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BMN - Bannerman Energy

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Don't hold BMN, but if you happen to arrive early, could you ask George of Image Resources when we can expect the first JORC on Cooljarloo and Cooljarloo North (only been drilling for a year without a resource!).
 
the barry said:
http://www.haywood.com/pdffiles/BANFeb122008.pdf

Report from haywoods in canada released today. More reading on what everyone knows already. Note that valuations are in canadian dollars.
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Nice detailed report, but as you say, just rehash. For anyone new to BMN it's worth a read. 100% return in a year? Hmmm, let's wait and see. I was comforted in their assessment of the litigation brought by Savanah. We need that monkey off our backs to ensure the Rossingburg anomalies are in the picture. Savanah's EPL looks to cover them. Technically, we could have seen the end of a W5 down last week finishing around $2.30. A higher low and high would be nice to get it back on track...
 
Oooh not a good day for Bannerman

Could be heading for support at $2 unless we have a good turn around tomorrow.
No idea whats driving the price down
 
Hi Nuke

I thought BMN was slowly making its way up and then today it was sold down. I watched some of the action and there was someone accumulating small amounts of stock (lots of 50 and 100, maybe 150s as well). I didn't tote it all up, but it must have been a broker, or else who'd be crazy enough to buy in small lots? The share price was manipulated today. There probably has to be the right kind of psychological situation for this to work, and, I guess, with the lack of news yet awareness of the value of this stock Mr Manipulator picked his moment.

This kind of broker interest is actually a positive!

DYOR - I hold BMN.

Cheers

Taurisk
 

Well, that support at $2.25 was broken yesterday and there are a fair number of players lining up to buy around $2.10-$2.12, plus more wanting to get in at an even $2. I'm not prepared to buy in yet (I got out for a loss at $2.60). Anyone have any idea how much this downward trend has to play out? Maybe it won't end at least until the next positive announcement?
 
Go Nuke said:
No idea whats driving the price down
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panikhide said:
Well, that support at $2.25 was broken yesterday
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Pretty ugly isn't it.

I think the fall is linked to:
U sector in the dog house.
U price falling.
Resource upgrade and likely final resource at AA well under some expectations.
Idiots ramping it too heavily.
Litigation proceedings from Savanah.
Takeover appeal reduced due to Exemplar focus.
Punters holding cash in the bank instead of taking risks.
The stars aren't aligned.

I hope the fall isn't to do with anything too sinister.
 
The stars aren't aligned
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LOL

Actually i'm keen to know which resource they are going to drill next!

They say they have bigger and better to come in their presentation, so I'm just dying to know whcih one of their many anommolies they are going to drill out next.

I admit the topic of Nuclear power has died off but Ive still no doubt that it will be pushed as a more environmentaly friendly power source than fossil fuels in the near future.
Its not perfect, but hey if we want to save the Barrier Reef we have to stop using fossils.

Go Nuke!
 
Go Nuke said:
LOL

Actually i'm keen to know which resource they are going to drill next!
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They'll deploy to both Rossingburg and Ombuga South, I imagine. Couple of rigs at each site scouting to determine which to then prioritise for the next resource. They may also put a few holes into Oshivelli and Ombepo for interest sake. Maybe Ompo too which is the highest tenor airborne radiometric anomaly...Would be nice if they could jag an EXT type of intersection in the early exploration drilling. Would change the sentiment a bit I think.
 
eddyeagle said:
I'm hoping Bannerman finds support at the $2 mark but if it falls through that, it could hit $1.50...
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eddy, you need to provide some more detailed analysis for that here. For example, a chart, or reference to support, or FA valuation....

Cheers,
kennas
 

I was hoping that they would have skipped the interim resource upgrade for the reason you state, however having said that with the delays for the final resource that wouldn't have been justified.
Would have thought though with the crap drill results that exemplar bought out that they possibly may have gone back out from under the takeover spotlight until they shore up some better drill results. I still think rio is more likely to go after bmn due to the synergies involved.
This price is going to drift with the market I think until the final resource is delivered some time in june. No light at the end of the tunnel for a while.
 
