilling has not been wrong yet!!
> 
> ...




Thankx for that.  Will hang in there for the long haul.  Good movement for ERN today.  Keep up the good work.


----------



## Kimosabi (28 May 2007)

chris1983 said:


> Fundamentals dont lie. You might have a few jumping ship. Im happy to see them jump off. Out with the old and in with the new investors.




While we've got new Uranium IPO's every second day, all Uranium Stock values are going to continue to get diluted.  Until the sector consolidates and the "REAL" Uranium Stocks are identified, most Uranium stocks are going to keep going sideways for the time being in my opinion.


----------



## Go Nuke (28 May 2007)

chris1983 said:


> Fundamentals dont lie.  You might have a few jumping ship.  Im happy to see them jump off.  Out with the old and in with the new investors.




Well this is one person who wont be jumping ship

I agree with Kennas. Ive been watching the sp pattern on BMN and everyday it gets closer and closer {hopefully} to the same point as in the past where it seems to jump up approx 60-75 cents.

All the stats like the MACD and SS are heading in the right direction for something to happen.
At least I still have my optimisim today..lol.
I mean currently $3.09. Thats cheap IMO!

When was it those drill results were supposed to be due? Hopefully Mr Batten is watching his companies sp fall and go.."Ok..lets release the good news to our faithful supporters out there" LOL

Nearly out of Mad Month of May.


----------



## nizar (28 May 2007)

chris1983 said:


> Fundamentals dont lie.  You might have a few jumping ship.  Im happy to see them jump off.  Out with the old and in with the new investors.




Sorry i hate to say this Chris but i have to.
Fundamentals dont make you profitable either.
Share price appreciation does.
LOL sorry.

(not really directed at you, youve picked and rode several winners NICELY)


----------



## chris1983 (28 May 2007)

nizar said:


> Sorry i hate to say this Chris but i have to.
> Fundamentals dont make you profitable either.
> Share price appreciation does.
> LOL sorry.
> ...




Niz Fundamentals have made me extremely profitable so I will stick to my techniques   I know your not directing at me..but I mean anyone who does base off fundamentals can see Bannerman are progressing nicely.  I really couldnt see them being pushed down too much further from here.  Not after raising funds at 3.10 per share.  Too many worriers.


----------



## chris1983 (29 May 2007)

Its sad to see my beloved Bannerman suffering off very small volume.  I hope you guys are okay.  No negatives have been produced but sometimes that isn't enough for the market.  I don't know what to say except I wont be selling?


----------



## Sean K (29 May 2007)

chris1983 said:


> Its sad to see my beloved Bannerman suffering off very small volume.  I hope you guys are okay.  No negatives have been produced but sometimes that isn't enough for the market.  I don't know what to say except I wont be selling?



If I was short term trading then I might be. Looks to have broken down from descending triangle. Might be too early in the day to say and buyers might come in, but looks average short term. Surprised it's fallen much under placement price at $3.10.


----------



## chris1983 (29 May 2007)

My feeling is that there are quite a number of investors in loss.  Being the month of May/June some investors are selling out for Tax losses.  Buyers know this hence they are on the fence atm.  Very clever.


----------



## captjohn (29 May 2007)

chris1983 said:


> Its sad to see my beloved Bannerman suffering off very small volume.  I hope you guys are okay.  No negatives have been produced but sometimes that isn't enough for the market.  I don't know what to say except I wont be selling?




Go Nukes knee caps have been broken by the debt collectors !!

$3 -ish is supported by high on jan. 24 th.

I reckon the short sellers are biding time until those drilling results come in for the depths to 200 meters.
Also
whenever there is a big share issue at lower price.(eg. canadians)...the market often takes sp  down & below that level.
Otherwise we can always say management  sold 'em to (the instos) too cheap!!
I'm not concerned about this drop of 5 or 10%..... ....but gee this rope around my neck is getting itchy!!


----------



## Broadside (29 May 2007)

chris1983 said:


> My feeling is that there are quite a number of investors in loss.  Being the month of May/June some investors are selling out for Tax losses.  Buyers know this hence they are on the fence atm.  Very clever.




I don't know...there would be a few in a loss position, but not many, looking at the run this has had over 12 months....I think it is just a little jittery in the market at the moment, people jumping at shadows.  I'll be hanging on too, medium-long term I still believe this could be outstanding.  It is possible there will be some tax loss selling but I imagine the amount of profit taking post June 30 could be significantly larger....


----------



## Rafa (29 May 2007)

Broadside said:


> It is possible there will be some tax loss selling but I imagine the amount of profit taking post June 30 could be significantly larger....




Very good point... 

If there isn't a rapid bounce from these levels soon, you would have to say the long term uptrend HAS been broken


----------



## chris1983 (29 May 2007)

Broadside said:


> It is possible there will be some tax loss selling but I imagine the amount of profit taking post June 30 could be significantly larger....




I still think it is very possible for Tax loss selling.  There is still a large amount of holders who have bought in above $3.  There would definately be investors taking profit I dont deny that but the volumes pushing the price down have been small.  Why buy in when you know some guys are trying to offload.  To me I think thats whats happening.  I believe profit taking right now is not the thing that is happening.  Why sell now if you are in a large profit?  So you can pay more Tax?  Doesnt make sense to me.


----------



## Broadside (29 May 2007)

chris1983 said:


> I still think it is very possible for Tax loss selling.  There is still a large amount of holders who have bought in above $3.  There would definately be investors taking profit I dont deny that but the volumes pushing the price down have been small.  Why buy in when you know some guys are trying to offload.  To me I think thats whats happening.  I believe profit taking right now is not the thing that is happening.  Why sell now if you are in a large profit?  So you can pay more Tax?  Doesnt make sense to me.




I am not saying there is profit taking now, what I am saying is that profit taking in July could potentially dwarf loss taking now and in June, given the performance of this stock the past year or so.  Having said that, there is so much potential good news that it is a dangerous game to be out of the stock in the hope it will come back a little, I am happy to stick with it.  Very happy to stick with it.

Nice bounce this morning by the way.


----------



## chris1983 (29 May 2007)

Broadside said:


> I am not saying there is profit taking now, what I am saying is that profit taking in July could potentially dwarf loss taking now and in June, given the performance of this stock the past year or so.  Having said that, there is so much potential good news that it is a dangerous game to be out of the stock in the hope it will come back a little, I am happy to stick with it.  Very happy to stick with it.
> 
> Nice bounce this morning by the way.




Yeah I saw the bounce.  I think it was one buyer for 100 k shares.  He wasn't messing around.  I guess he saw it as a good opportunity to accumulate a large holding.  Its definately going to be interesting..I still only believe in one direction for the stock hence why I wont sell.


----------



## FinalFantasy (29 May 2007)

"The Company proposes to issue
2,800,000 fully paid shares at an issue price of $3.10 per share."
"The placement is expected to close by June 7th. On closing, the fully diluted capital of the
Company will increase from 147,000,017 securities to 149,800,017 securities."

Is that the reason why it's down to the price it is at now?


----------



## Rafa (29 May 2007)

I thought we were told the company has enough cash for the forseeable future... is this in addition to the Canadian placement???

I didn't expect a raising for another few months


----------



## chris1983 (29 May 2007)

Rafa said:


> I thought we were told the company has enough cash for the forseeable future... is this in addition to the Canadian placement???
> 
> I didn't expect a raising for another few months




I think they do have more than enough money but they obviously saw a need for more cash and probably thought expanding via Canadian investors wasn't a bad idea.  They might want to get a stronger exploration program in place.  Maybe ramp up exploration on their Botswana tenements?  I honestly think they are doing the right thing.  They have survived on limited funds for long enough.  A raising at that price is nothing to be cross about?


----------



## greggy (29 May 2007)

chris1983 said:


> I think they do have more than enough money but they obviously saw a need for more cash and probably thought expanding via Canadian investors wasn't a bad idea.  They might want to get a stronger exploration program in place.  Maybe ramp up exploration on their Botswana tenements?  I honestly think they are doing the right thing.  They have survived on limited funds for long enough.  A raising at that price is nothing to be cross about?



The placement will allow BMN to continue its aggressive exploration program.  It also highlights the fact that there are plenty of investors trying to get on board.  Its been amazing how this stock has had such a great run over the last year or so.  BMN's management really know how to increase shareholder value.  
DYOR


----------



## chris1983 (29 May 2007)

hahahaha go the captain!!  Read this.  Captjohn gets a mention

http://www.stockinterview.com/News/05292007/Namibia-Uranium.html


----------



## captjohn (29 May 2007)

greggy said:


> The placement will allow BMN to continue its aggressive exploration program.  It also highlights the fact that there are plenty of investors trying to get on board.  Its been amazing how this stock has had such a great run over the last year or so.  BMN's management really know how to increase shareholder value.
> DYOR




Stockinterview.com have just written an article;

*"Which Aust.Companies could follow Forsys &Uramin into production"* Bannerman gets next favorite ranking.... Uramin are in takeover talks with chinese.....& articles like this get our 'pet' company into the international arena.....so that the TSX listing gets a top debut.


----------



## Go Nuke (29 May 2007)

chris1983 said:


> hahahaha go the captain!!  Read this.  Captjohn gets a mention
> 
> http://www.stockinterview.com/News/05292007/Namibia-Uranium.html




HAHAHA thats gold!!
Good on Ya Captn...keeping the Bannerman ship afloat Now tell them you have a freind who's knee caps depend on their words of wisdom getting to the people that count.....that would be those with lots of money..lol.

So much great publicity for Bannerman yet its still not reflected in their share price yet...shame

No Captn, I still have my knee caps so far.afterworking 12hrs today I really didnt need to see a low of $2.98 {or whatever it was. Too tired to look at it agian}
I think I can kiss that short term goal i had goodbye and might just have to settle to break even when or if the share price gets back up to the $3.50 mark.
Hopefully the month of June will be better.

Nothing I hold is doing much good atm..except ERN. Most are worth less than what i bought them for in Jan-Feb. But Im here for the long term.


----------



## Moneybags (29 May 2007)

Great stuff Cap'n, I'd be sticking my hand out for a pay chq from BMN publicity dept if I were you.

Guess I just thought everyone knew about BMN, but just goes to show doesn't it. Actually, I have noticed on other sites BMN has very little interest and so I come here every day to get my BMN fix.

Shame the SP is dropping and now my loss looks a little worse, but as I've said before, I'm with most here and holding long term. Go BMN.

MB


----------



## chris1983 (30 May 2007)

Down heavily off a volume of under 40,000 traded..thats gotta hurt a little.  Buyers are still holding off.


----------



## captjohn (30 May 2007)

Moneybags said:


> Great stuff Cap'n, I'd be sticking my hand out for a pay chq from BMN publicity dept if I were you.
> 
> Guess I just thought everyone knew about BMN, but just goes to show doesn't it. Actually, I have noticed on other sites BMN has very little interest and so I come here every day to get my BMN fix.
> 
> ...




The band of bannerman members on ASF are the 'Publicity Dept.', moneybags.....


Next project ;   Im  planning a trip to Namibia to do a  'uranium video documentary'......& then sell it to the chinese & russians hehehe!! 

Will need a handsome narrator with strong voice....let me know


----------



## DAZT49 (30 May 2007)

How do I insert a chart onto this onto a posting..I have forgotten.
Seems the optimism generated on this thread is inversely proportional to the SP!!


----------



## Moneybags (30 May 2007)

captjohn said:


> The band of bannerman members on ASF are the 'Publicity Dept.', moneybags.....
> 
> 
> Next project ;   Im  planning a trip to Namibia to do a  'uranium video documentary'......& then sell it to the chinese & russians hehehe!!
> ...




Cap'n,

Of course I'm handsome.......just check the avatar,hehehe. Strong voice.....sorry can't help there, I'm feeling very weak watching BMN tumble further. Why didn't I wait 

Long term all good.......

MB


----------



## Joe Blow (30 May 2007)

DAZT49 said:


> How do I insert a chart onto this onto a posting..I have forgotten.
> Seems the optimism generated on this thread is inversely proportional to the SP!!




This should give you all the information you need: https://www.aussiestockforums.com/forums/showthread.php?t=6530


----------



## DAZT49 (30 May 2007)

Some of you tech/chart boys would have seen this type of scenario.
(This is on a weekly chart)
decreasing SP.decreasing volume against a constant support level =
collapse to level equal to the height of the triangle. therefore..
$3.11 (support) - 48c (height of triangle) = $2.64


----------



## Go Nuke (30 May 2007)

DAZT49 said:


> Some of you tech/chart boys would have seen this type of scenario.
> (This is on a weekly chart)
> decreasing SP.decreasing volume against a constant support level =
> collapse to level equal to the height of the triangle. therefore..
> $3.11 (support) - 48c (height of triangle) = $2.64



HOW DARE YOU THROW NUMBERS LIKE $2.64 AROUND! Not about my Bannerman!

God I hope your wrong sorry.
Moneybags im with ya mate. We bought at the same time and are both suffering. What else can we do but wait it out.

Is there anyway we can  this thread out to the Canadians? It will become like a serious infection with the symptom to heavily invest in Bannerman based on our faith!
All we need is a good announcement to fix things up....................Are YOU READING THIS MR BATTEN??c:


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## Sean K (30 May 2007)

Go Nuke said:


> What else can we do but wait it out.



Hi Go Nuke, Have you considered taking your money out and putting it into something that is going up? Kennas


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## Go Nuke (30 May 2007)

kennas said:


> Hi Go Nuke, Have you considered taking your money out and putting it into something that is going up? Kennas




Ah no kennas mate I haven't.
Knowing very little about shares and having taken a chance here and losing, my confidence is rattled.
Nearly every share I have bought as on jan is currently down. I dont have enough experience to know when something is going to go up..or come down.

Also i have very limited funds at the moment so cant really absorb taking losses.

What would be a good example of something going up? I mean has (CAV) CARNAVALE RESOURCES LIMITED reached its top? I dunno.

I might just give the BMN thread a miss for while until i have more positive stuff to say i guess
{though I will look at the posts still}


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## chris1983 (30 May 2007)

kennas said:


> Hi Go Nuke, Have you considered taking your money out and putting it into something that is going up? Kennas




Pulling your money out of something that is fundamentally stable and pushing it into yet another company where your not sure what could happen is something very hard to do and dangerous.  You could jump from one loss to another.  I remember buying my first packets of ERN in the mid 50's to only see it 3 weeks later drop down to 40.  I had gone in quite heavy also.  I just decided to pick more up to bring my avg price to 47 as I believed in the fundamentals of the company.

Like I said Bannerman are a sound investment and everyone is saying.."doesnt matter its a longterm investment".  Is 6 months considered a longterm wait though?  To me that is short term and a lot of things are going to happen in the next 6 months such as a final resource estimate which is more than likely to be 100 million + pounds..listing on the TSX..etc etc


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## Go Nuke (30 May 2007)

Thanks for your words of wisdom Chris.
I respect many people here on ASF and their advice.

That is the 1 reason why I chose to buy more shares in BMN recently, because unlike other companies which I know little about, I was confident that BMN would go higher. I guess I was just expecting it to happen quicker with all the good talk about Bannerman.

I even contemplated today buying more and placing myself even further in debt because IMO I think $3 is cheap for Bannerman when I feel confident that the share price will eventually go up.

But I haven't bought more.

I know how good you are at picking some winning stocks Chris, perhaps next time I will ask you for some to investigate myself at investing in

Thx
GN


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## chris1983 (30 May 2007)

Go Nuke said:


> Thanks for your words of wisdom Chris.
> I respect many people here on ASF and their advice.
> 
> That is the 1 reason why I chose to buy more shares in BMN recently, because unlike other companies which I know little about, I was confident that BMN would go higher. I guess I was just expecting it to happen quicker with all the good talk about Bannerman.
> ...




Thanks for the props..I just read heavily and like making comparisons between companies.  When I first got into the stock market I borrowed 30 grand on a personal loan.  Lets just say Im more than happy to have put myself in debt for awhile.  I hope this will be the same for you.  I do feel very confident though when reading BMN's fundamentals.  I hope I'm right...i like to say I know I will be right but thats a little cocky   Anything can happen but I like to stay positive.


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## BSD (30 May 2007)

chris1983 said:


> Thanks for the props..I just read heavily and like making comparisons between companies.  .




In isolation, the problem with this type of analysis Chris is that BMN may be *relatively *inexpensive compared to some *seriously overpriced* uranium hype shares - but it could still be *absolutely *overpriced against the rest of the market. 

*Relative *vals are easy - it is harder to actually work out a *real *valuation. 

There are 150+ uranium stocks now and they are diluting the dumb punter's money. When it comes down to brass tacks it will be about GRADE, COSTS and ability to raise capital. 

How much do you reckon BMN will need to raise and how much will be from debt/equity???

If you haven't estimated this - you have no idea of the potential value of BMN stock based on fundamentals (as opposed to bullmarket BS).

BMN is going to need money and years. Many of the current holders have neither of these. 

BFS could take 18 months, financing at least 12 and building a big mine an easy 18 more if it is as big as you guess. 

Anyone care to predict the U price in 2012 - do I hear $60?

Will a low grade deposit be profitable at $60? 

How profitable?

You guys are filling pages of this site with this cr@p. Stop blowing smoke up this stock's @ss on the basis of guesses. Some guys are getting the wrong idea and are now in love (hope) with the stock and living in the red. 

Plenty of stocks have gone on the TSX to raise money (dilute) without going to the moon without good fundamental developments (WSA, MOL, EQN) - it is no easy path to riches. The Canadians aren't fools. 

We aren't always right guys, no matter how passionate we are.


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## chris1983 (31 May 2007)

BSD lets see whos right in six months time then eh   Ill quote all your posts..and we will see.  We can have a little game.  I enjoy the negatives because it gives me a sense of pleasure if and when I end up being right so lets see how it unfolds.

First of all its not only our market.  Canadian explorers very comparible to Bannerman are double/tripple/three fold/four fold the market cap of Bannerman.  Go research Uramin.  I cant do the research for you.  Go research the production costs for Rossing.  I think you should do your own work.  I allready have run all the figures.


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## BSD (31 May 2007)

Rossing was built 30 years ago

Capex will have risen a little since then and BMN does not have the balance sheet of RIO. 


I hope you are right Chris - I gain nothing either way.


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## ekman (31 May 2007)

BSD - totally agree with your comments.

The 2 members (captn and chris) are posting on this share almost every half hour. this way it dilutes the strength (if there is any) of the company by commenting positives every day. if ths company's fundas are good then the sp should run its course. hope that these guys are not suggesting the sp go up every day


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## chris1983 (31 May 2007)

ekman said:


> BSD - totally agree with your comments.
> 
> The 2 members (captn and chris) are posting on this share almost every half hour. this way it dilutes the strength (if there is any) of the company by commenting positives every day. if ths company's fundas are good then the sp should run its course. hope that these guys are not suggesting the sp go up every day





ekman give it a rest mate.  since when did I suggest it should go up everyday?  please.  I'm more concentrated on all my other stocks moving up atm.  I have made my money on Bannerman and its a long term hold for me now.  I'm replying to other posters comments.  Plus I have been writing on Bannerman every day for a long time.  Funny how all the negative people come out when a stock suffers a little bit of weakness.  When it goes up they are no where to be seen.  Like I said BSD..6 months..I read an article the other day and its about how the stock market is a game..thats what pushes me along..its like a competitive playing field against many peers.  Who can spot/pick a share before others.  Its about who can assess stocks better than others.  I think this is a driver for me and its very enjoyable along with making money.


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## nizar (31 May 2007)

BSD said:


> In isolation, the problem with this type of analysis Chris is that BMN may be *relatively *inexpensive compared to some *seriously overpriced* uranium hype shares - but it could still be *absolutely *overpriced against the rest of the market.
> 
> *Relative *vals are easy - it is harder to actually work out a *real *valuation.
> 
> ...




Solid post.
I like the concluding sentence.

For Chris its fine, hes free carried. Average price less than 0. He can only lose money if it gets delisted.

But for the others, if you havent got stopped out by now, then ask yourself, where is your stop?

If you have no stop, then, hmmmm, watch out when this bullmarket is over


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## chris1983 (31 May 2007)

Yeah we arent always right.  You gotta strive to always be right though! haha   Anyway lets see if Bannerman can break its downtrend today.  Should be interesting.


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## monaliza (31 May 2007)

chris1983 said:


> ekman give it a rest mate.  since when did I suggest it should go up everyday?  please.  I'm more concentrated on all my other stocks moving up atm.  I have made my money on Bannerman and its a long term hold for me now.  I'm replying to other posters comments.  Plus I have been writing on Bannerman every day for a long time.  Funny how all the negative people come out when a stock suffers a little bit of weakness.  When it goes up they are no where to be seen.  Like I said BSD..6 months..I read an article the other day and its about how the stock market is a game..thats what pushes me along..its like a competitive playing field against many peers.  Who can spot/pick a share before others.  Its about who can assess stocks better than others.  I think this is a driver for me and its very enjoyable along with making money.



Bannerman for long term investors,and not just Chris and Captjohn,the others enjoy reading thier posts and make money from their anylsis,see ECH from 70cts to 1.6 today in 2 month and ERN from 55cts to 1.0 today in 3 month
peoples like BSD has to realise that
1-We are long term investors not day traders.
2-We go for stock with strong fundemantal grounds,like BMN, ECH, ERN AND
   sometimes with just low marktcap with finger cross like PXRO.
3-We see uranium stocks as potionals at the moments not nickel or iron ore
   althought some investing on those stocke not a bad idea [CFD,AGM OR NIA]
   So for BSD you view aganist U stocks in general is negative regardless 
   what stock you talking about
4-BSD,there are 150 u stocks in ASX,can u please tell us which one u think is
   good one to invest in [do not tell me again BHP],we want to see your positive comment on any stock rather than the down  ramp comments you usually post against any uranium stocks,and could you please tell us which uranium stocks you hold [if you do not mind].


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## professor_frink (31 May 2007)

_"we want to see your positive comment on any stock rather than the down ramp comments you usually post"_

monaliza,
posting analysis/comments that don't agree with your own isn't downramping.


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## Broadside (31 May 2007)

chris1983 said:


> I read an article the other day and its about how the stock market is a game..thats what pushes me along..its like a competitive playing field against many peers.  Who can spot/pick a share before others.  Its about who can assess stocks better than others.  I think this is a driver for me and its very enjoyable along with making money.




Forgetting about BMN for a moment, this is what I love about the sharemarket.  Trying to see value when others don't, it's a challenge and when it goes well it is very satisfying.  

BSD makes some valid points, I do think there will be a U sector shakeout much like there has been for past boom markets - the tech stock frenzy around 2000 - and that will separate the quality Uranium stocks from the fly-by-nighters - there are a heap of U stocks on the market at the moment which have little prospect of finding Uranium let alone mining it.  They will reinvent themselves as the next flavour of the month sector in due course.  Of course all U stocks will get hit hard if the bubble bursts, but the quality stocks will bounce back quickly afterwards, because the long term trend for Uranium is very positive.  

This is where I enjoy the challenge - stock selection within this sector, and I do think BMN will be a producer together with AGS in the medium term (say 3 years).


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## Sean K (31 May 2007)

chris1983 said:


> BSD lets see whos right in six months time then eh   Ill quote all your posts..and we will see.  We can have a little game.  I enjoy the negatives because it gives me a sense of pleasure if and when I end up being right so lets see how it unfolds.






monaliza said:


> we want to see your positive comment on any stock rather than the down ramp comments you usually post against any uranium stocks,and could you please tell us which uranium stocks you hold [if you do not mind].




BSD being negative and downramping? LOL. This is the usual response when some objective comments come out that may contradict someone who has some attachment to a stock. 

Positive where positive is due. Negative where negative is due. With reason.

I was hoping there was going to be something new on this thread this morning when I noticed all the posts, but no, just the same old BMN cheer squad, coming out with the same old tosh. 

As far as picking good stocks in the U sector goes, you could have thrown 5 darts at the U board last year and made 300%. At least. Lets not kid ourselves here.


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## chris1983 (31 May 2007)

kennas said:


> BSD being negative and downramping? LOL. This is the usual response when some objective comments come out that may contradict someone who has some attachment to a stock.
> 
> Positive where positive is due. Negative where negative is due. With reason.
> 
> ...




Well I hope you picked 5 out Kennas.  Picking 5 out of how many?  I picked about 5.  Im pretty happy with that.  Not all 300%.  But all above 100% gains.  I dont see a problem in replying to BSD's post...call it the cheer squad if you want..I guess captjohn and I are the cheer squad.  I dont only post on BMN though..I pretty much post on all the stocks I own in the morning.

Heres a good example of why I probably post on BMN daily..or quite often..for example I came in the BMN thread yesterday and countered your post Kennas when you asked Gonuke if he had considered a sell out of BMN into another stock going up.  Like I said it sounds great.."put it into a stock going up"..but which stock is going to go up tomorrow?  BMN has bounced quite well IMO and if he had of taken your advise he could be further out of pocket?  Of course the decision is his own..but thats why I came in straight after saying sometimes its better to stand by the fundamentals.

Monaliza..I definately agree there is money to be made in the uraniums..which is why I hold a number of stocks..but I also hold

CFEO/AIMO/AGM/AOE/PNA..so I do have some disversification and it has been very rewarding.  So your right when you say its not a bad idea having some diversification.


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## captjohn (31 May 2007)

Broadside said:


> Forgetting about BMN for a moment, this is what I love about the sharemarket.  Trying to see value when others don't, it's a challenge and when it goes well it is very satisfying.
> 
> BSD makes some valid points, I do think there will be a U sector shakeout much like there has been for past boom markets - the tech stock frenzy around 2000 - and that will separate the quality Uranium stocks from the fly-by-nighters - there are a heap of U stocks on the market at the moment which have little prospect of finding Uranium let alone mining it.  They will reinvent themselves as the next flavour of the month sector in due course.  Of course all U stocks will get hit hard if the bubble bursts, but the quality stocks will bounce back quickly afterwards, because the long term trend for Uranium is very positive.
> 
> This is where I enjoy the challenge - stock selection within this sector, and I do think BMN will be a producer together with AGS in the medium term (say 3 years).




Very well stated Broadside.......chris & I have been getting flack here & a' broadside of cannonfire ' from the mutinous crew here!! 
BSD wonders where the $$$ will come from to build a mine..answer....the Chinese or Russians!!.please take 10 minutes to read articles in Stockinterview.com 


News article today on FN Arena ; states in U.S & Canada Uranium stocks are still consolidating while analysts (try to)  work out which ones  have resources that can produce near term!!(3-5 years) .
  Annually the current worlds nuclear reactors require 180 mill.lbs & only 100 mill.lbs is being produced... the shortfall is being  made up fromU.S. & Russian Nuclear warheads & supply  runs out in 3 years....then what???

 This uranium market is here to stay for decades IMO !!look how many countries want reactors built to generate electricity for their people!! 

 meantime bmn keep drilling @ full steam ahead to confirm depths to 200 plus meters....I can wait!!!


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## jj0007 (31 May 2007)

The discussions here go around and around in circles.  Raising the same questions over and over again and getting the same response 

If you want to know how economical BMN could be then I recommend you have a read of the Forsys PFS on Valencia.  Crappy grade but can still sustain an IRR of 70% based on U price of $75lb.


Comfortably holding.


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## captjohn (31 May 2007)

jj0007 said:


> The discussions here go around and around in circles.  Raising the same questions over and over again and getting the same response
> 
> If you want to know how economical BMN could be then I recommend you have a read of the Forsys PFS on Valencia.  Crappy grade but can still sustain an IRR of 70% based on U price of $75lb.
> 
> ...




Yes of course  jj007,you put it so sorta logically; blind freddy can do research on bmn & realise they have a 'massive' resource coming up.!!.a few months & the canadians will be on board ..& then  aussie investors will.
 go Dah.Dah!!...gee IshouldA BEEN ON THAT !!..
again I'm in early &  one day I'll say ...I told you so !!!


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## bliimp (1 June 2007)

BSD said:


> Anyone care to predict the U price in 2012 - do I hear $60?
> 
> Will a low grade deposit be profitable at $60?




BSD ... I would be very interested to get your rationale behind a $60 U price in 2012 ... Have you based this figure on expert opinion ... If so, from what source? ...  Or are you 'plucking a figure from the sky'.

I can appreciate that you may be doing some "what-if" analysis ... but where is your rationale behind the $60/lb price?

Let's face it ... Will BHP be profitable at a nickel price of US$10/lb (instead of the current US$23) or an oil price of US$25/barrel (instead of current US$64)? ... I mean, heaven forbid ... Do we sell our BHP shares ... just in case!


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## jj0007 (2 June 2007)

bliimp said:


> BSD ... I would be very interested to get your rationale behind a $60 U price in 2012 ... Have you based this figure on expert opinion ... If so, from what source? ...  Or are you 'plucking a figure from the sky'.




Just a figure plucked out of thin air.  Same as the experts that predicted POG would go back to $300 *three *years ago.
Put it this way...if the Chinese economy tanks we're all stuffed.  Regardless of whether you are holding metals, techs, banks etc.


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## Sean K (2 June 2007)

bliimp said:


> BSD ... I would be very interested to get your rationale behind a $60 U price in 2012 ... Have you based this figure on expert opinion ... If so, from what source? ...  Or are you 'plucking a figure from the sky'.



 I've actually seen $40 talked about by this time. Sorry, can't find reference. Rationale is all the U production coming on line from 2010 ish. OD expansion will tripple output, Cigar Lake should be fixed (big maybe), Jabiluka will open up, all that U in the ground in WA and QLD will 'probably' be available, possibly 3 new mines in SA, and there's 3 potential new mines in Namibia and Zambia that I can think of. This all occurring around the same time. While the price looks to certainly increase short term, by the 2010s it's going down. And if we have a nuclear disaster somewhere, all bets are off!!! Lots of IFs but, the price is more likely to be coming off IMO.


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## BSD (2 June 2007)

I was being optimistic using $60lb and didnt simply 'pull it out of the air'

I have a forecast for 2012 from a very recent insto research note of $40lb. 

The Uranium market is forecast to be in surplus in 2009 and oversupplied by over 7000 tonnes in 2012

In the period between 2010 and 2011 - new mine production increases by over 6,000 tonnes per annum

Not the sort of fundamental research that sells newsletters; but important nonetheless


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## nizar (2 June 2007)

kennas said:


> I've actually seen $40 talked about by this time. Sorry, can't find reference. Rationale is all the U production coming on line from 2010 ish. OD expansion will tripple output, Cigar Lake should be fixed (big maybe), Jabiluka will open up, all that U in the ground in WA and QLD will 'probably' be available, possibly 3 new mines in SA, and there's 3 potential new mines in Namibia and Zambia that I can think of. This all occurring around the same time. While the price looks to certainly increase short term, by the 2010s it's going down. And if we have a nuclear disaster somewhere, all bets are off!!! Lots of IFs but, the price is more likely to be coming off IMO.




Dont forget about Kazakhstan, as people often do.
Massive production coming online between 2008-2010.


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## scorpio7174 (2 June 2007)

All of you have talked about the increase in supply coming on line over the next few years....but has anyone mentioned the increase in demand? How many nuclear reactors are planned globally over the next 5 years? How many countries are considering the shift to nuclear power? If the global warming debate becomes more and more accepted, more and more governments will accept that nuclear power is the only feasible alternative.....wind, solar, wave power etc will always have a place but for large scale power generation, nuclear is the only choice. 

What you also need to keep in mind is that the cost of yellowcake itself represents only a very small part of the overall cost of operating a nuclear plant. Therefore we could see price rises to $300+ per pound and still not be a deterrent in the viability of a nuclear power plant.

IMO it's either accept nuclear power, or shiver in the dark.


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## chris1983 (3 June 2007)

scorpio7174 said:


> All of you have talked about the increase in supply coming on line over the next few years....but has anyone mentioned the increase in demand? How many nuclear reactors are planned globally over the next 5 years? How many countries are considering the shift to nuclear power? If the global warming debate becomes more and more accepted, more and more governments will accept that nuclear power is the only feasible alternative.....wind, solar, wave power etc will always have a place but for large scale power generation, nuclear is the only choice.
> 
> What you also need to keep in mind is that the cost of yellowcake itself represents only a very small part of the overall cost of operating a nuclear plant. Therefore we could see price rises to $300+ per pound and still not be a deterrent in the viability of a nuclear power plant.
> 
> IMO it's either accept nuclear power, or shiver in the dark.




Nice to see a positive view or contrasted view to the predicted spot prices of $40lb and $60lb.  These views aren't backed up with enough evidence IMO but its good to see some other opinions.  I personally think the spot uranium price will run above $200lb.  All this bearish action towards uranium..hmm guys the uranium bull is here to stay for the time being.  There will be no relief in the short term in regards to supply.  Demand is still growing daily.  While you are predicting falling uranium prices I'll be there riding the bull and making money.  The key as stated earlier will be picking the quality uranium stocks.  Even explorers that will never produce a thing will still ride this bull for some time yet IMO.

As posted by Julie in the Erongo thread the spot price of uranium continues to rise.

http://www.stockinterview.com/News/06022007/Uranium-Auctions-Higher-Price.html

It is now US$138/pound

Everything is going as planned for Bannerman.  As you guys are watching the charts your ignoring the future fundamentals of the company.


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## chris1983 (3 June 2007)

kennas said:


> I've actually seen $40 talked about by this time. Sorry, can't find reference. Rationale is all the U production coming on line from 2010 ish. OD expansion will tripple output, Cigar Lake should be fixed (big maybe), Jabiluka will open up, all that U in the ground in WA and QLD will 'probably' be available, possibly 3 new mines in SA, and there's 3 potential new mines in Namibia and Zambia that I can think of. This all occurring around the same time. While the price looks to certainly increase short term, by the 2010s it's going down. And if we have a nuclear disaster somewhere, all bets are off!!! Lots of IFs but, the price is more likely to be coming off IMO.




One thing I can add to this is I dont think Australia will produce as much yellowcake as you think from around 2010ish.  How long does it take to develop a mine here in Australia.  They are years and years away from stemming demand with Australian uranium.  The only short term players coming in to help stem demand will be a few projects in Africa.  Right now those projects are desperately needed.  Below is some extracts I have taken from the latest report of $138lb from stock interview.

_"During a phone call Friday night, we caught TradeTech chief executive Gene Clark between flights (he was on his way to Athens, Greece to make his presentation at the World Nuclear Fuel Market conference). “We issued a conservative increase to US$138 because Friday’s bids have not yet been announced,” Clark told StockInterview.com. “Our sources provided us with guidance of $138, but we believe the final sale could reach well over US$140/pound.” Clark cautioned, “Each auction has taken the spot uranium price higher, and we anticipate this could again occur at the June 12th auction.”

What then happens after June 12th? That’s when yet another auction – the third in less than two weeks – plans to offer 125 thousand pounds of U3O8.

TradeTech increased the consulting service’s long-term U3O8 equivalent price indicator on Friday to US$95/pound. This has been the market’s only month-end long-term price indicator reported, which others tend to utilize or report as their own.

According to Treva Klingbiel, “Long-term demand remains strong with 14 utilities seeking offers totaling approximately 26 million pounds U3O8 equivalent for delivery in 2007 – 2018.”"_

ATM there are 14 utilities driving the strength for long-term demand.  I think this number of utilities will increase by 2010.  Hopefully all those new mines are developed and all the expansions take place as you mentioned otherwise the price for uranium is looking to be substantially higher from todays current levels.  I think with all the new mines you mention they will still only be able to just cope with the growing demand.


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## nizar (3 June 2007)

Chris i think that uranium spot price will continue to increase this year and maybe into next year and we may well see a blow off top at 200-300 dollars.

But i think in 2009-2010 we will see a gradual easing of the price and by 2010 it will be under us$100/lb for sure in my opinion as new supply is coming. Isnt some demand at last priced in as the price went from us$7-us$133??

But You think it will be higher than current in 2010?? Then when will it stop going up? Never??

Please consider Supply-demand dynamics, my friend (especially the supply part )

I still hold some uranium stocks so i really wish the spot price can go to 500-1000 or us$10,000. But im just trying to take a rational view.

Not trying to downramp by any means.


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## chris1983 (3 June 2007)

nizar said:


> Chris i think that uranium spot price will continue to increase this year and maybe into next year and we may well see a blow off top at 200-300 dollars.
> 
> But i think in 2009-2010 we will see a gradual easing of the price and by 2010 it will be under us$100/lb for sure in my opinion as new supply is coming. Isnt some demand at last priced in as the price went from us$7-us$133??
> 
> ...




Nothing wrong with your opinion Niz.  I was just giving my own opinion too.  2010 isn't too far away so I'm just wondering where all the extra supply will come from.  Yes I think it is possibile it could be higher at that time.  How long does it take to build a mine?  We are allready half way through 2007. You can think it will be under $100lb.  I was just giving a contrasted view to the prices stated earlier of 40lb and 60lb.  It has been stated on stockinterview that long-term demand is intact.  When the uranium price starts to falter I'll start to assess things further then but atm I'm bullish on uranium.  From now till 2010 is a long time in the market and I'll make money from now till that time.


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## champ2003 (3 June 2007)

Guys the way that i look at it is that a similar pattern will emerge to what happened with the oil price when it peaked at around 78 dollars. The oil price then dropped around 29% and has since recovered very nicely due to demand being strong. The u308 case will be a similar story in my opinion so when it does peak don't expect it to come crashing down in a heap as demand will always remain strong and it's getting stronger year on year. I somehow can't imagine U308 going to $250- $300 and then down to $60. Get real!!!!


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## bliimp (3 June 2007)

In terms of uranium price into the future, the "expert opinion" that I am relying on implies that "_the real inflection point comes after 2013, with the end of the Megatons to Megawatts program, which converts Russian nuclear warheads to nuclear fuel_"

No doubt there are "_experts_" and there are "_experts_"!!! ... BSD's expert opinion implies a price of $40/lb from 2012! ... how can "_experts_" sit at extreme opposite ends? 

I firmly believe that the market essentially reacts to "today's problem" and not to "tomorrow's problem" ... I mean, at the current rate of oil consumption and given the "peak oil theory" you would think that oil should be priced at $1000 per barrel ... but this is not the case.

So I suppose, that all BMN holders should form their own opinions based on "_expert_" advice as to what the uranium price will be into the future ... but generally speaking,  I get the impression that "_today's uranium price_" is one of the best indicators as to BMN's "_current price_" ... and given that the uranium price has increased again at end of last week, then BMN's price should probably increase again this week!


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## the barry (4 June 2007)

With paladin withdrawing from one takeover race, anyone care to venture a guess as to when they will come knocking on bannermans door?


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## jj0007 (4 June 2007)

Too early at this stage.  I reckon most predators would sit on the sideline and wait for resources to be firmed up a bit more.  Once the resource risk is eliminated then they can put some sensible value for a TKO.

Would be a very risky proposition to make a TKO at this stage.  But obviously would get them "cheap"  :


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## DAZT49 (5 June 2007)

I am sure I made this posting but it seems to have dissapeared..
Perhaps this should be on a different thread but I am interested in the views of the Captn, Chris 1983 and some others whos informed postings and opinions I respect.
What do you guys think of Aussie geothermal stocks such as GDY,GRK,EDE etc.
I only have a small (20k) lot of BMN so I am thinking of bailing out.


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## Go Nuke (5 June 2007)

DAZT49 said:


> I am sure I made this posting but it seems to have dissapeared..
> Perhaps this should be on a different thread but I am interested in the views of the Captn, Chris 1983 and some others whos informed postings and opinions I respect.
> What do you guys think of Aussie geothermal stocks such as GDY,GRK,EDE etc.
> I only have a small (20k) lot of BMN so I am thinking of bailing out.




Ahhh the one word in the English language I dislike............ONLY!

If 20k is small to you then you wouldn't even see my shares for sale..lol.

Right now I couldn't blame you for bailing out, but IMO I think you would be leaving alittle too soon.
Nambia is really the hotspot for Uranium at the moment and with the Nambian government restricting the number of mining permits I still believe this will work in BMN,ERN,DYL etc etc favour.
Australia still seems to be so anti Nuclear and there is still no guarentee that U mining will go ahead in some states. W.A for example. {though I did read in the Courier Mail on the weekend that Rio is looking to go ahead with its Kintyre mine reguardless}

Best of luck whatever you decide mate
GN


----------



## Rafa (5 June 2007)

This is one very chart that is looking rather ill... i have found a possible long term trend line which i hope this stock doesnt fall thru...

Kennas, please check if this trend line is valid... (i don't have the best charting tools at my disposal...)... Check out the MACD!!!


----------



## Sean K (5 June 2007)

Rafa said:


> This is one very chart that is looking rather ill... i have found a possible long term trend line which i hope this stock doesnt fall thru...
> 
> Kennas, please check if this trend line is valid... (i don't have the best charting tools at my disposal...)... Check out the MACD!!!



I normally try and hit as many bottoms as possible to find support. That would take the line up through about the $3.10 mark. Others might not see it that way. Probably depends on how much you're attached to the stock.  My next support is between $2.50 and $2.90, ish. So _around _$2.75 ish. The only clear support line there is $2.50 IMO, but it could be supported anywhere between there and $2.90. I'll personally be looking to pick some up in the green circle, pending price action, general market conditions, or anns.  

(note: TA is about probabilities, not certainties - contrary to how fundies think )


----------



## DAZT49 (5 June 2007)

Nuke...yeah I know....Im staying.(but I am pissed off with the SP)
I agree with Kennas trend line, got to hit as many bottoms as possible.
My $2.64 post of 30th is looking good/BAD.


----------



## DAZT49 (5 June 2007)

Where is the crew of the good ship Bannerman?? Capn John etc. i hope they arn't up the front with Leonado and Kate!!


----------



## chris1983 (5 June 2007)

DAZT49 said:


> Where is the crew of the good ship Bannerman?? Capn John etc. i hope they arn't up the front with Leonado and Kate!!




haha.  Still here.  I'll start posting again when Bannerman heads up.  My stock is free carried untill production so i dont really care   No way this one is going broke.  Im quietly confident.  Just cant be bothered arguing the point with other posters that Bannerman is a good longterm investment.  These small volume sell offs don't bother me.  Been through it before.


----------



## the barry (5 June 2007)

chris1983 said:


> haha.  Still here.  I'll start posting again when Bannerman heads up.  My stock is free carried untill production so i dont really care   No way this one is going broke.  Im quietly confident.  Just cant be bothered arguing the point with other posters that Bannerman is a good longterm investment.  These small volume sell offs don't bother me.  Been through it before.




I am going to reassese my position after the jorc is determined in december. Until that date they are locked away in the bottom drawer. If they get to the mid 2.80 mark i will pick up one last parcel and sit from there. The rising U price, consolidation and canadian listing are more than enough reason for me to hold on. Obviously not happy with the current shareprice, but still more than confident for the long term.


----------



## chris1983 (5 June 2007)

the barry said:


> I am going to reassese my position after the jorc is determined in december. Until that date they are locked away in the bottom drawer. If they get to the mid 2.80 mark i will pick up one last parcel and sit from there. The rising U price, consolidation and canadian listing are more than enough reason for me to hold on. Obviously not happy with the current shareprice, but still more than confident for the long term.




As posted on the Erongo thread.

*Uramins deposit below.*

_Inferred Mineral Resource of 139.2 million pounds U3O8 (*502 million tonnes at a grade of 0.013%*), both estimated using an *80-ppm cut-off grade*. Trekkopje is expected to become one of the world’s ten largest uranium mines when it achieves production_

_*130 ppm average.*_

*Forsys deposit below*

_100 ppm cutoff 160ppm avg for 41.1 million pounds of uranium_

Its pretty obvious to see these low grade large tonnage deposits are worth money.  Aussie investors just need to come around to the idea.  Thats the reason why Bannerman are allready wanting to move onto the TSX.  Re-rating will occur once this happens.

*Uramin Market Cap - 1,930,997,638 CAD
Forsys Market Cap - 461,693,565 CAD*


----------



## Captain_Chaza (5 June 2007)

Captain_Chaza said:


> Ahoy Capt John
> 
> You refered to 2 options in a previous posting
> Option #1 $ 20.000 invested on the BNM
> ...





As my ex used to say
When you are  good ?  You are Very Good!
When you are bad?   You are Very Bad

I used to say "That's just me!"
"That's just the sort of Guy I am"

If we can't learn from history ?
Then where do we learn?

Has anyone done the figures above BMN v's 9 ????LOL!
All at the same time 
All at the same time of posting this post ?


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## DAZT49 (5 June 2007)

Chris 1983
I too was in at the start and got my parcel for xcents/share as well as the options. So I am WAY in front. 
Sold some to buy a couple of other shares..they went nowhere BMN went up $$$ 
Still not happy about the SP tho!!
Did you see my earlier post re geothermals? Interested in your thoughts.
Email me if you dont think it should be in this thread.
Thanks


----------



## jj0007 (5 June 2007)

RIO Tinto recently did a Uranium seminar.  Their webcast can be obtained from their website.

http://www.riotinto.com/media/speeches_6355.asp

Enjoy!


----------



## monaliza (6 June 2007)

SMH posted article today perdicting tht Uranium Price will reach $200/IB
after 2 years,and nucler warhead dismantel will not off set the shortagee in uranium,the sources for that the study is *MAQUARY BANK*.

http://www.smh.com.au/news/business...y-soar-to-us200/2007/06/05/1180809516546.html


----------



## DAZT49 (6 June 2007)

This is lifted from a post on HC.
In the current June issue of Resource Stocks magazine, Peter Bannen is interviewed. Some excerpts of the interview include;

Q: What are your timelines to take you into production?

A: We are keeping things pretty tight and some think that's a little optimistic because we operate in Africa and there is the impression that 'well, this is Africa'. We will complete a scoping study in the next 12 weeks and in the interim continue drilling until the end of the year. We will produce a complete measured and indicated resource this year and then expect to immediately go to a bankable feasibility study next year. That will last for nearly the whole of 2008 and there will be other drilling onsite on some of our other projects. At the end of 2008 we will make a decision on development, and the development will take a period of 18 months that will put us into the production stage by the second half of 2010.

Q: There has been some talk about a TSX listing for Bannerman, where is this at?

A: We haven't actually decided if we will TSX list or not. We will be be spending time with the North Americans over the next couple of weeks and the idea is basically that the capital available on the TSX is a step up from Australia. The Canadians understand high tonnage-low grade uranium deposits and are very knowledgeable on Africa, and very bullish about projects like ours. Some people say with a $500 million market cap you may have already had your run, whereas the Canadians look at where we are now as an entry point to take a step up.


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## chris1983 (7 June 2007)

The raising closes today to North American and European institutional
investor clients.  It will be very interesting to see if they raised the money at 3.10.  Will be interesting to see how the SP reacts if they do raise the money at 3.10.  They even had a Consortium of European and Scandinavian Investment Funds purchasing a significant stake in company at 3.16 a share so I believe BMN is very oversold atm.


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## the barry (7 June 2007)

A couple of big orders going through with someone looking to pick up 200+ thousand at 2.85. Hopefully this will determine a level of support before the next run up.


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## DAZT49 (7 June 2007)

i cant see that order... now at 2.88 -2.89 Better  volume today but still little league i.e. no momentum


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## chris1983 (7 June 2007)

DAZT49 said:


> i cant see that order... now at 2.88 -2.89 Better  volume today but still little league i.e. no momentum




Its turning over some good volume today.  Like I said it will be interesting to see if they raised the funds at 3.10 to international investors.  My guess is that they did.  I still stand by my words that we need high tonnage low grade deposits to help supply.  Thats why I'm invested in a number of these type stocks.  Good luck to the longs.


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## the barry (7 June 2007)

DAZT49 said:


> i cant see that order... now at 2.88 -2.89 Better  volume today but still little league i.e. no momentum




How can you not see that order. It's been sitting there all day. Its the one next to the 2.85 that presently states 3 orders at 231,038.


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## DAZT49 (7 June 2007)

oh yeah ,sorry Baz I thought you meant a single order. 
More punters lined up on the buy side than of recent times..'demand'!!
Roll on Friday..could be a good one.
Nice to finish the day with a green candle!!


----------



## Go Nuke (8 June 2007)

Ha ha
Out of entire watchlist....only BMN is green..wow.

Lets hope it stays that way for the rest of the day.
IMO definitely oversold when it gets into the $2.80's


----------



## Pommiegranite (12 June 2007)

Further proof that Namibian Uranium is sought after.  Uramin seem to be about 2 years down the track from where Bannerman is now.

I reckon BMN will be made an offer sooner rather than later, to avoid any prospective buyers having to pay an extra premium.


http://yahoo.reuters.com/news/artic...6-11_20-54-20_L11698656&type=comktNews&rpc=44


AND...


                                  UraMin Inc.
                           ("UraMin or "the Company")


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
                                    SERVICES


           UraMin in Negotiations Regarding Potential Sale of Company


UraMin Inc. ("UMN" TSX and AIM) announces that it is in negotiations with
respect to a potential sale of the company. No assurance can be given that the
negotiations will be successful.


For further information:

Nominated Advisor
Canaccord Adams Limited
Robin Birchall
Tyler Broda
Tel: +44 20 7050 6500


----------



## Go Nuke (13 June 2007)

Yes....I see noone wants to talk about how badly things are going at the moment

God everything looks dreadful today.
Oh except MTN.
Shame i dont hold. It seems to be defying the downward trend in Uranium at the moment


----------



## chris1983 (13 June 2007)

Go Nuke said:


> Yes....I see noone wants to talk about how badly things are going at the moment
> 
> God everything looks dreadful today.
> Oh except MTN.
> Shame i dont hold. It seems to be defying the downward trend in Uranium at the moment




AOE and CFEO are doing alright   BMN are definately in a slide atm.  Ive done all my number crunching though and I'll continue to hold.  There has been no exploration updates which would be ticking a few investors off.


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## DAZT49 (13 June 2007)

I think we are in a state of torpor....choking and gagging.
 All my stocks have gone thru the floor


----------



## chris1983 (13 June 2007)

DAZT49 said:


> I think we are in a state of torpor....choking and gagging.
> All my stocks have gone thru the floor




all?  hmm.  a lot of mine went down today but they held okay.  BMN didnt perform the best today.  I guess we have to see what the DOW does overnight.  Hopefully not another big drop?


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## Caliente (13 June 2007)

Chris - the banners is looking well and truly ill. One would think we have to hold tight for the next announcement in about 9-10 weeks from now.


----------



## chris1983 (13 June 2007)

Caliente said:


> Chris - the banners is looking well and truly ill. One would think we have to hold tight for the next announcement in about 9-10 weeks from now.




With myself its not too worrying as I'm free carried.  I can understand other holders being upset though and now losing in the short term scheme of things.  I made a decision to hold long on the rest of my holding awhile ago.  Don't you worry the directors will be watching the SP too.  Nathan Mcmahon topped up at 2.70 before it went on a run.  Its nearly back down to that level.  The scoping study announcement is around 7-8 weeks away.  We have a 6 month wait untill a final resource estimate is released.  Put them in the drawer and dont watch them would be my suggestion to current share holders.


----------



## FinalFantasy (14 June 2007)

^ yeah i agree; if you buy a truly good share, one that really shows performance then you don't need to worry just buy it den dun look at it all da time. (for people who are interested in buying that share for long term)


----------



## Caliente (14 June 2007)

hey, no doubt - I've been holding banners the second or third longest time period in my portfolio. 

Just dreadful to see the price slip away like this on such a quality stock.


----------



## drmb (15 June 2007)

Caliente said:


> hey, no doubt - I've been holding banners the second or third longest time period in my portfolio. Just dreadful to see the price slip away like this on such a quality stock.




Can't understand why BMN is flopping today, any reasons? Why is it suddenly being treated like a rock?


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## chris1983 (15 June 2007)

drmb said:


> Can't understand why BMN is flopping today, any reasons? Why is it suddenly being treated like a rock?




Okay I dont usually go back in and buy a stock.  Usually I leave it free carried but I have switched my holding around.  I sold half my ERN today so that they were free carried and to lock in profits.  I have pushed the funds back into Bannerman.  I picked up a reasonable amount.  Good luck to the longs.


----------



## Broadside (15 June 2007)

chris1983 said:


> Okay I dont usually go back in and buy a stock.  Usually I leave it free carried but I have switched my holding around.  I sold half my ERN today so that they were free carried and to lock in profits.  I have pushed the funds back into Bannerman.  I picked up a reasonable amount.  Good luck to the longs.




I bought a few today as well at $2.71, hopefully it has bottomed out.  The story remains intact if and when sentiment turns it should reach new highs.


----------



## nizar (15 June 2007)

drmb said:


> Can't understand why BMN is flopping today, any reasons? Why is it suddenly being treated like a rock?




LOL suddenly?
Are you joking?

This has been a dog for more than a month.
Solid downtrend.
Thats not my opinion. Thats fact.

But dont worry they have JORC of 199999999999999 LB.
Rememebr guys -- if the share price doesnt go up you dont make money, regardless of what the company has.


----------



## chris1983 (15 June 2007)

nizar said:


> LOL suddenly?
> Are you joking?
> 
> This has been a dog for more than a month.
> ...




Niz..you buy and sell based on trends?  Whats your average % gain on those profits.  You trade the SP and manage to make 20%..here and there..sometimes losses.  I have had about 5 stocks with 100% profits or greater.  Two of those stocks are 400% or greater.  We invest differently.  I know the value of BMN.  It isn't showing in the SP right now but I ignore the trends.  Maybe its something I need to change but it has worked for me so far.  Chartist would look at BMN in shock...but im still very confident with them.


----------



## Broadside (15 June 2007)

nizar said:


> LOL suddenly?
> Are you joking?
> 
> This has been a dog for more than a month.
> ...




Depends on your time horizon, if you believe the stock represents value you accumulate on weakness and hope to get it near the bottom, time will tell if today is the day or too soon to pick up some more, but I think around this price it looks compelling.


----------



## DAZT49 (15 June 2007)

Chris,Nizar,Moneybags,Co Nuke (the Captn is away i know) etc
Check out my post #1890 on 30/5/07!!
(ok I was out by 1c!!)


----------



## hacheln_mice (15 June 2007)

I'd only be interested in this thing if the price signals a turnaround.  For now, this is a clear dog of a stock.  Guess it is true when they say:
------------------------------------------------


----------



## chris1983 (15 June 2007)

DAZT49 said:


> Chris,Nizar,Moneybags,Co Nuke (the Captn is away i know) etc
> Check out my post #1890 on 30/5/07!!
> (ok I was out by 1c!!)




That was a good call DAZ.  Once again as I have stated many times I'm in for the longterm though.  I feel for the investors who bought at the 3.50 mark.  It definately would hurt.  My nerves are like steel in the stocks I believe in though.  I purchased this one at 16 cents and took profits long ago.  The rest are staying there for the long haul.  I picked more up today when selling Erongo.  Reason I decided to make that move is Erongo are still an explorer and don't have a solid deposit yet unlike Bannerman.  I feel a lot safer in Bannerman than Erongo and since I had more money in Erongo as I had a large parcel it didn't make any sense to me.

Bannerman have a 27 million pound resource at 220 ppm.  These grades are better than both Forsys and Uramin.  Uramin is under take over speculation atm also and they have close to a 2 billion dollar market cap.  Their flagship project is Trekkopje which is a 139 million pound resource at 130ppm.  Bannermans 27 million pound resource is only 1/4 of the estimated resource.  Bannermans grades also increase at depth.  This is why I have held long.  This is why I have increased my holding.  The company hasnt made any wrong moves to date.  It will be interesting to see how the SP progresses over the next 6 months but in regards to how the company has been progressing everything is on target.


----------



## spooly74 (15 June 2007)

chris1983 said:


> That was a good call DAZ.  Once again as I have stated many times I'm in for the longterm though.  I feel for the investors who bought at the 3.50 mark.  It definately would hurt.  My nerves are like steel in the stocks I believe in though.  I purchased this one at 16 cents and took profits long ago.  The rest are staying there for the long haul.  I picked more up today when selling Erongo.  Reason I decided to make that move is Erongo are still an explorer and don't have a solid deposit yet unlike Bannerman.  I feel a lot safer in Bannerman than Erongo and since I had more money in Erongo as I had a large parcel it didn't make any sense to me.
> 
> Bannerman have a 27 million pound resource at 220 ppm.  These grades are better than both Forsys and Uramin.  Uramin is under take over speculation atm also and they have close to a 2 billion dollar market cap.  Their flagship project is Trekkopje which is a 139 million pound resource at 130ppm.  Bannermans 27 million pound resource is only 1/4 of the estimated resource.  Bannermans grades also increase at depth.  This is why I have held long.  This is why I have increased my holding.  The company hasnt made any wrong moves to date.  It will be interesting to see how the SP progresses over the next 6 months but in regards to how the company has been progressing everything is on target.





Chris correct me if I`m wrong, but don`t Bannerman only have a 21.6 mill lb resource as they only get 80%.


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## DAZT49 (15 June 2007)

I will be holding a 1/2 hr seminar at the local tavern to 'unleash' the secrets of the volu/price/triangular thingy. 
Unlock the powers of 'easymoney' over a few cold ones!!!
Each punter will an individual 'chart' written on a beer coaster (ok I will sign it too)
One time only price of $500($US of course, no monopoly money)
Price includes a pie and a can of VB..so hurry.
Seriously I am staying with Bmn and eventually riding of into the sunset with a bag of gold.


----------



## chris1983 (15 June 2007)

spooly74 said:


> Chris correct me if I`m wrong, but don`t Bannerman only have a 21.6 mill lb resource as they only get 80%.




spooly since when do companies report they have a 21.6 million pound resource.  Your correct in a sense but its a 27 million pound resource and they have an 80% interest in it.  Which is pretty good.


----------



## SGB (15 June 2007)

chris1983 said:


> .  I picked more up today when selling Erongo.  Reason I decided to make that move is Erongo are still an explorer and don't have a solid deposit yet unlike Bannerman. progressing everything is on




Is this the same guy thats been ramping on about ERN for so long now. Have a look at the ERN thread!!! 
No offence Chris but just wondering are you in sales by any chance!


----------



## chris1983 (15 June 2007)

SGB said:


> Is this the same guy thats been ramping on about ERN for so long now. Have a look at the ERN thread!!!
> No offence Chris but just wandering are you in sales by any chance!




Mate your pretty rude.  If you had of bought the stocks that I bought when I entered you might of actually made some money.  Hey I don't care what you think.  

Let me list some for you..which is only a few.

AOE - 60 Cents
ERN - 47 Cents
BMN - 16 Cents
ECH - 65 Cents
CFEO - 24 Cents
AIMO - 16 Cents
AGM - 35 Cents

Mate I dont care what you think


----------



## SGB (15 June 2007)

chris1983 said:


> Mate your pretty rude.  If you had of bought the stocks that I bought when I entered you might of actually made some money.  Hey I don't care what you think.
> 
> Let me list some for you..which is only a few.
> 
> ...




Sorry to offend you chris, no need to get over reactive. 
I was just trying to make a point, here is a tip.
Go over and read some of your posts.

By the way,
very nice trades you have put together.
SGB


----------



## chris1983 (15 June 2007)

SGB said:


> Sorry to offend you chris, no need to get over reactive.
> I was just trying to make a point, here is a tip.
> Go over and read some of your posts.
> 
> ...




hmm I dont understand what you are saying when you say go over and read some of my posts.  I only post based off facts and comparisons.


----------



## bliimp (15 June 2007)

chris1983 said:


> hmm I dont understand what you are saying when you say go over and read some of my posts.  I only post based off facts and comparisons.




Chris, great minds must think alike ... without reading any Aussie Stock Forum post this morning, I also sold some of my ERN and bought into BMN, just as you had done (but I still kept a small parcel of ERN). 

I have had a fantastic run with ERN (thanks to your posts and Halba's post over the last few months).

OK ... So BMN is down at the moment ... oh well, good buying opportunity!!! 

Don't let SGB throw you off with some "cheap shots" ... his comments are totally inconsequential (ie are you ramping ERN and are you in ERN sales!!! ... lol) ... and I would not even glorify SGB's comments with a response.


----------



## Yeti (15 June 2007)

Agree totally, no need to defend yourself Chris. Anyone accusing you of ramping simply has not taken the trouble to ensure they had all the facts.


----------



## greggy (15 June 2007)

SGB said:


> Is this the same guy thats been ramping on about ERN for so long now. Have a look at the ERN thread!!!
> No offence Chris but just wondering are you in sales by any chance!



SGB,

I've read many of Chris's posts and find them very informative.  To accuse him of ramping is pretty low.  He's anything but a ramper.  Being new to this forum, you must have some nerve to say such things.  If you're after rampers you'll find plenty on HC. This forum is the best by far.


----------



## DAZT49 (15 June 2007)

agree Greggy,
If you want to sling sh****t go over to HC where they are experts at it.
Chris cops a couple of whacks over there too.
Come on BMN give us a 'sign' (Monty Python type)


----------



## greggy (15 June 2007)

DAZT49 said:


> agree Greggy,
> If you want to sling sh****t go over to HC where they are experts at it.
> Chris cops a couple of whacks over there too.
> Come on BMN give us a 'sign' (Monty Python type)



High five DAZT49.
Even on the ERN thread SGB's been carrying on about Chris.  
Getting back to the main topic, I've noticed that a number of uranium stocks, including BMN, have fallen of late.  There appears to be a bit of switching going on into iron ore and oil and gas stocks of late. 
Still BMN's management is really switched on and have made many of its shareholders filthy rich.   
DYOR


----------



## Lachlan6 (15 June 2007)

OK lets detract attention away from this to have a look at the (BMN) chart briefly. Not looking pretty at the moment, with the only positive I can see being today's action which may be a reversal doji like pattern. If it was serious about reversing however in the short term, it probably should have found support at $2.90, being previous resistance turned support and the 61.8% retracement level from the March lows to April highs. 

The next support is around $2.30, corresponding to the 200 day EMA along with that other cluster of activity. I certainly would not be in (BMN) at the moment, again I am watching from the safety of the sidelines.


----------



## chris1983 (15 June 2007)

Okay now I can't argue with the chartists.  The chart is not looking pretty atm.  Chartists you win.  True value isn't within the chart though.  Like I said they currently have 25% of the resource established.  I'll quote a section from the recent June edition Paydirt which has an article on Bannerman.  This is from Peter Batten's own words.

_"This resource covers a 1.4km and 80m depth of the known mineralisation.  But we already know that the deposit extends to atleast 1.7km and, so far, over 300m below surface."_

He also states

_"We don't know how deep we can go with the deposit.  We though 250m but then the uranium price shot up past $US100/lb and that makes a massive economic difference.  We have dropped the cut-off grade from 200ppm to 100ppm to be in line with Rossing meaning this deposit can be potentially very big."_

_"We believe, at 27mlb, we have only proved up 25% of the resource.  Our target here is 100mlb and this is just the first of eight deposits we are going to tackle."_

I will attach the article for those who are interested.  I really don't know when the slide will stop but what value should be placed on a company in a uranium mining friendly country that will report a resource greater than 100mlb. Bannerman in the past have had $1 jumps in a week.  This is why I'm entering now.  I believe it to be a good level as this was a similar price to where Nathan Mcmahon last entered.  If it drops further I'll wait for the scoping study to be released and I will wait for the final resource estimate to be released at the end of the year.


----------



## the barry (15 June 2007)

Guys you have to remember, the spot price of uranium isn't expected to peak until late 2009 and estimations from the major brokers are around the 250 US mark. For the long term holders, this pony has a lot of legs left to run. It would be hard to see this company ever getting to production with all the wolves circling at the moment. Once the jorc is confirmed at the end of the year, anticipate a knock soon after. Would make a beautiful fit in the paladin stable.


----------



## Lachlan6 (15 June 2007)

Probably right Fundamentalists, the only thing we can do is try and pick where the stock might look to stop its fall and turn around. As I said from the chart, that is likely although far from being guarenteed at the 200 day EMA and if this is breached then this retracement will be more significant. At the moment, dont forget, its still only a retracement and the overall uptrend is still well in tact.


----------



## chris1983 (16 June 2007)

bliimp said:


> Chris, great minds must think alike ... without reading any Aussie Stock Forum post this morning, I also sold some of my ERN and bought into BMN, just as you had done (but I still kept a small parcel of ERN).
> 
> I have had a fantastic run with ERN (thanks to your posts and Halba's post over the last few months).
> 
> ...




Hey Blimp.  Yes great minds do think alike   I still kept half of my ERN too.  ERN grew to my second largest holding and I decided its too spec to not take any profits.  I still think the potential of Erongo is great which is why I still hold a decent parcel but if any bad results did come out they could fall further and that made me think heavily on what I should do.  I thought selling half my Erongo was the best move to make to keep my profits safe.  Its simple..say I sold 20,000 ERN.  A 10 cent drop in ERN would incur a 2 grand loss.  By selling 20,000 ERN I could buy say around 6500 Bannerman.  Bannerman would have to drop another 30 cents from this point for a 2 grand loss and they would have to completely go out for me to lose my profits which is not going to happen.  Bannerman could fall another 30 cents who knows..but since they are more advanced and actually have a large deposit I saw it as the safest option to jump into Bannerman.  In selling half my erongo I feel I have protected my profits.  So thats why I made the move. Its something I have always done..trying to protect my profits and I like to stick by it.

So I dont care about SGB.  But thanks guys for the support.  Good to know some investors on here value my posts as I also value many posts made by some of the members on here.


----------



## chris1983 (16 June 2007)

Might bounce on Monday?  See new below.

Uramins Market cap is now 2.5 billion.  This is also great news for any of the Namibian explorers IMO.  It shows great value in the land there and how it is sort after.  Bannerman In my mind should benefit most as it is the explorer that actually has a large resource atm.  I have shown you the comparisons of Uramin and Forsys all through out this thread.  Forsys also jumped 10 percent due to the action.

*News from Canada NewsWire *

*AREVA Announces US$ 7.75 Per Share Friendly Cash Offer for UraMin
09:22 EDT Friday, June 15, 2007*

    <<
    -  100% cash offer

    -  Attractive premium of 21% over UraMin 20-day average share price(1)
       as of June 8, 2007(2)

    -  AREVA and UraMin entered into a support agreement in respect of
       AREVA's offer to acquire all the outstanding UraMin shares by way
       of a take-over bid

    -  Full support of UraMin Board of Directors

    -  Lock-up agreements in respect of approximately 25% of shares

    -  An acquisition which perfectly fits into AREVA's strategy to
       significantly increase its uranium production in the medium term
    >>


_PARIS, June 15 /CNW/ - AREVA and UraMin Inc. ("UraMin") today entered into an agreement in respect of AREVA's friendly cash offer for 100% of the share capital of UraMin (the Offer"). UraMin is listed in London (AIM) and Toronto (TSX). AREVA (Euronext Paris) already owns 5.5% of UraMin's share capital.

This cash offer of AREVA will be made through its indirect wholly-owned subsidiary CFMM Développement ("AREVA") based on a price of US$ 7.75 per UraMin share. The total ofer consideration amounts to more than USD 2.5 billion for 100% of the fully diluted share capital of UraMin(3). This represents a premium of 21% over UraMin 20-day weighted average trading price(1) ending on June 8, 2007(2).

The UraMin Board of Directors, after consulting with its financial advisors, has detrmined that the offer is fair and in the best interest of the UraMin shareholders and it has resolved to recommend acceptance of the Offer. BMO Capital Markets has provided an opinion that the offer is fair, from a financial point of view, to the UraMin shareholders.

In connection with the offer, all directors and certain other shareholders rpresenting approximately 25% of the outstanding UraMin shares (calculated on a fully diluted basis) have entered into lock-up agreements with AREVA pursuant to which they have agreed to tender all their UraMin shares to AREVA's offer.

The suport agreement entered into between AREVA and UraMin provides for, among other things, in case a superior proposal is accepted by UraMin, a right to match in favour of AREVA. The support agreement also includes a break up fee in favour of AREVA of US$ 75 milion under certain circumstances.

The offer and take-over circular will be mailed to UraMin shareholders in the comin days. The offer period will be open for not less than 35 days. The offer is conditional upon, in particular, the tendering of a minimum of 75% of the outstanding UraMin's shares on a fully diluted basis, including the 5.5% shares held by AREVA.

Concurrently with the closing of the proposed offer, UraMin will declare a dividendpayable in shares of the capital of Niger Uranium Limited held by UraMin (where permitted by law) or a cash equivalent of the value of such shares. Further details will be provided at the time of the mailing of UraMin Directors' Circular.


------


"UraMin has benefited from its founders' dynamism and know-how to identify significant mining resources on the African continent. The commissioning of these assets would enable AREVA to develop and further diversify its sourcing, thereby securing its clients' long term uranium needs.

UraMin's acquisition perfectly fits into AREVA's strategy in the mining sector. It will allow combining the mining resources of both companies, as well as their respective human expertise. For AREVA, it will result into a significant increase of its uranium production in the medium term.

Through the main projects, located in South Africa, Namibia, and Central African Republic, AREVA plans to reach a yearly production of about 18mio Lbs of U3O8 by 2012. AREVA has the technical and commercial capabilities to rapidly commission UraMin projects and market its production." explains Olivier Mallet, AREVA Senior Executive Vice President of the Mining, Chemistry and Enrichment sector of AREVA.

Mr. Stephen R. Dattels, UraMin's founder and Executive Deputy Chairman said today that "UraMin's potential production capability gives AREVA the opportunity to strengthen its position as one of the largest uranium producers in the world. Combined with the integrated business model of AREVA all along the nuclear value chain, access to long-term sources of uranium will reinforce AREVA's ability to provide security of supply to its costumers. For UraMin's shareholders, the proposed offer by AREVA provides a unique opportunity to realize an attractive premium today and to participate in an exciting new uranium vehicle with drill ready properties in Niger."

Mr. Dattels went on to say, "I would like to thank the directors, management and employees of UraMin for their tremendous contribution since the inception of UraMin in 2005. Their hard work and vision enabled us to create over US$2.5 billion of market value in just over two years time, making UraMin a major success story in the mining sector."

BMO Capital Markets is acting as financial advisors to UraMin and Heenan Blaikie LLP is acting as legal counsel to UraMin.

NM Rothschild & Sons Canada Limited is acting as financial advisor to AREVA and Blake Cassels & Graydon LLP is acting as legal counsel to AREVA._


----------



## Pommiegranite (16 June 2007)

chris1983 said:


> Might bounce on Monday? See new below.
> 
> Uramins Market cap is now 2.5 billion. This is also great news for any of the Namibian explorers IMO. It shows great value in the land there and how it is sort after. Bannerman In my mind should benefit most as it is the explorer that actually has a large resource atm. I have shown you the comparisons of Uramin and Forsys all through out this thread. Forsys also jumped 10 percent due to the action.
> 
> ...




Chris,

As a holder on AIM of Uramin, I have to say I'm a little disappointed with the offer. I would have like to see UMN in production. (There's hardly any appealling Uranium on AIM I can move my cash into)

However, one thing to bear in mind is that Uramin is a couple of years ahead of BMN towards production. Its in BMN's best interests that they carry on business quietly...because a takeover now would be far to cheap.

Remember Uramin is close to a $2bill US company. BMN can run a lot further if left alone.


----------



## DAZT49 (16 June 2007)

Lachlan,
Re your chart. Like your obsevations. I would have put that lower support at $2.50 not $2.30 (thats just my observation)
That doji is signifigant, would rather it was green (closed above open)
On my chart (showing my call of $2.64 on 30/5) I show a 5 bar consolidation.
These (IMO) show the next 2 levels of resistance at $2.83 and $2.93 the next level is at $3.11 (base of my origional 'triangle of doom')
If the SP goes through those levels reasonably quickly we may have a bit of   a trend happening.(But waiting for a correction while the shorts jump off.)
The last bar straddles the bottom bollinger,and closed in the top 1/3,  a good sign but would be more signifigant with a stronger close.
Volume was up on recent days but still illiquid.
As you can see I am an optimist..no mention of Sp falling!!)
All IMHO and DYOR


----------



## DAZT49 (16 June 2007)

Nooooooo it didnt attach....................................................file too big sorry guys try this


----------



## chris1983 (16 June 2007)

Pommiegranite said:


> Chris,
> 
> As a holder on AIM of Uramin, I have to say I'm a little disappointed with the offer. I would have like to see UMN in production. (There's hardly any appealling Uranium on AIM I can move my cash into)
> 
> ...




You dont think the offer is good?  I also think Uramin could of grown larger but thats why they are taking them out now.  Take them out before they get into production.  They have the resource proved up which is what BMN has to focus on. They are 6 months away from that stage. If BMN got to a 2bill US value I would be over the moon   I guess all those Uramin holders will just have to tank their cash into BMN once they list on the TSX


----------



## spooly74 (16 June 2007)

chris1983 said:


> You dont think the offer is good?  I also think Uramin could of grown larger but thats why they are taking them out now.  Take them out before they get into production.  They have the resource proved up which is what BMN has to focus on. They are 6 months away from that stage. If BMN got to a 2bill US value I would be over the moon   I guess all those Uramin holders will just have to tank their cash into BMN once they list on the TSX




Hi Chris,

When you say BMN are six months from proving up their resource, do you mean the target of 100m lb?
I definitely agree their market cap has room to move and a listing on the TSX will improve the exposure, but I feel it will only really have legs if they can indeed prove up this resource.

Do you know what sort of drilling campaign they have and is the upgrade intended to come in one ann or gradually over the next 6 months?

cheers


----------



## chris1983 (16 June 2007)

spooly74 said:


> Hi Chris,
> 
> When you say BMN are six months from proving up their resource, do you mean the target of 100m lb?
> I definitely agree their market cap has room to move and a listing on the TSX will improve the exposure, but I feel it will only really have legs if they can indeed prove up this resource.
> ...




Spooly they are drilling now.  If you read that paydirt article I posted they believe the current resource they have reported is only 25% of what they actually have.  Final resource estimate will be out late this year.  Anyway guys im off for the day.  Have fun.


----------



## Go Nuke (17 June 2007)

Well I think thank goodness they haven't shored up more of their resource (BMN)
I'd be absolutley SPEWING if a take over offer came out now using Bannermans current share price.
It definitely would be too cheap as Pommiegranite stated.

So now that BMN's $3.10 share placement is finnished, when will Bannerman actually list on the TSX?

July,August?
Im sure it was stated roughly somewhere.


----------



## Go Nuke (18 June 2007)

RIGHT!
Finaly some green to be seen on my bannerman

Lets hope this is the turn of the tide and not another repeat of June7th&8th where it rose for a bit then continued to fall.

My chart is about 16hrs old, but you get the gist


----------



## DAZT49 (18 June 2007)

Sought of warm fuzzy feeling today!!:
Hopefully $2.77 should become support level.
RSI, MACD etc starting to nudge upwards. Volume still a trickle but up on the average of last 3 weeks.
Need a nice ann to get her cranking.


----------



## Go Nuke (18 June 2007)

**Correction to my post earlier**

Sorry It was DAZT49's prediction of $2.64 NOT Nizar

Sorry DAZT49.


----------



## the barry (19 June 2007)

Good ol' bannermans. First day the market goes down back up it goes. Follows its own path this one. Some solid buy orders starting to come in, still no volume though.


----------



## chris1983 (19 June 2007)

the barry said:


> Good ol' bannermans. First day the market goes down back up it goes. Follows its own path this one. Some solid buy orders starting to come in, still no volume though.




Yep..about time..looks like 2.70 was around the right area to top up..hopefully this is a turn around..really need some news on drilling though..its been quite some time since we last got an update.  Good luck to the longs.  Show me that 100 million pounds Banners!


----------



## DAZT49 (19 June 2007)

After the last few weeks, sweating, I go out for 20 mins and miss ALL the fun!! I was seriously thinking of jumping off today and getting into some geothermal stock...maybe i will hang around now.
Sp has gone thru the $2.83 and $2.93 barriers...roll on $3.11.


----------



## chris1983 (20 June 2007)

This mornings action shows a good reversal of the downtrend.  I hope you all held long.  Go the Banners!


----------



## Broadside (20 June 2007)

that was beautiful timing for some of us to top up the other day around $2.70, hopefully we won't see those levels again


----------



## DAZT49 (20 June 2007)

With no ann's what do you reckon is going on Chris?
Up 40c in 3 days.

Expect it to drop back as the day goes on..


----------



## the barry (20 June 2007)

Broadside said:


> that was beautiful timing for some of us to top up the other day around $2.70, hopefully we won't see those levels again




I topped up at the 2.85 mark, thought there was no way it would go below that. Was bleeding from every orafus for the next few days. So glad the bleeding has stopped. Long way to go yet, but sooooooooooo nice to see back in the green!!!


----------



## chris1983 (20 June 2007)

Broadside said:


> that was beautiful timing for some of us to top up the other day around $2.70, hopefully we won't see those levels again




Yeah it was a good opportunity.  I also jumped in at around that mark.  DAZ maybe they got the placement completed to Canadian investors at 3.10?  Its funny how it jumped back to that level straight away.


----------



## DAZT49 (20 June 2007)

That was a big gap opening (10c) could be a retraction later. But good signs for medium term trend.
Its not easy being green...but I like it.


----------



## Caliente (20 June 2007)

looks like the faith is paying off short term =)

As a rookie I would have panicked and pulled the trigger.

I'm hoping theres no T/O scares before they get to build a massive footprint in Namibia.


----------



## chris1983 (20 June 2007)

Caliente said:


> looks like the faith is paying off short term =)
> 
> As a rookie I would have panicked and pulled the trigger.
> 
> I'm hoping theres no T/O scares before they get to build a massive footprint in Namibia.




Yeah..my top up is looking like a great move.  BMN are amazing aren't they..they manage to go up 50 cents in a few days..if some one was holding BMN and hasn't had the chance to look at his shares for the past month he would think nothing has happened.


----------



## chris1983 (20 June 2007)

Closed on a high of 3.19 for the day.  Not a bad bounce back.  Looks to have turned the corner with that movement.  Scoping study is around 2-6 weeks away.  Really looking forward to that announcement.


----------



## bliimp (21 June 2007)

Looking at yesterday's (Wednesday) market, most uranium plays picked up quite a bit, from ERA and PDN, to BMN and MTN, to even the likes of DYL and ... WMT!

Interesting article in FN Arena today implying that 2 events have triggered the "hot money" moving back into the sector due to "renewed takeover speculation".

Event 1 - As Chris quoted a few days ago, the takeover of Uramin, the African explorer, by the French Government controlled Areva 
Event 2 - Russian billionaire Vladimir Potanin joining with the Russian Atomic Energy Agency in looking for opportunities in Africa etc

So have we recovered from the excruciating "uranium blues" that we have had to endure the past few weeks?

Is BMN merely riding this momentum .... and ready to accelerate once the scoping study is announced in the next month or so?


----------



## Sean K (22 June 2007)

Looks like it might have found a bottom around $2.75 which was considered to be general support by a few people. Well done. 

Needed to break the down trend line for a start, and then break horizontal resistance and make higher highs and lows to be officially out of the short term downward trend, and it may be close. Breaking $3.30 ish will do it although I might be a bit conservative here. Indicators all look good to me. On the downside, the gap up at $2.95 should be very good support, if there's a significant retrace.


----------



## chris1983 (22 June 2007)

News out and its some of the most encouraging news I have seen from BMN.

_Bannerman Resources Limited (BMN) is pleased to announce that the $8.68 million placement by issue of 2.8 million fully paid shares at $3.10 to North American and European institutional investor clients of Haywood Securities Inc has been finalised._

This placement was made during a time of major weakness in the SP.  Now thats some super support from the Canadians


----------



## the barry (22 June 2007)

Bannerman reports securities sold to haywoods at 3.10 per share. Will be interesting to see what this does for the share price, last lot of placements didn't prove to be to good as support levels. Hopefully this time the share can hold at this level of support, quirky coincedence that the share last traded at this level. Am hanging for the scope study and hopefully an early christmas present with the jorc come december.


----------



## chris1983 (22 June 2007)

the barry said:


> Bannerman reports securities sold to haywoods at 3.10 per share. Will be interesting to see what this does for the share price, last lot of placements didn't prove to be to good as support levels. Hopefully this time the share can hold at this level of support, quirky coincedence that the share last traded at this level. Am hanging for the scope study and hopefully an early christmas present with the jorc come december.




This just proves that they will definately list on the TSX.  If they managed to raise money at 3.10..when the SP touched a low of what? 2.66..then they should definately list over there.  I'm excited for the prospects in regards to future SP gains for BMN holders.


----------



## DAZT49 (22 June 2007)

chris 1983,
I know you have posted this info before, bu when do you think they WILL list on TSX? 
Still hanging around $3.10, be nice to finish up $3.15-20 today so I can sit back and enjoy the footy on the weekend.


----------



## chris1983 (22 June 2007)

DAZT49 said:


> chris 1983,
> I know you have posted this info before, bu when do you think they WILL list on TSX?
> Still hanging around $3.10, be nice to finish up $3.15-20 today so I can sit back and enjoy the footy on the weekend.




Towards the end of the year.  After they release their large resource.  they will give the aussies the opportunity to jump on first..but seriously mate aussies dont understand value.  BMN will go up but they wont go up to where they should.  Im set with my holdings now..very glad I got that top up in the low 2.70's.  Major discount to the recent placement .  This is just my opinion.  BMN are a 12 month hold from this point onwards for sure.


----------



## Broadside (22 June 2007)

chris1983 said:


> Towards the end of the year.  After they release their large resource.  they will give the aussies the opportunity to jump on first..but seriously mate aussies dont understand value.  BMN will go up but they wont go up to where they should.  Im set with my holdings now..very glad I got that top up in the low 2.70's.  Major discount to the recent placement .  This is just my opinion.  BMN are a 12 month hold from this point onwards for sure.




Sounds good, maybe Christmas will be coming in December this year!  I would think there could be some interested parties sniffing around them if they don't get rerated soon compared to their peers in that part of the world.


----------



## ta2693 (22 June 2007)

Chris1983, I believe the 2.95 to 3.05 could be a very strong support level. I am in at 3.10. I am with you on this one from today. Thank you for your f/a.


----------



## captjohn (22 June 2007)

chris1983 said:


> Yeah..my top up is looking like a great move.  BMN are amazing aren't they..they manage to go up 50 cents in a few days..if some one was holding BMN and hasn't had the chance to look at his shares for the past month he would think nothing has happened.




Arghhh!!......Ol' Capt.Yellowcake has just logged on in Thailand to see whats been goin ' on!!

& your spot on Chris ...sp  was $3-ish when I left 3 weeks ago.
And chart from kennas is very well done & hopefully U sector is out of the down trend. 
Its great to read a months forum chatter from the regular bannerman boys ....gotta go ...the massage girl has just arrived . pant pant !!  cheers from captjohn


----------



## DAZT49 (25 June 2007)

Early orders looking good this am. IAP +10c. Could be a good week for BMN.



Slowly, slowly, catchee monkey.


----------



## DAZT49 (25 June 2007)

great ann this morning, but market not impressed!!!
guess it just isnt on peoples 'watchlist', surely that cant go on.


----------



## ta2693 (25 June 2007)

DAZT49 said:


> great ann this morning, but market not impressed!!!
> guess it just isnt on peoples 'watchlist', surely that cant go on.



It is good enough for me. Normally BMN would go down after good announcement.  But this time it goes up, not too bad from my point of view.


----------



## DAZT49 (25 June 2007)

you are right ta2693!! That has been the way it has been going. Hopefully it can hang on to most of todays gains.Hanging in at $3.20 atm


----------



## Broadside (25 June 2007)

DAZT49 said:


> you are right ta2693!! That has been the way it has been going. Hopefully it can hang on to most of todays gains.Hanging in at $3.20 atm




If you have a medium term view, today's announcement is absolutely outstanding, the resource is getting bigger and bigger and eventually the price will reflect that...if not today.


----------



## DAZT49 (25 June 2007)

Broady,
Maybe the big buyers havent got back from the snow at Hotham/Thredbo yet.
Wish I had a LOT mores shares than I have.


----------



## DAZT49 (25 June 2007)

Whats going on?? A great Ann and now the SP is back to its open $3.15
xjo is down 40 but..What the!!!


----------



## drasicjazz (25 June 2007)

i know 
there was some rise is sp but bannerman seems like to like the sideways trend
this time a year
these days i m telling my friend i bought some bummerman
but i m conviced that soon 
i ll call it bag-german!!


----------



## DAZT49 (25 June 2007)

jazzman..love your work.
Consolidating last 4 days, taking a pause after the big rises from 15th to 20th, before continuing on its (and our) merry way upwards.


----------



## the barry (25 June 2007)

Guys at some point the market will wake up to the potential of this company. In the announcement of the funds coming the ceo stated they expected a "significant upgrade" to the resource when it is confirmed at the end of the year. The announcement today confirms the strike area has increased from 1.7 km to 2.3 km's at high grades. There is no way i will part with my shares before the jorc is announced at the end of the year. I have a good feeling we might be in for an early christmas present on this one. Remember they have a total of 35 kilometers in target areas, over time like the current target target area this will hopefully increase.


----------



## chris1983 (25 June 2007)

Poor performance considering they have extended the strike by greater than 30%.  They are looking at a 150+ million pound resource now with that extension of the strike.  Just need the depth extensions to 300 meters further confirmed then we know this will be a monster resource.  Makes the decision to hold long even easier now.


----------



## DAZT49 (25 June 2007)

Any body got any thoughts on why the volumes are so small.??
Biggest order today was 35k, a 20k, a few 10k but mostly 1+k and lots in the 100's. I know that traders will put in a small parcel at a lower bid to get there order up but its not like there is lots of depth on either side to warrant that.
Only 5 days of 1 mill sales in the last 60 days.


----------



## Broadside (25 June 2007)

DAZT49 said:


> Any body got any thoughts on why the volumes are so small.??
> Biggest order today was 35k, a 20k, a few 10k but mostly 1+k and lots in the 100's. I know that traders will put in a small parcel at a lower bid to get there order up but its not like there is lots of depth on either side to warrant that.
> Only 5 days of 1 mill sales in the last 60 days.




It's fairly low liquidity and buyers are preferring to be patient rather than bid it up too much whilst sentiment has turned a little against Uranium.  If it is aggressively bought again, being tightly held the price could again rise 20 or 30c in a day as happened in the past, but no need to do this yet while they can accumulate patiently.  The lack of liquidity I would suggest is a reason they had no problem getting away the placement at $3.10 despite the stock trading below this level...to buy this stock on market would have seen a higher price...my thoughts anyway.


----------



## Go Nuke (25 June 2007)

Im stoked with the announcement!

Though im not going to make the same mistake as last time and buy more thinking the share price will actually go UP!:nono:

There are some good grades there too.
We all know how good Bannerman is! as do the Canadians i bet.

{Think I'll just keep paying the interest off those shares I bought at $3.47}

Goodluck to all


----------



## DAZT49 (25 June 2007)

I made the mistake of selling 1/3 of my holding to get into a couple of IPO's.(When the BMN SP was about 60c)
Can you guess which way the price went on those puppies??
Hindsight, wish I had it!!
(is that ok Kennas?)


----------



## chris1983 (26 June 2007)

This is some information from Halba.  Thought its fair to share this with other BMN holders.

*Anomaly A exceeding expectations: Bannerman *_

Kate Haycock
Monday, 25 June 2007


NAMIBIA-focused uranium play Bannerman Resources has increased the strike length of the Anomaly A mineralisation at its Goanikontes deposit by some 30%, with initial drilling results including the highest intercept from the project to date.

Peter Batten 

Mineralisation was intersected in several holes drilled along strike of the previously defined Anomaly A resource, the company said in a market announcement today.

While assays are pending for the drilling results, Bannerman said gamma ray spectrometer results showed that mineralisation was intersected in four main zones downhole to a depth of almost 300m. 

Intercepts from the most significant hole included 34m at 219 equivalent parts per million uranium from 57.5m, 19m at 356 equivalent ppm uranium from 175.9m and 61m at 202 equivalent ppm uranium from 204m. 

The highest-grade intersection from the hole, which was drilled at the southernmost limit of the Anomaly A alaskites, was 36m at 604 equivalent ppm uranium from 36m.

Significantly, this was also the first hole in which mineralisation appeared in both the alaskites and the host metasediments, Bannerman said, further expanding the potential of the area. 

The Rossing uranium mine, north of Goanikontes, produces up to 40% of its uranium from mineralisation from the metasediments. 

"This deposit continually exceeds our expectations," Bannerman managing director Peter Batten told MiningNews.net. 

"This extension is exceptional news. 

"It's 30% longer than we thought and it actually is 50% more than the strike length included in the interim resource … and that was to a nominal depths of 80m and we're drilling it down to 300m," he said.

Batten said the increase meant the company needed to tighten its schedule to ensure it could complete its resource estimation for the entire Anomaly A deposit by the end of the year. 

He said the gamma ray spectrometer results were accurate and the company was happy to announce the results despite the lack of assays. 

"We didn't want to say anything about a strike extension until we knew ourselves that the alaskites down that end were mineralised. 

"We certainly weren't expecting 600ppm, which is almost double our expectations for our entire deposit, and that's certainly our widest, highest-grade intercept to date," Batten said. 

A third reverse circulation rig is due on site shortly to help cover the extended resource drilling at the Anomaly A deposit, and assays should be returned within two weeks.

In May, Bannerman announced an inferred resource of 12,200 tonnes of uranium at Goanikontes._


----------



## chris1983 (26 June 2007)

Sections I liked from this interview.

_*"It's 30% longer than we thought and it actually is 50% more than the strike length included in the interim resource … and that was to a nominal depths of 80m and we're drilling it down to 300m," he said.

"We certainly weren't expecting 600ppm, which is almost double our expectations for our entire deposit, and that's certainly our widest, highest-grade intercept to date," Batten said.*_

Its really good news but the market isn't grasping this atm.  Really looking forward to the listing in Canada.


