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BMN - Bannerman Energy

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the market doesnt likle it much
and what a day to bring it out
why do you say it will be sold off, is that because specualtors will sell on the fact(buy on the rumor)?
it seems to have formed a nice downtrend hasnt it kennas, what do you think from charting terms?
 
I'll tell you what i think....

I great announcement with an incredible amount of upside for increasing their resource!
But yes in typical BMN fasion its being absolutely smashed like everything else on my watchlist today.

If I had more spare money, I'd be loading up on more BMN right now.

Chart wise (sorry to add my:2twocents ) I reckon good support around $1.30- $1.40.
With such a great ann I would be trying to pick any up at sub $1.38 myself. The whole resource sector is down today so would expect a bounce tomorrow or the day after perhaps.

It looks like a funny H & S pattern (which is bearish ) but fundamentaly this company has so much upside I fail to see the sp going much lower. (Hope i'm right)
I would maybe expect the sp to hover around $1.50- $1.90.

The underlying issue with Savanna is an issue and like Kennas said, may keep investors on the sidelines till its cleared up.

And if the credit crisis weren't what it was...there has to be the thought of takeover target now?

Good luck to fellow BMN holders.
I feel ya pain:whip
 

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Go Nuke said:
I'll tell you what i think....

I great announcement with an incredible amount of upside for increasing their resource!
But yes in typical BMN fasion its being absolutely smashed like everything else on my watchlist today.

If I had more spare money, I'd be loading up on more BMN right now.

Chart wise (sorry to add my:2twocents ) I reckon good support around $1.30- $1.40.
With such a great ann I would be trying to pick any up at sub $1.38 myself. The whole resource sector is down today so would expect a bounce tomorrow or the day after perhaps.

It looks like a funny H & S pattern (which is bearish ) but fundamentaly this company has so much upside I fail to see the sp going much lower. (Hope i'm right)
I would maybe expect the sp to hover around $1.50- $1.90.

The underlying issue with Savanna is an issue and like Kennas said, may keep investors on the sidelines till its cleared up.

And if the credit crisis weren't what it was...there has to be the thought of takeover target now?

Good luck to fellow BMN holders.
I feel ya pain:whip
Click to expand...
Cripes let's hope that H&S doesn't work out, the target is negative. eeeek! And therefore unlikely, unless the savanna motion is upheld. I find it very unlikely, the mining industry would lose all confidence in Namibia which is very important to their economy. But, unfortunately, we don't know the justification for the motion.

Now, BMN need to get moving into BFS as quickly as possible and get finances sorted to get into production.

I'm still amazed that they are sitting on this resource with so many of the logistics sorted, open cut, and are valued at about $2 a lb or something. Meanwhile Kyntire, which can't be mined, goes for $6+ lb. Confused as hell.
 
Just watching CNN polical commentary and McCann says he wants to add 45 new nuclear power stations over the next 20 years. I've got no idea how much fuel that adds up to but I'll take a pluck and say a lot.

Not sure how many Obama wants to add, but he's more into sustainable and clean fuel than drilling for more oil.

I haven't seen a recent update on nuclear power stations coming on line and planned. Anyone got some facts and figures? I might do a google.

Funny that ALL commodity stocks (even agg, U and PMs) have tanked even though these particular commods are not really linked to the likely commod decline during the world recession. (unless of course they are effected)

If they are not, look to be oversold purely on sentiment, instead of any potential fundy changes.

PS, found this comment on China late last year:

Under plans already announced, China intends to spend $50 billion to build 32 nuclear plants by 2020. Some analysts say the country will build 300 more by the middle of the century. That's not much less than the generating power of all the nuclear plants in the world today.
Click to expand...

300 more? Crikey!
 
Also from memory all new Nuclear Powerstations need to buy 2-3 years supply of Uranium a while (cant remember the timeframe) before even starting.

I am a holder of both BMN and EXT and the activity in both sp is almost exact opposites. Except for EXT isnt going up.:banghead:
 
kennas said:
Cripes let's hope that H&S doesn't work out, the target is negative. eeeek! And therefore unlikely, unless the savanna motion is upheld. I find it very unlikely, the mining industry would lose all confidence in Namibia which is very important to their economy. But, unfortunately, we don't know the justification for the motion.

Now, BMN need to get moving into BFS as quickly as possible and get finances sorted to get into production.

