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BMN - Bannerman Energy

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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.
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edit 2 - taking a bigger tumble than expected... hmmm. Perhaps missed something in the report.
 
Rafa said:
toc_bat...
i hope now you realise why i said what i said...
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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.
 
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
 
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 said:
mmmmining, can you tell me where you found this on? Do you know when this was published?
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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.
 
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.
 
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
 
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
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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.
 
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.
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Kennes you really havnt read much through this thread have you?
 
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.
 
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.

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

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kennas said:
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.
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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.
 
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