Namibian uranium developer Bannerman Resources’ (ASX:BMN, TSX:BAN, NSX:BMN) Etango Uranium Project is one of few global top 10 uranium projects likely to progress to development in the medium term.
The project is one of the most advanced with a DFS completed and a granted environmental permit.
It has a strong balance sheet support and a project located in a highly regarded investment jurisdiction.
Namibia is the 5th largest uranium producing country – will jump to 2nd when Husab commences production in 2016.
The heap leach demonstration program is underway - a key point in project development and development financing process.
This will showcase the project - demonstrating the heap leaching process, further de-risks the Etango development path.
It is also likely to be watched by potential JV / funding partners.
CEO Len Jubber speaks with investors
Chief executive officer Len Jubber presented at Proactive's Melbourne and Sydney Luncheons this week, discussing the Etango project and heap leach demonstration plant as well as the outlook for uranium.
ACCESS FULL PRESENTATION HERE
Etango Uranium Project
Etango has the world’s fourth largest Ore Reserve of 119 million pounds U3O8 and is anticipated to produce between 7 million and 9 million pounds of U3O8 per annum over a 15 year mine life.
It is an open pit mine located near to Rio Tinto’s (ASX:RIO) Rössing uranium mine, Paladin Energy’s (ASX:PDN) Langer Heinrich uranium mine and CGNPC’s Husab uranium mine - under construction.
The project is well located in regards to external infrastructure.
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