I'm still amazed that they are sitting on this resource with so many of the logistics sorted, open cut, and are valued at about $2 a lb or something. Meanwhile Kyntire, which can't be mined, goes for $6+ lb. Confused as hell.
Click to expand...


You have to wonder about the potential of a take over with the savanah issue hanging over the company's head. At current levels you would have to think it was a no brainer without that issue hanging around. The sooner it gets cleared up the better.

Not sure why it was posted like this on the asx,

"Given the extensive strike extent of the Anomaly A to Ompo trend in excess of 11 kms, with known subcropping radioactive alaskite zones, in addition to the several other 1 to 6km alaskite prospects being tested the Company has a conceptual exploration target of at least 100 to 200Mlbs from these areas over and above the +100Mlbs already defined at Anomaly A."

but in the announcement to shareholders they stated,

"Given the extensive strike extent of the Anomaly A to Ompo trend in excess of 11 kms, with known subcropping radioactive alaskite zones, in addition to the several other 1 to 6km alaskite prospects being tested the Company is targeting a potential 200 to 400 Mt of mineralisation from these areas at grades of 200 ppm to 300 ppm U3O8 to add to the +100Mlbs already defined at Anomaly A."

Really need to get the drills pumping to get these resources defined. Good to note the improved targeted grades. Anyone got any ideas as to how long it will take to get these drilled out. Although they have extra drills, i assume they will be spread out and therefore take about the same amount of time as AA?
 
This was from a few pages back Kennas and info i found on Nuclear reactors...

Quote:
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
Click to expand...

I also saw an interview on CNBC this mornig with a CEO from an energy company in the U.S (cant remember which one) and he said even though California has a ban on Nuclear facilities, nuclear would be the only current solution to reducing greenhouse gases and would become a larger part of thier future business.

But as Ive stated earlier, any takeover would have to be a whopper $4++ for me to accept!
Even though I'm sure BMN is worth much more than that;)
 
kennas said:
Cripes let's hope that H&S doesn't work out, the target is negative. eeeek! And therefore unlikely, unless the savanna motion is upheld. I find it very unlikely, the mining industry would lose all confidence in Namibia which is very important to their economy. But, unfortunately, we don't know the justification for the motion.
Click to expand...

According to BMN Namibia was world No2 for mining investment and governance.

"The Namibian legal system is characterized by legal pluralism. It is an amalgamation of Westminster-style Constitutional law, Roman-Dutch common law, customary law and international law. Most of what constitutes the body of Namibian law is not codified and must be distilled from the evolving body of jurisprudence".

One interpretation of the motion:

Imagine a company digging around the Namib desert since at least 1982,eking out an existence from the rocks. After 26 years of this you realise that some insignificant 20 cent Australian company has come into your country, acquired leases, and defined a significant U3O2 deposit. Worse still, the resource had been known about for years and others had already completed drilling. Imagine how you would feel if you even knew about the previous drilling, ignored it, and the resource ends up being worth say, gross, $20,000,000,000 (200 mlbs X $100 per lb). So when you apply for a lease for the rocks that you usually go after you think - I deserve a piece of that. Maybe they will give me a piece of the action. So even though you have never mined U3O2 you lodge a claim for it on the same tenement. The more uncertainty you create, the more the share price is affected, the more likely it seems you will get some sort of benefit for your trouble.
 
Are you suggesting that perhaps if Savanna cant get a slice of the action...it would be a good time for them to buy into BMN and pick up some cheap shares?

I like that idea, but it probably wouldn't sit well in a court case:)


U3O2
Click to expand...

Its U308 sorry mate.
 
Go Nuke said:
Its U308 sorry mate.
Click to expand...

Excellent dude! We even have extra oxygen with our uranium.
Really - Thanks for correcting me.

The comments on my last post were facetious. The serious question is to the basis (if any) of the legal action. I understand that a "notice of motion" is a paper which is served on another solicitor telling them that a motion will be made to the court on a certain day. This suggests to me that Savanna have not been required to justify their legal action as yet??? Maybe they do not actually have anything to substantiate their claims??? However, they have forced the MME etc. to reveal all the details regarding the granting of EPL 3345. Maybe Savanna are now trawling for any problems that they can discern in this process. I would like to hear if someone has knowledge on the processes involved in this type of legal matter.

The other question is who is the "individual known as Robert D Wirtz." Was he a previous lease holder? If so that should have been known by BMN.

