BMN - Bannerman Energy

[the barry]

PALADIN PDN up 9% today market cap 3,311 million
ENERGY ERA up 6.6% today market cap 4,082 million

BANNERMAN BMN up 7.7% today market cap 262 million

I might just wait. ie: Hold.

I am in agreeance, stock just needs to double and I will be up on all my holdings. Good times.....lol

 

[Schmuckie]

300,000 shares as a single block crossed the floor during Tuesday morning trading on the TSX. At last check (shortly before 11:00 a.m. local time), it was up to $2.00 Cdn.

 

[the barry]

300,000 shares as a single block crossed the floor during Tuesday morning trading on the TSX. At last check (shortly before 11:00 a.m. local time), it was up to $2.00 Cdn.

Due to ffs announced, read below: Looking good.

Re: News Releases - Tuesday, May 20, 2008
Bannerman Resources Commissions GRD Minproc for Full Feasibility
Study
=======================================================================

Perth, Australia -- May 20, 2008 -- Bannerman Resources Ltd (ASX: BMN,
TSX: BAN, NSX: BMN) ("Bannerman" or the "Company"), an Australian-based uranium mine development company, is pleased to announce that a contract has been awarded to the engineering construction company GRD Minproc, a subsidiary of GRD Limited (ASX:GRD), to produce a Full Feasibility Study (FFS) for the development of a uranium mine at the Goanikontes' Anomaly A project in Namibia

GRD Minproc is an international engineering contractor with offices on three continents and has successfully completed over 200 projects and 300 feasibility studies in over 30 countries. Its recent uranium experience includes the EPCM contract for the Langer Heinrich uranium mine in Namibia, the feasibility study for the Kayelekera uranium project in Malawi and the feasibility study on the Bakouma uranium project in the Central African Republic, together with several other feasibility studies on uranium projects in Africa and Australia.

Work on the FFS will commence immediately and is expected to continue through to the first quarter of 2009. The work will include management and design of the proposed mine, process plant and infrastructure and will provide the basis to progress Anomaly A from a resource to a producing mine.

The work will be managed by Minproc's Perth office in conjunction with their African office and various sub-consultants based in Australia and Africa.

"This is a very significant milestone for the Anomaly A Project and Bannerman Resources. With the appointment of GRD Minproc the scale and pace of development at Anomaly A will accelerate dramatically as we move from explorer status through to construction and major producer status. GRD Minproc has been operating in Africa for almost 20 years and has significant depth of capability in project delivery in all regions of Africa. With an impressive background in uranium mining projects and a standing as a world class engineering consultant amongst the international financial community, we believe we have brought together all the right ingredients to enable us to progress our Anomaly A Project and establish our mining operation in Namibia," says Peter Batten, Managing Director of Bannerman Resources.

GRD Chief Executive Officer Cliff Lawrenson said GRD Minproc had earned a strong reputation as a world leader in uranium engineering through its involvement in studies and projects for the most prominent uranium producers and developers in the southern hemisphere.

Qualified Person
The information in this release that relates to the projects owned by Bannerman Resources Ltd is based on information compiled by Mr Peter Batten, who is a Member of The Australasian Institute of Mining and Metallurgy and who has sufficient experience relevant to the style of mineralisation and types of deposits under consideration and to the activity which is being undertaken to qualify as Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and as a Qualified Person for purposes of National Instrument 43-101 of the Canadian Securities Administrators

About Bannerman

Bannerman Resources Limited is an emerging uranium producer with interests in two properties in Namibia and a number of properties in Botswana and Australia. Its principal and most significant asset is its 80% interest in the Anomaly A project located in the world-class uranium country of Namibia and situated on a trend southwest of the Rio Tinto Rössing uranium mine.

Bannerman is currently focused on accelerating the development of Anomaly A and the company expects to bring its Anomaly A deposit into production in 2011.


ENDS

 

[56gsa]

the barry - what does a full feasability study encompass - does this include the bankable feasibility study?? doesn't mention this and I guess you need the finance boys in for that?

I looked back at what was happening to PDN during their feasability study period.....

in mid-2003 PDN moved from pre-feas to bankable feas, they had less than $10,000 in the bank, there was excitement because u3o8 hit US$10/lb and as has been written into folklore now, in June 2003 you could still buy PDN for less than 1 cent a share...​

here's hoping this FFS gives BMN the same lift-off!

