PERTH (miningweekly.com) - Uranium hopeful Bannerman Resources on Monday reported that the definitive feasibility study (DFS) on its Etango project, in Namibia, was scheduled for completion by the end of March.

The study was focused on developing the Etango project into producing between six-million and eight-million pounds a year of uranium oxide, based on a measured resource of 62.7-million tons and an indicated resource of 273.5-million tons.

Bannerman said on Monday that key outcomes of the work to date has resulted in a 33% increase in the plant throughput from 15-million tons to 20-million tons a year, resulting in a 20% increase in yearly production.

The study has also resulted in a change to the mine scheduling philosophy from maximising ore grade to minimising material movement costs, and has deferred prestripping to minimise the material movement and maximise operating cash flow in the early years of the mine life.

“It has been another productive quarter at Bannerman, with the DFS for the Etango project nearing completion,” said Bannerman CEO Len Jubber.

“We are looking forward to completion of the study in March, at which time Etango will be one of the largest uranium projects at this stage of development held outside of the major producers and utilities.”

Jubber said that the uranium sector was experiencing a renewed interest as the world was increasingly realising that the underlying drivers for nuclear power demand remained unchanged in contrast to the supply side challenges arising from uranium production shortfalls and project delays and deferrals.

“Bannerman is well positioned to benefit from the growing demand for secure, low-risk and long-life uranium supplies,” he added.

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