Australia's Bannerman Energy tumbles after higher cost forecast for uranium project

Bannerman Energy

12/06/2024 05:55

** Shares of Bannerman Energy  BMN.AX  fall as much as 4% to
A$3.860, their lowest since May 1
    ** Stock posts its biggest intraday percentage decline in a
week
    ** The uranium miner increases pre-production capital cost
estimate for its Etango uranium project in Namibia by 11.3% to
$353.5 mln
    ** Increases all-in-sustaining-cost estimate for project by
2.6% to $39.09/lb uranium ore 
    ** Stock up 49.4% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))