Despite the recent turn in uranium prices, aspiring miners are still struggling over how to make headway with their developments

Despite the recent turn in uranium prices, aspiring miners are still struggling over how to make headway with their developments. Bannerman Resources thinks it can begin production without actually beginning production as it grapples with a way to maintain its competitive advantage in a cyclically depressed uranium market. To help sustain the first mover position of its Etango mine development in Namibia in the eyes of investors and potential buyers of yellowcake, the company has decided to build a demonstration plant which will maintain its readiness to respond to a turn in market conditions. It has all the necessary approvals to proceed and construction has now commenced. Meanwhile, Bannerman will also be able to optimise its operational performance. There has been a noticeable turn in market prices in the past month but from such low levels that a still arduous adjustment possibly remains. Even so, Bannerman remains poised as one of the best positioned companies to take advantage of an eventual cyclical upturn.