Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.

Bannerman BMN share purchase plan 2x oversubscribed

June 25th, 2009

Perth, Australia – 24 June, 2009 – Bannerman Resources Limited (ASX: BMN, TSX: BAN,
NSX: BAN) (“Bannerman”), an Australian-based uranium mine development and exploration company, advises that its Share Purchase Plan (“SPP”) has closed as scheduled and has raised the maximum stipulated amount of A$7.5 million. The SPP concludes the final component of Bannerman’s previously-announced equity financing program to raise gross proceeds of A$37.5 million, which included a share placement of A$30 million to institutional and sophisticated investors in Canada, Hong Kong and Australia.

The SPP offer closed at 5.00pm Perth time (5.00am Toronto time) on Tuesday, 23 June 2009.
Applications for approximately A$15.5 million worth of new Bannerman fully paid ordinary
shares were received from eligible shareholders. Accordingly, applicants will be issued shares on a scaled back basis with the maximum amount of applications in aggregate limited to 7.5 million shares at an issue price of A$1.00 (C$0.875) per share, raising total proceeds of A$7.5 million.

Uranium at 7 month high

June 24th, 2009


From Bloomberg

Uranium Rises to Seven-Month High as Energy Commodities Gain
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By Yuriy Humber

June 22 (Bloomberg) — Uranium rose to the highest in seven months as energy commodities gained globally and utilities sought to acquire stakes in companies mining the metal.

Uranium-oxide concentrate for immediate delivery added $3, or 5.8 percent, to $55 a pound, Denver-based pricing service TradeTech LLC said in a report dated June 19. Nine transactions totaling 1.9 million pounds in volume took place last week.

“Uranium has moved up in line with energy commodities” over the last two months, said Glyn Lawcock, head of resources research at UBS AG in Sydney. “The price got beaten up earlier this year because people needed to generate cash, but things have calmed down.”

A two-month run-up in the uranium price has taken the metal needed for nuclear fuel to its highest since November, when some financial investors including the bankrupt Lehman Brothers Holdings Inc. sought quick sales. Japan’s Kansai Electric Power Co. said last week it would seek more stakes in uranium mines to secure supplies as competition intensifies among utilities to snap up shares of producers.

Uranium has advanced 36 percent since the week ended April 10, shadowing the 38 percent climb for crude-oil futures traded in New York in the same period. Coal used to fuel power plants had gained 12 percent since April’s close as of the week ended June 12, according to McCloskey Group Ltd. prices from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel.

Weekly uranium supply and demand was about 4.5 million pounds last week, according to TradeTech, which includes offers to buy as well as actual transactions in its demand calculation.

Mined uranium provides less than two-thirds of the metal needed each year, with the gap made up mostly from U.S. and Russian stockpiles.

To contact the reporter on this story: Yuriy Humber in Moscow at [email protected]
Last Updated: June 22, 2009 06:10 EDT

Uranium Demand is there- US uses 55m lbs a year produces 4m Lbs per year

June 23rd, 2009

Well-known and highly regarded throughout the mining and exploration community, Mercenary Geologist Mickey Fulp:

“MF: The demand is there. The mined supply every year is somewhere around 110 to120 million pounds. The current world demand is somewhere around 160 to 170 million pounds. So in terms of mine production, the world is at a one-third shortfall on a yearly basis. Over the last few years, these shortfalls have been supplied in large part by the Russians and their “Megatons to Megawatts” program, which converts highly enriched weapons-grade uranium into low-enriched uranium suitable for reactors. The Russians have stated publicly that sales to the U.S. are going to end in 2013. Currently, the U.S. uses somewhere around 55 million pounds of uranium per year and produces less than 4 million pounds. The demand obviously is there. We have not built a nuclear reactor in the U.S. for years, but we have increased the efficiency and increased units within our existing nuclear power plants, so that our demand has been going up. As an energy supplier, uranium is just about as green as you can get. It leaves no carbon footprint. It’s safe. The Three Mile Island scare was media-driven hype, and we all realize that now. Increasingly, the green sector is looking at nuclear energy as a viable, clean, alternative source in the United States.”


Uranium outlook

June 7th, 2009

Uranium futures contracts are currently available for trading on the New York Mercantile Exchange (NYMEX)it is tradable on the CME Globex and Nymex clearport systems.


Wall of Worry or Irrational Exuberance

June 7th, 2009


If you have a look at the posts below ASX listed Uranium speccies it gives an idea of where we are at today. The question that I am asking is: Are we seeing the start of a massively over-bought uranium market or is what we see just the start of a new bull run in uranium. The 5 year charts suggest that the bull is back. So let me know: Does the chart above signify a wall of worry or irrational exuberance?

G8 going nuclear

June 6th, 2009

The chairman of the up-coming G8 meeting, Japanese Prime Minister, Yasuo Fukuda, has informed the Annual Conference of the Japan Atomic Industry Forum, that he will give special attention to nuclear power.

Yasuo Fukuda told the audience that:

“I think that such a movement, which is called the ‘nuclear renaissance’, is proof that our country’s unwavering strategy to promote nuclear energy has been the right one. I, as the prime minister of Japan, will support your work and I will keep doing my best to promote nuclear power that is safe and steady. It is critical for us to strengthen the utilization of nuclear energy as a major source of power, along with our efforts for energy conservation and to develop renewable energy,”

And it gets better, as he goes on to say that he will be giving special attention to the importance of nuclear energy in our fight against global warming. It comes as a pleasant relief that the Japanese Prime Minister sees the environmental benefits of utilising nuclear power as oppose to coal fired power stations, for instance.

It will be interesting to see what Italy and Germany have to say, as they are still not pro nuclear power. However, both countries buy electricity for France so they are gaining a benefit from nuclear energy, although indirectly. Just maybe they will see the light and give some consideration to their own future energy requirements.

Should make for interesting reading as the situation unfolds.