Australian (ASX) Stock Market Forum

BMN - Bannerman Energy

Jump to new
chris1983 said:
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.
Click to expand...

Yep, sorry got the dates wrong for the share split. That of course has a significant effect of the sp target, hence why they came out with the additional report so close.

So, what LIS was referring to was the Carmichael report putting a $1.60 Mar 07 price target on this and since then the spot price has gone up from about $55 to $72. So that should account for BMN racing to over $2.00 for a bit before pulling back.

Thanks for putting the time into clarrifying this Chris.
 
Thats okay Kennas. I guess I was a little annoyed. Maybe I wroke up on the wrong side of the bed I dont know. I'll watch myself carefully today because Im seeing the misses and I dont wanna piss her off haha.

Let me say..if they retrace heavily..keep a very close eye on them. I remember when AGS retraced and it didnt deserve to fall back to where it did. Look where they are now. Based off all the information we can go by Bannerman is shaping up niceley. This is all just from the Goanikontes prospect. What about the swakop river prospect with the elpse channel.

Also add this into the picture. im sure you have heard of ACB (Acap resources). If you havnt I advise you look into them because they are another I'm interested in. Its hard to have them all though. Anyway Bannerman also have tenements straddling ACB's current deposit.

"Serule Project

The Serule South Prospecting Licence (133/2005) is located immediately north of the Mokobaesi No.1 uranium deposit. Mineralisation is expected to mirror that of the Mokobaesi deposit which consists of encrustations of secondary yellow uranium ochre in calcrete and in the underlying Ecca siltstones."

Information above is taken from their website.
 
Thanks Kennas and Chris, sorry I wasn't around this morning to join in the banter but I see all has been resolved peacefully. I think the last 10 posts have given enough info to everyone to keep them going over christmas. I think its consolidation time before more results get released. And yes Chris ACB is one of my other stocks that I'm keeping a close eye on. Did you see the research note on ACB from eResearch?
 
LifeisShort said:
Thanks Kennas and Chris, sorry I wasn't around this morning to join in the banter but I see all has been resolved peacefully. I think the last 10 posts have given enough info to everyone to keep them going over christmas. I think its consolidation time before more results get released. And yes Chris ACB is one of my other stocks that I'm keeping a close eye on. Did you see the research note on ACB from eResearch?
Click to expand...

Morning LIS,

No I havnt seen that site..I'll have to check it out. Thanks. I pm'd you

In regards to the sp consolidating..I think so too. I think BMN will continue to get further media coverage though so maybe consolidation wont be on the cards for too long.
 
kennas said:
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)
Click to expand...

Hey Kennas,

Just wanted to let you know that what I quoted was from the very first research report done by Carmichael..it wasnt made up. Would of posted this ages ago but forgot too. See link below.

http://www.bannermanresources.com.au/docs/Carmichael04Jul2006.pdf

"Goanikontes prospect has a 10 to 200Mt target at 0.02 to 0.05% U3O8"
 
Anyway..I think we can take one of my summaries made earlier in the forum a bit further now that we have some results. I have posted this on other forum sites and I thought I should also post it here since I have always blabbered on this thread for some time now.

Heres a run down for everyone.

The recent drilling results show that the deposit will be very deep and from the surface. No other explorers have reported that have they?? Uranium is being hit at 300+ meters depths and from the surface. All we need now is for it to be over a decent strike and we have got the stock of 2006 and 2007.

One thing. Results are only based off Goanikontes and I think thats all we are going to need to see the price rocket. I hope they hit uranium in the elpse channel..o baby..whats going to happen then.

Also take note of this. Taken from the last activities report.

“There are a variety of alaskite types identifiable in the region in the high strain zones associated with granitic domal features. The alaskites are classed as ‘A’ to ‘F’ types with classes ‘D’ and ‘E’ recognised as being the host to significant uranium mineralisation in the district. These are easily recognisable in the field and in the core.”

They are going to have a lot of ore in their EPL’s containing uranium. ATM they are only reporting on the Goanikontes deposit.

“The reprocessed data outlined the Goanikontes dome contact as anomalous for a continuous strike length in excess of 22 kilometres. Significantly, the East Anomaly has the highest radiometric reading of all the anomalies in the licence and remains untested. Also, the dome nose displays continuous anomalism despite the area being under surficial cover, a condition that tends to mask uranium mineralisation. Mineralisation extends north of the Swakop River with all current exploration concentrating south of the river.”

“Significantly in the northern portion of the licence, the Rossingberg 11 Anomaly (R11), has been shown to extend for a total of 15 kilometres, a substantially greater extent than previously thought. The anomaly is associated with the domal contact of the Rossingberg dome and appears to extend into a faulted structure along a stratigraphic contact, a style of mineralisation not previously considered.”

Guys..in excess of 22km is the strike length of Goanikontes alone. Assume a width of what 50 meters even. Remember I'm not even going to take into account the Rossingberg 11 Anomoly that I have just quoted above.

