106.6 mlb u3o8 jorc resource at goanikontes a1

Hi

Some of the more recent posters have not done their research into BMN. What’s more the recent resource upgrade from 78 mlb just after X-mas to now above the expected JORC resource of 100 mlb (see announcement of 5th August) barely rates a mention - to remind you:
It is a 48% increase on the January report.

The only thing focused on by posters is the share price, which is fair enough for traders; but please have a look at the resources sector generally; it is down and will probably not recover for a few months yet, if not to the end of this year.
Reason for languishing share prices generally: Large, but temporary glitch in financing abilities of resources companies, recession in the U.S.A. – but improving according to sky news this morning – most likely consequence of the U.S.A. recession is some contraction in China exports - it all equals lack of buyer interest.

While on the subject of China: it’s pretty obvious that their Central Government has put the brakes on the economy, at least for a while, mostly in order to get cleaner air for the duration of the Olympics, plus an attempt to reign in their speculators.

Returning to BMN: there is also a perceived threat from a two-bit company in Africa (Savanna Marble) that is trying to scavenge the spoils of others, but won’t have a chance, for reasons already discussed on this thread. BMN and Ministers from the Namibian Ministry of Mines have filed Affidavits, served them on Savanna and are now awaiting an answer. Savanna could drag this out by not responding for as long as possible; I don't know if there is a time limit on responding to an Affidavit. When they receive the response from Savanna, BMN can approach the Court for a hearing date. I believe this is just an opportunistic game by a small company trying to make a buck; they don't even have an office address. Take a look at ww.savannamarble.com

Re the slowing down: I, personally, don’t mind if the economic brakes are on for a while, even here in Australia. The pendulum had to swing back at one stage, plus it literally gives us more breathing time to get on top of perceived or real pollution problems world-wide. Some economic contraction will bring house prices down and people will learn to live with higher prices , making them ready for better energy solutions (atomic power is cheap, look at France, cheapest electricity prices in Europe).

And who’s ever heard of a share-market going up in a straight line?

This latest announcement by Bannermans yesterday (05/08/08) with a JORC-compliant resource upgrade to ~107 Mlb U3O8 has ticked an important box on my BMN score sheet; it is brilliant news, and there is more to come, the share price will eventually reflect this.

Cheers

Taurisk