haywood securities target 200% return on bmn

TER: On Bannerman Resources Limited (TSX:BAN; ASX:BMN), you have a target price that would give an investor about 200% return on investment from today's levels. What's the driver here?


GM: Bannerman has the Etango Project in Namibia, which is very large with more than 160 Mlb. Effectively, it's the most leveraged play we have under coverage in the uranium sector; so it does have the upside. It's a great country and a handsome resource, but it would be one of the more expensive producers in our coverage universe. We see significant appreciation in the uranium price over the next few years, implying a significant return for Bannerman.


http://uk.ibtimes.com/articles/20101028/uranium-geordie-mark-mining-juniors-nuclear-power-oil-investment_2.htm

I guess 200% makes for around $1.50 at current prices.