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BMN - Bannerman Energy

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What was Andrew Forrest good at before he jumped on board with Anaconda - it certainly wasn't an understanding of the chemical cocktail required to extract laterite nickel... he was good at getting people to part with their investment dollars, and governments to join the party...

This is how I read the ann of Stanley joining - he doesn't need to go to Africa to check the drill holes or even find Livingston (sorry!) - he needs to do the rounds of the plush NYC leather couches convincing people to part with their cash so BMN moves to production - this is a different world remember than when PDN was seeking capital - MOL for example (which also was led by an investment guy) delayed its finance search although i think has just put a investment banker on their board

but be interested to know what goals Stanley has kicked in the past regarding this sort of exercise....
 
56gsa said:
What was Andrew Forrest good at before he jumped on board with Anaconda - it certainly wasn't an understanding of the chemical cocktail required to extract laterite nickel... he was good at getting people to part with their investment dollars, and governments to join the party...

This is how I read the ann of Stanley joining - he doesn't need to go to Africa to check the drill holes or even find Livingston (sorry!) - he needs to do the rounds of the plush NYC leather couches convincing people to part with their cash so BMN moves to production - this is a different world remember than when PDN was seeking capital - MOL for example (which also was led by an investment guy) delayed its finance search although i think has just put a investment banker on their board

but be interested to know what goals Stanley has kicked in the past regarding this sort of exercise....
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Yep, good points, let's hope he's a good deal maker. I can't really see what else he's value adding just yet.
 
Starting to gather momentum, something is in the wind. Starting to show some strength which has been a long time coming.
 
the barry said:
Starting to gather momentum, something is in the wind. Starting to show some strength which has been a long time coming.
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I agree Barry. But it might be just part of the recovery since the 'bottom'. Nice and steady higher lows and highs, looking ok. Would like to see a nice finish on today. And, perhaps there is something up? They are doing a bunch of exploration drilling and the next JORC is approaching.
 
kennas said:
I agree Barry. But it might be just part of the recovery since the 'bottom'. Nice and steady higher lows and highs, looking ok. Would like to see a nice finish on today. And, perhaps there is something up? They are doing a bunch of exploration drilling and the next JORC is approaching.
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I think it is part of gradual build up of expectation as we draw within site of the final resource. Hopefully this time it is within peoples expectations and expectations aren't inflated beyond belief. Still, looking better by the day.
 
kennas said:
I agree Barry. But it might be just part of the recovery since the 'bottom'. Nice and steady higher lows and highs, looking ok. Would like to see a nice finish on today. And, perhaps there is something up? They are doing a bunch of exploration drilling and the next JORC is approaching.
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Got the close we were hoping for. Up .27 cents or 13.85%. Great day, we'll just have to wait and see if this is part of the recovery or a sign of something being up.

Regardless, it will be an exciting couple of months comin, thats for sure
 
Hey kennas, can we have an update how we are looking chartwise please. To me it is starting to look quite bullish but im no expert. 100k picked up on close which is a good sign.
 
the barry said:
Hey kennas, can we have an update how we are looking chartwise please. To me it is starting to look quite bullish but im no expert. 100k picked up on close which is a good sign.
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Yeah, looked pretty good for a few weeks really. Higher lows and highs, steady upward trend. On the way back up there's resistance dotted around the place but I think the most may be around $3.00 - $3.25. Then all time highs. That's not a projection, just resistance lines. No TA targets from here that I can see.

For fundamental true value we have to wait for a few things including the final resource and exploration drilling results, more direction on POU, and BFS etc etc. I'm happy to stick to the various analysts reports with long term targets up to $7.50 ish.

http://www.datafilehost.com/download-127afcb8.html

You would have to conservatively say that if long term U stays around the $90 mark then this is currently a little undervalued.

Still a few risks of course with any exploration/developer. Savanah, utilities, nuclear black swan, POU.

I'm astounded no one has taken them over during this opportunisic time....

(Can't load charts at the moment for some reason)
 
kennas said:
Yeah, looked pretty good for a few weeks really. Higher lows and highs, steady upward trend. On the way back up there's resistance dotted around the place but I think the most may be around $3.00 - $3.25. Then all time highs. That's not a projection, just resistance lines. No TA targets from here that I can see.

For fundamental true value we have to wait for a few things including the final resource and exploration drilling results, more direction on POU, and BFS etc etc. I'm happy to stick to the various analysts reports with long term targets up to $7.50 ish.

http://www.datafilehost.com/download-127afcb8.html

You would have to conservatively say that if long term U stays around the $90 mark then this is currently a little undervalued.