 

[eddyeagle]

Bannerman is up 48% since its low of 1.41 on the 23rd April! Not a bad return if you bought at the bottom! Keep going up please!

From a charting perspective I reckon there could be resistance around the $2.25 mark but hoping we can smash through that!

As a comparison to Paladin, PDN is up around 42% since April 29...

 

[the barry]

Announcement on the Tsx.

Looks like another monstor deposit coming up.

Drilling has commenced at Rossingburg '13' located in the same concession and immediately to the north of Bannerman's advanced project Goanikontes Anomaly 'A.'

From a ground survey completed in 2007, Rossingburg exhibits a 4.5 km outcropping alaskite body which possibly extends under cover to 6 kilometres.

Spectrometry reading highlights:
85 m @ 240 eppm U3O8
45 m @ 247 eppm U3O8
33 m @ 221 eppm U3O8
32 m @ 215 eppm U3O8

 

[the barry]

the barry - what does a full feasability study encompass - does this include the bankable feasibility study?? doesn't mention this and I guess you need the finance boys in for that?

I looked back at what was happening to PDN during their feasability study period.....

in mid-2003 PDN moved from pre-feas to bankable feas, they had less than $10,000 in the bank, there was excitement because u3o8 hit US$10/lb and as has been written into folklore now, in June 2003 you could still buy PDN for less than 1 cent a share...​

here's hoping this FFS gives BMN the same lift-off!

Yeah, the ffs is like a bfs and pfs and all the other feasability studies rolled onto one. Is a good thing, provided the end result is positive.

 

[Sean K]

I don't understand this. This guy is a fund manager, although he did shuffle some dirt around at some point.

He lives in NY? What does this anticipate? A listing on the Nasdaq? LOL

ASX RELEASE
23 May 2008
GEOFF STANLEY ACCEPTS POSITION AS CHAIRMAN OF THE BOARD OF DIRECTORS FOR BANNERMAN RESOURCES

The Board of Directors of Bannerman Resources Ltd. (ASX: BMN, TSX: BAN, NSX: BMN) is pleased to announce the appointment of Mr. Geoff Stanley as Non-Executive Chairman of the Company effective immediately. Mr. Stanley is based in New York and will replace Mr. Alastair Clayton who will step aside from the role of Chairman effective immediately.

And WTF did Clayton do? 'step aside immediately', geezes!! It's like he's been having it off with the Captains wife............

Management goes down one notch with NO explanation for the move, and hiring some guy who is sitting in an ivory castle in the Big Apple, who hasn't even touched foot in Namibia except maybe with Biliton 30 years ago, or on a game hunting expedition!



Someone got something nice to say???

 

[TheAbyss]

Well i think this may well be the making of Bannerman. What did Wayne Richards do for BRM? A hell of a lot. Geoff Stanley brings a lot of credibility to BMN IMO. A wealth of mining and MONEY experience.
.

See quote below from BMN on what they expect form Stanley so that tells us what they are looking to do in the near term.

We are very pleased to welcome Geoff Stanley to the Board," says Peter Batten, Managing Director and CEO of Bannerman Resources. "Someone of Geoff's calibre brings a wealth of experience and recognition in both the Australian and North American capital markets. We are delighted to continue to attract world class talent to the company and look forward to his important contribution as we guide the Goanikontes uranium project through the design and financing stages and through production."

Mr. Stanley serves on the Board of Directors for Crescent Gold Limited, also an ASX and TSX listed gold producer.

 

[Sean K]

There's several ways to assess a directors capability, committment and interest in a company, and one way is how much money they want to committ to it, hopefully their own, and not borrowed!

Mr Goeff Stanley, the fund manager in NY, has.....

drum roll.....

NIL!

Let's hope he thinks it's a good investment in the future. When he gets to understand the continent it's on, and what it does.

LOL

 

[TheAbyss]

Give him a chance. We shall see if a notice re his new shareholding eventuates or not. A good indicator for sure. I just didnt expect one as yet

 

[Sean K]

Give him a chance. We shall see if a notice re his new shareholding eventuates or not. A good indicator for sure. I just didnt expect one as yet

Yes, let's give him one, of course, but you need to stand back and look at these things with some perspective. The one eyed football supporters will only see all the positives. Those who have been around the traps may see things more objectively. So far, I have alarm bells ringing really. And, I'm not a fanatical football supporter.

