BMN - Bannerman Energy

[Go Nuke]

Well AMAZINGLY it seems to be holding 52c on a day like today!!

I'll take some consolation in that.

I can't believe it either eddy. I with my limited knowledge find it difficult to comprehend that we've fallen so far.
As I stated, its not like Uranium prices are falling in line with say gold or oil.
Though I do agree with what someone said recently and that was now that oil has fallen, the pressure is off to look at alternate fuel sources ie Uranium.
Of course this is an extremely short sighted view.

Like I keep going on about, id love an update on Savanna..and I dread a T/O of BMN, as I'd loose big time with any offer put on the table

 

[Sean K]

I picked a bottom on this $1.25!

Nice work kennas! Haha

Just about arriving at some long term support, but not sure if S&R has any validity in this environment. Fear rules.

Just thinking out loud but if the Savanna thing is squashed, U does a U, and the market stabilises (maybe 3400 ish) then it may be a good turn around story down the track. If no to those three factors, then it's in a spot of bother.

Nice chart.... eeeek.

Anyone still holding long?

 

[treefrog]

Nice chart.... eeeek.

Anyone still holding long?

bought 1/3 of my normal spec entry lot (use staged entry when price falling)at 89/90c seeing that as fib support level but didn't complete remaining buys and bailed at 62/64 after power spike down on 16th
very sad looking chart at present with next fib level at zero

 

[Go Nuke]

Yes still holding Kennas

Originaly bought in at about $2.50 them topped up at $3+ then again at $1
Bannerman is 40% of my portfolio so sitting on MAJOR paper loss, but quite frankly in far too deep now and dont have any capital to enter the stock market.

If I sold out now it would be just crazy.
Wish I had the money to take advantage of these times, though id be buying producers not specs.

 

[Sean K]

Yes still holding Kennas

Crikey GN, I hope the experience assists in future investing endeavors. Maybe an expensive lesson, or there's still a chance of a turn around at some stage. Lets hope so. Can't help thinking that if the Savanna thing wasn't hanging over it that RIO or someone would be moping it up.

 

[peteai]

Anyone willing to have a guess at the chance at the savanna claim being upheld ?

Even if it were at 90% chance of being upheld at 28cents BMN is good value - but of course only if your willing to play at such odds (yes its a gamble but maybe good odds) i.e if savanna fails I believe the SP would go above $2.80 & much more if a mine commenced.

Personally I would speculate that the chance of the savanna claim being upheld is much less than 90% but thats only my opinion. Anyone disagree ?

Maybe wishful thinking as I invested at $2 and thought may as well have a small dabble at 30 cents - maybe I need my head read

PETEAI

 

[Go Nuke]

Ah Kennas when i first got into shares it was during a fantastic bull market where it felt like you could buy into anything and make money, now Im faced with the complete opposite.

Great learning curve yes, but just to make things worse, I borrowed money to start a share portfolio and the outstanding debt is probably worth more than my shares.
Hence why I dont have anymore capital as Im trying to save for a house which is almost an impossible task on its own.

Other than this legal issue winning over Bannerman the next worse thing for me would be a takeover

the only bright note for me was selling out of FMG for a gain and buying into LNC. Unless they come out with a bad announcement.

As for Uranium wow look at PDN at the moment. T/O target or what!

 

[shag]

yes kennas
im stupid enough to b still holding, even bought a few on the way down.....
im hoping on the rio aspet too, savana must dissapear soon.
i was fortunate in a way i had to sell a lot of my portfolio to finance a dwelling(bondi beach rules!), selling my long held wpl at 47$ which i hated.
i've seen absolutely no suggestion that savanna wont go away at some stage. the sooner the better....

 

[Go Nuke]

Speaking of Savannah.....what the bloody hell is happening with that??

Why have we heard nothing. The last i heard they were late in lodging paperwork with the courts......and that was months ago!

Not very impressed with the information (or lack of) being given to us shareholders.

 

[Sean K]

Speaking of Savannah.....what the bloody hell is happening with that??

Why have we heard nothing. The last i heard they were late in lodging paperwork with the courts......and that was months ago!

Not very impressed with the information (or lack of) being given to us shareholders.

Not much flowing in regard to that eh GN. After the palm off email I got from the company in which they said the issue was 'important to us' (WTF!) I became a bit suss.

