- Bannerman Energy owns 95% of the Etango Uranium Project in Namibia in Southern Africa.
- The company has been working on Etango since 2006.
- Bannerman has now met regulatory requirements and begun early construction.
Work on Etango to date has been extensive, with completed scoping studies, a pre-feasibility study, and a definitive feasibility study, With various permits in place the company hit a major milestone on 14 December when the Namibian Ministry of Mines and Energy awarded a mining license to Bannerman Energy.
With the granting of the license in place, Bannerman awarded two early work contracts for temporary water supplies and road access.
Source: ASX
The stock price is rising, hitting a near five year high in December of 2023 and a 52 week high.
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Over five years the share price is up 810.5%.
An analyst at Tradethestructure has a HOLD recommendation on Bannerman shares, citing the benefit from the continuing uranium bull run and pointing to a positive technical outlook long term with the potential for short term profit taking.
Marketscreener.com is reporting consensus BUY recommendation on Bannerman shares, with only two analysts reporting, both at BUY.
The Wall Street Journal has three analysts reporting, all at BUY ratings.
Of the ASX listed uranium stocks currently trending upward, Bannerman qualifies as an “under the radar” stock given the low analyst coverage, market capitalization, and average daily trading volume.
Bannerman’s ninety day average daily trading volume is 556,245, which pales in comparison with the ninety day average shares traded daily of 2,799,851 for a rival Boss Energy.
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