----------



## DAZT49 (26 June 2007)

chris 1983,
Where is that report from? From the new figures can you extrapolate (do you like that) the value of the resources?
I cannot believe the SP today


----------



## chris1983 (26 June 2007)

DAZT49 said:


> chris 1983,
> Where is that report from? From the new figures can you extrapolate (do you like that) the value of the resources?
> I cannot believe the SP today




Not sure..I'll ask him.  Be patient with BMN daz..they are a good stock.  We have to wait a good six months to really see what direction they are heading in.


----------



## Broadside (26 June 2007)

I believe the article is from Mine News.  It's funny seeing the weakness today, to my mind a lot of the risk is now going out of this stock.


----------



## Sean K (27 June 2007)

I thought it was a pretty good ann and there should be a significant resource upgrade by years end. I think the reason the sp's being held back is just that it ran so hard from Jul 06 to Apr 07. I think it's market cap ran away from it's state of development and proved resources. Now, it's just comming back to the mean perhaps. Those forecasts everyone was plucking last year were for production, or the analysts ones were 1 year targets I think. 

In regard to the director buying and selling off market can anyone explain that. The off market sell is what interests me. What's he doing there? I'm not impressed with any director selling, even if it's to buy Christmas presents. Perhaps it was to the Canadians? Thoughts?


----------



## DAZT49 (27 June 2007)

Does the end of the financial year have anything to do with it? Ppl taking losses for GST reasons or waiting till 1st July to buy. Guess we will find that out next week.
My other stocks are in the same boat, everyone champing at the bit, good anns ..Sp going down.


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## Sean K (27 June 2007)

DAZT49 said:


> Does the end of the financial year have anything to do with it? Ppl taking losses for GST reasons or waiting till 1st July to buy. Guess we will find that out next week.
> My other stocks are in the same boat, everyone champing at the bit, good anns ..Sp going down.



Yeah, but he shouldn't have been taking a loss, surely. It would have to be a capital gain. So it's even more odd to me. Unless he knows which way the sp is headed.


----------



## DAZT49 (27 June 2007)

i meant the general holders not the directors..sorry.
What you say is far more sinister.
$2.90 this am, It was $3.28 ish a couple of days ago
It would be good to be able to grab somebody who has just sold and ask ..why?
Ditto somebody who bought when it went up .


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## Broadside (27 June 2007)

DAZT49 said:


> i meant the general holders not the directors..sorry.
> What you say is far more sinister.
> $2.90 this am, It was $3.28 ish a couple of days ago
> It would be good to be able to grab somebody who has just sold and ask ..why?
> Ditto somebody who bought when it went up .




Dazt...what is your investment time frame for this?  If it's medium/long term I think you're worrying too much over day to day price action....markets have turned a tad bearish and spec shares (and BMN is still spec to many) are getting sold off....then you add tax loss selling, tax losses are scarce in this market and maybe they get chased, some people did pay significantly more for BMN than today's prices.  I bought yesterday and the day before on the announcement, should I have waited? of course!  but it looks like great news to me and I will ride out the short term volatility because I believe the risk is now lower than before and the resource and valuation upside is now higher...so it is good buying for me (and my risk/return preferences) anywhere around $3.

I am not confident predicting the price today, or tomorrow, or next month.  But I feel more confidence in saying in a year today's prices will look like exceptional value.  Good luck.


----------



## DAZT49 (27 June 2007)

Broady,
You are right..look at the big picture.
Just with such a good ann we could have anticipated some positive movement of the SP.


----------



## Moneybags (27 June 2007)

DAZT49 said:


> Broady,
> You are right..look at the big picture.
> Just with such a good ann we could have anticipated some positive movement of the SP.




I hear ya but BMN seems to head south on any news. I found this out the hard way a little while ago.

MB


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## DAZT49 (27 June 2007)

Anns for Bmn do have that 'reverse negatavism' effect dont they.lol

In the last ann 25/6/..

"The company is still experiencing delays in receiving assay results from the laboratory, a situation
which is persistent within the industry and particularly within Africa. Measures have been taken to
streamline the production of samples and export and transport from Namibia to the laboratory in
Johannesburg, South Africa. Delays still exist and recent industrial unrest and strike action in
South Africa has affected the data turnaround times.
The Company has made a concerted effort to clear the backlog of samples and expects to be able
to report these results within two weeks."

So by next Friday (6th) we should have more good news......perhaps we should go short on Thurs 5th lol
IMO things will start moving after the end of the financial year, so roll on next week.


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## chris1983 (28 June 2007)

From the announcement 8th May 2007

This is a reminder that the Scoping study isn't too far away.  This is a very important step towards production and I think it will be very positive for Bannerman.  They state it was expected to take 8-12 weeks and this announcement is almost 2 months old now.  Thats almost 8 weeks down.  Next month will be interesting.  Keep a close eye on increase in volume and SP.  Good luck to the longs.

*Highlights:*

*- Scoping study on project commences, expected to be completed within three months
- Extensive drilling ongoing at project with further resource upgrade expected by end of year
- Current drilling highlights grade increase at depth
- Feasibility Study to commence in early 2008*

Australian based Uranium exploration and development company Bannerman Resources (ASX: BMN) has confirmed its intention to expedite studies into the development of its Goanikontes Uranium Project in Namibia (refer editors notes) following the confirmation of an Interim Inferred Resource above company expectations.

Bannerman has engaged the services of Coffey Partners to undertake a scoping study at the project, which commenced on Monday 7 May 2007. Independent Metallurgical Operations (IMO) has also been engaged to conduct studies into the metallurgy and processing options associated with the project at the same time.

The Scoping Study, which is expected to take between 8-12 weeks to complete, will provide the company with indicative figures associated with:

*- Processing options
- Ore mining rate (per annum)
- Cut-off grade
- Mining Grade
- Recovery
- Annual U3O8 production
- Operating Cost
- Capital Cost
- Tailings Management*


----------



## chris1983 (29 June 2007)

Last bit of Tax loss selling for the financial year going on IMO.  BMN shouldn't be down at this level after raising a substantial amount of money at 3.10.  I'm holding long but its always interesting to watch the short term action.


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## DAZT49 (29 June 2007)

with you Chris..end of FN.
July could be an interesting month for BMN with scoping study due shortly.
The whole U market seems to be down (my stocks anyway) but with those reserves BMN have it cant stay down for too much longer...............can it?


----------



## the barry (29 June 2007)

Interesting artlicle in miningnews.net, mentioning they anticipate the spot price of uranium to continue on. This is the bit i don't like though "Now sit back, smile, hold onto your PDNs, DYLs, EXTs and the mighty MTN which should be bigger than even the Gold Coast Marathon this weekend." Bannerman's never seems to crack a mention. Good for the knowing though, come two weeks when the latest essay results will give those in the know a front row seat for when the jorc comes out later in the year. Happy financial year to you all, hope you all have a big fat tax bill to pay. 
Also, with bannermans you have to remember that at present it is still 10 times above its 52 week low, so that is still a stellar year. If it does 1/10th of this financial year i will be stoked. 



> Higher and higher for uranium
> Rebecca Lawson
> Friday, 29 June 2007
> 
> ...




Now sit back, smile, hold onto your PDNs, DYLs, EXTs and the mighty MTN which should be bigger than even the Gold Coast Marathon this weekend.


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## the barry (1 July 2007)

Interim Resource Table
INFERRED RESOURCES – GOANIKONTES ANOMALY A
Low Cut Tonnes Grade Metal (U3O8)
(U3O8 ppm) t         ppm     tonnes           1,000lbs
100      55,828,505  219   12,208          26,907
150      44,143,202  243   10,741          23,672
200      27,997,098  283   7,934           17,486
250     15,749,153   331   5,209           11,481
300      9,202,118    372    3,424           7,547

Is this saying that they anticipate the total tonnage to be 39,516 tonnes with a ppm of about 266 (rough working out). If I am right, how does this compare to the rossing mine and langer heinrich?

Thanks


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## DAZT49 (2 July 2007)

TB,
39,516 X $138/t (current spot price) only give $5.5mill/year..seems wrong, or is my calculator out of whack.
I am sure Chris 1983 could give us the bottom line.
Cheers


----------



## DAZT49 (2 July 2007)

Sorry mate...$138/POUND...
So thats 5.5 X 2240 =$12,122mill/year???
Help me here!!


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## DAZT49 (3 July 2007)

chris 1983,
There are two reports due aren't there?
1. Scoping study due from today on.
2. Results of backlog of core samples.


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## chris1983 (3 July 2007)

Hey guys..scoping study in around 4 weeks.  Be ready for it.  Its a very important report.  I'm looking forward to it and may try to top up if I get some profits before the announcement is due.


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## bliimp (4 July 2007)

Mineweb article .... 

http://www.mineweb.net/mineweb/view/mineweb/en/page674?oid=22866&sn=Detail

Last paragraph ....


"*We continue to hold our price target for BMN of $4.50 per share but have moved this from a 12 month target to 6 months*, taking into account the likelihood that the interim resource figure down to 80m is likely to be significantly improved as drilling proceeds. We still view the exploration potential as second to none and *we continue to  recommend BMN as a Strong BUY *to risk tolerant investors wanting exposure to the uranium sector in a uranium friendly jurisdiction, free from political uncertainty and in a stock that offers real potential to be a significant producer by 2010."


----------



## chris1983 (4 July 2007)

Thanks Blimp.

It has also been added to their website.  See link below.  Its a DJ Carmichael report. They have give price targets similar to my own but I think once the final resource estimate is out it could go further.  Just my own opinion due to the enormity of the resource.

http://www.bannermanresources.com.au/docs/2007/BMN_Carmichael_20070629.pdf


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## Go Nuke (4 July 2007)

AWESOME!

Report released.

Latest Drill results released outside interim resource

*Higher Grades reported below current resource

29m@ 449ppm
18m@ 443ppm
41m@ 570ppm

Alaskites thickening to the south
 128m@ 209ppm
 110m@ 251ppm

More great news...so can we expect BMN sp to fall more now???lol*


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## DAZT49 (4 July 2007)

Nuke,
Down 15c!!!!!! What the???But look at some of those sales 100,200, 500 all very strange Not even $1mill in sales.
Like to be out, but how can I with such news?


----------



## ta2693 (4 July 2007)

Do not worry too much. Because we are playing with investo. everything could happen. If I am the investo who want to buy. I will try my best to push the price down below 2.73. I think they are thinking about doing the trick. 

But as a long term holder for BMN, I trust the fundamental analysis done by Christ1983 and the report of FP.


----------



## the barry (4 July 2007)

DAZT49 said:


> Nuke,
> Down 15c!!!!!! What the???But look at some of those sales 100,200, 500 all very strange Not even $1mill in sales.
> Like to be out, but how can I with such news?




I would wait till the end of the year when the resource is confirmed. I dont think anyone can comprehend how big this resource is going to be. Everything that has been announced makes me more and more confident, the higher grades and thickness are an added bonus. If the scoping study comes in positive, then for mind all the pieces of the puzzle will be falling into place.With the final piece being the confirmed resource at the end of the year.


----------



## DAZT49 (4 July 2007)

I cant believe that we are the only clever dicks who know about this stock.
Less than 1% of total shares are traded each day(about .05%), do the big instos hold the rest??


----------



## chris1983 (4 July 2007)

DAZT49 said:


> I cant believe that we are the only clever dicks who know about this stock.
> Less than 1% of total shares are traded each day(about .05%), do the big instos hold the rest??




haha..I have given up posting on BMN regularly.  Not one person posted the announcement today and it was a very important announcement.

Latest drill results outside inferred interim resource
- Higher grades encountered below current resource:

*GOADH013 – 29m @ 449 ppm U3O8
GOADH021 – 18m @ 443 ppm U3O8
GARC034 – 41m @ 570 ppm U3O8*

- Alaskites thickening to the south:

*GARC047 – 128m @ 209 ppm U3O8
GARC051 – 110m @ 251 ppm U3O8*

I recently pushed money into MLSOA.  Getting set for their revised Jorc resource..but BMN will also have a revised resource out in 6 months time.  Probably time to start loading up with any bit of profit money I can make from here on out.  I have a very strong feeling Bannerman is going to have one of the largest undeveloped resources in the world and its in a prime location.  Go long on BMN and hold on tight 

From the latest Carmichael report.

_"BMN expect to produce a final resource estimate for Goanikontes A of between *150m and 200m tonnes, using 100ppm cut off grade*. We view a resource of 75mt at grades between around 300ppm, containing approximately 22,500t of U3O8, or 50 million lbs, using a 200ppm cut-off grade to be an excellent result and will, in our view, more closely resemble a mineable tonnage. However, recent BFS studies by peers in Namibia, now suggest that grades as low as 150ppm are economic in these large low grade deposits."_

150 to 200 MT. Thats absolutely huge fellas   Uramin got taken out for 2 billion US and they have a resource of 139 million pounds at 130 ppm average with a 80 ppm cutoff for their flagship project at Trekoppje.  Now guys if that doesn't give the buy single I dont know how else to help you.

Good luck to the longs.


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## Go Nuke (4 July 2007)

chris1983 said:


> haha..I have given up posting on BMN regularly.  Not one person posted the announcement today and it was a very important announcement.
> 
> Latest drill results outside inferred interim resource
> - Higher grades encountered below current resource:
> ...




Hey i noted it Chris!
A few posts above yours mate
Thast why i joked about the share price going down on such good news..lol


----------



## chris1983 (4 July 2007)

Go Nuke said:


> Hey i noted it Chris!
> A few posts above yours mate
> Thast why i joked about the share price going down on such good news..lol




ahh 

No one really understands BMN's resource here in Australia.  TSX listing is in October!  4 months away..thats not too far.


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## Synergy (4 July 2007)

I don't mind if BMN stays low for a little longer. The more U they can find before they're uncovered the more noise there will be about them when it happens. And at the current rate, you'd expect quite a bit of noise.

Cheers,
Synergy


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## the barry (4 July 2007)

Synergy said:


> I don't mind if BMN stays low for a little longer. The more U they can find before they're uncovered the more noise there will be about them when it happens. And at the current rate, you'd expect quite a bit of noise.
> 
> Cheers,
> Synergy




I'm in agreeance, would love them to stay at these levels till december and then hopefully make more of a play at them in expectation of the resource being well above expectations and at a higher ppm.


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## chris1983 (4 July 2007)

I actually dont mind either Synergy..I'm happy with my holdings but I want a tad more.  I'm currently trading with Margin loanable money and if I can make profits from that I will grab some more BMN with the profit money.  BMN are looking good and you wont find any other company on the ASX that will have a resource greater than 150 million pounds outside of Australia.  This resource will be in Namibia..a uranium mining friendly country. 150-200 million pounds at 220 ppm with a 100 ppm cut-off I would take any day.

They say Bannermans grades increase at depth so I wouldnt be surprised if the average grade for the deposit comes up to around 250-270 ppm.  For a company with a market cap of 389 million..plenty of cash in the bank to fund their future drilling campaigns..they are looking real good.  So in summary who would buy a company with a 150-200 million pound resource..at a market cap of 389 million?  I sure would   Thats just my thoughts though.


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## Broadside (4 July 2007)

the grades at the lower depths look great, but how do you see this being mined?  are they too deep for open cut mining?


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## chris1983 (4 July 2007)

Broadside said:


> the grades at the lower depths look great, but how do you see this being mined?  are they too deep for open cut mining?




It will be open cut.  Mineralisation is from the surface to depths of 300 meters.  Will be exactly like the Rossing deposit.  They may have some higher grade sections of the resource that they can mine first.  At current uranium prices it is very economical atm.  You just need to compare to Forsys and Uramins BFS studies.


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## spooly74 (4 July 2007)

chris1983 said:


> So in summary who would buy a company with a 150-200 million pound resource..at a market cap of 389 million?  I sure would   Thats just my thoughts though.




Hi Chris 

150-200 million pound resource would be fairytale stuff.
I`m sure you meant 150-200 million tonne of orebody.....still impressive if they can prove it up.
cheers


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## chris1983 (4 July 2007)

I really think BMN will be one of those amazing stories that a lot of people will talk about.  Very similar to PDN.  They are drilling a portion of Anomoly A atm and the resource now extends to 2.3 km.  A 150-200 MT resource is being anticipated.  Its amazing to think about how large the resource could be.  The total size of the anomoly they are currently drilling is 22 km and then we have the extension of the Rossing anomoly which is a 15 km anomoly.  The Rossingberg South anomoly hasn't been touched yet.  How much uranium do they have?  Only time will tell.


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## chris1983 (4 July 2007)

spooly74 said:


> Hi Chris
> 
> 150-200 million pound resource would be fairytale stuff.
> I`m sure you meant 150-200 million tonne of orebody.....still impressive if they can prove it up.
> cheers




yeah ore body..sorry about that.  we can work out how much lbs ther would be.

say we have *175MT at 220 ppm*.  I believe the average ppm will be increased but we can work it out at 220 ppm.

That will give us a resource of *38,500t of U3O8 or around 85 million lbs*.

Total inground resource value would be around *11.5 billion *with a uranium price of *136 dollars a pound*.  The resource would be labeled as economic too.  Thats a lot of inground value to be economically viable IMO.

That fairytale could come true if they keep expanding the strike length of the resource though


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## Sean K (5 July 2007)

chris1983 said:


> I really think BMN will be one of those amazing stories that a lot of people will talk about.  Very similar to PDN.



 Chris, can you please provide more detailed analysis on why this is very similar to PDN. Is it resource tonnage, grades, management, the type of deposit, or what? Cheers.


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## chris1983 (5 July 2007)

kennas said:


> Chris, can you please provide more detailed analysis on why this is very similar to PDN. Is it resource tonnage, grades, management, the type of deposit, or what? Cheers.




Kennas..not going to waste my time.  I was pretty much saying they will have similar success stories that people will talk about. What are your opinions Kennas in regards to the large resource that will be released come the end of the year?  Lets hear some better added opinions from yourself...rather than picking up on my supposed ramps.


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## DAZT49 (6 July 2007)

This chart shows that BMN has been in a 7 day consolidation.
Technically it broke out on days 4 & 5 but drooped back on 6 & 7.
We can see a 1,2,3 Low (Joe Ross) forming within that consolidation.
What we would like to see is an open/close above the $3 resistance, then a breakthrough of the no 2 position $3.06. and then through $3.19
$2.90 seems to be solid support.
IMO the SP will stay in the $2.90-$3.06 for a bit longer.
The signs are fairly weak, as I have posted before BMN really needs some BIG volumes to kick start it.
All IMHO DYOR PYFO etc of course.


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## gimme some (6 July 2007)

I am just new to this caper, so I am probably completely wrong, but is Bannerman not looking prime for a takeover? 
I just thought with what they have compared to their S/P they are looking very cheap to me. But I guess there is a lot more to it than just that.
BTW I dont hold these yet, but I'm sure I will very soon.


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## Sean K (7 July 2007)

gimme some said:


> I just thought with what they have compared to their S/P they are looking very cheap to me.



Gimme, just a small point with valuations, you need to compare resources/potential to market cap, not the sp. Perhaps you meant this, but if not, you need to find out how many shares a company has on issue and divide by sp to get market cap. Then compare to other companies market caps for a 'peer comparison', and/or how much of a resource they have in the ground compared to cap, for a benchmark. It gets more detailed than that, but that's a start.


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## chris1983 (7 July 2007)

Good article from Resource Stocks magazine for the July issue.  They have a nice write up on both Bannerman and Erongo.  I have attached the quick summary of Bannerman from the magazine.  It covers exactly what I have been saying.  Many announcements to be released over the next 6 month period.  Hopefully this will take Bannerman out of its sideways action and push the company to new highs over the following six months.  I believe the company will push higher as these announcements should change the fundamentals of the company significantly especially the updated resource for Goanikontes anomoly A by years end.


----------



## chris1983 (7 July 2007)

I think another good point to add is Nathan Mcmahon increased his holdings yet again.  A very good sign IMO.


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## gimme some (7 July 2007)

Thanks for your quick response Chris. It is pretty simple now you have explained it. Cant believe I didnt think of that.
Anyhow thanks again.


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## chris1983 (7 July 2007)

gimme some said:


> Thanks for your quick response Chris. It is pretty simple now you have explained it. Cant believe I didnt think of that.
> Anyhow thanks again.




No worries Gimme.  I am very confident with BMN and so are all the analysts.  I was confident from the beginning.  I guess my confidence has grown as the company has progressed there operations.  I would love to get more.  I'm targeting more shares to add to my portfolio..one of them is a top up on BMN.  I guess I have enough by now but I'm so confident on them.  There is always risk with stocks though no matter how confident you are..so being the astute investor I should probably diversify into something else.  The only money I will push into BMN from this period onwards is profit money from my Margin loan trading..that way I'm only pushing profit money into the stock.  I am 90% confident BMN will rise so I protect my profits and can have further success hopefully?  All the best to you if you decide to have an entry.


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## nomore4s (7 July 2007)

Interesting next few weeks for BMN. 
On the daily, still in a strong down trend channel but now hitting long term trend line(yellow),  when it broke through this line on the 15th of June it rebounded very strongly, imo needs to respect this line again, if it drops through it the sp could end up near the bottom line of the trend channel.

On the weekly we have the same set up with the sp hitting the long term trend line, making this an important support imo.

Good luck to holders


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## chris1983 (7 July 2007)

nomore4s said:


> Interesting next few weeks for BMN.
> On the daily, still in a strong down trend channel but now hitting long term trend line(yellow),  when it broke through this line on the 15th of June it rebounded very strongly, imo needs to respect this line again, if it drops through it the sp could end up near the bottom line of the trend channel.
> 
> On the weekly we have the same set up with the sp hitting the long term trend line, making this an important support imo.
> ...




Thanks for that chart nomore..the news that could make it drop down under the trend line is a less than inspiring scoping study.  In my honest opinion I believe fundamentalists are more invested in BMN than chartists..but it is always good to see the charts.  

I think the first movement will be after the scoping study..so we have how much time left? On the 08/05 the scoping study was starting..it is expected to take 8-12 weeks. So about 8 weeks have passed. I would say we have 5 weeks max to wait.

So 1 months time from now we should be receiving a very significant message to the company..after we get this announcement the number crunching will start to occur.  If the numbers dont look good then BMN could fall under the trend line but I highly doubt the figures wont look good when Rossing has operating costs of around $23/pound.


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## DAZT49 (11 July 2007)

The SP is depressing me.
I hope the company releases an ann soon to stop the slide.
Saw this post on HC, theory as to what is happening..

It happens EVERY day on dozens of stocks. The hedge funds employ traders to sit & trade this way & make $$millions each week. Other brokers/insto's buy large positions for themselves or clients. Rather than buy say, 500,000 BMN at current prices & drive the price up crazily, they buy a bunch & then sell them in dribs DOWN to the bidder. They then stack the offer side & keep selling down, as they do so they put their OWN buy bids in, picking up stock from other spooked sellers, & stop/loss orders coming though. 

Then as they near their total required, they go the opposite way, buying up all sellers on offer, and at the same time putting in a stack of orders on the bid. Buyers & traders see the change in sentiment & start buying again & away the price runs back to where it was or to new highs.


I hope the company releases an ann soon to stop the slide.


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## no66y (11 July 2007)

DAZT49 said:


> The SP is depressing me.
> I hope the company releases an ann soon to stop the slide.
> Saw this post on HC, theory as to what is happening..
> 
> ...




DAZT i believe a similar strategy is being used on ERN, there seems to be large order placing price caps on the sell side forcing holders to a lesser price, and then suddenly the bid side picks up...


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## chris1983 (11 July 2007)

Ultimately the scoping study will be one of the most important announcements we will see.  Due in 1 month max I think.  So if your not worried about short term price fluctuations..hold long.  Im still very confident.  Confidence may wash away if the scoping study isn't promising though..cant see how it wont look good after comparing operating costs etc etc with Rossing.


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## bigt (11 July 2007)

no66y said:


> DAZT i believe a similar strategy is being used on ERN, there seems to be large order placing price caps on the sell side forcing holders to a lesser price, and then suddenly the bid side picks up...




Not entirely on topic, but "they" appear to be doing this to BYR too, quite effectively..though a big buyer always comes in, that little bit lower to snap up panic sellers. IMO this demonstrates longer term value, in that if this scenario is true, they believe in the stock.


----------



## no66y (11 July 2007)

bigt said:


> Not entirely on topic, but "they" appear to be doing this to BYR too, quite effectively..though a big buyer always comes in, that little bit lower to snap up panic sellers. IMO this demonstrates longer term value, in that if this scenario is true, they believe in the stock.




spot on bigt. we shouldn't fall for such a bluff... it stands out like a sore thumb!  it does mean they have confidence in the stock.


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## SGB (11 July 2007)

Guys,

I wouldn't be too concerned about it long term. As you have all said the fundalmentals are strong.... then the stock will eventually turn around. At the moment the shorts are in play, They are following the trend. Its like when the stock was bullish everyone was following the trend. 
Any chartist who has been following this stock would have identified a major(monthly) overbought position. RSI was peaking in over 90. ( I'm not at my chart wokstation so i can't display this) So eventually the trend had to swing and take the heat of the major trend. Eventually the trend will change and head north again, either, through, R & S lines, oversold conditions or some descent fundimental reporting.
The stock as i know is fairly strong so its just a matter of waiting.
The same situation happened to OXR and its going OK now.

Just for the record there are a couple of other stocks that have been overbought in the major trend who are now tanking.

SGB


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## ta2693 (11 July 2007)

ta2693 said:


> Do not worry too much. Because we are playing with investo. everything could happen. If I am the investo who want to buy. I will try my best to push the price down below 2.73. I think they are thinking about doing the trick.
> 
> But as a long term holder for BMN, I trust the fundamental analysis done by Christ1983 and the report of FP.




Here we go. The price is below $2.73. The investo has done their job. If I were the investo, I would not push the price down further, because it will cost the investo very much. I will buy a lot this week, the price has to go above $3.00 in a week. 
If the price can not be above $3.00 in a week, then something we do not know may go wrong. I will go out at loss.


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## chris1983 (11 July 2007)

Hi guys,

Well its definately a fall back isn't it. No news and its gets punished.  They have let us know the time intervals on which some of the major announcements will be released though..scoping study in about a months time..listing on the TSX by the end of October..final resource estimate come the end of the year.  Im holding for all these announcements as I dont think they will be negative.  I also think comparitively BMN is cheap compared to most australian uranium explorers that have deposits and especially canadian explorers.  So its a waiting game?  If your a short term and technical trader you wont like what your seeing though..but I'm looking at the bigger picture..so are all the brokers who have put buys on the stock and have price targets of 4.50.  There has been atleast three articles I know of recommending buys and a price target of 4.50 in the past month.  All the best to the longs.


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## ta2693 (11 July 2007)

I agree with you Chris1983, BMN has very strong fundamental base according to the present information we can get. 
But I am afraid investos know something we do not know which may change ppl's fundamental view dramatically. I still hold, If BMN's performance continue to be so weak like this week, I will go out.
I prefer to stay out and come back when the price come back above $3.05.


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## hacheln_mice (11 July 2007)

SGB said:


> Guys,
> 
> I wouldn't be too concerned about it long term. As you have all said the fundalmentals are strong.... then the stock will eventually turn around. At the moment the shorts are in play, They are following the trend. Its like when the stock was bullish everyone was following the trend.
> 
> SGB




What 'shorts' are you talking about?
http://www.asx.com.au/data/Shortsell.txt

According to ASX data, there is not a single share that is being sold short for BMN.  The selling is being done by those who were actually long the stock.


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## SGB (11 July 2007)

hacheln_mice said:


> What 'shorts' are you talking about?
> http://www.asx.com.au/data/Shortsell.txt
> 
> According to ASX data, there is not a single share that is being sold short for BMN.  The selling is being done by those who were actually long the stock.




Hello h m

Nice research

what does 12,753,262 under the column *Short Sell % Short*/ mean ? 

If there are no short sellers does that mean long term players are selling out .


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## nomore4s (11 July 2007)

SGB said:


> Hello h m
> 
> Nice research
> 
> ...




SGB, that is the short sell limit column, I think it is the max number of shares that can be short sold. 
I may be missing something here but why do you think that people being short in BMN will drive the price down? Have a look at SEK, it has 9mil shares short sold but have a look at its share price in the last few days reffer the SEK thread for more detail. Just because people are short in a stock doesn't mean the price will drop. Just like if people are long in a stock it doesn't mean it will rise.


----------



## SGB (11 July 2007)

nomore4s said:


> SGB, that is the short sell limit column, I think it is the max number of shares that can be short sold.
> I may be missing something here but why do you think that people being short in BMN will drive the price down? Have a look at SEK, it has 9mil shares short sold but have a look at its share price in the last few days reffer the SEK thread for more detail. Just because people are short in a stock doesn't mean the price will drop. Just like if people are long in a stock it doesn't mean it will rise.




Thanks for clearing that up for me.

I think its getting off track a bit.
Who cares why its getting sold off whether its shorts or longs. My original point was that it is getting sold off IMO because of a technical pattern in trend which is down. If you are a chartist you should be able to identify the oversold condition in the major tend which i have mentioned.
This is a technical issue not fundamental.Also i mentioned that the company is fundalmantaly sound and should recover on positve fundamental news which might include stronger U prices.
Cheers


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## nomore4s (11 July 2007)

lol, I love this thread, there are some irrational posts in this thread sometimes(no offence intended just my opinion).

Here's my take from a T/A perspective, if anyone's interested.

The first chart is the current BMN chart with the current down trend and with some lines of resistance marked, any of these lines could provide the bounce needed. Slight increase in vol the last few days but the closes have still been near the lows.
IMO the chart is still showing signs of weakness but I'm by no means an expert, it will be interesting to see where it does find support.

The second chart is an EW count I have been following, the chart is from the 6th of July. The target for the end of wave (2) is anywhere between $1.95 & $2.25ish but this is by no mean certain, in general a wave 2 normally retraces anywhere between 50% - 70%. But the good news is there's a wave 3 to come if it remains valid, lol.

I don't hold and this is purely educational for me, although if the finish of wave2 is confirmed I may look at entering a trade for the wave3.

Good luck to holders.


----------



## jj0007 (11 July 2007)

We are in wave 2?  That is good isn't it?  Wave 3 is suppose to be bigger than wave 1 and wave 5 is suppose to be the biggest?


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## nomore4s (11 July 2007)

jj0007 said:


> We are in wave 2?  That is good isn't it?  Wave 3 is suppose to be bigger than wave 1 and wave 5 is suppose to be the biggest?




Wave 3 is normally the biggest and wave 5 is generally the same as wave 1.

But this is the the larger degree wave count, meaning it could take a while to play out provided it remains valid. Wave 1 took about 9 months to form. There will be smaller degree waves within the larger wave set up that will take less time to form.

But yes there could be some upside to come longer term, but one very good or very bad ann could make all this null & void.


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## chris1983 (11 July 2007)

Wave this and wave that..and then if they jump 50 cents tech investors will be saying long term uptrend has been stabilized lol.  The chartist are having a field day on this one trying to pick pull backs of 2.25 and 1.95 ish why the fundamentalist brokers are picking price targets of 4.50..what to trust..hmm


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## Sean K (12 July 2007)

chris1983 said:


> all the brokers who have put buys on the stock and have price targets of 4.50.  There has been atleast three articles I know of recommending buys and a price target of 4.50 in the past month.  All the best to the longs.



Chris, I know Carmichael have 4.50 on it, but who else? 

To anyone else there thinking broker reports are 100% sound, please go to any general summary of broker reports on just about any stock and you find an incredible variance of opinion. Some say buy while others say sell at exactly the same time. Who's to say Carmichael have it right in this case? Everyone is fallable. You should also read the disclosure statements at the end of the reports to see what connection the companies have with the stock. In Carmichaels case they have worked for BMN previously and the author of their reports owns the stock. Hard to be truly objective in that case. Like people commenting on stocks they own on ASF! It's all ramping to some degree. LOL 

Time will tell of course.


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## chops_a_must (12 July 2007)

kennas said:


> In Carmichaels case they have worked for BMN previously and the author of their reports owns the stock. Hard to be truly objective in that case. Like people commenting on stocks they own on ASF! It's all ramping to some degree. LOL



That's rubbish. I've definitely been a negative nancy on my QGC even though they are my longest held stock and one of my biggest winners Lol!.


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## Sean K (12 July 2007)

chops_a_must said:


> That's rubbish. I've definitely been a negative nancy on my QGC even though they are my longest held stock and one of my biggest winners Lol!.



You're right chops, I shouldn't tar everyone with that brush, although philosophically, I believe we all have agendas of some sort. Who is ever totally objective? I question myself often in this regard. Unfortunately, there are a lot of people who don't even get to that stage and remain pussy whipped by their stock all the way to administration. (general comment, not related to BMN)


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## chops_a_must (12 July 2007)

kennas said:


> You're right chops, I shouldn't tar everyone with that brush, although philosophically, I believe we all have agendas of some sort. Who is ever totally objective? I question myself often in this regard. Unfortunately, there are a lot of people who don't even get to that stage and remain pussy whipped by their stock all the way to administration. (general comment, not related to BMN)



Well, we all see things on the same 'horizon', although from different positions. There are certainly things that can't be argued against. That is of course if we aren't illusional/ delusional etc. 

But if we view things from certain, similar positions, the relationship between subject and object will more often than not be similar across people. 

I don't think the problem in the stock market is entirely one of subjectivity, but the expectation for people to react logically and rationally to events that wouldn't in everyday life elicit a logical and rational response. Although, in the markets, you disregard this thinking (logical and rational) at your peril...


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## DAZT49 (12 July 2007)

You can go short on BMN as a CFD (Contracts for Difference) trade.
If enough short orders were placed,the sentiment may spill over to the SP.
Or be manipulated to achieve that.
IMO


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## chris1983 (12 July 2007)

kennas said:


> Chris, I know Carmichael have 4.50 on it, but who else?
> 
> To anyone else there thinking broker reports are 100% sound, please go to any general summary of broker reports on just about any stock and you find an incredible variance of opinion. Some say buy while others say sell at exactly the same time. Who's to say Carmichael have it right in this case? Everyone is fallable. You should also read the disclosure statements at the end of the reports to see what connection the companies have with the stock. In Carmichaels case they have worked for BMN previously and the author of their reports owns the stock. Hard to be truly objective in that case. Like people commenting on stocks they own on ASF! It's all ramping to some degree. LOL
> 
> Time will tell of course.




All the analysts are behind the Kennas.  Fat Prophets/Carmichael/Hartleys.  Carmichael have only put the price targets thus far...so who to trust..the charts..or my own fundamental analysis plus the respected analysts..if they fall further im confident in the next 6 months they will pull back as I know what news is coming and at what time frames.  With this information I will happily hold even if it drops further.  Like I said if the scoping study comes out and I dont like it I will look at other options.


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## Sean K (12 July 2007)

chris1983 said:


> I'm looking at the bigger picture..so are all the brokers who have put buys on the stock and have price targets of 4.50.  There has been atleast three articles I know of recommending buys and a price target of 4.50 in the past month.  All the best to the longs.






kennas said:


> Chris, I know Carmichael have 4.50 on it, but who else?






chris1983 said:


> All the analysts are behind the Kennas.  Fat Prophets/Carmichael/Hartleys.  Carmichael have only put the price targets thus far...so who to trust..the charts..or my own fundamental analysis plus the respected analysts..





So, there is only one company that has put a 4.50 price target on it? Not, 'all the brokers', and not 'at least three articles with price targets of 4.50'?

Please get you facts straight when posting 'facts' on ASF, Chris. This might go down OK at HC, but not here. 

I haven't even been picking you up for your minor indescretions recently, but when you come out with this error of significance, I would not be doing my job as a moderator if I did not pick it up. 

If you can come up with the other price targets at $4.50, please do! I still own the stock myself. Simple request, or explanation......

Cheers.


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## DAZT49 (12 July 2007)

ooorrr you two guys.
I must say Kennas, I find no offence at Chris's posting, He obviously loves BMN, dont we all.
He is informative and doesnt too much away from the things he has been saying for ages.
And PLEASE dont equate him to the HC c**p.
Hugs boys


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## nomore4s (12 July 2007)

chris1983 said:


> Wave this and wave that..and then if they jump 50 cents tech investors will be saying long term uptrend has been stabilized lol.  The chartist are having a field day on this one trying to pick pull backs of 2.25 and 1.95 ish why the fundamentalist brokers are picking price targets of 4.50..what to trust..hmm




Chris you can trust who or what you want to trust, all I know is that the chart is telling me the sp is dropping. And atm the 2.25ish target is looking more likely than the $4.50 target from the brokers.

The reason I posted the charts is so that people get a view of what the sp is doing now. My concern is for the people who brought into this stock at or near the highs of $3.50 to $3.90 and are still holding, they've lost what 20-30%? They need to understand that the price could fall further yet and it is already a long way back to its all time highs. 
I don't know what the future holds for this stock, hopefully it does reach the $4.50 broker target and hopefully I get some of that rise, but atm it's a long way to that target, the sp would already have to rise 60+% from current prices.


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## DAZT49 (12 July 2007)

Just spoke to Peter Batten in Perth.
1. Samples sent to Johannesburg labs not held up by current strike.
2. Scoping study is expected mid August.
That is all I asked as I am no techhead


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## champ2003 (12 July 2007)

nomore4s said:


> Chris you can trust who or what you want to trust, all I know is that the chart is telling me the sp is dropping. And atm the 2.25ish target is looking more likely than the $4.50 target from the brokers.
> 
> The reason I posted the charts is so that people get a view of what the sp is doing now. My concern is for the people who brought into this stock at or near the highs of $3.50 to $3.90 and are still holding, they've lost what 20-30%? They need to understand that the price could fall further yet and it is already a long way back to its all time highs.
> I don't know what the future holds for this stock, hopefully it does reach the $4.50 broker target and hopefully I get some of that rise, but atm it's a long way to that target, the sp would already have to rise 60+% from current prices.




It wouldn't be unusual for the share price of a company like this to rise 60%. After all it has risen 800% in  the last year and if all goes well the market cap of this company could be worth over the 1 billion mark within a year if you compare to other uranium explorers. Also taking into consideration that cigar lake is going slower than initially anticipated with its repairs, the U308 price is sure to keep rising, BMN should increase their resource substantially by years end, scoping study to come out in 1 month, possible TSX listing etc should encourage the share price to rise substantially. I personally think that if they can quadruple their resource why shouldn't their share price also quadruple?? That of course depends on whether or not they dilute the price through cap raisings.

Cheers!

Champ


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## Sean K (13 July 2007)

champ2003 said:


> I personally think that if they can quadruple their resource why shouldn't their share price also quadruple?? That of course depends on whether or not they dilute the price through cap raisings.
> 
> Cheers!
> 
> Champ



Champ, sounds like a nice premise on the surface, but what if the quadrupling of the resource was already factored in to the sp? This is probably more likely as since they have confirmed the drilling and actually extented the resource by depth and strike it has come off. So, it seems more likely that there is lots of upside in the project already factored in here IMO. 

Cap raising is an issue for future dilution which has been discussed previously here. Can anyone recall the capex to production figure? 

I agree generally that this has very good potential, and looks sure to come in with a significant resource af around 100m lbs + or -, by the current JORC and what it could be extended to with further drilling. But again, perhaps this is factored in?

This need to surprise to the upside IMO for it to regain past highs, or to even break $3.25, where there is a pile of resistance. 

Surprise to the upside is more likely to be a takeover offer IMO. Their tennaments are highly prospective and Goanikontes, Anomaly A, itself would be a great asset for a PDN (or any other solid player) to bolt on. Right now, at 30% of current previous months VWA an offer could come in around the $3.70 mark, but this is obviously pure speculation.


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## 56gsa (13 July 2007)

kennas said:


> Surprise to the upside is more likely to be a takeover offer IMO. Their tennaments are highly prospective and Goanikontes, Anomaly A, itself would be a great asset for a PDN (or any other solid player) to bolt on. Right now, at 30% of current previous months VWA an offer could come in around the $3.70 mark, but this is obviously pure speculation.




K, On rough calculations, an offer at $3.70 values BMN at $470m, supposing they do have 100m lbs, this then equates to A$4.7 / lb!!  Remember PDN paid US$22/lb for SMM.  At US$15/lb, BMN would be valued at $1.7bn, which would mean sp of almost $14...   even if they doubled the shares on issue to raise capital it still means $7 sp.  Think $15 is low but also presupposing here that there is a 100m resource which we'll have to wait and see.... 

waiting waiting, why don't BMN just build their own lab to do the testing?????  surely someone in africa has realised theres a bit of a business opportunity here given the demand?


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## Sean K (13 July 2007)

56gsa said:


> K, On rough calculations, an offer at $3.70 values BMN at $470m, supposing they do have 100m lbs, this then equates to A$4.7 / lb!!  Remember PDN paid US$22/lb for SMM.  At US$15/lb, BMN would be valued at $1.7bn, which would mean sp of almost $14...   even if they doubled the shares on issue to raise capital it still means $7 sp.  Think $15 is low but also presupposing here that there is a 100m resource which we'll have to wait and see....



When you put it in that perspective it would be a cheap buy, but I'm just going on the standard deal as far as takeovers go, and a 30% premium is the usual. If BMN were really worth those numbers wouldn't they be there now? Don't worry, I can hear you thinking that this is because it's undervalued. That has been talked about for some time and if they do potentially have that +/- 100m lbs, and a feasability study says it's a goer at $XX capex to production, and they get the funding, or JV partner, then sure. But there's a reason it seems so undervalued at the moment, I just don't know what it is. 

PS, your not suggesting that if someone were to take over BMN now, they'd have to pay $14 are you?


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## 56gsa (13 July 2007)

kennas said:


> PS, your not suggesting that if someone were to take over BMN now, they'd have to pay $14 are you?




As a holder of BMN of course I am - should be more  

Being more objective you're right - there's a long way to go, lots of things to line up and the 100m lbs I used for the cals is of course pure speculation at this stage.  That said I would be fairly confident a takeover at $3.70 wouldn't generate much interest - to me it would be a bit like the takeover prices offered on MTN - laughable 

Look at this another way - say US$15/lb is an acceptable takeover level for a company like BMN ... assuming $3.70 is the offer price - working this through this means BMN has an implied resource of 27m lbs....  so market is currently pricing that level of resource - if BMN announces more then sp will go up - remember the $15/lb incorporates capex and other development requirements


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## DAZT49 (13 July 2007)

Kennas,
I agree about the factoring in of the potential. Its the sentiment that will drive the price up. I am looking some BIG volumes (mills not 100's of thousands) to indicate that.
The DOW is up 283 points at the mo, hopefully ASX will folow it up.
The chart attached may be interesting to Bollinger Band followers.
The last bar is very close to the lower Bollinger band and closed well within the top 1/3 of the bar.
Ideally, had a portion of the bar straddled the lower line it may be an indication of a reversal. Its pretty close. The taking out of yesterdays high and a higher close would confirm that. (IM and Joe Ross's HO)


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## Broadside (13 July 2007)

kennas said:


> When you put it in that perspective it would be a cheap buy, but I'm just going on the standard deal as far as takeovers go, and a 30% premium is the usual. If BMN were really worth those numbers wouldn't they be there now? Don't worry, I can hear you thinking that this is because it's undervalued. That has been talked about for some time and if they do potentially have that +/- 100m lbs, and a feasability study says it's a goer at $XX capex to production, and they get the funding, or JV partner, then sure. But there's a reason it seems so undervalued at the moment, I just don't know what it is.
> 
> PS, your not suggesting that if someone were to take over BMN now, they'd have to pay $14 are you?




If someone made an opportunistic low ball bid the 30% premium wouldn't cut it, I think it would force others' hand.  Anyway, no sign of it happening, let's wait and see what the scoping study tells us, it should fill in a lot of the gaps and uncertainties and light the way forward.


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## the barry (13 July 2007)

kennas said:


> When you put it in that perspective it would be a cheap buy, but I'm just going on the standard deal as far as takeovers go, and a 30% premium is the usual. If BMN were really worth those numbers wouldn't they be there now? Don't worry, I can hear you thinking that this is because it's undervalued. That has been talked about for some time and if they do potentially have that +/- 100m lbs, and a feasability study says it's a goer at $XX capex to production, and they get the funding, or JV partner, then sure. But there's a reason it seems so undervalued at the moment, I just don't know what it is.
> 
> PS, your not suggesting that if someone were to take over BMN now, they'd have to pay $14 are you?




I really think the problem with bannermans, along with all the other actual quality uranium companies is the sheer number out there. Every man and his dog has done a u-spinoff which has taken the gloss off the few quality uranium stocks that are out there. Personally I won't be parting with my shares until the jorc comes out at the end of the year. I think that it is going to significantly suprise everyone with the size and average ppm. Which in turn will hopefully get the wolves circling, although I would like to hold this one till production. 

Happy hunting


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## Sean K (13 July 2007)

56gsa said:


> Look at this another way - say US$15/lb is an acceptable takeover level for a company like BMN ...



The only other 'negative' issue I have with your valuation based off the SMM takeover, is that I think that you've only assessed SMM of the current Valhalla and Skal JORCs, and not included the rest of the projects. That's like assessing BMN just on the Anomaly A inferred JORC and not including the potenatial upgrade and it's other sites, including Botswana. This has been mentioned before in this thread ages ago I think. Perhaps there's been another recent takeover which is a more apples and apples approach to valuation??

I think Chris was comparing it to the current takeover in Namibia, but there's holes in that too I think.

But as has been mentioned might be a bit premature talking takeovers anyway....shoring up Anomaly A is the first priority I think. And by what's been produced this will turn into a decent resource, and a mine, saving any catastrophes.


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## 56gsa (13 July 2007)

kennas said:


> The only other 'negative' issue I have with your valuation based off the SMM takeover, is that I think that you've only assessed SMM of the current Valhalla and Skal JORCs, and not included the rest of the projects.



PDN_SMM was US$22/lb - so I have reduced to $15 which to me is a very conservative value - SRX's takeover of EMC was at US$30/lb

I agree this is all mere speculation but interestingly after doing these calcs I then checked what BMNs declared resources - and lo and behold the number I arrived at above - 27m lb - is almost exactly what they have defined (so far) as an inferred resource for AnomA @ 100ppm cutoff (don't think this is JORC?)


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## BSD (16 July 2007)

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahMsCGshVhaQ

Some interesting quotes...


*Adit's Mitchell said the uranium explorers, who have yet to mine a pound and are still developing projects, are most at risk. 

"Most of these companies are five to 10 years away from production,'' he said. They "have been the benign beneficiaries of a commodity that has risen inexorably higher and yet the companies have only produced paper. A lot have half a billion dollar market caps and it seems pretty easy to me what side you should be on.'' *


Demand from utilities to fuel nuclear reactors has plunged 72 percent from an April 6 peak, according to TradeTech LLC, which has tracked uranium prices since 1968. In the second week of July, 3.4 million pounds of the metal was available, more than three times the amount purchased by power companies. 


"There is a large possibility of a rapid correction,'' said Ian Henderson, who manages $3.6 billion in natural-resource assets for JPMorgan Asset Management in London. Uranium stocks account for 4 percent of his holdings. "Prices have the potential to fall to $70 a pound.'' 


*Financial investors, who have accounted for a third of the spot market transactions in the past two years, have "ceased all buying, they've vanished,'' *said James Cornell, chief executive officer of Nukem Inc., a Danbury, Connecticut, uranium trader. 


*"The utilities are on strike in the spot market and have no interest in paying these prices,*'' Adit's Mitchell said. 


However...

Nuclear power capacity will rise to 519,000 megawatts by 2030 from 370,000 megawatts last year, according to International Energy Agency forecasts. A large nuclear reactor has the capacity to produce about 1,000 megawatts of power. Uranium prices may climb to $200 a pound in the next two years, according to Max Layton, an analyst at Macquarie Bank Ltd. in London.


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## the barry (17 July 2007)

BSD said:


> http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahMsCGshVhaQ
> 
> Some interesting quotes...
> 
> ...




Really, you can find any quotes in that article to support your theory. What they also fail to mention in relation to cameco is the significance the Cigar lake mine has had on that fall in the cameco share price. The reason behind the latest drop is associated with the delays associated with bringing that mine into production and not the outlook for uranium. Cigar lake is a large basis on which there share price has risen, of course every man and his dog are going to sell it short, if there major project was pushed back again another year after already being delayed for years. 

The article also states

"I wouldn't recommend anyone short uranium stocks,'' said Bambrough who helps manage the equivalent of $5.2 billion, mainly in natural resources, in Toronto. 

In relation to bannermans, 

"Smaller mining companies such as Vancouver-based Tournigan Gold Corp. and Laramide Resources Ltd. in Toronto offer the best opportunities for gains because of their assets and because they are potential takeover targets, said Kevin Bambrough at Sprott Asset Management Inc." 

Come december when the resource is confirmed bannermans will be in this boat. As you pointed out, the companies that are five to ten years away from producing are most at risk. Bannermans is three years away from production. Although I doubt that they will ever get the chance to get to that stage due to the consolidation in the sector. The paladin ceo stated that they were on the look out for further acquisitions and that high tonnage, low ppm type deposits were the way to go. Bannermans fits this to a tee.


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## Jadefox (23 July 2007)

Terribly quiet here these days. BMN was sold through the 200 day ma today - a bit of panic selling likely. If it can close above $2.50 today it would look like
a good reversal bar.
The 'struggle' down after the June spike up looks bullish to me. I'm a holder once again.


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## drmb (23 July 2007)

Jadefox said:


> Terribly quiet here these days. BMN was sold through the 200 day ma today - a bit of panic selling likely. If it can close above $2.50 today it would look like
> a good reversal bar.
> The 'struggle' down after the June spike up looks bullish to me. I'm a holder once again.




Not sure what is happening here as it has droppped almost every day for the last month. Some tech analysis if possible wouold be greatly appreciated. I continue to hold since I see potential esp after listing in Canada is completed.


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## Sean K (23 July 2007)

drmb said:


> Not sure what is happening here as it has droppped almost every day for the last month. Some tech analysis if possible wouold be greatly appreciated. I continue to hold since I see potential esp after listing in Canada is completed.



Well, to be perfectly honest, I thought it hit a bottom at 2.75 and the gap up through 3.00 was a sign of the bottom, but it's lacking some serious support here isn't it. Perhaps those $100 valuations from Halba and Chris, aren't too close to the money at the moment? 

I bought more when I thought I saw a bottom and the gap up, but bailed on the breakdown through 2.75. Ouch. Obviously, has been way overvalued recently. 

My support levels are shown on this chart, but I have NO confidence in them now, and would prefer to be in a speccie stock that was respecting S&R lines, or in the bank earning 5% paying for beer.


----------



## the barry (23 July 2007)

drmb said:


> Not sure what is happening here as it has droppped almost every day for the last month. Some tech analysis if possible wouold be greatly appreciated. I continue to hold since I see potential esp after listing in Canada is completed.




I would be buying at these levels if I didn't already own the size of the stake I own. I don't know if it is because I am emotionally attached to this stock or if my analysis on this company is way off. Anyway, decemember for mine will tell me whether I am right or wrong when the jorc is released. Seems to be sold off in dribs and drabs with no volume at all. Not looking rosey at the moment.


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## SGB (23 July 2007)

kennas said:


> Well, to be perfectly honest, I thought it hit a bottom at 2.75 and the gap up through 3.00 was a sign of the bottom, but it's lacking some serious support here isn't it. Perhaps those $100 valuations from Halba and Chris, aren't too close to the money at the moment?
> 
> I bought more when I thought I saw a bottom and the gap up, but bailed on the breakdown through 2.75. Ouch. Obviously, has been way overvalued recently.
> 
> My support levels are shown on this chart, but I have NO confidence in them now, and would prefer to be in a speccie stock that was respecting S&R lines, or in the bank earning 5% paying for beer.




Kennas,
Bring up your 200 DMA.... ERN seems to be holding its 200 DMA.
U price might be factoring as well.


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## Sean K (23 July 2007)

SGB said:


> Kennas,
> Bring up your 200 DMA.... ERN seems to be holding its 200 DMA.
> U price might be factoring as well.



Yes, it has touched the 200 d ma, and in general theory should respect this. I have found this more reliable when it has coincided with horizontal and fib retractions. Maybe 2.50 is important, but I thought 2.75 was moreso.


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## aobed (23 July 2007)

As much as I am a believer in BMN, I have reduced my holdings to protect my capital.  My avg entry point was $1.90ish - so a little while till we hit that, but definitely in a down-trend now and no news forth coming.  There must be a lot of people out there worried about the price, particularly those that bought in around the $2.80 - $3.00 mark.  At that point I was confident we had found a new support level.. clearly that wasn't the case.

I still hold, albeit with a careful eye on the price.


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## chris1983 (23 July 2007)

kennas said:


> Well, to be perfectly honest, I thought it hit a bottom at 2.75 and the gap up through 3.00 was a sign of the bottom, but it's lacking some serious support here isn't it. Perhaps those $100 valuations from Halba and Chris, aren't too close to the money at the moment?
> 
> I bought more when I thought I saw a bottom and the gap up, but bailed on the breakdown through 2.75. Ouch. Obviously, has been way overvalued recently.
> 
> My support levels are shown on this chart, but I have NO confidence in them now, and would prefer to be in a speccie stock that was respecting S&R lines, or in the bank earning 5% paying for beer.




You see Kennas this is why I dont post on this site anymore because you post false information and you will probably delete this post.  Show me where I said BMN will hit $100.  A lot of forum members I know have moved off this site.  Well I'll let you get back to your falsified posts


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## Ken (23 July 2007)

If there is one thing I have learnt.

It is that your better off waiting it out on the sidelines, untill you can see a signal that a stock is turning.

PSA is a prime example of being patient and waiting for a change in trend. 

It will come with BMN and when it does thats when I will be looking at it.


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## BSD (23 July 2007)

So you have lost your money and your sense of humour too...

The last drilling results were great in my view, they reduced some of my concerns regarding low grade. BMN is doing everything you thought it would. Drilling, scoping etc...

It is just giving back its uranium-hype-premium. 

Anyway, aren't you there until production?


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## Broadside (23 July 2007)

Ken said:


> If there is one thing I have learnt.
> 
> It is that your better off waiting it out on the sidelines, untill you can see a signal that a stock is turning.
> 
> ...




I thought that happened around $2.80 and I averaged up at that level, it then went to $3.20....surprised we are back at this price today because the last couple of announcements give me more confidence in its fundamentals (and resource size) than ever.  I am confident for the future, this doesn't faze me but I would have preferred to top up cheaper.


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## Ken (23 July 2007)

PSA spiked on the way down at $1.70 back up to $1.95.  it then fell to $1.32 before spiking again to $1.59. It then spent over a month of sideways against between $1.40ish and $1.54ish.  It tested $1.32 again before running to its current closing price of $1.79.

THe sideways action is consolidatition in my eyes.

Having said that you could say the same thing about BOL.   

Speculation, news, is what determines the direction a share is heading.

So why is BMN heading south?  that is the question i am asking myself?

IS it the lack of news? or the wait untill D-Day?


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## chris1983 (23 July 2007)

BSD said:


> So you have lost your money and your sense of humour too...
> 
> The last drilling results were great in my view, they reduced some of my concerns regarding low grade. BMN is doing everything you thought it would. Drilling, scoping etc...
> 
> ...




Is this directed at me BSD?  If Kennas's post was supposed to bring humor I didn't see it that way and I highly doubt most people thought they were supposed to be humorous..especially when most members know we dont have a liking for one another.

I have only lost some of my paper gains.  Still very much ahead as I entered very early.  And yes I am holding for the next 6 months thats for sure.  Waiting for the scoping study/tsx listing and final resource estimate..before I make any decisons.  If they are positive which I am expecting I will continue to hold.


----------



## Synergy (23 July 2007)

I'm more concerned with picking my top-up point rather than worrying about it falling further. For me a lower price with BMN means better value rather than a  sign of weakness.


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## Rob_ee (23 July 2007)

_from my back in May posting_
I am not trying to talk down the share price .. rather expressing an opinion based on my limited understanding (I made that quite clear)

_There seems to be some despair in recent posts as to why with Uranium at record prices the ASX at record levels the DOW at record levels the BMN price has been retreating at such a rate.

It may possibly be because of the 6.7c options SOME of which may be being offloaded.

I have no interest at all in BMN and never will unless the price falls below 2.49 which is the maximum my MS exploration considers... I guess that will never happen.

Only being in the market for 4 months I try to look at all stocks to try to understand why they are trading at current prices and the logic that drives the market even though I will in all probability never trade them._

I had almost forgotten I ever posted on this thread

Low and behold 2 months down the track and my MS exploration schocked me by bringing up BMN as a addition back on my watch list of spectacularly fallen stocks (when I posted I think around $3.40 mark ).
And I thought with all the hype at the time it would/could never fall below the 2.50 mark. The market never ceases to amaze me.

So perhaps I will get the chance to join the BMN brotherhood after all once it shows signs of bottoming and an upward re-tracement begins.

I still have no idea what Banerman has other than uranium in the ground and don't really care.
Price and especiaslly price direction is all that matters which has stood me well so far with stocks like AXM and ESG... just beginers luck I quess 

Rob


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## Bushman (23 July 2007)

chris1983 said:


> Is this directed at me BSD?  If Kennas's post was supposed to bring humor I didn't see it that way and I highly doubt most people thought they were supposed to be humorous..especially when most members know we dont have a liking for one another.
> 
> I have only lost some of my paper gains.  Still very much ahead as I entered very early.  And yes I am holding for the next 6 months thats for sure.  Waiting for the scoping study/tsx listing and final resource estimate..before I make any decisons.  If they are positive which I am expecting I will continue to hold.




I must say I did not think Kennas post was anything to be worked up about. He was simply stating that he did not agree with BMN being a buy in the short term and backed it up with his charts. I for one am grateful for his opinion as I was weighing up BMN against some other stocks at the time and it would have been the wrong time to make an entry into the stock. 

Having said that *I think your research is excellent *and if I was sitting on your paper profit then I would stay in for the 6 month duration and see where this takes me. 

To me this share is drifiting short term as the action moves elsewhere. As the key reporting dates come to fruition, the excellent resource estimates are firmed up with feaso studies, and the market comes back to uranium based on the high commodity pricing profile, then $2.50 will be a memory and those broker reports quoting $4.50 in 6 months will be spot on. All this is subject to scrutiny and is my opinion only so there is no need for me to take offence if anyone disagrees with me. That is what the IMO, DYOR disclosures are for I would have thought.


----------



## chris1983 (23 July 2007)

kennas said:


> Well, to be perfectly honest, I thought it hit a bottom at 2.75 and the gap up through 3.00 was a sign of the bottom, but it's lacking some serious support here isn't it. Perhaps those $100 valuations from Halba and Chris, aren't too close to the money at the moment?




Thanks Bushman.  I just dont like falsified posts such as saying I put a $100 valuation on the share which I have never done.  I have put a $10 valuation on the stock from memory though.


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## drmb (23 July 2007)

Boy o' boy, it's starting to sound a lot like HC in here!  
I really think personal attacks are not the way to go! My (rather naive) research last year and entry points still give me a paper profit, and I still have confidence in BMN. I am thinking to hold until production at least, and am looking at getting more but wondering at what entry point? Will it go back to 2.00? Hopefully this week will see the slide halt.


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## Joe Blow (23 July 2007)

Agree with drmb. Lets lay off the personal attacks please. They are both unneccessary and uncalled for. If you want to go calling other people names then go do it at another forum where they don't mind, because it's not acceptable here.

Secondly, anyone who has a problem with moderation at ASF, contact the moderator in question by PM and sort it out privately. Provoking and attacking moderators in public is not on. They are volunteers and donate their time to do what is essentially a thankless job. Please show them the respect they are due. Forum moderators are never going to be able to please everyone but I think ours are pretty even handed and fair minded and they have my full support.

Now, lets keep this thread on topic please.

Thank you for your attention. Carry on.


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## Sean K (24 July 2007)

chris1983 said:


> Show me where I said BMN will hit $100.



Did anyone else not think this was a joke? LOL  I suppose it's not in good taste when people are losing money and I appologise to anyone who is in the red here and this offended you.

I have to still agree with support at this level with the horizontal support and the 200 d ma. But I also stick to my personal call that this has failed through so many support lines over the past 3 months, that S&R becomes less reliable. So, until it starts making higher lows and highs, it's still in no man's land IMO. Anyone can disagree with this and have a firm conviction that this is a bottom if you like, with some justification.  

It'll probably bounce to $100 now!  LOL


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## DAZT49 (24 July 2007)

Chris and Kennas..how about meeting me down at my local tavern for a few calming beers and a bit of bonding, we can chat about the footy, Mark Webers lucky third place,wether McGill is going to take a truckload of wickets and compare our paper losses.
Guru Daz


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## the barry (24 July 2007)

For what its worth mcmahon bought another, wait for it, drum roll please................... build the anticipation....................... still building ............... another 18000 shares. Hardly inspiring, but at least he wasn't selling.


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## Sean K (24 July 2007)

the barry said:


> For what its worth mcmahon bought another, wait for it, drum roll please................... build the anticipation....................... still building ............... another 18000 shares. Hardly inspiring, but at least he wasn't selling.



Yes, more positive than negative of course. Looks like it might have saved the stock from sliding further for the moment. Looked untidy at the open. 

I hope that new investors have survived this fall if they bought it at the top. For those that are still holding, here's hoping that the further drilling is in line with the more bullish expectations and it picks back up relatively quickly. I know how it feels to be sitting on large paper losses. All the best.


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## Go Nuke (24 July 2007)

kennas said:


> Yes, more positive than negative of course. Looks like it might have saved the stock from sliding further for the moment. Looked untidy at the open.
> 
> I hope that new investors have survived this fall if they bought it at the top. For those that are still holding, here's hoping that the further drilling is in line with the more bullish expectations and it picks back up relatively quickly. I know how it feels to be sitting on large paper losses. All the best.




Thank you Kennas!
That about sums me up
As Im learning as I go with the share market, i believe that if I had of looked and understood charts more, I would have done FAR better to sell when the short term moving averages fell through the long termers. HOWEVER I now look back and see that I was following the fundamentals.

I still believe in BMN's fundies, but it could have saved me some grief watching as the sp gradualy moved down if i had bailed out earlier.
Seeing it hit a low of $2.43 is quite depressing
Not knowing what i know now, means I have held onto my shares in Bannerman and am now suffering from not just a paper loss, but what feels like I might need a blood transfusion from countless paper gashes!:grenade:

I really value both sides of the coin that both Kennas & and Chris bring to this forum.
I hope you guys dont hold grudges

Anyway, it was good to see directors buying shares (and why not when it hits these low prices) Hopefully that NOT what held up the share price today.

{Have you bled to death yet Moneybags???}


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## Broadside (24 July 2007)

It's not all bad Go Nuke, if we assume it will see fresh highs (as a holder, I believe we will) it is possible to get too smart by half and overtrade the rises and dips.  The fact you have held through the rough patch means that you are closer to the magic 12 month holding period, by which time you can sell for half tax.  Of course you may be in a loss position at the moment, and it may keep falling....but sometimes a buy and forget strategy is the way to go rather than trying to time everything to perfection.


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## DAZT49 (24 July 2007)

Dont know what happened today, did the wind change?
I heard there is some kind of BMN presentation tomorrow, perhaps punters feel that this will be good for the SP
Here is another Bollinger Band chart, similar to my post of 12/7 but this time the price bar opens below the bottom band trades thru it to finish on the days high, and takes out yesterdays high on slightly bigger volume.
All in all a perfect indication of an emminent reversal IMO DYOR(yeah I know, blind freddy could look at that bar and make that judgement)
A crossover on the MACD signal line,and an upturn of the RSI are little extra signs as well.
As I have said many times, the volumes and flukey trading are still a worry,
but all in all....bring on tomorrow


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## Moneybags (24 July 2007)

Go Nuke said:


> Anyway, it was good to see directors buying shares (and why not when it hits these low prices) Hopefully that NOT what held up the share price today.
> 
> {Have you bled to death yet Moneybags???}




Hehe, not quite Go Nuke ......I'm still in and haven't sold a thing but it is my intention to accumulate more of BMN at these prices as I am not yet fully loaded. I do believe in the fundamentals of this co and believe management have the shareholders interests in mind. Of course with a director purchase announced today all seems to be on track and I will take this as a signal to now top up.

Agree with your comments re the charts however BMN is a long term hold for me and watching the SP day after day drives me insane to be honest.

MB


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## the barry (24 July 2007)

Promised myself I wouldn't buy anymore of these shares, but found myself pulling the trigger again. I'm really not sure if i am emotionally blinded by this stock and this is blinding me to the bigger picture. I believe fundamentally this stock is very sound, yet despite all of the things i percieve as positive (ie drill results, capital raisings at high prices, directors buying albiet small parcels...etc) the share price keeps declining. The other problem that is annoying me is that people sell this stock down in tiny parcels where 5 thousand stock may change hand and the stock is down 10 to 15 percent.
Fortunately for me the remainder of my portfolio is allowing me to absorb the hits, as i really do want to keep this as a long term stock. I think bannermans has a big future and will fulfil its goal of becoming a top 10 producer once it gets its mine in full swing. Hopefully today brings a change in sentiment, there seemed to be a rush towards the end of the day to get shares. Good luck to all holders, patience is a virtue (allegedly...).


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## captjohn (24 July 2007)

Hi Guys,

 "Captain Yellowcake " is back from Thailand now .....& interesting to read all the ASF posts & news  over the past 2 months !!!

I reckon the international Uranium price has stabilized now & lots of Uranium companies ' share prices are nudging their 200 day moving averages (which should be the strongest support level.)

This sorta rewinds the clock to zero & winds up the spring for the next bull run.

Especially for bmn with fundamentals getting stronger all the time  with increasing their resources  estimates by 4 or 5 times....

Absolutely fantastic to see the latest drilling extensions ( http//img213.imageshack.us213 etc. etc. ) ....& all looks good for 100 mill. pounds plus by years end.
.....scoping study in a few weeks,    TSX listing.... etc...

Aust. Uranium conference in Fremantle tomorrow.

 Bmn (& many others have 20 minutes  each to tell & sell their story)....& I predict many will be envious of what  resources BMN  have & will have within 12 months .  Areva & other big boys will sit up & raise eyebrows.

Anyway.....glad to be back guys & looking forward to a great finish to the year  for all my long termer friends out there!!


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## BSD (24 July 2007)

Can one of the many posters sighting 'fundamental value' in BMN please outline their valuation metrics beyond the deeply flawed EV / U lb in ground numbers?

It is certainly better value now since the recent drill results gave a large boost to grade and tonnage and a 30% fall in the share price - but I am still to see a worked example of the 'fundamental value' in BMN.


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## DAZT49 (25 July 2007)

welcome back Cap'n,
The SP on your return must have shocked you, or did you keep an eye on things on your sojourn.
Will be good to have your input again, Chris and others have been filling in admirably cap'n, tho Chris is on enforced leave at atm.
Kennas thinks he is not the Messiah...just a very naughty boy lol
Hopefully they can make peace...like the Arabs and the Jews, the US and Iraq/Iran/Afghanistan/Pakistani's and whoever else George Doubleya doesnt like.
Good time ahead for BMN LTH's.


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## rtc1769 (25 July 2007)

Captain good to have you back to steady the ship. A few of the swobs have been abit rowdy while you have been in the land of "LOVE YOU LONG TIME". Do you have any idea when to boys will hit the stage in Freo.


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## the barry (25 July 2007)

Dont like the gap at the end today, shares on offer to buy at around the 2.57 mark and shares for sale at the 2.77. I really think tomorrow is going to be a crucial day for bannermans, fingers crossed that both uranium and the dow surge over night. :


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## Areo (25 July 2007)

Hey Areo,

You forgot to mention the report says the Namibian government is actively addressing water and power requirements for the mining industry, the timeframe for which is stated as 2009.

It will be interesting to see how this relates to BMN - given the location of Goanikontes, any infrastructure running to Rossing from the coast pretty much passes right through.

Areo


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## 56gsa (25 July 2007)

BSD said:


> Can one of the many posters sighting 'fundamental value' in BMN please outline their valuation metrics beyond the deeply flawed EV / U lb in ground numbers?
> 
> It is certainly better value now since the recent drill results gave a large boost to grade and tonnage and a 30% fall in the share price - but I am still to see a worked example of the 'fundamental value' in BMN.




BSD - there is some discussion back a couple of pages - start at #2110... this is based on potential takeover value.  Interesting when I did this I came up with the current pricing for BMN assumes a resource of 27m lbs - which is exactly what they have announced to date.

Another way would be to try and cobble together an NPV using a number of assumptions eg CAPEX, timing for production, but would also need to know resource - interesting exercise but not sure how valuable given all the unknowns - takeover value is a good surrogate because someone else has done that sort of number crunching for you

Any other ways you can think of to determine fundamental value??


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## Ken (25 July 2007)

This is exactly the sort of news that could change the trend of BMN.

2000 shares in BMN could be worth the wait come 2011.


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## Sean K (31 July 2007)

It seems that BMN's latest ann has filtered through the analyst community and some more detailed revisions have come out, which are pretty bullish.

Carmichael maintain a strong buy on the stock and think a realistic final estimate from Anomoly A could be 75 Mt at 300ppm containing 50m lbs U. This is under what I have plucked, about 100 m lbs by extrapolating the current inferred estimate by the final drilling target. I'm not sure about the 300ppm, the grades seemed to have been a bit lower, but the final tonnage higher. Not sure why they've gone this way. BMN themselves have gone for somewhere between 150-200 Mt, at 100ppm cut off. An average of 250ppm would be outstanding for this tonnage. Even 200ppm could make it a very promising project. 

Carmichael Report 

Hartley's also maintain a speculative buy on it, but they are plucking a 160 m + lb resource. Pretty big numbers they're throwing about. 



> Comments and Summary
> 
> Bannerman is progressing the Goanikontes Anomaly A deposit on a number of fronts. The extensional and infill drilling is confirming the potential for a very large (+160mlb U3O8) Resource. We believe that when the scoping study is released, it will highlight that Anomaly A will support a large, long life mine with good economics. The projects risk and economics have also been improved with the commitment of the Namibian utilities to complete the power and water infrastructure 6-12 months ahead of Bannerman's planned production commencement.
> 
> ...



Can find it here:

Hartley's report

SP is still suffering...I maintain $2.50 as pretty good support for the minute, but anything could happen in this volatile environment...Long term it's looking pretty good with these number being thrown about.


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## drmb (31 July 2007)

kennas said:


> Hartley's also maintain a speculative buy on it, but they are plucking a 160 m + lb resource. Pretty big numbers they're throwing about. Can find it here: URL="http://www.mineweb.net/mineweb/view/mineweb/en/page674?oid=24233&sn=Detail"]Hartley's report[/URL]




I read with interest that the Hartley's estimate of a +160mlb U3O8 Resource is for Anomaly A deposit ONLY, there are other anomolies as well! (I hold)


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## DAZT49 (1 August 2007)

Some of our best posters on the BMN thread have gone to another forum due to 'artistic differences' with the moderator.
i am here..nowhere near as qualified as them but lets keep it going.
The cashflow report yesterday gave $11 mill in the kitty as at 31/6/07
so a JV is the only way they can actually finance the thing, isnt it??
Thoughts anyone?
Or a takeover.


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## Sean K (1 August 2007)

DAZT49 said:


> Some of our best posters on the BMN thread have gone to another forum due to 'artistic differences' with the moderator.
> i am here..nowhere near as qualified as them but lets keep it going.
> The cashflow report yesterday gave $11 mill in the kitty as at 31/6/07
> so a JV is the only way they can actually finance the thing, isnt it??
> ...



They could do a little bit of a capital raising. Like about a half a bill. I'm expecting a takeover. No artistic differences here Daz. There is a place for everyone on the various stock forums. ASF has posting rules that members are expected to follow. The vast majority are more than happy to, and even assist in their application. No more needs to be said. All the best.


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## 56gsa (1 August 2007)

have attached a valuation table for all of you to play with - uses the USD 7 /12 per lb valuations that I read are what the average is on the ASX / TSX of U stocks , as well as possible takeover valuations, and the recent resource estimates Kennas mentions above... have fun - crazy stuff!

i might add one possible reason this is appears to be conservatively valued is that production - if it happens - is estimated for 2010/11 which is when cigar lake - if it happens - is now predicted to come online - U price would then presumably be dropping (until i think 2013 when russian secondary supplies end?)


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## Sean K (1 August 2007)

drmb said:


> I read with interest that the Hartley's estimate of a +160mlb U3O8 Resource is for Anomaly A deposit ONLY, there are other anomolies as well! (I hold)



Yes, absolutely. They have some very prospective tennaments, Anomoly A just seemed to be the priority. Any TO would have to have a premium for the rest of their EPLs, if it does come to that. Lots of speculation, but with the other juniors falling around the place it seems like a very strong possibility. Probably not what the _very _long holders want though. There is a perception that true value for their shares would not be realised if there was a takeover. On the otherhand, if it's a script bid, you still get the exposure to BMNs current potential, plus whatever the predator brings, and that might be even better! Just thinking out loud. At the moment, there are expectations of a 75 - 160 Mt resource and if they don't deliver, then.....


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## Sean K (1 August 2007)

56gsa said:


> have attached a valuation table for all of you to play with - uses the USD 7 /12 per lb valuations that I read are what the average is on the ASX / TSX of U stocks , as well as possible takeover valuations, and the recent resource estimates Kennas mentions above... have fun - crazy stuff!



That seems to add up, but also seems improbably right now don't you think? Who pays over 50% premium, let alone 300%+. There is a reason why it's not been valued according to these figures, but I do not know why. The simple answer that it's overlooked, or Australia doesn't understand Namibian explorers doesn't cut it for me. Even cabbies here in Lima have heard of Paladin! :dunno:


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## the barry (1 August 2007)

wow.............. this thing is really bleeding, nothing on the buy side and everything on the sell. Hard to pick where it will stop. Not looking good in anyones language, then again what is on a day like today?? Where is the market going to stop?


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## Go Nuke (2 August 2007)

OMG

I think I'm going to go die somewhere now:grenade:
$2.29 at the moment.
If only I had more experience in trading or the stockmarket in general, i wouldn't have been in this situation right now.

Ok..maybe before I was hoping for a takeover offer...but not anymore
If someone made an offer now (is 20% higher than the sp the general rule?) Im sure to lose out with whatever offer they put forward

I know...I should just remove BMN from my watchlist and come back to it at Xmas time.


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## Ken (2 August 2007)

I have a wod of Cash looking for a home.

BMN is looking like it might be getting it.


Finger will be in the pulse.

Will be spreading my entry points...


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## monaliza (6 August 2007)

Ferret's Stocks to Watch: BANNERMAN & EXTRACT RESOURCES 
08:58, Monday, August 06, 2007

        TWO LOCAL EXPLORERS JOIN IN SEARCH FOR URANIUM IN NAMIBIA

        Sydney - Monday - August 6: (RWE Aust Business News)
        ****************************************************

        Two WA-based uranium explorers are drilling for uranium in the
highly prospective regions in Namibia on the African continent.
        They are lead company, Bannerman Resources Ltd (ASX:BMN) and
associate Extract Resources Ltd (ASX:EXT).
        The regions in which the two explorers are working are highly
regarded as potential uranium producers.
        Directors of the companies have organised a party of journalists
and stock broker researchers to look over their operation in Namibia in a
couple of weeks time.
        Focus of attention is the Husab Project (EPL3138) which is a
joint venture with West Africa Gold Exploration (Namibia) P/L (WAGE), a
wholly owned subsidiary of Kalahari Minerals Plc, and Extract Resources
(Namibia) P/L.
        The project is located in Namibia about 50 kilometres east of the
coastal town of Swakopmund.
        The focus of current exploration is the 550 square kilometres
EPL3138 which is situated in a known uranium province strategically
located between the Rossing granite (alaskite) hosted uranium mine (Rio
Tinto 68.6 per cent), and the palaeochannel-hosted Langer Heinrich
deposit, currently being developed by Paladin Resources Ltd.
        This area is also prospective for base metals, and industrial 
metals.
        Extract has earned a 51 per cent interest in the Husab Joint
Venture by spending $400,000 on exploration.
        There is also a licence application over EPL3439.
        The target currently being drilled represents only one of a
number of known uranium-bearing alaskites within the 550 sq km project
area.
        Significant results received to date include: 
        * 4.5m @ 1.246 kg/t U308 including 0.5m @ 9.597 kg/t U308;
        * 2.0m @ 1.019 kg/t U308;
        * 10.0m @ 0.335 kg/t U308;
        * 10.2m @ 0.264 kg/t U308;
        * 41.0m @ 0.361 kg/t U308;
        * 8.0m @ 2.316 kg/t U308;
        * 6.0m @ 0.890 kg/t U308;
        * 14.0m @ 1.063 kg/t U308; and
        * 9 metres at 1.077 kg/t U3O8
        The first holes ever drilled on the Ida Central target have 
intersected potentially economic grade uranium.
        These high-grade results (for alaskite hosted primary uranium 
mineralisation) are exceptional, given that the evaluation of the Ida
Central target is still at an early stage.
        The dramatic increase in uranium exploration is related to
current global reactor demand.
        A total of 442 reactors are currently operating, producing 16 per
cent of the world's electricity in 31 countries.
        Twenty eight reactors under construction and 222 reactors are
planned or proposed.
        Annual production of 41,600 tonnes of uranium compares with
annual reactor demand of 66,500 tonnes.
        The secondary supply market is heavily drawn down and speculative
hoarding and hedging have been taking place, while demand is set to peak
around 2010-2012. 
        The US has 26 per cent of the total nuclear power stations, next
comes France with 17pc, Japan 13pc, Russia 6pc along with Germany.
        Bringing up the rear is South Korea 5pc, Ukraine 4pc and Canada
3pc.

        SHARE PRICE MOVEMENTS
        *********************

        Shares of Bannerman Resources rose 5c to $2.40 on Friday. Rolling
high for the year is $3.94 and low 41.33c. The company has 127.5 shares
on issue with a market cap of $306 million.
        Shares of Extract Resources rose 9c to 75c on Friday. It has 184
million shares on issue with a market cap of $138 million.
        Bannerman says the major projects are located in Namibia,
adjacent to the Rossing and Langer Heinrich uranium mines.
        Additional uranium projects are in Botswana. 
        The first deposit is to be drilled out by end of 2007 and is
heading towards development.
        In April 2006 the company began an 8,000m drilling program at its
51 per cent-owned Husab project, situated in a known uranium province
strategically located between the Rossing granite-hosted uranium mine,
and the palaeochannel-hosted Langer Heinrich deposit.
        The drilling followed a ground-based spectrometer survey which
indicated uranium mineralisation along a strike distance of over four 
kilometres on the Ida Central target.
        The commencement of the maiden drilling program has been a
highlight for the company, particularly after assays confirmed excellent
uranium grades over substantial widths.
        While this program is at an early stage, the initial results have
exceeded initial expectations, and gave the company confidence in the
ongoing evaluation of the Ida target.
        Three other targets have also been established on the 550 sq km
area, with more detailed metallurgical work having been commenced on the
historic fluorspar area where uranium, copper and lead are associated
with the fluorspar in multiple narrow veins striking a number of
kilometres.
        The other promising targets identified appear to be the southern
extension of the Rossing stratigraphy, and the eastern extremity of the
Goanikontes Dome.
        In April Bannerman Resources completed the initial diamond
drilling program at the Goanikontes project.
        The data provided from this program, combined with the re-probing
and downhole photographing of historic holes, has closely approximated
the information derived from the historic drilling proving this
information to be accurate, relevant and valid for estimating the uranium
resource at Goanikontes Anomaly 'A'.
        The grades are also consistent with production grades produced
from the Rossing mine, located just 30km to the northeast, which produces
at a grade between 300 and 400 ppm U3O8.

        BACKGROUND
        **********

        Bannerman Resources Ltd is an emerging international uranium
producer with operating projects in Namibia and Botswana and licences in
Australia.
        The company's major focus is on exploring and developing uranium
projects in Namibia and Botswana.
        Bannerman Resources was incorporated in February 2005 as a public
company for the purposes of acquiring prospective exploration projects
that are generally under explored.
        The Board has a proven track record of recognising and advancing
under explored projects and these skills will ensure maximum returns from
the current portfolio of projects.
        The Board's primary aim is to become a successful and profitable
exploration and mining company, advance the shareholders interests and
asset values.
         The White Ring (35pc) project is located in the Ashburnton
mineral field in WA.
        Previous explorers have reported significant levels of uranium 
mineralisation (up to 1,840 ppm).

        BACKGROUND
        **********

        Extract Resources is a listed mining and exploration company
based in Perth, with operations in both Australia and Namibia.
        Extract's main focus is to invest in advanced exploration and/or
development opportunities with a key focus on highly prospective uranium
projects.
        The first investment for Extract was the development of the NOA2
gold resource at Burnakura.
        Cashflows from this project together with additional capital
raised will be applied towards increasing Extract's mineral inventory
through both exploration and other acquisition opportunities, such as the
company's Namibian operations and a renewed focus on uranium exploration.

        Extract's growth strategy is to position itself as a well-funded
uranium exploration company with robust wholly owned projects that are
capable of being advanced to a resource definition stage in the short
term.

*Is this mean take over for both by AREVA or COMMEC *


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## DAZT49 (6 August 2007)

Mona,
Wish people would stop putting out these positive reports!!!!!!!!!!
Down 19c. Hopefully scoping study will be released in the next week or so, tho I dont know what that is going to do to increase SP, we all know how good BMN is or are we just blowing smoke up each others portfolio!!


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## nomore4s (6 August 2007)

nomore4s said:


> The second chart is an EW count I have been following, the chart is from the 6th of July. The target for the end of wave (2) is anywhere between $1.95 & $2.25ish but this is by no mean certain, in general a wave 2 normally retraces anywhere between 50% - 70%. But the good news is there's a wave 3 to come if it remains valid, lol.
> 
> I don't hold and this is purely educational for me, although if the finish of wave2 is confirmed I may look at entering a trade for the wave3.
> 
> Good luck to holders.




Sorry to quote myself.

We've hit the $2.25ish mark, but with the current market and the sentiment against most of the U companies atm, I have actually revised my larger wave 2 price target but won't post it on here for fear of upsetting the BMN boys: 

Current chart with the trend channel shown, will be looking for a bounce off the bottom of the channel - depending on the overall market of course, but imo it could coincide with a bounce in the general market (we must be due for some sort of bounce in the XAO/XJO/DOW?)


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## DAZT49 (7 August 2007)

nomore,
Is that Elliot wave stuff??
My chart here is of the DJI (Dow Jones Index), as I feel it has relevance to all stocks ATM.
After the drop of 312 pts on the 26th the DJI dropped into a 6 day 'congestion'
IE the market opened and closed within the high and low of the first correction bar for that period.
(The 26th coincides with a BMN high ,3 day upward swing)
We need the DJI to open and close higher than that range (13448)to signify a breakout of congestion.
Of course it can go the other way,but the fact that it closed near its high yesterday means that there may be some optomism in the market.
Lets hope so anyway 
All IMO and DYPR of course.


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## Sean K (9 August 2007)

OMG a black candle for BMN maybe today! LOL  But I'm afraid of counting chickens, this hasn't been finishing well recently. $2.25 support was mentioned pages and pages ago (which was comprehensively poo poo'd by some of the more bullish ), and perhaps it is the final support? We won't know for a while IMO. Breaking $2.50 will be a good start but cracking $2.75 horizontal resistance and that downward line will be much better. We may then be able to start saying we _might _have seen a bottom. Hope you people still long are managing. I still think this will go OK in the long term. The fundamentals seem to be there, but at what price is the question I suppose. Should get another drilling update shortly I imagine. Anyone got a proposed date of the scoping study? It supposed to be this quarter by their timetable, but no month that I can find.


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## DAZT49 (9 August 2007)

kennas,
I you watch the day trading that goes on with BMN (and I am sure you do)
you would note that BMN frequently has these little runs up or down in the morning and goes the other way in the arvo.
But I am enjoying today..so far.


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## drmb (9 August 2007)

kennas said:


> Hope you people still long are managing.



I first bought in at 1.00, then topped up at 1.50's, so not feeling any pain. Always bought with a veiw to hold for 2 years, or at least until a to, which would be not unexpected!


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## DAZT49 (9 August 2007)

The scoping study is due mid August according to Peter Baten when I rang BMN a couple of weeks ago, so maybe next week.
From another source..
There is some kind of media tour to Namibia late this month and journo's will be given a copy of the scoping study, so you would think it should be lodged at the ASX soon.


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## Sean K (9 August 2007)

DAZT49 said:


> The scoping study is due mid August according to Peter Baten when I rang BMN a couple of weeks ago, so maybe next week.
> From another source..
> There is some kind of media tour to Namibia late this month and journo's will be given a copy of the scoping study, so you would think it should be lodged at the ASX soon.



Thanks Daz. It's cracked 2.55 so first hurdle over, as long as it finishes OK. As we've seen in normally falls over toward the end of the day. If it doesn't then I'd be more bullish on it's fortunes changing short term.


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## drmb (9 August 2007)

DAZT49 said:


> The scoping study is due mid August according to Peter Baten when I rang BMN a couple of weeks ago, so maybe next week.
> From another source. There is some kind of media tour to Namibia late this month and journo's will be given a copy of the scoping study, so you would think it should be lodged at the ASX soon.




The media tour to Namib is fully booked. Apparently Carmichaels, Fat Prophets, Hartleys etc, plus mining magazine journos will be going. I imagine they will want to have the scoping study with them. There may be another tour -  contact Ms J Thomas, at Prof Public Relations (W.A.) Pty Ltd, http://www.ppr.com.au/ppr.htm (not a site if you have epilepsy btw) not sure of email address.

Disclosure - I hold PDN and BMN with view to long term, based on Position, position, position!!


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## Rafa (9 August 2007)

kennas said:


> Hope you people still long are managing.




yup, in at 70c, so managing just fine... actually sold my trading purchase bought at 1.80, for around 2.80 ish a month ago so i'm actually free carried, and will carry this all the way to production, if we get there.

agree about the 2.20 ish support, i also think 1.80 ish is a solid support level... regardless, this media tour may have something to do with todays gains


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## captjohn (9 August 2007)

drmb said:


> The media tour to Namib is fully booked. Apparently Carmichaels, Fat Prophets, Hartleys etc, plus mining magazine journos will be going. I imagine they will want to have the scoping study with them. There may be another tour -  contact Ms J Thomas, at Prof Public Relations (W.A.) Pty Ltd, http://www.ppr.com.au/ppr.htm (not a site if you have epilepsy btw) not sure of email address.
> 
> Disclosure - I hold PDN and BMN with view to long term, based on Position, position, position!!




Hi drmb,
I posted this info after being pestered by rtenn on another forum, namely H.C.
....its sorta picked up by you as if this tour is available to everybody out there that wants to apply.
Please leave this P.R. company alone as they are not interested in hearing from a mob of anxious investors desperate to see their SP increase all the time.
I wish I had never mentioned about the media tour to namibia etc.....I was asked to write articles for Stockinterview.com & I'll probably be going on the next trip
BMN   IMO is the company that will outperform in the next 12 months coz they have the goodies in the ground!!
Regretfully, I have left this forum  coz I get censored by kennas when I project my future SP for Bannerman,.... that's O.K. but he seems to be talking to himself a lot lately..


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## Sean K (10 August 2007)

captjohn said:


> Regretfully, I have left this forum coz I get censored by kennas when I project my future SP for Bannerman,.... that's O.K. but he seems to be talking to himself a lot lately..



EVERONE gets questioned initially, and then sensored, if they do not provide analysis for sp forecasts. Providing F/A or T/A for sp predictions is one of the most basic posting rules on ASF. No exceptions. People who continue to disregard this rule eventually get banned. Since some of the more obvious rampers have left this thread, the quality of posting seems to have improved markedly. Thanks for your contributions.


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## UMike (10 August 2007)

Thats the problem with BMN.

It is ramped so much that it makes me very wary of it.

In saying that if they drop as much as they rose today I might just nibble on them.


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## DAZT49 (10 August 2007)

kennas,
Go to disagree, Capn, Chris and a couple of others who have jumped ship and gone to HC gave valuable info and opinion for us mug punters. Your input is equally appreciated.. the more informed argument we can have the better.
If you look at the number of posts since they left, the thread is a lot quieter and the worse for it.
today is ging to be rough on the ASX..Dow down 380pts!!!
Hold tight everyone
cheers
daz


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## Sean K (10 August 2007)

DAZT49 said:


> kennas,
> Go to disagree, Capn, Chris and a couple of others who have jumped ship and gone to HC gave valuable info and opinion for us mug punters. Your input is equally appreciated.. the more informed argument we can have the better.
> If you look at the number of posts since they left, the thread is a lot quieter and the worse for it.
> today is ging to be rough on the ASX..Dow down 380pts!!!
> ...



Hi Daz, It's quality, not quantity, that ASF is after. If it's quiet, it means there's nothing worth posting on, and that's the way Joe wants it. I should add, there are hundreds of other threads here which seem to be humming along. ASF is not just a couple of uranium specs....

I agree it's going to be a difficult day across the board, unless you're short. It looks like this weakness is not going to be short lived either. If you are a long only player, it's going to be hard to make money in this environment. For the bulls, hopefully the bears are wrong, and this is a short lived correction.

All the best,
kennas


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## nomore4s (10 August 2007)

DAZT49 said:


> nomore,
> Is that Elliot wave stuff??




Sorry Dazt only just seen this, been pretty busy.
The original analysis for the $1.95-$2.25 target was EW, but the latest chart with the guess of a bounce is just support and resistance marked as a channel.



kennas said:


> EVERONE gets questioned initially, and then sensored, if they do not provide analysis for sp forecasts. Providing F/A or T/A for sp predictions is one of the most basic posting rules on ASF. No exceptions. People who continue to disregard this rule eventually get banned. Since some of the more obvious rampers have left this thread, the quality of posting seems to have improved markedly. Thanks for your contributions.




