Bannerman Energy enters trading halt ahead of capital raising
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The news: Trading of shares in Bannerman Energy has been halted ahead of a proposed capital raising by the uranium developer.
The numbers: Bannerman shares last closed at $3.58, having gained 138% over the last 12 months.
The context: Perth-based Bannerman, which owns the Etango uranium project in Namibia, said that it expects trading to remain halted until market open on Friday.
The company's undeveloped Etango project is on one of the world’s largest untapped uranium resources within Namibia’s established uranium-mining district.
Uranium stocks, including Bannerman's ASX rivals Paladin Energy and Boss Energy, have been in focus in recent days after the Coalition pledged last week to build seven large-scale nuclear reactors, including two by 2037.
The source: ASX announcement
