Shares of Australian uranium development company Bannerman Energy which is developing the Etango-8 project in Namibia have started trading on the OTCQX in the United States after being upgraded from the OTCQB.
The company will continue to trade under the OTC market symbol BNNLF.
“Bannerman’s upgrade to the OTCQX reflects our strategy to introduce the company to a broader international audience. The more highly regulated financial and corporate governance requirements of the OTCQX are attractive to many larger investors and specialist funds,” said Bannerman CEO Brandon Munro.
“This recognition presents a timely progression for Bannerman, as we progress the definitive feasibility study evaluating the transition of our Etango-8 project from development to production.”
The OTCQX enables global companies to better access U.S. investors and distribute information in the U.S. public markets without the complexity and cost of an U.S. exchange listing.
This comes as the company last month submitted its Mining Licence (ML) Application with the Ministry of Mines and Energy (MME) for the proposed Etango-8 uranium mine.
The development means the company will be expected to submit a Definitive Feasibility Study (DFS) for Etango-8, which it expects to be completed during the December quarter, as part of its engagement process with the Mines ministry.
Bannerman Energy has also completed the acquisition of a 41.8% stake in listed critical minerals explorer Namibia Critical Metals Inc (NMI).
