dont be fooled by the long termers, page-2

thanks for the introduction Russell.

i am a long term shareholder, have been holding since 69 cents, through when Criterion and Warwick Grigor called sell at $1.20 in The Australian, through when the Captain Hook of chat sites Fishhead78 called it a dud at $1.50.

Now, of course, Grigor thinks differently because BMN has matured from a speccie to the only realistic up and coming African uranium producer on the ASX.

One can read many broker reports on the BMN website, including from Warwick Grigor. At US$90lb uranium price,Warwick Grigor has forecast earning of between $1.70 and $2.70 at full production (mid 2011), which is indicative of a $20 to $32 share price target at a conservative US$90lb uranium price.

Not one African company has the drill results of BMN or the resource quality.

A company director, Nathan McMahon, has spent over $300,000 over the past month buy shares around $3.60 in price.

In January, BMN plan to issue 100M to 150lbs JORC, increasing the existing Interim Resource of 55Mt @ 219ppm U3O8 or 27M lbs.

However, BMN is a long term proposition. A 100M lb JORC in January, may see $5 breached.

Therefore, long term holders have only sincerity.

I myself, never accumulate a stock, however BMN is my exception.

If one can buy between now and January at around $3, then I think that is an excellent buy.

Good luck.