RCF VI took up its holding as part of the share purchase plan and took advantage of a shortfall to take its holding to 77,648,273 shares in Bannerman Resources.
The raising, which was struck at $0.052 per share will be used to operate the Heap Leach Demonstration Plant recently constructed by Bannerman at its 80% owned Etango Uranium Project.
The project is one of the largest globally undeveloped uranium deposits, located in Namibia near to Rio Tinto's (NYSE:RIO) Rössing uranium mine, Paladin Energy's (NYSE:PDN) Langer Heinrich uranium mine and CGNPC's Husab uranium mine - under construction.
First test results from the demonstration plant are due in the June 2015 quarter and should provide a barometer of progress and also be watched closely by potential joint venture partners and investors, alike.
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