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PERTH, Australia, July 27, 2018 (GLOBE NEWSWIRE) – Bannerman Resources Limited (NSN: BMN) ("Bannerman" or "the Company") is pleased to announce a strong quarter in June The company raised a heavily oversubscribed AUS $ 8 million, strengthening the company's finances and allowing further optimization work at Etango
HIGHLIGHTS
- successful capital with a cash balance of $ 8.3M at the end of the quarter. $ 8 million investment with institutional and savvy investors
• Etango optimization financing, product marketing and strong working capital position - The uranium sector Is preparing to recover while Cameco closes McArthur River indefinitely Uranium mine: 18Mlbs per year U 3 O 8 production (10% of the total) 39; World Offer)
• Decision announced on July 26, 2018 to place maintenance indefinite until price recovery
• Cameco confirms its intention to buy uranium on the Spot Market to Meet Delivery Obligations - Further 8.1Mlbs U 3 O 8 (Acquired by Yellow Cake plc
The General Manager of Bannerman, M. Brandon Munro said: "The success of our $ 8M capital raising demonstrates the confidence of institutional investors in our Etango project. Bannerman is now well financed and exceptionally well positioned in the face of a recovery in uranium prices due to Cameco Corporation 's supply discipline and the demand for physical investment funds from the United States. Uranium such as Yellow Cake plc.
The full report is available on Bannerman's website at www.bannermanresources.com and on SEDAR (www.sedar.com)
Brandon Munro
Chief Executive Officer
July 27, 2018 [19659011] For more information, please contact:
About Bannerman – Bannerman Resources Limited is an exploration and development company listed on the ASX and NSX, which has uranium interests in Namibia, a country in southern Africa that is one of the first uranium mines. Bannerman's main asset is its 95% -owned Etango project, located near the Rio Tinto Rössing uranium mine, Paladin's Langer Heinrich uranium mine, and Paladin mine. CGNPC uranium Husab. A definitive feasibility study has confirmed the viability of a large open pit leaching and heap leaching operation in one of the largest undeveloped uranium deposits in the world. From 2015 to 2017, Bannerman conducted a large-scale heap leach demonstration program to provide additional assurance to funding parties, generate process information for the detailed engineering design phase and strengthen and enhance internal capabilities. More information is available on Bannerman's website at www.bannermanresources.com .
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