I agree Kennas, this is what sets ASF apart from the other forums.


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## champ2003 (10 August 2007)

kennas said:


> Hi Daz, It's quality, not quantity, that ASF is after. If it's quiet, it means there's nothing worth posting on, and that's the way Joe wants it. I should add, there are hundreds of other threads here which seem to be humming along. ASF is not just a couple of uranium specs....
> 
> I agree it's going to be a difficult day across the board, unless you're short. It looks like this weakness is not going to be short lived either. If you are a long only player, it's going to be hard to make money in this environment. For the bulls, hopefully the bears are wrong, and this is a short lived correction.
> 
> ...





All stocks won't go down even if it is a bear market as there will still be a great deal of stocks that continue a rise, you just have to be very selective of the companies that you are in.

Most of the top 200 will probably tank though as that's what the majority of the index is made up of.


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## Sean K (10 August 2007)

champ2003 said:


> All stocks won't go down even if it is a bear market as there will still be a great deal of stocks that continue a rise, you just have to be very selective of the companies that you are in.
> 
> Most of the top 200 will probably tank though as that's what the majority of the index is made up of.



Of course. There are a couple of green ones on my list. Is this the BMN thread? It went down 10% ish, so we may be able to just lump it with all the rest then. I don't really understand how your comments support BMN, it's being in a short term downtrend since mid April. The long term uptrend technically stopped when it went under the 200d ma, IMO.


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## Sean K (13 August 2007)

As anyone would know from reading this thread, I am a great supporter of BMN. Fundamentally, looks like it's got great long term potentatial. I have never denied this. I still own some!  

However, looking at the chart, I see a very large H&S, which gives a downward target of $1.25! This is a pretty broad pluck, so, give or take a few cents here or there. I find it hard to see $2.25 support broken....

Do any other TA's see this? I am an amateur at this game, so happy to have some feedback. 

Fundamentally, long term, I see them shoring up 125m lbs ++, and/or being taken over for quite a premium, which has been discussed through the thread, but this does not equate with this short term TA assessment at all.  

Hartley's have a spec buy at $2.69, who I respect.
Carmichael have a 6 mth target of $4.50. 

Perhaps this will be an opportunity for long term players to up the stake?

Thoughts?


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## Broadside (13 August 2007)

$1.25? lol good luck with that, maybe if they do another split!  if the broader market crashes then we may see lower levels but it seems that there was a lot of support around $2.10 - $2.20 frankly I don't think you will ever see $1.25.  Maybe as a dividend in about ten years.  I am not much of a TA but looking at the long term chart I see $5 in about 12 months' time.


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## Sean K (13 August 2007)

Broadside said:


> $1.25? lol good luck with that, maybe if they do another split!  if the broader market crashes then we may see lower levels but it seems that there was a lot of support around $2.10 - $2.20 frankly I don't think you will ever see $1.25.  Maybe as a dividend in about ten years.  I am not much of a TA but looking at the long term chart I see $5 in about 12 months' time.



That's your technical analysis evaluation Broadside, or your fundamental analysis? $5 in a year, on the chart? Can you please put one up to qualify that? Thanks.

$1.25 dividend in 10 years? Oh, you're are joking. LOL.  

I totally agree, $1.25 fundamentally seems absurd right now, but people were saying that about $2.25 not long ago. As I said, I think $2.25 looks like good support and fundamentally it should be valued higher. 

I think my point in bumping this thread with comments on FA and TA is to get some objective discussion, instead of just BS. Like $1.25 dividends! And $5.00 off the chart....


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## captjohn (13 August 2007)

Broadside said:


> $1.25? lol good luck with that, maybe if they do another split!  if the broader market crashes then we may see lower levels but it seems that there was a lot of support around $2.10 - $2.20 frankly I don't think you will ever see $1.25.  Maybe as a dividend in about ten years.  I am not much of a TA but looking at the long term chart I see $5 in about 12 months' time.




C'mon kennas, 

How can you call that a large "head &shoulders"??....unless its the hunchback from notre dame.  .....

IMO if  ever the worlds stock markets went into recession & all trading below their 200 day M.A.'s  then & only then would bmn & other strong stocks head down to  your predicted lower target....
Until that happens I wish you would stop posting such negative share price predictions.
Why don't you research whats happening in namibia with forsys metals & uramin takeovers & post something of fundamental value?


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## Broadside (13 August 2007)

fundamentally I think it is worth more than $5 in 12 months.  I don't know how to post charts and am not an expert.  Is my $5 any more arbitrary than your $1.25 target?  I know which one I think is more likely.

The $1.25 dividend was tongue in cheek.

I hold BMN, are you holding kennas?


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## DAZT49 (13 August 2007)

Kennas,
Think you have stretched the H & S, IMO it was more like my reading.
It took a while for the $2.44 to show then, as I have posted before I believe a rally was bashed up by the DOW.
I use (well ..observe) a simple 20 day countback line, which gives support at $2.21 and Resistance at $2 .60


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## DAZT49 (13 August 2007)

By the way, I try and base my trading decisions on a combination of TA & fundamentals taking into account the overall market, with a dose of rumour and innuendo on forums like this lol..


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## Sean K (13 August 2007)

captjohn said:


> How can you call that a large "head &shoulders"??....unless its the hunchback from notre dame.  .....



Capt, that is a H&S IMO, but they don't always eventuate. H&S occur in diagonal moves, both up and down. If you can't see it, then fair enough, it's a subjective art.

As I said, I find this hard to believe occurring, this is fundamentally a sound stock. 

Funny how you guys always concentrate on my negative comments when I am fundamentally supporting the stock. LOL. 



Broadside said:


> Is my $5 any more arbitrary than your $1.25 target?
> 
> The $1.25 dividend was tongue in cheek.
> 
> I hold BMN, are you holding kennas?



Yes it is, because it's not based on any TA principles. The $1.25 target is sound, based on basic TA. A H&S pattern breakdown gives a target of the distance from the head to the neckline and vice versa...Pretty basic stuff to be honest. However, this is not a certainty, just a probability, and considering the fundamentals of the company I find it hard to believe, as you guys obviously do. However, this is simply objective analysis. 

I own the stock. 



DAZT49 said:


> By the way, I try and base my trading decisions on a combination of TA & fundamentals taking into account the overall market, with a dose of rumour and innuendo on forums like this lol..



Daz, I'm with you. I invest, and I trade. A combination of both TA and FA. Seems some people here a blinded by TA.


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## captjohn (13 August 2007)

Broadside said:


> fundamentally I think it is worth more than $5 in 12 months.  I don't know how to post charts and am not an expert.  Is my $5 any more arbitrary than your $1.25 target?  I know which one I think is more likely.
> 
> The $1.25 dividend was tongue in cheek.
> 
> I hold BMN, are you holding kennas?




I agree with you broadside....and I'll put my money where my mouth is!!

Kennas,   

 I'll lodge $10,000 in trust for 12 months that bmn will  be $5 by then.(13 th. august 2008)

You match it  & I'll give you 2 to 1.

If we go into a world recession ....you'll win  $20,000.

 However,  IMO  bmn will prove up 150mill.llbs of u308 by xmas & sp will adjust accordingly.


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## Go Nuke (13 August 2007)

Ahhhh I've missed your positive vibe Cptn

God Kennas, please dont scare me with figures like $1.25! lol
I too agree that once more of thier resource is proven that the share price will return to its former glory days.
Even though the price of Uranium is now lower and alot of the hype surrounding Uranium has disapated, its still a resource that the world will need! Just like oil and coal, it'll become the next fuel of the future (thx to world over population and the lack of CO2 it emitts)

If Carmicheals is right about their price target though, Bannermans share price has got some work ahead of it


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## MattThomson (13 August 2007)

Ah dear, kennas, when will you learn? TA is worthless most of the time . You say $1.25? By when, and if so, why aren't you shorting instead of holding?


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## doctorj (13 August 2007)

MattThomson said:


> Ah dear, kennas, when will you learn? TA is worthless most of the time . You say $1.25? By when, and if so, why aren't you shorting instead of holding?



You might argue that FA is equally useless if you subscribed to EMH.  What makes an individual any better at pricing the fundamentals than the sum of the other market participants?

Disagreement makes a market...


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## MattThomson (13 August 2007)

Hehe, who believes in EMH? Anyway, theres are your fundamental market anomalies and your more technical anomalies to take advantage of if you spot them. Mostly preference I guess anyway (although I would like to know the accuracy of some of the TA's predictions  )

I was just poking fun of Kennas's $1.25 target tbh.

"The $1.25 target is sound, based on basic TA. A H&S pattern breakdown gives a target of the distance from the head to the neckline and vice versa...Pretty basic stuff to be honest." - Kennas, 07


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## Sean K (14 August 2007)

Guys, I have to add a couple of points, because it seems that my comments have been selectively quoted, or completely misunderstood, for whatever reason. Perhaps there are some other agendas at play here. 



MattThomson said:


> I was just poking fun of Kennas's $1.25 target tbh.
> 
> "The $1.25 target is sound, based on basic TA. A H&S pattern breakdown gives a target of the distance from the head to the neckline and vice versa...Pretty basic stuff to be honest." - Kennas, 07



It's fine to poke fun at it. I was making fun of it myself. If you didn't selectively quote me to support your own position, then you would have seen that I think it doubtful that it will eventuate.



kennas said:


> *I find it hard to see $2.25 support broken....*






kennas said:


> As I said, I find this hard to believe occurring, this is fundamentally a sound stock.






kennas]The $1.25 target is sound said:


> I agree with you broadside....and I'll put my money where my mouth is!!
> 
> Kennas,
> 
> ...



Capt, this is your technical analysis confirming $5.00 in 12 months? A bet?


I'd also like to add, looks like my assumed support at $2.25 has failed. Closed at $2.23.


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## DAZT49 (14 August 2007)

kennas was only interpreting the chart as he saw it..thats TA.
If you look at my post the $2.44 target WAS reached.
If I had posted on May 9th when the SP was $3.40 that the SP would drop to $2.44 I would have been similarly derided.
I am not big on H & S patterns and I probably would not trade on them but sometimes they are correct.The big problem with TA is that interpretation is in the eye of the beholder!!
However, if you dont believe that, after a few days -300pts on the DOW in the present circumstances, that BMN could go to $1.25, you shouldnt be trading.
Hey Kennas ...I defended you lol


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## DAZT49 (14 August 2007)

Cap'n,
I reckon the release of the scoping study and return of the journo's junket to the site will give us a big indication of where the SP will go, prior to the TSX listing. (Fairly obvious daz!!)
Do you know when they are due BACK to Aus??
Is there 2 trips?
Cant you get a ride too Capn??lol


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## aobed (14 August 2007)

captjohn said:


> I agree with you broadside....and I'll put my money where my mouth is!!
> 
> Kennas,
> 
> ...




I must say that I never thought BMN would be down at these levels, however we've had quite a number of things go against us.  I'm out for the time being, but looking for a re-entry when the market starts behaving and I have a buy signal.  BMN has great fundamentals I can see this stock going places, unfortunately I have had to sell out completely now to protect my capital as it is too close to my entry price.


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## nomore4s (14 August 2007)

I wasn't going to post my revised W2 target for BMN, but with poor old Kennas getting hammered for his H&S target: and with the SP breaking through support at $2.10-$2.20 today (also 50% retracement) I thought I would post my analysis.

I think $2.00 is going to be an important mark, while it has no real support on the chart it may provide a mental barrier. Some people may have marked it as a buying area and if it breaks under $2.00 you could get some holders offloading to either protect profit or cut losses.
ATM with the market and U sentiment poor I personally don't think $2.00 will hold but could be wrong. Also a break through the bottom of the trend channel will also be ugly imo.

With the market currently punishing nearly all the U stocks, that 61.8% retracement line is looking like a real possibility. I'm now looking for a 70% retracement which would take it back to support at $1.40 - $1.50.

Another worrying sign is the rallies are looking weaker and weaker, they are only lasting a couple of days and then retracing quicker and sharper each time, not good, no sign of any sort of demand.

Now I have a question on the fundimentals. Most of the FA I have seen on companies like this seem to be based on market cap & peer comparison, now with companies like PDN & ERA is strong downtrends, surely this has to have an effect on companies like this (ie a long way from production and therefore turning a profit) especially if they are valued on peer comparisons? The dropping U price doesn't help either. I'm sorry if this is wrong but I usually don't take too much notice of the fundimentals.


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## the barry (14 August 2007)

Am just praying that the scoping study will come in the next couple of days and the news is positive. The declining spot price of uranium really isn't helping either with the all round bearish market. There is also a large sale to go through next week at some point which will further pressure the spot price. Have to admit things do not look pretty at the moment, thought the rally the other day back to the mid 2.50's might have bought some interest back into the stock, is going to take something pretty special to put the shine back in this one. Am still holding to december for the jorc estimate. I believe this will be the catalyst to reversing the sentiment in bannermans which will still haunt the other U stocks. Like the tech boom, only the quality U stocks will survive, fingers crossed bannermans is one of those.


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## DAZT49 (15 August 2007)

I reckon that fundamentals/TA are on hold while the DOW is in such turmoil (-207pts overnight) and that could go on for several weeks.
I believe Peter Batten is handling the scoping study release, and is overseas atm, due back end of next week. I dont know if he gas to return for the release or can do it from wherever he is.
It would be good to be able to turn off the computer and go bush for a while lol


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## nomore4s (15 August 2007)

Ouch, BMN dropping like a stone today, currently $1.71

Kennas $1.25 is looking more & more likely.


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## nizar (15 August 2007)

nomore4s said:


> Ouch, BMN dropping like a stone today, currently $1.71
> 
> Kennas $1.25 is looking more & more likely.




Looks to me like time to load up the truck! 

The story is the same guys -- only it got a whole lot cheaper!


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## Mousie (15 August 2007)

Eh Nizar? I thought you never pick up (potential) dropping knives?

Welcome back anyway mate


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## Absolutely (15 August 2007)

Well I was back on this dropping knife prematurely yesterday at $2.18 so cursing my impatience. I had figured that below $2.20 it was a solid buy and was pleased when I got them for that. Now I am not so pleased.

Anybody here still riding this after picking up at the highs ? You must be feeling really pissed too?

Well was tempted to pull straight out today but I live in hope that some sense will prevail at some point and this one should provide a solid bounce. For some reason BMN has been prone to volatile swings in both directions, even when the market in general has been stable.

So holding and trying not to watch but it is difficult.


----------



## Sean K (15 August 2007)

Absolutely said:


> Well I was back on this dropping knife prematurely yesterday at $2.18 so cursing my impatience. I had figured that below $2.20 it was a solid buy and was pleased when I got them for that. Now I am not so pleased.
> 
> Anybody here still riding this after picking up at the highs ? You must be feeling really pissed too?
> 
> ...



Long term I still think this a good stock. Unless the anticipated tonnage isn't there. I don't think funding will be a problem for them with such a resource. I'm not sure if living in hope, or having faith is the right perspective though. Play it purely according to FA and/or TA and be open to change your mind on your initial decision if the circumstances change. I'm tempted to pick some more up here, looks like fear and panick has gripped the market. Not sure when it's going to stop though. Might still be able to pick it up 50 cents cheaper.  LOL


----------



## Rafa (15 August 2007)

Rafa said:


> i also think 1.80 ish is a solid support level...




still think 1.80 is key...
there was a lot of volume when BMN smashed thru 1.80, it then fell back but held firm at that level... 

tho, please, buy at your own peril...


----------



## jj0007 (15 August 2007)

What are you all worried about?  It is just filling the gap at $1.635 made on the 18 Dec 2006 like all stocks do


----------



## DAZT49 (15 August 2007)

mate, it cr*pped right thru that gap.
9 month low, biggish volume (for BMN).
Everything is getting smashed, lots of red


----------



## Sean K (15 August 2007)

DAZT49 said:


> mate, it cr*pped right thru that gap.
> 9 month low, biggish volume (for BMN).
> Everything is getting smashed, lots of red



Looking ordinary hey Daz.  Perhaps 1.25 is a chance? LOL 

I have seen this comment a few times: 'everything is getting smashed'.

It's something that punters on speccie stocks sometimes forget. That when the market goes down 2%, like today, that can mean their spec goes down 20%, like BMN today. 

So, I hope new investors have got the message the past week or so. Nothing goes verticle for ever, and when the market corrects, those that went the most verticle, usually pay. ouch


----------



## DAZT49 (15 August 2007)

kennas,
Lets hope it doesnt get to your H & S figure, that would be spooky...means that H & S patterns can foresee probs in US sub prime lol
I cant see any reason why it wont reach $1.25 or even lower in this market.
Wish I had some money!!!
My snapshot shows market movers by $ a short time ago..not just specs copping it.


----------



## Sean K (15 August 2007)

DAZT49 said:


> kennas,
> Lets hope it doesnt get to your H & S figure, that would be spooky...means that H & S patterns can foresee probs in US sub prime lol
> I cant see any reason why it wont reach $1.25 or even lower in this market.
> Wish I had some money!!!
> My snapshot shows market movers by $ a short time ago..not just specs copping it.



TA does work better in a 'trending' market from my experience, but others will argue that it can be applied to anything. I'm just not that good at it. Still _way _junior compared to others here. Hard to imagine $1.25, yes. Fundamentally, from what we understand, it should be priced higher. Maybe it will be eventually. Market usually under and overshoots...Or, maybe all the 'peer comparisons' are flawed because the 'peers' are overvalued....I don't think that aspect has been considered enough, even though it's been suggested many times.


----------



## Go Nuke (15 August 2007)

Absolutely said:


> Well I was back on this dropping knife prematurely yesterday at $2.18 so cursing my impatience. I had figured that below $2.20 it was a solid buy and was pleased when I got them for that. Now I am not so pleased.
> 
> Anybody here still riding this after picking up at the highs ? You must be feeling really pissed too?
> 
> ...




Yes...that would be me holding from buying at the top!
My inexperience is really shining through...or is that giveing me a shining right now!

If Im quiet here for awile...you know why. I might have hung myself (kidding)
:goodnight


----------



## nizar (15 August 2007)

Mousie -- I thought you wouldve sensed my sarcasm :



kennas said:


> Nothing goes verticle for ever, and when the market corrects, those that went the most verticle, usually pay. ouch




This was dropping long before this market correction.


----------



## Sean K (16 August 2007)

nizar said:


> This was dropping long before this market correction.



LOL.  You don't need to tell me that Niz. I've been smashed for saying it was downtrending for weeks.  However, my point is really in regard to the last few days, or the 'correction' so far. 10% off the XAO and how much here? 35%. So 3 x. Specs get punished more than most, as we know. This concept needs to be ingrained in some minds for next time. 

ERN has probably been the worst performer by my records. Since highs in late May it's off 78%, since correction started about 43%. Ouch. 

Must some bargains out there now right?


----------



## ta2693 (16 August 2007)

I agree with you about bargaining hunting time is coming.

I think if the credit worries spread out further, all banks are going to suffer.
although It is not very likely to happen.
If banks' share price give up, blood flood will coming. 
I am not going to increase my position until banks' share price drop substantially.
I am not going to increase my position until the news like "xxx fund management group has blown out" comes out. when fund are desperate to keep their heads out, they sell everything regardless of their value and could cause big price impact on market. most of their holding has long term value. just as a saying, market could be wrong longer than you can keep liquidate.


----------



## Sean K (16 August 2007)

Long term fundamental investors who don't want to know about charts need not read on. 

Just to stir the pot a bit, and have people freaking out a bit more, : here's a revision of the H&S pattern I saw in the 1 year daily, on a 3 year weekly. It seems to be a little more clearer on this chart, but I get a different target. If you subtract the distance from the neckline to the tip of the head it hits about $1.45. I was expecting a bounce today across the board after yesterday's panic rush for the door, but perhaps this is still a possibility? 

And before I get bombarded with downramper calls again, this is simply an interpretation of the chart. It's open for discussion. If anyone had bothered analysing the past one they might have got $1.45 as well.  

For the non believers in TA, I probably should explain the utility of these patterns. Firstly, when a stock breaks down from the neckline at the red arrow, this is a bearish sign and a signal to sell. If you can short a stock, this is a pretty good entry. Then when the stock gets to around about your target, you buy it back. If you're a long player, and an active investor (not buy and hold for ever) then you might take some money off the table on the breakdown, and buy back in a rebound from the target. If it gets there. Again, it's all probabilities and no certainties, so positions need to be actively managed.   

Anyone who's interested can read more here on H&S patterns and trading principles. Those who aren't, probably shouldn't have been reading.  Once again, this is not my price target, it's what the chart is saying, IMO.


----------



## DAZT49 (16 August 2007)

Kennas,
I am pressed for time so will take you up on this later,
But..if you move the time frame to monthly charts,the right side of the neck is barely discernable from the rest of the bars/candles,but extrapolating gives an SP of around 50c!!
I really think most indicators work best on the daily charts.So I reckon my posted chart was about right and then the DOW pushed everything over the side.IMO
Another -160 DOW, Cant see that the SP wont fall further today.
daz


----------



## DAZT49 (16 August 2007)

kennas,
Did you sell some at $1.40 just to prove TA correct lol.
Thats quite a sell off 780,000 in 12 mins, panic has certainly kicked in.
Have to admit I have itchy feet too.


----------



## Sean K (16 August 2007)

DAZT49 said:


> kennas,
> Did you sell some at $1.40 just to prove TA correct lol.
> Thats quite a sell off 780,000 in 12 mins, panic has certainly kicked in.
> Have to admit I have itchy feet too.



Daz, this is coming into bargain hunting season on good stocks. The sell off at this point is emotional. Nothing goes directly up, or down, so look for sharp recovery's to sell into, if you're trading. There are going to be some fantastic long term opportunities here for those that have played the game well. Good luck!


----------



## DAZT49 (16 August 2007)

agree, many bargains with a lot of rofit to be made if you are cashed up.
Unfortunately I am TIED up.


----------



## the barry (16 August 2007)

kennas said:


> Daz, this is coming into bargain hunting season on good stocks. The sell off at this point is emotional. Nothing goes directly up, or down, so look for sharp recovery's to sell into, if you're trading. There are going to be some fantastic long term opportunities here for those that have played the game well. Good luck!




I still think this has a long way to go, panic has well and truely set in. Another bad night on wall street and the bottom really is going to drop out of the market. There is a long long long way to go before this turns round. Good luck to all. Stay away from sharp objects, i repeat stay away from sharp objects.


----------



## DAZT49 (16 August 2007)

do you count a bar stool and a line of pots of VB as sharp objects?
If so I am gunna be in dire trouble come 5pm


----------



## DAZT49 (16 August 2007)

Sorry kennas,
I know all that is drivel.
However, that monthly H & S indication of 50c is starting to worry me!!


----------



## Sean K (16 August 2007)

DAZT49 said:


> Sorry kennas,
> I know all that is drivel.
> However, that monthly H & S indication of 50c is starting to worry me!!



Daz, I disagree, I think the H&S is where I put it. But this is TA of course!!! LOL.

Market has gone irrational for the minute and there will be a bounce of some sorts eventually. This is not a common situation, and my gut is telling me to make the most of the situation. I haven't seen such a sharp correction (is it a crash) before.


----------



## UraniumLover (16 August 2007)

kennas said:


> Daz, I disagree, I think the H&S is where I put it. But this is TA of course!!! LOL.
> 
> Market has gone irrational for the minute and there will be a bounce of some sorts eventually. This is not a common situation, and my gut is telling me to make the most of the situation. I haven't seen such a sharp correction (is it a crash) before.




If we see another 150-250 dow drop tomorrow you can throw that technical analysis out of the door.. 1.45 will get smashed with another dow correction tomorrow. Asian market currently down, dow futures down 121 points
I've been shorting this one, in fact all uranium stocks, since the correction.

Riding it long at first and than short on the way down.
I would advise shorting or getting out of the uranium sector for the mean time..
U stocks have been out of favour for a while now, all show a similar pattern .. down
Fundamentals are no barrier in these times.


----------



## kivvygosh (16 August 2007)

> I've been shorting this one, in fact all uranium stocks, since the correction.



Where can you short BMN?  Or other uranium stocks, for that matter?

My broker only allows me to short a limited number of stocks.


----------



## phyro (16 August 2007)

Article found in Financial Review today.....                      .                 .







using a comp at work cant resize so heres the pdf... 

http://users.tpg.com.au/phyro/160240.pdf


----------



## UraniumLover (16 August 2007)

kivvygosh said:


> Where can you short BMN?  Or other uranium stocks, for that matter?
> 
> My broker only allows me to short a limited number of stocks.




CFD though cityindex.   20 % margin as well.
DYL is excellent only 10 % margin required                                                         
   .


----------



## eMark (16 August 2007)

phyro said:


> Article found in Financial Review today.....                      .                 .
> 
> 
> 
> ...




Thanks for that. Good article. Wouldn't it be great if Uranium & related stocks came out a winner after all this carnage.


----------



## DAZT49 (20 August 2007)

Nice to see the old girl hang on to most of the gains today.
XJO up 250+ sure helped.
The large gap opening was a worry, there could be a retraction tomorrow, but hopefully,as the SP closed near the high of the day, that may not be the case.
Hope the yankees hold together tonight, the action by the Fed reserve (USA)
in lowering their rates on Friday was what triggered the upswing.
Volatilty is the worry, but if the lows keep finishing higher,that will be a good sign.
Scoping study late in the week??????????


----------



## Sean K (21 August 2007)

I don't normally do this, but just to make a point, sometimes TA actually does tell you something. 

13 Aug, BMN about $2.30.


kennas said:


> ...looking at the chart, I see a very large H&S, which gives a downward target of $1.25! This is a pretty broad pluck, so, give or take a few cents here or there. I find it hard to see $2.25 support broken....
> 
> Fundamentally, long term, I see them shoring up 125m lbs ++, and/or being taken over for quite a premium, which has been discussed through the thread, but this does not equate with this short term TA assessment at all.
> 
> ...







Broadside said:


> $1.25? lol good luck with that, maybe if they do another split!  ....frankly I don't think you will ever see $1.25.  Maybe as a dividend in about ten years.  I am not much of a TA but looking at the long term chart I see $5 in about 12 months' time.






captjohn said:


> C'mon kennas, How can you call that a large "head &shoulders"??....






DAZT49 said:


> Kennas,
> Think you have stretched the H & S,






Go Nuke said:


> God Kennas, please dont scare me with figures like $1.25! lol






MattThomson said:


> Ah dear, kennas, when will you learn? TA is worthless most of the time . You say $1.25? By when, and if so, why aren't you shorting instead of holding?





And of course, the only reason it got there was because the market corrected. Hang on, perhaps that was in the XAO chart as well! Check that thread in the days leading up to the correction and the same types of things were being said. I actually didn't think it would get there. I was wrong.


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## DAZT49 (21 August 2007)

kennas,
Are you looking for a pat on the head, slap on the back, kudos,praise lol
I bet you ae skipping around going ..nyah nyah,nya, nyah nyah!!!:
well done mate.
TA can bring up stuff like that cant it?
Here is another teaser, I posted a similar chart on 30 MAy (No1890)
Increasing SP(higher lows).decreasing volume against a constant resistance level =rise to level equal to the height of the triangle. therefore..
$1.7 (resistance) + 40c (height of triangle) = $2.10
Lets see how it goes.
P.S. yankees held their nerve overnight


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## Sean K (21 August 2007)

DAZT49 said:


> kennas,
> Are you looking for a pat on the head, slap on the back, kudos,praise lol
> I bet you ae skipping around going ..nyah nyah,nya, nyah nyah!!!:
> well done mate.
> ...



 LOL. I'm disappointed I wasn't confident enough to short it, although I can't through my provider anyway. 

I see your triangle. Just. But it might be a bit junior for any reliability. We'll see.

No upside calls from me yet. Needs to start making some higher lows and highs. When it starts to, I see $2.25 as significant resistance on the way up. 

Still threats to the downside unless last Thursday was a capitulation day, which I thought could have been, but who knows. I'm not sure if the fear and worst case scenarios from sub prime is completely factored in yet. Doubt it.

Great opportunity for picking up some high potential companies at more value around the place at the moment IMO. I'm not subscribing to the uber bears depression theory, just yet.


----------



## DAZT49 (21 August 2007)

Agree that the triangle is a bit early, but they do happen quickly..usually.
I would never be game enough to trade on them, but they are interesting.


----------



## Logique (21 August 2007)

I would agree that the stock has been heavily de-risked at these prices, which is something for any buyers now to hang their hats on. 

I exited pretty much along the TA lines that Kennas described, and mightily relieved to have done so, thanks Kennas. On the subject of re-entry I'm sticking with safety first, it looks like it could be coming soon, not quite yet. Let's see the price up through 200ma, then she might run fairly hard.


----------



## captjohn (22 August 2007)

Hi kennas, 

 I see that your share price 'prediction' was spot on! as you have pointed out  in your post !


A culmination of events for world markets causing the severe correction..that turned your  so called head & shoulders into a reality!! 

The wind has been knocked outa bmn's sails for now but I'll still maintain my 'prediction ' that sp will be  $5 by next august! 

 Fundamentals will prevail !

This time around all the other U dreamers  will fall off the bandwagon & the companies with resources in the ground will get recognised & move upwards.

Thats what I like to believe in between time to justify why I have accumulated  the stock  along the way!!

However I did sell off 20% when I returned from O'seas....@  $3-ish &  ..bought back at $2.50 & then $2.24  which I thought was the bottom....Oh well not always right but never wrong  !!hahaha...


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## captjohn (22 August 2007)

Scoping study in 7 days !!

I'm a fat prophets member & just read they're off   friday for media tour of 5 aussie research analysts to tour bmn's projects & also rossings & extract ...

rossing has dropped cut off rate now to 100 ppm......so bmn is following suit!
which will make it more valuable.


I reckon they'll get the scoping study on the plane  & back early next week to announce their findings, & write articles for all the mags !



I'm not expecting any great rise in sp  .... considering negative uranium market ;

but still confident bmn will outperform later on towards xmas   as the investors realise a top mine will be built one day...


----------



## Sean K (24 August 2007)

Sellers seemed to have dried up for BMN. The last 2 days have been quite unusual. Might have found the bottom way down at $1.30 ish that people were looking for. Might have been a good opportunity to pick this up during this correction - possible crash, but technically, I wouldn't be confident in it resuming it's upward trend until it's around the green circle, and over the 200d ma. That's not to say, that for fundamental investors, recent action may have been a great chance to top up, or sell and rebuy to save some capital gains. If you were really confident in this, then it could have been a great opportunity.


----------



## DAZT49 (27 August 2007)

hey kennas,
My $2.10 came out after all (post 2236)
Scoping study this week with a bit of luck. When do the journos on the junket get back?
daz


----------



## shag (27 August 2007)

kennas said:


> Sellers seemed to have dried up for BMN. The last 2 days have been quite unusual. Might have found the bottom way down at $1.30 ish that people were looking for. Might have been a good opportunity to pick this up during this correction - possible crash, but technically, I wouldn't be confident in it resuming it's upward trend until it's around the green circle, and over the 200d ma. That's not to say, that for fundamental investors, recent action may have been a great chance to top up, or sell and rebuy to save some capital gains. If you were really confident in this, then it could have been a great opportunity.




hi Kennas
any go on whats pushed the price up today?
i wanted to get in friday on a bit of intuition and talk, but didn't have the cash.
cheers Shag
ps i'll be shagged if it does a loss of 20% or more.

oh yeah, i was a bit worried about the rise on low volume. well it seems low volume, must check history.


----------



## DAZT49 (27 August 2007)

shags,
historically BMN trades 300k ..400k/day average, so it does fluctuate a lot on those low volumes, which is bloody annoying, and not good for the blood pressure.lol


----------



## shag (27 August 2007)

DAZT49 said:


> shags,
> historically BMN trades 300k ..400k/day average, so it does fluctuate a lot on those low volumes, which is bloody annoying, and not good for the blood pressure.lol



thanks, i'm new to this stock realatively so know little.
it seems imo someones constantly picking them up at the 2.08 mark to me. but i'm wrong way to often.

can't be just on the news that some overweight idiots from fat profits are over there on a juncket. they rn't that big anyway companywise and reliabillity r they, just large sign up fees and no email replies once signed up.

they should get a speeding ticket from the asx i say.
i hope the buyers r in the know anyway.
cheers shag.


----------



## drmb (27 August 2007)

shag said:


> thanks, i'm new to this stock realatively so know little.
> it seems imo someones constantly picking them up at the 2.08 mark to me. but i'm wrong way to often.
> 
> can't be just on the news that some overweight idiots from fat profits are over there on a juncket. they rn't that big anyway companywise and reliabillity r they, just large sign up fees and no email replies once signed up.
> ...




Not sure why they should get a speeding ticket - they have been as high as 3.80 in the past 4 months. Like any spec stock it is volatile, treat it accordingly!

Course of trades today
Buy 4.1T 208 Last 210   20.5  10.8% 2:16 pm  High 212 Open 203 
Volume 266,589 210 Sell 2.4T Low 203 Prev. Close 189.5 Turnover $553,951 

(Trade Number (s), Time Last Traded, Price, Volume, Change Value, Number of Trades)

119 2:10:00 pm 208 100 1 $208 1 
118 2:10:00 pm 209 5,000 1 $10,450 1 
114 - 117 1:55:39 pm 208 6,012 2 $12,505 4 
112 - 113 1:46:33 pm 210 455 1 $956 2 
105 - 111 1:46:33 pm 209 12,595 1 $26,324 7 
103 - 104 1:22:21 pm 210 7,621 1 $16,004 2 
100 - 102 1:20:15 pm 209 2,079 1 $4,345 3 
99 12:54:26 pm 208 100 2 $208 1 
96 - 98 12:39:44 pm 210 2,321 2 $4,874 3 
92 - 95 12:32:25 pm 208 5,450 1 $11,336 4 
91 12:14:25 pm 207 3,500 1 $7,245 1 
89 - 90 12:13:35 pm 208 4,000 1 $8,320 2 
86 - 88 12:12:53 pm 207 3,000 1 $6,210 3 
85 11:58:32 am 208 1,900 1 $3,952 1 
83 - 84 11:55:26 am 207 1,900 1 $3,933 2 
78 - 82 11:52:44 am 206 13,300 1 $27,398 5 
77 11:51:00 am 207 100 1 $207 1 
72 - 76 11:49:04 am 208 43,550 1 $90,584 5 
70 - 71 11:47:22 am 209 700 1 $1,463 2 
68 - 69 11:37:18 am 210 2,500 2 $5,250 2 
62 - 67 11:30:55 am 212 12,200 1 $25,864 6 
61 11:27:56 am 211 800 1 $1,688 1 
50 - 60 11:23:14 am 210 21,793 1 $45,765 11 
48 - 49 11:00:56 am 209 2,000 1 $4,180 2 
43 - 47 10:58:21 am 210 3,207 2 $6,735 5 
42 10:44:00 am 208 1,000 2 $2,080 1 
41 10:39:48 am 210 4,000 2 $8,400 1 
36 - 40 10:33:00 am 212 5,607 2 $11,887 5 
32 - 35 10:30:20 am 210 9,264 1 $19,454 4 
30 - 31 10:28:57 am 209 6,629 3 $13,855 2 
29 10:15:12 am 206 1,330 1 $2,740 1 
25 - 28 10:12:31 am 205 7,073 1 $14,500 4 
24 10:08:09 am 206 1,497 1 $3,084 1 
19 - 23 10:07:52 am 205 12,800 5 $26,240 5 
14 - 18 10:04:36 am 210 9,550 2 $20,055 5 
12 - 13 10:03:13 am 208 3,450 2 $7,176 2 
10 - 11 10:02:33 am 206 7,500 3 $15,450 2 
1 - 9 10:01:39 am 203 35,003   $71,056 9


----------



## shag (27 August 2007)

thanks for that, i can't find actual trades on commsec account.
i'm just a bit sus, up 13%, in tight range, on no news i can find.
fat profits certainly liked them back earlier in the yr. 
seems potential african mine is in a very handy spot by rio and pdn.
i see mtn has shot up too tho now.
up  16% now.

odd both running away, era and pdn doing nothing.


----------



## Broadside (27 August 2007)

shag said:


> thanks for that, i can't find actual trades on commsec account.
> i'm just a bit sus, up 13%, in tight range, on no news i can find.
> fat profits certainly liked them back earlier in the yr.
> seems potential african mine is in a very handy spot by rio and pdn.
> ...




They were oversold along with most of the Uranium sector, now we will see dollars flow back into quality Uranium stocks and hopefully avoid the rubbish and not see the bubbles we saw before.  PDN and ERA were not sold down to the extent of AGS MTN and BMN.

btw Kennas, you were almost right about your technical target, admittedly it took a market correction to help it along but credit where it's due.


----------



## Sean K (28 August 2007)

Seems to have recovered well, with the rest of the market. I'm still concerned with sub prime fall out having further repercussions with the general market though, so I'm not getting too bullish yet. General market needs to get through 6200 to be generally going up again, and BMN needs to crack these red lines....If neither does, then be alert.   LONG TERM I stick with my story this is a good stock, as would most others posting here.


----------



## shag (28 August 2007)

kennas said:


> Seems to have recovered well, with the rest of the market. I'm still concerned with sub prime fall out having further repercussions with the general market though, so I'm not getting too bullish yet. General market needs to get through 6200 to be generally going up again, and BMN needs to crack these red lines....If neither does, then be alert.   LONG TERM I stick with my story this is a good stock, as would most others posting here.




yes its another good day. i am worried sub prime mess too, i was supprised that the market didn't get impacted by that article in fortune rag on friday re the banks uprecedented interlending extensions etc.
i wish i could buy more of these.


----------



## doctorj (28 August 2007)

kennas said:


> LONG TERM I stick with my story this is a good stock, as would most others posting here.



BMN may go up in the near term, but I have to disagree with you here kennas.

My concern is the grade and depth of the deposit and that there's a chance the size isn't large enough to offset it.   The capex is likely to be huge (much larger on a per pound U mined basis than Langer Heinrich which is about 3 times the grade and MUCH shallower) and likely to be a challenge to fund.  Equity will mean a swag of dillution and debt will add to the already high costs per lb to mine.

Has anyone modelled what is the minimum uranium price this deposit is economic at?


----------



## the barry (28 August 2007)

To true Capt,
                   I havn't posted in a while because I don't really think theres the need to say anything untill the end of the year when they release/confirm the size of the resource. Then they can develop that and start to explore the rest of their tenements.

I know what I want for christmas, Some more BMN shares thanks Santa


----------



## captjohn (28 August 2007)

the barry said:


> To true Capt,
> I havn't posted in a while because I don't really think theres the need to say anything untill the end of the year when they release/confirm the size of the resource. Then they can develop that and start to explore the rest of their tenements.
> 
> I know what I want for christmas, Some more BMN shares thanks Santa




Thanx barry for your support,

For months I've analyzed what other   ozzie U companies reckon they might have ......& I can't find any that can get into production ....some might have "higher grades"  but a thousand miles from water &  power so how on earth can they ever get 'yellowcake' into the drums & sold !!!.

This correction will get rid of all those wannabes off the bandwagon!

You're right barry , bannerman will  confirm (with drilling ) their 'monster' resource & rise to the surface  by years end !!....

I'm excited to be a part of it for years to come

take care , captjohn


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## doctorj (29 August 2007)

Using $90/lb and an average grade of 0.025%, BMN will get about US$49.60 for every ton of ore they mine. Take into consideration the losses through the chemical process and the mill, assuming a 90% recovery (Ranger gets 85.5%, Olympic Dam gets 97% and Langer Heinrich was modelled on 90%) gives US$44.64.

Out of that US$45 will need to come capex, opex, admin, overheads, royalties, taxes etc.

Lets ignore Capex for the moment as that will essentially be apportioned to each ton mined and just look at Opex. With the ore body going down to 280m, I doubt they're going to try for open cut. Dr Rudenno gives AU$50/t as an estimate for an underground base metal mine @ 1mtpa (this will be conservative as uranium has other special considerations). Lets assume they'll mine 1.5mtpa (same as langer heinrich), this gives $50*(1/1.5)^0.6=AU$40/ton=US$32.95. 

All this leaves about $12 per ton for that capex, admin, overheads, royalties, taxes etc. 

How much is capex likely to be? Well, from memory, Langer Heinrich was about US$90mill back in 2005 prices. BMN has to process 3 times as much ore to get to the uranium, so that's likely to be a base case, plus BMN won't get there until 2009, which brings inflation into play as well. So perhaps $5-10 capex per ton is reasonable. This leaves only $2-$7 per ton for everything else (and perhaps the shareholders).

This is why BMN are drilling for more and looking 280m down for there ore that is returning grades lower than PDN's cut off grade back in 2005.

I'll prepare for the onslaught now.


----------



## Sean K (29 August 2007)

doctorj said:


> BMN may go up in the near term, but I have to disagree with you here kennas.



Thanks for those numbers doctorj. Puts things in perspective. I've just been concentrating on the eventual size of the deposit which is assumed to be at least 4 x the intial JORC. I've been a bit taken by the potential of a 100m+ lb deposit, and forgotten a bit about the minutia. (Hartleys say potential for 160m lbs + see screen shot below and the doc here) 

I suppose the question is how close to surface the ore is across the deposit, and at what depths it's intersected. It's true that grades seem to improve at depth around 300m, which either means a massive open pit, or an open and underground operation. The initial JORC was just on the top 80m, so you'd have to assume open pit to at least that depth. (see top slide below to see intersections and the outline of initial JORC) The deposit is actually still open in all directions and they're targetting a depth of 350m. The alaskites are stacked at various levels all the way down. They've also intersecting thicker zones at depth (See bottom slide below). Perhaps it warrants open pit all the way down? This info will come out in the scoping study due very shortly, I'd imagine. 

I'm pretty confident (with my outstanding knowledge of geology and uranium mining operations  LOL - I learnt a lot about this in the Army) that based on this data it will be a mine, but how profitable is the question I suppose. That's why it's very difficult, near impossible, to put a value on it, IMO, except for some type of peer comparisons which are somewhat flawed anyway. There's just too many assumptions all up to put any $$ figures on it I reckon. Makes me wonder why I'm so confident on it being a 'long term' good play sometimes.


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## doctorj (29 August 2007)

The extra drilling to get a resource down to 300m will help considerably with the capex (Which will be much higher on a gross basis, but lower per ton) but opex will likely increase. Perhaps increasing to 3-4mtpa is the way to go to get the opex down?

Grade is king, even in open pit. This is all to say it's not possible, just that it'll be much harder to get over the line, than say Langer Heinrich.


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## Sean K (29 August 2007)

doctorj said:


> Grade is king, even in open pit.  This is all to say it's not possible, just that it'll be much harder to get over the line, than say Langer Heinrich.



I totally agree, and it troubles me with these Namibian potentials. I can't understand how the 100-200 graders got off the ground really. (The going ppm in Aus was 700++ not long ago!) They must have had something else going for them, or perhaps it's just very very cheap to establish and operate a mine in Namibia? However! Now with long term U at somewhere between $30-90, instead of $10-15, these explorers are in the ball park. The only real major catastrophe could be cold fusion.  For U that is!!!


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## champ2003 (29 August 2007)

doctorj said:


> Using $90/lb and an average grade of 0.025%, BMN will get about US$49.60 for every ton of ore they mine. Take into consideration the losses through the chemical process and the mill, assuming a 90% recovery (Ranger gets 85.5%, Olympic Dam gets 97% and Langer Heinrich was modelled on 90%) gives US$44.64.
> 
> Out of that US$45 will need to come capex, opex, admin, overheads, royalties, taxes etc.
> 
> ...




*This leaves only $2-$7 per ton for everything else (and perhaps the shareholders).*

This comment doesn't make any sense to me. Are you implying that only 2-7 dollars would be the profit per ton as that would only work out to be 6 mill profit for a 1.5mtpa production if you work out $4 per ton profit. That obviously isn't right. I think instead of mulling over hypotheticals lets all simply wait a few days for the scoping study because its going to be very different to anyones guess IMO.

Cheers!

Champ2003


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## champ2003 (29 August 2007)

doctorj said:


> Using $90/lb and an average grade of 0.025%, BMN will get about US$49.60 for every ton of ore they mine. Take into consideration the losses through the chemical process and the mill, assuming a 90% recovery (Ranger gets 85.5%, Olympic Dam gets 97% and Langer Heinrich was modelled on 90%) gives US$44.64.
> 
> Out of that US$45 will need to come capex, opex, admin, overheads, royalties, taxes etc.
> 
> ...




And i might add that BMN won't be in prod until late 2010 not 2009 mate so It might be an idea to get stuck in to your research a little more thoroghly.


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## doctorj (29 August 2007)

champ2003 said:


> That obviously isn't right.



That's obviously why they've not moved to a BFS yet and are instead hoping to extend the resource.

But thanks for telling me I'm wrong because I read the wrong year off some chart, you've contributed heaps.


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## captjohn (29 August 2007)

champ2003 said:


> And i might add that BMN won't be in prod until late 2010 not 2009 mate so It might be an idea to get stuck in to your research a little more thoroghly.




Good onya champ,

I just got the latest fat prophets report by gavin wendt & he confirms we're on track with a "world class resource"  etc etc ...

these are professional people so all due respect to doctor j  bombarding us with pages of figures  with 1oo's of variables ....stop looking a gift horse in the mouth!!...

If kennas would like a copy  of FP report  ...let me know.... so that he can at least evaluate the content in a sensible way !!


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## the barry (29 August 2007)

captjohn said:


> Good onya champ,
> 
> I just got the latest fat prophets report by gavin wendt & he confirms we're on track with a "world class resource"  etc etc ...
> 
> ...




Hey Capt,
              Any word in the report on the site visit? PLease could you forward a copy of the report to hubbarda9@hotmail.com, I love to read anything i can get my hands on. thanks

cheers,
          thebarry


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## captjohn (29 August 2007)

the barry said:


> Hey Capt,
> Any word in the report on the site visit? PLease could you forward a copy of the report to hubbarda9@hotmail.com, I love to read anything i can get my hands on. thanks
> 
> cheers,
> thebarry




The whole aticle is about the site visit!!...they reckon  'no probs' with anything over there!!...water & power all happening ....bmn  pit area has lotsa area & still stating 125 plus millbs by years end!!.... @ 80 ppm cut -off!! so gotta be a big earner  down the track!  

its compared with Uramin  that Areva just bought for $1.5 bill ....low cost open pit  with low cost labour & over heads etc etc ....anyway read the report & post back your opinions ???


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## captjohn (29 August 2007)

captjohn said:


> The whole aticle is about the site visit!!...they reckon  'no probs' with anything over there!!...water & power all happening ....bmn  pit area has lotsa area & still stating 125 plus millbs by years end!!.... @ 80 ppm cut -off!! so gotta be a big earner  down the track!
> 
> its compared with Uramin  that Areva just bought for $1.5 bill ....low cost open pit  with low cost labour & over heads etc etc ....anyway read the report & post back your opinions ???




correction  a 100ppm cut -off  for bmn  .......Uramin is 80  ppm. cut-off!!

Fat prophets  compares the two over there!!....looks like all positive vibes & facts & figures  for bannerman  ...next is the scop[ing study with all the 'engineers'  calculations that you can all disect !!....

& doctor j will still have reservations....oh well when the yellowcake is being sold  we might get a few approvals!!


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## doctorj (29 August 2007)

captjohn said:


> & doctor j will still have reservations....oh well when the yellowcake is being sold we might get a few approvals!!



It's all well and good to have a stack of valuable stuff in the ground, but it has to be economically extractable to be worth anything.

@ $90/lb and about 250ppm on average, the amount they're getting for every ton of ore won't change.  The killer is in the opex and capex. I'm a buyer where there's value (just like anyone else), so I wanted to see if there was value.

Kennas and I have had many a chat privately about BMN, but many on the technicals.  I was hoping to have a look at the fundamentals.  Had they come out positive, I'd have said so.  At the moment, they don't so I'm not a buyer.  As more info comes out about the project, that may change.

So don't have a go at me for negative analysis.  As we all saw with Kennas' call, sometimes it does pay to listen to the other side.


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## Noskcid (29 August 2007)

hey captjohn,

could I please get a copy of the report also to dchan9@gmail.com

thanks in advance


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## Sean K (30 August 2007)

champ2003 said:


> *This leaves only $2-$7 per ton for everything else (and perhaps the shareholders).*
> 
> This comment doesn't make any sense to me. Are you implying that only 2-7 dollars would be the profit per ton as that would only work out to be 6 mill profit for a 1.5mtpa production if you work out $4 per ton profit. That obviously isn't right. I think instead of mulling over hypotheticals lets all simply wait a few days for the scoping study because its going to be very different to anyones guess IMO.
> 
> ...



Champ, doctorj's analysis is actually the most detailed I have seen on BMN in this thread. To date it's all been about tonnage, grades and total contained U. Pretty basic stuff really. Having a dig because of a misinformation about a production date, is just petty. 

No one has analysed BMN to this level, and I am very happy to see it. At one point we tried to analyse capex to production, but we failed to get any real quality answers with most paying this off as a negligible consideration. It is not. The issue of water and power was handled OK, and looks to be sorted. Peer comparisons will always be flawed when comparing companies known lb for lb and not considering any other factors.   

The fact that doctorj has come to $2-7 profit per tonne doesn't have 'to make sense' when you haven't done any analysis yourself to this level. This could quite possibly be the case, and it's important that those considering investing in such a company can see past the tonnage, which there certainly is!  However, as doctorj says, this is pointless if it's not economical to get out of the ground. 

I certainly don't agree that we shouldn't attempt to analyse these things before committing our hard earned. Some people have put a considerable proportion of their funds in this stock, (some down quite a bit on paper I believe), and you should never do such a thing unless you have attempted to analyse a company in as much detail as possible, IMO. (or just trade off the chart). If we all just waited for scoping studies and BFS's then we'd never get into an investment at a 'cheap' price. 

So, let's keep the 'analysis' coming, and discuss in detail with an objective mind. Cheers.


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## tasmanian (30 August 2007)

Good point Kennas,

Ive noticed that with bannerman.If you are negative about this stock you get cut gown pretty quick.like u said doctorj,s analysis was the most informed ive seen and he gets $hit for having a negative view.

A picture tells a thousand words and bannerman,s chart does look a little sick atm.Its following the dow quite abit and if that gets weaker i see the same with bmn.Seriously its still a few years from production and anything can happen in that time.It really is still a spec buy imo.They are still drilling holes so building a mine is still alot of work away.

Ive got nothing against it I dont hold but it seems to me people that do are a little in love with it and dont want to admit its a downtrending stock atm and hasnt made a real new high since april.Theres nothing to say it wont keep slowly downtrending for the next few months to test recent lows which looks more likely to me than making $4.50-$5 predictions pople are talking about.

Always pays to look at both sides of the story.No doubt ill cop it for saying this but atm bmn is abit of a  dog atm fundamentals or not and it needs too do alot of work to start looking like a buy again.

Seriously though good luck to the holders but if I was a betting man I,d definetely say $1.50 again before $3.50 plenty of time  to think about getting back into this one at a lower price imo.

good luck all true believers may well be paid off handsomely in the future but who knows it could be 6-12mths before it starts to be the flavour of the month again.

cheers


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## doctorj (30 August 2007)

People are very 'emotionally' invested in this stock. Many are sitting on very large unrealised losses. They're at the point now where they're holding this stock hoping to provw themselves right, hoping to escape with some dignity (and some of their cash).

I'll be the first to admit, my analysis was back-of-napkin type stuff. As kennas pointed out, they may do a combination of open cut and open pit. They may prove up higher grades. Who knows. What won't change is getting $50 per ton of dirt (unless the U price goes up or they find better grades). The question is how they spend that $50? Like kennas also said, its done with the hope of picking a bargain over looked by the market.

Kennas got shot down for calling for a retrace to $1.25 when it was $2.30. It reached as low as $1.30. Infact, they're still having a go at him. Chris1983 made this remark over @ another forum today:







> Its okay when they want to call you out as a ramper..but they are downramping by giving 1 dollar price targets and other moderators on other forums..well known forums..giving 1.25 price targets. Give me a break. A 1.25 and $1 price target when putting it against the fundamentals is a joke of a price no matter what it say's on the charts



Sorry, Chris, it actually pretty much did reach that mark.

But don't question the fundamentals either - because they'll have a go at you for that too.

This thread has a long history of people attacking any analysis that throws a negative light and I expect it to continue. Who wants to be profitable and who wants to be right? It seems like a lot of posters on this thread have made up their mind.


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## drmb (30 August 2007)

doctorj said:


> It seems like a lot of posters on this thread have made up their mind.




As previously disclosed on this tread, I have been holding and accumulating since 1.00

Interesting debate between conservative and optimistic views, and I would belong to the latter. When BMN was hardly known I saw potential on the basis of the real estate mantra, position, position, position! 

When I became interested in U, the spot was about 30/lb but rising rapidly. I selected 7 U stocks to buy, PDN, AGS, DYL, SMM, AGS, UXA and BMN. SMM proved itself by being taken out by PDN giving me a 10x, I got out of DYL with a profit as I thought I had enough exposure to it through PDN, I got out of AGS with a profit when it became obvious that Australian conditions would put a mox on any new mines, and UXA was my dud so got out of that with a loss. I now only hold BMN and PDN and will hold long.

I would like to ask Dr J, and K how to reconcile the conservative view with 3 different prof analysts (FP, H, and C) views of BMN as a speculative buy? FP latest report on the visit to BMN holdings (and surrounds) in Namibia is encouraging and I quote "... what this adds up to is a truly world-class uranium deposit", which summarises not only Anomaly A, but also its extension and BMN's other holdings. I continue to hold long, at least 2-5 years which imho is what will be needed to prove up this resource. But do your own research etc! Remeber Risk/Reward? By the time everything has been proved up the sp will have also moved!


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## Moneybags (30 August 2007)

kennas said:


> No one has analysed BMN to this level, and I am very happy to see it.




Agree Kennas, this is very detailed analysis and I'm happy to take this on board before I invest further in BMN. I'm waiting for this Scoping study for further info and then we can all debate BMNs' potential a little more accurately.

Cheers

MB


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## toc_bat (30 August 2007)

Hi all

I am considering getting BMN for the first time now, or soonish. Since the scoping study is due out shortly and Fat Prophets are over there checking it out, one would think that they would be privy to how the study is looking, at least be given some hints or at least be aware of the general mood. Since FP and others have been so positive about BMN I think its unlikely that the study will have such dire conclusions that the sp will depreciate significantly, surely the FP uys have their reputations and jobs to think of, would they be giving it such a thumbs up if BMN is about to release a poor study?

bye

all


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## the barry (30 August 2007)

Forgetting the fundamentals and the technical analysis, I will base my decision to hold solely on two decisions 
1. the scoping study
2. final jorc estimate come december

I personally do not know enough about the costings of namibia to be able to work out the cash flows or work out what the capex will be to get the project online. I do, however believe that as time goes by the spot price of uranium will start increasing again as more and more countries eventually head towards nuculear power. With the problems associated with the cameco mine which was supposed to supply 8 percent of the worlds uranium per year and the follow on effects of the ranger mine flooding will ensure this tight demand. I like to buy mining companies at an early stage and follow them through to development, whilst it is a punt i think that bannermans will end up with one of the top 5 deposits in the world. I have been on this stock for a long tine and will do so till the above to factors are determined.


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## drmb (30 August 2007)

toc_bat said:


> I am considering getting BMN for the first time now, or soonish. Since the scoping study is due out shortly and Fat Prophets are over there checking it out, one would think that they would be privy to how the study is looking, at least be given some hints or at least be aware of the general mood.




The researchers' visit to Namibia is over, they have returned, and FP report is published. You'll have to be a FP subscriber to get the visit report or be nice to some one who is, to get a copy. 

The latest FP report is very positive and includes statements such as ""... what this adds up to is a truly world-class uranium deposit".

Can I suggest that you start research by checking the BMN website and eg looking at the previous broker reports on the site http://www.bannermanresources.com.au/news_brokers.asp ?

Hartleys Report - Goanikontes to Grow (26-07-2007)
DJ Carmichael - Goanikontes gets bigger (29-06-2007)
DJ Carmichael - Interim resource of 27M pounds (01-05-2007)
Hartleys Report - Go Go Goanikontes (04-05-2007)
DJ Carmichael - Goanikontes: Drill Results Reset Valuation (23-02-2007)
Tolhurst Report - Uranium Sector (28-11-2006)
Hartleys Report - World Class Potential in Namibia (17-11-2006)
Carmichael Research Report - Bannerman Resources Limited (26-09-2006)
Carmichael Research Report - Bannerman Resources Limited (04-07-2006)

Remember it is a speculative buy! I hold on the view "no risk, no reward; no risk, no thrill", but I also have a very diversified portfolio!


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## spooly74 (30 August 2007)

Moneybags said:


> Agree Kennas, this is very detailed analysis and I'm happy to take this on board before I invest further in BMN. I'm waiting for this Scoping study for further info and then we can all debate BMNs' potential a little more accurately.
> 
> Cheers
> 
> MB




Just wondering what everyone is expecting from the scoping study?

A resource upgrade is not due till the end of year (correct me if wrong) so I`d expect a brief summary from the company (maybe similar to MTN).... favour open pit ....target 150mill + ... address water issues ...etc etc.
Any thoughts?


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## Sean K (30 August 2007)

drmb said:


> I would like to ask Dr J, and K how to reconcile the conservative view with 3 different prof analysts (FP, H, and C) views of BMN as a speculative buy?



drmb, as we know different analysts will have different opinions. If you look at any stock with a summary of analysts views, they all vary widely, to the extent that some have a buy, while others a sell. If the 'professionals' disagree, then how are us mere mortals supposed to come to the same conclusion? As I have indicated, I am very bullish on this stock in the long run, but I am in no position to make a valuation, or put out a price target, without a final JORC and a BFS. That is some time away, and there is much to overcome. So many variables to change over the coming months, and years. With the information available however, on the balance of probabilities I feel very comfortable in saying that it will have a larger market cap than now.  



the barry said:


> i think that bannermans will end up with one of the top 5 deposits in the world.



I agree, close to top 5, depending on what they get in the rest of their tenaments. With potentially 150m lbs + it will put it as he 4th largest deposit of an Australian listed company. And Jabiluka may not mine, although I doubt that. It looks certain to be the biggest in Namibia. How's 150m compare worldwide though?

Edit: Are those Namibian resources correct? They say tonnes of U. That can't be right can it?


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## toc_bat (30 August 2007)

Hi Kennas

Thanks for the nice table, much appreciated.

So I am wondering why PDN has such a huge market cap around $3.8Billion if their resource is 'only' 26Mlbs, is it because they are much closer to production? not so spec anymore?

bye


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## Sean K (30 August 2007)

toc_bat said:


> Hi Kennas
> 
> Thanks for the nice table, much appreciated.
> 
> ...



TB, they're producing, but also have massive potential to increase their resources. They have much more than 26m identified. LH is just the first of their mines. Add in Kayelekera to be operational shortly, then SMM's projects when QLD grow a brain, Bigryli will be a mine, and others. Check out this table.


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## DAZT49 (30 August 2007)

This chart shows a 1,2,3 low followed by a Ross hook.
I am not pumping this system but it is interesting, check out 
http://www.tradingeducators.com/trading_philosophy.htm
Specifically the Law of Charts if you are interested.
Anyway, the taking out of the hook ($2.35) is very signifigant and signifies we have a true trend.


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## toc_bat (30 August 2007)

Thanks Kennas

Surprising that the Uranium Association Website has such an innacurate table, or is there some other factor I am not aware of?

bye


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## Broadside (30 August 2007)

kennas, BMN also has a heap of exploration upside I am sure you'd agree...doctorj raises valid issues but until we see the scoping study there are too many variables to be able to accurately surmise the project economics.  My decision to hold or add will be decided post the scoping study.


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## nizar (30 August 2007)

Broadside said:


> kennas, BMN also has a heap of exploration upside I am sure you'd agree...doctorj raises valid issues but until we see the scoping study there are too many variables to be able to accurately surmise the project economics.  *My decision to hold or add *will be decided post the scoping study.




How about decision to chop?
For me i usually know when to add, hold, or chop a position depending on the price action.
Decision to chop is probably the most crucial, you dont want to be holding dogs for too long


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## Sean K (30 August 2007)

Broadside said:


> kennas, BMN also has a heap of exploration upside I am sure you'd agree...doctorj raises valid issues but until we see the scoping study there are too many variables to be able to accurately surmise the project economics.  My decision to hold or add will be decided post the scoping study.



Absolutely agree. Though, there would have to be a big hiccup for the study to be detrimental IMO.

This is getting close to breaking downtrend, but I have said that before.  Holding above 2.25 will be a start.


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## Broadside (30 August 2007)

nizar said:


> How about decision to chop?
> For me i usually know when to add, hold, or chop a position depending on the price action.
> Decision to chop is probably the most crucial, you dont want to be holding dogs for too long




nizar, I don't see this as a dog by any stretch, if the scoping study is positive and we see good economics and good profitability even at lower U price then I will add, I see stronger medium term U prices, there is still a supply deficit.

...."if"....

They have had brilliant exploration success, it got caught in the U downdraft but you'll notice the better quality U stocks have recovered much of their lost ground.

I would reduce my holding if scoping study was marginal but would keep some as I see much stronger Uranium prices to come.


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## chops_a_must (30 August 2007)

nizar said:


> How about decision to chop?
> For me i usually know when to add, hold, or chop a position depending on the price action.
> Decision to chop is probably the most crucial, you dont want to be holding dogs for too long



My ears are burning...

But you know, fundies versus techies... never gonna get a proper outcome. Personally, I can't see what is wrong with using a stop on fundamental positions. That way you don't give up winning positions instead of losing them when fundamentals "haven't changed". Because sentiment and market conditions sure as hell can...

Cheers,
Chops.

P.S. I wouldn't be trading this on anything other than a short term basis, unless I knew something else... just going on the chart...


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## nizar (30 August 2007)

chops_a_must said:


> My ears are burning...
> 
> But you know, fundies versus techies... never gonna get a proper outcome. Personally, I can't see what is wrong with using a stop on fundamental positions. That way you don't give up winning positions instead of losing them when fundamentals "haven't changed". Because sentiment and market conditions sure as hell can...
> 
> ...




Hi Chops.

I agree re: stops on fundies positions.
This is what Ducati does i think.

*Just because you pick your stocks going by fundamentals it doesnt mean that you should ignore risk management and money management.*

Just my opinion of course, i could be wrong


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## Sean K (30 August 2007)

nizar said:


> Hi Chops.
> 
> I agree re: stops on fundies positions.
> This is what Ducati does i think.
> ...



I agree to some extent. I think this is important as most people become emotionally involved in stocks and look at them with rose coloured glasses after they have made the BIG decision to hit the buy button. Then, how can you REALLY tell if the stock is still the awesome value it was after time. For example, I bet a number of people have bought U companies with the price of U spirling upward into the stratosphere.... Since it's come off 30% ish, and stalled, and the conditions have changed for the reasons of the initial buy, punters may still be holding with the initial perception of the U price clouding their mind. (that's not to say it will recover, as I think it will) Sometimes, the ONLY truth you have, is the chart. That's why I use them to see through the noise, and my own clouded judgement.


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## DAZT49 (30 August 2007)

Didn't like the gap opening, tho BMN, because of the low volumes is pretty volatile. Usually gaps have a reversal of some kind (as the Sp has atm)


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## kariba (30 August 2007)

I am a BMN holder ... I dont mind contrary posts, but I would just like to make some points to counter what I think is erroneous & misleading information.

Firstly: To compare Goanikontes to Langer Leinrich is ludicrous! While the grades at LH are better @ 650ppm, the costs associated with their calcrete carnotite is enourmous in comparison to alaskite processing. If you dont believe me, go do some research into the VERY HIGH cost of leaching involved. PDN are mining secondary uranium from the calcrete palaeochannel. Calcrete deposits are normally high calc & require massive amounts of leaching solution. Langer Heinrich have always had metallurgy problems because of the VERY high carbonate content of the ore – That is why the project was “given” to them by Acclaim back in 2000. They had done all sorts of processing trials over in England, with still no success. Paladin got it for a song & seemed to have solved the issues ??? They have to use a complex alkaline leach process to get the uranium out. But expensive to process, and the emphasis on “seemed to” as the jury is still out!! The amount of acid solution per tonne that Paladin uses at LH is HUGE!!! Both Rossing & Goanikontes have primary uranium hosted in Alaskite as URANINITE. Straightforward to mine, & much cheaper to process. That is why Rossing is one of the cheapest uranium operations in the world & Goanikontes is a Rossing clone:

Another thing; a rollfront deposit that has grades of 650ppm (ala Paladin) and is 20 metres underground SOUNDS better .... Well WRONG!!!! False economy!!! Most such deposits would have 3m to 10m wide orebodies, with the exceptional intercepts getting to 20 to 25m. To get a seriously big deposit, the ore body would have to spread over at least a 6km² plus area. Try calculating how much OVERBURDEN they would have to remove to get to the ore!! 6km² x 20m ... NOW we are talking about high cost!!!

With Goanikontes, once the orebody is exposed, they just mine away!

Which leads to another thing ... some poster suggested undergound operation!!!!! Are they serious!!! Have they actually done any research on Goanikontes!!! Why not ring the company and ask, but, wait for a few minutes to let the laughter die down.

Gonainkintes is OPEN CUT ONLY ... 
1] Bulk tonnage
2] Alaskite hosted (less solution)
3] Primary uranium (not calcrete)

Have no fear, a 350m open pit operation at Goanikontes, even at at 220ppm (it will end up higher), will BLOW Langer Heinrich out of the water of far as production economy goes!! ... After all, Rio are still selling their uranium from Rossing at $25 p/lb, and making packets of $$!!! ... LOL ... To suggest that Goanikontes will be uneconomical is purely uninformed and at worst misleading

cheers


----------



## kariba (30 August 2007)

Something else: I am not sure if the average investor out there realizes the “hidden” potential of Gonanikontes, as mentioned in the quarterly:

“One important and newly recognised feature of the mineralisation is that it occurs in both alaskites AND the host metasediments. The Rössing Uranium Mine to the north of Goanikontes produces up to 40% of its uranium from mineralisation in these sediments. GARC065 is the first significant intercept of uranium mineralisation to be found in these sediments at Anomaly ‘A’ and further expands the potential of the area.”

Hartley's report says further on this:

"We understand that Bannerman has not assayed all potentially mineralised sediments. The previously announced Resource only contains alaskite mineralisation. This sediment hosted mineralisation was highlighted in the recently announced intersection approximately 800m to the south of the Resource in drill hole GARC065."

What makes Goanikontes so great is that the uranium is in the alakite AS WELL as surrounding metasediments (just like Rossing), and have not yet been assayed!!!! = MASSIVE potential tonnage, high economies of scale!!!

The comment from the above quarterly mentioned the similarities to Rossing!!

This mention by Hartley's is the first time I have heard any further comment on this MASSIVELY SIGNIFICANT feature of Goanikontes!!

If this is broadspread it could lead to a much larger deposit than even they are targeting!!

cheers


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## doctorj (30 August 2007)

kariba said:


> the costs associated with their calcrete carnotite is enourmous in comparison to alaskite processing. If you dont believe me, go do some research into the VERY HIGH cost of leaching involved.



Fair enough, but wouldn't that mostly relate to operating expenditure (acids etc) rather than capex? The only comparisons I made with LH were mill recovery where I also looked at 2 others to show 90% was a realistic estimation and capex. Capex at $90mill I maintain is conservative - the process may be less complex than LH, but they have to do 3 times more of it and it has to be bought many years after LH (ie inflation).



kariba said:


> Gonainkintes is OPEN CUT ONLY ...
> 1] Bulk tonnage



Open cut would seem the way to go for such low grades I agree, but will they do this down to 280m? Also, how much waste will they need to remove to get to the ore body?



kariba said:


> Have no fear, a 350m open pit operation at Goanikontes, even at at 220ppm (it will end up higher), will BLOW Langer Heinrich out of the water of far as production economy goes!!



I hope it does.



kariba said:


> ... After all, Rio are still selling their uranium from Rossing at $25 p/lb, and making packets of $$!!!



I'm not sure it's fair to make sweeping comparisons to a 31 year old mine and draw any sort of conclusion from it.

Anyway, it's disagreement that makes a market...


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## kariba (30 August 2007)

doctorj said:


> But wouldn't that mostly relate to operating expenditure (acids etc) rather than capex?
> 
> Open cut would seem the way to go for such low grades I agree, but will they do this down to 280m? Also, how much waste will they need to remove to get to the ore body?
> 
> ...




DoctorJ,
*Capex*, as I understand it is: "Money spent by a company to purchase property, plant, and equipment assets" ie the processing plant etc. 
Whereas *Opex *refers to the mining milling & other operating expenses of the project.

In the case we are talking about, IMO the opex, or expense of mining lower grade Alaskite ore will be offset by the QUICKER & LOWER COST of leaching. I suggest you do some research on the horrendous amount of solution that PDN have to use to leach ONE tonne of ore ... Here is some info from one source:

"_Alkaline leaching is more selective for uranium and very useful in the treatment of uranium ores where limestone is the main impurity. This type of gangue is very reactive and consumes high dosages of acid such as 100 kg/t.

The alkaline process has high cost and requires fine grinding and high temperature with residence time very long during leaching. The alkaline process is justified when the ore has a high grade of uranium._"

That’s right: 100 kg per tonne ... is is VERY expensive & MUCH slower than the acid solution that BMN will use on their URANINITE Alaskite.

*In connection with open cut *.. it is a given! I don’t know why people question the depth!! The orebody at Goanikontes starts just a few metre below the surface. Once it is exposed, they just blast & remove the ore, working their way down ... In fact, in an open pit, the MOST waste is removed in the UPPER parts of the open pit, which starts off with a large circumference & then slowly comes INWARDS as the pit gets deeper ... the lower they get, the cheaper it actually is!! The only extra cost is the road to the top gets longer ... each trip to the top takes longer & uses more fuel, however that is compensated by the less side-wall wastage that needs to be removed. The company has clearly stated that it is a bulk tonnage, low cost operation. The model for the open pit has already been proposed.

*In regard to sweeping comparisons with RIO* I feel you comparison with Langer Heinrich were sweeping, and misleading. In connection with Rossing. What is general & sweeping about the fact that they are

1] Mining the same Alaskite ore as BMN will
2] Use the same, or similar process that BMN will
3] Mine in the same country, district & geology as BMN will
4] Have grades that are only slightly higher than BMN have
5] Are mining open pit, currently at 320m, and will now extend that to 450m to mine LOWER GRADE ore!!
6] AND, are locked into long term contracts that are still around US$25 p/lb (BMN will have access to the then current long term U price)

Thats not generalizing at all! That is quite specific in saying that any comments made to fact that Goanikontes is uneconomical is erroneous and lacks appropriate research.

*Disagreement that makes a market* You are right in that .... I enjoy it actually, it makes me do more research & confirms my investment decisions, and in some cases change them! Although certainly not in this case

cheers


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## doctorj (30 August 2007)

kariba said:


> *Disagreement that makes a market* You are right in that .... I enjoy it actually, it makes me do more research & confirms my investment decisions, and in some cases change them! Although certainly not in this case



Indeed it does.  Thanks for your very well researched post.  Everyone learns from robust discussion, whether they can apply it to BMN or something else, everyone wins.  

I'm not sure I'd characterise my comparison with LH and sweeping at all.  The figures and model used for calculating operation expenditure per ton were taken from a well known text book on mine valuation - they weren't using LH as a reference at all (capex was where the comparison was made which shouldn't really be affected by acid usage, suffice to say its probably a good indication of the complexity of the LH process).  I'll happily re-perform the calculation for open cut tonight, as that's the consensus of what's likely here, which should appear more favourable - how many tons of ore do they plan to process each year?


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## Sean K (30 August 2007)

kariba said:


> *Disagreement that makes a market* You are right in that .... I enjoy it actually, it makes me do more research & confirms my investment decisions, and in some cases change them! Although certainly not in this case cheers



Thanks Kariba, for a quality response. And when this approach is taken, maybe enlightens us all. I haven't time to look through it in more detail right now. (getting late in Peru), but I hope to have a better look tomorrow. I'm sure others here will too. I am starting to think the answers will be somewhere in the middle of the bullish and bearish extremes, so it's going to be interesting when it pans out. I am a sceptic at heart (if others haven't noticed, LOL ), so I'm erring on the side of caution while the market is peaking, and possibly tanking.......


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## Rafa (30 August 2007)

Thanks Kariba, DoctorRJ and Kennas, for your posts...
I am a holder from way back thanks to Chris... So thanks to Chris too.

Sorry, can't add much on the funda's as i only use FA for shares that are making money not specs.

Keep it up, all...


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## kariba (30 August 2007)

Just another comment:

Some here feel that BMN have "delayed" the BFS to increase the resource before years end ... the belief being that the currently defined resource is uneconomical.

Look folks, anyone can have their opinion .... but that’s all it is, an opinion!!! And I think one based on the misguided view that Goanikontes is uneconomical.

So, what is the reality?

Well, BMN have had to crawl BEFORE they walk ... and walk before they can run. Now this is how it works. They HAD to get the JORC out first BEFORE they could begin the SCOPING STUDY, and that SS had to be finished BEFORE they could begin the BFS. Remember too, that while the SC only needs an interim resource, the BFS needs the whole resource JORC'ed ... AND to a higher level.

Now they have *2 options* open to them:
1] Wait until the whole of Anomaly is JORCed & then begin the Scoping Study (circa: 2008, with BFS in Q3) ... OR
2] JORC up an INITIAL resource and fast track the Scoping Study & by extension the BFS

BMN are so confident in Goanikontes, they have gone with #1 ..... Rather than this being a DELAYING of the BFS ... This in fact a FAST TRACKING of the WHOLE project development process. 

Hence we have had the release of the Initial JORC and quick progress to Scoping Study, all happening CONCURRENTLY with infill drilling, resource depth drilling, and strike extension drilling. Along with TSX listing they are setting up BMN brilliantly over the last few months of this year.

Once BFS starts, we will in effect be in launch sequence!

With the above in mind, we begin to see why the broker tour has generated so much interest in BMN, and so far the only Aussie one to report is Fat Prophets!! According to FP - who are notoriously conservative - Goanikonties Anomaly A is a "World Class" deposit! Wait until the rest of them report to their clients.:

cheers


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## kariba (30 August 2007)

doctorj said:


> how many tons of ore do they plan to process each year?




Sorry DoctorJ ... I just saw your question. Only guess work at this stage, this info will be release in the Scoping study:

"The Scoping Study, which is expected to be completed in August, will provide the company with indicative figures associated with:
- Processing options
- Ore mining rate (per annum)
- Cut-off grade
- Mining Grade
- Recovery
- Annual U3O8 production
- Operating Cost
- Capital Cost
- Tailings Management"

cheers


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## captjohn (30 August 2007)

kariba said:


> Sorry DoctorJ ... I just saw your question. Only guess work at this stage, this info will be release in the Scoping study:
> 
> "The Scoping Study, which is expected to be completed in August, will provide the company with indicative figures associated with:
> - Processing options
> ...




Kariba ,  What an absolute pleasure to read your very clever informative analysis of the bannerman big picture  over there in Namibia !!

For over an hour I've absorbed your 'matter o' fact'  posts & at last put doctor j & kennas sitting up to a new force on the thread !!

I am absolutely convinved  now ( after your posts )  that bmn are on track to be one of the top performing companies over the next few years !!

Tsx listing , more drilling , to prove up 130 plus mill.lbs  then BFS in 2008  all adds up to a progressive confident company ...

Thankyou so much for your input & really hope you'll keep posting. to add an authentic value to this forum..

cheers, captjohn


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## drmb (30 August 2007)

kennas said:


> drmb, as we know different analysts will have different opinions. If you look at any stock with a summary of analysts views, they all vary widely, to the extent that some have a buy, while others a sell. If the 'professionals' disagree, then how are us mere mortals supposed to come to the same conclusion? As I have indicated, I am very bullish on this stock in the long run, but I am in no position to make a valuation, or put out a price target, without a final JORC and a BFS.




I think my point was that the professional researchers attached to the three brokers who have provided comment on BMN (Hartleys, Carmichaels, and FPs), all indicate and have indicated for some time a spec buy, using the evidence to hand! Enough for me to buy in last year the equiv of a new car.

I think there is a certain difference in risk/reward perception here between me and thee. I am not risking everything on this, it is about 5% of my portfolio. But I think the reward potential is big.

Risk can be measured as a multiple of Severity (ie the higher the severity the more you can lose everything), and Detectability (the more information the easier to see, the lower the risk, and the lower the reward), or R = SD.  As severity decreases and detectability increases, the lower the risk and the reward. Yes, there is a Sod's law, for Failure Mode Effect Analysis - Risk Priority Number = SOD.

Everyone's risk appreciation is different but I think there is enough on the table to show ME that the risk is manageable, and the reward is significant. If we all wait for the full JORC, SS, BFS, etc then the reward is smaller. May as well keep the money in the Mac CMT or the Ing Direct account at 5% interest.

Kariba, thanks for your comments, they are much appreciated, and importantly bring a balance to the debate.


----------



## Sean K (31 August 2007)

kariba said:


> Something else: I am not sure if the average investor out there realizes the “hidden” potential of Gonanikontes, as mentioned in the quarterly:
> 
> “One important and newly recognised feature of the mineralisation is that it occurs in both alaskites AND the host metasediments. The Rössing Uranium Mine to the north of Goanikontes produces up to 40% of its uranium from mineralisation in these sediments. GARC065 is the first significant intercept of uranium mineralisation to be found in these sediments at Anomaly ‘A’ and further expands the potential of the area.”
> 
> ...



This has been mentioned in the thread previously and people should be aware of it. I agree this is potentially very significant, but it's also important not to overemphasize at this time either.

The company did note that GARC065 was the *first * significant intercept of sediment hosted uranium. 


> GARC065 is the first significant intercept of uranium mineralisation to be found in these sediments at Anomaly ‘A’ and further expands the potential of the area.



So, it does no way mean that the bulk of the metasediments between all the alaskites across the entire deposit hosts significant uranium. I certainly hope it does, but that is to be confirmed, and to what degree. Could be a great surprise to the upside if they've found it in other assays. 

If it does turn out to add up to 40% more to the tonnage, like Rossing, then yes, incredibly significant. The company didn't make note of this in their 27 Jul presentation which is odd if it is that significant. Or did I miss it in there?

Hopefully we get an update on this is the scoping study.


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## Sean K (31 August 2007)

kariba said:


> Just another comment:
> 
> Some here feel that BMN have "delayed" the BFS to increase the resource before years end ... the belief being that the *currently defined resource is uneconomical*.



 The current defined resource is uneconomical. It's 27m lbs and requires significant infrastructure to get up. What is economical is yet to be determined which should occur in the BFS. 

I think this comment about any feeling that a BFS has been 'delayed' has been taken out of context. Saying that a BFS has been 'delayed' is a bit odd in correct context. The usual process is scoping study, PFS, BFS, and maybe one last definitive FS to establishing infrastructure/development. You must have a final resource before BFS commences and this is due end of the year, but I wouldn't expect it on time with all the activity going on.


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## Sean K (31 August 2007)

kariba said:


> With Goanikontes, once the orebody is exposed, they just mine away!



Kariba, You've made some great points but I feel you are underestimating the ore to be removed from Anomaly A to get to the U hosted alaskites, and possibly the metasediments hosting some U. Once the ore body is exposed it is not going to be a simple matter of 'mine away!' 

The alaskites look to be angled at about 45 degrees, down to 350m, (see diagrams below) which means there is going to be massive overburdon to the top of the lower alaskite, over a 2.3km strike. In addition, if the material between the alaskites is not leached, and is waste, then there is going to be a more significant requirement for removing the waste to get to the ore. The distance between the alaskites is somewhere between 20-50+ m. Over 2.3km x 350m this is a huge amount of work to get to what is relatively low grade ore by world standards. In addition, to dig an open pit mine down to 350m you don't just go straight down, of course. There needs to be access and decline so the walls stay sound. Assume the strike is 2300x350x300 that is going to be a massive pit. A massive amount of ore is going to have to be removed to get to the U. Of course, if the metasediments contain significant uranium this will be of great benefit.

Having said that, with potentially 150m + lbs U sitting there, it's going to be economical IMO, but by how much may depend on the POU over the next 20 years. Long term prices will be what?? No one knows for sure. 

So, there's more to just digging this stuff up like it's sitting in the ground like a block of cheese. 



(holding )


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## Sean K (31 August 2007)

kariba said:


> Another thing; a rollfront deposit that has grades of 650ppm (ala Paladin) and is 20 metres underground SOUNDS better .... Well WRONG!!!! False economy!!! Most such deposits would have 3m to 10m wide orebodies, with the exceptional intercepts getting to 20 to 25m. To get a seriously big deposit, the ore body would have to spread over at least a 6km² plus area. Try calculating how much OVERBURDEN they would have to remove to get to the ore!! 6km² x 20m ... NOW we are talking about high cost!!!
> 
> With Goanikontes, once the orebody is exposed, they just mine away!



I agree that comparing AA to LH is like comparing apples to oranges, but I can not see why you would assume a deposit like LH is less economical than AA. It's important to get the detail of LH correct in regard to overburden comparison, and economics associated.

LH occurs over a 15km length in seperate pods, with mineralisation 1m to 30m thick and is 50m to 1,100m wide, depending on the width of the palaeo-valley. The deposit is blanketed by up to 8m of river sands. The overburden here is hardly what BMN face to get to the lower alaskites at AA. 350m....


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## Sean K (31 August 2007)

kariba said:


> According to FP - who are notoriously conservative - Goanikonties Anomaly A is a "World Class" deposit! Wait until the rest of them report to their clients.:
> 
> cheers



I've been a member of FP for a couple of years and I have got better tips from YT. :


kariba, thanks for your posts, they have been very informative and allowed us to discuss this company in detail. My comments above are probably full of holes and I expect people to disect them, and question them, which I will be very happy with. You seem to have a much better understanding of this company than me and I look forward to your further input so we all may benefit! Cheers, kennas

Go BMN!!!


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## Sean K (31 August 2007)

Chart wise, you could probably put this in the potential breakout thread. Although it's been here a few times the past few months. 

Cracking $2.25 was very important as it's breaking the last low, but making a higher high throug $2.50 will be more bullish. Note that if the stock reaches somewhere between $2.50-75 it will be making higher highs and cracking 200d ma which is a bullish sign. If trading just on technicals this would be a strong buy signal, but I'm not sure if I can really say that can I. I would anticipate that if the sp does get to the top green circle, the MACD will be approaching the signal line to give further suport to a longer term breakout and 'buy' signal. Not particularly happy with volume coming off on the way back up...RSI cracking the 50 line and on the up is very positive through. Once these resistance lines are broken we can start considering BMN making a long term trend line other than down. 

Having said that, the market is stalling at 6200, which is a concern to me for short term trading and entering stocks for the first time. If we fail here, the chart may indicate an XAO 5 wave down which will take everything else with it. Perhaps the charts will say the same thing. ie, if the XAO breaks up, then BMN will have the positive lead to break up as well. 

Scoping study may put a spanner in the works one way or the other. 

Cheers.


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## nizar (31 August 2007)

Kennas i really cant believe you've turned into a "believer" 
Thats so tragic 
You used to be the one putting some common sense into this board.
LOL 

I hope this stock goes to the moon coz theres just too many believers, too many...


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## Sean K (31 August 2007)

nizar said:


> Kennas i really cant believe you've turned into a "believer"
> Thats so tragic
> You used to be the one putting some common sense into this board.
> LOL
> ...



Ha ha.  I've liked this from the start, and bought and sold it many times over the past year. The 'negative' vibes might be because I have been trying to get some decent analysis out of people instead of just 'toot toot, back up the truck!!', blah blah BS, which has been an unfortunate consistency throughout. 

Do you think I'm sounding too bullish? 

Sorry.....

he, he.

Toot toot!!!!!!!!!!!!!!!!


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## noirua (31 August 2007)

BMN are suffering as most Uranium miners are at the moment. A Uranium mine takes about 5 years to get into production and that has to be a big concern for a company developing a mine, especially with the Uranium price tanking at the moment.
Hopefully good news from the States yesterday, if it can be believed, looks for a sustained recovery in the second half.
If I was holding BMN, which I'm not yet, I would not be tempted to sell at todays price. 
I saw an article at "III" that was very bullish from October on, as so much cash is building up with institutions that will find its way to markets soon. That's what they think anyway.


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## DAZT49 (31 August 2007)

This is an updated (10 mins ago) chart of the one I posted a couple of days ago (post 2280)
I noted that the breakout of $2.35 was important.
We got the breakout, but with a gap opening.
See my post 2289 about gaps.(it is very risky to trade on a gap, I wouldnt)
That gap has now been filled. Hopefully the upward movement will now continue as we dont have a confirmation of a trend yet.


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## kariba (31 August 2007)

kennas said:


> The current defined resource is uneconomical. It's 27m lbs and requires significant infrastructure to get up. What is economical is yet to be determined which should occur in the BFS.
> 
> I think this comment about any feeling that a BFS has been 'delayed' has been taken out of context. Saying that a BFS has been 'delayed' is a bit odd in correct context....




Kennas

"The current defined resource is uneconomical" ... This is debateable, but nevertheless moot! The initial JORC, as stated by the the company, was quickly put out purely so that the rest of the process of S/study & F/study could be facilitated. If we all wait until full JORC & then BFS we will not be paying these prices!! Risk reward ratio.

This was the statement in question. 
DoctorJ:“This is why BMN are drilling for more and looking 280m down for there ore that is returning grades lower than PDN's cut off grade back in 2005”
“That's obviously why they've not moved to a BFS yet and are instead hoping to extend the resource.”

IMO thats just purely erroneous and needed a reply

cheers


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## kariba (31 August 2007)

kennas said:


> I agree that comparing AA to LH is like comparing apples to oranges, but I can not see why you would assume a deposit like LH is less economical than AA. It's important to get the detail of LH correct in regard to overburden comparison, and economics associated.
> 
> LH occurs over a 15km length in seperate pods, with mineralisation 1m to 30m thick and is 50m to 1,100m wide, depending on the width of the palaeo-valley. The deposit is blanketed by up to 8m of river sands. The overburden here is hardly what BMN face to get to the lower alaskites at AA. 350m....




Kennas

I have no problems with your moderate, or cautious view. However, the proof is not "just in the pudding" as they say, it is in the eating! While I am a fan of PDN’s accomplishments in general; FACT: they have REAL problems at LH!!! Have a look at exactly HOW MUCH uranium they are producing over what they forecast, and the cost, time, & difficulty they are going through to achieve it - All on public record! The jury is well & truly out on LH. Whereas the low-grade bulk tonnage Rossing continues to be profitable, even at locked in lower contract sales. You guys are all hung up on the grade & are forgetting the ore involved. Uraninite vs Carbonate Carnotite

Then as regards the, actual mining, using your figures, PDN are digging areas up to 1.1 km WIDE over areas up to 15 km LONG, and they too need a WIDER pit for decline and access to the ore, and probably multiple pits around mineralised zones. AND when they get down there, the ore is in some places only a few metres thick! So, they move on & keep doing that for what? up to 15klm!!! How much tonnage is that!!

Of course we know it’s not going to be a run in the park at G, just as no mine ever is, and just as LH is not proving to be so. But we are talking about a "park" at Goanikontes that is worth $15 BILLION.

cheers


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## kariba (31 August 2007)

kennas said:


> I feel you are underestimating the ore to be removed from Anomaly A ... it is not going to be a simple matter of 'mine away!'
> 
> The alaskites look to be angled at about 45 degrees, down to 350m, (see diagrams below) which means there is going to be massive overburdon ... In addition, if the material between the alaskites is not leached, and is waste, then there is going to be a more significant requirement for removing the waste to get to the ore. ... this is a huge amount of work to get to what is relatively low grade ore by world standards. In addition, to dig an open pit mine down to 350m you don't just go straight down, of course. There needs to be access and decline so the walls stay sound. Assume the strike is 2300x350x300 that is going to be a massive pit.
> 
> A massive amount of ore is going to have to be removed to get to the U. So, there's more to just digging this stuff up like it's sitting in the ground like a block of cheese.




Kennas

*Firstly:* Was I over-simplifying the work involved in Goanikontes? .... Of course it was! But I did so for the reasons of clarity, because I feel and you and others are over-complicating Goanikontes & oversimplifying what is going down at LH. (we keep comparing them ... we shouldnt!!) 

*Secondly:* Lets get to the overburden:
You seem aware that two types of waste material are generated at all mining operations: waste rock and overburden from the mine. “Overburden” by definition describes material that lies above the ore body. As you will see, in the case of Goanikontes there will initially be very little overburden removal to expose the ore body and begin mining. Once ore stripping has commenced, waste removal too is initially comparatively minor. Essentially the open pit at Goanikontes will be done in stages. In the first stage open pit, there will be virtually ZERO overburden, and minimal waste rock in context. BMN have 27 million lbs in 1500m x 80m … what will we have at 2250m x 80 (and getting bigger)?? … I come up with an easy 50 million lbs in the TOP 80 metres in Anomaly A alone. As they eventually mine out the first stage they will need to then enlarge the pit to go deeper …. But let’s get this all into perspective: We are talking YEARS away!!! I personally doubt they will need to go looking to go below 80 metres this side of 15-20 years of mining. Then what will the price of U3O8 be worth? Who cares!! I doubt any of us will even own a share, or that BMN will still be around … It will be taken over long before then IMO.

