The Etango uranium project is one of the world’s largest undeveloped uranium projects. It is located in Namibia, one of the world’s top 5 uranium producing nations with substantial mining infrastructure.
Etango is one of the few uranium projects in the world with a completed Definitive Feasibility Study (DFS) and environmental permitting and will be a top 10 producer once developed.
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Bannerman’s MD and CEO, Brandon Munro, says:
“The strong support from existing and new institutional investors evidences the quality of Bannerman’s Etango-8 uranium project, and the transformational effect this streamlined development approach has had on the Company.
“I am grateful for the continued support of our existing shareholders, most notably Tribeca Investment Partners. I am also pleased to welcome a dozen new, high quality institutional investors onto the Bannerman register.
“We will continue our persistent and rigorous stewardship of the Etango asset.
“Bannerman last raised new funding almost three years ago. In the meantime, we have delivered tangible technical and commercial progress at Etango, which has translated into significant enhancement of shareholder value.
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“We are excited about the opportunity that the Etango-8 Project presents, particularly in the current environment of improving uranium sentiment.
“However, our focussed strategy and financial discipline are unchanged. In progressing the Etango-8 Project, we will use our cash resources judiciously and with targeted maximum benefit for all Bannerman shareholders.”