Australian (ASX) Stock Market Forum

BMN - Bannerman Energy

Saw a HUGE cross trade of 6.6Mil shares go through at $1.76 this morning!

Would that have been the ANZ perhaps??
Huge day for BMN today. I guess at the end of the day the fundies of Bannerman have not changed:)

I picked up a very small parcel looking for a short term gain
 
Saw a HUGE cross trade of 6.6Mil shares go through at $1.76 this morning!

Would that have been the ANZ perhaps??
Huge day for BMN today. I guess at the end of the day the fundies of Bannerman have not changed:)

I picked up a very small parcel looking for a short term gain
Good luck with the trade GN. I'm waiting for the dust to settle a bit, but I may have missed an opportunity. Certainly, there's no fundamental reason to sell on this event IMO. Has nothing to do with the company, except McMahon looks gooselike, and is a minor blip for the overall market. Puts a negative sentiment on it I suppose. But that's all IMO.
 
Gee If I knew more about markets I would almost say that it seemed like the sp was held at the $1.75 mark.

ALL day it just couldn't really seem to get through it meanwhile thousands of trades going through:cautious:

I mean there are about 111 buyer for 8+ Mil units vs 49 sellers for 455 units (varing of course)

If there are people waiting to buy 8Mil units in BMN does that mean they have buy orders in below what I can see on Commsec? -eg below $1.75.

I assume people have put in some big buy orders down lower incase the sp drops sharply then bounces??
 
Saw a HUGE cross trade of 6.6Mil shares go through at $1.76 this morning!

Would that have been the ANZ perhaps??
Huge day for BMN today. I guess at the end of the day the fundies of Bannerman have not changed:)

I picked up a very small parcel looking for a short term gain

Comsec showed that cross at $1.65 as a XTSPOS. Indicating as I understand a cross trade special for overseas buyer. Looks like ANZ found a willing buyer off shore at $1.65.
 
Comsec showed that cross at $1.65 as a XTSPOS. Indicating as I understand a cross trade special for overseas buyer. Looks like ANZ found a willing buyer off shore at $1.65.

Sorry my mistake $1.65.

I was at work and posting with my phone:)

I had no idea what XTSPOS meant.

Who wouldn't buy BMN at these prices if you had that kind of money:)

Could it have been Haywood? (was that the name of the company issuing shares to the Canadians?) Can they do that?
 
If there is new substantial holder we will know their identity soon enough, assuming that O/S holders are obliged to issue substantial holder notices. I wonder how long before McMahon has to fess up??
 
Ah well at least this explains where those 6.6Mil shares went.

I was right:D It was ANZ offloading them to Resource Capital funds.

I got out of that short trade today. The buyers seemed to drop off and its turning into a bit of a level playing field buyer vs sellers, so i got nervous........but hey...I actually took a profit!!:eek:

LOL (thats rare for me if someone new to ASF reads this;) )

As for Bannerman, I read in one of the previous notices that they had currently completed 80,000m of drilling out of 90,000m before moving the rigs to the other annomolies. How long would it roughly take to drill 5000m of drilling?

I think +- some time in between finishing AA, the next announcement will be the beginning of more drilling outside of AA.

Not sure if this will translate to much of an increase in the share price though. Once some results from those start to come through then definitely should see a rise in sp.
 
Seems NM and CJ can't take a trick at the moment.

Losing gazillions in BMN and now their night time raid to steal Shovelanna off RIO has failed. These boys will be feeling the pinch. Ouch.

Cazaly loses iron ore battle with Rio
April 18, 2008 - 6:15PM

Cazaly Resources has lost its three-year battle with Rio Tinto over the ownership of the Shovelanna iron ore deposit after the High Court refused an appeal.

They are the joint MDs.
 
4 inch core you would be looking at 100-150m per day (12hr shift) depending on ground conditions. Closer to 100 than 150 is more likely.

Ah thank you for that:)

So lets say around 2 months worth of drilling.

With the ann on the 25th of March saying that 85,000m of drilling had been completed out of 90,000 then they will move the drill rigs to the other annomolies sometimes towards the end of May/ beginning of June.

With the deep diamond drilling continuing at AA.

Do they use the diamond drilling instead of RC to prevent contamination the core sample? (sorry have no idea about drilling)
 
Ah thank you for that:)

So lets say around 2 months worth of drilling.

With the ann on the 25th of March saying that 85,000m of drilling had been completed out of 90,000 then they will move the drill rigs to the other annomolies sometimes towards the end of May/ beginning of June.