However to engage the issue, what happens when they need to go deeper? Assuming the price of U has kept up (we assume it will) -  In the end it comes down to *STRIP RATIO*. You can bandy words around like massive overburden etc. …. But in the case of Goanikontes that is not so! Why? Because ultimately, it is all about economies of scale. Goanikontes will be a BULK mining project! Every informed pundit in the industry is banking on the next word-class U-development being a “bulk-tonnage” low grade mine. So here is a Pop Quiz: Which is better? 
1] An 8m ore body under 8m overburden …OR
2] A 160m ore body under 160m overburden
The answer is NEITHER. They are both equal, both have a strip ratio of 1:1 … (this is very good by the way) To mine 100 million tonnes of ore, both will end up having to remove 100 million tones of waste! 

At Goanikontes, once the top 80 metres is mined, They will then do their sums, redesign the pit, and start again. This time they effectively WILL have significant side waste to remove for the decline, & then overburden to remove to get to the next layer. But once reached, they will be bulk-mining the second ore layer, with recent drilling showing interepts between 40m - 120m .. Grading HIGHER at depth!!

Speak to any mining manager and ask him which is preferable; a] ore that spread all over the place (like LH at over 15km strike) or b] a bulk mining project concentrated in ONE block going vertical ... answer: "No contest … b] wins!" 

In the case above, I have used ad hoc figures from LH & from Goanikontes…. Many of BMN’s drills are coming up with those sorts of numbers, however, the waste strip ration will end up averaging much better than 1:1 IMO.

cheers


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## kariba (31 August 2007)

kennas said:


> Attached Pic




Finally: 

The diagram you are using there is not complete and is probably misleading you a tad – It needs to be viewed in context!. … ie: It was used in the presentation JUST a part-diagram used to show the correlation between historic grades & current depth extension drilling. It fails to show the mineralization further East!! I have included some illustrations to help get a better perspective

Summing up: 
1] Goanikontes will initially have minimal waste with a MUCH better strip ratio than PDN, and IMO with the full pit, will end up with a similar ratio – All to be confirmed by the scoping study of course!
2] Their bulk-mining capability will add economies of scale, further reducing costs
3] Processing the Unaninite out of alskites at G. will be much easier, cheaper, & faster than leaching the high carbonite carnotite at LH. ….. PDN might be able to process half as much as BMN … But, what’s the difference if it costs five times as much in solution, & takes three times as long to leach!! This is not just my opinion, it is information freely available over the net.
Remember these three keys:
• Economies of scale
• Bulk-mining
• Unaninite as opposted to carbonite carnotite

Finally, forget the 350m open pit … that will be the BIGGER picture …In the meantime focus on the $5 billion $$ worth of uranium sitting in the TOP 80m at Goanikontes Anomaly A ALONE! That alone is worth multiples of the current SP!!

cheers


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## insider (31 August 2007)

I have to put my two cents in about mining... It is easier to mine in dry areas, Why? well one reason is retaining walls... The soil holds up better than if it was moist. I don't think they're going to have nearly as much trouble as some think... my


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## Sean K (31 August 2007)

kariba, thanks for your time in responding to these points. I think overall we both agree that this is a great deposit that will be economical, but neither of us know by how much. It seems there's just some relatively minor detail we're disagreeing with which may be just about our choice of phase and vernacular. I always tend to take a more conservative view of things, which is just my style, as many would know on this forum.



kariba said:


> Kennas
> 
> "The current defined resource is uneconomical" ... This is debateable, but nevertheless moot!
> 
> cheers



I agree, I just raised it as a fact that seemed to be debated. 



kariba said:


> Kennas
> 
> I have no problems with your moderate, or cautious view. However, the proof is not "just in the pudding" as they say, it is in the eating! While I am a fan of PDN’s accomplishments in general; FACT: they have REAL problems at LH!!! ....The jury is well & truly out on LH. ....
> cheers



I agree, I wouldn't compare these two deposits as I have said, but it was raised. 



kariba said:


> Kennas
> 
> *Firstly:* Was I over-simplifying the work involved in Goanikontes? .... Of course it was! But I did so for the reasons of clarity, because I feel and you and others are over-complicating Goanikontes & oversimplifying what is going down at LH.



 I disagree. Oversimplify, or overanalyse, what's worse? The answer may be somewhere in the middle. 



kariba said:


> *Secondly:* Lets get to the overburden:
> ....In the first stage open pit, there will be virtually ZERO overburden, and minimal waste rock in context. BMN have 27 million lbs in 1500m x 80m … what will we have at 2250m x 80 (and getting bigger)?? … ....I personally doubt they will need to go looking to go below 80 metres this side of 15-20 years of mining. Then what will the price of U3O8 be worth? Who cares!! I doubt any of us will even own a share, or that BMN will still be around … It will be taken over long before then IMO.
> 
> However to engage the issue, what happens when they need to go deeper? Assuming the price of U has kept up (we assume it will) -  In the end it comes down to *STRIP RATIO*. You can bandy words around like massive overburden etc. …. But in the case of Goanikontes that is not so! Why? Because ultimately, it is all about economies of scale. Goanikontes will be a BULK mining project! Every informed pundit in the industry is banking on the next word-class U-development being a “bulk-tonnage” low grade mine. So here is a Pop Quiz: Which is better?
> ...



A few things here for consideration:

I agree, the intital mining will of course be digging straight into the deposit at the top with no overburden. However, there is a question of grades at this level and the walls of the pit will still not be verticle. BMN have actually provded a pit model in their presentations, but I'm not sure if it's based on AA, or not. See below. Might have to ask the company, but if it is, it looks to have sloping sides to me. Perhaps this is the 'longer term' model you have described after the initial few meters.

I think you're glossing over the ore between the alaskites to be removed. The stacked alaskites do seem to go down on a 45 degree ish angle and have significant space between them. This will have to be removed. Happy to be corrected here. 

You think that they won't go under 80m within 15-20 years? I'm not too sure about this and it's probably not a good argument to get over the issues of digging up the lower part of the deposit which seems to be wider and at better grades. Perhaps the fact Rossing have been going for 30 years is some sort of guide but I don't undertand their deposit that well to make a direct comparison. ie, depths, widths, plant operations, etc.

Thanks for that addition view of the layers of alaskites. This does show that they will be processing quite a bit of ore at the top but there are some gaps in the alaskites to be considered there. About 30m between? Determining the gaps between the following layers at depth (looks to be 6 or 7) would mean going through all the drill results in detail.... I think we could assume between 20-50m. Quite a lot over 2.3km to 350m, surely.  

I agree strip ratio is important, but I thought we weren't comparing LH and AA any more. Since you've brought it up though, the 1:1 strip is incorrect for LH I think. It's 1-30m thick under 8m, so I could only assume ave 15m under 8m is about 1:2 ish. That could be way off though. But again, I agree moot in this case.


Overall, I agree with your points about the initial stages of mining but I'm not sure if your assumption about not going lower than 80m in the next 15-20 years is sound, nor the amount of overburden. 

Hopefully they have a pit design concept in the scoping study so we can both be proven wrong.  LOL


Once again thanks for your points, I'm sure I'm learning something out of this. Cheers! kennas


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## kariba (1 September 2007)

kennas said:


> However, there is a question of grades at this level and the walls of the pit will still not be verticle.
> 
> I think you're glossing over the ore between the alaskites to be removed. The stacked alaskites do seem to go down on a 45 degree ish angle and have significant space between them. This will have to be removed. ...About 30m between? Determining the gaps between the following layers at depth (looks to be 6 or 7) would mean going through all the drill results in detail
> 
> ...




Kennas

Just a quick one ... more maybe later!

1] *"a question of grades"* ...walls of the pit will still not be vertical" It goes without saying that ANY mining pit even a shallower one needs graded inclines. As to the question on grades ... Look you guys are hung up on that. IMO its a non-issue. Rossing has grades of 300ppm dug from a 320m pit & sold at US$25 p/lb and is economical!.... Man, get over the grades! The top portion of Goanikontes is WAY economical at 250ppm, mined from surface, & sold at US90 p/lb

2] *"15-20 years?"* They currently have 50 million tonnes of ore for 27mil lbs @ 1.4klm x 80m ... Drills have extended it wider & longer to 2.3klm .. So IMO 80 million tonnes of ore for 50m lbs is reasonable.

Rio (Rossing) in all their glory, currently (2006) mine 12mil tones ore p/a, for 8mill lbs p/a ... No way in the WORLD will BMN get near that! But lets assume for BMN a conservative, but VERY respectable initial 2.8mil lbs p/a, which means mining 5mill tonnes ore p/a. That will take them 16 years to work through (16x5mil = 80mil). A strong probability exists that they will keep extending the surface pit further South around the Dome, extending mining by a few years.

3] You guys are also hung up on this "overburden/waste" issue! So lets compare it with Rossing shall we?

In 2006 Rossing mined 12 million tonnes or ore ... very interestingly, they also report they mined 16.8 million tonnes of WASTE ore!!! Yes, they have a strip ratio of 1.35:1 ..... IMO that is HIGHER than BMN will have, but certainly BMN wont be worse. One thing that tells you is that Rossing is not one solid clump, but has significant waste between and around the ore …Goanikontes is a smaller Rossing clone. Yes, Rossing has 300ppm vs 250ppm, but the ore gets richer going deeper & BMN will have higher U prices to sell into!

Truly, mate you are going to have to get over this mindset!!

Thats all for now

Cheers


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## Sean K (1 September 2007)

kariba said:


> Kennas
> 
> Just a quick one ... more maybe later!
> 
> ...



Thanks kariba, all good points. But you won't get me out of a midset that forces me to not take things at face value and to analyse projects that I am investing money in. Hopefully others don't just jump on any bandwagon without as many facts as possible also. Perhaps with the information presented here members have a better understanding of the project and can make a more informed decision. Cheers.

PS, all this has really done for me is confirm that AA, on it's own, on the balance of probabilities, is a company maker. What we have to look forward to is further exploration at Goanikontes which could produce further economic deposits.


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## kariba (1 September 2007)

kennas said:


> But you won't get me out of a midset that forces me to not take things at face value and to analyse projects that I am investing money in.




Hi Kennas

You are dead right .. that’s not my intention, and I hope everyone questions their investment decisions thoroughly ... I certainly did in the case of BMN hence my research & understanding of the project.

Additionally, everyone needs to remember the reality: That is, that all investments, especially developing resource stocks, are very high risk. Bannerman is NO exception. If not a project related risk, then from risks pertaining to external market sources, as we have seen over recent weeks & months. 

I have over recent months began to concentrate on only the "best" stocks out there; either in project, potential, management, and/or value. BMN is one of a handful I am following and as you can see, very confident in. I have the luxury of having a high risk tolerance, and view the risk:reward ration on BMN as outstanding!

I hope the info I have posted assists any who were unclear on certain matters pertaining to Goanikontes. From there on, please do your own further research, evaluate you OWN risk profile & tolerance, and invest accordingly

In the meantime, I enjoyed the reparte:bigun2:



Regards & all the best


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## captjohn (1 September 2007)

Karibas &(kennas) 

Thanx guys for you opinions on the finer points of an "economical mine".

To borrow $500 million to build a mine & then need an open check book for a year or two for operating expenses  is an awesome proposal.....

so they (bmn ) have to be spot on with whats there & how to get it out & sold for top dollar! The BFS will evaluate this in due course next year!


 In between time We want that scoping study for starters to see what is proposed.

Then & only then can we determine what can be produced from a mine .

personally ,I don't have the experience to work it all out........thats why I really appreciate Karibas & kennas discussing the potential of the bmn resources.

I dread the thought that RIO would try to 'takeover' bmn....it would be like kidnapping my grandchild.....Grrrrr!! I want to see a mine built & producing within 3 years -ish !!
Thanx again Kariba for your very informative analysis .......captjohn


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## DAZT49 (4 September 2007)

Anybody on this side have any idea when the scoping study might lob.
I was told by JH in mid July that it would be mid Aug.


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## insider (4 September 2007)

DAZT49 said:


> Anybody on this side have any idea when the scoping study might lob.
> I was told by JH in mid July that it would be mid Aug.




Well I haven't found any source that ever indicated it was in August... So sit tight and wait for the thing to come out soon


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## Sean K (4 September 2007)

insider said:


> Well I haven't found any source that ever indicated it was in August... So sit tight and wait for the thing to come out soon



It was hidden away in their quarterly insider. Poor darts they haven't stuck to the time frame, or perhaps more correctly, haven't managed Coffey/RSG well enough to get it done in time perhaps! It's also indicated in the timeline to production chart in their presentations. Jst a few days over so not the end of the world. Every day that passes without an update though.....Get the comms team working BMN! cheers.


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## DAZT49 (5 September 2007)

On 16 of the last 23 days BMN has opened or closed at or around the $2.25 mark. Only 2 or 3 days above $2.25 about 20 days ago.
It really needs a positive ann to break thru that substantial barrier.


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## Go Nuke (5 September 2007)

Bannerman seems to be going like most of the other Uranium stocks......continuing their downward trend.
PDN has gone below $6 again today, and if u compare the charts BMN, PDN, MTN, ERA etc, they all seem to be following suit.

I hope the coming ann helps BMN, though sentiment is still not too good on Uranium at the moment Regardless of the size of the resource.


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## captjohn (6 September 2007)

Hi Go Nuke,

As you all know the Uranium sector is in "the doldrums" !!

When I was sailing 'round the world' I got stuck in the doldrums (horse latitudes) in the south atlantic ocean.

  Fortunately , I used my auxillary diesel motor occasionally to keep  slowly moving !!

Every day seemed like a week & then finally the wind freshened & my yacht took off again....

Believe me the Uranium sector especially bannerman will get going again.

This is 'the correction' that was envitable... by xmas bmn will make up lost time .....In between time they are very busy drilling !....to increase the resource size

Have a look at *Far east capital's report from the media tour to namibia*...its posted onto the Extract resources website under 'media release' ...by warwick grigor.......some of the figures from his field trip are like a mini scoping study,

cheers captjohn 
....


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## kariba (6 September 2007)

Worth mentioning the ASX300 inclusion today

All sorts of benefits there, none the least of which we will now have a number of index funds running the ruler over BMN for the portfolios

Sep 21 

By then Scoping Study should be out!

Coming together nicely


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## Go Nuke (6 September 2007)

Hello again Cpt'n good to see you still around

Ahhh so thats what the ann meant today. The ASX 300.
I had no idea, nor do I know what that will mean for Bannerman.But it sounds like a good thing Kariba..thx

I hear ya Capt'n I too still firmly believe that Uranium is the fuel of the future...just out of favour at the moment

I'll just keep covering myself between Resources (gold, iron, Uran) and Bio stocks...


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## the barry (6 September 2007)

I really think that the uranium sector is going through something similiar to the tech boom with everyman and his dog starting a uranium company. Over time the rest will get left by the wayside and the quality remaining. Hopefully bannermans is one.


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## champ2003 (6 September 2007)

the barry said:


> I really think that the uranium sector is going through something similiar to the tech boom with everyman and his dog starting a uranium company. Over time the rest will get left by the wayside and the quality remaining. Hopefully bannermans is one.




LOL hopefully! It's already a quality top 300 asx all ords company so no prob's in that arena.


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## professor_frink (6 September 2007)

champ2003 said:


> LOL hopefully! It's already a quality top 300 asx all ords company so no prob's in that arena.




some companies that made it into the ASX300 in 2000-

MelbourneIT
Powerlan
sausage software
solution6
Davnet

There are more but you get the idea.

Just because it's in the ASX300 today doesn't mean that it will necessarily stay there, nor does it make it a quality company.


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## captjohn (6 September 2007)

professor_frink said:


> some companies that made it into the ASX300 in 2000-
> 
> MelbourneIT
> Powerlan
> ...




I see you havn't moved outa the year 2000  ....Frink !!

Did you lose $$$ on all of those ???...sounds like it !!


Why don't you tell us all just what a quality Uranium company might be .....instead of downramping every post  from long term holders looking for a positive comment!!


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## bliimp (7 September 2007)

professor_frink said:


> some companies that made it into the ASX300 in 2000-
> 
> MelbourneIT
> Powerlan
> ...





Good point Professor!

And only recently, in 2001 the following companies went under

a) HIH Insurance, Australia's then 2nd largest insurance company 
b) Pasminco, the then world's largest zinc producer (to metamorphise to Zinifex thereafter)

And these would have probably been in the ASX100.

And we won't get into Bondy's Bond Corp (owner of Channel 9, Bell Group etc) and the Spalvin's Adsteam Group (owner of David Jones, Woolworths, National Foods etc) in the early 90s after the "greed is good" 80s ... they were probably ASX25 companies!

*Aghhh .... the only certainty in life is that there is no certainty!!!*

But I suppose for BMN, to make it to the ASX300 is at least recognition in the wider and greater community that it has arrived!

And who knows, by 2020, the Bannerman Group, owners of Paladin Resources and RIO Tinto (taken over as retribution over the Cazaly Resources saga) may have metamorphised into a housing estate at the request of the Namibian government ... due to an acute housing shortage caused by the continuous land grab and encroachment by the then universe's biggest ever uranium miner!!!


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## Sean K (7 September 2007)

bliimp said:


> Good point Professor!
> 
> And only recently, in 2001 the following companies went under
> 
> ...



I think PSV and BDG were up in the top 300/200 at one stage too.  BDG had 11m oz au JORC'd and several buy recommendations on it as well! Aaaaghhhhh!!! Oh, the pain. 

Having said that, I do agree it's 'normally' a good thing for a company to be included in the S&P indicies, especially up in the 200 and then 100 when institutions who have index following funds MUST buy into them. Getting into the 300 is a step in the right direction, but it's not anything to throw a party over, IMO. It IS positive though!


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## professor_frink (7 September 2007)

captjohn said:


> I see you havn't moved outa the year 2000  ....Frink !!
> 
> Did you lose $$$ on all of those ???...sounds like it !!
> 
> ...




Geez capt that's getting a bit petty.

I can understand that you are a little unhappy about not making any money for awhile with BMN, but that's not a good enough reason to make childish remarks at people participating in the thread who aren't cheerleading the company higher.

Just for the record, my post wasn't an attempt at downramping- I was merely pointing out to anyone that may be reading this thread that inclusion in the ASX300 doesn't make it a quality company by default, as there have been many companies that have made it into this index in the past that have faded away into nothing. This was not me saying that BMN will fade away into nothing like the tech companies I listed earlier.

I have never held this company, and I never will. Nothing to do with BMN- I don't trade small cap companies. No comments that I've made in this thread are an attempt to downramp this company for my own personal benefit. I resent the implication you've made, and am warning you not to make similar comments again.


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## Broadside (7 September 2007)

professor_frink, all things being equal ASX300 inclusion is good news, it enables more institutions to invest who have a mandate not to buy outside this index.  No one is suggesting all ASX300 stocks are winners, but it is unequivocal good news for holders as it opens up more buyers for the stock.

Don't see how anyone could construe it as a negative but BMN seems to attract a few knockers.  You say you will never hold this company as you don't trade small cap companies, obviously you think this will never be anything more.  You can buy this "small cap" in a few more years when it fits your own investment criteria, perhaps ASX100, reasonable PE and a dividend.  Just be prepared to pay a lot more.


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## professor_frink (7 September 2007)

Broadside said:


> professor_frink, all things being equal ASX300 inclusion is good news, it enables more institutions to invest who have a mandate not to buy outside this index.  No one is suggesting all ASX300 stocks are winners, but it is unequivocal good news for holders as it opens up more buyers for the stock.
> 
> Don't see how anyone could construe it as a negative but BMN seems to attract a few knockers.  You say you will never hold this company as you don't trade small cap companies, obviously you think this will never be anything more.  You can buy this "small cap" in a few more years when it fits your own investment criteria, perhaps ASX100, reasonable PE and a dividend.  Just be prepared to pay a lot more.




agreed Broadside, it's not a bad thing at all for BMN. I just wanted to point out that inclusion in the index didn't make it 'quality' like caleb had alluded to.

I don't know if BMN will ever become a major player and get to be a big, profitable company. My crystal ball doesn't work very well

I predominantly trade futures and options, so me stating that I won't trade this as a small cap is in comparison to companies like BHP,etc, that have active ETO markets. I'll add BMN to my trading list if I can trade options over it. If I was ever going to buy the actual share, it would be as an investment,not to trade, in which case it would need to be making a profit. Obviously I would have to pay more if I wanted to buy it at that stage.


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## kariba (7 September 2007)

Broadside said:


> all things being equal ASX300 inclusion is good news, it enables more institutions to invest who have a mandate not to buy outside this index.  No one is suggesting all ASX300 stocks are winners, but it is unequivocal good news for holders as it opens up more buyers for the stock.
> 
> Don't see how anyone could construe it as a negative but BMN seems to attract a few knockers.  You say you will never hold this company as you don't trade small cap companies, obviously you think this will never be anything more.  You can buy this "small cap" in a few more years when it fits your own investment criteria, perhaps ASX100, reasonable PE and a dividend.  Just be prepared to pay a lot more.




Nice comments Broadside 

What you say is the REALTY!! Of course the ASX300 inclusion doesn’t automatically make BMN a successful company ... comparisons to "techwrecks" & the "HIH's" are totally absurd. The need for some to constantly come on this thread and make ridiculous comparisons is is just inane!

What is the benefit?

1] There are dozens of Boutique Funds, Special Situations Funds, Small Cap Funds, and Index Funds, that WANT to invest in quality emerging uranium stocks. Come on all you "professionals" out there! How many emerging producers are there in the All Ords & the ASX300 for them to choose from?

*All Ords *= AGS; BKY; DYL; MTN ... and now, BMN
*ASX 300* = AGS; DYL ... and now BMN

2] BMN now becomes a company that brokers will consider recommending to their clients ... many will steer their clients clear of any company with no presence on the indexes.

3] BMN will now become a stock that can be purchased on CFD's by some providers

Yes, while its true that ASX inclusion is no quantitative stamp of "quality" ... it is an endorsement by the "general" market that the company, at least MC-wise, is entering elite company, and is worthy of researching & considering.

This is a massive, massive positive ... and when put together with imminent *Scoping Study *Resource upgrade *TSX listing etc ... we see a picture emerging of the next company to step into the ASX void; that is a quality Aussie uranium stock!

Cheers


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## shag (7 September 2007)

drmb said:


> The researchers' visit to Namibia is over, they have returned, and FP report is published. You'll have to be a FP subscriber to get the visit report or be nice to some one who is, to get a copy.
> 
> The latest FP report is very positive and includes statements such as ""... what this adds up to is a truly world-class uranium deposit".
> 
> ...




Fat Profits didn't grade it as a buy tho, just a hold and wait.
I was expecting more from their junket anyway.


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## bliimp (7 September 2007)

kariba said:


> Of course the ASX300 inclusion doesn’t automatically make BMN a successful company ... comparisons to "techwrecks" & the "HIH's" are totally absurd. The need for some to constantly come on this thread and make ridiculous comparisons is is just inane!




Kariba! LOL!

I have been a believer in BMN for quite some time and continue to be a believer!

If you had read my post more carefully you would have realised that I was being facetious in a light hearted manner in reponse to professor frink.

There is no need to produce a war-and-peace reponse to justify the positives of BMN's ASX300 listing.

But remember, your argument for down-ramping can be countered just as easily with an accusation of up-ramping by yourself and others in ASF and other sites.


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## Sean K (8 September 2007)

kariba said:


> What you say is the REALTY!! Of course the ASX300 inclusion doesn’t automatically make BMN a successful company ... comparisons to "techwrecks" & the "HIH's" are totally absurd. The need for some to constantly come on this thread and make ridiculous comparisons is is just inane!



kariba, as you have indicated, the comment was made that simply inclusion in the S&P300 does not make a quality company. 



professor_frink said:


> Just because it's in the ASX300 today doesn't mean that it will necessarily stay there, nor does it make it a quality company.



It doesn't really matter what the companies were that PF referred to, they were included in the S&P for a legitimate reason at the time, and they failed.

As I indicated above, previous resource companies to make the S&P300 or higher have included PSV, BDG, Sons of Gwalia, and I'm sure there are many other examples. Many who have failed for whatever reason.  

Pointing this out creates a balance for members to appreciate that there is always risk in investing, and what looks outstanding on the surface, may not hold up in the long term. 

This is not 'downramping', as some might believe, and people who have an alternate view to the quality of BMN are most welcome to post here. ASF highly encourages contructive debate and discussion on the positives, and negatives, of a company's potential. There is no need to start playing the man simply because they point out something that simply puts things in perspective. 

As I also stated above _generally _inclusion into the indicies is positive because the funds who track the indicies will have to buy it. It should also put it on the radar for more investors who only watch the index companies.


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## kariba (8 September 2007)

kennas said:


> This is not 'downramping' as some might believe
> 
> Generally inclusion into the indicies is positive because the funds who track the indicies will have to buy it. It should also put it on the radar for more investors who only watch the index companies




I agree, we need to be careful about calling every poster a "downramper" because he posts something of contrary nature to us. I actually thought the poster was more so nit-picking, or word-picking. The post was also patronizing, rather than having any constructive input ... enough said about that.

I notice SLV put out a notice regarding their inclusion in the ASX300 which sums it up:

"The S&P/ASX All Ordinaries index is Australia's premier market indicator. It represents the 500 largest companies in the Australian equities market. Index constituents are drawn from eligible companies listed on the Australian Stock Exchange. 

The S&P/ASX 300 index provides additional depth and coverage in the Australian equities market. Index constituents are drawn from eligible companies listed on the Australian Stock Exchange. 

This index is designed to address investment managers' needs to benchmark against a portfolio characterized by sufficient size and liquidity. S&P/ASX 300 is a component of the Australian indices that could be used as building blocks for portfolio construction."

cheers


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## kariba (8 September 2007)

bliimp said:


> Kariba! LOL!
> I have been a believer in BMN for quite some time and continue to be a believer!
> If you had read my post more carefully you would have realised that I was being facetious in a light hearted manner in reponse to professor frink. There is no need to produce a war-and-peace reponse to justify the positives of BMN's ASX300 listing.
> But remember, your argument for down-ramping can be countered just as easily with an accusation of up-ramping by yourself and others in ASF and other sites.




Hi Bliimp

*Firstly*: I never accused anyone of downramping ... another poster did. I just said that the comparison was "absurd" ... which it is, & I'll explain why.

*Secondly*: Lets get it all in CONTEXT shall we. This all started with a conversation between 2 posters about the URANIUM sector going through consolidation & the QUALITY ones left remaining. Then a comment made that inclusion in the ASX300 now makes it one. 

It could have been better worded, but I totally agree with that comment ... IN CONTEXT that is ... the context being that excluding PDN & ERA, BMN is now one of the top quality URANIUM STOCKS out there. Of course, Index inclusion doesnt _suddenly_ make it one, but being one of ONLY THREE inclusions in the ASX300 does now endorse & advertise these three: AGS, DYL, and now BMN as worthy of considering.

*Thirdly*: I agree with everyone that BMN and the others mentioned  now need to "come up with the goods" to prove their status as a Top-Tier uranium stock. The next six months will tell!

*Fourthly*: My post was not directed at you ... 

Have a good one

cheers


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## jj0007 (9 September 2007)

Hey guys,

Haven't been posting (or reading) much lately.  Has anyone been in touch with management regarding the Scoping Study and when we can expect it?  I think it should be coming out this month.  

Cheers.


----------



## Sean K (11 September 2007)

jj0007 said:


> Hey guys,
> 
> Haven't been posting (or reading) much lately.  Has anyone been in touch with management regarding the Scoping Study and when we can expect it?  I think it should be coming out this month.
> 
> Cheers.



It was supposed to be last month, but the company has failed to provide an update other than to apparantly tell some analysts that it will be out 'before the end of 07', along with a revised resource estimate. 

Pretty glowing Fat Profits report.


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## Sean K (11 September 2007)

This has been floating around from Far East Capital. Gives a guestimate of what BMN's scoping study may come up with except change $90 lb to $45 lb. I'd expect the next resource update to be higher than the 220 ppm in the initial one due to the recent grades, but hard to say how much higher it will go. Perhaps 250ppm.....to be conservative. Although FEC are using cash costs at 310 ppm, so maybe they know something we don't.


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## doctorj (11 September 2007)

Can anyone suggest reasons why the cash cost per lb decreases as the grade reduces? This seems counter intuitive - I would have thought cash costs would increase as the grade reduces as it would mean they have they have to process a larger amount of ore to extract the same amount of uranium.


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## Sean K (11 September 2007)

doctorj said:


> Can anyone suggest reasons why the cash cost per lb decreases as the grade reduces? This seems counter intuitive - I would have thought cash costs would increase as the grade reduces as it would mean they have they have to process a larger amount of ore to extract the same amount of uranium.



I think it's an error, and the numbers seem proportionally conservative to me. The difference between digging up ore at 220ppm and 310ppm to produce the same product would require quite a bit more time and resources I'd imagine. 

What do you think of the figures otherwise?


----------



## captjohn (11 September 2007)

*So the first years 'per share cash generated ' @  say,250 ppm  is A$540 million...... this equates to $1.99 per share presently on issue !!*
In theory  this income  from just one year alone .....yes ..  could nearly pay for the whole cost of the Mine consrtuction .....

For example ,  hypothetically ;   if they did do that , then thereafter just imagine what sort of earnings per share that would come out of this baby "cash cow"....then dividends Hmmmmm!!...Why not believe it will become a reality..  Greed is good !!


And what about F.E.Capital  suggesting (bmn  ) are  looking at *'Off-take **agreements in December*....!!I presume bmn can sell to whomever they want to ...& not come under 'Australian rules'....hmmm...must check up on that one !!

O.K. O. K .....so they will be  using $45 a pound for the scoping study..... but still seems so low considering its still 3 years until production.....

The delay in the scoping study I hope is because the extra drilling results will increase the size of the pit area (resource).....plus  bmn realise the (world) share markets are subdued,negative etc etc.....personally I know enough from FEC's figures so  they can keep it delayed for another month!!....and keep drilling, drilling, drilling !!

So guys  here's plenty of verbage for you to pick apart for a while ..hahahah....cheers, captjohn Argggghhhh!!


----------



## Sean K (11 September 2007)

captjohn said:


> *So the first years 'per share cash generated ' @  say,250 ppm  is A$540 million...... this equates to $1.99 per share presently on issue !!*



Well, for a start good capt, you will note in the assumptions that the figures are calculated on double the shares on issue. Don't need to read any further. cheers.


----------



## kariba (11 September 2007)

Hi all

Times are certainly getting VERY interesting with Bannerman. Just some comments:



kennas said:


> Well, for a start good capt, you will note in the assumptions that the figures are calculated on double the shares on issue. Don't need to read any further. cheers.




Kennas, I think our Captain is aware of that, he did say "per share *presently *on issue" ... Interesting to keep in mind that much of any Cap Raising will be at much higher prices as we approach development stage. Another 120m shares at say $3.50- $4.50 will just about cover the bulk of the CAPEX.



doctorj said:


> Can anyone suggest reasons why the cash cost per lb decreases as the grade reduces? This seems counter intuitive - I would have thought cash costs would increase as the grade reduces as it would mean they have they have to process a larger amount of ore to extract the same amount of uranium.




That is not correct doctor, in both cases the SAME amount of ore still has to be mined. In the case of lower grade then the “bulk mining” factor comes into play & reduces costs. If they have to end up processing only the higher grade portions, they lose that advantage as a lot of the higher grade ore will be at depth, so they effectively have massive tonnage to now mine & shift for NO gain. The extra $$ earned by faster processing of higher grade ore is offset by the extra costs of selective ore mining, & re-handling of any low grade which effectively becomes waste!!

The company is working their collective butt off at the moment to get everything in place by years end to be able to be in a position to enter off-take agreements in December. By then a number of variables will be cleared up, including scoping study details & VERY importantly the medium-term price of uranium. We will find that as long as they can get $45 p/lb & above for their product, then they will be fine. As sure as the Pope is Catholic, if these two factors are positive, we will see “low grade, bulk mining” the way that Bannerman goes.

As the FEC report shows, this will produce the same (actually better) scale of economies, & yet will at least DOUBLE the mine life!

Scoping study will confirm the direction

cheers


----------



## Sean K (11 September 2007)

kariba said:


> Kennas, I think our Captain is aware of that, he did say "per share *presently *on issue" ... Interesting to keep in mind that much of any Cap Raising will be at much higher prices as we approach development stage. Another 120m shares at say $3.50- $4.50 will just about cover the bulk of the CAPEX.



I'm not sure if he did actually, but we'll never know. I would assume future cap raisings will be at a higher price, and I hope around those levels, but it's a bit presumptous. Probably a fair range though.



kariba said:


> That is not correct doctor, in both cases the SAME amount of ore still has to be mined. In the case of lower grade then the “bulk mining” factor comes into play & reduces costs. If they have to end up processing only the higher grade portions, they lose that advantage as a lot of the higher grade ore will be at depth, so they effectively have massive tonnage to now mine & shift for NO gain. The extra $$ earned by faster processing of higher grade ore is offset by the extra costs of selective ore mining, & re-handling of any low grade which effectively becomes waste!!



This makes sence, but as you have said the higher grade ore is at depth, and if your own assumptions of the project are true they won't be mining that for 15-20 years. As I have assumed it will be much more expensive to be mining under the top few alaskites down to 250m+. Op ex will be much higher at these depths but as you say, offset by grade. Just how much will be the question.

Thanks for the points kariba. 

The reports that were written by the analysts on the tour were overall pretty positive. 

There's still some small questions about infrastructure including power and water. The desalination plant and power from Zambia are planned for 2009, but there's a lot of water under the bridge till then. Since Namibia are focussing on this industry so much, you'd expect them to work hard to ensure these key assets are finished on time. I'm feeling pretty comfortable with this, but it's still a risk. 

In regards to scoping study, I'm disappointed they haven't provided an update. Unless it's imminent. 

Thanks again for your reasonable and measured responses. Nice change in this thread!


----------



## Ken (12 September 2007)

I see consolidation in the short term.

Uranium is not hot at the moment. 

Not everyone understands which companies are do produce. 

But I beleive BMN is as good as any explorer.

The days of finding the next PDN at 1 cent are gone I believe.  

The days of finding the next PDN at $1-$3 are upon us.

A lot of uranium stocks will be duds, so choose wisely.


----------



## kivvygosh (12 September 2007)

> Interesting to keep in mind that much of any Cap Raising will be at much higher prices as we approach development stage. Another 120m shares at say $3.50- $4.50 will just about cover the bulk of the CAPEX.



In the FarEast report it is explained that they are including all shares and options.  Apparently the vast majority of these options are exercisable at which is obviously just a fraction of the current trading price.


----------



## kariba (13 September 2007)

kennas said:


> This makes sence, but as you have said the higher grade ore is at depth, and if your own assumptions of the project are true they won't be mining that for 15-20 years.




Hi Kennas

Looks like my presumtions might be wrong!! According to Warrick Grigor (Far East) they want to have BIG operation going of up to 4200 tpa ... that is bulk & will halve my projection!!

Will be interesting to see

cheers


----------



## Go Nuke (13 September 2007)

Is it just me, or did it look as though there are a few more buyers starting to cue up with some slightly bigger orders?

The bears still have a good grip on Uranium at the moment.
Kariba and Kennas, id just like to say that your posts prove for some very interesting reading and I personaly appriciate what you guys have to say

You guys ever thought about actually opening a mine yourselves??
Karibs you almost sound like you have a mining background...or do u secretly work for Bannerman hehe.

Thx guys.


----------



## kariba (13 September 2007)

kariba said:


> Looks like they want to have a BIG operation going of up to 4200 tpa ... that is bulk & will halve my projection!




That sounds confusing! I should say FEC seems to indicate they have a plan that is DOUBLE my production estimates, & will effectely HALVE the minelife I had in mind.

If they pull that off, BMN will indeed become a world force in uranium production.

Early days .. bring on the scoping study!

cheers


----------



## Sean K (14 September 2007)

Go Nuke said:


> Is it just me, or did it look as though there are a few more buyers starting to cue up with some slightly bigger orders?



Little increase in volume which is good. Would like to see over 500m with the sp going up! 



kariba said:


> That sounds confusing! I should say FEC seems to indicate they have a plan that is DOUBLE my production estimates, & will effectely HALVE the minelife I had in mind.



Kariba, FEC are calling for about the same production rate as Rossing aren't they? Any idea when Rossing is due to expire by the way? I think I remember 2016 for some reason, although I alsi read they were spenfing over $100m on new trucks and equipment this year also. If Rossing does start to wind down mid 2010s then RIO will surely be looking to replace it with something. Do I remember in their last reports they were talking about adding to their U assets anyway? 


Just throwing a few S&R lines around and I see a bit of an inverse H&S forming with the neck line corresponding with the downward resistance trend line. If this comes to fruition, and it breaks, we're looking at approximately a $3.30 target, which is also around what will be resistance at $3.25. Might be a bit tenuous, the downward trend is still well in tact.

Perhaps if U price turns and a very positive scoping study materialises, this will have the excuse to change direction......I wonder if a positive scoping study is factored into this already  

(I still have concerns of US market ripples though too  )


----------



## Sean K (14 September 2007)

Trading halt till Tuesday for?? 

1. Scoping Study
2. Resource Upgrade
3. Going into Administration  

Probably 1 & 2.


----------



## kariba (14 September 2007)

kennas said:


> Trading halt till Tuesday for??
> 
> 1. Scoping Study
> 2. Resource Upgrade
> ...




Kennas, LOL

Hopefully not 3!!!

Yes about Rossings output ... they had 3,700tpa last year, 4000tpa, this year, and have a max target of 4,500tpa next year ... (The Rossing plant capacity is 4,500tpa) ... So 4,200 goal for Goanikontes is world class.

Grigor says about Rossing:
"The Future Mining and Treatment Plans
a. In December 2005, the mine life was extended to 2016, with potential to go
out until 2021 (but there is widespread expectation that it could still be
operating in 2050)."  

Obviously depends on reasonable U prices because from now on they mine much lower grade ore.

I have also been watching the inverse H&S ... I didnt like the lowered right shoulder & continuing downtrend though ... however a positive announcement now could reverse everything from here on.

Well the Trading halt is exciting

We will have some answers soon!!

cheers


----------



## Sean K (14 September 2007)

kariba said:


> I have also been watching the inverse H&S ... I didnt like the lowered right shoulder & continuing downtrend though ... however a positive announcement now could reverse everything from here on.
> 
> Well the Trading halt is exciting
> 
> ...



Yes, exciting. I HATE trading halts! 

If this H&S comes off, triggered by better than expected SS, I'm never making another H&S call again! LOL


----------



## doctorj (14 September 2007)

Trading halts are bad - but try having 2 drills reach TD over a weekend 

Good luck to holders.  Hopefully it's 1&2 and not 3!


----------



## Go Nuke (14 September 2007)

Haha fingers crossed for 1 and 2

Nice to see someone thinks its good news with a buy order sitting at $2.95. (Obviously thats right now and could change)

I still think that even if it IS good news, the whole Uranium market being down will eventually bring Bannermans sp back down

Goodluck guys.


----------



## shag (14 September 2007)

anyone submit a guess at when its likely back in the market 
surely doesn't take too long to shuffle a few papers out the door.


----------



## kariba (14 September 2007)

shag said:


> anyone submit a guess at when its likely back in the market
> surely doesn't take too long to shuffle a few papers out the door.




LOL ... Its a lot more work than that!!!

They have evidently received the scoping study results, but this has to now be interpreted & then drawn up into an understandable report form. It will then need to be gone over with a fine toothed comb by the Geo etc. 

This info is now in the public domain so the company had to go into a trading halt until the report is released. With the weekend to work on it ... you would think it would be ready on Monday

cheers


----------



## jj0007 (15 September 2007)

kariba said:


> LOL ... Its a lot more work than that!!!
> 
> They have evidently received the scoping study results, but this has to now be interpreted & then drawn up into an understandable report form. It will then need to be gone over with a fine toothed comb by the Geo etc.
> 
> ...





Hi Kariba,
Is this for sure?  Are you certain that the halt is related to the release of the scoping study? 

Cheers


----------



## the barry (15 September 2007)

Sorry this is a bit long winded, but i thought it was a very interesting read. The snippet at the bottom is obviously talking about bannermans.

Dead In The Head No More 

Last week, John Borshoff, the head of Australian-quoted uranium miner Paladin Resources said, amongst other things…

The world would need "at least" 25 new uranium mines by 2020. 

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The current production of 103-million pounds of uranium a year would need to rise to 190-million pounds in 2013 and then between 230-million pounds and 250-million pounds going further forward. "These are massive requirements from an industry that has almost been dead in the head for 20 years," he said. 

Thirty-two nuclear reactors were currently under construction and proposed are another 288 reactors by 2025. "Whether or not we get the 288 reactors by 2025, is not that relevant, but what is relevant is that the growth of nuclear reactors is going to outpace the supply of uranium," he said.

Here at Fat Prophets we've long been uranium bulls. In fact, so bullish are we that we predict the uranium price will hit US$200 per pound. 

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Buying Opportunities In The Very Near Future 

Despite the share price being down around 46% from its recent peak, in our most recent coverage of the company, we rated Paladin as a hold. But what we did say is… 


Once the dust settles from the current shakeout in world financial markets, we will look for buying opportunities in the company." 

"…by no means does this change our positive fundamental view on the company…we will be watching the company for buying opportunities in the very near future." 

"Paladin Resources therefore remains in the box seat, with growing production at a time of strong (uranium) prices and little hedging. We encourage Members to remain patient."
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A High Quality Uranium Situation 


Fat Prophets Members will be aware that we have been very careful with our uranium recommendations. Despite there being dozens of uranium hopefuls quoted on the Australian Stock Exchange, we have recommended only three, one of which was Paladin Resources. 

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Here are some of the things we learnt from our trip to Namibia and our favoured uranium stock… 

We were able to gain an even better appreciation of their flagship uranium project's enormous resource potential, and a clear understanding of how the company intends to develop the deposit. 

We came away with a better understanding of Namibia. The country is safe from a personal security point of view and secure from a sovereign risk and tenure perspective. In fact, it ranks above Australia in terms of the most secure international destinations for investment. 

On our site visit we saw the current drilling program in action and met with and spoke to the company's Managing Director, who confirmed everything was on schedule. 

In summary, we came away tremendously impressed with the quality of the company's exploration work so far, and a true perspective of the sheer enormity of the resource potential of its uranium deposit.

The share price is down 47% from its recent high, yet Fat Prophets Members who bought the shares when we first recommended them will still be sitting on a very impressive 193% profit. 

But we think that's only the beginning, and only two weeks ago we told Members we are monitoring the stock closely in the coming weeks for an appropriate buying opportunity. With the shares falling 5% on Monday alone, it looks like that opportunity may be coming sooner rather than later. 
Sign up today to find out the name of this Namibian uranium miner, and to get access to the 20 or more current buy recommendations in the Fat Prophets Australasian AND Fat Prophets Mining & Resource Reports. I understand I'll get an instant discount of $200, AND get a total of 6 months extra absolutely FREE. 


Start Now


----------



## the barry (15 September 2007)

Im sure on monday the scoping study will be released, by the sound of the bit at the bottom that when it is released that phat prophets will be issuing a buy recommendation to its members. The article sums up my beliefs on the whole industry and that whilst uranium as a whole will be a winner, there are going to be very few companies which will actually take advantage of this. Bannermans I believe is one.


----------



## kariba (16 September 2007)

jj0007 said:


> Hi Kariba,
> Is this for sure?  Are you certain that the halt is related to the release of the scoping study?
> 
> Cheers




jj0007

No one can ever be certain!!  ... But I am _pretty sure _that the halt was called because the scoping study report was received around Thursday ... A trading halt would have to be called until they can release it in a proper format.

cheers


----------



## Miner (17 September 2007)

the barry said:


> Sorry this is a bit long winded, but i thought it was a very interesting read. The snippet at the bottom is obviously talking about bannermans.
> 
> Dead In The Head No More
> 
> ...




Thank a lot
Did you read the thread on Fat Prophet?
Any thing Fat Prophet says gets discounted by 50% when it reaches me.
Unless some other expert says the same i do not believe speculating on Fat Prophet.
THis is not an advise and only my own opinion.

MIner


----------



## kariba (17 September 2007)

Scoping Study released:

*SCOPING STUDY CONFIRMS POTENTIAL OF WORLD CLASS URANIUM PROJECT
• 15Mt p.a. Mining and Milling Operation*
• Target Maximum 4,000t annual U3O8 production (8.8Mlb)
• Target Minimum 2,900t annual U3O8 production (6.5Mlb)
• Operating costs of US$27.18 /lb U3O8, scope to reduce
• Operating costs include contract mining costs
• Capital Costs of <US$400m with scope to reduce
• Low risk conventional acid leach process analogous to Rössing
• Potential to optimise technology using lessons from Rössing
• ~90% metal recovery with scope to improve, short leach times
• Modular plant may allow for a Phase II expansion beyond 4,000t p.a.
• Potential to be a Top 10 producer from just the first target drilled
• Study utilises a U3O8 price of US$45/lb

*Conclusions*
• Metallurgy is analogous to Rössing, well understood and proven
• Mineralogy is analogous to Rössing, easily leachable uranium minerals
• 15Mtpa Milling operation.
• Low waste to ore stripping ratio of between 1.5:1 and 2:1 achievable
• Minimum target production is ~2,900tpa (6.5Mlb) using low estimate head grade
• Maximum target production is ~4,000tpa (8.8Mlb) for early years of production
• Plant recovery circuit will be scaled for ~4,000tpa (8.9Mlbs) production target
• Operating costs low at US$27/lb, possibility to drop further.
• Capital Costs of <US$400M are low relative to potential free cash flows
• Target commissioning late 2010, full production by mid 2011

*Summary*
The Goanikontes project has the potential to be a major producer of uranium on the world scene.
The project is ideally located close to existing uranium mines and major infrastructure within a
country that has recently been rated as the 2nd best country to explore in (Resource Stocks; 2007
World Risk Survey).


----------



## Sean K (17 September 2007)

Looks OK to me. Market obviously thinks so. BMN going up on an ann is a very nice change! LOL. 

I note the study was completed on an extrapolation of the interim JORC down to 300m and 2200m length. By my reading of it, they have used the same grades as the initial JORC, but as we know grades get better at depth. Also there is no mention of the leaching into the metasediments, which could add quite a considerable amount to the final resource like Rossing. 

I also note that on their assumptions they are projecting a mine with the potential for 8.9 m lbs a year for 10-15 years plus. That gives us an estimate (using their figures) of 88 - 132 m lbs U. I wonder if they have been conservative?

I could be wrong there, any thoughts on this?

Just Anomaly A too....

Seems to be holding gains ok after the initial spike.


----------



## drmb (17 September 2007)

After the intial spike, it seems to be just about to kiss the 200 day Simple Moving Average. Chart from expert would be appreciated!


----------



## shag (17 September 2007)

kennas said:


> Looks OK to me. Market obviously thinks so. BMN going up on an ann is a very nice change! LOL.
> 
> I note the study was completed on an extrapolation of the interim JORC down to 300m and 2200m length. By my reading of it, they have used the same grades as the initial JORC, but as we know grades get better at depth. Also there is no mention of the leaching into the metasediments, which could add quite a considerable amount to the final resource like Rossing.
> 
> ...



just what i was thinking
much less at aimed 100mlb than hartleys 160 mlb+
its certainly a bit vauge on this resource upside potential or is there none
surely they would/should mention the high grade sediment leaching material.
maybe a rushed study. whos game to give the md a call for a bit of fishing on upgrade potential?
i guess our fat profits will have another story on it wednesday report.


----------



## kariba (17 September 2007)

shag said:


> just what i was thinking
> much less at aimed 100mlb than hartleys 160 mlb+
> its certainly a bit vauge on this resource upside potential or is there none
> surely they would/should mention the high grade sediment leaching material.
> ...




Guys

The company is doing the wise thing and being conservative. Note the following:

• Accordingly the Company advised that it was *CONFIDENT* that a resource of *AT LEAST *100Mlbs of U3O8 could be established at Goanikontes Anomaly A.

• The *benchmark *target parameters that were set for the scoping study are 100M lbs U3O8 at Head Grade of 219ppm

• For the purposes of the scoping study Coffey Mining extrapolated the existing interim resource along strike and at depth so that *BASE CASE *economic modeling could be undertaken.

• Benchmark Production ~4,000tpa U308 or *8.8Mlb per annum*. 

Now they also add: *Life of Mine 12 to 15+ years *- That is: 8.8mill lbs x 12-15 …. that extrapolates to a *102mill lbs to 127mill lbs plus,* base case target

So by my reading, their conservative base is 102 million lbs … of which they are *CONFIDENT* with upside to 127 mill plus, from there.

This was a BENCHMARK for the purposes of the scoping study … and is considered a BASE CASE.

This is the best way to go IMO …. Be conservative & impress on the upside rather than the opposite .. ala: MTN today.

As regards uranium in the metasediments, they cannot include that in the Scoping Study parameters until they have definative assays .... that is all upside potential, & IMO will take the deposit past the *160 mill lb *mark if what I consider reasonable comes off.

cheers


----------



## Rafa (17 September 2007)

I agree with Kariba's comments... what we need reported is the worst case... don't like surprises, esp negative ones


----------



## DAZT49 (17 September 2007)

For all the hullaballoo the SP is pretty dissapointing. Its around the same price as it was about a month ago when we new a lot less than we do now.
People who bought in at $3.94 and all levels below must be pretty aghast.


----------



## Broadside (17 September 2007)

DAZT if you want a quick buck it may not happen...what I am now much more confident of is a medium term ride to much higher levels, even people who bought at the highs should do very nicely if they have patience.  Look at the numbers, this is a highly profitable operation even at US$45/lb and will be producing huge cash flows in about 4 years...if you can wait, you will reap the rewards.  If not, kiss them goodbye and look for a faster (but riskier) dollar.  Good luck whatever you choose.  

I am delighted at today's news as so much of the risk has been taken from the stock...if I have the funds free it will be an accumulate more on weakness job.  Personally I think it will strengthen from now on, many of the hurdles for more risk averse investors have been cleared.


----------



## DAZT49 (17 September 2007)

broady,
Have been on BMN since IPO (2 years??) so hardly after a quick buck.
The scoping study was supposed to start the fire under the SP it hasnt and it is drifting back toward the $2.25 level of a few days ago.
Now you cannot tell me that you are not dissappointed with that.


----------



## Broadside (17 September 2007)

Would I like to see the stock higher? Yes, absolutely.

Am I disappointed at today's share performance? No, I think it was pretty good.  It may be the start of a turnaround, if it isn't I will buy some more at lower levels.

DAZT, it won't happen overnight but it will happen 

Today is great news for holders if they can ride the stock for a couple of years, if you want cash now, I can see why it may be frustrating!  I originally bought around $1 pre split and then I bought more at $3.20 or so a few months ago (and then kept buying as it slid), since then the fundamentals have got even better, I am very confident we will see new highs in the next 6-12 months.  

Look how good the economics are at US$45/lb.   Then look at the economics at US$90/lb, not double profit, more like quadruple as much profit...the extra $45 is all profit....this is going to make patient shareholders a* lot *of money.


----------



## shag (17 September 2007)

smells like it was rushed to me, like when they talk of resource upgrade they talk only of new anomalies. why not say we havn't factored in the likely hot sediment material yet. for all we know its leached right to china from this much awaited report.
they must have a pretty good feel of whats at least down there by now.
i guess wait till later this year for more news.
ps its neighbour has done well today, up 6% odd.
cheers


----------



## kariba (17 September 2007)

DAZT49 said:


> The scoping study was supposed to start the fire under the SP it hasnt and it is drifting back toward the $2.25 level of a few days ago. Now you cannot tell me that you are not dissappointed with that.




LOL

Daz, your expectations are way too high!!! IMO it did start a fire under the stock, a fire that will be stoked up over the next 4 months with constant news. BUT, a fire that is also being dampened by Canadian entities intent on accumulating sock from scaredy-cat Aussie holders. The TSX listing will start off from stock bought by Haywood here on the ASX & sold for a profit on the TSX. Dont expect any ballistics until that date! But after that they will stoke the fire to a roaring furnace, I guarantee you that!!

For those that are still accumulating, or want to get in, they have a window between now & the TSX listing to get in at these cheap prices. Some very interesting times ahead! 

cheers


----------



## Broadside (17 September 2007)

kariba, I think the worst case scenario for this stock now (barring wider market meltdown which is out of anyone's control) is an opportunistic takeover.  Probably won't happen but it must be vulnerable if we don't see significant appreciation soonish.

Question:  given BMN shares directorships with Cazaly would this prejudice Rio Tinto against them?  Rio would look a good fit for BMN but maybe CAZ history says otherwise.

The company with the best knowledge of BMN's potential and its likely cost structure would be the operator of Rossing itself.


----------



## kariba (17 September 2007)

shag said:


> smells like it was rushed to me, like when they talk of resource upgrade they talk only of new anomalies. why not say we havn't factored in the likely hot sediment material yet




Shag

I dont know what you are smelling, but it aint the same stuff I am!!

BMN have always been conservative in their reporting, yet you expect them to factor in mineralized metasediments that have only been found in *ONE HOLE!!!*

That would be:
a] Extremely foolish
b] Totally opposite to their standards

This is the most bullish we will get from them:

_Whilst final annual production numbers will be borne out during the BFS, the expanding size of the resource and the likelihood that the previously reported overall resource grade of 219ppm under-states the expected final resource head-grade (due to surface depletion and the trend of increasing grade with depth) the Company has decided to target maximum production of ~4,000tpa U308 for a significant number of years at Goanikontes._

As to the scoping study being "rushed" and "vague" ... all I can say is you must be joking!!!

cheers


----------



## Go Nuke (17 September 2007)

Well we all know that they have the ability to expand their resource with all the other annomolies nearby that *haven't* been explored yet, keep that in mind.

I guess I was happy about the report, at least the sp went UP for a change with news rather than down like BMN usually does
Though Im not suprised to see the sp come down over the day. I think alot of people are still pretty pesimistic about Uranium and I predict that we could just see the share price move sideways for awhile... In fact I wouldn't be at all suprised if it went down further.

The U sentiment just hasn't really returned yet.

And yes DAZT49, im one of those people that topped up at $3.40ish and am still holding and paying off the interest on that mistake!
But long term I'm still very confident about Bannerman going into production and I too cant wait for the TSX listing to help the sp along.


----------



## shag (18 September 2007)

kariba said:


> Shag
> 
> I dont know what you are smelling, but it aint the same stuff I am!!
> 
> ...



i didnt say factor in i meant at least note it when talking of upscale potential for anomally a
they must have good feeling of whats down there, drilling is just one one source of info, drilling is obviously the best bar mining the thing obviously
i'd just like more info but it does seem theres alot of the stuff there in their tenent anyway
i've actually done one or two of these asessments in engineering geology, back in the dim ages tho
when is the canada listing



http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=27175&sn=Detail


----------



## kariba (18 September 2007)

shag said:


> i didnt say factor in i meant at least note it when talking of upscale potential for anomally a
> they must have good feeling of whats down there, drilling is just one one source of info, drilling is obviously the best bar mining the thing obviously
> i'd just like more info but it does seem theres alot of the stuff there in their tenent anyway
> i've actually done one or two of these asessments in engineering geology, back in the dim ages tho
> when is the canada listing




Knowing their past form, I am not surprised that havent touched on this in the Scoping Study ... they will no doubt keep us informed as it unfolds

The TSX listing was last mentioned as late Oct ... should be our next piece of news

cheers


----------



## Sean K (19 September 2007)

Technically, we're at an important juncture IMO. It needs to hold above these two old resistance lines (now support - in blue) and make its way through resistance between $2.50 and $2.75. I'd expect some consolidation here because of this, and anticipate the new support to hold, but who knows with this yo yo market.


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## DAZT49 (19 September 2007)

kennas,
Nice to see it above that long term downtrend line.
Heres one of my triangles, taking into account last three days (including today to this point.)
Resistance $2.50 ,rising lows, falling volumes= breakout to height of the triangle. Gives a rise to $2.68.
All IMO of course.
cjheers
daz


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## shag (19 September 2007)

kariba said:


> LOL
> 
> Daz, your expectations are way too high!!! IMO it did start a fire under the stock, a fire that will be stoked up over the next 4 months with constant news. BUT, a fire that is also being dampened by Canadian entities intent on accumulating sock from scaredy-cat Aussie holders. The TSX listing will start off from stock bought by Haywood here on the ASX & sold for a profit on the TSX. Dont expect any ballistics until that date! But after that they will stoke the fire to a roaring furnace, I guarantee you that!!
> 
> ...



bl..dy fires gone out totally today
such a good day on rest bhp breaking 40, pdn past 7 again
bmn nothing
i'll wait, but i hope they find some more wood or better, coal for that furnace....
ps kennas what do u think of pdn, i'm still holding base shares plus warrants obviously....broken out like agm......
cheers shag


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## DAZT49 (19 September 2007)

shag,
when the DOW went up 340points o/night I thought BMN would get sucked along with it. ASX200 up 163points too. As you say BHP,PDN etc etc all up.
BMN sitting on its hands
That big gap opening on Monday really is starting to hurt, IMO tomorrow will be lower again, maybe back to the oldish $2.25 support level.


----------



## BSD (19 September 2007)

I know that many disagree, but having run some numbers based on the Scoping Study - I still think BMN is fully valued at current levels. 

It has many appealing features, but the upside value associated with the optionality on future expansion is so-far in the future, only a takeover would appear to me to provide a real boost to the share price. 

The reality of a 2011 production date is setting in. 

I used a minelife U308 price of $60lb and didnt get an NPV above $3. 

A company with so much to do should trade at a substantial discount to NAV.  

Good company - too expensive.


----------



## kariba (19 September 2007)

BSD said:


> The reality of a 2011 production date is setting in.
> 
> I used a minelife U308 price of $60lb and didnt get an NPV above $3.
> 
> ...




You're right BSD, I pretty much disagree with everything you say!



BSD said:


> I used a minelife U308 price of $60lb and didnt get an NPV above $3..




So lets see:

Base case 6,612,000 lbs p/a production  
(3000t) @ A$68.00 p/lb = A$449,616,000.00 p/a
minus costs @ A$31.00 p/lb = $204,972,000.00 p/a
That makes annual profit of = $244,644,000.00 p/a

And with 150,000,000 shares you come up with NPV of $3


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## BSD (19 September 2007)

If you think BMN will have 150m shares on issue at production after financing a $400m capex bill and a BFS you will certainly be able to get something exceeding $3. 

But you may also be deluding yourself. 

I would also hazard using the quoted capex and operating costs in any conservative model. 

I used a 15% discount for safety too.

Even if I got an NPV of $5.00 - I wouldn't pay more than $2.50 at such an early stage. 

What % of NAV do you think BMN should trade at as an unfinanced, pre-feasibility stage project in Namibia?


----------



## drmb (19 September 2007)

BSD said:


> Even if I got an NPV of $5.00 - I wouldn't pay more than $2.50 at such an early stage.



You wouldn't, but it seems that there may be others who will! The U spot has apaprently gone down to 85/lb but I think with what is gearing up next year plus reports in Carmichaels, Huntleys, and FP, many otehrs may pay more. See also my posting on Uranium re the articles in last weeks The economist. Each to his own!


----------



## BSD (19 September 2007)

drmb said:


> You wouldn't, but it seems that there may be others who will! The U spot has apaprently gone down to 85/lb but I think with what is gearing up next year plus reports in Carmichaels, Huntleys, and FP, many otehrs may pay more. See also my posting on Uranium re the articles in last weeks The economist. Each to his own!




Exactly and well they might. 

Just giving my interpretation as to why this stock isn't living up to the expectations of some on this thread. 

I would also add that Carmichaels, Huntley and Fat Prophets aren't exactly market-moving investment houses.


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## kariba (20 September 2007)

BSD said:


> If you think BMN will have 150m shares on issue at production after financing a $400m capex bill and a BFS you will certainly be able to get something exceeding $3.
> 
> But you may also be deluding yourself.
> 
> ...





LOL

Of course they will have more shares on issue ... thats a given. But we are talking about their value NOW

In regard to operating costs, the figure of $27 is BASE CASE ... the company is starting conservative & state that 3 further initiatives will reduce that to $24 p/lb and further ... also the 3000t is BASE CASE ... the target is 4000t ... AND, then to have a phase 2 increase of production via modular processing

And yes you are right ... once Haywood have finished their current capping & buy-up of Aussie stock for TSX listing .. you definately WONT be paying $2.50 a share ... you'll need to fork out a hell of a lot more!!

But by then it will definately be too dear for you

No ...  best bet is to just leave BMN alone I reckon


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## doctorj (20 September 2007)

kariba said:


> Of course they will have more shares on issue ... thats a given. But we are talking about their value NOW



Sorry, that's bollocks.  I don't mean to sound abrupt, but that post was disappointing in that it was far below the (high) standard you've set yourself until now.  

You can't value the revenue stream of a project without considering how it's financed.  We know that its going to cost around $400m (or more) in capex - either they raise it by debt or equity, either way will have an impact on valuation.  You have to consider how they'll fund capex and factor it on or you're only looking at half the picture.


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## doctorj (20 September 2007)

FWIW, I thought I'd paste my quick and dirty model. At the moment, the NPV you get out depends largely on the grade and uranium price... 

My matrix model (will post if anyone is interested) gives a NPV/Share of between $0.83 and $11.20 per share depending on which grade and uranium price you use within the range. The median NPV/share is *$5.72* and the average is *$5.80*. 

It uses the following assumptions: 

*Production* 
Opex 27.18 per lb
Capex 400,000,000 
Recovery 90% 
Life 12 years
Mill Throughput 15,000,000 tpa
Grade Min 219 ppm
Grade Max 300 ppm
Uranium Price Min $50 /lb
Uranium Price Max $100 /lb

*Model Assumptions* 
Discount Rate 15% 
Shares on Issue 150,000,000 
Safety Margin 15% 
Issue Price $3.00 
Exchange Rate $0.85 
Company Tax 30%
Depreciation Charge 8.33% (based on 1/mine life)

It currently assumes the capex will be raised 100% by equity and does not currently allow for royalties (if any... I'm not sure what they are).


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## shag (20 September 2007)

our fat profits have done the usual wrightup this week. don't call it a buy, just gloat on how cheap they suggested buying in at, way back in the dim ages.
do talk slightly interesting talk of reource upgrade in anomally a of 130mlb plus, and just one of several similar groups as we all know by now.


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## kariba (20 September 2007)

Good figures DJ

My comment is taken out of context, (or I didnt phrase is correctly)

The question posed is BMN overpriced NOW .. my answer is NO ... however should U prices keep dropping & sector sentiment totally evaporate then it will struggle, as will all.

If BMN get to production of 4000t p/a .. then we wont be seeing sub-$10 prices.

So it comes down to risk/reward

cheers


----------



## doctorj (20 September 2007)

kariba said:


> If BMN get to production of 4000t p/a .. then we wont be seeing sub-$10 prices.



Increasing production with minimal incremental capex will help the valuation as you'll be reducing the impact of depreciation/amortisation per lb of uranium, but I disagree that $10+ would be a certainty.  I'll run the figures through the model this evening, but grade/uranium price is still the largest variable affecting the valuation.  Gut feel is maybe or dollar or so on the average valuation...

Some questions to help improve the model
- What royalties and local taxes will there be on production?
- Does the capex figure include waste?  (From an accounting perspective, waste removal can be capitalised, but in a finance world it's seldom included)


kariba said:


> So it comes down to risk/reward



I guess this is the crux of BSD's point.  What discount do you demand of this kind of project this number of years away? Really, its an individual thing, some people have higher tolerances for risk than others.  The market will find a happy median.


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## Ken (20 September 2007)

There are big beliefs that BMN is a double digit stock.


The market perception can be misleading.

I hold only because logic tells me this stock will be worth more when producing than as an explorer.


I think they will produce at some point, so I am paying for that risk now.

What it gets to I dont know. I think they will get taken over if the numbers stack up.


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## doctorj (21 September 2007)

doctorj said:


> I'll run the figures through the model this evening, but grade/uranium price is still the largest variable affecting the valuation. Gut feel is maybe or dollar or so on the average valuation...



Increased productions to kariba's upside target with a 15% increase in capex and the matrix spat out the following:
Min NPV/Share  $1.09
Max NPV/Share  $13.11
Median  $6.75
Average  $6.84


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## voigtstr (21 September 2007)

doctorj said:


> Increased productions to kariba's upside target with a 15% increase in capex and the matrix spat out the following:
> Min NPV/Share  $1.09
> Max NPV/Share  $13.11
> Median  $6.75
> Average  $6.84




So at 2.37 currently they are a good buy?  Is there any way to guage the likelihood that they will be able to carry through to production? They say full production by mid 2011 but what sort of things can go wrong in the meantime? Are there other exploration companies that I could compare BMN to that failed to reach production stage and closed up shop?

Also if anyone subscribes to fat prophets, What is their current recommendation on BMN, or are they just keeping a close eye on it?


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## Sean K (21 September 2007)

voigtstr said:


> So at 2.37 currently they are a good buy?  Is there any way to guage the likelihood that they will be able to carry through to production? They say full production by mid 2011 but what sort of things can go wrong in the meantime? Are there other exploration companies that I could compare BMN to that failed to reach production stage and closed up shop?
> 
> Also if anyone subscribes to fat prophets, What is their current recommendation on BMN, or are they just keeping a close eye on it?



We should try and stay clear of any 'buy' recommendations voigststr. It's against ASIC regs and ASF policy. It's best just to stick to valuations and whether something may be 'undervalued' or have 'great potential' or something vague like that.

On the figures presented it would seem to be undervalued, but as has been pointed out, the discount for the time to production needs to be considered. The question is how much of a discount that should be. 

It's hard to put a % chance on this of mining, but you'd have to say somewhere close to 100%, but there are risks.

They are:

**Uranium price falling through the floor making it uneconomical. Extremely unlikely. The only thing that might cause this will be a major nuclear disaster, somehow stopping the use of reactors, or future development. Price may come off if some of the major mines dramatically increase production, and/or if Cigar Lake gets on line much quicker than expected. The last supply/demand curve I saw still looks like uranium deficit for years, thus supporting the price of U. 
**The water desalination plant not being constructed. Very unlikely. Unsure of the likelihood of delays..
**Power not coming in from Zambia. Very unlikely, construction has already started. Maybe delays here to? 
   - The above two are not war stoppers in my opinion. I think if neither come through other solutions will be found.
**A grose error has been made in the resource estimation to date and/or drill results have been fabricated.  

Can't think of anything else at the moment.

So, IMO, close to 100% that it will mine, but I hate using certainties so let's discount one percent for each of the above realistic points. 97%.


----------



## doctorj (21 September 2007)

voigtstr said:


> So at 2.37 currently they are a good buy?



Like I said in a previous post, it depends what discount you demand for the risk inherent in the project/country/market/time until they mine etc etc. And of course what your own modeling shows them to be worth.  I share that for *educational and discussion purposes only*.

eg. Kennas reckons they have a 97% chance to getting to mine, so he may be comfortable buying.  I might side more with BSD and demand a higher premium because I don't think things are quite so certain.  Perhaps a discount of 2-300%?


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## Sean K (21 September 2007)

doctorj said:


> eg. Kennas reckons they have a 97% chance to getting to mine, so he may be comfortable buying.  I might side more with BSD and demand a higher premium because I don't think things are quite so certain.  Perhaps a discount of 2-300%?



I am biased as well as I own the stock. You can never be totally objective when $$s are on the line IMO. (PS, unless you're a mechanical trader)

Also, while I am sure they will be a miner, I have at no time said exactly what price they should be valued at because there is still a lot of uncertainty up to production. With what I have seen however, I think a current market cap of $350m ish, has some room to move. Even if they double the shares on issue to get the financing to production, a market cap of $700m looks cheap for something with 100m lbs ++, just at Anomaly A.


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## Broadside (21 September 2007)

The economics of the scoping study look robust and there will be plenty of margin even should U price weaken further, anything above US$50 and it still looks very good (for my risk tolerance).  I believe when they are in production U price will be well north of this, but the scoping study gave me confidence they can produce at a much lower price than current spot.  The X factor is the further exploration upside, I believe they have merely scratched the surface of the total resource when you consider the potential of the other anomalies.

So this satisfies my criteria - very good value based on scoping study, stronger U prices medium term, excellent exploration upside.

PS  I view holders having a free option on further exploration success, at current share price.


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## Go Nuke (21 September 2007)

Lets just hope that Bannerman sees the same results as Lihir Gold did the other day when they started trading on the TSX

Yes I know the POG is also a factor, but its just an encouraging thought to think BMN could do likewise


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## DAZT49 (21 September 2007)

The u price has obviously had a bid effect on the SP with current
U price $85/k. 
What will move the price up,given that the US fed has already dropped the prime rate and the Dow has responded.
Are the Russions still chewing on there stockpile?
Gotta tell ya's.. I caught my favorite band Steely Dan in Melb last night..sensational


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## shag (21 September 2007)

DAZT49 said:


> The u price has obviously had a bid effect on the SP with current
> U price $85/k.
> What will move the price up,given that the US fed has already dropped the prime rate and the Dow has responded.
> Are the Russions still chewing on there stockpile?
> Gotta tell ya's.. I caught my favorite band Steely Dan in Melb last night..sensational



ruscos still chewing on their stockpile, but not for much longer i thought i read
they may decide to keep more now a bit richer and with geopolitical changes....
good article on how many experts predict the spot has found bottom today
shag


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## Sean K (26 September 2007)

Chart review. I'm waiting for a confirmed break up to top up. Breaking $2.50 may be enough for me, but $2.75 for sure. $2.50 looks imminent, but BMN hasn't ceased to disappoint the past 6 months....


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## DAZT49 (26 September 2007)

Chris,
Is your reverse H & S still in play?
A couple of points over the $2.62 of 17/9 looks like a good entry.


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## Sean K (26 September 2007)

DAZT49 said:


> Chris,
> Is your reverse H & S still in play?
> A couple of points over the $2.62 of 17/9 looks like a good entry.



Hooly dooly, I've just been called Chris? What the? .... :goodnight

Perhaps that was a slip up Daz?


----------



## Logique (26 September 2007)

Kennas, 
I would go along with that. BMN and PDN charts look very similar. BMN holding above 2.50 people should start to believe the downtrend has been broken. Technically speaking, but as more of a potential turnaround, MTN should start to attract interest from here also.

As PDN goes, so I believe the others will follow. For people who like the fundamental story with these particular uranium stocks, now is not the time to take your eye off them.


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## DAZT49 (26 September 2007)

kennas,
Sorry..freudian slip?? lol
I do speak to your old sparring partner now and again over on the dark side.
Yes BMN has been very disappointing,dont know what has caused the flutter this am but I am sure it will be "as usual" this arvo and probably finish in the red.


----------



## Sean K (26 September 2007)

DAZT49 said:


> kennas,
> Sorry..freudian slip?? lol.



 I bet the BMN band of brickheads are going bananas over there due to 350K shares traded so far. Probably 100 posts on a blip....LOL


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## DAZT49 (26 September 2007)

The boys are certainly happy this morning.
Check out the course of sales this morning..weird, these trades must be online or the brokers would be making a fortune(as they do anyway).
The gap opening is, as always, a concern hope it can hang on to most of the gains at close of play.


----------



## Yeti (26 September 2007)

kennas said:


> I bet the BMN band of brickheads are going bananas over there due to 350K shares traded so far. Probably 100 posts on a blip....LOL




Hey Kennas,

Usually appreciate your posts. And you're in a very enviable part of the world. Was in Ecuador last year and loved it. So you had a bit of a difference of opinion with Chris. Does not make all of us on "the other BMN" thread brickheads though. And DAZT, which side is the dark side is just a matter of viewpoint isn't it. BMN having a good day, hope it continues. Good luck to all.


----------



## Sean K (26 September 2007)

DAZT49 said:


> the boys are certainly happy this morning.
> Check out the course of sales this morning..wierd, these trades must be online or the brokers would be making a fortune(as they do anyway).
> The gap opening is ,as always, a concern hope it can hang on to most of the gains at close of play.



My wish would be for the 250 to hold, but just holding above 225 is good for now. The course of sales is rediculous. Who's buying? Year 9 students with their pocket money? 

Makes me wonder about capping conspiracy theories.....


----------



## DAZT49 (26 September 2007)

yeti,
we all have a dark side lol I thought Darth had some good points and Luke wasnt as pure as we all thought.
Seriously I like to post on both sides, all in the same boat really, and its healthy that it gets rocked now and again.


----------



## shag (26 September 2007)

its nearly there kennas, at 2.64 intraday on reasonable volume.
hopefully the start of a decent run rather than usual ending each day in a nasty red colour.


----------



## Sean K (26 September 2007)

Yeti said:


> Hey Kennas,
> Does not make all of us on "the other BMN" thread brickheads though.



Aplogies Yeti, but the BMNBoBH is an exclusive group....only 4 or 5 members...No difference of opinion either. Just trying to remain objective, uphold some basic standards, and not take advantage of any new investors. All the best! kennas


----------



## Broadside (26 September 2007)

Just enjoy the ride kennas, it was patently obvious how cheap it was, especially after the scoping study came out.



kennas said:


> The course of sales is rediculous. Who's buying? Year 9 students with their pocket money?




I didn't hear that complaint when it was sold down on low volume.


----------



## kariba (26 September 2007)

Well well well!!

A very nice day for holders. Some profits taken trough the afternoon as well! (None by me Well done to those.

The robot trading turned around from a seller over recent weeks, to a buyer today. Looks like our big buyer(s) are set.

Hard to call this from here on, but as I have posted, positive sentiment will see BMN trade far above our technical calculations & limits. Goanikontes is a truly world-class project that has only just started to be recognized.

cheers to all


----------



## Go Nuke (26 September 2007)

Yes very good to see BMN up today.

This could be way out there, but I saw an interesting interview on CNBC this morning with the CEO of a company in the U.S called PPL.

I'll post the link to the video if thats ok. It only goes for about 5mins.

PPL uses nuclear power stations (70% of their business)
He believes that nuclear is yet to breakout but will.

Just thought people might find what he has to say interesting, even if it does relate mainly to the U.S.

http://www.cnbc.com/id/15840232?video=530668584&play=1


----------



## Sean K (27 September 2007)

kariba said:


> positive sentiment will see BMN trade far above our technical calculations & limits.



What do you mean by this kariba? Far above your fundamental analysis? I think you're referring to t/a, but it seems very obvious to me that BMN is responding fairly consistantly to support and resistance lines. It's been restricted, or respected, the downward trend lines for 6 months until last week. Now, what we want to see is it respect support lines (limited to going up) on an upward trajectory. Cracking 2.25 was probably the most important thing for BMN and having that then confirmed as support was very very important in establishing an upward trend. Otherwise it was at risk of falling way back. Likewise, with 2.50 and 2.75. All I want to see now is 2.50 proved as support. It will break through resistance lines on the way back up, but you'd expect plenty of consolidation on the way for a 'healthy' advance. Interesting that it's paused right on a resistance line...All just probabilities of course. This latest move through the 200d ma is another good sign. Indicators look pretty bullish. Anyway, I'm probably rambling to the converted.  Nothing's certain though....


----------



## DAZT49 (27 September 2007)

On my chart it is a bit of a mixture, bollinger bands have squeezed with a resultant breakout to the upside.
RSI is overcooked in the mid 80's.(Tho it must be said that low, choppy volumes of BMN mean that RSI is not really a reliable guide to momentum.) 
We have a Ross Hook at $3.95.
A breakout of $3.95 will confirm the upward trend.
I see some resistance at the $3 and $3.19 mark (not on this chart but on the 4 monthly chart.)
All in all,looking a lot rosier than of late.
IMO


----------



## Yeti (27 September 2007)

DAZT49 said:


> We have a Ross Hook at $3.95.
> A breakout of $3.95 will confirm the upward trend.
> IMO




Can't see this Ross Hook of yours at $3.95, just empty space on my chart  Prophetic words, just give it a little time.


----------



## DAZT49 (27 September 2007)

yeti,
My chart was updated at 11.20am this morning, sounds like yours is a daily chart ie you last entry was yesterday.


----------



## DAZT49 (27 September 2007)

I may have been a bit premature nominating the hook, but I took a stab at todays action ie main action has already happened.
Most share action happens in the first 20 mins after opening.


----------



## kariba (27 September 2007)

kennas said:


> What do you mean by this kariba?




Kennas, when I said:

“positive sentiment will see BMN trade far above _our _technical calculations & limit”

I was being kind by using the word OUR. I really was meaning some of the figures being touted around this forum. Certainly not mine, I am far more optimistic..

Example:
“I used a minelife U308 price of $60lb and didnt get an NPV above $3. …. Good company - too expensive.”

“Even if I got an NPV of $5.00 - I wouldn't pay more than $2.50 at such an early stage.”

Etc etc

My point was that all these opinions are moot if and when positive sentiment returns to the stock & the sector – Both of these are happening now IMO

cheers


----------



## drmb (28 September 2007)

BSD said:


> ... Even if I got an NPV of $5.00 - I wouldn't pay more than $2.50 at such an early stage.




Hmmmmm. Many now prepared to pay >2.90, closed today 2.900 2.930 2.930 0.090 3.17 2.950 2.960 2.890 405,248   

I hold this and PDN as long term. My charting skills not so good but attached seems to me comfortably crossed the 200 ma, RSI up strongly and MACD crossed and in positive territory.

I guess the market is always right and the market is what determines what "value" to place on any particular stock at any particular time


----------



## Ken (28 September 2007)

I am up 45% in three weeks.

Is this sustainable???

I only bought a few so I am holding but if I had 10000 shares instead of 1000 shares I probably would have sold.


----------



## Sean K (28 September 2007)

drmb said:


> .......seems to me comfortably crossed the 200 ma, RSI up strongly and MACD crossed and in positive territory.
> 
> I guess the market is always right and the market is what determines what "value" to place on any particular stock at any particular time



Yes, holding above 200d ma is very positive and to me means it's on a new path. If you are trading it, watch for RSI to break up through 80 for overbought signal. And yes, market will always 'value' a stock how it wants but it also almost invariably under and overshoots. In the long run a median will be found. 


Ken said:


> I am up 45% in three weeks.
> 
> Is this sustainable???
> 
> I only bought a few so I am holding but if I had 10000 shares instead of 1000 shares I probably would have sold.



Nothing goes up in a straight line of course Ken, so we should all be wary and expect consolidation at some point, for this to be a 'healthy' rise. It did fall a very long way though, so while it's under the past high I think the market may allow it to move pretty quick, which it has of course. If POU comes off further this may be effected, but if it revives then it should be well supported. Let's not also discount the effect of the overall market in this. We're breaking all time highs and punter's appetite for risk has returned. 50% of this move could be attributed to that (one theory of market movements), so if the market comes off, this probably will as well. I'm holding a few more than you but am happy to keep holding at this stage, pending overall market behaviour. I'll probably be buying more on any pullpack to support, or significant breakthrough, which next may be $3.00 ish and then $3.25 ish. Each to their own of course....


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## drmb (3 October 2007)

Uranium spot down USD10/lb to USD75/lb (according to http://uranium.info/) but BMN seems to be on the rise, seems comfortably above 3.00, with positive indicators. MACD crossed, RSI heading up to 80. Closed yeasterday 3.07, +0.16  +5.50%, Open: 2.92 High: 3.11 Low: 2.90 Volume: 624,200 (high for this stock)


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## DAZT49 (3 October 2007)

My interpretation on the chart atm.. 
We are in an obvious uptrend since 13th Sept.
We are on the 4th day of consolidaton,from the 33c rise on Wed 26th.
We are looking for an open and close above $2.95 to break out of consolidation, and continue the upward trend.
We have a small ascending triangle of rising lows/resistance and lower volumes. This indicates a short term rise to $3.28 with some resistance at $3.20.
All IMO as usual.


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## Sean K (5 October 2007)

Funnymentals no change (except market cap larger...) so maybe time for a chart update:


Still holding above 200d ma, so ok.

Seeing some consolidation which is good.

POU off and this came off a little, but not much. Wonder when U is going to turn around. 

I bought a couple more on what I thought was the break through $3.00, but it failed. I should have waited till it was confimed on a follow through day I suppose. I've learnt that lesson before....damn it!  LOL 

Since it's failed at $3.00 this creates a little more resistance at this point. Would like it to break through shortly, or this may be a future sticking point. 

Now I would expect horizontal support around $2.75, the gap up over $2.75, the upward trend line, and 200d ma to provide support. Fairly high probability it should hold there with all these conspiring, although my concern is the rapid rise and possibility of US market tremours. Looks to be good support at $2.50 if $2.75 doesn't play the game.


Having said the above, I am less concerned about short term chart movements with this company now. The fundamentals now seem fairly robust, even without a final resource estimate. The only risk may be the expectations of a potential 100m lbs + resource not coming to fruition. While that may be a possibility at Anomaly A, they do have the rest of their tenaments to keep increasing their overall resource base. So considering that, any short term upsets could be considered long term opportunities.


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## insider (9 October 2007)

Well Kennas's assumptions seem to be unfolding well.... In my opinion 3.75 may hold today before moving up again


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## drmb (9 October 2007)

insider said:


> Well Kennas's assumptions seem to be unfolding well.... In my opinion 3.75 may hold today before moving up again




If 3.75 holds at the end of the day it will be AMAZ'G. Hopefully we will see 2.75 hold or higher. Some profit taking taking place wrt the last ann and analyst's reports I think may see it down again.


----------



## Yeti (9 October 2007)

Love how BMN keeps getting quoted at $1 higher than it really is. DAZT did this in post 2429, and now Insider. You guys are obviously looking into the (near) future


----------



## insider (9 October 2007)

Yeti said:


> Love how BMN keeps getting quoted at $1 higher than it really is. DAZT did this in post 2429, and now Insider. You guys are obviously looking into the (near) future




ooops sorry...............  Its cos of MTN.......... I don't know what Dazt's excuse is..............


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## DAZT49 (9 October 2007)

yeti,
took you a while to pull me up on that one, i am suprised no one else did, lol
Could have been in kiwi dollars lol


----------



## drmb (9 October 2007)

DAZT49 said:


> yeti,
> took you a while to pull me up on that one, i am suprised no one else did, lol
> Could have been in kiwi dollars lol




Has held 2.75 quite comfortably and stayed above the 200MA. It seems to be playng a push-pull with PDN. When PDN goes down BMN seems to be going up. I think the Olympic dam issue is making the PDN holders a little twitchy but this seems to be not affecting BMN, I hope!


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## Yeti (9 October 2007)

DAZT49 said:


> yeti,
> took you a while to pull me up on that one, i am suprised no one else did, lol
> Could have been in kiwi dollars lol




Didn't take that long DAZT, read post no 2430 again 

Here it is: "Can't see this Ross Hook of yours at $3.95, just empty space on my chart  Prophetic words, just give it a little time."


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## DAZT49 (9 October 2007)

Yeti,
I will quite happily take the kudos for my typo when the SP goes thru $3.95.
Ok revision time (9 days later)
We still have to open and close above $2.95 (with no gap up) and overcome resistance at $3.09, however, this does not constitute a continuation of the up trend as before, but certainly a sign that we have a breakout of the congestion of the last 10 days.
All IMO
Phew!!


----------



## Yeti (10 October 2007)

drmb said:


> It seems to be playng a push-pull with PDN. When PDN goes down BMN seems to be going up.




I've held both BMN and PDN off and on for over a year now and have noticed the same thing. I would say that at least seven out of ten times they move in opposite directions. Never been able to figure out why.


----------



## the barry (11 October 2007)

BMN up .25 cents to $3.03 on small volume of 113,690. Interesting. Any thoughts people?...............


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## DAZT49 (11 October 2007)

I dont know...but I like it.
Nice to see we got thru the $2.95 barrier and tested the next resistance at $3.08.
What we need (tomorrow?) is an open and close above $2.95 and then, hopefully we will have a bit of a rally on our hands
IMO


----------



## shag (11 October 2007)

the barry said:


> BMN up .25 cents to $3.03 on small volume of 113,690. Interesting. Any thoughts people?...............




i noticed the small volume too, usually 300k i thought.
i'm nearly tempted to sell my pdn and buy up large in them, the way the sp is going.


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## DAZT49 (11 October 2007)

kennas,
On the 3 monthly chart, was that a reverse head and shoulder pattern with the head on the 19th Aug.??
Can you draw that up properly and post it if it is??
cheers
daz


----------



## DAZT49 (11 October 2007)

DAZT49 said:


> I dont know...but I like it.
> Nice to see we got thru the $2.95 barrier and tested the next resistance at $3.08.
> What we need (tomorrow?) is an open and close above $2.95 and then, hopefully we will have a bit of a rally on our hands
> IMO



Well, it was a nice ride today but the demon $2.95 has returned, hopefully this time as support. Unfortunately to open above $2.95 tomorrow means we will have to have a gap opening, not ideal, but if it is small enough it may be ok.


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## Sean K (11 October 2007)

DAZT49 said:


> kennas,
> On the 3 monthly chart, was that a reverse head and shoulder pattern with the head on the 19th Aug.??
> Can you draw that up properly and post it if it is??
> cheers
> daz



Yes, posted it up on 14 Sep:

https://www.aussiestockforums.com/forums/showpost.php?p=201875&postcount=2358


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## kariba (12 October 2007)

Hi all

Great report from PAYDIRT on the BMN website:

http://www.paydirt.com.au/mags/paydirt.htm

Just click the "Cover Story" link

They confrim some of the points I have made before; Some quotes:

1] "We had indications previously that the market wanted to see some numbers and we wanted something ourselves for scoping studies, so we released [an interim resource]"

2] "There’s been a hell of a lot of confusion in Australia between Paladin’s Langer Heinrich-style mineralisation and what we are trying to exploit. With primary mineralisation in granite, everything is different. These are bulk tonnage, economic grade, not low-grade, deposits.”

3] "The market is coming round to understanding that you have to compare this project to Rössing, not Langer Heinrich. I think the brokers now understand what we have got; it is just a matter of convincing the investors."

This is interesting:

"We were expecting [drilling to] 300m and extended that down to 375m.” Bannerman has now decided to drill to a final depth of 400m."

And finally:

“I think you will see a significant re-rating following our TSX listing and our resource upgrade. "


----------



## the barry (13 October 2007)

kariba said:


> Hi all
> 
> Great report from PAYDIRT on the BMN website:
> 
> ...





Anyone care to take a punt on the final size of the resource now that they are drilling to 400 meters instead of 300 meters? Must have been encouraged by what they found at depth. Does anyone know if they are still aiming to release it in december or has that been pushed back now that they are drilling deeper? Thanks for the info kariba, looking better by the day.


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## Sean K (14 October 2007)

the barry said:


> Anyone care to take a punt on the final size of the resource now that they are drilling to 400 meters instead of 300 meters? Must have been encouraged by what they found at depth. Does anyone know if they are still aiming to release it in december or has that been pushed back now that they are drilling deeper? Thanks for the info kariba, looking better by the day.




For the SS, Coffey extrapolated the resource to 350m depth and 2200m length for the 100M lbs, but used the interim resource grade, which we know is better at depth, so a few more pounds probably. Hopefully the mineralisation runs into the sediments as with Rossing, which could push the final resource up much higher. That may be a surprise to the upside. 

By the end of the year they will have still only drilled to 300m but the drilling program should take the resource to Indicated allowing them to tender for a BFS. They won't start drilling to 400m till then. So, looks like next upgrade won't be the last. They're now planning on a final resource by end first qtr 2008. 

Batten is pretty confident the TSX listing and the resource upgrade will be cause for re-rating. 

The entire Paydirt article.

Looks like $2.75 held which is nice. $3.00 forming up as some resistance...


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## the barry (14 October 2007)

kennas said:


> For the SS, Coffey extrapolated the resource to 350m depth and 2200m length for the 100M lbs, but used the interim resource grade, which we know is better at depth, so a few more pounds probably. Hopefully the mineralisation runs into the sediments as with Rossing, which could push the final resource up much higher. That may be a surprise to the upside.
> 
> By the end of the year they will have still only drilled to 300m but the drilling program should take the resource to Indicated allowing them to tender for a BFS. They won't start drilling to 400m till then. So, looks like next upgrade won't be the last. They're now planning on a final resource by end first qtr 2008.
> 
> ...




Thanks kennas,

Just had a read. Looking good come december. Now we just need the spot price to head back up and we should be away.


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## Sean K (15 October 2007)

the barry said:


> Thanks kennas,
> 
> Just had a read. Looking good come december. Now we just need the spot price to head back up and we should be away.



I think spot price fall 50% ish, may have had some bearing on the sector the past few months. I remember there being some heated discussion about U price earlier in the year and while I expected some consolidation, I certainly did not think it would come back so much, so quickly...... 

BMN still on upward trend from breakout, now hitting resistance. Overall looking OK, especially with the TSX listing comming up. News of EXT's listing seems to have given it a boost...


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## shag (15 October 2007)

yes thanks kennas and guys, good to have more news to read, plus a graph to try to understand.
i think i may have to get more dosh and get a decent amount asap. only got a few-several thou of them.
cheers shag.


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## the barry (15 October 2007)

New report form carmichaels,

http://www.bannermanresources.com.au/docs/2007/BMN_Carmichael_20071015.pdf

Worth a read, they have a very bullish 6 month target of $4.50. Cant wait for the next three months, hopefully the wait will be worth while.


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## Sean K (16 October 2007)

EXT ann'd on 11 Oct their date for listing on the TSX. 

BMN should shortly do the same which you'd expect, all things considered, to support the sp a bit.


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## the barry (16 October 2007)

kennas said:


> EXT ann'd on 11 Oct their date for listing on the TSX.
> 
> BMN should shortly do the same which you'd expect, all things considered, to support the sp a bit.




Does anyone have any definate answer for when BMN will list on the TSX. The listing seems to have lit a fire under the EXT share price with the rise seemingly coinciding with their listing on the TSX. Could just be a coincidence but maybe the Canadian market look more favourably on projects that explorers like BMN and EXT are undertaking?


