Australian (ASX) Stock Market Forum

BMN - Bannerman Energy

Jump to new
Yes, nice finish. Had an outstanding run. Potential DT probably off the table now. That resistance should now be support I think. I thought some people may shift over from EXT but it just keeps going up and up as well. Incredible.
 

Attachments

  • BMN.gif
    BMN.gif
    17.3 KB · Views: 7
For all the hype with EXT, BMN has done just fine, increasing 5.2 times since the Nov 08 low, compared with 6.7 times for EXT - hard to believe when looking at the charts.
 
BMN defied the market drop yesterday and is doing so again today. Seems if it can crack through the $1.30 level then sellers could thin out quickly.
 
another big day today, done a mill in first half hour of trade, unlike yest held onto a buck.
floating around a bit.
 
ann out regarding drilling update at the oshiveli prospect at the etango project in namibia

...

Broad higher grade mineralised zones often close to or directly from surface.
Highlights include 43 metres at 514 ppm U3O8 from 148 metres downhole, 77 metres at 314 ppm U3O8 from 19 metres downhole, and 22 metres at 332 ppm U3O8 from 15 metres downhole.
Further extends the known Etango mineralisation at Oshiveli along strike to the north.

...

The drilling at Oshiveli continues (45 drillholes completed to date) and the data from the current program will be incorporated into the Oshiveli mineral resource estimate in the September 2009 quarter.

...

The current resource estimate for Oshiveli, reported at a cut-off grade of 100ppm U3O8, comprises Indicated Resources of 5.5 million tonnes (“Mt”) at 182 parts per million (“ppm”) for 2.2 million pounds (“Mlbs”) of contained U3O8 and Inferred Resources of 17.6Mt at 187 ppm for 7.3Mlbs of contained U3O8.

The total Etango Project resource estimate, including the Oshiveli estimate, comprises Indicated Resources of 195.5Mt at an average grade of 207 ppm for 89.2Mlbs of U3O8, plus Inferred Resources of 87.0Mt at 195 ppm for 37.4Mlbs U3O8, reported at a cut-off grade of 100 ppm U3O8.

...
Click to expand...
cheers :)
 
happytown said:
ann out regarding drilling update at the oshiveli prospect at the etango project in namibia

cheers :)
Click to expand...
Yep, great results. Before EXT started producing 500 ++ ppm over 100m or so. They might make a mine out of this in the long term, if POU holds up. If POU comes off, or stays relatively low due to all the other projects coming on line, then grade and cash costs will be king.
 
Well the market certainly didnt care.
Current SP $1.07 same as last nights close.
Guess its not 2007 anymore.
 
yes the market couldnt care. one bit of ore had 1700 odd ppm.
you would hope one of their anomalies is a real earner gradewise, but i guess drilling them is some time away.
none of their holes in this one anomaly has near the 'bonanza' grades the ext has.
 
Thats true, but BMN are far more advanced than EXT at this point of time.
Bannerman will have an income once the mine is up and running.

The grades appear to MAYBE strengthen towards the north which looks good.

Oh and the fact that BMN haven't get a big gun on board yet (like RIO with EXT) I think just adds a bit of excitement to it:)

If the Chinese or someone else take a stake in BMN, then the sp will take off for sure:)
 
I know we need peer group comparisons, but as a non holder of EXT I do tire of the constant pumping of that stock on BMN.:mad:
Can you please compare with something else, like BNB, a stock I got lumbered with and bleeding profusely$$$lololol:banghead::banghead::banghead:
 
true sorry, i ironically have bmn, and none of the toppy 5 buck stock we wont mention.
my point is bmn hopefully have a really hi grade ore body somewhere on their tennent as well as this decent ore body. plus if bmn becomes uneconomical to mine, i'd hate to own pdns african holdings.

im just sick of it floating above a buck. its off today anyway for a run.
 
Can someone shed light on the cashflow situation as presented by the last quarterly report?