Last quarter they went through $6.3m, and they have $9.7 left in the bank. To get through BFS looks like they'll need another raising. Then I wonder where the Capex will come from? $400m ish wasn't it?

 

[Sean K]

PS, there's a handful of juniors whose charts are starting to round at the bottom.

Not sure if it's just a pause for another drop or what,
but looks more promising to me, than not.

 

[Sean K]

IRT Savanna, a little dripping through from the Quarterly, but nothing to get excited about.

Still can't help but think that if the Motion is squashed, BMN will take off. Pending POU...

I note BFS has been put out.

PARALLEL HEAP LEACH FEASIBILITY STUDY LAUNCHED

• Preliminary metallurgical results indicate the potential viability
  of heap leaching of the ore
• Potential for substantial reduction in capital expenditures
• Heap Leach testwork to commence immediately
• Finalisation of the BFS will be extended to mid-2009 to allow
  for this study to be factored into the final project design

Forgotten the original date, but obviously puts mining back as well. You'd expect other delays to the program which is normal for these types of things.

RIO taking a bite into EXT was a surprise to me. BMN are much more advanced. Perhaps the Savanna thing put them off.

Still watching with interest. Could be a great turn around story if POU recovers back to longer term predicted prices of $90 ish, and Savanna is shot.

 

[shag]

i think rio will scoop them all, big numbers equals economies of scale and such. and hell they r the old timers of the place. plus why do the hard legwork when u can let others take the risk and sweat.
also, they can develop what area, as quick as they like depending on the price of the radioactive stuff.
plus when rio and bhp become one, with olympic dam, they can control the market. plus olympic dam equals loads of cu, uranium, gold etc so they need to produce uranium if they have immense demand for the others, but with a pure uranium play, multiple sites u can slow or speed it, with planning, ie open up two, three, six mega pits, or one at a time, all depending on demand for the radioactive stuff.
ps camacos cigar lake hydro plant will till be a hydro plant by then considering how useless they have been so far, tho if water gets a precious commodity in the future if may do well out of selling well radiated h2o.....

 

[shag]

any news for this recovery. like its way outside the market paramenters.
loose lips or news i've missed?
charting kennas, a white enough candel for you?

 

[Sean K]

any news for this recovery. like its way outside the market paramenters.
loose lips or news i've missed?
charting kennas, a white enough candel for you?

Excellent few days recovering well off what may have been a bottom.

There's various downtrend and horizontal resistance lines with 50c and around 75 to be the major hurdles imo.

Volume doesn't look all that inspiring yet.

Certainly outperformed over the past few days, but had to after the significant underperformance I suppose.

Looks pretty encouraging.

 

[Go Nuke]

Agree Kennas.

Though it is great to see BMN rise up from the depths of crap the volume is way off what you would like to see.

Mind you, when the sp rises on low volume, doesn't that equate to accumulation?

I think the time frame for production has gone out the window starting with the departure of PB. With the current economic climate and Savanna to add.

As for the capital raising, id imagine it will go to/through another insto.
Haywoods again maybe?

As much as i like Bannerman and have much in it, Id laugh if they expected me to put more money in....at this point of time. (If I had any anyway )

 

[Sean K]

Been some big buys go through GN.

Someone with 250K @ 50c this am which will wipe out a bit of the depth.

Unless it's pulled....



Maybe something's cookin?

 

[Sean K]

50c forming up as even more of a hurdle.

I simply can't enter this (even for a day trade) due to the Savanna black swan scenario - even though I think it's bogus.

Nice rounded bottom on this, like a few other specs.

We either saw a bottom on these, or there's another leg down, imo. Or, we go sideways for a while. Or, anything could happen... LOL :

 

[Go Nuke]

Yeah cant blame you Kennas.

Some news on Savannah would be nice?? (hint hint BMN management)

Familiar pattern here you think?

(Multiple Moving Averages)

 

[Sean K]

50c forming up as even more of a hurdle.

I simply can't enter this (even for a day trade) due to the Savanna black swan scenario - even though I think it's bogus.

Nice rounded bottom on this, like a few other specs.

We either saw a bottom on these, or there's another leg down, imo. Or, we go sideways for a while. Or, anything could happen... LOL :

Potential significant break occurring. Waiting till eod but currently up 50% at .55. Looks promising on high volume...