Bannerman Energy Ltd (ASX:BMN) saw its stock soar 6.15% in intraday trading, following the company's announcement that early works construction activities for its Etango project in Namibia are progressing within budget and on schedule. The positive update has sparked investor optimism about the company's future prospects.
According to a filing with the Australian Securities Exchange, Bannerman Energy reported significant milestones in the project's development. The primary crusher site has been fully excavated, and construction power overhead infrastructure has been installed. Additionally, the company is currently evaluating draft permanent power supply and acid facility lease agreements, indicating steady progress towards project completion.
Investors responded favorably to the news, driving Bannerman Energy's shares up by 6.15%. The company's announcement of plans to make a positive final investment decision on the Etango project within the year has further fueled market enthusiasm. This development suggests that Bannerman Energy is moving closer to realizing the potential of its Namibian uranium project, which could significantly impact the company's future performance.
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