BMN - Bannerman Energy

[eddyeagle]

I am finally back in the black on both Bannerman and Paladin! It's been a painful few months but my faith has been rewarded! Bannerman is up around 70% from it's April low of 1.40!

 

[mu5hu]

Hey,

Just wondering if ppl are using a stop loss on BMN and if so at what price are you predicting it will respect?

Cheers

 

[Sean K]

Hey,

Just wondering if ppl are using a stop loss on BMN and if so at what price are you predicting it will respect?

Cheers

I have been. My last sell was a breakdown through $2.50 and my last buy a break up through $2.00. Not buying/selling in total, just portions. The main reason I've been using stops is because there has still been some obvious concern about the company, industry, and markets, as is demonstarted in the radical price movements. However, has clearly been in an uptrend for some time, since the bottom, as discussed through the thread.

From here, if you are one to buy and sell according to fluctuations in price, you need to determine where you think the most support is on the way back down, and/or, what you are willing to lose on paper. $2.25 needs to be tested to be the new support, which you would expect so. Was lots of resistance there, and breaking through is very significant. Below that, $2.00. Or, what's your maximum loss? 10%, 20%?? Depends on how you trade/invest.

Or, go back through the fundamentals and if you want to be a buy and hold investor, there's a high probability that this will find it's true value leading into development and production. Valuations by the brokers range from $3.50 ish to $7.00 from memory, to be corrected. Need to check.

 

[Go Nuke]

Bannerman is going great guns today considering the conditions!! :badass:

Lets now see if $2.50 holds.
Finally back to the levels I bought in at over 12months ago

I imagine it can only get better, with AA final resourse comming and drill results from the other projects.

When will the attention come back to Uranium as an alternative power source.

( For anyone who was losing faith in Uranium....)

Uranium Market

There are 442 reactors currently operating producing 16 per cent of the world's electricity in 31 countries.

There are 28 reactors are under construction & 222 reactors planned or proposed.

Annual production of 41,600 tonnes of uranium compares with annual reactor demand of 66,500 tonnes.

The secondary supply market heavily drawn down, and speculative hoarding and hedging is taking place.

Supply/demand is set to peak around 2010-2012

From Tradingmarkets.com

 

[Sean K]

Long term suspect of this stock, due to idioctric ramping by taxi drivers.

As has been posted, likely bottom identified, and continuing upward after some reasonable bumps.

Breaking through $2.25 and holding highly significant.

$2.50 will be more challenging, and too early to call due to market over/under stupidity.

 

[Rafa]

Long term suspect of this stock, due to idioctric ramping by taxi drivers.

I remember that...
I hope all those taxi drivers have sold out by now...

2.25 is well and truly broken, tho would like it to come back to that level to test the support.... oh well, can't complain with the last few days...

 

[the barry]

http://www.news.com.au/business/story/0,23636,23931537-31037,00.html

Interesting read,

“Interest in energy, particularly coal seam gas, which has attracted interest from major international players including, Royal Dutch Shell, Europe's largest oil company, is expected to continue, while uranium is on the verge of a comeback after a couple of years in the wilderness.

Deutsche Bank said in a note to clients that the "world is on the verge of a uranium renaissance" and that the "financial markets continue to underestimate the potential for a rapid increase in uranium demand going forward".

Bmn is going to be a massive take over target once its resource is out (provided it cracks the magic 100 mark). The fact management has lost control of 14.5 percent of the company through the opus fiasco makes it all the more succeptible to a take over attempt.GE just took a 5 percent stake in pdn. Things are going to heat up in this sector.

 

[Sean K]

Two month uptrend looks vulnerable. Breaking back down through $2.25 poor darts. Might see some sideways action at least, for a bit here.

Would have to expect a 100 m lbs JORC out in a few weeks to set it back in motion to potential near term producer valuation.

 

[goatpointer]

Do you think that uranium previously earmarked for military purposes and the developments with Thorium reactors are having an effect on the prospects of BMN (and others)?

 

[Go Nuke]

Hmmm. i keep a close eye on a Thorium company in the U.S and have seen no real advance in their sp of late.
In fact its still trading below its 200 MA.

I think the use of Thorium is still in a fairly new development stage and certainly isn't up there yet with the likes of Uranium use.

I'll do a little more digging and see if the Thorium research has gained much ground of late.

 

[Sean K]

Well, this is interesting.

Rio Tinto reaches agreement to sell its Kintyre Uranium Project for US$495 million
10 July 2008

Rio Tinto has signed an agreement to sell the Kintyre uranium project located in Western Australia to a joint venture consortium comprising subsidiaries of Cameco Corporation and Mitsubishi Development Pty Ltd for US$495 million.

WA don't even allow new U mining, and how long, who knows?

Just checking the Kintyre resource base to make a comparison.

Cripes, it's just 80m lbs but not sure of the grade, probably very good.

Not sure how much longer BMN can stay at this value, or why it's being ignored.

 

[Go Nuke]

Well i think your right Kennas.

I still would not be suprised to see Cameco or Areva take a stab at BMN perhaps once they have ann the final AA resource.

