The only real difference I could see between Bannerman and Marenica were the JORC.
Bannerman: 213 mlbs
Marenica: 139 mlbs
But the market cap of Bannerman is currently 100 million and the aquisition proposal from Hanlong values it at $143 million approx compared to Marenica's which is a piddly 23 million at the moment. With the new zone created and as these filter into the JORC, the stock will get a re-rating as it is highly undervalued and some of this is based on the overhang of the fukishima incident which the BGF report says alot is a media beatup.
They also say that there is no way that China will be changing its plans and they are too far down the road for alternatives or the lights will go out and also that China is the most important country driving the demand for nuclear power/uranium and so the revival remains intact.
So on that note it looks like as the news keeps coming through we should see a steady rise in the share price considering where the share price came from and also continued increases in the JORC.
The new zone looks exciting to me!!
MEY Price at posting:
4.4¢ Sentiment: LT Buy Disclosure: Held
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