Bannerman Energy's (ASX:BMN) development at its Namibian uranium project, Etango, has reached the next phase of long lead order and critical path contract awards via a construction power contract and construction contract for roads, according to a Wednesday note from Euroz Hartleys.
The uranium developer's shares rose 30% over the last month, the broker said, adding that it sees further generalist inflows due to Microsoft's power purchase agreement with Constellation.
Further, the restart of the Three Mile Island nuclear power plant is a key near-term catalyst, the broker said.
Euroz Hartleys has a speculative buy rating on Bannerman Energy.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.