BMN - Bannerman Energy

[the barry]

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.

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.

 

[Joe Blow]

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.

 

[DAZT49]

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

 

[DAZT49]

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

 

[Joe Blow]

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.

 

[Porper]

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.

 

[eMark]

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.

 

[Broadside]

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.

 

[nizar]

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]

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]

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.

 

[Sean K]

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

 

[the barry]

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]

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".

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

 

[kariba]

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

 

[the barry]

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.

 

[Go Nuke]

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.

 

[Sean K]

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.

 

[Broadside]

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.

 

[Sean K]

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.

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.