Bannerman Resources Ltd's (ASX:BMN; NSX:BMN) has outlined that its application for a voluntary de-listing of its securities from trading on the Toronto Stock Exchange (TSX) has been accepted.
The company's securities will be de-listed from the TSX with effect from the close of business on 11 May 2016.
No change will occur to the quotation and trading of Bannerman shares on the Australian Securities Exchange or the Namibian Stock Exchange.
Bannerman is focused on the wholly-owned Etango uranium project in Namibia.
Etango is one of the world’s largest undeveloped uranium deposits replete with environmental permitting and will be a top 10 producer once developed within a strong de-risked uranium jurisdiction, Namibia.
Based on the DFS, production is expected to be 7-9 million pounds U3O8 per year for the first five years and 6-8 million pounds U3O8 per year thereafter.
Current mine life of 16 years has significant expansion potential through the conversion of existing Inferred Resource as well as the deposit being open at depth.
Canadian shareholders
After the de-listing date and until a transfer to the Australian register is effected, shareholders on the Canadian register and beneficial shareholders holding their securities through a CDS participant/broker will not be able to trade their shares on the ASX and their holdings will remain on the Canadian share register.
Securities held on the Canadian register which have not been transferred by 10 June 2016 will automatically be transferred to an Issuer Sponsored Holding on the Australian share register.
Once this occurs, these shareholders will be able to sell their shares on ASX by quoting their Shareholder Reference Number (SRN) to their broker.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.