what's news...., page-5

Hi Smity, short answer - IMO yes I see a sp over $1.50 pre-producer, for various reasons.

We've known for a while that capex of 550m plus was required to build the mine so to my mind, unless BMN was swallowed by an exisitng producer who processed the ore (not impossible but unlikely IMO as matters stand today) then the odds were always fairly high a partner would be required to bring the project to fruition.

Assuming the mining license is some way off (by this I mean months) - which seems to me to be the case (hope I am wrong) - in the immediate term I think the sp will be dictated by the U price and general market sentiment towards the sector (though the update on feasibility in Dec could give us a kick).

Medium term, if the U price and sentiment holds or continues its current trajectory and we manage to nail down the mining license in I think we will see oursleves over $1. That's where we want to be for any capital raising.

Additonal medium term kickers would be some decent Rossingberg drill results and further U price increases as we continue the strategic partner piece and move closer toward completion of the BFS. Stating the obvious, the more attractive the project becomes the better the strategic deal for the shareholder in terms of how its stitched together (i.e. relative contributions of strategic partner, debt, equity to fund the project) to maximise shareholder value.

So, personaly, yes I do believe the sp can get to $1.50 before BMN becomes a producer. Bear in mind it hit $4 plus in the euphoria of the last U bull market and at a much less advanced stage. Though some might argue that a fair portion of that $4 sp was driven by hype and expectation which may now have been proven over optimistic in terms of the current actual deposit grades (?)

So to recap, medium term (next 6 months):
- U price
- general market performance / sector sentiment
- feasibility update (especially opex update)
- mining license
- Rossingberg results
- capital raising

Plenty of water to go under the bridge. All the above stand as both risks and opportunities but could/should see us over $1 on our way to your $1.50 plus pre-production. Just my view. You also have to ask if all does go to plan whether BMN makes it to production or is taken over.