BMN 1.86% $3.16 bannerman energy ltd

Chris, I totally agree with kariba on the first stages of...

  1. 313 Posts.
    Chris, I totally agree with kariba on the first stages of mining. It's lower grade, but there will be very limited 'overburden', but there a requirement to shape a pit, as with ANY open pit mine. It's not just a simple case of 'start mining'....

    I think it's also important though to consider that a lot of people are looking at this as a 150m + lb resource, not the 27m lbs initial JORC. There is already speculation factored in to the current sp on the total value of the project (and the rest), so NOT considering the requirements to get to the bottom 350m is not considering the total cost/reward of the project. If we just valued BMN on the top 80m at Goan, then it'd probably be valued much less at this time.

    Obviously though, I think Anomoly A is just the start. I actually don't think they will get to mine it themselves. RIO will take them over shortly and add Goan product to Rossing, and/or develop/expand their processing mill capacity to take in the extra ore. Maybe.
 
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