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Another uranium mining company gets the financial jitters

graph-downwardBannerman waits for uranium price to turn around, The Northern Miner, 2013-08-21
A recently reported leak at the Fukushima nuclear plant in Japan has reawakened concerns over the development of new nuclear reactors in the country, with most experts agreeing that the current build-up would likely be put on hold until the situation is resolved.

The news is the latest reason being offered for why uranium prices continue to remain at low levels, but whatever the reason may be, the consequences are real for Bannerman Resources (TSX: BAN)…….

With the spot price for U3O8 still a ways off from the breakeven point outlined in its feasibility study on its flagship Etango project, Bannerman recently pushed back expected first production date for the project by two years. The mine was originally set to enter production in 2016 but now will have to wait until 2018…….

The same study estimated it would cost US$870 million to build the mine with an additional US$380 million in sustainable capex over the mine’s life. Those numbers have investors wondering about where financing may come from in today’s tight capital markets……… – : http://www.northernminer.com/news/bannerman-waits-for-uranium-prices-to-come-around/1002545158/#sthash.osZ3jd8i.dpuf

August 23, 2013 - Posted by | 2 WORLD, business and costs, Uranium

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