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BANNERMAN ENERGY LTD — M&A Activity 2011
Sep 26, 2011
64542_rns_2011-09-26_0e1c8ff3-853f-49b8-b573-ba4c3421e262.pdf
M&A Activity
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BANNERMAN CONTINUES HANLONG DISCUSSIONS
Perth, Australia – Bannerman Resources Limited (ASX: BMN, TSX: BAN, NSX: BMN) (“ Bannerman ” or the “ Company ”) advises that, following the acquisition proposal received from the Sichuan Hanlong Group (“ Hanlong ”) in July, further meetings have been held with senior representatives of Hanlong and its advisers, and discussions are continuing.
Bannerman has been advised by Hanlong that recent action by the Australian Securities and Investments Commission involving several Australian-based Hanlong employees has not diminished Hanlong’s interest in progressing its proposal to acquire Bannerman.
Bannerman also advises that Hanlong’s due diligence investigations are ongoing but well progressed.
Bannerman and Hanlong have agreed to advance their discussions in the coming weeks.
Further updates will be provided in due course.
About Bannerman - Bannerman Resources Limited is an emerging uranium development company with interests in two properties in Namibia, a southern African country considered to be a premier uranium mining jurisdiction. Bannerman’s principal asset is its 80%-owned Etango Project situated southwest of Rio Tinto’s Rössing uranium mine and to the west of Paladin Energy’s Langer-Heinrich mine. Etango is one of the world’s largest undeveloped uranium deposits. Bannerman is focused on the feasibility assessment and development of a large open pit uranium operation at Etango. More information is available on Bannerman’s website at www.bannermanresources.com.
Len Jubber Chief Executive Officer Perth, Western Australia Tel: +61 (0)8 9381 1436
Tim Haughan Spyros Karellas Investor Relations Manager Investor Relations Perth, Western Australia Toronto, Ontario, Canada Tel: +61 (0)8 9381 1436 Tel: +1 416 800 8921 [email protected] [email protected]
BANNERMAN RESOURCES LIMITED ABN 34 113 017 128 Corporate Office Level 1 ■ Suite 18 ■ 513 Hay Street ■ Subiaco Western Australia 6008 Post PO Box 1973 ■ Subiaco Western Australia 6904 T +61 8 9381 1436 F +61 8 9381 1068