Bannerman hikes Namibia uranium project capital cost estimate

Uranium project developer Bannerman Resources has announced a moderate increase in the preproduction capital forecast for the Etango-8 project, in Namibia. This update follows the completion of the front-end engineering design (FEED) and control budget estimate (CBE) processes. The completion of FEED and the CBE has refined the outcomes of the 2022 definitive feasibility study (DFS), enhancing accuracy and recency to key cost estimates. As a result, the CBE preproduction capital forecast has risen by $36-million, or 11.3%, from the DFS estimate to $353.5-million. The increase is driven by design changes and impacts of inflation.