Australian (ASX) Stock Market Forum

BMN - Bannerman Energy

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BSD said:
Uranium is a very common substance I would add.
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Yes it is, but my understanding is that it is a problem getting it in sufficient concentrations to make extraction commercial, which may be around 200ppm. You can also find gold in sea water but same deal, not concentrated enough to make it feasible.

BSD said:
Also its in favourable areas which allow u mining. forget u mining in Australia- just heaps of delays, bureaucratic bulldust.
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Sounds right. I saw BMN hit a profit stop last week but immediately bought back in and don't have a stop any more! I hold BMN, PDN and SMM, having seen AGS and DYL go when it hit my profit stop. I didn't buy back into DYL, I think it is going to be a market cap issue and I figure I have exposure to DYL anyway with my PDN holding. The problem with SMM is not only have they got their U in Australia but it is in Qld, with anti U currently. Now that may change in April when Labour has its conference, and it probably will, but this adds another uncertainty. I would rank my SMM very hopeful. Would rather have the U in Namibia with its pro mining government to reduce that risk.

If labour does change its U policy then we still have the Greens, not a major force but now there is a buzz that certain elements are likely to demand banning coal exports! Rather have Namib, thanks

My summary - BMN is the likely one in the U hopefuls to make a go of it.
 
BSD said:
I think it makes more entertaining reading than one line blurbs offering massive price targets with limited reasoning.
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I’m guessing this is directed at me but if you read the entire thread there is reasoning all throughout. If you can’t attempt to work out a resource based on the information you have that’s good. I’m just different and like to have an attempt at what they may have and I always use the word “may” or “potential”. You have stated in your post

BSD said:
Personally, I like to buy between Pre Feasibility and Bankable Feasibility - with the view to holding for production.
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Well that’s where you and I are different. Go read the Erongo Energy thread. You probably wouldn’t touch that stock with a 10 foot pole with the stage’s they are at right now. I have a nice holding in them and as they progress their projects in Namibia which I’m pretty sure they will do I’ll be the one reaping the rewards from the early stages.

You attacked me for saying

chris1983 said:
But anyway back to Halba's comment..you think BMN could be a prime target for takeover? They better take them over now then... before they get a chance to drill the resource out. The SP will be 10 bucks by the time someone comes in and makes an offer.
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Now I say they better take them over now before they get a chance to drill out the resource and yes BSD as they progress their projects such as the Goanikontes prospect I am hoping for a $10 price target. As long as they continue to map out a large resource and bring it to a JORC compliant resource then they can start looking at a BFS. Bannerman have 80% interest in their EPL’s.

Halba said:
Proof of BMN's resources:

Anomaly A has been
outlined in over 250 historic drillholes and has two zones with strike lengths of at least 1.4km and 3km each.
The mineralisation has similar grades to Rossing and Valencia. Some of the more significant intersections from
these programs include:
• 50m @ 0.0457% U308
• 45m @ 0.0393% U308
• 46m @ 0.0443% U308
• 23m @ 0.0541% U308
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Some additional grades below.

Section 126 of Anomoly A reported grades of

Better Drill Intercepts;

23m @ 541 ppm U3O8
50m @ 457 ppm U3O8
46m @ 443 ppm U3O8
44m @ 436 ppm U3O8
23m @ 397 ppm U3O8
45m @ 393 ppm U3O8
60m @ 269 ppm U3O8
62m @ 260 ppm U3O8

Extensive area >5km by 300 to 800m wide. Up to 60m thick.
Mineralisation to 200m+ depth (extent of drilling).

Plus in the recent drilling results they had confirmation for depth extensions to the resource hitting uranium at 300 meters plus depth.

Anyway that’s enough from me. Day out with the misses. Have fun all.
 
BSD said:
Uranium is a very common substance I would add.
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That's true. Uranium can be found is most places. However, the question remains whether most of those places have sufficent quantity to make an economical mine.

I think earth as we know it has sufficient Uranium to service the demand in the long term. However in the short - medium term, there just hasnt been enough activity in the past to supply the demand.

Which is why it is critical to pick an explorer that has a very REAL chance of mining within say 5 years. BMN fits this bill if they put 110% into Goanikontes, which they seem to be doing.

I'm definately not one that will be holding onto U stocks for the next 10-15 years. Things happen in cycles....and its U's turn :)
 
mngmt is in africa right now trying to fast track the drilling/receipt of work. They have admitted it is slow in Africa- however the approvals are not. Royalty is bugger all, and taxes low. Capital cost for developments are 1/5 of that in Australia. The likelihood of blowouts are lower. The labour is more available. Its open pittable. I wouldn't bother with MTN and the lot, they are going to take a lot longer than BMN!!

I am thinking of allocating further $$ from my fund into bannerman. Its simply a stock where you simply will never have enough of. I have plenty of free funds from sales of other underperforming shares, nearly 15-20% cashed up now in this market.

I don't know blue chips and never been good at picking them.
 
He probably refers to selling his underperforming dogs like BLR, NWE...you know those that only gain 500% instead of 1000%.....
 
IF YOU BUY URANIUM THEN UR GONNA NEED TO INVEST IN SLA....when Cheroble blew up, most of the crew used a cream supplied by them (SLA), the ones that diddn't are dead, the ones that did are actualy able to say they are glad they did......and that's not the only good thing about this company.....rampramp....what's better than uranium....the cure.....lol
 
Today 's announcement by FN Arena (BrokersCall) that ERA & PDN have been revalued at $44 & $16 .
The market reacted with accordingly.....ERA was up 10% plus.within an hour of opening

This adds support to Chris1983 opinions ( and mine ) that BMN will 'catch up' to Paladin within 2 years( presuming drilling results O.K.........& I reckon $10 a share is now conservative.
Now I will never regret putting most of my eggs in one basket .I bought nearly 200,000 BMN mainly based on 'historic drilling results '& also surrounded Paladins mine & close to RIO etc..
Remember that I'm the 'mug' that sold 250,000 PDN for 20 cents.... about 4 or 5 years ago.
That's why this time I'm not selling off.I believe (or, like to believe ) that BMN is another PDN.
However I do always 'trade. approx.10 % of my shares'.... ie...every time the M.A.C.D gets well above the 'trigger signal' & R.S.I. starts to drop down to the 70 level .I sell off 15-25,000 & try to buy back at 15-20% less.

Trading live on'Powertrade' can be a lonely isolated profession & now that I'm a new member it's great to read all your opinions & rhetoric & theories about uranium & bannerman in particular.
captjohn
 
yes i know ppl that make living trading on 1 company - their focus is on one

bmn is a pretty good one

i think valuing era at $44 is ridiculous, as BHp's olympic dam would then be worth $100bn under those assumptions
 
I wish I had enough money to afford 200,000 Bannerman :) haha.

Good luck CaptJohn..I dont think you need any luck and I'm pretty sure you'll be a winner on your investment..but you have got to have balls to put it all into one. If you make the cash..you deserve to make the cash for making that choice.
 
yeah thats a lot of money in one stock, i have about 20,000 bmn

LOL one tenth but i'm slowly catching up

i've cut a lot of my other stocks, most of my portfolio is BMN and DMX
 
Halba said:
yes i know ppl that make living trading on 1 company - their focus is on one

bmn is a pretty good one

i think valuing era at $44 is ridiculous, as BHp's olympic dam would then be worth $100bn under those assumptions
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Thanks for putting this into some type of perspective Halba. Valuations will catch up with value at some point. It ´s still hard to see the true value of BMN without a JORC.
 
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