Definately very frustrating and disappointing for shareholders.
The spot uranium price just cant seem to gain any traction, as a result most uranium stocks have just been trending lower and lower.
The spec side of things has been savaged with stocks like Whe,wcu,fte,toe and acb just to mention a few trading at severely depressed prices and powerful downtrends.
The more established stocks have also not been spared by the lack of interest in investing in u stocks, Era,Pdn,Ext and Mru are trading near 52 week lows.
The demand side for uranium going forward looks very strong, at current spot prices the incentive is just not there to explore or develop a resource. This needs to change as currently only high grade projects will make there way into production.
Positives for Bannerman are that they are getting the drills going again which should produce some news flow and bring the excitement factor back to the stock.
Would really like to see the directors dip into their pockets with some substantial stock purchases at current levels, this would send a clear signal to the market that this price for bannerman is ridiculous and reaffirm thier belief in the company. I have No doubt this would have a positive effect on the share price and curb the slow bleeding downtrend the stock is currently stuck in.
They say its the darkets before dawn - well i hope the sun decides to come up very soon.
BMN Price at posting:
28.5¢ Sentiment: LT Buy Disclosure: Held
