I'm not on the downramp merely stating it how I see it. I just...

I'm not on the downramp merely stating it how I see it.

I just cant see how anyone can think of the hanlong bid as a serious offer when both the people responsible we're both done for insider trading in the way they were, and as was well documented hanlong did not have the funds to go through with it, AND the BMN board dismissed it as not being serious.

Its easy to kick the tyres like that when you dont have to pony up the cash. Just refer to the guy who faked a takeover offer for DJ's. The only difference is these guys had more credibility because of the umbrella they operated in.

If the CEO had a get out of jail free card that enabled them to not proceed with the offer, there is no incentive for them to admit to it being bs.

If you go back far enough i have been one of its defenders for some time, but lately I dont think its looking too crash hot with Peter Kerr bailing out voluntarily. To me it is a sign that he couldnt see the light at the end of the tunnel relative to the opportunity at his new job.

At the moment I would say there is no realistic plan to establish a mine or explore for more prospective grounds. Certainly none I have read anyway. Also the uranium price heading back to the 40's is not at all what BMN needs with its top heavy management.

Aside from that, I think BMN still has some merit given the development work, the only question for me is can they go into hibernation for long enough for the uranium market to turn or identify a white knight.

At 3c they become a no brainer buy just because they will have cash backing roughly equal to their market cap. For me that should be the absolute floor price in the next 3-6 months (assuming no more fukushima style events).