Summary: 22000m strike x 50m width x 100m depth = 110,000,000 tonnes

Lets say they have an average grade at 0.03. It equates to 33,000 t of uranium..not bad when you compare it to Paladins resource. Paladin also with a market cap close to 4 billion..it just shows where Bannerman can take the company.

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)

The inground value will be 72752546 pounds multiplied by the spot price of 72. This equates to in excess of 5.2 billion dollars inground value off current prices and they believe this will continue to increase which Bannerman will have an 80% interest in. Don’t forget this is all pretty conservative. You can pretty much lock these uranium prices in because there is going to be no slow down in demand for uranium. Talk about the best long term investment you possibly could find IMO.

Then dont forget this. They are in Botswana. All their EPL's are next to land that contains deposits. sometimes great stories happen with companies. I think thats happening with Bannerman.

"Botswana - Serule Project

The Serule South Prospecting Licence (133/2005) is located immediately north of the Mokobaesi No.1 uranium deposit. Mineralisation is expected to mirror that of the Mokobaesi deposit which consists of encrustations of secondary yellow uranium ochre in calcrete and in the underlying Ecca siltstones."

The Mokobaesi deposit is currently being drilled by ACAP Resources for those of you who are interested.

Currently from the attachment you can see they have received assay results for one hole and spectrometer results for 3 of the holes. There are still two holes on which we are awaiting the spectrometer and assays. We are also awaiting the assays for the 2 holes that only have the reported results for the spectrometer readings.

They allready said the spectrometer results are conservative in regards to the assays so expect a message after christmas with hole GOA0012 reporting about 700+ ppm at 340 meters depth. I wonder what they will title the announcement "Excellent results continue at Goanikontes" haha then people will just start jumping on board. Its funny because we allready know they are going to report that in their next announcement. Unless the sp has allready factored in good results.

Should be interesting. I just hope the two existing holes they havnt reported on are also good.

All the best,

Chris
 

Attachments

  • image.jpg
    image.jpg
    83.7 KB · Views: 138
chris1983 said:
A

Summary: 22000m strike x 50m width x 100m depth = 110,000,000 tonnes

Chris
Click to expand...
Should it be 111,000,000 cubic metres? The density is about 2.8tonnes per cubic metres, right?

By the way, I always don't know what they are talking about the ore grade, sometimes they use ppm, sometimes they use %. I think 500ppm is not equal to 0.05%, right?

Merry Christmas, and happy New Year!
 
mmmmining said:
Should it be 111,000,000 cubic metres? The density is about 2.8tonnes per cubic metres, right?

By the way, I always don't know what they are talking about the ore grade, sometimes they use ppm, sometimes they use %. I think 500ppm is not equal to 0.05%, right?

Merry Christmas, and happy New Year!
Click to expand...

Your definately right. I missed that. Even better then. I'm looking around also and Can't find anything exact..I saw that it say's 2.4 tonnes per cubic meter etc etc when searching around google..Im off to a christmas doo now but yeah even off 2.4 tonnes per cubic meter that is

264,000,000 tonnes. So its amazing. But hey this is all talk. They have a lot of Ore. Lets hope its all containing uranium. But one of their drills hit it at 300+ meters and the other at 100+ meters. Should be interesting to see the following the results. Have a good christmas.

500ppm is equal is 0.05.

seeya!! :p
 
chris1983 said:
500ppm is equal is 0.05.
Click to expand...

My almost forgotten chemistry knowledge tells me that they are only equal if the referred material have the same relative density. I believe anything to do with uranium should be heavier, so I believe 500ppm of U3O8 is better than 0.05% of uranium by weight.

Help, anyone knows the answer?
 
mmmmining said:
My almost forgotten chemistry knowledge tells me that they are only equal if the referred material have the same relative density. I believe anything to do with uranium should be heavier, so I believe 500ppm of U3O8 is better than 0.05% of uranium by weight.

Help, anyone knows the answer?
Click to expand...

eh? What are we talking about? Keep it simple for the readers. 0.1% = 1000ppm meaning 0.05% = 500ppm. You can go into all this density knowledge but i'll keep things simple like Fat prophets, Carmichael and Hartleys etc etc all do.
 
mmmmining said:
My almost forgotten chemistry knowledge tells me that they are only equal if the referred material have the same relative density. I believe anything to do with uranium should be heavier, so I believe 500ppm of U3O8 is better than 0.05% of uranium by weight.

Help, anyone knows the answer?
Click to expand...

It's only liquids that are measured as volume per weight (w/v), or volume in volume (v/v) that you have to bring in density, and if you bring in density you have to worry about temperature!

