Bannerman to advance Etango

Triple listed Bannerman Energy will raise A$40.7-million in a single tranche share placement to fund the completion of the Etango-8 definitive feasibility study, as well as front-end engineering and design (FEED) on the Namibian project.

Bannerman on Thursday said that it would place some 185-million shares, at a price of 22c each, to institutional and sophisticated investors, under the company’s existing placement capacity.