developments so far in 2008

Hi guys

I have been wanting to do this for a week or so. Just to synopsise all the positive developments in BMN since Jan 1 2008.

Back then BMN was trading at $3.60, basically waiting for the JORC to come out. The fall since then is history. So what have we seen occur in the interim?

Jan 20 - Anom A JORC resource increased to 72.2 Mlbs U3O8. A very conservative update, although the market wanted more, it is nevertheless of good size, and we all know that it will exceed 100 mlbs.

Feb 5 - Appoints Peter Christians as Chief Operating Officer. What a great coup!! A Namibian born mining engineer, more than 23 years experience in mine planning and design, previously with AngloGold Ashanti as Mine Planning Manager, has had postings with Gold Field’s in Africa, and Kennecott in the U.S.A. More significantly, he has had 10 years at Rio Tinto’s Rossing Mine.

Mar 5 - Raises C$21 million through a fully underwritten capital raising to Canadian investors. No immediate benefits, but the medium-long term benefits are & will be immeasurable!

Mar 19 - Appointment of David Tucker as a new director. David Tucker adds vital experience to the board. His career in the mining industry spans 39 years including stints as exploration geologist the in the uranium sector with United Uranium NL, Noranda Australia, the Australian Atomic Energy Commission, and Esso Australia Limited. He has also held executive positions for Homestake Gold Barrick Gold.

Mar 25 - A total of 320 RC holes were completed in the pattern drillout for approximately 90,000 metres. Many more assay results continued to be received and confirm the excellent widths of the mineralised alaskites at the deposit. All grades returned were higher than those reported in the resource upgrade.
* Further exceptional drill intercepts returned;
78m @ 216 ppm, 74m @ 413 ppm, 71m @ 269 ppm, 69m @ 293 ppm, 60m @ 369 ppm U3O8.

Apr 3 - BMN formally admitted to the Namibian Stock Exchange - Confirms their corporate presence in Namibia, and allows local Namibians to become investors. A excellent tactical move.

May 1 - The first exploration program beyond Anomaly A produces nine targets identified from historic drilling and spectrometry results at the Rossingburg prospect. This resource has 4 to 6 kilometres of strike, with consistent grades over a 100m wide zone to a vertical depth of 150m, and is still open at depth.

May 8 - Announces the initial results of an exploration drill program at the Oshiveli prospect, confirming the presence of thick uranium bearing alaskite, results included 58m @ 260 eppm U3O8, 14m @ 391, and 7m @ 913 eppm U3O8. The drilling was conducted at the southern end of the Oshiveli alaskite trend where it overlaps the Anomaly A deposit and indicates that the the two deposits are in fact ONE LARGE one, and host continuous mineralisation over a distance approaching six kilometres.

May 21 - GRD Minproc appointed to produce the Bankable Feasibility Study (BFS) for the development of a uranium mine at Anomaly A. GRD worked on the Langer Heinrich uranium mine in Namibia, the feasibility study for Kayelekera mine in Malawi, and the feasibility study on the Bakouma uranium project in the Central African Republic. In Peter Battens words, the work of GRD "will accelerate the scale and pace of development at Anomaly A dramatically as we move from explorer status through to construction and major producer status."

Other - To date Bannerman have the following analysts who provide research coverage on BMN:

Argonaut Securities
Cygnet Capital
Cormark Securities
DJ Carmichael PTY Limited
GMP Securities
Haywood Securities
Hartleys Limited
Thomas Weisel Partners

During this time we have had 3 negative issues impact on BMN:
1] The Savanah nonsense
2] The "conservative" JORC
3] The Opes Prime/Nathan M problems.

The first is rubbish & will be tossed aside, the second was a disappointment, but is short term as the final JORC will be in excess of 100mlbs. The third issue is over.

So now we find ourselves 5 months down the track, we have had all of the above take place & we are on the cusp of BMN becoming the next world class uranium producer, and what do we have? The BMN share price DOWN from the $3.60 mark on Jan 1 to around $2.00 now.

Sad for those buying on the highs, short-term holders, those on margin, and others that got stopped out. But as for myself I look at the above & just want to go out and buy more!!!

:)

cheers



.