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## shag (16 October 2007)

spot up 4 percent
finally
gotta work out what to offload to buy bmn
anyone think bhp or rio or wpl or even pdn are overdone?
i hate selling anything


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## DAZT49 (16 October 2007)

BMN Sp up 15c atm and the XJO down 65..this is a great performance.
All the good reports and upcoming TSX listing is starting to take effect.


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## Sean K (16 October 2007)

DAZT49 said:


> BMN Sp up 15c atm and the XJO down 65..this is a great performance.
> All the good reports and upcoming TSX listing is starting to take effect.



Next resist may be around $3.25, which was target from H&S as well. 

Pretty solid short/mid term uptrend in place, bouncing well off support on the way up...


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## DAZT49 (16 October 2007)

Kennas,
another tick for H & S lol.
i had $3.2 as resistance, and a few spot after that up to alltime high.
bollinger bands are trending up, and price bars managing to stay away from the top bolly. RSI not too bad May be some profit taking later but all good really.


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## Go Nuke (16 October 2007)

Well Its looking strong at the moment with it up at the high for the day of $3.25

It will be interesting to see if it can break through that resistance.
As I said before, you just have to look at what happened to Lihir Gold when they listed on the TSX to see what their sp did!

Is BMN back in the action


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## DAZT49 (16 October 2007)

nuke,
I am lazy, can you tell me lihir price before and after listing on the TSX?
Thanks
Could bust thru $3.28 before close


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## the barry (16 October 2007)

DAZT49 said:


> nuke,
> I am lazy, can you tell me lihir price before and after listing on the TSX?
> Thanks
> Could bust thru $3.28 before close




For memory it was about 3.50, it made an announcement on the 10th that it was going to begin trading and then started on the 19th. You also have to take into account lgl unhedging its postition as well as the rising gold price and overall bullsihness of the sector. Lgl is now trading at 4.20 - odd. 
If the spot price continues up and the results are all we are hoping for as well as a positive acceptance on the canadian market hopefully we might be in for an early christmas present. Kudos to all who held through the correction, hopefully it will pay dividends.


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## eMark (16 October 2007)

the barry said:


> For memory it was about 3.50, it made an announcement on the 10th that it was going to begin trading and then started on the 19th. You also have to take into account lgl unhedging its postition as well as the rising gold price and overall bullsihness of the sector. Lgl is now trading at 4.20 - odd.
> If the spot price continues up and the results are all we are hoping for as well as a positive acceptance on the canadian market hopefully we might be in for an early christmas present. Kudos to all who held through the correction, hopefully it will pay dividends.




Never have owned BMN, but do read the thread from time to time. I am a PDN sufferer. I liked Barry's last comment _"Kudos to all who held through the correction, hopefully it will pay dividends"_ Whilst I agree wholeheartedly; especially to the the PDN holders as well, I do hope we all get our "kudos" before the next general correction.

That is my ONLY concern... 1 step forward, 3 steps back?

Most of the U stocks are only now starting to wake up, after other sectors have been partying for some time. Hopefully it's not too late. Uranium may be long term, but remember everything gets pulled apart in a correction.

------------------------------------------------------------------

As a side issue, have a read of the last post I placed in the Uranium for 2007 etc etc thread. Very interesting article.


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## Go Nuke (17 October 2007)

DAZT49 said:


> nuke,
> I am lazy, can you tell me lihir price before and after listing on the TSX?
> Thanks
> Could bust thru $3.28 before close




Np DAZT

Lihir announced that they had commenced trading on the TSX on Wed the 19/9 and opend at $3.63 and today (17/10) after a pretty down day on the market the closed at $4.14.

Yes thats true Barry they did close all their hedging to take advantage of the rise in the price of gold and I think with the instabilty lately caused by the U.S subprime market, more people may be moving into the safety of gold.

But as for BMN today, I'm really pleased to see it keep about $3.25.
Gee Moneybags and I can almost sell those dreaded BMN shares we bought ages ago and cut our losses


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## drmb (18 October 2007)

Go Nuke said:


> ... But as for BMN today, I'm really pleased to see it keep about $3.25.




Seems to be holding above 3.30 today. Why not wait until TSX listing? Some analysts already quoted (above I think) 4.50 as next target.


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## Moneybags (18 October 2007)

Go Nuke said:


> But as for BMN today, I'm really pleased to see it keep about $3.25.
> Gee Moneybags and I can almost sell those dreaded BMN shares we bought ages ago and cut our losses




Hehe, you can sell yours if ya want to GN, I'm looking longer term on this one . Would have been nice to be cashed up in the correction to take advantage of those huge gains. Anyway, all looking positive once again thank goodness.

MB


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## champ2003 (18 October 2007)

Go Nuke said:


> Np DAZT
> 
> Lihir announced that they had commenced trading on the TSX on Wed the 19/9 and opend at $3.63 and today (17/10) after a pretty down day on the market the closed at $4.14.
> 
> ...





LOL goes to show just how much you know about BMN hey??

If I were you I wouldn't even be considering selling them especially now as now is the time to be buying and reaping the rewards to come.

TSX listing, resource upgrade etc within the next few months.


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## Go Nuke (19 October 2007)

champ2003 said:


> LOL goes to show just how much you know about BMN hey??
> 
> If I were you I wouldn't even be considering selling them especially now as now is the time to be buying and reaping the rewards to come.
> 
> TSX listing, resource upgrade etc within the next few months.




Well I paid $3.47 for some a while back but being an idiot i borrowed the cash to buy them (thinking they would go up of course) Since then I have been paying the interest off

I'm learning patience


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## insider (22 October 2007)

I call $3.00 support and then $2.80... I still hold and I'm considering selling... hmmm... Any one else?


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## Sean K (22 October 2007)

insider said:


> I call $3.00 support and then $2.80... I still hold and I'm considering selling... hmmm... Any one else?



I agree with $3 and $2.80 ish ($2.75 for me). I have the feeling the market's expecting a mild correction here and will recover quickly. Just my perception of the news... Not selling on short term movements in this now as the fundamentals seem to have been proven up. As discussed, they've got some potentially good news to produce in the comming weeks which should give them some support.


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## DAZT49 (22 October 2007)

The stock was getting pretty hot on the RSI last Thursday at 91.
BMN tho, does not usually react greatly to the overbought situation.
That big gap opening will have  a reaction back towards $3.30 fairly quickly.
While I agree there may have been a "fluctuation" due in the normal course of trading, todays shambles is directly because of our fickle American friends.
If they are as stupid again tonight ,our whole market could follow suit....again.


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## dj_420 (22 October 2007)

kennas said:


> I agree with $3 and $2.80 ish ($2.75 for me). I have the feeling the market's expecting a mild correction here and will recover quickly. Just my perception of the news... Not selling on short term movements in this now as the fundamentals seem to have been proven up. As discussed, they've got some potentially good news to produce in the comming weeks which should give them some support.




I have been umming and ahhing to buy into BMN for a while now. Jumped in this morning with half on order on the weakness. If the DOW is off again Ill avg down.


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## DAZT49 (22 October 2007)

dj 420,
If the Dow doesnt drop as you hope you will find that BMN opens up higher at the very beginning of trade.
As a long time watcher, I have noticed that sales for BMN start virtually seconds after open of the ASX.
You may miss out on your entry because of this.
$3.03 ish is a pretty good price IMO , and with plenty of talk on ,Hartleys Fat P etc etc (see Bannerman web site)predicting $5 in the short to medium term and $8..$10..$?? long term, 
For the sake of a few hundred dollars now, you may miss out on $1000's later.


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## insider (22 October 2007)

DAZT49 said:


> dj 420,
> If the Dow doesnt drop as you hope you will find that BMN opens up higher at the very beginning of trade.
> As a long time watcher, I have noticed that sales for BMN start virtually seconds after open of the ASX.
> You may miss out on your entry because of this.
> ...




Now don't pressure him... but you're right.... BMN's majority movement happens the first 1/2 hour...


----------



## DAZT49 (22 October 2007)

dj,
insider is right of course. Please DYOR!! 
i wonder if management will hold back the announcement re the TSX listing
until the market stabilises?
The TSX listing and its effect on the SP is my hold/fold decision time.


----------



## Go Nuke (22 October 2007)

So I noticed that Hartley's believe that Bannerman could become a takeover target once some further numbers are released.

Anyone care to speculate *who* might want to take them over?

Areva? Or have they spent enough lately with takeovers Uramin and some of Summit.

Rio Tinto? Rossing is expected to be mined out by 2020.

Just some food for thought


----------



## dj_420 (22 October 2007)

DAZT49 said:


> dj 420,
> If the Dow doesnt drop as you hope you will find that BMN opens up higher at the very beginning of trade.
> As a long time watcher, I have noticed that sales for BMN start virtually seconds after open of the ASX.
> You may miss out on your entry because of this.
> ...




Hey guys, yeah got my entry, ready to buy more on any weakness. I like the look of BMN and have been waiting for a decent down day to time my entry.


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## DAZT49 (23 October 2007)

dj 420,
I bet you cant stop smiling this morning Well done!!
Dow recovered ok last night after going 100 points lower ranging 180 points on the say and finishing up 45 points.
U price crept up to $78/lb.
Bring on the resource upgrade and TSX listing


----------



## Sean K (25 October 2007)

kennas said:


> Next resist may be around $3.25, which was target from H&S as well.
> 
> Pretty solid short/mid term uptrend in place, bouncing well off support on the way up...



$3.25 resistance (was H&S target also) seems to be proving up. I doubt this upward trendline can continue like this for the appreciation to be healthy. If it keeps climbing like this we're likely to see something like we did when the last rush up finally fell over. I'm expecting/hoping for some health consolidation around the green circle.

In regard to takeover candidates, you'd have to consider RIO to be putting the ruler over them. Just tack Welwitschia onto the Rossing tennament.

I like this assessment by DJ Carmichaels:



> When converted on a fully diluted basis, allowing for increased capital to account for an estimated 60:40 debt to equity ratio for project finance, the NPVs translate to a share price of between $4.37 and $5.41 per share for the Goanikontes A project alone, without including exploration upside.


----------



## DAZT49 (25 October 2007)

hi kennas,
i see the chart differently to you.
Your chart looks like "all data" weekly (right?)
The chart is "squeezing" all the info onto the screen, so that the hoizontal scale is different from the vertical scale, if you looked at a chart with, say "daily" 3 months the trend lines become flatter, its a balance to get the 
vertical and horizontal scales roughly the same.(I personally use daily 2 months but refer back for trends)
On my chart I have used "daily" 6 months.
I see a upward channell ( the two green lines) with the SP ranging between the upper and lower line, the next movement "range"  be upward with a target price of $3.70.
Notice the 6-7 day pattern between each channel.
All interesting stuff.
cheers
daz


----------



## bergers_n_fries (25 October 2007)

considering the size of this thread it seems that bannerman resources are a bit of a favourite amongst the internet trading community...

why is this??? i would like to learn more about it...

how is it expected to travel in both the short and long term???

cheers in advance


----------



## champ2003 (25 October 2007)

bergers_n_fries said:


> considering the size of this thread it seems that bannerman resources are a bit of a favourite amongst the internet trading community...
> 
> why is this??? i would like to learn more about it...
> 
> ...




Hey dude,

All that you need to do is read the entire thread and you will be able to educate yourself. No use repeating what has already been typed. Also have a look at their website and read the last 6 months worth of their announcements. aLot will be happening in the company over the next 6 months but don't take my word for it, do your own research and you will see.


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## champ2003 (25 October 2007)

kennas said:


> $3.25 resistance (was H&S target also) seems to be proving up. I doubt this upward trendline can continue like this for the appreciation to be healthy. If it keeps climbing like this we're likely to see something like we did when the last rush up finally fell over. I'm expecting/hoping for some health consolidation around the green circle.
> 
> In regard to takeover candidates, you'd have to consider RIO to be putting the ruler over them. Just tack Welwitschia onto the Rossing tennament.
> 
> I like this assessment by DJ Carmichaels:




Also note that DJcarmichael's target price is assuming that the dilution of shares has already taken place which it hasn't therefore the share price could go alot higher IMO. Also at what price will the dilution take place? It is possible that the amount of shares needed to be issued may be alot less than expected in raising the capital.


----------



## Sean K (25 October 2007)

champ2003 said:


> Also note that DJcarmichael's target price is assuming that the dilution of shares has already taken place which it hasn't therefore the share price could go alot higher IMO. Also at what price will the dilution take place? It is possible that the amount of shares needed to be issued may be alot less than expected in raising the capital.



The first statement doesn't make a lot of sence to me. Why would it go a lot higher than their estimate because of this? The sp could appreciate in the lead up to any capital raising, but it may not too which will mean they will have to issue more shares. DJ's put in their conservative to more bullish numbers which gives you the spread quoted. I can't see any justification in your statement there for the sp to go any higher. Just IMO. 

From my perspective upside comes from an increase resource and production rate than they estimate and increased U price. Also, I don't believe exploration potential is fully factored in either, and this is where the real upside could come from but is impossible to put a figure on at this stage. There could well be another Anomaly A equiv out there, or more. Perhaps if they get some exploration drilling done in the comming months with positive results that will give it further upside.


----------



## champ2003 (25 October 2007)

kennas said:


> The first statement doesn't make a lot of sence to me. Why would it go a lot higher than their estimate because of this? The sp could appreciate in the lead up to any capital raising, but it may not too which will mean they will have to issue more shares. DJ's put in their conservative to more bullish numbers which gives you the spread quoted. I can't see any justification in your statement there for the sp to go any higher. Just IMO.
> 
> From my perspective upside comes from an increase resource and production rate than they estimate and increased U price. Also, I don't believe exploration potential is fully factored in either, and this is where the real upside could come from but is impossible to put a figure on at this stage. There could well be another Anomaly A equiv out there, or more. Perhaps if they get some exploration drilling done in the comming months with positive results that will give it further upside.




My interpretation is that DJC have valued BMN on the basis where they have factored into the share price the 60:40 deb't /equity dilution. They have taken the current resource without exploration upside and put a figure on it including the dilution so around $4.50 is what they come up with. Are people blind??? Why is it that few people can see this??? I'm stumped! Please tell me where are the shares for the capital raising to dilute the price down to $4.50?? Let me think?? there isn't any! Oh my gosh, does that mean that the share price should be higher then??? My gosh! Yes it should! LOL...I dunno mate. Each to their own interpretation....I'll leave you with this thought.


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## Sean K (25 October 2007)

champ2003 said:


> Please tell me where are the shares for the capital raising to dilute the price down to $4.50?? Let me think?? there isn't any!



I'm not sure what you mean by 'dilute the price down to $4.50', when the current price is $3.20 ish, but anyway. I assume you assume the sp will be much higher at some point and will be 'diluted down'. 

Dilution will occur through further capital raisings Champ. They will have to raise money for the PBS/BFS early next year ($20m ish), maybe for more exploration ($?), and then for the capex ($400m ish). It won't all be raised through donations I feel. They have about $10m in the bank now I think, so that will take them some of the way into next year. Excise of options (20m mostly at 20 cents) will also dilute the shares a little. DJ's are assuming 60% will be from the bank for capex I think. Let's hope they do end up raising funds at a higher price. I assume most of the equity will be placed to institutions, but I will be hoping that they do a rights issue also.


----------



## champ2003 (26 October 2007)

kennas said:


> I'm not sure what you mean by 'dilute the price down to $4.50', when the current price is $3.20 ish, but anyway. I assume you assume the sp will be much higher at some point and will be 'diluted down'.
> 
> Dilution will occur through further capital raisings Champ. They will have to raise money for the PBS/BFS early next year ($20m ish), maybe for more exploration ($?), and then for the capex ($400m ish). It won't all be raised through donations I feel. They have about $10m in the bank now I think, so that will take them some of the way into next year. Excise of options (20m mostly at 20 cents) will also dilute the shares a little. DJ's are assuming 60% will be from the bank for capex I think. Let's hope they do end up raising funds at a higher price. I assume most of the equity will be placed to institutions, but I will be hoping that they do a rights issue also.




(I'm not sure what you mean by 'dilute the price down to $4.50', when the current price is $3.20 ish,)

Its the $4.50 price forecast that i am talking about Kennas, not the current share price. Not to worry. Lets just forget it. 

All the best

Champ2003


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## the barry (1 November 2007)

Haven't heard much from my fellow band of bannerman brothers of late. Which i find suprising, people were all over this when it was doing badly and today we are back at 3.42 and not a peep. Hopefully your all to busy popping the champers and counting your profits.


----------



## prophet174 (1 November 2007)

barry,
they've all been banned from this site.....or left in defiance of chris getting booted. Goto HC to keep up to date...


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## Rafa (1 November 2007)

my eternal thanks to chirs...
he unearthed a real jem in BMN.... i'v been in this stock ever since reading his posts way back when...

yeah, not much to post on bmn...  shares go up, shares go down, thats the market....  but at the company its business as usual...all the way *hopefully* to production...


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## Synergy (1 November 2007)

I'm pretty happy with this stock. Once of the best recoveries after the 'crash'. Not so happy with the fact that i thought it was too risky to buy more at 1.40 a couple of months ago... Back when the U sector was dying. I think this is one to hold for quite a bit longer.


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## DAZT49 (2 November 2007)

Havent been posting as nothing much to say.
I am waiting for the TSX listing as this is SUPPOSED to put a rocket under the SP.
I am  sure it will rise but I doubt the short- medium term $10 that has been mooted.
it will get there, maybe when they scoop the first shovel full of yellow cake, !! THEN the Sp will
climb to $??
It is also a frustrating stock to watch, given all the good info, reports etc.
The  pathetic volumes and flukey price movements drive me nuts.
Yesterday was good, lets hope it continues.


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## the barry (2 November 2007)

DAZT49 said:


> Havent been posting as nothing much to say.
> I am waiting for the TSX listing as this is SUPPOSED to put a rocket under the SP.
> I am  sure it will rise but I doubt the short- medium term $10 that has been mooted.
> it will get there, maybe when they scoop the first shovel full of yellow cake, !! THEN the Sp will
> ...




As per usual when the stock seems to break out something happens to pull it back. The dow is down over 300 points at present. Whilst the damage is largely associated with the financial sector it is sure to pull the price back again. Maybe yet another opportunity to load up before december.


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## Joe Blow (2 November 2007)

prophet174 said:


> barry,
> they've all been banned from this site.....or left in defiance of chris getting booted. Goto HC to keep up to date...




Yes, we ban people for ramping and we will continue to do so. Those who who had their accounts suspended for ramping BMN were suspended for violating ASF's code of conduct. These people had been warned again, and again, and again... and still they refused to listen.

The irony is there is no more information being posted on BMN at other forums just more posts, most of them saying very little. If that's what people want then they are welcome to it. This thread has managed to regain a surprising amount of balance since some of the key rampers had their accounts suspended.

Most ASF members want analysis, news and balanced discussion, not cheerleading and ramping. That's the standard we have set and that's the way we intend to keep it. Rampers can go elsewhere.


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## DAZT49 (2 November 2007)

bazza,
The DOW has been a big factor. The last 2 rallys from BMN have been hit on the head by big drops in the DOW.
Maybe today will be different but I doubt it.
daz


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## DAZT49 (2 November 2007)

joe,
You are up early this am.!!(In Melbourne anyway lol)
I dont want to get into a squabble over who left ASF and why, but some quality posters have gone over to the dark side.
Thats history and gone, but I think the thread is the lessor for it.
Daz


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## Joe Blow (2 November 2007)

DAZT49 said:


> joe,
> You are up early this am.!!(In Melbourne anyway lol)
> I dont want to get into a squabble over who left ASF and why, but some quality posters have gone over to the dark side.
> Thats history and gone, but I think the thread is the lessor for it.
> Daz




Hi Daz,

I'm in Peru at the moment. It's late afternoon here.

If some posters have left voluntarily then that is their decision to make. People come and go on forums all the time for a variety of reasons. No one forum is going to please everyone but everyone who has had their account suspended for ramping BMN was warned multiple times beforehand. We do not take permanent account suspensions lightly.

We intend to get tougher on rampers and if that results in an exodus of rampers from ASF to other forums then we welcome it. It can only result in an increase in the quality of posting, and as far as I'm concerned that's a good thing.

Now, back to the topic at hand... BMN.


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## Porper (2 November 2007)

DAZT49 said:


> joe,
> some quality posters have gone over to the dark side.
> Thats history and gone, but I think the thread is the lessor for it.
> Daz




I can't think of any good posters who have left (maybe 1) so agree 100% with what Joe and the mods are doing.

Hotcopper is a joke, just 98% ramping for their own benefit.Posters are generally ten a penny over there, no idea how to stay in the game and no interest in putting in the effort to learn.We don't want those people on ASF i.m.o.

It is amazing to watch over the years the ones that come and go.

Also funny how the same old posters who post quality are still around, still making a dollar in the good and bad times.

Sorry, off topic I know.Won't say another word on the subject on this thread.


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## eMark (2 November 2007)

DAZT49 said:


> bazza,
> The DOW has been a big factor. The last 2 rallys from BMN have been hit on the head by big drops in the DOW.
> Maybe today will be different but I doubt it.
> daz




I agree. But it will be interesting to see how all U stocks do today, especially the big movers from yesterday, including PDN & AGS. U sentiment is growing again; that's the only difference in conjunction with the latest DOW plunge, compared to the last couple of times.


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## Broadside (2 November 2007)

Porper said:


> Hotcopper is a joke, just 98% ramping for their own benefit.Posters are generally ten a penny over there, no idea how to stay in the game and no interest in putting in the effort to learn.We don't want those people on ASF i.m.o.




couldn't disagree more, there is heaps of ramping on HC in general but some threads are excellent and informative and BMN is one of them.


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## nizar (2 November 2007)

Porper said:


> I can't think of any good posters who have left (maybe 1) so agree 100% with what Joe and the mods are doing.
> 
> Hotcopper is a joke, just 98% ramping for their own benefit.Posters are generally ten a penny over there, no idea how to stay in the game and no interest in putting in the effort to learn.We don't want those people on ASF i.m.o.




Hi Porper,

I think it depends. There are some very smart people on HC.
And as usual, the smart take advantage of the stupid, just as the educated profit off the ignorant.

There a few who I suspect to be big players who have a large following over at HC. So they post a "detailed analysis" after they buy a swag, and all the other fools jump in because the poster has a "track record".

Now the problem with these "hot tips" is that:
1/ You dont know how much to buy. The ones that understand position sizing already have their own system in place and would not be waiting for "hot tips".
2/ You don't know when to get out.

So i think HC can be very profitable for those guru types. Just make sure you're not one of the fools.

Just like Gekko said, a fool and his money are lucky enough to get together in the first place


----------



## drmb (2 November 2007)

nizar said:


> Hi Porper, I think it depends. There are some very smart people on HC. And as usual, the smart take advantage of the stupid, just as the educated profit off the ignorant.
> 
> (etc)




Dear Mod - these last 7 or 8 posts seem way off topic imo! Maybe open a general chat thread and move them to it, some of the points are really valid. But have little relationship to BMN imo, or even Uranium speccies! imo just my


----------



## Synergy (2 November 2007)

I don't want to speak too soon but BMN is holding up very well today. I was not going to be surprised if it was -10% but its holding steady. Very low volume on the initial sell off so looking pretty good.


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## Sean K (2 November 2007)

drmb said:


> Dear Mod - these last 7 or 8 posts seem way off topic imo! Maybe open a general chat thread and move them to it, some of the points are really valid. But have little relationship to BMN imo, or even Uranium speccies! imo just my



Yes, please let's get back on track.

I for one have been very happy to come to this thread recently where some good analysis has taken place, and minute by minute commentary and back slapping has disappeared. Thanks to all who have contributed.

Cheers,
kennas


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## the barry (2 November 2007)

Today hopefully marked a change in trends. Was the first time the market has been smashed and bmn hasnt followed with it. Was going to purchase a small parcel but the stock didnt decline past the last parcel i bought. Interesting period to see where support will lie. Hopefully the up trend will continue but would like to see some consolidation around this mark as i think the market is going to get choppy in the short term,


----------



## Moneybags (3 November 2007)

nizar said:


> Hi Porper,
> 
> I think it depends. There are some very smart people on HC.
> And as usual, the smart take advantage of the stupid, just as the educated profit off the ignorant.
> ...




Nizar,

Kinda like YT on this forum.

BMN held up very well in the end and PDN too, I think positive sentiment in U has returned but it will be interesting to see what happens to the market overall.

MB


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## kariba (3 November 2007)

What SP target for BMN?

Very interestingly, tucked away in the Annexure of the AGM notice, they state the details of the Incentive Option Scheme for directors

Directors are asking holders to approve the issue of over 5,000,000 BMN incentive options to directors... As we see, that is normal stuff ... BUT, I thought "it seems a lot of options to give away, but, aah well, they deserve it"

Well, check out the exercise price:

Half @ *Exercise Price of $6.50*

Half @ *Exercise Price of $7.50*

Expiry date: 30 November 2010 at 5.00pm 

Normally directors seek options with the same or lower prices than current! For them to have a price of $6.50 - $7.50 speaks volumes for management not being greedy, and also IMO they are sending a HUGE message to the market of where they see the SP heading to!!! 

After all they would want the SP to be much higher than that to make it worthwhile exercising the options!!

Interesting!!

Fundamentally, where will the SP be when:

1] Canadian listing gets into full swing
2] They announce a full resource in the vicinity of 150mil lbs (circa 3/08)
3] They announce off-take contracts (circa 6/08)
4] They start drilling on other anomalies (circa 6/08) ... (Remember that Anom A isnt even the best target, they only kept going with it because of the historical drills!!)



cheers


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## the barry (6 November 2007)

Share price up to 3.56. Up 24 cents at the moment or nearly 8%

Seems like the market is warming to the BMN's prospects coming up in the short term and it's long term prospects.

As mentioned above there is a lot happening for BMN over the next 8 months. Hopefully the production problems with Uranium1 and Cigar Lake will be a factor in keeping the U spot price strong and hopefully push it higher.


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## Go Nuke (6 November 2007)

All i can say is Woo Hoo for Bannerman!:bananasmi

Great to see it powering along. Though interesting times ahead with the share price closing in on previuos high of $3.94 back in mid April.
I think once the TSX listing is up, the share price will smash through that high.
Canadians are probably cashed up seen as there isn't much hope for Cigar Lake anytime soon.


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## Sean K (7 November 2007)

I would have expected some more lengthy consolidation around the $3.50 mark, or even back to $3.25 where I hoped to pick up a few more, but it looks to have broken through quite well. Hopefully, a major US correction doesn't stop the run.


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## Broadside (7 November 2007)

kennas, when you consider Anomaly A could be around 160m lbs and that is not even considered to be the best/biggest target, it is easy to see massive upside from here now that Uranium price has consolidated (touch wood, bottomed out).  It was an interesting discussion a couple of months ago between kariba and doctorj, suffice to say I topped up between then and now and at this point in time kariba has been vindicated.

Was a good robust discussion.

I thought the strike price for management options was very reasonable and sends all the right signals to the market as to where they think this is heading.  A very professional outfit, have not put a foot wrong.

PS Regarding lengthy consolidation around $3.50, when this runs it runs hard and with an excellent scoping study in place and more research and promotion behind it (Resource Stocks article etc) this will hit new highs very soon imo....barring wider market correction of course.


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## Sean K (7 November 2007)

Broadside said:


> It was an interesting discussion a couple of months ago between kariba and doctorj, suffice to say I topped up between then and now and at this point in time kariba has been vindicated.



No he hasn't. doctorj provided some good analysis that some may have conveniently looked over. His median valuation at the time with the available information was $5.80 which is still well above current price. 



doctorj said:


> FWIW, I thought I'd paste my quick and dirty model. At the moment, the NPV you get out depends largely on the grade and uranium price...
> 
> My matrix model (will post if anyone is interested) gives a NPV/Share of between $0.83 and $11.20 per share depending on which grade and uranium price you use within the range. The median NPV/share is *$5.72* and the average is *$5.80*.




I don't think there was a time period on this so let's see. 

As you have indicated AA is just the start for BMN, any any further exploration success is not factored in to anyone's valuations as far as I can tell, so there could well possibly be some more upside. I expect so.

No one here has been claiming to be expert U analysts. We're all amateurs as far as I'm concerned and open to question.


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## Broadside (7 November 2007)

kennas said:


> No he hasn't. doctorj provided some good analysis that some may have conveniently looked over. His median valuation at the time with the available information was $5.80 which is still well above current price.




There were a number of posts at the time between karibas and doctorj, doctorj took an uber-conservative view (as is his right, and is often prudent) and karibas was far more bullish.  It is all there in the threads, in black and white.  _At this point in time, karibas is vindicated.
_


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## Sean K (7 November 2007)

Broadside said:


> _At this point in time, karibas is vindicated.
> _



In what way? 

The sp is still no where near anyone's valuations including dj carmichael et al. 

The current run is just an interim move to wherever it's going. At this point, no one is correct. 

What has occurred between the series of posts between kariba, doctorj and myself, is that BMN brought out a very positive scoping study. They have had some great PR throughout the media. The general U sector has started to recover, with the spot price appreciating. The commodity sector in general has been very well supported. The financial fallout from the US seems to be restricted so far to a few large banks, so people are taking more risks with their money. We are getting closer to the TSX listing so punters are buying in. The next resource estimate will be on it's way which is anticipated to be 100m lbs +, and this will be just the first of several deposits, all leading to sp appreciation.

So, what was kariba right about?

In fact, forget it, this thread gets distracted enough from the usual cheer leading that goes on. Let's juist stick to analysing any new facts. Cheers.


----------



## Broadside (7 November 2007)

kennas said:


> In what way?
> 
> 
> What has occurred between the series of posts between kariba, doctorj and myself, is that BMN brought out a very positive scoping study.
> ...




kariba was vindicated by the scoping study of course.  Okay I will leave this thread, complete waste of time.  You don't seem to enjoy when the share price is firing and people are enthusiastic, it's strange.


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## the barry (7 November 2007)

Broadside said:


> kariba was vindicated by the scoping study of course.  Okay I will leave this thread, complete waste of time.  You don't seem to enjoy when the share price is firing and people are enthusiastic, it's strange.




You have overmoderated this thread Kennas.

Now instead of posting's about the future of BMN's share price we get posts from everyone leaving the forum if their are any posts at all. The next six months are going to be an exciting time for the development of the company and would have been great to share with the same posters who have supported BMN for a long period of time. I agree it shouldn't be a ramp fest or a daily commentry about the share price.

As stated above there is a lot to get excited about.
The TSX listing
The resource announcement
The drilling of the rest of the tenement
The BFS next year
Getting offload contracts mid next year
the directors setting the option strike price over 7 
The one to get most excited about is the drilling of the rest of the tenement

Don't take this personally as i have thoroughly enjoyed the objectivity that you have bought to the discussion and eagerly anticipate your graphs.But you have banned or driven everyone off this site which is a pity for all of us for reasons to be that seem tripe.

Thank you,

the barry


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## Rafa (7 November 2007)

is kariba banned too???
for a company as promising as BMN, its actually hard not to ramp 


Broadside, i think the conversation between doctorj and kariba was awesome becuase doctorj came in from conservative side, but after the arguements put forward by kariba, revised forecasts and predicted a SP target much higher than what it is now...

more dicussion along those lines is what makes for a good forum... 
I am just annoyed i didn't load up at 1.40 or thereabouts


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## Sean K (7 November 2007)

the barry said:


> You have overmoderated this thread Kennas.
> 
> Now instead of posting's about the future of BMN's share price we get posts from everyone leaving the forum if their are any posts at all.
> 
> ...



This thread is but one of hundreds on ASF, but for some bizaar reason it has taken up the largest % of my time to try and make full of reasonable and objective discussion. And even after banning the worst rampers it still ends up full of BS.  

I am also disappointed that some people, who seemed to be intelligent, have failed to participate in this thread according to ASF posting policies, which I am only attempting to uphold.  

I do not care that the rampers do not post in this thread anymore. BMN is just one topic out of thousands here. There are hundreds of other threads that are thriving, full of people who fit into the ASF investment community, who are willing to look at stocks and life objectively.  

Those who want to ramp, or not be questioned through reasonable argument, can please go elsewhere. 

I find it very amusing that even those who have been banned come back here every day to view what's been discussed. Losing them from this site has been to ASF's long term advantage, IMO. 

Hopefully, the more professional and mature investors who remain, will continue to make this thread a source of quality information on BMN and it's future prospects. And I hope that new investors can come to this thread and receive quality information, instead of pages and pages of BS which has typified this thread in the past.


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## Go Nuke (7 November 2007)

Wow, i only just noticed that BMN gapped up on some good volume today.

Just thought I would add some cheer with how happy I was too see that.


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## Moneybags (7 November 2007)

Go Nuke said:


> Wow, i only just noticed that BMN gapped up on some good volume today.
> 
> Just thought I would add some cheer with how happy I was too see that.




The big question is are you still holding GN. I sure hope that you are and that your faith in BMN will be well rewarded.

Sorry for posting more BS Kennas.

MB


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## the barry (7 November 2007)

Boys, in a rush at the moment so wont get the link but there is another excellent article on bmn by westwoods which has just been posted on the bmn website. I think that is the reason behind the jump again today. I cant wait till it lists on the tsx, is going to be very exciting indeed.


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## the barry (7 November 2007)

Sorry,  it is westwind. Here is the link i shouldnt be so lazy. 

http://www.bannermanresources.com.au/docs/2007/BMN_Westwind_20071105.pdf

Enjoy.


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## Sean K (8 November 2007)

It is good for BMN to have another broker providing a buy recommendation. I'm not too sure about their assumption of 91.8m lbs, although they do say this is a minimum assumption. (and why the .8 ) That can only be good if they do pull out a JORC higher than that I suppose. The other anomaly in their valuation is that they are assuming the same grades in the final resource, which most of us believe will be higher. They also assume only a 50% success rate in establishing the continuity of mineralization to the strike length of 2.3 kilometres and a depth of 350 metres. A more aggressive valuation assuming say 70% success rate, changes their valuation to $5.40. So, they may be being a little conservative, which is right up my ally. 

Was that an all time high close yesterday? 

Nice gap up, hopefully a breakaway, but will at least provide additional support around the $3.50 mark.


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## eMark (8 November 2007)

Seriously, how do you guys feel the main U stocks will hold up during this current market volatility? U prices are going up again, sentiment is good, and stocks are doing great.  Do you think they will hold around supports, or capitulate with the current market.  Personally I don't think we'll see the lows of last August.


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## Sean K (9 November 2007)

eMark said:


> Seriously, how do you guys feel the main U stocks will hold up during this current market volatility? U prices are going up again, sentiment is good, and stocks are doing great.  Do you think they will hold around supports, or capitulate with the current market.  Personally I don't think we'll see the lows of last August.



I wouldn't rule anything out in a major correction, if we ever get one...The BHP/RIO news will probably support the entire resource sector in the short term. U price definately seems to have stablilised, but juries out on how high it returns. I'm taking any short term weakeness to add to my positions at the moment. Not really holding much, see Blog for what's there.


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## Sean K (12 November 2007)

TSX listing approved, date to be advised shortly. 

Will be interisting to see how it responds to the news. EXT seemed to go ok, but all stocks are different.


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## Sean K (13 November 2007)

Another ann yesterday advising that opex will come in a little cheaper. Nice change, from my experience these things tend to get more expensive.

Also good to see advancements on water and power which were one of the risks associated with getting this off the ground.



> *OPERATIONAL COST REDUCTIONS*
> • Reduced Opex costs through improvement in acid consumption
> • Acid consumption 13% lower than scoping study
> • Potential for further reductions in acid consumption
> ...




The other interesting this was mention of Rossing and possible synergies.



> Rossing is currently completing a study into the commissioning of an acid plant in Namibia and recent discussions have identified synergies may exist in the importing, storage and transport of sulphur prill to feed the acid production plants.




Why wouldn't Rossing be looking at BMN as just one giant synergy? I'd be surprised to see BMN remain independant, with the potential to be had and valuations and targets comming in quite a bit above the current sp and the future of the uranium fuel industry still looking positive...


----------



## eMark (13 November 2007)

Why are some of the U stocks down Canada tonight? Including PDN, UUU & CCO. Is there some neg news re price of U etc? Just surprised considering the DOW is up.


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## Sean K (13 November 2007)

eMark said:


> Why are some of the U stocks down Canada tonight? Including PDN, UUU & CCO. Is there some neg news re price of U etc? Just surprised considering the DOW is up.



Futures still read $110 Dec and back to $80 next year. Spot still at $93. All the base and PMs are off, probably just tied in with that. I'm not sure if just 3 U players is enough to judge overall sentiment. Probably need to check all the others for a summary. Maybe they were due for a pullback? Many factors to consider.


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## prophet174 (13 November 2007)

The captn attended a session at CJCarmichael last night and with his permission here are his comments:

"Peter batten is the typical geologist.... quiet mannered , conservative attitude;

this evening I was priveliged to attend his summary of events to date at brokers DJCarmichaels in Perth city on the 31 st floor ..!!

I was recognized immediately as the infamous Captjohn ...by all the carmichael traders ...remembering my nephew & son ; once involved in trading !!!

Peter B was carefully explaining the full on drilling .... & going on & on about the enormous amount of uranium we have I am absolutely convinced this is the strike of the century !!

Better still it can all happen in quick smart time ....lots quicker than Aussie peers !!

After that I questioned peter batten on the strike price of options @$6.50-7.50 etc.. the audience cheered as I suggested a sp of $20 -$30 in 3 years time !! 

Anyway later on I ate all the 'horses doovers' & drank all the wine & wobbled down to earth to find somebody had backed into my Rolls Royce in the car park !!

I told PB I'd bring all this stuff up again at the AGM ...but he said he's in Namibia signing a Nam water MoU ....

Got the word on the TSX ann.. its 22, or 23 nov.

Also stated will be drilling resources for the next ...wait for it !!! 8 YEARS !!

Gentlemen & ladies , just keep buying bmn as much as you can afford !!....IMO...

cheers 

cj "


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## Go Nuke (13 November 2007)

Ah the good old Cptn..he was a laugh
I couldn't make it over to Perth for a visit and to stop in at the AGM. Its just so bloody expensive to fly from Brisbane to Perth. (Cheaper to go to Fiji. I'd rather be there)

Thanks for posting "memoirs from a Cptn" Prophet!
Good to get some inside goss on the TSX listing date.

Goodluck Bmn holders


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## the barry (16 November 2007)

Will we see all time highs tested tomorrow? If it can break through those sell orders at 3.90 then it could see blue sky sailing.


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## Sean K (16 November 2007)

the barry said:


> Will we see all time highs tested tomorrow? If it can break through those sell orders at 3.90 then it could see blue sky sailing.



EOD closes are more significant and is was an all time high close. All other metals are getting smashed right now and DOW slipping, so there's probably a chance it will slip back, although a gap up and run would of course be nice..... $3.50-3.75 should act as longer term support now, all things being equal. TSX listing next week should provide some interest, and support, you'd expect.


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## Sean K (16 November 2007)

BMN TSX listing ann today. 

Hopefully this provides the support and kick along some would believe appropriate. 

Anyone have an update on the updated resource estimate?


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## Sean K (16 November 2007)

kennas said:


> EOD closes are more significant and is was an all time high close. All other metals are getting smashed right now and DOW slipping, so there's probably a chance it will slip back,



No idea, but still early in the day, looks very positive..

BMN pushing though all time highs, intraday, but it usually falls off. If it finishes up, then even more positive.

I am only a junior at TA but this set up _should _ anticipate a projection from the distance of the bottom of the triangle to the top.  

That would put it far higher than the 12 month FA targets I think, so I will remain reserved...


----------



## the barry (16 November 2007)

kennas said:


> No idea, but still early in the day, looks very positive..
> 
> BMN pushing though all time highs, intraday, but it usually falls off. If it finishes up, then even more positive.
> 
> ...





All time high finish...................... can hear the champers popping tonight. Great for all those who kept the faith. Monday will be interesting to say the least. Will sleep a little easier though this weekend.


----------



## Synergy (16 November 2007)

This is once share i certainly haven't been losing any sleep over. Up over 150% in a few months. Not that all of that is gain for me, but jeez its move up has been relentless.


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## kariba (17 November 2007)

Hi all

HighGrade online have 3 great articles on Bannerman ... sadly you need a subscription. I have posted one of these below. (For the moderators ... Highgrade do allow subscribers to share the article)

Have a look at the last paragraph for an idea of where the directors see BMN going in the future!!!

I dont often post on forums as you can see ... but I have over the past year or so become quite familiar with Bannerman & the Goanikontes project. I did feel compelled to reply to some of the negative & ill-informed posters here in the past, but am quite happy now to let the company & the SP do the talking. 

One thing I did suggest was that people NEVER compare BMN to PDN ... History will end up showing that Bannerman got the cream of Namibia, with Goanikontes Anomaly A being just a small tip of the iceberg!! .... While PDN will continue to have production problems at LH (notice another downgrade hidden in the recent qrtly), squabbles in Malawi, & years of armwrestling with pig-headed Labor policy in Australia!

I just hope the information that I provided assisted anyone in getting in when it was at sub-$2 prices ... I put just about every spare cent I had into BMN then & continue to buy now with profits from other trades. IMO we haven't even begun to see the real potential of BMN. I wont mention a SP target (I might get moderated again) ... but suggest you use your powers of reason: A $2.5billion price for Uramin, for an inferior deposit than BMN's, nevermind all the other BMN targets!!! Thats is 5 times BMN's current MC. Anyway have a read.....

Cheer


http://www.highgrade.net/

*Heat on Goanikontes costs*
By Richard Roberts, 12 November 2007 

Diamond drilling at Goanikontes in Namibia.

THE drive to cut projected operating costs used in the recent scoping study on Bannerman Resources Ltd’s Goanikontes uranium project in Namibia by a third or more is on in earnest in the lead-up to a new resource statement, expected late this year or early next, with a $US50-70 million acid plant part of a longer-term view of the project’s potential scale.

The acid plant will send project capital costs in the other direction, but Bannerman managing director Peter Batten believes substantial operating cost savings can produce a two-year payback.  “From then on it can have upwards of a 40% impact on the operating expenses,” he said.

Bannerman’s scoping study put operating costs for a proposed 15 million-tonnes-per-annum open pit mine and conventional acid leaching operation – producing about 4000tpa, or 8.8 million pounds a year, of uranium oxide – at $US27-31/lb. Two-thirds of the costs were in processing and more than 80% of the processing costs were tied up in sulphuric acid sourcing and use.

“Eighty-three per cent of two-thirds is a big number,” Batten told HighGrade.

“If we can secure our own supply we can reduce our operating expenses considerably and there’s also the benefit of producing power through excess heat from the acid. So we end up with another benefit there in the form of essentially free power.”

Batten estimates this could constitute 14kW of Goanikontes’ initial 30kWpa power need. He expects to make a decision on the acid plant, adopting high-pressure grinding roll (HPGR) instead of conventional SAG and ball mill ore comminution, and radiometric ore sorting, in the second quarter of next year. HPGR would save power and water, and reduce capital costs, but might present Bannerman with dust control problems.

The company confirmed to the Australian Securities Exchange this week that further metallurgical test work conducted since the scoping study was completed had shown leach testing on coarser Goanikontes rock samples (than material used earlier) produced acid consumption rates more in line with those being achieved at the Rio Tinto-operated Rossing uranium operation about 20km north-east of Goanikontes. Further testing is in progress, but Bannerman said acid consumption was 13% lower using coarser RC drill chip samples, and up to 50% lower on drillcore material, than the scoping study results.

Batten is confident the lower acid consumption can be transferred through to lower operating costs, along with longer-term savings from a dedicated acid plant and the industry-first use of HPGR comminution. Rossing, which Rio Tinto wanted to exit two years ago, is also building an acid plant and adopting radiometric sorting as part of its current expansion, and Bannerman has had preliminary contact with Rio Tinto on sulphur prill importation, transport and storage synergies that might exist between the two sites.

Bannerman’s scoping study predicted the use of radiometric sorting and a HPGR circuit could reduce the capital cost of establishing Goanikontes as a 4000tpa producer of uranium oxide from $US400 million to about $US360 million. The acid plant would obviously blow the lower number back out. Some analysts who’ve visited Goanikontes have already penciled in capital costs of $US500-600 million for the project, based partly on the rate of cost escalation being seen in the industry worldwide.
Bannerman is using a long-term average uranium price of $US45/lb in its project model, compared to most analysts’ projections of around $US60/lb.

“That’s because of my background in mining [consulting and mine geology]. Everything we do has to be robust,” Batten said. “There’s nothing like opening up a mine full of expectation and reality bites you. So we’re using $US45/lb even though the long-term projections say $US60/lb.” 

Bannerman also said this week it had signed a Memorandum of Understanding with Namibia’s state water utility, NamWater, for the delivery of up to five million cubic metres of water a year from a new desalination plant from July 2010. Additional national grid power is expected to be available by late 2009.

“We’ve got any number of challenges,” Batten said.

“The water we’re quite comfortable with at the moment. Power is being addressed, but we don’t know how completely. The expectation is that it will be fulfilled.

“But the other problems include staffing. We’re going to require several hundred people out of an already overtaxed system.

“We’ve given ourselves a tight development schedule [and] since we set the first schedule the project’s grown by 50% in length and more than 25% in depth, so it’s a challenge for us to complete this in the time schedule we’ve put in. In the world as it is today, our long lead items are currently at 24 months and if they blow out any more than that our time schedule suffers.” Batten said using the less conventional HGPR plant would not alter the mill delivery window of two years.

The company was expecting to announce a much larger resource than the preliminary inferred total (55Mt grading 219ppm U3O8) posted in September.

*“Our first deposit is going to be quite large and we have larger ones,” Batten said. “They’re a little bit more difficult to drill and will take longer, but the indications are that they will be bigger, better, and so doubling production in future is certainly something that will be considered by the company.

“We are looking at what it would take to double the producion level, but that’s a what-if scenario at this stage.”

It is also one that would make Goanikontes the world’s biggest uranium mine.*


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## insider (17 November 2007)

kariba said:


> Hi all
> 
> HighGrade online have 3 great articles on Bannerman ... sadly you need a subscription. I have posted one of these below. (For the moderators ... Highgrade do allow subscribers to share the article)
> 
> ...




Any of the issues brought up in the articles are really minute IMO... There is really only one thing to do... Buy up more shares and sit back watch the Share price rise... This is a gem Good Luck holders  Any Share Price Predictions?


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## insider (18 November 2007)

By the way people, those of you interested in leveraging with CFD's should look at MF Global CFD's... 35% Margin  Comsuc ain't doing this... By the way is there a thread on CFD's I'm a little confused on how they work? They sound like a cross between options and Margin lending...


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## Sean K (20 November 2007)

BAN opens up at $3.65CAD ($4.20AUD) on the TSX on just 3000 shares. Next buy at $4.00CAD. Would have thought the broker might have bought a few more to make it look interesting. Maybe they did chip in the $10K just to get it started. Not much interest really. Perhaps those Canucks aren't any more astute U investors than us dumb Aussies? LOL  Better sack the PR dude who they've hired I think.  Hardly the excitement that I was looking forward to.  Early in the day I suppose, and give them a bit of time to understand it. Maybe not enough ramping on the Canadian forums yet. Will be interesting to see the effect of the listing on BMN tomorrow.


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## the barry (20 November 2007)

kennas said:


> BAN opens up at $3.65CAD ($4.20AUD) on the TSX on just 3000 shares. Next buy at $4.00CAD. Would have thought the broker might have bought a few more to make it look interesting. Maybe they did chip in the $10K just to get it started. Not much interest really. Perhaps those Canucks aren't any more astute U investors than us dumb Aussies? LOL  Better sack the PR dude who they've hired I think.  Hardly the excitement that I was looking forward to.  Early in the day I suppose, and give them a bit of time to understand it. Maybe not enough ramping on the Canadian forums yet. Will be interesting to see the effect of the listing on BMN tomorrow.




Obviously kennas you havent looked at the dow and the tsx. Both getting smashed.


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## Sean K (20 November 2007)

the barry said:


> Obviously kennas you havent looked at the dow and the tsx. Both getting smashed.



Yes I have. That may have something to do with the lack of interest, you are right. I think it's just that it's a new listing that Canadians aren't aware of yet. When they understand the potential I think there'll be more volume there.


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## strayda11 (20 November 2007)

Kennas, 

The fact BMN opened at a premium (even on low volume), when everything around it is getting smashed (commodities, the DOW, and the TSX) is surely a vote of confidence in the company.


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## Sean K (20 November 2007)

strayda11 said:


> Kennas,
> 
> The fact BMN opened at a premium (even on low volume), when everything around it is getting smashed (commodities, the DOW, and the TSX) is surely a vote of confidence in the company.



Yep, I agree, pretty positive, on a down day. Could have been sold off too. I do like that no one's willing to sell under $4.00CAD at the moment. So, whoever's holding thinks it's worth a bit more than $3.65CAD. 


Just a little off topic, I thought I'd thow in a picture of me fishing in Canada recently... 

Cheers,


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## Nibbo (20 November 2007)

All thats missing from the photo is about 30 drilling rigs and half a dozen coal mines and a pulp mill


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## Absolutely (20 November 2007)

Nice photo. I was in Canada last month myself. You got to watch out for the bears ! Tourists think Australia is dangerous with our snakes and spiders but geez when you think about bears jumping out of the woods and ripping you apart, makes Australia look pretty tame really. And you can't outrun them. Not that it happens very often but the signs "Be Bear Aware At All Times" even in some populated areas made me shiver. And I didn't like wandering through the forest on my own.

Anyway, guess I should say something about BMN too.

Well, it's holding up OK on a down day don't you think? I'm sure it will be off again once there is another change in sentiment (which seems to happen daily in the US).


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## Sean K (20 November 2007)

Absolutely said:


> Well, it's holding up OK on a down day don't you think? I'm sure it will be off again once there is another change in sentiment (which seems to happen daily in the US).



Yep, seems to be going OK, and respecting $3.75 for the minute. I still think what I posted on the 16th is a possibility.

This has been conforming well to basic S&R lines, hope that continues.

Having said that, funnymentals are clear and long term, those broker targets seem realistic, all things staying on track in the U market. I've just been topping up on any pullbacks the past several weeks. Short/Mid term risks still about with the US looking nasty but I think our market might be about to find support around the 6450 ish area.


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## blablabla (20 November 2007)

For the listing on the Toronto stock exchange to have a significant effect on the ASX SP there would have to be adequate liquidity in the Toronto market. This is necessary to give confidence to Canadian investors contemplating buying the stock that they will be able to sell again whenever they choose.

Anybody have a clue as to how many Bannerman shares are held in Canada?


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## Yeti (20 November 2007)

TORONTO, ONTARIO--(MARKET WIRE)--Nov 19, 2007 -- Bannerman Resources Limited (Toronto:BAN.TO - News)(ASX:BMN.AX - News) is pleased to announce that today the common shares of Bannerman Resources are listed on the Toronto Stock Exchange ("TSX"), trading under the symbol "BAN." The TSX has granted the listing in the Mining category for 145,145,117 common shares, of which 127,532,617 common shares are issued and outstanding, and a further 17,612,500 common shares are reserved for issuance.

From   http://biz.yahoo.com/iw/071119/0330276.html


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## blablabla (20 November 2007)

Thanks yeti. The 127 million shares matches the latest app 3B issued to the ASX, so it must include the shares held in Canada as well as the shares held in Australia and elsewhere.

A previous announcement on 22nd June 2007 to the ASX mentioned a placement of 2.8 million shares to North American and European investors, but gave no further breakdown.


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## kariba (21 November 2007)

blablabla said:


> Thanks yeti. The 127 million shares matches the latest app 3B issued to the ASX, so it must include the shares held in Canada as well as the shares held in Australia and elsewhere.
> 
> A previous announcement on 22nd June 2007 to the ASX mentioned a placement of 2.8 million shares to North American and European investors, but gave no further breakdown.




*GMP Securities* ... Have been appointed as the "Temporary Market Maker"

No shares have been issued to the public in Canada. So GMP are "Making" a market over their temporarily until they have enough shares to trade normally.

So you will notice on the TSX that GMP are the seller of ALL parcels, and will remain so until there are other holders & sellers ..... So, one guess who has been buying shares over here on the ASX at cheaper prices over the last month or two??



cheers


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## insider (22 November 2007)

nICE ONE kARIBA 

I'm setting up an account with MF Global for CFDS and International Trading... I may have to consider this


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## Sean K (23 November 2007)

Any thought on the drop from $4.00 to $3.30, now $3.40 over just 5 days?

1. Profit taking? 
2. A well needed break?
3. Risk aversion?
4. Investors needing money to pay margin calls?

Even though market conditions could point to 3 and 4, I'm actually leaning towards 1 and 2. The stock has had a champion run since capitulation day in August, and perhaps investors were just thinking time to reevaluate. For those who bought in at the lows perhaps they just want to take some profits and let the rest run? I'm sure 3 and 4 is a factor, but the funny's seem too good for me to be taking any off the table right now. Hopefully the JORC is at least up to expectations. Anything under 100m and I think there may be some short term weakness. Most are expecting at least 100 for AA.


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## Broadside (23 November 2007)

I think it is points 1 and 2, it ran hard and needed a breather and the wider market got the jitters.  I topped up yesterday, seems like good buying but it may go lower...regardless I am confident it is excellent buying for the longer term.

I apologise for getting into a slanging match with you a couple of weeks ago, it was uncalled for.  

I am excited by the potential of this company, when we consider the first target alone probably has upward of 100m lbs of Uranium (and scoping study costs < $30/lb) and we consider the company has said the remaining targets could and should be better...it makes buying around these levels seem like an excellent proposition.


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## kariba (24 November 2007)

Hi all

We now have *three *Canadian houses covering BMN ... quite a feat so early in the piece!

Westwind Partners - Target A$4.80
GMP Securities – Target C$5.00
Coremark – Target C$5.80


All of these are major TSX players and attract large customers, eg Coremark only deals with institutional clients & now has it on their recommendation list

Now Comsec has added it as a 'moderate to strong buy' here in Aus!!!

Guys, all the jigsaw pieces are coming together to reveal that have got onto something pretty special.

Kennas, the recent weakness in SP looks a litle "assisted" as well. The above organisations will all be buying stock here.

Finally, remember we have a resource upgrade due at end of December (assume early Jan) That is down to 300m and will be between of 110 - 130m/lbs. Then another at end of Mar qtr for down to 380m which should add another 30m /lbs. (based on simple maths, extrapolating 27mlb from 1.4klm x 80m to 2.3klm x 380m)

This is conservative & doesnt allow for mineralised metasediments & grade increase.

She is going to be a corker!

cheers


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## Sean K (24 November 2007)

kariba said:


> Finally, remember we have a resource upgrade due at end of December (assume early Jan) That is down to 300m and will be between of 110 - 130m/lbs. Then another at end of Mar qtr for down to 380m which should add another 30m /lbs. (based on simple maths, extrapolating 27mlb from 1.4klm x 80m to 2.3klm x 380m)
> 
> This is conservative & doesnt allow for mineralised metasediments & grade increase.



The company is only aiming for 100m lbs I think, and I have always been assuming that they're going to extend it x 4, so I'm sticking to 100-110 for the first upgrade. I agree, a BIG kicker could be mineralised metasediments. If Rossing's is 40% of the total resourse, and this is so similar, imagine if they added in another 40% in the final upgrade.  Up 5%+ in Canada on Friday, and with Labor getting in, focus for Aust U investors may go further off shore.


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## kariba (24 November 2007)

kennas said:


> The company is only aiming for 100m lbs I think, and I have always been assuming that they're going to extend it x 4, so I'm sticking to 100-110 for the first upgrade. I agree, a BIG kicker could be mineralised metasediments. If Rossing's is 40% of the total resourse, and this is so similar, imagine if they added in another 40% in the final upgrade.  Up 5%+ in Canada on Friday, and with Labor getting in, focus for Aust U investors may go further off shore.




I agree it is starting to look interesting indeed.

One thing with BMN ... Management have proved to be consistantly conservative in their statements. If you happen to actually see & listen to them when they quote the 100 m/lb target, you will see a knowing twinkle in their eyes!! They know the JORC will exceed their modest, stated target.

Remember that the initial *27 m/lbs *was based on *1.4 klms strike *... if they expanded it to *2.4klms x 80m*, we would have about *45 m/lbs.*

Times that by 4: (177)!! Or even be conservative & times it by 3: (144)!! ... And that is on a *219ppm grade *... and it WILL be higher!!

Not saying it will get to those, but, IMO they are going to surprise the market bigtime!!

cheers


----------



## Sean K (25 November 2007)

kariba said:


> I agree it is starting to look interesting indeed.
> 
> One thing with BMN ... Management have proved to be consistantly conservative in their statements. If you happen to actually see & listen to them when they quote the 100 m/lb target, you will see a knowing twinkle in their eyes!! They know the JORC will exceed their modest, stated target.
> 
> ...



Yeah, having a listen to Peter B again and he is being conservative with 100 m lbs by the sounds. He is also just talking AA too of course. With 20 other targets (is that right?), then in the long run there could be 100s of millions of pounds there. _Could _be. 

I just have two points about your above statements. 

I think 4 x 45 = 180, not 177. Your calculator must have a glitch.  Nonetheless, these figures, which seem reasonable, a way over the 100m lb estimate from the company. Also, I don't know how Coffey could be so far out with their extrapolation. They have used the same grades, which we know will be higher, but they have gone out to 2.2km and 350m depth, which is actually more than 4 times the interim 80m depth. Just. Perhaps the answer is the next point. 

By a cursory look at the drilling maps for AA the deposit looks to thin to the south. Not sure what it looks like under the ground as I've only see a cross section for Drill Section 94 (I think), so it's a little bit of an unknown. So, simple extrapolation of the 1.5km strike to 2.3km may be a little much. However, I'm not clear on what step out drilling they've done to the south, so it may even be wider. Plus, I think they're drilling that alaskite anomaly further to the south which could add some pounds in. 

Having said that, with the information available, extrapolating it how you have is probably reasonable. I certainly like the numbers, but I'm trying to be conservative, as always.


----------



## kariba (25 November 2007)

kennas said:


> I think 4 x 45 = 180, not 177. Your calculator must have a glitch.  Nonetheless, these figures, which seem reasonable, a way over the 100m lb estimate from the company. Also, I don't know how Coffey could be so far out with their extrapolation. They have used the same grades, which we know will be higher, but they have gone out to 2.2km and 350m depth, which is actually more than 4 times the interim 80m depth. Just. Perhaps the answer is the next point.
> 
> By a cursory look at the drilling maps for AA the deposit looks to thin to the south. Not sure what it looks like under the ground as I've only see a cross section for Drill Section 94 (I think), so it's a little bit of an unknown. So, simple extrapolation of the 1.5km strike to 2.3km may be a little much. However, I'm not clear on what step out drilling they've done to the south, so it may even be wider. Plus, I think they're drilling that alaskite anomaly further to the south which could add some pounds in.
> 
> Having said that, with the information available, extrapolating it how you have is probably reasonable. I certainly like the numbers, but I'm trying to be conservative, as always.




Hiya Kennas

Actually it's 4 x *44.4* to be exact which = 177.4

No problems with being conservative, much better to expect less & receive more!!

You are correct that the deposit will not be uniform in shape, so we can expect less mineralisation at the edges. I notice in the latest satelite photo with drill positions they show more drill holes in the area you circled, so it will be interesting to see those results. Some of the holes further South also have very high grades, also some holes have ended in mineralisation at 350m, hence they will be putting down cores to 400m to check the depth extent.

I know they are *VERY* confident that base resouce will be 100 m/lbs, from then on, time will reveal all.

I am *VERY *bullish, but happy to be tempered!!

cheers


----------



## gfresh (25 November 2007)

I also believe monday will see the start of a further major uptrend.. as Labor's victory may have many abandoning local U stocks, and looking for those with overseas operations. It seems likely stocks like BMN may be the beneficiary. 

The pull-off the $4.00 mark was hopefully only a small breather before we can go to greater heights.. If we see $3.40 as the support line, monday's action should be quite telling as to future direction.


----------



## Sean K (27 November 2007)

There's been discussion of a 'double top' at HC which on the surface could be a possibility. It certainly looks like a possibility with one distinct peak and rejection at the resistance, but it doesn't quite fill enough of the qualifications in my mind to be a 'double top' at this stage. 

For interested parties, here is an outline of what a double top is:



> *Double Top (Reversal)*
> 
> The double top is a major reversal pattern that forms after an extended uptrend. As its name implies, the pattern is made up of two consecutive peaks that are roughly equal, with a moderate trough in-between.
> 
> ...



Looking at the 2 year chart, it certainly seems to have one peak, so far, but the establishment of a second 'peak' obviously depends on what happens to the sp from here. If the sp drops to the trough at $1.30, and breaks that support, then the target, according to the general principles, will be -$1.40. I'm not if that is possible at this time. So, double top? Perhaps nay. 

For another perspective, I have added some very basic EW to the 2 year chart below with what looks to be the classis 5 wave up, 3 wave down, and we have now perhaps completed a wave 1 up, with wave 2 in progress. I considered $3.50 to be good support, but slightly longer term $3.25 looks stronger. Considering wave 3 up is never the shortest wave, there seems to be some potential for this to break up considerably. Having said that, I have very little understanding of EW, so the sp could probably go anywhere from here.


----------



## the barry (27 November 2007)

kennas said:


> There's been discussion of a 'double top' at HC which on the surface could be a possibility. It certainly looks like a possibility with one distinct peak and rejection at the resistance, but it doesn't quite fill enough of the qualifications in my mind to be a 'double top' at this stage.
> 
> For interested parties, here is an outline of what a double top is:
> 
> ...





Im not to sure how much you can take from the charts at the moment. Tommorrow the bottom might fall out of the dow again, a week from now the company might release a resource well above estimations, or well below for that matter. Futhermore the apparently u loving canadians might take a real shine to ban (tsx code for bmn).As we speak 200,000 plus ban stocks have traded on the tsx still at a premium to current prices (significant trades of 100k and 90k). Well above the numbers that have been going through prior.
For mind there is to many variables to take anything from the charts at present. One thing is for sure though it is going to be a very interesting ride up until the point the next interim resource is announced.


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## kariba (27 November 2007)

Awesome wolume on the TSX last night!!!

Over 430,000 sold & a number of 100k parcels via Cormark to their institutional clients.

The fun is starting, leading up to JORC upgrade in a month or so!

Cheers


----------



## Synergy (6 December 2007)

Is this the start of the good news expected in December?

Highlights:

• Spectacular intercept from Anomaly A: 235m @ 389 ppm eU3O8
• Mineralisation confirmed at deeper levels from diamond drilling:
57m @ 375 ppm eU3O8 from 398 to 450m vertical.
• Numerous higher grade and wide intercepts from infill drilling;
111m @ 269 ppm, 144m @ 223 ppm, 33m @ 612 ppm, 18m @ 583 ppm,
36m @ 447 ppm U3O8
________________________________________________________


----------



## Sean K (6 December 2007)

Synergy said:


> Is this the start of the good news expected in December?
> 
> Highlights:
> 
> ...



There are a couple of enormous intercepts there.

I'm most impressed with the high grades. 33m at 612ppm is sensational. And confirmation high grades at depth as well. They are much better grades than I was expecting.


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## the barry (6 December 2007)

kennas said:


> There are a couple of enormous intercepts there.
> 
> I'm most impressed with the high grades. 33m at 612ppm is sensational. And confirmation high grades at depth as well. They are much better grades than I was expecting.




Awesome. How big is this resource going to be? This resource alone will be a company maker, crazy when you think they still have 37 of 40 kilometers of drill targets to go.


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## Rafa (6 December 2007)

This is some news... 
:jump::jump::jump:

Key resistance for me its the $4.00.... its tried twice now to break it and failed miserably... even today it hit $4...

Let see what happens technically, but fundamentally, things are looking very rosy...


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## Sean K (6 December 2007)

the barry said:


> awesome. how big is this resource going to be? This resource alone will be a company maker, crazy when you think they still have 37 of 40 kilometers of drill targets to go.



With the diamond hole intercepting high grades and good widths, and the largest intercept having almost double the last largest ppm, then it could be enormous. Too early to pluck a figure I reakon without detailed cross sections but the next resource due in Jan should be much higher than 100m lbs by those numbers. I've topped up again on this news. I think it's very significant in improving the project economics, as if it needed it.


----------



## panikhide (6 December 2007)

Looks like there was some large volume at about 10:20am which pushed the price up to $4. Interesting to see where is goes to now since it has hovered around $3.65-$3.80 for the last hour or so. Maybe it will do its usual end of day fall-off before more action tomorrow?


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## Go Nuke (6 December 2007)

Ah! Fantastic

Its news like this that makes me feel warm and fuzzy inside that over 50% of my puny portfolio is with BMN

It helps me sleep at night with my HLX screw up..lol.
Indeed hopefully this is the start of more good news to come from Bannerman.

And GREAT to see those results at 400+ metres!


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## the barry (7 December 2007)

Toronto update,

Last trade,

3.49 CAD = 3.94559 AUD 

Hopefully we will follow suit and head back to the 4 dollar mark today. Dow well up again will help.


----------



## kariba (7 December 2007)

Hi all

I dont post much unless I have something significant to say.

Just had to make mention what a great announcement yesterday!!!

Anomaly A is now being proved up to be one of the world's premier uranium deposits ... we can say that now without seemingly ramping.

They have been giving us clues for months now, with each presentation giving a deeper drilling target ... from 280m earier in April, we have gone to 300m, then 350m, then 400m, now 450m!!

The worlds attention is turning to Namibia as the best uranium province in the world, along with one of the best pro-mining environments!!

Awesome

cheers


----------



## the barry (8 December 2007)

Hey kennas,

just wondering what your sentiment on the stock is now. Do you have a price target for after the first ammended resource is announced and what size are you anticipating?

cheersz


----------



## Sean K (8 December 2007)

the barry said:


> Hey kennas,
> 
> just wondering what your sentiment on the stock is now. Do you have a price target for after the first ammended resource is announced and what size are you anticipating?
> 
> cheersz



Barry, I've always been positive on the potential of this stock. The perception from viewers has been clouded by my judicial enforcement of ASF posting policies in this thread. Much to the dislike of those who have failed to read and/or understand the policies.....

But anyway, those last drill results are fantastic. I think the broker analysis from Carmichael et al will have to be re-written to the upside after that. Getting large widths of over 300ppm with such overall tonnage is going to make AA a massive cash generator for the company and be the basis for development of the rest of the tenament. While power and water are still small risks, and the price of U seemingly set to be at least around the $100 mark for a few years, the only major risk to the company is a U disaster, which is a remote possibility. 

Short term FA targets are somewhere within anaylsts range of $4.50-$5.50, but it's impossible to put long term FA price targets IMO because we don't know the full extend of AA let alone the rest of the tenament. Assume there's another AA in there (which is possible) then double the sp targets. Another 2 AA's, tripple it. That's some way off though.

My dodgy, speculative, TA target, which I posted earlier, from a break up through $4.00 is about $6.00.


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## kariba (10 December 2007)

Someone was concerned on another forum about the grades BMN has at Goanikontes ... I think most are beginning to realise that this is not an issue anymore.

Doug Casey (well known by most uranium investors) has said that the world’s next big uranium mine will be a “low-grade, large-tonnage, bulk mining” operation.

That’s what Goanikontes is!

While some focus on the "low" grades of the lastest drilling: ranging 250ppm – 400ppm

One should also focus on the latest intercept: 235m!!! Then remember that this is only the “depth extensions” drilling of the deposit. The Anomaly A ore body is made up of skarn Alaskite layers that start from the surface & layer all the way down to these current drill depths of 400 plus meters.

This is going to be a massive deposit, that will be open pit mined from surface, down to manageable depths around the 400m mark.

This operation, per the scoping study, is very robust, with OPEX figures that management can reduce even further. Below are some figures showing the profitability of the in-situ value.

*Bannerman 
U Price: $ 93.00
OPEX p/lb: $ 27.00

U % = 0.026% or 260ppm
lbs/U p/t 0.5732
Value per tonne: $53.31
OPEX per tonne: $15.48
Profit p/tonne: $11.52

Projected total tonnes: 350,000,000
lbs/U: 200,624,667
In-situ value: $18,658,094,000
Total OPEX: $5,416,866,000
Total Profit: $13,241,228,000*

The first block shows the value of 1 tonne of rock ore. Based on 260ppm/0.026% at current U prices.

The second block shows the total based on 350 million tonnes (my estimated gettable target)

So we come up with an awesome project offering $13 billion profit figures 
(Remember,.... this is EBIT & does not include initial CAPEX estimated at $500m, Tax, or the 3% royalties  … Then BAN has 80%)

Important to remember too, that Goanikontes Anomaly A is only one of 14 plus deposits than BMN will drill out … it is not even the best one!!! Just the most expedient.

cheers


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## Sean K (12 December 2007)

Good to see them detailing what the exploration plan has been and is.


These are pretty big strikes, but the grades need to be settled. Would be nice to think these alaskites are the same depth and grade as AA.  



*NEW REGIONAL RADIOMETRIC DATA PREPARES BANNERMAN FOR EXTENSIVE 2008 EXPLORATION PUSH*

Highlights:

• The Company’s first on ground exploration programme outside Anomaly A generates major drill targets.

• The Rossingburg Anomaly is now continuous over 4.5 kilometres with extensions up to 6 kilometres.

• A very strong uranium anomaly, over 3 kilometres, identified at Ombuga South.


________________________________________________________


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## insider (13 December 2007)

I have started trading with CFD's with MFGlobal... 35% margin Rate... Pretty good... I asked the sales person what makes them decide to leverage on their selected companies and to sum it up because they regard them as good companies... MFGlobal has in my opinion 10/10 customer service so far and is very fast to setup an account... I don't mean to sell the product but for those who are interested in leveraging in BMN here is one way...


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## jj0007 (13 December 2007)

insider said:


> I have started trading with CFD's with MFGlobal... 35% margin Rate... Pretty good... I asked the sales person what makes them decide to leverage on their selected companies and to sum it up because they regard them as good companies... MFGlobal has in my opinion 10/10 customer service so far and is very fast to setup an account... I don't mean to sell the product but for those who are interested in leveraging in BMN here is one way...




What margin do they charge over the base interest rate?  e.g. what is their current lending interest rate?


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## insider (13 December 2007)

jj0007 said:


> What margin do they charge over the base interest rate?  e.g. what is their current lending interest rate?




OK my understanding is They Want a 0.125% commission on all profits... They Charge 9% per annum interest rate for overnight holdings... Example say I borrowed $10000 so it would be (10,000X0.9)/365days... That is holding overnight... It costs $85 a month to use the Platform WebIRESS but if you don't log in in the new month you won't be hit with that fee... And each brokerage fee is $12.50 I think... A lot of numbers to absorb... And interest is paid on free equity meaning the cash sitting in the account... The bonus is that there is no waiting T3 for profits it comes in the next day...


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## insider (13 December 2007)

There are requirements prior to opening the account such as a job that earns at least 50,000 a year but request a brochure from their website


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## the barry (14 December 2007)

Up almost 5 percent to 3.65 on the tsx at the moment on over 600k through. Looking good for tomorrow.


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## Go Nuke (16 December 2007)

insider said:


> There are requirements prior to opening the account such as a job that earns at least 50,000 a year but request a brochure from their website




Oh well, as a tradie guess that counts me out of that opportunity with them.

Ive been away working in the N.T for a week with no internet of phone coverage......so needless to say I'm thrilled to see BMN closed over $4 on Thursday

Ive got alot of catching up to do with ann etc.

Looks like 2008 is shaping up as a fantastic year for Bannerman (short of the Uranium price falling out, which i doubt)


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## juliovu (20 December 2007)

Hi all, I am new to this stock. I am looking for basic infos on BMN but failed to get its latest results reports and consolidated balance sheets. Anyone could help me with a link. 
Thanks in advance and good decision on stocks.


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## juliovu (20 December 2007)

Some facts that I get after reading BMN ´s annual reports show that BMN got a big loss both in 2007 and 2006. Anyone could correct me if I am wrong. Thanks.


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## Sean K (20 December 2007)

juliovu said:


> Some facts that I get after reading BMN´s annual reports show that BMN got a big loss both in 2007 and 2006. Anyone could correct me if I am wrong. Thanks.



All the information required is at their web site. http://www.bannermanresources.com.au/ Cheers, kennas

PS, in regard to the 'loss', you really need to look into what the company does before being too concerned about that.


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## Sean K (20 December 2007)

Some Nambian company wants a slice of Swakop River which has AA on it, but it's important to note the following that BMN have stated quite clearly.

*



			Points that should be clear:

• The area the subject of the notice covers the northeast portion of the Company’s EPL3345.

• All drilling completed by the company is outside the area the subject of the notice.

• The resource update is in progress and will not be affected by the notice.

• The Company does not expect this notice to cause any delay in the current feasibility and development schedule.

• The proceedings are an attack on the decision of the Namibian Minister for Mines to grant EPL3345 and the Company has formed the view that the proceedings have no proper foundation and are unlikely to succeed.
		
Click to expand...


*So, rest easy people.


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## Go Nuke (27 December 2007)

Running out of time for this resource update by the years end

I'd like to see Bannerman break through that $4 mark again or in my eyes it looks something like a double top


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## Yeti (27 December 2007)

Go Nuke said:


> Running out of time for this resource update by the years end
> 
> I'd like to see Bannerman break through that $4 mark again or in my eyes it looks something like a double top




Hi Go Nuke, I mentioned a double top over a week ago with possible price target of $2.75 or even $2.50 on another site. Nobody was interested in discussing it, which is fair enough, hope we are both wrong. This BMN thread here on ASF seems to have all but died, which is a shame. Not a single word here about the much discussed (elsewhere) court case in Namibia, apart from Kennas' post. We must have all taken his advise to "rest easy"   Let's hope the updated resource announcement is out soon, and that it's a good one.


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## insider (27 December 2007)

Yeti said:


> Hi Go Nuke, I mentioned a double top over a week ago with possible price target of $2.75 or even $2.50 on another site. Nobody was interested in discussing it, which is fair enough, hope we are both wrong. This BMN thread here on ASF seems to have all but died, which is a shame. Not a single word here about the much discussed (elsewhere) court case in Namibia, apart from Kennas' post. We must have all taken his advise to "rest easy"   Let's hope the updated resource announcement is out soon, and that it's a good one.




Happy New year Yeti. I think that with such a news sensitive market it may be a bit hard to call a double top. The recent retracment is brought by general market conditions so it is worth more paying closer attention to the XAO and DJIA and S&P 500. BMN would've been well on its way to 5 bucks if it weren't for the subprime crisis... That's just my opinion.


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## the barry (27 December 2007)

Go Nuke said:


> Running out of time for this resource update by the years end
> 
> I'd like to see Bannerman break through that $4 mark again or in my eyes it looks something like a double top




Hi Go Nuke,

BMN have announced in a recent release to the ASX that the revised resource will be released towards the end of Jan with the final resource to be anounced in March. The longer they push it back the better in my opinion, because they will still be drilling and the resource will be bigger.

Merry Xmas all!


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## the barry (27 December 2007)

Go Nuke said:


> Running out of time for this resource update by the years end
> 
> I'd like to see Bannerman break through that $4 mark again or in my eyes it looks something like a double top




Nice end to the day, interesting story that the sell off at the start of the day was a broker error, people on hotcopper complaining that they had there buy orders reversed.  Probably some work expirience kid with a trigger happy finger. Not much on the sell side to stop this getting to the magical 4 dollar mark again.


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## kariba (27 December 2007)

Go Nuke said:


> Running out of time for this resource update by the years end
> 
> I'd like to see Bannerman break through that $4 mark again or in my eyes it looks something like a double top




Go Nuke

There is no double top threat now ... if it went BELOW the low in the middle (3.25 on Nov 29) then the D/top was on and a retrace to mid-2's was a possibility. As it is she has rebounded nicely and cleared that scenario. However there remains an obvious "resistance" level at the $4.05 area. One would imagine a break through that level will be very powerful indeed.

As Barry has mentioned, management have mentioned in a number of release that the interim JORC is now due end of January. They have stressed that this IS NOT a delay, but rather a direct result of deciding to include MORE area and depth in this resource upgrade. Therefore they have a significantly bigger ares to drill & assay & the drill cores are deeper as well.

So we can expect a real doozy of a resource upgrade end of January ... IMO, and based on my own calculations, this is going to blow us all away!

Cheers


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## Go Nuke (27 December 2007)

Thank you very much guys for clearing up my misinformation on the December resource update and the formation (or lack there of ) of the double top.

To be honest I'm taking a great interest in charting of late, so i would have had to do some reseach on the makings of a "double top" in reference to volume etc but just didn't have the time day as I'm SUPPOSED to be getting treated for my 29th B'day!:bowdown:

Great to hear about the Jan news and yes I'm expecting the news to blow me awayanyway!! (Well compared to some who dont see the potential of bannerman)

As for the court case regarding BMN....personaly I'm not concerned about it hence its not a topic worth discusing for me.

Happy new year guys
Now if u will all excuse me...:birthday:


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## insider (28 December 2007)

Jeez has the volume dried up or what! I really hate low volumes like this. It doesn't give me much confidence because I always believe that the buyers always have the upper hand


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## Sean K (28 December 2007)

kariba said:


> Go Nuke
> 
> There is no double top threat now ... if it went BELOW the low in the middle (3.25 on Nov 29) then the D/top was on and a retrace to mid-2's was a possibility. As it is she has rebounded nicely and cleared that scenario. However there remains an obvious "resistance" level at the $4.05 area. One would imagine a break through that level will be very powerful indeed.
> 
> Cheers



I agree to an extent, but the double top is still a possibility if it doesn´t keep pushing up and breaking that support, as defined. That fact it´s bounced, so far, is very encouraging, but it´s still in play IMO. I described this back here. Let´s hope that support holds. Might depend on the fallout from the legal fiasco. Having said that, current funnymentals are sound as has been discussed at length, and any short term corrections are opportunities IMO.


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## the barry (1 January 2008)

kariba said:


> Go Nuke
> 
> There is no double top threat now ... if it went BELOW the low in the middle (3.25 on Nov 29) then the D/top was on and a retrace to mid-2's was a possibility. As it is she has rebounded nicely and cleared that scenario. However there remains an obvious "resistance" level at the $4.05 area. One would imagine a break through that level will be very powerful indeed.
> 
> ...





Kariba, Just curious, do you think their will be much upside suprise in the january interim resource? I think the majority of the upside suprise will come in the march announcement with the better grades and strikes at depth. 
They mentioned initially that they would drill to 300 meters for the upcoming announcement, i wonder with the extra time they are taking wether in fact this resource might include a greater depth. Based on your calculations, what figure are you looking for come jan and then come march?


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## Sean K (7 January 2008)

My tip for the future for BMN has always been a takeover by probably RIO before they get to production and looks like things are getting interesting along those lines.



> *Rio on the prowl for explorer: report*
> January 6, 2008 - 11:52PM
> 
> BHP Billiton's takeover target Rio Tinto is believed to be considering making its own bid for Canadian uranium explorer Xemplar Energy.
> ...




Xemplar have discovered a new uranium province in the Warmbad area in Namibia, with over 14 alaskyte bodies that outcrop in an area of about 40 kilometres by 28 kilometres. They're currently drilling two. Big Yellow has a strike length of over 3 kilometres and an outcrop width in excess of 300 metres and Gaobis has a length of approximately 4 kilometres and an outcrop width in excess of 800 metres. Assays are pending but are probably going to be in the vicinity of 150-250 ppm I guess. So, depending on how deep these deposits run it could be an enormous project. Current mc is about $800m CAD I think. 

What does this mean for Bannerman? I think in the short term it's probably going to at least put the spotlight on all Namibian explorers as potential takeovers, so I think some sort of takeover premium may start to be added to their value. If the bid does indeed come through, and if the lab results for the drilling show decent grades, a bidding war couldn't be out of the question between a couple of the big players. The loser will be looking for the next biggest potential project perhaps.

Having said that, it's all speculation at this stage.


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## Go Nuke (7 January 2008)

Wow thats interesting reading Kennas!

I'm cant keep up with all the numbers floating around these days but is that a whole lot bigger than what bannerman has discovered? Not including all their other untested areas.

Perhaps i should have bought up on todays weakness, though my holding in BMN is larger than it should be already (even though more results are due by the end of this month).

I really hope it pulls ERN out of the crappy situation their sp is in right now

All in all though i'm expecting it to be a good month for Bannerman, especially if anyone has taken notice of the storey you have just mentioned Kennas.

**Wow just looked at Xemplar chart..OMG hasn't it taken off in the last 12months!**
>70c- $8.70....OMG
Why cant BMN do that?

Where did you find that article by the way?


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## kivvygosh (7 January 2008)

> >70c- $8.70....OMG
> Why cant BMN do that?



Check your charts!  70c up to $8.70 is only an increase of 12.5 times.  In 2006 BMN increased by more than that...!


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## Sean K (9 January 2008)

kariba said:


> Go Nuke
> 
> There is no double top threat now ... if it went BELOW the low in the middle (3.25 on Nov 29) then the D/top was on and a retrace to mid-2's was a possibility. As it is she has rebounded nicely and cleared that scenario. However there remains an obvious "resistance" level at the $4.05 area. One would imagine a break through that level will be very powerful indeed.
> 
> ...



As I mentioned above DT is still a chance here if the general market doesn't find some footing soon. XAO has just broken through significant support at 6200, which could send it quite deep. A 50 point cut will turn it around short term though I think...

In regard to the updated estimate due this month, I think it would pay us all to try and be a little more conservative with the figures we are expecting. I have a hunch that the old BMN 'buy the rumour, sell the fact' principle could be in play, and if everyone keeps going on about 100 and even 160Mt calls then anything closer to 100 could result in a sell off. We know that this upgrade is supposed to be around 100, but I see the numbers 160 flashing around a lot and the junior punters out there may be expecting this. It would be nice if it was a surprise to the upside!!!


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## kariba (10 January 2008)

We are close ... very close!!

Today's trading was sending signals left right & centre!!

Over the last few weeks we have had BMN in the hands of sellers .. IMO the sellers have in fact been accumulators who have stacked the sell side with multiple "piddley" small sell orders.

Today was different ... from the first gong we saw buyers enter the market, and try as they may to hold them back, the sellers had to eventually retreat.

When will the JORC announcement come?

That is the question on the minds of everyone ... 

Can I leave it any longer to buy in cheaply?

If they release the JORC early, any who delay will miss out!

Whatever the reasons for the trading today, it was a seminal day in my opinion & will mark the change in the trading of BMN from here on in.

We just need the DOW to behave itself & not give an opportunity to the "players" to push it down again.

Regardless, we are close ... very close

cheers


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## kariba (10 January 2008)

the barry said:


> Kariba, Just curious, do you think their will be much upside surprise in the January interim resource? I think the majority of the upside surprise will come in the march announcement with the better grades and strikes at depth.
> They mentioned initially that they would drill to 300 meters for the upcoming announcement, i wonder with the extra time they are taking whether in fact this resource might include a greater depth. Based on your calculations, what figure are you looking for come Jan and then come march?




Barry

I have bullish views on the Interim JORC & the Final JORC ... I wont mention numbers, as they are just opinions. But what i love about BMN is that they have "modestly" kept the 100m/lbs as their goal ... despite numerous increases in depth, length, width, grade & intercepts .. you figure!

I am pretty confident that the interim JORC will only be to 300m, if they go deeper they wont make it in time ... as it is I think it will be miraculous if they can get the interim out by end of JAN ... Not saying they wont, it is just the have to contend with the holiday season, and are in the hands of the assay labs.

Your question regards "upside surprise" is a very salient one! You know that the "market" is a hard beast to read or pre-empt, and it is also brutal when disappointed! However, if you please it, it will treat you as sweet as pie! So the question is: How is BMN *generally *viewed? IMO the market in general - and remember that includes the very important analysts, funds, instos, and brokers - has mainly focused on the 27mill lb JORC ... they dont read these b/boards & have not been exposed to rumours etc ... they focus on facts.

Fact: BMN currently have a JORC of only 27m/lbs.
Fact: The ore is low grade, and therefore not economical YET at that tonnage
Fact: The company has only EVER stated their target of 100m lbs
Fact: The scoping study determined that the mine economical at 100m lbs

Now imagine if BMN come out with an interim JORC of around 100m lbs ... what will the market think?

Fact: They have hit their target with ONLY the *interim *JORC 
Fact: BMN now *have* an economical minable resource
Fact: This deposit has another 100m of the highest grade ore still to come!!

IMO, with 100m of the highest grade ore still to be added, anything around the 90m lb will be amazing to see confirmed & will be well received by the market. Knowing that at this point Anomaly A is confirmed as *economical*, and is a goer, making BMN Australia's next confirmed Uranium miner has to be well received by the market.

IMO, we can expect a massive re-rating to occur, more funds will buy, the Canadians who are steadily buying now will jump at BMN. From that moment on BMN will be a changed entity.

We are in very exciting times & the trading action has IMO confirmed that.

cheers


----------



## the barry (11 January 2008)

kariba said:


> Barry
> 
> I have bullish views on the Interim JORC & the Final JORC ... I wont mention numbers, as they are just opinions. But what i love about BMN is that they have "modestly" kept the 100m/lbs as their goal ... despite numerous increases in depth, length, width, grade & intercepts .. you figure!
> 
> ...




Thanks kariba for your response,

Momentum is definately gaining, already up 7.33 percent to $3.38 on 457k through on the tsx tonight. Two good trades of 200k and 250k. Hopefully we will see it carry through to tomorrow on the asx.


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## kivvygosh (11 January 2008)

> As I mentioned above DT is still a chance here if the general market doesn't find some footing soon.



Kennas: What price point would confirm double top?  It looks around 3.25 to me but you may have a more accurate analysis.


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## Sean K (12 January 2008)

kivvygosh said:


> Kennas: What price point would confirm double top?  It looks around 3.25 to me but you may have a more accurate analysis.



It is only confirmed when the support is confirmed broken between the peaks. So, yes, $3.25 is the support, but it looks very strong, going back not just in this recent period but back a year. (see the other highs and lows at this level) This says 2 things to me, that one, $3.25 should hold, and two, that if it does not then the target for the double top is very likely. This is just probabilities of course, anything can and will happen. So much for the change in sentiment for BMN the day before, I agree that it did look like a shift. Goes to show it ´s dangerous to call things on one days price action without follow up. I keep making this mistake all the time.


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## the barry (12 January 2008)

kennas said:


> It is only confirmed when the support is confirmed broken between the peaks. So, yes, $3.25 is the support, but it looks very strong, going back not just in this recent period but back a year. (see the other highs and lows at this level) This says 2 things to me, that one, $3.25 should hold, and two, that if it does not then the target for the double top is very likely. This is just probabilities of course, anything can and will happen. So much for the change in sentiment for BMN the day before, I agree that it did look like a shift. Goes to show it ´s dangerous to call things on one days price action without follow up. I keep making this mistake all the time.





That is true, that is why I think when you use charts as a guide they should be used in conjunction with other factors. The sentiment had changed for bmn, climbing from 3.60 to 3.72 in early trade, following the gains from the previous day, however charts cannot show external pressures such as the dow tanking. Lgl was the same but in reverse, the charts were bearish, tanking from 4 bucks to 2.90 only for gold to bounce and suddenly lgl is a buy again. 
Bmn held up ok on the tsx again last night despite the dow tanking again, dropping 2 percent. Has been some large trades going through which shows interest is gaining over there leading up to the announcement.


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## Sean K (18 January 2008)

kennas said:


> It is only confirmed when the support is confirmed broken between the peaks. So, yes, $3.25 is the support, but it looks very strong, going back not just in this recent period but back a year. (see the other highs and lows at this level) This says 2 things to me, that one, $3.25 should hold, and two, that if it does not then the target for the double top is very likely.



Well, if it holds under $3.25 and is confirmed Monday then DT is a real possibility. The other chart factor is the recent decending triangle that happens to give the same target price at what is a significant long term support area.

While this has moved with the markets at this time, you only need to overlay the XAO onto the BMN chart to see that in general this has moved of its own accord. And, if the theory is that this just moves with the market down, then the same argument could be used for moves up, which of course is heresay.

Long term holders will be happier if $3.25 holds and Helicoper Ben comes out with a .75 rate cut sooner rather than later.


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## coolcricket (18 January 2008)

Jeez, took a real battering today. Closed at 3.01, down 7.67%. A sharp overreaction imo, at these levels I am seriously considering adding to my existing holdings of BMN. Considering no negative announcements, and no sharp decrease in the price of Uranium.


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## the barry (19 January 2008)

Announcement on the tsx, posted it all soley due to the fact it wasn't announcend on the asx friday, assume it will be announced monday. 

Main points though: 

1. further cost reductions
2. Upgrade will be announced this month

Bannerman Resources Ltd. Reports Goanikontes Anomaly A Operational Cost Reductions
Friday January 18, 2:47 pm ET

WEST PERTH, AUSTRALIA--(MARKET WIRE)--Jan 18, 2008 -- Bannerman Resources Ltd. (Toronto:BAN.TO - News)(ASX:BMN.AX - News) is pleased to announce an update to scoping study findings for Goanikontes Anomaly "A."

ADVERTISEMENT

- Opex costs substantially reduced via onsite acid production

- Opex reduction of US$3.18/lb U3O8 (at 26 kg/t acid consumption rate)

- Operating costs reduce to US$22.79/lb U3O8 (HPGR) and US$25.73/lb U3O8 (SAB)

- Capital cost increases to US$430m (HPGR) or US$467m (SAB)

- Capital payback period less than 2 years

- Additional benefit of co-generation of 14MW of power

Introduction

During the completion of the scoping study for Bannerman's Namibian project, Goanikontes Anomaly A, in September 2007 Independent Metallurgical Operations (IMO) identified a number of areas with the potential to reduce the operating costs in the proposed processing plant. The study highlighted that the cost of acid and acid consumption was the single most important component of the operational cost.