Trading halt - appears as though the equity raising in canada has been completed. Share price seems to have been held around the 2.20 mark of late, will be interesting to see whether the cap raising is at that level.
 
taken from TSX site.

Bannerman Resources Announces Equity Financing
16:14 EST Monday, March 03, 2008


TORONTO, ONTARIO--(Marketwire - March 3, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION INTO THE UNITED STATES

Bannerman Resources Ltd. (TSX:BAN)(ASX:BMN) ("Bannerman" or the "Company") announced today that it has filed a preliminary short form prospectus with securities regulatory authorities in Ontario, British Columbia, Alberta, Saskatchewan and Manitoba in respect of a public offering of ordinary shares (the "Offering"). The Offering will be conducted through a syndicate of underwriters, led by Haywood Securities Inc., and including GMP Securities L.P., Cormark Securities Inc. and Thomas Weisel Partners Canada Inc.

The Offering will be priced in the context of the market with final terms of the Offering to be determined at the time of pricing. Bannerman plans to use the net proceeds from the financing to develop its Goanikontes uranium project in Namibia, other exploration costs and for working capital and general corporate purposes.

Trading in Bannerman's shares will be temporarily suspended on the Australian Stock Exchange pending finalization of the terms of the proposed Offering.

The Offering is subject to certain conditions including, but not limited to, the entering into by Bannerman and the underwriters of an underwriting agreement and the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the Australian Stock Exchange.

The Offering is expected to close on or about March 27, 2008.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and these securities may not be offered or sold, directly or indirectly, within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and any applicable state securities laws unless an exemption from registration is available. This news release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.

About Bannerman

Bannerman Resources Limited is an emerging international uranium producer with projects in Namibia and Botswana and an interest in a license in Australia. The Company's major focus is on the exploration and development of a uranium project in Namibia.

Bannerman is currently focused on accelerating the development of its primary asset, the Goanikontes uranium project located in the world-class uranium country of Namibia and situated on a trend southwest of the Rio Tinto Rossing mine. A bankable feasibility study is planned for 2008 with production planned to commence in 2011.
 
A few ways to look at this I suppose.

1. Once finances are sorted in this environment it removes some risk for an explorer/developer. Good.
2. Having greater exposure in another market which is resources heavy adds to the shareholder base. Good.
3. If they get it fully filled by the public, good. If it's not filled bad, but the underwriters will pick up the slack.
4. While this has always been the plan, I'll be disappointed if it's done at a discount to the current price and Australian investors, who have propped them up, do not get the chance to participate.
5. If it is done at a discount, the sp could move either way depending on market sentiment at the time. Up is down and down is up at the moment.

So, best guess from me is it could go up down or sideways immediately after depending on the weather and alignment of the stars.

 
Hmmm $2 eh.

Thats a shame.

Thats more than I paid for BMN over one year ago now.
The last lot offered were at about $3 weren't they? Of course they couldn't do that now because of where the sp is today.

As you said Kennas, people like me/us have proped BMN up for the last year

If I had the money I would buy up at $2.

Oh well. Least they will be cashed up and todays market liked it.
 

Not a huge difference, but that is $2 Canadian, or $2.17 Australian. Up over 4% on an otherwise awful day, must be a good sign for BMN.
 
Go Nuke said:
If I had the money I would buy up at $2.
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It's a Canadian only offering so you wouldn't be able to buy any regardless.

I don't have a strong feeling either way but the share price seems to have reacted positively.
 
At least the raising is fully underwritten and there are no incentive options, or shares offered at a discount to entice buyers. Could be seen as a positive and has stopped the share price decline for at least one more day.
 
the barry said:
At least the raising is fully underwritten and there are no incentive options, or shares offered at a discount to entice buyers. Could be seen as a positive and has stopped the share price decline for at least one more day.
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I've thought $2.25 ish was the bottom. Obviously it's been a bit lower intraday and hovered underneath it, but not too far off. Still waiting for some higher lows and highs to look at buying any more. Still concerned about the various risks associated with any developer. This financing is a step in reducing one over the next year. Need 100m lbs to be shored up now, and U to regain a footing. Let's hope a black swan doesn't land in the pond to skittle us.
 
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