BMN 2.70% 3.6¢ bannerman resources limited

hi from borneo

  1. 12,327 Posts.
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    Hi from Borneo!!

    Have just sent the last week trekking through the interior of Borneo ... if you havent got, "Climbing Mount Kinabalu" on your Bucket list, then pen it in right now!!! Totally awesome! Dont forget to catch up with the orangotangs too!

    We are off to Peninsula Malaysia next & will tour from Penang up north all the way down to Jahor Bahru in the south. Currently found a Wi-Fi spot in town, so opportunity to check the state of the market & re3ply to the 100-odd emails that have banked up!!!

    A bit surprised & disappointed to see what has happened to BMN in the last week. Ridiculous over-reaction? seems like to me. I have downloaded the two announcements & have been reading them the last day & find very little to warrant the smashing! Certainly there are a few percieved negatives;
    **The $555m capex
    **The $38-$41 opex
    **Processing route chosen, but STILL to be confirmed
    **Subsequent delay in DFS, with 12 months more studies to come

    But
    **Analysts have always said that capex will be around $550m IMO any disappointment with this is silly.
    **Coffey have been massively conservative in the opex, with 40% tolerance allowed, and that the flotation circuit must surely reduce costs!!! But they wont have figures until the testing is complete post March. As for the DFS still 12 months away, the final construction & mine startup dates are still relatively on time for 2013.

    Regardless of any over-reaction, people still need to make a decision to protect capital! So well done to any that got out before the slamming, I would have done the same if I had been around. I am away from the markets until mid-late january, so I took profits & closed a number of positions before leaving Aus, including selling off some BMN from my trading account ... I have still been hit badly though. So will be interesting to see what happens now. Looks like we will see a significant change in the registry, so that might be good. BMN now has a very cheap SP & MC for such a large resource with such an advanced status. They are streets ahead of all the U stocks, bar EXT, and the fact is that if BMN fail, then so will EVERY other one of these U stocks too .... BMN wont fail!

    I bought some more today at 64 cents ... So I replaced those I sold & added some more.

    Otherwise thats it for me .. not interested & frankly unable, to be tied to the markets with this trip. So until end of January ..

    Salamat Tinggal
 
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Last
3.6¢
Change
-0.001(2.70%)
Mkt cap ! $39.17M
Open High Low Value Volume
3.5¢ 3.6¢ 3.5¢ $24.32K 685.2K

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12 1001437 3.5¢
 

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Price($) Vol. No.
3.6¢ 110858 3
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Last trade - 11.28am 04/06/2020 (20 minute delay) ?
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Last
3.5¢
  Change
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