Bannerman Resources Limited

Bannerman Resources Limited

October 21, 2016 07:00 ET

Bannerman Resources Limited: Quarterly Activities Report For the Period Ended 30 September 2016

PERTH, AUSTRALIA--(Marketwired - Oct. 21, 2016) - Bannerman Resources Limited (ASX:BMN)(NAMIBIAN:BMN) is pleased to recap on a successful September quarter.


  • Successful Heap Leach Demonstration Plant Program
    • Phase 5 (Value Engineering) results deliver potential for substantial capital and operating cost savings
    • Consistency of results deliver further affirmation of robustness of DFS process inputs and relatively low technical risk of Etango
    • Commencement of Phase 6 extension to refine crushing and binder cost reduction opportunities
  • Renewal of Exclusive Prospecting Licence 3345
  • Key adviser appointments
    • Nuclear Fuels Associates (Mr Dustin Garrow) - strategic and uranium marketing
    • Fivemark Partners - strategic and capital markets
  • Corporate streamlining continued
    • Implementation of unmarketable parcel share sale facility
    • Sale and lease-back agreement reached for Swakopmund office property, to net in excess of A$500,000 in the December quarter
  • Cash balance at 30 September 2016 was A$1.2 million.
  • Uranium market dynamics continue to tighten, driving improved sentiment

The full report is available on Bannerman's website at and on SEDAR (

Brandon Munro, Chief Executive Officer

21 October 2016

ABN 34 113 017 128

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