Bannerman Energy Bolsters Etango Uranium Project with AU$85 million Placement

Bannerman Energy Ltd (ASX: BMN) has successfully raised AU$85 million through a well-supported institutional placement at AU$3.20 per share. The proceeds, combined with its existing AU$55 million cash reserve, will fund key pre-FID construction and infrastructure work on the company’s flagship Etango Uranium Project in Namibia. Etango, one of the world’s largest undeveloped uranium resources, is technically and economically validated by a 2022 Definitive Feasibility Study and 2024 scoping work, with potential production expansion to 6.7 Mlbs U₃O₈ annually.

Bannerman holds all environmental approvals and a mining license, positioning the project for a positive Final Investment Decision. Known for its ESG leadership, Bannerman is leveraging Namibia’s strong uranium mining ecosystem. The enhanced capital base and strategic investor backing underscore confidence in Bannerman’s ability to deliver into a tightening uranium market.

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