Australia's Bannerman Energy slips on discounted placement

Bannerman Energy

24/03/2022 24:36

** Shares of Bannerman Energy Ltd  BMN.AX  slip as much as
15.1% to A0.225, their biggest intraday pct loss since March 4 -
if losses hold
    ** The uranium developer says it has received firm
commitments for a single tranche placement to raise
approximately A$40.7 mln ($30.52 mln)  urn:newsml:reuters.com:*:nFWN2VQ107
    ** Says funds raised will be used for finishing current
Etango-8 Definitive Feasibility Study in Namibia which is on
track for completion in Q3 FY2022, among other activities
    ** Adds that it is undertaking a share purchase plan, which
is expected to raise up to A$5 mln
    ** Issue price for both at A$0.22 per share is at a 17%
discount to the last closing price, when it previously traded on
March 22
    ** Shares hit lowest since March 15
    ** Stock is down 8.62% this year, as of last close

($1 = 1.3337 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))