BMN 3.15% $2.95 bannerman energy ltd

check this out, page-39

  1. 13,667 Posts.
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    I think this is more what Savanna are looking at.

    "73. Applications for amendment of exclusive prospecting licences.

    (1) Subject to the provisions of subsection (2), the holder of an exclusive prospecting licence may apply for the amendment of such licence -

    (a) by the extension or reduction or the extension and reduction of the prospecting area to which such licence relates; or

    (b) by the addition of any mineral or group of minerals to which such licence relates."


    When looking at the announcement from Bannerman..Savanna's main priority is

    "1 An order reviewing and correcting or setting aside the decision taken by the Minister of Mines and Energy in Namibia to grant Bannerman Namibia Licence EPL3345 with exclusive mineral rights for the nuclear fuel group of minerals over the area covered by Savanna's EPL3045;"

    They obviously believe they should be able to apply for additional mineral groups on which their current Dimension stone EPL relates to. Thats why they lodged their application for nuclear fuels 3 months back but the minister didnt even look at it hence they are now taking it to court. EuroTravelover...if the reason for court action was in relation to the section 69(2)(g) then I think we would of been in court a long time ago(Early 2006)..not at a time when Savanna's license is currently back into a "pending" state. Makes sense. Anyway why would the minister bother looking at their nuclear fuels application when the area has already been granted to Bannerman. They are trying to manipulate the current ACT. They are trying to say since they have a previous EPL for Dimension stone..they should be considered for Nuclear fuels if they apply for it. If this ever went through there would be huge problems..its not going to happen. Just say another company had a Dimension stone EPL on Uramins trekkopje license..they could possibly also apply for nuclear fuels? lol. Savanna are just trying because they have no money and they are struggling for funding. They think they have found a loop hole in the act but to even try this means you have no brains. No wonder they havn't been successful.

    "EPL3045 held by Savanna only entitles it to mine stone known as "dimension stone". It is not entitled to explore for or mine any nuclear fuel minerals. Approximately 3 months ago Savanna applied to have nuclear fuels added to its licence. This application has not been dealt with and in the Company's view is unlikely to be granted.

    :) See they applied for it 3 months back when their license was going to expire. NO CHANCE. Sit back and relax guys..it will be fine. Im off to bed and Im on holidays soon so minimal posts from me.

    Have a good holiday season everyone!

 
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