Acid Plant

Potential reductions in operating costs from the onsite production of sulphuric acid and the co-generation of power from exothermal heat produced from the burning of sulphur were the basis of a case study undertaken by IMO following the completion of the scoping study in 2007.

Any reduction in the cost of supplying sulphuric acid or in the consumption of acid in the processing flow sheet has a corresponding and significant effect on the overall project economics.

Two acid plants were considered in the study, both sulphur burning plants with co-generating power turbines; a standard plant and an enhanced heat recovery system plant (HRS). The study identified that the additional power production capable in the HRS plant did not justify the additional US$17 million in capital cost nor the additional water used in the cooling circuits of the HRS.

The study looked at various acid consumption rates. The maximum consumption rate of 30 kg/t as used in the scoping study, a rate of 26 kg/t based upon results from subsequent leaching testwork and a lower consumption rate of 20 kg/t. Recent leaching testwork has indicated that 20kg/t is achievable and is consistent with the consumption rate at Rossing.

Capital Costs

The quoted costs for a double contact sulphur burning plant are as follows:



- Standard 1,500 tpd acid plant with turbine US$70 million
- Acid plant with HRS and turbine US$87 million

The quotes were supplied by a South African engineering company engaged in the construction of acid plants and confirmed by IMO's independent study.

The standard acid plant generates a net power output (excluding the power required by the acid plant itself) of 14MW and the HRS option generates 17MW.

Additional infrastructure items would be required including portside handling equipment and stockpiling, on site storage tank and EPCM costs. Capital costs would subsequently increase to US$65.1 million and US$82.6 million for a 26 kg/t rated standard and HRS plant respectively (Table 2).

Total capital costs would increase to US$430 million (HPGR) and US$467 million (SAB) for the standard acid plant option.

This additional capital cost would be paid back in less than two years given reductions in the operating costs and the additional benefits of securing a major proportion of the proposed power requirements.

Operating Costs

The difference in operating costs for both plants was negligible and only the operating cost derived for the standard acid plant was used in the processing plant operating cost comparison.

The results of the case study indicate that:

- The cost of producing acid onsite represents approximately 60% of the cost of procurement.

- An overall reduction (at 26 kg/t) of US$3.18/lb U3O8 (in process plant operating) costs.

- This equates to a reduction of 22.8% for the HPGR and 18.9% for SAB circuits.



Table Process Plant Operating Cost - Variable Demand
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Base Case SAB Option
Study Case ($US/lb U3O8) ($US/lb U3O8)
---------------------------------------------------------------------------
Acid Consumption Rate (kg/t) 20.0 26.0 30.0 20.0 26.0 30.0
---------------------------------------------------------------------------
Acid Procurement Cost 6.03 7.84 9.05 6.03 7.84 9.05
---------------------------------------------------------------------------
Site Power - Acid Procurement 0.33 0.33 0.33 0.85 0.85 0.85
---------------------------------------------------------------------------
A. Total Cost - Acid Procurement 6.36 8.17 9.38 6.88 8.69 9.91
---------------------------------------------------------------------------
Acid Production Cost 3.85 4.90 5.59 3.85 4.90 5.59
---------------------------------------------------------------------------
Site Power - Acid Production 0.16 0.09 0.04 0.66 0.59 0.56
---------------------------------------------------------------------------
B. Total Cost - Acid Production 4.01 4.99 5.64 4.51 5.49 6.16
---------------------------------------------------------------------------
Net Impact (A - B) 2.35 3.18 3.74 2.37 3.20 3.75
---------------------------------------------------------------------------
Process Plant - Acid Procurement 12.14 13.95 15.16 15.12 16.93 18.14
---------------------------------------------------------------------------
Process Plant - Acid Production 9.79 10.77 11.42 12.75 13.73 14.39
---------------------------------------------------------------------------
% Reduction 19.4 22.8 24.7 15.7 18.9 20.7
---------------------------------------------------------------------------

Summary

The Goanikontes Anomaly A project has the potential to be a major producer of uranium on the world scene. The project is ideally located close to existing uranium mines and major infrastructure within a country that has recently been rated as the 2nd best country to explore in (Resource Stocks; 2007 World Risk Survey).

The Scoping Study has outlined the potential for an economic and robust project. The case study for on site acid production is part of the ongoing work that is refining the details for the project economics in areas identified from the Scoping Study with the potential to reduce the operating costs in the proposed processing plant.

On site acid production not only reduces the project costs but includes the security of supply against third party acid procurement and produces a significant component of the overall project power requirements.

Further improvements to the operating costs may be achievable and the work required to assess these improvements will be included within the scope of the Bankable Feasibility Study scheduled to commence in February 2008.

Bannerman is continuing to progress the project towards development in line with the schedule. A resource update for Goanikontes Anomaly A will be completed in January. Drilling is continuing onsite with five rigs and a final resource estimation will be completed following receipt of final drilling data in March.

The information in this report that relates to the Exploration Results, Mineral Resources or Ore Reserves of the projects owned by Bannerman Resources Ltd is based on information compiled by Mr Peter Batten, who is a Member of The Australasian Institute of Mining and Metallurgy and who has sufficient experience relevant to the style of mineralisation and types of deposits under consideration and to the activity which is being undertaken to qualify as Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and as a Qualified Person for purposes of National Instrument 43-101 of the Canadian Securities Administrators.. Mr Batten consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

IMO Pty Ltd has reviewed this report and considers that comments made with respect to the scoping study and metallurgical testwork undertaken to date are accurate.


Contact:

Contacts:
Bannerman Resources Limited
Peter Batten
Managing Director
+61 8 9381 1436
+61 (08) 9381 1068 (FAX)
Email: peter@bannermanresources.com.au


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## Sean K (20 January 2008)

the barry said:


> Announcement on the tsx, posted it all soley due to the fact it wasn't announcend on the asx friday, assume it will be announced monday.



Thanks for the heads up Barry.

Excellent news the opex is going to decrese which in the longer term is great news. Tick.

Disappointing news the capex has increased so much when the scoping study stated it would be under $400m with the scope to reduce. Obviously, no one can get it all right, and it seems to be based on poor advice. Cross.

A two year payback on the capex, means that at the moment, these guys will be making a good profit in relatively short time, as long as POU stays high, which by all accounts seems to be appreciated. And, if POU goes as anticipated, then the $45 price the scoping study was based on looks a little conservative, and should add significantly to the profits from production for the following 3-5 years, or until the turn around in the supply demand equation eventuates. Up for debate on that.

The bears are winning the battle at the moment obviously. Just where is the bottom? My tip is around the 5650 on the XAO longer term support line, which may equate with $2.50 ish for BMN. Or, the bounce on both the XAO and BMN yesterday, could have been a bottom. I still wouldn't discount anything though while the bears have control.


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## the barry (21 January 2008)

kennas said:


> Thanks for the heads up Barry.
> 
> Excellent news the opex is going to decrese which in the longer term is great news. Tick.
> 
> ...




I think the increase in capex costs is directly related to an increase in plant equipment used in the leaching process. This equipment whilst more expensive will attribute the further 3 us price reduction in production. So whilst it may seem dissapointing initially, over the long term of the project it adds value.

I think they will do a similiar thing to pdn with their offtake agreements and lock in 50 percent long term. I would also anticipate that they will get a similiar price to pdn being 90 us per pound. So i think there is significant upside possible to their 45 base price. 

The announcement on friday said they would have the next update available this month, really isnt to many trading days left so i assume it will be some time this week. Soley for that reason i am not sure we will get down to the 2.50 mark, as also the dow doesnt trade monday night so the market may be flat waiting for their direction.Am looking to pick up a few more and then sell down post announcement. Should be an interesting week.


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## the barry (21 January 2008)

News out as expected, nice to note on the final page it states a resource will be completed in Jan.


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## Go Nuke (21 January 2008)

Well it was nice to see BMN finish UP today. I was a bit concerned that the increase in capex would send people selling but that doesn't seem to be the case.

I'm sure this is becasue of the update this month. With any luck some sort of confidence might return to the market to coincide with a great announcement.

I'm curious to know, do you guys "trade" Bannerman..ie sell off some at the highs like $4 ish, or do you just buy and hold even if the sp dips below the price you paid for it becasue of a longer veiw point in the company?

Just trying to get a broader prospective on how others play the stock market.

I have a long view on Bannerman, but don't know if I should be holding if I think the sp will temporarly dip below my buy in price.


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## Broadside (21 January 2008)

With stocks that I have great confidence in, I tend to just buy at what seems a reasonable price, and then hold, don't want to trigger any tax.  I believe it will break all time highs in short order so haven't seen any obvious over valuation which would tempt me to sell.  Would more actively trade stocks I have less faith in, to try and get into a free carry position.


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## Synergy (21 January 2008)

Impressive day for BMN really, Makes me feel about 1% better than I otherwise would have. Even after being hammered down initially it came back very strongly today. Shall we celebrate? I guess not. Looking forward to Feb.


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## Go Nuke (21 January 2008)

Broadside said:


> With stocks that I have great confidence in, I tend to just buy at what seems a reasonable price, and then hold, don't want to trigger any tax.  I believe it will break all time highs in short order so haven't seen any obvious over valuation which would tempt me to sell.  Would more actively trade stocks I have less faith in, to try and get into a free carry position.




Well I guess fortunately for me I fall into the tax bracket of between $30-$75K....and lets just say I'm along way from $75K, so tax isn't an issue for me even if I did sell my shares


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## kariba (21 January 2008)

Go Nuke said:


> Well it was nice to see BMN finish UP today. I was a bit concerned that the increase in capex would send people selling but that doesn't seem to be the case.




The bears, shorters & bot-seller have had a field day the last few days, but sanity prevailed & BMN had a nice recovery on what was a shocker of an ASX day. One would think the rest of this week will see good demand & a rising SP by Friday. Monday is a public holiday, so I expect the JORC to be released Tues or Wed. It could be released on the TSX Monday night, or a Tuesday morning trading halt is my call.

Go Nuke

Their was NO INCREASE to the CAPEX per se. There was an ADDITION to it though. It might sound like semantics, but its not. When there is a rise in the CAPEX because of a "blowout," the market will punish a stock ... But the announcement was clear in stating that they will now procure ADDITIONAL items to build a sulfuric acid plant:

_"*Additional infrastructure items *would be required including portside handling equipment and stockpiling, on site storage tank and EPCM costs. *Capital costs would subsequently increase to US$65.1 million *and US$82.6 million for a 26 kg/t rated standard and HRS plant respectively (Table 2). Total capital costs would increase to US$430 million (HPGR) and US$467 million (SAB) for the standard acid plant option."_

So while they will be paying an extra $65 mill on an acid plant, they further say:

_"*This additional capital cost would be paid back in less than two years *given reductions in the operating costs and the additional benefits of securing a major proportion of the proposed power requirements."_

So the extra $65mill will be payed back in 2 years by the savings ... then it goes into the bottom line ... $34 million EXTRA profit EACH subsequent year of the mine life. The extra CAPEX is a small price to pay. And when you consider the world shortage in sulfuric acid, that wont get any better, they avoid supply delays, price hikes, and the like!!

I am pretty sure that most investors & analysts would have seen this announcement in a very positive light

cheers


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## kariba (21 January 2008)

By the way, the company has left it open for further decreases in opex.

Thi announced said that cost reductions were based on reduced acid consumption from 30 kg/t. to 26 kg/t. However, they further state:

*"Recent leaching testwork has indicated that 20kg/t is achievable and is consistent with the consumption rate at Rossing."*

So once again management blow me away by being conservative with a "*base*-case" figure rather, than titilate the market with "*best*-case" figures ... builds my confidence in them & continues to de-risk the project.

Improvement in grades & radiometric sorting will further reduce opex/lb figures that every day look more & more like miming Rossing results. Then when you think than BMN can sell to current U prices ($90/lb) instead of locked in $25.00/lb prices like Rossing, you get the sense of just how profitable a mine Anomaly A is going to be!

cheers


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## hegemony (21 January 2008)

HI,

Could someone well versed in T/A help me out with BMN pls in confirming or otherwise my research.

Bolinger banding indicates a breakout of the lower band, Relative strength indicators suggest the stock in approaching or in moderately oversold territory but the MACD would indicate that a downward trend has not yet reversed and volume is still well average.

From a T/A perspective this would suggest to a learner (me) that this stock still has the potential to continue a downward trend or at least has not turned the corner yet.

I understand other factors are also at play ie announcements etc....

Just after some help with the T/A pls.

Thanks all...
Russ


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## Sean K (22 January 2008)

hegemony said:


> HI,
> 
> Bolinger banding indicates a breakout of the lower band, Relative strength indicators suggest the stock in approaching or in moderately oversold territory but the MACD would indicate that a downward trend has not yet reversed and volume is still well average.
> 
> ...



Not much to really like about the short term chart really.

In regard to your points.

The break through the BB like it did, can be used as a short term trading indicator. Such a significant break can mean oversold. However, there are plenty of times a stock will continue to slide with the sp poking it's head through the BB to either side.

MACD looks terrible. That long gentle slide to the south is bad karma, and it's even more bearish breaking though the signal line to the downside like that. A more bullish look would be a crossover at the bottom and then the lines going back up through the line.

RSI is no oversold. Minus 80 and you are oversold, so some way to go.

Positives include the bounce off the 200 d ma, which is considered a support line, and the long tails on the last 2 candles indicating buying support on the dips. 

The double top and descending triangle breaks I indicated in an earlier post gave a target of $2.50, which after tonights effort on the overseas indicies might still be a possibility, but it's resiliance yesterday gives some cause for optimism. 

An important note is that none of these indicators can be used in isolation.

All this is great if you're short term trading this, a very active investor, or looking for good entry exit points off technicals.  

Fundamentals haven't changed except for what's mentioned in the last ann which overall seemed positive for the future. This has generally just pulled back and consolidated after a very solid run off the $1.30 bottom, and it's MC had reached a level that the market thought was fair for its stage of development and risk. The next upgrade and comments on final resource, will be cause for further reflection on what type of MC it should have at this point. Then, there is overall market sentiment, appetite for risk, etc etc...

Wonder where the market bottom is?


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## hegemony (22 January 2008)

Thanks for the help, generally agree with the sentiments I could see.  Will wait and see....

Appreciated, thanks,
Russ


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## Sean K (22 January 2008)

kennas said:


> As I mentioned above DT is still a chance here if the general market doesn't find some footing soon. XAO has just broken through significant support at 6200, which could send it quite deep.



Well, it's gone much deeper than I thought, and the DT target has been reached. But golly, in this environment, who's to say what's going to happen next! Right in the lead up to the next estimate. What a shame. If we were in rising prices and appetite for risk this probably would have been pumping. Time will tell it's true value. For now, this line, technically, looks very strong, but if Europe and the US crash tomorrow, all bets are off!! 

Must be made clear, in my mind, the figures from the scoping study and update have not changed. What has changed for this company? The primary one is appetite for risk IMO. While an explorer/developer and you have no earnings, and there are still questions, then you pay the price for market instability and loss of confidence. BMN is paying the price now...


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## Broadside (22 January 2008)

As a long term holder with no intention of selling prior to production, nothing has changed for me but it still feels awful seeing paper value shredded.  The real effect though is that it will be harder to raise fresh capital and we can expect more dilution because of lower priced placements etc.  A shame.


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## Rafa (22 January 2008)

yes BMN's fall is the biggest dent on my portfolio today...
oh well, but how about PDN... i mean, that thing is actually producing stuff!


i am just annoyed i haven't bought anything in this turmoil, but it is easier to sleep at night by not buying in today...


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## the barry (24 January 2008)

"A resource update for Goanikontes Anomaly A will be completed in January," from the last announcement dated on the 21st of this month. By that reasoning we have only a possible of four more trading days (with monday a holiday) to go. Hopefully we are somewhere near the bottom of this correction, but impossible to tell obviously. Would be nice to lose some of the volatility before the announcement, no way that is going to happen though. Still if we are close to the bottom and the announcement is good, will give a chance to maybe add to my position at possible good value with some risk removed before the markets eventually head north again. 
A few decent orders going through today which is encouraging.


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## Sean K (25 January 2008)

the barry said:


> "A resource update for Goanikontes Anomaly A will be completed in January,"



I do hope the general market is not expecting too much from this anouncement. They've been quoted as saying 100m, so just 1m over that and I will be very happy. I'm a little concerned of the short term effects if the uber bullish out there are expecting numbers much larger that will result in a short term sell off. Let's be conservative...

I will be more interested in what else is said for potential future upgrades, and especially whether they have tested the metasediments, and the results. If they are mineralised like Rossing (40%), then the current resource expectations could be blown away. 

Results due today, tomorrow, or Tuesday if on schedule. Or, they could release them Monday in Canada I suppose. 

If they come in with around 100m lbs, with potential to upgrade, as expected, then the fund managers and big brokers will have to put it on the radar. Should provide pretty good support you'd imagine.


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## Go Nuke (25 January 2008)

Might I just add though, on the 30th of May last year when BMN announced their interim resource of 27Mil lbs I interpreted this as great news!!

So what did I do..I bought more and paid $3.45
And what did the share price do after that..yes it headed south to a low of $1.30 on 16th of August.

Now I dont really know _how_ much more important this announcement will be, but I know I wont be racing out to buy more in a hurry based on what I thought was a good announcement the last time

*NOW* that Ive said that....quick go buy more because the sp will probably soar!!:eek3:

*The above comment was intended as a joke so don't go and buy more just because I said so*


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## the barry (28 January 2008)

kennas said:


> I do hope the general market is not expecting too much from this anouncement. They've been quoted as saying 100m, so just 1m over that and I will be very happy. I'm a little concerned of the short term effects if the uber bullish out there are expecting numbers much larger that will result in a short term sell off. Let's be conservative...
> 
> I will be more interested in what else is said for potential future upgrades, and especially whether they have tested the metasediments, and the results. If they are mineralised like Rossing (40%), then the current resource expectations could be blown away.
> 
> ...




I was a bit worried about this as well, having said that though I would think that most of the premium associated with the size has been wiped off with the downturn in the market in general. Anywhere close to the 100 will be great, how the market sees a figure below that is anyones guess, but given these conditions I think it will be punished. Hopefully we see an announcement on the tsx tonight.


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## Synergy (29 January 2008)

Looks to be some additional drill results at the bottom of their quarterly released today. Perhaps someone can decipher them in more detail but it's good to see results continuing to be positive at 300m+.


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## grace (29 January 2008)

mmmm Trading Halt until Friday.  Could be the new JORC you have all been waiting for!  Good luck!.............................


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## Sean K (30 January 2008)

Some good intersections and grades in the recent results. 

I was hoping for more word on potential U in the metasediments. I assumed they were testing for this over the past few months. Either they have found none, or the results are still in the lab. Perhaps it'll come out in the resource upgrade.

Halt is 90% sure to be the resource upgrade. They would have gone into the halt on receipt of the information to give time to write up the ann for release.

Unlikely to be capital raising, this will probably come with the final resource and to take it through BFS for the rest of the year and exploration drilling.

No mention of the litigation in the ann which is unusual. Either they think that it's insignificant, or just don't want the market to be pre-occupied with it. I would have liked an update though, and some more reassuring words perhaps. It is still a cloud that needs to clear.

I'm not sure what part of the schedule has changed but the last para in the summary is heartening.


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## coolcricket (30 January 2008)

Hi guys, this announcement came online sometime between market close and now-

http://www.asx.com.au/asx/statistic...MN&timeFrameSearchType=D&releasedDuringCode=T

The title is - 	"Resource Upgrade - Goanikontes Anomaly A"

Maybe somebody could decipher the geological talk into simple terms, but it sounds good to me.

Hopefully a good day tomorrow.


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## insider (30 January 2008)

coolcricket said:


> Hi guys, this announcement came online sometime between market close and now-
> 
> http://www.asx.com.au/asx/statistic...MN&timeFrameSearchType=D&releasedDuringCode=T
> 
> ...




So much for the 160 Million pound estimate... I wonder how the market will take the news... There seems to be an element of disappointment over at HC... but 72.2 Million is awesome... I don't hold BMN anymore however I sorta wish I did...


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## champ2003 (30 January 2008)

insider said:


> So much for the 160 Million pound estimate... I wonder how the market will take the news... There seems to be an element of disappointment over at HC... but 72.2 Million is awesome... I don't hold BMN anymore however I sorta wish I did...




Hi Insider,

Actually 160 mlbs could still on the cards with the final resource(who knows)? I'll be happy with anything over 110 though, 100 being the minimum. I personally think that 72 mlbs is a fantastic result as i think that BMN is moving in the right direction and fast!


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## dj_420 (30 January 2008)

champ2003 said:


> Hi Insider,
> 
> Actually 160 mlbs could still on the cards with the final resource(who knows)? I'll be happy with anything over 110 though, 100 being the minimum. I personally think that 72 mlbs is a fantastic result as i think that BMN is moving in the right direction and fast!




I agree there, resource was only down to 300 metres and using up to samples from mid December. BMN will get to 100 million pounds of u in AA, which will be a huge result.

I am happy holding now, I think market will be fairly level on this one. If it gets sold down then fundamentally it will be a buy. BMN now valued at around $5 per pound of u.


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## Sean K (31 January 2008)

dj_420 said:


> BMN now valued at around $5 per pound of u.



This an important point to bear in mind even though the resource upgrade is well under (HC) expectations, and mine. I think this has occurred because of an overestimation of the width of the overall resource, especially to the south, and the gaps between the alaskytes at depth. Important to keep in mind is that the market average (from where that's taken I'm not sure) is around $12-14 lbs/u I remember seeing somewhere. BMN are still to come out with their final resource, and the metasediments have not been analysed. Punter's and Hartley's call of 120-160m lbs potential may have to be revised. 100m is still obviously well in ballpark, and what the SS was based on, but it's going to take longer to get that resource finalised. This was supposed to happen in about mid Q3, but they're now putting that back to 'sometime' in the June quarter, which to me means the end of it. A few months behind schedule, probably due to the labs being overburdoned. I'm disappointed that the expectations of this have been overdone, and the fact they have 72m lbs to be expanded to 100m ish, just at AA, is an excellent result by world standards. It still places them to be one of the top few producers, and they have another 10 deposits to drill out....


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## Sean K (31 January 2008)

One important point to note will be the likely add back of %U in the grades after the outstanding chemical assays are back from the lab:



> Coffey has advised that under JORC guidelines more weight is given to chemical assays over radiometric data. Accordingly, as many chemical assays are pending and a large proportion of the resource has been modeled using radiometric data, Coffey has categorised the greater proportion of the resource as Inferred. A small area of closer spaced drilling with largely
> chemical assay results has been classified as Indicated. Coffey also re-calibrated the radiometric data based upon a statistical study by firstly reducing values by 30 to 40ppm and then applying a factor of 0.85 to the result.



The chemical results have generally come in pretty close to the radiometrics from memory, so that should be added in once all the results are back. Once the drilling to 400m is included (assuming it's all mineralised) then the 100m lbs figure should be met. It should also include the overall head grade to be in line with the indicated figure of 234ppm, above the scoping study assumptions. Broker analysis on the 100m lbs assumption gave price targets of between $3.50 and $5.00 (Hartleys, DJs), based on $45 U.


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## Go Nuke (31 January 2008)

Indeed a little disappointing but I guess more so that people were estimating more.

I'm a little concerned that BMN may continue on its down trend now that it looks as though we wont get anymore results anytime soon. Though the share price is virtually back to where i bought in nearly 12months ago,so I'll probably just try and forget about them for the next 12months or so

I could be wrong but it looked to me as though someone (or an institution maybe) is trying to get rid of a fair few shares today.

I simply based this on the number of small parcels (betwen around 5-7k ) placed consecutively on the sell side ie:$2.82, $2.83, $2.84 etc all day.

I suppose it would be a fair guess that perhaps a bigger holder might try to reduce their holding if they were expecting more from todays announcent

I do love that last bit Kennas.....yes another 10 more annomolies to drill


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## the barry (31 January 2008)

insider said:


> So much for the 160 Million pound estimate... I wonder how the market will take the news... There seems to be an element of disappointment over at HC... but 72.2 Million is awesome... I don't hold BMN anymore however I sorta wish I did...




Am i wrong when i read the announcement and they are still targeting 136 mt? Am happy to hold, 30km's of targets to drill on the current tennement alone, not  to mention the tennement next to langer heinrich. They have always stated that the next two targets are there prime ones. Only my opinion but i think if the share price stays at this level then they are a prime take over target.


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## barnz2k (1 February 2008)

grace said:


> mmmm Trading Halt until Friday.  Could be the new JORC you have all been waiting for!  Good luck!.............................




Was the trading halt Canceled on the ann? Did it even last for the 29th? How can the share price change and have volume when there is a trading halt?
_Sorry for stupid questions!_


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## Sean K (1 February 2008)

barnz2k said:


> Was the trading halt Canceled on the ann? Did it even last for the 29th? How can the share price change and have volume when there is a trading halt?
> _Sorry for stupid questions!_



No, fair question, but you need to read the initial halt announcement more carefully. It was in the halt untill the date, _or until the ann was released_. It was out relatively early. 

Apparantly DJ Carmichaels have slapped a $5.75, 6 month valuation on it yesterday. Details should be on the BMN web site in a week or so, for confirmation. I'm yet to actually see it.


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## Sean K (5 February 2008)

This is on the precipice at the moment.

That big rounded top is extremely ugly and has more to play out if MAJOR support at $2.25-2.50 is broken.  Not sure which is more important of those numbers. 

It’s not just following the market, as that’s not it’s long and medium term history to date.  

Needs to reconfirm to the market that 100m lbs at AA is on the cards (maybe a good intersection or 2) and provide some more reassurance that the litigation is bunk.


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## the barry (5 February 2008)

kennas said:


> This is on the precipice at the moment.
> 
> That big rounded top is extremely ugly and has more to play out if MAJOR support at $2.25-2.50 is broken.  Not sure which is more important of those numbers.
> 
> ...




Yep this thing is looking ugly, swapped a lot out before the announcment into lei and bhp so happy to sit back on this but next couple of days could really be a turning point for this company, not looking good on any level.


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## barnz2k (6 February 2008)

Extract from 
http://www.marketwire.com/mw/release.do?id=817412



> Bannerman Resources Welcomes Peter Christians as New Chief Operating Officer
> 
> PERTH, AUSTRALIA--(Marketwire - Feb. 5, 2008) - Bannerman Resources Ltd. (TSX:BAN)(ASX:BMN) is pleased to announce the appointment of Peter Christians to the position of Chief Operating Officer.
> 
> ...




Is this a good thing?.........

Barnz2k.


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## barnz2k (6 February 2008)

kennas said:


> No, fair question, but you need to read the initial halt announcement more carefully. It was in the halt untill the date, _or until the ann was released_. It was out relatively early.




Yeh I saw that, but the notice of halt was released on 29th, and there didnt seem to be a single day of no movement, so was it released on the same day as the notice? Hence no real halt?


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## joelbaby (8 February 2008)

Hi,

Do you have any thoughts on how Bannerman will raise the cash for a $20million BFS??


Joel


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## Sean K (8 February 2008)

joelbaby said:


> Hi,
> 
> Do you have any thoughts on how Bannerman will raise the cash for a $20million BFS??
> 
> ...



Probably just issue shares to institutions here and OS. 

8-10m @ 2.50 ish....

They've probably already sorted out where this is coming from if they're any good. Hopefully not at too much of a discount to whatever it's sp is at the time.

By their own timetable the 'feasability studies' would have already commenced. 

The big question will be where is the money coming from for construction and development of the mine. It will be a combination of debt and equity, or perhaps, a partner....


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## kivvygosh (8 February 2008)

kennas said:


> One important point to note will be the likely add back of %U in the grades after the outstanding chemical assays are back from the lab:
> 
> 
> > Coffey has advised that under JORC guidelines more weight is given to chemical assays over radiometric data. Accordingly, as many chemical assays are pending and a large proportion of the resource has been modeled using radiometric data, Coffey has categorised the greater proportion of the resource as Inferred. A small area of closer spaced drilling with largely
> ...




An interesting point raised on another forum - that the announcement talks about re-calibrating the radiometric data based upon a statistical study.

This seems to indicate that analysts have adjusted the radiometric data to what they believe the chemical assays would deliver, based on statistical analysis.  It does not explicitly indicate that this is along JORC guidelines.

Upon re-reading, I would suggest that JORC guidelines determined that 'the greater proportion of the resources [has been categorised] as Indicated,' but that the JORC guidelines were not the reason for the re-calibration of the data.

Thoughts?  It is not 100% clear in the announcement.


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## the barry (8 February 2008)

kennas said:


> Probably just issue shares to institutions here and OS.
> 
> 8-10m @ 2.50 ish....
> 
> ...




On the raising of capital for construction and development of the mine do you have any idea when they will need to do this and how long it will take to complete the mine?

Hopefully they make an announcement soon on the bfs as the share price is looking set to lag without a boost from somewhere


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## Sean K (9 February 2008)

the barry said:


> On the raising of capital for construction and development of the mine do you have any idea when they will need to do this and how long it will take to complete the mine?



The timetable has been mentioned in their last few presentations. However, due to the lab delays, and delay of the final resource to 'sometime' in the June quarter, it may slide to the right a bit IMO. Not sure if the feasability studies just continue on without that finalised, perhaps so.


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## the barry (13 February 2008)

National investor presentation this saturday in melbourne.

For those interested in attending, email your name and wish to registor for the national briefing in melbourne to the following address

events@amec.org.au

Now that the stock is up 6 percent today i'm back in...lol

If anyone has any questions they want asked let me know and i will try to get answers,

cheersz,

the barry

The National Investor Briefing will be held at the Melbourne Marriott Hotel, Cnr. Exhibition and Lonsdale Streets, Melbourne VIC 3000. Tel: +61 3 9660 1153

Registration will commence from 9.00am located outside the Exhibition Room.

The Agenda for the briefing is as follows:

9.00 - 9.30am Registration, tea and coffee

9.30 - 9.35am Opening Address � Sonia Webster, Manager � Member Development and Marketing, AMEC

9.35 - 10.00am Image Resources Limited Presentation and Investor Question Time

10.00 - 10.25am Ferrowest Limited Presentation and Investor Question Time

10.25 - 11.00am Morning Tea and Networking

11.00 - 11.25am Bannerman Resources Limited Presentation and Investor Question Time

11.25 - 11.50am Reed Resources Limited Presentation and Investor Question Time

11.50am - 12.15pm Grange Resources Limited Presentation and Investor Question Time


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## grace (13 February 2008)

the barry said:


> National investor presentation this saturday in melbourne.
> 
> If anyone has any questions they want asked let me know and i will try to get answers,
> 
> ...




Don't hold BMN, but if you happen to arrive early, could you ask George of Image Resources when we can expect the first JORC on Cooljarloo and Cooljarloo North (only been drilling for a year without a resource!).


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## the barry (14 February 2008)

http://www.haywood.com/pdffiles/BANFeb122008.pdf

Report from haywoods in canada released today. More reading on what everyone knows already. Note that valuations are in canadian dollars.


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## Sean K (16 February 2008)

the barry said:


> http://www.haywood.com/pdffiles/BANFeb122008.pdf
> 
> Report from haywoods in canada released today. More reading on what everyone knows already. Note that valuations are in canadian dollars.



Nice detailed report, but as you say, just rehash. For anyone new to BMN it's worth a read. 100% return in a year? Hmmm, let's wait and see. I was comforted in their assessment of the litigation brought by Savanah. We need that monkey off our backs to ensure the Rossingburg anomalies are in the picture. Savanah's EPL looks to cover them. Technically, we could have seen the end of a W5 down last week finishing around $2.30. A higher low and high would be nice to get it back on track...


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## Go Nuke (20 February 2008)

Oooh not a good day for Bannerman

Could be heading for support at $2 unless we have a good turn around tomorrow.
No idea whats driving the price down


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## Taurisk (20 February 2008)

Hi Nuke

I thought BMN was slowly making its way up and then today it was sold down.  I watched some of the action and there was someone accumulating small amounts of stock (lots of 50 and 100, maybe 150s as well).  I didn't tote it all up, but it must have been a broker, or else who'd be crazy enough to buy in small lots?  The share price was manipulated today.  There probably has to be the right kind of psychological situation for this to work, and, I guess, with the lack of news yet awareness of the value of this stock Mr Manipulator picked his moment.

This kind of broker interest is actually a positive!

DYOR  - I hold BMN.  

Cheers

Taurisk


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## panikhide (21 February 2008)

kennas said:


> This is on the precipice at the moment.
> 
> That big rounded top is extremely ugly and has more to play out if MAJOR support at $2.25-2.50 is broken.  Not sure which is more important of those numbers.
> 
> ...




Well, that support at $2.25 was broken yesterday and there are a fair number of players lining up to buy around $2.10-$2.12, plus more wanting to get in at an even $2. I'm not prepared to buy in yet (I got out for a loss at $2.60). Anyone have any idea how much this downward trend has to play out? Maybe it won't end at least until the next positive announcement?


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## Sean K (21 February 2008)

Go Nuke said:


> No idea whats driving the price down






panikhide said:


> Well, that support at $2.25 was broken yesterday



Pretty ugly isn't it. 

I think the fall is linked to:
U sector in the dog house.
U price falling.
Resource upgrade and likely final resource at AA well under some expectations.
Idiots ramping it too heavily. 
Litigation proceedings from Savanah.
Takeover appeal reduced due to Exemplar focus.
Punters holding cash in the bank instead of taking risks.
The stars aren't aligned.

I hope the fall isn't to do with anything too sinister.


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## Go Nuke (21 February 2008)

> The stars aren't aligned




LOL

Actually i'm keen to know which resource they are going to drill next!

They say they have bigger and better to come in their presentation, so I'm just dying to know whcih one of their many anommolies they are going to drill out next.

I admit the topic of Nuclear power has died off but Ive still no doubt that it will be pushed as a more environmentaly friendly power source than fossil fuels in the near future.
Its not perfect, but hey if we want to save the Barrier Reef we have to stop using fossils.

Go Nuke!


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## Sean K (21 February 2008)

Go Nuke said:


> LOL
> 
> Actually i'm keen to know which resource they are going to drill next!



They'll deploy to both Rossingburg and Ombuga South, I imagine. Couple of rigs at each site scouting to determine which to then prioritise for the next resource. They may also put a few holes into Oshivelli and Ombepo for interest sake. Maybe Ompo too which is the highest tenor airborne radiometric anomaly...Would be nice if they could jag an EXT type of intersection in the early exploration drilling. Would change the sentiment a bit I think.


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## eddyeagle (22 February 2008)

I'm hoping Bannerman finds support at the $2 mark but if it falls through that, it could hit $1.50...


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## Sean K (23 February 2008)

eddyeagle said:


> I'm hoping Bannerman finds support at the $2 mark but if it falls through that, it could hit $1.50...



eddy, you need to provide some more detailed analysis for that here. For example, a chart, or reference to support, or FA valuation....

Cheers,
kennas


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## the barry (23 February 2008)

kennas said:


> Pretty ugly isn't it.
> 
> I think the fall is linked to:
> U sector in the dog house.
> ...




I was hoping that they would have skipped the interim resource upgrade for the reason you state, however having said that with the delays for the final resource that wouldn't have been justified. 
Would have thought though with the crap drill results that exemplar bought out that they possibly may have gone back out from under the takeover spotlight until they shore up some better drill results. I still think rio is more likely to go after bmn due to the synergies involved. 
This price is going to drift with the market I think until the final resource is delivered some time in june. No light at the end of the tunnel for a while.


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## the barry (4 March 2008)

Trading halt - appears as though the equity raising in canada has been completed. Share price seems to have been held around the 2.20 mark of late, will be interesting to see whether the cap raising is at that level.


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## Crumpy (4 March 2008)

taken from TSX site.

Bannerman Resources Announces Equity Financing
16:14 EST Monday, March 03, 2008


TORONTO, ONTARIO--(Marketwire - March 3, 2008) - 

NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION INTO THE UNITED STATES

Bannerman Resources Ltd. (TSX:BAN)(ASX:BMN) ("Bannerman" or the "Company") announced today that it has filed a preliminary short form prospectus with securities regulatory authorities in Ontario, British Columbia, Alberta, Saskatchewan and Manitoba in respect of a public offering of ordinary shares (the "Offering"). The Offering will be conducted through a syndicate of underwriters, led by Haywood Securities Inc., and including GMP Securities L.P., Cormark Securities Inc. and Thomas Weisel Partners Canada Inc.

The Offering will be priced in the context of the market with final terms of the Offering to be determined at the time of pricing. Bannerman plans to use the net proceeds from the financing to develop its Goanikontes uranium project in Namibia, other exploration costs and for working capital and general corporate purposes.

Trading in Bannerman's shares will be temporarily suspended on the Australian Stock Exchange pending finalization of the terms of the proposed Offering.

The Offering is subject to certain conditions including, but not limited to, the entering into by Bannerman and the underwriters of an underwriting agreement and the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the Australian Stock Exchange.

The Offering is expected to close on or about March 27, 2008.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and these securities may not be offered or sold, directly or indirectly, within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and any applicable state securities laws unless an exemption from registration is available. This news release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

About Bannerman

Bannerman Resources Limited is an emerging international uranium producer with projects in Namibia and Botswana and an interest in a license in Australia. The Company's major focus is on the exploration and development of a uranium project in Namibia.

Bannerman is currently focused on accelerating the development of its primary asset, the Goanikontes uranium project located in the world-class uranium country of Namibia and situated on a trend southwest of the Rio Tinto Rossing mine. A bankable feasibility study is planned for 2008 with production planned to commence in 2011.


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## Sean K (4 March 2008)

A few ways to look at this I suppose.

1. Once finances are sorted in this environment it removes some risk for an explorer/developer. Good.
2. Having greater exposure in another market which is resources heavy adds to the shareholder base. Good.
3. If they get it fully filled by the public, good. If it's not filled bad, but the underwriters will pick up the slack.
4. While this has always been the plan, I'll be disappointed if it's done at a discount to the current price and Australian investors, who have propped them up, do not get the chance to participate.
5. If it is done at a discount, the sp could move either way depending on market sentiment at the time. Up is down and down is up at the moment.

So, best guess from me is it could go up down or sideways immediately after depending on the weather and alignment of the stars.


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## Go Nuke (5 March 2008)

Hmmm $2 eh.

Thats a shame.

Thats more than I paid for BMN over one year ago now.
The last lot offered were at about $3 weren't they? Of course they couldn't do that now because of where the sp is today.

As you said Kennas, people like me/us have proped BMN up for the last year

If I had the money I would buy up at $2.

Oh well. Least they will be cashed up and todays market liked it.


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## Yeti (5 March 2008)

Go Nuke said:


> Hmmm $2 eh.
> 
> Thats a shame.
> 
> ...




Not a huge difference, but that is $2 Canadian, or $2.17 Australian. Up over 4% on an otherwise awful day, must be a good sign for BMN.


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## kivvygosh (5 March 2008)

Go Nuke said:


> If I had the money I would buy up at $2.



It's a Canadian only offering so you wouldn't be able to buy any regardless.

I don't have a strong feeling either way but the share price seems to have reacted positively.


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## the barry (5 March 2008)

At least the raising is fully underwritten and there are no incentive options, or shares offered at a discount to entice buyers. Could be seen as a positive and has stopped the share price decline for at least one more day.


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## Sean K (5 March 2008)

the barry said:


> At least the raising is fully underwritten and there are no incentive options, or shares offered at a discount to entice buyers. Could be seen as a positive and has stopped the share price decline for at least one more day.



I've thought $2.25 ish was the bottom. Obviously it's been a bit lower intraday and hovered underneath it, but not too far off. Still waiting for some higher lows and highs to look at buying any more. Still concerned about the various risks associated with any developer. This financing is a step in reducing one over the next year. Need 100m lbs to be shored up now, and U to regain a footing. Let's hope a black swan doesn't land in the pond to skittle us.


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## Go Nuke (13 March 2008)

Wow!!

I'm amazed to come home from work and see BMN *UP*!!

It was getting to those nasty old lows of $1.8x on really high volume for BMN...then BAM it looks like its going to close in the green!:> All in the last 6mins of trading too.

Anyone got any ideas on why there was such high volume? I'm a little stumped there.
I mean the Stochastics say BMN has been hovering around the oversold area for awhile, but other than that....

Mind you, the last time we saw volume like this was the August lows of $1.30, so perhaps based on that we might see a reversal soon?


*Edit..ok while typing this i see BMN has dropped back down to negative territory with the late shares going through...bummer.
I'll shut up now


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## Sean K (13 March 2008)

GN there were a few unusual trades this am on the open. Like 300-500K shares traded in parcels. The sells were placed up and then just as quickly a buyer came in from off screen to take them. They were not Cross Trades, so was some type of prearranged deal. Obviously people with a lot of shares, and a lot of money. I can't see this going unannounced and we should see something in the news soon. Interesting. Hopefully a positive thing.


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## gfresh (14 March 2008)

Cameco has come out and said they may be looking for further acquisitions.. 

http://www.financialpost.com/trading_desk/mining/story.html?id=350015

This probably explains the recent price activity in Bannerman..

Paladin also has received some action as a result, but have come out and denied they've had any approach from Cameco:

http://www.canada.com/saskatoonstar....html?id=614e0766-1b84-44ad-ae36-99a35bd9850d


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## the barry (14 March 2008)

gfresh said:


> Cameco has come out and said they may be looking for further acquisitions..
> 
> http://www.financialpost.com/trading_desk/mining/story.html?id=350015
> 
> ...




Bidding war between, Cameco, Rio and Paladin. BMN should be in double figures in no time.  Now we just need the spot price to head north and we'll be away.


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## Sean K (17 March 2008)

BMN has had a good last few months. LOL 

I sold half at $2.50 to lock in some profits due to the downward trend but have honestly been very surprised by the continued downward momentum. Even with POU and the markets going south I thought this would hold up much much better. Perhaps it's been due to the ordinary JORC upgrade and the litigation. Probably. And maybe less takeover spec due to a focus on other companies in tha area and other alternate M&A action. 

Now coming into the time when additional drilling results should come out, and the final JORC count down to _perhaps_ provide some support. 

Technically, 2.25 ish was support but it's failed. Would be surprised if it held around here. More support between the blue lines IMO. 

For the past month or so, I've been considering some worst case scenarios here due the the SP action. Troubling, and a good reason to be well diversivied if the black swan lands in this pond. I am lmao at some idiot who put his super into this around $4 due to hc ramping...lol.


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## treefrog (17 March 2008)

kennas said:


> BMN has had a good last few months. LOL
> 
> Technically, 2.25 ish was support but it's failed. Would be surprised if it held around here. More support between the blue lines IMO.




agree Kennas - ominous looking chart if long - would want that neckline on the potential DT to hold or we will see - nar.


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## the barry (17 March 2008)

kennas said:


> BMN has had a good last few months. LOL
> 
> I sold half at $2.50 to lock in some profits due to the downward trend but have honestly been very surprised by the continued downward momentum. Even with POU and the markets going south I thought this would hold up much much better. Perhaps it's been due to the ordinary JORC upgrade and the litigation. Probably. And maybe less takeover spec due to a focus on other companies in tha area and other alternate M&A action.
> 
> ...




I think you will find it has more to do with the market in general really than any one specific factor. I am suprised it has held up this well, i really thought we might have seen august lows again. There aren't many speculative stocks that aren't in the same boat as bmn. The share price of bmn's will turn round when the market turns round, no way in hell will it be rallying before that happens.


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## Sean K (17 March 2008)

Barry, I agree with you to some extent, but it's come off more than 50%. From over 4 bucks to 1.80 ish. At the same time, this company has been promoted to be the next FMG etc etc... with rampers sucking people in at it's last peak. I imagine there are quite a few losers out there right now due to the BS being spun from the excitable junior investors (cab drivers and junior IT staffers) who have mistakenly put all their eggs into the wrong basket. 

Having said that, I still think that the medium term price of U is more up, and that AA will be a mine in a couple of years underpinning the MC of BMN. Just what that should be is a pluck, dependant on many many market factors. 

The day to day discussion of this with no new news only contributes to its volatility, and quite paradoxically, to the stress of the 'long termers' who probaby only want steady growth.


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## the barry (17 March 2008)

kennas said:


> Barry, I agree with you to some extent, but it's come off more than 50%. From over 4 bucks to 1.80 ish. At the same time, this company has been promoted to be the next FMG etc etc... with rampers sucking people in at it's last peak. I imagine there are quite a few losers out there right now due to the BS being spun from the excitable junior investors (cab drivers and junior IT staffers) who have mistakenly put all their eggs into the wrong basket.
> 
> Having said that, I still think that the medium term price of U is more up, and that AA will be a mine in a couple of years underpinning the MC of BMN. Just what that should be is a pluck, dependant on many many market factors.
> 
> The day to day discussion of this with no new news only contributes to its volatility, and quite paradoxically, to the stress of the 'long termers' who probaby only want steady growth.




Again, though 50 percent is nothing if you compare it to other ramped stocks, just to name a few gdn, rau, pos, esi the list is endless. To put it in perspective, give it another couple of weeks and the big four banks will be down nearly the same amount over the same period. People are always going to get excited and people are always going to get burnt.


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## Synergy (17 March 2008)

Unless something changes this will always be one I'm prepared to just hold onto. I don't think the fall in SP has been too dramatic given the past rises/falls. Sure the chart looks ugly but there are a lot worse floating around. Anyway, just increase the timeframe on the graph and it looks much better...


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## sheepdip (17 March 2008)

I tend to agree with Barry. I've got half a dozen stocks on my watchlist that have almost identical looking charts over the last 6 months. Run a comparison against some other U explorers and you will find that BMN has fared better than most by a fair way with the sole exception of EXT next door. Spot price of U has dropped ~ 25% in the 6 months also.

Yes the chart is definitely ugly but don't go reading too much into it - many are in the same or worse situations.


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## prawn_86 (17 March 2008)

What I dont understand is that if you think the chart is crap and that it is going to fall further, why not sell out now and then buy at a lower price?


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## Go Nuke (17 March 2008)

Ha, if your like me you bought in over 1 year ago for $2+ with a long term bullish outlook for uranium as a future source of fuel.

Sooo I'm not keen on selling now to make a loss.

I too agree that there are alot worse looking charts than BMN's and once they finalise the JORC and start drilling more of their annomalies the share price may start moving in the right direction again.

As an example, have a look at AGS's chart.
Well over 50% down from thier highs...and still falling.

Even at these low prices, I wont average down in BMN as I'm too heavy in them as it is.
Oh and I need money..lol


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## treefrog (17 March 2008)

Go Nuke said:


> Ha, if your like me you bought in over 1 year ago for $2+ with a long term bullish outlook for uranium as a future source of fuel.
> 
> Sooo I'm not keen on selling now to make a loss.
> 
> ...




nuke - sounds awfully like u do not have a predetermined exit (stop loss) sorted - or is it that you cannot bring yourself to exit there?

most (but would agree not all) traders/investors before buying will have predetermined expectations of why they are buying it - like "I expect it to continue to sawtooth upwards on the weekly chart and I will exit if it fails to hold the uptrend" 
if it doesn't do that you should first exit and then decide your position again

years ago a much more experienced and successful trader than I looked at the charts of the shares I was holding and asked "are they in positions you would be happy to buy them today?" of course I replied in the neg. so he asked "why the devil are you holding them then?"

its an interesting question that we all should be able to convincingly answer


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## Synergy (25 March 2008)

Does anyone know about the progress of this from the Jan 30 ann?

*There are currently, approximately 20,000 drill samples pending chemical analysis at the laboratory.*

There is mention of a final estimate in the June quarter, but I would expect these results to be released before then...


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## Taurisk (25 March 2008)

Synergy said:


> Does anyone know about the progress of this from the Jan 30 ann?
> 
> *There are currently, approximately 20,000 drill samples pending chemical analysis at the laboratory.*
> 
> There is mention of a final estimate in the June quarter, but I would expect these results to be released before then...




Hi Synergy
Nothing about those drill samples as yet, but new ann re "RC drilling results from Guanikontes nearing completion", with some detailed numbers out today.  It's a 3-page ann and the figures look good.  27th March (Thursday) is when the capital raising will be finalised, expect some movement in sp then.  Other than that we'll just have to wait until the overworked labs in South Africa can come up with the results.  There is a good chance BMN already have more results but are waiting until after the 27th to release them, to get some instant upward movement in the sp for their new investors - but this is conjecture on my part only.

Cheers

Taurisk


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## Sean K (26 March 2008)

There's some pretty good intersections amongst those results. 

Would have set the market on fire this time last year with U going balistic. 



> *RC DRILLING AT GOANIKONTES NEARS COMPLETION*
> 
> Highlights:
> 
> ...




Would have liked an update on how the chemical analysis was going. And are these results from chemical analysis? Not clear. 

Also would have liked to see a comment on the litigation which I feel is a nasty in the woodpile right now. 

Wonder what's happened to testing the metasediments? 

Looking forward to the diamond drilling results to 400m which could be a surprise to the upside.



> Summary
> 
> Drilling is progressing according to schedule with the 100m x 50m RC drilling completed. Approximately 85,000m of RC drilling has already been completed by the Company with the deep diamond programme continuing at Goanikontes Anomaly A.
> 
> ...




All still seems to be on schedule which is nice to hear.


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## Sean K (26 March 2008)

Has been quite some time that the chart looked to be going any where but down. It's intraday, but an unusual jump thus far. I'm still looking for a turnaround to add back to my position. Not convinced of this move yet. No volume confirmation yet. Needs some higher lows and highs for any confidence to set back in. I suppose those absolutely confident of the prospects may have added around $1.70 ish, and be happy with that right now, but too early to be smoking cigars IMO.


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## Go Nuke (26 March 2008)

Well it was nice to see BMN finish up 19% today

Not sure if it was anything to do with yesterdays ann or not though.

And yes there are some great hits with the drilling even at depth..

311m to 343m   (32m)      389ppm

346m to 396m   (50m)      224ppm

283m to 296m    (13m)     426ppm

I'm really looking forward to the day they ann they have started drilling at the other resources
I probably should be averaging down but I think having over 40% of my portfolio in BMN, I'm too heavy as it is?

All in all, a good day though. Lets hope it keeps up


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## eddyeagle (27 March 2008)

Bannerman up approx 30% in 2 sessions! Very glad I didnt set a stop loss on this one! Sometimes it pays to have a little faith! 
BMN to list on the Namibian Stock Exchange from 2nd April...


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## Sean K (28 March 2008)

eddyeagle said:


> Bannerman up approx 30% in 2 sessions! Very glad I didnt set a stop loss on this one! Sometimes it pays to have a little faith!
> BMN to list on the Namibian Stock Exchange from 2nd April...



Well, good luck to you eddy, but the hold and have faith concept can come unstuck at times. There are too numerous examples of companies with solid fundamentals that end up been in the dog house, for ever, or at worse go into administration, for whatever reason. Having said that, obviously I've been pretty bullish on this too, but many a black swan has landed in the pool of faith.  

Personally, I think the Namibian SX listing is a PR exercise to keep the Namibians happy which has little fundamental value to the company. I suppose if they keep on the side of the government there, they're less likely to have some two bit mineral stone exploration company try and steal their lease from under them! 

I was doubtful of yesterdays rise being a turn around. One day does not confirm of such. However, the follow through today, with sellers disappearing, looks to be a pretty good sign the trend has changed. Pending any more unsuspected bear news. 

Good luck to you on your no stop loss plan.


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## Sean K (28 March 2008)

Of course, the Namibian listing was to blame for the rise over the last 2 days of course. 



> *Bannerman shares leap on news of Namibian listing*
> 27/03/2008 By: Helen Schuller
> 
> Australian uranium development company Bannerman Resources Limited (BMN) is set to list on the Namibian Stock Exchange (“NSX”), where its flagship Goanikontes uranium project is located. Shares in Bannerman jumped almost 12% on the news.
> ...




So, what would I know?  

This is obviously the first that the market has heard of this. LOL


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## Reefer (28 March 2008)

Was that the article from The Age Kennas.  It is amazing how little research the journos actually do.  There are some good reasons why the sp has increased over the last few days but I doubt news of the Namibian listing contributed much.  BMN was in hindsight pretty good buying at $1.60, the Canadian capital raising imo was never in doubt despite down rampers trying to show otherwise, and the company finally  after three and a half months released some more drilling results, which if nothing else is helping to strengthen the jorc figures.  Agree two days reversal may not be the end of the pain, but we may be through the worst of it now.  Could be exciting days ahead when they start drilling the bright pink areas on the Ombuga site.  So long as the labs don't take three and a half months to process the assays, otherwise we are looking to middle July for any news.


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## Sean K (28 March 2008)

Reefer said:


> Was that the article from The Age Kennas.  It is amazing how little research the journos actually do.  There are some good reasons why the sp has increased over the last few days but I doubt news of the Namibian listing contributed much.  BMN was in hindsight pretty good buying at $1.60, the Canadian capital raising imo was never in doubt despite down rampers trying to show otherwise, and the company finally  after three and a half months released some more drilling results, which if nothing else is helping to strengthen the jorc figures.  Agree two days reversal may not be the end of the pain, but we may be through the worst of it now.  Could be exciting days ahead when they start drilling the bright pink areas on the Ombuga site.  So long as the labs don't take three and a half months to process the assays, otherwise we are looking to middle July for any news.



Yes, sorry, should have referenced it. I found that article on Share Cafe. I think.  I think we're all still hostage to the credit squeeze, and general lack of appetite for risk. I think there's a lot of cash sitting in banks at the moment. Hopefully there's some sort of bottom forming over the coming weeks/months and the money starts flowing back into the markets. Hopefully the next upgrade doesn't disappoint. Looking at the cross sections of AA, I think some people will be disappointed. Lots of waste at depth, while forecasters were making pretty generous assumptions of the total dimensions and therefore tonnage. Just give us 100m lbs BMN and I think that'll be enough. Then punters can start getting interested in the other anomalies...


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## mickqld (31 March 2008)

BMN into trading halt due to director Nathan McMahon and other shareholders notifying the company that part or all of their holdings in BMN were held by OPES Broking. This is having massive ramifications through the markets at the moment involving many companies whos major shareholders and directors used OPES Broking.


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## ChomChom (31 March 2008)

Here is the link... many WA miners could be hit:
http://www.wabusinessnews.com.au/en-story/1/61860/Opes-crash-hits-seven-WA-miners


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## ChomChom (31 March 2008)

Hi, does that mean that when normal trading resumes the share price will drop for sure? What kind of announcement would prevent that? (Stupid question? Sorry, I'm a newbie... just starting... 

Thanks


----------



## the barry (31 March 2008)

ChomChom said:


> Hi, does that mean that when normal trading resumes the share price will drop for sure? What kind of announcement would prevent that? (Stupid question? Sorry, I'm a newbie... just starting...
> 
> Thanks




No it doesn't mean the share will drop for sure. An announcement stating they have found a buyer for the shares will most likely see the share price bounce to the previous close before the dumping began. Nervous wait on this one though. Hope you didn't find your black swan kennas, lol.


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## mickqld (31 March 2008)

the barry said:


> No it doesn't mean the share will drop for sure. An announcement stating they have found a buyer for the shares will most likely see the share price bounce to the previous close before the dumping began. Nervous wait on this one though. Hope you didn't find your black swan kennas, lol.




Possibly Barry but those in the know ( wish I was one of them) seriously dumped stock prior to the halt being called. Is anyone going to fork up much more than current price to take those shares on ?


----------



## the barry (31 March 2008)

mickqld said:


> Possibly Barry but those in the know ( wish I was one of them) seriously dumped stock prior to the halt being called. Is anyone going to fork up much more than current price to take those shares on ?




To many variables to make a call. Wait till the facts are clear before making assumptions, sadly many other companies in the same boat.


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## mickqld (31 March 2008)

the barry said:


> To many variables to make a call. Wait till the facts are clear before making assumptions, sadly many other companies in the same boat.




Going to be very volatile when BMN and others start trading again. Lot of day traders will be hovering waiting to make a quick buck from this sort of situation. Would like to jump in on both BMN and GBG on an early sell off when they start trading again.


----------



## eMark (31 March 2008)

What other companies are caught up in this? Can anyone one find out? Would be interested to know. Thanks. emark.


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## ChomChom (31 March 2008)

It's in the article
http://www.wabusinessnews.com.au/en-story/1/61860/Opes-crash-hits-seven-WA-miners

GBG Gindalbie
BLK Blackham Resources Ltd
CQT Conquest Mining Ltd
BMN Bannerman Resources Ltd
CYL Catalyst Metals Ltd Red Fork Energy Ltd
HDG Hodges Resources Ltd all
ORD Ord River Resources Ltd

Let's see who will make an annoucement first and what the effect will be


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## ChomChom (31 March 2008)

Another interesting article: 
http://www.businessday.com.au/now-for-the-opes-washup/20080328-223z.html
http://www.businessspectator.com.au...OpenDocument&gclid=CMWHzIOit5ICFQ06awodASw2RQ


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## daggs (31 March 2008)

ChomChom said:


> I'ts in the article
> http://www.wabusinessnews.com.au/en-story/1/61860/Opes-crash-hits-seven-WA-miners
> 
> GBG Gindalbie
> ...




Add ADY Admiralty resources to the list, down 7.3% today and broke support of 20c (Closed at 19c)
Director Phillip Thomas has advised the Company that entities associated with him have a margin lending arrangement with Opes Prime with a facility balance of $2.85 million , with a current gearing ratio of 55%. It is now expected that this margin loan will need to be repaid or refinanced as a result of Opes Prime Group Limited being placed into receivership.


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## mickqld (31 March 2008)

As is always the way with these sorts of matters.....QUOTE from Business Spectator
"The two lenders – ANZ and Merrill Lynch – look to be entirely covered. Whether there will be anything left for the unsecured creditors, represented now by John Lindholm of Ferrier Hodgson, is another matter entirely."

The little guys get shafted while the big boys cover their collective a**es.


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## breakeven (1 April 2008)

Mick



mickqld said:


> The little guys get shafted while the big boys cover their collective a**es.




In this case it would appear that while the big boys are Merril and ANZ while the little boys are those previously known as Sophisticated Investors.  Goes to show it is all relative!!


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## ChomChom (1 April 2008)

From http://business.brisbanetimes.com.au/opes-prime-debacle-leaves-directors-in-dark/20080331-22r8.html


The Namibian uranium explorer Bannerman revealed the director Nathan McMahon - the Cazaly Resources managing director famous for fighting Rio Tinto over the Shovelanna iron ore tenement in Western Australia - was among a group of its shareholders who had margin loans with Opes.

*Mr McMahon owns nearly 20 million shares and 6 million Bannerman options *and was buying shares on the market as recently as last month. "I don't think anybody understands what's going on at the moment," he said.


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## Sean K (1 April 2008)

ChomChom said:


> From http://business.brisbanetimes.com.au/opes-prime-debacle-leaves-directors-in-dark/20080331-22r8.html
> 
> 
> The Namibian uranium explorer Bannerman revealed the director Nathan McMahon - the Cazaly Resources managing director famous for fighting Rio Tinto over the Shovelanna iron ore tenement in Western Australia - was among a group of its shareholders who had margin loans with Opes.
> ...



I haven't been able to work out the implications to him just yet either.

However, it doesn't change any of the fundamentals of BMN much I feel. 

If he has to liquidate completely, then it may be a good opportunity for other long term investors. Or, nothing will happen?


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## kivvygosh (1 April 2008)

ChomChom said:


> From http://business.brisbanetimes.com.au/opes-prime-debacle-leaves-directors-in-dark/20080331-22r8.html
> 
> 
> The Namibian uranium explorer Bannerman revealed the director Nathan McMahon - the Cazaly Resources managing director famous for fighting Rio Tinto over the Shovelanna iron ore tenement in Western Australia - was among a group of its shareholders who had margin loans with Opes.
> ...



It's pretty simple, Mr McMahon.  Any shares you held with Opes Prime are now being liquidated so that ANZ get their money back.  They are not your shares and you will likely not see any money from them.

Here's hoping for your sake that all your BMN holdings (and other holdings, for that matter) weren't with Opes Prime.


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## Go Nuke (2 April 2008)

Saw a HUGE cross trade of 6.6Mil shares go through at $1.76 this morning!  

Would that have been the ANZ perhaps??
Huge day for BMN today. I guess at the end of the day the fundies of Bannerman have not changed

I picked up a very small parcel looking for a short term gain


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## Sean K (2 April 2008)

Go Nuke said:


> Saw a HUGE cross trade of 6.6Mil shares go through at $1.76 this morning!
> 
> Would that have been the ANZ perhaps??
> Huge day for BMN today. I guess at the end of the day the fundies of Bannerman have not changed
> ...



Good luck with the trade GN. I'm waiting for the dust to settle a bit, but I may have missed an opportunity. Certainly, there's no fundamental reason to sell on this event IMO. Has nothing to do with the company, except McMahon looks gooselike, and is a minor blip for the overall market. Puts a negative sentiment on it I suppose. But that's all IMO.


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## Go Nuke (2 April 2008)

Gee If I knew more about markets I would almost say that it seemed like the sp was held at the $1.75 mark.

ALL day it just couldn't really seem to get through it meanwhile thousands of trades going through

I mean there are about 111 buyer for 8+ Mil units vs 49 sellers for 455 units (varing of course)

If there are people waiting to buy 8Mil units in BMN does that mean they have buy orders in below what I can see on Commsec? -eg below $1.75.

I assume people have put in some big buy orders down lower incase the sp drops sharply then bounces??


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## mickqld (2 April 2008)

Go Nuke said:


> Saw a HUGE cross trade of 6.6Mil shares go through at $1.76 this morning!
> 
> Would that have been the ANZ perhaps??
> Huge day for BMN today. I guess at the end of the day the fundies of Bannerman have not changed
> ...




Comsec showed that cross at $1.65 as a XTSPOS. Indicating as I understand a cross trade special for overseas buyer. Looks like ANZ found a willing buyer off shore at $1.65.


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## Go Nuke (2 April 2008)

mickqld said:


> Comsec showed that cross at $1.65 as a XTSPOS. Indicating as I understand a cross trade special for overseas buyer. Looks like ANZ found a willing buyer off shore at $1.65.




Sorry my mistake $1.65.

I was at work and posting with my phone

I had no idea what XTSPOS meant.

Who wouldn't buy BMN at these prices if you had that kind of money

Could it have been Haywood? (was that the name of the company issuing shares to the Canadians?)  Can they do that?


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## grizzly1 (3 April 2008)

If there is new substantial holder we will know their identity soon enough, assuming that O/S holders are obliged to issue substantial holder notices. I wonder how long before McMahon has to fess up??


----------



## Go Nuke (8 April 2008)

Ah well at least this explains where those 6.6Mil shares went.

I was right It was ANZ offloading them to Resource Capital funds.

I got out of that short trade today. The buyers seemed to drop off and its turning into a bit of a level playing field buyer vs sellers, so i got nervous........but hey...I *actually took a profit!!*

LOL (thats rare for me if someone new to ASF reads this )

As for Bannerman, I read in one of the previous notices that they had currently completed 80,000m of drilling out of 90,000m before moving the rigs to the other annomolies. How long would it roughly take to drill 5000m of drilling?

I think +- some time in between finishing AA, the next announcement will be the beginning of more drilling outside of AA.

Not sure if this will translate to much of an increase in the share price though. Once some results from those start to come through then *definitely* should see a rise in sp.


----------



## Sean K (18 April 2008)

Seems NM and CJ can't take a trick at the moment. 

Losing gazillions in BMN and now their night time raid to steal Shovelanna off RIO has failed. These boys will be feeling the pinch. Ouch.



> *Cazaly loses iron ore battle with Rio*
> April 18, 2008 - 6:15PM
> 
> Cazaly Resources has lost its three-year battle with Rio Tinto over the ownership of the Shovelanna iron ore deposit after the High Court refused an appeal.




They are the joint MDs.


----------



## maverick11 (19 April 2008)

Go Nuke said:


> How long would it roughly take to drill 5000m of drilling?




4 inch core you would be looking at 100-150m per day (12hr shift) depending on ground conditions.  Closer to 100 than 150 is more likely.


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## Go Nuke (20 April 2008)

maverick11 said:


> 4 inch core you would be looking at 100-150m per day (12hr shift) depending on ground conditions.  Closer to 100 than 150 is more likely.




Ah thank you for that

So lets say around 2 months worth of drilling.

With the ann on the 25th of March saying that 85,000m of drilling had been completed out of 90,000 then they will move the drill rigs to the other annomolies sometimes towards the end of May/ beginning of June.

With the deep diamond drilling continuing at AA.

Do they use the diamond drilling instead of RC to prevent contamination the core sample? (sorry have no idea about drilling)


----------



## the barry (20 April 2008)

Go Nuke said:


> Ah thank you for that
> 
> So lets say around 2 months worth of drilling.
> 
> ...




Final resource estimate is still due at the start of June (emailed Petter Batten and he stated it was still on track). Would also anticipate an announcement in the near future stating that the bfs has been successfully tendered and that work was underway. Drills will move to new targets when drilling at aa is complete which should be in about a month from now.


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## grizzly1 (20 April 2008)

kennas said:


> Seems NM and CJ can't take a trick at the moment.
> 
> Losing gazillions in BMN and now their night time raid to steal Shovelanna off RIO has failed. These boys will be feeling the pinch. Ouch.
> 
> ...




And I read in this weekends Fin that CYL is another that NM was involved in that Opus managed to offload, NOTE its got to be positive that at least there are buyers for his CYL & BMN stakes whereas other sales by ANZ from the Opus mess are proving difficult due to lack of liquidity/buyers. 

Also BLK is another in the NM CJ stable with rain on their parade this weekend in the form of an unfavourable outcome in a bidding process for a russian coking coal methane project.

Doesn't reflect well on BMN that NM has lost a pile, or maybe it does now that his stake is held by ?? Canadian institutions ??


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## panikhide (21 April 2008)

grizzly1 said:


> And I read in this weekends Fin that CYL is another that NM was involved in that Opus managed to offload, NOTE its got to be positive that at least there are buyers for his CYL & BMN stakes whereas other sales by ANZ from the Opus mess are proving difficult due to lack of liquidity/buyers.




I think BMN will get back a volume of buyers now that the ANZ has sold all or nearly all of its holdings after Opus Prime went belly up (see the recent BMN company announcement to this effect). Maybe it will take a little time for the dust to settle and confidence in the stock to return. Surely if the ASX continues to not plummet BMN will come back into favour after good news is released to the market. As far as I'm concerned it's a buying opportunity.


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## mu5hu (23 April 2008)

Does anyone have a theory on the BMN's SP dropping today?

The depth just doesn't seem very strong.

It looked like it was sitting on support levels.

Would anyone else agree that the next support level would be at $1.30??


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## Go Nuke (23 April 2008)

Yep between $1.25 and $1.30 based on historic support and resistance prices.......but dont talk such foolishness! Sif Bannerman will get back down to those levels (says Go Nuke with a tear welling in his eye)

Hopefully an announcement soon will boost the share price. 

Wish I could capitalise on that when it happens.

(ps, after they ann the BFS is someone dares make a T/O bid for BMN you can be sure Im going to reject it!:fu: )


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## peteai (23 April 2008)

Go Nuke said:


> Yep between $1.25 and $1.30 based on historic support and resistance prices.......but dont talk such foolishness! Sif Bannerman will get back down to those levels (says Go Nuke with a tear welling in his eye)
> 
> Hopefully an announcement soon will boost the share price.
> 
> ...




Yeh I agree Go Nuke, I sure won't be happy if they get taken over
What has caused BMN to be battered so far - Anyone aware of more forced selling or is there some thing the sellers know that we don't ?

IMO BMN is pretty solid and it is practically a definite that it will be mining

Cheers!


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## kivvygosh (23 April 2008)

peteai said:


> IMO BMN is pretty solid and it is practically a definite that it will be mining



Nothing is 'definite'... but they do seem to have a very feasible project.

Price drop could be due to a number of things:
- continued drop in U308 spot prices
- sudden surplus of stock due to Opes Prime fiasco
- embarrassment of director's shares being lost in Opes Prime fiasco 
and ongoing things like water & electricity supply in Namibia, legal action against BMN in Namibia, etc.

Of course overall sentiment not good at the moment either.

If you are a believer then it is exceptional value at these prices, but at the same time you might simply be locking in more losses...


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## Synergy (23 April 2008)

kivvygosh said:


> If you are a believer then it is exceptional value at these prices, but at the same time you might simply be locking in more losses...




I'm going with exceptional value for the moment and topped up today. I haven't seen anything to change my mind for the long term prospects.


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## treefrog (23 April 2008)

are you guys aware that uranium is on the nose lately plus;
we have the next two months where there is likely to be some "bringing to book" of this years capital losses
holders who bought BMN >$3 may start selling also so that 1.10 support level may be another buy opportunity -  without some very good news


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## mu5hu (25 April 2008)

The bollinger bangs for the SP has taken a sharp turn inwards. I ain't an expert but whenever i've seen that, the price will sharp jump or drop in price soon after.

And in the current trend, which is down, it prob will jump down... as much as i don't want it tho.. since i have some holdings in it...

Lets hope i'm wrong...


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## Go Nuke (28 April 2008)

Hey just too make me feel a bit better....is anyone else holding a decent loss on Bannerman at the moment??

**Think long term Andrew...long term**


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## Synergy (28 April 2008)

I think most people writing in the thread are holding at a reasonable loss.

Today ended more positive than it looked like doing at lunch time and it was good to see some support come in to lift it back to even. At least with something that trends as strongly as BMN does we might be able to recognise the bottom fairly quickly. I'm guessing the $1.30 today might be as low as we get here. Can only hope.


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## mu5hu (28 April 2008)

Well yeah I hold a small loss atm but i'm just hoping for a good profit! Anyone got a target SP for BMN?

And i do agree $1.30 was a support level and LETS ALL HOPE it holds!! haha
Same level was supported on 16th August so looks good for support and hopefully bounces around.

Nice Hammer formation too to maybe signal a reversal?


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## peteai (29 April 2008)

Go Nuke said:


> Hey just too make me feel a bit better....is anyone else holding a decent loss on Bannerman at the moment??
> 
> **Think long term Andrew...long term**




Hey Go Nuke,

I got in at $2.20 so I'm sitting on a decent loss here.
I see no point selling because as long as there is good change they'll get a mine going BMN is good value IMO ...... so I persevere 

Cheers,
Peteai


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## jonojpsg (29 April 2008)

Go Nuke said:


> Hey just too make me feel a bit better....is anyone else holding a decent loss on Bannerman at the moment??
> 
> **Think long term Andrew...long term**




Decent loss - I think that's what buying at the top ($3.80!!) would qualify me for, DOH 

I too am holding out for future gains though - if a comparison is drawn with PDN which has a current MC of $3-4bn although not sure what reserves they have??, then BMN which are aiming to produce similar annual amount should run to $20-$30 by 2010. Probably a long bow to draw and it doesn't take into account capital raisings required to fund mine and plant development, but it is still a pretty solid expectation that BMNs market cap by 2010 will be considerably higher than it is now.  

Worth hanging on to IMHO.


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## Synergy (29 April 2008)

Finally some relief perhaps. Up over 20% from its $1.30 low yesterday on reasonable volume. Hopefully the next couple of days sees this support continue and we can jetpack out of these doldrums!


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## mu5hu (29 April 2008)

One thing I'd thought i just throw out there is that even tho it was a great day, does anyone else think this might be a bull trap.

See attached image. On the downtrend, there have been several times it looked like a reversal but it failed. 

So its just something i think there should be caution taken.

Any one else have any opinions?

I hope it will reverse and hold up strongly since I do hold shares but hey thats share trading for you!!!


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## Sean K (4 May 2008)

mu5hu said:


> One thing I'd thought i just throw out there is that even tho it was a great day, does anyone else think this might be a bull trap.
> 
> See attached image. On the downtrend, there have been several times it looked like a reversal but it failed.
> 
> ...



Not necessarily bull trap, looks like a nice higher low and high and that rejection of the low dragonfly in retrospect may be the bottom. Yes, this has happend 3-4 times since the double top and capitulation with the markets and Opies etc, but with the change in general market financial sentiment, I ´m plucking a bottom. That ´ll come back to bite me.


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## panikhide (5 May 2008)

kennas said:


> Not necessarily bull trap, looks like a nice higher low and high and that rejection of the low dragonfly in retrospect may be the bottom. Yes, this has happend 3-4 times since the double top and capitulation with the markets and Opies etc, but with the change in general market financial sentiment, I ´m plucking a bottom. That ´ll come back to bite me.




I'm going to hold off buying more just yet. It's been a very steep recovery over the last couple of days. Hopefully 1.30ish was the bottom, but $2 might be achieved only after a little rest first.


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## Sean K (6 May 2008)

panikhide said:


> I'm going to hold off buying more just yet. It's been a very steep recovery over the last couple of days. Hopefully 1.30ish was the bottom, but $2 might be achieved only after a little rest first.



Breaking 1.75 looks to be very important to me, and strengthens my opinion of a potential bottom. Where`s the downward trend line go you reckon? May have also been 1.75. I'm not getting too excited yet, but feeling more comfortable in holding now. My last buy was at 1.80 on the downward march, so will be happy to see that recovered.


----------



## panikhide (7 May 2008)

kennas said:


> Breaking 1.75 looks to be very important to me, and strengthens my opinion of a potential bottom. Where`s the downward trend line go you reckon? May have also been 1.75. I'm not getting too excited yet, but feeling more comfortable in holding now. My last buy was at 1.80 on the downward march, so will be happy to see that recovered.




I'm with mu5hu. I'm feeling pretty cautious and waiting for the sp to retrace - maybe to support at $1.55 - $1.60. I'm also waiting for the next calamity to come out of the US.


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## mu5hu (7 May 2008)

MM things are starting to look better but a tad cautious. Buyers are out weighing the sellers atm but it could turn around. Hopefully it gets support around the $1.70 mark *cross fingers* or higher and keeps moving!.

So it could be consolidating which could explain the small dojis for the last couple of days.

CMON BMN CMONNNNNNNNNNN!!!! haha


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## Go Nuke (8 May 2008)

Ahh news out guys.. initial drill results from Oshiveli Prospect.

http://imagesignal.comsec.com.au/asxdata/20080508/pdf/00840345.pdf

Some great hits there including 

*7M @ 913 ppm*

I guess it makes sence to drill the Oshi prospect first given its close proximity to AA. This just further strengthens BMN as the next big uranium player in my opinion!

And with alot more drilling and prospects to go
Still looking forward to Rossingburg and Ombunga being drilled

Do you guys think BMN was overvalued when it was $4?
Was just curious.


----------



## mu5hu (8 May 2008)

Hrm think its a bit weird with good news that there wasnt much commotion on the SP.
maybe ppl knew about it on the 2nd and 5th of may which would explain those 2 strong days? and the really lull few days.
low volume as well today. onli 200th on drilling results.

who knows...


----------



## barnz2k (12 May 2008)

Yep sittin on a loss here. I bought in around $3.5 I think it was 
Bought in both FMG and BMN at same time - so together they even out each other haha. Hoping BMN catches up in the longterm.


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## Sean K (18 May 2008)

Yes, I`ve been waiting for the next calamity out of the US, but the market`s a strange beast at the moment. It's been a fantastic rebound on the ASX really. The market seems to think we`ve seen the worst perhaps? 

At this stage it looks like the bottom is in, as mentioned above. It`s now making some nice higher highs and lows giving me more confidence. 

Anyone got a roundabout date on when the next JORC is due? End of month?

I hope they`ve sorted out the chemical testing so they have a higher level of confidence in the JORC and don`t have to discount it again, but I am anticipating it.


PS, this is the best estimate I have on the JORC. From their web page.



> The Company is moving the Goanikontes Uranium Project forward with the intention to bring it into production as early as feasible. In this regard, drilling is continuing with the aim to produce a final resource estimate *prior to June 2008*. After such time, the Company expects to commission a feasibility study in respect of the Goanikontes Uranium Project.



Not long to wait.


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## the barry (18 May 2008)

kennas said:


> Yes, I`ve been waiting for the next calamity out of the US, but the market`s a strange beast at the moment. It's been a fantastic rebound on the ASX really. The market seems to think we`ve seen the worst perhaps?
> 
> At this stage it looks like the bottom is in, as mentioned above. It`s now making some nice higher highs and lows giving me more confidence.
> 
> ...





Final Jorc won't be out till the end of june, maybe start of july. Anyway on the positive side bmn was up 22 percent on the tsx on friday night albiet on small turnover which is nearly over $2 bucks australian. My broker told me on friday that the U sector was coming back in favour with the insto's and he was buying pdn and era. Hopefully things are starting to look back to the positive.


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## Sean K (19 May 2008)

the barry said:


> Final Jorc won't be out till the end of june, maybe start of july.



Barry is that from the company? Can`t understand why they wouldn`t update their website, or announce the change. Perhaps they have and I missed it?


----------



## MR. (19 May 2008)

PALADIN PDN up 9% today market cap 3,311 million
ENERGY ERA up 6.6% today market cap 4,082 million

BANNERMAN BMN up 7.7% today market cap 262 million

I might just wait. ie: Hold.


----------



## the barry (19 May 2008)

kennas said:


> Barry is that from the company? Can`t understand why they wouldn`t update their website, or announce the change. Perhaps they have and I missed it?




Hey mate, emailed petter batten a little while back and he stated it was to come out end of june, at latest start of july. Also said the bfs would be tendered out very shortly as anticipated. Whole U sector is coming back into favour at the moment, so a few positive strikes on the new drill targets and a sizeable resource at aa and we could be up and away again.


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## the barry (19 May 2008)

MR. said:


> PALADIN PDN up 9% today market cap 3,311 million
> ENERGY ERA up 6.6% today market cap 4,082 million
> 
> BANNERMAN BMN up 7.7% today market cap 262 million
> ...




I am in agreeance, stock just needs to double and I will be up on all my holdings.  Good times.....lol


----------



## Schmuckie (21 May 2008)

300,000 shares as a single block crossed the floor during Tuesday morning trading on the TSX.  At last check (shortly before 11:00 a.m. local time), it was up to $2.00 Cdn.


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## the barry (21 May 2008)

Schmuckie said:


> 300,000 shares as a single block crossed the floor during Tuesday morning trading on the TSX.  At last check (shortly before 11:00 a.m. local time), it was up to $2.00 Cdn.




Due to ffs announced, read below: Looking good. 

Re:   News Releases - Tuesday, May 20, 2008
      Bannerman Resources Commissions GRD Minproc for Full Feasibility
      Study
=======================================================================

Perth, Australia -- May 20, 2008 -- Bannerman Resources Ltd (ASX: BMN,
TSX: BAN, NSX: BMN) ("Bannerman" or the "Company"), an Australian-based uranium mine development company, is pleased to announce that a contract has been awarded to the engineering construction company GRD Minproc, a subsidiary of GRD Limited (ASX:GRD), to produce a Full Feasibility Study (FFS) for the development of a uranium mine at the Goanikontes' Anomaly A project in Namibia 

GRD Minproc is an international engineering contractor with offices on three continents and has successfully completed over 200 projects and 300 feasibility studies in over 30 countries. Its recent uranium experience includes the EPCM contract for the Langer Heinrich uranium mine in Namibia, the feasibility study for the Kayelekera uranium project in Malawi and the feasibility study on the Bakouma uranium project in the Central African Republic, together with several other feasibility studies on uranium projects in Africa and Australia.

Work on the FFS will commence immediately and is expected to continue through to the first quarter of 2009. The work will include management and design of the proposed mine, process plant and infrastructure and will provide the basis to progress Anomaly A from a resource to a producing mine.

The work will be managed by Minproc's Perth office in conjunction with their African office and various sub-consultants based in Australia and Africa.

"This is a very significant milestone for the Anomaly A Project and Bannerman Resources. With the appointment of GRD Minproc the scale and pace of development at Anomaly A will accelerate dramatically as we move from explorer status through to construction and major producer status. GRD Minproc has been operating in Africa for almost 20 years and has significant depth of capability in project delivery in all regions of Africa. With an impressive background in uranium mining projects and a standing as a world class engineering consultant amongst the international financial community, we believe we have brought together all the right ingredients to enable us to progress our Anomaly A Project and establish our mining operation in Namibia," says Peter Batten, Managing Director of Bannerman Resources.

GRD Chief Executive Officer Cliff Lawrenson said GRD Minproc had earned a strong reputation as a world leader in uranium engineering through its involvement in studies and projects for the most prominent uranium producers and developers in the southern hemisphere.

Qualified Person
The information in this release that relates to the projects owned by Bannerman Resources Ltd is based on information compiled by Mr Peter Batten, who is a Member of The Australasian Institute of Mining and Metallurgy and who has sufficient experience relevant to the style of mineralisation and types of deposits under consideration and to the activity which is being undertaken to qualify as Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and as a Qualified Person for purposes of National Instrument 43-101 of the Canadian Securities Administrators

About Bannerman

Bannerman Resources Limited is an emerging uranium producer with interests in two properties in Namibia and a number of properties in Botswana and Australia. Its principal and most significant asset is its 80% interest in the Anomaly A project located in the world-class uranium country of Namibia and situated on a trend southwest of the Rio Tinto RÃ¶ssing uranium mine. 

Bannerman is currently focused on accelerating the development of Anomaly A and the company expects to bring its Anomaly A deposit into production in 2011.


ENDS


----------



## 56gsa (21 May 2008)

the barry - what does a full feasability study encompass - does this include the bankable feasibility study??  doesn't mention this and I guess you need the finance boys in for that?

I looked back at what was happening to PDN during their feasability study period.....

in mid-2003 PDN moved from pre-feas to bankable feas, they had less than $10,000 in the bank, there was excitement because u3o8 hit US$10/lb and as has been written into folklore now, in June 2003 you could still buy PDN for less than 1 cent a share...​here's hoping this FFS gives BMN the same lift-off!


----------



## eddyeagle (21 May 2008)

Bannerman is up 48% since its low of 1.41 on the 23rd April! Not a bad return if you bought at the bottom! Keep going up please! 

From a charting perspective I reckon there could be resistance around the $2.25 mark but hoping we can smash through that!

As a comparison to Paladin, PDN is up around 42% since April 29...


----------



## the barry (22 May 2008)

Announcement on the Tsx. 

Looks like another monstor deposit coming up.

Drilling has commenced at Rossingburg '13' located in the same concession and immediately to the north of Bannerman's advanced project Goanikontes Anomaly 'A.' 

From a ground survey completed in 2007, Rossingburg exhibits a 4.5 km outcropping alaskite body which possibly extends under cover to 6 kilometres.

Spectrometry reading highlights:
85 m @ 240 eppm U3O8
45 m @ 247 eppm U3O8
33 m @ 221 eppm U3O8
32 m @ 215 eppm U3O8


----------



## the barry (22 May 2008)

56gsa said:


> the barry - what does a full feasability study encompass - does this include the bankable feasibility study??  doesn't mention this and I guess you need the finance boys in for that?
> 
> I looked back at what was happening to PDN during their feasability study period.....
> 
> in mid-2003 PDN moved from pre-feas to bankable feas, they had less than $10,000 in the bank, there was excitement because u3o8 hit US$10/lb and as has been written into folklore now, in June 2003 you could still buy PDN for less than 1 cent a share...​here's hoping this FFS gives BMN the same lift-off!




Yeah, the ffs is like a bfs and pfs and all the other feasability studies rolled onto one. Is a good thing, provided the end result is positive.


----------



## Sean K (23 May 2008)

I don't understand this. This guy is a fund manager, although he did shuffle some dirt around at some point.

He lives in NY? What does this anticipate? A listing on the Nasdaq? LOL



> ASX RELEASE
> 23 May 2008
> GEOFF STANLEY ACCEPTS POSITION AS CHAIRMAN OF THE BOARD OF DIRECTORS FOR BANNERMAN RESOURCES
> 
> The Board of Directors of Bannerman Resources Ltd. (ASX: BMN, TSX: BAN, NSX: BMN) is pleased to announce the appointment of Mr. Geoff Stanley as Non-Executive Chairman of the Company effective immediately. Mr. Stanley is based in New York and will replace *Mr. Alastair Clayton who will step aside *from the role of Chairman effective immediately.



And WTF did Clayton do? 'step aside immediately', geezes!! It's like he's been having it off with the Captains wife............

Management goes down one notch with NO explanation for the move, and hiring some guy who is sitting in an ivory castle in the Big Apple, who hasn't even touched foot in Namibia except maybe with Biliton 30 years ago, or on a game hunting expedition! 



Someone got something nice to say???


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## TheAbyss (23 May 2008)

Well i think this may well be the making of Bannerman. What did Wayne Richards do for BRM? A hell of a lot. Geoff Stanley brings a lot of credibility to BMN IMO. A wealth of mining and MONEY experience.
.

See quote below from BMN on what they expect form Stanley so that tells us what they are looking to do in the near term. 

We are very pleased to welcome Geoff Stanley to the Board," says Peter Batten, Managing Director and CEO of Bannerman Resources. "Someone of Geoff's calibre brings a wealth of experience and recognition in both the Australian and North American capital markets. We are delighted to continue to attract world class talent to the company and look forward to his important contribution as we guide the Goanikontes uranium project through the design and financing stages and through production."

Mr. Stanley serves on the Board of Directors for Crescent Gold Limited, also an ASX and TSX listed gold producer.


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## Sean K (23 May 2008)

There's several ways to assess a directors capability, committment and interest in a company, and one way is how much money they want to committ to it, hopefully their own, and not borrowed! 

Mr Goeff Stanley, the fund manager in NY, has.....

drum roll.....

NIL!

Let's hope he thinks it's a good investment in the future. When he gets to understand the continent it's on, and what it does. 

LOL


----------



## TheAbyss (23 May 2008)

Give him a chance. We shall see if a notice re his new shareholding eventuates or not. A good indicator for sure. I just didnt expect one as yet


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## Sean K (23 May 2008)

TheAbyss said:


> Give him a chance. We shall see if a notice re his new shareholding eventuates or not. A good indicator for sure. I just didnt expect one as yet



Yes, let's give him one, of course, but you need to stand back and look at these things with some perspective. The one eyed football supporters will only see all the positives. Those who have been around the traps may see things more objectively. So far, I have alarm bells ringing really. And, I'm not a fanatical football supporter. 

So, happy if someone can please tell me why this is so good..

Cheers.


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## TheAbyss (23 May 2008)

I thought I did have perspective. I do not own any BMN and never have.

Sure, the departing Mr Clayton must have had some pretty good reasonons or done something politacally damaging to relinquish or lose his position. What it is we may well never know.

Either way they do have a pretty able replacement in Stanley form my perspective. Good or bad for BMN? Time will tell. I do know once BRM obtained a highly skilled leader they got some very good traction and started making some good impressions. Sure 1b tonnes of IO helped enormously also but I suspect BRM knew that before they hired a leader to take them to new heights. What if that same reasoning is why Stanley is now on board?


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## Schmuckie (23 May 2008)

kennas said:


> I don't understand this. This guy is a fund manager, although he did shuffle some dirt around at some point.
> 
> He lives in NY? What does this anticipate? A listing on the Nasdaq? LOL
> 
> ...




The juniors and the intermediate players need directors with investment management experience in major markets such as London and New York right now.  With the current credit crunch, access to less-known sources of funds or more sophisticated contracts with more parties to spread the risk is the only way the smaller companies can move ahead to finance projects, IMHO.


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## Go Nuke (23 May 2008)

Does this mean much or is it something you get off a Weet Bix box?



> Geoff has been a highly ranked analyst in the Australian, Canadian, and US equity markets, earning numerous
> prestigious awards including number one ranking in the Wall Street Journal's "Best on the Street" survey in the
> Metals and Mining category.




_taken from the WA Business news_

Sounds ok to me
At least it sounds like he may bring some new attention to Bannerman if he has connections with Wall Street in some way, shape or form.

But I agree, it will be good to see him buying the company using some of his wealth


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## Sean K (23 May 2008)

Go Nuke said:


> Does this mean much or is it something you get off a Weet Bix box?
> 
> But I agree, it will be good to see him buying the company using some of his wealth



I think Chris's, Capt Johns's and Halba's CVs add up to much better. Then, add it Daz and you have a real management group. 

I do really need to check the background of this dude before making an 'informed' decision, but on the surface of it, it's confusing.

Especially confusing because this guy doesn't seem to have any experience bringing a uranium mine to production....

Maybe he's good at darts or something?


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## gfresh (23 May 2008)

Often these changes can be fairly sudden, it doesn't necessarily mean any problems. Maybe Mr Clayton has realised he has too much of a workload, or has been offered a prime position on the board of another larger co, or there may be some conflict of interest if he's going to another U miner. Who knows. 

I think Geoff *seems* to be a good selection, and of course will have to prove himself. The US connection to me would seem to be a vital for a company such as Bannerman. Who gives a toss about Australia, we don't have any clue to the benefits of Uranium as the rest of the world is moving and upgrading their power generation to nuclear. So having somebody with experience, and some respect in the US market is a good hat to have. 

The financial side pointed above is a bonus, and also, securing long-term supply contracts with US nuclear power companies (or the like) is going to be what bannerman is going to require in the near distant future if it is to become a successful producer. Would seem to me you'd want somebody in the US (or another large centre) for that sort of thing.

As a straw poll, you're outvoted Kennas :


----------



## Sean K (23 May 2008)

gfresh said:


> As a straw poll, you're outvoted Kennas :



Yep, but I WANT this to be good!!!! Damn it!!!! And I'm disappointed, so far.

What's the count above. 

1 against
3 for
1 abstained


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## Rafa (23 May 2008)

kennas said:


> Yep, but I WANT this to be good!!!! Damn it!!!! And I'm disappointed, so far.
> 
> What's the count above.
> 
> ...




fella's calm down, there is only one poll that matters, the share price...
so far, down 3 cents on a generally down day, with marginally below average volume, i think that points to either
1. no ones read the annoucement
2. its been understood and neither positive or negative.

verdict: neutral.


