CAPITAL MARKETS

Bannerman gets new institutional support in fund raising

Potential project developer raising $8M

 Uranium bulls like Bannerman argue the market outlook is much less desolate now than earlier this decade.

Uranium bulls like Bannerman argue the market outlook is much less desolate now than earlier this decade.

Bannerman, which started the current quarter with A$1.3 million cash, will use the funds for further optimisation studies on the Etango project in Namibia.

While the project has been the subject of multiple studies this decade, the low uranium price has precluded development of the previously modelled US$793 million, 7.2 million pounds per annum operation.

However, there is some optimism that the market for producers could be set to improve, with various operational closures such as Paladin Energy's nearby Langer Heinrich potentially heralding the bottom of the market.   

Bannerman's fund raising is pricing new shares at A4.6c.

Shares in Bannerman were at 5.7c immediately prior to the fund raising trading halt, capitalising the company at $49 million.

However on a 10-day volumed weighted basis, the pricing of the fund raising equates to a 9.2% discount.

Disclosure: The reporter holds shares in Bannerman

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.