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BMN - Bannerman Energy

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Wow!!:eek:

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....:confused:

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:)
 
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.
 
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

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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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.
 
BMN has had a good last few months. LOL :rolleyes:

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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kennas said:
BMN has had a good last few months. LOL :rolleyes:

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.
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agree Kennas - ominous looking chart if long - would want that neckline on the potential DT to hold or we will see - nar.
 
kennas said:
BMN has had a good last few months. LOL :rolleyes:

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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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.
 
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.
 
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.
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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.
 
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...
 
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.
 
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?
 
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
 
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.

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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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
 
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...
 
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...
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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
 
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:

• 100m x 50m pattern RC drilling completed
• 320 RC holes for 90,000m drilled
• Two Diamond core rigs continue drilling to 400m vertical
• Further exceptional drill intercepts returned;

78m @ 216 ppm, 74m @ 413 ppm, 71m @ 269 ppm, 69m @ 293 ppm, 60m @ 369 ppm U3O8

• Regional Exploration to begin as rigs to move onto the Oshiveli, Ompo, Rossingburg and Ombuga prospects
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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.

Bannerman is proceeding with a bankable feasibility study (BFS) into the potential development of the Goanikontes uranium project. The tender documents have been issued for the Bankable Feasibility Study and forwarded to selected parties in the mining industry.

Bannerman is progressing towards entering the ranks of developers and is on course to becoming a significant uranium producer by 2011, making it one of the leaders of the new generation of uranium miners.
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All still seems to be on schedule which is nice to hear. :)
 
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. :2twocents
 

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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
 
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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