Bannerman confident about market conditions, cash flexibility as it nears final investment decision on Etango
ASX-listed Bannerman Energy says it is progressing towards a final investment decision on the Etango uranium project, in Namibia, with a strong cash position and favourable market conditions.
The company has concluded, on time and within budget, the first phase of early works on the project, including building an access road and water supply infrastructure.
The company has already ordered a tertiary crusher and is advancing design work on a processing plant.
In the quarter ended September 30, Bannerman completed an A$85-million two-tranche equity placement, as well as progressed offtake marketing workstreams.
The company’s cash balance of A$95.7-million and zero debt puts it in a strong position to advance project development in phases, while the uranium price averaged strongly at $82/lb at the end of the quarter, which provides Bannerman with a positive market outlook.
“The Etango financing process also progressed during the quarter, as we compared a range of conventional and strategic funding opportunities that reflect the growing interest in long-term uranium supply.
“Our strong financial position allows us to take the appropriate time in this area to ensure the optimal overall funding mix is delivered for the benefit of all our stakeholders,” says chairperson Brandon Munro.
He adds that the unprecedented positive energy at World Nuclear Association’s yearly symposium in September reflected the further firming of long-term contract markets as the sector enters a seasonally strong period.
“We look forward to accessing the benefits of our careful exercise of patience at this early stage in the uranium cycle.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Comments
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
