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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 A $ 8 million capital boost, boosting the company's finances and allowing further optimization work at Etango.
HIGHLIGHTS
- A successful capital increase of $ 8.3M at the end of the quarter An investment of $ 8M from institutional and sophisticated investors
• To finance the investment 39, optimization at Etango, product marketing and a solid working capital - The uranium sector is preparing to recover Uranium mine: 18Mlbs per year U 3 O 8 production (10% of the world supply)
• Decision announced on July 26, 2018 to place maintenance for an indefinite period until the resumption of prices
• Cameco confirms its intention to buy uranium on the spot market to meet its delivery obligations - Further 8.1Mlbs U 3 O 8 ] (Purchased by Yellow Cake plc
Bannerman Managing Director Brandon Munro said: [194] 59016] "The success of our $ 8 million 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
General Manager
July 27, 2018
For more information, please contact:
| Brandon Munro General Manager Perth, Western Australia Tel: +61 (8) 9381 1436 info @ bannermanresources. com.au |
Robert Dalton General Secretary Perth, Western Australia Phone: +61 (8) 9381 1436 [email protected] |
Michael Vaughan (Media ) Fivemark Partners Perth, Western Australia Tel: +61 422 602 720 [email protected] |
About Bannerman – Bannerman Resources Limited is a publicly traded exploration and development company of ASX and NSX which has interests in s uranium in Namibia, a country in southern Africa that is one of the earliest 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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