blatant capping, page-32

Mucfreds

I have never said the company "could not move on" unless it was resolved ... you might have me mixed up with someone else.

I have however, a few times listed Savanah as one of the "negatives" that have impacted the BMN share price.

So, why do I say Savannah is a non-issue?

Well I say so because Savannah alone was not responsible for the fall in BMN share price. Many mistakenly feel now that Savannah is holding it back. I say not! I reckon it is already factored in, and that the recent strong buying in BMN from 22 cents to 60 cents, is an indication that buyers consider the risk/reward ratio to be attractive.

I think that anyone with a bit of reasearch ability, and thinking ability will have come to the conclusion that Savannah are clutching at straws & will lose ... it just needs due process, which takes time.

ITM, BMN keep working on Etango, drilling, BFS, etc etc moves to completion. We will soon enter regulatory phase, off-take agreement time, developement time. BMN will become hard to ignore!

I think that many investors have moved from the negative mindset, and with the improvement in the U price, activity with PDN, EXT, and a number of overseas players, now see BMN as a bargain, offering excellent leverage potential.

So at this point in time, at these low prices, with world markets improving, and with the U sector starting to firm, I reiterate that I reckon Savannah is a non-issue relative to the above. Now if BMN were to move up in price and trade betwenn $1.50 - $2, then we would find the Savannah issue getting heavier, and would want to see it removed.

Hope thats understandable

cheers