BMN 0.00% 3.8¢ bannerman resources limited

comparrison mey vs. bmn

  1. 473 Posts.
    lightbulb Created with Sketch. 92
    Just some figures:

    Amount uranium:

    Bmn 150 Mio lbs
    grades around 220 ppm
    geology difficult
    PFS just published
    ~30 Mio AUD Cash
    operating costs 41 USD/lbs
    no cornerstone investor yet

    Mey only 38.6 Mio lbs
    grades around 155 ppm as up to date
    geology good (very shallow resource-not deeper than 40 m)
    scoping study expected in Q1 2010
    ~ 5 Mio AUD Cash
    estimated operating costs around 20-30 USD/lbs
    Yesterday Areva announced that they bought a 10.5 % stake.

    So while some points give BMN an advantage,the announcement of Areva (who by the way paid a 85 % premium for the 10.5 % stake of Marenica compared to yesterdays shareprice) boosted Marenica 33 % upwards right now on really huge volume.
    So that is what is missing for BMN...
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