Etango demo plant advancing
Having aptly built its image as an advanced uranium producer, Bannerman is making good on its claim as the construction of its demonstration heap leach plant advances. Since it announced the awarding of contracts on 22 September 2014, project steps completed include amongst others; the establishment of site infrastructure, blasting and hauling of the waste, the construction of an evaporation pond and the sourcing of mixing tanks.
Expressing his joy, Bannerman Chief Executive Officer Len Jubber said, “The construction of the demonstration plant is on track for completion in early 2015 and it is anticipated that the first test results will be available during the June 2015 quarter. The timing of the demonstration plant coincides well with the uranium price.” Like many other players in the industry, Bannerman anticipates that the uranium spot price will gain ground in the near future.
Industry players have turned their attention to China where 27 nuclear reactors are currently under construction. Added Jubber, “The recent final regional authority approvals for the restart of the two reactors at the Sendai plant in Japan has contributed to the much anticipated resurgence in interest in the uranium sector resulting in the spot price increasing to as high as US$44.00 per lb U3O8 compared to the 8 year low of US$28.25 per lb U3O8 in early July, before retracting to US$38.00 per lb U3O8 recently. It is expected that the restarts will commence in early 2015 post completion of the final safety sign-offs.”