Here are some thoughts:Dear ASIC,I am writing to express concern...

Here are some thoughts:

Dear ASIC,

I am writing to express concern to the continuous non disclosure by Bannerman Resources (BMN) in regard to a High Court Motion lodged with the Namibian High Court by Savanna, who are asking the decision to grant them EPL 3345 be put aside, for reasons that have not been made available to the public.

BMN have made one specific announcement in regard to this motion, on 20 Dec 07, that advised the market that Savanna were making various claims against the Namibian Ministry for Mines and in effect Bannerman in regard to EPL 3345. Please see the ann, attached.

Subsequently, there have been various behind the scenes developments of this claim that BMN have not made available to the public; including amendment to the motion on 14 April and other actions on 30 May and 30 June.

These events were not made available to the public until their Quarterly released on, which provided this update:

HIGH COURT MOTION

The matter of the High Court Motion brought against the Minister of Mines and Energy (MME) by Savanna Marble CC (Savanna) is ongoing with preliminary affidavits being submitted to the court. Although the Motion has been brought against the MME, Bannerman Mining Resources (Namibia) (Pty) Ltd (Bannerman) is second respondent to the Motion which relates to EPL3345.

On 14 April 2008, Savanna amended its Notice of Motion to include a claim that the MME was ‘functus officio’, in effect claiming that the Minister did not have the power to grant EPL3345 when he surported to grant the licence to Bannerman on 16 April 2006. Bannerman submitted answering and opposing affidavits on 30 May 2008.

The MME filed three affidavits on 30 June 2008 opposing the claims by Savanna. The affidavits were sworn by Mr Errki Nghimtina, the Minister of Mines and Energy, Mr Erasmus Iiyambo Shivolo, the Director of Mines and the Acting Mining Commissioner and Dr Gabriele I. C. Schneider, the Director of Geological Surveys at the Ministry of Mines and Energy.

Savanna now has the opportunity to submit affidavits in response at which time Bannerman will approach the President Judge of the Namibian High Court to seek a hearing date.

Bannerman is seeking advice on the merits of Savanna's claim and expects that advice to be completed after all of the affidavit evidence has been filed.

As you can see from this, BMN have failed to keep the market informed of matters that could result in their EPL 3345 being declared null and void, and would possibly reduce their company value to zip.

I have emailed BMN through their website and received a reply, which made less sense than why they would not be keeping the market informed of ongoing events. Please see attached my email and their response.

I am writing to make you aware of these events and that Bannerman Resources should be made to answer why it has not kept the market informed of the unfolding events, and which has certainly been an impact on the share price performance, creating great losses for investors who have sold out.

Personally, I have not lost any money through this episode, and I am just a concerned shareholder acting on behalf of others in the investment community who see this as quite possibly major negligence.

Yours sincerely,
SDG

Just the start....