namibia uranium article, page-15

Received this from PK in reply to my e-mail last week


Dear


Thank you for your email to Bannerman last week. As you may appreciate, we have had a substantial number of enquiries and so it is taking us a little time to respond properly to each one.


Like many people, we have been particularly alarmed by the severe negative market reaction. However, the company has cash (+A$20 million) and a defined plan to commence the DFS (already started), lodge the mining licence application (please refer to today's ASX release which summarises the work areas we are focusing upon in the short term), expand the resource, improve the project economics and attract a suitable strategic partner/off-take buyer. The project remains one of key interest to industry end-users for long term security of supply, and our DFS activities are continuing at full speed as we work to recover the ground lost last week.

Please do not hesitate to contact me should you have any further queries.

Yours sincerely

Peter Kerr

Peter Kerr

CHIEF FINANCIAL OFFICER

Corporate Office

Level 1 Suite 18 513 Hay St Subiaco Western Australia 6008

Post PO Box 1973 Subiaco Western Australia 6904

T +61 (0)8 9381 1436 F +61 (0)8 9381 1068 M +61 (0) 419 045 380

www.bannermanresources.com

E [email protected]


Sent: Tuesday, 15 December 2009 12:50 PM
To: Bree Green
Subject: Shareprice


Dear Management

As a shareholder, could you please indicate to me whether management is formulating a response to the shareprice drop based on a perceived view that Bannerman will not be able to produce uranium profitably.

Thank you