Still a few risks of course with any exploration/developer. Savanah, utilities, nuclear black swan, POU.

I'm astounded no one has taken them over during this opportunisic time....

(Can't load charts at the moment for some reason)
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Hey mate, bit more good news, spot price jumped 6 bucks to $65 overnight. Things coming together slowly. Now just need the dow to stabalise.
 
I'm officially excited again.

Re: News Releases - Tuesday, June 24, 2008
Bannerman Resources' Resource Drilling Finalised at Anomaly A
Exploration Commences for Additional Production Capacity =======================================================================

Perth, Australia -- June 24, 2008 -- Bannerman Resources Ltd (ASX: BMN, TSX: BAN) ("Bannerman" or the "Company"), a uranium exploration and mine development company focused on projects in Namibia, is pleased to report that resource drilling has now been completed at Goanikontes' Anomaly A and that senior geological staff have mobilised to the Perth Company office to begin final resource estimation work.

Drill rigs have now been mobilised to explore prospects which have been identified beyond the principle uranium deposit at Goanikontes' Anomaly A. In all, fifteen prospects have been identified to date with targets prioritised based on historic drill results (where available), ground and airborne radiometric surveys and geological mapping. This marks the commencement of an exciting new exploration phase for the Company. It is the Company's intention to define additional significant uranium resources with proximity to the Anomaly A deposit.

Additional Uranium deposits could provide for;

-Enhanced and additional ore to supplement the Anomaly A project, -Additional resources to underpin a possible Stage 2 expansion beyond the envisaged 15Mt p.a. mining and milling operation at Anomaly A, -A much larger resource base for an additional stand alone plant elsewhere on the lease, utilising shared infrastructure and management capabilities.

Drilling at Anomaly A totalled 441 RC holes for 117,198 metres and 47 Diamond Core holes for 18,123 metres over the 2.3 kilometre strike that has been defined for the resource estimate. This represents the culmination of over 18 months of continuous drilling and has identified one of the world's largest known uranium deposits.

The Company expects to announce an updated resource estimate in Q3 2008. To this end, the completion of resource drilling and the mobilisation of senior geological staff to the Perth office to work with RSG Coffey Mining are major milestones.

The final resource will mostly comprise chemical assay data, including results from significant width and depth extensions that were not included in the interim resource estimate announced in January, 2008 and will also include core and RC drill hole results from infill drilling completed on a 50 metre by 50 metre grid.

This new resource estimate will be the basis of the definitive feasibility study being completed by GRD Minproc, however, mineralisation at Anomaly A remains open to the North, South, West and at depth. One diamond core rig will remain in the area testing these extensions and collecting samples for geotechnical and metallurgical test work for the feasibility study currently under commission.

Peter Batten, Managing Director says, "It is important to recognise that the Anomaly A project is in fact a single pit that does not yet include all the known mineralisation. The geological sequence hosting the Anomaly A Project is known to continue and in some cases repeat itself along strike and down dip. It would be more accurate to describe Anomaly A as the first open pit in the Project area."

Bannerman is currently establishing a sample preparation laboratory, to be run by an independent commercial laboratory firm, in Swakopmund for the exclusive use of the Company. It is expected that this facility will greatly expedite the processing of drill samples.

Exploration drilling on the other prospects has now commenced with drilling being conducted at Oshivelli, Rossingberg and at Ombuga South.

About Bannerman
Bannerman Resources Limited is an emerging uranium producer with interests in two properties in Namibia, an African country considered to be a premier mining jurisdiction. Its principal and most significant asset is its 80% interest in the Goanikontes project situated on a trend southwest of the Rio Tinto Rössing uranium mine.

Bannerman is focused on accelerating the development of one of a very large uranium deposit at Goanikontes, Namibia. A mine plan is contemplating low cost uranium production using proven processing techniques. The scoping study completed in December 2007 describes robust project economics using conservative uranium prices. A definitive feasibility study is currently underway by GRD Minproc. The company expects to bring its starter asset at the Goanikontes deposit into production by 2011.

As well, the area offers tremendous exploration potential. Exploration of an initial fifteen identified targets has commenced and will continue through the development stages of the Goanikontes starter asset.
 
"Additional resources to underpin a possible Stage 2 expansion beyond the envisaged 15Mt p.a. mining and milling operation at Anomaly A"

Looks the goods....

Still a great price... I knew something was up yesterday, grabbed some more!

PDN is having a decent run also, good sentiment will spread around a little I think.

Good Luck!