For solids 500 ppm = 500 milligram per kilogram = 0.05% weight/weight (or 0.05%w/w). If you are talking solids you assume it is w/w so it is left out.
 
chris1983 said:
0.1% = 1000ppm meaning 0.05% = 500ppm.
Click to expand...
Yeah, this is my understanding of it. Thanks for the great summary above Chris. BMN up another 5%ish this morning. Incredible. Perhaps you will be able to say that this is abetter than Paladan is, or ever was, one day but it is stall extralopation and estimation at the moment. It will be extremely interesting once they get a JORC out. Hopefully the grades are closer to 500ppm to give it a better quality resourse. Still anything about 300 will be good for something potentiall this size. I've decided to buy a few, even though it could be toppy, I've been thinking it was for the past 6 months.....

That bounce off $1.75 was encouraging, and shouldn't see much downside from $1.50, if it's ever back there during a correction. Maybe. Still needs continued good results to be coming through.....
 

Attachments

  • BMN.gif
    BMN.gif
    21.8 KB · Views: 93
Hey Kennas,

Not at the cricket today mate? Atleast you got to see Warne bag 5 wickets. Glad your onboard.

Well when you look at the possibilities..it could be amazing. I'm pretty hopeful it will be amazing. Even when you look at the historic drilling they have it mapped over a large area and is open at depth between the two zones.

They have confirmed its at depth with the recent drilling. 340+ meters and 100+ meters with the spectrometer.. yet they havn't received the assays for the same holes. Lets hope the 2 holes they havn't reported on are good because it will go off then. We allready know that the assays for the 2 holes with the existing spectrometer results will be good..I guess this will give it more exposure to new investors when they release that message even though we allready know its going to happen.

Maybe profit takers will jump out on that message or new investors may see it and start jumping on board..one thing we do know is that a lot of profit takers rode the first announcement. So hopefully most of them are out and we are now going to get the next leg up.
 
All this potential is purely based on Goannikontes.....I believe the analysts did not attribute any potential figures to Swakop River or any other potential discovery. Even if the Swakop River results are terrible and they could be.....this shouldn't put BMN in any negative light as these were classified as a bonus in the first instance.
 
chris1983 said:
Hey Kennas,

Not at the cricket today mate? Atleast you got to see Warne bag 5 wickets. Glad your onboard.
Click to expand...
I saw most of Warnies wickets from the bar........ :bier:

Going back in in a few minutes.....looks like I might be seeing England bat again at this rate. :(

Wish I have bought these a while ago, but glad I've seen the light now. :) I think we've analysed this one to death the past week. Anything else we're missing? Just read through the last Fat Prophets report again, and they are incredibly bullish on it. That's not really usual for them and they are a little conservative, expecially with uranium companies.
 
LifeisShort said:
All this potential is purely based on Goannikontes.....I believe the analysts did not attribute any potential figures to Swakop River or any other potential discovery. Even if the Swakop River results are terrible and they could be.....this shouldn't put BMN in any negative light as these were classified as a bonus in the first instance.
Click to expand...

LIS your definately right. Success straight away in swakop river would be great but they were only doing aircore drilling there to determine the extent of potential paleaochannels. Goanikontes is the first and most important prospect atm.

They also have an epl just north of ACAP resources Mokobaesi No.1 uranium deposit in Botswana but they aren't even concentrating on that just yet. Everything is looking great. :)
 
I have a feeling that Swakop results will be a downer as looking at PDN and Langer Heinrych they have a very narrow concentrated channel system with their deposit.....the ground that BMN is exploring at the moment is more expansive which usually equals to lesser concentration of deposits of uranium. There probably is uranium there but most likely might not equal to commercial grades etc. It should be interesting to see what they find though as it could lead them to other potential areas/targets on their tenements. I hope they surprise us with Swakop but I have attributed no value to it whatsoever.
 
kennas said:
I saw most of Warnies wickets from the bar........ :bier:

Going back in in a few minutes.....looks like I might be seeing England bat again at this rate. :(

Wish I have bought these a while ago, but glad I've seen the light now. :) I think we've analysed this one to death the past week. Anything else we're missing? Just read through the last Fat Prophets report again, and they are incredibly bullish on it. That's not really usual for them and they are a little conservative, expecially with uranium companies.
Click to expand...

Hey Kennas,

Things arent looking to good just yet in the cricket. We still have Gilli so we are safe! hah :)

Only thing that could cause a negative spin is a capital raising. They won't need to release many shares at the current price though. I'm pretty sure they would raise it through sophisticated investors if they even need to. Below is a section quoted from the recent announcement.

"Aggressive drilling programme to commence mid January 2007 –rigs booked, approvals granted"

So it will cost money..but how much do they need for their aggressive campaign. They have the oppies expiring in May 2007 though so that should bring them about 2.4 million and as of sept 06 they still had 2.2 million in the bank. Maybe they have more than enough money to keep going.
 
Those oppies will fund their exploration (as all are in the money) and drilling in 2007. I don't believe they will try and raise any more cash anytime soon. Would be interesting to go over their cashflow in the quarterly thats coming next year to see how they are faring.
 
Top