Didn't realise until tonight that they have spent only $57,000...

Didn't realise until tonight that they have spent only $57,000 on exploration and evaluation for the last 6 months in 2007 (for the last 3 months spent nil). In comparison, during the same timeframe, they spent $1,343,000 on administration...in 6 months!

Added to this on the quarter ending 30th June 2007, they spent another $761,000 on administration ... in 3 months and only $11,000 on exploration and evaluation.

In fact, for the 06/07 year, they spent in total $2,320,000 in administration and only $70,000 on exploration and evaluation.

Pretty sick to do that and in fact, almost inexcusable. Travel, accomodation, visas, premises, utilities, overheads, wages, car hire, food, superannuation, miscell. expenses etc don't add up to that much.

You'll be quite lucky to make it another 5-6 months without a placement or rights issue which will heavily dilute and that s if they can get the money as any sophs would want pretty low prices.

The options may be dead at 18.04 in 24/05/09 if this occursa and current illiquidity does appear to confirm this liklihood. With the uranium exploration market under severe suffrance, perhaps not even speculation may rescue her.

It's hard to find positives. You'll need Ukraine within 3 months IMHO or current prices may seem expensive.

I guess I'd be pretty angry too. The old BMN crew have been so far very disappointing.