I mean Bannerman have SO much more around AA!

Cripes, it's just 80m lbs but not sure of the grade, probably very good.

I only found this on the Kintyre website..

A resource of 36,000t of U3O8 has been estimated in the immediate Kintyre area. This includes the Kintyre, Whale and Pioneer ore deposits.

Drilling has identified an indicated resource of 24,000t of U3O8 and more than 11,000 tonnes of inferred resources at a 0.5kg/t U3O8 cut off grade.

The Kintyre Project involves a mine and associated treatment facilities at the Kintyre site with an initial production output of 1,200tpa of U3O8.

Ive yet to find anything on the grades yet too.

This info was funny...

Rio Tinto has lost critical Aboriginal support for the proposed sale of its high-grade Kintyre uranium deposit in Western Australia, raising the prospect that it could face a legal challenge to its rights to sell the $600 million property to one of the uranium groups it is lining up as a buyer. Undisclosed offers made by Rio to the Martu people, the traditional owners, to win their support for the sale process are said to have been "embarrassingly low" given that Martu support is crucial to Kintyre, one of Australia's biggest undeveloped uranium deposits, becoming a mine. (The Age March 19, 2008)

At least Nambia is all for U mining

 

[the barry]

Well, this is interesting.


WA don't even allow new U mining, and how long, who knows?

Just checking the Kintyre resource base to make a comparison.

Cripes, it's just 80m lbs but not sure of the grade, probably very good.

Not sure how much longer BMN can stay at this value, or why it's being ignored.

I don't get it either. If it announces anything over 100 mlbs at a grade around the 240ppm mark and doesnt get taken over at this market cap level I will be amazed.

 

[qeegbill]

Well, this is interesting.


WA don't even allow new U mining, and how long, who knows?

Just checking the Kintyre resource base to make a comparison.

Cripes, it's just 80m lbs but not sure of the grade, probably very good.

Not sure how much longer BMN can stay at this value, or why it's being ignored.

I went to the last BMN shareholders meeting. There was a definite pause in the meeting after one of the directors mentioned the Areva takeover of Uramin. The takeover price was US$2.5 billion for three near operational mines in Africa - the main one being Trekkopje in Namibia (152mlbs). The total U3O2 reserves for the three mines was about 263 mlbs.

BMN's current JORC resource for Anomaly A is 72mlbs. This estimate is for the the first 300m - the resource has since been drilled to 400m. Richer grades are emerging at depth. Therefore a total in excess of 100mlbs seems possible. Further, Anomaly A is only <3 km out of the total strike length of over 35 km at Goanikontes. Then there is Swakop River which is adjacent to Langer Heinrich and yet to be drilled and Botswana...

So .... if there is a takeover offer - $2,500,000,000 and ?150,000,000 shares. I think Kennas is right- they are cheap at @ $2.12.

I am a BMN shareholder

DYOR

 

[Sean K]

LN started another thread on the Kintyre and did some market valuation on the pounds to dollars paid.

Hi guys,

Anyone see the RIO ann that is selling its Kintyre Uranium deposit for $495m USD?


This puzzles me for 2 reasons

1. Kintyre has a JORC 13Mt's@ 0.028% U = 80M lb's U approx, so at $495m US that = $6/lb U which is 10% of the current spot price, but the mkts are weak surely they could have got it cheaper? Cameco are paying top dollar


2. Its in W.A. so it won't be mineable for 500years so long as the Labour Govt rule the roost


Anyway I think its very very interesting as perhaps it sets a new benchmark price for U deposits world wide and shows that even in all this turmoil, quality U deposits will be sought by the BIG BOYS

$6 a pound benchmark, would make BMN worth $600m on their 100m lbs, which they should get close to.

 

[Sean K]

Too early to tell because the overall markets could squash ANYTHING, but bouncing off $2.00 support is positive. For now.

Won't be happy till $2.25 is taken back.

 

[pattyp]

"Won't be happy till $2.25 is taken back."

Looking very Bullish Kennas - The force is strong with this one!

Hoping for a solid close!

Pat

 

[Sean K]

"Won't be happy till $2.25 is taken back."

Looking very Bullish Kennas - The force is strong with this one!

Hoping for a solid close!

Pat

Just intaday, anything could and will happen.



Keep the powder dry.

My brother keeps telling me that at the moment.


Then it's time to worry.

 

[pattyp]

Just intaday, anything could and will happen.

Ahhh.... How very true...

Will prolly finish under 200c just to screw with our minds!

I'm cautiously confident - I did buy a small bunch at 200c in hope of a bounce... So far so good, but ST its really just a gamble!

Pat

 

[Sean K]

Ahhh.... How very true...

Will prolly finish under 200c just to screw with our minds!

I'm cautiously confident - I did buy a small bunch at 200c in hope of a bounce... So far so good, but ST its really just a gamble!

Pat

If it finishes above then I will be bullish, in the short term.

Long term though, I am more bullish due to the RIO sale of their WA dog.

Why would anyone with a brain buy that?

Confounding..