its starting to really hot up, page-2

Just another one ....

I just come across Regent Pacific's report to shareholders on the Bannerman share purchase. A very good read. Most of the stuff we know, but from page 5, they give the reason for their BMN investment

http://www.regentpac.com/ICMServlet/download/13-728-1216/EAnnt-BannermanSubscription(29May2009).pdf

"Reasons for subscribing for shares in Bannerman

Much like our recent investment in Kalahari and, to a lesser extent, Polo, we consider a strategic investment in Bannerman as a sensible diversification of our existing energy and energy related investments. As you know, historically the Company has been primarily focussed on base metal and coal projects and other investments in the mining sector, but as worldwide concern in respect of 'Global Warming' intensifies, investment in what is widely regarded as a 'cleaner' energy source is, in our view, entirely appropriate.

The Board is of the view that the long term outlook for the uranium price continues to strengthen with the growing realisation that nuclear energy is key to providing a realistic solution to the global warming and energy security concerns. Certainly, this is consistent with the approach taken by China.

In respect of Bannerman specifically, the scale and favourable location of the Etango Project presents an attractive investment opportunity and through our investment, we hope to assist Bannerman to create a substantial platform from which to grow in due course.

In a sector which delivers product to utilities which operate long life assets, a large scale resource in a friendly investment jurisdiction such as Namibia is rapidly becoming an important and strategically valuable asset. This is helped by the possibility of bringing the asset into operation in a relatively short period of time following receipt of all requisite regulatory approvals and development funding.

In short, the Board considers Bannerman to be undervalued compared to its peer group.

The Directors consider the transactions referred to above to be on normal commercial terms and in the ordinary and usual course of business of the Company. They believe that the terms of the transactions referred to above are fair and reasonable and in the interests of the Company and the Shareholders as a whole."