Bannerman Resources (BNNLF) Rockets 300% Since November: But Why?

Uranium has become an increasingly important product due to the implications it has with regards to a nuclear-powered future and hence, it is no surprise that many investors are now looking for stocks in that space.

Bannerman Resources (BNNLF) Rockets 300% Since November: But Why?

One of the notable players in that space is Bannerman Resources (OTC: BNNLF) and over the course of the past months, the stock has recorded significant gains. Since November 2020, the Bannerman stock has shot up cosmically by 300% and hence, it might be a good idea for investors to take a closer look.

That being said, it should be noted that many experts believe that the jump in the stock price is not backed up by the company’s fundamentals. The breakeven price of uranium for its Etango project is $46 a pound and that does not take into consideration the financing expenses. Hence, unless the price of uranium rises considerably, Bannerman may find it difficult to recoup its costs.

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.