Bannerman Resources Limited (ASX: BMN) is pleased to announce that the Company has signed and submitted the “Notice of Preparedness to Grant” from the Ministry of Mines and Energy (Namibia) for Exclusive Prospecting Licences EPL3345, Welwitschia and EPL3346, Swakop River. The notices state that the Company’s top two priority licences have been approved for granting to its partner Turgi Investments Pty. Ltd. (“Turgi”). As previously announced the Company has acquired 80% in the capital of Turgi. In signing the notices the Company has agreed to the Ministry’s statutory conditions which includes, amongst others, entering into contracts with the Ministry of Environment and Tourism relating to environmental protection issues. Completion of this process, and the issuance of the licence documents is anticipated to take place within 30 (thirty) days.
The licenses have been “approved” for granting. It is good signs and looks likely that they will secure the licenses but anything COULD go wrong. I think it is looking very likely they will be granted the licenses but you never know what can happen.
That is why this is a speculative stock but hey im willing to take the risk because I think everything is in Bannermans favor. Better to have been approved for granting than being rejected.
I took half profits on my holdings to cover what I outlayed but i’ll be holding the rest for the long haul. There was an article in the west australian today stating that the grounds they could aquire are very prospective for uranium.
Lets see what happens but I can see some good things happening for this stock.
Regards,
Christopher
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