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Bannerman Energy Ltd (ASX:BMN)

ALERT: Price-sensitive ASX Announcement for BMN
Current share price for BMN : $3.630 -0.34 (-8.56%)+
Announcement
Release
16 Oct 2025 9:10AM
Price at Release
$3.970
Full Release
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Summary
Bannerman Energy Ltd reported significant progress in the Etango Uranium Project during the quarter ending 30 September 2025. The project, which has been LTI-free for 16 years, saw various developments such as the commissioning of construction power and completion of the Factory Acceptance Test for a tertiary crusher. Early works at Etango are advancing on schedule and budget, with significant contracts placed and agreements executed, including a permanent power supply agreement. The company secured initial offtake contracts with leading North American companies and ended the quarter with a strong cash position of A$111.8M. The uranium market remains strong, with increasing prices driven by high demand and supply constraints.
Key Points
  • Etango project maintains a 16-year LTI-free record.
  • Construction power commissioned within Mining Licence boundary.
  • Completed Factory Acceptance Test of High Pressure Grinding Rolls tertiary crusher.
  • Permanent power supply agreement fully executed.
  • Signed initial offtake contracts with two Tier-1 North American companies.
  • Strong cash balance of A$111.8M at quarter-end.
  • Uranium prices are rising due to strong market demand.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.