Australian (ASX) Stock Market Forum

BMN - Bannerman Energy

Jump to new
kennas said:
It's tripped in 3 months....concerning.

Touching bottom of B Band....just about oversold.....

If I was in at $0.30, I would have taken profits at $0.60, $0.90 and $1.20....

Hard one to pick now......could do anything...

That's my sage advice. :confused:
Click to expand...

Well i bought in quite early. In my mind this is a hold. People would of taken profits long ago if they were me and wasn't looking at the long term.

They have the best ground in Namibia. They have an existing deposit being Goanikontes which runs along the strike of Rossing. Their Elpse channel is an extension of the Langer Heinrich channel.

Did you read the research report Kennas? This is your time to get in. They will raise money probably at around 90-1.00.

If they bought 20 million shares onto the market they will get 20 million dollars to fund their drilling. Great position for a uranium stock atm.
 
Apperently there will be an announcement made soon about a delay in drilling due to difficulty in securing a rig. I bought in early in the 30's and topped up in the 80's so I'm not worried in the least. The medium to long term prospects are unchanged, I'm still hoping for $5 in one to two years :) I'm just debating whether I should buy more at these prices, don't think it'll go much lower, should hit $1.50 once drilling results start to filter through. I'm just short on cash lol :(
 
Hey Matt,

Its a good buy atm. My holding is large enough for the time being. If I had a stack of cash I would buy more. Thats not the case. Im pretty confident with this stock. The Carmichael report was a good read.
 
hmmm looks like there could be some good news on the horizon? Volume and SP is increasing..Or am I just hoping for good news. I still think they were a deadset buy at a dollar.
 
Hitting all time highs today..on no news..looking very strong to break out..one decent bit of news will push it well through 1.35
 
Hi Chris, how does LOU look to you as a younger BMN. Maybe oil and/or gas funded as well an low market cap. Bit similar to BMN going back a few months.
 
Yeah Ive been watching them.. They look good..I dont hold but my dad does. Too bad I couldnt pick any up at 10 cents before they went on a run. Still cheap atm. I would buy them but the cash factor comes into play.
 
The $1.60 forecast by Carmichael is getting closer.. $1.425 still on no news. They have been aircore drilling the elpse channel which is an extension of the Langer Heinrich channel..maybe they have mapped out some good mineralization for diamond drilling.

Its anyones guess..or maybe they are just going up on expectations.
 
DRILLING COMMENCED

3,500m Diamond drilling programme at the Goanikontes A
9,000m Air Core drilling programme at Swakop River.

GEOPHYSICS REPROCESSED
Extensive highly U anomalous stratigraphy identified for over 37 km at Welwitschia.
Radiometric anomaly uncovered at Swakop River within the Elspe channel.

It is very important that they have uncovered a radiometric anomoly within the elpse channel. They believed it was under the surface.

Is that image in the activities report above the statement "Uranium oxides on fracture plane within GOADH0010, 134m depth" from their first drill????
 
Hmm wow that image is from the first drill core...some nice yellow in that image. Might see Bannermans SP rocket again tomorrow.
 
chris1983 said:
Alfguy..did you get in?
Click to expand...

NO! :banghead:

This is the second time a broker friend of mine said BMN was gonna be big and to get in. Firstly around 30c and then again at $1. Why oh why didn't I listen.

Still think there's more to go, but psychologically, it feels a bit expensive! :eek:
 
Well I also sold a small portion..maybe I shouldn't have..cant complain when you make a profit..but mate..im not touching them anymore. Im gunna lock my nice holding away in the corner. Bannerman are following the tracks of Paladin. People might say I'm pushing them for something way too big..but it seems that way to me.

In their activities report they show an image of the "Exposed ‘E-type” Alaskite about 3km north of Goanikontes Anomaly A (car for scale)" They are only Diamond drilling the Anomaly A atm.

They also explain the different types of Alaskite. See below.

"There are a variety of alaskite types identifiable in the region in the high strain zones associated with granitic domal features. The alaskites are classed as ‘A’ to ‘F’ types with classes ‘D’ and ‘E’ recognised as being the host to significant uranium mineralisation in the district. These are easily recognisable in the field and in the core. Accordingly regional geological mapping and reconnaissance of the prospective horizons identified from the geophysics will commence during the forthcoming quarter to identify future drill targets."

This is just what is exposed on the surface within their Goanikontes license...and this isn't even taking the elpse channel into account which smothers the Langer Heinrich deposit.

Then you have the good news from their first drill.."Extensive widths of ‘D-Type” alaskite was encountered in the first hole and is due to be sent for assaying in South Africa by the end of this week." and they make it known with a nice big image to prove they have something. I'm a true believer in this stock. Pretty excited to see whats going to happen now that they have got their drilling program in full swing.

They are progressing all the time and in my mind are still a buy..but its hard to buy now knowing that you could of got them cheaper earlier I know..anyway goodluck Alf. If they do fall I would give it some serious thought to entering.
 
Lets put the key points out below for people to see. This is from the latest Carmichael report. I’ll draw some comparisons with Paladin Resources.

KEY POINTS
Uranium price has increased by 258% in just over two years
After 2010, uranium shortages are forecast to be acute
BMN have two advanced Namibian uranium tenements totalling 1,313km²
Goanikontes prospect has a 10 to 200Mt target at 0.02 to 0.05% U3O8
Swakop River tenement surround Langer Heinrich deposit on three sides
Three early-stage uranium tenements in Botswana totalling 2,308km²
Several projects may have JORC Inferred Resources within 12 months


Paladins Resource

Ore Reserve Estimate 32.2Mt of ore @ 0.07%
(Measured & Indicated) (22,200t U3O8)

Total Inferred Resource 40Mt of ore @ 0.06%
(23,800t U3O8)


Now what I find interesting is where they have the Goanikontes prospect alone at 10 to 200 Mt at 0.02 to 0.05% U308. Lets say they have 100 Mt of Ore at a low grade of 0.03 to keep things conservative. If you work it out that is 30,000t U3O8

No one really knows how much Ore they have..its all guess work..but from some of their images etc I think they have a lot which is why it was estimated up to a potential of a 200 Mt target

It looks extremely healthy when we havn’t counted in their Swakop river tenement (tenement smothering Langer Heinrich) and we also havnt counted in things such as the "Exposed ‘E-type” Alaskite about 3km north of Goanikontes Anomaly A (car for scale)" Which has an image in their last activities report(I have attached it below). Add their Botswana tenements into the mix as the icing on the cake and we have one healthy looking company.

I have also posted an image from the drill core of their first drill. Description in the latest activities report is "Uranium oxides on fracture plane within GOADH0010, 134m depth."

They are still hitting very visible uranium at great depths! We still need more drills to happen but its a great start IMO.

Okay enough of my talk..im waiting for any Criticism on what I have said. This is only my thoughts people.
 

Attachments

  • alaskite.jpg
    alaskite.jpg
    50.6 KB · Views: 121
  • uranium.jpg
    uranium.jpg
    57.6 KB · Views: 119
This has got to be stock of the year, surely.
Chris, well done once again, you're a champion :D
What did this start the year at, was it 10c? thats beautiful....
 
Thanks Nizar..im no champion though. haha :) I still think Bannerman have a fair way to go. Need the current drilling to be positive but it looks as if things will pan out that way. If GDN fail on me tomorrow that will be the biggest flop of the year too.
 
this stock never ceases to amaze me...
great work for those holding it..
and chris thanks for the regular updates too...

i have no idea what the SP is valued at, but whilst its galloping away, i am hanging on for the ride...
 
Top