looks good on the charts, page-37

grizzly

You have made this comment before .. I am afraid I just dont GET IT mate!!!

What has CJ & NMcM's 20% holding of Bannerman Namibia Pty Ltd, got to do with BMN shares getting "diluted"? And how could selling their 20% stake in in this NAMIBIAN company, "makes BMN a more attractive target" allowing a suitor to "rapidly move to 20% by buying their stake"?

Is it just me? That makes not one IOTA of sense!

From my angle, if they sold out, there is ZERO dilution to BMN (Aust), and there is NO added leverage to a takeover! Let me explain why:

Lets say I am Tibbs Kadibbs, CEO of Tibbs Mining, a multi-billionaire mining conglomorate. I am looking to buy a significant uranium operation, so I privately approach CJ & NM and make them an offer to buy their 20%. Now 20% of the current value of Bannerman Namibia, based on current conditions is $35mill, or the equivilent of 40 million BMN shares.

Now it doesnt matter what I offer them, but lets say $200mill - equivilent of $5 per BMN share.

There you go!!! I now own the other 20% of BMN NAMIBIA. Very nice ... BUT I still dont own ONE SINGLE SHARE of BMN Australia. There still will be 156mill BMN shares trading on the ASX the next day, owned by the SAME share holders the day before I did the deal! I have not diluted the current shareholders value of BMN by ONE SINGLE share. I therefore also have ZERO leverage to encourage, force or otherwise influence current shareholders to sell in any way shape or form!

In fact the only thing I would have done is telegraph my interests in the other 80% of the Etango project, still ENTIRELY owned by us current holders, forcing us all to lock up our shares faster than a beer barrel in bush storm!

Sorry mate ... I would flippin

LOVE!!

someone like Cameco to come in and grab their 20% of the NAMIBIAN bolding company. They would have zero leverage, we would have zero dilution .... but, it would be game on, and the SP will be flying up so fast, our heads will look like Rosemary's baby on speed!!

:)