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BMN - Bannerman Energy

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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
 
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
 
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
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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.....:rolleyes:

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.
 
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
 
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. :rolleyes: :)



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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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...
 
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...
Click to expand...

What margin do they charge over the base interest rate? e.g. what is their current lending interest rate?
 
jj0007 said:
What margin do they charge over the base interest rate? e.g. what is their current lending interest rate?
Click to expand...

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...
 
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
 
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
Click to expand...

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:banghead:......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)
 
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.
 
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.
 
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.
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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.
 
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.
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So, rest easy people.
 
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:confused:
 
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:confused:
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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.
 
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.
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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.
 
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:confused:
Click to expand...

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!
 
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:confused:
Click to expand...

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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