Bannerman Resources has convened a General Meeting of shareholders on 13 July to approve a change of name to “Bannerman Energy Ltd”.
Since 2006, the Company has been focussed on the development of its flagship uranium development project in Namibia, the Etango Uranium Project. The Company’s proposed new name (Bannerman Energy Ltd) reflects the fact that uranium is an energy metal and that uranium proposed to be mined from the Etango Uranium Project will be used exclusively in the production of nuclear energy.
The new name better reflects the focus that the Company has maintained over many years, and the Company’s continued commitment to the uranium sector and the nuclear power industry.
Approval to change the Company’s name is being sought in conjunction with a rebranding that will enhance the Company’s reputation in Namibia as an outstanding corporate citizen, its strong environmental record and our excellent credentials for industry leadership and governance.
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The Company’s rebranding will also acknowledge the growing acceptance of nuclear power as a clean, base-load energy source that is vital to mitigating climate change challenges, reducing airborne pollution, balancing land use challenges and reducing other environmental risks associated with energy production.
Nuclear energy currently provides more than 10% of the world’s electricity and a large proportion of the world’s clean energy – for example, in the United States, nuclear energy provides more than 50% of the nation’s total low-emission electricity. As the world moves collectively towards decarbonisation goals, nuclear power will become even more crucial to meeting pollution challenges – whilst enabling continued global development and further improvements in quality of life.
In turn, uranium is becoming broadly recognised for its green credentials, given uranium is the un-substitutable fuel source for nuclear energy and modern uranium mining operates at the highest global standards of environmental, health and safety standards.
There will be no change to the Company’s listing codes on either ASX (BMN), OTCQB markets (BNNLF) or the Namibian Stock Exchange (BMN).
The full Notice of General Meeting can be downloaded here