still risky, page-17

"Thats not even taking into account the savannah issue and the fact they may lose their license over the tennemant. Anyone who buys before the savannah issue is settled is a fool."


Barry - get a grip, mate! The Savannah "non-issue" has been known about for ages - long before the price started slipping. And BMN will NOT lose their tenement - the attempted lawsuit is (a) against the Minister for Mines and Resources, not Bannerman, and (b) is for a different area, not the Goanikantes Anomaly A area at all.

Bannerman is one of Warwick Grigor's top picks of U stocks, along with Alliance (AGS), and he is as puzzled as the rest of us as to why the price has been pushed down the way it has been. Some may use the "M" word (*anipulation) while others may conjure up conspiracies about shorting. Others may say it's a Catch 22 situation, where we follow Canada, but they think they're following us. And the moves in Canada are big price-wise, but on tiny volumes. And the ASX crowd seem to ignore the lack of volume over there - the price can drop 15c or rise 15c on a parcel of a few hundred shares, worth not much more than a good dinner.

Bannerman most certainly have the goods, but the current drop in share price is an aberration IMHO, and when it bounces, it is likely to bounce hard and fast, as the bargain hunters move in and the true extent of their resources is recognized.

I bought another 50k shares at 79 cents the other day, to average up (my original purchase, of many more than that, was for a much lower price ages ago), so I've put my money where my mouth is. I wouldn't be surprised to see it consolidate around this 79-80 cent level for another day or three, then head on upwards. See my post from a couple of days ago as to the charting reasons why I think that may be so.