DYOR

I hold BMN
 
OMG:eek:

We are doomed!!:(
Bannerman at $1.25ish:(

I wouldn't have thought the uranium sector would be hit like the other miners as the price of U is pretty stable.
I wonder how much of this is caused by the Savanna bs?

From high of $4+ to where it is today is really disappointing to say the least. Such a qualitiy stock too. (And about 40% of my portfolio:( )

Glad Im at work right now...can't have the guys here seeing a grown man cry ;)
 
well its 1.20 now and going south fast
some news would be good
i'm tempted to buy in but wccould like to be more informed
 
Uughh Its just so depressing isn't it.

BMN might as well be looking for GOLD with the way this sp is going.
Down over 50% in 6 months is not a good look.

Even the ann of 100Mil+ of U308 with more upside wasn't enough to stop it from sliding south.
Only further ann that I can see coming would be on drilling and possible results. But right now I don't think the market will care one bit no matter what the results are:eek:

I can only hope when the metals prices bounce, so will Bannerman.

I think I have the answer to all my problems though....

:couch

There...problems gone! haha
 
Just a quick side note...

What do people think of the small trades that have been made today?

Heaps of small parcels going through.
Oh except that big trade for 200+K that went through.

Someone gathering a holding in BMN?
or the reverse.
 
major support break!!

the 140 support level has held since Oct 06
today's thump through to 121 is significant with next pause level at $1
Fib target based on 08 see-saw is 89c
 
Go Nuke said:
Just a quick side note...

What do people think of the small trades that have been made today?

Heaps of small parcels going through.
Oh except that big trade for 200+K that went through.

Someone gathering a holding in BMN?
or the reverse.
Click to expand...

I agree - lots of small trades. Today's closing prices takes us back to the point before the drilling started!

I'm keeping focused on the fundamentals. Even if the court action stalls things for a while....I am focused on the longer term - Swakop River, Elspe anomoly, Botswana (Falconbridge estimate 75 mlbs) etc.. The U3O8 price has been improving. The stock must be significantly undervalued on a $ per pound basis - let alone the discovery upside.

DYOR
 
well at least its consitant
down to a tad over a dollar today
whats the bet the 90's is its bottom?
they need to send a delegation to namibia to twist some arms and say how this legal action is making a micky out of the namibia mining sector.
a bit of quick african justice is needed....
 
its sunk so consistantly that its like a margin loanable stock?
can u get dodgy loans over it still or are all the opes prime like companies bust?
big volume today
 
Considering this was meant to produce 8-10 percent of the worlds U this is a MASSIVE announcement(read below).

Considering they just bought out rio tinto's deposit at 6.25 per mt of uranium, this gives bmn a value of approx 4.65 per share on take over terms. Put this in perspective, they can't mine that deposit now, or anywhere in the near term future. Cameco where relying on that mine for future contracts, they will now need to go to the market to cover these contracts, if not they will need to acquire a mine to fulfil these needs. Now lets do the math, cameco's mine was to come on line in 2011, can anyone think of a mine which will come on around that time? Surely at these price levels this company must come under some serious t/o interest?



UPDATE 1-Cameco halts repair work at Cigar Lake uranium operation.

Tue Aug 12, 2008 10:09pm EDT

NEW YORK, Aug 12 (Reuters) - Canada's Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz), the world's largest uranium producer, said on Tuesday it suspended remediation work at the No. 1 shaft at its key Cigar Lake uranium project after too much water was noticed flowing into the mine.

The company said it is now working to determine the source of the inflow at the mine in northern Saskatchewan, and to determine if there will be an impact on its planned production date.

Cameco has said it expects to begin production at Cigar Lake by 2011 at the earliest. It has been working to repair the mine since a flood in 2006.

Before the flood, the mine had been expected to eventually produce 18 million pounds of uranium annually, or more than 10 percent of world output.

The company said the water flowing in on Tuesday increased to a rate "beyond the range that can be managed while sustaining work in the shaft."

"An inflow at this rate is disappointing but our remediation plan ... recognized the risk and included specific actions to be taken at various levels of inflow," Tim Gitzel, Cameco's chief operating officer, said in a statement.

Cameco said it is gathering additional data, and will provide a another update on the suspension on Aug. 14, when it posts second-quarter results. (Reporting by Jonathan Spicer; Editing by Gary Hill)
 
but whos going to take over a company when they may not be able to mine their site?
wouldnt that scare off all predators untill its settled?

the market is playing out very much just like it did last year to me
 
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