They have 4.6million cash.
Their anticipated spend next quarter is 6 million.
Does this mean they'll be drawing on thier 20 million Loan facilities/Convertible Notes to finance their future activities? seeing as there is no income yet.

thanks in advance
 
i guess everyones read it but i'll put it in for a ramp.

http://business.smh.com.au/business/bhp-gears-up-for-uranium-surge-20090522-bhju.html

as for cashflow, it will all be out for sometime, they will need way more than 20mill to finish the feasibillity stages i would guess. kennas seems to have a handle on these things, but hes likely too drunk to read or underwater trying to get some shark to nip him at present, on his month long holiday.

they need to drill, drill and drill, and find someone to take part in anomally a miningwise, or buy it outright, then drill the next anomally.

all i really know is nuclear power stations presently need big amounts of uranium on startup, and still large amounts yrly.

bhp wouldnt be starting a sole u mine, along with the olympic dam expansion- which is going to dump u on the market whatever the price, unless it firmly believed in pou going up.
and why bother with capex, time etc on this when u could use it for alternate mines/reources, at a time when u can get them at a much reduced amount, unless it sees it as being a big earner.

you might find china starts stockpiling u as well, like its strategic reserves of other metals-which it is increasing. owning mines in aus is all very well, but when vital resources start becomming scarcer, and aus has a stronger millitary, having yr name on a document may become meaningless.
 
shag said:
kennas seems to have a handle on these things, but hes likely too drunk to read or underwater trying to get some shark to nip him at present, on his month long holiday.
Click to expand...
Just over 2 weeks in and will be in a position to make a comment tomorrow, or the next day shag. :) Heading back to Playa tomorrow and hopefully our favourite hotel with wifi. Cheers.
 
kennas said:
Just over 2 weeks in and will be in a position to make a comment tomorrow, or the next day shag. :) Heading back to Playa tomorrow and hopefully our favourite hotel with wifi. Cheers.
Click to expand...
Sorry, forgot about this.

In Halt at the moment for a capital raising of $30m. That probably answers the question about needing cash...

Hope it's not at too much of a discount for you guys.
 
bugger, i thought it might be a juicy takeover or they struck some gold or oil or such.
at least cap rasings have been going ok, maybe it will tell us how the north americans view it now ext is more evolved. was it one/two? yrs ago now some got onboard.
for a measly 30mill im supprised they didnt get u to rob yr piggybank to quietly sort it out.
sub or post a buk. maybe we could take bets. looks a bit bad if sub a buk i guess.
 
the sp was slowly starting to climb.
I guess the cap raising would be at around $1.10 (rough average of last 5 days trading) so would expect SP to drop.
Or am I up the wrong tree??
 
I envisage at least a 10% discount on the last trading days price.
I will be happy if the capital is raised above $1.

Anything below will be disappointing yet not surprising...
 
Ruincity said:
I envisage at least a 10% discount on the last trading days price.
I will be happy if the capital is raised above $1.

Anything below will be disappointing yet not surprising...
Click to expand...

Considering cap raisings form the majors have been at a far greater discount than this, you are more likely looking at something around the 90 cent mark. I think the vwap from the previous 5 days is about 1.10 and they have stated it will be more around the 20 percent discount mark.

I think we will be looking at the 30 mill cap raising, what will be interesting though is how much they intend to raise through the spp and how they go about doing it.

Anywhos I am sure all will be revealed soon.

At least the below article has some positives. If they manage to fast track production that obviously has some major advantages.

From Proactive Investors:

"Wednesday, May 27, 2009
Bannerman Resources Seeks Financing To Fast-Track Etango Uranium Project, Namibia

To develop Bannerman Resources' 80% owned Etango Uranium Project in Namibia, the company is seeking to raise $30 million via a placement to institutions. Bannerman will use the funds to complete the feasibility study of a large open pit operation at Etango.

The company will also offer existing shareholders a share purchase plan to buy shares at the same price as the placment."
 
Hmm looks like I better keep working the O/T to buy some more shares.

How many more cap raising can companies come up with lately..lol
 
Top