As an early investor into BMN prior to the share split this stock was an amazing pick during the uranium boom (Just like many other uranium exploration companies). The profit margins looked great..everything was going great guns.
Then the uranium price fell..feasibility studies came through with higher than expected opex costs..then opex costs increased again..then we had the issues in Japan.
If you saw the signals it was a sell when OPEX continued to rise and uranium price was falling. It was also a sell when Extract hit a brick wall in share price. Extract had a superior resource and even they couldnt move higher.
When the feasibility came out and the opex/capex start to get too close for comfort to determine if the operation can actually pull in a profit then why hold? Especially when you know CAPEX aint going to be small. I sold..I advised everyone I took my free carried holdings out and moved on. You never just sit and wait and hope. You take your destiny into your own hands.
IMO if your still holding BMN it is time to exit the stock market. Anyone still holding back from the days of the uranium boom have no idea. Also anyone entering the stock in the "hope" that uranium will rise should quit. This could take years. When the price of uranium actually starts to turn then come back to plays like Bannerman if they are still around.
There are so many better plays on the market atm.
Good luck people.
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