So, happy if someone can please tell me why this is so good..

Cheers.

 

[TheAbyss]

I thought I did have perspective. I do not own any BMN and never have.

Sure, the departing Mr Clayton must have had some pretty good reasonons or done something politacally damaging to relinquish or lose his position. What it is we may well never know.

Either way they do have a pretty able replacement in Stanley form my perspective. Good or bad for BMN? Time will tell. I do know once BRM obtained a highly skilled leader they got some very good traction and started making some good impressions. Sure 1b tonnes of IO helped enormously also but I suspect BRM knew that before they hired a leader to take them to new heights. What if that same reasoning is why Stanley is now on board?

 

[Schmuckie]

I don't understand this. This guy is a fund manager, although he did shuffle some dirt around at some point.

He lives in NY? What does this anticipate? A listing on the Nasdaq? LOL


And WTF did Clayton do? 'step aside immediately', geezes!! It's like he's been having it off with the Captains wife............

Management goes down one notch with NO explanation for the move, and hiring some guy who is sitting in an ivory castle in the Big Apple, who hasn't even touched foot in Namibia except maybe with Biliton 30 years ago, or on a game hunting expedition!



Someone got something nice to say???

The juniors and the intermediate players need directors with investment management experience in major markets such as London and New York right now. With the current credit crunch, access to less-known sources of funds or more sophisticated contracts with more parties to spread the risk is the only way the smaller companies can move ahead to finance projects, IMHO.

 

[Go Nuke]

Does this mean much or is it something you get off a Weet Bix box?

Geoff has been a highly ranked analyst in the Australian, Canadian, and US equity markets, earning numerous
prestigious awards including number one ranking in the Wall Street Journal's "Best on the Street" survey in the
Metals and Mining category.

taken from the WA Business news

Sounds ok to me
At least it sounds like he may bring some new attention to Bannerman if he has connections with Wall Street in some way, shape or form.

But I agree, it will be good to see him buying the company using some of his wealth

 

[Sean K]

Does this mean much or is it something you get off a Weet Bix box?

But I agree, it will be good to see him buying the company using some of his wealth

I think Chris's, Capt Johns's and Halba's CVs add up to much better. Then, add it Daz and you have a real management group.

I do really need to check the background of this dude before making an 'informed' decision, but on the surface of it, it's confusing.

Especially confusing because this guy doesn't seem to have any experience bringing a uranium mine to production....

Maybe he's good at darts or something?

 

[gfresh]

Often these changes can be fairly sudden, it doesn't necessarily mean any problems. Maybe Mr Clayton has realised he has too much of a workload, or has been offered a prime position on the board of another larger co, or there may be some conflict of interest if he's going to another U miner. Who knows.

I think Geoff *seems* to be a good selection, and of course will have to prove himself. The US connection to me would seem to be a vital for a company such as Bannerman. Who gives a toss about Australia, we don't have any clue to the benefits of Uranium as the rest of the world is moving and upgrading their power generation to nuclear. So having somebody with experience, and some respect in the US market is a good hat to have.

The financial side pointed above is a bonus, and also, securing long-term supply contracts with US nuclear power companies (or the like) is going to be what bannerman is going to require in the near distant future if it is to become a successful producer. Would seem to me you'd want somebody in the US (or another large centre) for that sort of thing.

As a straw poll, you're outvoted Kennas :

 

[Sean K]

As a straw poll, you're outvoted Kennas :

Yep, but I WANT this to be good!!!! Damn it!!!! And I'm disappointed, so far.

What's the count above.

1 against
3 for
1 abstained

 

[Rafa]

Yep, but I WANT this to be good!!!! Damn it!!!! And I'm disappointed, so far.

What's the count above.

1 against
3 for
1 abstained

fella's calm down, there is only one poll that matters, the share price...
so far, down 3 cents on a generally down day, with marginally below average volume, i think that points to either
1. no ones read the annoucement
2. its been understood and neither positive or negative.

verdict: neutral.

 

[SGB]

I think Chris's, Capt Johns's and Halba's CVs add up to much better. Then, add it Daz and you have a real management group.

HE HE HE

Nice one.

If you go back to page 110, you'll also get so handy money managment advice.