Bannerman makes headway in Etango Project

SWAKOPMUND - BannermanResources Limited recently lodged a mining license application with the Ministry of Mines and Energy for its Etango Project in Namibia. Bannerman said in a statement published on the Afrol News website, that the application was lodged with the Ministry to enable development of the project.

In addition, Bannerman has lodged an Environmental and Social Impact Assessment conducted by independent environmental consultants with the Ministry of Environment and Tourism. After Bannerman recently released the results of its Preliminary Feasibility Study (PFS) on the Etango Project the company announced its intention to proceed to a Definitive Feasibility Study (DFS).

“The release of the PFS is a very important milestone for the company as Bannerman advances the Etango Project towards commencement of construction in 2011 and production in 2013,” Bannerman said.

According to the report, Bannerman has received a substantial number of investor queries, following the announcement of the PFS, and in response believes it is important to highlight some key points on the viability of the project.

Bannerman believes the Etango Project is one of the world’s largest undeveloped uranium depositslocated in a premier uranium mining jurisdiction, offering long term security of supply for end-users within the timeframe in which there is growing consensus that supply will be constrained as nuclear renaissance gathers momentum.