Proactive Investors - Run By Investors For Investors

Bannerman Resources responds to ASX query on price and volume increase

Bannerman noted that market focus on the uranium sector may be increasing given the proximity of a recommendation by the US Department of Commerce.
share price chart
The recommendation is due by April 14, 2019

Bannerman Resources Ltd (ASX:BMN) received a query from the ASX today related to the company’s shares rising from 3.9 cents at the close of trading on Monday, March 11 to a high of 5 cents today.

The ASX also noted the significant increase in the volume of Bannerman securities traded over the last few days.

Bannerman responded to the query explaining that it was not aware of any information that had not been released to the market which, if known, could be an explanation for recent trading in the securities of the company.

READ: Bannerman Resources defines satellite deposit potential in drilling at Etango Uranium Project

However, the company noted that market focus on the uranium sector may be increasing given the proximity of a recommendation by the United States Department of Commerce regarding the national security investigation of uranium imports under Section 232 of the Trade Expansion Act of 1962.

The Department of Commerce is required to make its recommendations to the Trump Administration by April 14, 2019.

Accordingly, Bannerman stated that the recent trading in its securities could be explained by more general factors affecting the uranium market, rather than factors specific to Bannerman.

READ: Bannerman Resources highlights positive uranium industry outlook as it updates DFS

View full BMN profile View Profile

Bannerman Resources Ltd Timeline

Related Articles

June 28 2019
W Resources is about to make a name for itself as a serious European-based supplier of tungsten
A map of the Wa project in far northwest Ghana along the border with Burkina Faso
March 06 2019
The JV partners also plan to make an investment decision on the Ghanaian project this year.
wedding rings
July 04 2019
Alba holds 11.765% of the Horse Hill project near Gatwick Airport in the UK’s Weald basin

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use