Minor listed uranium explorer Bannerman Energy raised $40.7 million last week via brokers Euroz Hartleys and Canaccord Genuity. The cash is to progress the feasibility study at Namibia’s Etango-8 project and for general working capital. The new paper was issued at 22¢.

Barely five months ago, three Bannerman directors – founder Clive Jones, non-executive chairman Ronnie Beevor and chief executive Brandon Munro – cashed out $25.5 million selling 75 million Bannerman shares at 34¢ a pop to two (nameless) institutional investors. Those insiders willingly took a 19 per cent discount on the last price (42¢), which tells you what they thought of that price. “Ethereal” may be the right word.