Perth, Australia — MINING REVIEW.COM — 28 March, 2008 – Australian-based uranium development company Bannerman Resources Limited has announced that it will list on the Namibian Stock Exchange (NSX) next week, making it the third uranium company to do so this year. The others were Paladin Energy and Deep Yellow.
A news release issued in Perth says the Listing Committee of the Namibian Stock Exchange has recommended to its Board that, subject to all regulatory approvals, it approve the listing of Bannerman’s ordinary shares effective from Wednesday 2 April 2008. The stock symbol for the company’s ordinary shares on the NSX is expected to be "BMN". The release emphasised that there will not be a capital raising associated with the NSX listing.
The company will continue to be domiciled in Australia and to retain its primary listing on the Australian Stock Exchange and its secondary listing on the Toronto Stock Exchange. It will be listed on the "Mining" sector of the Development Capital Board of the NSX.
“Bannerman has made the application to list its ordinary shares on the NSX to affirm its commitment to Namibia, its people and economy,” the release states, “and to enable Namibian investors the opportunity to participate in the company’s projects in Namibia, Botswana and Australia.”
Bannerman Resources Limited is an emerging international uranium producer with projects in Namibia and Botswana, with an interest in a license in Australia. The company’s major focus is on the exploration and development of the Goanikontes uranium deposit in Namibia.
The Goanikontes uranium project is located in a world-class uranium province in Namibia situated on a trend adjacent to the Rio Tinto-controlled Rössing uranium mine. A bankable feasibility study is planned for 2008 with production scheduled to commence in 2011.