PERTH, Australia, Dec. 05, 2017 — Bannerman Resources Limited (ASX:BMN) (NSX:BMN) (“Bannerman” or the “Company”) is pleased to announce that the Etango Membrane Study has successfully progressed through the initial test work phase at the Etango Heap Leach Demonstration Plant, validating the potential for further capital and operating cost reductions, to be confirmed in the DFS Update.
Bannerman’s Chief Executive Officer, Mr Brandon Munro, said, “Following the success of the Etango Processing Optimisation Study announced last month, I am delighted with the progress our technical team has made with the Membrane Study. When you consider the proposed scale of production at Etango, the possible operating cost savings that membrane technology can deliver is a huge potential value addition to Etango and Bannerman. This now well established technology has the potential to move the dial at Etango, so we eagerly await the results from this study, expected early next year.“Recent production cut announcements from the world’s two largest uranium producers, KazAtomProm and Cameco, will remove more than 25 million pounds of uranium from 2018 forecast supply. This is expected to put the uranium market into deficit, which follows 11 consecutive years of surplus that has driven prices to fundamentally unsustainable levels. Next year promises to be very exciting for our industry and Etango is exceptionally well positioned given its advanced nature, world-class scale and the substantial economic uplift we are targeting in the DFS Update.”For further information please contact:
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