Bannerman Resources (BMN) - Uranium Player Reduces Scale and Transforms Value Proposition
Matthew Gordon, Ptolemy Capital
6 Months ago
Interview with Brandon Munro, CEO of Uranium Developer, Bannerman Resources (ASX:BMN).
Bannerman Resources is a uranium junior with a large uranium project in Namibia called Etango. The big sticking point for Etango has always been the large CAPEX: US$780M indicated in their DFS and the Africa factor.
However, today's scoping study could well go some way towards changing that sentiment. The scale of the project has been much reduced; the CAPEX is now down to just US$254M. This is now a much more manageable project and their optionality around financing has been enhanced. Bannerman Resources now has the optionality to turn this uranium project into a reality in a variety of ways.
A new PFS and DFS are now on the horizon and should follow in around 18-months. Bannerman Resources could now be primed to time its entry into the next cycle perfectly.
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