BMN - Bannerman Energy

[drmb]

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]

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]

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..............

 

[DAZT49]

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]

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!

 

[Yeti]

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."

 

[DAZT49]

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]

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]

BMN up .25 cents to $3.03 on small volume of 113,690. Interesting. Any thoughts people?...............

 

[DAZT49]

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]

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.

 

[DAZT49]

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]

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.

 

[Sean K]

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

 

[kariba]

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]

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. "

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.

 

[Sean K]

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...

 

[the barry]

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...

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.

 

[Sean K]

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...

 

[shag]

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.