Pat
 
"Drilling at Anomaly A totalled 441 RC holes for 117,198 metres and 47 Diamond Core holes for 18,123 metres over the 2.3 kilometre strike that has been defined for the resource estimate. This represents the culmination of over 18 months of continuous drilling and has identified one of the world's largest known uranium deposits."

You gotta love that :)

Pat
 
These are the bits I love,

"This represents the culmination of over 18 months of continuous drilling and has identified one of the world's largest known uranium deposits."

and

"The final resource will mostly comprise chemical assay data, including results from significant width and depth extensions that were not included in the interim resource estimate announced in January"

and

"It is important to recognise that the Anomaly A project is in fact a single pit that does not yet include all the known mineralisation. The geological sequence hosting the Anomaly A Project is known to continue and in some cases repeat itself along strike and down dip. It would be more accurate to describe Anomaly A as the first open pit in the Project area."

and

"Exploration drilling on the other prospects has now commenced with drilling being conducted at Oshivelli, Rossingberg and at Ombuga South".

The bit I didn't love,

"The Company expects to announce an updated resource estimate in Q3 2008".

When are they going to get this thing out? The waiting is KILLING me.
 
the barry said:
The bit I didn't love,

"The Company expects to announce an updated resource estimate in Q3 2008".

When are they going to get this thing out? The waiting is KILLING me.
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Good ann, and good for long term holders. POU spot is killing the U market now, but the correction was much more likely than the price running ++$200 or whatever. Makes me think back to the early days of this thread and the Uranium Price thread to have a chuckle.

I think the big plus from this ann and their current thinking is that they can have 2 plants running on the tennament to process much more than the original SS proposal. Huge upside there. Of course, more supply, maybe lower POU, which is a balancing act in the S&D equation. Haywoods seem to be pretty bullish on the price due to the S&D situation in the mid term though, and they would know better than me.

Disappointed they're putting the final JORC back, obviously due to lab issues. Industry problem I suppose.

Would love to see all these 'fantastic' announcements translated into sp increases...

$2.25 formed up as a lot of resistance.
 

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"Would love to see all these 'fantastic' announcements translated into sp increases..."

Yea - I hear ya...

Sadly... general opinion in the market is "If its U... its garbage!" Once bitten twice shy, etc...

But if BMN can get near their production targets... Well... I've done the math :)

Pat
 
pattyp said:
"Would love to see all these 'fantastic' announcements translated into sp increases..."

Yea - I hear ya...

Sadly... general opinion in the market is "If its U... its garbage!" Once bitten twice shy, etc...

But if BMN can get near their production targets... Well... I've done the math :)

Pat
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Yep, sentiment is ruling, which the Funny Only investors should take note of. The market's a psychological beast, not a rational objective one.

Is true value EVER achieved. Seems we are only ever bumping around either side of it. Maybe long term (100yrs) we see a decent trend line?

Ahh, yes, production targets. Let's hope that they can get production up and running as planned, but prepare for something less certain. Delays are the order of the day with start ups. And then the teething problems. The potential income is quite significant for a company still with a relatively low MC to potential revenue. Got to get that happening or it's all hot air.

Catalysts for sentiment change may be:

Savanah squashed.
POU trending up.
JORC 100m lbs plus.
Regional exploration results tick.
US financials bottom (eeeek).

Still concerned about a black swan event for any U explorer though so not over committed.
 
Great announcement and a nice chart too Kennas....

As a long term BMN holder, i guess a few more months wait is OK... wouldn't consider adding more till it breaks 2.25 decisively...

there have been a few positive reports on U lately, and with a few more of those planned reactors coming online in the next year, I am reasonably confident about the spot price rising...

the thing I am not confident on is the US banking sector in particular and the global banking sector in general... if that goes belly up, its curtains for everyone... China, India, et al....
 
Looks pretty good - Need some serious volume and we may have a significant breakout...

MAs are all crossing over now...

Pat
 

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Rafa said:
Great announcement and a nice chart too Kennas....

As a long term BMN holder, i guess a few more months wait is OK... wouldn't consider adding more till it breaks 2.25 decisively...

there have been a few positive reports on U lately, and with a few more of those planned reactors coming online in the next year, I am reasonably confident about the spot price rising...

the thing I am not confident on is the US banking sector in particular and the global banking sector in general... if that goes belly up, its curtains for everyone... China, India, et al....
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Holding above 2.25, close above that and we have the potential for lift off. Goodtimes. ..................................
 
Ahh the parts I liked were about the diamond drilling continuing to test extensions and depth.

And that Bannerman are establishing a sample prep lab for exclusive use by the company to help speed up the processing of drill samples:D

Still holding a loss...but long term i think BMN is the goods.
 
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