----------



## SGB (23 May 2008)

kennas said:


> I think Chris's, Capt Johns's and Halba's CVs add up to much better. Then, add it Daz and you have a real management group.




HE HE HE

Nice one.

If you go back to page 110, you'll also get so handy money managment advice.


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## 56gsa (24 May 2008)

What was Andrew Forrest good at before he jumped on board with Anaconda - it certainly wasn't an understanding of the chemical cocktail required to extract laterite nickel...  he was good at getting people to part with their investment dollars, and governments to join the party...  

This is how I read the ann of Stanley joining - he doesn't need to go to Africa to check the drill holes or even find Livingston (sorry!) - he needs to do the rounds of the plush NYC leather couches convincing people to part with their cash so BMN moves to production - this is a different world remember than when PDN was seeking capital - MOL for example (which also was led by an investment guy) delayed its finance search  although i think has just put a investment banker on their board

but be interested to know what goals Stanley has kicked in the past regarding this sort of exercise....


----------



## Sean K (24 May 2008)

56gsa said:


> What was Andrew Forrest good at before he jumped on board with Anaconda - it certainly wasn't an understanding of the chemical cocktail required to extract laterite nickel...  he was good at getting people to part with their investment dollars, and governments to join the party...
> 
> This is how I read the ann of Stanley joining - he doesn't need to go to Africa to check the drill holes or even find Livingston (sorry!) - he needs to do the rounds of the plush NYC leather couches convincing people to part with their cash so BMN moves to production - this is a different world remember than when PDN was seeking capital - MOL for example (which also was led by an investment guy) delayed its finance search  although i think has just put a investment banker on their board
> 
> but be interested to know what goals Stanley has kicked in the past regarding this sort of exercise....



Yep, good points, let's hope he's a good deal maker. I can't really see what else he's value adding just yet.


----------



## the barry (3 June 2008)

Starting to gather momentum, something is in the wind. Starting to show some strength which has been a long time coming.


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## Sean K (3 June 2008)

the barry said:


> Starting to gather momentum, something is in the wind. Starting to show some strength which has been a long time coming.



I agree Barry. But it might be just part of the recovery since the 'bottom'. Nice and steady higher lows and highs, looking ok. Would like to see a nice finish on today. And, perhaps there is something up? They are doing a bunch of exploration drilling and the next JORC is approaching.


----------



## the barry (3 June 2008)

kennas said:


> I agree Barry. But it might be just part of the recovery since the 'bottom'. Nice and steady higher lows and highs, looking ok. Would like to see a nice finish on today. And, perhaps there is something up? They are doing a bunch of exploration drilling and the next JORC is approaching.




I think it is part of gradual build up of expectation as we draw within site of the final resource. Hopefully this time it is within peoples expectations and expectations aren't inflated beyond belief. Still, looking better by the day.


----------



## the barry (3 June 2008)

kennas said:


> I agree Barry. But it might be just part of the recovery since the 'bottom'. Nice and steady higher lows and highs, looking ok. Would like to see a nice finish on today. And, perhaps there is something up? They are doing a bunch of exploration drilling and the next JORC is approaching.




Got the close we were hoping for. Up .27 cents or 13.85%. Great day, we'll just have to wait and see if this is part of the recovery or a sign of something being up. 

Regardless, it will be an exciting couple of months comin, thats for sure


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## the barry (11 June 2008)

Hey kennas, can we have an update how we are looking chartwise please. To me it is starting to look quite bullish but im no expert. 100k picked up on close which is a good sign.


----------



## Sean K (12 June 2008)

the barry said:


> Hey kennas, can we have an update how we are looking chartwise please. To me it is starting to look quite bullish but im no expert. 100k picked up on close which is a good sign.



Yeah, looked pretty good for a few weeks really. Higher lows and highs, steady upward trend. On the way back up there's resistance dotted around the place but I think the most may be around $3.00 - $3.25. Then all time highs. That's not a projection, just resistance lines. No TA targets from here that I can see. 

For fundamental true value we have to wait for a few things including the final resource and exploration drilling results, more direction on POU, and BFS etc etc. I'm happy to stick to the various analysts reports with long term targets up to $7.50 ish.

http://www.datafilehost.com/download-127afcb8.html

You would have to conservatively say that if long term U stays around the $90 mark then this is currently a little undervalued. 

Still a few risks of course with any exploration/developer. Savanah, utilities, nuclear black swan, POU.

I'm astounded no one has taken them over during this opportunisic time....

(Can't load charts at the moment for some reason)


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## the barry (12 June 2008)

kennas said:


> Yeah, looked pretty good for a few weeks really. Higher lows and highs, steady upward trend. On the way back up there's resistance dotted around the place but I think the most may be around $3.00 - $3.25. Then all time highs. That's not a projection, just resistance lines. No TA targets from here that I can see.
> 
> For fundamental true value we have to wait for a few things including the final resource and exploration drilling results, more direction on POU, and BFS etc etc. I'm happy to stick to the various analysts reports with long term targets up to $7.50 ish.
> 
> ...




Hey mate, bit more good news, spot price jumped 6 bucks to $65 overnight. Things coming together slowly. Now just need the dow to stabalise.


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## the barry (25 June 2008)

I'm officially excited again. 

Re:   News Releases - Tuesday, June 24, 2008
      Bannerman Resources' Resource Drilling Finalised at Anomaly A
      Exploration Commences for Additional Production Capacity =======================================================================

Perth, Australia -- June 24, 2008 -- Bannerman Resources Ltd (ASX: BMN, TSX: BAN) ("Bannerman" or the "Company"), a uranium exploration and mine development company focused on projects in Namibia, is pleased to report that resource drilling has now been completed at Goanikontes' Anomaly A and that senior geological staff have mobilised to the Perth Company office to begin final resource estimation work.

Drill rigs have now been mobilised to explore prospects which have been identified beyond the principle uranium deposit at Goanikontes' Anomaly A. In all, fifteen prospects have been identified to date with targets prioritised based on historic drill results (where available), ground and airborne radiometric surveys and geological mapping. This marks the commencement of an exciting new exploration phase for the Company. It is the Company's intention to define additional significant uranium resources with proximity to the Anomaly A deposit. 

Additional Uranium deposits could provide for;

-Enhanced and additional ore to supplement the Anomaly A project, -Additional resources to underpin a possible Stage 2 expansion beyond the envisaged 15Mt p.a. mining and milling operation at Anomaly A, -A much larger resource base for an additional stand alone plant elsewhere on the lease, utilising shared infrastructure and management capabilities.

Drilling at Anomaly A totalled 441 RC holes for 117,198 metres and 47 Diamond Core holes for 18,123 metres over the 2.3 kilometre strike that has been defined for the resource estimate. This represents the culmination of over 18 months of continuous drilling and has identified one of the world's largest known uranium deposits.

The Company expects to announce an updated resource estimate in Q3 2008. To this end, the completion of resource drilling and the mobilisation of senior geological staff to the Perth office to work with RSG Coffey Mining are major milestones.

The final resource will mostly comprise chemical assay data, including results from significant width and depth extensions that were not included in the interim resource estimate announced in January, 2008 and will also include core and RC drill hole results from infill drilling completed on a 50 metre by 50 metre grid.

This new resource estimate will be the basis of the definitive feasibility study being completed by GRD Minproc, however, mineralisation at Anomaly A remains open to the North, South, West and at depth. One diamond core rig will remain in the area testing these extensions and collecting samples for geotechnical and metallurgical test work for the feasibility study currently under commission.

Peter Batten, Managing Director says, "It is important to recognise that the Anomaly A project is in fact a single pit that does not yet include all the known mineralisation. The geological sequence hosting the Anomaly A Project is known to continue and in some cases repeat itself along strike and down dip. It would be more accurate to describe Anomaly A as the first open pit in the Project area."

Bannerman is currently establishing a sample preparation laboratory, to be run by an independent commercial laboratory firm, in Swakopmund for the exclusive use of the Company. It is expected that this facility will greatly expedite the processing of drill samples.

Exploration drilling on the other prospects has now commenced with drilling being conducted at Oshivelli, Rossingberg and at Ombuga South. 

About Bannerman
Bannerman Resources Limited is an emerging uranium producer with interests in two properties in Namibia, an African country considered to be a premier mining jurisdiction. Its principal and most significant asset is its 80% interest in the Goanikontes project situated on a trend southwest of the Rio Tinto RÃ¶ssing uranium mine. 

Bannerman is focused on accelerating the development of one of a very large uranium deposit at Goanikontes, Namibia. A mine plan is contemplating low cost uranium production using proven processing techniques. The scoping study completed in December 2007 describes robust project economics using conservative uranium prices. A definitive feasibility study is currently underway by GRD Minproc.   The company expects to bring its starter asset at the Goanikontes deposit into production by 2011. 

As well, the area offers tremendous exploration potential. Exploration of an initial fifteen identified targets has commenced and will continue through the development stages of the Goanikontes starter asset.


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## pattyp (25 June 2008)

"Additional resources to underpin a possible Stage 2 expansion beyond the envisaged 15Mt p.a. mining and milling operation at Anomaly A"

Looks the goods....

Still a great price... I knew something was up yesterday, grabbed some more!

PDN is having a decent run also, good sentiment will spread around a little I think.

Good Luck!

Pat


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## pattyp (25 June 2008)

"Drilling at Anomaly A totalled 441 RC holes for 117,198 metres and 47 Diamond Core holes for 18,123 metres over the 2.3 kilometre strike that has been defined for the resource estimate. This represents the culmination of over 18 months of continuous drilling and *has identified one of the world's largest known uranium deposits.*"

You gotta love that 

Pat


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## the barry (25 June 2008)

These are the bits I love,

"This represents the culmination of over 18 months of continuous drilling and has identified one of the world's largest known uranium deposits."

and

"The final resource will mostly comprise chemical assay data, including results from significant width and depth extensions that were not included in the interim resource estimate announced in January"

and

"It is important to recognise that the Anomaly A project is in fact a single pit that does not yet include all the known mineralisation. The geological sequence hosting the Anomaly A Project is known to continue and in some cases repeat itself along strike and down dip. It would be more accurate to describe Anomaly A as the first open pit in the Project area."

and

"Exploration drilling on the other prospects has now commenced with drilling being conducted at Oshivelli, Rossingberg and at Ombuga South". 

The bit I didn't love,

"The Company expects to announce an updated resource estimate in Q3 2008".

When are they going to get this thing out? The waiting is KILLING me.


----------



## Sean K (25 June 2008)

the barry said:


> The bit I didn't love,
> 
> "The Company expects to announce an updated resource estimate in Q3 2008".
> 
> When are they going to get this thing out? The waiting is KILLING me.



Good ann, and good for long term holders. POU spot is killing the U market now, but the correction was much more likely than the price running ++$200 or whatever. Makes me think back to the early days of this thread and the Uranium Price thread to have a chuckle. 

I think the big plus from this ann and their current thinking is that they can have 2 plants running on the tennament to process much more than the original SS proposal. Huge upside there. Of course, more supply, maybe lower POU, which is a balancing act in the S&D equation. Haywoods seem to be pretty bullish on the price due to the S&D situation in the mid term though, and they would know better than me. 

Disappointed they're putting the final JORC back, obviously due to lab issues. Industry problem I suppose. 

Would love to see all these 'fantastic' announcements translated into sp increases...

$2.25 formed up as a lot of resistance.


----------



## pattyp (25 June 2008)

"Would love to see all these 'fantastic' announcements translated into sp increases..."

Yea - I hear ya...

Sadly... general opinion in the market is "If its U... its garbage!" Once bitten twice shy, etc...

But if BMN can get near their production targets... Well... I've done the math 

Pat


----------



## Sean K (25 June 2008)

pattyp said:


> "Would love to see all these 'fantastic' announcements translated into sp increases..."
> 
> Yea - I hear ya...
> 
> ...



Yep, sentiment is ruling, which the Funny Only investors should take note of. The market's a psychological beast, not a rational objective one. 

Is true value EVER achieved. Seems we are only ever bumping around either side of it. Maybe long term (100yrs) we see a decent trend line?

Ahh, yes, production targets. Let's hope that they can get production up and running as planned, but prepare for something less certain. Delays are the order of the day with start ups. And then the teething problems. The potential income is quite significant for a company still with a relatively low MC to potential revenue. Got to get that happening or it's all hot air. 

Catalysts for sentiment change may be:

Savanah squashed.
POU trending up.
JORC 100m lbs plus.
Regional exploration results tick. 
US financials bottom (eeeek).

Still concerned about a black swan event for any U explorer though so not over committed.


----------



## Rafa (25 June 2008)

Great announcement and a nice chart too Kennas....

As a long term BMN holder, i guess a few more months wait is OK... wouldn't consider adding more till it breaks 2.25 decisively...

there have been a few positive reports on U lately, and with a few more of those planned reactors coming online in the next year, I am reasonably confident about the spot price rising...

the thing I am not confident on is the US banking sector in particular and the global banking sector in general... if that goes belly up, its curtains for everyone... China, India, et al....


----------



## pattyp (25 June 2008)

Looks pretty good - Need some serious volume and we may have a significant breakout...

MAs are all crossing over now...

Pat


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## the barry (25 June 2008)

Rafa said:


> Great announcement and a nice chart too Kennas....
> 
> As a long term BMN holder, i guess a few more months wait is OK... wouldn't consider adding more till it breaks 2.25 decisively...
> 
> ...




Holding above 2.25, close above that and we have the potential for lift off. Goodtimes. ..................................


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## Go Nuke (25 June 2008)

Ahh the parts I liked were  about the diamond drilling continuing to test extensions and depth.

And that Bannerman are establishing a sample prep lab for exclusive use by the company to help speed up the processing of drill samples

Still holding a loss...but long term i think BMN is the goods.


----------



## eddyeagle (25 June 2008)

I am finally back in the black on both Bannerman and Paladin! It's been a painful few months but my faith has been rewarded! Bannerman is up around 70% from it's April low of 1.40!


----------



## mu5hu (26 June 2008)

Hey,

Just wondering if ppl are using a stop loss on BMN and if so at what price are you predicting it will respect?

Cheers


----------



## Sean K (26 June 2008)

mu5hu said:


> Hey,
> 
> Just wondering if ppl are using a stop loss on BMN and if so at what price are you predicting it will respect?
> 
> Cheers



I have been. My last sell was a breakdown through $2.50 and my last buy a break up through $2.00. Not buying/selling in total, just portions. The main reason I've been using stops is because there has still been some obvious concern about the company, industry, and markets, as is demonstarted in the radical price movements. However, has clearly been in an uptrend for some time, since the bottom, as discussed through the thread. 

From here, if you are one to buy and sell according to fluctuations in price, you need to determine where you think the most support is on the way back down, and/or, what you are willing to lose on paper. $2.25 needs to be tested to be the new support, which you would expect so. Was lots of resistance there, and breaking through is very significant. Below that, $2.00. Or, what's your maximum loss? 10%, 20%?? Depends on how you trade/invest. 

Or, go back through the fundamentals and if you want to be a buy and hold investor, there's a high probability that this will find it's true value leading into development and production. Valuations by the brokers range from $3.50 ish to $7.00 from memory, to be corrected. Need to check.


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## Go Nuke (27 June 2008)

Bannerman is going great guns today considering the conditions!! :badass:

Lets now see if $2.50 holds.
Finally back to the levels I bought in at over 12months ago

I imagine it can only get better, with AA final resourse comming and drill results from the other projects.

When will the attention come back to Uranium as an alternative power source.

( For anyone who was losing faith in Uranium....) 



> Uranium Market
> 
> There are 442 reactors currently operating producing 16 per cent of the world's electricity in 31 countries.
> 
> ...



_From Tradingmarkets.com_


----------



## Sean K (27 June 2008)

Long term suspect of this stock, due to idioctric ramping by taxi drivers.

As has been posted, likely bottom identified, and continuing upward after some reasonable bumps.

Breaking through $2.25 and holding highly significant. 

$2.50 will be more challenging, and too early to call due to market over/under stupidity.


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## Rafa (27 June 2008)

kennas said:


> Long term suspect of this stock, due to idioctric ramping by taxi drivers.





I remember that... 
I hope all those taxi drivers have sold out by now... 

2.25 is well and truly broken, tho would like it to come back to that level to test the support.... oh well, can't complain with the last few days...


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## the barry (27 June 2008)

http://www.news.com.au/business/story/0,23636,23931537-31037,00.html

 Interesting read,

 “Interest in energy, particularly coal seam gas, which has attracted interest from major international players including, Royal Dutch Shell, Europe's largest oil company, is expected to continue, while uranium is on the verge of a comeback after a couple of years in the wilderness. 

Deutsche Bank said in a note to clients that the "world is on the verge of a uranium renaissance" and that the "financial markets continue to underestimate the potential for a rapid increase in uranium demand going forward".

 Bmn is going to be a massive take over target once its resource is out (provided it cracks the magic 100 mark). The fact management has lost control of 14.5 percent of the company through the opus fiasco makes it all the more succeptible to a take over attempt.GE just took a 5 percent stake in pdn. Things are going to heat up in this sector.


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## Sean K (8 July 2008)

Two month uptrend looks vulnerable. Breaking back down through $2.25 poor darts. Might see some sideways action at least, for a bit here. 

Would have to expect a 100 m lbs JORC out in a few weeks to set it back in motion to potential near term producer valuation.


----------



## goatpointer (8 July 2008)

Do you think that uranium previously earmarked for military purposes and the  developments with Thorium reactors are having an effect on the prospects of BMN (and others)?


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## Go Nuke (9 July 2008)

Hmmm. i keep a close eye on a Thorium company in the U.S and have seen no real advance in their sp of late.
In fact its still trading below its 200 MA.

I think the use of Thorium is still in a fairly new development stage and certainly isn't up there yet with the likes of Uranium use.

I'll do a little more digging and see if the Thorium research has gained much ground of late.


----------



## Sean K (10 July 2008)

Well, this is interesting.



> *Rio Tinto reaches agreement to sell its Kintyre Uranium Project for US$495 million*
> 10 July 2008
> 
> Rio Tinto has signed an agreement to sell the Kintyre uranium project located in Western Australia to a joint venture consortium comprising subsidiaries of Cameco Corporation and Mitsubishi Development Pty Ltd for US$495 million.



WA don't even allow new U mining, and how long, who knows?

Just checking the Kintyre resource base to make a comparison.

Cripes, it's just 80m lbs but not sure of the grade, probably very good.

Not sure how much longer BMN can stay at this value, or why it's being ignored.


----------



## Go Nuke (10 July 2008)

Well i think your right Kennas.

I still would not be suprised to see Cameco or Areva take a stab at BMN perhaps once they have ann the final AA resource.

I mean Bannerman have SO much more around AA!



> Cripes, it's just 80m lbs but not sure of the grade, probably very good.




I only found this on the Kintyre website..



> A resource of 36,000t of U3O8 has been estimated in the immediate Kintyre area. This includes the Kintyre, Whale and Pioneer ore deposits.
> 
> Drilling has identified an indicated resource of 24,000t of U3O8 and more than 11,000 tonnes of inferred resources at a 0.5kg/t U3O8 cut off grade.






> The Kintyre Project involves a mine and associated treatment facilities at the Kintyre site with an initial production output of 1,200tpa of U3O8.




Ive yet to find anything on the grades yet too.

This info was funny...


> Rio Tinto has lost critical Aboriginal support for the proposed sale of its high-grade Kintyre uranium deposit in Western Australia, raising the prospect that it could face a legal challenge to its rights to sell the $600 million property to one of the uranium groups it is lining up as a buyer. Undisclosed offers made by Rio to the Martu people, the traditional owners, to win their support for the sale process are said to have been "embarrassingly low" given that Martu support is crucial to Kintyre, one of Australia's biggest undeveloped uranium deposits, becoming a mine. (The Age March 19, 2008)



At least Nambia is all for U mining


----------



## the barry (10 July 2008)

kennas said:


> Well, this is interesting.
> 
> 
> WA don't even allow new U mining, and how long, who knows?
> ...




I don't get it either. If it announces anything over 100 mlbs at a grade around the 240ppm mark and doesnt get taken over at this market cap level I will be amazed.


----------



## qeegbill (10 July 2008)

kennas said:


> Well, this is interesting.
> 
> 
> WA don't even allow new U mining, and how long, who knows?
> ...




I went to the last BMN shareholders meeting.  There was a definite pause in the meeting after one of the directors mentioned the Areva takeover of Uramin.  The takeover price was US$2.5 billion for three near operational mines in Africa - the main one being Trekkopje in Namibia (152mlbs).  The total U3O2 reserves for the three mines was about 263 mlbs.

BMN's current JORC resource for Anomaly A is 72mlbs.  This estimate is for the the first 300m - the resource has since been drilled to 400m.  Richer grades are emerging at depth.  Therefore a total in excess of 100mlbs seems possible.  Further, Anomaly A is only <3 km out of the total strike length of over 35 km at Goanikontes.  Then there is Swakop River which is adjacent to Langer Heinrich and yet to be drilled and Botswana...

So .... if there is a takeover offer - $2,500,000,000 and ?150,000,000 shares.  I think Kennas is right- they are cheap at @ $2.12.

I am a BMN shareholder

DYOR


----------



## Sean K (11 July 2008)

LN started another thread on the Kintyre and did some market valuation on the pounds to dollars paid.



YOUNG_TRADER said:


> Hi guys,
> 
> Anyone see the RIO ann that is selling its Kintyre Uranium deposit for $495m USD?
> 
> ...



$6 a pound benchmark, would make BMN worth $600m on their 100m lbs, which they should get close to.


----------



## Sean K (11 July 2008)

Too early to tell because the overall markets could squash ANYTHING, but bouncing off $2.00 support is positive. For now. 

Won't be happy till $2.25 is taken back.


----------



## pattyp (11 July 2008)

"Won't be happy till $2.25 is taken back."

Looking very Bullish Kennas - The force is strong with this one!

Hoping for a solid close!

Pat


----------



## Sean K (11 July 2008)

pattyp said:


> "Won't be happy till $2.25 is taken back."
> 
> Looking very Bullish Kennas - The force is strong with this one!
> 
> ...



Just intaday, anything could and will happen.



Keep the powder dry.

My brother keeps telling me that at the moment.


Then it's time to worry.


----------



## pattyp (11 July 2008)

kennas said:


> Just intaday, anything could and will happen.




Ahhh.... How very true... 

Will prolly finish under 200c just to screw with our minds!

I'm cautiously confident - I did buy a small bunch at 200c in hope of a bounce... So far so good, but ST its really just a gamble!

Pat


----------



## Sean K (11 July 2008)

pattyp said:


> Ahhh.... How very true...
> 
> Will prolly finish under 200c just to screw with our minds!
> 
> ...



If it finishes above then I will be bullish, in the short term. 

Long term though, I am more bullish due to the RIO sale of their WA dog. 

Why would anyone with a brain buy that?

Confounding..


----------



## Go Nuke (11 July 2008)

> So .... if there is a takeover offer - $2,500,000,000 and ?150,000,000 shares. I think Kennas is right- they are cheap at @ $2.12.




True but even though I'm a gain of sand on the beach amongst shareholders, there is NO WAY that i would agree to a takeover considering where BMN is now.

Any guesses on what a share evaluation would be IF a takeover was made?


PDN one of my only stocks going backwards today
Though it has ahd a good run lately.


----------



## Sean K (11 July 2008)

Go Nuke said:


> True but even though I'm a gain of sand on the beach amongst shareholders, there is NO WAY that i would agree to a takeover considering where BMN is now.
> 
> Any guesses on what a share evaluation would be IF a takeover was made?
> 
> ...



Genral takeover offer would be 30% above the 30 d moving average. 

Depending on counter offers. 

So, lets hope the offer, if there is one, comes in during a run.


----------



## Go Nuke (11 July 2008)

Would you call this "_Bot Trading"_ today, or just someone trying to manipulate the sp.

Hopefully trying to keep it at $2.25 at least...


----------



## Go Nuke (11 July 2008)

kennas said:


> Genral takeover offer would be 30% above the 30 d moving average.
> 
> Depending on counter offers.
> 
> So, lets hope the offer, if there is one, comes in during a run.




So at todays price that would be at $2.78 by my calculations.
(*Ignore the line I drew at $3. I was working off the 200 day MA..oops)*

Unfortunately I topped up above that level and I'm not in this game for a loss..lol.

But as you say, the sp should start to have a good run prior to an announcement about final resourse.
Question is by how much...(and if the DOW actually has a good day)


----------



## Sean K (12 July 2008)

Go Nuke said:


> But as you say, the sp should start to have a good run prior to an announcement about final resourse.
> Question is by how much...(and if the DOW actually has a good day)



Well, DOW went on a rollercoaster with a Bear. Still ended up down 1% ish, but when it was over 2% down, I was thinking about what job I was going to have to take here in Lima. Street cleaners do ok here. 

In a change for BAN, it went against the trend and ended up a few %. Remarkable. Perhaps the lead up to the final JORC is going to provide some support, but remember how BMN has traditionally responded to good news. 

Very good last two days bouncing off $2.00 ish support after that uptrend line failed. I thought we had more pain to take than that. $2.50 is the real hurdle. 

As far as takeovers go, I am still in bewilderment that Kintyre went for $500m when it's years off, and smaller (potential) JORC. Perhaps the rest of the leases along with the purchase are very prospective. Also, Gov may change soon, so maybe there's the incentive. Still, puts a price on BMN (just for AA) on about $6 ish a pound U. Plenty of upside. 

Let's hope Fannie and Freddie don't put the world in a pile of doo doo too soon.


----------



## Go Nuke (21 July 2008)

Poor old Bannerman has copped a hammering today.

On what should have been a good day.

Any ideas why??


----------



## qeegbill (21 July 2008)

The U3O2 spot price is up.  The ASX was up 3.54%.  A significant increase in resource is expected at Goanikontes - probably by the 31st when the next quarterly report is due.  Two other nearby depostis are being drilled.  The fundamentals are all good.  Maybe someone else can figure out the drop in sp today.  

DYOR

I hold BMN


----------



## Moneybags (21 July 2008)

Go Nuke said:


> Poor old Bannerman has copped a hammering today.
> 
> On what should have been a good day.
> 
> Any ideas why??




Wish I could help GN, but alas, I am as bewildered as you. More sellers than buyers I suppose and with news expected soon re AA final deposit even more puzzling. Can only put this down to traders and support being broken.

MB


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## Sean K (22 July 2008)

The only really negative news could be the Savannah litigation, but that doesn't cover AA anyway, which by itself is enough to support this to mining for years.

I am hoping it was just technical selling on the breakdown through $2.00, which was very important support. 

They key is the JORC coming in at least expectations, if not, then there'll be more negative sentiment perhaps.

I think the driver will be POU continuing to push back up, and the surprise to the upside would be a 120m + JORC. Most are just hoping for around 100m lbs. 

I'm disappointed there's be no news on the metadesiments and if they host any uranium. They ramped that as a possibility some time ago, but it's dropped off the radar, and been left out of all recent reporting. That could have been significant upside.  

One thing we could be seeing is just the normal cycle for a junior resource company going from discovery, into BFS and development. Discovery high, is the first real peak, and that was ages ago for BMN. We're now in the confirmation stage, where interest slides. Next best phase is development and start up production, which is a little while off.


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## the barry (23 July 2008)

qeegbill said:


> The U3O2 spot price is up.  The ASX was up 3.54%.  A significant increase in resource is expected at Goanikontes - probably by the 31st when the next quarterly report is due.  Two other nearby depostis are being drilled.  The fundamentals are all good.  Maybe someone else can figure out the drop in sp today.
> 
> DYOR
> 
> I hold BMN




Drop in share price yesterday was a director selling 1 million shares on market to pay for the conversion of 4.8 million shares at 40 cents. Bmn will be presenting tomorrow in perth at a U conference where all the majors will be at. Would be a perfect time to announce the final jorc with petter batten speaking at 5 pm perth time.


----------



## DAZT49 (31 July 2008)

be interested to get your thoughts on this H & S pattern.
Seems to be heading towards $1.40, If the upcoming ann is positive it mat nullify the pattern.


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## qeegbill (31 July 2008)

Kennas chart analysis from a couple of weeks ago pointed to a sp of $2.50.  Now we are talking about  $1.40.  How accurate are these charts anyway?

Hopefully the market will focus on the fundamentals -see today's quarterly report:

BANKABLE FEASIBILITY STUDY AWARDED
Contract has been awarded to the engineering construction company
GRD Minproc.
• RESOURCE DRILLING COMPLETED
Drilling at Anomaly A totalled 441 RC holes for 117,198 metres and 47
Diamond Core holes for 18,123 metres over the 2.3 kilometre strike.
• FURTHER EXCEPTIONAL DRILL INTERCEPTS
From Anomaly A including;
182m @ 295 ppm 139m @ 260 ppm 125m @ 288 ppm,
116m @265 ppm 99m @ 247 ppm 86m @ 257ppm,
82m @ 396 ppm 77m @ 214ppm 74m @ 248 ppm
69m @ 281 ppm U3O8
• EXPANDED EXPLORATION COMMENCES
3 drill rigs move onto other prospects:
o Rossingberg
o Ombuga
o Oshiveli – 15m @ 560 ppm U3O8

Also the uramuim price is bouncing back.  

Uranium Futures  
Aug. 2008  $66  
Sep. 2008  $67  
Oct. 2008  $69  
Dec. 2009  $78  

Prices as of July 29 

The long term contract prices are considerably higher.  Check the long term supply/demand  projections -everything I've seen points to significant supply shortfalls.


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## Sean K (1 August 2008)

qeegbill said:


> Kennas chart analysis from a couple of weeks ago pointed to a sp of $2.50.  Now we are talking about  $1.40.  How accurate are these charts anyway?



Didn't it go to $2.50? Just over actually. And then I called a H&S similar to Daz's with a similar target. 

Looks like final resources is getting later and later.



> Lithological modelling was on schedule at the end of the quarter with the resource estimation expected to be completed in the *first half of the following quarter*.




At last an update on Savanna.



> The MME filed three affidavits on 30 June 2008 opposing the claims by Savanna. The affidavits were sworn by Mr Errki Nghimtina, the Minister of Mines and Energy, Mr Erasmus Iiyambo Shivolo, the Director of Mines and the Acting Mining Commissioner and Dr Gabriele I. C. Schneider, the Director of Geological Surveys at the Ministry of Mines and Energy.
> 
> Savanna now has the opportunity to submit affidavits in response at which time Bannerman will approach the President Judge of the Namibian High Court to seek a hearing date.
> 
> Bannerman is seeking advice on the merits of Savanna's claim and expects that advice to be completed after all of the affidavit evidence has been filed.



Just why we weren't given an update when those affidavits were sent in beats me. They know bloody well this issue would be of concern to investors. Poor darts. 

I still can't work out why Geoff Stanley, based in NY, has been made Non Executive Chairman. He's a fund manager! And what's he going to do hands on from NY? Talk on the phone? Rediculous. At least we know if he does his job correctly the travel bills for BMN will be up through the roof. He'll have to be First Class too I imagine.


----------



## Sean K (1 August 2008)

kennas said:


> At last an update on Savanna.
> 
> Just why we weren't given an update when those affidavits were sent in beats me. They know bloody well this issue would be of concern to investors. Poor darts.



Just to add to this, I've reread the ann and it seems quite a bit has been happening in regard to the High Court Motion, and BMN have failed to keep us informed. Check the dates I've highlighted here. Now why was there not an update, especially in regard to the Savanna amended motion on 14 April. That is significant.

*HIGH COURT MOTION*

The matter of the High Court Motion brought against the Minister of Mines and Energy (MME) by Savanna Marble CC (Savanna) is ongoing with preliminary affidavits being submitted to the court. Although the Motion has been brought against the MME, Bannerman Mining Resources (Namibia) (Pty) Ltd (Bannerman) is second respondent to the Motion which relates to EPL3345.

*On 14 April 2008*, Savanna amended its Notice of Motion to include a claim that the MME was ‘functus officio’, in effect claiming that the Minister did not have the power to grant EPL3345 when he purported to grant the licence to Bannerman on 16 April 2006.

Bannerman submitted answering and opposing affidavits on *30 May 2008*. The MME filed three affidavits on *30 June 2008 * opposing the claims by Savanna. The affidavits were sworn by Mr Errki Nghimtina, the Minister of Mines and Energy, Mr Erasmus Iiyambo Shivolo, the Director of Mines and the Acting Mining Commissioner and Dr Gabriele I. C. Schneider, the Director of Geological Surveys at the Ministry of Mines and Energy.


Just a reminder that one of the motions put forward by Savanna is to have the granting of the entire EPL3345 nul and void. That includes AA. Now, while I find the claim to be dubious, who is to say that there is some technicality with the granting of the EPL that does in fact make it nul and void! 

Bloody hell, I hope for the sake of all investors in this that they are not skinned because of a technicality, or something more dodgy.

However, if this is thrown out, I would anticipate quite a run for BMN.

Risk/Reward I suppose.


----------



## qeegbill (2 August 2008)

Have mercy on those BMN holders with weak hearts.  I hope that all of these issues were dealth with in the  BMN ASX/ MEDIA RELEASE dated 20th December 2007:
"The Company wishes to advise that on Friday 14 December 2007 a company incorporated in Namibia, Savanna Marble Close Corporation (Savanna), commenced proceedings in the High Court of Namibia against the Namibian Minister of Mines and Energy, the Company's 80% owned subsidiary Bannerman Mining Resources (Namibia) (Proprietary) Limited (Bannerman Namibia) and an individual known as Robert D Wirtz (who has no connection with Bannerman).
The proceedings seek:
1 An order reviewing and correcting or setting aside the decision taken by the Minister of Mines and Energy in Namibia to grant Bannerman Namibia Licence EPL3345 with exclusive mineral rights for the nuclear fuel group of minerals over the area covered by Savanna's EPL3045; 2 alternatively orders that the decision by the Minister of Mines and Energy to grant Bannerman Namibia EPL3345 be declared null and void; and 3 the costs of the application.
The Company received the documentation relating to the proceedings yesterday afternoon.
EPL3045 held by Savanna only entitles it to mine stone known as "dimension stone". It is not entitled to explore for or mine any nuclear fuel minerals. Approximately 3 months ago Savanna applied to have nuclear fuels added to its licence. This application has not been dealt with and in the Company's view is unlikely to be granted. 
Savanna’s EPL3045 is situated north of the Swakop River not near the Company’s Goanikontes Anomaly A deposit. The area the subject of the notice does not overlap on the current drilling programme and will not impact on the exploration and development work planned by Bannerman  Namibia. Bannerman is not expecting any delays to the current schedule from this action.
Savanna has applied for a mining licence indicating the area of economic interest for dimension stone. This application sits on the northern boundary of the Company’s licence EPL3345. The mining licence application does not cover any uranium targets currently in the Company’s inventory."

I can't work out how to transpose the map - but check the original announcement.
I hope I am right with this.  BMN are usually very straightforward in their communications in the market.  Does anyone have any further info?


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## Sean K (2 August 2008)

qeegbill said:


> I can't work out how to transpose the map - but check the original announcement.
> I hope I am right with this.  BMN are usually very straightforward in their communications in the market.  Does anyone have any further info?



qeegill, this was covered extensively when the ann came out and most of the focus was on Savanna EPL and if it covered AA. It does not. However, it seems to cross over most the Rossingburg Anomoly, which is a key to BMNs future growth potential.

However, as you have highlighted, Savanna are also requesting the setting aside of the granting of the entire BMN EPL3345, which does hold AA. If that is declared nul and void, it simply means no one owns that EPL and I assume the required applications will need to be resubmitted. All very messy.  

Now, in addition to the information provided on 20 Dec, Savanna have amended their claim. As I highlighted, on 14 April 2008, Savanna amended its Notice of Motion to include a claim that the MME was ‘functus officio’, in effect claiming that the Minister did not have the power to grant EPL3345 when he purported to grant the licence to Bannerman on 16 April 2006. No one knew this until the quarterly. What effect would this have? As per the above para.

What we are all missing here is the justification for Savanna to make such claims. There must be an issue involving proceedure in regard to the EPL application and granting that Savanna thinks makes it illegal. If there was not a hint of a chance that they could win, they would not have proceeeded with the issue, and if it was clearly bunk, it would have been thrown out some time ago. One thing that is interesting to me is the change in tact that they have made, as per the 14 April amendment. They have amended the claim for a reason. Is it because their previous motion was going to fail so they've changed approach? Or is it because during the investigation it has become clear that MME was in fact ‘functus officio’. 

If the motion put forward on 14 April is upheld BMN can probably expect a class action for non disclosure. 

Having said all that, if the motion is thrown out, BMN will turn around dramatically IMO.


----------



## grizzly1 (4 August 2008)

Looking at the financial accounts for the last quarter ending 30 June 08 there appears two quarters of cash left so maybe Savanna is hoping BMN will go bust before there is a judgement.


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## Go Nuke (4 August 2008)

Dam Savanna!!

Im sure the people at BMN are not stupid and this will all prove to be a waste of everyones time and money.

Bannerman are looking at investing alot of money into Nambias economy with a mining deposit as good if not better (once all other tennaments are accounted for) than Rossing or LH!

Perhaps i am bias towards all this as if BMN fell over, Id pretty much call my days in the stockmarket over and done with

At least I can sleep easy at night knowing that Petter Batten will fight Savanna tooth and nail, to fight for his company (and us shareholders hopefully)

Bloody Savanna


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## Sean K (5 August 2008)

Well, thank God for that. 

*ANOMALY ‘A’ RESOURCE EXCEEDS EXPECTATIONS*

“+100 M lbs U3O8 – not out”

• 106.6Mlbs (48,454 tonnes) of contained U3O8 beats the Company’s target.
• Deposit remains open to the North, South, West and down-dip.
• On track for production in 2011

And while this is nice:

Given the extensive strike extent of the Anomaly A to Ompo trend in excess of 11 kms, with
known subcropping radioactive alaskite zones, in addition to the several other 1 to 6km
alaskite prospects being tested the Company has a conceptual exploration target of at
least 100 to 200Mlbs from these areas over and above the +100Mlbs already defined
at Anomaly A.

Getting to mining while prices are high is more important now!


Knowing BMN it will get sold off now.

LOL


----------



## Synergy (5 August 2008)

yes very good news, and will more than likely get sold off if histroy is anything to go by.

interesting to see if it gets to $1.30 before turning again.


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## shag (5 August 2008)

the market doesnt likle it much
and what a day to bring it out
why do you say it will be sold off, is that because specualtors will sell on the fact(buy on the rumor)?
it seems to have formed a nice downtrend hasnt it kennas, what do you think from charting terms?


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## Go Nuke (5 August 2008)

I'll tell you what i think....

I great announcement with an incredible amount of upside for increasing their resource!
But yes in typical BMN fasion its being absolutely smashed like everything else on my watchlist today.

If I had more spare money, I'd be loading up on more BMN right now.

Chart wise (sorry to add my ) I reckon good support around $1.30- $1.40.
With such a great ann I would be trying to pick any up at sub $1.38 myself. The whole resource sector is down today so would expect a bounce tomorrow or the day after perhaps.

It looks like a funny H & S pattern (which is bearish ) but fundamentaly this company has so much upside I fail to see the sp going much lower. (Hope i'm right)
I would maybe expect the sp to hover around $1.50- $1.90.

The underlying issue with Savanna is an issue and like Kennas said, may keep investors on the sidelines till its cleared up.

And if the credit crisis weren't what it was...there has to be the thought of takeover target now?

Good luck to fellow BMN holders.
I feel ya pain:whip


----------



## Sean K (6 August 2008)

Go Nuke said:


> I'll tell you what i think....
> 
> I great announcement with an incredible amount of upside for increasing their resource!
> But yes in typical BMN fasion its being absolutely smashed like everything else on my watchlist today.
> ...



Cripes let's hope that H&S doesn't work out, the target is negative. eeeek! And therefore unlikely, unless the savanna motion is upheld. I find it very unlikely, the mining industry would lose all confidence in Namibia which is very important to their economy. But, unfortunately, we don't know the justification for the motion. 

Now, BMN need to get moving into BFS as quickly as possible and get finances sorted to get into production. 

I'm still amazed that they are sitting on this resource with so many of the logistics sorted, open cut, and are valued at about $2 a lb or something. Meanwhile Kyntire, which can't be mined, goes for $6+ lb. Confused as hell.


----------



## Sean K (6 August 2008)

Just watching CNN polical commentary and McCann says he wants to add 45 new nuclear power stations over the next 20 years. I've got no idea how much fuel that adds up to but I'll take a pluck and say a lot. 

Not sure how many Obama wants to add, but he's more into sustainable and clean fuel than drilling for more oil. 

I haven't seen a recent update on nuclear power stations coming on line and planned. Anyone got some facts and figures? I might do a google. 

Funny that ALL commodity stocks (even agg, U and PMs) have tanked even though these particular commods are not really linked to the likely commod decline during the world recession. (unless of course they are effected)

If they are not, look to be oversold purely on sentiment, instead of any potential fundy changes.

PS, found this comment on China late last year:



> Under plans already announced, China intends to spend $50 billion to build 32 nuclear plants by 2020. Some analysts say the country will build 300 more by the middle of the century. That's not much less than the generating power of all the nuclear plants in the world today.




300 more? Crikey!


----------



## crisstoff (6 August 2008)

Also from memory all new Nuclear Powerstations need to buy 2-3 years supply of Uranium a while (cant remember the timeframe) before even starting.

I am a holder of both BMN and EXT and the activity in both sp is almost exact opposites. Except for EXT isnt going up.


----------



## the barry (6 August 2008)

kennas said:


> Cripes let's hope that H&S doesn't work out, the target is negative. eeeek! And therefore unlikely, unless the savanna motion is upheld. I find it very unlikely, the mining industry would lose all confidence in Namibia which is very important to their economy. But, unfortunately, we don't know the justification for the motion.
> 
> Now, BMN need to get moving into BFS as quickly as possible and get finances sorted to get into production.
> 
> I'm still amazed that they are sitting on this resource with so many of the logistics sorted, open cut, and are valued at about $2 a lb or something. Meanwhile Kyntire, which can't be mined, goes for $6+ lb. Confused as hell.





You have to wonder about the potential of a take over with the savanah issue hanging over the company's head. At current levels you would have to think it was a no brainer without that issue hanging around. The sooner it gets cleared up the better. 

Not sure why it was posted like this on the asx,

"Given the extensive strike extent of the Anomaly A to Ompo trend in excess of 11 kms, with known subcropping radioactive alaskite zones, in addition to the several other 1 to 6km alaskite prospects being tested the Company has a conceptual exploration target of at least 100 to 200Mlbs from these areas over and above the +100Mlbs already defined at Anomaly A."

but in the announcement to shareholders they stated,

"Given the extensive strike extent of the Anomaly A to Ompo trend in excess of 11 kms, with known subcropping radioactive alaskite zones, in addition to the several other 1 to 6km alaskite prospects being tested the Company is targeting a potential 200 to 400 Mt of mineralisation from these areas at grades of 200 ppm to 300 ppm U3O8 to add to the +100Mlbs already defined at Anomaly A."

Really need to get the drills pumping to get these resources defined. Good to note the improved targeted grades. Anyone got any ideas as to how long it will take to get these drilled out. Although they have extra drills, i assume they will be spread out and therefore take about the same amount of time as AA?


----------



## Go Nuke (7 August 2008)

This was from a few pages back Kennas and info i found on Nuclear reactors...



> Quote:
> Uranium Market
> 
> There are 442 reactors currently operating producing 16 per cent of the world's electricity in 31 countries.
> ...




I also saw an interview on CNBC this mornig with a CEO from an energy company in the U.S (cant remember which one) and he said even though California has a ban on Nuclear facilities, nuclear would be the only current solution to reducing greenhouse gases and would become a larger part of thier future business.

But as Ive stated earlier, any takeover would have to be a whopper $4++ for me to accept!
Even though I'm sure BMN is worth much more than that


----------



## qeegbill (7 August 2008)

kennas said:


> Cripes let's hope that H&S doesn't work out, the target is negative. eeeek! And therefore unlikely, unless the savanna motion is upheld. I find it very unlikely, the mining industry would lose all confidence in Namibia which is very important to their economy. But, unfortunately, we don't know the justification for the motion.




According to BMN Namibia was world No2 for mining investment and governance.

"The Namibian legal system is characterized by legal pluralism. It is an amalgamation of Westminster-style Constitutional law, Roman-Dutch common law, customary law and international law. Most of what constitutes the body of Namibian law is not codified and must be distilled from the evolving body of jurisprudence".

One interpretation of the motion:

Imagine a company digging around the Namib desert since at least 1982,eking out an existence from the rocks.  After 26 years of this you realise that some insignificant 20 cent Australian company has come into your country, acquired leases, and defined a significant U3O2 deposit.  Worse still, the resource had been known about for years and others had already completed drilling.  Imagine how you would feel if you even knew about the previous drilling, ignored it, and the resource ends up being worth say, gross,  $20,000,000,000 (200 mlbs X $100 per lb).  So when you apply for a lease for the rocks that you usually go after you think - I deserve a piece of that.  Maybe they will give me a piece of the action.  So even though you have never mined U3O2 you lodge a claim for it on the same tenement.  The more uncertainty you create, the more the share price is affected, the more likely it seems you will get some sort of benefit for your trouble.


----------



## Go Nuke (8 August 2008)

Are you suggesting that perhaps if Savanna cant get a slice of the action...it would be a good time for them to buy into BMN and pick up some cheap shares?

I like that idea, but it probably wouldn't sit well in a court case




> U3O2




Its U308 sorry mate.


----------



## qeegbill (9 August 2008)

Go Nuke said:


> Its U308 sorry mate.




Excellent dude!  We even have extra oxygen with our uranium.
Really - Thanks for correcting me.

The comments on my last post were facetious.  The serious question is to the basis (if any) of the legal action.  I understand that a "notice of motion" is a paper which is served on another solicitor telling them that a motion will be made to the court on a certain day. This suggests to me that Savanna have not been required to justify their legal action as yet???  Maybe they do not actually have anything to substantiate their claims???  However, they have forced the MME etc. to reveal all the details regarding the granting of EPL 3345.  Maybe Savanna are now trawling for any problems that they can discern in this process.  I would like to hear if someone has knowledge on the processes involved in this type of legal matter.  

The other question is who is the "individual known as Robert D Wirtz."  Was he a previous lease holder?  If so that should have been known by BMN.

DYOR

I hold BMN


----------



## Go Nuke (12 August 2008)

OMG

We are doomed!!
Bannerman at $1.25ish

I wouldn't have thought the uranium sector would be hit like the other miners as the price of U is pretty stable.
I wonder how much of this is caused by the Savanna bs?

From high of $4+ to where it is today is really disappointing to say the least. Such a qualitiy stock too. (And about 40% of my portfolio )

Glad Im at work right now...can't have the guys here seeing a grown man cry


----------



## shag (12 August 2008)

well its 1.20 now and going south fast
some news would be good
i'm tempted to buy in but wccould like to be more informed


----------



## Go Nuke (12 August 2008)

Uughh Its just so depressing isn't it.

BMN might as well be looking for GOLD with the way this sp is going.
Down over 50% in 6 months is not a good look.

Even the ann of 100Mil+ of U308 with more upside wasn't enough to stop it from sliding south.
Only further ann that I can see coming would be on drilling and possible results. But right now I don't think the market will care one bit no matter what the results are

I can only hope when the metals prices bounce, so will Bannerman.

I think I have the answer to all my problems though....

:couch

There...problems gone! haha


----------



## Go Nuke (12 August 2008)

Just a quick side note...

What do people think of the small trades that have been made today?

Heaps of small parcels going through.
Oh except that big trade for 200+K that went through.

Someone gathering a holding in BMN?
or the reverse.


----------



## treefrog (12 August 2008)

*major support break!!*

the 140 support level has held since Oct 06
today's thump through to 121 is significant with next pause level at $1
Fib target based on 08 see-saw is 89c


----------



## qeegbill (12 August 2008)

Go Nuke said:


> Just a quick side note...
> 
> What do people think of the small trades that have been made today?
> 
> ...




I agree - lots of small trades.  Today's closing prices takes us back to the point before the drilling started!  

I'm keeping focused on the fundamentals.  Even if the court action stalls things for a while....I am focused on the longer term - Swakop River, Elspe anomoly, Botswana (Falconbridge estimate 75 mlbs) etc..  The U3O8 price has been improving.  The stock must be significantly undervalued on a $ per pound basis - let alone the discovery upside.

DYOR


----------



## shag (13 August 2008)

well at least its consitant 
down to a tad over a dollar today
whats the bet the 90's is its bottom?
they need to send a delegation to namibia to twist some arms and say how this legal action is making a micky out of the namibia mining sector.
a bit of quick african justice is needed....


----------



## shag (13 August 2008)

its sunk so consistantly that its like a margin loanable stock?
can u get dodgy loans over it still or are all the opes prime like companies bust?
big volume today


----------



## the barry (13 August 2008)

Considering this was meant to produce 8-10 percent of the worlds U this is a MASSIVE announcement(read below).

Considering they just bought out rio tinto's deposit at 6.25 per mt of uranium, this gives bmn a value of approx 4.65 per share on take over terms. Put this in perspective, they can't mine that deposit now, or anywhere in the near term future. Cameco where relying on that mine for future contracts, they will now need to go to the market to cover these contracts, if not they will need to acquire a mine to fulfil these needs. Now lets do the math, cameco's mine was to come on line in 2011, can anyone think of a mine which will come on around that time? Surely at these price levels this company must come under some serious t/o interest?



UPDATE 1-Cameco halts repair work at Cigar Lake uranium operation.

Tue Aug 12, 2008 10:09pm EDT

NEW YORK, Aug 12 (Reuters) - Canada's Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz), the world's largest uranium producer, said on Tuesday it suspended remediation work at the No. 1 shaft at its key Cigar Lake uranium project after too much water was noticed flowing into the mine.

The company said it is now working to determine the source of the inflow at the mine in northern Saskatchewan, and to determine if there will be an impact on its planned production date.

Cameco has said it expects to begin production at Cigar Lake by 2011 at the earliest. It has been working to repair the mine since a flood in 2006.

Before the flood, the mine had been expected to eventually produce 18 million pounds of uranium annually, or more than 10 percent of world output.

The company said the water flowing in on Tuesday increased to a rate "beyond the range that can be managed while sustaining work in the shaft."

"An inflow at this rate is disappointing but our remediation plan ... recognized the risk and included specific actions to be taken at various levels of inflow," Tim Gitzel, Cameco's chief operating officer, said in a statement.

Cameco said it is gathering additional data, and will provide a another update on the suspension on Aug. 14, when it posts second-quarter results. (Reporting by Jonathan Spicer; Editing by Gary Hill)


----------



## shag (14 August 2008)

but whos going to take over a company when they may not be able to mine their site?
wouldnt that scare off all predators untill its settled?

the market is playing out very much just like it did last year to me


----------



## Sean K (14 August 2008)

There's a bit of capitulation like selling going on in the market right now.

See just about any commod stock chart the past few days.

BMN no exception, even with the 'Savanna marbel head' litigation overhang. 

Technically, I think failing $1.40 ish was a major SELL and run to the hills signal, and wait to see what happens next.

What has happened is a bounce of some significance, on volume, representing some panick selling and buying from others...

I haven't sold anything since buying more at $2.00 ish, and am taking the risk that the Savanna thing is a no go. 

I have disregarded my general trading/investment plan by selling on significant support breakdowns, and I am sure this will come back to haught me. It's giving me nightmares already. 

Like it did during the teck wreck.

Just another reason to write down my investment plan for every stock and stick to it, no matter what the 'fundamentals' say. 

Feeling like a goose....

But, on to something positive, there may be a great opportunity to add to the position if it breaks up and the Savanna thing is squashed....


----------



## the barry (14 August 2008)

shag said:


> but whos going to take over a company when they may not be able to mine their site?
> wouldnt that scare off all predators untill its settled?
> 
> the market is playing out very much just like it did last year to me




I would assume that we will have an idea on the proceedings very shortly. Someone who spoke to petter batten posted that savanahs affidavits were meant to be in at the start of july (provided that information is accurate which I can't say either way). It is now 6 weeks past that point. Possibly they are holding out for bmn to make them an offer to go away, (who knows as the proceedings aren't against bmn, but the outcome will obviously have a major impact on them if succesful) but the time it is taking I am hoping may mean they are on a fishing expedition. 

On another front, In the short term cameco states "“We will provide an update in our second quarter news release which will be issued on Thursday, August 14 with a conference call to follow at 11:00 a.m. Eastern time.” 

Would assume that if there are further complications/delays this mine may never get into production as the commencement date has already been pushed back years. Would have to have a major impact on the short/long term spot price as this was factored in to produce 8-10 percent of the worlds U by 2011. 

Interesting times ahead.


----------



## shag (15 August 2008)

thanks for the chart.
with the cigar lake water factory upping its water production, paladin must be looking good being a producer and the rest.
i bought in a few bmn at a dollar anyway in the hope this court case and market flop is just an ideal buying opportunity.
you would hope the namibian government recognise that this could tarnish their thriving mining industry.


----------



## qeegbill (15 August 2008)

The current price is, like the market, not rational.  My view is that even if the worse were to happen (God forbid) BMN still have other very significant interests, i.e. Swakop and Botswana.

The anomalies near Langer Heinrich look particularly interesting.  They will probably be higher grade than AA.  That was only drilled first because BMN wanted to utilse the historical drill holes so as to minimse the cost.

I note that the $21m capital raising went ahead successfully - even after legal action was initially lodged by the marble co.

Were these investors foolhardy or insightful?

DYOR


----------



## Sean K (18 August 2008)

kennas said:


> Technically, I think failing $1.40 ish was a major SELL and run to the hills signal, and wait to see what happens next.
> 
> What has happened is a bounce of some significance, on volume, representing some panick selling and buying from others...
> 
> ...



Well, I'm out taking a capital loss and waiting for a reentry signal. I made quite a bit on this a couple of years ago, but the recent average cost of $2.00 was a very bad trade. My policy of selling on breakdowns was forgotton. Lesson learnt again. Money in the bank earning interest, or for re-entry. 

With it falling how it has after that JORC upgrade, even with Savanna, I have to think the worst.


----------



## shag (18 August 2008)

u do have to wonder dont you, like the selling came on strong and never ceased, totally ignoring the resource announcement.
my  philosophy when they go like this is they arn't worth selling, forget them for a few years and hope they do a summit gold and u wake up to a 100k u didnt realise u had.
i've asked fat profits what they think of them....


----------



## shag (18 August 2008)

the b-stards seem to want to give out an enourmous payrise and hand out loads more options....if i read it right. yeah right, a payrise and handouts when the ship is sinking...


----------



## bollingerbob (18 August 2008)

<slightly old news, copy of my post from topstocks.com.au.
This is my first post here, but I've been posting on topstocks for a while now so go over there if you want to check out my history.>

----------------------------------------------

See the below for reasons behind the recent price drop. The price has apparently moved due to badly timed institutional movements not because of fundamental change in lawsuit or opperations. There is NO fundamental change to the business or the state of the Savanna suit according to BMN reps.

Additionally, more results are expected to be announced soon.

See my Q&A below.

Disclosure: I hold and will continue to accumulate at these prices.

------------

From: "Ann Gibbs" <ann@bannermanresources.com>
Date: August 14, 2008 9:45:32 PM GMT+10:00
To: <bollingerbobs email address>
Subject: RE: Status of court proceedings
Reply-To: <ann@bannermanresources.com>


Dear <bollingerbobs name>,

Thank you for taking the time to write. There is no change in the business
-- corporate or operations -- at Bannerman Resources.

We discovered that the share price drop is the result of an institutional
shareholder who apparently had a "basket of holdings" that they gave to
their broker to liquidate at best efforts. Unfortunately, this happened not
only on a weak market day, but also without us knowing so that we could help
him to find a buyer.

With regard to Savanna, we are waiting for them to file a responding
affidavit after which, Bannerman can approach the Namibian High Court to
seek a hearing date. There really is nothing more to state until Savanna
files their affidavit. As the situation develops, we will of course, inform
the public.

I have attached the last Activity Report which includes the current status
of the situation.

Exploration activity continues on some of the hotter targets in the license
at full steam, and we are hoping to report some results within the next few
weeks. Again thank you for your consideration and interest in Bannerman
Resources.

Yours truly,

Ann Gibbs
Investor Relations
TSX: BAN
ASX: BMN
Bannerman Resources
T: 416-388-7247
E: ann@bannermanresources.com
www.bannermanresources.com


-----Original Message-----
From:<bollingerbobs email address>
Sent: August 14, 2008 3:38 AM
To: ann@bannermanresources.com.au
Subject: Status of court proceedings

Ann,

As a concerned shareholder, given the recent developments to the bannerman
share price, I would like an update on the current proceedings in the high
court around the savanna claims.

Has there been any change in the perceived strength of their claim?

What is the current status of the proceedings?

Have their been any changes to the claim made by savanna?

Will bannerman release an announcement at least placating holders to inform
them of no material changes to the status of the suit?

<bollingerbobs name>


----------



## bollingerbob (18 August 2008)

shag said:


> the b-stards seem to want to give out an enourmous payrise and hand out loads more options....if i read it right. yeah right, a payrise and handouts when the ship is sinking...




No payrise/etc approvals will be coming from me.

I will however be voting for the capital raising theyve done @ $2/share.


----------



## shag (18 August 2008)

thanks for that.
surely banerman could have found some way to inform us all
it makes some sense as it doesnt take much to push bannerman down being relatively illiquid. tho a long time to sell it down. going south from 2.10ish to 90c in two months...

like the worst part of this saga is the void of information

i search for it, but none....


----------



## Go Nuke (18 August 2008)

A doji today may indicate a bottom perhaps?

Maybe im just trying to hang onto some hope here but the RSI is looking pretty oversold.
If we have some sort of recovery in the metals prices BMN should start heading up again.

I continue to not learn lessons of the past and attempted a T3 trade buying in last week at around $1.
Rather than take a loss i think Im just going to have to buy those shares now and look to get out around $1.39.


----------



## treefrog (19 August 2008)

*Re: major support break!!*



treefrog said:


> the 140 support level has held since Oct 06
> today's thump through to 121 is significant with next pause level at $1
> Fib target based on 08 see-saw is 89c




hopped on board today at 89/90 - first stage of intended three stage entry. next stage at +/- 5% from here


----------



## bollingerbob (20 August 2008)

Looks like the volumes have wound down from the big sell off. Hopefully the big institutions have no more to offload and we will start to see a rally from here.


----------



## Go Nuke (20 August 2008)

Here's an upbeat story from the Australian yesterday!.

Better suited to the AGS thread perhaps, but all us Uranium bulls need a shot in the arm at the moment so thought I would post it here

http://www.theaustralian.news.com.au/story/0,25197,24202779-5005200,00.html

ps...

I like the last comment at the end


----------



## grizzly1 (21 August 2008)

From the 2007 Annual report 

the issued capital included 

25 July 2008 options at $0.1067 1,150,000
18 Aug 2008 options at $0.40     5,800,000

" During the financial period and up to the date of this report the Company issued a totol of; i) 7,500,000 (post share split) options exercisable at 40 cents on or before 18 August 2008 to Mr Clayton"

His name is Clayton,,,,,,, Alastair Clayton (Chairman)

And the mug shareholders name is Ben,,,,,,,, as in Dover.


----------



## grizzly1 (21 August 2008)

grizzly1 said:


> From the 2007 Annual report
> 
> the issued capital included
> 
> ...




This is from page 26 for the Bannerman annual report 
section 12 Remuneration Report

There was a young Nubian prince 
Whos c.ck could make elephants wince
Whilst socking the sperm 
To a large Pachyderm
He slipped and has not been seen since

Nubian,,,,,, Namibian,,,,,, what's a line on a map anyway it's all one big Savanna,(h),,,,, the jokes are getting worse but I fear all on us holders though in truth.


----------



## Sean K (21 August 2008)

grizzly1 said:


> From the 2007 Annual report
> 
> the issued capital included
> 
> ...



He's no longer Chairman, and he's now residing in the UK. Wonder what type of input he has to the running of the company now as a Non Exec Director? Perhaps he's unloading some of his half price shares for some reason?

Still confused by his replacement as Chairman. A Fund Manager who lives in NY? WTF? 

SP looking grim, like a lot of others I guess. 

I've got no idea when a general bottom in the market will be found. Lots of talk in the US that there's more to come in the credit crisis, which will have a flow on effect. I thought the companies with great projects that seemed undervalued would be protected somewhat. Poor analysis.


----------



## shag (21 August 2008)

ok i got this from am question to an analysist....

Yes, I was talking to Extract yesterday. You often find out more about companies by talking to their competition! Basically, there is still some margin-call selling going on at Bannerman unfortunately. The stock still hasn’t recovered from initially being caught up in Opes Prime. Project going well but share price weak due to desperate sellers still exiting. 


i half suspected it due to its decline pattern, like last years margin callos, one after the next. self perpetuating.


----------



## grizzly1 (22 August 2008)

Thanks Kennas 
I guess I'm just expecting Clayton to come out that he's funded some oppies by cashing in some of the previously exercised gratuity,,,,, sorry executive remuneration,,,,, he gets 7.5 mill oppies at 40c and was around how long?? I looked at the accounts and to my eyes BMN spent more on executive remuneration than drilling, see my Ben Dover comment above,,,,,,, and NM etal in Opes prime,,,,,,, general current market,,,,,,, Uranium (amongst other commodities) on a downer,,,,,, buy on the rumour sell on the news re AA,,,,,, savanna,,,,,, starts to look like a perfect storm,,,,,, hey it could be worse,,,,, maybe it will be,,,,, whaddya say??? 
Some good news,,,,,,,, pay and pray.. like getting the Savanna monkey off their back,,, my feeling is that once something concrete is announced it will be viewed as a negative as it will engender a sense of sovereign risk,,, therefore will that be a time to buy, Some of the perfect storm conditions above must have abated by then but whether its a buy depends on how much they will have to tap the market, and whether the litigation will cast a long lasting shadow over the SP.....
Tapping the market depends on
How much cash do they have????
How long will it last at current burn rate???
(more importantly) How much will they need to meet the 2010 2011 production target.


----------



## Go Nuke (25 August 2008)

Gee once again a good turnover of shares for Bannerman, but failing to really gain any traction.
Even on a day like today

I would really like to see a statement released from management to give us shareholders some idea of wtf is going on.

Are we any closer to the Savanna thing blowing over yet??
Drilling??
Further analysis results from AA??
Something.....anything.....

Watching the share price fall from $4+ to todays price requires some reassurance from Bannerman that our hard earned dollars are well placed with this company


----------



## Resin (25 August 2008)

> Gee once again a good turnover of shares for Bannerman, but failing to really gain any traction.
> Even on a day like today





Most resource stocks are down today with the exception of a few which havent moved much in positive direction anyway. So that maybe a reason it isnt moving. It aint falling either which is nice to see.


----------



## Sean K (26 August 2008)

Geoff Stanley resigns from Chairman and is replaced by a fund manager, and now Peter Batten resigns on the spot with no explanation.

Clive Jones and Nathan McMahon lose gazillions in the Opes Prime disaster.

Some nice stability displayed by the board running into DFS and mining. 

But, who will be in charge?

Stock justifiably punished.


----------



## shag (26 August 2008)

f-ck that doesnt sound good
batten seemed like he was good for the company
todays announcement diudnt help the sp.


----------



## jake.s (26 August 2008)

I have a bad feeling about this!!!
I would say that the whole Savanah thing has gone pair shape. They want out.

Just my oppinion


----------



## Sean K (26 August 2008)

shag said:


> f-ck that doesnt sound good
> batten seemed like he was good for the company
> todays announcement diudnt help the sp.



I have a terrible feeling that he is leaving a sinking ship.

Perhaps the Savanna thing has legs?

Who was responsible for getting hold of the tennament?

Nathan McMahon....

The infamous Cazaly midnight pegger of a RIO fe plot in WA.

Could there be anymore negative sentiment hanging over this stock?


----------



## joelc (26 August 2008)

This resignation somewhat reminds of the ye ol' Marc Flory and AIM Resources scenario...

This doesn't gel very well with me at all...


----------



## shag (26 August 2008)

surely someonem haas some news from their emails to batten?
i was going to use the sinking ship analogy too untill i downgraded it to a sinking dinghy and my computer crashed.
their announcement says savanna havnt stated their claim, so we dont know what or if they have something of merit.


----------



## shag (26 August 2008)

heavy trading too, well over a million crossed already.....
i guess they dont cost much now at one hours trade.....


----------



## bollingerbob (26 August 2008)

I got a response when I asked why PB has left

They want someone who can guide the company through the "development stages -- both corporately and operationally". They want someone who has brought a deposit through to production and has had experience with global financial markets as theyre being approached by some "very serious opportunities".

Hopefully my interpretation of an email wont get me into any trouble with mods.


----------



## shag (26 August 2008)

bollingerbob said:


> I got a response when I asked why PB has left
> 
> They want someone who can guide the company through the "development stages -- both corporately and operationally". They want someone who has brought a deposit through to production and has had experience with global financial markets as theyre being approached by some "very serious opportunities".
> 
> Hopefully my interpretation of an email wont get me into any trouble with mods.




thats cr-p..
its such the obvious response. but u do not change over leaders and create further disruption when things are so bad.
u do it in s structured way too, ie have a replacement.
hogwash.


----------



## prawn_86 (26 August 2008)

Bob,

why not post the email in its entirity?

Editing out your name and personal details of course.


----------



## bollingerbob (26 August 2008)

shag said:


> thats cr-p..
> its such the obvious response. but u do not change over leaders and create further disruption when things are so bad.
> u do it in s structured way too, ie have a replacement.
> hogwash.




Its not cr-p. Thats corporate speak for we didnt think PB was good enough to lead us any further so we booted him.

If you come up with anything useful and more concrete than "thats cr-p" then feel free to reply.

If on the other hand you think I'm making it up go talk to BMN themselves.

edit: do agree with you on the timing though. Anyone could have picked better timing to swap leaders.


----------



## bollingerbob (26 August 2008)

From: "Ann Gibbs" <ann@bannermanresources.com>
Date: August 26, 2008 11:31:58 AM GMT+10:00
To: <bollingerbob>
Subject: RE: Reasons for departure of pb
Reply-To: <ann@bannermanresources.com>


The Board wants to strengthen the experience of the managing team. It wasn't
about Peter's contribution, it was their belief that they need someone at
the helm who can guide the Company through the development stages -- both
corporately and operationally. Someone who has experience bringing a deposit
through to production and who has experience with the global financial
sector. The Company is being approached by some very serious opportunities,
and they need someone who can evaluate these opportunities and who can lead
the shareholders to understand and economically measure the stages that the
Company will be going through as it heads towards production.

Ann Gibbs
Investor Relations
TSX: BAN
ASX: BMN
NSX: BMN
Bannerman Resources
T: 416-388-7247
C: 416-627-8872
E: ann@bannermanresources.com
www.bannermanresources.com


-------------

To: <ann@bannermanresources.com>
Subject: Reasons for departure of pb

Ann, very disappointed to see this mornings events that come with no reason
for the departure of pb. What was the reason for his departure?  
Did he resign or was he forced out? In either circumstance, or any other
that i havent mentioned, what was the reason behind pbs departure?

Regards,

<bollingerbob>


----------



## shag (26 August 2008)

it seems an excuse to me. 
i was expecting the make change because company is changing...story.
sadly i have no facts to report as facts on the ground for this company are not really there. todays statement held little.
its sad for the fact that he seemed to take the effort to respond to peoples queries and keep them updated.


----------



## shag (26 August 2008)

fat profits are going to give us a story on bannerman very soon so maybe they will give us an idea on if this company is worthy of our cash...


----------



## Go Nuke (26 August 2008)

Well....OMFG!

I felt a bit sick to be honest when i read that announcement.

I mean, at first i thought {Wow, they must have read my post yesterday asking for some reassurance}....but could they or BP *possibly have picked a worse time to announce this!!!* I mean OMFG!!!!!

It has me wondering..A) Did someone know this was comming hence the fall of the sp or B) would this fall in the sp be PB selling his shares in BMN??

He hold 7.5Mil shares + his wife+ superannuation bulls#!t...whats that going to do for the share price if he tries to offload that!

I am encouraged to hear that Savanna haven't lodged a claim yet, though was hopeing that if they missed their due date on that then it would be thrown out?
And I can kinda believe that perhaps pb isn't the best person for taking this to the next level.
But Bannerman will have to pick a bloody good CEO with some good credentials to impress me and the market i'm sure.

Really disappointed with todays ann...and becoming very broke because of it

Thank GOD i don't use margin loans.


----------



## peteai (27 August 2008)

Go Nuke said:


> Well....OMFG!
> 
> I felt a bit sick to be honest when i read that announcement.
> 
> ...




Hi Go Nuke,

This SP collapse does not make sense - unless either there is something really wrong which we don't know or the market has over reacted - I think the latter is the case ..(although 'think' & 'hope' are sometimes interchangable  With a low SP and doubts over Savanna makes getting finance is harder but hopefully the PDN example should give bankers some confidence that it is a viable business - just hope they don't dilute the SP to  finance development!! In the remote chance Savanna case succeeds what would be the outcome - common sense would dictate that a soln be found (rather than saying to BMN to clear out - as this would scare off any investment if it occurred)

PETEAI


----------



## Sean K (27 August 2008)

peteai said:


> Hi Go Nuke,
> 
> This does not make sense - either there is something really wrong which we don't know or the market has over reacted - I think the latter is the case ..(although 'think' & 'hope' are sometimes interchangable  Getting finance gets harder but the PDN model should give bankers confidence that it is a viable business - just hope they don't dilute the SP to  finance development!!
> 
> PETEAI



The correspondance I saw from the company (similar to above) says that PB wasn't the right man to take the project forward so he was asked to move on.

I'm not sure if many people are convinced this is the case.

Maybe conflict of interests in there...

Whatever the case, lets hope they don't employ a fund manager to oversee the mine development.

In regard to dilution, there will be. I think general consensus is that capex will be half debt and equity, so $200m ish dilution. At the current price they'll have to issue 280m ish more shares..

Seems to have steadied a bit today, but it's just one day.

Will be interesting to look back on yesterday and see if anyone can say it was an incredible buying opportunity. Or, not...


----------



## shag (27 August 2008)

thanks kennas
i think i'll still take a punt on the thing in a week if i have any cash and its well below a buck. like its a 4 to 1 punt, ie 4$ share for 1$, and at a pure guess i'd give savanna les than 1/4 odds of winning/a sucessful outcome for them.
i hope too no money leachers are put on top of this comp. to run it.
engineers/mining engineer are the best to do both jobs-manage development of the mine plus fundraising. its not rocket science.

now paladin has set the model, u copy plus enhance thru their mistakes and chnages in technology(ie onsite suphuric acid plant, electronic separation of ores etc).


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## peteai (27 August 2008)

kennas said:


> The correspondance I saw from the company (similar to above) says that PB wasn't the right man to take the project forward so he was asked to move on.
> 
> I'm not sure if many people are convinced this is the case.
> 
> ...




Issuing 280m shares seems very unfair at the current SP especially to those like Go Nuke - A better way IMHO is to offer options in proportion to shareholding - thereby rewarding those who have lost having shares now if they buy into the options & the dilution does not occur until the SP reaches a certain value - by which time sentiment in the company is much higher & can handle the dilution Any Opinions on this way of raising capital ?


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## Sean K (28 August 2008)

peteai said:


> Issuing 280m shares seems very unfair at the current SP especially to those like Go Nuke - A better way IMHO is to offer options in proportion to shareholding - thereby rewarding those who have lost having shares now if they buy into the options & the dilution does not occur until the SP reaches a certain value - by which time sentiment in the company is much higher & can handle the dilution Any Opinions on this way of raising capital ?



So, do investors purchase the options? At what price? And how much do they raise from this?

As an incentive options are sometimes issues free attached to shares and the company will make some money IF they are excised but it's not generally a way to raise capital for building a mine. 

They will issue shares and most will go to institutions, maybe a rights issue to current holders and some to the public perhaps. You will not escape the company being diluted significantly to raise the money for mine development. This is still some time off though, the sp may have recovered by then and they can sell higher. Or, not.


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## Miner (28 August 2008)

If I may add to what Kennas said, on options and making money by both Company and Investor depending on market is a classic scenario in today's market.

though not related to BMN thread but under context please refer to INES. It had a staple attached to each share issued. Claimed to be a free option exercisable at $1 which was the issue price back one year or so. The current market price for $1 share INES was 64 cents ! Who is going to buy it at $1? Both the company and investors were looser here.

Regards


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## peteai (28 August 2008)

I agree that this is not silver bullet.  My point with the options is that the likely scenarios is that the SP (already low) gets further diluted. I.E current investors get dudded EG often retail investors are excluded :from a raising to "sophisticated investors" who are offered a discount to current SP

If a mine were operating BMN would be worth something like PDN i.e about $4Bill say - thats $40 a share (existing share base). It may take 4 years to get there but at that point a holder may be very happy with a $3 exercise price. Partly financing the mine thru options may make getting finance from the banks easier - as a solution to not trashing existing shares & getting to a working mine shareholders may be willing to pay for options exercisable at say $3 or $4 up to 2012/13 , knowing that they don't have to stump up with the 4 bucks until the SP is well above that They may have to pay 50c a option (but these options could be worth > $10 if a mine is built).  

Like I said it is not a silver bullet for the mess we're in - but maybe with some tweaking it might be workable ??

PETEAI


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## bliimp (29 August 2008)

Boy, are we in a bear market or what!

Even the so called expert analysts are having a hard time! ... eg take Warwick Grigor of Far East Capital.

He took CTS (Contact Uranium) to his heart last year, even taking up a 1m share placement at 50c/share for an investment of $500k ... and look at it now ... CTS is hovering at 7c/share.

He also became a fan of BMN ... and look at it now ... hovering at 77c/share (from a high of $4 lst year)!

So what chance have us mere mortals!

Mind you, BMN's current predicament does not help it one little bit; what with board changes, a director getting embroiled in the Opes fiasco, the MD departing abruptly with no "real" explanation, and a court case literally becoming a noose around its head.

Sure, it is a bear market, the uranium price has fallen, but ineffective management as in the case of both CTS and BMN  is creating a recipe for disaster in this current market.

Mind you, if (and I repeat IF) BMN actually do get the right person in the top position, then imo, its fortunes could change dramatically for the better ...


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## Sean K (29 August 2008)

bliimp said:


> Boy, are we in a bear market or what!
> 
> Even the so called expert analysts are having a hard time! ... eg take Warwick Grigor of Far East Capital.
> 
> ...



I recommend at this point ignoring Warick's recommendations in the short term.

Of course, he's got more letters after his name than me.....

Yes, he must be hurting, if he actually invested in these companies...


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## shag (4 September 2008)

from fat profits today..for what its worth....
they call the savanna bussiness a spurious cliam, and lay blame also on opess saga
not much new really.
called it a hold, pdn a buy conversely.

their theory is fannie and fred will fall, gov will bail them out, print loads of cash to repay insto's, all post election 
then a very sharp rally, like the 70's(ie oil times again). all in this year.
calling next two months a buying opp.
sounds good to me...admitedly they did predict the start of this yr would be very bad.


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## Sean K (5 September 2008)

Shag, interesting they didn't think it was worth buying again, since their first buy reco was much higher. Over $2 wasn't it?

First decent day yesty in the long slide from $2.50, although not really convincing volume.

Watch for a higher low and high for possible new trend, other than down.

Looks initially positive though.

I'm still not confident in a buy and hold strategy on this after and still with their management troubles and legal overhang.

Short term, I might be looking at a trade, but since I'm on the road, not confident to be able to manage it. 

In the bigger economic picture, just all crap news coming in from all over the world, so care needs to be taken in anything imo.


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## shag (6 September 2008)

yeah i know, i laugh at fat profits some times when i see their story on a company, see how far its come back since their buy, and not rated a buy at that price.
does show they are fully not confident, but admittedly they do put some emphasis on technical trading.
i got some more at 72, so i do hope its on its way back.
i guess i'll eventually learn to buy on the way back up, rather than the way down plus trying to catch the knife.
thanks for the tips.
mak had a good day which supprised me.


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## shag (7 September 2008)

i know what bannerman needs to get it going, my mate osama....
hes a good civil man.....well maybe just civil (engineer), and he has a good history of getting things done. hes real good at announcements and updates too.
hell i recon the sp would shoot up if he was made md, thats if anyone can find him in the afgani mountains.
PS he must know a lot about rocks, living in them and all too.


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## SGB (7 September 2008)

Have been an avid reader in this thread for quite awhile now and have found the TKA ( The Kennas Analysis) to be  quite impressive on BMN. 

And once again found myself agreeing with this current environment, which is technically range bound, and not an effective buy and hold strategy as it once was.

Many good prosperous companies with exceptional fundamentals are struggling with their share price within this environment. Whether or not this changes in the future is something we’ll have to wait and see and whether the US dollar can reverse and bring the commodities back in play. Time will tell. 




captjohn said:


> I agree with you broadside....and I'll put my money where my mouth is!!
> 
> Kennas,
> 
> ...




 Curious to know whether you got on or not!

SGB


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## Sean K (7 September 2008)

SGB said:


> Curious to know whether you got on or not!
> 
> SGB



I don't think I formally took up the bet, but I have reminded him of his prediction on HC.

He shrugged it off as 'market factors'. 

Some merit in that, but how many % off was he?


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## SGB (9 September 2008)

kennas said:


> Some merit in that, but how many % off was he?




mmm.. fair point there has been a wee bit of selling of late.

BMN was up today and what looks to be a rounding bottom happening. Just had a look at the chart and gez it was oversold in the RSI last month.

All the best.

SGB


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## bollingerbob (10 September 2008)

Looks like the turnaround may have started. Very strong buy side today pushing the price up despite 1.4m shares changing hands.

Watch for a big run if we get some nice announcements.


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## Sean K (11 September 2008)

bollingerbob said:


> Looks like the turnaround may have started. Very strong buy side today pushing the price up despite 1.4m shares changing hands.
> 
> Watch for a big run if we get some nice announcements.



Just starting to make a higher high, a roundish bottom formed, but still too early to tell. May have started, agree.


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## Go Nuke (16 September 2008)

What BS!!

I dont care what the market conditions are anymore BMN sp has collapsed imo.

No updates on the Savanna!
How many others are losing a fortune with BMN when they thought $1 was a bottom, then 85c, then 75c.

Something HAS to be wrong.
Surely a company with the JORC resources that Bannerman has is worth more than 48.5c!!!
There are going to be ALOT of unhappy shareholdres at the AGM.
I wont be one of them, but already cast my vote for a big fat NO to pay rises and options!
Why should they get rewarded when I'm losing thousands!


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## Sean K (17 September 2008)

Crikey!!! 25% down to 50c, disaster for longer term holders.

Is it time to take a capital loss and buy back in? Or, just sell before it goes into receivership once the Savanna claim is upheld? 

Could just be overall market conditions too with every man and their dog bailing into cash?

That guy on HC who put ALL his super into this above $3.00 must be sleeping well. Good on the BMN band of brothers for supporting him in that decision.


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## shag (17 September 2008)

hi kennas
interesting all right, good volume yesterday too
i suspect its someone dumping their super funds...ha ha
fat profits r talking of some hammer candle, and a strong sign of turnaround...
at 50c, whats to loose i guess...
the good new manament r keeping us well informed as usual...groan


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## Go Nuke (17 September 2008)

BOOOOOOOOO:bad:

http://imagesignal.comsec.com.au/asxdata/20080917/pdf/00881014.pdf

13+ Mil abstain from the non exec directors pay rise....wtf???

That figure just doesn't look right!
Why would everybody bother to vote on the other issues but abstain from that one???? Someone help please becasue I just can't understand that!

That stink imo.
I'm losing money and yet shareholders vote for a pay increase!

There used to be transparency with this co, but now I feel left in the dark.
BMN smashed more than any other U players.

Thank goodness I dont have access to my super Kennas, i might have been as foolish as that guy you mentioned.
OR that I dont use margin lending.


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## Sean K (17 September 2008)

Go Nuke said:


> BOOOOOOOOO:bad:
> 
> http://imagesignal.comsec.com.au/asxdata/20080917/pdf/00881014.pdf
> 
> ...



I'm not on top of the current pay decisions, or have even looked at the link above, but directors et al, do normally earn their money.

In regard to votes, remember, a damn lot of directors and directors friends, and cousins, own XXXXX amount of the stock. We are pawns in this game.

Bloody hard time for long term holders, and investors in anything!

Nasty times to be an initial investor in the markets....



Good luck all.


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## eddyeagle (17 September 2008)

Seriously cannot believe this stock has fallen from 4 bucks to 50 cents! What a shambles! 

Fat Prophets say that the company is making great strides and to hold on to the stock.


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## Go Nuke (18 September 2008)

Well AMAZINGLY it seems to be holding 52c on a day like today!!

I'll take some consolation in that.

I can't believe it either eddy. I with my limited knowledge find it difficult to comprehend that we've fallen so far.
As I stated, its not like Uranium prices are falling in line with say gold or oil.
Though I do agree with what someone said recently and that was now that oil has fallen, the pressure is off to look at alternate fuel sources ie Uranium. 
Of course this is an extremely short sighted view.

Like I keep going on about, id love an update on Savanna..and I dread a T/O of BMN, as I'd loose big time with any offer put on the table


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## Sean K (9 October 2008)

I picked a bottom on this $1.25!

Nice work kennas! Haha

Just about arriving at some long term support, but not sure if S&R has any validity in this environment. Fear rules.

Just thinking out loud but if the Savanna thing is squashed, U does a U, and the market stabilises (maybe 3400 ish) then it may be a good turn around story down the track. If no to those three factors, then it's in a spot of bother.

Nice chart.... eeeek.

Anyone still holding long?


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## treefrog (9 October 2008)

kennas said:


> Nice chart.... eeeek.
> 
> Anyone still holding long?




bought 1/3 of my normal spec entry lot (use staged entry when price falling)at 89/90c seeing that as fib support level but didn't complete remaining buys and bailed at 62/64 after power spike down on 16th
very sad looking chart at present with next fib level at zero


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## Go Nuke (10 October 2008)

Yes still holding Kennas 

Originaly bought in at about $2.50 them topped up at $3+ then again at $1
Bannerman is 40% of my portfolio so sitting on MAJOR paper loss, but quite frankly in far too deep now and dont have any capital to enter the stock market.

If I sold out now it would be just crazy.
Wish I had the money to take advantage of these times, though id be buying producers not specs.


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## Sean K (10 October 2008)

Go Nuke said:


> Yes still holding Kennas



Crikey GN, I hope the experience assists in future investing endeavors. Maybe an expensive lesson, or there's still a chance of a turn around at some stage. Lets hope so. Can't help thinking that if the Savanna thing wasn't hanging over it that RIO or someone would be moping it up.


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## peteai (10 October 2008)

Anyone willing to have a guess at the chance at the savanna claim being  upheld ? 

Even if it were at 90% chance of being upheld at 28cents BMN is good value - but of course only if your willing to play at such odds (yes its a gamble but maybe good odds) i.e if savanna fails I believe the SP would go above $2.80 & much more if a mine commenced.

Personally I would speculate that the chance of the savanna claim being  upheld is much less than 90% but thats only my opinion. Anyone disagree ?

Maybe wishful thinking as I invested at $2 and thought may as well have a small dabble at 30 cents - maybe I need my head read

*PETEAI*


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## Go Nuke (10 October 2008)

Ah Kennas when i first got into shares it was during a fantastic bull market where it felt like you could buy into anything and make money, now Im faced with the complete opposite.

Great learning curve yes, but just to make things worse, I borrowed money to start a share portfolio and the outstanding debt is probably worth more than my shares.
Hence why I dont have anymore capital as Im trying to save for a house which is almost an impossible task on its own.

Other than this legal issue winning over Bannerman the next worse thing for me would be a takeover

the only bright note for me was selling out of FMG for a gain and buying into LNC. Unless they come out with a bad announcement.

As for Uranium wow look at PDN at the moment. T/O target or what!


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## shag (21 October 2008)

yes kennas
im stupid enough to b still holding, even bought a few on the way down.....
im hoping on the rio aspet too, savana must dissapear soon.
i was fortunate in a way i had to sell a lot of my portfolio to finance a dwelling(bondi beach rules!), selling my long held wpl at 47$ which i hated.
i've seen absolutely no suggestion that savanna wont go away at some stage. the sooner the better....


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## Go Nuke (23 October 2008)

Speaking of Savannah.....what the bloody hell is happening with that??

Why have we heard nothing. The last i heard they were late in lodging paperwork with the courts......and that was months ago!

Not very impressed with the information (or lack of) being given to us shareholders.


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## Sean K (31 October 2008)

Go Nuke said:


> Speaking of Savannah.....what the bloody hell is happening with that??
> 
> Why have we heard nothing. The last i heard they were late in lodging paperwork with the courts......and that was months ago!
> 
> Not very impressed with the information (or lack of) being given to us shareholders.



Not much flowing in regard to that eh GN. After the palm off email I got from the company in which they said the issue was 'important to us' (WTF!) I became a bit suss.

Last quarter they went through $6.3m, and they have $9.7 left in the bank. To get through BFS looks like they'll need another raising. Then I wonder where the Capex will come from? $400m ish wasn't it?


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## Sean K (31 October 2008)

PS, there's a handful of juniors whose charts are starting to round at the bottom.

Not sure if it's just a pause for another drop or what, 
but looks more promising to me, than not.


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## Sean K (3 November 2008)

IRT Savanna, a little dripping through from the Quarterly, but nothing to get excited about.

Still can't help but think that if the Motion is squashed, BMN will take off. Pending POU...

I note BFS has been put out.

*PARALLEL HEAP LEACH FEASIBILITY STUDY LAUNCHED*

 Preliminary metallurgical results indicate the potential viability
of heap leaching of the ore
 Potential for substantial reduction in capital expenditures
 Heap Leach testwork to commence immediately
 *Finalisation of the BFS will be extended to mid-2009 to allow
for this study to be factored into the final project design*

Forgotten the original date, but obviously puts mining back as well. You'd expect other delays to the program which is normal for these types of things.

RIO taking a bite into EXT was a surprise to me. BMN are much more advanced. Perhaps the Savanna thing put them off.

Still watching with interest. Could be a great turn around story if POU recovers back to longer term predicted prices of $90 ish, and Savanna is shot.


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## shag (3 November 2008)

i think rio will scoop them all, big numbers equals economies of scale and such. and hell they r the old timers of the place. plus why do the hard legwork when u can let others take the risk and sweat.
also, they can develop what area, as quick as they like depending on the price of the radioactive stuff.
plus when rio and bhp become one, with olympic dam, they can control the market. plus olympic dam equals loads of cu, uranium, gold etc so they need to produce uranium if they have immense demand for the others, but with a pure uranium play, multiple sites u can slow or speed it, with planning, ie open up two, three, six mega pits, or one at a time, all depending on demand for the radioactive stuff.
ps camacos cigar lake hydro plant will till be a hydro plant by then considering how useless they have been so far, tho if water gets a precious commodity in the future if may do well out of selling well radiated h2o.....


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## shag (4 November 2008)

any news for this recovery. like its way outside the market paramenters.
loose lips or news i've missed?
charting kennas, a white enough candel for you?


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## Sean K (4 November 2008)

shag said:


> any news for this recovery. like its way outside the market paramenters.
> loose lips or news i've missed?
> charting kennas, a white enough candel for you?



Excellent few days recovering well off what may have been a bottom. 

There's various downtrend and horizontal resistance lines with 50c and around 75 to be the major hurdles imo.

Volume doesn't look all that inspiring yet.

Certainly outperformed over the past few days, but had to after the significant underperformance I suppose. 

Looks pretty encouraging.


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## Go Nuke (4 November 2008)

Agree Kennas.

Though it is great to see BMN rise up from the depths of crap the volume is way off what you would like to see.

Mind you, when the sp rises on low volume, doesn't that equate to accumulation?

I think the time frame for production has gone out the window starting with the departure of PB. With the current economic climate and Savanna to add.

As for the capital raising, id imagine it will go to/through another insto.
Haywoods again maybe?

As much as i like Bannerman and have much in it, Id laugh if they expected me to put more money in....at this point of time. (If I had any anyway )


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## Sean K (6 November 2008)

Been some big buys go through GN.

Someone with 250K @ 50c this am which will wipe out a bit of the depth.

Unless it's pulled....



Maybe something's cookin?


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## Sean K (8 November 2008)

50c forming up as even more of a hurdle.

I simply can't enter this (even for a day trade) due to the Savanna black swan scenario - even though I think it's bogus.

Nice rounded bottom on this, like a few other specs.

We either saw a bottom on these, or there's another leg down, imo. Or, we go sideways for a while. Or, anything could happen... LOL :


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## Go Nuke (10 November 2008)

Yeah cant blame you Kennas.

Some news on Savannah would be nice?? (hint hint BMN management)

Familiar pattern here you think?

(Multiple Moving Averages)


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## Sean K (18 November 2008)

kennas said:


> 50c forming up as even more of a hurdle.
> 
> I simply can't enter this (even for a day trade) due to the Savanna black swan scenario - even though I think it's bogus.
> 
> ...



Potential significant break occurring. Waiting till eod but currently up 50% at .55. Looks promising on high volume...


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## Moneybags (18 November 2008)

kennas said:


> Potential significant break occurring. Waiting till eod but currently up 50% at .55. Looks promising on high volume...




In response to positive ann yesterday regarding 20m further funding and new CEO chap. http://www.asx.com.au/asxpdf/20081117/pdf/31dm9qd5fgyllv.pdf 

Anyone trading this would be doing well IMHO.......large jumps to the upside followed by gradual declines. Out of my league I'm afraid.

