A number of things strike me reading the latest announcements:
- the first is the amount of work and length of time that it takes to bring a project through from exploration to production. We are talking a decade. For that reason alone, taking into account the relatively advanced stage we are at, BMN makes for a more attractive proposition than many/most on that factor alone.
- there remains plenty of potential deposit upside and we are far from done on that count.
- on the subject of takeoevers, whilst I know some have fallen over or are being renegotiated, I understand that the Kalahari Minerals acquisition is going ahead at the same pre-Tsunami price offered. If ever you wanted an indication of China's intention to contiune down the nuclear energy path that must surely be it. My sense after all the commotion of the last couple of weeks is that BMN is a bit of a sitting duck in many respects and is ripe for someone having an opportunistic tilt at it.
If we can get the licence piece sorted then the rest will follow and in that eventuality the upside from here remains significant.
We may or may not settle back to the 48c mark I think with the volumes going through it was more than just short termers exiting with a tidy short term gain. 7m shares is a lot of shares for a days trading in BMN and they were going somewhere, without a willing buyer that amount of volume would have sent us tumbling again - hopefully they have gone to stronger hands.
BMN Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)