Just released ... contains no new info, but two things struck me. While these have been mentioned in the quarterly, they are worth highlighting:
The Etango Project has now reached the stage, based on the amount and detail of work undertaken, where it is of demonstrably low technical risk. This aspect, together with its scale, longevity and location, underpins the strategic value of the Project.
I also thought this was interesting: "Mining Licence Bannerman lodged a mining licence application for the Etango Project with the Namibian Ministry of Mines and Energy in late 2009, with the application based on the Company�s December 2009 preliminary feasibility study. Bannerman continues to liaise closely with the Namibian Government regarding the grant of the Mining Licence.
As reported previously, Bannerman has received notification of formal environmental clearance from the Namibian Ministry of Environment and Tourism for development of the Etango Project as described in the Environmental and Social Impact Assessment. An updated ESIA and amended environmental clearance and mining licence applications, incorporating the enlarged resource and site layout refinements, will be submitted to the relevant Namibian authorities in the June 2011 quarter.
That indicates to me that the 2009 mining licence application is STILL CURRENT!! The application to be submitted later this year is an amendment ... so a mining licence could be forthcoming sooner rather than much later!
All interesting stuff. Helps confirm that the BMN share price is just too low!
BMN Price at posting:
81.0¢ Sentiment: LT Buy Disclosure: Held
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