Bannerman Resources Limited
ASX : BMN
NAMIBIAN : BMN

Bannerman Resources Limited

July 27, 2017 07:00 ET

Bannerman Resources Quarterly Activities Report For the Period Ended 30 June 2017

PERTH, AUSTRALIA--(Marketwired - July 27, 2017) - Bannerman Resources Limited (ASX:BMN)(NAMIBIAN:BMN) ("Bannerman" or "the Company") is pleased to report on a productive June quarter.

HIGHLIGHTS

  • Namibian Partner Transaction Completed
    • One Economy Foundation has become a 5% loan-carried shareholder in Subsidiary
  • DFS Update Progressed
    • Targeting substantial capital and operating cost improvements
    • Incorporating results from Demonstration Plant Program
  • Uranium price remains challenging, although forward demand continues to strengthen
    • Two more Japanese reactors restarted
    • India announced 10 new reactors to be built
    • Nuclear construction reaches 25-year high

Bannerman's Chief Executive Officer, Mr Brandon Munro, said, "The June quarter has involved a period of consolidation after the successful completion of the Demonstration Plant testwork last quarter. We have progressed the DFS Update whilst utilising funds conservatively to ensure our cash balance gives us longevity in the context of continuing low 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

27 July 2017

About Bannerman - Bannerman Resources Limited 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.

ABN 34 113 017 128

Contact Information