Bannerman Resources Limited is an ASX and NSX listed exploration and development company with an 95% interest in the Etango Uranium Project in Namibia; a southern African country which is a premier mining jurisdiction.

The 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.

From 2015-2017, 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.

Bannerman is a member of the Namibian Uranium Association and Namibian Chamber of Mines.

Bannerman’s corporate office is located in Perth, Western Australia. The Company is listed on the Australian Securities Exchange (code BMN), and listed on the Namibian Stock Exchange (code BMN) in April 2008. The Etango project office is located in Swakopmund, Namibia.

 

Background

Bannerman listed as a public company on the ASX in April 2005.  In May 2005, Bannerman acquired an interest in its Namibian subsidiary and became focused on the company’s Namibian properties, the Etango Project, formerly named the Goanikontes Project.

Bannerman Mining Resources (Namibia) (Pty) Ltd (Bannerman Namibia) was initially incorporated in Namibia under the name Turgi Investments Pty Ltd and subsequently changed its name on 20 September 2006. Bannerman owns 95% per cent of Bannerman Namibia.  The other 5% is held by the One Economy Foundation, a Namibian not-for-profit organisation that concerns itself with the dual economy in Namibia, where one economy is prosperous and urban, with ready access to a developed economic, physical and technological infrastructure; and the second economy is informal, township or rural and lacks access to the networks, technology and capital required to succeed in the first economy.

Bannerman Namibia is the sole owner of the Mineral Deposit Retention Licence (MDRL) hosting the Etango Project and the Exclusive Prospecting Licence (EPL) which is to the north of the MDRL.