Bannerman and Namibia Reach Agreement

Mining Weekly reported Bannerman Resources (TSX:BAN,ASX:BMN) has agreed to sell a 5% stake in its 80%-owned Namibian subsidiary to Epangelo for about A$3.9-million.

As quoted in the market news:

BMRN owns the Etango uranium project, for which a definitive feasibility study (DFS) was completed last month.

The DFS estimated that the project could produce between seven- and nine-million pounds of uranium oxide a year for the first five years of operation, and between six- and eight-million pounds a year thereafter, ranking the project as one of the top-ten pure uranium projects in the world.

Click here to read the full Mining Weekly report.