Chris suggesting capex is not the problem and "everyone in Namibia is in the same boat" is leading people astray IMHO. The capex numbers for a mine/plant like BMN's are very large in this credit-constrained world. I don't believe you will find half a billion dollars to build a new uranium mine in the next 2-3 years. They are already spening c.$7m quarter on drilling/BFS and will need to go back to market or part with project equity in my view, and that is what the market is pricing in. BTW, they only have 80% of AA don't they? So not right to say they have 106Mlbs, only 80% or 106Mlbs ... apologies if I've missed something. They will be a point where this is a stock I would own (probably about 80c) but not before then.
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Last
$2.90 |
Change
0.040(1.40%) |
Mkt cap ! $509.7M | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.92 | $2.84 | $1.118M | 390.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4543 | $2.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.92 | 16893 | 1 |
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| Last trade - 16.10pm 23/07/2024 (20 minute delay) ? |
| BMN (ASX) Chart |