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Bannerman Resources to lift cash position as uranium market awakens

Published: 01:34 06 Jun 2018 BST

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Bannerman shares are in pre-open

Bannerman Resources Ltd (ASX:BMN) remains focused on the Etango project in Namibia, which hosts a resource of 271 million pounds of uranium.

Etango is the largest advanced, unaligned uranium project in the world.

Bannerman therefore is highly leveraged to the uranium market, which has seen prices edge higher to around US$23 a pound.

To advance the next steps, the company is heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Friday 8 June 2018, or earlier if an announcement is made to the market.

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