Bannerman Seeks Win-Win Partnership

Jul. 29, 2011 07:29PM PST

allAfrica.com reports Bannerman Resources Limited (ASX:BMN) seeking ways for a win-win partnership for its Etango uranium project located 35km east of Swakopmund.

The market news is quoted as saying:

A Chinese company, Sichuan Hanlong Group (Hanlong) earlier this month made a bid to acquire a 100% stake in the project by scheme of arrangement.
Peter Kerr, chief financial officer of Bannerman Resources, said the board of the company is now engaging with Hanlong to ascertain more about the objectives and details of the proposal submitted in relation to the project.
“This proposed bid is highly conditional and includes requirements for board support and the continued involvement of the senior management of the group. In the interim, Bannerman is continuing its discussions with potential financial and development partners,” Kerr told the Economist.

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