Proactive Investors - Run By Investors For Investors

Bannerman Resources responds to ASX query on price and volume increase

Bannerman noted that market focus on the uranium sector may be increasing given the proximity of a recommendation by the US Department of Commerce.
share price chart
The recommendation is due by April 14, 2019

Bannerman Resources Ltd (ASX:BMN) received a query from the ASX today related to the company’s shares rising from 3.9 cents at the close of trading on Monday, March 11 to a high of 5 cents today.

The ASX also noted the significant increase in the volume of Bannerman securities traded over the last few days.

Bannerman responded to the query explaining that it was not aware of any information that had not been released to the market which, if known, could be an explanation for recent trading in the securities of the company.

READ: Bannerman Resources defines satellite deposit potential in drilling at Etango Uranium Project

However, the company noted that market focus on the uranium sector may be increasing given the proximity of a recommendation by the United States Department of Commerce regarding the national security investigation of uranium imports under Section 232 of the Trade Expansion Act of 1962.

The Department of Commerce is required to make its recommendations to the Trump Administration by April 14, 2019.

Accordingly, Bannerman stated that the recent trading in its securities could be explained by more general factors affecting the uranium market, rather than factors specific to Bannerman.

READ: Bannerman Resources highlights positive uranium industry outlook as it updates DFS

View full BMN profile View Profile

Bannerman Resources Ltd Timeline

Related Articles

Piedmont's Carolina location map, showing nearby mines and lithium processing facilities
April 22 2019
Piedmont Lithium is a large landholder in North Carolina pursuing regulatory approvals for its Piedmont US-lithium project.
Sconi project map showing proximity to Townsville port
March 07 2019
SK Innovation is likely to take all the battery-grade cobalt sulphate and nickel sulphate produced from Sconi.
Unloading concentrate at Wyndham port shed
January 14 2019
Ramp-up to full underground production is on schedule and concentrate is being trucked to the Wyndham port.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use