Lotus Resources

ASX / NSX-listed Bannerman Resources has advised it has been notified of the sale by Resource Capital Fund IV and Resource Capital Fund VI of the entirety of RCF’s residual shareholding in the company, being 191,429,739 shares.

The company understands that the purchasers are a number of Australian and offshore institutions, including significant participation by specialist uranium investment funds and existing institutional shareholders.

The sale was effected through a crossing on ASX on Friday 14 September 2018.

It follows the sale by RCF of 93,761,362 shares in the period 24 July 2018 to 23 August 2018.

“Bannerman Resources is grateful for RCF’s long-term support from the point of its initial investment in Bannerman in 2008,” says chairman, Ronnie Beevor.

“Their subsequent investments have provided funding stability to the company during a very difficult period in the uranium sector.

“This enabled the continued progression of the Etango uranium project to its current highly advanced, heavily de-risked and development-ready status.

“A key part of this progression, and one directly enabled by the support of RCF, was the construction and operation of the Etango Heap Leach Demonstration Plant between 2014 and 2017.

“Bannerman Resources is very pleased to welcome further institutional investors to its register. The Bannerman Board and management team will continue to focus on delivering maximum value for all shareholders from its highly endowed and strategically placed Etango uranium project.”