stephen dattels buys in to bannerman, page-23

News reports coming in now ... but I still cant find anyone making the connection to Dattel.


Bannerman to raise $37.5m for Etango
29th May 2009, 8:45 WST

Hong Kong’s Regent Pacific will take a 5 per cent stake in aspiring uranium miner Bannerman Resources as part of a $37.5 million capital raising for the company’s flagship Etango project in Namibia.

Bannerman said today Regent Pacific would invest $10 million in it as part of a $30 million placement to institutional and sophisticated investors at $1 per share.

Regent Pacific, which holds diversified mining interests in China as well as stakes in AIM-listed miners Kalahari Minerals and Polo Resources, will end up with 5.3 per cent of Bannerman’s issued capital after the placement.

Bannerman said it would also issue new shares to existing shareholders as part of a share purchase plan to raise an extra $7.5 million.

Shareholders would be offered up to $15,000 worth of new shares in the company.

Bannerman said it would use the funds raised to complete the feasibility study for Etango and for resource definition and exploratory drilling.

Some of the money would also be used for working capital and general corporate purposes.