With the deep diamond drilling continuing at AA.

Do they use the diamond drilling instead of RC to prevent contamination the core sample? (sorry have no idea about drilling)

Final resource estimate is still due at the start of June (emailed Petter Batten and he stated it was still on track). Would also anticipate an announcement in the near future stating that the bfs has been successfully tendered and that work was underway. Drills will move to new targets when drilling at aa is complete which should be in about a month from now.
 
Seems NM and CJ can't take a trick at the moment.

Losing gazillions in BMN and now their night time raid to steal Shovelanna off RIO has failed. These boys will be feeling the pinch. Ouch.



They are the joint MDs.

And I read in this weekends Fin that CYL is another that NM was involved in that Opus managed to offload, NOTE its got to be positive that at least there are buyers for his CYL & BMN stakes whereas other sales by ANZ from the Opus mess are proving difficult due to lack of liquidity/buyers.

Also BLK is another in the NM CJ stable with rain on their parade this weekend in the form of an unfavourable outcome in a bidding process for a russian coking coal methane project.

Doesn't reflect well on BMN that NM has lost a pile, or maybe it does now that his stake is held by ?? Canadian institutions ??
 
And I read in this weekends Fin that CYL is another that NM was involved in that Opus managed to offload, NOTE its got to be positive that at least there are buyers for his CYL & BMN stakes whereas other sales by ANZ from the Opus mess are proving difficult due to lack of liquidity/buyers.

I think BMN will get back a volume of buyers now that the ANZ has sold all or nearly all of its holdings after Opus Prime went belly up (see the recent BMN company announcement to this effect). Maybe it will take a little time for the dust to settle and confidence in the stock to return. Surely if the ASX continues to not plummet BMN will come back into favour after good news is released to the market. As far as I'm concerned it's a buying opportunity.
 
Does anyone have a theory on the BMN's SP dropping today?

The depth just doesn't seem very strong.

It looked like it was sitting on support levels.

Would anyone else agree that the next support level would be at $1.30??
 
Yep between $1.25 and $1.30 based on historic support and resistance prices.......but dont talk such foolishness! Sif Bannerman will get back down to those levels (says Go Nuke with a tear welling in his eye):cry:

Hopefully an announcement soon will boost the share price.

Wish I could capitalise on that when it happens.

(ps, after they ann the BFS is someone dares make a T/O bid for BMN you can be sure Im going to reject it!:fu: ) :)
 
Yep between $1.25 and $1.30 based on historic support and resistance prices.......but dont talk such foolishness! Sif Bannerman will get back down to those levels (says Go Nuke with a tear welling in his eye):cry:

Hopefully an announcement soon will boost the share price.

Wish I could capitalise on that when it happens.

(ps, after they ann the BFS is someone dares make a T/O bid for BMN you can be sure Im going to reject it!:fu: ) :)

Yeh I agree Go Nuke, I sure won't be happy if they get taken over:mad::D
What has caused BMN to be battered so far - Anyone aware of more forced selling or is there some thing the sellers know that we don't ?

IMO BMN is pretty solid and it is practically a definite that it will be mining

Cheers!
 
IMO BMN is pretty solid and it is practically a definite that it will be mining
Nothing is 'definite'... but they do seem to have a very feasible project.

Price drop could be due to a number of things:
- continued drop in U308 spot prices
- sudden surplus of stock due to Opes Prime fiasco
- embarrassment of director's shares being lost in Opes Prime fiasco
and ongoing things like water & electricity supply in Namibia, legal action against BMN in Namibia, etc.

Of course overall sentiment not good at the moment either.

If you are a believer then it is exceptional value at these prices, but at the same time you might simply be locking in more losses...
 
If you are a believer then it is exceptional value at these prices, but at the same time you might simply be locking in more losses...

I'm going with exceptional value for the moment and topped up today. I haven't seen anything to change my mind for the long term prospects.
 
are you guys aware that uranium is on the nose lately plus;
we have the next two months where there is likely to be some "bringing to book" of this years capital losses
holders who bought BMN >$3 may start selling also so that 1.10 support level may be another buy opportunity - without some very good news
 
The bollinger bangs for the SP has taken a sharp turn inwards. I ain't an expert but whenever i've seen that, the price will sharp jump or drop in price soon after.

And in the current trend, which is down, it prob will jump down... as much as i don't want it tho.. since i have some holdings in it...

Lets hope i'm wrong...:(
 
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