Australian (ASX) Stock Market Forum

BMN - Bannerman Energy

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Hedders said:
Well spotted Insider and Tukker- up at $1.39 at the moment. Rio's looking good! There's been no announcements as yet- is it just the renewed interest in commodities?
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Ty Ty, Insider spotted it first. This stock was triggered with a system i am using. I dont' think there is anything other than technicals working atm.

yeay for us.

On a down note i think retail data for August comes out at 11:00. I highly doubt it will be any good might push it down a bit. Heard from a grocery store owner that his sales were really bad.
 
renewed interest in the uranium sector, with the chinese buying up Uranium explorers here... plus the chinese is trying to make Africa their resources hub, chances r they will make acquisitions on miners in Africa...
 
Hedders said:
Well spotted Insider and Tukker- up at $1.39 at the moment. Rio's looking good! There's been no announcements as yet- is it just the renewed interest in commodities?
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Haha... Rio certainly is looking good now :D Surprised how little BMN is being talked about here on Aussie Stock Forums. I feel like $1.50 will give us some grief but hopefully it will reach the top of the trend channel which is about $1.80 Time will tell. Massive volume today. I think it is moving purely on technicals. According to this website http://thepatternsite.com/at.html it states
"Patterns with a long-term rise (over 6 months) leading to the triangle show price rising an average of 37% after an upward breakout. Those with a short-term decline (less than 3 months) leading to the triangle show a 41% average rise after an upward breakout."
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That would equate to about $1.75 potentially :D
 
Great break from the triangle that had formed. It was only a matter of time until it was due for a run and the China buying Uranium story did the trick. Hopefully can push through $1.50 and keep going!
 
eddyeagle said:
Great break from the triangle that had formed. It was only a matter of time until it was due for a run and the China buying Uranium story did the trick. Hopefully can push through $1.50 and keep going!
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It shouldn't have any problems pushing through the $1.50 ceiling because of the 2 and a 1/2 month consolidating period we just came out of. There should be enough pressure built up.
 
Other than the general market remaining strong pushing everything up, it might get some support from the PDN capital raising which will be used for LH expansion, and for M&A. They could buy another junior in Australia, but they may go for something relatively well advanced that can actually be mined. Like a BMN.
 
Shaping up to have a massive resource, but the grades are still poor compared with EXT and that seems clear by the relative market caps, and deservedly so.

Still must question whether this will mine or not. So dependant on the POU. I seem to recall an earlier scoping study being done on $75 lb POU. Earlier posters in this thread in the midst of the uranium frenzy were calling much higher long term prices. Looking foolish now. No wonder BMN keep putting back PFSs and BFSs, and creating more FSs. It's not the additional material, it's the Capex and Opex related to POU that's the problem.

Interesting technical point though. Nosing up against a massive wall between 1.25-1.50 and ascending triangle. Could be a nice breakthrough if ever...
 

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yes i suspected a breakup after its change in habit over the past few weeks.
if they dont mine this one, many others will sit unmined and paladin will likely shut down some of its mines
its shallow, a relatively efficient shape to dig up, and seems relatively cheap to extract the yellowcake from the rock imo.
plus its only the first anomally to be drilled, and its finally finding some top grades, which indicate to me its got good potential to find a monster, at grt grades.
an insitu desal plant, plus acid plant will make all the mines there more profitable.

the pou drop was partly due to speculators dumping product, conservation of capital etc. the rush will be on to tie up long term u supplies again to me. in countries that will allow this.
after the massive spike last time in metals, the end users won't want to be back in that position again, ever, esp in u.
 
Todays action was very interesting... Over 2MILLION SHARES TRADED. Shares were sold down and then recovered quickly in the last 1/2 hour of the day. Pure shaking the tree. Great Hammer formation today...
 
Mmmm i bought these back a few months ago... Not sure exactly what is going on.. they are a bit all over the place. Anyone have a take on it?
 
Can someone with a better knowledge of these things please explain to me what was so bad about the BMN announcement this morning?

The SP dropped 10% very quickly on the news ...
 
Pivotonian said:
Can someone with a better knowledge of these things please explain to me what was so bad about the BMN announcement this morning?

The SP dropped 10% very quickly on the news ...
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BMN drops on any news. It's a recurring event. It's because it has been overly ramped by idiot taxi drivers who think this company is the next BHP. Any time they present a report that does not mean they have the next OD or are being taken over by an international U major they get smashed. Add to that their initial management were crooks and were sacked for being dickheads, and you get the point.

Absolutely world class asset, and they are still drilling .... wonder why?
 
They are betting on a long term uranium price of $70/lb, v the current $45, and an average life of mine cost of $41. Sounds marginal in the current climate - will, or when will, the uranium price return to a viable level?
 
Yeah, thanks guys, I eventually picked up the opex issue.

Man, this thing is tanking faster than Carlton in pursuit of a priority pick. Its down to $0.86 as at 3.15pm - almost 30% down on the day - with half that drop coming in the past half hour ...
 
WRONG'UN said:
They are betting on a long term uranium price of $70/lb, v the current $45, and an average life of mine cost of $41. Sounds marginal in the current climate - will, or when will, the uranium price return to a viable level?
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I think that the contract price for U3O8 is usually much higher than the spot price. Probably $70/lb is a reasonable long term contract figure - although maybe the increased demand which have been hearing about for years will actually happen.

I seem to recall an earlier BMN study which suggested costs would be $28 per lb - so there has been a significant increase in cost estimates. Note that Trepkoppe is viable at much lower grades.

Still as Kennas says there is a lot of potential exploration upside. What happened to Swakop River and Botswana??
 
Down 27% - ouch! Very frustrating! Probably related to the fact that one of the newsletters that covers this stock put out a stop loss sell on this one today, so that probably added to the fall!
 
eddyeagle said:
Down 27% - ouch! Very frustrating! Probably related to the fact that one of the newsletters that covers this stock put out a stop loss sell on this one today, so that probably added to the fall!
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That didn't have any impact.

The stop loss was at $0.85, so the SP had already fallen more than 25% before it even hit it.

Also, they didn't notify readers that it had been triggered until after the market closed, so unless readers had automatically set their stop loss orders, if this is to have any impact it will be more selling pressure this morning. :eek:
 
I tried for a bounce trade today, but closing so close to the low really put me off.
It was good to see about 300K of shares snapped up at the close though.

Hope the directors are buying at these levels:)
 
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