MB


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## maala (18 November 2008)

Go Nuke said:


> Speaking of Savannah.....what the bloody hell is happening with that??
> 
> Why have we heard nothing. The last i heard they were late in lodging paperwork with the courts......and that was months ago!
> 
> Not very impressed with the information (or lack of) being given to us shareholders.





Hi go nuke, I found this note on a web page a while ago... it's pretty scanty but seems a little more positive, who knows, hopefully the new boy will keep us a little more informed.

http://allafrica.com/stories/200809030678.html


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## Sean K (19 November 2008)

Failed again at .50. For now. Need EOD price..

Made one higher low, so not necessarily downtrending any more, but not up until a higher high through 50.


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## Go Nuke (19 November 2008)

Spot on kennas.
The volume is great to see but until imo it gets over 50c, then perhaps retraces and tests 50c....and holds....its still speculative

I thought the recent rally might have been based on the Forsyths takeover?
 (At least thats what i read somewhere recently)


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## bollingerbob (27 November 2008)

Its well over 50c now 

Start of a nice upward trend IMO.

(PS, I will remember to not pad posts next time. Sorry ASF)


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## Sean K (27 November 2008)

bollingerbob said:


> Its well over 50c now
> 
> Start of a nice upward trend IMO.
> 
> (PS, I will remember to not pad posts next time. Sorry ASF)



Yeah, looks like it's going OK, but I'm not getting too excited yet.

Next resistance 75 ish by the look.

General market sentiment has changed the past week or so and everything has gone for a little run. 

Could just be bear market rally for a little bit (maybe 2 months) and then back in the poo. 

If the Savanna thing wasn't sitting there as a Black Swan from HELL, I'd be much more comfortable sleeping at night.


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## the barry (27 November 2008)

kennas said:


> Yeah, looks like it's going OK, but I'm not getting too excited yet.
> 
> Next resistance 75 ish by the look.
> 
> ...




You still in Kenna's??? I think we are about to begin our final down leg on the market. Will maybe pick up a parcel again provided savana is out of the way when the market looks like bottoming, which should be sometime in 2010. lol


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## Sean K (27 November 2008)

the barry said:


> You still in Kenna's???



Sold out around $1.00 on the way down. Recently bought back in on break through 50, short term trade only. Market could go anywhere, yes, including implode. I'm guessing we're in a little recovery rally, with some jerks, before another major leg down, but it's a pure pluck. Maybe we saw a bottom. It's impossible to say how much of the future losses / negative returns are factored in. Overall, I'm not liking the economic decisions being made to stimulate the world economy, it all seems like bandaids to perhaps create a bigger disaster.


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## the barry (27 November 2008)

kennas said:


> Sold out around $1.00 on the way down. Recently bought back in on break through 50, short term trade only. Market could go anywhere, yes, including implode. I'm guessing we're in a little recovery rally, with some jerks, before another major leg down, but it's a pure pluck. Maybe we saw a bottom. It's impossible to say how much of the future losses / negative returns are factored in. Overall, I'm not liking the economic decisions being made to stimulate the world economy, it all seems like bandaids to perhaps create a bigger disaster.




Thats my sentiment, just have a few small shorts on for the moment. To me they are just sticking bandaids over a dam wall and at some point it will have to come down. If bmn can get savana out of the way will probably go into my bottom draw for a long term play. All depends though on where the market is at when it is concluded. You holding anything for the long term at the moment?


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## jake.s (28 November 2008)

I believe the price of Uranium has gone up, that's the only reason the share price has gone up.
If you have a look at all the other Uranium Companies you'll see that there share price has also gone up.


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## Go Nuke (7 December 2008)

Gee I was watching "Your Money, Your Call" this morning and just caught the end of the panel and Nina May discussing Bannerman.

She finished off by saying that the panel didn't know much about Bannerman Resources...yet one of the guys on the panel (of two) worked for Fat Prophets!!!! WTF is with that?

He has no idea of BMN??

Wish i had caught the full reply to the veiwers question about Bannerman.

As for BMN, its looking great at the moment.
Though bigger seller either looking to keep the price under 65c, or just an exit target (big holding though)

I'm still praying that a takeover bid isn't on the way!


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## Moneybags (7 December 2008)

Go Nuke said:


> I'm still praying that a takeover bid isn't on the way!





Me too GN, that would be very disapointing at current prices. 

Was bound to retrace a little after current run up but needs to stay above 55 IMO. 

Surprised to see you back in Kennas, I never revisit a stock once I've been burnt.......good luck to you this time 'round.

MB


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## Sean K (8 December 2008)

Moneybags said:


> Surprised to see you back in Kennas, I never revisit a stock once I've been burnt.......good luck to you this time 'round.



I'm happy to buy anything or sell anything if it adds up to me. And thus, I bought back in at 52, and sold at 60. If 50 acts as support now, I might chip in for a short term trade again, but 75 ish looks difficult. Savanna Black Swan does not make this a long term buy and hold prospect, imo. When I see current directors running around WA in the middle of the night trying to steal land off RIO, I wonder what they got up to with this one.


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## Sean K (11 December 2008)

Watching closely for another opportunity here. Between 70 and 80 looks tough after stalling a bit, now just going mindlessly about, but not down. Need 50 to hold for this base to have any real substance and a decent launching pad to materialise.


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## DAZT49 (11 December 2008)

capper sitting at .655c has been there for quite a few days.
buying around  60c IMO
Till he has got his fill we will stay at these levels ie 58c-61c ish


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## Sean K (13 December 2008)

DAZT49 said:


> capper sitting at .655c has been there for quite a few days.
> buying around  60c IMO
> Till he has got his fill we will stay at these levels ie 58c-61c ish



Do cappers normally allow their orders to be taken out in a minute?

Perhaps it was just a big sell?

Maybe he sold it to himself? Or a mate on the next desk? Not sure if that's legal.

Whatever the case, went for a nice run, but halted at the lower end of the obvious resistance zone. 

Will be interesting to see how it goes here. 

Overall, nice recovery from 25c low.


----------



## Go Nuke (15 December 2008)

Uh Oh.....could this be the take over bid comming??
The environment is ripe for it.

At least we could probably cancel Rio out of the bidding.

Areva? Paladin perhaps?

They wouldn't have to announce a trading halt just to tell us any substantail holdings.

Interesting times ahead. What are everyone elses thoughts on the TH


----------



## shag (15 December 2008)

isnt bhp going to buy rios namibia stake?
make one hellova big mine and better control of uranium esp when olympic dam comes online.
ps i bought a few back in from near its lows and upwards.
any comments on aio kennas, like i bought in at 99c re a tip. some tip....


----------



## Go Nuke (15 December 2008)

shag said:


> isnt bhp going to buy rios namibia stake?
> make one hellova big mine and better control of uranium esp when olympic dam comes online.
> ps i bought a few back in from near its lows and upwards.
> any comments on aio kennas, like i bought in at 99c re a tip. some tip....




My tip is "please dont be a lousy takeover!!":shake:
Paid far more than any offer that will be put on the table. 

I was like PB... once upon a time......I had a dream...a dream of a glowing massive pit in the Nambian desert named AA...:thankyou:

OR.....

It could be to say...Savannah is a load of crap and its all systems go.
THATS what Id prefer to hear:>


----------



## inenigma (15 December 2008)

Go Nuke said:


> Interesting times ahead. What are everyone elses thoughts on the TH




I was hoping somebody else knew what the TH related to.  Doesn't sound like you're too impressed GN.  I'm only a new comer so I fluked this.


----------



## Sean K (16 December 2008)

Odds are on positive news considering the price action of previous days, but just odds on.

A 'material company update' inferrs something other that drilling results, (otherwise they would have said drilling results), and wouldn't be funding, as that has just been completed, so I assume it's either Savanna, or takeover.

For long term holders I hope Savanna positive resolution, but not takeover as that would be opportunistic at this time in the cycle and true value may not be found. 

If it's Savanna positive resolution, the stock will explode.
If it's Savanna negative resolution, the stock will implode. 

Good luck!


----------



## mu5hu (16 December 2008)

Hey kennas,

To keep my hopes up, what target price do u mean by explode? or u just using the word as a description for damn good day
hahaha

Cheers


----------



## Sean K (17 December 2008)

mu5hu said:


> Hey kennas,
> 
> To keep my hopes up, what target price do u mean by explode? or u just using the word as a description for damn good day
> hahaha
> ...



LOL Mu, yes, just a very good day I think. It would be just a guess to put a number on it. 

Of course, that's if it is the positive resolution of the Savanna litigation. I think this has really put a negative shaddow over the stock, especially knowing the history of McMahon and Palmer. 

Worst case could be that the EPL was actually awarded unfairly and then the whole project is up in the air. 

This is just speculation of course. The halt could be something out of left field.


----------



## Sean K (17 December 2008)

Well, they've settled the deal and Savanna must be happy to getting this money out of them and the free shares.

Might be worth a pretty penny one day.

The monkey is off their backs.


*Details of settlement agreement*

Under the terms of the settlement agreement, in consideration for the termination of the proceedings, Savanna is entitled to receive up to A$3.5 million cash and 9,500,000 fully paid ordinary shares in Bannerman.


----------



## Sean K (17 December 2008)

kennas said:


> *Details of settlement agreement*
> 
> Under the terms of the settlement agreement, in consideration for the termination of the proceedings, Savanna is entitled to receive up to A$3.5 million cash and 9,500,000 fully paid ordinary shares in Bannerman.




Obviously the terms of this agreemenet have not met some expectations.

I see it as long term big picture good however, and reckon it might recover. 

This was potentially a company destroying event, and they can brush their hands of it.

Probably still puts management into question and the process for the EPL in question also.

That's a lot of money to dish up when you are confident that the proceedings had no foundation.


----------



## Sean K (17 December 2008)

Hahaha, McMahon has his head removed, most probably for the EPL shananegins and who do they put in? A big brother from Resource Capital who are chipping in the money to keep them going. His qualifications in building a uranium mine? His company is giving them $20m, that's it. 

Good timing with the ann.....

lol

*Perth, Australia – 17 December 2008 – Bannerman Resources Ltd (ASX: BMN, TSX: BAN)*

("Bannerman" or the "Company") an Australian-based uranium mine development and exploration company with uranium assets in Namibia, is pleased to announce the appointment of Mr James McClements as a non-executive director of the Company.

Mr McClements is a co-founder of Resource Capital Funds, which he has led since inception, and is responsible for the implementation of the Fund's investment strategy. 

Bannerman also advises that Mr Nathan McMahon, a non-executive director has tendered his resignation from the Board.



Perhaps this is all good for BMN. Even though McMahon pegged the site, he's proved a liability with the Opes fiasco and now this Savanna extortion, which looks to be based on his dodgy activities.

No worries, one of his hic mates will have him on another board in moments.


----------



## Sean K (17 December 2008)

Recovering ok.

Making it's way through this resistance zone.

Taken a stab at calling the bottom area now temporary support for the break up.


----------



## Go Nuke (17 December 2008)

Yeah at least it wasn't a T/O. But now it could be more appealing seen as Savannah is out of the way.

I'm filthy over Savannah though!! How F&^%$#@ is that!!
Typical of companies ...just throw some money and shares at them to make it all go away!
DISGUSTING!

So is this going to dilute our holding to give these bastards the shares??
Is there anything I can do as a shareholder to tell Savannah to get stuffed with the second alottment of shares?

Hey maybe I'll put in some dodgy land rights claim or something and Bannerman will give me 9+ Mil shares!

Bitterly disgusted over the whole thing!


----------



## Moneybags (17 December 2008)

Well despite my disaproval of this payout I can see it was the best way to move forward for the company. 

Buyer interest should return now as a huge risk has been lifted, not to mention possible TO from larger players down the track. BMN undervalued compared to other companies such as EXT which IMO should indicate which way SP is headed.

I have added another parcel to my holding today following the ann.

MB


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## Sean K (19 December 2008)

This may be on the radar for a major now with Savanna dusted. 

If the nuclear option is going to be pursued further in light of GW as many expect and BRIC continue their development then POU may recover and get back to attactive levels for these developers. I think Obama has more nuke energy on the energy plan also. BMN are claiming there's going to be 10m lb shortfall just this year. Not sure what's ramping up except for LH and Cigar Lake is still flooded I think. 

Nice big rounded bottom working into a decent cup. If it clears this resistance not much holding it back till the $1.30 ish mark perhaps.


----------



## Moneybags (19 December 2008)

There was large sell orders ( capper ) on 80.5 most of yesterday........178k taken out in closing auction, positive signs going forward IMO. 

1.30 has acted as significant support twice in the past and I suspect that is where we are headed. 

MB


----------



## shag (22 December 2008)

it does sound like a large payout just to get a monkey off of yr back. u'd think a couple of mill over there would buy a lot of 'favours'.
it really sounds like bannerman are not capable of developing a good mine, like i realise its best fiscally to pay them out, albeit a large payout!, but it smells of roots of incompetence to me re the past. they created/allowed a problem to occur, and did not deal with it untill the last minute.


----------



## shag (22 December 2008)

damn u kennas, your charts must have got out to the taxi drivers and its run away from order....
one thing to dwell is how strong was their case, savanna, and its correlation to its very low lows. numerous people must have known the full facts.....


----------



## Sean K (22 December 2008)

LOL shag!

Is looking really good to break through at the moment, but shouldn't call these things intraday. There may be some people on this run early too who might start to consider profit taking. 

I'm generally bullish on this again with the Savanna thing out of the way, and NM falling on his sword. Just need further gains on POU and the market to stabilise and investors will start to part with their cash again.

Still risk with the market falling over again and going into the abyss, so no buy and hope on anything for me...


----------



## Sean K (26 December 2008)

Looks to have broken through. Had a tremendous run and you'd naturally expect some consolidation soon. Some old minor resistance at $1.00, but obviously $1.30 ish is the big hurdle, as mentioned. Not must really between here at that level imo, pending market reimplosions. XAO is coiling sideways and if it breaks down could be a nasty fall.


----------



## shag (30 December 2008)

a slight consolidation today kennas......
i'm back in for even mopre.
hopefully soon it will bypass ext, tho i do like ext hi grades, but like u said, its rangebound, done squat over two yrs or more.
u've chosen the mecca of the worl for new year mate. i'm a bit enviouis, tho bondi beach aint bad either. god its tought living near the sand and chicks.
the market obviously likes the holiday period.
hope we all make a motherload this comming yr too.


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## Sean K (4 January 2009)

kennas said:


> Looks to have broken through. Had a tremendous run and you'd naturally expect some consolidation soon. Some old minor resistance at $1.00,






shag said:


> a slight consolidation today kennas......
> i'm back in for even mopre.



Consolidatng as expected Shag, and hopefully the previous resistance turns support. If it does, is a very good signal...


----------



## panikhide (8 January 2009)

kennas said:


> Consolidatng as expected Shag, and hopefully the previous resistance turns support. If it does, is a very good signal...




Chartwise, we may have found that support. Today's trading reveals a hammer on the BMN chart, which is a good sign that we may have seen the end of a declining price trend.


----------



## Shtav1 (11 January 2009)

I got a position on this one also. True abou tthe support line now. Hopefully with this recent economic downturn it can hold it. Some money to be made if it does head up to the 130c resistnace mark. I got on at 89c so am out of it now but will take the 130c happily. 
Guess the big news will be the resource estimate.


----------



## Shtav1 (15 January 2009)

Sure its been tending down, but not as much as many others. Anyone got a charting programme who can tell where that support line is exactly? Seems to be around 70c ish.


----------



## Sean K (16 January 2009)

Shtav1 said:


> Sure its been tending down, but not as much as many others. Anyone got a charting programme who can tell where that support line is exactly? Seems to be around 70c ish.



Don't need a charting program to tell you where support is Shatav1, just look for where previous highs and lows line up and draw a line through them. See the blue lines on my chart 4 posts back. You'll sometimes find one nice line, but you'll usually have a zone of support, as in this case, between the blue horizontal lines. By my last chart the diagonal support trend line has been broken, but it's still short term up until the horizontal line is broken.


----------



## Shtav1 (16 January 2009)

kennas said:


> Don't need a charting program to tell you where support is Shatav1, just look for where previous highs and lows line up and draw a line through them. See the blue lines on my chart 4 posts back. You'll sometimes find one nice line, but you'll usually have a zone of support, as in this case, between the blue horizontal lines. By my last chart the diagonal support trend line has been broken, but it's still short term up until the horizontal line is broken.




Cheers Kennas. As for charting I got an old metastock version but no data anymore. Only use brocking site and they dont have the draw line capability I dont think. Looks like BMN is going to test that support line real soon. Darn!!


----------



## Go Nuke (4 February 2009)

Small trades all day...is this being played or what! 

I like it how a small late parcel came through after close to put the sp up 2.5c. to 62.5

What are peoples thoughts?
Someone trying to keep it down?
Bigger player slowly accumulating again?

Interesting times.


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## shag (11 February 2009)

anyone with ideas on why the resergence of bannerman. i noticed the depth changed last week around when it started to move.
pdn has moved too, i guess from peoples charts its got free air presently but still.
i guess its just people keen for more radiation.
we havn't had any news from them for a while either other than the savanna sideline issue.


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## Sean K (12 February 2009)

shag said:


> anyone with ideas on why the resergence of bannerman. i noticed the depth changed last week around when it started to move.
> pdn has moved too, i guess from peoples charts its got free air presently but still.
> i guess its just people keen for more radiation.
> we havn't had any news from them for a while either other than the savanna sideline issue.



Recent resurgence because the directors and staff can't keep their mouths shut about a resource upgrade. They should have got a please explain yesterday at least. Then on the open, the directors girlfriends dump their shares, as you do. Nice tidy stag profit there.


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## jonojpsg (12 February 2009)

What do you think about the upgrade kennas?  Pretty reasonable shift to indicated (90m lbs) with still 37m lbs inferred for a total of 127m lbs.  

With the deposits north and south to continue adding to the total 

Hopefully we might see some more upward movement when this spreads?


----------



## Sean K (12 February 2009)

jonojpsg said:


> What do you think about the upgrade kennas?  Pretty reasonable shift to indicated (90m lbs) with still 37m lbs inferred for a total of 127m lbs.
> 
> With the deposits north and south to continue adding to the total
> 
> Hopefully we might see some more upward movement when this spreads?



Yeah it's good but although they're more advanced, I think punters are switching into EXT because of the grades.


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## Go Nuke (13 February 2009)

kennas said:


> Yeah it's good but although they're more advanced, I think punters are switching into EXT because of the grades.




And perhaps a T/O from Rio. Especially with the Chinese sniffing around Rio.

We all know China are building more reactors so the question has to be asked..... Where do China currently source their Uranium from? Kazakhstan I suppose. And according to Wiki " Kazakhstan forecasts that it will become the world's leading exporter of uranium by the year 2010"

Spose thats their words though.

Anyway, perhaps the chinese might want to pick up some uranium that they can gain through Rio?

Food for thought.

ps agree directors couldn't keep their mouths shut. That was pretty bad


----------



## shag (17 February 2009)

well it seems someone pressured the regulators to get off of their arses.
bmn have a convenient excuse seemingly up their sleeve.
i'm still plenty sus about them being geniune. i watched it and it just didn't look right, esp the last day before the announement.
i guess if u r going to play the game/rort, you should have plenty of backup plans in the rare event the regulators actually take notice.
its a shame the push in ext hasnt moved over to bmn, i guess its like kennas said.
there is apparently a namibian/SA government commissioned report from the 70's which indicates the whole place is likely full of the stuff. maybe bmn's other anomalies will come into play one day.


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## mitch87 (27 March 2009)

well what a great buy ext were just a few months ago, rio picking up more interest taking it to 15.5%, speculation surrounding ext that a move by rio to acquire all of ext has driven their sp to almost $4.....incredible, giving them a market capital of $870m....HUGE!!!!!!!

im not sure exactly what EXTs namibian mine is worth, but obviously rio highly value it, and if they are still buying when ext is this expensive amazes me, or are they still cheap? closely approaching 1 billion im not sure if they are cheap, however it turns my attention to BMN, although they havnt had as high grades, they are far more progressed with mine development studies and to my belief, have a larger resource base, correct me if im wrong, although i acknowledge ext have only focused on a small area of drilling, with so much more to do

so my point is, discounting EXTs value for potential funding aid and or takeover from rio and ext higher grades, adding back the fact that BMN are so much more closer to mining uranium than ext, with bmn MC at a mere     $132M, are they undervalued??


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## shag (27 March 2009)

yes but the grades r so key
it seems ext has a diff geological makeup, tho im no geo. i was too pissed or hungover or bored to notice much in eng geo, plus on field trips would have a large proportion of pub visiting, about 50pc pub time as a ratio.

anyway, bmn's location is a wee way away, so maybe they have a similar body where the u has concentrated. 
only a geo is going to know if thats on the cards with any sig probabillity.

see the chick who wrote bmns report todday is only just out of school, like 7yrs geo is squat. most is so dry n boring, but some is intuitive and gained experience. they may be a bit hard up.....


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## Go Nuke (30 March 2009)

WOW

A double top formed today but rather looking at it as a bit of a cup and handle maybe?
Ok, the cup isn't very deep for that but after 6 consecutive days up its bound for a rest, which will create the next part of the handle.
With all the heat in uranium and Namibia at the moment though, it could well break up through $1.04, with a price target of about $1.50.

Although $1.40 looks a bit more likely.

Agree Kennas??


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## Sean K (2 April 2009)

Go Nuke said:


> WOW
> 
> A double top formed today but rather looking at it as a bit of a cup and handle maybe?
> Ok, the cup isn't very deep for that but after 6 consecutive days up its bound for a rest, which will create the next part of the handle.
> ...



It's a bit of a deep cup, which is fine, but my chart is missing a handle. Pretty deep for a double top too, but that didn't stop it last time.

I'd have a guess and say that those that switched to EXTs mammoth run, may have switched back here for a while. Or, maybe they're playing both. EXT resourse does look better at the moment, (as you can tell by the current MC comparison) but who knows what either of them could find just around the next alaskyte.


----------



## Moneybags (2 April 2009)

I sold my trading parcel the other day @ .99 thinking it had run too hard.......waiting for a decent pullback.......but she's gone and rocketed over 1.04 today and closed at 1.085. 

Still, the LT parcel has benefited from todays run and hopefully it will continue to 1.30 - 1.40 region where there was good support previously.

GN......you must be pleased with todays effort.

MB


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## the barry (3 April 2009)

As kenna's stated who knows what they will find on the next drill run. 
They are meant to start their initial drill run on the targets next to the langer heinrich mine this month, which should stir up a bit of interest.Then you have the BFS study coming out in june. When you think that the share price largely came down over the opes prime fiasco and savana-gate, in terms of a risk/reward play i think this one looks pretty good. Short term resistance is now broken on the highest volune in many months and the next resistance point looks to be $1.40. Will be a very interesting days trading coming up that is for sure.


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## Go Nuke (3 April 2009)

Moneybags said:


> I sold my trading parcel the other day @ .99 thinking it had run too hard.......waiting for a decent pullback.......but she's gone and rocketed over 1.04 today and closed at 1.085.
> 
> Still, the LT parcel has benefited from todays run and hopefully it will continue to 1.30 - 1.40 region where there was good support previously.
> 
> ...




yes and no MB.

Because I was an idiot and believed in this company years ago, Ive held all this time and my average price is now about $2.

So good to see it rise, but a LONG way off the money for me sadly.

I'm sure it will gt there, but its depressing to see others make so much out of it now, whilst Ive held long term and dont have the ability to benefit as much from the recent gains.

Oh well lessons learnt.
Cash is better during a market meltdown


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## Absolutely (3 April 2009)

Go Nuke said:


> yes and no MB.
> 
> Because I was an idiot and believed in this company years ago, Ive held all this time and my average price is now about $2.
> 
> ...




Same boat as you GN. My average is $2.18. Not about to sell out now though, been with it so long.

Nice to that it has gone for a run. Seems to be stalling for today now though.


----------



## Moneybags (3 April 2009)

Go Nuke said:


> yes and no MB.
> 
> Because I was an idiot and believed in this company years ago, Ive held all this time and my average price is now about $2.
> 
> ...




I hear ya GN........I've held this from much higher levels too.......but I sold out of a few dogs and have been using that cash to trade BMN. 

With each successful trade I am able to buy back more shares and hopefully do the same again and again until I am square. Unfortunately she has run away on me and I would be a fool to chase it as I have before. I am waiting for things to settle once more. Patience is something else I have learned from the bear.

You are far from an idiot GN.......don't beat yourself up.

Commiserations to you too Absolutely.

MB


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## shag (4 April 2009)

the price rise coincides with rio's noise on ext and trying to gain some sort of control. bmn's staked area isnt far away from rios mine, so maybe if ext gets in the too hard basket, they might look further afield and keep ext on hold.
anyone know why rio got into bed with iran in rossing, was it all back in the days where iran was a proxy western state? even then it seems strange.


----------



## shag (6 April 2009)

had a strong ending today. i feared it may have collapsed, but its a good white candle by my guess.
any thoughts guys. hell i wish i knew a geo who was over there or knew mates there. like these potent grades(like ext) must show up on radiometric surveys or such and give u a clue if theres a possible real hot bed like extract, unless its got a lead layer over it...
i suspect we will be the last to learn if bmn has a similar geological anomaly.
i guess we can all learn from ext's announcement of hot levels, and a massive subsequent sp soon after. i was fooled by its years of floating on a dollar.
fat profits for all they r worth said to take half of ext off the shelf to fix profits last week at 5 bucks after hinting it was getting lofty well before this.
i guess they have to try to make themselves look good after such a dismal performance for some time.
iran being on yr register can't be good, god knows what rio is thinking. like one stuffup doesnt mean two stuffups are ok.


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## Sean K (7 April 2009)

Yes, nice finish. Had an outstanding run. Potential DT probably off the table now. That resistance should now be support I think. I thought some people may shift over from EXT but it just keeps going up and up as well. Incredible.


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## WRONG'UN (7 April 2009)

For all the hype with EXT, BMN has done just fine, increasing 5.2 times since the Nov 08 low, compared with 6.7 times for EXT - hard to believe when looking at the charts.


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## big sal (8 April 2009)

BMN defied the market drop yesterday and is doing so again today. Seems if it can crack through the $1.30 level then sellers could thin out quickly.


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## shag (15 April 2009)

another big day today, done a mill in first half hour of trade, unlike yest held onto a buck.
floating around a bit.


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## happytown (20 May 2009)

ann out regarding drilling update at the oshiveli prospect at the etango project in namibia



> ...
> 
> Broad higher grade mineralised zones often close to or directly from surface.
> Highlights include *43 metres at 514 ppm* U3O8 from 148 metres downhole, *77 metres at 314 ppm* U3O8 from 19 metres downhole, and *22 metres at 332 ppm* U3O8 from 15 metres downhole.
> ...



cheers


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## Sean K (20 May 2009)

happytown said:


> ann out regarding drilling update at the oshiveli prospect at the etango project in namibia
> 
> cheers



Yep, great results. Before EXT started producing 500 ++ ppm over 100m or so. They might make a mine out of this in the long term, if POU holds up. If POU comes off, or stays relatively low due to all the other projects coming on line, then grade and cash costs will be king.


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## DAZT49 (20 May 2009)

Well the market certainly didnt care.
Current SP $1.07 same as last nights close.
Guess its not 2007 anymore.


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## shag (20 May 2009)

yes the market couldnt care. one bit of ore had 1700 odd ppm.
you would hope one of their anomalies is a real earner gradewise, but i guess drilling them is some time away.
none of their holes in this one anomaly has near the 'bonanza' grades the ext has.


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## Go Nuke (20 May 2009)

Thats true, but BMN are far more advanced than EXT at this point of time.
Bannerman will have an income once the mine is up and running.

The grades appear to MAYBE strengthen towards the north which looks good.

Oh and the fact that BMN haven't get a big gun on board yet (like RIO with EXT) I think just adds a bit of excitement to it

If the Chinese or someone else take a stake in BMN, then the sp will take off for sure


----------



## DAZT49 (20 May 2009)

I know we need peer group comparisons, but as a non holder of EXT I do tire of the constant pumping of that stock on BMN.
Can you please compare with something else, like BNB, a stock I got lumbered with and bleeding profusely$$$lololol


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## shag (21 May 2009)

true sorry, i ironically have bmn, and none of the toppy 5 buck stock we wont mention.
my point is bmn hopefully have a really hi grade ore body somewhere on their tennent as well as this decent ore body. plus if bmn becomes uneconomical to mine, i'd hate to own pdns african holdings.

im just sick of it floating above a buck. its off today anyway for a run.


----------



## johannlo (21 May 2009)

Can someone shed light on the cashflow situation as presented by the last quarterly report?

They have 4.6million cash.
Their anticipated spend next quarter is 6 million.
Does this mean they'll be drawing on thier 20 million Loan facilities/Convertible Notes to finance their future activities? seeing as there is no income yet.

thanks in advance


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## shag (22 May 2009)

i guess everyones read it but i'll put it in for a ramp.

http://business.smh.com.au/business/bhp-gears-up-for-uranium-surge-20090522-bhju.html

as for cashflow, it will all be out for sometime, they will need way more than 20mill to finish the feasibillity stages i would guess. kennas seems to have a handle on these things, but hes likely too drunk to read or underwater trying to get some shark to nip him at present, on his *month *long holiday.

they need to drill, drill and drill, and find someone to take part in anomally a miningwise, or buy it outright, then drill the next anomally.

all i really know is nuclear power stations presently need big amounts of uranium on startup, and still large amounts yrly.

bhp wouldnt be starting a sole u mine, along with the olympic dam expansion- which is going to dump u on the market whatever the price, unless it firmly believed in pou going up.
and why bother with capex, time etc on this when u could use it for alternate mines/reources, at a time when u can get them at a much reduced amount, unless it sees it as being a big earner. 

you might find china starts stockpiling u as well, like its strategic reserves of other metals-which it is increasing. owning mines in aus is all very well, but when vital resources start becomming scarcer, and aus has a stronger millitary, having yr name on a document may become meaningless.


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## Sean K (24 May 2009)

shag said:


> kennas seems to have a handle on these things, but hes likely too drunk to read or underwater trying to get some shark to nip him at present, on his *month *long holiday.



Just over 2 weeks in and will be in a position to make a comment tomorrow, or the next day shag.  Heading back to Playa tomorrow and hopefully our favourite hotel with wifi. Cheers.


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## Sean K (27 May 2009)

kennas said:


> Just over 2 weeks in and will be in a position to make a comment tomorrow, or the next day shag.  Heading back to Playa tomorrow and hopefully our favourite hotel with wifi. Cheers.



Sorry, forgot about this.

In Halt at the moment for a capital raising of $30m. That probably answers the question about needing cash... 

Hope it's not at too much of a discount for you guys.


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## shag (27 May 2009)

bugger, i thought it might be a juicy takeover or they struck some gold or oil or such.
at least cap rasings have been going ok, maybe it will tell us how the north americans view it now ext is more evolved. was it one/two? yrs ago now some got onboard.
for a measly 30mill im supprised they didnt get u to rob yr piggybank to quietly sort it out.
sub or post a buk. maybe we could take bets. looks a bit bad if sub a buk i guess.


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## DAZT49 (27 May 2009)

the sp was slowly starting to climb.
I guess the cap raising would be at around $1.10 (rough average of last 5 days trading) so would expect SP to drop.
Or am I up the wrong tree??


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## Ruincity (27 May 2009)

I envisage at least a 10% discount on the last trading days price. 
I will be happy if the capital is raised above $1. 

Anything below will be disappointing yet not surprising...


----------



## the barry (27 May 2009)

Ruincity said:


> I envisage at least a 10% discount on the last trading days price.
> I will be happy if the capital is raised above $1.
> 
> Anything below will be disappointing yet not surprising...




Considering cap raisings form the majors have been at a far greater discount than this, you are more likely looking at something around the 90 cent mark. I think the vwap from the previous 5 days is about 1.10 and they have stated it will be more around the 20 percent discount mark.

I think we will be looking at the 30 mill cap raising, what will be interesting though is how much they intend to raise through the spp and how they go about doing it. 

Anywhos I am sure all will be revealed soon. 

At least the below article has some positives. If they manage to fast track production that obviously has some major advantages. 

From Proactive Investors:

"Wednesday, May 27, 2009
Bannerman Resources Seeks Financing To Fast-Track Etango Uranium Project, Namibia

To develop Bannerman Resources' 80% owned Etango Uranium Project in Namibia, the company is seeking to raise $30 million via a placement to institutions. Bannerman will use the funds to complete the feasibility study of a large open pit operation at Etango. 

The company will also offer existing shareholders a share purchase plan to buy shares at the same price as the placment."


----------



## Go Nuke (27 May 2009)

Hmm looks like I better keep working the O/T to buy some more shares.

How many more cap raising can companies come up with lately..lol


----------



## shag (28 May 2009)

yes i have the pru, mak, now this for my need cash for list.
i'd better get an even bigger loan.
its good they r offering us some. a few oppies like mak would be a bonus.


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## eddyeagle (29 May 2009)

Go Nuke said:


> Hmm looks like I better keep working the O/T to buy some more shares.
> 
> How many more cap raising can companies come up with lately..lol




I agree! It seems every company in my portfolio or watchlist is trying to raise some cash at the moment! Very frustrating!


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## the barry (29 May 2009)

Cap raising done at $1. Very suprising and very good. They were thinking it would be done at a 20 percent discount, this is only at a 9 percent discount. 

Great on all fronts.


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## shag (29 May 2009)

yes and pleasing to see the spp isnt postdated like the rediculous and vauge mak one. same size odly, 15k.
also to add to the mix, see polo is involved in this now via regent pacific.
the oversubscription at not too much of a discount spells positively too.
just need a bit of a play on it, its neighbour languished around a buk for ages till rio and co heated up the mix, and well before it took off it had good grades.
and this one is nearly ready for the diggas, dozers and plant.


----------



## stock nub (29 May 2009)

Stephen Dattels who is the one behind the kalaharri/polo shareholdings in EXT just happens to be the major shareholder of Regent Pacific the guys just issued with $10 mill worth of shares.

A coincidence i think not????


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## Sean K (1 June 2009)

Outstanding breakout here.

Looks way undervalued now compared to peers (EXT), but I am concerned that EXT has run too too hard and might be overvalued at this stage of the game.

Might be some switching occurring here.

Yet another recourse company that's made multibagger gains in just a few months.


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## Go Nuke (1 June 2009)

kennas said:


> Outstanding breakout here.
> 
> Looks way undervalued now compared to peers (EXT), but I am concerned that EXT has run too too hard and might be overvalued at this stage of the game.
> 
> ...




Yeah for those that bought in at 25c Kennas..not me though

I too have believed that Bannerman is undervalued..just never really had the capital to average down far enough.

That and I didn't want to put all my eggs in one basket


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## Moneybags (1 June 2009)

Go Nuke said:


> Yeah for those that bought in at 25c Kennas..not me though
> 
> I too have believed that Bannerman is undervalued..just never really had the capital to average down far enough.
> 
> That and I didn't want to put all my eggs in one basket




Never mind GN just make sure you find some capital to pick up shares in SPP........you'd be doing all right if prices stay here or continue higher.......nearly 50% gain for being faithful. 

MB


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## rustyheela (13 June 2009)

*BMN - SPPlan*

Would any one have an idea how much the SPP for BMN will dilute current holdings based on the share structure

Fully Diluted      182,210,934m shares ( including board options as at 29 april 2009) 

and the maximum to be raised is $ 7.5m = 7.5m new shares @ $ 1.00 so would that equate to a reduction in share price of a few cents?

 $1.00 for the new shares based on current price $ 1.33 is a 30% discount so trying to gauge price fall ex new shares ll being healthy on global financial markets


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## Sean K (14 June 2009)

*Re: BMN - SPPlan*



rustyheela said:


> Would any one have an idea how much the SPP for BMN will dilute current holdings based on the share structure
> 
> Fully Diluted      182,210,934m shares ( including board options as at 29 april 2009)
> 
> ...



SP may not necessarily fall due to the raising. Some people may book a stag profit, but some may see it as a positive sign (raising cash) and just stick with the company. Much may depend on market sentiment on the day too.


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## panikhide (15 June 2009)

kennas said:


> Outstanding breakout here.
> 
> Looks way undervalued now compared to peers (EXT), but I am concerned that EXT has run too too hard and might be overvalued at this stage of the game.
> 
> ...





I am keen to get back into BMN. I unfortunately didn't take advantage of the multi bagger gains on offer as it swept up from 20 cents. What I am looking for is significant lines of support/resistance to base a entry on to go long. Let's face it. BMN has been a volatile stock (like everything else I guess).

Looking at Kennas's chart, I can't really see any at or around $1.25. I see possible support/resistance at $1 and maybe $1.10-$1.12. I'm curious. What do others think?


----------



## Moneybags (15 June 2009)

panikhide said:


> I am keen to get back into BMN. I unfortunately didn't take advantage of the multi bagger gains on offer as it swept up from 20 cents. What I am looking for is significant lines of support/resistance to base a entry on to go long. Let's face it. BMN has been a volatile stock (like everything else I guess).
> 
> Looking at Kennas's chart, I can't really see any at or around $1.25. I see possible support/resistance at $1 and maybe $1.10-$1.12. I'm curious. What do others think?




Panikhide,

I have been watching BMN very closely for ages now and do hold a parcel.

Seems to have dropped down to fill the gap @ 1.22 today and we will have to wait & see if it continues to slide pre SPP. I would suggest there is strong support at 1.00 and bounced off 1.04 consistently for a while there too. Not so sure about 1.10 being that strong but Kennas is pretty good at this stuff........lets see what he says.

Good luck

MB


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## Sean K (15 June 2009)

Theory is that old resistance becomes support, and the bottom of the gap should be support as well. Add that to the uptrend line, and that juncture should be the first decent level of support here, _around_ $1.20 ish. There is around those other points mentioned, and the spp should be a strong psychological area of support too. It's all just probabilities of course. I thought $1.30 was a nice short term support level and it was forming up another pole and pennant, but that was pretty quickly dashed. Overall markets toppy in the short term all over the globe. They've run a bit hard. Been saying that for weeks though, lol.


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## Absolutely (16 June 2009)

The way it's going, think we will soon be able to buy additional shares on market for $1 (or less). I'm holding off on taking up the offer.


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## shag (16 June 2009)

it held solid at a buk last time so if it actually went below a buk i wouldnt be buying. not that i think it will get near the area. the volumes flowed too from memory. hopefully this is just pre spp nerves and smallies having to catch a bit a cash for such.


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## Moneybags (16 June 2009)

Holding off here too now Absolutely........todays action was a bit of a worry......happy to wait it out for a bit longer as SPP is looking less attractive every day.

MB


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## Ruincity (16 June 2009)

I have taken advantage of the SP offer and put in a bid for some shares (which don't forget not even guaranteed to receive). 
I figure in lieu of price action both before and after the offer that $1 is a decent line in the sand that I am comfortable to own BMN shares. 

I am bullish on Uranium and BMN in the long term so will be happy to hold from here. 

Far too often I find that waiting for shares to reach my price "as they will be cheaper tomorrow" doesn't happen and I end up chasing prices headed north.

Selling pressure to remain on the Stock until mid July with both Insto and Retail investors with $1 shares but realistically with BMN volume around 1million shares a day 37.5million worth of shares can be turned over very rapidly.  No doubt insto investors have been banking up to 40% profit since receipt of their holding on the 9th.

Don't forget the PFS completion this month and release "early next quarter" as well.


----------



## JnrTrader (24 June 2009)

now falling below $1, interesting to hear some thoughts on this stock now, has the SPP been completed? if so, this might explain the recent fall from 1.50
Not sure where this may end up, if the markets do correct, in the vicinity of 3300 for XAO which has been a figure thrown around then this could fall back to around 60c, this would be devestating to the investors who took up the SPP at $1 when the stock was around 1.35 at the time.


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## mu5hu (24 June 2009)

On a good note (i think) in todays announcement they said that $15.5M was received for the SPP and they only needed 7.5M..so everyone is getting some money back.

but guess it shows there was a lot of interest in the SPP

just have to see how the share price holds up and which way it will trend


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## Moneybags (24 June 2009)

Thankfully I didn't take up SPP offer after all........there must be a few bewildered investors out there that sent off a cheque nice & early when SP was around 1.40.

Watching with interest and will wait until Bot trades have ceased before topping up again. Obviously keeping an eye on USA as well 

Good luck to holders.

MB


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## rustyheela (26 June 2009)

Anyone Know  what the SPP scale back is or heard anything. there is a market statement out and on their website but only really says parcels applied for over $7500.00 will be scaled back proportionately. why would they not disclose the allocation figures?


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## shag (26 June 2009)

probably cause they r useless. 
i eat my words re it not going under a buk too.
its time they ramped something or sell something to push up the sp. maybe sell a director or too to someone with a pig farm.


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## munga (30 June 2009)

```
Anyone Know what the SPP scale back is or heard anything. there is a market statement out and on their website but only really says parcels applied for over $7500.00 will be scaled back proportionately. why would they not disclose the allocation figures?
```
asked for 15000 got 6940


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## shag (4 July 2009)

anyone here sick of this mother going sideways? its better than down but u'd have to do a cabcharge job to go down in this market.
surely some of u punters have 'news' that resembles a ramp or vice versa....
re the spp, i should have put a few stock in my margin loan account as this ploy worked with mak.


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## Sean K (4 July 2009)

shag, I lost complete interest when EXT started pulling up quadruple grade alaskyte hits. Quite incredible really. Maybe BMN will find the same stuff through exploration, but the market caps speak right now.

(At the moment, I think one is overvalued and one undervalued)


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## shag (4 July 2009)

yes i was thinking a while back if there was one super uranium plot, there must be more and bmn's got more anomalies to pursue. id park my dosh elsewhere or trade it if wasnt for other reasons. i have some faith tho.
im thinking now these spp's r out of the way and ore prices set, maybe we can have another leg up in aus and asia.


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## mu5hu (5 July 2009)

shag said:


> anyone here sick of this mother going sideways? its better than down but u'd have to do a cabcharge job to go down in this market.
> surely some of u punters have 'news' that resembles a ramp or vice versa....
> re the spp, i should have put a few stock in my margin loan account as this ploy worked with mak.




LOL yes....just patiently waiting.. haha
can be frustrating but hey thats shares for u

any comments on its chart?


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## shag (12 July 2009)

fat profits had a slight ramp this week. mainly said was open at depth and between the two anomalies.
didnt comment on the new major shareholder supprisingly.
it may get some steam up when the next resource update comes out before the end of july, or when the spp goes away fully.
the fundamentals have only become better since the last run it had.
200 million market cap vrs 1.2 billion for its neighbour.


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## Sean K (20 July 2009)

Resource upgrade:

Perth, Australia - July 20, 2009 – Australian-based uranium mine development and exploration company, Bannerman Resources Limited (ASX: BMN, TSX: BAN, NSX: BMN) (“Bannerman”), continues to advance development of its Etango Uranium Project in Namibia, southern Africa, today announcing an updated mineral resource estimate.

Highlights include:
● 21% increase in Measured & Indicated Resources from 89.2Mlbs to 107.7Mlbs U3O8 at an average grade of 208ppm U3O8.
● 40% increase in Inferred Resources from 37.4Mlbs to 52.4Mlbs U3O8 at an average grade of 197ppm U3O8.
● 67% of the total resource estimate is in the Measured & Indicated categories.
● Two thirds of the total resource estimate is located within 200 metres of surface.
● Increased mineral resource for the Oshiveli deposit comprising Indicated Resources of 12.4Mlbs U3O8 and Inferred Resources of 8.3Mlbs U3O8. Inaugural mineral resource for the Onkelo deposit comprising Inferred Resources of 20.2Mlbs U3O8.
● Resource extension drilling continues at the Oshiveli and Onkelo deposits.


Good tonnage, but the grade is less than half EXT. Probably doesn't account for the disparity in market caps. I personally think EXT is overcooked, and this is underdone. Hard to tell where present value should be.


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## shag (20 July 2009)

i like the idea that this prospective mine is shallow, clearly defined, open at depth, plus they have finally pulled some better grades.

its close to putting up the mine open signs too, rio just needs to drive a truck or two over, put a few sheds up, lay some cable and water and employ some local yocals or move some of their personel over. they need at least one mine to replace their grand old giant next to bmn.

also in the mix is it seems its other neighbour is close to being locked up, and taken off of the market. maybe then bmn can become top dog again in this part of nanimbia, esp. with major uranium scapler, steve datells interest in this one too. and each time he scalps one, he gets greedier, along with more backing.

(if its not obvious i'm holding this mother, then get some glasses)


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## shag (24 July 2009)

another good day for bannerman, up 10pc. its next major stop is 2.10 on the charts to me, and its showing a nice uptrend in the last six months.
this is worth a read, shows how to place a minimum value on it.

http://imagesignal.comsec.com.au/asxdata/20090722/pdf/00970579.pdf

i think people are finally realising that having a nearly completed mine design, ready to go or be sold, is a real bonus to a company. 
at 160million pounds plus of product, at nearly double the grade, that areva bought recently, shows how desirable this *single *deposit is.

then they can move onto the many other anomallies it has, and it seems there is a lot of uranium all over this part of namibia.


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## Sean K (27 July 2009)

BMN extending the PFS due to some recent 'favorable' outcomes including increased resource.

Or, maybe becuase POU has tanked.

Wasn't a BFS supposed to be done by now?

Ah, yes:

ASX/ MEDIA RELEASE
21st May 2008
BANNERMAN RESOURCES COMMISSIONS GRD MINPROC FOR BANKABLE FEASIBILITY STUDY

Bannerman Resources Ltd (ASX: BMN, TSX: BAN, NSX: BMN) ("Bannerman" or the "Company"), an Australian-based uranium mine development company, is pleased to announce that a contract has been awarded to the engineering construction company GRD Minproc, a subsidiary of GRD Limited (ASX:GRD), to produce a Bankable Feasibility Study (BFS) for the development of a uranium mine at the Goanikontes’ Anomaly A project in Namibia

GRD Minproc is an international engineering contractor with offices on three continents and has successfully completed over 200 projects and 300 feasibility studies in over 30 countries. Its recent uranium experience includes the EPCM contract for the Langer Heinrich uranium mine in Namibia, the feasibility study for the Kayelekera uranium project in Malawi and the feasibility study on the akouma uranium project in the Central African Republic, together with several other feasibility studies on uranium projects in Africa and Australia.

*Work on the BFS will commence immediately and is expected to continue through to the first quarter of 2009.* The work will include management and design of the proposed mine, process plant and infrastructure and will provide the basis to progress Anomaly A from a resource to a producing mine.


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## munga (29 July 2009)

much better grades and nearer to the surface from etango but im with you kennas, stalling big time. wonder if they are waiting for a close fellow company to have a offer for them. with ext shining hard to see much hope for the near future.


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## Tukker (1 September 2009)

Major report out today, 121 pages of technical "make my head spin" information, popped up 6% to 1.21. better than expected results seems to be the reason for it. 

Lets see how it likes the ceilings


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## insider (4 September 2009)

Feeling this is gonna run. It cant keep trading in this tiny space for much longer. Seems to be accumulation happening. Maybe next week we may see some movement. Potential to climb to 1.50 and probably will hit the ceiling.


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## insider (7 September 2009)

Here is another chart. Bought another 11000 shares at 1.25 today. This takes my purchase average to $1.185. fingers crossed things work out... This money will take me to Rio in style


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## Tukker (8 September 2009)

Im with you, i picked up a few at 1.14, the chart looks right to me, i might try to buy some more on the open tomorrow.  I like the way the chart looks, plus its down overall 200+% from its highs in december 2007 of $4. I think the ceilings to watch are 1.30 and 1.35. lest see how she goes.


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## insider (9 September 2009)

Broke through nicely!!!  Traded at a high of $1.430... Currently at $1.390. 105 buyers for 1,152,504 units  and 32 sellers for 214,591 units . Looks like we will be hitting the $1.50 sooner rather than later ::::))))


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## Hedders (9 September 2009)

insider said:


> Here is another chart. Bought another 11000 shares at 1.25 today. This takes my purchase average to $1.185. fingers crossed things work out... This money will take me to Rio in style




Well spotted Insider and Tukker- up at $1.39 at the moment. Rio's looking good! There's been no announcements as yet- is it just the renewed interest in commodities?


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## DAZT49 (9 September 2009)

why has this price action taken place today?
12% jump on no news, strange.
Anybody got any clues?
Hope it keeps going tho.lol


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## Tukker (9 September 2009)

Hedders said:


> Well spotted Insider and Tukker- up at $1.39 at the moment. Rio's looking good! There's been no announcements as yet- is it just the renewed interest in commodities?




Ty Ty, Insider spotted it first. This stock was triggered with a system i am using. I dont' think there is anything other than technicals working atm.

yeay for us.

On a down note i think retail data for August comes out at 11:00. I highly doubt it will be any good might push it down a bit. Heard from a grocery store owner that his sales were really bad.


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## UPKA (9 September 2009)

renewed interest in the uranium sector, with the chinese buying up Uranium explorers here... plus the chinese is trying to make Africa their resources hub, chances r they will make acquisitions on miners in Africa...


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## insider (9 September 2009)

Hedders said:


> Well spotted Insider and Tukker- up at $1.39 at the moment. Rio's looking good! There's been no announcements as yet- is it just the renewed interest in commodities?




Haha... Rio certainly is looking good now  Surprised how little BMN is being talked about here on Aussie Stock Forums. I feel like $1.50 will give us some grief but hopefully it will reach the top of the trend channel which is about $1.80 Time will tell. Massive volume today. I think it is moving purely on technicals. According to this website http://thepatternsite.com/at.html it states 







> "Patterns with a long-term rise (over 6 months) leading to the triangle show price rising an average of 37% after an upward breakout. Those with a short-term decline (less than 3 months) leading to the triangle show a 41% average rise after an upward  breakout."




That would equate to about $1.75 potentially


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## eddyeagle (9 September 2009)

Great break from the triangle that had formed. It was only a matter of time until it was due for a run and the China buying Uranium story did the trick. Hopefully can push through $1.50 and keep going!


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## insider (9 September 2009)

eddyeagle said:


> Great break from the triangle that had formed. It was only a matter of time until it was due for a run and the China buying Uranium story did the trick. Hopefully can push through $1.50 and keep going!




It shouldn't have any problems pushing through the $1.50 ceiling because of the 2 and a 1/2 month consolidating period we just came out of. There should be enough pressure built up.


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## Sean K (10 September 2009)

Other than the general market remaining strong pushing everything up, it might get some support from the PDN capital raising which will be used for LH expansion, and for M&A. They could buy another junior in Australia, but they may go for something relatively well advanced that can actually be mined. Like a BMN.


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## Sean K (18 September 2009)

Shaping up to have a massive resource, but the grades are still poor compared with EXT and that seems clear by the relative market caps, and deservedly so. 

Still must question whether this will mine or not. So dependant on the POU. I seem to recall an earlier scoping study being done on $75 lb POU. Earlier posters in this thread in the midst of the uranium frenzy were calling much higher long term prices. Looking foolish now. No wonder BMN keep putting back PFSs and BFSs, and creating more FSs. It's not the additional material, it's the Capex and Opex related to POU that's the problem. 

Interesting technical point though. Nosing up against a massive wall between 1.25-1.50 and ascending triangle. Could be a nice breakthrough if ever...


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## shag (18 September 2009)

yes i suspected a breakup after its change in habit over the past  few weeks.
if they dont mine this one, many others will sit unmined and paladin will likely shut down some of its mines
its shallow, a relatively efficient shape to dig up, and seems relatively cheap to extract the yellowcake from the rock imo.
plus its only the first anomally to be drilled, and its finally finding some top grades, which indicate to me its got good potential to find a monster, at grt grades.
an insitu desal plant, plus acid plant will make all the mines there more profitable.

the pou drop was partly due to speculators dumping product, conservation of capital etc. the rush will be on to tie up long term u supplies again to me. in countries that will allow this.
after the massive spike last time in metals, the end users won't want to be back in that position again, ever, esp in u.


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## insider (28 September 2009)

Todays action was very interesting... Over 2MILLION SHARES TRADED. Shares were sold down and then recovered quickly in the last 1/2 hour of the day. Pure shaking the tree. Great Hammer formation today...


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## munga (17 November 2009)

10 percent jump in share price and 2.4 m shares traded

refer to response from bannerman re enquiry from asx

View attachment 31m2rd4stphvgv.pdf


does anybody have a copy of the diggers and
drilling extract referred to


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## nazzysmith (23 November 2009)

BMN

Another speeding ticket.....

Whats going on here.



Nazzy


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## damorgs (11 December 2009)

Mmmm i bought these back a few months ago... Not sure exactly what is going on.. they are a bit all over the place. Anyone have a take on it?


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## Pivotonian (14 December 2009)

Can someone with a better knowledge of these things please explain to me what was so bad about the BMN announcement this morning?

The SP dropped 10% very quickly on the news ...


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## Sean K (14 December 2009)

Pivotonian said:


> Can someone with a better knowledge of these things please explain to me what was so bad about the BMN announcement this morning?
> 
> The SP dropped 10% very quickly on the news ...



BMN drops on any news. It's a recurring event. It's because it has been overly ramped by idiot taxi drivers who think this company is the next BHP. Any time they present a report that does not mean they have the next OD or are being taken over by an international U major they get smashed. Add to that their initial management were crooks and were sacked for being dickheads, and you get the point. 

Absolutely world class asset, and they are still drilling .... wonder why?


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## WRONG'UN (14 December 2009)

They are betting on a long term uranium price of $70/lb, v the current $45, and an average life of mine cost of $41. Sounds marginal in the current climate - will, or when will, the uranium price return to a viable level?


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## Pivotonian (14 December 2009)

Yeah, thanks guys, I eventually picked up the opex issue.

Man, this thing is tanking faster than Carlton in pursuit of a priority pick.  Its down to $0.86 as at 3.15pm - almost 30% down on the day - with half that drop coming in the past half hour ...


----------



## qeegbill (14 December 2009)

WRONG'UN said:


> They are betting on a long term uranium price of $70/lb, v the current $45, and an average life of mine cost of $41. Sounds marginal in the current climate - will, or when will, the uranium price return to a viable level?




I think that the contract price for U3O8 is usually much higher than the spot price.  Probably $70/lb is a reasonable long term contract figure - although maybe the increased demand which have been hearing about for years will actually happen.

I seem to recall an earlier BMN study which suggested costs would be $28 per lb - so there has been a significant increase in cost estimates.  Note that Trepkoppe is viable at much lower grades.

Still as Kennas says there is a lot of potential exploration upside.  What happened to Swakop River and Botswana??


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## eddyeagle (14 December 2009)

Down 27% - ouch! Very frustrating! Probably related to the fact that one of the newsletters that covers this stock put out a stop loss sell on this one today, so that probably added to the fall!


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## Pivotonian (15 December 2009)

eddyeagle said:


> Down 27% - ouch! Very frustrating! Probably related to the fact that one of the newsletters that covers this stock put out a stop loss sell on this one today, so that probably added to the fall!




That didn't have any impact.

The stop loss was at $0.85, so the SP had already fallen more than 25% before it even hit it.

Also, they didn't notify readers that it had been triggered until after the market closed, so unless readers had automatically set their stop loss orders, if this is to have any impact it will be more selling pressure this morning.


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## Go Nuke (15 December 2009)

I tried for a bounce trade today, but closing so close to the low really put me off.
It was good to see about 300K of shares snapped up at the close though.

Hope the directors are buying at these levels


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## eddyeagle (17 December 2009)

So does anyone believe Bannerman is worth holding onto? I guess it comes down your thoughts of where the price of Uranium is going! I have been told to sell BMN by two different reports I subscribe to this week


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## Sean K (18 December 2009)

eddyeagle said:


> So does anyone believe Bannerman is worth holding onto? I guess it comes down your thoughts of where the price of Uranium is going! I have been told to sell BMN by two different reports I subscribe to this week



Yes, does depend a great deal on the price of uranium! And it's a little opaque really. The rise to $140 was obviously bubblish, but where really is long term price? The problem with uranium, like minerals such as phosphate, is that it is found in abundance in many places. It is not a rare element. Once there is sufficient demand, supply is there, it just takes a little time to get the logistics organised. The recent bubble is probably bad for longer term prices because a whole bunch of new explorers started searching for the stuff, and found it!! Everywhere!! EXT is a classic example. They are probably sitting on the worlds greatest supply that could feed the world for years. At the same time they get mining (if ever) Olympic Dam will be ramping up and Cigar Lake might be coming on line. Then Kazahkstan has so much uranium untapped it's scary. I think long term prices might be lower than expected. I'm out of all stocks though and not following things that closely really, so best to get a real opinion...


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## DonAqua (18 December 2009)

Someone grabs shares ...

See last Change of Directors Interest Notice:

154,000 shares have been acquired by Alexandra M Jubber and the Jubber Superannuation Fund

So maybe you should hold onto BMN. I guess they wouldn't buy if the prospects are not good.

Cheers


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## zzaaxxss3401 (18 December 2009)

eddyeagle said:


> So does anyone believe Bannerman is worth holding onto? I guess it comes down your thoughts of where the price of Uranium is going! I have been told to sell BMN by two different reports I subscribe to this week



One of the biggest consumers is China (surprise surprise) and they are certainly conscious about trying to do their bit for the environment. One estimate is that they need 150 nuclear reactors to power their country: http://www.mineweb.com/mineweb/view/mineweb/en/page72103?oid=94349&sn=Detail
Another interesting read (including the comments posted): http://seekingalpha.com/article/178073-china-s-nuclear-power-shows-massive-investment-potential

Is there enough uranium available for the demand? Perhaps. Perhaps not.


----------



## Go Nuke (18 December 2009)

I hold but thats becasue Im a long term uranium bull...oh and that Im sitting on about a 60% loss with BMN right now.

Like the GFC, I'll ride it out.

Bannerman WILL develop a mine and I think its almost a certainty that it will either now get taken over, or a serious company will be taking a stake in Bannerman!

68.5c seems to be the magic number right now.
Lots of 50K orders going through so people are still dumping...but someone is buying them all too.

Not a good xmas present from the share market


----------



## Go Nuke (18 December 2009)

Bullish piercing candle today with good volume.

RSI has also made a higher high with the sp making a lower low = divergence.

Its not the end of the day yet though.

85c to be the next hurdle imo.


----------



## Go Nuke (18 December 2009)

Sorry correction.

Just noticed the chart says "Bulling Engulfing" Thats incorrect. Unless it closes above yesterdays open of 68.5.

Either way they are both rather bullish.


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## Go Nuke (18 December 2009)

Here come the big sellers.

Lets hope there are some big buyers waiting.

I find the selling of big amounts of shares like a game between 2 or more people.

Some dumps 100K on the sell side. Someone at a computer somewhere else goes.." Oh ok so you have 100K to get rid of. Well im not going to pay that. I'm going to wait for you to lower your sell price"..UNLESS some else is keen to buy and comes in over the top all the time.

Some think, nup its time to get out...someelse things...awesome craploads of shares and really cheap.

For the record, I reckon Dattals has dumped all this shares in BMN.
I have nothing to back that up though. Just a feeling that he has bailed after seeing the PFS.


----------



## Go Nuke (18 December 2009)

BANG  there ya go.

150K gone. Picked it like a dirty nose! :>

Seriously this is oversold. Bannerman are worht more than this for a company this advanced.

DYOR


----------



## wanlad1 (21 December 2009)

Posted here earlier today but seems I got nuked by the moderator, I had every intention of coming back to say why I felt we were in an oversold area however needed end of day chart to show.  Anyway doesnt matter I guess, through the chart you will see why I feel this is about to turn.  

This is a trade not an investment type opinion, eg I entered in at .71 in mornings trade, I have a stop loss in place and due to current direction of this stock would use it with out a second thought.  Target needs to be set not too high as the selling could come back in quite easily.  This is not advice and should not be treated as such.  I have  brought as IMO is oversold and right on the 62% retracement, (high probablility for support area).  

My view 
- On support 62% retracement
- Over reaction (sell down)
- Have a plan in place
- Stop loss and target set not too high leave some on the table for the next person
- Time: if doesnt rally soon I will exit as the market may punish the stock further for not moving


----------



## leng (5 January 2010)

I may as well express my opinion here as well seeing as though I got suspended on HC. The opinion is that BMN is oversold, I don't think so. Their management were sent scurrying trying to explain their PFS stuff up and hence the exit in huge proportions. Mark my words ladies and gents this stock will languish in the low to mid 70's for a while yet.

I am just waiting around to see if there is a bounce soon and maybe recover some of the loss that we incurred. It just goes to show, never fall in love with a stock no matter what. I used to read all the stuff on HC and there are posters over there who put across a really good story, I hope they get burnt as well.

I'm still bitter but improving by the day with other quality stocks!


----------



## Go Nuke (7 January 2010)

Seems to have broken above 80c leng so i guess you should be happy that you were wrong? 

It was always oversold imo.

Once contracts are signed it will shore up an income stream for Bannerman. India or China I think will be happy to secure a future uranium supply for their up and comming reactors. Don't see why they would look past BMN really....there aren't many companies as close to production as Bannerman are.

I'm a bit disappointed with myself as I sold out of some BMN that I bought at 72c recently as I thought I was over exposed as it was, so bought some BRM instead.
BRM is doing ok right now, so guess I shouldn't be too hard on myself.

Now only holding a 49% loss on BMN...which isn't as bad as some of my other stocks 
Live and learn.


----------



## leng (7 January 2010)

Hi GoNuke,

Yes, guess I was wrong and you can't get it right all the time. My wife lost heavily on BMN but the company shares made some but not enough to carry  her loss.

I suppose I had just had enough of it and decided to sell out and move on. I bought 1m shares in PZC at 4 cents so have started to pick up again. I'm still a bit P****d off but no use carrying on about it, best to try and pick the time to do a day trade which was today and you guessed it I wasn't around to do it.

You really picked a good one with BRM, I think they will go well over $3. My friend told me about those when they were $2 and also AQR. Now that I'm cashed up it's time to look at a few quick trades but holding PZC and NKP atm.

Good luck with it all mate and great to be away from the HC.

Cheers
Leng


----------



## wanlad1 (14 January 2010)

*The inside traders stock pick of the week*

*OUR FIRST PICK FOR 2010*

Hi Everyone,

Firstly welcome back to our service. 2010 is shaping up to be a very good year. Analysts, economists and politicians all seem very upbeat about growth
forecasts. More importantly though, we will be working hard to improve our
services even more and deliver valuable tools and stock picks to help you take advantage of this.

Our first pick of the year is a *Uranium company*.

Energy is going to be one of our biggest concerns in the world going into
the future. Uranium, although it is unloved in Australia, is a growing form of energy with many reactors being built, or planned to be built in the coming decades. Bannerman plans to help fill the future Uranium demand/supply
gap with large resources in Namibia. For those of you betting on the Uranium
industry, *Bannerman is definitely worth a look*.

Buyer demand and smart money have been entering and a *Director just bought $113K worth of shares* just after a recent price fall.


----------



## Miner (15 January 2010)

wanlad1 said:


> *The inside traders stock pick of the week*
> 
> *OUR FIRST PICK FOR 2010*
> 
> ...




wanlad

Thanks for posting
I am surprised you were not told by the Administrator to have breached the copyright act.  Funny I was told for much lesser volume posting 

Any way that is not the point. I also saw Insider Trader's recommendation or tip. But BMN price was hardly affected since they said to buy it.

If you have carefully read the feasibility report, few missing items are there :

Cost of Owner - a significant item was omitted
OPEX - was missing
Mine Development Cost - not shown
Mine Closure Cost - not sure if it applies in Africa.

The total feasibility cost is too good to be true as it has not shown any factor for inflation and likes. 
Uranium price is a high risk factor

But hey, if the feasibility is within 25% and it delivers who cares ? I am holding.


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## Sean K (15 January 2010)

BMN have suffered at the hands of previous management, rampant rampers, and the POU. The litigation debarcle would have put them off the map for many professional investors. Their time frame for delivery of Resources, PFS's and the like have continued and continued to be delayed. Most troubling of all for them is that there is a deposit about 3 x times size with 3 times the grades just sitting next door. Many many institutions would have diverted attention from BMN to EXT long ago and thus EXTs meteoric rise. For Capex, are the banks going to send their cash to EXT, or a BMN? The old rampers claiming the TSX listing would expose them to the 'smart' Canadian investors and the price would rocket were right on the ball, as usual. 

In regard to oncoming nuclear power plants and the drastic need for more supply, I have my doubts on 2 fronts. 1. Will all these reactors really be built? And 2. How many uranium mines are supposed to come on line over the next few years to provide the supply? There is so much uranium laying about in the world that I think supply could very quickly keep pace with demand and long term prices may be held way back. The markets projection of $75 or whatever may be wrong. What if it's dropped back down to low $50s. Low grade, relatively high Opex developers/producers like BMN may never get off the ground.

Feel free to pick holes in my off the cuff thoughts.

Maybe the supply/demand equation thing does run massively in favour of higher prices and they keep rising to $100 ish. And what if all these proposed reactors do eventually come on line? That would be a significant boost to the prospect on BMN. It seems like taking a bet on a number of factors. 

Good luck to those going to long term positive for U mining.


----------



## leng (21 January 2010)

What can I say other than to agree with ALL the comments you have made. There sure is a lot of if's and but's about BMN. My main concern would be 1. management and 2. the ability to raise cash and commence mining.

The management still leave a lot to be desired and you only have to look at the quality of the PFS to see that. Enough said! Then the cash needed to start production - GOOD LUCK because they will need every bit of it.

My prediction is that you will see them drift back to the low 50's again. Sorry Gonuke but YES I am happy because they cost me so much. I'm just lucky that I got out and ventured into quality stocks.


----------



## leng (7 February 2010)

For those who take time to read BMN thread, told you so. Thankfully I don't hold now and can easily see this dog heading back to the 50's again. Amazing, but over on HC the famous Tibbs has vanished. My guess is that the rats have deserted the sinking ship


----------



## Sean K (7 February 2010)

leng said:


> For those who take time to read BMN thread, told you so. Thankfully I don't hold now and can easily see this dog heading back to the 50's again. Amazing, but over on HC the famous Tibbs has vanished. My guess is that the rats have deserted the sinking ship



Yeah, noticed that a while ago leng. He'll be back when it goes back above $1.00 saying that he doubled up at the bottom. Again..lol I think Chris has bitten the dust too hasn't he. Only the Capt remains with the sinking ship.

I think there's a few holders still around here and I wish them the best. I standby what I said above but at the same time, on the build up (and before some of the disasters this company has endured), I thought that these guys would eventually have a mine, pending POU. IF POU does recover to above $75 long term, they they still might.


----------



## leng (12 February 2010)

If U price recovers to above $75 then some might develop a mine, but this lot?
The management of BMN continually flounder and if U hit $100 they would still have issues. I'm still bitter with the loss incurred but am slowly recovering with good stocks like ROL.


----------



## Sean K (17 February 2010)

BMN really been smashed the past few weeks, since the general market fell over really. How much we can assign the fall to BMN issues and general market sentiment is up to question.

Update on DFS out yesterday and it seems holers have to wait longer again for this study to be completed. This feasability process has been going on for so long I have completely lost track. 

From this update:

Recovery rates less than expected.
Targetting more costs savings in the mining method.

I can't find too many positives out of the announcement. Can anyone else?

Maybe the lastest round of drilling and updated resource estimate due in March is a positive?  Unless it's bad...


----------



## tunrida (17 February 2010)

kennas said:


> BMN really been smashed the past few weeks, since the general market fell over really. How much we can assign the fall to BMN issues and general market sentiment is up to question.
> 
> Update on DFS out yesterday and it seems holers have to wait longer again for this study to be completed. This feasability process has been going on for so long I have completely lost track.
> 
> ...




and significantly discount their ann's K as they have his worship MD:Len Jubber at the helm; a master of spin (better even than Shane W) - the same CEO who managed to run PEM to its knees despite its massive cash flow and was unceremoneously dumped after "giving away" there silver to CXC for $5/oz etc etc
so if they are putting out sad ann's, bet on the reality being much worse


----------



## Miner (17 February 2010)

tunrida said:


> and significantly discount their ann's K as they have his worship MD:Len Jubber at the helm; a master of spin (better even than Shane W) - the same CEO who managed to run PEM to its knees despite its massive cash flow and was unceremoneously dumped after "giving away" there silver to CXC for $5/oz etc etc
> so if they are putting out sad ann's, bet on the reality being much worse






kennas said:


> BMN really been smashed the past few weeks, since the general market fell over really. How much we can assign the fall to BMN issues and general market sentiment is up to question.
> 
> Update on DFS out yesterday and it seems holers have to wait longer again for this study to be completed. This feasability process has been going on for so long I have completely lost track.
> 
> ...




If I may add that BMN was strongly recommended by Keith Nielson of Insider Traders when it was hovering at 74 cents. Since then price kept on falling. So I beg the question on the strength of technical analysis using Hawk Eye and all sort of useless propaganda techniques make no sense to me (or market probably).

Having dealt with Uranium I found the feasibility report outcome and further update by BMN not making this operation cost effective or profitable. 

TOE is a classic cheapy example and they are lagging and looking for a partner. 

BHPB is yet to announce something good to see its PFS or BFS for Yeelirrie is  finished. I believe PFS could be halfway and BFS might not take place in next 6 months. 

AGS was a uranium hopeful in 2010 and far from true due to delay. These are stronger hopefuls in uranium. 

Comparatively BMN is no where excepting its PR machines. 

Do not hold any more  BMN (actually sold as soon Keith Nielson said buy ) and please do your own research. www.uraniumseek.com ; www.uranium-stocks.net are good sites


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## leng (17 February 2010)

Bannerman will be lucky to get this mine operational. First they have to find a backer with some $600 million to start and second they will have to find management that are capable of GETTING it started.

What amazes me is the likes of Funnymonk, oops Funkymonk who still absolutely love this DOG of a stock. Then on the other hand we have TIBBS who doesn't even post on HC now after telling everyone to BUY BUY BUY.

What happened to all the TOOT, TOOT,WHOOSHKA AND NOT TO METION all ABOARD THE TRAIN IS LEAVING THE STATION Only trouble was it left in reverse!!


----------



## Sean K (17 February 2010)

leng said:


> Bannerman will be lucky to get this mine operational. First they have to find a backer with some $600 million to start and second they will have to find management that are capable of GETTING it started.
> 
> What amazes me is the likes of Funnymonk, oops Funkymonk who still absolutely love this DOG of a stock. Then on the other hand we have TIBBS who doesn't even post on HC now after telling everyone to BUY BUY BUY.
> 
> What happened to all the TOOT, TOOT,WHOOSHKA AND NOT TO METION all ABOARD THE TRAIN IS LEAVING THE STATION Only trouble was it left in reverse!!



Fortunately we got over that here Leng. There has been some outstanding analysis in the BMN thread imo, I have learnt a lot about uranium exploration and mining here, thanks to those that have contributed. But as you say, the toot tooting had to go, and ASF is better for it. You probably missed most of that 3-4 years ago, luckily. Although, your objectiveness might have been helpful. 

It'd be nice to think this thread still has some legs and those positive on BMN can keep posting their analysis, up for discussion. 

While I am pretty negative regading previous and current management's handling of BMN, they do still have a huge resource which would be mineable if they can the capex and opex right, and POU has legs. Pretty simple stuff in the end. 

(I'm actually felling for the Captain. His young Thai wife must be very disappointed that her 2008 Christmas presents went into BMN with the present result  )


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## z-trader (19 February 2010)

kennas said:


> (I'm actually felling for the Captain. His young Thai wife must be very disappointed that her 2008 Christmas presents went into BMN with the present result  )




To the BMN holders who are respectful to all posters whatever their sentiment:

I feel sorry for you and I hope somehow you can recover your losses.  I know how it feels to lose big and it's no fun.  I believe Captain falls into this category so I hope he didn't put too much of his portfolio in this one stock.  The markets seem to still be strong, so with luck, the losses can be recovered on other stocks this year, if not BMN.  My tip would be to look at Gold/Oil/healthcare plays, but DYOR on which sectors are best.

To the BMN holders who abused anyone questioning the profitability of the company:

Suck.  I get great pleasure daily from seeing BMN fall further (probably down to 40 cents at least) and seeing your anguish on various forums.  It's bad enough you couldn't hear alternative views, but unforgivable that you literally abused, vilified, and chased out of "town" those who were trying to warn you of the high risk situation and the flaws in the fluff analysis from Tibbs about bots and EV that was being used to brainwash holders.

z-trader


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## Tukker (25 February 2010)

Miner said:


> If I may add that BMN was strongly recommended by Keith Nielson of Insider Traders when it was hovering at 74 cents. Since then price kept on falling. So I beg the question on the strength of technical analysis using Hawk Eye and all sort of useless propaganda techniques make no sense to me (or market probably).
> 
> Having dealt with Uranium I found the feasibility report outcome and further update by BMN not making this operation cost effective or profitable.
> 
> ...





Didn't you select BMN for your stock pick of the month Miner? Affirming your belief of contra-trading :  BMN is one of those many stocks which i can't figure out so i don't attempt to. Good Luck to the holders.


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## Miner (25 February 2010)

Tukker said:


> Didn't you select BMN for your stock pick of the month Miner? Affirming your belief of contra-trading :  BMN is one of those many stocks which i can't figure out so i don't attempt to. Good Luck to the holders.




Interesting observation and thanks for your watch.

I am not a betting man. Traditionally I have never won a lotto and when I bet it is to loose. So in cricket I always bet against  (not for) the team  whom I want to win. Like If England is playing against South Africa and I want to see England to win, then I bet South Africa as my favourite 

Yes, I did punt on BMN as I did not put my real money on BMN. You will be impressed by my tipping record however .

I do walk and talk. If you follow my posters on BMN and others - it will prove.

I have some recent experience on Uranium as well. I earn my living  by helping Clients to earn money through my write up on  feasibility studies, and delivering EPCM projects. Share market is my hobby (very expensive however like maintaining a Ferrari by a middle class person).

In all honesty, unless something changes terribly good like U2O3  and U3O8 price shoots up, BMN changes it leadership I do not see technical strength for BMN. I have already written Keith Nielson about his failed recommendation and he acknowledged the error in his judgement  through personal email . Small Capital accepted their mistake and asked people to Sell. Funnily enough now they have asked their clients to buy BMN. Purely gambling by this newsletter.

You may refer to the BMN postings by Kennas - an acclaimed knowledgable guy in resource sector, an ex moderator and in my eyes absolutely impartial (like Agentm and few others) .

I held BMN in the past. I do not hold BMN and not suggesting what you should do. It is everyone's personal business and strategy. So please DYOR.

Thanks for instigating (unintentionally rubbing ) me to defend my integrity.


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## jonojpsg (25 February 2010)

Interestingly, BMN was the subject of another newsletter tip the other day.  They did point out it was a big risk though given high projected cost of production needing higher long term POU to make it a goer.


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## rhyslivs (10 March 2010)

Maybe that tip from ASCI plus the potential for a resource upgrade by the end of the month has stemmed the carnage. It looks like its found some support around the 50c mark.


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## z-trader (10 March 2010)

rhyslivs said:


> Maybe that tip from ASCI plus the potential for a resource upgrade by the end of the month has stemmed the carnage. It looks like its found some support around the 50c mark.




There's nothing special about 50 cents, just as there wasn't anything special about 60 cents, 70 cents, 80 cents or $1.  People said it was finding support at all those levels too.

The key to BMN is the financial viability of its resource, and I haven't seen any improvement there.  More of the same uneconomical resource doesn't help.  In fact, reading between the lines of Obama's recent pledge to reduce US warheads drastically, I'd say the fundamentals have deteriorated further.  I'm expecting it to be revealed soon that the US may also start supply it's own large fleet of reactors with weaponised Uranium.  On top of Russia continuing to supply the market after the Megatonnes to Megawatts program ends in 2013, that spells no looming Uranium supply shortage for a long time.  I certainly wouldn't want to have my money invested in a company leveraged to the Uranium price right now.

z-trader


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## leng (11 March 2010)

Yes you are correct, so much uranium being released can only drive down the price and any potential mine is doomed. Who in their right mind is going to invest $500m to start a mine that first will not be in production until 2013 and second has low grades. Good luck if they find that investor and it's looking doubtful that they will find anyone for a takeover, especially when the two dopes of directors hold 20% of the shares and wont negotiate. The same two who signed off the hopeless PFS. What a bunch of no hopers and I hope they lose the lot!

Just look at the trouble this company has had, from one disaster to another, they deserve everything they get. Bunch of fools!!!


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## WRONG'UN (12 March 2010)

Quote:
"so much uranium being released can only drive down the price"

You are making an assumption that if supply increases, the price must come down - what about the demand side of the equation? What about the planned nuclear power stations in China and India?


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## leng (12 March 2010)

Exactly "PLANNED" and do you know how long it takes to build and commission a nuclear power plant? 5 - 6 years so keep your BMN shares in the bottom drawer because that's where they belong. BMN are worth SFA and will drop further simply because their sums don't add up and it doesn't take  a philadelphia lawyer to work that out!


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## Sean K (12 March 2010)

leng said:


> BMN are worth SFA and will drop further simply because their sums don't add up and it doesn't take  a philadelphia lawyer to work that out!



Original Scoping Study was done at $75 uranium price I think, once Spot went under that, and longer term prices looked vulnerable, this was a very high risk prospect. With the world continuing to decommission nukes, and new massive mines coming on line over the next few years, (possibly Cigar Lake, OD expansion etc) would be some strokes of luck that BMN make it to production now. Haven't had much luck so far, with shoddy previous management, dubious business practices, and coping with the U bubble.


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## WRONG'UN (12 March 2010)

Leng, I don't have any BMN shares in the bottom drawer, or any other draw -the numbers don't add up to me, either. Moreover, the chart sucks.
I wasn't arguing with you, I was just noting the assumption you had made, and mentioning that there are two sides to the equation.


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## Miner (25 March 2010)

Hi BMN participants

You might have seen the correction in BMN feasibility study proposal to reduce the recover from 90 to 85 % which is more believable.

Hypothetically if the drilling result comes out to be much better than the earlier result then how the world will look into BMN ?

Just my thoughts though with so many uranium hopefuls it is big asking to see BMN to make money even in 2013 unless some thing drastically changes

Having said that Kevin Rudd has already authorised the Russians to take uranium means our own uranium policy is getting softened. So Africa in one hand and then Australia the other U supplier will make the U world interesting. 

DNH


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## leng (26 March 2010)

Hi Miner,

You are correct! BMN will more thank likely be on the skids before too much longer. This mob gives the impression that they haven't a clue. Just look at what damage they have done in the past to investor confidence, Opes, Savannah, Poorly presented PFS and to cap all this off there are 2 directors who hold 20% of the stock. With all this hanging around, they, and all the hopefuls expect a t/o. You must be kidding. Boy, am I glad I dumped the stock, all be it at a loss some time ago.


----------



## UBIQUITOUS (14 July 2010)

Something is rumbling with this previously unloved stock. Volume has picked up. A speeding ticket issued, and the price possibly breaking out.


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## Sean K (20 October 2010)

*16 Feb on the DFS:*

Metallurgical Testwork Program

Further investigations are being undertaken into the metallurgical parameters required to consistently achieve the higher flotation recoveries, prior to progressing to the larger scale pilot plant testwork.

Mining Review

Work is underway on assessing all cost reduction opportunities and initial results are expected to be available in the June 2010 quarter.

*22 Apr update:*

The mining review is progressing well and Bannerman expects to be able to reduce the mining cost estimates announced in the December 2009 Preliminary Feasibility Study.

*30 July quarterly:*

During the June 2010 quarter, Bannerman continued to advance the Definitive Feasibility Study (“DFS”) on its 80%-owned Etango Project in Namibia, reported positive results from near-Project exploration and drilling activities, and stepped up dialogues with a number of potential strategic development partners.

HIGHLIGHTS

● A mining review based on the updated resource model is progressing well with an expected increase in estimated mineable resources and decrease in estimated mining unit costs.

● A DFS update encompassing the above work is scheduled for release to the market in the December quarter.


These guys are dragging their heals a bit....

Will they ever finish the DFS?


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## laurie (21 October 2010)

I think there are trying to find a way to say what we all may fear!

laurie


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## notting (1 August 2011)

BMN Uranium start up with big off shore deposit has been Running against the market today after having bounced hard due to .615c take over bid. 
It's a Chinese bid so not to be trusted, but still, given it is still moving down presently at .42c. That's quite a premium.
It had fallen to 20.5c with the fallout from Japan after having run up to 90c. On pretty wild trading!
I've taken a little bite and will continue to nibble.
As other uranium stocks have started so show more stength having been smashed by Japan event.
Sounds like BMN board are trying to get a better offer from Chinese, yet in the absence of another bidder this highly conditional one could be it's only hope.


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## FreshTrader (10 October 2011)

SOO glad I picked some of these up on Friday at 33c.  They are currently trading at 38c!!!  15% increase over the weekend doesn't sound too bad to me.


----------



## alexc2005 (10 October 2011)

FreshTrader said:


> SOO glad I picked some of these up on Friday at 33c.  They are currently trading at 38c!!!  15% increase over the weekend doesn't sound too bad to me.




bet you are even happier now.

I'm pissed i was gunshy at 30c, Oh well, hindsight is 20/20 i guess..

I'd just be worried about the offer falling through and the price crashing.

I think i'd be cashing out nowish, but then again, easy for me to say that.


----------



## SilverRanger (10 October 2011)

I'm surprise not to see a speeding ticket today, maybe it will come tomorrow so that we can to hear some update regarding the deal


----------



## FreshTrader (10 October 2011)

alexc2005 said:


> bet you are even happier now.
> 
> I'm pissed i was gunshy at 30c, Oh well, hindsight is 20/20 i guess..
> 
> ...




Unfortunately did, but far too early obviously.  Jumped out at 37c before watching it ramp up to 42c!!!   Interesting to see what happens over the next few days with BMN.  If they drop back down to around 33c over the next few days (highly doubt it) I will definitely buy more.


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## Chasero (4 November 2011)

BMN not interesting any traders out there?



Looks pretty tempting, what do others think?


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## Chasero (4 November 2011)

Chasero said:


> BMN not interesting any traders out there?
> 
> 
> 
> Looks pretty tempting, what do others think?




Oops, do not know how to edit!

I mean it is approaching resistance @ 24c.

Strong bounce off these levels might be a short term buy?


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## FreshTrader (16 November 2011)

Chasero said:


> Oops, do not know how to edit!
> 
> I mean it is approaching resistance @ 24c.
> 
> Strong bounce off these levels might be a short term buy?




Looks like you were very right sir, rose 12% yesterday, currently up 10% more today. Hope you were courageous enough to buy loads! ;D


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## vas77d (8 February 2012)

can somebody with knowledge update me with this stock please.


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## skyQuake (8 February 2012)

vas77d said:


> can somebody with knowledge update me with this stock please.




Management feels dodgy.

They reject a 61.5c t/o offer because its too conditional only to raise capital at 22.5c

Go figure.

Also cap raising shares alloted around this week. So lots of pressure at 22.5c


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## FreshTrader (9 May 2012)

17.5c.... What is going on?!?!


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## FreshTrader (21 August 2012)

What has prompted these big percentage gains in the last couple of days? Someone please enlighten me.


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## SilverRanger (21 August 2012)

FreshTrader said:


> What has prompted these big percentage gains in the last couple of days? Someone please enlighten me.




I'm not aware of anything either (not that I'm supposed to ), but certainly it's not industry specific...

I wouldn't be surprised if nothing pops up (as we have seen in the past -> http://www.asx.com.au/asxpdf/20120530/pdf/426k8vmljywy5r.pdf)


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## FreshTrader (19 November 2012)

Again, where did the 11% come from today?


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## Country Lad (19 November 2012)

FreshTrader said:


> Again, where did the 11% come from today?




The few sellers are standing firm and dictating at the moment, but I wouldn't put too much store in it unless there is a follow-up with a bit of volume.  11% it may be, but it is only 0.8 of a cent on a piddly $13,000 odd turnover bringing the price back to where it was last Thurs.

Cheers
Country Lad


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## sstyle (23 January 2013)

anyone still following BMN?


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## notting (23 January 2013)

It's about now that the Chinese would come back to try to take it.
Interesting that there has been a bit of interest in it as with other uranium stocks recently.


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## followme (7 February 2013)

seems to be hanging onto recent gains better than most


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## piggybank (6 March 2014)

followme said:


> seems to be hanging onto recent gains better than most




A month on and what you said followme is getting even truer...


​


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## myrtie100 (31 July 2018)

I'm picking BMN for this months tipping competition.
It has broken out of a cup and handle pattern, with a reasonable target.
I also like the increase in volume over the past couple of months.


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## Trav. (1 February 2020)

Feb Comp Pick

Double bottom and counter trend currently in play. 

Will it continue throughout February ? probably not but gotta give it a go for the comp.


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## bohn (13 September 2020)

Any thoughts on this stock? Anyone buying/holding?


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## frugal.rock (7 December 2020)

bohn said:


> Any thoughts on this stock? Anyone buying/holding?



Yes, bought in today on technicals and the fact it's a Uranium play, the 2nd one in my portfolio.
 (Other one is THR Thor which is gold and uranium)

Just look at the chart son.
3 month chart with today's bar forming. I note no price sensitive announcements for a month.


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## frugal.rock (7 December 2020)

Today's result on a strong close.
Dare I say, it really looks as if the fun is just getting started ?


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## frugal.rock (11 December 2020)

Broken through 30 month highs today.
Any thoughts? Anyone following?
5 year weekly.


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## frugal.rock (5 January 2021)

So,  traded this one. 
Jumped off to buy CFO and after a slight pullback rest, Bannerman has carried on, without me this time.
Chart still looking good. 
How far will it run?


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## frugal.rock (21 January 2021)

Just announced.
Bannerman Resources Limited (ASX:BMN, OTCQB:BNNLF, NSX:BMN) (Bannerman or the Company) is pleased to advise that it has been included in the Index Composition for the Global X Uranium ETF  
(NYSE:URA).

That should be good for the SP. 

Not held at the moment, my Uranium play is AGE at the moment. (Alligator Energy )
It has been quite snappy of late, but having a little snooze and digesting today...


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## frugal.rock (3 March 2021)

While I am patiently waiting it out with Alligator Energy ( AGE ) , I note Bannerman did well today off the back of .... nothing?

From recent announcements, I see Tribeca has become a substantial holder.

You may have seen Jun Bei Lou on ABC's show "The Business"?
She is from Tribeca.
Announcement signed by a Ken Liu. A partner perhaps? Father?
Dunno.

Either way, definitely a vote of confidence. Not sure if Tribeca are more of a buy & hold mob, or whether they actively trade ?

A few uranium stocks up today, but this is the standout mover today.
EG; DYL +12.7%, BOE & PDN both +10.7%

A 3 month chart. Have been expecting more movement from Uranium stocks than what we have seen, thus my AGE holding.


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## greggles (11 May 2021)

Bannerman Resources currently riding the uranium wave. The high volume move through 16c on 4 May was very bullish and BMN has continued to consolidate above that level on healthy volume since then.

It is looking like it might be getting ready for the next leg up.


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## Sean K (11 May 2021)

greggles said:


> Bannerman Resources currently riding the uranium wave. The high volume move through 16c on 4 May was very bullish and BMN has continued to consolidate above that level on healthy volume since then.
> 
> It is looking like it might be getting ready for the next leg up.




I had three figures in this back in 2007. eeeeek. Sold on the dead cat in mid 2008. fewww. I thought they'd gone bankrupt or taken to court for misleading shareholders, or something. Anywho, I haven'y followed since been in hibernation for the past 10 years. 

There's a new uranium wave? I thought the Greenies were closing nuclear off due to the Fukushima scare?


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## greggles (11 May 2021)

kennas said:


> There's a new uranium wave? I thought the Greenies were closing nuclear off due to the Fukushima scare?




Uranium is back in 2021: https://miningfeeds.com/2021/05/10/...-here-are-three-stocks-you-should-know-about/

It was inevitable that uranium would have its day in the sun again. Fossil fuels will go before nuclear energy. Renewables will increase the most IMO but the world needs more power than solar and hydro can currently produce. Nuclear will pick up as fossil fuels start to decline.


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## Sean K (11 May 2021)

greggles said:


> Uranium is back in 2021: https://miningfeeds.com/2021/05/10/...-here-are-three-stocks-you-should-know-about/
> 
> It was inevitable that uranium would have its day in the sun again. Fossil fuels will go before nuclear energy. Renewables will increase the most IMO but the world needs more power than solar and hydro can currently produce. Nuclear will pick up as fossil fuels start to decline.




The World needs to listen to guys like Michael Shellenberger. Enviromentalist pushing nuclear.


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## greggles (11 May 2021)

He makes a really good point about the fate of all the solar panels that are discarded after they no longer generate enough power and the impact they will have on the environment. Do greenies actually think about this stuff? I'm sure solar will improve in time, and it's great for countries like Australia that have smaller populations and lots of sun, but try poweing London or New York City with solar. Not going to happen.


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## Sean K (2 July 2021)

Hard to believe I had 6 figures in this back in 2007. Looks like it's changed around with some other U developers. Grades too low for this one though, I now think. That hasn't stopped punters buying recently.


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## System (29 July 2021)

On July 29th, 2021, Bannerman Resources Limited changed its name to Bannerman Energy Limited.


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## Sean K (21 October 2021)

Director Clive Jones, previous MD, just unloaded 5% ($21m) of the company. That's not just profit taking, that's a complete unload by the looks. Good sign of long term belief.  🤔


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## Sean K (21 October 2021)

Cripes, that's not all, a few of the management team jumped ship the past week or so. I'd be concerned being a BMN holder.


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## Sean K (6 December 2022)

DFS out, 10 years after the initial DFS...

It took till page 14 of the presentation to get to the basic numbers.

17%IRR. NPV $209M (current MC $271m??). Assuming $65lb LOM when then current price is $48.35. 🦃


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