Bannerman Resources Limited (ASX:BMN,TSX:BAN,NAM:BMN) announced highlights from its June 2012 quarterly report.
As quoted in the press release:
- Release of the results of the Etango Uranium Project Definitive Feasibility Study (“DFS”), confirming the viability of a long life and large scale uranium mining project.
- Receipt of environmental approval for the Etango Project from the Namibian Ministry of Environment and Tourism. The environmental approval is a necessary step in obtaining a mining licence for the Project.
Bannerman’s CEO, Len Jubber said:
Completion of the Etango Project DFS and subsequent receipt of formal environmental approval represent significant milestones and further de-risk the Etango Project. In addition, drilling carried out over the last two quarters confirms that the Etango deposit is open down dip and at depth, and therefore offers significant potential for mine life extensions beyond the current reserve life of 16 years. Etango is now one of the very few large scale and low technical risk projects backed by a DFS and with significant resource upside.