Quarterly Activities Report For the Period Ended 30 September 2017
PERTH, Australia, Oct. 17, 2017 (GLOBE NEWSWIRE) -- Bannerman Resources Ltd. (ASX:BMN) (NSX:BMN) (“Bannerman” or “the Company”) is pleased to report on a productive September quarter.
HIGHLIGHTS
- Etango’s long term tenure secured by Retention Licence
- Granted 5 year extendable retention licence
- Tenure secured over entire future Etango mine site and two satellite deposits
- Ideal tenure for flexibility and moving to mining licence when uranium price recovers
- DFS Update progressing well
- Targeting substantial capital and operating cost improvements
- Processing Optimisation Study near completion
Bannerman’s Chief Executive Officer, Mr Brandon Munro, said, “The Bannerman team achieved a key tenure milestone at Etango during the September quarter, with the award of a Retention Licence over the Etango Project. We also added meaningful value to the Etango Project through cost-effective progression of the DFS Update. Bannerman continues to conservatively manage its capital and remains exceptionally well positioned for the expected correction in current, depressed uranium prices.”
The full report is available on Bannerman’s website at www.bannermanresources.com and on SEDAR (www.sedar.com).
Brandon Munro
Chief Executive Officer
17 October 2017
For further information please contact:
| Brandon Munro Chief Executive Officer Perth, Western Australia Tel: +61 (8) 9381 1436 info@bannermanresources.com.au | Robert Dalton Company Secretary Perth, Western Australia Tel: +61 (8) 9381 1436 info@bannermanresources.com.au | Michael Vaughan (Media) Fivemark Partners Perth, Western Australia Tel: +61 422 602 720 michael.vaughan@fivemark.com.au |
About Bannerman - Bannerman Resources Ltd. is an ASX and NSX listed exploration and development company with uranium interests in Namibia, a southern African country which is a premier uranium mining jurisdiction. Bannerman’s principal asset is its 95%-owned Etango Project situated near Rio Tinto’s Rössing uranium mine, Paladin’s Langer Heinrich uranium mine and CGNPC’s Husab uranium mine. A definitive feasibility study has confirmed the technical, environmental and financial (at consensus long term uranium prices) viability of a large open pit and heap leach operation at one of the world’s largest undeveloped uranium deposits. From 2015 to 2017, Bannerman conducted a large scale heap leach demonstration program to provide further assurance to financing parties, generate process information for the detailed engineering design phase and build and enhance internal capability. More information is available on Bannerman’s website at www.bannermanresources.com.