Bannerman Resources Limited
TSX : BAN
ASX : BMN
NAMIBIAN : BMN

Bannerman Resources Limited

March 25, 2015 07:00 ET

Bannerman Resources Inc.: Etango Heap Leach Demonstration Plant Opened-Commissioning Commences

PERTH, AUSTRALIA--(Marketwired - March 25, 2015) - Bannerman Resources Limited (ASX:BMN)(TSX:BAN)(NAMIBIAN:BMN) ("Bannerman") is pleased to confirm the successful completion of the construction and official opening on 24 March 2015 of the Etango Heap Leach Demonstration Plant ("Demonstration Plant") by Mr Patrick Elungu, Chief Inspector - Regional Services, Ministry of Mines and Energy and Dr Wotan Swiegers, Director of the Namibian Uranium Institute. The full report is available on Bannerman's website at www.bannermanresources.com and on SEDAR (www.sedar.com).

The commissioning of the Demonstration Plant is a significant milestone as Bannerman continues to progress the development of the Etango Project. The operation of the Demonstration Plant, an integral step of the detailed engineering and financing phases, specifically enables:

  • Demonstrating the design and projected performance reflected in the Definitive Feasibility Study,
  • Maintaining and building project knowledge, and
  • Pursuing value engineering.

Bannerman's Chief Executive Office, Len Jubber, said:

"The commissioning of the Demonstration Plant coincides with the Chinese government approving construction of two more units at the Hongyanhe nuclear power plant in Liaoning province, marking the first approval for new reactors in four years.

China, currently the largest constructor of new reactors clearly continues to ramp up its nuclear energy program in line with its stated goal of increasing electricity generated from nuclear plants from 21 GW currently to 58 GW by 2020 and 150 GW by 2030. In terms of reactors, China now has 24 reactors in operation, 25 under construction and 189 on order, planned or proposed.

In the face of this growing demand, Bannerman's advancing Etango Project remains one of the very few globally significant uranium projects that can realistically be brought into production in the medium term".

Len Jubber, Chief Executive Officer

About Bannerman - Bannerman Resources Limited is an ASX, TSX 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 80%-owned Etango Project situated near Rio Tinto's Rössing uranium mine, Paladin's Langer Heinrich uranium mine and CGNPC's Husab uranium mine currently under construction. 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. In 2015, Bannerman is conducting 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.

Contact Information

  • Len Jubber
    Chief Executive Officer
    Perth, Western Australia
    +61 (8) 9381 1436

    Robert Dalton
    Financial Controller & Company Secretary
    Perth, Western Australia
    +61 (8) 9381 1436

    Spyros Karellas
    Investor Relations
    Toronto, Ontario, Canada
    +1 416 800 8921
    spyros@pinnaclecapitalmarkets.ca