excellent location

Buying value relative to similar companies is normally recognized by the market.
BMN 80% owned EPL 3345, Etango Project is located 6.25 Km from the North East boundary of the largest granite hosted uranium mine in the world, Rossing which commenced production in 1978 & is owned 69% by RIO.
“The stratigraphic trend which hosts the Rossing Mine is interpreted to extend into the centre of EPL 3345, highlighting the highly prospective nature of the tenement.” (Page 60 February Summary on Etango Project by Coffey Mining Pty. Ltd. Released as ASX announcement )
EXT with a MC of over $900m has the Husab Project with higher grade u308 than Etango & now RIO involvement lies between Etango (EPL3345) and EPL 3346 (Langer Heinrich owned by Paladin Resources).
Given BMN MC is approximately $140m while Forsysa Canadian listed company is being bid for at $757m by George Forrest International Afrique for its Valencia Project which has significantly lower grades & resource than BMN, it would appear BMN represents good value compared to its peers.
BMN ASX announcement of 12/2/2009 also had the following quote:”Deposit is open along strike and at depth, and further resource updates are expected in2009”.
BMN has also boasted its management experience by appointing Len Jubber as CEO, who spent 8 years with Rossing Uranium, the subsidiary of RIO which operates the world’s largest open cut uranium mine at Rossing (Fat Prophet Report Nov 2008).
The mind can only speculate what price BMN could be if RIO & its partners also want to take an interest in BMN now that Rossing is an ageing mine after being in production for over 30 years. Just check how close the boundary of EPL 3345 is to Rossing Mining Licence (6.25K from boundary & the Rossing Open Cut located 20Km to the North East).
Certainly BMN is worthy of further research.
Regards
Buffett