too many u mines in namibia, page-19

Hi Captjohn,

Yes the falling U price is not helping BMN. However ERA rose 4% today and PDN was basically even. It seems BMN is having more than its fair share of falls lately .. maybe making up for holding up better than most U stocks.

There just isn't any support for the SP and over the last 3 months the SP has fallen by $1.50 despite the cap raising. I think that if the U price falls further in the next weeks (which seems quite possible) and there is no good news announced (also quite possible) the SP will continue to fall and could be $1.00 in a few weeks. (If you said a couple of months ago the SP would be below $1.50 you would have been derided by most posters on the BMN thread)

There are still lots of issues surrounding BMN and they aren't going away (U price & sentiment, power, sulphur, court case, water & environment, etc). I hold BMN and haven't sold any yet but without some good announcements I think the SP will continue fall.