BMN 1.57% $3.14 bannerman energy ltd

I would suggest very few activities are occuring on site beyond...

  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.
 
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