BMN 8.66% $3.27 bannerman energy ltd

any action happening at bmn?, page-2

  1. 1,381 Posts.
    I would suggest very few activities are occuring on site beyond more of the same.

    They went into capital preservation mode after fukushima. Their core focus as I understood it was

    1) JV partner or equivalent
    2) DFS & model refinement
    3) Mining license

    That order might not be quite right but I think what it comes down to is they think they have enough for a mine.

    Exploration wouldnt add much unless they happen to find a very high grade deposit. Having more of the same lowish grades would not help them fund the mine.

    Spending your last millions chasing a deposit which may not exist could result in the company being wound up or being forced into a cap raising at bargain basement prices.

    Thats why I believe they went into capital preservation mode. To try and hang on for long enough to do the next CR or to seal a JV/buyout.

    I wont be jumping in until the CR is done or something material changes.
 
watchlist Created with Sketch. Add BMN (ASX) to my watchlist
(20min delay)
Last
$3.27
Change
-0.310(8.66%)
Mkt cap ! $499.8M
Open High Low Value Volume
$3.30 $3.40 $3.23 $6.799M 2.065M

Buyers (Bids)

No. Vol. Price($)
2 24450 $3.27
 

Sellers (Offers)

Price($) Vol. No.
$3.28 20000 1
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
BMN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.