Bannerman to raise A$85m to advance Etango to an investment decision
Australian- and Namibian-listed uranium development company Bannerman Energy has received firm commitments for a single tranche placement of about 26.6-million new fully paid ordinary shares to new and existing institutional and sophisticated investors at an issue price of A$3.20 apiece to raise gross proceeds of about A$85-million. The proceeds will, along with existing cash, be used to fund construction activities, infrastructure costs and general working capital as the company advances its flagship Etango project, in Namibia, towards a positive final investment decision.
Australian- and Namibian-listed uranium development company Bannerman Energy has received firm commitments for a single tranche placement of about 26.6-million new fully paid ordinary shares to new and existing institutional and sophisticated investors at an issue price of A$3.20 apiece to raise gross proceeds of about A$85-million. The proceeds will, along with existing cash, be used to fund construction activities, infrastructure costs and general working capital as the company advances its flagship Etango project, in Namibia, towards a positive final investment decision.
