Australian (ASX) Stock Market Forum

BMN - Bannerman Energy

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The high for the company was $1.34 just the day before its rise. It's still above that and the market is down 72 points so maybe some profit takers came in. They really need to do the 3 to 1 split though. Not enough shares on the market atm. A few sellers come in and it drops heavily. a few buyers come in and it will jump heavily.

I think the 3 to 1 split happens in september some time. They said drilling would begin in august though. After a few months things should be more settled.
 
So you think it will be a big week for Bannerman Matt? Do you think news is coming? Im expecting them to release that drilling has commenced. I can say one thing about Bannermans performance thus far. Last week Bannerman hit its high of 1.54 then pulled back to 1.36..which was on a day that the market was down considerably. It still didnt go below its previous high which was comforting.

It then continued to rise and closed at 1.48 by the end of the week. It looks as if there is some really good support for this stock. Things can change very fast but they look promising and are looking better every day. I could definately see us moving up towards $2 with some decent news. Then again with decent news the SP could go anywhere.

I'll just keep my fingers crossed..I wont be selling anytime soon anyway. Lets just watch them ride :) the ride is on the way up.
 
I reckon there'll be something about the drilling come out on Friday when the split happens. There was a bit of a dip today, but I think it should head back up to at least $1.50 by the end of the week IMO.
 
Yeah a few sellers jumped in. Just profit takers..there is no reason atm to sell this stock. If shares continue to be bought above its previous high of 1.33 im happy with that. A lot of people will be holding off to buy these after the split happens.

Still another month before things get settled with the split etc.
 
Short term profit was made on breakout through $1.25. Who knows what's next for this? Needs some news now.
 
News will come. Drilling will commence. I think that should be the first message. Then the share split will happen. If they go down I might pick some more up after the split or just sit on what I allready have. Depends if I have spare cash. I really have faith in this stock though. Everything takes time.
 
Bannerman Resources has released news in regards to the commencement of drilling and environmental approval. They will commence drilling around September 11.
 
Well the 3 for 1 split is in place. New code is BMNDA. I'm very happy with how things are progressing.

We are at new highs.

55 cents. The current ask is 60.

55 multiply by 3 is $1.65

The previous high for the company was $1.54
 
Company report is available, available from the ASX and probably the website but I havn't checked. A good summary of where the company is at and where it's going.
 
Okay as soon as I wrote that. They jumped to 65. This is just going to keep going. Has anyone looked at the elspe channel on the map. Its looks exactly similar to that of the heinrich channel..only bigger!
 
Finished at 67.5 up 10.5 cents (+18.4%)

Something brewing? Or maybe more people just becoming aware of this stocks potential.
 
Just a complete lack of sellers I think. There will be alot of interesting things happening with this one next month. I hold.
 
chris1983 said:
Finished at 67.5 up 10.5 cents (+18.4%)

Something brewing? Or maybe more people just becoming aware of this stocks potential.
Click to expand...


Fat Prophets buy recommendation at 67c out today
 
Yeah it seems that could be the reason for their rise.

It has given them more exposure to more investors. Up again on opening to 73
 
Below are some interesting comments on how precious water is when mining uranium. This is found off the website and article from the link below

http://allafrica.com/stories/200608030638.html

"However, where water costs are high, uranium mining can become costly and uneconomic, meaning that the mine would require a pipeline.

For example, the current pipeline to the Rössing uranium mine has millions of cubic metres of water pumped through it annually. The Langer Heinrich also has a pipeline to pump the precious liquid in order to mine the uranium."

I thought it was rather important to post the information above for people who dont know where Bannerman is situated. It is very interesting that if Bannermans Elpse Channel does contain large portions of uranium. Its hard to see where the SP could go. Drilling will commence in September. They will be right next to an existing mine being the Langer Heinrich mine and all the required infrastucture will allready exist. Why would they even bother commissioning another mine when there is one practically next to them?

Its also very interesting to note how close they are to Paladin. Now if Bannerman does find uranium in the elspe channel which I think is highly likely, a lot of talks I believe will take place between Paladin and Bannerman. It is interesting to note that earlier this year Paladin even posted Bannermans message under their own code. Now why would they do that?

I guess its all major speculation at the moment but I can see some future relationship definately forming between Paladin and Bannerman.

I'm wondering what the rest of you think. I bought into this stock rather early and its a long termer now. Lots of volume has been turning over in the past week and it seems to be picking up momentum daily.
 
I'll hold till the results are out. If they are good (which is probable) I will hold indefinetly as I can only see the SP rising.
 
Some good news for Bannerman this morning.

Its broken way past 75 cents which seemed to be a mini resistance point. Its up to 85 and its going to keep going.

Some profit takers could come in but they will also have drilling to commence in a week or two so I think its very possible they could break the dollar mark.

See message below.

Geophysical Processing Highlights Extensive Anomalies
Bannerman Resources Ltd (ASX:BMN) has received the processed geophysical data for its Namibian licences. Bannerman purchased the government geophysical data following the granting of the licences and reprocessed the information for the licences specifically adjusting
and modelling for uranium and the local geology and topography. The processing was conducted by Cowan Geodata Services, a Perth based consultancy with a wealth of African experience.

The results have exceeded the Company’s expectations, increasing the number of anomalies within the licence from the thirteen recorded anomalies to eighteen. The known mineralisation at the Goanikontes A prospect appears to be more extensive than previously thought and significant new anomalies have been identified elsewhere within the Welwitschia licence,
EPL3345.

The new targets identified lie along the contact of the Goanikontes Dome and within a structural unit not previously known about. The domal contact was a target for future exploration by the company, the north east trending structure was previously an unknown potential host for mineralisation. The geophysical results have in effect identified the next areas for exploration,
extending the known Goanikontes Anomaly A 1.5 kilometres to the north and identifiednumerous new areas north of the Swakop River along the Anomaly A trend. Of significance is the anomaly identified on the eastern contact of the dome. This anomaly is of a higher tenor than the signature of the Goanikontes Anomaly A. The southern end of the Goanikontes dome lies under cover and any potential mineralisation would be buried. Spot anomalies along this contact indicate mineralisation may be continuous around the dome nose under this cover. The eastern anomaly is located where the Alaskites are exposed in outcrop.

In all, the entire contact around the nose of the dome, over a total strike length of 14 kms, cannow be considered to be highly prospective for primary uranium mineralisation. At the Swakop River licence, EPL3346, the processing has highlighted the Elspe surface uranium anomaly. The areal extent of the anomalism is far greater than what was previously thought and crosses the Swakop River. The geophysical data will be used to define a soil sampling programme which is to commence immediately. Drilling planned to commence thismonth will test the Elspe anomaly and the anomalism seen against the licence border with Paladin’s Langer Heinrich deposit.

Drilling is planned to commence at Goanikontes next week and Swakop River the following week. The data has highlighted targets that will be investigated immediately and sampling and mapping programmes that will be commenced in conjunction with the current drill programme.

Drilling in Namibia is expected to continue until the end of the year.
 
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