It has subsequently been discovered that the takeover bid for Bannerman by Hanlong was an insider trading scam:
"A statement of facts tendered in court said that without Sichuan Hanlong's permission, Mr Xiao and Zhu made a highly conditional proposal to Bannerman Resources in April 2011. They didn't expect it to be accepted but it enabled them to embark on insider trading."
Nevertheless, I have also recently invested because I feel that BMN is ripe for a takeover. One way of looking at it is that with a market cap of less than $30million, a reserve of 119mlbs and a breakeven point of $60/lb, a takeover suitor would essentially guarantee its supply of uranium for at least 16 years at a cost of less than $61/lbs ($60/lb + ($30m/119mlbs)) simply by taking over BMN. And this does not include further upside from inferred resources and additional exploration upside.
BMN Price at posting:
9.2¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)